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Wintermute said clear SEC guidance would keep US markets competitive, foster regulator dialogue and support innovation in digital assets. Trading company and market maker Wintermute asked the United States Securities and Exchange Commission (SEC) to confirm that network tokens should not be classified as securities. In formal feedback to the agency’s request for comment, the company said clear guidance on the security status of tokens is necessary to avoid the misapplication of securities laws and ensure the continued growth of crypto markets. Wintermute said that “network tokens,” which are “intrinsically connected to the functioning of a decentralized network or protocol,” are necessary technical inputs for blockchain networks. Because of this, the company said, they fundamentally differ from financial products or securities. Read more
Japan’s Financial Services Agency proposed moving crypto oversight from the Payment Services Act to the stricter Financial Instruments and Exchange Act. Japan’s Financial Services Agency (FSA) presented a proposal that would significantly tighten crypto regulation. A Tuesday FSA report recommends regulating cryptocurrencies under the Financial Instruments and Exchange Act (FIEA), moving them from under the Payment Services Act. This aims to strengthen investor protection and align crypto oversight with securities regulation. The regulator said that many issues within crypto resemble those traditionally addressed under the FIEA, so it may be appropriate to apply similar mechanisms and enforcement. Read more
Bitcoin financial services firm River says private businesses have accumulated 84,000 Bitcoin in 2025 amid a year of regulatory clarity and a strong bull market. Bitcoin financial services firm River said its business clients are reinvesting an average of 22% of profits into Bitcoin, signaling growing grassroots adoption. Of River’s client base, real estate firms have been the biggest adopters with nearly 15% reinvesting profits into Bitcoin (BTC), while hospitality, finance and software sectors are allocating between 8% and 10%, River research analyst Sam Baker said in a report on Wednesday. Even fitness studios, painting and roofing companies and religious nonprofits are among the adopters. Read more
Despite $300 million in spot ETH ETF outflows, healthy derivatives and institutional investor activity keep Ether’s $5,000 path intact. Key takeaways: $300 million outflows from US-listed Ethereum ETFs represent just 1.3% of assets under management. Derivatives positioning and stable long-to-short ratios suggest strong $4,300 support despite leveraged long liquidations. Read more
Anchorage Digital has added custody and staking for Starknet’s STRK token, expanding the token's utility for institutional investors in the US. Anchorage Digital, a chartered crypto bank in the United States, has launched custody and staking support for Starknet’s native token, STRK, seeking to address investors’ appetite for yield generation on digital assets. According to a Wednesday announcement, staked STRK currently yields an annual percentage rate (APR) of 7.28%. Anchorage, offering STRK custodian services since January, is expanding the token’s utility. “Anchorage Digital has a long-standing relationship with Starknet and now is opening the door to institutional custody and staking of STRK,” the company said in a statement. Read more
The Bitcoin miners grew BTC output in August while expanding their operational hash rates more than 100% year-over-year. Bitcoin miners Riot Platforms and CleanSpark boosted their crypto production in August, according to operational updates on Wednesday. Riot Platforms mined 477 BTC in August, up from 322 BTC year-over-year. The output represents a 48% increase compared to August 2024. According to the company, it sold 450 BTC for net proceeds of $51.8 billion during the month, and now holds 19,309 BTC, a 92.7% increase in 12 months. Meanwhile, CleanSpark mined 657 BTC in August, up from 478 BTC during the same month in 2024. The jump amounts to a year-over-year increase of 37.5%. The company sold 533.5 BTC for $60.7 million last month. Read more
Amid the US set to implement a stablecoin framework after passage of the GENIUS Act, EU officials are looking at the implications of foreign-issued stablecoins. Christine Lagarde, president of the European Central Bank (ECB), is calling for policymakers to address gaps in stablecoin regulation, particularly for those issued beyond the “robust” Markets in Crypto-Assets (MiCA) framework in the European Union. In prepared remarks for the ninth annual conference of the European Systemic Risk Board on Wednesday, Lagarde said EU lawmakers should take steps in situations where an entity covered under MiCA and a non-EU entity jointly issue stablecoins. She added that such stablecoin issuers should not be allowed to operate in the EU unless there were “robust equivalence regimes” at the source, which included allowing EU investors “to always redeem their holdings at par value” and requiring issuers to fully back their coins. Read more
Ether supply on centralized exchanges has plunged around 38% since 2022, as billions flow into spot ETFs and corporate treasuries ramp up their ETH holdings. Ether reserves on centralized exchanges have fallen to the lowest level in three years as demand grows from investment funds and corporate buyers. According to data from CryptoQuant, reserves have dropped by nearly 10.7 million ETH since peaking at around 28.8 million in September 2022. Holdings now stand at about 17.4 million ETH, with roughly 2.5 million ETH leaving exchanges in the past three months alone. The shrinking supply comes as new channels for Ether exposure have gained traction. Spot ETH exchange-traded funds (ETFs), launched in July 2024, have since attracted net inflows of more than $13 billion, according to CoinGlass data. Between June and August, the funds pulled in over $10 billion in net inflows, led by a record $5.4 billion in July alone. Read more
While Fed Governor Lisa Cook attempts to argue against her dismissal in court, the central bank said it will hold an October event to address innovation in payments. The US Federal Reserve Board has scheduled a conference to discuss topics related to payments, including stablecoins and tokenization. In a Wednesday notice, the Fed said the Oct. 21 conference would address “emerging stablecoin use cases and business models” as well as “tokenization of financial products and services” as part of efforts to innovate US payments systems. Though the announcement came from the entire Fed board, Governor Christopher Waller, rather than Chair Jerome Powell, provided comments on the event. Read more
ETH rallied closer to $4,500, but muted futures activity and a unique technical setup have traders unsure about whether the rally is sustainable. Key takeaways: Ether rallied near $4,500 after sweeping liquidity around $4,200. Spot demand fueled the rally, while futures participation stayed muted. Read more
The draft law passed its first reading with 246 votes and proposes an 18% income tax, 5% military tax, along with a temporary 5% rate on fiat conversions in its first year. The Verkhovna Rada, Ukraine’s parliament, passed the first reading of a bill to legalize and tax cryptocurrency on Wednesday, according to lawmaker Yaroslav Zhelezniak. If signed into law, the bill would significantly shape the digital asset economy in the country, which ranks among the world's top in crypto adoption. According to Zhelezniak’s announcement on a Telegram channel, the bill passed the first reading with 246 lawmakers voting in support. The legislation's draft outlines an income tax of 18% and a military tax of 5% on digital asset profits. The bill also sets a preferential 5% tax rate on fiat conversions its first year, according to the announcement. The proposed taxation rate of 23% is in line with the April recommendation of Ukraine’s financial regulator. The initial recommendation exempted crypto-to-crypto and stablecoins t...
