Crypto News

Securitize and South Korean technology company LG CNS have signed a memorandum of understanding to explore tokenized funds, stablecoins and digital asset infrastructure for Korean financial institutions. The proposed infrastructure could connect Korean markets with global markets, but no product, launch date or financial terms have been announced, and any services will require regulatory approval. The agreement builds on Securitize’s earlier partnership with KB Securities and Optimism to explore tokenized fund products, and comes ahead of South Korea’s proposed securities-tokenization rules, which could take effect on Feb. 4, 2027. LG CNS also launched a blockchain infrastructure platform for financial firms. Securitize said it had about $5 billion in assets under management as of September. After the announcement, its NYSE-listed shares (SECZ) rose nearly 8% to $12.60. The partnerships signal growing institutional interest in tokenized assets, though regulatory approval and execution remain key hurdles.

Ledger is gradually rolling out Bitcoin-backed loans in its wallet app for eligible users, adding a self-custodial route to stablecoin liquidity. Borrowers can pledge cbBTC or wBTC to receive USDC or USDT without selling their Bitcoin or moving it to a centralized lending platform. Morpho provides the decentralized lending infrastructure, while Yield.xyz handles loan management and position monitoring. Users can review loan-to-value ratios, add collateral and repay in Ledger Wallet, with key transactions approved on a Ledger hardware device. Rates vary with lending-market utilization, and falling collateral values can trigger liquidation; availability also depends on location. Ledger has separately enabled direct Morpho access from hardware wallets without a browser extension. The Bitcoin-backed loans may make it easier for holders to retain BTC exposure while accessing funds, although rollout limits and collateral risks could temper adoption.

The Dunamu-Naver share swap has been delayed for a third time, with completion now scheduled for March 31, 2027, instead of December 31, 2026. Dunamu operates Upbit, South Korea’s leading crypto exchange. The companies say the deal remains subject to regulatory reviews, including a Korea Fair Trade Commission review and financial-sector approvals, amid changes related to South Korea’s Digital Asset Framework Act. The deal’s structure and fixed exchange ratio remain unchanged: each Dunamu share would convert into 2.5422618 Naver Financial shares. Naver Financial plans to issue about 87.56 million shares, valued at roughly 15.13 trillion won, to make Dunamu a wholly owned subsidiary. The shareholder record date is January 18, 2027, and an extraordinary shareholder meeting is scheduled for February 26. Eligible shareholders can exercise appraisal rights from February 26 to March 18. This third Dunamu-Naver share swap delay extends uncertainty around Upbit’s ownership and the companies’ digital finance strategy. Regulatory progress will be crucial to meeting the new completion date. Naver Financial plans to form an IPO committee within a year of closing, but has not decided whether or when to pursue a listing. The delay is not, by itself, a clear market-wide crypto catalyst, though further setbacks could add uncertainty around Upbit’s strategic plans.

California’s proposed billionaire wealth tax remains more likely to fail than pass ahead of the 3 November 2026 election. Earlier Polymarket pricing put its passage odds at 29.5%, while newer data shows 32% on Kalshi and 29% on a related Polymarket contract. The measure, Proposition 40, would impose a one-time 5% levy on the net worth of billionaires who lived in California on 1 January 2026. Most revenue would fund healthcare, with smaller allocations for education and food assistance. Polling shows modest but inconsistent support. Recent surveys found 48% to 52% support and 38% to 46% opposition, with earlier polling showing 14% undecided. Traders should track polling, endorsements or opposition from Governor Gavin Newsom and Secretary of State Shirley Weber, and any changes to the measure’s ballot status. The wealth tax could encourage some billionaires to move assets or relocate to lower-tax states such as Texas or Florida, while also influencing future state tax proposals. The California wealth tax has limited direct implications for cryptocurrency prices. However, possible capital relocation and wider debate over US fiscal policy could affect sentiment toward technology, venture capital and digital assets. Prediction-market pricing and political developments are likely to matter more for trading sentiment than the tax proposal itself.

