Tether’s USDT, a $184 billion digital dollar, is coming back to Bitcoin this month, more than a decade after it first launched there. The new version promises private payments, with most details kept off Bitcoin’s public record.
USDT is the largest stablecoin, a crypto token pegged to the US dollar. It returns just as Washington asks whether Tether can police the coins it already has.
What Changes for USDT Holders When It Returns to Bitcoin?For now, nothing. Tether billed the move as an expansion of its Bitcoin support in a 2025 announcement. Coins on Tron and Ethereum stay where they are.
“USDT on Bitcoin. It’s coming home,” wrote Paolo Ardoino, CEO of Tether.
Ardoino set out the goal in 2025, promising exchanges and wallets private transfers, BTC-to-USDT swaps, and loans backed by Bitcoin.
“Bitcoin deserves a stablecoin that feels truly native, lightweight, private, and scalable,” Ardoino said at the time.
Is USDT Leaving Tron and Ethereum?
There’s no sign of that. Today, about $92 billion of USDT sits on Tron, roughly half of all coins in circulation, according to DefiLlama. Ethereum holds another $74 billion. Together, the two networks carry more than 90% of the supply.
Stablecoin Usage by Chain. Source: DefiLlamaTether’s 2025 announcement says nothing about pulling USDT from those networks. Its title describes the move as expanding Tether’s Bitcoin support.
Still, Tether has dropped networks before. In September 2025, it ended support for five older networks, including Omni, the Bitcoin-based system where USDT first launched.
The rollout belongs to Utexo, a startup that raised $7.5 million in a round Tether led. Co-founder Viktor Ihnatiuk said this week that Utexo now holds a commercial license to issue the coin.
The technology underneath is RGB, a system for issuing tokens like USDT on Bitcoin. Payment details stay with the sender and receiver and only a small digital fingerprint is recorded on Bitcoin.
Instead of replacing Tron and Ethereum, the Bitcoin version draws on them. Utexo’s bridge, a tool for moving coins between networks, takes in USDT mainly from Ethereum and Tron, according to the RGB Protocol Association.
For users, the token is the same one, pegged to the dollar. The difference is which network it travels on.
Exchanges already ask users to pick a network, such as Tron or Ethereum, before they send USDT. Sending coins on the wrong network can mean losing them.
Can Tether Still Freeze a Private Dollar?Freezing is Tether’s main answer to critics. When US senators said Iran leans on Tether’s USDT to dodge sanctions, Tether pointed to $550 million it had frozen.
On Tron and Ethereum, every USDT transfer sits on a public record. Investigators can follow the money.
The RGB version hides most of that trail. Tether’s announcement does not say how freezes would work.
Utexo has brought in Crystal Intelligence, a blockchain-tracking firm, for compliance, according to the RGB Protocol Association. Ihnatiuk himself plays down the privacy pitch.
“RGB…is mainly just a token standard, one that also brings you privacy, but that’s more of a side feature,” RGB reported, citing Ihnatiuk.
The launch has also slipped past a mid-September window Utexo once called realistic.
Meanwhile, Utexo has met Morgan Stanley to discuss USDT on Bitcoin. Support for Lightning, a faster Bitcoin payment network, comes after launch. Until wallets and exchanges switch it on, Bitcoin USDT has nowhere to travel.
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The cryptocurrency market advanced early Friday evening, with Bitcoin climbing to $86,688—up 3.38% over 24 hours—after the latest US Non-Farm Payrolls data showed job growth of just 29,000, missing forecasts of 84,000 to 90,000. Unemployment edged higher to 4.2%, and total crypto market capitalization kept within the $2.94 to $3.03 trillion range as traders took stock of macroeconomic signals and sector developments.
Institutional flows and ETF performance reinforce market momentumBitcoin’s move was echoed by positive trends among institutional products. SoSoValue reported that spot Bitcoin ETFs recorded net inflows of $103 million. BlackRock’s IBIT performed strongly with $196 million in new capital, counterbalancing an outflow of $61 million from Fidelity’s FBTC. In contrast, Ether ETFs saw daily net outflows totaling $55 million.
Ethereum itself broke out from a prolonged sideways price range, increasing 1.69% to $2,749.47, mirroring wider optimism driven by new market catalysts and infrastructure changes.
The total value locked across major cryptocurrencies reflected these shifts, as capital rotated between key assets aligned with developing headlines in Washington and on global exchanges.
AssetPrice24h ChangeMarket ShareBitcoin (BTC)$86,688+3.38%59.10%Ethereum (ETH)$2,749+1.69%11.39%Solana (SOL)$122.62+4.18%N/AXRP$1.5444+3.57%N/A“It’s coming home”: Tether launches USDT on Bitcoin with UtexoTether, the world’s largest stablecoin issuer, is returning USDT to the Bitcoin blockchain through Utexo, a platform specializing in integrating USD-backed tokens on Bitcoin-based networks. Utexo completed a $7.5 million seed funding round, co-led by Tether, alongside Portal Ventures and Big Brain Holdings.
Tether CEO Paolo Ardoino actively supported the initiative, referencing the launch with the phrase, “It’s coming home.” Utexo seeks to expand USDT’s reach by leveraging Bitcoin’s native infrastructure, combining technologies such as RGB and Lightning Network.
Backers expect Utexo’s RGB implementation in October 2026 to transform Bitcoin into a settlement channel for dollar-denominated transactions, shifting its role beyond a store of value.
Utexo’s co-founder Viktor Ignatyuk stated that the company is in discussions with Morgan Stanley to facilitate broader integration into mainstream banking custody. Hundreds of exchanges and wallet providers have shown interest in the development.
Currently, nearly $184 billion USDT circulates, representing about 60% of the global stablecoin market, while much of the remaining supply resides on Ethereum and Tron. By comparison, tokenized USDT activity on Bitcoin has been minimal due to technological limitations on legacy networks such as Omni Layer. The new initiative could address Bitcoin’s tiny share of stablecoin volume and restore its relevance in this segment.
Mini dictionary: Utexo is a technology company specializing in deploying stablecoins and digital assets on Bitcoin using the RGB protocol and Lightning Network, which enables the issuance and transfer of digital tokens on top of Bitcoin in a scalable manner.
Regulatory shifts, M&A activity, and Solana’s RWA milestoneUS regulators are signaling an easing of the policy climate for digital asset firms. On her last day in office, SEC Commissioner Hester Peirce joined new SEC Chair Paul Atkins and Commissioner Mark Uyeda in proposing new rules for digital asset custody. The reforms would allow registered investment advisers and funds to use state-chartered trust firms and some degree of self-custody, provided robust cybersecurity standards are met.
Simultaneously, the SEC and CFTC are drafting joint rules to supersede the stalled CLARITY Act. Paul Atkins acknowledged the maturation of crypto assets into a trillion-dollar market. Other regulatory measures, including the Federal Reserve’s GENIUS Act and the Innovation Exemption for NMS, remain in force until at least 2031.
Utexo’s seed raise and Armada’s Nasdaq debut capped a week of major US policy and market structure changes, creating new opportunities for institutional participation.
The merger of Armada Acquisition Corp. II and Evernorth received shareholder approval, and the combined entity will debut on Nasdaq under the ticker XRPN on October 8. The firm will hold 473 million XRP, valued at about $730 million. As anticipation built, XRP rose 3.57% to $1.5444.
Concurrently, Solana reached a record 1.2 million wallets holding tokenized stocks, with 775,000 new unique addresses added in September. This surge brought Solana’s market share of on-chain real-world asset (RWA) activity to 95%. The SOL token rallied by 4.18% to $122.62.
By contrast, AI-themed crypto assets—such as NEAR, Bittensor (TAO), and Render—underperformed, while Quant (QNT) dropped 16% to $250 following the realization that its integration into The Clearing House system did not require the asset itself, impacting investor sentiment. SHIB coin continued to trade within a tight range, showing minimal reaction to market trends.
Mini dictionary: The Clearing House is a US-based entity that operates payment systems for banks and financial institutions, providing critical infrastructure for interbank transactions.
Derivatives market squeeze and key trading levelsHigh volatility dominated the crypto derivatives market, as total liquidations hit $362.77 million in 24 hours. Nearly $269.87 million of these losses affected short positions, signifying a challenging environment for bearish traders. Around 79,443 traders saw positions forcibly closed in this liquidation cascade.
Open interest in Bitcoin futures reached 653,000 BTC, equating to $56 billion, amid a tripling of funding rates—a sign of increased leveraged bullish bets rather than direct spot purchases.
Key LevelBTC ValueETH ValueSupport$82,600$2,635–$2,660Resistance$87,200–$87,600$2,740–$2,800Critical liquidation trigger$75,800 (>$6.7B long liquidations)$2,420 (>$4.17B long liquidations)On-chain data from CryptoQuant indicated a 40% spike in monthly stablecoin inflows to Binance from addresses holding over $1 million, providing fresh buying power for possible price corrections.
The macroeconomic outlook, centered around weaker jobs growth and unemployment at 4.2%, lessens expectations for a Federal Reserve rate hike in October, while the ISM PMI price index at 77.9 adds potential inflationary pressure. Citigroup’s year-end price targets remained key psychological reference points with $113,000 for Bitcoin and $3,028 for Ethereum, supporting sentiment in the wake of today’s developments.
Uniswap Labs se spojila se SMBC Nikko Securities, třetím největším brokerem v Japonsku, spolu s Base a Nyx Foundation, na vytvoření platformy DeFi Gateway pro japonský trh. Projekt má využít Uniswap v4 Hooks k vytvoření rámce likviditních poolů v souladu s pravidly proti praní špinavých peněz (AML) a financování terorismu (CFT).
Uniswap (UNI) price is up slightly by 0.65% today, October 2, to trade at $9.11 at the time of writing. The slight gains mirror the recovery across the broader crypto market as Bitcoin (BTC) reclaims $86,000.
Uniswap gains also come as SMBC Nikko Securities partners with multiple crypto firms, including Uniswap Labs, to create a DeFi Gateway that targets the Japanese market.
SMBC to Launch a DeFi Gateway With Uniswap Labs SMBC Nikko Securities ranks as the third-largest brokerage firm in Japan, and it has now signed a memorandum of understanding (MoU) with Uniswap Labs, Base, and Nyx Foundation to offer access to DeFi services.
The initiative will use Uniswap v4 Hooks to create a liquidity pool framework that is compliant with anti-money laundering (AML) and counter-terrorism financing (CFT) laws.
The firms plan to launch the DeFi platform by mid-2027, with each progress made towards launch set to be shared with various regulatory bodies in Japan.
The launch comes barely four months after Standard Chartered forecast that the liquidity pools on Uniswap could have 37 times more assets by 2030. As CoinGape reported, the bank forecasts that UNI price could surge 40 times in the next four years.
Open Interest Remains Elevated After 53% Rally Data from CoinGlass shows that Uniswap’s open interest increased from $491 million in mid-September to more than $900 million by the end of September.
While the OI has dropped slightly from the September high of $971 million, it remained elevated at $915 million at the time of writing.
UNI Open Interest (Source: CoinGlass) The high open interest suggests that the traders who opened futures positions on UNI price in September as the price soared have yet to close their positions.
The weighted funding rate also remains positive, suggesting that long-buyers are paying more to keep their positions open as doubts grow that the Fed will hike interest rates during the October Federal Open Market Committee (FOMC) meeting.
Still, the long/short reading in Binance has dropped from 1.86 on September 25 to 1.57 at the time of writing, suggesting that some long traders are closing their positions.
UNI Price Rally Loses Steam but 20D EMA Support Holds The Uniswap gains that occurred in September are cooling down, with UNI price now consolidating within a symmetrical triangle pattern.
The ADX reading above 50 suggests that Uniswap remains in an uptrend. However, the ADX line that is tipping south signals a bearish future Uniswap outlook because it shows that the uptrend is becoming weak.
If UNI closes below the support at the lower trendline of the symmetrical triangle, the price could drop to test the support at the 20-day EMA of $8.48.
UNI/USDT 1D Chart (Source: TradingView) However, if the uptrend resumes and UNI closes above the resistance at the 78.7% Fib of $9.26, it could kickstart another bullish leg towards $10.
Útočník po hacku Bitget za 387,5 milionu USD přesunul většinu prostředků přes cross-chain služby do bitcoinu. Veřejně bylo zmrazeno jen asi 840 tisíc USD, tedy 0,2 % ukradené částky.
Bitget’s attacker has moved much of the exchange’s $387.5 million theft toward Bitcoin through cross-chain services, while only around $840,000 had been publicly frozen five days after the Sept. 24 breach.
Summary
Bitget says attackers moved $387.5 million from hot and warm wallets across blockchains in September. BlockSec estimates attackers still controlled roughly $342 million five days after the Bitget theft began. Tether, Circle and NEAR Intents froze roughly $840,000, equal to only 0.2% of stolen funds. THORChain handled about $269 million in pass-through value, while Bitcoin became the main consolidation asset. North Korea remains suspected, but BlockSec says current onchain evidence does not establish attacker identity. BlockSec reported that the stolen funds followed three main paths: quickly converting assets that issuers could freeze, consolidating value from several chains into Bitcoin and gradually sending BTC into CoinJoin transactions.
The security firm based its analysis on addresses published through Bitget’s tracking dashboard and a Sept. 29 snapshot, meaning the balances and laundering totals can continue changing as funds move.
How did the Bitget hacker move the stolen money? Bitget said the breach began at 18:31 UTC on Sept. 24 with unauthorized transfers from portions of its hot and warm wallet infrastructure.
BlockSec found that the first transactions involved tiny test transfers of 0.84 ETH and 93 TRX. Larger withdrawals started at 18:58 UTC, while Bitget’s reconciliation system detected a discrepancy seven minutes later and blocked ordinary customer withdrawals.
The attackers were not relying on the normal customer withdrawal process, according to Bitget. The exchange said a vulnerability in a third-party security product gave the attackers high-level internal credentials, which were then used to submit forged withdrawal commands directly into its wallet system.
Private keys were not compromised, Bitget said, while its cold wallets remained unaffected. Independent investigations by Mandiant and SlowMist later confirmed that compromised third-party security software enabled unauthorized access to the exchange’s wallet environment.
The loss was initially estimated at $351.6 million before Bitget expanded the figure to roughly $387.5 million after accounting for Zcash and Tron transfers. BlockSec counted 13 stolen assets across 12 chains, with XRP representing the largest single-chain loss.
Assets that could be frozen were moved first. BlockSec found roughly $75.48 million in USDT, USDC and USDT0, plus 3,000 XAUt tokens, were converted into ETH or AVAX within 41 minutes of their theft.
Uniswap, UniswapX, 1inch and MetaMask’s built-in swap service appeared among the routes used. BlockSec said all those conversions were completed before Bitget CEO Gracy Chen publicly disclosed the breach.
Why has only $840K of Bitget’s $387M been frozen? Once the assets had been converted, the attacker began moving value between chains and toward Bitcoin.
BlockSec estimated that around $269 million in pass-through value moved through THORChain across 7,804 transactions by its Sept. 29 snapshot. Chainflip handled roughly $37.27 million, while USDT0/LayerZero, Circle’s CCTP, Across and Stargate appeared in other routes.
Those figures cannot be added together as separate stolen amounts. BlockSec cautioned that the same funds can move through more than one protocol while traveling between chains.
Nearly five days into the laundering process, BlockSec estimated attacker-controlled wallets still held approximately $342 million, equal to 88.3% of the original stolen amount. Bitcoin accounted for around 83.7% of that balance, or roughly 3,386 BTC.
Publicly visible freezes were much smaller.
Tether and Circle had immobilized around $340,000 in stablecoins. Much of that money became vulnerable to freezing because it remained at addresses long enough for the issuers to respond.
NEAR Intents separately said its SHIELD risk system caught attempts to route more than $50 million through the service. BlockSec’s review of the disclosure found roughly $503,000 was stopped during execution, while around $166,000 passed through.
The NEAR Intents figures carry an estimated error margin of up to 10%, according to the service’s own disclosure.
Earlier coverage of NEAR Intents blocking Bitget-linked transfers found that some funds were left in pending transactions after being flagged during the swap process.
Combined, the Tether, Circle and NEAR Intents actions put publicly visible frozen funds near $840,000, just 0.2% of the amount stolen.
Why did so much Bitget crypto move through THORChain? THORChain became the largest cross-chain route identified by BlockSec, drawing criticism from Bitget as stolen ETH continued to be converted into BTC.
Chen publicly asked THORChain to reject known attacker addresses, arguing that “decentralization is a design principle, not a shield” for stolen funds.
THORChain rejected the request and said its emergency halt functions are designed to protect the protocol as a whole, not selectively censor individual transactions.
The network said an emergency halt “is not a selective freeze” of a specific transaction or user.
A Bitget-linked wallet later swapped about $6.3 million of ETH into Bitcoin through THORChain, completing 27 swaps that produced approximately 75.2 BTC.
Other stolen funds reached Bitcoin mixers. BlockSec counted about $3.94 million entering CoinJoin transactions by Sept. 29.
One Sept. 27 CoinJoin transaction contained 356 inputs and 401 outputs. Four inputs, each containing 2.5 BTC, came from addresses Bitget’s tracker identified as belonging to the attacker.
Separate tracking of Bitget funds entering Wasabi CoinJoin previously found a route starting on Tron, passing through Ethereum and THORChain, then reaching Bitcoin before mixing.
Did North Korea carry out the Bitget hack? North Korean involvement remains an assessment, not a confirmed attribution by law enforcement.
Chen has said IP behavior and onchain patterns were “consistent with techniques used by DPRK-linked hacker groups.” Bitget said some IP addresses matched VPN infrastructure previously associated with a North Korean group, but the technical evidence behind that comparison has not been made public.
BlockSec found other possible links, including overlap with laundering methods used in attacks attributed to TraderTraitor and the use of THORChain to convert assets into Bitcoin.
Researcher ZachXBT identified several Chinese-speaking underground money launderers that he said were handling funds for the attacker. One had reportedly appeared in laundering activity connected with an earlier exploit.
Arkham separately pointed to the use of a peel-chain technique frequently associated with North Korean-linked operations.
BlockSec cautioned against treating those similarities as proof of attacker identity. Money-laundering services can work for different clients, while protocols such as THORChain and CoinJoin are available to unrelated users.
The security firm said the evidence points more directly to possible reuse of laundering groups than proof that the same hackers carried out earlier North Korean-linked attacks.
The comparison has centered partly on the 2025 Bybit theft. U.S. authorities formally attributed that $1.5 billion attack to North Korea’s TraderTraitor operation, while THORChain was heavily used to move the stolen Bybit funds.
No law-enforcement agency has publicly attributed the Bitget breach to North Korea as of the latest verified updates.
What happens next for Bitget and the stolen funds? Bitget continues to trace wallets and is offering a bounty for recoveries. The exchange offers qualifying participants 5% of funds they directly help freeze and another 5% for funds successfully recovered.
The Bitget recovery bounty was launched while Mandiant, SlowMist, exchanges and blockchain investigators continued tracking attacker addresses.
Bitget has already restored Bitcoin, Ether and USDT withdrawals in phases. Its published schedule places other tokens, fiat withdrawals and P2P services at 08:00 UTC on Oct. 2, although the exchange’s official incident page had not yet posted a separate confirmation of that final reopening when checked.
Bitget says the exploited vulnerability has been fixed and user balances remain unaffected. Its forensic investigation, law-enforcement work, fund tracing and recovery effort remain open, while the exchange says further material findings will be published through its official security updates.
Core Lightning varuje, že útočníci cílí na neaktualizované Bitcoin Lightning nody, a vyzývá provozovatele verzí 26.06.7 a starších k okamžité aktualizaci.
The team behind Core Lightning, an open-source node software for the Bitcoin Lightning Network, has urged operators running older versions to upgrade immediately after receiving reports of attackers targeting unpatched nodes.
“Urgent security update: If you’re running version 26.06.7 or earlier, please upgrade to the latest release as soon as possible,” the team said on Friday.
Core Lightning did not specify which vulnerabilities attackers were targeting or the potential impact. Cointelegraph reached out to Core Lightning for comment.
Source: Blockstream
On Sept. 16, Core Lightning said it was investigating reports of a potential issue affecting experimental features in Core Lightning that could impact user funds. It then released version 26.06.8 around six days later.
The Sept. 22 update delivered bug fixes alongside patches for “vulnerabilities responsibly reported by a number of sources.” The release notes credit the Bitcoin Red Team and 12 other named individuals and groups, along with anonymous reporters.
Some of the fixes addressed flaws that could crash senders’ nodes, requests that could exhaust memory in its REST interface and a channel-closing bug that could cause users to lose funds to a penalty, according to the changelog.
However, the release deliberately withheld some tests to make it harder for attackers to reverse-engineer and exploit vulnerabilities while operators upgraded.
In August, Core Lightning said it was working on a coordinated fix after assessing a high volume of AI-generated Common Vulnerabilities and Exposures (CVE) reports over recent weeks.
Two days later, it released 26.06.7 to address the confirmed vulnerabilities.
Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.
