The Fed’s proposal would set capital requirements, a two-day redemption window and new reserve disclosures as regulators implement the GENIUS Act. The Federal Reserve has proposed capital, redemption and other regulatory requirements for stablecoin issuers under its supervision as it moves to implement the GENIUS Act. The GENIUS Act already requires stablecoin issuers to maintain reserves backing their tokens on a one-to-one basis and limits the types of assets they can hold, including cash, bank deposits and short-term US Treasurys. The law left federal regulators to establish more detailed capital, reserve-diversification and risk-management requirements. Under the Fed proposal, issuers would face an operational-risk capital charge equal to 2% of the first $20 billion in stablecoins outs…
Bitget said unauthorized transfers affected a limited number of hot wallets, while cold wallets and most platform assets remained unaffected. Crypto exchange Bitget has confirmed unauthorized transfers affecting approximately $351.6 million in assets and temporarily suspended withdrawals as it investigates the security breach. Bitget said its security systems detected the transfers involving a limited number of hot wallets at 18:31 UTC on Thursday, prompting the exchange to activate emergency response procedures. Bitget CEO Gracy Chen said the breach was contained to a portion of the exchange’s hot and warm wallet layers, while its cold wallets remained secure.
Although the CFTC chair did not say the failed vote on the CLARITY Act was behind new rules for authorized crypto entities, he said the move was “to provide regulatory clarity.“ The US Commodity Futures Trading Commission (CFTC) has updated its guidance on tokenized assets and using blockchain technology for recordkeeping. In a Thursday notice, the CFTC said that it had updated information under its frequently asked questions on registered crypto-related entities. The guidance originally released in March was updated to specify that authorized companies could invest customer funds in tokenized forms, provided “the tokenized form of the asset grants the holder legal and economic rights that are the same or functionally equivalent to the rights received by holders of the asset in its tradit…
US Treasury yields hit a 19-year high on Thursday, pressuring risk assets as Bitcoin held near $84,000 and ONDO became top performer among altcoins. Bitcoin (BTC) had a volatile Thursday during US hours as the yield on the 10-year US Treasury note climbed to its highest level in nearly two decades. After briefly falling below $83,000, BTC struggled to reclaim $84,500. Ondo Finance (ONDO), meanwhile, was among the top-performing altcoins. Key points: The US 10-year Treasury yield rose more than 4 basis points to 5.18% on Thursday, its highest level since July 2007, according to TradingView data. The 30-year yield hit 5.46%, reclaiming 2004 highs.
DoubleZero launched a dedicated fiber market data feed for Hyperliquid, giving professional trading firms faster access to its full order book. DoubleZero has launched a dedicated market data feed for Hyperliquid, giving professional trading firms access to the decentralized exchange’s full order book over fiber rather than through its public APIs. The feed includes Hyperliquid’s native perpetual futures and markets operated by trade[XYZ], which uses Hyperliquid’s infrastructure to offer perpetual contracts tied to assets including oil, gold and silver. The Hyperliquid feed was developed with validator operators and ecosystem partners including Hyperion DeFi, MAVAN and Kinetiq. DoubleZero said the service delivers a continuous, ordered stream of market data for market makers, quantitative…
Most DATs now trade below the value of their crypto holdings, weakening a financing model that once helped companies expand their balance sheets. The crypto treasury model has largely lost its early advantage, with most digital asset treasury (DAT) companies no longer commanding the premiums that allowed them to raise capital and accumulate more crypto without diluting existing shareholders, according to a new report from DWF Ventures. The report, published Thursday, found that only four of the 20 largest DATs by assets under management trade above an mNAV of 1, meaning their market value exceeds the value of their crypto holdings. They are Bit Digital, Strive, Hyperliquid Strategies and BitMine. The widespread discounts suggest investors are no longer willing to pay the same premium for c…
The France-based semiconductor company has fully unwound a Bitcoin treasury that once held more than 3,200 BTC as more firms scale back crypto holdings. Sequans Communications has sold its remaining 314 Bitcoin, completing its exit from a Bitcoin treasury strategy that once saw the semiconductor company hold more than 3,200 BTC. On Thursday, the French semiconductor company said the exit follows the redemption of its convertible debt in May and will allow it to refocus on its core cellular internet-of-things (IoT) and software-defined radio businesses. CEO Georges Karam said the company used Bitcoin sales to eliminate its convertible debt and strengthen its balance sheet, leaving Sequans with no cryptocurrency holdings and no outstanding debt beyond government-financed research and develop…
