Crypto
Upbit-backed GIWA says mainnet is not live, denies RPC leak
GIWA has rejected claims that its mainnet RPC was leaked, saying the Ethereum Layer 2 network has not launched its mainnet.
Summary
- GIWA says its mainnet remains unlaunched, ruling out any leak involving a live mainnet RPC.
- Official documentation lists only GIWA Sepolia testnet RPC endpoints while mainnet infrastructure remains under development.
- GIWA runs on the OP Stack and uses Ethereum as the settlement layer for transactions.
- GIWA Wallet and stablecoin ecosystem products remain labeled Coming Soon on the project website currently.
- Upbit partnered with Optimism to build GIWA under a self-managed OP Enterprise infrastructure model earlier.
The project said on X on Sept. 27 that a mainnet RPC leak was impossible because no mainnet has gone live. GIWA told users to “DYOR” and remain alert to false information and scams circulating before launch.
Official GIWA documentation supports the main point of the clarification. The network’s mainnet section remains marked as under development, while GIWA Sepolia is available as a public test environment.
GIWA mainnet remains under development
GIWA’s connection documentation does not provide a mainnet RPC endpoint. Instead, developers can access the GIWA Sepolia testnet through sepolia-rpc.giwa.io, while a separate Flashblocks test endpoint is available for faster transaction preconfirmation.
Both endpoints are rate limited and intended for development and testing, according to the project’s network guide. GIWA specifically says its mainnet is “currently under development.”
The same distinction appears in GIWA’s smart contract documentation. Its contracts page lists deployed contracts for the Sepolia testnet but leaves the mainnet section marked as under development.
A separate Flashblocks document identifies a working testnet endpoint while listing the corresponding mainnet endpoint as “Coming soon.”
The available documentation therefore supports GIWA’s statement that a public test network exists while the production network has yet to launch.
The clarification follows social-media claims involving what was described as a leaked mainnet RPC. GIWA did not identify the accounts or URLs behind those claims in the statement supplied for this report.
No evidence provided by GIWA indicates that its Sepolia testnet RPC was compromised. The project’s response specifically addresses claims involving the unlaunched mainnet.
GIWA uses OP Stack for its Ethereum Layer 2
GIWA is an Ethereum Layer 2 built with the OP Stack, the open-source software framework maintained within the Optimism ecosystem.
Its technical documentation describes a one-second block time and compatibility with Ethereum Virtual Machine development tools. Developers can deploy Solidity contracts using tools already common in Ethereum development.
The network uses a sequencer for block production, while Ethereum provides the Layer 1 environment underlying GIWA’s settlement architecture. The current design specifies a 60 million block gas limit and one-second block intervals.
Unlike some Layer 2 networks, GIWA does not currently advertise a separate native token. Its FAQ says ETH is used as the base asset and for transaction fees, while stablecoin-based fee payments may be supported later through a Paymaster system.
Upbit’s involvement became public earlier in 2026. Upbit partnered with Optimism to build GIWA using the OP Stack under the Self Managed OP Enterprise tier.
The arrangement allows Upbit to manage its own infrastructure while receiving technical support and failover services from Optimism, according to the report. Sequencer control gives the operator responsibility for ordering transactions on the network.
GIWA’s own documentation describes the chain as “Powered by Upbit” and positions it as infrastructure linking users, developers and liquidity to Web3 applications.
GIWA Wallet and stablecoin products remain unfinished
GIWA’s public website shows that several planned products have not yet entered general release. The official site lists GIWA Wallet as “Coming Soon.” It describes the wallet as a self-custody product designed for GIWA Chain with multichain support and integrated views of exchange assets.
A planned stablecoin ecosystem carries the same status. GIWA says it intends to support stablecoin payments involving Korean won and global stablecoins, including Paymaster infrastructure that could allow stablecoins to cover transaction fees.
The project currently directs developers toward its testnet instead. Test ETH is available through a faucet, and developers can use GIWA Sepolia for smart contracts, wallet integrations and other testing before production deployment.
GIWA’s smart contract development guide supports Foundry, Hardhat and Remix IDE. Applications can use Solidity or other EVM-compatible tools because the network follows Ethereum’s execution environment.
The node documentation provides a similar test-focused setup. Developers can run their own GIWA node or use the free Sepolia RPC endpoint, while the project recommends external node services for future production workloads.
Upbit continues building around blockchain infrastructure
GIWA forms one part of Upbit operator Dunamu’s efforts to expand beyond centralized exchange trading.
The project’s website describes on-chain identity, data oracle services, a wallet and stablecoin payments among planned components. Some remain in development as GIWA progresses toward a production network.
Upbit has previously had to clarify reports concerning unreleased blockchain products. Crypto.news reported in July that the exchange rejected claims it was participating in issuing Open USD after Dunamu appeared on a list connected to the stablecoin initiative.
At the time, Upbit said it had not agreed to issue or launch the dollar-backed stablecoin. Several other South Korean companies named in the same initiative similarly denied having made formal commitments.
GIWA’s current clarification is narrower. It concerns technical claims about an RPC endpoint and states only that no GIWA mainnet has been launched.
The project’s public documentation does not provide a mainnet launch date. Its connection, contracts and Flashblocks pages continue to show mainnet features as being under development or coming soon.
Crypto
XRP Price Slides 2.9% as $1.50 Reclaim Becomes Critical
XRP lost its $1.50 price pivot today, sliding to $1.47 after a daily decline of about 3%. The break forces a binary question onto the chart: does the selling pressure showing up in spot-market volume resolve into a quick reclaim, or does it open the door to a deeper slide toward $1.40-$1.42?
The 200-day EMA is near $1.37, the level that would flip the medium-term structure from bullish to neutral. The token has been printing lower highs since a local peak near $1.63 on September 23, and a second attempt to clear $1.60 on September 25 failed as well. Since then, the decline has been slow and orderly: $1.55, then $1.52, then $1.50, and now $1.47.
