Eugene Investment & Securities has signed an agreement with blockchain company BEATOZ to test stablecoin settlement for tokenized securities subscriptions, targeting an onchain process that covers subscription, payment and settlement.

According to Eugene Investment & Securities, the memorandum of understanding signed on Sept. 21 will initially focus on a proof of concept that applies stablecoins to subscription payments for tokenized securities. The firms will examine whether the payment leg can be moved onto blockchain infrastructure alongside securities records.

Current tokenized securities systems can record ownership and changes in investor rights onchain, while subscription funds continue to move through conventional bank accounts. Eugene and BEATOZ plan to test a structure in which stablecoins handle the payment side so that subscription, payment and settlement can operate through a single blockchain based flow.

Stablecoin settlement could bring payments onchain

Under the agreement, Eugene will contribute its securities operations experience and existing tokenized securities infrastructure, while BEATOZ will provide its hybrid blockchain technology. The companies will jointly review where stablecoins could be used across securities operations before deciding on potential infrastructure connections and subsequent cooperation based on the PoC results.

Eun Seok hoon, head of Eugene Investment & Securities’ AX innovation division, described the agreement as a “first step” toward infrastructure connecting tokenized securities and stablecoins.

“We will use our existing tokenized securities issuance platform to find concrete ways to apply it,” Eun said.

Eugene already has infrastructure that can be used for the trial. The brokerage built its tokenized securities platform in 2024 and participated in a tokenized securities pilot operated by the Korea Securities Depository in 2025. It is currently part of Hana Financial Group’s consortium working on a Korean won denominated stablecoin.

The trial comes as South Korea prepares to formally incorporate tokenized securities into its regulated capital markets system. Crypto.news previously reported that the country has laid out a three stage tokenization plan, with the first phase scheduled to begin when amendments to the Electronic Registration Act take effect on Feb. 4, 2027.

Selected privately pooled money market funds and institutional bonds are expected to become eligible for tokenization during the first phase, along with unlisted stocks issued through trust structures and publicly offered fractional investment securities. A later phase is expected to extend tokenization to publicly offered securities before the final stage introduces onchain payment infrastructure linked to stablecoins.

Existing licensed financial companies will be permitted to handle tokenized securities within the scope of their licenses. Qualifying issuers will be able to manage their own securities accounts, while distributed ledgers will serve as legally recognized records under the amended framework.

South Korea is building tokenized securities infrastructure

Technical work has been moving alongside the regulatory changes. Samsung SDS won a contract earlier this year to build the Korea Securities Depository platform that is expected to support tokenized securities when the new framework takes effect.

The system is expected to connect blockchain based distributed ledger records with KSD’s existing electronic securities account infrastructure. Planned functions include tokenized securities issuance, circulation checks, rights management and real time monitoring of issuance and circulation volumes. Samsung SDS previously conducted functional analysis for KSD in 2024 and built a test platform in 2025.

Private securities companies have been preparing their own systems ahead of the regulatory rollout. Hanwha Investment & Securities has completed a tokenized securities platform supporting Avalanche and Hyperledger Besu after beginning development with FairSquare Lab in 2025.

KSD’s infrastructure is being designed to connect with Avalanche, Hyperledger Besu and Hyperledger Fabric, giving participating securities companies multiple distributed ledger options as they prepare their systems for the incoming framework.

Institutional experiments are extending beyond the underlying securities records into the payment side of tokenized assets. South Korea has expanded deposit token trials to nine banks, with the tokens being examined for government payments, AI agent transactions and settlement of tokenized assets.

Financial firms test different tokenization models

Other South Korean financial companies are running separate trials before the 2027 framework takes effect. Shinhan Asset Management and Plume signed an agreement in August to test a won denominated tokenized fund backed by one of Shinhan’s ultra short term bond funds.

The proof of concept is being conducted offshore and excludes South Korean residents. No tokens will be issued or distributed as part of the test. Shinhan and Plume are examining investor whitelisting, know your customer checks, anti money laundering procedures and other onchain operating requirements.

BNK Investment & Securities has taken another route through a partnership with EverTreasure covering investment products backed by cultural content. BNK is responsible for arranging and distributing potential tokenized securities, recruiting investors and advising on regulatory requirements, while EverTreasure will identify underlying assets and connect blockchain technology to the products.

