Crypto Loses SEC Advocate

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Here's a quick preview of today's content: Spanish police arrest 16-year-old running ransomware, Russia pays wages in digital rubles, Absa African bank offers crypto custody, Crypto job postings triple to over 1,200, OKX files to launch tokenized stock trading, and so much more

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Market Snapshot

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• Bitcoin surges above $87,000 as soft U.S. jobs data kicks off 'Uptober' with a bang

  • BTC nears its highest level since January as weak jobs data sends bond yields lower, with short liquidations topping $120M

  • BNB Chain crosses $1B in tokenized stocks and ETFs

• Open interest jumps $2.3B as traders pay more for bullish positions and crypto moves into risk-on mode

Prediction Markets

• Will a Mag 7 company launch a stablecoin this year?

• Deposit $10 and get a $20 bonus with code LIT on signup, only on the Polymarket US app

Headline Roundup
^{_{The major headlines driving crypto markets}}

• Trump taps Jay Clayton to lead AI push (DC)

• Crypto advocate Hester Peirce departs SEC (BBG)

• Bank group sues regulator over crypto trust charters (DC)

• California subpoenas OpenAI (DC)

• OKX files to launch tokenized stock trading (BBG)

• BNY in talks with Payward over partnership (CD)

• US designates Russia's A7 network as criminal org (DC)

• IMF approves $138M for El Salvador after bitcoin waiver (TD)

• Bitget hack traced back to North Korea (DC)

• Crypto job postings triple to over 1,200 (CD)

• Payments firm OpenPayd targets public listing (CD)

• Business programs drive 17% of stablecoin card volume (TD)

• Porsche's Web3 project ends (CT)

• South Korea crypto exchange profits fall -78% (CT)

• Ethereum layer-2 Blast shuts down (DC)

• Hyperliquid's yield program gets $14.6M for buybacks (TD)

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Launches

• Absa African bank offers crypto custody (BBG)

• zkAPI launches API payments (CT)

• True Markets launches tokenized equity trading (FM)

• Centrifuge confirms three tokenized funds are live (TD)

Regulation

• Kalshi and Coinbase win partial Illinois ruling (TD)

• Russia pays wages in digital rubles (CT)

• ECB outlines models for putting money onchain (TB)

• South Korea advances tokenized securities rules (CT)

Cybersecurity

• Spanish police arrest 16-year-old running ransomware (DC)

• Near Intents recovers $3.8M (DC)

• Aave exploit drains $305K (CT)

• Drift opens exploit recovery claims (TB)

Extra Reads

• Crypto's decade-long push for regulatory clarity keeps ending the same way, the latest attempt just rolled back down the hill when the Senate blocked the Clarity Act, the fifth serious try across four Congresses to fail - Here's why crypto regulation feels like a curse

Chart of the Day

BNB Chain becomes the first blockchain to cross $1B in tokenized stocks and ETFs

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