Spiko has raised $90 million in a Series B funding round led by New Enterprise Associates, taking its total funding to $120 million. The tokenized cash-fund company will use the capital to launch more regulated funds and expand across Germany, Italy, Spain, the Netherlands and the Nordic region. Spiko reported $2.7 billion in assets under management across funds denominated in euros, US dollars, pounds and Swiss francs. Its assets have increased more than fivefold in the past year. More than 10,000 businesses and individuals in over 25 jurisdictions use Spiko products directly or through financial platforms connected to its API. Spiko’s tokenized cash funds are issued on public blockchains while using regulated UCITS structures. The company also manages the registry, transfer-agent and net asset value infrastructure for the funds. Its products have been used in blockchain lending and collateral arrangements involving Chainlink, Morpho and Société Générale-Forge. Spiko plans to develop hourly yield accrual, but has not provided a launch timetable for new funds or the feature. The financing strengthens Spiko’s position in the tokenized money-market sector, but it does not directly change the supply or demand dynamics of major cryptocurrencies. Traders should view the announcement as a long-term adoption signal for blockchain-based financial infrastructure rather than an immediate price catalyst.

The IRS has updated its crypto staking safe harbor for eligible investment trusts and grantor trusts. Revenue Procedure 2026-20 replaces the 2025 framework and allows qualifying trusts to stake digital assets on permissionless proof-of-stake networks without losing their federal tax classification. The crypto staking safe harbor applies mainly to trusts with exchange-listed interests and SEC-filed staking disclosures. Assets must generally be held by qualified custodians, while staking providers must operate independently under arm’s-length agreements. Trusts may retain some assets unstaked for redemptions, expenses, distributions, liquidation, regulatory changes and network-security risks. Staking rewards must be paid in the same digital asset and distributed proportionally within 60 days after the relevant quarter ends. Trusts must also receive protection against qualifying slashing losses. Existing trusts have six months from 6 October 2026 to meet the revised requirements. The guidance protects a trust’s tax classification but does not make staking income tax-free or resolve issues involving airdrops, forks, unrelated business income or US trade activity. The clearer rules could support institutional staking and proposed Ethereum and Solana exchange-traded products. However, strict compliance limits the immediate market impact.

Founders Fund has led a $5 million purchase of Anvil’s ANVL token from the project’s existing treasury. Pantera Capital, Theta Blockchain Ventures, Bullish and Protoscale Capital also participated. Compound founder Robert Leshner and Celo co-founder Rene Reinsberg were among the individual investors. The deal involved tokens rather than equity, and no new ANVL tokens were issued. Anvil is an Ethereum-based collateral and on-chain credit infrastructure protocol, rather than a traditional lending platform. Users lock ETH or USDC in vaults and receive verifiable on-chain Letters of Credit. These commitments can support crypto payments, exchange deposits and business-to-business transactions without requiring users to borrow funds. Anvil Research Labs has also developed an SDK for businesses and financial institutions. Flexa integrated the system in March 2025, while Bullish, Consensus and Bitcoin.com are exploring possible applications. ANVL rose between 83% and 97% following the announcement, briefly lifting its market capitalisation above $109 million and, according to the earlier report, above $110 million. The sharp move signals strong short-term trader interest but also raises the risk of volatility and profit-taking. Anvil’s total value locked is about $14 million, down roughly 87% from its July 2025 peak of about $109 million. ANVL trades near $0.00098, around 89% below its January 2025 all-time high. ANVL has a total supply of 100 billion tokens, with about 80 billion circulating. Anvil charges no transaction fees, so its long-term value depends largely on governance utility, enterprise integrations and real on-chain demand rather than revenue sharing. Traders should monitor whether new partnerships translate into sustained usage and whether the zero-fee model can support development.

The global markets watchlist showed widening regional divergence through October 5, 2026. Five of nine major equity indexes remained in positive territory. Japan’s Nikkei 225 led the global markets with a 39% year-to-date gain, up from 29.2% on September 21. Canada’s TSX rose 13.6%, while the S&P 500 gained 13.4% in the earlier update. The watchlist also includes the FTSE 100, Germany’s DAX and France’s CAC index. India’s BSE Sensex was the weakest performer, with its year-to-date loss deepening from 12.2% to 15%. Hong Kong’s Hang Seng previously stood down 2.3%. The contrasting global markets performance signals differences in regional economic conditions, equity momentum and investor risk appetite. For crypto traders, these indexes can provide context on global liquidity, sentiment and cross-asset volatility, but the data does not identify a direct catalyst for cryptocurrency prices.

