Today in crypto, BNB Chain traders are making millions on new memecoins going parabolic amid a surge in onchain trading activity, analysts say Canary Capital’s Litecoin and HBAR funds are ready to go after the US government reopens, and BitGo secured a VARA license as Dubai’s regulator announces a wave of enforcement actions.
BNB Chain memecoins mint new millionaires in wild trading week
Cryptocurrency traders made millions of dollars on small-cap memecoins on the BNB Chain over the past week, signaling a renewed wave of speculative capital fueling the current market cycle.
Among the most profitable investors is trader “0xd0a2,” who turned an initial investment of $3,500 into $7.9 million, generating a 2,260-fold return in three days, according to blockchain intelligence platform Lookonchain.
Trader “hexiecs” turned a $360,000 investment into over $5.5 million by investing in the recently launched “4” memecoin, which went parabolic after an X post from Binance co-founder and former CEO, Changpeng Zhao.
Other speculators also jumped on the token, including trader “brc20niubi,” who turned a $730,000 investment into $5.4 million, printing a 1,200-fold return on investment, according to Lookonchain.
The activity followed a trade earlier in the week when the wallet “0x872” netted nearly $2 million in profits within hours after investing just $3,000 in the 4 token. The trader achieved a 650-fold return after Zhao reshared a post about the token to his 8.9 million X followers on Oct. 1.
Canary’s Litecoin, HBAR ETFs ready for “go-time” after gov’t shutdown
Canary Capital appears to be on the cusp of having its Litecoin (LTC) and HBAR (HBAR) exchange-traded funds (ETF) approved after filing key final details on Tuesday, but they’re unlikely to launch while the US government is shut down.
Canary’s amendments added a fee of 0.95% and the ticker “LTCC” for its Canary Litecoin ETF and the ticker “HBR” for its Canary HBAR ETF, which Bloomberg ETF analyst Eric Balchunas said are “typically the last thing updated [before] go-time.”
He added that with the US government shut down and the Securities and Exchange Commission largely dark, it’s unknown when they’d be approved, but the filings “look pretty finalized to me.”
Meanwhile, ETF issuer Tuttle Capital filed for 60 new 3x ETFs, while GraniteShares submitted a batch of ETF applications holding a range of assets, including Bitcoin (BTC) and Ether (ETH). ProShares also entered the fray with a slew of filings.
Balchunas said there are close to 250 ETF filings looking to give 3x leverage linked to cryptocurrencies and issuers’ “spaghetti cannon” so many at once because they “make good money.”
BitGo secures VARA license amid regulatory crackdown
Digital asset infrastructure company BitGo said it had secured regulatory approval to offer specific services in Dubai amid the agency’s announcement of several enforcement actions.
In a Tuesday notice, BitGo said its Middle East and North Africa (MENA) arm had secured a broker-dealer license from the Virtual Assets Regulatory Authority (VARA) in Dubai, allowing the company to provide “regulated digital asset trading and intermediation services to institutional clients.”
The move came just a few weeks after BitGo said its European subsidiary could offer crypto services to local investors under a license from Germany’s Federal Financial Supervisory Authority.
“This approval allows us to serve institutional clients with greater scale, confidence, and integrity, while also underscoring the accelerating momentum within Dubai’s digital asset ecosystem,” said Ben Choy, general manager of BitGo MENA.
The notice of the licensing approval came less than 24 hours after VARA said it had issued financial penalties against 19 companies for “unlicensed Virtual Asset activities and “breaches of VARA’s Marketing Regulations.” VARA’s enforcement actions filed in 2025 included those against the TON DLT Foundation and Hokk Finance.
