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SEC Commissioner Hester Peirce: Financial Privacy Should Be the Default
Outgoing U.S. SEC Commissioner Hester Peirce said in a September 27 interview with that people's right to protect their financial privacy should be respected. She noted that people are not normally required to expose all of their financial transactions to the public, and while blockchain offers transparency, that openness also makes privacy protections necessary.Peirce said that while law enforcement must still be able to do its job, protecting financial privacy in everyday life should be treated as the default rather than as a sign of suspicious activity.

According to DefiLlama, 514 of 558 tracked blockchains generated less than $1,000 in fees over the past 24 hours, including 443 below $10 and 399 with zero fees. Only seven chains generated more than $100,000: Solana at $1.09 million, Tron at $922,900, BNB Chain at $793,900, Ethereum at $435,000, Bitcoin at $325,600, Base at $114,800 and Robinhood Chain at $100,900.

1. Tether-backed Utexo Plans to Issue USDT on Bitcoin Network This Month link
Utexo, backed by Tether, plans to issue USDT on the Bitcoin network this month. Viktor Ihnatiuk, co-founder of Utexo, stated that the firm has obtained a commercial license to issue USDT on Bitcoin and intends to provide APIs, SDKs and cloud infrastructure for exchanges, wallets and payment service providers. Built on the RGB protocol and Bitcoin’s UTXO model, Utexo keeps most transaction data off-chain. It focuses on three types of use cases: private USDT transfers, direct swaps between native BTC and USDT, and native BTC-collateralized lending without wrapping BTC onto other blockchains.
USDT was first launched on Bitcoin via the Omni protocol in 2014; Ethereum and Tron later became its primary circulation networks. Utexo also plans to extend support to the Lightning Network after the Bitcoin-based USDT goes live.
2. Ethereum Foundation and Open Anonymity Launch zkAPI to Hide API Payment Identities via Zero-Knowledge Proofs link
The Ethereum Foundation and the Open Anonymity Project have launched zkAPI, which uses zero-knowledge proofs to decouple API usage from payment identity and is now live on the Ethereum mainnet. Users first deposit limits such as ETH and USDC into an on-chain Vault. Afterwards, zero-knowledge proofs are used to authorize API access for a single request or an entire session. Service providers can verify payment validity without learning the specific source of deposits or payer identity, and the payment layer cannot view request content. zkAPI supports generating short-lived, rate-limited API Keys for compatible interfaces including OpenAI and Ollama, with settlement based on actual usage. Funds are held in smart contract custody, and users can withdraw on-chain by exiting on their own. The solution is currently mainly for AI inference and can be extended to RPC, image generation, VPN and machine-to-machine services. It cannot hide identity-related risks stemming from IP addresses, request timestamps or prompt content itself.
3. Trump Meme Coin Holder Dinner Scheduled for November 22; Top 185 Holders Eligible link
The promoter of Trump’s meme coin TRUMP, plans to host a holder dinner at Trump National Golf Club on November 22. The top 185 TRUMP holders by holdings qualify for attendance, with Trump listed as an event guest. Trump has attended similar events for TRUMP holders before. The token has slumped roughly 95% from its all-time high since launch, and its price once rose about 9% on the day the event was announced. Meanwhile, Democratic lawmakers are scrutinizing Trump and his family’s crypto businesses, stating they may launch further probes into such commercial activities if they gain control of either chamber of Congress after the November midterm elections. The White House previously stated Trump is not involved in day-to-day management of the family business and denied conflicts of interest stemming from his crypto ventures.
4. Aave Labs Submits ARFC Proposal to Establish Aave Foundation in the Cayman Islands link
Aave Labs has submitted an ARFC proposal to establish a memberless Aave Foundation in the Cayman Islands to hold, protect and license Aave trademarks, key domain names, protocol code and related intellectual property rights. This marks Phase One, covering only foundation registration and the appointment of independent directors, supervisors and a secretary. The DAO will bear reasonable registration, legal and setup costs, with no ongoing budget. Aave Labs and DAO service providers may not appoint or serve as directors or supervisors. Governance powers including protocol listings, parameter adjustments, budgeting and service provider selection remain with the DAO. Subsequent transfers of trademarks, domain names and code IP will each be submitted for governance review. The foundation will disclose held assets, operating expenditures and related legal actions on a quarterly basis.