There was no single dramatic session driving the move. Instead, the pattern reads as buyers simply not showing up, with every small bounce getting sold rather than extended. After the sharp rally in early September, that kind of cooling was overdue, but the open question is whether $1.50 was ever real support or just a round number the market is now testing.
Earn $50 and Enter $300K Prize Draw on EdgeX
ETF Accumulation Narrative or Technical Pullback?
The chart itself frames this as a cooling-off period following the rally that carried the XRP price up nearly 50% from its August low near $1.00. RSI sits at a neutral 54, with no overbought or oversold readings to lean on. Price levels, not oscillators, are setting the tone for this week.

Separately, market data has pointed to sustained spot XRP ETF inflows running into the hundreds of millions of dollars over recent weeks, a trend some trackers frame as ongoing institutional accumulation beneath the price action. That flow data is useful context, but it is not confirmed as the driver of Monday’s drop, as the pullback below $1.50 traces cleanly to failed resistance tests and fading bid support.
The medium-term structure remains intact for now. XRP sits above its 200-day EMA at $1.37, which is curling upward for the first time since spring. This is a sign the longer trend has not broken, even as the shorter-term chart bleeds lower. A descending trendline from the late-August spike to $1.70 was cleared in mid-September, and that breakout is what fueled the run to $1.67 in the first place.
A second descending trendline, drawn from the September 23 high, is now the line bulls need to clear in October; left alone, it points toward $1.20 by mid-November. The levels on both sides of the current price are well defined.
Trade XRP on Bybit and Get a Chance to Win Our $1,000 USDT Airdrop
Reclaim $1.50 or Risk $1.37: XRP Price Next Move
The first job for bulls is straightforward: close a daily candle back above $1.50. Do that, and Monday’s drop reads as a fakeout rather than a breakdown, with $1.55 as the next confirmation level and $1.60-$1.63 as the target that would put the September 23 high back in play.
Fail to reclaim $1.50 in the next day or two, and $1.40-$1.42 becomes the level to watch, with the 200-day EMA at $1.37 as the line that actually matters for the medium-term outlook. A close below it would shift Ripple’s native asset from a bullish structure to a neutral one, opening room toward $1.30 and, in a broader crypto market sell-off scenario, $1.20.
For this week, the range is $1.37 to $1.60, with $1.50 sitting as the pivot in between. On technical analysis grounds, the base case is a dip toward $1.40-$1.42 that gets bought, followed by another attempt at reclaiming $1.50. A pattern consistent with pullbacks inside an uptrend rather than the start of a new downtrend.
The $1.80-$2.00 zone remains the valid medium-term target as long as $1.37 holds; lose it, and that target moves out of reach for the immediate term.
Discover: The Best Token Presales
The post XRP Price Slides 2.9% as $1.50 Reclaim Becomes Critical appeared first on Cryptonews.
Crypto
Crypto’s New Frontier: Casinos, Perpetuals and Tokenized Stocks Blur the Line Between Trading and Betting
The crypto industry has always had a talent for reinvention, but the latest wave of headlines suggests the technology is stretching in directions that would have seemed unlikely even a few years ago. From live-dealer blackjack tables in crypto casinos to decentralized lending platforms letting users borrow against tokenized tech stocks, the sector is increasingly less about buying and holding Bitcoin and more about building financial infrastructure that mimics, and sometimes outpaces, traditional markets.
A cluster of recent industry reports paints a picture of an ecosystem expanding on several fronts at once: gambling products tailored to crypto-native audiences, new token listings on exchanges, prediction markets built around Federal Reserve policy, sprawling perpetual futures platforms, and DeFi protocols that now let users tap into equity-like assets on-chain.
Casinos Go Crypto-Native
One notable trend is the popularity of live blackjack tables over roulette wheels in crypto casino lobbies. While roulette has long been a staple of online gambling, live blackjack’s format — fast-paced, skill-adjacent, and well suited to the instant settlement crypto payments allow — appears to resonate more with the demographic drawn to digital-asset betting platforms. It’s a small but telling signal of how crypto rails are reshaping consumer gambling habits, favoring games that reward quick decision-making and frequent turnover, much like trading itself.
New Listings Keep Coming
Token listings remain a steady drumbeat in the industry. Dexsport’s DESU token landing on the MEXC exchange is the latest example of a gambling-adjacent crypto project seeking wider liquidity and exposure through a major listing. For platform users, listings like this typically matter less for speculative price action and more for what they signal about a project’s staying power and its ability to attract mainstream trading volume.
Betting on the Fed
Beyond gambling and token launches, prediction markets have emerged as a genuine barometer of macroeconomic sentiment. Traders are increasingly using these platforms to stake positions on Federal Reserve rate decisions expected in late 2026, treating monetary policy itself as a tradable event. This reflects a broader maturation of prediction markets, which have moved well beyond sports and elections to become tools for hedging and speculating on interest rates, inflation prints, and other traditionally opaque policy outcomes — all settled transparently on-chain.
Leverage Everywhere
Perhaps the most striking development is the sheer breadth of assets now available for leveraged trading. Platforms like ApeX Omni are offering more than 120 perpetual futures markets, spanning everything from Bitcoin and major altcoins to pre-IPO robotics companies. That such a wide net can be cast — letting traders take leveraged positions on private companies that haven’t even gone public — underscores how far crypto derivatives have moved from their origins in simple Bitcoin futures. It also raises familiar questions about risk: leverage across dozens of niche and illiquid markets can amplify losses just as easily as gains, and traders navigating these venues need to understand how margin requirements and funding rates shift across such a diverse product suite.
DeFi Meets Wall Street
Meanwhile, decentralized finance continues its slow merger with traditional capital markets. Aave’s fourth version reportedly allows users to borrow USDC against tokenized versions of Coinbase-listed tech stocks on the Base network. This kind of integration — collateralizing real-world equities within a DeFi lending protocol — is a concrete step toward the long-promised convergence of crypto and traditional finance, letting holders of tokenized shares access liquidity without selling their underlying positions.