SoFi dives deeper into payments as it moves its entire card program to blockchain-based settlement using its SoFiUSD stablecoin, with more than $25 billion in expected annualized volume. Stablecoins are increasingly being used to settle payments behind existing card networks, allowing money to move around the clock without changing how consumers pay. But rather than cutting Visa, Mastercard or banks out of the process, the technology is beginning to replace a narrower piece of the payments stack: the traditional banking rails used to settle obligations between participants. That shift was in focus this week when SoFi began settling debit and credit card transactions with Mastercard using its SoFiUSD stablecoin. The bank said it is migrating its entire card program, which it expects to proc…
The action filed by state lawmakers followed a similar lawsuit against prediction markets company Kalshi in July that alleged the platform was running an illegal gambling operation. New York Attorney General Letitia James is suing prediction markets platform Polymarket for offering contracts related to sporting events. On Thursday, New York state officials filed a lawsuit against Polymarket, alleging that the company’s prediction market event contracts violated state gambling laws. The lawsuit followed a similar action against Kalshi in July and litigation against prediction market platforms run by Coinbase and Gemini in April. Thursday’s filing cited Polymarket’s sporting event contracts on its mobile app launched in December 2025, including its advertising practices to New Yorkers. Acco…
IBM’s beta link lets banks instruct tokenized deposit transfers on Swift’s ledger using existing payment messages and compliance processes. IBM has added beta connectivity to Swift’s blockchain-based ledger for tokenized deposits and a beta option for banks to run IBM’s digital asset platform in their own data centers. IBM on Thursday announced the two additions to its Digital Asset Haven platform. Financial institutions participating in Swift’s program have tested tokenized deposits on the ledger using the platform, IBM said. Digital Asset Haven, IBM’s platform for banks and other regulated institutions to manage and secure digital assets, now includes a messaging adapter that lets institutions instruct tokenized deposit transactions using ISO 20022, the global standard for financial mess…
Rachel Conlan will oversee institutional partnerships and ecosystem growth, while Jamal Raees will focus on stablecoins and tokenized deposits, following a wave of new partnerships. Solana Foundation has appointed former Binance chief marketing officer Rachel Conlan as chief strategy officer and former Polygon Labs executive Jamal Raees as general manager of payments. Conlan will lead strategy across institutional partnerships, ecosystem growth and efforts to bring businesses onto Solana, the foundation said Thursday. She spent three years at Binance and previously held senior roles at OKX, CAA Sports and Havas. Raees said he would deepen the foundation’s engagement with major payments companies and focus on infrastructure used by teams building payment services on Solana.
HIFI CEO Zach Walsh told Cointelegraph the $37 million Series A is the company’s first priced funding round, though HIFI did not disclose its valuation. Stablecoin infrastructure company HIFI has raised $37 million in a Series A funding round led by Left Lane Capital as the use of stablecoins for payments and cross-border transfers continues to grow despite weakness in the broader crypto market. Cross-border stablecoin flows rose 77.5% to $220.3 billion in the 12 months ending June 2026, even as the wider crypto market shrank by more than a third over the same period, according to Chainalysis. HIFI CEO Zach Walsh told Cointelegraph that the Series A is the company’s first priced funding round. The company did not disclose its valuation. “HIFI is processing approximately $7 billion in annua…
Bybit’s global campaign positions it as a broader financial platform, though its stock, gold and forex derivatives were already available. The era of the “pure crypto exchange” is ending as customers seek stocks, gold and payments alongside digital assets, Bybit co-founder and CEO Ben Zhou told Cointelegraph on Thursday. “The people who trade crypto also want stocks, gold, forex, indices, and derivatives,” Zhou said. “They want to pay, save, and grow their wealth in the same place.” His comments accompanied Bybit’s launch of “Make Your Move,” a campaign positioning the exchange as a broader financial platform. Bybit already offers derivatives tied to stocks, gold and indexes, as well as forex. Those products provide price exposure without ownership of the underlying assets.