Bitcoin initially held near $83,000 during a risk-off session, with $511 million in crypto liquidations dominated by long positions. In the latest update, Bitcoin recovered to about $85,540 and its 24-hour loss narrowed to 0.42%, while total crypto liquidations fell sharply to $139 million. Ethereum slipped 0.79% to $2,696, while Solana and XRP also declined. Bitcoin price remains above its 20-, 50- and 200-day moving averages, with an RSI of 63.4 indicating firm but not overbought momentum. Key Bitcoin resistance is at $87,396 and $88,524, while support is near $83,858 and $79,925. Ethereum support is around $2,678, with resistance near $2,806. However, bearish MACD signals suggest downside momentum is building for both assets. The Crypto Fear & Greed Index has cooled from 74 to 71 but remains in the greed zone. Bitcoin price action and lower liquidation levels point to a cautious, range-bound market rather than a confirmed breakout. Traders are likely to watch whether Bitcoin can hold $83,858 and challenge the $87,396-$88,524 resistance zone, while Ethereum needs to reclaim $2,700 and defend $2,678.

Germany’s financial regulator BaFin has rejected futurum bank AG’s MiCA licence application. The bank operates Bitcoin.de and is owned by Bitcoin Group SE. The application had been pending since 27 June 2025, despite futurum holding a banking licence. Bitcoin.de trading has been largely suspended since 12 June 2026. Bitcoin Group is reviewing the decision and may file an objection or submit a new application. It is also seeking regulated partners to provide trading and custody services through a redesigned Bitcoin.de app. Bitcoin.de has more than 1.1 million registered users. The platform planned to move from peer-to-peer trading to a brokerage model offering more than 100 crypto assets, exchange services and staking. Its planned late-June launch was delayed by the licensing process. Bitcoin Group said customer assets remain secure. However, it reported first-half 2026 revenue of €1.59 million and negative EBITDA of €3.25 million, while expecting weaker full-year revenue and continued losses. The decision is a bearish operational development for Bitcoin.de and Bitcoin Group, and prolonged disruption could reduce user activity. It is not expected to directly affect Bitcoin prices or the wider crypto market. Traders should monitor the timing of the relaunch, the identity of regulated partners and any further regulatory action.

Galaxy Research analysed 12.7 billion trades on Polymarket’s international platform and found that 69.2% of 2.9 million manually trading accounts lost money. Combined losses reached $338.9 million, although the median account lost only about $3, or roughly 0.5% of capital committed. The study excluded 125,429 accounts considered likely to be automated. They represented 4.1% of wallets but generated 80.8% of orders. Losing traders were also more likely to stop trading: 15.2% did not return within 30 days after a loss, compared with 6.1% after a profitable trade. Trading specialisation produced mixed results. Sports-focused accounts performed worst, with 25.1% ending profitably, while technology and science specialists recorded a 41.2% profitability rate. Profitable traders placed larger and more frequent bets, with a median position size of $13.96 versus $10 for losing traders. Holding time showed no clear link to returns. The findings arrive as Polymarket expands in the United States, adds social trading features and introduces taker fees. At a 50-cent contract price, fees on some crypto prediction markets can reach 3.5% of committed capital. Polymarket’s growth could improve liquidity but may also increase retail losses, regulatory scrutiny and concerns about trading-volume quality. The analysis tracks wallet addresses rather than individual people, and authorities in several jurisdictions are examining whether prediction-market contracts constitute unlicensed gambling.

