CME Group CEO Terry Duffy called for a level playing field, opposing the granting of innovation exemptions to new market entrants like Polymarket CEO Shayne Coplan and Kalshi co-founder Tarek Mansour. He stated that if the rules were different, established players wouldn't be able to compete. The Chicago Board Options Exchange (@CBOE) echoed this sentiment: "I appreciate the innovation, but if there's an opportunity to be more successful, we should all pursue it. We'll all be great competitors, we'll all be great innovators. But we shouldn't be locked into the old model."
Wisconsin introduces AB471, a "Bitcoin Rights" bill
According to Bitcoin Laws, on September 29, Wisconsin proposed the "Bitcoin Rights" bill AB471, which intends to exempt individuals and businesses from the money transmission business license requirements for the following behaviors: accepting payments, using self-hosted wallets, running nodes, developing software, and participating in staking.
U.S. Immigration and Customs Enforcement raids Texas Bitcoin mine, takes away several employees
According to Blockspace, anonymous sources indicate that U.S. Immigration and Customs Enforcement (ICE) raided the Lonestar Dream Bitcoin mining facility in Pyote, Texas, on Monday. The raid targeted an application-specific integrated circuit (ASIC) repair center operated by Bitmain affiliate ADW Tech. Several government officials, including agents from ICE, the Federal Bureau of Investigation (FBI), Homeland Security Investigations (HSI), the Texas Department of Public Safety (DPS), and U.S. Customs and Border Protection (CBP), arrived at the facility. After several individuals failed to produce valid identification, officers removed 12 to 13 employees from the site, including several foreign nationals whose visas had expired. Pyote, and West Texas in general, is a popular destination for Bitcoin miners. In late 2024, U.S. Customs and Border Protection (CBP) began sporadically seizing and confiscating imported ASIC mining machines at ports of entry. In some cases, CBP detained the hardware for months, charging the affected companies storage fees without providing clear reasons for flagging and detaining the ASICs. CBP continued to detain certain shipments after Trump took office and did not begin releasing the detained hardware until the end of the first quarter and early second quarter of 2025.
Phala Network plans to stop parachain and migrate to Ethereum L2
Phala Network, a decentralized off-chain computing infrastructure, stated in a statement that since Phala's Polkadot parachain slot will expire on November 20, 2025, it has submitted a proposal to stop the parachain and migrate completely to Ethereum L2 to align with Intel's roadmap (TDX+GPU confidential computing) and the broader EVM ecosystem.
According to Onchain Lens monitoring, two newly created wallets received a total of 30,354 ETH from FalconX and OKX, worth $127.95 million.
According to Jinshi, the Federal Reserve's Musallem said that the U.S. Office of the Comptroller of the Currency is expected to supervise non-bank stablecoin issuers, and well-regulated stablecoins do not pose significant risks.
US SEC suspends trading in digital asset treasury firms QMMM and Smart Digital
According to Bloomberg, the U.S. Securities and Exchange Commission (SEC) has suspended trading in the shares of QMMM Holdings Ltd. after the company's stock price soared nearly 1,000% in less than three weeks. The SEC said on Monday that recommendations to buy QMMM shares posted on social media by "unidentified persons" may have manipulated its stock price. Since QMMM announced earlier this month that it would establish a "diversified cryptocurrency treasury" with an initial scale of US$100 million and target investments in Bitcoin, Ethereum and Solana, its stock price has soared 959%. The SEC said the suspension of trading is a temporary measure and will end at 11:59 pm Eastern Time on October 10.
According to on-chain analyst Ember, a new address withdrew 25,369 ETH (US$107 million) from FalconX two hours ago. Judging from the way ETH is hoarded, this address should belong to Bitmine.
Türkiye plans to allow regulators to freeze bank and cryptocurrency accounts
Turkey is preparing to give its financial crime regulator, the Financial Crimes Investigation Agency (Masak), greater powers to freeze and restrict access to bank and cryptocurrency accounts as part of its fight against money laundering and financial crime, according to Bloomberg. The proposed measures, which align with anti-money laundering standards set by the Financial Action Task Force (FATF), are expected to be implemented through a bill submitted to parliament, according to people familiar with the matter. If approved, the new regulations would give Masak the power to close accounts suspected of illegal use, impose transaction limits, suspend mobile banking accounts, and blacklist cryptocurrency addresses linked to crime. The bill, still under draft, primarily targets the practice of "renting" accounts, where criminals pay to use someone else's account for illegal gambling and fraud. These changes are expected to be included in the 11th judicial package and submitted for review in the new legislative year. The regulations may be revised and may not necessarily be passed in their current form.
