Today's crypto news offers a broad spectrum of insights, from the strategic moves of leading firms to the shifting political landscape, all of which have implications for legal and financial professionals in the Web3 space.
BitMine Immersion Technologies' decision to increase its Ethereum holdings by $980 million, bringing the total value to approximately $11 billion, is a testament to the growing institutional confidence in Ethereum. This move, which has resulted in a 6% rise in BitMine's stock, is a clear indicator of the convergence of AI and cryptocurrency trends, and the expected transformational effects on financial services due to recent regulatory developments.
Vanguard's reported consideration of offering its US clients access to select crypto ETFs marks a significant shift in the company's stance towards crypto. This potential move could lead to significant inflows into crypto majors, resulting in deeper secondary-market liquidity, broader retirement-account penetration, and more exposure from investors who previously had to move assets elsewhere.
The withdrawal of New York City's 'Bitcoin Mayor' Eric Adams from his re-election campaign is a reminder of the regulatory and political challenges faced by crypto advocates. However, the crypto industry's political traction appears to be shifting towards states like Texas, Wyoming, and Florida, where pro-innovation policies are being adopted.
The potential of a U.S. government shutdown is causing shifts in the cryptocurrency market, reflecting a de-risking strategy and tight cash management across funds. This uncertainty could impact the cryptocurrency market in several ways, including reducing staffing across financial regulators, creating uncertainty around filing and review timelines, and cutting the cadence of macro data releases.
Finally, the SEC and CFTC's joint roundtable to discuss regulatory harmonization for digital assets could have significant implications for the crypto market. The meeting's outcomes could redirect liquidity towards venues with consolidated surveillance and clear disclosure duties, and possibly lead to guidance that recognizes high-quality stablecoins for margin, which could increase capital efficiency at futures commission merchants and clearing members.
In conclusion, the day's news underscores the importance of regulatory, compliance, and institutional considerations in the rapidly evolving crypto landscape. As the sector continues to mature, these factors will play an increasingly crucial role in shaping its future.
The following article summaries have been sourced from Decrypt, CryptoSlate, NewsBTC, and Crypto Briefing. Each summary includes a direct link to the original source.
BitMine Immersion Technologies, led by Tom Lee, has increased its Ethereum holdings by $980 million, bringing the total value to approximately $11 billion. This move has resulted in a 6% rise in BitMine's stock, despite a 4% decrease over the previous week. The company's Ethereum holdings are the largest of any publicly traded firm, surpassing SharpLink Gaming, and making BitMine the second-largest global cryptocurrency treasury, following Strategy Inc.
The Las Vegas-based company disclosed total crypto and cash holdings nearing $11.6 billion, including 2.65 million ETH, 192 Bitcoin, and $436 million in cash. The increase in Ethereum holdings is 234,846 ETH more than the previous week's total. BitMine's Chairman, Tom Lee, has positioned Ethereum as a key player in the convergence of AI and cryptocurrency trends. The firm anticipates significant transformational effects on financial services due to recent regulatory developments, similar to the impact of the 1971 abandonment of the gold standard.
Vanguard, the world's second-largest asset manager, is reportedly considering offering its US clients access to select crypto ETFs, according to Crypto in America. This marks a significant shift from the company's stance in 2024 when it blocked spot Bitcoin ETFs on its platform. While no final decision or product list has been confirmed, the discussions reflect ongoing client demand and the fact that most of Vanguard's major competitors already enable trading. Vanguard's CEO, Salim Ramji, has experience in this area, having overseen the launch of BlackRock's Bitcoin ETF IBIT, one of the most successful ETF launches ever.
If Vanguard does decide to enable crypto ETF access, it could lead to significant inflows into crypto majors, resulting in deeper secondary-market liquidity, broader retirement-account penetration, and more exposure from investors who previously had to move assets elsewhere. Even a cautious rollout could have a substantial impact on ETF liquidity, given that Vanguard oversees approximately $10T in AUM and serves more than 50 million investors globally. The move would also represent a symbolic validation for crypto, with a firm that once deemed it "not appropriate for long-term portfolios" acknowledging its durable role alongside stocks and bonds.
In other crypto news, the SEC and FINRA have announced investigations into DATs for potential insider trading, and SharpLink (SBET) plans to offer tokenized shares via Superstate’s Opening Bell. Meanwhile, in the NFT sector, Hypurr NFTs were airdropped to early Hyperliquid users and reached a floor of 1,390 HYPE ($65,000) on an impressive $60M in daily volume.
