The CFTC claimed that Cash FX engaged in minimal forex trading and misappropriated most of the participant funds. The Commodity Futures Trading Commission said it is suing Cash FX Group and three individuals in a $950 million foreign-exchange investment case involving cryptocurrency. The defendants are Cash FX and its CEO Huascar Jose Lopez Castillo of Brazil, The Conversion Pros and its CEO Ronald Pope of Oregon, and Justin Halladay of Florida. The CFTC said its complaint was filed Friday in the US District Court for the Middle District of Florida. It alleges the defendants operated a multilevel marketing Ponzi scheme, soliciting and accepting over $950 million for the purported purpose of trading retail foreign currency contracts in a commodity pool.
OG.com, recently spun out of Crypto.com, joins Coinbase, Kalshi and Kraken parent Payward in seeking approval to bring perpetual futures to individual US stocks. OG.com Markets is seeking US regulatory approval to offer perpetual futures tied to individual stocks, as trading platforms push to bring the popular derivatives product to US equity markets. In a Thursday filing with the Commodity Futures Trading Commission (CFTC), OG.com proposed new rules allowing it to list cash-settled single-stock futures that never expire and can trade 24 hours a day, five days a week. OG.com was recently spun out of crypto exchange Crypto.com as an independent prediction markets and derivatives platform valued at $5 billion. At the time, CEO Kris Marszalek said the platform planned to expand beyond predict…
Former CFTC Commissioner Summer Mersinger joined the Blockchain Association in 2025 after resigning during her second term at the federal commodities regulator. Update (Sept. 25, 10:20 pm UTC): This article has been updated to clarify Kristin Smith’s role with the Solana Policy Institute. Summer Mersinger, formerly a commissioner with the US Commodity Futures Trading Commission (CFTC), will step down as CEO of the Blockchain Association and leave the advocacy organization at year’s end after one of the group’s legislative priorities faced a significant setback in Congress. On Friday, the Blockchain Association (BA) announced that Mersinger would step down as CEO on Oct. 16, when the group’s former chief executive, Kristin Smith, would return to lead the organization as interim CEO in addit…
US prosecutors alleged that a payments business illegally transferred hundreds of millions of dollars at the direction of EQIBank, where Tether holds some assets. Stablecoin issuer Tether said that it had limited exposure through assets held at a bank that reportedly directed a payments company to allegedly move hundreds of millions of dollars on its behalf. In response to reports linking Tether and Bitfinex to a Montana-based payments business named in a civil forfeiture complaint filed by the Department of Justice, a company spokesperson told Cointelegraph that it had “no knowledge” of any of the alleged conduct. Tether confirmed it was a customer of EQIBank, the bank the Justice Department alleged directed the payments company, Capstone, to send and receive money, but the amount held at…
The Bitget breach announced on Thursday affected about $35 million more than previously reported, based on an analysis of assets on Zcash and TRON. Crypto exchange Bitget released an updated incident report on Thursday’s security breach, clarifying that about $388 million in assets had been affected and not $352 million as previously reported. In a Friday update, Bitget said it would continue to pause withdrawals following the security breach, and the company had launched a bounty program to incentivize freezing or recovering the assets. The exchange confirmed that “$387.5 million were transferred to attacker-controlled addresses” based on onchain tracing — about $35 million more than reported on Thursday. “The revised figure reflects a more complete accounting of transfers that occurred…
Strategy’s proposal would move STRC and its three other preferred stocks to daily dividend payments, following a similar move by Bitcoin treasury firm Strive. Strategy is seeking shareholder approval to move its four preferred stocks, including STRC, to daily dividend payments without changing their dividend rates or the total amount paid. The company’s board approved the proposal on Thursday, according to a Friday filing with the US Securities and Exchange Commission. Shareholders are scheduled to vote on the amendments at a virtual special meeting on Oct. 28. If approved, each calendar day would become a dividend record date, with the corresponding payment made on the next business day. STRC would move to the new schedule first, with its initial daily dividend payment expected on Nov. 2.