According to Bloomberg, BlackRock's iShares Bitcoin Trust has surpassed Coinbase's Deribit to become the largest trading venue for Bitcoin options. Following last Friday's contract expiration, open interest in options related to the Nasdaq-listed IBIT reached nearly $38 billion, compared to $32 billion on Deribit. Founded in 2016, Deribit has dominated the Bitcoin options market for years. This highlights a structural shift in the crypto market, from a hub for leveraged derivatives trading to a regulated core of the U.S. financial system. IBIT currently manages $84 billion in assets, making it the world's largest Bitcoin ETF. The rapid growth of its options business is creating a virtuous cycle: increased liquidity enhances its legitimacy, which in turn attracts further capital inflows.
DoubleZero announced on the X platform that the U.S. Securities and Exchange Commission (SEC) has issued a no-action letter to DoubleZero regarding 2Z. This letter indicates that 2Z does not need to be registered as a class of "equity security," and that the programmatic flow of 2Z on the DoubleZero network does not constitute securities trading. The no-action letter indicates that the SEC's Division of Corporation Finance has reviewed the programmatic distribution of the 2Z token and concluded that, based on the facts presented, the Division will not recommend enforcement action to the Commission. For the DoubleZero project and its stakeholders, this letter means that the SEC will not recommend enforcement action regarding the flow of 2Z tokens within the DoubleZero network.
According to The Block, on Monday, Acting Chair of the U.S. Commodity Futures Trading Commission (CFTC) Caroline Pham declared the "turf war" between the two agencies "over" at a roundtable jointly hosted by the CFTC and the SEC. This follows years of clashing over cryptocurrency market regulation, with former CFTC Chair Rostin Behnam arguing that most digital assets are commodities, while former SEC Chair Gary Gensler characterized most cryptocurrencies as securities. Pham noted that because both agencies oversee related areas of the financial markets, the division of responsibilities was not always clear, leading to unnecessary friction and confusion for market participants. Despite rumors of a potential merger between the SEC and CFTC, SEC Chairman Paul Atkins denied the claims, emphasizing that coordination and unification are key, with the decision to merge being a matter for Congress and the President. Talk of restructuring the government would distract from significant opportunities. The roundtable, which runs until Monday, will feature executives from Kalshi, Kraken, Polymarket, Robinhood Markets, Bank of America, and JPMorgan Chase.
Ethereum Treasury Firm Bit Digital Plans to Raise $100 Million Through Convertible Bond Offering
According to The Block, Ethereum treasury company Bit Digital announced on Monday that it has proposed issuing $100 million in convertible bonds to purchase additional Ethereum. Net proceeds from the bond offering will be used primarily to purchase Ethereum, but the company may also use them for general corporate purposes, including potential investments, acquisitions, and other business opportunities related to digital assets. Bit Digital has filed a preliminary prospectus with the U.S. Securities and Exchange Commission. Barclays, Cantor, and B. Riley Securities are the lead underwriters for the bond offering. Bit Digital has not purchased significant amounts of Ethereum since July. The company has been accumulating and staking ETH since 2022.
According to The Block, Flying Tulip, a new crypto project founded by DeFi veteran Andre Cronje, has secured $200 million in private seed funding. The project aims to build an on-chain exchange spanning the "full spectrum of DeFi"—a system that will encompass spot trading, derivatives, lending, stablecoins, and insurance. This $200 million round, raised in the form of a Simple Agreement for Future Tokens (SAFT), values Flying Tulip's tokens at a fully diluted value (FDV) of $1 billion. The funding round, which launched on August 14th and closed within a month, did not include a single lead investor. Participants included Brevan Howard Digital, CoinFund, DWF Labs, FalconX, Hypersphere, Lemniscap, Nascent, Republic Digital, Selini, Sigil Fund, Susquehanna Crypto, Tioga Capital, and Virtuals Protocol. Flying Tulip now plans to raise up to $800 million more through a public sale of its FT tokens at the same $1 billion valuation. Cronje stated that the sale will be conducted on Flying Tulip's own platform, rather than leveraging an existing ICO platform. The fundraising will feature an "on-chain redemption right," allowing investors to destroy FT tokens at any time to redeem their initial principal portion of the assets invested. Redemptions will be managed by an audited smart contract, with safeguards such as queues and rate limits in place to ensure solvency. If reserves are temporarily insufficient, requests will be placed in a transparent queue and processed once funds are replenished. FT tokens will not be transferable until the public sale is complete. Team members will have no initial allocations, and their compensation will be based on planned open market buybacks funded by protocol proceeds, directly tying their upside to performance.