BNK is among the securities companies participating in Koscom’s joint tokenized securities issuance platform project. The companies plan to conduct due diligence on underlying assets and product structures before any potential offerings are made available to investors.

Eugene and BEATOZ have not disclosed a timetable for completing their stablecoin settlement PoC. The companies said the results will determine potential infrastructure integration and subsequent cooperation, while their initial work will focus on testing stablecoins for subscription payments and examining their possible use across other securities operations.

Bitcoin (BTC) starts a new week at its highest levels in nearly eight months as bulls propel the market to $85,000.

Key points:

• Bitcoin hit $85,248 on Monday, marking its highest levels since Jan. 29.
• BTC price action is approaching the breakeven point for US spot Bitcoin ETF investors near $86,000.
• Markets eyed oil prices below $94 per barrel and bond yields amid talk of US-Iran war diplomacy.

Bitcoin passes $85,000 after weekly close

Bitcoin is facing a key breakout at the time of writing as it hits $85,000 and sets new 33-week highs. Data from TradingView shows BTC/USD advancing after setting a weekly close of $81,120 on Sunday, its highest since the week of May 4.

BTC/USD one-week chart. Source: Cointelegraph/TradingView

Crypto short liquidations spiked as a result, with CoinGlass putting the cross-crypto 24-hour total at over $600 million.

Crypto liquidation history (screenshot). Source: CoinGlass

The latest move higher has implications for the views of many market participants on whether price will hold above the prior local high of $82,950 from May. Last week, trader and analyst Rekt Capital described Bitcoin as facing a “moment of truth” as it coiled up below this level.

BTC/USD one-week chart. Source: Rekt Capital on X.com

Rekt Capital warned that a bearish divergence was playing out on the relative strength index (RSI) indicator on daily time frames, where lower highs for the indicator came with higher highs for price. He stated that this indicates a lack of underlying momentum to support the highs, increasing the risk of a sudden reversal.

With the return to $84,000, the daily RSI is approaching “overbought” territory at 70 at the time of writing. Bitcoin has reclaimed its 50-week exponential moving average (EMA) at $77,769, previously marked as a key prerequisite for upside continuation. 

BTC/USD one-day chart with 50-week EMA; RSI data. Source: Cointelegraph/TradingView

Bitcoin ETF investors near breakeven point

Various investor cohorts also returned to aggregate profit, including Bitcoin corporate treasuries, holdings of which have a cost basis of around $80,500. Now, price is approaching its cost basis for investors in US spot Bitcoin exchange-traded funds (ETFs). Per data by onchain analytics platform Glassnode, this cost basis currently sits at $85,638.

Bitcoin cost-basis data. Source: Glassnode on X.com

Bitcoin exchange-traded products saw a strong finish to the week, as investors added BTC exposure during a rally to $81,000. US ETFs saw net inflows of $435 million on Friday, their largest daily tally since Sept. 3, per data from UK-based investment company Farside Investors.

Despite the CLARITY Act failing to advance in the Senate last week, Thursday saw two US regulators — the Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) — move ahead with crypto-related policies. This provided a boost to crypto stocks and appeared to lift the mood among investors, with $159 million in net crypto ETF inflows on the day.

US spot Bitcoin ETF netflows (screenshot). Source: Fidelity Investments 

In a departure from the norm, the largest Bitcoin ETF, BlackRock’s iShares Bitcoin Trust (IBIT), did not account for the lion’s share of inflows. Instead, most investors piled into Fidelity Investments’ Wise Origin Bitcoin Fund (FBTC), which accounted for $310 million of the total. In their analysis of recent market developments, the onchain analytics platform CryptoQuant discussed this change in ETF netflow composition. 

“The key change is therefore not simply positive ETF activity, but a clear redistribution of flow leadership: IBIT went from dominating FBTC by nearly six times on September 3 to FBTC recording almost three times IBIT’s holdings netflow on September 18,” CryptoQuant stated in a blog post.

Oil falls as Trump hints at Iran dialogue

A comparatively quiet week for US macro data prints is shifting the focus firmly onto oil as inflation expectations for the remainder of 2026 are adjusting higher.