Illiquid supply, falling exchange reserves and accumulation from whales could send ETH price to $5,500. Key takeaways: More than 70% of the Ether supply is staked, underpinning a longer-term bullish environment. Ether whales added more than 411,000 ETH in August. Read more
Trading of ABTC was halted five times on Wednesday amid heightened price volatility, with the share pricing surging by 85% intraday. The Nasdaq stock exchange halted trading of American Bitcoin (ABTC) shares five times Wednesday as volatility spiked on the stock’s relisting debut. Shares of ABTC, a Bitcoin (BTC) mining company co-founded by Eric Trump and Donald Trump, Jr., climbed by nearly 85%, hitting a high of $14 per share during intraday trading, following American Bitcoin’s stock merger with Gryphon Digital Mining, another crypto mining company. ABTC trading was first halted at 3:09:35 UTC for 10 minutes and again at 3:20:11 UTC, with two additional halts at 3:30:54 and 3:40:12. Read more
Bitcoin bulls are trying to get back into the driver’s seat by pushing the price above $112,500. Will altcoins follow? Key points: Bitcoin made a strong comeback, confirming that dip buyers were present at lower levels; higher levels could continue to attract sellers. Select altcoins have bounced off their respective support levels, indicating a positive sentiment. Read more
The Commodity Futures Trading Commission issued a no-action letter to a crypto derivatives exchange and clearinghouse acquired by Polymarket after a July request for relief. The US Commodity Futures Trading Commission (CFTC) said it will not pursue enforcement against two entities tied to prediction platform Polymarket. In a Wednesday notice, the CFTC said it had issued a no-action letter “regarding swap data reporting and recordkeeping regulations for event contracts” with QCX LLC and QC Clearing LLC. “The divisions will not recommend the CFTC initiate an enforcement action against either entity or their participants for failure to comply with certain swap-related recordkeeping requirements and for failure to report to swap data repositories data associated with binary option transactions and variable payout contract transactions […],” said the regulator. Read more
Bitcoin extends a relief bounce to liquidate shorts as analysis praises its macro hedge status ahead of a presumed Fed interest-rate cut. Key points: Bitcoin returns to $112,000 as bulls stage a key resistance retest. BTC price action preserves the “bull market support channel” in a classic dip to support. Read more
Solana open interest hit a record high above $13 billion as the technical setup suggests the rally could continue for SOL price to reach $1,000. Key takeaways: Bullish technicals suggest that SOL price can reach $1,000 if the resistance between $210-$250 is broken. Solana’s open interest has rallied to a record high of $13 billion, signaling high speculative interest. Read more
PayPal now supports crypto payments with 100+ coins and PYUSD. Here’s how it works for users and merchants in 2025. Pay with Crypto is PayPal’s blockchain-based settlement feature for US merchants. It allows payments in over 100 cryptocurrencies, including Bitcoin (BTC), Ether (ETH), Solana (SOL), USDC (USDC), Tether’s USDt (USDT), XRP (XRP), BNB (BNB) and others. Consumers can pay in crypto, while merchants receive either US dollars or PayPal USD (PYUSD), PayPal’s dollar-pegged stablecoin. The automatic crypto-to-fiat conversion on PayPal ensures no exposure to price volatility, thereby offering a familiar settlement process akin to a traditional payout. Read more
Galaxy Digital CEO Mike Novogratz predicted that AI agents will soon be the biggest users of stablecoins, driving an explosion in stablecoin transactions. Galaxy Digital CEO Mike Novogratz said that AI agents will soon become the top users of stablecoins. During an interview with Bloomberg published on Wednesday, Novogratz said that “in the not-so-distant future, the biggest user of stablecoins is going to be AI.” He said he expects users will be able to ask an AI to buy their groceries, and have it independently engage in the necessary transactions: AI agents are autonomous software programs that can perceive their environment, make decisions, and take actions to achieve goals without constant human intervention. The primary feature that distinguishes these systems from most current AI systems is their higher degree of independence. Read more
US Bancorp resumed digital asset custody services for institutional clients following the SEC rule rollback under the Trump administration. US Bancorp has reentered the crypto space by relaunching its digital asset custody services aimed at institutional investment managers. US Bancorp’s reentry follows a regulatory shift under President Donald Trump’s current administration, which rolled back a previous SEC rule that had forced banks to hold capital on their balance sheet for crypto-related activities, according to a Wednesday report by Bloomberg. “We had the playbook and it’s sort of opening it up and executing it again,” said Stephen Philipson, head of US Bank’s institutional division. He noted that the bank plans to scale the service as demand grows and is also exploring how digital assets might fit into other areas like wealth management and consumer payments. Read more8077 items