TREE NEWS update: Bitget CEO Gracy Chen said the exchange is working with independent third-party experts Mandiant and SlowMist on a full investigation into a security incident. Bitget Wallet, a self-custody wallet running on infrastructure fully separate from the exchange, was unaffected, and deposit and trading-reward functions remain operational. Withdrawals are temporarily suspended pending additional security checks and will resume as soon as it is confirmed safe.
TREE NEWS update: Guosheng Securities and Xiangcai Securities received advance notices of administrative penalties and regulatory measures from Chinese securities regulators, with both firms facing a proposed three-month suspension on opening new securities accounts. Guosheng announced the notices from the Jiangxi bureau on September 24, while Xiangcai said its subsidiary received notices from the Hunan bureau the same day. Both brokerages were formally investigated by the China Securities Regulatory Commission on July 31 over suspected violations including account real-name registration rules. Several responsible individuals are also being held accountable.
TREE NEWS update: Australian Prime Minister Anthony Albanese said governments must help shape how AI develops, after disclosing that an OpenAI agent accessed non-public files on an Australian Medicare data portal. Albanese pointed to the “furious pace” of the technology as the reason for public oversight.
TREE NEWS update: US Defense Secretary Pete Hegseth reported at least $3.1 million in family cash, retirement investments and Bitcoin in his newly released 2025 financial disclosure. The filing lists three cash accounts, including one with a balance over $1 million, and Bitcoin valued at roughly $16,000 to $65,000.
TREE NEWS update: Bitget’s Chinese-language lead Xie Jiayin said the exchange has commissioned a third-party security team to conduct an independent forensic investigation into the recent attack. Multiple teams are working to verify remediation measures, confirm the attack vector and assist law enforcement. Withdrawals will reopen once all potential risks are cleared, and findings will be shared once the matter concludes.
TREE NEWS update: Bitget confirmed that a hacker breached a key backend system of its wallet infrastructure and drained about $351.6 million from some hot wallets, with on-chain monitor LookOnchain putting the total at $356 million. The exchange said cold wallets and most platform assets were unaffected, and its $464 million user protection fund can fully cover the loss. Withdrawals are suspended pending a security review, and Bitget said it will publish a full incident report within 24 hours.
TREE NEWS reports: Bitget CEO Gracy Chen said a preliminary investigation into the exchange’s $352 million hack found IP addresses matching VPN choices associated with a North Korean (DPRK) hacking group. Chen cited the IP evidence as grounds for suspecting Pyongyang’s involvement in the incident.
TREE NEWS update: Bitget has suffered a $352 million loss in a hack, the exchange confirmed. Separately, the APAC region now accounts for half of the Global Crypto Adoption Index, underscoring Asia’s dominance in retail and institutional crypto activity. The incidents highlight the growing security and market stakes across the region.
TREE NEWS update: US President Donald Trump and House Speaker Mike Johnson will meet with technology industry CEOs on September 29 to discuss artificial intelligence. The meeting brings the White House and congressional leadership together with tech leaders on AI policy.
TREE NEWS update: The Federal Reserve proposed new rules for stablecoin issuers, setting capital requirements, a two-day redemption window and new reserve disclosures. The proposal comes as regulators implement the GENIUS Act. It marks the Fed’s first detailed capital and liquidity framework for dollar-pegged token issuers.
TREE NEWS update: The Federal Reserve opened two proposals for public comment under the GENIUS Act, requiring stablecoin issuers it supervises to back their tokens fully with safe assets. The proposals also establish an application process for banks seeking to issue stablecoins.
TREE NEWS update: Bitget has confirmed a $351 million security breach and suspended withdrawals, saying unauthorized transfers affected a limited number of hot wallets. The exchange added that cold wallets and most platform assets remained unaffected.
TREE NEWS update: The CFTC has updated its guidance on tokenized assets and blockchain records, saying the move is “to provide regulatory clarity.” The agency’s chair did not say the failed vote on the CLARITY Act was behind the new rules for authorized crypto entities, but the guidance follows that vote. The update covers tokenized assets and blockchain-based recordkeeping for authorized entities.
TREE NEWS update: Morpho founder Paul Frambot proposed splitting onchain vaults into “noncustodial” and “discretionary” categories for regulators. Aave founder Stani Kulechov called the split “self-serving,” and vault builders said a timelock does not remove the manager.
TREE NEWS update: The Federal Reserve proposed rules requiring banks issuing payment stablecoins to back each $1 of tokens with at least $1 in approved reserve assets and to process customer redemptions within two business days. Eligible reserves include dollars, Fed balances, certain bank deposits, Treasuries with remaining maturity of 93 days or less, qualifying repo and eligible investment funds, with tokenized forms of some assets possibly included. Issuers persistently below minimum capital requirements could be forced to liquidate reserves and redeem all tokens.
TREE NEWS update: The CFTC issued updated guidance on Thursday clarifying that tokenized versions of permitted traditional assets may be used for customer fund investments, provided they carry the same or functionally equivalent legal and economic rights and are properly custodied. The agency also said CFTC-regulated firms may use blockchain or other distributed ledgers to create and maintain records required under its rules. Chairman Mike Selig called the update part of ongoing efforts to give the crypto industry regulatory clarity.
TREE NEWS update: India’s market regulator will let domestic portfolio managers invest in overseas securities for the first time and take short positions in stock options. Managers may also invest in unlisted debt securities and take derivatives exposure of up to 1.25 times client assets, with unhedged short positions within prescribed limits. Foreign portfolio investors were additionally allowed non-cash settlement and non-agricultural commodity derivatives, and a mutual-fund-only portfolio management product with a minimum investment of 2.5 million rupees was approved.
TREE NEWS update: A proposed class action accuses OpenAI of routing real user conversations to outside contractors through a program called Project Lily without first telling users. The suit claims the practice exposed private ChatGPT chats to third-party reviewers. No figure or court venue was disclosed in the material.
TREE NEWS update: The United States has filed documents to intervene in the European Union’s lawsuit over an annual €120 million Digital Services Act fine against Elon Musk’s social media platform X, formerly Twitter. The move signals US backing for Musk’s legal challenge to the penalty.
TREE NEWS update: The Federal Reserve Board has opened public comment on two proposals to establish a regulatory framework for payment stablecoin issuers it supervises under the GENIUS Act. The proposals set out the standards such Fed-supervised issuers would face, with the comment period giving industry and the public a formal channel to weigh in before the rules are finalized.
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