Eric Adams, the mayor of New York City, known for his pro-crypto stance, has withdrawn from his re-election campaign. During his term, Adams had become a prominent figure in the crypto space, advocating for the integration of blockchain technology in city systems and pushing for New York to become the "crypto capital" of the world. However, his efforts often faced regulatory hurdles and political controversies. His withdrawal from the race follows legal issues, including a federal indictment over allegations of illegal foreign donations to his campaign, and questions about the feasibility of anchoring a political identity on cryptocurrency.
Despite Adams' exit, experts believe that his withdrawal reflects more on his personal controversies than on the crypto industry. Mayuko Hamazaki, principal at Willspire Capital, noted that the political traction of the crypto industry has been shifting towards states like Texas, Wyoming, and Florida, where pro-innovation policies are being adopted. Matt Mudano, co-founder and CEO of Bitcoin-native platform Arch Network, echoed this sentiment, stating that crypto is becoming more mainstream in U.S. policy and its wider perception will be shaped by national wins, not one mayoral race. Other politicians, such as Ian Calderon in California, continue to incorporate crypto into their campaign platforms.
The potential of a U.S. government shutdown is causing shifts in the cryptocurrency market, with Bitcoin's value fluctuating in response to the changing odds of a shutdown. Polymarket contracts showed the odds of a funding lapse in 2025 peaking between 72% and 82%, up from about 35% earlier. This uncertainty has led to Bitcoin's price falling from around $112,000 to $108,522, before retracing above $112,000. Other cryptocurrencies such as Ethereum and Solana also experienced price shifts, with the aggregate crypto market value erasing over $170 billion throughout the week. This reflects a de-risking strategy and tight cash management across funds, with funds rotating into dollars, short-tenor treasuries, and stablecoins.
A government shutdown could impact the cryptocurrency market in several ways. It would reduce staffing across financial regulators, create uncertainty around filing and review timelines, and cut the cadence of macro data releases. This could widen bid-ask spreads in volatile tokens and slow the reflexive dip-buying that often stabilizes order books after fast drawdowns. It could also delay the review of exchange rule filings and routine processing of product changes. This uncertainty could extend to new ETF launches and venue upgrades that contribute to the liquidity stack across Bitcoin, Ethereum, and large-cap altcoins. The impact of a shutdown on Bitcoin can be tracked by aligning price levels with scenarios for the duration of a shutdown and the speed at which calendars restart.
BitMine, an Ethereum-focused company, has significantly expanded its holdings by purchasing more than 200,000 ETH during the recent dip below $4,000. As of September 29, the company's total holdings have risen to 2.6 million ETH, valued at $10.9 billion, which represents over 2% of Ethereum's circulating supply. BitMine's Chairman, Thomas Lee, who also heads Fundstrat, stated that the company's buying spree reflects a long-term belief in Ethereum's role at the intersection of crypto and artificial intelligence. He described the purchases as "buying ETH at a discount to the future," arguing that both industries will remain key drivers of innovation for decades.
In addition to Ethereum, BitMine's balance sheet includes 192 Bitcoin worth approximately $21.5 million and a $157 million position in Eightco Holdings, a portfolio internally categorized as "moonshots." The company also has $436 million in cash reserves, bringing its total value to $11.6 billion. This aggressive expansion solidifies BitMine's position as the largest single Ethereum treasury and the world's second-largest crypto treasury overall, second only to Strategy (formerly MicroStrategy), which holds 639,835 BTC valued at about $71 billion.
BitMine's growing Ethereum position has also led to significant stock market activity. As of September 26, BitMine ranked 26th among the most actively traded US equities, with an average daily trading volume of $2.6 billion, placing it ahead of Visa among US-listed stocks. The company's shares, along with those of Strategy, account for 84% of the total activity among the top 30 digital asset treasury companies, with BitMine's shares alone representing 34% of that percentage.
The Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) are hosting a joint roundtable to discuss regulatory harmonization for digital assets. The meeting, which will be streamed on SEC.gov, will feature remarks from SEC Chair Paul S. Atkins and CFTC Acting Chair Caroline D. Pham, as well as executives from Intercontinental Exchange, CME Group, Nasdaq, Kraken, Polymarket, and Kalshi. The aim of the meeting is to provide clarity to the markets regarding the boundary between securities and commodities, which impacts where assets can trade, what disclosures apply, and how surveillance is coordinated.