After spiking above $100 per barrel last week, WTI crude oil traded below $94 on Monday amid hopes of fresh diplomatic efforts to resolve the situation in the Middle East. 

CFDs on WTI crude oil one-day chart. Source: Cointelegraph/TradingView

On Sunday, Majed Al-Ansari, a spokesperson for Qatar’s Foreign Ministry said that attempts to restart talks between the US and Iran had been ongoing “for the past couple of weeks.”

“A lot of ideas have been thrown back and forth,” he told Bloomberg. 

“This is just one iteration of these documents going back and forth, and we’re trying to bridge the gap and find the right moment to move forward.”

In a telephone call with Fox News on Sunday, US president Donald Trump reportedly described his options in the Iran conflict as “wiping Iran out, letting them rot economically, or making a deal.” Trump added that he would “probably be open” to meeting with Iranian president Masoud Pezeshkian at the United Nations General Assembly this week.

Markets see two more Fed rate hikes in 2026

As Cointelegraph reported, the shutdown of several oil-shipping routes has already had knock-on effects for fuel prices worldwide. Even as central banks are tightening policy by hiking interest rates, the full impact of the supply shock is yet to be felt. Last week, Saudi Arabia warned the EU that its refineries would not be receiving shipments in October. 

The latest data from the CME Group’s FedWatch Tool shows that markets now expect the US Federal Reserve to raise its benchmark rate by another 0.25% at its October meeting. The odds of this outcome sit at 53% as of Monday. The CME also shows a near 40% chance of a third 0.25% hike before the end of the year.

Fed target-rate probabilities (screenshot). Source: CME Group

On Tuesday, Federal Reserve Bank of Richmond President Thomas Barkin will speak to the CFA Society Baltimore in an appearance that could shed further light on the Fed’s current inclination on future policy. Barkin is due to provide “insights on the current economic landscape, the latest monetary policy developments, and his outlook for the U.S. economy.”

Analysis sees stocks holding gains as yields cool

US bond yields continued to come down from multidecade highs on Monday as borrowing costs fell with oil’s retreat.

Related: Here’s what happened in crypto today

The US 30-year yield traded at 5.301% on Monday, having cooled from its highs of 5.425% seen on Sept. 11, with these marking its highest levels since June 2004.

US 30-year bond yield one-day chart. Source: Cointelegraph/TradingView

After reacting positively to the announcement of US bond-market interventions in August, Bitcoin market participants continue to monitor any events surrounding yields. In a report for CME on Sept. 16, Jim Iuorio, CEO of JI Financial Strategies, argued that interventions may represent a liquidity tailwind for Bitcoin and crypto markets.

“Perhaps markets viewed these actions as being dollar-negative, pushing money back into dollar hedges like gold and Bitcoin,” he said.

In its latest analysis, Mosaic Asset Company saw the potential for stocks to preserve their own strength amid tightening macro conditions.

“While investors are wondering what the Fed’s rate hiking cycle means for the S&P 500, evidence of strong economic growth should help keep the earnings outlook in tact. As long as the Fed is hiking at a measured pace that doesn’t call into question the growth outlook, the rally in equities can persist,” it summarized at the weekend.

Hyperliquid has added trailing stop orders to its perpetual futures markets, giving traders a way to move their trigger price automatically as a position moves in their favor.

According to Hyperliquid, the new order type tracks the mark price after activation and triggers a market order when the price pulls back from its best level by a distance or percentage selected by the trader.

For a long position, the trailing stop follows the highest mark price reached after tracking begins. For a short position, it follows the lowest mark price. Traders can set an activation price to determine when tracking starts or leave the field empty to begin tracking immediately from the current mark price.

The feature expands Hyperliquid’s existing set of conditional order tools as activity across its perpetual futures platform continues to grow.

Hyperliquid trailing stops follow the mark price

Unlike a fixed stop price, Hyperliquid’s trailing stop adjusts when the market moves in favor of an open position.

For example, a trailing stop attached to a long position will follow the highest mark price reached after activation. If the mark price continues rising, the trigger moves with it. Once the market retreats by the distance or percentage chosen by the trader, the order is triggered.