Ethereum co-founder Vitalik Buterin tested a privacy-focused AI architecture for remote model interactions. A local Alibaba Qwen model retained sensitive health and travel data, then removed unnecessary details before sending prompts to remote AI services. The system also used Ethereum-based zkAPI and zero-knowledge proofs to separate AI payments from Buterin’s financial identity, while Tor concealed his IP address and network routing data. The privacy-focused AI system generated useful diet and exercise advice, but performance and privacy trade-offs were clear. The local model processed about 20–30 tokens per second, below the roughly 100 tokens per second needed for a smoother experience. Tor increased latency by 10 to 100 times compared with standard connections. Stronger privacy also reduced the context available to remote models, potentially lowering recommendation quality. Buterin said prompt content, payment data and network metadata must all be protected for robust privacy. The experiment may support long-term interest in zero-knowledge proofs, decentralized infrastructure and privacy-preserving AI. However, it does not change Ethereum network activity, ETH demand or near-term trading fundamentals. The immediate impact on ETH is likely limited.

Pump.fun has continued selling Solana’s SOL, adding to concerns about potential SOL selling pressure. Lookonchain first reported a sale of 47,994 SOL, worth about $5.83 million. In the latest update, Pump.fun sold another 102,500 SOL, valued at approximately $12.41 million, around eight hours before the report. Pump.fun’s cumulative SOL sales have now reached about 5.3479 million tokens, worth roughly $861 million, at an estimated average price of $161 per SOL. The transactions are an important on-chain activity signal for traders monitoring SOL distribution, liquidity and market sentiment. The latest transfer destination remains undisclosed. If the tokens are sent to exchanges, or if further disposals occur during weak liquidity, short-term selling pressure on SOL could increase. However, there is no confirmation that the latest sale occurred on an exchange or that Pump.fun plans additional sales.

Strategy (NASDAQ: MSTR), Michael Saylor’s Bitcoin treasury company, has rapidly become one of the most-traded US stocks. Earlier reports placed MSTR around 20th by trading volume after it surpassed Palantir. More recent data ranks it 24th after its volume moved above Oracle’s, with a 30-day average of 22 million to 25 million shares, or about $3.6 billion to $3.9 billion in daily value. Strategy trading volume reached 46 million to 49.2 million shares in August 2026, briefly placing it among the 10 most-active US stocks. The company’s market capitalisation remains far below Oracle’s, but its Bitcoin-linked activity is significantly higher on some sessions. Strategy reportedly holds more than 800,000 BTC and raised over $5.6 billion through common and preferred share offerings by May 2026 to fund further Bitcoin purchases. MSTR’s high liquidity, estimated 9% to 14% short interest and strong retail participation support short-term trading, but can also amplify price swings. As a leveraged Bitcoin proxy, MSTR remains sensitive to BTC sentiment, crypto-market volatility and changes in its funding strategy. Higher volume may improve execution, while sharp Bitcoin moves could intensify both rallies and sell-offs.

Broadcom has agreed to provide up to $42 billion in financing for Anthropic’s planned TPU capacity leases, according to its IPO prospectus reviewed by Reuters. The financing could cover about one-third of Anthropic’s $125.2 billion, five-year compute commitment. The deal follows a separate $35 billion financing tranche completed in June through the Broadcom-Apollo-Blackstone AI XPV partnership. A special-purpose vehicle will own Broadcom’s custom AI chips and lease them to Anthropic. Broadcom may also convert some lending into Anthropic equity. Anthropic is expected to become Broadcom’s largest custom-chip customer by 2027. Broadcom forecasts about $115 billion in AI semiconductor revenue in 2027 and potentially $230 billion in 2028. The company’s exposure to AI infrastructure demand could therefore increase significantly. Anthropic has disclosed roughly $518 billion in future cloud and infrastructure commitments. It generated nearly $4.6 billion in revenue in 2025, but spent about $7.33 billion on compute and infrastructure and reported more than $8 billion in operating losses. For traders, the Broadcom financing strengthens the AI chip and data-centre investment narrative, but it also creates concentration and circular-demand risks. A slowdown in Anthropic’s growth could weaken both loan repayment prospects and Broadcom’s projected AI semiconductor revenue. The news has no direct fundamental impact on cryptocurrency prices, although it may influence broader technology-sector risk appetite and sentiment toward AI-linked assets.