The EBA outlined potential rules for crypto lending and firms providing access to DeFi protocols as part of the European Commission’s MiCA review. The European Banking Authority (EBA) has called for crypto lending to be brought under the European Union’s Markets in Crypto-Assets (MiCA) framework as regulators consider potential changes to MiCA. In a response to the European Commission’s (EC) targeted consultation on MiCA, the EBA said crypto borrowing and lending should be regulated, including where crypto asset service providers facilitate access to decentralized finance (DeFi) lending protocols. The regulator recommended that the EC conduct a cost-benefit analysis of legislative changes that could add intermediating crypto borrowing and lending to the list of services regulated under Mi…
Bitcoin traded near $83,200 as Fed hike odds reached about 75% and Treasury prepared a $6 billion buyback of long-dated bonds. Key points Bitcoin fell below $84,000 during Asian trading hours on Thursday, slipping to $83,200 after the US 10-year Treasury yield climbed to its highest level since 2007. The 10-year yield closed Wednesday at 5.11%, up from 4.96% Tuesday, and reached 5.13% intraday. CME attributed the bond selloff partly to stronger US business data and rising oil prices.
US spot Bitcoin ETF inflows slowed to $347 million on Wednesday as Bitcoin fell below $84,000, while five-day inflows reached $2.65 billion. US spot Bitcoin exchange-traded funds (ETFs) drew about $347 million in net inflows on Wednesday, extending their positive streak to five trading days even as Bitcoin fell below $84,000 after briefly trading above $87,000. The funds have drawn about $2.65 billion over the five sessions through Wednesday, according to SoSoValue data. Wednesday’s tally was down from $714.75 million on Tuesday and a 2026 high of $998.95 million on Monday. The funds have attracted $2.37 billion so far in September, offsetting earlier outflows and lifting year-to-date inflows to about $596 million.
Every institution interviewed that owned crypto held Bitcoin, usually as its largest asset; some set exit conditions for Ether and Solana. None of the 15 institutions interviewed by asset manager Bitwise cut their crypto allocations during a roughly 50% market drawdown, while several bought more. Every institution in the group that owned crypto held Bitcoin (BTC), usually as its largest and longest-held position, while Ether (ETH) and Solana (SOL) were smaller bets with shorter investment horizons and conditions for selling. Bitwise’s Institutional Crypto Adoption Report draws on interviews conducted in late March and April amid a market decline that began in October 2025. The interviews included investment professionals at endowments, foundations, public pensions, sovereign wealth funds,…
OpenAI notified Australia nearly three months after its agent breached a government portal while gathering public medicine-spending data. [Update, 10:45 UTC, Sept. 24: This article was updated with OpenAI’s account of when it learned of the June activity, how it notified Australian authorities and what information its models accessed.] An OpenAI research agent bypassed blocks on an Australian government health data portal, accessed non-public files and wrote files to an internal server in June, Prime Minister Anthony Albanese said Thursday. The government has opened a forensic investigation and announced a review of how it handles AI-related cyber incidents.
A weeklong optimization challenge cut the estimated GPU cost of preparing an experimental quantum-resistant Bitcoin transaction to under $67, potentially making the “last-resort measure” a little easier on the wallet. The estimated computational cost to prepare a quantum-resistant Bitcoin transaction has fallen below $67 after a week of optimization, down from the roughly $320 spent on the first such mainnet transaction in August, according to StarkWare. The results came after participants in the Quantum-Safe Bitcoin Optimization Challenge found ways to push down the GPU computation needed to build a quantum-safe Bitcoin transaction. The reduction could make the experimental defense (which doesn’t require changes to the network’s consensus rules) against future quantum attacks more pract…
The reported initiative could involve private-sector companies and several US agencies as Washington looks to expand the international use of dollar-backed stablecoins. The Trump administration is reportedly considering an initiative to promote the use of dollar-backed stablecoins overseas as part of an effort to reinforce the US dollar’s position as the world’s reserve currency. Citing people familiar with the plans, Bloomberg reported on Wednesday that the US government could support stablecoin projects by creating joint ventures with private-sector firms. The effort could involve several federal agencies, including the Treasury Department, State Department and the US International Development Finance Corporation (DFC). The initiative would seek to expand the international use of dollar…