Kongres zvažuje návrh, který by bankám a úvěrovým družstvům umožnil držet kryptoměny a vydávat stablecoiny. Šlo by o přechod od dosavadního vedení k zákonnému povolení.
Congress is considering a legislative proposal that would allow banks and credit unions to hold cryptocurrencies and issue stablecoins, according to a report. This development comes amid ongoing efforts to integrate digital assets into the financial sector through the GENIUS Act, which established a framework for payment stablecoins in the U.S. The proposal would mark a shift from the current guidance-based approach to statutory permission, potentially broadening institutional participation in the crypto market. The decision could have significant implications for the financial sector, as it would enable federally insured institutions to engage more directly with digital currencies.
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Key Takeaways The proposal appears to reflect a shift towards statutory permission for banks and credit unions to engage in cryptocurrency activities. Market behavior suggests participants may see this development as supportive of increased institutional adoption of digital assets. Pricing in relevant markets indicates a potential rise in confidence regarding Bitcoin’s future price trajectory. What to Watch Observers should monitor any legislative progress on this proposal, as its advancement could be consistent with scenarios where Bitcoin’s price increases. Key dates include congressional sessions where this proposal might be debated or voted on. Additionally, developments regarding related regulations and announcements from major banks and credit unions about their intentions could further influence market expectations.
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What Price Will Bitcoin Hit Before 2027
Contract Odds Δ since publish Volume 24h December 31 1% — — View market → December 31 1.4% — — View market → December 31 2.9% — — View market → December 31 3.8% — — View market → December 31 10.5% — — View market → January 1 2027 43% — — View market → January 1 2027 4.5% — — View market → January 1 2027 1% — — View market → January 1 2027 1.1% — — View market → January 1 2027 1.9% — — View market → January 1 2027 3.2% — — View market → January 1 2027 5.2% — — View market → January 1 2027 18.5% — — View market → January 1 2027 9% — — View market → January 1 2027 2.4% — — View market → January 1 2027 0.8% — — View market → January 1 2027 0.8% — — View market → January 1 2027 6.5% — — View market → January 1 2027 3.1% — — View market → January 1 2027 2.1% — — View market → January 1 2027 1.6% — — View market → January 1 2027 0.5% — — View market → January 1 2027 0.7% — — View market → January 1 2027 0.5% — — View market → January 1 2027 0.2% — — View market → January 1 2027 58% — — View market → January 1 2027 29.5% — — View market → January 1 2027 19.5% — — View market → When Will Bitcoin Hit 150k
Contract Odds Δ since publish Volume 24h December 31, 2026 2.4% — — View market →
MMF schválil pro El Salvador okamžitou výplatu zhruba 138 milionů USD poté, co prominul porušení podmínky týkající se akumulace bitcoinů. Fond uvedl, že další navyšování má být jen z doložených darů.
El Salvador has secured an immediate IMF disbursement of roughly $138 million after the lender completed two reviews of its $1.4 billion program and granted waivers for missed conditions, including one tied to Bitcoin accumulation.
Summary
IMF approved about $138 million after waiving El Salvador’s breach of Bitcoin accumulation limits Thursday. El Salvador documented recent Bitcoin additions as private donations, with no public resources used directly. IMF expects no further Bitcoin accumulation beyond documented donations under the current lending program commitments. Chivo’s majority ownership and operational control moved to a private operator, according to the IMF. IMF projects El Salvador’s economy will grow 4.5% in 2026 and 4% during 2027 respectively. The IMF said its Executive Board completed the second and third reviews under El Salvador’s 40-month Extended Fund Facility on Oct. 1, releasing SDR 101.96 million, worth about $138 million at the Fund’s stated conversion. Bloomberg reported the amount as $139 million.
The board found that several performance criteria had not been met, including the condition covering Bitcoin accumulation. Waivers were granted after what the IMF described as corrective measures and renewed commitments from Salvadoran authorities.
BREAKING: 🇸🇻 IMF approves a $139 MILLION payout to El Salvador after waiving its Bitcoin accumulation limit breach.
🇸🇻 El Salvador continues its Bitcoin strategy. pic.twitter.com/NFRPSxItzJ
— EyeWhales (@EyeWhales) October 1, 2026 Why did the IMF waive El Salvador’s Bitcoin breach? El Salvador’s original IMF program placed a continuous restriction on voluntary Bitcoin accumulation by the public sector. Earlier program documents defined voluntary accumulation as purchases or mining, while excluding Bitcoin acquired through seizures, forfeitures and similar law-enforcement actions.
By September, however, the IMF and Salvadoran authorities had reached an agreement over Bitcoin that had appeared in government-controlled wallets since the first review. The Fund said documentation supplied by El Salvador showed the accumulation came from private donations and that no public resources were used.
The finding clarified earlier questions over wallet movements that appeared to show El Salvador continuing to add Bitcoin after agreeing to limit state accumulation. El Salvador’s privately donated Bitcoin noted that the IMF accepted documentation tracing those additions to donations, although donor identities and individual donation amounts were not made public.
The Oct. 1 board decision does not authorize a return to government-funded Bitcoin purchases. The IMF said “no further Bitcoin accumulation is expected beyond documented donations,” making the statement a forward-looking program expectation tied to the current agreement.
Earlier IMF documents had recorded smaller technical breaches of the Bitcoin condition because balances held for Chivo customers could fluctuate, even while public-sector holdings remained unchanged. The latest release does not say those earlier technical issues alone explain the new waiver.
El Salvador must keep cutting the state’s crypto role Bitcoin is only one part of the IMF’s conditions. The program has required El Salvador to reduce direct government involvement in the Chivo wallet, which was introduced as part of the country’s Bitcoin rollout.
In September, the Fund confirmed that majority ownership and operational control of Chivo had moved to a private operator. The government retained a minority stake and custodial responsibilities for customer assets at that stage.
The Executive Board now wants the remaining state exposure removed. Dan Katz, the IMF’s First Deputy Managing Director and chair of the board discussion, said the residual public-sector involvement “should be fully unwound.”
El Salvador had already changed its Bitcoin Law in 2025, ending mandatory Bitcoin acceptance for private businesses and requiring taxes to be paid in U.S. dollars. The changes formed part of the measures underpinning the IMF program. Previouscoverage of El Salvador ending mandatory Bitcoin acceptance detailed the legal changes and the planned reduction of government involvement in Chivo.
Negotiations over Chivo continued into 2026. By September, the transfer of majority ownership and operational control had been completed, though the IMF’s latest statement shows the government had not fully eliminated its remaining exposure.
IMF lifts El Salvador growth forecast to 4.5% The payout was approved as the IMF reported stronger economic activity than it had expected. The Fund projects El Salvador’s real GDP to grow 4.5% in 2026 after an estimated 3.9% expansion in 2025. Growth is forecast at 4% in 2027.
IMF staff attributed the stronger activity to investment and private consumption, alongside remittances, tourism and capital inflows. It cited improved security and investor confidence among the factors supporting activity.
Reserve and liquidity targets were comfortably met, according to the board review. Gross international reserves are projected at $5.35 billion in 2026 and $6.17 billion in 2027. The primary fiscal balance is forecast at a surplus of 2.9% of GDP this year and 3.7% next year.
The Fund still wants El Salvador to continue its fiscal reforms. Pension and civil-service measures had faced delays, while the IMF called for tighter expenditure controls, improved revenue administration and stronger public financial management.
What happens next for El Salvador’s Bitcoin policy? Bitcoin holdings remain subject to increased disclosure requirements under the IMF program. Authorities are expected to improve reporting for crypto assets controlled by public bodies and maintain updated information on government-controlled wallets.
The Fund wants public Bitcoin exposure kept from expanding beyond verified donations. Its September agreement said authorities had supplied documentation for accumulated coins and committed to no new accumulation outside those documented transfers.
El Salvador’s public-facing Bitcoin strategy had previously created confusion because government-linked channels continued to display growing holdings while IMF documents said no public resources were being used. Earlier coverage of the gap between daily Bitcoin claims and IMF records examined the disagreement between wallet activity and official program accounting.
Under the next stage of the program, the IMF wants stronger rules covering digital-asset companies, public crypto holdings and financial-sector oversight. Katz said authorities should improve disclosure of state crypto assets and strengthen regulatory, supervisory and governance rules for crypto service providers.
The IMF specifically called for amendments to El Salvador’s Digital Asset Issuance Law as part of that regulatory work, while the government is expected to finish unwinding its remaining public-sector exposure to Chivo.
Bitcoin O.G. Peter Todd has joined the MARA Foundation as lead maintainer of Slipstream, the miner’s private Bitcoin mempool service.
Announced by the foundation on Thursday, the new role will see Todd responsible for developing and running the service.
Slipstream lets users send bitcoin transactions straight to MARA Pool, the company’s mining pool, without going through Bitcoin’s public peer-to-peer network. It was useful after hackers exploited Coldcard hardware wallets in July, stealing over $115 million in user funds.
Because transactions sent through Slipstream stay private until they’re confirmed in a block, the service helps to keep key information hidden before confirmation — protecting exposure of their public keys.
“I most look forward to seeing what’s possible on Bitcoin — using Slipstream as a proving ground for experimental development and protocol innovation,” Todd said.
Todd added: “Working with Slipstream is a natural complement to my work on Libre Relay, and my mempool policy work more broadly. I’ve always believed that Bitcoin is better when we design protocols with economic demand in mind. This is also a good opportunity to build bridges between Bitcoin Core developers and miners.”
MARA’s Slipstream first drew attention in 2024 for publishing large Ordinals inscriptions. More recently it has been used for research projects like Quantum Safe Bitcoin and Binohash, a way to emulate covenants without a soft fork.
Todd is a longtime Bitcoin Core contributor, who co-authored BIP 125 (replace-by-fee), created OpenTimestamps, and in 2024 launched Libre Relay, a Bitcoin Core fork with looser relay rules for non-standard transactions.
He argues that mempool policy should follow what the market wants miners to mine, rather than restrict how people use Bitcoin.
Mathew Di Salvo
Mathew is a reporter who's covered the space since 2019, reporting on everything from Salvadoran president Nayib Bukele's Bitcoin bet to crypto exchange FTX's bankruptcy.
SEC navrhla nová pravidla pro úschovu kryptoměn u poradců a fondů. Umožnila by jim držet klientská kryptoaktiva jen tehdy, když není k dispozici schválený správce.
The U.S. Securities and Exchange Commission has proposed new rules to update how investment advisers and regulated funds hold assets, with a big focus on crypto.
In a statement Thursday, the Wall Street watchdog said it would allow advisers and funds acting through their advisers, to hold client crypto themselves, but only if no permitted custodian is available.
Regulators are pushing ahead with rulemaking for the digital asset space despite lawmakers blocking the Clarity Act last month.
JUST IN: 🇺🇸 SEC Chairman Paul Atkins releases a statement to address the custody of crypto assets. 👀
"Since the advent of Bitcoin in 2008, the crypto asset market has grown from a niche curiosity into a multi-trillion-dollar asset class" 🚀 pic.twitter.com/SbLR2HAeW1
— Bitcoin Magazine (@BitcoinMagazine) October 1, 2026 The long-awaited legislation — a framework for distinguishing between digital assets that are securities, commodities or payment stablecoins — didn’t get the votes needed to advance.
“Since the advent of Bitcoin in 2008, the crypto asset market has grown from a niche curiosity into a multi-trillion-dollar asset class to which investors actively seek exposure. Unfortunately, our rules and regulations have not kept pace,” SEC Chairman Paul S. Atkins said in a statement.
“To that end, today’s proposal would provide a clear regulatory framework for the custody of crypto assets, giving investment advisers and funds a compliant pathway where none existed before — and replacing the grey of uncertainty created by custody rules crafted for a bygone era.”
The regulator said in its proposed rules that records kept on a blockchain could count toward compliance, subject to conditions.
It added that it would allow use of state trust companies as custodians for client and regulated fund crypto assets, subject to conditions.
Lawmakers blocked the Clarity Act in a procedural vote last month. Regulators had said before the vote that regardless of whether the landmark legislation passed, they’d still start regulating the crypto industry.
The SEC before the vote sent a proposal to the White House aiming to “clarify the framework for the custody of crypto assets” for investment advisers and companies.
Pro-crypto Atkins said he would still work to make the U.S. the “crypto capital of the world” regardless of the landmark legislation getting through.
Mathew Di Salvo
Mathew is a reporter who's covered the space since 2019, reporting on everything from Salvadoran president Nayib Bukele's Bitcoin bet to crypto exchange FTX's bankruptcy.
Americké spotové Bitcoin ETF ukončily devítidenní příliv kapitálu ve výši 3,1 miliardy USD a ve středu zaznamenaly čistý odliv 148,7 milionu USD. Nejvíc odtékalo z Fidelity FBTC, zatímco BlackRock IBIT přišel o 9,5 milionu USD.
The U.S. spot Bitcoin exchange-traded funds' nine-day, $3.1 billion net inflow streak came to an end on Wednesday, with a combined $148.7 million in net outflows, according to data compiled by The Block.
BlackRock's usually dominant IBIT product ended its own nine-day, $1.6 billion inflow run, with $9.5 million exiting the fund. Fidelity's FBTC led the day's net outflows with $125.6 million, followed by Bitwise's BITB with $13.6 million. The remaining funds all registered zero flows.
Spot bitcoin ETF flows. Image: The Block. The nine-day streak had marked one of the most positive runs for the bitcoin funds this year, taking cumulative flows back into positive territory for 2026.
"Here's a nice look at the lifetime cumulative flows for the Bitcoin ETFs… getting really close to a new high water mark, which is arguably astonishing given what they've been through over the past 11months," Bloomberg Senior ETF Analyst Eric Balchunas said ahead of the latest daily figures.
However, the funds remain about $5 billion away from their cumulative flow peak on Oct. 10 last year, fellow Bloomberg ETF analyst James Seyffart noted.
Cumulative flows into bitcoin ETFs. Image: Bloomberg. Overall, the U.S. spot Bitcoin ETFs have generated over $57 billion in cumulative net inflows since their debut in January 2024 and $970 million year-to-date, with over $100 billion in assets under management, per The Block's Bitcoin ETF Tracker page.
Last week, the newest Bitcoin ETF from Morgan Stanley, which launched in April this year, topped 10,000 BTC in assets under management for the first time, according to the firm's MSBT fund page.
Spot Bitcoin ETF AUM. Image: The Block. Meanwhile, U.S. spot Ethereum ETFs saw $59.6 million in net outflows on Wednesday, led by $26.6 million exiting Fidelity's FETH fund. That extends their net outflow streak to two days, following a prior seven-day, $850 million inflow streak. Total net inflows for the Ethereum funds, which launched later in July 2024, currently stand at around $14 billion.
Spot Ethereum ETF flows. Image: The Block. Bitcoin whipsaws as soft PCE cools October Fed rate hike bets Bitcoin whipsawed around the $84,000 level on Wednesday, as a softer-than-expected reading of the Federal Reserve's preferred PCE inflation gauge reduced expectations for another interest rate hike in October.
"A 0.2% monthly rise in core PCE prices is welcome news for the Fed," said Brendan Ma, head of investment strategy at the Arbitrum Foundation. "If September CPI points the same way, the pressure for an October hike eases."
Bitcoin closed positive for September, up 6.4%. It is currently trading at around $83,950 on Thursday, per The Block's (BTC) price page.
Uphold spustil Vault Inheritance pro Bitcoin, XRP a HBAR, aby držitelé mohli určit dědice svých digitálních aktiv. Po úmrtí Uphold po kontrole dokumentů schválí převod na účet dědice.
Uphold has rolled out Vault Inheritance, which is described as a legacy-planning option for customers who keep Bitcoin, XRP, and Hedera in the platform’s assisted self-custody wallet.
The company framed the product as a response to a problem unique to crypto: legal title can pass to an heir, but the cryptographic control needed to move coins often does not.
Vault itself launched in late 2023 as a 2-of-3 multisignature wallet inside the Uphold app.
Two keys belong to the user and one belongs to Uphold.
Two signatures are required to move funds, so the firm cannot unilaterally spend customer assets, while users still get help replacing a lost key and can trade without first leaving the app.
Inheritance is now layered on that structure. A holder invites a beneficiary from the Vault dashboard.
The invitee must be at least 18 and hold an Uphold account.
That person receives no view of balances, history, or addresses while the owner is alive, and the designation can be changed at any time.
After a death, the beneficiary starts a claim in the app and submits official records such as a certified death certificate or probate order.
Uphold’s compliance team reviews the paperwork.
Only after that review does the firm co-sign a transfer of Vault holdings into the beneficiary’s own Uphold wallet.
The company says the beneficiary needs no prior crypto experience.
For XRP, the ledger’s reserve rules still apply, so a small amount of XRP must remain in the account.
Nancy Beaton, Uphold’s president of consumer, said digital assets have become part of how many people build wealth, yet few simple tools exist to pass them on securely, “especially for XRP holders.”
The firm cited widely circulated estimates that millions of bitcoin—valued in the hundreds of billions of dollars—sit in wallets that are effectively unreachable because owners died or lost keys.
Those figures mix several kinds of inaccessibility and should be treated as industry estimates rather than a precise inventory.
Even so, they capture the practical gap the product is meant to close.
Vault currently supports BTC, XRP, HBAR, and a short list of XRPL tokens, with more networks planned.
Availability follows Uphold’s existing footprint, including the United Kingdom, the European Economic Area, most US states, and other supported regions.
The design is a compromise.
Users keep day-to-day control and can still move coins independently if Uphold’s systems fail.
They also accept a paid subscription and place trust in the firm to verify claims and co-sign the final transfer.
That is different from leaving seed phrases in a will or relying on a purely self-managed wallet, where a missing phrase can lock an estate out of the funds forever.
It is also different from a conventional brokerage account, where beneficiary designations are usually free and the custodian already holds the assets.
For holders who want self-custody without treating key management as a family project, Vault Inheritance is a narrower, productized path: name one adult beneficiary, keep the coins private in life, and let a documented claim, plus Uphold’s remaining key, complete the handoff after death.
Citigroup zvýšila 12měsíční cílovou cenu pro Bitcoin na 113 000 USD z 82 000 USD a pro ether na 3 028 USD z 2 240 USD. Důvodem jsou obnovené přílivy do ETF a příznivé makroekonomické podmínky.
Citigroup raised its 12-month bitcoin forecast to $113,000 from $82,000 and its ether target to $3,028 from $2,240, citing renewed exchange-traded fund inflows and favorable economic conditions.Citi expects cryptocurrency investment products to attract $5 billion over the next year as advisers and brokerages gradually increase bitcoin allocations.Bitcoin rose more than 10 percent after the Senate rejected the Clarity Act on Sept. 15, while subsequent SEC announcements and Treasury bond buybacks helped ease negative sentiment and revive the broader cryptocurrency market.Financial services giant Citigroup (C) has raised its outlook for bitcoin BTC$83 921,58 and ether ETH$2 705,54 on account of exchange-traded fund (ETF) inflows resuming and supportive macroeconomic conditions, in a note on Wednesdy.
Citi raised its 12-month forecast for bitcoin from $82,000 to $113,000 and for ether from $2,240 to $3,028. The targets represent increases for BTC and ETH of around 35% and 12% respectively based on their current prices.
Citi expects “slower but stickier” inflows into products like ETFs as advisers and brokerages favour gradual increases in bitcoin allocations, forecasting $5 billion of inflow over the next 12 months.
U.S. spot bitcoin ETFs had experienced year-to-date net outflows of $5.8 billion as of July 13. This has been reversed in the months since though, with net inflows for 2026 reaching $800 million as of late September.
Despite the U.S. Senate failing to advance the Clarity Act in the middle of last month, Citi says the U.S. Securities and Exchange Commission (SEC)’s subsequent rule announcements dampened negative sentiment, referring to them as “a temporary but meaningful positive.”
“At this stage of the electoral cycle stage, rulemaking clarity may substitute for a durable Clarity Act,” Citi said. “However, we see risk that a 2028 administration change could roll back agency-promulgated rules, albeit this concern lies outside our forecast horizon.”
The cryptocurrency market showed resilience in the aftermath of the Clarity Act’s rejection by the Senate on Sept. 15, with bitcoin gaining more than 10% by the end of the month.
Citi cited the U.S. Treasury’s move to buy back longer-dated bonds which revived momentum across the crypto market and helped it break out of a months-long slump of trailing other risk assets.
UPDATE (Oct. 1, 12:00 UTC): Removes Reuters attributions and adds additional detail from Citi’s note.
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As stablecoins move into regulated finance, APAC is becoming a key proving ground. This report maps the region’s rules, use cases, and RLUSD’s role.
Stacks vzrostl za 24 hodin o více než 20 % po jmenování Muneeba Aliho CEO Stacks Labs. Síť se zároveň chystá 10. října rozšířit institucionální Bitcoin staking na kapacitu 500 BTC.
Stacks price has jumped more than 20% in 24 hours to around $0.38 after founder Muneeb Ali was named Stacks Labs CEO, while the network prepares to expand its institutional Bitcoin staking program this month.
