Qubic Halts Blockchain After $1.4M Wallet Theft

Layer-1 blockchain network Qubic halted operations Sunday after an attacker reportedly exploited weakly generated wallet seeds to drain approximately $1.4 million from more than 1,400 accounts, according to the project.  In a statement on X, Qubic said the network was halted at tick 85,371,949, where it remains paused at the time of writing. Qubic said…

The White House’s crypto chief departs: State of Crypto

White House Executive Director of the President’s Council of Advisors for Digital Assets Patrick Witt is leaving government service and returning to the private sector. Where does that leave the council? PS: I’ll be at Money 20/20 on Monday and Tuesday and NEXTPredict on Thursday and Friday. Want to say hi? Ping me on Telegram….

What’s the Case for Supreme Court Review of Sam Bankman-Fried’s Conviction?

After being convicted in 2023, losing his appeal to a Second Circuit court in 2026 and awaiting a decision on a presidential pardon that may never come, former FTX CEO Sam “SBF” Bankman-Fried is hoping to take his criminal case to the US Supreme Court. Jeffrey Fisher, counsel at the law firm Hecker Fink LLP…

Chip-stock bets lost $52 million in 10 minutes with Wall Street shut

The selling started on Binance, according to a review of the trades by David Jeong, chief executive of trading firm Tread.fi, who placed the first large SanDisk and Micron sell orders on Binance at 21:21:59 UTC. Less than a second later, orders hit Hyperliquid, a crypto exchange where Trade XYZ lists stock-tracking contracts, and roughly…

Coins.ph Says BSP License Intact Amid Reported Revocation Risk

[Update, 11:00 am UTC: Added a follow-up response from a Coins.ph spokesperson.] Coins.ph said it remains licensed by the country’s central bank following reports that it could face license revocation over alleged transactions involving restricted offshore gambling operators.  Coins.ph is one of the largest crypto exchanges in the Philippines, recording approximately $52 million in 24-hour…

Circle defends USDC economics as stablecoin rivals court its partners with bigger cut

Stablecoin issuer Circle CRCL$82.25·Market Closed is defending its business model as Coinbase, its largest distribution partner, backs a rival that aims to give businesses more income from stablecoin reserves. In a blog post on Friday, Chief Commercial Officer Kash Razzaghi wrote that Circle kept about 7 cents in net profit for each dollar in revenue…

OCC Releases Report One Year After Donald Trump’s ‘Debanking’ Order

The US Office of the Comptroller of the Currency (OCC) released a report on debanking efforts, including ties to digital assets as activities that influenced banks to limit financial services. In a report released Wednesday, the OCC said certain banks had “public and nonpublic policies” restricting services for many industries, including oil and gas, tobacco,…

Australia Proposes Capital, Custody Rules for Crypto

Update (Oct. 15 at 5:35 am UTC): This article has been updated to include comments from Liam Hennessy, partner at Thomsons. Update (Oct. 15 at 11:44 pm UTC): Added comment from Steven Pettigrove, partner at Piper Alderman. Australia’s securities regulator opened consultation Thursday on proposed capital, custody and trading requirements for crypto platforms, as it…

Metaplanet to Issue $329M Convertible Bonds to Pay Debt, Fund Share Buybacks

Metaplanet will issue 52 billion yen ($329 million) in zero-coupon, euro-yen convertible bonds due in 2031. Japanese investment and Bitcoin treasury company plans to use about 23.6 billion yen ($149 million) of the net proceeds to repay Bitcoin-collateralized loans and about 28.3 billion yen ($179 million) for share buybacks, according to a Tuesday announcement. The…

Citrini predicts RWA tokenization boom. The harder question is who profits

That isn’t as obvious as it sounds. Citrini argued that tokenization could lift the broader crypto ecosystem, but more assets moving onchain doesn’t automatically make bitcoin BTC$81,577.53, ether ETH$2,408.07 or whichever blockchain hosts them the best trade. Arthur Hayes, BitMEX’s co-founder and the chief investment officer of Maelstrom, framed that problem more bluntly. RWA tokenization…