OKX has secured undisclosed investments from Circle, Ripple, Standard Chartered’s SC Ventures and Qube Research & Technologies, valuing the crypto exchange at $25 billion. The valuation matches the level reported after Intercontinental Exchange (ICE), the New York Stock Exchange’s parent, invested about $200 million and gained a seat on OKX’s board. The latest funding strengthens OKX’s institutional crypto infrastructure and stablecoin ecosystem. OKX and ICE are preparing to launch OKXICE, a 50-50 joint venture for 24/7 trading in tokenized US stocks. The planned platform includes 63 stock tokens, such as Tesla, Microsoft and JPMorgan, and may use USDC, USDT and USDG for trading and settlement. It is expected to run on OKX’s X Layer blockchain under a five-year SEC innovation exemption, although no launch date has been confirmed. The development highlights growing institutional interest in crypto exchanges, stablecoins and tokenized real-world assets. However, the funding amount remains undisclosed, while regulatory uncertainty, liquidity, integration costs and limited institutional demand could constrain adoption. For crypto traders, the news is strategically positive for OKX, OKB and stablecoin-related infrastructure, but the immediate price impact is likely limited.

Fairshake, the crypto industry’s largest political spending network, plans to support 32 incumbent U.S. House candidates ahead of the November midterm elections. The bipartisan slate includes 19 Republicans and 13 Democrats, all of whom supported the House CLARITY Act, a crypto market-structure bill that passed the House in July 2025 but later stalled in the Senate. Fairshake has initially disclosed at least $6 million in independent spending. Six candidates—Democrats Janelle Bynum, Steven Horsford and Derek Tran, and Republicans French Hill, Bill Huizenga and Bryan Steil—will each receive $1 million in campaign support. The remaining 26 allocations have not been announced. Fairshake reportedly holds about $108 million in cash and also plans to spend nearly $30 million opposing Democratic Senate candidate Sherrod Brown in Ohio. As a super PAC, Fairshake cannot donate directly to candidates, but it can finance independent advertising and other campaign activity. The crypto industry’s strategy is focused on lawmakers who support digital-asset, market-structure, stablecoin and securities legislation, rather than on party affiliation. The Fairshake campaign could help preserve a pro-crypto bloc in Congress and influence future regulatory policy. However, the spending is unlikely to create an immediate catalyst for token prices, trading volume or liquidity. The longer-term market impact will depend on election results and whether the supported lawmakers can pass crypto regulation after the election.

Ethereum price recovered from the September pullback and held near $2,718 on October 6. ETH remains above its 20-day moving average at $2,679 and the four-hour Supertrend near $2,660. Traders are watching resistance between $2,738 and $2,808, with a sustained move above $2,800 potentially extending the recovery towards $3,000 and beyond. A break below $2,679 could expose support at $2,630–$2,650, while the former $2,530–$2,540 breakout zone remains an important longer-term level. Short-term Ethereum price signals are mixed. Four-hour Chaikin Money Flow rose to 0.18, indicating stronger buying pressure, but ETH is still trading below its late-September peak in a narrow range. CoinGlass identified significant liquidation clusters around $2,780–$2,790 and $2,630–$2,650, increasing the risk of sharp moves if leveraged positions are triggered. Rising leverage and an estimated increase in ETH short positions could produce either a short squeeze or a deeper correction. Analysts Michaël van de Poppe and Altcoin Sherpa see the potential for an ETH breakout after weeks of sideways trading. Sherpa expects Ethereum to remain range-bound unless Bitcoin makes a substantial upward move and disclosed call options on BlackRock’s ETHA ETF. However, institutional demand has weakened. US spot Ether ETFs recorded $206 million in cumulative net outflows over five sessions, including $50.8 million on October 5, reversing the previous week’s $689.8 million inflow. Ethereum price action therefore faces a balance between improving technical momentum, breakout demand and persistent ETF selling pressure.

Crypto entrepreneur Adam Iza, who called himself the “Crypto Godfather”, has been sentenced in the United States to 78 months in federal prison for defrauding Meta Platforms. Prosecutors said Adam Iza fraudulently obtained Meta Business Manager accounts and advertising credit facilities, then sold access to advertising companies. The scheme generated at least $36.4 million and caused an estimated $13.3 million tax loss. Iza pleaded guilty to conspiracy against rights, wire fraud and tax evasion. He must pay $23,402,766 in restitution. The sentence will run concurrently with a separate 15-year sentence in Connecticut for a Bitcoin robbery case. Prosecutors also linked the case to crypto custodians, the company Zort and the concealment of fraud proceeds. Five former Los Angeles County officers were convicted for allegedly supplying confidential law-enforcement information, conducting illegal searches and intimidating people viewed as rivals or threats. Meta was a victim and did not participate in the fraud. The case does not involve a specific crypto exchange or a flaw in Bitcoin’s network. Its direct impact on crypto prices is likely to be limited, but it highlights tax, compliance and law-enforcement risks for digital-asset businesses and custodial services.