Summary
Stacks jumped more than 20% after Muneeb Ali announced his return as Stacks Labs CEO. Genesis Bond participants bonded 230 BTC alongside 310,000 STX and earned 0.28 BTC in weekly rewards. Bonding Period 2 opens October 10 with 500 BTC capacity, more than doubling Genesis participation. Anchorage Digital is building custody support for institutions seeking self-custodial Bitcoin staking through Stacks network. STX faces resistance near $0.40–$0.414 after rising more than 20% over twenty-four hours today’s session. Stacks Labs announced on Sept. 30 that Ali will take over the day-to-day leadership role from interim CEO Alex Miller, who will move into an advisory position. The company did not give an Oct. 15 start date, despite that date appearing in some market commentary.
CoinGecko data showed STX trading around $0.3847 at the latest reading, up roughly 20.8% over 24 hours and 27.4% over seven days. Trading volume was above $140 million, while the token’s market capitalization stood near $719 million.
The rally has come as Ali returns to an operating role after spending recent months on institutional business development for Stacks. His appointment follows the launch of the network’s first institutional Bitcoin staking bond in September.
Stacks price rallies as Muneeb Ali takes over Ali said his priorities at Stacks Labs will include bringing more Bitcoin capital onto the network and increasing institutional adoption. He described himself as “more bullish on STX than ever before,” a personal assessment that does not guarantee further price gains.
His roadmap includes work toward higher network capacity, privacy tools and post-quantum security. Stacks’ current roadmap lists a working goal of increasing throughput by 100 times alongside improvements to programmable Bitcoin payments, privacy options and AI-agent infrastructure.
Some news: I’m coming in as the new CEO of Stacks Labs.
– I co-founded Stacks in 2017; we’ve been live for 5+ years and have gone through various chapters of decentralization.
– I’m more bullish on $STX than ever before. After the successful launch of Bitcoin staking, it’s time…
— Muneeb (@muneeb) September 30, 2026 Miller had led Stacks Labs on an interim basis while the organization developed its Bitcoin staking product. His tenure included the July activation of PoX-5, the first of the planned Satoshi upgrades, which created the protocol foundation for the staking system. Stacks confirmed that PoX-5 activated at Bitcoin block 960,230 after audits from Trail of Bits and Clarity Alliance and review from Asymmetric Research.
Ali’s appointment does not establish that the leadership change alone caused STX’s rally. The token is trading alongside several developments involving Bitcoin staking, institutional custody and growing STX requirements within the new bond system.
Bitcoin staking creates another source of STX demand Stacks launched its Genesis Bond on Sept. 10 with institutional participants including 21Shares, HashKey Cloud, UTXO Management and Sypher Capital. The product lets participants lock BTC on Bitcoin L1 alongside an STX position and receive BTC-denominated rewards sourced from Stacks miners.
As of Sept. 24, participants had bonded approximately 230 BTC alongside 310,000 STX and received 0.28 BTC in weekly rewards. Stacks reported that the STX requirement was worth roughly 5% of the Bitcoin being bonded.
The roughly 3% BTC yield advertised for the product is a target rate, not a guaranteed return. Stacks says protocol bonds are paid first from Bitcoin committed by miners through Proof of Transfer, while a reserve fund receives part of the remaining rewards.
Participants using the self-custodial route keep their BTC on Bitcoin L1 in a timelock. The asset is not wrapped or bridged under that arrangement. Sypher Capital used a separate liquid-staking route through StackingDAO during the Genesis Bond.
The structure gives STX a role as staking capacity when additional Bitcoin enters the program. This relationship was previously examined in crypto.news’ analysis of how Bitcoin staking could affect STX demand.
The next Stacks bond doubles Bitcoin capacity The next expansion is scheduled for Oct. 10. Bonding Period 2 will provide capacity for 500 BTC, more than twice the roughly 230 BTC active in the initial Genesis period.
Stacks said approximately 10% of the second round’s capacity will be reserved for pools, while institutions holding at least 50 BTC can apply for the self-custodial route.
The company has begun building more institutional infrastructure around the product. Anchorage Digital announced that it is developing support that will let clients participate while their Bitcoin remains in custody with Anchorage Digital Bank and stays on Bitcoin L1.
Clients are expected to be able to fund a bond from an Anchorage account, receive BTC rewards and recover their principal at maturity. Registration and the paired STX stake will remain the client’s responsibility.
The custody integration does not yet represent new BTC deposited into Stacks staking. Anchorage said it is building the infrastructure, while the Stacks announcement described the service as forthcoming.
HashKey Cloud had already joined the Genesis cohort after agreeing to participate in both Stacks’ Bitcoin staking system and its sBTC signer network, as covered in crypto.news’ report on HashKey Cloud joining the Stacks launch.
Can Stacks price break above $0.40? STX is now testing an area where the latest rally has encountered resistance. On the daily chart, the token recently reached an intraday high around $0.4142 before pulling back toward the $0.38-$0.39 range.
The $0.40-$0.414 area is therefore the first resistance zone to watch. A sustained move above the recent $0.4142 high would extend the current higher-high structure, while failure to reclaim that area could keep STX consolidating below $0.40.
The Aroon Oscillator is at +100 on the chart, its maximum positive reading. The indicator shows that a new high occurred recently within its 14-period lookback window and confirms the strength of the latest upward price trend. It does not show whether STX is overbought.
Stacks (STX) price chart, source: TradingView Volatility has increased at the same time. The 14-period Average True Range stands near $0.0306, equivalent to roughly 8% of the current STX price. ATR measures the size of price swings, not their direction, meaning larger daily moves can occur on either side.
Below current prices, roughly $0.35 is the first important area from the latest breakout. Holding above that level would preserve the recent higher-low structure visible on the daily chart, while a sustained drop beneath it would weaken the move that carried STX toward $0.40.
On the upside, $0.40 remains the immediate psychological level, followed by the recent $0.4142 high. Price has already encountered selling around that area, making a confirmed close above it more useful than an intraday move alone when assessing whether the rally is extending.
Stacks’ next identifiable protocol event is the Oct. 10 opening of Bonding Period 2, when the Bitcoin staking program is scheduled to increase capacity to 500 BTC. Stacks says the rate and capacity during this bootstrap phase are set by the Stacks Endowment.
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
Bitcoin Policy Institute zpochybnil navrhované změny pravidel MSCI, které by mohly vyřadit některé bitcoinové treasury firmy z indexů spravujících asi 21 bilionů USD. Uvedl, že by to mohlo zasáhnout i Strategy a Metaplanet.
PANews reported on October 1 that the Bitcoin Policy Institute released a report titled "Wall Street's Invisible Committee," questioning MSCI's proposed changes to index inclusion rules that could exclude certain Bitcoin treasury companies (Digital Asset Treasury Companies, DATCOs). The institute stated that MSCI-managed indices involve roughly $21 trillion in benchmark assets, and when index rules change, funds tracking the relevant indices may need to adjust their holdings, triggering large-scale capital reallocation.
The Bitcoin Policy Institute said that MSCI had previously proposed in 2025 to exclude digital asset treasury companies (i.e., enterprises with at least 50% of assets in digital assets), but suspended the move after encountering opposition. This year, MSCI reintroduced a broader classification standard targeting "non-operating companies," and simulations showed that the rule could exclude companies such as Strategy and Metaplanet. The institute found an internal file path containing "Projects/DATCOs/Operating vs Non Operating" in the metadata of MSCI's public consultation documents, which it said raised questions about whether the rule was designed to target digital asset companies. However, the institute also acknowledged that metadata alone cannot prove that MSCI predetermined the exclusion outcome.
In addition, the Bitcoin Policy Institute noted that MSCI published an article titled "Creeping Crypto" in 2021 discussing the impact of crypto assets entering the stock market, and examined companies' crypto asset exposure from an ESG perspective. At the same time, the institute pointed out that MSCI's management has publicly supported ESG investment principles in the past.
The Bitcoin Policy Institute believes that the "operating assets" standard MSCI intends to adopt lacks a sufficiently clear classification framework and could affect companies in emerging industries, and called for greater transparency and reproducibility in the index-setting process. The report represents the views of the Bitcoin Policy Institute, and MSCI has not yet responded to the report.
Robinhood přidává americkým zákazníkům krypto perpetual futures s pákou až 10x na Bitcoin a Ether. Spuštění umožnily CFTC no-action letter, Bitstamp a Robinhood Derivatives.
Robinhood is bringing crypto perpetual futures to US customers, with up to 10x leverage on Bitcoin and Ether. Nicola White, Robinhood’s vice president of institutional crypto, explains how the CFTC no-action letter, the Bitstamp exchange, and Robinhood Derivatives made it happen, and why the company wants markets to be always on.
Chapters:
0:00 Robinhood’s Hood Summit: 24/7 Stock Trading and US Crypto Perps
0:40 Why Robinhood Wants Markets That Never Close
1:32 Bitstamp Perps and the CFTC No-Action Letter
2:19 Tokenized Stocks, the Basis Trade, and the Path for US Perps
3:20 Bitstamp’s Volume and the Retail–Institutional Merger
4:54 What Institutions Want to Do With Bitcoin
6:00 Institutional Bitcoin Depth and Large Block Trades
6:49 AI Trading Agents and Robinhood’s Sub-Account Controls
8:29 Lessons From the 2022 Meltdown and US Leverage Limits
10:12 How Bitcoin Changes Finance in 10 Years and What’s Next for Tokenized Stocks
DISCLAIMER: The views and opinions expressed in this show are those of the participants and do not necessarily reflect the official policy or position of BTC Inc., Bitcoin Magazine, or any affiliated entities. This content is provided for informational and educational purposes only and should not be construed as investment, legal, tax, or accounting advice. Nothing contained in this show constitutes a solicitation, recommendation, endorsement, or offer to buy or sell any securities or financial instruments. Viewers should consult their own advisors before making financial or business decisions.
Patrick Green
Patrick Green is an Assistant Producer and Channel Manager on the multimedia team at Bitcoin Magazine, focusing on production, content distribution, and channel strategy across the network.
Nizozemsko plánuje od roku 2028 zavést daň z kapitálových zisků, která by se vztahovala i na zisky z Bitcoinu při prodeji. Není však jasné, zda se digitální aktiva začnou danit už v roce 2028, nebo až od roku 2030.
Dutch people could soon be paying tax on their bitcoin gains — if they sell.
The Dutch government on Tuesday announced that it was planning to introduce a capital gains tax starting from 2028.
If approved, gains on investments would be paid when they are realized, rather than imposing levies on assumed returns or unrealized increases in value, a Tuesday the Dutch cabinet to the House of Representatives read.
“The earning capacity of the Dutch economy calls for a way of taxing wealth that facilitates investment,” the letter read.
It added that most financial instruments would be taxed from 2028 while remaining assets would transition two years later. The letter wasn’t clear whether digital assets would be taxed in 2028 or from 2030.
Bitcoin and digital assets in the Netherlands are currently taxed based on an assumed annual yield rather than your actual or realized profits. Tax authority currently assumes assets earned a notional 4% return, regardless of what you actually earned.
Regulations in Europe regarding crypto and taxes are mixed but on the whole stricter than the U.S.
Since January, the European Union’s DAC8 directive has required crypto exchanges to collect detailed data on their users and transactions and report it to national tax authorities, much like banks already do for ordinary accounts.
But not all countries within the trading bloc are strict: Germany still exempts crypto held for more than a year, and Portugal does the same after 365 days.
Mathew Di Salvo
Mathew is a reporter who's covered the space since 2019, reporting on everything from Salvadoran president Nayib Bukele's Bitcoin bet to crypto exchange FTX's bankruptcy.
Tether spolu se Shiga spouští v Africe a GCC self-custody finanční produkty postavené na WDK. Cílí na jednotlivce, firmy i instituce a umožní držet a převádět USD₮, Bitcoin a XAU₮.
Tether, the largest company in the digital asset industry, said on Sunday, September 28, that it is working with Shiga to bring self-custodial financial products to individuals, businesses and institutions across Africa and the Gulf Cooperation Council, according to a company announcement. The initiative, built on Tether’s open-source Wallet Development Kit (WDK), builds on the stablecoin issuer’s 2025 strategic investment in Shiga and marks the next phase of its push to expand blockchain-based financial infrastructure and USD₮ access across the two regions.
ENTA and Pulse target consumers and institutions Tether and Shiga will roll the effort out through two products. ENTA will let individuals, high-net-worth users and businesses fund self-custodial wallets with local currency, U.S. dollars or Bitcoin, then hold and transfer USD₮, Bitcoin and XAU₮. Pulse will enable banks, fintech companies and other institutions to build digital asset products around specific payment corridors, treasury operations and settlement flows, tailored to the way each institution moves money rather than a generic wallet interface.
WDK powers both offerings WDK provides the open-source wallet infrastructure underlying both products, letting Shiga support the blockchain networks available through WDK from a single integration, with built-in USDT0 technology, DeFi primitives and cross-chain interoperability. Tether framed the move as a response to currency volatility and costly remittances, noting the average cost of sending money to Sub-Saharan Africa reached 8.46% in 2025. “WDK gives companies the tools to build financial products that keep users in control of their assets,” said Paolo Ardoino, CEO of Tether. “Together with Shiga, we are bringing that infrastructure to markets where people and businesses face real challenges protecting savings and moving money across borders.”
Nigeria licence nears final approval Shiga is completing the final stage of approval for a Digital Asset Intermediary licence in Nigeria, which, subject to final approval, would authorize regulated digital asset dealing, broking and custody services to individuals and institutions in the country. Shiga said it will also run ENTA on the same underlying platform it offers to external clients, giving prospective partners a live example of the infrastructure in operation. The expansion extends Tether’s wallet tooling for developers and adds to the institutional stablecoin rails that corporate clients are already adopting.
AUTHOR
Blockchain analyst specializing in the regulatory impact of government policies on the crypto industry. Known for his thorough research and clear, engaging writing, Emmanuel provides insightful analysis on the latest trends, market shifts, and emerging crypto innovations. His work aims to educate and inform both novice and experienced readers, offering expert perspectives on the fast-evolving world of digital assets. With a passion for staying ahead of the curve, Ogwu is a trusted voice in the cryptocurrency and blockchain space.
Lion funded its latest HYPE purchase by exiting SOL and reducing Bitcoin. SUI had already been fully converted into HYPE in September 2025. Future purchases should be judged by both HYPE accumulation and what Lion sells to finance it. Lion Group is financing its latest Hyperliquid purchase from inside its own crypto portfolio.
The Nasdaq-listed company sold all of its remaining Solana and part of its Bitcoin holdings on Sept. 29, directing the proceeds into HYPE. The transaction added approximately 38,102 HYPE and brought Lion’s total position to about 232,900 tokens, valued at $20.1 million when the company announced the reallocation.
The source of that capital is more revealing than the purchase itself.
Lion is not simply putting additional cash into crypto. It is deciding which digital assets deserve space on its balance sheet, and Hyperliquid is increasingly winning that competition.
Lion’s Treasury Has Been Narrowing for More Than a Year The shift did not begin this week.
Lion launched its digital-asset treasury in June 2025 around three assets: HYPE, SOL and SUI. HYPE was designated the primary reserve asset, but the strategy was initially presented as a broader bet on next-generation Layer-1 networks.
By September 2025, that structure had already started disappearing.
Lion first announced plans to rotate its SOL and SUI holdings toward Hyperliquid, citing the availability of institutional HYPE custody through BitGo. Three days later, it completed the conversion of its entire SUI position, leaving a disclosed treasury of 194,726 HYPE and 6,707 SOL.
The latest transaction effectively completes the SOL side of that transition while bringing Bitcoin into the reallocation for the first time.
Lion Group Treasury
From crypto basket to HYPE concentration
JUNE 2025
Lion launches a multi-asset treasury strategy.
HYPE
SOL
SUI
SEPTEMBER 2025
Strategy shifts toward converting
SOL
and
SUI
into HYPE.
SEPTEMBER 29, 2026
Lion sells all remaining SOL and part of its
BTC position to buy more HYPE.
+38,102 HYPE
Resulting HYPE position
232,900
HYPE tokens
Approximately $20.1 million at the time of the announcement
Lion Group is reducing other crypto positions while increasing its exposure to Hyperliquid.
The progression changes how Lion’s future crypto purchases should be interpreted. Buying HYPE with new capital expands its digital-asset exposure. Buying HYPE by selling another cryptocurrency primarily changes the composition of exposure already on the balance sheet.
That is a different treasury decision.
Hyperliquid Has Given Lion More Reasons to Stay Lion’s increasing commitment comes as Hyperliquid expands beyond the perpetual futures market that established the protocol.
In its latest announcement, the company pointed to the introduction of manual borrowing, where supported assets can be supplied as collateral to borrow stablecoins, as well as record open interest and broader infrastructure around the network.
HYPE’s market access has expanded too, including a Binance spot listing and staking access through Gemini for eligible U.S. customers.
Those are Lion’s stated reasons for remaining bullish, rather than independent evidence that concentrating the treasury will improve shareholder returns. The distinction is important because the strategy ties a growing portion of Lion’s digital-asset exposure to the performance and development of a single ecosystem.
There is also a useful historical benchmark in Lion’s SEC disclosures.
On Sept. 21, the company reported approximately 195,000 HYPE worth $18.2 million and said it had not sold any tokens from the position. The latest reallocation raises the token balance substantially without reversing that holding strategy.
What Lion Sells Next May Matter More Than What It Buys The next treasury announcement now has two sides worth watching.
One is straightforward: how much additional HYPE Lion acquires.
The other is the funding source.
If future purchases come from new financing or available cash, Lion would be expanding the capital committed to its crypto strategy. If they are financed by further Bitcoin sales or disposals of other digital assets, the company would instead be continuing the internal rotation that has gradually reshaped the portfolio.
That distinction also puts Lion’s original $600 million treasury announcement into perspective. The figure referred to a financing facility secured in June 2025, not $600 million of cryptocurrency immediately deployed. The first closing under that facility was $11 million, while Lion’s initial HYPE acquisition was $2 million at an average price of roughly $37.30 per token.
The treasury has therefore developed incrementally rather than through a single $600 million deployment.
Its direction, however, has become progressively clearer.
SUI was removed first. SOL has now followed. Bitcoin has begun funding additional HYPE purchases.
For Lion’s next treasury update, the asset leaving the balance sheet may be just as informative as the HYPE entering it.
Alex is a financial markets journalist and co-founder of Millennial Media Group, and he's spent close to ten years trying to answer one stubborn question: what's really driving this? It started in 2016, when Bitcoin refused to make sense to him - and rather than shrug, he stayed with it until it did. That patience became his method. He's less interested in what an asset is doing today than in the plumbing behind it: how liquidity flows, where risk hides, what a chart is quietly telling you that the headline isn't. That lens eventually stretched well past crypto into traditional markets, because the same forces - fear, leverage, incentives, timing - show up everywhere once you know how to look. Most coverage, in his view, insults the reader by stopping at the surface. Price up, price down, moving on. He'd rather leave someone genuinely understanding a move than merely informed that it happened. His path into markets ran through a Tourism degree at New Bulgarian University - proof, maybe, that curiosity beats credentials. With more than 200 deep analyses and over 10,000 articles behind him, he still walks away from most trading days having learned something he didn't know that morning.
Spotové ETF na Ethereum v USA 29. září zaznamenaly čistý odliv 2,81 milionu USD a ukončily 7denní sérii přílivů. Bitcoinové ETF naopak přidaly 66,19 milionu USD a rostou už 9 seancí v řadě.
US spot Ethereum (ETH) exchange-traded funds (ETFs) recorded $2.81 million in net outflows on September 29. The move ended a 7-day inflow streak that had brought roughly $850.8 million into the products.
Bitcoin (BTC) ETFs moved in the opposite direction on the same day. They took in $66.19 million, extending their own inflow run to 9 straight sessions.
How the Ethereum ETF Streak Lost Steam Before It BrokeThe streak began on September 18, according to SoSoValue data. It followed 3 sessions of outflows between September 15 and 17, which pulled about $404.8 million from the funds.
BeInCrypto reported that those outflows coincided with the Clarity Act stalling in the Senate. The largest day of the run came on September 21, when the funds drew $269.98 million.
Daily totals then eased across most of the following sessions and slipped to $17.1 million by September 28.
Ethereum ETF inflow streak ends with outflow. Source SoSoValueWeekly figures show how strong the run was at its height. The funds added $689.88 million in the week ending September 25, their biggest week since late August.
On September 29, BlackRock’s ETHA recorded the largest outflow at $8.94 million. Meanwhile, Grayscale’s Ethereum Mini Trust took in $12.83 million, which kept the net loss small.
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Ethereum Price Slipped While the Money Kept Coming InEthereum’s price fell during the same week the funds were attracting capital. ETH traded at $2,673.54 at press time, down 3.32% over 7 days, according to BeInCrypto Markets data. The token gained 0.41% over the past 24 hours.
Ethereum (ETH) Price Performance. BeInCrypto MarketsBitcoin showed the same split between price and flows. BTC dropped 3.78% over the week to $83,359, although its ETFs gathered roughly $3.08 billion during their 9-session streak.