Stablecoins and tokenized assets are pushing banks, exchanges and crypto companies into the same markets, from payments to stocks and ETFs. The line between crypto companies and traditional finance is blurring. Binance is buying a $100 million stake in Circle, Canada’s six largest banks are exploring tokenized deposits and the New York Stock Exchange is working with Blockchain.com to bring US stocks and ETFs onchain. Crypto companies want a bigger role in payments and traditional assets, while banks and exchanges are bringing those markets onchain without giving up their place at the center of the financial system. This week’s Crypto Biz highlights how stablecoins and tokenized assets put crypto companies and traditional finance on increasingly overlapping turf, with both sides vying for c…
The IRS can now see your crypto gains, but has no idea about the cost-basis. That’s proving to be a big headache for some cryptocurrency investors. It’s that time of year again in the United States. The days start to draw in, the leaves start to fall, and the tax man comes knocking for your 2025 return. This year, thanks to the Inland Revenue Service’s new rules, the agency now knows more about Americans’ crypto trades than ever before, with brokers required to report gross proceeds from certain digital asset sales. But unfortunately for some taxpayers, getting a form from an exchange hasn’t made filing their returns any easier.
CoinGlass will retain its brand and team, while its website, app, free tools, API and pricing will remain unchanged following the acquisition. CoinMarketCap has acquired crypto derivatives data platform CoinGlass for an undisclosed amount, expanding its coverage of leveraged trading across major exchanges. CoinMarketCap announced Friday that CoinGlass will continue operating under its existing brand, with its team remaining in place. Its website, app, free tools, API and pricing will be unchanged. CoinGlass tracks open interest, funding rates, liquidations and options. It covers 28 exchanges and more than 2,500 instruments, according to the announcement.
The analyzed Safari sample targets iOS 18.4–18.6.2 using previously patched flaws, while its effectiveness on iOS 26.5 remains unverified. An iPhone Safari attack behind recent security warnings hasn’t yet been linked to a confirmed cryptocurrency theft in SlowMist’s investigation. Multiple reports surfaced this week urging iPhone users to update their devices immediately and warning that malicious Safari pages could expose crypto private keys and seed phrases, with some citing a range from iOS 13 through iOS 26.5. SlowMist told Cointelegraph that it has not independently confirmed a victim compromised by the specific Safari attack sample it analyzed, while its strongest technical evidence covers iOS 18.4 through 18.6.2.
IBIT’s expected volatility sits near the bottom of its 12-month range, according to Saxo Bank’s analysis of options data from Sept. 23. Options on BlackRock’s iShares Bitcoin Trust (IBIT) are pricing smaller swings than the fund experienced during Bitcoin’s recent rebound, according to Saxo Bank. IBIT’s implied volatility stood at 37.4%, compared with realized volatility of 45.5% over the 20 trading sessions through Tuesday, Saxo investment and options strategist Koen Hoorelbeke wrote Thursday. Based on Wednesday’s data, Hoorelbeke’s analysis put IBIT’s implied volatility rank at 11.9, placing the measure near the bottom of its 12-month range.
Yuga Labs’ 0xQuit said the NFTs are safe and will be returned once the risk passes, while holders were urged to revoke NFT permissions. A whitehat moved 3,832 non-fungible tokens from hundreds of wallets on Friday amid concerns about a vulnerability involving NFT marketplace Magic Eden. NFT community member who goes by Cirrus on X flagged the activity on Friday, saying a single wallet moved 3,832 NFTs from hundreds of wallets. Cirrus said the transactions appeared as sales through Magic Eden and advised NFT holders to revoke permissions as a precaution. Shortly afterward, Yuga Labs’ pseudonymous vice president of blockchain, 0xQuit, said the transfers were part of a white-hat operation. He said the NFTs held in the receiving wallet are safe and “will be returned once they are no longer at…
KelpDAO says LayerZero endorsed its bridge setup before the attack, while CEO Bryan Pellegrino has dismissed the lawsuit as meritless. KelpDAO has filed a lawsuit against cross-chain protocol LayerZero following the roughly $292 million exploit of its rsETH bridge earlier this year, alleging that failures in LayerZero’s security infrastructure contributed to the attack. KelpDAO said Friday that LayerZero failed to disclose risks in its technology or prevent attackers from compromising its infrastructure. It also alleged that LayerZero had reviewed and endorsed its deployment and configuration in writing before the exploit. The lawsuit also names LayerZero co-founder and CEO Bryan Pellegrino.