5. Base Rolls Out Third Mainnet Upgrade Cobalt with Validity Transactions and Multiple B20 Features link
Base’s third mainnet upgrade, Cobalt, has gone live, introducing Validity Transactions and multiple B20 asset features. Validity Transactions allow users to pre-submit time-bound transactions that execute only when predefined conditions are met. The B20 standard adds Composite Policies, enabling rules such as KYC whitelists and sanction blacklists to be combined with AND or OR logic. Schedule Multiplier Updates support scheduled adjustments to asset balance representation, for example for stock splits. The new seizeWithMemo function empowers authorized administrators to reassign holder balances when the asset seizure mechanism is enabled, recording the source, destination, amount and memo on-chain. Base states that in the coming months it plans to cut block time from 2 seconds to 200 milliseconds, and natively support smart accounts, gas sponsorship and transaction batching at the protocol layer.
6. OP Enterprise Powers Soneium Operations, Committing to 99.9% Uptime link
OP Enterprise now supports the on-chain operations of Soneium. The Optimism Foundation and OP Labs will provide deployment, upgrades, sequencer, node infrastructure, daily monitoring and incident response support under a fully managed model, with a service level agreement setting a monthly uptime target of 99.9% and 24/7 emergency response. Soneium retains ownership of its blockchain, control over its roadmap and engineering participation. The team will continue advancing tokenized intellectual property and on-chain entertainment applications, including on-chain royalty distribution and IP tools for AI. Soneium previously ran on OP Stack. This partnership only covers fully managed operational support via OP Enterprise and does not include interoperability or cross-chain functions.
7. Stable Integrates with Visa Direct to Connect Stablecoin Settlements to Global Money Transfer Network link
Stable announced integration with Visa Direct, connecting its stablecoin settlement infrastructure to Visa’s global money transfer network, enabling real-time payments to bank accounts and mobile wallets. This partnership means Stable’s on-chain settlement can be further linked to traditional financial payment channels, providing an off-ramp for cross-border payments from stablecoin settlement to bank accounts and mobile wallets.
8. Balancer Community Approves Protocol Wind-Down via BIP-928 link
The Balancer community has passed BIP-928, approving the orderly wind-down of the protocol, while the fork proposal BIP-929 failed to pass. Existing pools will operate normally until October 30, with withdrawals available throughout the period. October 16 marks the deadline for partners to apply to designate V3 pools for extended operation until November 30. Starting October 30, pools will switch to withdrawal-only mode where contracts permit, and the bug bounty program will terminate concurrently. The V3 Vault will be suspended on November 30. BAL holders do not need to take immediate action. They are expected to burn BAL starting from late May 2027 to claim treasury assets proportionally. tetuBAL holders will receive BAL equivalent to 50% of their locked assets.
9. Blast to Cease Operations; Users Must Migrate Assets Back to Ethereum Mainnet by October 26 link
Ethereum Layer 2 network Blast announced its shutdown, stating that ongoing network maintenance costs now exceed the revenue generated by the L2, and no credible path to economic sustainability is available for the time being. Blast urges users to migrate their assets back to the Ethereum mainnet and plans to reduce withdrawal waiting time to 24 hours. Users may continue withdrawing assets via the regular interface before October 26; after that, assets can still be retrieved through the Blast Bridge contract on Ethereum L1. Blast launched in November 2023 and secured $20 million in funding at launch from investors including Paradigm and Standard Crypto.
10. Porsche Terminates Web3 Project and PIONΞERS CIRCLE Community link
Porsche announced the termination of the Porsche Web3 project and the PIONΞERS CIRCLE community activities. Holders will retain their PORSCHΞ 911 NFTs, which will remain on the blockchain. The PIONΞERS Discord server will be converted to a read-only archive to preserve community history and content, and the @eth_porsche X account will no longer receive ongoing updates.
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According to @EmberCN, wallets associated with the TRUMP token team transferred about 81.87 million TRUMP to centralized exchanges including Binance and OKX over the past eight months, worth roughly $249 million at an average transfer price of $3.04. The team was initially allocated 800 million TRUMP, or 80% of total supply, and is estimated to still hold about 718 million tokens, equal to 71.8% of total supply and worth around $1.49 billion.