Ethereum ETFs still hold $17.79 billion in net assets, equal to 5.45% of Ethereum’s market capitalization. They have also attracted $979.69 million in net inflows over the past 30 days.
The funds have opened this week with $14.29 million in net inflows, a fraction of the previous week’s pace. Flow data from the coming sessions will show whether ETHA’s exit stays isolated or spreads to other issuers.
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Volmex Finance spustila na Hyperliquid perpetual futures na Bitcoin Volmex Implied Volatility Index (BVIV), první onchain trh pro obchodování očekávané volatility Bitcoinu jako samostatného aktiva.
Volmex Finance has listed perpetual futures contracts based on its Bitcoin Volmex Implied Volatility Index (BVIV) on Hyperliquid, creating what amounts to the first onchain market dedicated to trading Bitcoin’s expected volatility as a standalone asset.
Think of it as crypto’s answer to the VIX, the Wall Street “fear gauge” that tracks expected S&P 500 volatility. Except instead of being locked behind institutional brokerage accounts, this one lives on a decentralized exchange and comes with up to 5x leverage.
How the BVIV contract works The BVIV index captures Bitcoin’s 30-day expected implied volatility by pulling real-time options data from Deribit and OKX, two of the largest crypto options venues. Recent index readings have sat in the mid-to-high 30s, which gives a rough sense of the market’s current anxiety level about near-term BTC price swings.
The perpetual futures contract uses a linear payout model. For every 1.00 point the index moves, a trader gains or loses $1 USDC. So if you’re long BVIV at 35 and it spikes to 50 during a market panic, that’s a $15-per-contract gain, no options Greeks required.
Contracts are USDC-collateralized with isolated margin, meaning a blown position on your volatility trade won’t cannibalize your other holdings on the platform. Funding is calculated hourly rather than the more typical eight-hour intervals seen on most perp markets, reflecting the unique dynamics of a volatility index that can gap sharply.
The initial open-interest cap is set at $2 million, a deliberate guardrail as the market finds its footing. Trading is accessible through the Markets by Kinetiq frontend under the ticker mkts:BVIV.
Why trade volatility instead of price Volmex CEO Cole Kennelly framed the launch in those terms, calling it a significant opportunity for crypto traders and investors to access hedging and speculation strategies without the barriers typically associated with options trading.
Hyperliquid’s expanding menu The choice of Hyperliquid as the listing venue is notable. The platform has established itself as the dominant decentralized perpetual futures exchange, processing billions in daily trading volume with a valuation that has exceeded $90 billion. Adding a volatility-specific product diversifies the exchange beyond straightforward crypto price speculation.
Still, the product comes with documented risks. Volatility indices can exhibit gap behavior, where the index jumps sharply between calculation intervals rather than moving smoothly. For leveraged traders, those gaps can mean the difference between a manageable drawdown and a liquidation. The isolated margin structure helps contain that risk, but it doesn’t eliminate it.
Disclosure: This article was edited by Vivian Nguyen. For more information on how we create and review content, see our Editorial Policy.
Strategy chce, aby akcionáři schválili změnu výplaty dividend na preferenčních akciích z půlměsíčních a čtvrtletních na denní. Cílí tím na vyšší likviditu a obnovení poptávky po svém financování.
David Pan _ writes about the latest tinkering by Michael Saylor to revive Bitcoin accumulator Strategy Inc.’s crypto-funding engine. _
Perpetual payments
Michael Saylor is back in sales-pitch mode.
Bitcoin’s best-known evangelist is asking Strategy Inc. shareholders to approve shifting the dividend payments on its billions of dollars in outstanding preferred shares to daily from semi-monthly and quarterly distributions.
“This is the latest exciting development in the digital-credit space,” Saylor said in a video presentation Friday, where he outlined the benefits to liquidity and market efficiency for the securities paying an annualized yield as high as 12%.
The proposal is the latest in a string of moves by Saylor — who pioneered the strategy of companies buying and holding the cryptocurrency as an appreciation bet six years ago — to shore up demand after the firm’s outlook faded among investors. After initially selling common shares to fund purchases, Saylor shifted to non-dilutive preferred stock after the initial premium paid on the common evaporated.
Some market observers say the dividend change still doesn’t address the underlying question of whether “digital credit” can become a durable source of capital rather than a product that works only when enthusiasm for Strategy and Bitcoin is running high.
“The change would mainly reduce dividend-related volatility rather than the underlying credit and Bitcoin-linked risk,” said Lacie Zhang, research lead at Bitget Wallet. “Deeper liquidity is also not guaranteed simply by increasing the frequency of payments.”
Investors had initially flocked to the STRC, or Stretch, perpetual preferred securities marketed as being comparable to money market securities, but with junk-bond level returns. That was until Bitcoin’s price crumbled. Without a continual funding source, the financial flywheel created by Saylor risks grinding to a halt.
Strategy then sold a handful of Bitcoin in June, breaking with Saylor’s long-held recommendation to never part with the digital currency. That helped to send crypto prices even lower. To halt the slide, Strategy set up cash reserves and began buying back STRC to boost its price to par, a level that would make new issuance accretive to shareholders.
Despite repurchasing more than $1 billion of the variable-rate securities, the firm hasn’t been able to issue new STRC since May. Strategy — which has more than $14 billion in preferred shares outstanding — declined to comment beyond the presentation.
“The goal is pretty simple,” said Adam McCarthy, head of research at trading firm LO:TECH. “It’s another attempt of securing demand.”
Preferred stock sits between debt and common equity. Holders get priority over common shareholders for dividends, but typically give up much of the upside that comes with ordinary shares. And because Strategy’s preferreds are perpetual, the company doesn’t face a set date when it must repay the capital. That gives Saylor another pool of investors to tap for financing without relying solely on buyers of Strategy’s more volatile common stock.
Saylor isn’t alone in seeking to resort to daily payments to entice buyers. Strive Inc. has issued more than $1 billion of the securities since June. The much smaller Bitcoin treasury firm is paying an annualized yield of 13%, while using the proceeds to buy the non-income asset.
The voting process for Strategy shareholders is set to be completed on Oct. 28. With Saylor being the dominant shareholder, the measure is likely to pass.
And if daily dividends aren’t enticing enough to restart demand, the advocate for never selling your Bitcoin can always resume selling more of its $71 billion of the cryptocurrency to meet the never-ending payments.
Charting it out
Bitget recorded roughly $463 million in net outflows in the 24 hours into Tuesday, as customers moved assets off the platform following last week’s $388 million theft.
Counting it out
US spot Bitcoin ETFs attracted about $2.4 billion in the week ended Sept. 25, their biggest weekly haul since the period that ended on Oct. 10, when inflows topped $2.7 billion. That came just ahead of a selloff that extended through much of 2026.
Hearing them out
What we’re reading (and writing)
Bukele Turns to Stablecoins as Bitcoin Payments Fail to Catch On
Bitcoin Pioneer Adam Back’s Empire Beset by Hack, Lawsuits
Senate Investigation Finds Rampant Use of Tether by Iran (WSJ)
Blockchain.com Is Said to Target $500 Million IPO This Year
CFTC Pulls Back on Markets Enforcement Under Trump (NYT)
Crypto Hack Spurs $463 Million in Customer Outflows at Bitget
Pokemon Fan Charged With $55 Million Crypto Hack Goes on Trial
What we’re watching on Bloomberg TV
SEC Commissioner Hester Peirce joins Scarlet Fu and Tim Stenovec on “Bloomberg Crypto.” This week marks the last one for Peirce at the regulator. They discuss how the crypto industry has changed during her almost nine years in the position.
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CFO Briefing for Nina Trentmann’s weekly newsletter on what finance leaders need to know
Going Private for coverage of private markets and the forces moving capital away from the public eye
Money Stuff for Bloomberg Opinion’s Matt Levine’s newsletter on all things Wall Street and finance
Riot Platforms plně splatila bitcoinový úvěr od Coinbase a uzavřela úvěrovou facility v hodnotě 200 milionů USD, čímž uvolnila zástavy na majetku společnosti. Firma tak ukončila i závazek Coinbase poskytovat další půjčky.
Riot Platforms has fully repaid its Coinbase Credit borrowing and closed the $200 million Bitcoin-backed facility, releasing the lender’s claims on pledged assets after settling principal and accrued interest on Sep. 21.
Summary
Riot terminated the Coinbase facility after paying all outstanding principal and interest through Sep. 21. Coinbase’s security interests were released, alongside the termination of its commitment to provide further loans. Riot held 5,821 BTC as collateral as of June 30, roughly 51% of its Bitcoin reserves. The facility carried a fixed 6.15% annual interest rate following an April amendment. Riot Platforms’ Form 8-K, filed with the U.S. Securities and Exchange Commission on Sep. 25, disclosed that the company voluntarily prepaid its outstanding borrowing under the agreement signed on April 21, 2026.
After receiving Riot’s repayment notice, Coinbase Credit was paid the remaining principal and all accrued, unpaid interest through Sep. 21, according to the filing. The payment discharged Riot’s obligations under the agreement and ended the lender’s commitment to make further loans.
Riot Platforms repayment releases pledged assets Under the terminated agreement, Coinbase Credit served as lender, collateral agent and administrative agent, the SEC filing stated. The facility allowed multiple drawdowns up to an aggregate principal amount of $200 million, backed by financial assets held with Coinbase Custody Trust Company.
Eligible pledged assets included Bitcoin, USDC, and cash, according to the disclosure. Alongside the repayment, Coinbase’s security interests under the collateral documents were released.
No early-termination fee or penalty applied, the filing said, because Riot repaid after the four-month anniversary of the agreement’s original maturity date. The day-count fraction used to calculate the termination charge was therefore zero.
In its June-quarter financial disclosure, Riot reported holding 11,380 BTC, including 5,821 BTC pledged as collateral. At the June 30 valuation of $58,527 per coin, the pledged holdings were worth approximately $340.7 million and represented about 51% of the company’s Bitcoin inventory.
Across its entire Bitcoin balance, Riot reported a value of approximately $666 million at quarter-end. Its August earnings release also listed $548.9 million in cash, including $77.5 million classified as restricted cash.
April amendment set a 6.15% fixed borrowing rate According to Riot’s first-quarter Form 10-Q, the Coinbase borrowing arrangement began as a $100 million facility on April 22, 2025. An amendment on May 20, 2025 doubled the lender’s commitment to $200 million.
By the first-quarter disclosure, Riot had drawn the entire facility, the company reported. It identified strategic initiatives and general corporate purposes among the intended uses, including capital spending associated with developing data centers.
Before the April 2026 amendment, the agreement charged interest based on the federal funds rate, subject to a minimum base rate, plus 4.5 percentage points. Riot reported an applicable interest rate of 8.3% as of March 31.
Under the second amended agreement, the company extended maturity to April 20, 2027 and replaced the previous pricing with a fixed annual rate of 6.15%, according to the quarterly filing.
Using that disclosed rate, a $200 million balance outstanding for a full year would incur approximately $12.3 million in interest. The figure is an annualized calculation from the loan terms, rather than the amount Riot paid when it settled the facility.
For U.S. shareholders, Riot’s disclosures concern a Nasdaq-listed company trading under RIOT. Its August earnings announcement identified Bitcoin mining and data center operations in Texas and Kentucky, alongside engineering and fabrication facilities in Denver and Houston.
Riot’s Bitcoin sales accompanied data center revenue In a May 1 report, crypto.news covered Riot’s first-quarter financial results, which showed revenue of $167.2 million, compared with $161.4 million a year earlier.
The company disclosed selling 3,778 BTC during the quarter for $289.5 million, while producing 1,473 BTC. According to the report, mining revenue fell to $111.9 million from $142.9 million, a decline Riot attributed to lower average Bitcoin prices and increased global network computing power.
Alongside mining, Riot reported its first quarter of data center revenue at $33.2 million, including $0.9 million from operating leases and $32.2 million from tenant fit-out services. The May report also noted that AMD exercised an option for another 25 megawatts, bringing its contracted capacity to 50 megawatts.
On July 3, a separate report documented Riot’s 500 BTC custody transfer to NYDIG, valued at approximately $30.72 million at the time. The report attributed the transaction to on-chain information shared by Onchain Lens.
For the second quarter, Riot’s earnings release reported total revenue of $174.2 million, up 14% from a year earlier. The company recorded $23.2 million in data center revenue and produced 1,587 BTC, compared with 1,426 BTC in the same quarter of 2025.
Other miners disclosed Coinbase borrowing and refinancing An Aug. 9 report detailed how MARA Holdings secured new Bitcoin-backed loans after pledging 18,750 BTC worth approximately $1.2 billion as initial collateral.
According to MARA’s SEC disclosure cited in that report, the arrangements provided $600 million in fresh borrowing through Coinbase Credit and Two Prime Lending. Coinbase’s $450 million facility included $300 million of new funding and the refinancing of an existing $150 million credit line.
Two Prime separately provided a fully drawn $300 million term loan at a fixed annual rate of 7.65%, the report stated. MARA said the proceeds could support general corporate purposes, including part of the cash consideration for its planned Long Ridge Energy & Power acquisition.
Earlier, a May 4 report covered Hut 8’s replacement of Coinbase financing with a $200 million FalconX credit agreement. Hut 8 said the new facility carried a fixed 7% annual rate, compared with 9% under the previous Coinbase arrangement.
Under that refinancing, Hut 8 said approximately 3,300 BTC would move out of pledged collateral once the transaction was completed. The company valued those coins at approximately $260 million using Bitcoin’s May 1 market price.
Bitwise spustil první americké spotové ETF na NEAR, které se začalo obchodovat na NYSE Arca 29. září pod tickerem NRR. NEAR přitom za 24 hodin klesl o 4,62 % na zhruba 4,97 USD.
NEAR Protocol Price traded near $4.97 on September 29, down 4.62% over 24 hours.
NEAR price gained more than 15% this week. The token held above $4.90 as Bitwise introduced the first U.S. spot exchange-traded product tracking NEAR.
The broader crypto market rose 0.69% to $2.9 trillion during the same period. Bitcoin hovered around $84,000, Ether traded near $2,700, XRP stood above $1.50, and Solana price held above $120. That firmer backdrop offered some support, although NEAR still faced selling pressure around the $5.00 level.
Bitwise Launches First Spot ETF Bitwise said its NEAR ETF began trading on NYSE Arca on September 29 under the ticker NRR. The product holds NEAR directly, giving shareholders exposure through a conventional brokerage account. Shares trade during regular exchange hours. Its annual management fee is 0.75%, according to the fund manager.
Bitwise also intends to stake the fund’s tokens through its own institutional team. The company cited a current network staking rate of approximately 5%, though actual rewards can change. Those rewards accrue to the fund’s value instead of providing shareholders with a fixed cash payment.
The Bitwise NEAR ETF ($NRR), the first spot $NEAR ETP in the US, is now trading on NYSE Arca.
It gives institutions straightforward access to the protocol powering universal markets, the privacy renaissance, and user-owned AI. https://t.co/qqraopVABm pic.twitter.com/IwiqcZqohh
— NEAR Protocol (@NEARProtocol) September 29, 2026
The launch extends Bitwise’s single-asset lineup beyond Bitcoin and Ether to several other crypto assets. Its existing products include funds tied to Solana, XRP, and Hyperliquid. Still, the listing alone does not establish how much fresh capital NRR will attract.
Bitwise has emphasized NEAR’s role in transactions involving artificial intelligence agents. The company said NEAR Intents has processed more than $32 billion in cumulative volume. That compares with less than $1 billion roughly one year earlier, according to Bitwise.
NEAR Protocol Price Prediction: Will $5.00 Open a Move Toward $6.00? A four-hour reading placed NEAR around $4.93, with its active candle up 0.35%. The smaller rebound followed a sharp September advance from roughly $2.00 to above $5.00. Traders now face a test of whether that earlier climb can hold after the latest pullback.
A sustained four-hour close above $5.00 would improve the case for another challenge of $5.30. Clearing that recent high could then bring the marked $6.00 target into view as per the future NEAR outlook.
Source: TradingView The four-hour relative strength index stood at 51.57, close to neutral territory. Meanwhile, the MACD line remained below its signal line, and the histogram stayed negative.
If NEAR Protocol Price cannot reclaim $5.00, attention shifts toward the recent $4.70 area. A break beneath that level could expose support around $4.50.
Bitcoin se drží kolem 84 000 USD, zatímco spotové Bitcoin ETF zaznamenaly osm po sobě jdoucích seancí přílivů v celkové výši zhruba 3 miliardy USD. Tlak na růst brzdí vysoké výnosy amerických dluhopisů.
In brief BTC traded around $84,000 Tuesday, up 0.9% on the day, while spot Bitcoin ETFs notched eight consecutive sessions of inflows totaling around $3 billion. The 10-year Treasury yield is at its highest since 2007, while Brent crude has eased from Monday's peak. Futures markets put the odds of an October Fed hike at 70.3%, up from 55.4% a week ago. Bitcoin was trading at around $84,000 on Tuesday, up 0.9% over 24 hours but down 2% across the week, according to CoinGecko data, holding a range it has occupied for a fortnight while the assets around it move against it.
The pressure is coming from outside crypto. Treasury yields are sitting near multi-year highs, driven largely by oil. The 10-year peaked at 5.274% on Monday, its highest since June 2007, and the 30-year at 5.583%, a level last seen in 2002. Both eased slightly on Tuesday, the Wall Street Journal reported, as crude turned lower. Brent moved back above $100 a barrel on Monday after President Donald Trump rejected Iran's seven-day plan to end the war and reopen the Strait of Hormuz, lifting the dollar with it. Brent then fell below $104, down about 1.7% on the day after topping $108 on Monday, as US and Iranian officials continued indirect contacts through Qatar and Saudi Arabia restored roughly half the flows through its East-West pipeline, an alternative route to the Strait of Hormuz. Gold has fallen to a seven-week low.
"The rise in crude prices is capping non-yielding assets, so Bitcoin's rally has taken a bit of a pause," said Kyle Rodda, senior financial market analyst at Capital.com, who expects Bitcoin to struggle for upside momentum while the energy risk persists. He reads the charts more favorably, describing price action as consolidation within a short-term uptrend.
Thahbib Rahman, research analyst at Block Scholes, made a similar point about how little Bitcoin has given up, in a note shared with Decrypt. It has held between $82,000 and $84,000 for a week and a half despite the macro backdrop and the Senate's failure to advance the Clarity Act, he said, with institutional demand behind that resilience.
Spot Bitcoin ETFs have now taken in money for eight straight sessions, per Farside Investors data, a run Rahman put at roughly $3 billion. Monday's contribution was slight: a net $31.07 million, according to SoSoValue, with $54.84 million into BlackRock's IBIT and $10.32 million into Grayscale's mini trust offsetting outflows of $23.19 million from GBTC and $10.90 million from Fidelity's FBTC. The funds now hold $107.82 billion, equal to 6.42% of Bitcoin's market capitalization.
Myriad: When will Bitcoin reach a new all-time high? Click to make your prediction.Options traders are hedging their optimism. The 25-delta put-call skew for seven to 30-day tenors is close to neutral, Rahman said, which he reads as traders moving between buying downside protection and positioning for a rally.
Bitcoin treasury firm Strategy has kept buying. The company disclosed purchasing 1,665 BTC for about $142.7 million between September 21 and 27, taking its holdings to 847,666 BTC and past the 847,363 it held in June, a record.
This week's U.S. data will settle the Fed argument either way. August core PCE lands on Wednesday, alongside the third estimate of second-quarter GDP. The measure ran at 3.3% year-on-year in July, and the Fed lifted its own 2026 projection for it to 3.4% at this month's meeting. Friday's September jobs report is forecast to show payroll growth of about 90,000, down from August's 162,000, with unemployment holding at 4.1%, though Barclays chief U.S. economist Marc Giannoni puts September closer to 50,000. The Fed meets on October 27 and 28, three weeks after its first rate rise since 2023. Futures markets put the chance of another quarter-point increase at 70.3%, up from 55.4% a week ago and 17.7% a month ago, according to CME's FedWatch tool. Traders on Myriad, a prediction market owned by Decrypt’s parent company Dastan, price the same outcome at 69%, also up over the past week.
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Chainlink price hovered at $15 on Tuesday after rising 10.50% over 24 hours, outpacing the broader market’s 1.19% gain.
The BTC, ETH, SOL, and DOGE prices are seeing slight consolidation, eyeing recovery ahead.
The move followed Monday’s CCIP 2.0 launch and a separate announcement involving Swift’s blockchain ledger. LINK investors also watched fresh exchange-traded fund inflows and DTCC’s plans for continuous collateral management. The rally has brought the $20 level into focus for traders.
Chainlink’s institutional momentum at Sibos 2026 continues 🔥
Chainlink is powering @The_DTCC’s Collateral AppChain, bringing 24/7 collateral management to the backbone of global post-trade infrastructure
The Chainlink stack:
⁰• CRE for orchestration across systems⁰• CCIP… https://t.co/LCBe1BiEPu pic.twitter.com/1f8ox5vMXk
— Zach Rynes | CLG (@ChainLinkGod) September 28, 2026
CCIP 2.0 Launch Brings New Institutional Controls Chainlink launched CCIP 2.0 at Sibos, giving institutions control over cross-chain transactions. The upgrade allows organizations to add independent transaction verifiers, set transfer speeds, and apply compliance checks. Chainlink says those options can support tokenized assets across public and private networks.