The Bigger Picture
Taken together, these developments illustrate an industry that is simultaneously chasing entertainment dollars, macro traders, derivatives enthusiasts, and DeFi users seeking exposure to equities — all under the same broad crypto umbrella. The common thread is infrastructure: exchanges, casinos, lending protocols, and prediction markets are all racing to make more asset classes tradable, borrowable, or bettable through blockchain rails.
Whether this diversification represents durable innovation or simply more surface area for speculation remains an open question. What’s clear is that crypto in late 2026 looks less like a single asset class and more like a parallel financial system, one where a Fed rate decision, a pre-IPO robotics firm, and a hand of blackjack can all be found in the same app.
Crypto
Crypto’s New Playground: Casinos, Fed Bets, and Tokenized Stocks Blur the Line Between Trading and Gambling
The crypto industry has always had a talent for reinventing itself, but the latest wave of product launches suggests the industry is heading somewhere new: a place where trading, betting, and borrowing are becoming almost indistinguishable from one another. A cluster of recent developments — spanning live-dealer casino games, a new token listing tied to decentralized betting platforms, prediction markets built around Federal Reserve policy, sprawling perpetual futures exchanges, and DeFi protocols that let users borrow against tokenized shares of tech companies — paints a picture of an ecosystem racing to fuse speculation of every stripe into a single, crypto-native experience.
Take the world of crypto casinos, where live blackjack tables have reportedly begun to crowd out roulette wheels in lobby rankings. The dynamics driving that shift echo something familiar from traditional gambling: player preference for games that reward skill and pacing over pure chance. Blackjack lets players make decisions — when to hit, stand, split, or double down — giving a sense of agency that a spinning roulette wheel simply can’t replicate. In an industry built around instant, low-friction transactions using digital assets, that appeal seems to translate directly into engagement, with live-streamed dealers adding a layer of social, real-time theater that slot-style games lack.
That same appetite for interactive, decision-driven products is showing up elsewhere. Dexsport, a decentralized betting and casino platform, recently saw its native token, DESU, listed on the exchange MEXC — a milestone that matters less for the listing itself than for what it signals about the sector’s maturation. Token listings on major exchanges typically bring liquidity, visibility, and a degree of legitimacy that smaller platforms struggle to achieve on their own. For everyday users, a listing like this often translates into easier on-ramps, more trading pairs, and a stronger case that the underlying platform is being taken seriously by the broader market rather than treated as a niche experiment.
Meanwhile, speculation is moving well beyond games of chance and into the realm of macroeconomic policy. Prediction markets tracking the Federal Reserve’s interest rate decisions have become one of the more closely watched corners of crypto-adjacent finance heading into the back half of 2026. Traders on these platforms are effectively placing wagers on central bank behavior, turning monetary policy announcements into tradeable events. The appeal is straightforward: instead of relying solely on bond markets or futures tied to traditional finance, participants can now stake positions directly on whether the Fed will hold, cut, or raise rates, often with faster settlement and more granular contract structures than legacy markets offer. It’s a sign that prediction markets, once dismissed as a curiosity, are increasingly viewed as a legitimate barometer of trader sentiment on issues far removed from crypto prices themselves.
The appetite for exotic exposure is also evident in the perpetual futures space, where platforms like ApeX Omni have expanded their offerings well past the usual roster of Bitcoin and Ethereum contracts. With well over 120 perpetual markets now available, traders can reportedly take leveraged positions not just on major cryptocurrencies but on themes as far-flung as pre-IPO robotics companies. This kind of expansion reflects a broader trend of crypto exchanges positioning themselves as all-purpose speculation venues, offering leverage on virtually any asset class that generates enough trader interest — blurring the boundary between crypto trading and speculative bets on private, pre-public companies that would otherwise be inaccessible to retail investors.
Perhaps the clearest example of crypto finance colliding with traditional markets comes from Aave’s newest iteration. The protocol’s fourth version reportedly allows users to borrow USDC stablecoins against tokenized versions of Coinbase-linked tech stocks on the Base network. In practice, that means holders of tokenized equity exposure can unlock liquidity without selling their underlying positions — a mechanic long familiar to DeFi users who collateralize crypto assets, now extended to tokenized real-world securities. It’s a small but telling step toward a future where the wall between “crypto” and “traditional markets” continues to erode, with stocks, bonds, and other conventional assets increasingly represented on-chain and woven into the same lending and borrowing infrastructure that powers decentralized finance.
Taken together, these developments underscore a consistent theme: crypto platforms are no longer content to simply trade digital coins. They are building out entire ecosystems of speculation — casino games, prediction markets, leveraged derivatives, and collateralized lending — all designed to keep users engaged, liquid, and constantly exposed to new forms of risk and reward. Whether this convergence produces a more mature, diversified financial ecosystem or simply amplifies the volatility and risk-taking crypto is already known for remains an open question. What’s clear is that the industry’s appetite for expansion shows no signs of slowing down.
Crypto
When AI Met Crypto: A Season of Super-PACs, Prompt-Injection Heists and Vape-Pen Blockchains

If there was a single theme running through the crypto world’s headlines this spring and summer, it was this: the industry that once promised to reinvent money has increasingly fused itself to the industry promising to reinvent everything else — artificial intelligence.
The result, according to a string of reports and commentary tracked by researcher-journalist Molly White and blogger David Gerard, is a landscape where political money, security failures and marketing absurdity are all converging in ways that ought to worry anyone paying attention.
Start with the money in politics. In a recent interview, White — who has spent years cataloguing where crypto industry cash flows in Washington — turned her attention to a new wrinkle: artificial intelligence companies adopting the same political playbook that crypto firms pioneered.