US equities opened higher on 30 September and extended their gains by 6 October 2026. On the latest session, the Dow rose 0.32%, the S&P 500 gained 0.56% and the Nasdaq advanced 0.71%, while the VIX fell 1.42%. AI stocks continued to lead, with Astera Labs up 5.67%, AMD 2.83%, Dell Technologies 2.31%, CrowdStrike 2.24% and Marvell 2.11%. Earlier gains included Super Micro Computer, CoreWeave, Dell, SoundHound AI and Alphabet. The strength highlights ongoing demand for AI semiconductors, data-centre infrastructure and cybersecurity companies. Rising AI stocks may improve short-term risk appetite and support technology-linked assets, but the move is not a direct cryptocurrency catalyst. Crypto traders should monitor Nasdaq momentum, volatility and AI-equity fund flows. MSX.COM’s mention of stock and ETF RWA tokens is promotional and does not confirm stronger crypto demand.

Hong Kong plans to submit a crypto licensing amendment bill by the end of 2026, expanding its existing framework beyond trading platforms. The proposed crypto licensing regime would cover digital-asset exchanges, custody, advisory services and asset management. The current framework, introduced in June 2023, already covers licensed platforms such as HashKey Exchange and OKX HK. The expanded crypto licensing rules could require currently unlicensed providers to seek approval or leave the market, increasing compliance costs and operating barriers. However, clearer regulation may give banks, trust companies, fund managers and other institutions a more defined route into digital assets. The framework could also support stablecoin businesses and tokenised real-world assets. Hong Kong has separately begun licensing stablecoin issuers, with HSBC-linked entities among the approved applicants. The bill must still pass legislative review, so the four-category crypto licensing system may not take effect until 2027 or 2028. The short-term market impact is likely neutral, as traders weigh higher compliance costs against regulatory uncertainty. Over the longer term, clearer rules could support institutional adoption, market stability and liquidity, although the announcement alone is unlikely to drive major cryptocurrency price moves.

Ethereum consensus client Prysm released version 7.2.1 before the Glamsterdam upgrade on the Sepolia testnet. The update makes the 200 million gas limit the default for Prysm validators after the fork, replacing the previous 60 million default that required manual configuration. Glamsterdam is scheduled for Sepolia epoch 353,024, at 13:53:36 UTC on 6 October 2026. The higher gas limit, introduced under EIP-8261, could allow more transactions and on-chain operations per block, but it will also increase hardware and execution-node performance demands. Prysm 7.2.1 enables partial data columns by default and fixes an issue involving construction of the first post-fork block. Older command-line settings can still override the new limit, although Prysm now displays a startup warning. Teku continues to use a 60 million gas default and requires operators to set 200 million manually. Glamsterdam combines the Gloas consensus-layer and Amsterdam execution-layer upgrades, including enshrined proposer-builder separation and block-level access lists. Hoodi and Ethereum mainnet activation dates remain undecided. For traders, Prysm and Glamsterdam are important Ethereum infrastructure developments, but the testnet rollout does not directly alter ETH market conditions. The immediate price impact is therefore likely to be limited.

Binance will update collateral ratios and leverage parameters on 9 October 2026 at 06:00 UTC, replacing an earlier schedule set for 2 October. The update will affect cross-margin loan transfer-out collateral ratios, Unified Account collateral ratios and leverage, and tiered collateral ratios for Unified Trading Account Pro users. The latest list includes BCH, CRCLB, ENA, MSTRB, ONDO, WCT, MASK, ZEC, ALICE, LQTY, BANANA, XAI, YGG, ACE, PORTAL, G and THETA. The earlier notice also mentioned ACH and AGLD. Binance expects the changes to be completed within about 30 minutes. Traders should review margin positions, borrowing capacity and liquidation buffers before the update. Changes to Binance collateral ratios may raise or reduce effective leverage, affecting funding demand, short-term volatility and liquidation risk.