Chainlink said it is developing a connection to SWIFT’s shared blockchain ledger. Its Runtime Environment would coordinate bank workflows while institutions retain control of transaction signing keys.
Swift’s ledger is designed to coordinate cross-border payments involving tokenized deposits around the clock. The announcement did not provide a date for banks to begin using the connection
LINK-focused ETFs attracted $2.41 million on Monday, following $6.27 million last week. Those flows followed three consecutive positive weeks, indicating interest in funds tracking the token.
LNK ETF
Will Chainlink Price Break Resistance and Climb to $20? The LINK Price surged to $15.19 on Tuesday, after climbing from around $14. Trading volume rose during the advance, although the latest four-hour candle slipped slightly.
Chainlink price briefly approached $15.70 before easing. A sustained move above that recent high could bring the chart’s $18 resistance into focus.
The next marked target is $20, roughly 32% above the chart’s measured starting point. Reaching it would require LINK to clear both the recent high and $18.
Source: TradingView The four-hour RSI stood at 65.54, indicating firm momentum below the 70 overbought threshold. However, Chaikin Money Flow registered −0.06, suggesting the price advance needs stronger buying pressure.
If Chainlink price loses $15, the breakout could weaken and expose the chart’s $14 support. Holding $15 would keep the $18 and $20 targets in view as per the LINK long-range prediction.
LINK Trading Volume Jumps 213% as Open Interest Climbs The Chainlink derivatives market recorded $2.04 billion in trading volume, a 213.13% increase, according to the data. The open interest increased by 13% to stand at $863.02 million, which indicated an increase in open positions.
Source: Coinglass data The greater volume gain is an indication that more trading is executed without a similar rise in open contracts. The numbers show increased action in the LINK area but do not give any firm evidence regarding the direction of the prices in the future.
QNT za 24 hodin vyskočil o 30 % na 241,83 USD po partnerství s The Clearing House v rámci iniciativy On-Chain Money Initiative pro americké banky. HBAR přidal 26 % na 0,1202 USD po zprávě, že jeho platforma IDTrust byla ověřena IBM a zařazena do IBM Cloud Catalog.
Quant Soars on Clearing House Partnership$QNT surged 30% in 24 hours to $241.83 on $1.54 billion in trading volume, extending a weekly gain of 262%. The catalyst was a headline-grabbing announcement on Thursday: The Clearing House selected Quant, a provider of programmable money infrastructure, to power the On-Chain Money Initiative, a new interoperable payments network for US banks.
Quant will supply the interoperability, orchestration and transaction-management layer, linking the network to existing fiat rails like RTP and CHIPS. The initiative is designed to create new opportunities across corporate treasury, liquidity management, cross-border payments and digital asset settlement. For banks without their own tokenized deposit capability, Quant has also been contracted to provide a commercial bank-side solution through its Tokenised Deposits-as-a-Service offering. The Clearing House's networks clear and settle more than $2 trillion each day, putting the partnership at the core of the US banking system.
The network is expected to become available to participating institutions in the first half of 2027, with additional details on participation and use cases to be announced as development progresses.
Hedera Rides Its Own Wave$HBAR was not far behind, climbing 26% to $0.1202 over the same 24-hour window. Its daily volume jumped more than 14-fold to $1.18 billion, lifting its market cap to $5.26 billion. The primary catalyst was a September 23 announcement from Switzerland's Hashgraph Group, which said its IDTrust identity platform, built on Hedera, had been validated by IBM and listed in the IBM Cloud Catalog. The Hashgraph Group also received IBM Silver Partner status and signed a global Embedded Solution Agreement covering IBM Cloud and AI technology, giving Hedera a commercial connection to one of the world's largest enterprise technology ecosystems.
Together, the two tokens stood out as the top performers among the 100 largest cryptocurrencies on an otherwise difficult day for the market. Bitcoin fell 1.7% and the total crypto market cap slipped 1.7% to $2.86 trillion, per CoinMarketCap data.
Sources:
The Clearing House: On-Chain Money Initiative announcement
The Clearing House Partners with Quant to Advance the On-Chain Money Initiative (PR Newswire)
The Clearing House Selects Quant for Tokenized Deposit Interoperability (Ledger Insights)
Strategy koupila dalších 1 665 BTC za 142,7 milionu USD a současně odkoupila STRC za 151,7 milionu USD. Celkové držby Bitcoinu tak vzrostly na 847 666 BTC.
Strategy has acquired another 1,665 BTC for approximately $142.7 million while spending $151.7 million to repurchase STRC preferred shares during the week ended Sept. 27.
Summary
Strategy bought 1,665 BTC for $142.7 million, lifting total Bitcoin holdings to 847,666 coins overall. Strategy repurchased 1,534,530 STRC shares for $151.7 million during the September 21 to 27 period. MSTR sales generated $246.2 million net proceeds, with no preferred shares issued during the week. Strategy held $5.02 billion in USD Reserve and $1.00 billion in deployable USD Cash overall. Bitcoin holdings cost $63.95 billion in aggregate, averaging $75,437 per coin including fees and expenses. Strategy disclosed the transactions in a Sept. 28 Form 8-K, showing that the company paid an average of $85,681 per BTC, including fees and expenses, between Sept. 21 and Sept. 27. The purchase lifted its Bitcoin holdings to 847,666 BTC.
During the same period, Strategy sold 1,469,165 MSTR shares through its at-the-market program, generating $246.2 million in net proceeds. Of that amount, $142.7 million funded the Bitcoin purchases and $103.5 million went toward STRC repurchases.
The company issued no STRF, STRC, STRK or STRD preferred shares through its ATM programs during the week.
Strategy Bitcoin holdings reach 847,666 BTC Following the latest purchase, Strategy held 847,666 BTC acquired for an aggregate $63.95 billion. Its average acquisition cost stood at $75,437 per BTC, including fees and expenses.
The latest addition follows Strategy’s 950 BTC purchase after a two-week buying pause reported for the previous week. The company spent $75.7 million on that acquisition at an average price of $79,670 per BTC, increasing holdings at the time to 846,000 BTC.
Strategy’s new $85,681 average purchase price for the Sept. 21-27 period was above Bitcoin’s latest market price. CoinGecko shows BTC trading near $83,401 at the latest reading, around 2.7% below Strategy’s average price for the latest purchase.
At that market price, Strategy’s 847,666 BTC position would be worth roughly $70.7 billion. The calculation uses a live market price and therefore differs from the company’s recorded acquisition cost.
STRC repurchases reach another $151.7 million Alongside the Bitcoin acquisition, Strategy repurchased 1,534,530 shares of its Variable Rate Series A Perpetual Stretch Preferred Stock, or STRC, for approximately $151.7 million.
The latest transaction continues a repurchase program that Strategy began earlier in 2026. After the latest week, $723.5 million of authorization remained under its digital credit securities repurchase program, according to the filing.
Strategy’s previous $174 million STRC repurchase came during the Sept. 14-20 period, when the company spent more on preferred-stock repurchases than on its $75.7 million Bitcoin purchase.
Earlier in September, Strategy doubled its digital credit securities repurchase authorization to $2 billion after spending $176.3 million on STRC during a week when it bought no Bitcoin.
Strategy said in July that it intends to repurchase STRC while the preferred stock trades below its $100 stated amount, subject to market conditions, liquidity and other capital priorities.
MSTR sales funded both transactions Strategy financed the latest Bitcoin purchase and part of the STRC repurchase through MSTR common-stock sales.
The company raised $246.2 million in net proceeds by selling 1,469,165 MSTR shares between Sept. 21 and Sept. 27. The filing assigns $142.7 million of those proceeds to Bitcoin purchases and $103.5 million to STRC buybacks.
A further $48.1 million of the STRC repurchase came from Strategy’s USD Cash balance. Over the same period, the company used $22.1 million from its separate USD Reserve to pay preferred-stock dividends.
Strategy reported $18.84 billion of additional MSTR issuance capacity under its ATM program as of Sept. 27. No preferred shares were sold during the latest reporting period.
The latest funding structure differs from the previous week, when Strategy made no ATM stock sales and used existing cash to fund its Bitcoin purchase and STRC repurchases.
Strategy keeps $6.02 billion in dollar assets Strategy ended Sept. 27 with a $5.02 billion USD Reserve and $1.00 billion in USD Cash, giving the company a combined $6.02 billion across the two balances.
The company defines the USD Reserve as capital designated to support preferred-stock dividends and interest payments on outstanding debt. USD Cash is maintained separately for Bitcoin purchases, reserve additions, capital management and other treasury uses.
The cash framework has changed materially since July, when Strategy built a $3.75 billion reserve while Bitcoin buying remained paused.
Strategy’s board expanded its STRC repurchase program during September while continuing to manage Bitcoin purchases, common-stock issuance and preferred-stock obligations through separate pools of capital.
As of Sept. 27, the company still had $723.5 million available under its digital credit securities repurchase authorization and $1 billion available under its separate MSTR common-stock repurchase program.
In brief Strive bought 1,107 BTC between Sept. 21 and Sept. 25 at an average of $85,396, bringing its stash to 27,462 BTC worth about $2.3 billion. SATA preferred stock supplied 85% of the capital raised, including $12.4 million from warrant exercises, per CEO Matt Cole. Strive remains the fifth-largest public Bitcoin holder and would need roughly 1,235 BTC a week to catch Twenty One by year-end. Strive kept its Bitcoin shopping streak alive last week, though its cart was a bit lighter.
The Dallas-based asset manager bought 1,107 BTC for about $94.5 million between Sept. 21 and Sept. 25, paying an average of $85,396 per coin including fees, according to a Form 8-K filed Monday with the SEC.
Its holdings now total 27,462 BTC, worth about $2.3 billion at Friday's closing price of $83,943, the company said.
That's a step down from the prior week, when Strive's stash grew by 1,355 BTC, based on its previous filings.
Once again, preferred stock footed most of the bill. "Warrant exercises generated another $12.4M. Including those proceeds, 85% of total capital raised came from SATA," CEO Matt Cole wrote on X.
Strive acquired 1,107 $BTC for $94.5M at an average cost of $85,396 per bitcoin, bringing total holdings to ₿27,462.
Warrant exercises generated another $12.4M. Including those proceeds, 85% of total capital raised came from SATA.$ASST $SATA pic.twitter.com/duihTtFKrm
— Matt Cole (@ColeMacro) September 28, 2026
SATA is Strive's variable-rate perpetual preferred stock, which pays dividends and lets the company raise money with less dilution for common shareholders. Its share count rose by roughly 1 million during the week to 12.2 million, the filing shows. At its $100 stated amount, that puts SATA's notional value at about $1.22 billion. Class A common shares rose by about 649,000.
Strive's cash pile also grew by $19.2 million to $248.8 million.
Strive leans heavily on SATA to fund its buys. Its 469 BTC purchase earlier this month, which lifted holdings to an even 25,000 coins, was paid for entirely with the preferred stock. A $109 million purchase in early September split funding 70/30 between SATA and common stock.
Strive ranks fifth among public Bitcoin holders, behind Strategy, Twenty One Capital, Metaplanet and MARA, according to Bitcoin Treasuries data. To catch Twenty One's 43,514 BTC by year-end, it would need about 16,050 more coins, or roughly 1,235 a week.
Rival treasury firms also disclosed purchases Monday. Strategy added 1,665 BTC for $142.7 million, pushing its holdings to a record 847,666 BTC. Tom Lee's Bitmine picked up 17,362 ETH worth about $47 million, bringing it to 4.9% of Ethereum's supply.
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Bitcoin Standard Treasury Company ukončila plánovanou fúzi se SPAC Cantor Equity Partners I a zůstane soukromá. Firma chce návrat na veřejné trhy až po zlepšení podmínek a vlastní struktury.
Adam Back’s Bitcoin treasury firm has officially ended its planned merger with Cantor Equity Partners I, stepping back from what would have been one of the more ambitious crypto public listings in recent memory. Bitcoin Standard Treasury Company, known as BSTR, terminated the deal on August 20, 2026, after a shareholder vote was delayed so many times it started to feel less like a postponement and more like a slow goodbye.
The company’s CIO, Sean Bill, confirmed the firm will stay private until both market conditions and its internal structure are in better shape. That’s a significant pivot for a company that once styled itself the “Berkshire Hathaway of Bitcoin” and had a Nasdaq debut firmly in its sights.
What the deal looked like before it unraveled BSTR was not approaching this merger quietly. The company had assembled an initial balance sheet of approximately 30,021 BTC, valued at over $3 billion at the time of the planned listing. Of that, 25,000 BTC came from founders, with the remaining 5,021 BTC contributed through in-kind PIPE financing.
The broader PIPE structure was substantial: up to $1.5 billion in total, broken into $400 million in common equity, up to $750 million in convertible securities, and a layer of preferred equity on top. The overall deal was valued at roughly $4 billion, which would have made it a serious entrant into the increasingly crowded Bitcoin treasury company space.
The shareholder vote that was supposed to seal the deal was originally set for sometime in June or July 2026. It got pushed to July 10. Then it got pushed again, indefinitely. By the time BSTR officially walked away in August, the repeated delays had already told most of the story.
The executive bench BSTR assembled was notable. President Katherine Dowling and CFO Bob Stefanowski, who joined in February 2026, rounded out a leadership team that leaned heavily on traditional finance credibility alongside Back’s Bitcoin reputation.
What comes next for BSTR and the treasury company model The company has signaled it has not abandoned public market ambitions entirely. The framing from Bill is a pause, not a permanent exit: revisit the structure, wait for better conditions, then come back.
The active management positioning BSTR adopted also sets it apart from companies like MicroStrategy, which operates as a more passive accumulator. BSTR’s pitch was that it would do more than hold Bitcoin, focusing on yield generation in addition to long-term holding.
Disclosure: This article was edited by John Chen. For more information on how we create and review content, see our Editorial Policy.
Breez SDK nově umožňuje přijímat USDT a USDC z více než 30 sítí přímo do bitcoinového nebo dolarového zůstatku. Podporuje mimo jiné Ethereum, Base, Solanu a Tron.
Breez, a Bitcoin software provider focused on payments infrastructure, has introduced a new feature in its Breez SDK that allows users to receive stablecoin payments from more than 30 different networks directly into their bitcoin or dollar balance. The update addresses common usability issues with stablecoins, which usually require separate wallets and work on various blockchains, posing challenges for both crypto newcomers and seasoned users.
New cross-chain payments capabilityThrough the enhanced Breez SDK, applications can now enable users to accept payments sent in leading stablecoins USDT and USDC, supporting networks such as Ethereum, Base, Solana, and Tron. Recipients with a bitcoin balance can select both the sender’s network and the desired payment amount. After making a selection, the SDK generates a deposit address, calculates the incoming value, and notifies the sender, who simply pays from their existing wallet.
Payments are converted in the background by Flashnet, a payment conversion platform. The resulting funds are deposited either as bitcoin or as stable, dollar-denominated balances in the recipient’s non-custodial wallet, depending on user preference.
Mini dictionary: Breez SDK is a developer toolkit that enables applications to integrate bitcoin and Lightning Network payments using minimal code, eliminating the need for developers to build and manage the payment infrastructure themselves.
The rollout of stablecoin receiving follows the June launch of the send USDT/USDC function, offering developers a unified solution for moving stablecoins in either direction across most major blockchain networks.
FeatureBefore UpdateAfter UpdateStablecoin Payment DirectionSend onlySend and receiveSupported NetworksLimited30+ networksIntegrationManual for each chainSingle unified integrationFocus on usability and securityBreez has prioritized making bitcoin-powered apps feel familiar to regular fintech users by implementing features such as passkey login in place of seed phrases, instant onboarding through Cash App, and dollar-denominated balances. The latest stablecoin integration is part of ongoing efforts to break down barriers for mainstream use of bitcoin apps.
Breez’s reference application, Glow, launched in August, showcases the SDK’s functionality and demonstrates how multiple features can be layered for an improved user experience. Users can navigate between stablecoin and bitcoin payments within a single app to support a wide variety of everyday transactions.
Collaboration with Turnkey and broader adoption goalsIn July, Breez announced a partnership with Turnkey, a security infrastructure provider. This collaboration allows developers to implement non-custodial bitcoin services, even when running application wallets from their own servers. The solution addresses custody roadblocks that have deterred major consumer platforms from integrating bitcoin payments to date.
The non-custodial approach ensures that users retain full control over their funds, a key consideration for both compliance and security-conscious projects.
Users can now receive USDT or USDC from over 30 networks, including Ethereum, Base, Solana, and Tron, directly to a single bitcoin or USD balance, with no need to integrate a new blockchain. The value is transferred seamlessly through a streamlined process that feels like a regular payment app.
These enhancements further establish Breez as an innovator in the open-source Bitcoin ecosystem, pushing for a broad adoption of bitcoin and stablecoin payments through accessible developer tools and integrated solutions.
Tether a Shiga plánují pro Afriku a GCC self-custody peněženky pro USD₮, Bitcoin a Tether Gold. ENTA míří na jednotlivce a firmy, Pulse na banky a fintech.
Tether and Shiga have announced plans to bring self-custodial wallets for USD₮, Bitcoin, and Tether Gold to individuals and institutions across Africa and the Gulf Cooperation Council.
Summary
Shiga plans two products: ENTA for individuals and businesses, and Pulse for banks and fintech companies. Users will be able to fund ENTA wallets with local currency, U.S. dollars, or Bitcoin. Institutional clients can use Shiga-managed infrastructure or run the wallet software in their own environment. Shiga says its Nigerian Digital Asset Intermediary licence remains subject to final approval. Tether said in its Sep. 28 announcement that both products will use its open-source Wallet Development Kit, or WDK. Shiga will offer one product directly to users and another to institutions building payment and treasury services for their customers.
The plan extends a relationship that began with Tether’s investment in Shiga Digital in June 2025. At the time, crypto.news covered the investment and Shiga’s existing services for African businesses, including virtual accounts, foreign exchange, treasury management and over-the-counter transactions.
Shiga’s ENTA will put three assets in user-controlled wallets Under the new plan, ENTA will serve individuals, high-net-worth users and businesses. Tether said customers will be able to add funds using local currency, U.S. dollars, or Bitcoin, then hold and transfer USD₮, Bitcoin and XAU₮ from self-custodial wallets.
The funding options and the assets held in the wallet serve different roles. A customer adding local currency, for example, would use it to fund access to the supported digital assets; the announcement does not say that ENTA will hold local currency as a wallet asset. Tether also did not give a launch date, list the countries where ENTA will first be available, or set out the fees customers would pay.
Shiga’s focus on cross-border transfers comes amid high remittance costs in the region. The World Bank’s remittance price report put the average cost of sending money to Sub-Saharan Africa at 8.46% in the third quarter of 2025, the highest average among the receiving regions it tracked. Neither Tether nor Shiga provided a comparable cost estimate for transfers through ENTA.
Tether chief executive Paolo Ardoino said WDK would let companies build products in which users retain control of their assets.
“Together with Shiga, we are bringing that infrastructure to markets where people and businesses face real challenges protecting savings and moving money across borders,” Ardoino said.
The three-asset approach gives customers access to a dollar-linked token, Bitcoin and tokenized gold within the planned product. Tether has also worked with Opera on MiniPay, a separate self-custodial wallet serving markets that include Africa. In February, the MiniPay wallet expansion added access to USD₮ and tokenized gold, according to the companies’ announcement covered by crypto.news.
Pulse will let institutions choose where to run the software For banks, fintech companies and other institutional clients, Shiga plans to offer Pulse as a platform they can adapt to payment corridors, treasury work and settlement flows. Chief executive Abiola Shogbeni said the company would tailor the product to each institution’s operations instead of supplying the same wallet interface to every client.
Tether said institutions will have two deployment choices. They can use WDK infrastructure managed by Shiga, or operate it in their own environment while keeping control of their keys, data, and funds. The second option is intended for clients with requirements governing where data is held and who controls the systems used to sign transactions.
WDK supplies the wallet software beneath both ENTA and Pulse. According to Tether, a single integration will allow Shiga to support the blockchain networks available through the toolkit. Tether describes WDK as open-source infrastructure for building self-custodial wallets, with support for assets including Bitcoin, USD₮ and XAU₮.
The institutional product is planned for the Africa–GCC corridor, but Tether has not named a bank or fintech company that has agreed to deploy Pulse. The announcement also does not identify an initial payment corridor or transaction volume for either product.
Within the Gulf, XAU₮ already has a specific regulatory designation in Abu Dhabi Global Market. In July, Abu Dhabi recognized XAU₮ as an Accepted Spot Commodity. That status permits firms with the relevant ADGM approvals to provide services involving the token; it does not grant Shiga or every firm in the financial center automatic approval.