According to the discussion, OpenAI and Anthropic are now effectively running competing pro-AI super-PACs, pouring money into races much the way crypto-aligned PACs like Fairshake have done in recent election cycles. White reportedly highlighted a botched intervention in New York’s 12th congressional district as an example of the sums involved and the risk of these efforts backfiring.
The parallel is not incidental. Crypto’s political spending playbook — deploy industry money to shape friendly regulation and punish critics — was built over several election cycles and proved remarkably effective at getting crypto-friendly candidates elected and skeptics sidelined.
Watchers like White argue that AI companies, facing their own looming questions about regulation, safety and liability, are now borrowing that same toolkit almost wholesale. Whether AI’s political spending proves as consequential as crypto’s remains to be seen, but the early signs suggest deep-pocketed AI labs are not content to leave the lobbying playing field to blockchain interests alone.
Money and politics aside, the more immediate crypto news has been considerably more chaotic on the technical side. A case in point: an unofficial crypto wallet built on top of Elon Musk’s Grok AI was reportedly compromised through a combination of an NFT and a prompt injection attack — a technique in which malicious instructions are hidden inside content an AI model processes, tricking it into taking unauthorized actions.
The episode is being cited by critics as a vivid illustration of what happens when experimental AI agents are given direct access to cryptocurrency funds without adequate safeguards. As one commentator put it, the incident underscores a blunt truth: the push toward “agentic commerce,” in which AI systems autonomously manage transactions and wallets on a user’s behalf, currently looks a lot like an open invitation to fraud.
That warning fits a broader pattern. Crypto’s history is littered with hacks and exploits that followed hard on the heels of new technical hype cycles — DeFi protocols, bridges, NFT marketplaces — and the addition of AI agents with wallet access appears to be simply the latest frontier for attackers to probe.
Security researchers have long cautioned that combining large language models, which can be manipulated through carefully crafted inputs, with systems that move real money is a combination that demands far more rigorous testing than the industry has so far shown appetite for.
Then there is the sheer commercial strangeness of the AI-crypto convergence. Among the products making the rounds is “Gudtrip,” described in coverage as an AI agent vape pen built with blockchain technology — a mash-up that manages to combine three separate hype cycles (AI, crypto, and vaping) into a single device.
It’s the kind of product that invites eye-rolls even from people steeped in the industry, and it has become something of a symbol for critics who argue that “blockchain” and “AI agent” are increasingly being slapped onto unrelated consumer goods simply because the buzzwords still move product.
Labor practices are also getting the AI-crypto treatment. Reports have surfaced of AI companies experimenting with paying staff in AI-linked tokens rather than conventional money — an arrangement that echoes crypto’s long history of compensating workers and contractors in volatile, illiquid tokens instead of cash. Critics have been quick to note the obvious problem: a token’s value depends entirely on continued enthusiasm for the company issuing it, leaving employees exposed to exactly the kind of speculative risk that traditional salaries are designed to avoid. The practice, if it spreads, would import one of crypto’s more employee-unfriendly habits directly into the AI industry’s compensation structures.
Not everyone covering this convergence is doing so with a straight face. A satirical piece making the rounds — structured as a twist on the old “two cows” economics joke — skewered the fintech, AI, blockchain and crypto sectors in one go, imagining a “crypto” cow story where two digital cows produce “milk tokens” tradeable for millions but drinkable only by avatars in the metaverse, and a “hedge fund” version featuring robotic cows that befriend real cows just to steal their milk.
Silly as the format is, the satire lands because it captures something real: a sense among observers that these overlapping industries have become adept at generating elaborate financial and technical narratives that produce headlines and valuations long before they produce anything resembling durable value.
Taken together, these threads — political spending mirroring crypto’s playbook, an AI wallet hacked via prompt injection, blockchain-branded vape pens, token-based salaries, and no shortage of pointed satire — paint a picture of an industry moment defined less by a single breakthrough than by rapid, sometimes reckless, cross-pollination.
Crypto spent the better part of a decade building the infrastructure, the political machinery and the marketing instincts for turning speculative technology into cultural and financial weight. Now AI companies appear to be absorbing many of the same instincts, for better or worse, at a pace that leaves regulators, security researchers and workers alike scrambling to keep up.
Editor’s note: Much of the reporting referenced above originates from commentary and short-form blog coverage rather than in-depth investigative reporting, and some details — such as the specific financial scale of AI super-PAC spending or the full technical mechanics of the Grok wallet exploit — were not independently verifiable from the available material. Readers should treat figures and claims here as preliminary pending fuller reporting.
Crypto
Nearly half the stocks in the S&P 500 are at cross purposes with the rest of the market
U.S. oil drilling site.
David McNew | Getty Images
Nearly half of the stocks in the S&P 500 are moving against the index with a negative beta, an unusual divergence that is becoming increasingly difficult to ignore.
About 45% of S&P 500 stocks have a negative three-month beta, according to a recent note from Goldman Sachs. The data closely aligns with CNBC’s finding that nearly 40% of S&P 500 stocks had a negative three-month beta versus the index, while 17% have a negative one-year beta, based on weekly returns.
Beta measures how a stock moves relative to the rest of the market. A negative beta means an individual stock’s returns moved in the opposite direction of the S&P 500 over the measured period.
The surge in stocks with a negative beta dovetails with other unusual market signals. The S&P rallied 1.5% last Monday. The same day 30 stocks touched a 52-week low while just 7 scored a new high. The last time the S&P 500 gained at least 1% while sitting within 1% of a new 52-week high and new lows outnumbered new highs was in December 1999, right before the very top of the dot-com boom, according to Jason Goepfert, founder of SentimenTrader.
The two indicators show that market indexes can remain at or close to records despite wide divergences among individual stocks.
Widening divide
The yawning gap largely reflects how concentrated the S&P 500 has become, according to Adam Turnquist, chief technical strategist at LPL Financial.