Bitcoin long-term holders (LTHs) have reduced their holdings for seven consecutive weeks as BTC rises, signalling gradual profit-taking rather than an immediate supply shock. LTH holdings fell by about 73,400 BTC by 28 September, compared with 1,100 BTC the previous week, after the supply-change indicator turned negative on 17 August. This followed accumulation from February to early August, including an estimated 1.2 million BTC increase in May. Current Bitcoin LTH selling remains below the roughly 1.07 million BTC reduction recorded in November 2025. LTH SOPR stayed above 1 for two weeks, reaching 1.24 on 21 September before easing to 1.18 on 28 September, indicating average realised profits of about 18%. New demand has so far absorbed the additional Bitcoin market supply and supported the price. Traders should monitor LTH outflows, spot demand and BTC momentum. A further distribution wave of several hundred thousand BTC, combined with a stalled Bitcoin price, could signal weaker demand and increased downside risk.

BlackRock’s Bitcoin ETF, IBIT, remains the leading US spot Bitcoin ETF as investor demand recovers. IBIT first recorded $108.44 million in inflows in one session, with holdings estimated at 770,000–786,000 BTC. It has often attracted $80 million to more than $200 million a day and accounted for 50% to 80% of total spot Bitcoin ETF inflows. The latest update showed a further $69.85 million inflow. Although this was below IBIT’s $195.6 million inflow on 1 October and its $183.41 million inflow in July, it came during a broader recovery in Bitcoin ETF flows. US spot Bitcoin ETFs recorded nine consecutive days of inflows in late September, attracting about $3 billion. IBIT took in roughly $1.2 billion during one strong September week, while Fidelity’s FBTC and ARK 21Shares’ ARKB also received capital. The recovery reversed a cumulative ETF-flow deficit that had approached $5.8 billion during the mid-2026 downturn, returning total flows to modestly positive territory. Morgan Stanley’s MSBT also acquired about 642 BTC, worth roughly $50.6 million, through Coinbase Prime transfers over two weeks in September. MSBT has recorded more than $538 million in cumulative net inflows and almost no outflows since its April launch. BlackRock has also lowered the minimum for in-kind IBIT conversions from $25 million to $1 million, with cumulative conversions exceeding $5 billion. This could widen access for family offices, smaller registered investment advisers and high-net-worth investors. Sustained Bitcoin ETF inflows are positive for Bitcoin sentiment, but the heavy concentration in IBIT means traders should monitor daily ETF flows, BTC price momentum and whether demand broadens across competing funds.

Safe governance is under scrutiny after early investor Greenfield Capital filed a complaint with Switzerland’s Federal Supervisory Authority for Foundations. Greenfield is seeking a review of the Safe Ecosystem Foundation and possible board restructuring after more than a year of discussions. The investor says Safe’s current governance lacks independence and relevant financial, risk-management and corporate-governance expertise. It questioned links involving board member Stefan George and Gnosis, which has competing wallet products, as well as Richard Meissner’s association with the company developing and operating Safe products. Greenfield wants George removed and independent directors appointed. It also alleged that George and Gnosis co-founder Martin Köppelmann pressured Safe founders over SAFE token allocations after the February 2025 Bybit hack. These allegations have not been tested in court. Safe’s operating indicators have also weakened. Second-quarter revenue was $1.98 million, implying an annualised run rate of about $8 million, below its $20 million 2026 target. Assets managed through Safe wallets fell from about $6.6 billion in early 2024, or $66 billion under the later reporting metric, to roughly $3 billion, or $30 billion, in the latest figures. This decline came while DeFi total value locked rose by about 40%. Safe has also lost stablecoin market share. Global stablecoin supply increased by about 135%, while stablecoins held in Safe wallets on Ethereum rose only 11%. Safe’s share of circulating USDC fell from 12.8% to 2.5%. The Safe governance dispute may not immediately affect operations, but it raises regulatory and reputational risks. Traders should monitor the regulator’s response, board changes, revenue updates, wallet outflows and any renewed selling pressure in SAFE.