The roundtable will address several key topics. Firstly, it will discuss the scope of the securities test for exchange-traded digital assets and whether standardized listing and disclosure templates can be expanded beyond bitcoin and ether. Secondly, it will consider the location of spot-market oversight, including whether the CFTC obtains clearer jurisdiction over cash markets for digital commodities. Finally, it will examine the treatment of event-contract venues, using Polymarket’s planned U.S. re-entry via acquisition of a CFTC-licensed exchange and clearinghouse as a case study. The meeting will also address the CFTC's recent initiative to take comments on the use of stablecoins and other tokenized assets for margin in derivatives markets.
The roundtable's outcomes could have significant implications for the crypto market. If the SEC and CFTC agree on listing templates and surveillance expectations, the next wave of products could move beyond single-asset ETFs into baskets or sector exposures. This would redirect liquidity towards venues with consolidated surveillance and clear disclosure duties. The CFTC's request for comment on tokenized collateral could also lead to guidance that recognizes high-quality stablecoins for margin, which could increase capital efficiency at futures commission merchants and clearing members. The meeting's format is designed to map practical oversight questions to existing statutory tools rather than announce new rules on the spot, so its value lies in the direction of travel across these categories.
The concept of "Uptober," a term referring to the historical trend of cryptocurrency gains in October, may not apply to XRP, according to an analysis by NewsBTC. While October has seen some significant rallies for XRP in the past, including a 94% increase in 2013, a 130% jump in 2014, and a nearly 179% surge in 2020, these instances are exceptions rather than the rule. The overall trend for XRP in October, when extreme years are removed, points to flat or negative results. The median October return for XRP is a slight loss of 1.79%, and the average return is even worse at -4.58%.
The analysis also challenges the belief that XRP typically performs well in the final quarter of the year. While the average Q4 return for XRP is nearly 88%, this figure is heavily influenced by a few extraordinary years. When these outliers are removed, the median return for Q4 is actually a loss of 4.32%. This data suggests that the perception of Q4 strength for XRP may not be as reliable as some believe. While XRP could still surprise to the upside, the historical data warns against treating October or Q4 as guaranteed periods of gains.
Bitcoin, despite being up 71% over the past year, seems to be in a slump recently, causing some investors to feel frustrated. However, analyst Jordi Visser views these pullbacks as part of a steady growth pattern. He suggests that more pullbacks could become common, even as Bitcoin continues to rise. Visser draws a parallel with Nvidia, the semiconductor giant whose stock skyrocketed during the AI boom, weathering five corrections of 20% or more before reclaiming higher highs. He argues that Bitcoin isn’t just a digital currency or a speculative investment, but is becoming part of the larger AI and tech conversation.
Visser's outlook doesn't rule out further upside for Bitcoin. He believes that the cryptocurrency's connection with AI adds weight to its long-term outlook. However, he warns that deep pullbacks may punctuate the rally. The analyst also highlights Bitcoin Hyper ($HYPER), which tackles some of Bitcoin’s biggest limitations. By leveraging the Solana Virtual Machine, Hyper can process several thousand transactions per second, compared to Bitcoin's average of seven. This has led to significant presale investment in $HYPER, surpassing $18.8M. Visser suggests that if Bitcoin follows Nvidia's pattern of multiple steep pullbacks en route to higher highs, it could indicate the potential of Bitcoin Hyper and Bitcoin itself.
Bitcoin has managed to regain its position above $110,000, but the market's momentum remains fragile with early signs of exhaustion. The cryptocurrency's inability to sustain its gains has led to speculation of a deeper correction. Market observers are closely watching to see if Bitcoin can maintain its position above this critical threshold or if selling pressure will push it lower in the upcoming sessions.
Despite the cautious outlook, some analysts view the current consolidation as a healthy reset in a broader bullish cycle. They argue that periods of cooling price action often serve as foundations for more sustainable rallies, reducing leverage and strengthening long-term support levels. Top analyst Maartunn has shared fresh data showing that retail demand is backing off. His findings show that the 30-day Retail Demand Change has dropped to -5%, its lowest level since July. This trend suggests smaller investors are stepping aside, leaving price direction increasingly in the hands of larger players and institutions.