Mega-cap technology companies carry an outsized weight in the benchmark, meaning a strong performance from a small number of stocks can drive the index even when many others are moving the other way.
“It only takes a few of those mega caps names to work, and a lot of the smaller weighted stocks don’t need to work,” Turnquist told CNBC, pointing to unusually low correlations among S&P 500 stocks.
The same dynamic explains why the broader index can look relatively calm even when individual stocks are making large moves, said Bradley Krom, director of investing strategy at WisdomTree.
“Beta is a function of correlation and volatility,” Krom said. When stocks experience large moves at different times and for different reasons, those moves can largely offset one another at the index level.
In July this year, Alliance Bernstein, using one-year trailing returns, found an unprecedented share of U.S. stocks displaying negative beta as AI winners powered market gains.
Semiconductor makers, hardware companies and other AI infrastructure beneficiaries have benefited from enormous capital spending, while companies outside the AI trade have struggled to keep up.
“But a narrow market can also distort the signal investors receive from index returns. When a handful of companies dominate performance, many financially sound businesses may lag or even decline, simply because they aren’t tied directly to the most powerful market narrative,” wrote Kurt Feuerman, chief investment officer of Select U.S. Equity Portfolios at AllianceBernstein.
Negative energy
Energy stocks with negative beta are being driven by different forces.
“Another part of the other story is energy. That’s been pronounced this year: higher oil prices, higher energy stocks and then the rest of the market trades lower,” said Turnquist, seeing energy as an important part of the negative-beta story, alongside more defensive sectors.
Earlier this month, Evercore ISI used a six-month measure to call out 115 S&P 500 stocks with negative beta, a list skewed toward energy, utilities and consumer staples. The investment bank called the energy sector a “synthetic S&P 500 put option” because of the way it has reacted to geopolitical pressure.
If market leadership broadens out, Turnquist believes the number of negative-beta stocks could decline. But he expects dispersion to remain elevated as investors become remain selective toward beneficiaries of AI spending and seek returns there.
Krom at WisdomTree expects the recent extreme readings to eventually revert to the mean. Similar spikes appeared around the 1999-2000 dot-com bubble, he said, when market concentration and large moves in a narrow group of stocks also triggered unusual divergences.
Turnquist pushed back on comparing today with the dot-com era, leading tech companies now are more mature businesses with established revenue and products. Krom is on the same page. He said the individual pieces driving returns don’t have the same historical relationship they’ve had in the past.
“It is not the same market environment now versus 2000,” Krom said. The negative betas seen today boil “down to the amount of market concentration.”
Crypto
Crypto’s Quiet Mainstreaming: From Wall Street Trading Desks to Weeknight Spending Habits
Cryptocurrency no longer lives only in trading app screenshots and speculative headlines. A cluster of recent coverage suggests digital assets have settled into three very different corners of everyday life at once: the boardrooms of family offices moving nine-figure sums, the phones of ordinary Britons paying for a night out, and a growing ecosystem of explainer sites trying to make sense of it all for newcomers. Taken together, they paint a picture of an asset class that has stopped trying to prove itself and started simply getting used.
At the top end of the market, the mechanics of moving serious money in crypto increasingly mirror what has long happened on Wall Street. Selling a large position on the open market is a blunt instrument — dump a $20 million order into a standard exchange and the price can slide five to ten percent against you before the trade even completes, as algorithms and bots react to the visible order book.
High-net-worth investors and family offices have borrowed a page from traditional equities to avoid that problem, leaning on block trades negotiated privately between two parties and reported only after execution, dark pools where institutional orders are matched away from public view, and OTC desks that lock in a price before a trade ever touches the open market.
None of these tools are new in spirit — block trading dates back to the 1960s, and banks such as Credit Suisse pioneered dark-pool venues in the mid-2000s — but their extension into crypto shows how thoroughly digital assets have been absorbed into the plumbing of institutional finance, complete with all its discretion and negotiated pricing.
Further down the market, the story is less about avoiding slippage and more about convenience. A growing share of everyday spenders now treat crypto the way they treat a contactless card — something to tap and forget.
Much of that shift traces back to apps like Revolut, which began as a travel card and has since folded budgeting tools, instant transfers and built-in crypto purchases into a single interface. For users already comfortable buying fractions of Bitcoin or Ethereum on their phone, spending a small slice of a holding online no longer feels like a leap. Recent Pew Research figures cited in industry coverage suggest roughly one in five adults have used cryptocurrency in some form, evidence of just how far the technology has travelled from niche forums into ordinary financial habits. Faster networks and pound- or dollar-pegged stablecoins have also softened the volatility fears that once made spending crypto feel reckless.

That spending habit has, in turn, fed into digital entertainment, where a wave of offshore-licensed sites — often based in Malta, Curaçao or Gibraltar — have built their appeal specifically around crypto and app-based payments such as Revolut, alongside larger game libraries and bigger sign-up bonuses.
These platforms sit outside the UK’s domestic licensing system, which is precisely the draw for some users, including those who have self-excluded through Gamstop. The logic mirrors a broader pattern researchers have tracked in crypto adoption more generally: users start on a single centralised platform for convenience, then gradually spread activity across multiple services and self-custodied wallets as they grow more comfortable, seeking flexibility rather than a single gatekeeper. It’s worth being clear-eyed about what this means in practice — these offshore sites operate under lighter regulatory oversight than UK-licensed operators, and readers weighing them should treat player-protection tools and responsible-gambling warnings as essential reading, not fine print to skip.
Feeding all of this is a parallel boom in explainer content trying to translate crypto’s jargon — DeFi, staking, tokenomics, smart contracts — into plain English. Sites such as RobTheCoins.com have positioned themselves as educational hubs rather than exchanges or wallets, publishing guides on blockchain business models, crypto tax tools and the overlap between gaming and crypto economies.
