The SEC on 2 October approved a Cboe rule change that lets Volatility Shares list 3x bitcoin and ether funds. They cannot trade until their registration takes effect. An amended filing on Wednesday kept a 1.98 per cent breakeven for the bitcoin fund.
New York's attorney general announced up to $35m from Celsius's former chief executive and a permanent industry ban. The consent order shows the money falls due only if he fails to pay $10m to federal prosecutors or his prison sentence is cut.
Thailand has finalised rules for bitcoin and ether ETFs on its stock exchange, starting on 16 October. The design keeps Thai savers at home, keeps leverage out and gives local funds a domestic product to buy, as the number of active crypto traders falls.
This week's headlines say US regulators have declared bitcoin, ether and XRP not securities. They did, on 17 March, in a Commission interpretation that names them among its digital commodities and says an investment contract can end. Almost everything the SEC has done on crypto since rests on it, and a future commission could withdraw it without a rulemaking.
Robinhood has put $25m of bitcoin on its own balance sheet. Its executive called the sum small for a $100bn company, and it is a sliver of the bitcoin that on-chain analysts attribute to its customers.
The CFTC cannot make crypto exchanges register with it. Its first crypto plan works through one word instead: on its preliminary reading, an exchange that offers customers leverage would bring even their fully paid trades under federal rules, until the coins leave for a wallet the customer controls.
Drift's April hack victims can now trade their losses as a token. Burned for cash, each dollar lost returns just over a cent. In the market it fetches about 3.7 cents. Buyers are paying for money that has not arrived, most of it promised by Tether and tied to an exchange that has so far paid 38 USDT into the pool.
Blast, the Ethereum layer 2 that drew more than $2bn before it launched, is shutting down because running it costs more than it earns. Its users paid $3.66m in fees in June 2024. In August this year they paid $1,061.
Open USD went live on Wednesday on four blockchains, with five founding partners holding equal stakes. By Thursday morning its issuer reported 468 million tokens in circulation. This desk read each chain's ledger: 425 million of them are on Tempo, the payments chain Stripe backs. Stripe also owns the issuer.
The dollar cost more than 2.5 million rials in Tehran's open market on Tuesday, a record. The central bank's rate for exchange offices is 1.71 million. That official price is now weaker than the street price was the week before the war began, and the street has moved another 49 per cent beyond it.
On Sunday the SEC's corporate finance staff edited one answer in the crypto FAQs they had published on Thursday, adding the words "and has no central party". Under the Commission's own definitions, that moves the safe ground for a token buyback from a network that works to a network nobody controls.
Bitget says the $387.5m taken from its hot wallets falls within its user protection fund, and withdrawals began reopening on Monday. The fund is 5,500 bitcoin, not dollars. Below $70,455 it no longer covers the loss, and bitcoin closed below that on 126 of this year's 270 days, most recently on 19 August.
Bitcoin traded below $83,000 on Thursday as the ten-year Treasury settled at 5.18 per cent, its highest since 2007. The fund flows that had just erased the year's outflows arrived at $28m, down from $999m on Monday. Gold fell as well, and that is the part which explains the rest.
Crypto coverage says the SEC has cut its altcoin ETF review to 75 days for Solana, XRP and Dogecoin, with a deadline falling on 27 September. The funds have traded for the better part of a year, the number appears in no Commission document, and the deadline was extended to 11 November three days ago.
Draft rules from the central bank would hold every bank's total crypto exposure to a hundredth of its capital, and weight what remains at 1,250%.
Three venues filed on the same day to offer contracts on Tesla and Nvidia that never expire. The instrument was built offshore for crypto; it is now asking to be domesticated.
The Senate would not open debate on crypto market structure. The bill failed over who gets to police a president's profits, not over the rules for the market.
The headline is a $10 exemption for network fees. The substance is a loophole that has been open since 1921 finally closing around digital assets.
Prosecutors want to seize $61m from two Binance accounts. The figure they put in the press release, describing the wider network, is twenty-five times larger.
S&P Global led $110m into Kaiko, with Nasdaq, Broadridge, BNP Paribas, RBC and two trading firms alongside it. A round with that many competitors in it is closer to a standards committee than an investment.
Applications for the new crypto regime run from September 30 to February 28. Miss the window and a firm is outside a regime that begins in October 2027.
A 630-page Senate revision would pull centrally controlled trading protocols into CFTC registration, defining the category by who can change the rules rather than by what the software does.
A foreign board of trade registration lets American institutions trade Singapore's bitcoin and ether perpetuals directly, without a US listing or a new venue.
VisaNet settlement records are being wired into onchain credit facilities, so a card programme's receivables can be underwritten while they are still in flight.
Regulation Crypto Assets would create two registration exemptions and a conditional safe harbour from the phrase that has governed the market since 2017: investment contract.
A proposed rule implements section 3 of the GENIUS Act, the part that says who is prohibited from issuing, offering and selling payment stablecoins in the United States.
Scaling networks were measured by activity. They are now measured by sequencer revenue, and most of it accrues to a very small number of them.
The largest category of tokenised real-world assets is not Treasuries or funds. It is loans, and it is the hardest one to verify.
Faster listing standards produced a wave of single-asset crypto funds. Most of them will not gather enough money to justify staying open.
The rule compels nobody to hold anything. It removes a litigation risk that was quietly deciding what ordinary savers were permitted to own.
A safe harbour that protects the fiduciary and not the saver is not prudence. It is paperwork with someone else's retirement attached.
Far more notional value now trades in crypto futures and options than in the coins themselves, which changes what moves the price.
A proposed rule would give plan fiduciaries a process to follow rather than a warning to heed. It does not require anyone to offer anything.
The regulator has said the securities laws apply regardless of where ownership is recorded. That answer is what let the infrastructure get built.
Digital assets are increasingly handled by the same committees, custodians, and risk limits that govern every other allocation, and volatility is priced rather than debated.
The trading firms that dominate equities and futures now anchor crypto liquidity, bringing tighter spreads and familiar market dynamics with them.
Curtailment contracts and demand response are turning bitcoin mining's flexibility into a second business selling stability to utilities.
Market structure and stablecoin frameworks are in place across major economies, and the industry's complaint has shifted from uncertainty to cost.
Instruments that blur loyalty program, equity proxy, and fee discount are being forced into defined categories, with restructurings to match.
Regulated event contracts are pitching themselves to corporates and funds as insurance against outcomes traditional derivatives ignore.
Speculative token manias continue on schedule; the notable change is how completely regulated crypto now walls itself off from them.