Coinbase Derivatives to Launch SUI Futures on October 22
Coinbase Derivatives will launch SUI futures contracts on October 22. The contracts are provided by Coinbase Derivatives and will be listed on Coinbase through approved FCM partners for use by retail and institutional traders.
Coinbase has listed Anoma (XAN)
Coinbase announced on the X platform that Anoma (XAN) is now available on Coinbase.com and the Coinbase app under the “Experimental” label. Coinbase customers can log in and buy, sell, exchange, send, receive, or store these assets.
Binance Launches White Label "Crypto-as-a-Service" Solution for Traditional Institutions
According to The Block, Binance announced the launch of its white-label "Crypto-as-a-Service (CaaS)" offering, providing regulated financial institutions and brokerages with back-end infrastructure, including spot/futures trading, liquidity, custody, compliance, and clearing. Institutions retain the front-end experience, brand, and client relationships, while enabling internal "best-price" matching and access to Binance's global order book for optimized execution and spreads. The solution will begin rolling out gradually in September, with full support expected by the end of 2026. CaaS includes "Client Management" functionality, supporting client tiering, fee markups, and customized trading configurations.
According to Onchain Lens, citing on-chain data, the Royal Government of Bhutan (Druk Holdings) transferred 2,011.23 BTC to a new wallet, which is equivalent to approximately US$230 million at the current price. This trend indicates that it may be preparing to list on the exchange.
According to Lookonchain, 10 Bitcoin ETFs saw a combined net outflow of 4,083 BTC (approximately $466.29 million). Fidelity saw a 2,747 BTC outflow, reducing its holdings to 200,699 BTC (approximately $22.92 billion). Nine Ethereum ETFs saw a combined net outflow of 81,358 ETH (approximately $341.7 million). BlackRock saw a 49,608 ETH outflow, leaving its holdings at 3,775,070 ETH (approximately $15.86 billion).
The US SEC requires issuers of LTC, XRP, SOL, ADA, and DOGE ETFs to withdraw their 19b-4 filings.
According to Eleanor Terrett, the US SEC has asked issuers of spot ETFs such as Litecoin (LTC), XRP, Sol, ADA, and DOGE to withdraw their 19b-4 filings, as these filings are no longer required after they meet the "generic listing standards." Reports indicate that the withdrawal will begin as early as this week, with issuers required to proceed with listings according to the new standards.
According to GlobeNewswire, Predictive Oncology (NASDAQ: POAI) announced two private placements (PIPEs): a cash PIPE to issue approximately 66.67 million shares at a price of $0.7751 per share, raising approximately $51.7 million; and a crypto PIPE to issue prepaid warrants using locked and unlocked Aethir (ATH) tokens, with a notional value of approximately $292.7 million. Both transactions are expected to close simultaneously on October 2nd. The company will use ATHs to build a digital asset library and continue to purchase ATHs in the secondary market. For each ATH purchased, the DCI Foundation will grant an additional 20% of tokens. Shareholders have approved a 1:15 reverse stock split, effective September 30th (this information is pre-split).
Binance: Falcon Finance opening delayed by 30 minutes due to airdrop delay
According to a Binance announcement, Falcon Finance (FF) has postponed its trading launch from 21:00 to 21:30 UTC due to a delay in its on-chain airdrop. The announcement stated that this adjustment only affects the opening time.