US spot Bitcoin ETFs drew $191 million Thursday as daily inflows slowed for a third day, lifting year-to-date net flows to $787 million. US spot Bitcoin exchange-traded funds (ETFs) drew about $191 million in net inflows on Thursday, pushing their six-session total past $2.8 billion. After hitting a 2026 high of $999 million on Monday, daily inflows fell for three consecutive sessions while Bitcoin retreated from above $87,000. Thursday’s total was down 81% from Monday, according to SoSoValue data. The latest inflow streak lifted the funds’ year-to-date total to roughly $787 million, reversing a 2026 deficit of about $5.5 billion at the end of June. September alone has attracted $2.56 billion so far, following $3.52 billion in August.
Keonne Rodriguez says he and 70 others face another move after their treatment program was deactivated. His previous transfer took 30 days. Samourai Wallet co-founder Keonne Rodriguez faces another prison transfer after the drug treatment program at FCI McKean was deactivated, he said Wednesday. Rodriguez said on X that McKean’s warden told program participants that Rodriguez and 70 others would be moved to facilities where treatment remains available. He entered the program because completing it could reduce his sentence by up to a year. In a letter published by The Rage, Rodriguez called his earlier journey from FPC Morgantown to McKean the “absolute worst 30 days” of his life. He said his request to make the roughly four-hour trip himself was denied.
Anthony Albanese said governments must help shape AI’s development, after revealing earlier that an OpenAI agent accessed non-public files on an Australian Medicare data portal. Australian Prime Minister Anthony Albanese warned artificial intelligence is evolving at a “furious pace” and has urged other countries to shape its development, after an OpenAI agent breached an Australian government website this year. Addressing the United Nations General Assembly in New York, Albanese called for international cooperation on emerging technology, adding that AI company leaders themselves have warned about advancing frontier AI too quickly without safeguards. “Recently, an artificial intelligence agent infiltrated an Australian government website. This is unacceptable,” he told world leaders on Thu…
Shielded Bitcoin would use zero-knowledge proofs and encrypted notes to hide transaction details without changing Bitcoin consensus, but researchers have raised questions about anonymity and quantum resistance. Researchers at the cryptography research firm Alloc Init have proposed a system for bringing Zcash-style private transfers to Bitcoin without requiring a soft fork. The proposal, called Shielded Bitcoin, would conceal transaction amounts, senders, receivers and links to previously spent funds using encrypted notes and zero-knowledge proofs. The paper was published on Thursday by Clara Shikhelman, Mikhail Komarov and Aleksei Moskvin. The proposal offers a potential path to stronger privacy for Bitcoin users without requiring consensus changes to the base protocol.
Block joins Google, Microsoft, AWS and Coinbase in backing x402, an open payment standard enabling agentic AI commerce. Block has joined the x402 Foundation and added Bitcoin Lightning support to the payment protocol as the company expands its push into payments for AI agents. Block on Thursday said Lightning is suited to the low-cost, high-volume payments that agentic commerce will depend on. “Bringing Lightning to x402 is a concrete step toward making Bitcoin everyday money for people and the agents acting on their behalf, and we’re excited to help the industry build on it,” said Steve Lee, head of Block’s Bitcoin development initiative Spiral.
Bitget CEO Gracy Chen said a preliminary investigation found IP addresses matching VPN choices associated with a DPRK hacking group. Update (Sept. 25 at 4:30 am UTC): This article has been updated to add new comments from Bitget CEO Gracy Chen and preliminary analysis from onchain researcher Specter. Bitget CEO Gracy Chen said North Korean hackers may be behind the exchange’s $351.6 million security breach on Thursday, citing preliminary findings linking IP addresses to VPN services used by a North Korean group. Speaking during a live Q&A following the incident on X, Chen said security investigators had flagged similarities with previous North Korean attacks. She said the exchange did not believe the breach was an inside job.
The APAC region accounts for half of the Global Crypto Adoption Index. Bitget suffers massive $351M loss and OpenAI forgets to mention its agents hacked the Australian Government. Almost half of the top 20 nations in terms of grassroots crypto adoption are in the Asia Pacific region. According to Chainalysis’s newly released 2026 Global Crypto Adoption Index, Japan ranks at number 4, followed by South Korea (5), India (6), Thailand (8), China (12), Indonesia (14), Australia (15), Vietnam (18) and the Philippines (19), which totals nine countries out of 20 on the index. A big growth area in the APAC region is cross border stablecoin transfers. Tianwei Liu, co-founder and CEO of StraitsX, told Cointelegraph that in Asia, fragmented currencies and payment systems have created demand for stabl…
