befla

Bitcoin’s $87,000 rally just flipped from short squeeze to long risk

by
Bitcoin’s $87,000 rally just flipped from short squeeze to long risk
Bitcoin’s newly confirmed bull market is already showing signs that the rally powering it may be losing momentum. Last week, the top digital asset climbed to an eight-month high near $87,400 after reclaiming a long-term technical threshold that CryptoQuant says marked the start of a fresh bullish phase. Its Bitcoin Bull Score Index has since … Read more

A $7 billion crypto ETF plumbing boom just ran into the IRS

by
A $7 billion crypto ETF plumbing boom just ran into the IRS
The Internal Revenue Service (IRS) is scrutinizing a crypto-linked ETF tax strategy as Washington intensifies its campaign against structures designed to avoid taxable gains. The Treasury Department and IRS identified digital assets as one area where fund managers may be stretching tax provisions beyond their intended purpose, opening the door to additional rules or enforcement. … Read more

Coinbase just completed its US derivatives stack but its biggest bet still sits outside it

by
Coinbase just completed its US derivatives stack but its biggest bet still sits outside it
Coinbase, the largest US-based crypto exchange, has secured Commodity Futures Trading Commission (CFTC) approval for its own derivatives clearinghouse, completing a vertically integrated US trading stack. On Sept. 28, the CFTC registered Coinbase Clearing LLC as a derivatives clearing organization, authorizing it to clear fully collateralized futures, options on futures, and swaps. The approval gives … Read more

Sentora split 50% Aave revenue, but suppliers absorb all losses

by
Sentora split 50% Aave revenue, but suppliers absorb all losses
Aave DAO would own the contracts for a proposed Ethereum lending market, but Sentora would make the day-to-day decisions that shape its credit risk. In a governance proposal posted Sept. 28, the DeFi risk manager asks to operate an isolated Aave V4 Hub and its lending Spokes through revocable roles. The split puts an immediate … Read more

Fed guarantees 2-day stablecoin payouts, but $76B remains blocked

by
Fed guarantees 2-day stablecoin payouts, but $76B remains blocked
The Federal Reserve’s stablecoin proposal would put a general two-business-day limit on redemption by issuers it supervises. For a customer holding stablecoins at an exchange, the first step is getting that venue to release or convert the balance. In a July 28 snapshot, researchers located $76 billion of stablecoins at centralized exchanges, where a customer … Read more

Chainlink CCIP 2.0 exposes bridge risk, and issuer gates trigger stalls

by
Chainlink CCIP 2.0 exposes bridge risk, and issuer gates trigger stalls
Chainlink’s CCIP 2.0 lets a token issuer require an additional verifier before tokens finish moving from one blockchain to another. A sending pool may already have locked or burned the tokens when that check becomes decisive: without the verifier’s attestation, the receiving chain cannot release or mint them. Announced on Sept. 28, the feature adds … Read more

Strategy makes first back-to-back Bitcoin buys since June as accumulation picks up

by
Strategy makes first back-to-back Bitcoin buys since June as accumulation picks up
Michael Saylor-led Strategy (formerly MicroStrategy) has made back-to-back weekly Bitcoin purchases for the first time since June, rebuilding its holdings after selling some of the cryptocurrency earlier this quarter. On Sept. 28, the company said it acquired 1,665 Bitcoin for $142.7 million during the week ended Sept. 27, paying an average of $85,681 per token. That followed … Read more

Robinhood Chain’s $1.5 billion boom is attracting memecoin rug factories

by
Robinhood Chain’s $1.5 billion boom is attracting memecoin rug factories
A second suspected memecoin rug factory has surfaced on Robinhood Chain as the fast-growing network attracts increasingly coordinated scam activity. On Sept. 28, blockchain security firm GoPlus said it identified a high-risk operation behind hundreds of memecoins that routed more than $9 million through a common fund-consolidation network over the past 30 days. The operation … Read more