That distinction matters, because the line between “content that explains crypto” and “a product that handles your money” is not always obvious to a casual reader, and confusing the two is exactly the kind of mistake that has burned newcomers before.
None of this amounts to a single dramatic headline. There is no exchange collapse or regulatory crackdown driving this particular news cycle. Instead, what emerges is a quieter, arguably more consequential trend: crypto is being absorbed into the ordinary architecture of modern finance and leisure, from the trading desks of the ultra-wealthy down to a tap-to-pay night out.
Whether that mainstreaming is entirely healthy is a separate question. Institutional tools like dark pools and OTC desks still lack the transparency of public markets, offshore gambling platforms carry real consumer-protection gaps, and no amount of friendly explainer content changes the fact that crypto remains a volatile, largely unregulated asset in most jurisdictions.
Readers tempted by any part of this ecosystem — whether it’s a block-trading conversation or a crypto-funded casino account — would do well to verify claims independently, check who is actually regulated, and remember that accessibility is not the same thing as same thing as safety.
Crypto
Convicted cybercriminal arrested in connection with ShinyHunters group
A 24-year-old convicted cybercriminal was arrested in the Netherlands on September 16 on suspicion of aiding crypto hacking collective ShinyHunters.
Krebsonsecurity reports that Pepijn van der Stap was detained by Dutch authorities for questioning in relation to ShinyHunters.
Police claim he’ll appear in the Rotterdam District Court on September 29, while local news reports the United States is also involved in his case.
Over three years ago, van der Stap carried out multiple acts of data theft and extortion under the moniker “Umbreon.”
Read more: Crypto hacking group ShinyHunters says it stole data of 5,000 FBI agents
Van der Stap was eventually arrested, convicted, and handed a four-year suspended sentence. He was released in December 2025.
While carrying out his criminal activities, he worked at cybersecurity startup Hadrian and volunteered at the nonprofit Dutch Institute for Vulnerability Disclosure.
He’s currently the offensive security lead at Neo Security, and described himself to Krebsonsecurity as a reformed convict.
ShinyHunters attacked FBI days after van der Stap’s arrest
Just six days after van der Stap’s arrest, ShinyHunters claimed responsibility for hacking and stealing the data of 5,000 FBI agents.
This attack also manipulated the FBI’s job page to display a picture of the Pokémon Umbreon.
Krebsonsecurity reports that the attack represented a shift in ShinyHunters’ usual attacks while the group is under the leadership of a teenager based in Amman, Jordan, who goes by the nickname “Rey.”
Rey reportedly merged the group with fellow hacking groups Scattered Spider and LAPSUS$ to become ScatteredLapsussHunters.
Read more: Crypto hackers target Hinge and Match Group in data leak
Sources close to the ShinyHunters investigation told the publication that Rey had “ongoing beef” with van der Stap, and that Umbreon’s inclusion was possibly an attempt by Rey to shift blame towards van der Stap.
ShinyHunters has also been linked to the hacking of the Netherlands telecommunications provider Odido last February.
Personal data, including bank account and passport numbers, of six million Odido customers were leaked.
Got a tip? Send us an email securely via Protos Leaks. For more informed news and investigations, follow us on X, Bluesky, and Google News, or subscribe to our YouTube channel.
Crypto
Strategy buys 1,665 BTC and repurchases $152M STRC
Strategy has acquired another 1,665 BTC for approximately $142.7 million while spending $151.7 million to repurchase STRC preferred shares during the week ended Sept. 27.
Summary
- Strategy bought 1,665 BTC for $142.7 million, lifting total Bitcoin holdings to 847,666 coins overall.
- Strategy repurchased 1,534,530 STRC shares for $151.7 million during the September 21 to 27 period.
- MSTR sales generated $246.2 million net proceeds, with no preferred shares issued during the week.
- Strategy held $5.02 billion in USD Reserve and $1.00 billion in deployable USD Cash overall.
- Bitcoin holdings cost $63.95 billion in aggregate, averaging $75,437 per coin including fees and expenses.
Strategy disclosed the transactions in a Sept. 28 Form 8-K, showing that the company paid an average of $85,681 per BTC, including fees and expenses, between Sept. 21 and Sept. 27. The purchase lifted its Bitcoin holdings to 847,666 BTC.
During the same period, Strategy sold 1,469,165 MSTR shares through its at-the-market program, generating $246.2 million in net proceeds. Of that amount, $142.7 million funded the Bitcoin purchases and $103.5 million went toward STRC repurchases.
The company issued no STRF, STRC, STRK or STRD preferred shares through its ATM programs during the week.
Strategy Bitcoin holdings reach 847,666 BTC
Following the latest purchase, Strategy held 847,666 BTC acquired for an aggregate $63.95 billion. Its average acquisition cost stood at $75,437 per BTC, including fees and expenses.
The latest addition follows Strategy’s 950 BTC purchase after a two-week buying pause reported for the previous week. The company spent $75.7 million on that acquisition at an average price of $79,670 per BTC, increasing holdings at the time to 846,000 BTC.
Strategy’s new $85,681 average purchase price for the Sept. 21-27 period was above Bitcoin’s latest market price. CoinGecko shows BTC trading near $83,401 at the latest reading, around 2.7% below Strategy’s average price for the latest purchase.
At that market price, Strategy’s 847,666 BTC position would be worth roughly $70.7 billion. The calculation uses a live market price and therefore differs from the company’s recorded acquisition cost.
STRC repurchases reach another $151.7 million
Alongside the Bitcoin acquisition, Strategy repurchased 1,534,530 shares of its Variable Rate Series A Perpetual Stretch Preferred Stock, or STRC, for approximately $151.7 million.
The latest transaction continues a repurchase program that Strategy began earlier in 2026. After the latest week, $723.5 million of authorization remained under its digital credit securities repurchase program, according to the filing.
