The distribution marks the third payout to creditors of the former exchange as it continues dispensing up to $16.5 billion in funds. The FTX Recovery Trust, the entity overseeing the distribution of funds from the bankrupt crypto exchange, announced a third tranche of distributions to creditors, worth about $1.6 billion. According to a Friday announcement, the distribution is scheduled for Sept. 30, and creditors should receive the funds in their accounts within three business days of the payment date. The third distribution includes a 6% payout for Dotcom Customer claims, a 40% distribution for US Customer Entitlement Claims and a 24% distribution for General Unsecured Claims and Digital Asset Loan Claims. Convenience claims will receive a 120% reimbursement as part of September’s payout. Read more
The bill to establish rules for payment stablecoins was signed into law by US President Donald Trump in July and awaits final regulations before implementation. The US Department of the Treasury on Thursday opened a second period of public comment on the implementation of the GENIUS Act, legislation aimed at regulating stablecoin payments in the US that was signed into law by US President Donald Trump. In a Thursday notice, the Treasury said that, though the advance notice of proposed rulemaking was not required to implement the GENIUS Act, it invited the public to comment on the stablecoin law, saying it would build upon its work. The Treasury officially opened up comment in August, giving the public until Oct. 17 to submit concerns or feedback related to illicit activity. The Thursday notice provides a 31-day window for comments. Read more
Uniswap, Aptos, BNY, Chainlink, JP Morgan and Franklin Templeton executives join CFTC’s Digital Asset Markets Subcommittee under Acting Chair Pham. The Commodity Futures Trading Commission (CFTC) has appointed new members to its Global Markets Advisory Committee (GMAC) and subcommittees, adding several crypto industry leaders to the Digital Asset Markets Subcommittee (DAMS) — a move that underscores the regulator’s continued engagement with the sector. CFTC Acting Chair Caroline D. Pham named four new DAMS members: Katherine Minarik, chief legal officer at Uniswap Labs; Avery Ching, co-founder and chief technology officer of Aptos Labs; James J. Hill, managing director and head of structure innovation at BNY; and Ben Sherwin, general counsel at Chainlink Labs. In addition, Scott Lucas, head of digital assets at JPMorgan, was appointed co-chair of DAMS alongside Sandy Kaul, executive vice president at Franklin Templeton. They succeed Caroline Butler, who previously served as co-chair. Read more
PayPal launches P2P crypto links, Google tests AI payments, miners pivot to data centers and Bitwise eyes stablecoin ETF. Crypto’s center of gravity is shifting from speculation to services. PayPal is opening the door to peer-to-peer (P2P) cryptocurrency transfers, building on its growing presence in digital assets. Its stablecoin, PYUSD, has already surpassed $1 billion in market capitalization. Google is piloting a payment protocol designed for AI agents, with built-in support for stablecoins — highlighting the role dollar-pegged crypto could play in the emerging web economy. Meanwhile, Bitcoin miners face tighter margins from rising costs, higher difficulty levels and growing competition. Yet several companies are thriving by pivoting into data-center and AI infrastructure, sending their share prices sharply higher in recent weeks. Read more