Nigerian licence remains under review Shiga chief operating officer Dami Etomi said the company is in the final stage of approval for a Digital Asset Intermediary licence in Nigeria. If approved, the licence would authorize Shiga to provide regulated digital asset dealing, broking and custody services to individuals and institutions in the country. Shiga has not said that it holds the licence yet.
Etomi also said Shiga will operate ENTA on the platform it offers to institutional clients. Prospective Pulse customers would therefore be able to examine a live Shiga product using the underlying infrastructure, although the company has not specified when ENTA will go live.
For U.S. readers, the announcement concerns products planned for Africa and the GCC; it does not announce U.S. availability. U.S. Treasury’s August rulemaking proposal separately addresses when U.S. digital asset service providers may offer foreign-issued payment stablecoins. Tether and Shiga did not describe the planned products’ U.S. access or their treatment under that proposed rule.
Capital B, a Paris-listed Bitcoin treasury company, bought 13 Bitcoin (BTC) for €0.97 million. The purchase lifts its total holdings to 3,538 BTC.
The firm also reported a BTC Yield of 2.20% for the year so far. That metric tracks how much Bitcoin the company holds per fully diluted share.
Capital B Bitcoin Buy Lands Below Average CostThe company paid an average of €74,364 per coin this time. That sits well under its €87,805 average cost across the whole treasury, which cost €310.6 million to build.
That stash ranks second among European public companies, according to Bitcoin Treasuries. Only Germany’s Bitcoin Group SE holds more, with 3,605 BTC.
However, the market value tells a different story. The company’s own figures put the holdings’ net asset value at about €259.9 million, based on the previous day’s closing price. As a result, the treasury carries a paper loss of roughly €50.8 million.
Meanwhile, Bitcoin trades near $82,800, down 2.29% on the day, according to BeInCrypto data. Over the past month, it has gained about 7%.
Earlier in September, Capital B added 376 BTC for about €25.3 million, its largest purchase this year. Blockstream CEO Adam Back also put €7.6 million into Capital B that month.
Bitcoin (BTC) Price Performance. Source: BeInCrypto MarketsParis-based asset manager TOBAM supplied the cash through an at-the-market (ATM) agreement. Under this deal, Capital B issues new shares whenever the fund requests them.
Between September 14 and 22, three TOBAM funds took 172,978 shares at about €5.68 each. That price was a 3.8% premium to the prior closing price, the company says.
Blockstream Capital Partners remains the largest shareholder with 18.67% of ordinary shares. Back personally holds another 17.54%.
Swissquote Bank Europe executed the trade and holds the coins. The bank is licensed under the EU’s Markets in Crypto-Assets (MiCA) rules and acts as Capital B’s sole custodian.
Other firms have used similar share-funded buying strategies this year. In addition, treasury firms kept accumulating coins through a volatile September.
For now, Capital B keeps adding coins below its cost basis. Consequently, each purchase slowly pulls that average lower. How fast it falls may depend on how much appetite TOBAM keeps showing for new shares.
Spotové Bitcoin ETF zaznamenaly za týden končící 25. září čistý příliv 2,4 miliardy USD, nejvíc od října 2025. Tím dostaly letošní čisté toky do plusu zhruba 934 milionů USD.
Spot Bitcoin [BTC] ETFs saw weekly inflows worth $2.4 billion on the week ending the 25th of September.
This marked their largest weekly inflow since October 2025, which was strong enough to reverse their previously negative performance for 2026.
With this, Bitcoin ETFs were also able to push their year-to-date net flows to approximately $934 million positive.
Bitcoin ETF weekly update According to Farside Investors, between the 21st and 25th of September, BTC ETFs recorded strong but gradually declining inflows.
Source: Farside Investors That said, the total net inflows peaked at $999 million on the 21st of September, led by BlackRock’s IBIT with $381.4 million.
Fidelity’s FBTC followed the lead with $238.8 million, and ARKB joined the trail with $289.1 million in inflows.
Needless to say, inflows remained strong on the 22nd of September at $714.7 million, before falling to $346.9 million on the 23rd of September, $190.7 million on the 24th of September, and $134.5 million on the 25th of September.
Weak macroeconomic conditions do not add up Interestingly, this happened despite a weak macroeconomic backdrop, which remained challenging for Bitcoin.
According to AMBCrypto’s previous report, the U.S. 10-year Treasury yield climbed to around 5.12% on the 23rd of September, its highest level since 2007, even as Bitcoin moved above $87,000.
At the same time, the Fed’s hawkish stance, persistent inflation concerns, and stronger September PMI data increased expectations of another rate hike.
Needless to say, all these factors have the potential to keep financial conditions tight and reduce liquidity available for riskier assets such as Bitcoin. For its part, falling Brent crude prices below $100 offered some potential relief on inflation, but oil remained elevated.
Yet, despite these headwinds—and the CLARITY Act’s failure to advance—Bitcoin still recovered from around $75,000 to above $87,000. And this was only possible because of the strong demand for Bitcoin ETFs.
Roadblocks remain However, the current market conditions are raising red flags as Bitcoin’s price was was trading at $82,956.98 at press time after a drop of 2% in the past 24 hours.
Meanwhile, the Bitcoin exchange netflows chart highlighted a negative netflows streak, indicating that more BTC was moving out of exchanges than into them during this period.
Source: CryptoQuant But this in a practical sense is a good sign, as such withdrawals do reduce the amount of Bitcoin immediately available for selling.
Altcoin ETF past week performance While all this was happening around Bitcoin ETFs, other altcoin ETFs also remained positive in the past week.
Ethereum [ETH] ETFs recorded $689.88 million, Solana [SOL] ETFs followed with $188.22 million, while XRP ETFs attracted $75.59 million. Lastly, Hyperliquid [HYPE] ETFs also recorded positive inflows of $9.25 million.
Source: SoSo Value Overall, this shows that investor interest extended beyond Bitcoin, with Ethereum accounting for the largest share of the reported altcoin ETF inflows.
Final Summary The total net inflows peaked at $999 million on the 21st of September, led by BlackRock’s IBIT with $381.4 million. This happened despite a weak macroeconomic backdrop, which remained challenging for Bitcoin.
Michael Saylor zveřejnil další bitcoinový graf s nápisem „Even more orange“, což často předchází novému nákupu Strategy. Minulý týden firma oznámila nákup 950 BTC za zhruba 76 milionů USD.
Michael Saylor, executive chairman of Strategy (formerly MicroStrategy), posted a new Bitcoin (BTC) chart on Sunday with the caption “Even more orange.” Posts like this one have often come a day before the company reports new Bitcoin purchases.
Strategy is the largest public company holding Bitcoin. It reports its purchases in filings with US regulators, usually on Mondays.
Last Sunday’s Orange Post Came a Day Before a 950 BTC BuyOrange is Bitcoin’s brand color. Each orange dot on Saylor’s chart marks a purchase, and bigger dots mean bigger buys.
Michael Saylor Bitcoin Buy Signal. Source: Saylor on X “Even more orange,” Saylor indicated.
Last Sunday, he posted a similar chart captioned “A little more orange.” That evening, BeInCrypto reported Saylor’s buying hint and said Monday’s update would settle it.
It did. The next day, MicroStrategy disclosed a 950 BTC purchase worth about $76 million, or $79,670 per coin, according to its ledger. That brought its holdings to 846,000 BTC.
Notably, however, the signal does not always lead to a buy, though. The week before, Strategy’s filing showed no Bitcoin bought or sold.
Why MicroStrategy’s Next Bitcoin Move MattersStrategy has not only been buying this year. Its ledger lists four sales between June 30 and August 10, totaling 6,916 BTC.
Last week it also spent $174 million buying back STRC, a preferred share that pays holders a monthly dividend. That was more than twice what it spent on Bitcoin.
Right now, Bitcoin trades near $84,974, up 1% over 24 hours. That puts the price about 13% above Strategy’s average cost of roughly $75,416 per coin. Earlier this month, the company sat 2% above cost.
Monday’s filing will show whether last week’s 950 coins restarted steady buying or set a slower pace.
Bitget začne od 28. září v 08:00 UTC postupně obnovovat výběry po bezpečnostním incidentu v peněženkové infrastruktuře. Jako první se otevřou výběry Bitcoinu, poté Etheru 29. září, USDT 30. září a nakonec všech zbývajících aktiv 2. října.
Cryptocurrency exchange Bitget will begin restoring customer withdrawals in stages from September 28, four days after it detected and contained a security incident in its wallet infrastructure. The vulnerability behind the breach has been identified and remediated, and the exchange is reopening withdrawals in dated phases while independent security firms review the fix, according to a notice on Bitget’s support center. Trading and deposits have continued uninterrupted throughout the pause.
Four phases for the return of withdrawals Bitcoin withdrawals reopen first, at 08:00 UTC on September 28, on the Bitcoin network. Ether withdrawals follow at the same time on September 29 across Ethereum, BNB Smart Chain, Arbitrum, Base and Optimism. Tether’s USDT returns on September 30 across Ethereum, BNB Smart Chain, Solana and Tron, and all remaining tokens, fiat services and peer-to-peer transfers are scheduled for October 2. Bitget said the staggered rollout lets it restore services “as quickly and safely as possible” while its teams finish security checks across the withdrawal infrastructure. The phased schedule also lets the exchange bring withdrawals back in an orderly way, and Bitget said the same timetable applies consistently across users without preference.
Bitget said its security and technical teams have been running additional validation and security checks, with independent cybersecurity firm Mandiant and blockchain security company SlowMist supporting the investigation. The exchange described the withdrawal pause as a precaution “not related to the availability of user assets,” said account balances remain unaffected, and said its Protection Fund covers the financial impact of the incident. Bitget added that the incident remains contained and that no further unauthorized transfers are possible. Users do not need to take any action ahead of the rollout, and the exchange said withdrawal availability will appear directly on the Bitget platform as each phase opens.
Recovery after the hot wallet breach The resumption follows the exchange’s disclosure that it detected unauthorized transfers from some of its hot wallets on September 24 and later confirmed a $351.6 million hot wallet breach. Bitget said its cold wallets were secure and that trading and deposits continued throughout the pause. The episode underscores the security trade-off between internet-connected hot wallets and offline cold storage, which exchanges use to keep the bulk of customer assets away from the network. Bitget has asked users to follow its official channels for updates as the remaining phases come online.
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Capital B financuje nákupy Bitcoinů prostřednictvím emise akcií a konvertibilních nástrojů; k 14. září držela 3 525 BTC za zhruba 309,7 milionu EUR. U takové strategie je klíčové ředění a refinanční riziko.
Capital B is converting traditional capital-market funding into direct Bitcoin purchases, including through ATM equity issuance. The U.S. reserve primarily changes potential sell-side supply because its initial BTC came from government forfeitures rather than market purchases. Corporate BTC can look structurally scarce until financing conditions change, making dilution, conversion terms and refinancing risk part of Bitcoin’s supply story. Bitcoin’s supply cap has not changed. The financing structures competing for that supply have.
Capital B is using equity and convertible instruments to build a Bitcoin treasury. The U.S. government has placed forfeited BTC into a strategic reserve governed by a no-sale policy. Coinbase CEO Brian Armstrong continues to argue that Bitcoin could reach $400,000 by 2030 as institutional adoption expands.
These developments are often grouped together as institutional adoption, but their market mechanics are different. A corporate treasury creates new demand when it raises capital and buys BTC. A government reserve can restrict potential supply without purchasing coins on the open market. Meanwhile, derivatives allow investors to create large amounts of Bitcoin exposure without permanently absorbing the underlying asset.
The question is no longer simply who owns Bitcoin, but how those holdings are financed and what could eventually bring them back onto the market.
Capital B Is Turning Securities Into Bitcoin Capital B CEO Alexandre Laizet sees listed companies as a bridge between BTC and investors whose capital largely remains inside conventional securities markets.
Capital B’s own financing history shows how that bridge works.
The Euronext Growth Paris-listed company reported 3,525 BTC in strategic holdings as of September 14, acquired for approximately €309.7 million at an average cost of €87,854 per BTC. Its latest four-Bitcoin purchase followed a €250,000 capital increase under an ATM-type agreement with TOBAM.
A much larger transaction one week earlier provides a clearer example. Capital B raised €1.44 million through its ATM program and another €28.7 million through a private placement with warrants, then acquired 376 BTC for €25.3 million.
The company’s financing has not been limited to common equity. Capital B reported raising €127.2 million through equity operations and €151.1 million through Bitcoin-denominated convertible bonds during 2025. It has also renewed a €300 million ATM-type program with TOBAM.
That makes the treasury strategy partly a capital-markets trade.
An investor can buy or subscribe to a conventional security while Capital B ultimately converts part of the proceeds into BTC. Bitcoin demand is generated downstream from activity occurring in equity and debt markets.
ATM Equity and Convertibles Carry Different Risks Those funding mechanisms behave differently when markets turn.
An ATM program allows a company to issue new shares progressively rather than raising all of its capital in one transaction. It can be attractive when the company’s stock trades at valuations that make issuing equity economically favorable.
The cost is dilution.
Capital B’s September 14 disclosure shows 38.29 million issued shares and 47.84 million shares on a fully diluted basis. The company explicitly measures its strategy partly by BTC per fully diluted share, making dilution central to whether additional Bitcoin purchases actually improve the exposure of existing shareholders. actusnews.com
Convertible debt creates another set of trade-offs.
A convertible bond can become equity when its conversion conditions are attractive. If the share price does not support conversion, however, the instrument retains characteristics of debt rather than automatically disappearing into the equity base. Depending on the specific bond terms, that can leave the issuer facing repayment, refinancing or other contractual obligations.
Capital B has already adjusted conversion prices on some of its instruments. In May, for example, it reduced the conversion price of convertible bonds subscribed by Adam Back from €5.174 to €2.59 per share and amended the instruments to include warrants upon conversion.
Other convertibles have converted into equity. In August, 14.2 million OCA B-01 instruments held by Blockstream Capital Partners were converted into roughly 28.7 million ordinary shares.
This is where the corporate Bitcoin scarcity thesis becomes more complicated. BTC itself has no maturity date, but the securities used to finance its acquisition can carry conversion terms, dilution or refinancing requirements.
Washington Removes Supply Without Becoming the Same Kind of Buyer The U.S. Strategic Bitcoin Reserve operates through a different mechanism.
President Donald Trump’s March 2025 executive order capitalized the reserve with Bitcoin already owned by the Treasury following completed criminal or civil forfeitures. It states that BTC deposited into the reserve shall not be sold and should be maintained as a U.S. reserve asset, subject to applicable law and specified exceptions.
Treasury and Commerce were also directed to develop strategies for acquiring additional Bitcoin, but only when those methods are budget-neutral and impose no incremental cost on taxpayers. The administration’s subsequent digital-assets report reiterated that framework.
There is therefore an important difference between Washington and a treasury company such as Capital B.
Capital B can raise capital and enter the market to acquire BTC. The federal reserve began primarily by changing the treatment of Bitcoin the government already controlled.
One creates active demand. The other can reduce a source of potential future selling.
Armstrong’s $400,000 Call Is a Different Bet Coinbase CEO Brian Armstrong has put a much larger number on Bitcoin’s potential destination.
Armstrong said this month that $400,000 by 2030 remains a “reasonable target,” while arguing that Bitcoin may have already passed the bottom of its latest cycle. He pointed to Bitcoin’s historical cycle behavior and longer-term adoption as part of his reasoning.
The forecast remains just that: a forecast.
It is more useful here because of what such a scenario would require from Bitcoin’s market structure. Sustained institutional demand would have to compete with coins held by investors, companies and potentially governments that have increasingly different incentives to sell.
That is a different proposition from simply assuming every institutional Bitcoin holding is permanently removed from circulation.
$55.26 Billion in Open Interest Shows the Other Side At the time of writing Bitcoin it trading at $84,750.52 on September 27, up 0.38% on the day. The asset had recently climbed above $86,000 after trading around $76,000 earlier in the month.
Bitcoin holds near $84,750 after retreating from a late-September high above $86,000. Source: TradingView Daily Chart The derivatives market surrounding that spot price remains substantial.
Coinglass data from September 27 shows Bitcoin open interest of approximately 651,500 BTC, worth $55.26 billion. Open interest was 0.49% higher over 24 hours.
That exposure behaves very differently from BTC held in a corporate treasury or government reserve.
Futures positions can expand without an equivalent quantity of Bitcoin being permanently removed from liquid supply. Leverage can also unwind quickly, making derivatives a source of short-term price pressure even when some underlying BTC is held with a much longer time horizon.
The market therefore contains two different forms of scarcity at once: Bitcoin’s fixed protocol-level supply and the smaller, constantly changing amount holders are actually prepared to sell.
The Weak Point in the Scarcity Trade Is the Balance Sheet Treating every corporate Bitcoin as permanently locked away misses the financing behind it.
A company issuing shares to acquire BTC can continue doing so while investors are willing to absorb the dilution and the economics remain attractive. A convertible-funded strategy depends on another set of variables, including the issuer’s share price, conversion terms, maturity structure and ability to refinance.
A severe Bitcoin bear market can pressure both sides simultaneously.
BTC can fall below a company’s acquisition cost while its stock loses the valuation premium that previously made new equity issuance attractive. Convertibles that investors were once willing to exchange for shares may remain outstanding instead, depending on their terms. Refinancing can also become more expensive precisely when the value of the company’s principal treasury asset has declined.
None of those outcomes automatically forces a Bitcoin sale. They do mean that corporate BTC is only as structurally illiquid as the balance sheet holding it allows.
Capital B’s disclosures make this especially visible because the company reports both its Bitcoin holdings and fully diluted share count. Its stated objective is not simply to own more BTC, but to increase Bitcoin per fully diluted share over time.
That is a harder test than accumulation alone.
Not Every Bitcoin on a Balance Sheet Is Equally Scarce Bitcoin’s 21 million cap describes maximum supply. It says much less about the quantity actually available for sale at a given price.
A forfeited Bitcoin governed by a federal reserve policy has different sell incentives from BTC purchased with newly issued corporate shares. Bitcoin financed through convertible securities introduces another set of obligations. Futures exposure can change again without removing the equivalent amount of spot BTC from circulation.
That is why simply counting institutional holdings can obscure more than it reveals.
The more useful measure is the financing and mandate behind those holdings.
Capital B shows how securities markets can generate new spot demand. The Strategic Bitcoin Reserve shows how government policy can alter potential supply. The $55.26 billion derivatives market shows how large amounts of financial exposure can accumulate without producing the same scarcity effect.
At $84,750, Bitcoin’s next scarcity trade is therefore not just about how many coins remain.
It is about who controls them, what financed their purchase and what would have to happen before those holders become sellers.
Alex is a financial markets journalist and co-founder of Millennial Media Group, and he's spent close to ten years trying to answer one stubborn question: what's really driving this? It started in 2016, when Bitcoin refused to make sense to him - and rather than shrug, he stayed with it until it did. That patience became his method. He's less interested in what an asset is doing today than in the plumbing behind it: how liquidity flows, where risk hides, what a chart is quietly telling you that the headline isn't. That lens eventually stretched well past crypto into traditional markets, because the same forces - fear, leverage, incentives, timing - show up everywhere once you know how to look. Most coverage, in his view, insults the reader by stopping at the surface. Price up, price down, moving on. He'd rather leave someone genuinely understanding a move than merely informed that it happened. His path into markets ran through a Tourism degree at New Bulgarian University - proof, maybe, that curiosity beats credentials. With more than 200 deep analyses and over 10,000 articles behind him, he still walks away from most trading days having learned something he didn't know that morning.
Riot Platforms splatila úvěr od Coinbase ve výši 200 milionů USD a uvolnila 5 821 BTC v hodnotě asi 494 milionů USD. Firma zatím neřekla, zda je prodá.
Riot Platforms has repaid a $200 million Coinbase loan, releasing 5,821 bitcoin it had locked up as security. At today’s price of about $84,800, those coins are worth roughly $494 million.
Riot, a Nasdaq-listed Bitcoin (BTC) miner, now controls that stack without restriction. It is also spending heavily to turn its Texas sites into artificial intelligence (AI) data centers.
Bitcoin (BTC) Price Performance. Source: BeInCryptoWhat Riot’s Bitcoin-Backed Coinbase Loan Repayment FreedThe loan worked much like a pawn deal. Riot handed Bitcoin, USDC (a dollar-pegged digital token), and cash to Coinbase Custody as security.
Riot cleared the debt and interest on September 21, according to an 8-K filed Friday. An 8-K is a report US-listed companies must file after major events. Coinbase’s claim on the pledged assets ended the same day, and Riot paid no early repayment fee.
The released coins made up just over half of the 11,380 Bitcoin Riot held on June 30. However, the filing does not say how Riot raised the cash or what it plans for the coins.
Why Riot’s Locked Bitcoin Kept ChangingBefore the payoff, only 5,559 of Riot’s coins were free to use, its June quarterly report shows. If its holdings have not changed since, the payoff roughly doubles that pool.
The number of locked coins rose and fell with Bitcoin’s price. When the price drops, each coin covers less of the debt, so Riot had to hand over more.