CZ Explains Why He Recommended Pausing Withdrawals After the Bybit Hack
On September 25, 2026, Binance founder CZ said in an interview with When Shift Happens that after Bybit was hacked, he publicly suggested pausing withdrawals as a more cautious security measure to prevent further abnormal outflows of funds. He said that while suspending services could disrupt trading continuity and inconvenience users, security risks should take priority. Bybit ultimately did not pause withdrawals and no further issues occurred, which, in his view, also showed that there is no absolute right or wrong in such situations and that the key lies in risk assessment.

According to Tokenomist, one-time unlocks exceeding $10 million over the next month include HYPE, BTW, ENA, ZRO, FF, XPL, APR, H, ARB, CARDS, SUI, CONX, and DBR. Linear unlocks exceeding $10 million per month include RAIN, SOL, CC, ZEC, TRUMP, WLD, ASTER, PUMP, AVAX, TAO, MORPHO, NEAR, STABLE, VVV, KITE, AERO, DOT, GRASS, and SN51. The total unlock value is expected to exceed $1.913 billion.

Bloomberg ETF analyst Eric Balchunas said the U.S. SEC has approved 3x leveraged Bitcoin, Ether, gold, silver, crude oil and natural gas ETPs under the Securities Act of 1933, calling it a major win for Volatility Shares. The document he shared shows approval of Cboe BZX's proposed rule change to list and trade the six products.

Ethereum co-founder and Consensys founder Joseph Lubin said a security incident affected part of its infrastructure, but investigations so far show no indication that MetaMask wallets or customer funds were affected. Users' recovery phrases and private keys were not involved. His team and partners rotated validator keys as a precaution. Lubin said validator and withdrawal keys are separate, and his team does not hold clients' withdrawal keys, preventing the incident from causing unauthorized transfers of staked ETH.

Tom Lee: Continued DAT Buying Could Push Crypto Prices Higher
On September 30, 2026, BitMine Chairman Tom Lee told CoinDesk at Korea Blockchain Week that digital asset treasury companies (DATs) trading above their net asset value can raise capital to buy more crypto, reducing available supply and potentially driving prices higher. Citing HYPE as an example, he said a Hyperliquid DAT holds about 14% of the token supply and continues to buy. If its holdings reached 50%, HYPE could rise parabolically. WuBlockchain notes that Tom Lee's market forecasts tend to be optimistic. His bullish targets may not materialize, and actual market performance may differ significantly from his predictions. Readers are encouraged to focus on his analytical reasoning rather than use specific price targets or timelines as a basis for investment decisions.

Ethereum Layer 2 network Blast announced that it will shut down, saying the ongoing cost of maintaining the chain now exceeds the revenue generated by the L2 and that it sees no credible path to becoming economically sustainable. Users are being asked to withdraw assets to Ethereum mainnet by October 26, with the withdrawal delay set to be reduced to 24 hours. After that date, assets will remain withdrawable through Blast’s bridge contracts on Ethereum L1.
Blast launched in early access in November 2023 after raising $20 million from investors including Paradigm and Standard Crypto.

Chainalysis said the $387 million Bitget hack was carried out by DPRK-linked threat actors. Within the first three hours, the stolen funds moved across Ethereum, XRP, Zcash and Tron through 23 transfers, with Ethereum and XRP accounting for 49.7% and 40.8% respectively. Investigators also traced tens of millions of dollars in stolen XRP through cross-chain liquidity protocols into Bitcoin over roughly a day and a half. The attack has pushed total DPRK-linked crypto thefts in 2026 above $1 billion.

