📰 Web3 News Morning Brief | 10.9
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🟥 Regulation & Macro
▪️ U.S. Senator Blumenthal has officially sent a letter to Cantor Fitzgerald, requesting an explanation of its cooperation with Tether and its sanctions-compliance status. The move targets claims that USDT is an “Iran shadow banking” tool. This comes alongside oil prices nearing $100, bond yields hitting the highest level since 2002, and continued risk-averse macro sentiment that keeps pressure on risk assets.
▪️ South Korea’s crypto market is about $450 billion, firmly No. 1 in East Asia. Meanwhile, within China, the number of P2P stablecoin wallets has surged 43-fold against the trend; demand for Asia off-exchange and underground OTC has not faded due to the ban.
🟩 Projects & Ecosystem
▪️ Ethereum’s Sepolia testnet completed the GlAmsterdam upgrade. The block gas limit was raised to about 200 million—over 3x the 60 million on the mainnet—paving the way for mainnet scaling and the ePBS route.
▪️ Solana ecosystem activity is intense: Securitize launched tokenized U.S. stocks and supports dividend payments and voting rights, with the stock price up more than 10% in a single day; Orca and Loopscale merged to form Formation, aiming to enter the regulated U.S. market; Jump Crypto’s Firedancer wallet further re-staked about $49.81 million worth of SOL.
▪️ Meanwhile, a Bitcoin life insurance company, completed a $37 million funding round at a valuation of $350 million. Bain Capital Crypto led the round, with participation from Pantera, Framework, Apollo, and others. It focuses on BTC-denominated life insurance demand across Asia, Europe, and the Middle East.
🟦 Capital & Markets
▪️ BTC briefly fell below $81,000, approaching a 3-week low; spot ETF net outflows were about $485 million in a day, the largest since June. Combined with the one-year anniversary of last year’s Oct 10 flash crash nearing, market sentiment is cautious.
▪️ After being liquidated for about 28,700 ETH (around $69.7 million) due to the decline, a certain “whale” has added positions against the trend. It currently holds about 79,000 ETH long positions (about $196 million), with the liquidation price around $2,290 to $2,286.
▪️ TD Cowen raised its year-end BTC target price to about $109,000 (from $97,500) and set a $280,000 expectation for 2029. Arthur Hayes wrote that each round’s bull market early phase is always accompanied by FUD, and the story for 2026 is AI + crypto panic.
▪️ In September, crypto security losses totaled about $730 million. Two incidents—Bitget ($388 million) and Liquid Network ($319 million)—accounted for roughly 90% of the total. The attack focus has shifted from contract vulnerabilities to exchange backends, verification software, oracle infrastructure, and other foundational layers. #Uptober #RWA
💡 Opportunity Notes
1️⃣ BTC faces short-term pressure from macro risk aversion and ETF outflows, but mainstream views such as TD Cowen and Arthur Hayes remain bullish in the medium to long term. It’s recommended to closely watch two support levels at $80,000 and $75,000. If it breaks down on increased volume, the trend may weaken; until the key levels are broken, it remains a sideways consolidation pattern.
2️⃣ The Solana ecosystem is advancing in parallel across tokenized assets, DeFi integration, and staking demand. $SOL ’s on-chain activity and TVL remain key metrics to monitor, but be mindful of potential supply pressure from unlocks of large staked positions such as Jump’s.
3️⃣ Security incidents show the attack surface has moved up to exchange backends and the infrastructure layer. The old logic of “just look at audit reports” is no longer sufficient. Watch the leading audit, monitoring, and oracle sectors, and avoid small-cap “concept coins” without real deployment.
Markets involve risk; investing requires caution. This article does not constitute any investment advice.
━━━━━━━━━━━━━
🟥 Regulation & Macro
▪️ U.S. Senator Blumenthal has officially sent a letter to Cantor Fitzgerald, requesting an explanation of its cooperation with Tether and its sanctions-compliance status. The move targets claims that USDT is an “Iran shadow banking” tool. This comes alongside oil prices nearing $100, bond yields hitting the highest level since 2002, and continued risk-averse macro sentiment that keeps pressure on risk assets.
▪️ South Korea’s crypto market is about $450 billion, firmly No. 1 in East Asia. Meanwhile, within China, the number of P2P stablecoin wallets has surged 43-fold against the trend; demand for Asia off-exchange and underground OTC has not faded due to the ban.
🟩 Projects & Ecosystem
▪️ Ethereum’s Sepolia testnet completed the GlAmsterdam upgrade. The block gas limit was raised to about 200 million—over 3x the 60 million on the mainnet—paving the way for mainnet scaling and the ePBS route.
▪️ Solana ecosystem activity is intense: Securitize launched tokenized U.S. stocks and supports dividend payments and voting rights, with the stock price up more than 10% in a single day; Orca and Loopscale merged to form Formation, aiming to enter the regulated U.S. market; Jump Crypto’s Firedancer wallet further re-staked about $49.81 million worth of SOL.
▪️ Meanwhile, a Bitcoin life insurance company, completed a $37 million funding round at a valuation of $350 million. Bain Capital Crypto led the round, with participation from Pantera, Framework, Apollo, and others. It focuses on BTC-denominated life insurance demand across Asia, Europe, and the Middle East.
🟦 Capital & Markets
▪️ BTC briefly fell below $81,000, approaching a 3-week low; spot ETF net outflows were about $485 million in a day, the largest since June. Combined with the one-year anniversary of last year’s Oct 10 flash crash nearing, market sentiment is cautious.
▪️ After being liquidated for about 28,700 ETH (around $69.7 million) due to the decline, a certain “whale” has added positions against the trend. It currently holds about 79,000 ETH long positions (about $196 million), with the liquidation price around $2,290 to $2,286.
▪️ TD Cowen raised its year-end BTC target price to about $109,000 (from $97,500) and set a $280,000 expectation for 2029. Arthur Hayes wrote that each round’s bull market early phase is always accompanied by FUD, and the story for 2026 is AI + crypto panic.
▪️ In September, crypto security losses totaled about $730 million. Two incidents—Bitget ($388 million) and Liquid Network ($319 million)—accounted for roughly 90% of the total. The attack focus has shifted from contract vulnerabilities to exchange backends, verification software, oracle infrastructure, and other foundational layers. #Uptober #RWA
💡 Opportunity Notes
1️⃣ BTC faces short-term pressure from macro risk aversion and ETF outflows, but mainstream views such as TD Cowen and Arthur Hayes remain bullish in the medium to long term. It’s recommended to closely watch two support levels at $80,000 and $75,000. If it breaks down on increased volume, the trend may weaken; until the key levels are broken, it remains a sideways consolidation pattern.
2️⃣ The Solana ecosystem is advancing in parallel across tokenized assets, DeFi integration, and staking demand. $SOL ’s on-chain activity and TVL remain key metrics to monitor, but be mindful of potential supply pressure from unlocks of large staked positions such as Jump’s.
3️⃣ Security incidents show the attack surface has moved up to exchange backends and the infrastructure layer. The old logic of “just look at audit reports” is no longer sufficient. Watch the leading audit, monitoring, and oracle sectors, and avoid small-cap “concept coins” without real deployment.
Markets involve risk; investing requires caution. This article does not constitute any investment advice.