That happened in February. A price slide forced Riot to add 1,825 coins, lifting its pledge from 3,977 at the end of 2025 to 5,802, its annual report shows.
The rule also worked the other way. When prices rose, the loan agreement let Riot ask for some coins back without repaying. However, Coinbase had the final say on the math.
Instead, Riot repaid the full $200 million, seven months before the loan’s April 2027 due date. The loan carried a fixed 6.15% interest rate.
Riot Has Been Selling More Bitcoin Than It MinesRiot’s recent record shows heavy selling. In the first quarter, it sold 3,778 Bitcoin for $289.5 million while mining 1,473, its production update shows.
The drawdown continued. Riot’s holdings fell from 15,680 to 11,380 coins in the second quarter, even as it mined 1,587. BeInCrypto reported in August that the miner was funding its AI buildout partly through those sales.
That buildout is large. In August, Riot signed a 20-year, $9.1 billion lease for 191 megawatts of computing capacity at its Rockdale, Texas, campus. The tenant is described only as a leading frontier AI lab.
Riot has other funding lined up, though. Morgan Stanley provided a $573 million interim loan for early construction, while a longer-term credit backstop is being finalized, Riot’s second-quarter results show.
Meanwhile, Bitcoin’s price has climbed since June 30, when the pledged coins were worth $340.7 million.
On the market, RIOT shares closed Friday at $23, down 2%. The stock lost about 3% over five days but remains up roughly 82% this year.
RIOT Stock Performance. Source: Yahoo FinanceRiot’s next quarterly report will show whether the freed bitcoin stayed on its books.
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Strategy navrhuje denní výplatu dividend u STRF, STRC, STRK a STRD místo měsíčního či čtvrtletního režimu. Pokud akcionáři schválí, STRC začne 1. listopadu 2026.
After making a comeback by adding more Bitcoin [BTC] to its treasury, Michael Saylor’s Strategy is proposing to change how dividends are accrued and paid on its preferred securities—STRF, STRC, STRK, and STRD.
With this change, Strategy wants to move from monthly, semi-monthly, or quarterly dividend schedules to a system where the dividend accrues every calendar day, including Saturdays, Sundays, and U.S. market holidays.
The accumulated amount would then be paid on the next business day, which Strategy refers to as the next evolution of its “digital credit” products.
What is this proposal all about? Additionally, the proposal aims to make Strategy’s preferred securities more like liquid cash/yield instruments by using daily dividend accruals to reduce price volatility, improve liquidity, and potentially boost demand.
For STRC, Strategy aims to keep the price near its $100 par value through share sales above $100 and buybacks below $100.
This came after the company shifted from monthly to semi-monthly dividends, which reduced ex-dividend price drops from 49 to 36 basis points. And further expects daily accruals could further reduce volatility, though this is not guaranteed.
However, if at all this happens, STRC would move from 24 record dates a year to 365, or 366 in leap years, while STRF, STRK, and STRD would shift from four quarterly record dates to daily accruals.
This means dividends would accrue about 15 times more frequently for STRC and 90 times more frequently for the other three preferreds. Remarking on the same, Saylor said,
The stronger STRC is, then the better a platform (4:03) it is for all of these other innovative products.
What’s next? However, as of now, the proposal still requires shareholder approval. But if approved, STRC would begin daily accruals on the 1st of November 2026, with the first payment on the 2nd of November.
Meanwhile, STRF, STRK, and STRD would switch on the 1st of January, 2027, after completing their existing Q4 2026 dividend cycle.
Hence, Saylor concluded it best when he said,
We think these amendments should help us issue the strongest digital credit in the world, and improve stretch, and that should also help us create the best equity in the world, MSTR, which will further help us increase our Bitcoin and our Bitcoin per share.
This came as STRC stock was trading at $98.54 after a hike of 0.23% in the past trading session. Meanwhile, MSTR was trading at $158.61 after a drop of 1.86% during the same period.
At the same time, Strategy’s Bitcoin holdings have reached around 846,000 BTC, with roughly $10 billion in unrealized losses to about $8 billion in gains.
Final Summary The proposal aims to make Strategy’s preferred securities more like liquid cash/yield instruments. Once approved, STRC would begin daily accruals on 1st November, with the first payment on 2nd November.
Crypto Recovery Trust vrátil více než 20 bitcoinů prokázanému majiteli po zneužití Coldcard. Podle Steptoe šlo o bezplatné obnovení v hodnotě téměř 1,7 milionu dolarů.
Crypto Recovery Trust has returned more than 20 bitcoin to a verified owner following a security breach connected to a Coldcard hardware wallet vulnerability. Legal adviser Steptoe confirmed the asset recovery and return in a statement dated 24 September 2026.
Asset return follows security breachSteptoe reported that Crypto Recovery Trust completed the return of bitcoin on 23 September, with the assets valued at nearly $1.7 million at the time. The process, according to the adviser, confirmed the owner’s identity and did not involve any fee for the recovery service. The Coldcard-related incident originated from a firmware issue linked to unpredictable seed randomness, which allowed assets to be moved by white-hat researchers after the vulnerability was discovered.
The statement emphasized that this recovery should not be interpreted as a blanket promise for all cryptocurrency owners who have experienced losses. Each case requires separate assessment and verification of ownership, and the trust has not offered universal guarantees for asset recovery.
Steptoe outlined that, in this instance, assets were returned to a verified owner without charge, following an incident attributed to compromised firmware seed randomness. The trust’s recovery does not serve as a general assurance for owners with similar losses.
The importance of seed protection and secure device useTechnical details surrounding the incident reveal that vulnerabilities in device firmware can make the wallet’s seed phrase, which controls access to funds, more predictable. Simply updating device software may not resolve the underlying exposure if credentials have already been compromised. Cryptography experts warn that once a secret is exposed, restoring security involves more than just applying a software fix.
Owners are urged to determine whether their particular device and configuration are impacted, rather than assuming risk based solely on the hardware wallet’s brand. It is often necessary to replace compromised credentials entirely in addition to applying any official software update.
Fast-moving trends and vulnerabilities in crypto security can attract opportunistic actors beyond device manufacturers and recovery services. The need to closely monitor wallets, exploits, and market developments is echoed in meme token trading activity, where the timing and selection of tokens has proven crucial. In the meme token market, an internet trend can transform into millions of dollars of interest within days. According to data shared by Fomo App, a trade involving “Niu Lai”—which turned an initial $99 investment into approximately $370,000, stands out as a striking example of this activity. In this market, tracking not only prices but also the timing and token choices of investors is crucial. Fomo App brings token discovery and trading together on a single platform, featuring social feeds, investor rankings, and trade notifications. Discover Fomo App to follow the world of meme tokens alongside investor activity.
Recovery impersonation and user protectionPublic reports of successful asset recovery can attract impersonators attempting to take advantage of affected users. Cryptocurrency owners are strongly cautioned not to rely on unsolicited messages promising similar returns, as these may not originate from the trusted organization. Independent verification through official channels is essential before responding to any communications regarding recovery.
Requests for sensitive information such as seed phrases or private keys pose a direct security threat. Anyone asked to provide these details should recognize this as an attempt to gain control over their wallet, not legitimate recovery protocol. The sole successfully returned funds in this case do not imply that other potential claims will be eligible or processed in the same way.
Publicizing a large return can create an opportunity for scammers, as those hoping to recover their funds might mistakenly trust messages from malicious actors posing as the recovery trust.
Steptoe’s statement clarified that each incident must be evaluated individually, and no outside communication should be trusted without official verification.
Verification and independent reviewThe Crypto Recovery Trust and its advisers did not guarantee universal restitution for losses linked to the Coldcard incident. The asset return only followed verification of rightful ownership and was facilitated by technical cooperation with involved security researchers.
External parties have not independently assessed the affected hardware or the specifics of the returned assets. Therefore, other users who believe they may have suffered losses from similar vulnerabilities should proceed with heightened caution and seek guidance from credible sources before taking any steps.
Americké spotové Bitcoin ETF přilákaly za týden 2,39 miliardy USD, přičemž všechny obchodní dny skončily v čistém přílivu. Nejvíce získal BlackRock IBIT s 1,16 miliardy USD.
U.S. spot Bitcoin exchange-traded funds took in $2.39 billion during the Sep. 21–25 trading week, with net inflows on all five days. Spot Ether ETFs added $689.8 million, while Solana funds drew $188.1 million.
Summary
Bitcoin ETFs recorded $2.39 billion in weekly net inflows, led by a $999 million Monday. BlackRock’s IBIT drew $1.16 billion, the most among Bitcoin funds. Ether ETFs added $689.8 million across five positive sessions. Solana ETF inflows reached $188.1 million, with $86.7 million arriving Friday. According to Farside Investors, Monday’s $999 million was the largest daily Bitcoin ETF inflow of the week. The funds then added $714.7 million on Tuesday, $346.9 million on Wednesday, $190.7 million on Thursday and $134.5 million on Friday.
BlackRock leads Bitcoin ETF inflows BlackRock’s iShares Bitcoin Trust, or IBIT, collected $1.16 billion over the five sessions, based on Farside’s daily fund figures. Fidelity’s FBTC followed with $701.6 million, while ARK 21Shares’ ARKB added $294.7 million. Morgan Stanley’s MSBT drew $203.3 million.
Monday accounted for nearly $1 billion of the Bitcoin funds’ $2.39 billion weekly total. IBIT received $381.4 million that day, while ARKB took in $289.1 million and FBTC added $238.8 million. Tuesday brought another $350.3 million to IBIT and $257.4 million to FBTC.
The pace slowed later in the week, but the combined funds remained positive through Friday. IBIT posted an inflow on every trading day. The weekly total also exceeded the prior week’s roughly $6.1 million net inflow, which included sharp withdrawals on Sep. 15 and 16 before flows recovered.
Bitcoin’s price moved above $87,000 earlier in the week before pulling back. crypto.news reported on Friday that BTC was holding near $84,000 despite continued ETF inflows. The fund data show sustained net buying through the price retreat; they do not establish how much of the price move came from ETF demand.
Ether funds reverse the previous week’s outflow U.S. spot Ether ETFs recorded $689.8 million in net inflows from Sep. 21 through Sep. 25, according to Farside’s Ether data. The funds added $270 million on Monday, followed by $162.2 million, $104.5 million, $66.1 million, and $87 million over the next four sessions.
The result reversed the previous week’s roughly $140.6 million net outflow. BlackRock’s ETHA led this week’s gains with $326.2 million, while Fidelity’s FETH took in $174.1 million. BlackRock’s staking fund ETHB added $47.5 million.
Monday’s $270 million was Ether ETFs’ strongest day of the week. ETHA received $110.1 million, FETH added $73 million, and Grayscale’s lower-fee ETH fund drew $59.3 million. Daily inflows became smaller as the week progressed, though the group finished each session in positive territory.
Solana ETFs finish with their strongest day Spot Solana ETFs drew $188.1 million for the week, based on Farside’s Solana figures. Their daily net inflows were $26 million on Monday, $28.9 million on Tuesday, $13.7 million on Wednesday, $32.8 million on Thursday, and $86.7 million on Friday.
Bitwise’s BSOL accounted for $128.4 million of the weekly total. It received $55.7 million on Friday, when Grayscale’s GSOL added $18.5 million, and Morgan Stanley’s MSOL took in $6 million.
Across the Bitcoin, Ether and Solana products tracked in Farside’s three tables, net inflows totaled approximately $3.26 billion for Sep. 21–25. Bitcoin funds accounted for about 73% of that combined figure.
Bitcoin has gained about 3.8% over seven days as U.S. spot Bitcoin ETFs have drawn $2.39 billion this week, while Quant, Ethena and Bitway have led the 100 largest crypto assets by weekly price gain.
Summary
Quant rose 61.8% after The Clearing House selected it for a U.S. tokenized-deposit network. Ethena gained 54.1% as it expanded USDe’s backing strategy into tokenized stocks and equity futures. Bitway climbed 48.0%, although a sharp daily reversal put its weekly advance under pressure. Bitcoin held near $84,000 after reaching an eight-month high above $87,000 earlier in the week. According to CoinGecko, Bitcoin traded near $84,077 on Sep. 26, and the total crypto market value stood near $2.98 trillion. Quant (QNT) ranked first among the top 100 seven-day gainers at 61.8%, followed by Ethena (ENA) at 54.1% and Bitway (BTW) at 48.0%. The rankings use rolling seven-day price changes, so the figures can change during the weekend.
Bitcoin ETF inflows set the market backdrop U.S. spot Bitcoin ETFs recorded net inflows on all five trading days from Sep. 21 through Sep. 25, according to Farside Investors. The funds drew $999 million on Monday and $714.7 million on Tuesday, followed by $346.9 million, $190.7 million and $134.5 million over the next three sessions. Combined inflows reached about $2.39 billion.
Bitcoin reached $87,392 on Sep. 21 before retreating toward $84,000. In a report on ETF demand published Sep. 24, crypto.news quoted BTCS S.A. strategy adviser Wojciech Kaszycki, who said cash entering spot funds supported the initial price rise while futures positions also increased. He put the next major test near $90,000 if buying continued.
CoinGecko’s seven-day figures showed a much larger move in the three leading tokens than in Bitcoin. Each also had a separate development or trading pattern behind its advance, leaving different price levels in focus for the coming week.
Quant tests $106 after clearing $100 Quant traded near $104.48 in the CoinGecko snapshot, giving it the strongest seven-day return among the 100 largest assets. On Sep. 24, The Clearing House announced that it had selected Quant to power its On-Chain Money Initiative in the United States.
Quant will provide technology to connect banks and coordinate the clearing and settlement of tokenized-deposit transactions. The Clearing House said the network will also connect with payment systems already used by financial institutions, including RTP and CHIPS. It expects the service to become available to participating banks in the first half of 2027.
The U.S. selection follows Quant’s work on a separate British bank project. On Sep. 24, six UK institutions completed live customer transactions through the Great British Tokenised Deposit initiative, which Quant supported alongside EY and Linklaters. The British project tested payments involving customers at different banks.
On the TradingView daily chart, QNT rose through the Murrey Math $100 level and traded around $104.57. Its Average Directional Index stood at 39.13, indicating a strong trend after the steep advance. Price reached $108 during the session before easing below the chart’s $106.25 overshoot level.
Quant price daily chart — Sep. 26 | Source: TradingView A move back above $106.25 would put $112.50 in focus, followed by $118.75 if buyers sustain the advance. If QNT falls below $100, the breakout would face a more demanding test at $93.75, the next marked level on the daily chart.
Ethena approaches $0.28 with RSI near 80 Ethena’s ENA traded near $0.2781 on CoinGecko after gaining 54.1% over seven days. On Sep. 25, the protocol said it would add tokenized U.S. stocks and corresponding equity perpetual futures on Binance to part of the strategy used to back its USDe synthetic dollar.
As reported on Sep. 25, Ethena plans to hold Binance bStocks for stock exposure and take offsetting positions in equity perpetuals. Ethena said Binance’s equity perpetual market had more than $2.9 billion in open interest. The stock-linked positions add another market for a strategy the protocol has also used with crypto assets.
Ethena Labs founder Guy Young called it “the most significant expansion of USDe’s funding mechanism since we started.” The company said its Risk Committee had approved a framework for the stock-based trades.
The strategy involves tokenized U.S. equities, but Binance’s bStocks offering is available to eligible users where permitted by local law. Binance’s original bStocks launch included tokens linked to Nvidia, Tesla, Circle, Micron, and Sandisk shares. The tokens provide stock-linked exposure without the voting rights held by direct shareholders.
On the TradingView daily chart, ENA traded around $0.2756 after touching $0.2807. Price stood above its 20-day moving average at $0.1808, its 50-day average at $0.1491, its 100-day average at $0.1160, and its 200-day average at $0.1082. Daily RSI reached 79.85, above the commonly watched 70 level.
Ethena price daily chart — Sep. 26 | Source: TradingView A move above $0.2807 would extend the latest breakout. The day’s $0.2632 low is the first level to watch on a pullback; below it, the earlier $0.22–$0.23 trading area would come back into view. Ethena’s fee-switch proposal links future ENA buybacks to USDe supply thresholds, starting at $7.5 billion, rather than providing an immediate buyback at the supply level cited in the proposal.
Bitway’s reversal puts $0.76 in focus Bitway traded near $0.9032 on CoinGecko, up 48.0% for the rolling seven-day period. Its daily TradingView chart showed a much sharper move within that window: BTW reached $1.3661 before falling to about $0.9033, with the session’s low at $0.7620.
Earlier in the week, on-chain analyst Ai Yi reported that a new address withdrew 5 million BTW, worth about $3.71 million at the time, from Gate. Other reports of the analyst’s findings put the combined withdrawals by three new addresses at 15 million BTW within three hours. The transfers occurred during the rally, but the transactions alone do not establish who controlled the wallets or why BTW’s price rose.
Bitway also has a staking program running from Sep. 1 to Oct. 1, with an 8% stated annual rate on USDT and an additional 3% offered in BW Points. Its earlier incentive programs were covered in an August Bitway price report after the token rose sharply that month.
The latest daily candle leaves BTW below the Bollinger upper band near $1.1513 but above its middle band near $0.7121. Regaining $1.00 and then $1.1513 would bring the $1.30–$1.37 area back into focus. A fall through the $0.7620 daily low would put the $0.7121 middle band next on the chart.
Bitway price daily chart — Sep. 26 | Source: TradingView Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
PayPal v Lucembursku od 25. června 2026 pozastaví nákupy Bitcoinu a dalších kryptoměn kvůli novým pravidlům vyplývajícím z CARF. Uživatelé mohou dál své držené kryptoměny prodávat a spravovat.
PayPal has hit pause on cryptocurrency purchases for its European users in Luxembourg, effective June 25, 2026. The culprit: a new international tax reporting framework that requires the company to collect and verify detailed customer information before it can legally facilitate new buy orders.
The temporary freeze applies specifically to new purchases of Bitcoin and other crypto assets through PayPal’s platform in Luxembourg. Users who already hold crypto in their PayPal accounts can still sell or manage those positions. They just can’t add to them for now.
What CARF actually requires The Crypto-Asset Reporting Framework, or CARF, is the OECD’s answer to a simple question: how do you tax something that moves across borders as easily as an email? Developed by the Organisation for Economic Co-operation and Development, CARF creates a standardized way for countries to share information about crypto transactions, much like the Common Reporting Standard already does for traditional bank accounts.
Luxembourg has now written CARF into local law, which means any company facilitating crypto transactions there needs to collect specific data from its customers. That includes account holder addresses, tax identification numbers where applicable, and classifications of account entities.
All of that information ultimately gets reported to Luxembourg’s tax authority, the Administration des Contributions Directes (ACD). The ACD can then share that data with tax authorities in other jurisdictions.
The requirements apply to both new and existing PayPal accounts. That means even longtime users will need to provide additional documentation as part of updated onboarding procedures.
Why PayPal chose to pause rather than patch The company has said it expects to resume crypto purchases by the end of 2026. That timeline suggests PayPal views this as a months-long engineering and compliance project, not a quick fix. The gap between the June 25 freeze and a projected late-2026 resumption gives the company roughly six months to build out the necessary systems.
It’s worth noting what this pause is not. It’s not a withdrawal from crypto. It’s not a signal that PayPal is souring on digital assets. And it’s not a market-wide disruption. The freeze is geographically contained to Luxembourg, and users retain full control over assets they already hold on the platform.
The bigger picture for crypto regulation Luxembourg’s implementation of CARF is not happening in isolation. The framework was designed for broad international adoption, and the European Union has already embedded it into its DAC8 directive, which updates the bloc’s rules on administrative cooperation in taxation.
For investors, the immediate impact is negligible. There have been no reported price effects or broader market disruptions tied to PayPal’s announcement. Luxembourg, while an important financial hub, represents a fraction of global crypto trading volume.
Disclosure: This article was edited by John Chen. For more information on how we create and review content, see our Editorial Policy.
MSCI zvažuje nová pravidla pro vyřazování firem považovaných za neprovozní, což by podle simulace mohlo zasáhnout i bitcoinové držitele Strategy a Metaplanet. CEO společnosti Strive Matt Cole vznesl námitky proti dřívějšímu návrhu MSCI týkajícímu se bitcoinu. MSCI uvádí, že zpětná vazba je splatná 30. září, výsledky očekává 16. října a případná změna by vstoupila do listopadové revize indexu 2026.
MSCI is consulting on a new index eligibility screen for companies it considers non-operating. The August 2026 proposal is not a Bitcoin-only exclusion. It would first examine operating assets, then apply five financial ratios to companies that fail the initial test. A company would fail the second screen if flagged on at least four of those ratios. MSCI says feedback is due September 30, results are expected by October 16, and any adopted change would enter the November 2026 index review.
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Why Bitcoin treasury companies are watching MSCI’s consultation uses May 2026 data to illustrate possible outcomes. Its simulated deletion list includes Bitcoin holders Strategy and Metaplanet, along with Yellow Cake, a uranium investment company. These are modeled results, not completed removals. The proposal gives existing index members a two-period buffer before a deletion, so a single failed screen would not necessarily remove a current constituent.