The current retreat in retail demand could carry a bullish undertone for Bitcoin. Historically, retail investors often act as a contrarian signal—buying aggressively near cycle tops and capitulating near market bottoms. With the 30-day Retail Demand Change dropping, smaller investors appear to be stepping aside just as Bitcoin consolidates above the $110,000 level. This reduction in retail activity may be a sign that the market is flushing out weaker hands, setting the stage for stronger accumulation by institutions and high-conviction holders. However, broader macroeconomic risks add complexity to the picture. The looming threat of a US government shutdown is stirring concerns across risk assets, as investors weigh potential impacts on liquidity, market confidence, and the trajectory of Federal Reserve policy.
Bitcoin is currently trading around $112,141, showing signs of resilience after its recent dip below the $110,000 level. The chart reflects a short-term recovery, but BTC is still facing strong resistance from the 50-day and 100-day moving averages, both positioned slightly above the current price zone. These averages have acted as dynamic barriers in recent weeks, capping upward momentum and reinforcing the market’s corrective phase. For now, Bitcoin’s short-term outlook remains cautious: bulls need a decisive break above $115,000 to regain momentum, while bears may target deeper retracements if the $110,000 floor gives way again. The coming sessions will be crucial in determining whether this rebound is sustainable or just another pause in the correction.
The Sui Foundation has announced a multi-year security expansion initiative, backed by a previous commitment of $10 million. The initiative is aimed at protecting developers, applications, and users across the Sui blockchain ecosystem. The focus of the initiative will be on four core areas, namely, shielding end-users, providing ecosystem-wide visibility, enhancing protocol security, and implementing secure development standards.
The security expansion will equip developers with various security tools, including transaction simulation and exploit monitoring systems. Additionally, applications on the network will be able to leverage malicious dApp detection services and impersonation takedowns. This comes at a time when the Sui ecosystem is experiencing rapid growth, with its deflationary token model having removed around 2 million SUI from circulation. The foundation has reported that approximately 700,000 SUI tokens have been permanently removed from supply, with an additional 1.2 million locked long-term in the storage fund. The ultimate goal of the foundation is to establish higher web3 security standards through real-time risk signals and comprehensive threat monitoring systems.
Chainlink, in collaboration with SWIFT and several leading banks, has announced the successful completion of the second phase of an initiative aimed at modernizing corporate actions processing. The project, which began in October 2024, utilizes AI, Chainlink’s oracle infrastructure, and blockchain technology to automate data processing and establish a shared "golden record." The goal is to streamline one of the most expensive inefficiencies in global finance, as corporate actions reportedly cost an estimated $58 billion annually, with costs rising by 10% each year.
In this phase, the initiative expanded to include 24 institutions, such as DTCC, UBS, and DBS Bank. The solution transforms fragmented disclosures into standardized, real-time data that can be accessed in multiple languages. The system successfully handled multilingual disclosures and achieved near-total consensus among AI models on tested corporate actions. Validated data was delivered directly into existing financial systems within minutes, and the architecture demonstrated support for tokenized equities through unified records accessible across both blockchains and traditional infrastructure.
Looking ahead, the next phase of the project will expand the workflow to include other corporate actions like stock splits, and will extend its global reach by supporting more jurisdictions and currencies. The team also plans to introduce stronger privacy and governance controls to enhance compliance for financial institutions worldwide.
BlackRock, the world's largest asset manager, has transferred a significant amount of Bitcoin and Ethereum to Coinbase Prime, according to a report by Crypto Briefing. On September 29, the company moved $206 million worth of Ethereum and $38 million worth of Bitcoin to the institutional trading and custody platform. This comes as part of BlackRock's ongoing management of substantial Bitcoin and Ethereum holdings through its exchange-traded fund (ETF) products.
The report also highlighted that BlackRock holds approximately $86 billion in Bitcoin and over $16 billion in Ethereum through its spot ETF activities as of September 25. The firm executed a similar transaction on September 17, 2025, depositing Ethereum worth $20.4 million and receiving Bitcoin worth $34 million at Coinbase Prime. This suggests potential asset swaps or portfolio rebalancing. Furthermore, BlackRock filed for a Bitcoin Premium Income ETF on September 27, 2025, aiming to use covered calls to generate yield on spot Bitcoin holdings, building on the success of its $86 billion IBIT ETF.