Short positions work in the opposite direction. The trigger follows the lowest mark price reached since activation and executes once the price rebounds by the configured amount.

Hyperliquid said traders can choose between a fixed distance and a percentage when setting the retracement threshold. An optional activation price lets the user delay tracking until the market reaches a specified level. Without an activation price, the current mark price becomes the starting point.

Once the retracement condition is met, the trailing stop triggers a market order for the selected quantity. Hyperliquid’s existing take profit and stop loss system similarly uses the mark price to determine when conditional orders are triggered, according to the platform’s documentation.

Existing market TP and SL orders carry a 10% slippage tolerance, while limit versions allow traders to specify a limit price to control potential slippage. Hyperliquid warns in its support documentation that the trigger price and actual execution price can differ because the mark price triggers the order before it is filled against available liquidity.

The platform already supports market, limit, stop market, stop limit, take market, take limit, scale and TWAP orders. Its TWAP system breaks larger orders into smaller transactions sent at 30 second intervals, with each suborder subject to a maximum slippage setting.

Perpetual markets have expanded through HIP 3

The trading update follows several changes to Hyperliquid’s perpetual futures infrastructure over the past few months.

In September, Hyperliquid introduced a preliminary testnet upgrade that allows independent HIP 3 deployers to operate permissioned perpetual markets using onchain allowlists. Deployers can manage access themselves or assign the task to sub deployers, while the permissioning system remains optional for HIP 3 markets.

HIP 3 allows outside teams to deploy and operate perpetual markets using Hyperliquid’s infrastructure. The framework has increasingly been used to extend the types of assets and market structures available through the network.

Crypto.news previously reported that Kraken parent Payward has outlined plans to bring regulated Hyperliquid perpetuals to eligible U.S. clients through Bitnomial, subject to regulatory approval.

Under the proposed structure, CFTC regulated Bitnomial would deploy, administer, clear and settle the HIP 3 contracts. NinjaTrader Clearing would carry customer accounts, with access limited to users approved by the participating entities.

The plan followed earlier discussions involving Hyperliquid Labs and Payward over a structure that could make selected perpetual contracts available to U.S. traders without providing direct access to Hyperliquid’s decentralized trading platform.

Hyperliquid Policy Center and trade[XYZ] have pursued a separate regulatory path for commodity linked contracts. In August, the groups asked the Commodity Futures Trading Commission to permit regulated energy perpetuals tied to WTI crude, Brent crude and Henry Hub natural gas.

Their filing said trade[XYZ] had operated perpetual markets on Hyperliquid since October 2025, with cumulative volume exceeding $500 billion. The proposed framework included stablecoin margin, leverage limits and regulated onchain trading infrastructure.

Hyperliquid trading activity remains elevated

Hyperliquid’s derivatives business has continued to generate substantial trading activity as new products and integrations have reached users.

Coinbase brought more than 290 perpetual markets to its Base App through Hyperliquid in August. Eligible users can trade contracts linked to cryptocurrencies, stocks and commodities while remaining inside their existing wallets, with leverage reaching as high as 50 times on supported markets.

Users in the United States, United Kingdom and Canada were excluded from the product when the integration was announced.

Hyperliquid’s revenue has grown alongside trading activity. CoinGecko data published on Sept. 21 showed the platform generated $429.04 million in revenue between Jan. 1 and Sept. 15, accounting for 12.62% of the $3.40 billion revenue pool in the research firm’s adjusted comparison of crypto projects.

The platform’s fee structure directs part of trading revenue toward its Assistance Fund, which purchases HYPE on the open market. Hyperliquid’s documentation lists maker rebates reaching negative 0.003% for qualifying high volume market makers, while accounts linked to more than 500,000 HYPE in staking can receive a 40% trading fee discount.

HYPE has traded near record levels during the expansion. CoinGecko data on Sept. 21 placed the token near $94 after it reached a record $92.56 on Sept. 18 and subsequently moved higher.

The Sept. 18 move coincided with Hyperliquid introducing manual borrowing that lets users supply HYPE or Bitcoin as collateral and borrow USDC or USDT. HYPE carries a 65% loan to value ratio under the system, compared with 50% for Bitcoin.

