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Breaking News
CFTC Proposes Crypto Regulations Following Clarity Act Failure
The Commodity Futures Trading Commission unveiled its first formal proposal for digital asset oversight after Congress failed to pass comprehensive legislation, with Chairman Michael Selig presenting the initiative at Fordham Law's annual blockchain event.
SEC Approves First-ever 3x Leveraged Bitcoin and Ethereum ETFs
The SEC cleared the way for triple-leveraged BTC and ETH exchange-traded funds, marking a significant expansion in crypto investment products available to retail investors.
Sui Network Clocks Over 40 Million TPS in Live Singapore Basecamp Stress Test
Sui recorded 40,614,180 transactions per second during a live stress test at Sui Basecamp in Singapore on October 7, with the result independently verified by CertiK.
Lazarus Linked to Massive Chinese Crypto Laundering Network
Blockchain investigator ZachXBT exposed a Chinese organized crime syndicate that allegedly laundered more than $1 billion in stolen cryptocurrency on behalf of North Korea's Lazarus Group, drawing on months of undercover work and cross-chain analysis.
The Big Story
Tether is pushing tokenization in Kazakhstan
Tether signed a Memorandum of Understanding with the National Bank of Kazakhstan and the Alatau City Authority, marking a significant step in the country's push to build a sovereign digital financial infrastructure. The agreement positions Tether as a technology partner in Kazakhstan's move toward state-backed stablecoin issuance and tokenized asset development. The partnership is part of a broader push by the Central Asian nation to establish itself as a regional blockchain hub, building on earlier crypto mining investments and regulatory framework development. If executed, the collaboration could produce one of the first state-backed stablecoin projects tied to a national currency in the former Soviet space. The National Bank's involvement signals institutional buy-in at the highest level of Kazakhstan's monetary authority.
Top Stories
OKX Draws Ripple And Circle Backing
OKX closed a strategic investment round backed by Ripple, Circle, quantitative investment manager Qube Research and Technologies, and Standard Chartered's SC Ventures. The round extended a March financing in which Intercontinental Exchange invested roughly $200 million at the same $25 billion valuation. The move brings together some of the most prominent names in both traditional finance and digital assets, positioning OKX at the intersection of institutional capital flows and crypto infrastructure.
U.S. Treasury may have just ended the crypto controversy
The U.S. Department of the Treasury and FinCEN formally withdrew two proposed rulemakings that had drawn fierce opposition from the crypto industry. The move closes a chapter dating back to 2020, when regulators first floated rules to extend Bank Secrecy Act obligations to unhosted wallet transactions. The withdrawal removes a persistent source of regulatory uncertainty and litigation risk that had hung over the industry for years.
Coinbase Brings Pro Back as Deribit Integration Goes Live
Coinbase confirmed it will relaunch Coinbase Pro before the end of 2026, bringing back the professional trading brand more than two years after it was retired. This time, the platform sits inside Coinbase Global Exchange, an international trading hub that now includes spot, derivatives, and options across crypto and traditional assets. The relaunch comes as Deribit integration goes live, giving Coinbase users access to one of the world's largest crypto options and futures venues.
Deep Dive of the Week
Who Actually Uses the Internet Computer? A Look At The ICP Community
Internet Computer (ICP) is used by everyday crypto users, builders, and public bodies. Retail users chat, trade, hold tokens, and stake on it, while developers and nonprofits build dapps that run entirely onchain, from social networks to DeFi protocols. This deep dive breaks down who is actually building and using ICP, from individual contributors to institutions exploring Web3 infrastructure that operates without traditional cloud providers.
By the Numbers
40,614,180 TPS: Sui's verified peak throughput during its Singapore stress test, setting a new benchmark for blockchain transaction speed.
$25 billion: OKX's valuation in its latest strategic funding round, backed by Ripple, Circle, and Standard Chartered Ventures.
$1 billion+: The amount of stolen cryptocurrency allegedly laundered by a Chinese organized crime syndicate on behalf of North Korea's Lazarus Group, according to ZachXBT's investigation.
3x leverage: The multiplier available in the SEC's newly approved leveraged Bitcoin and Ethereum ETF products, opening high-risk exposure to retail investors.
93% chance: Polymarket odds earlier this year that an XRP ETF would receive SEC approval by the end of 2025, reflecting growing institutional confidence in altcoin product approvals.
$103 million: Combined value of Bitcoin and BNB moved by U.S. government-linked wallets to Coinbase within a nine-hour window on October 7.
On Our Radar
CFTC identifies six digital commodities: The agency publicly named Bitcoin, Ethereum, Litecoin, Bitcoin Cash, XRP, and Stellar as digital commodities under its joint taxonomy with the SEC, removing years of legal uncertainty for widely traded assets.
Robinhood adds $25M BTC to balance sheet: The trading platform placed $25 million in Bitcoin onto its corporate treasury, marking its first move into holding the asset as a company rather than solely for customer custody.
Cardano launches CIP-0113 token standard: The Cardano Foundation rolled out a new programmable token standard on mainnet at TOKEN2049 in Singapore, following extensive community development and multiple independent security audits.
Ethereum activates Glamsterdam upgrade on Sepolia: Ethereum's most consequential 2026 upgrade went live on the Sepolia testnet on October 6, putting a broad package of protocol changes through final rehearsals before a planned mainnet deployment, including a dramatic increase in gas capacity.
Until Friday.