Vitalik Buterin outlines Ethereum’s evolution into a “cryptographic world computer,” El Salvador launches the Sivar national super app on Base, the SEC advances on-chain financing, tokenized securities and crypto custody rules, while HSBC unveils its Hong Kong stablecoin RedCoin and Morgan Stanley launches a Digital Asset Lab. This week also saw further momentum in MiCA reform, stablecoin regulation, tokenized finance, DeFi access, and institutional digital asset infrastructure. For the complete weekly curated reports, subscribe to our Substack:

Michael Saylor: Bitcoin's 20% Annual Gain Is Enough to Cover the Dividend
Strategy Executive Chairman Michael Saylor said the company expects Bitcoin to appreciate by around 20%–30% annually over the long term, meaning that even with STRC paying a 12% annual dividend, the cost remains manageable under his assumptions. He described STRC as a credit instrument rather than a product that requires investors to take on Bitcoin’s full volatility. Compared with bank preferred shares, high-yield bonds and private credit, STRC offers higher yields and seeks to maintain relative price stability through Strategy’s mechanism of buying back or issuing shares around the $100 level. Saylor said the credit foundation behind STRC comes from Strategy’s large Bitcoin holdings, and that the company aims to convert part of Bitcoin’s value into a relatively stable income-generating instrument.

According to WuBlockchain Data Center, OKX’s exchange reserve assets reached a record high of more than $32 billion over the past week, up 7.8% in September. Binance held about $178.8 billion in reserves over the same period, up 4.0% over 30 days and ranking at the 89.7th historical percentile, as exchange assets continued to concentrate among major platforms.

Japan’s largest crypto exchange bitFlyer announced that it will introduce an anti-fraud measure called “Cooldown” on October 15. Individual customers within 90 days of completing identity verification will enter a 48-hour cooldown period after each JPY deposit, during which part of their crypto assets cannot be sent to external addresses.
The restricted amount equals JPY deposits made in the previous 48 hours minus JPY 100,000 (about $634); deposits of JPY 100,000 or less are unaffected. Quick Deposit is excluded because it already carries a seven-day transfer restriction. The measure does not affect JPY deposits or withdrawals, crypto trading, holding, or receiving assets.

Tether-backed Bitcoin payments infrastructure project Utexo plans to issue USDT on the Bitcoin network this month. Co-founder Viktor Ihnatiuk said the company has obtained a commercial license and will provide APIs, SDKs and cloud infrastructure for exchanges, wallets and payment providers. Built on RGB and Bitcoin’s UTXO model, Utexo will support private USDT transfers, native BTC-USDT swaps and BTC-backed lending without wrapping Bitcoin.
USDT was first issued on Bitcoin via Omni in 2014, before Ethereum and Tron became its main networks. Utexo also plans to expand USDT support to the Lightning Network after its Bitcoin launch.

According to the Italian media outlet Milano, in February 2026, former Fideuram Chairman Paolo Molesini received a WhatsApp message impersonating Carlo Messina, CEO of Intesa Sanpaolo Group, followed by a phone call using an AI-generated voice impersonating lawyer Paolo Nastasi. Fideuram is the private banking subsidiary of Intesa Sanpaolo, one of Italy’s largest banking groups.
Molesini then instructed the finance department to transfer approximately €95 million to accounts in mainland China, Hong Kong and other locations. Fideuram later recovered around €40 million, while Portuguese authorities froze an additional €13 million. At least €36 million was subsequently converted into crypto after multiple overseas transfers, and investigators are tracing the funds through international judicial cooperation.
Molesini was not investigated and resigned as chairman on March 12, citing “personal reasons.”

SlowMist issued a security alert stating that Aave v3 Loop Safe Module was exploited through an access-control vulnerability in FlashLoopAdapter’s open() and close() functions. The attacker allegedly bypassed Safe authorization and executed arbitrary modules to steal approximately 114.09 ETH from two Safe multisig addresses, while repaying around 1,300 WETH in debt to unlock collateral.