CoinShares: Net outflow of $812 million from digital asset investment products last week
According to CoinShares' latest weekly data, digital asset investment products saw a net outflow of $812 million last week, driven by strong US macroeconomic data that dampened expectations of interest rate cuts. However, net inflows for the year remained at $39.6 billion. The US saw a net outflow of approximately $1 billion, while Switzerland (+$126.8 million), Canada (+$58.6 million), and Germany (+$35.5 million) saw net inflows. By asset class, Bitcoin saw a net outflow of $719 million and Ethereum saw a net outflow of $409 million, while Solana saw a net inflow of $291 million and XRP saw a net inflow of $93.1 million. Net inflows for the month totaled approximately $4 billion, bringing the annual total close to last year's record of $48.6 billion. The report noted no simultaneous increase in demand for Short Bitcoin.
FalconX launches OTC crypto options electronic trading platform, supporting BTC, ETH, SOL, and HYPE
According to The Block, FalconX has announced the launch of Electronic Options, offering electronic execution and API access for over-the-counter crypto options, supporting 24/7 trading. Aimed at institutions, the platform utilizes a RFQ model and proprietary liquidity. Initially, it covers BTC, ETH, SOL, and HYPE, and offers matrix-style multi-leg strategy construction. Additional altcoins will be added in the future. Talos has already taken the lead in API integration.
Strategy increased its holdings of 196 BTC last week for approximately $22.1 million
Strategy purchased 196 new BTC last week for approximately $22.1 million, at an average price of approximately $113,048 per BTC. The announcement stated that as of September 28, the company held a total of 640,031 BTC, with a cumulative investment of approximately $47.35 billion and an average holding cost of approximately $73,983 per BTC.
According to Cointelegraph, Poland's lower house, the Sejm, approved the "Crypto-Asset Market Act" (Bill 1424), sending it to the Senate for deliberation. The bill designates the KNF as the regulatory body and requires all CASPs (exchanges, issuers, custodians, and others, including those based overseas) to obtain a license to operate in Poland. Applications must include details of their corporate structure, capital adequacy, internal controls and compliance, risk management, and AML procedures. If the legislation takes effect, CASPs will have a six-month transition period; otherwise, they could be forced to cease operations and face fines of up to 10 million Polish złoty (approximately $2.8 million) and up to two years in prison. The bill passed its second reading with 230 votes in favor and 196 against, prompting criticism from some politicians and industry insiders as overly restrictive.
Binance Futures to Delist HIFIUSDT and BAKEUSDT Perpetual Contracts
Binance Futures will delist USDⓈ-M HIFIUSDT and BAKEUSDT perpetual contracts.
Federal Reserve Board Governor Waller stated that new technologies should be welcomed and applied in the payment field. Stablecoins should be subject to regulatory protection and increase payment options.
BitMine announces holdings of 2.65 million ETH and total assets of $11.6 billion
According to PR Newswire, BitMine Immersion Technologies (BMNR) announced that it holds 2,650,900 ETH, 192 BTC, $436 million in cash, and other crypto assets and "moonshots," totaling approximately $11.6 billion. The company claims it holds the world's largest ETH vault and the second-largest crypto vault, trailing only Strategy Inc. (MSTR), which holds 639,835 BTC (approximately $71 billion). BMNR's average daily trading volume over the past five days is approximately $2.6 billion, ranking it 26th in US stock market trading volume. The company aims to increase its ETH holdings to 5%.
21Shares Files Amended S-1 for Updated Solana Spot ETF
21Shares has filed an amended S-1 with the U.S. Securities and Exchange Commission (SEC) for its Solana spot ETF application. The filing shows that the updated prospectus, Form S-1/A Amendment 4 (File No. 333-280557), includes the following: a Custody Services Agreement (EX-10.13), a Prime Broker Agreement (EX-10.3), and a Marketing Agent Agreement (EX-10.8) with BitGo, along with a legal opinion from Dechert LLP (EX-5.1) and an auditor's consent letter (EX-23.1). The trust agreement and certificates have also been amended (EX-3.2 and EX-3.6).
Falcon Finance announced that $FF redemption will open today at 20:00 UTC+8. The announcement states that 0.3% of the total token supply will be distributed 50/50 between the top 200 Yap2Fly leaders and Kaito stakers (holding 5,000 sKAITO or YT-sKAITO). Vesting will unlock 40% of the tokens through TGE, with the remainder unlocked gradually in Q4 as Falcon badge levels are achieved. Any rewards not claimed within three months will be forfeited and redistributed equally between the two groups of eligible users.