Strive chief executive Matt Cole raised a related objection in a letter dated December 4, 2025. That letter addressed MSCI’s earlier idea to exclude companies whose digital-asset holdings exceeded half of their total assets. Cole argued that Bitcoin treasury companies can operate structured-finance businesses and that investors should be able to choose tailored index screens. MSCI decided in January 2026 not to implement that Bitcoin-specific rule and said it would study non-operating companies more broadly.
What this article corrects An earlier version presented Cole as sending a new letter on September 25 and used Strive’s 2025 holding figure as if current. The reviewed primary records document the December 2025 letter and the August 2026 MSCI consultation, but not a new Strive letter on September 25. The earlier version also gave October 16 as the feedback deadline; MSCI lists that date for announcing results, with feedback due September 30. This correction does not claim Strive is on MSCI’s simulated deletion list or that any proposed exclusion has taken effect.
Disclosure: This article was edited by John Chen. For more information on how we create and review content, see our Editorial Policy.
Bitcoin continues to rally, even as the Federal Reserve’s recent rate hike and the failure of the Clarity Act have added new uncertainties to the market. On-chain data indicates that the supply held by long-term investors recently reached a record high of 15 million BTC, suggesting a significant shift in market dynamics.
Long-term holders and selling pressureMitchell Askew, Head of Blockware Intelligence, highlighted that this unprecedented accumulation by long-term holders may reflect an exhaustion of selling pressure. When so much Bitcoin remains inactive, it often signals growing conviction among holders and a potential foundation for sustained upward price action.
Askew pointed out that historical data shows higher dormancy of coins tends to limit immediate resistance from sellers, giving space for new buyers to accumulate without large quantities entering the market. This supply dynamic can have lasting effects on both the volatility and trend direction of Bitcoin’s price.
Recent on-chain analysis revealed that long-term holders now control 15 million BTC, the highest level ever recorded, which may enhance Bitcoin’s resilience during periods of increased market volatility.
ETF flows and institutional interestAskew also discussed the role of exchange-traded funds (ETFs) in shaping demand. He stated that ETF flows have been a notable indicator of renewed institutional interest, with recent inflows pointing to the possibility of bigger investors returning to the market after a period of caution.
This resurgence of institutional participation comes at a time when other market forces, such as technological demands from AI data centers and shifts in global mining, continue to influence the Bitcoin ecosystem. These factors contribute to complex supply and demand dynamics for Bitcoin miners, impacting hash rate trends and overall network profitability.
Broader market trends and investor behaviorFurther, industry observers have commented on the cyclical nature of Bitcoin, noting that the traditional four-year halving cycle appears less predictable due to new variables in both technology and investor behavior. Now, younger demographics like Gen Z are increasingly scrutinized for their saving and investment habits, as economic circumstances and asset preferences evolve rapidly.
Amid these developments, tracking market activity and investor sentiment has become essential not only for Bitcoin but also for the broader digital asset sector. Technical factors such as inactive supply, inflows from institutional products, and changes in network fundamentals continue to play a pivotal role in shaping outlooks.
Market observers also stress the importance of monitoring alternative signals in the rapidly growing meme token market. For example, timing and token selection by investors can lead to rapid value creation, as illustrated by the recent success of a “Niu Lai” trade on Fomo App, where a $99 purchase surged to roughly $370,000. Integrated platforms like Fomo App, which combine token discovery, social feeds, and investor rankings, are offering new tools for monitoring shifts and opportunities in this vibrant segment.
Block se připojil k x402 Foundation a do otevřeného platebního standardu pro AI agenty integroval Bitcoin Lightning Network. x402 mezitím za posledních 30 dní zpracoval 75,41 milionu transakcí v objemu 24,24 milionu USD.
Key Highlights Block has become a member of the x402 Foundation and integrated Bitcoin Lightning Network into the open payment standard. The x402 protocol enables AI agents to conduct automated payments for digital services, APIs, and data using HTTP 402 payment requests. Development code committed on September 23 revealed Lightning integration before the official public announcement. The x402 platform processed 75.41 million transactions totaling $24.24 million in volume during the most recent 30-day window. Multiple blockchain ecosystems including Cardano, Casper, and XRP Ledger have integrated support for the protocol. Block has become a member of the x402 Foundation and integrated Bitcoin Lightning Network functionality into the payment standard designed for AI agents and digital services.
Block has joined the x402 Foundation, an open standard for agentic payments, to help build the rails that will let people, businesses, and agents pay and get paid.
We’ve also contributed Bitcoin Lightning payments, which is purpose-built for the instant, low-cost, high-volume…
— Block (@blocks) September 24, 2026
The integration was publicly revealed on September 24. Block emphasized that Lightning Network aligns perfectly with the payment requirements of AI agents—specifically low fees, rapid settlement, and high transaction frequency.
Steve Lee, who oversees Block’s Bitcoin development arm Spiral, described the Lightning integration as progress toward establishing Bitcoin as practical currency for daily transactions conducted by both humans and their automated agents.
Understanding x402’s Function x402 operates as an open payment framework. Originally developed by Coinbase, the protocol now operates under Linux Foundation governance.
The system leverages the HTTP 402 “Payment Required” status code. When AI agents attempt to access APIs, datasets, or digital resources, servers can issue payment requests through this mechanism.
Agents automatically process these payment demands and resubmit their requests with payment verification. The entire sequence occurs autonomously, eliminating manual checkout processes.
Public code repositories reveal that Lightning implementation was underway before the formal announcement. A September 23 commit introduced what developers labeled “exact Lightning on lnbtc,” referencing the network identifier for this functionality.
Block has not disclosed specific metrics for Lightning transactions, merchant adoption, or AI agent usage related to this new capability. The x402 Foundation’s dashboard displays aggregate statistics across all payment methods: 75.41 million transactions, $24.24 million in total volume, 94,060 buyers, and 22,000 sellers during the preceding 30-day period.
Stablecoin Dominance in Payment Activity Stablecoins currently represent the majority of x402 transaction volume rather than Bitcoin. According to Circle’s data, USDC comprised 99.3 percent of x402 payment volume during their latest reporting quarter.
Lightning Network provides developers an alternative for direct Bitcoin settlement without dollar-pegged tokens. Erik Reppel, x402’s creator and Technical Steering Committee member, explained the protocol was architected for network-agnostic expansion without privileging specific payment infrastructure.
Block now joins an expanding roster of x402 Foundation supporters. Current participants include Google, Amazon Web Services, Coinbase, Mastercard, Visa, Stripe, Circle, Ripple, Shopify, and the Solana Foundation.
Microsoft appeared among initial supporters when the Foundation launched in April. However, the company was absent from the 40 organizations listed as operational members in the Foundation’s July announcement.
Block maintains several related initiatives in this domain. The company contributes to goose, an open-source AI agent, co-founded the Agentic AI Foundation, and participates in Google’s Universal Commerce Protocol initiative.
Multiple organizations have recently integrated x402 across various blockchain platforms. Cardano’s development environment received x402 support through an experimental testnet implementation.
Casper’s production network already operates x402 functionality enabling AI agent payments for digital services. XRP Ledger surpassed one million x402 transactions by July, with Ripple-supported t54.ai developing infrastructure for AI applications on that platform.
Amazon Bedrock AgentCore incorporated Coinbase’s x402 implementation for USDC settlements, enabling corporate AI agents to conduct payments within enterprise spending frameworks. The Graph similarly employs x402, offering developers pay-per-query blockchain data access instead of subscription models.
Block has not announced a timeline for incorporating Lightning-based x402 functionality into consumer-facing products including Square, Cash App, or Bitkey. The company confirmed ongoing Lightning development contributions and continued participation in x402 Foundation working groups.
Americké spotové bitcoin ETF přilákaly ve čtvrtek 191 milionů USD, čímž šestidenní příliv dosáhl 2,8 miliardy USD. Denní přílivy ale třetí den po sobě zpomalily.
Bitcoin ETF inflows slow to $191M as six-day streak reaches $2.8BUS 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.
Daily flows in US spot Bitcoin ETFs. Source: SoSoValueBlackRock’s iShares Bitcoin Trust (IBIT), the largest US spot Bitcoin ETF by assets, accounted for about $163 million of Thursday’s inflows, according to Farside Investors data. IBIT has attracted roughly $1.35 billion during the six-session streak, or nearly half of the funds’ combined inflows.
At the time of publication, Bitcoin traded at $83,807, down 0.3% over the past 24 hours but still up about 8% over the past seven days, according to CoinGecko.
This article is produced in accordance with Cointelegraph's Editorial Policy and is intended for informational purposes only. It does not constitute investment advice or recommendations. All investments and trades carry risk; readers are encouraged to conduct independent research.
Sequans prodala posledních 314 BTC a ukončila bitcoinovou strategii; na rozvaze už nemá žádné kryptoaktivum. Současně jen 4 z 20 největších krypto treasury firem stále obchodují nad hodnotou svých kryptoaktiv.
Sequans Communications sold its last 314 BTC and officially ends its Bitcoin strategy. The French group now holds no crypto on its balance sheet, after owning more than 3,200 BTC at the peak of its accumulation. This exit comes at a bad time for all treasury companies: according to DWF Ventures, only 4 of the 20 largest companies in the sector still trade above the value of their crypto assets. The premium that fueled their purchases is seriously starting to disappear.
In brief Sequans sold its last 314 BTC and completely leaves its Bitcoin strategy. Only 4 of the top 20 crypto treasuries still have an mNAV above 1. The disappearance of this premium makes new stock raises much less attractive. Sequans sells its last 314 BTC and closes the chapter The experience lasted a little over a year. Sequans launched its Bitcoin strategy in June 2025 after announcing a $384 million raise in shares and convertible debt. At its peak, the French semiconductor manufacturer held more than 3,200 BTC.
The exit had already started several months earlier. Cointribune detailed in May Sequans’s decision to liquidate most of its reserve to return to its core business. Sequans’s Bitcoin bet turns into a fiasco, the company sells off its assets and starts over.
In November 2025, Sequans sold 970 BTC to repay half of its convertible debt. Then, in May 2026, the company announced it was no longer pursuing its crypto treasury strategy and began gradually monetizing the remaining assets.
As of June 30, the balance sheet still showed 314 BTC valued at $18.4 million. They have just all been sold. Sequans now states it has no cryptocurrencies on its balance sheet and no longer carries any debt, except for commitments related to certain public research and development programs. Bitcoin is no longer in the equation.
Only four major crypto treasuries still keep a premium Sequans leaves as the crypto treasury companies’ model is going through a much less favorable period. DWF Ventures studied the 20 largest Digital Asset Treasuries, or DATs, according to their assets under management. Only four still showed an mNAV above 1: Bit Digital, Strive, Hyperliquid Strategies, and BitMine.
In other words, 16 out of 20 now trade below the value of their crypto reserves. The mNAV compares the value assigned by the market to the company with that of the digital assets it holds. When it exceeds 1, investors agree to pay a premium to buy the stock rather than the crypto directly.
This mechanism has long provided fuel to Bitcoin treasuries. A company valued well above its BTC could issue new shares, raise money, and then buy more Bitcoin. As long as this operation increased exposure per share, dilution was easier to defend.
Strive is among the few companies that still retain this premium. It also continues to accumulate. In early September, the company added 1,375 BTC for about $109 million, bringing its treasury to 24,531 BTC. For the majority of other crypto companies studied by DWF, the situation has reversed.
When the premium disappears, the model becomes much less comfortable A stock trading below the value of its crypto assets can still raise funds. Simply put, the operation becomes much less attractive. Issuing new shares when the mNAV is below 1 risks diluting existing shareholders without creating enough additional value per share. The cycle that allowed issuing, buying Bitcoin, then repeating becomes harder to sustain.
DWF also estimates that, since Strategy launched its strategy in 2020, most treasury company stocks have ultimately underperformed holding their crypto assets directly. Even among those that outperformed, the gap generally remained limited.
The problem is not new. Standard Chartered already warned in 2025 that a generalized drop in mNAV could trigger consolidation in the sector. Galaxy Digital made a similar observation: the model strongly depends on maintaining a market premium.
Sequans shows what can happen when this mechanism no longer works. This does not mean all Bitcoin treasuries are selling. Strategy remains, on the contrary, extremely active. Michael Saylor’s group has bought another 950 BTC for $75.7 million this week and now holds about 846,000 bitcoins. Strategy buys 950 Bitcoins for $75.7 million The market simply separates companies more. On one side, a few crypto players retain a premium and can still raise capital under good conditions. On the other, most large treasuries already trade below the value of their assets. Sequans chose not to wait any longer: last 314 BTC sold, zero crypto on the balance sheet, and back to semiconductors.
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Evans S.
Fascinated by Bitcoin since 2017, Evariste has continuously researched the subject. While his initial interest was in trading, he now actively seeks to understand all advances centered on cryptocurrencies. As an editor, he strives to consistently deliver high-quality work that reflects the state of the sector as a whole.
DISCLAIMER
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.
As the price of Bitcoin (BTC) continues to rise, the remarkable fund movements on Binance have become the focus of investors. According to CryptoQuant analyst Darkforth, Binance, one of the world’s largest cryptocurrency exchanges, recorded its highest single-day net Bitcoin outflow since 2023.
According to an analysis shared by Darkforth, Bitcoin has gained approximately 45% in value since its July levels. The fact that BTC has surpassed key technical levels and closed above $82,000 for several consecutive days is cited as one of the factors distinguishing the current upward movement from previous recoveries.
The analyst noted that despite the price increase, the accumulation trend in Bitcoin continues. This trend is clearly visible in BTC movements on cryptocurrency exchanges.
According to data, Binance hosts approximately 30% of the total amount of Bitcoin held on centralized exchanges accessible to investors. Over the past week, Binance has seen an average daily net outflow of around 2,000 BTC, while recently a single day saw a net outflow exceeding 13,800 BTC. This is reportedly the highest daily net BTC outflow seen since 2023.
Binance’s Bitcoin reserves also decreased from approximately 705,000 BTC to 685,000 BTC in the last four days. This means that about 20,000 BTC has been withdrawn from the exchange’s reserves.
According to Darkforth, the continuous withdrawal of Bitcoin from exchanges may indicate that some investors prefer to hold onto their assets long-term rather than sell them. The decrease in the amount of Bitcoin available for sale on exchanges is seen as a development that could limit potential selling pressure from a market perspective.
The analyst also noted that the recent sudden and large-scale outflows could indicate a different type of investor behavior. According to this, some investors who believe Bitcoin will continue to fall, as it did in past bear markets, may be re-entering the market as the price rises, driven by fear of missing out (FOMO).
*This is not investment advice.
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According to Farside’s monitoring, on September 24, total net inflows into U.S. spot Bitcoin ETFs hit $190.7 million, broken down as follows: BlackRock’s IBIT: +$162.6 million; Fidelity’s FBTC: +$12.9 million; Morgan Stanley’s MSBT: +$10.2 million; Franklin’s EZBC: +$4.9 million; Bitwise’s BITB: +$4.1 million; WisdomTree’s BTCW: -$4 million. ARK’s ARKB, Invesco’s BTCO, Valkyrie’s BRRR, VanEck’s HODL, Grayscale’s GBTC, and other Bitcoin ETFs saw no net inflows or outflows. Total net inflows into U.S. spot Ethereum ETFs yesterday reached $66.1 million, with breakdown: BlackRock’s ETHA: +$26.8 million; Fidelity’s FETH: +$21.5 million; Grayscale’s ETH: +$17.8 million. BlackRock’s ETHB, Bitwise’s ETHW, 21Shares’ TETH, VanEck’s ETHV, Invesco’s QETH, Franklin’s EZET, Morgan Stanley’s MSSE, and Grayscale’s ETHE recorded no net inflows or outflows.
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Strive podle odhadu získala 85,88 milionu USD prodejem SATA, což by při tehdejších cenách stačilo na zhruba 1 001,67 bitcoinu. Jde ale jen o odhad, ne o potvrzený nákup.
Strive has generated an estimated $85.88 million through sales of its SATA preferred stock over three trading sessions, enough to buy about 1,002 Bitcoin at prices recorded by BitcoinTreasuries.net.
Summary
BitcoinTreasuries.net estimates that SATA sales raised $85.88 million from Sep. 21 to Sep. 23. Its estimated Bitcoin figure is based on trading data, not a confirmed Strive purchase. Strive last reported holding 26,355 BTC after buying 1,355 BTC in the prior week. Strategy bought 950 BTC in its latest reported week while using cash to repurchase STRC shares. BitcoinTreasuries.net’s SATA tracker estimates how many shares Strive issues through its at-the-market program by examining trading volume while SATA is at or above its $100 stated value.
It then estimates net proceeds after sales commissions and divides that amount by Bitcoin’s price during the session. The tracker’s figure is therefore an estimate of potential buying power; Strive’s next disclosure would establish any actual purchase and its cost.
Strive’s SATA sales are estimated at $85.88 million For Sep. 21, the tracker estimates that Strive sold about 284,000 SATA shares and received $27.69 million in net proceeds. At an average Bitcoin price of $86,001, that sum would cover approximately 321.97 BTC.
The largest of the three estimated sessions came on Sep. 22. BitcoinTreasuries.net puts net proceeds at $36.08 million from roughly 370,000 shares, equivalent to about 418.27 BTC at an average price of $86,266.
On Sep. 23, estimated sales of another 226,700 shares produced $22.11 million. The tracker calculates that the proceeds could buy 261.43 BTC at an average price of $84,556. Together, the three daily estimates come to $85.88 million and 1,001.67 BTC.
Those daily share counts are estimates of issuance through the program, rather than a count confirmed in a new company filing. BitcoinTreasuries.net says it calibrates its model against Strive’s subsequent disclosures. Its method also separates potential SATA issuance from ordinary trading between investors, which does not send money to Strive.
The distinction matters because proceeds raised on a given day need not pay for a Bitcoin trade on that same day. Strive also holds cash and can use more than one source of funding. An estimated BTC equivalent should not be added to the company’s reported holdings before Strive discloses a purchase.
Strive’s last filing put its treasury at 26,355 BTC Strive’s most recent reported acquisition covered Sep. 14 through Sep. 18, when it bought 1,355 BTC for approximately $107.7 million at an average of $79,475 per coin. The purchase lifted its disclosed balance from 25,000 BTC to 26,355 BTC. At the time, its SATA shares outstanding increased by 786,194, while cash and equivalents rose to approximately $229.6 million.
Chief Executive Matt Cole described how Strive raised capital during that reporting period. “Warrant exercises began last week, generating $21.2M in gross proceeds,” he wrote on X. “Including those proceeds, 57.7% of total capital raised came from SATA proceeds.”
The company had reached 25,000 BTC a week earlier after acquiring 469 BTC for approximately $36.6 million. Strive said proceeds from SATA funded that purchase. Its Sep. 14 filing also showed that SATA shares outstanding rose by 402,541 during the period, while its effective common share count increased by 34,206.
Earlier in September, Strive added 1,375 BTC for approximately $109 million. That purchase took its balance to 24,531 BTC, following an acquisition of 1,800 BTC in late August. The successive company filings show completed purchases; the Sep. 21–23 tracker readings concern a later period for which the supplied figures remain estimates.
Strategy bought Bitcoin while repurchasing STRC Strategy, the largest public corporate Bitcoin holder, disclosed a different use of its cash in the week ended Sep. 20. According to its SEC filing, it bought 950 BTC for $75.7 million at an average price of $79,670, taking its holdings to 846,000 BTC. Strategy reported an aggregate acquisition cost of about $63.8 billion, or $75,416 per coin.
During the same week, Strategy spent $174 million repurchasing approximately 1.77 million shares of its STRC preferred stock. As crypto.news reported on Sep. 21, Strategy made no sales through its at-the-market programs for that period. It paid for both the Bitcoin and the STRC repurchases from existing USD Cash, which fell from roughly $1.30 billion to $1.05 billion.
A week without new STRC issuance does not establish that Strategy can no longer raise money through its securities programs. Its earlier filing showed that it sold MSTR common shares at the end of August and directed $369.7 million of the proceeds toward 4,603 BTC. The Sep. 20 filing establishes only how Strategy financed its latest reported transactions.
Strive also owns Strategy’s preferred stock. Its filings showed a holding of 505,000 STRC shares through Sep. 18, valued at approximately $49.7 million on that date. Strive’s own preferred shares, SATA, carried a 13% annualized dividend rate for September, compared with 12% for STRC, according to the companies’ disclosures reviewed in earlier preferred-stock coverage.
U.S. investors can check the next SEC disclosures Both Strive’s ASST common shares and SATA preferred shares trade on Nasdaq, according to its SEC filing. The securities give U.S. investors different claims on the same company: common shareholders own equity, while SATA holders have the preferred rights set out in its terms. Strive reports changes in its Bitcoin balance, cash, and outstanding share counts in its filings.
The next Strive filing can establish whether the company bought Bitcoin after Sep. 18 and how many SATA shares were outstanding at the end of the new reporting period. Its last filing also recorded 505,000 STRC shares held and $229.6 million in cash and equivalents as of Sep. 18.