Strategy’s previous $174 million STRC repurchase came during the Sept. 14-20 period, when the company spent more on preferred-stock repurchases than on its $75.7 million Bitcoin purchase.
Earlier in September, Strategy doubled its digital credit securities repurchase authorization to $2 billion after spending $176.3 million on STRC during a week when it bought no Bitcoin.
Strategy said in July that it intends to repurchase STRC while the preferred stock trades below its $100 stated amount, subject to market conditions, liquidity and other capital priorities.
MSTR sales funded both transactions
Strategy financed the latest Bitcoin purchase and part of the STRC repurchase through MSTR common-stock sales.
The company raised $246.2 million in net proceeds by selling 1,469,165 MSTR shares between Sept. 21 and Sept. 27. The filing assigns $142.7 million of those proceeds to Bitcoin purchases and $103.5 million to STRC buybacks.
A further $48.1 million of the STRC repurchase came from Strategy’s USD Cash balance. Over the same period, the company used $22.1 million from its separate USD Reserve to pay preferred-stock dividends.
Strategy reported $18.84 billion of additional MSTR issuance capacity under its ATM program as of Sept. 27. No preferred shares were sold during the latest reporting period.
The latest funding structure differs from the previous week, when Strategy made no ATM stock sales and used existing cash to fund its Bitcoin purchase and STRC repurchases.
Strategy keeps $6.02 billion in dollar assets
Strategy ended Sept. 27 with a $5.02 billion USD Reserve and $1.00 billion in USD Cash, giving the company a combined $6.02 billion across the two balances.
The company defines the USD Reserve as capital designated to support preferred-stock dividends and interest payments on outstanding debt. USD Cash is maintained separately for Bitcoin purchases, reserve additions, capital management and other treasury uses.
The cash framework has changed materially since July, when Strategy built a $3.75 billion reserve while Bitcoin buying remained paused.
Strategy’s board expanded its STRC repurchase program during September while continuing to manage Bitcoin purchases, common-stock issuance and preferred-stock obligations through separate pools of capital.
As of Sept. 27, the company still had $723.5 million available under its digital credit securities repurchase authorization and $1 billion available under its separate MSTR common-stock repurchase program.
Crypto
Tether says it helped freeze $550M in Iran-linked USDT
Tether has said it helped freeze nearly $550 million in Iran-linked USDT this year as U.S. authorities targeted wallets tied to the Central Bank of Iran and other sanctioned networks.
Summary
- Tether said more than $344 million was frozen across two addresses in April.
- A July action froze more than $130 million across four additional TRON wallets.
- The U.S. Treasury has named digital assets among five sectors covered by expanded Iran sanctions.
- Tether said its law enforcement work has helped freeze more than $4.9 billion globally.
Tether said on Sep. 28 that it acted on information from the Treasury Department’s Office of Foreign Assets Control and U.S. law enforcement when more than $344 million in USDT was frozen across two addresses in April. OFAC added the same addresses to the Central Bank of Iran’s sanctions entry the following day. The entry also identifies links to the Islamic Revolutionary Guard Corps-Qods Force and Hezbollah.
In July, more than $130 million was frozen across four other wallets as Treasury added four TRON addresses to the central bank’s designation. Tether put its total for Iran-linked USDT freezes in 2026 at approximately $550 million. Its announcement gave the amounts for the April and July actions but did not itemize every freeze included in that total.
The July action was previously covered by crypto.news, which reported that the four TRON wallets held about $131 million in USDT. Treasury Secretary Scott Bessent said at the time that OFAC had sanctioned multiple wallets tied to Iran’s central bank.
Tether froze two wallets before OFAC listed them
The order of the April steps is central to Tether’s account. According to the company, it supported the freeze after U.S. authorities supplied information about the two addresses; OFAC then formally listed those addresses as digital currency identifiers for the Central Bank of Iran.
Earlier reporting on the April $344 million freeze identified roughly $213 million in one TRON wallet and $131 million in another. The restrictions applied to the USDT held at the addresses. They did not require the TRON network itself to stop processing transactions.
Tether CEO Paolo Ardoino said public blockchains let authorities follow fund movements and that the company can act when law enforcement provides credible information. He described USDT as “not a haven for sanctioned actors, terrorist organizations or criminal networks.” His statement sets out the company’s position; the wallet designations and freeze amounts are separate actions reported by OFAC and Tether.
The issuer said it has aligned its freezing policy with OFAC’s Specially Designated Nationals list, including listed wallets that hold USDT after its initial issuance. A freeze prevents tokens at a blocked address from moving. It is distinct from a government seizure or a court order transferring ownership of the assets.
Treasury has expanded Iran sanctions to digital assets
Treasury launched Operation Economic Outcast on Aug. 24 and named digital assets alongside technology, gold, aviation and shipping in five new sectoral sanctions determinations. The department said the measures expanded its authority to target foreign people and companies operating in or supporting those sectors of Iran’s economy.
For U.S. businesses and individuals, OFAC designations carry direct transaction restrictions when a listed party or its blocked property is involved, unless an exemption or license applies. Treasury has also warned foreign firms about possible sanctions exposure for facilitating Iranian sanctions evasion. Those are Treasury’s stated rules and warnings, rather than a new restriction created by Tether’s announcement.
On Sep. 17, OFAC designated Iranian digital asset venture BitBank, its software developer, and three associates of financier Babak Zanjani under the campaign. Treasury alleged that Zanjani’s network used digital asset businesses to move funds for the IRGC, including hundreds of millions of dollars in Bitcoin. The BitBank sanctions action also placed the developer, Pishtaz Simorgh Electronic Trade Company, on OFAC’s list.
A separate U.S. civil case shows how a wallet freeze can precede an effort to take custody of tokens. In September, prosecutors sought forfeiture of $61.2 million in USDT held across ten TRON addresses that court filings said Tether had frozen in 2025. A Sep. 14 warrant authorized the FBI to take custody of the targeted assets; the forfeiture complaint asks a court to award ownership to the government. That case concerns alleged Iranian oil proceeds and is separate from Tether’s stated 2026 freeze total.
