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U.S. APPEALS COURT RULES AGAINST KALSHI, SAYS STATES CAN REGULATE ITS EVENT CONTRACTS, COURT RULING SHOWS
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SEC Corp Fin staff FAQs (Sept 25, 2026) clarify staking receipt tokens (SRTs) as non-securities "receipts" or digital commodities when evidencing ownership of non-investment-contract digital assets, with no issuer control or extra benefits. Buyback announcements on functional non-security tokens do not create essential managerial efforts or new investment contracts.
Functional/decentralized thresholds follow issuer definitions; post-functionality maintenance also generally exempt. Staff views only—no legal force, facts-and-circumstances apply. Supports LSTs and mature token utility but leaves edge cases open.
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Magic Eden's discontinued EVM marketplace (via Limit Break Payment Processor V2, last used Oct 2024) left legacy NFT approvals exploitable. Attackers stole ~$2.8M in NFTs/WETH on Sep 24; whitehat 0xQuit secured 23k+ NFTs worth $5.7M into custody for return after revokes. Users who listed/traded on Ethereum/Polygon/Base pre-Oct 2024 must revoke via revoke .cash—current listings safe. Old approvals remain a core NFT market risk.
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A WSJ analysis of public trading data found that Kalshi traders have executed nearly one million identical transactions in a single market since August, sparking regulatory scrutiny over potential artificial trading activity
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WSJ analysis flags nearly 1M identical Kalshi trades in one market since August, triggering regulatory scrutiny for potential artificial/wash activity. No immediate market impact cited; raises questions on platform integrity and volume quality in event contracts. Bullish for oversight if real; red flag for trust if manipulative.
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Aave V4 on Base launches tokenized equities collateral (AAPLc, NVDAc, GOOGLc, METAc etc.) for USDC borrowing in a dedicated Equities Hub.
Coinbase-issued B20 tokens (1:1 backed by real shares in ADGM custody) go live as collateral shortly after the Aug 24 launch. Morpho already sees tiny activity (~$104k supplied, $55k borrowed).
Catalyst for Base RWA/DeFi integration and stock-backed loans. Red flag: restricted to non-US users, equity liquidation risks, and early-stage adoption. No material TVL/volume impact yet.
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Strategy proposes daily dividend structure for U.S. preferred securities (STRF, STRC, STRK, STRD)
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Strategy proposes shifting $STRF, $STRC, $STRK, and $STRD to daily dividend accrual (every calendar day, paid next business day) while keeping total economics identical. The move targets improved price stability, liquidity, and holder demand ahead of a shareholder vote.
Potential catalyst for tighter spreads and steadier pricing if approved; limited near-term market reaction expected until vote outcome.
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Ethena is adding Binance bStocks (tokenized US equities) and equity perps to USDe backing via basis trades—long spot bStocks, short perps to capture funding yield. Diversifies collateral mix beyond crypto for potential scale/yield gains. Bullish for USDe growth and ENA utility; flags equity basis risk, Binance concentration, and regulatory exposure.
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KelpDAO sues LayerZero and CEO Brian Pellegrino over April's $292M rsETH bridge exploit (largest DeFi hack of 2026).
Accuses failure to disclose risks of single-DVN (1-of-1 verifier) config despite LayerZero approval; blames LayerZero infrastructure/RPC poisoning (Lazarus-linked). ~116k rsETH drained; $71M frozen on Arbitrum. Kelp shifting to Chainlink CCIP.
Catalyst: Legal precedent on cross-chain liability. Red flag: Ongoing dispute; no immediate token/market moves evident amid broader DeFi contagion (~$10-15B TVL drop post-hack).
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[SECURITY NOTICE] Bitget Hot Wallet Incident — September 24, 2026
At 18:31 UTC on September 24, 2026, Bitget's security systems detected unauthorized transfers from some of our hot wallets. Our security team activated emergency response protocols immediately.
What we have confirmed:
-Estimated funds affected: approximately $351.6 million
-Cold wallets remain fully secure. Bitget operates a three-tier wallet architecture — the breach contained only a portion of the hot wallet and warm wallet layers.
-User funds are safe. The full amount of this loss falls within the coverage of Bitget's User Protection Fund, which currently holds over $464 million
Actions we have taken:
-Emergency response team activated within minutes of detection
-Abnormal transfer addresses identified, flagged, and reported
-Withdrawals temporarily suspended as a precautionary measure, pending security review
-Law enforcement and on-chain security firms have been formally notified and are engaged
What this means for you:
-Your account balances are accurate and your assets are protected
-Deposits and trading remain fully operational
Withdrawals are temporarily paused and will be restored as soon as the security review is complete
-What comes next: We will provide updates on an hourly basis across this channel and all official platforms. A full incident report — including root cause analysis and corrective actions — will be published within 24 hours. We will not speculate on the attack vector until the investigation is complete.
Bitget has navigated multiple market cycles. We will not run from this. Every dollar and every decision will be accounted for, transparently and in full.
Updates will be posted here and across all official Bitget channels as they become available.
— Gracy Chen, CEO, Bitget
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Federal Reserve Board requests public comment on two proposals related to establishing a regulatory framework for Board-supervised payment stablecoin issuers under the GENIUS Act
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Fed requests comments on GENIUS Act stablecoin rules: issuers must fully back coins with short-term T-bills/high-quality liquid assets, meet standardized capital/risk standards, and follow safekeeping rules. Separate tailored bank application process with business plans and appeals. 60-day comment window post-Federal Register.
Clarity catalyst for supervised stablecoins vs. higher compliance bar.
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