Fairshake PAC, backed by Coinbase, Ripple Labs and Andreessen Horowitz, will support 32 incumbent House members who voted for the CLARITY Act in the 2026 US midterm elections. The group is backing 19 Republicans and 13 Democrats, including House Financial Services Committee Chair French Hill. Fairshake PAC will initially spend at least $6 million, giving $1 million each to six candidates: Democrats Janelle Bynum, Derek Tran and Steven Horsford, and Republicans French Hill, Bill Huizenga and Bryan Steil. The PAC held about $120 million to $122 million in cash, leaving funds for additional House and Senate races and late-cycle advertising. It is expected to spend more than $100 million overall, including at least $30 million on Ohio Senate candidate Jon Husted against Democrat Sherrod Brown. The CLARITY Act passed the House 294-134 in July 2025. It would establish digital-asset market rules and divide oversight between the Securities and Exchange Commission and Commodity Futures Trading Commission. However, the bill remains stalled in the Senate after a 49-50 cloture vote on 15 September 2026, well below the 60-vote threshold. For crypto traders, the Fairshake PAC campaign signals sustained political support for clearer crypto regulation, but it does not resolve the Senate deadlock. The immediate price impact is likely limited. Election results and future congressional votes could affect regulatory risk, exchange operations and institutional participation over the longer term.

DeFi Development Corp (Nasdaq: DFDV) has continued building its Solana treasury, but its buying pace has slowed. The company acquired about 47,706 SOL and SOL equivalents after 21 September, then bought a further 26,203 SOL between 28 September and 2 October for roughly $3 million. Its treasury now holds about 2,564,212 SOL and SOL equivalents, valued at approximately $302 million as of 5 October. The latest purchase increased the Solana treasury by about 1% from 25 September. Buying has fallen from 101,381 SOL in the week ending 18 September to 47,706 SOL the following week and 26,203 SOL most recently. Since its 12 August earnings update, the treasury has grown by about 11%, or more than 226,000 SOL equivalents. DeFi Development Corp is a digital asset treasury company modelled partly on Strategy’s Bitcoin approach. It offers shareholders leveraged SOL exposure and operates Solana validators that generate network rewards. The company uses staking, validator operations, its CHAD preferred stock and a $300 million at-the-market share-sale programme to fund its strategy. It paid the first annualised 13% CHAD dividend on 1 October. Continued SOL accumulation may provide some support for Solana sentiment, but the slower buying pace and reliance on equity financing are important risks. Returns also depend on SOL’s price, staking performance, financing costs and the premium or discount of DFDV shares to the value of its crypto treasury. The announcement is unlikely to materially affect the wider crypto market in the short term.

Aptos has introduced an optional Encrypted Mempool to protect pending transactions from frontrunning, sandwich attacks and other forms of maximal extractable value (MEV). The Aptos Encrypted Mempool hides transaction instructions while validators determine block order, then decrypts them before execution. Confirmed transactions remain publicly recorded onchain. The feature uses threshold encryption and batch processing. Aptos researchers reported an additional 27 milliseconds of proposal-to-execution latency, or about 14% above baseline, while online decryption could take less than 20 milliseconds per batch. Earlier rollout information said the system was live on devnet, with testnet support expected and mainnet deployment dependent on governance approval. The proposal remains subject to Aptos governance, and the feature is opt-in. The upgrade targets professional trading activity, including users of Decibel, Aptos’ order-book and perpetual futures platform. Decibel has reportedly exceeded $1 billion in cumulative volume, while Aptos cited hundreds of billions of dollars in monthly DEX trading activity across the market. Aptos and the Aptos Foundation have also committed more than $50 million to products, protocol research, trading infrastructure and artificial intelligence partnerships. For APT traders, the Aptos Encrypted Mempool could reduce order-flow leakage and improve execution fairness if validators, exchanges and users adopt it. However, the near-term price effect is likely limited because deployment is not final and adoption remains uncertain. Governance results, testnet performance, security findings and usage rates are the main catalysts to monitor.