Earlier Iran-linked wallets and U.S. cases add context
Tether also cited work with Israel’s National Bureau for Counter Terror Financing. It said the bureau has referred more than 40 cases involving over 640 addresses, resulting in freezes of more than 22 million USDT. In 2023, the company disclosed a freeze of 32 addresses holding $873,118.34 in a case involving illicit activity affecting Israel and Ukraine.
After the Israeli bureau published a list of 187 addresses it associated with the IRGC in September 2025, blockchain analytics firm Elliptic reported that Tether had blacklisted 39 of them. Approximately $1.5 million in USDT remained in those wallets when they were frozen, according to Tether’s account of Elliptic’s findings.
Across its law enforcement work, Tether said it cooperates with more than 340 agencies in 67 countries and that the efforts have helped freeze over $4.9 billion in assets, including more than $2.4 billion connected to U.S. authorities. The body of its announcement states more than 2,800 investigations globally and more than 1,500 involving U.S. law enforcement, while its page subtitle gives higher figures of more than 2,900 and more than 1,600, respectively.
Among the U.S. cases the company cited was a September Justice Department operation against a marketplace serving scam centers. Tether said authorities restrained more than $52 million in one day and that the department acknowledged its assistance. It also cited a February seizure of more than $61 million in USDT tied to an alleged investment fraud operation, in which the Justice Department and Homeland Security Investigations acknowledged its help transferring the assets.
Crypto
Bitget Reveals New Details of $388M Crypto Hack
Bitget CEO Gracy Chen said the crypto exchange’s recent $388 million exploit stemmed from a vulnerability in a third-party security product that allowed the attacker to obtain “high-level internal credentials.”
In comments to Cointelegraph, Chen said the attacker used those credentials to issue fraudulent withdrawal commands. Bitget’s private keys were not compromised, and its cold wallets were not affected, she said.
Bitget said it has since addressed the security flaw and tightened its withdrawal controls, including restricting internal access, adding independent verification for withdrawals and increasing monitoring for unusual activity.
The attack occurred on Sept. 24, when Bitget detected unauthorized transfers from several of its hot wallets and temporarily suspended withdrawals. The exchange initially estimated that about $352 million in assets had been affected.
Related: Bitget resumes Bitcoin withdrawals as hacker swaps ETH via THORChain
Bitget has yet to disclose recovery figures
The exchange has not disclosed how much of the stolen crypto has been recovered or frozen. Chen said some assets have been frozen with help from other industry participants, but Bitget would release a total only after verifying the amounts.
Bitget had previously called on THORChain, a protocol for swapping assets between blockchains, to refuse services to addresses linked to the attack.
The exchange said it is not asking THORChain to halt its network as it attempts to prevent the stolen assets from being moved. THORChain has said it cannot selectively blacklist individual addresses.
“We understand that THORChain operates as a decentralized protocol and has said that it cannot selectively blacklist individual addresses. We respect the technical constraints of different networks and are not asking any protocol to take actions that are not technically possible,” Chen said.
Chen also addressed Bitget’s earlier suspicion that North Korea may have been behind the attack.
“What was shared previously was based on preliminary indicators identified during the investigation,” Chen said.
“Those indicators are still being assessed. Mandiant and SlowMist are supporting the independent forensic investigation, and that work is ongoing. We will share further findings as they are verified,” she added.
Additional reporting by Helen Partz.
Magazine: THORChain under fire over Bitget, ETH evolves beyond blockchain: Hodler’s Digest
-
Fashion3 days agoWeekend Open Thread: J.McLaughlin – Corporette.com
-
Crypto6 days agoGoldman Sachs and Deutsche Bank Agree: The S&P 500 Rally Isn't Over
-
Tech & AI22 hours agoOpenAI is preparing “o,” an always-on ChatGPT assistant that could handle email
-
Fashion4 days ago8 iPhone Accessories That Add Personality
-
Tech & AI22 hours agoAnthropic turns Claude into an AI marketplace with 2,000+ plugins and connectors
-
Entertainment6 days agoThese 17 Fall Amazon Dresses Seriously Look Like Anthropologie
-
Tech & AI6 days agoReolink’s solar 4K security camera falls to its lowest price in months
-
Crypto6 days agoTrump-Xi Polymarket Odds for Handshake Hit 50%
-
Crypto6 days agoThis Bearish Netflix Stock Trade Can Cash In On Video Streaming Giant’s Woes
-
Crypto5 days agoCrude Oil Prices Pressured by Diplomatic Hopes in the Middle East
-
Crypto5 days agoBitcoin price tests $83,600 Supertrend support after $87K rejection
-
Business & Hussles6 days agoOil Price Today (September 23): Crude oil below $100 on hopes of US-Iran talks. What did Trump say?
-
Crypto6 days agoBitGo says Bitcoin absorbed Fed hike, CLARITY failure
-
Crypto5 days agoBitcoin Threatens Sub-$84,000 Breakdown as Long Liquidations Spike
-
Crypto7 days agoMeta Jumps 11% As Muse Shines and Investors Show an Appetite for Advancing AI
-
Crypto6 days agoDid Jim Cramer Just Give GameStop Stock the Kiss of Death When He Said the Turnaround Is Working?
-
Crypto7 days agoTrump, Xi Meet on S&P 500's Best Day Since Early August: Will Markets Stay Bullish?
-
Tech & AI5 days agoUiPath’s Dines says AI needs a manual and launches Cartographer to write it
-
Crypto5 days agoAs Amazon Stock Prospers, Traders Might Consider This Option Play
-
Crypto5 days agoStrategy resumed Bitcoin buying, but Strive gained more BTC per share

ChartNerd
(@ChartNerdTA)
You must be logged in to post a comment Login