In this week’s edition of the weekly recap, Bitcoin struggled to hold its rebound as U.S. ETF buying returned, Bitget restored major-asset withdrawals after its $387.5 million breach, and Chainlink outlined banks’ access to Swift’s blockchain ledger.
Summary
- Bitcoin returned toward $84,000 as Bitfinex identified sustained buying above $86,500 as a key test.
- Bitget restored Bitcoin, Ether and USDT withdrawals after reporting $387.5 million in unauthorized transfers.
- Chainlink announced a framework connecting banks’ existing systems to Swift’s blockchain ledger.
- Coinbase secured CFTC approval for a clearinghouse supporting fully collateralized derivatives and USDC settlement.
- BitMine’s Ethereum treasury crossed 6 million ETH following another 17,362-token purchase.
Bitcoin retreats as ETF buying returns
- Bitcoin retreated toward $84,000 after reaching $87,220 on Oct. 2. Bitfinex analysts, in comments provided directly to crypto.news, identified $86,500 as a level Bitcoin needed to hold with sustained spot buying. Their figures placed 1.39 million BTC within the $84,000–$86,500 purchase range as of Sep. 30.
- U.S. spot Bitcoin ETFs attracted $170.2 million on Oct. 1 after roughly $149 million left during the previous session, according to Bitfinex. The analysts warned that sustained trading below $81,300, combined with further ETF withdrawals, would weaken the market structure.
Bitget restores major-asset withdrawals after $387.5 million breach
- Bitget restored major-asset withdrawals in stages following its Sep. 24 attack: Bitcoin on Sep. 28, Ether on Sep. 29 and USDT on Sep. 30. CEO Gracy Chen scheduled the remaining token, fiat and P2P services for Oct. 2 at 08:00 UTC. The exchange put unauthorized transfers from its hot and warm wallets at $387.5 million.
- Chen said Bitget’s Protection Fund had returned above $300 million, while its latest reserve snapshot showed a 131% ratio across 19 covered assets. THORChain rejected the exchange’s request to block attacker addresses, citing its permissionless design.
Chainlink connects bank systems to Swift’s ledger
- Chainlink announced a connection framework on Sep. 28 allowing financial institutions to access Swift’s blockchain ledger through their existing systems. Banks retain their transaction-signing keys while Chainlink’s platform coordinates the work between institutional infrastructure and the shared ledger.
- Swift said 17 banks across six continents were preparing live pilots using tokenized deposits. Its ledger supports round-the-clock payment instructions, while final settlement continues through agreed mechanisms. The initiative involves bank deposits represented on a ledger, rather than a new public cryptocurrency available to retail buyers.
Coinbase wins approval for its U.S. clearinghouse
- Coinbase secured CFTC clearinghouse approval on Sep. 28 for Coinbase Clearing LLC. Registration covers fully collateralized futures, options on futures and swaps. Coinbase said the business would use USDC collateral and support 24/7 settlement, completing its U.S. exchange, brokerage and clearing structure. The company will retain external partners for margined derivatives and planned single-stock perpetual products.
BitMine’s Ethereum holdings pass 6 million
- BitMine bought another 17,362 ETH, lifting its treasury to 6,001,302 ETH as of Sep. 27. The company said that represented about 4.9% of the 122.1 million-token supply used in its calculations. It reported 5,067,309 ETH staked, approximately 84% of its holdings, and valued its combined crypto, cash, securities and other investments at $17.2 billion.
Strategy adds Bitcoin while repurchasing preferred shares
- Strategy acquired another 1,665 BTC for $142.7 million during Sep. 21–27, bringing holdings to 847,666 BTC. Its Sep. 28 filing also disclosed $151.7 million of STRC preferred-share repurchases. Common-stock sales generated $246.2 million in net proceeds, with $142.7 million allocated to Bitcoin and $103.5 million to the preferred-share buybacks.
Senate investigators challenge Tether’s sanctions controls
- Democratic staff on the Senate Permanent Subcommittee on Investigations examined Iran-linked USDT use. Their Sep. 28 preliminary report said 84% of 846 sanctioned or seizure-targeted wallets used USDT exclusively or nearly exclusively. Senator Richard Blumenthal sought federal scrutiny of Tether’s compliance. Tether disputed the portrayal and said it had supported nearly $550 million in Iran-linked asset freezes during 2026.
CFTC event-contract measures enter White House review
- Two CFTC actions reached White House review on Sep. 28, according to the OIRA docket. One proposal would define swaps to include event contracts; a separate interim final rule would exclude casino-style gambling products. Neither was operative as of Oct. 1. The submissions followed a Sixth Circuit ruling allowing Ohio and Tennessee’s gambling-law cases against Kalshi to proceed without the injunctions it sought.
California restricts officials’ meme coin issuance
- Governor Gavin Newsom signed meme coin restrictions on Sep. 27. AB 2409 bars covered California officials and certain government employees from issuing meme coins. From Jan. 1, 2027, providers serving California residents face restrictions on newly issued tokens offered by, or with, covered officials. The legislation allows civil enforcement through injunctions and disgorgement; it does not impose a general ban on meme coin trading.
Robinhood plans U.S. crypto perpetual futures
- Robinhood announced U.S. crypto perpetuals for eligible customers in the coming months. Its Sep. 29 announcement named eight assets, with up to 10x leverage for Bitcoin and Ether and 3x for the other six. Robinhood Derivatives will offer the contracts through Bitstamp infrastructure. The company also outlined weekend trading for selected stocks and ETFs, pending regulatory review.
Fiserv puts Solana-based bank payments into production
- Fiserv launched its banking platform with Roughrider Coin as its first live use case. The Oct. 1 announcement opened access to more than 90 North Dakota banks and credit unions. VersaBank USA issues the dollar-backed token, Solana processes transactions, and Fireblocks supplies wallet infrastructure. Bank of North Dakota says the token is restricted to financial institutions and unavailable to individual investors.
MetaMask exits validators after an infrastructure incident
- MetaMask began exiting affected validators after disclosing a Sep. 30 infrastructure security incident. The company said it had identified no immediate threat to its wallets and did not control clients’ staking withdrawal keys. Lido expected the final affected validators to exit by Oct. 7, subject to network conditions, and said stETH holders needed no action.
SEC staff explains staking receipt classifications
- SEC staff clarified staking receipt treatment in FAQs covered on Sep. 26. Receipts documenting ownership of qualifying digital commodities may be digital tools, while certain protocol-based liquid staking receipts may qualify as digital commodities. The answers also addressed wrapped tokens and buybacks on functional networks. The SEC said the staff views have no legal force and create no new obligations.
Blast announces shutdown and withdrawal deadline
- Blast announced its network shutdown on Oct. 2, saying maintenance costs exceeded Layer 2 revenue. Users have until Oct. 26 to withdraw through the regular interface. The team expects withdrawals to pause for about a week while it processes Lido assets, then resume with a 24-hour delay. Assets will remain recoverable afterward through Ethereum bridge contracts, according to Blast.