X is suing two men for allegedly building a network of fake bitcoin news accounts to farm payouts from X’s own creator fund.

The lawsuit names Vivek Kumar Sen and Zmyang Sherpa as the alleged masterminds behind the scheme, with law firm Lewis Silkin LLP representing the platform. At stake is at least 207,000 pounds ($277,000) in disputed creator-fund payouts. Costs for further damages from investigations and remediation are still unquantified.

The lawsuit named nine accounts as part of the alleged network: @Vivek4real_, @Bitcoin_Teddy, @saylordocs, @TrendingBitcoin, @Kalshibacktest, @PolyBackTest, @BTC_Vibes, @MrSuperBitcoin and @Laserlump. These accounts circulated fake “breaking” news headlines that often matched word for word and appeared on X just seconds apart.

Most of these posts made unsubstantiated, unverified claims involving big players in finance to draw mass attention, such as claiming Goldman Sachs’ CEO was pushing a crypto bill or saying Citibank had bought $12.6 million in bitcoin.

The lawsuit further alleges that defendants operated accounts that repeatedly liked, replied to, and reposted these posts to create a facade of false engagement.

Given this contraction in public climate conversations, we wanted to learn from those who are still doing climate communication. What’s working, and how can we amplify it? Here’s what we found.

The first and most important lesson is that talking about climate change means talking about everyday life. When we asked climate newsletter writers, podcast hosts, people who regularly post on social media, and those building climate content for non-profits, their response was clear. Their first priority is to connect the climate crisis to other concerns people face: our jobs, our health, the places we love. They don’t set up climate change as a rival to those worries. Instead, they understand that climate change is already shaping the things people worry about. When we connect the dots between what we love and how climate change threatens it, it becomes obvious that nearly all of us have our own reasons to care and act. 

Elon Musk-owned social media platform X has sued the alleged operators of a network of Bitcoin-focused accounts, seeking to recover at least $278,000 in creator payouts it says they obtained by manipulating engagement.

X filed a lawsuit in the High Court of England and Wales on Thursday against Vivek Kumar Sen, Zamyang Sherpa and unidentified account operators, alleging they fraudulently obtained at least 207,384 British pounds ($278,000) from its creator revenue-sharing program. The court filing is available on X’s Transparency Center.

The company claims the defendants coordinated multiple accounts to boost engagement by reposting and liking one another’s content and publishing identical or substantially similar posts, creating what the company described as a “false appearance of genuine, human communication and interaction.”

X suspended the accounts on Aug. 18 over what it called creator revenue-sharing fraud and platform manipulation.

X links six accounts to two defendants

The lawsuit identifies six accounts enrolled in X’s revenue-sharing program: @Vivek4real_, @Bitcoin_Teddy, @saylordocs, @TrendingBitcoin, @Kalshibacktest and @PolyBackTest.

The filing links Stripe accounts associated with the first three profiles to Sen and those associated with the other three to Sherpa. The accounts joined the program between August 2023 and February 2026.

The network allegedly extended beyond those six accounts. X named @BTC_Vibes, @MrSuperBitcoin and @Laserlump, claiming they repeatedly liked, replied to and reposted content from the defendants’ accounts to manufacture engagement.

How the alleged scheme generated money

Under X’s former creator revenue-sharing program, eligible creators received a share of the platform’s revenue based on the engagement their posts generated from other users.

The filing cites an Aug. 5 example in which @Vivek4real_ and @TrendingBitcoin allegedly published substantially similar posts within 11 seconds of each other.

X retired the revenue-sharing program on Sept. 7 and began rolling out access to its replacement, Original Content Rewards, the following day.

Related: Cardano’s IOG warns users to avoid YouTube channel amid apparent hijack

In addition to the alleged fraudulent payouts, X says it expects at least 75,000 British pounds ($100,000) in investigation and remediation costs, bringing its claimed and projected losses to at least 282,384 pounds before interest and legal costs.

Cointelegraph sought comment through an email address linked to Sen in the filing but had not received a response by publication. Sherpa could not be reached for comment.

Magazine: Who needs CLARITY anyway? ARB could see 70X increase: Hodler’s Digest