Flash News

TREE NEWS update: USDC issuer Circle is pressing the European Union to replace requirements that stablecoin reserves be held as bank deposits, and to preserve cross-border co-issuance and create a recognition route for foreign stablecoins. Central banks are pushing back, demanding stronger safeguards for the sector. The proposal is part of the EU’s work on stablecoin rules.

TREE NEWS reports: Chainalysis has attributed the $387 million Bitget hack to North Korea, saying the theft pushed North Korea-linked crypto thefts above $1 billion in 2026. Onchain records show the stolen XRP was swapped through THORChain.

TREE NEWS update: NEAR Intents’ GM said the $3.8 million lost in a hack has been returned in full, with the published Bitcoin recovery wallet receiving about 34.59 BTC. The protocol had already pledged to compensate the lost funds in full.

TREE NEWS reports: Prediction market Kalshi is seeking a $40 billion valuation, while crypto exchange Blockchain.com is targeting an IPO, even as crypto treasury companies struggle to hold their once-high valuations. The developments signal returning capital to the sector, but the premium multiples that treasury vehicles once commanded have faded.

TREE NEWS reports: Ethereum gained 70.8% in the third quarter, its strongest quarterly performance since the first quarter of 2021. The quarter marked a sharp rebound for the second-largest cryptocurrency.

TREE NEWS reports: Crypto futures liquidations across exchanges totaled $393 million in the past 24 hours, with short positions accounting for $276 million and longs $117 million, CoinGlass data shows. Bitcoin liquidations reached $171 million and Ether $87.77 million. The largest single liquidation, worth $11.73 million, occurred on Binance’s BTCUSDT contract.

TREE NEWS reports: Bitcoin briefly touched $87,000 after weaker-than-expected US payrolls data sent Treasury yields lower. Order-book resistance kept the largest cryptocurrency from reaching new macro highs, capping the move. The advance followed the softer labor print, which weighed on bond yields.

TREE NEWS reports: The Nasdaq Golden Dragon China Index fell more than 2%, with Lufax Holding down 10.92% and MAAS down 9.04%. VNET Group dropped 7.56% and GDS Holdings slipped 6.61%, while ZKH Group declined 4.24%.

TREE NEWS reports: An unknown wallet unstaked 956,610 SOL, worth about $115.62 million, at 23:01 Beijing time on October 2. The tokens were released from staking in a single transaction, moving roughly $115.6 million in SOL out of the staking contract.

TREE NEWS update: Pons has entered V3 mode, founder Ozzy said on October 2. V2 contracts will remain unchanged, and V3 applies only to new token launches, so tokens issued on V1 or V2 are unaffected. Whether V3 tokens use a bonding curve will be decided by each creator.

TREE NEWS update: Blast is shutting down its Layer 2 network, citing unsustainable costs. About $63.5 million remains in the protocol’s canonical bridge. Users have until Oct. 26 to withdraw through the normal interface, with contract-based withdrawals continuing after that deadline.

TREE NEWS reports: Ether fell below the $2,700 mark, trading at $2,699.24 per token. The move leaves ETH up 0.61% on the day.

TREE NEWS update: Blast announced it is winding down operations, saying the cost of maintaining the chain now exceeds the revenue its L2 generates and that no credible path to economic sustainability exists. The network told all users to withdraw assets, including balances in the Blast PWA, to Ethereum mainnet, and said withdrawal delays will be cut to 24 hours. Blast will first withdraw its Lido assets, a process expected to take about a week, during which withdrawals will be temporarily unavailable.

TREE NEWS reports: Jeffrey Huang, known as Machi Big Brother (@machibigbrother), closed 10 consecutive winning trades on PUMP over the past five days for a cumulative profit of $1.34 million. His current long positions stand at 33,950 ETH ($92.56 million), 409 BTC ($35.22 million) and 180,000 HYPE ($16.16 million).

TREE NEWS update: Lido announced an update to its EarnUSD fee model, cutting fixed costs and tying fees more closely to vault performance. The previous 1% management fee plus 10% performance fee is replaced by a cap of 0.5% management fee plus 20% performance fee, with launch pricing set at 0.2% management fee and 15% performance fee. Lido said the lower management fee reduces the cost of holding EarnUSD in low-yield environments, while the higher performance fee better aligns fees with actual returns. Fees will be displayed transparently on the EarnUSD vault interface.

TREE NEWS reports: European stablecoin issuers are arguing that euro-denominated tokens alone are insufficient and that Europe must also offer dollar stablecoins, as businesses demand USD liquidity for global payments and settlement. The issuers say that demand cannot be ignored if Europe wants to stay competitive in digital asset markets.

TREE NEWS reports: Payment volume across Visa’s stablecoin-linked cards grew nearly 200% year over year in its fiscal second quarter, with business programs accounting for roughly 17% of that volume, Visa said. The figures cover the card network’s stablecoin settlement and payout cards.

TREE NEWS reports: A heated debate has erupted over the handling of $387.7 million in funds hacked from Bitget, centering on whether “permissionless and decentralized” technology should ever be intervened in, even when intervention is possible. The dispute pits the THORChain and NEAR ecosystems against each other over core ideals.

TREE NEWS reports: Bitcoin climbed to $86,000 to kick off October, a move traders dubbed ‘Uptober.’ Cooler inflation data and two dovish Federal Reserve speakers shifted market odds toward a rate hold. Payrolls data is due next, with CPI scheduled for October 14.

TREE NEWS reports: BitGo CEO Mike Belshe warned that Clarity’s failure left capital markets exposed to systemic risk potentially worse than Lehman, pointing to the concentration of exchange, brokerage and custody functions inside a single firm. Belshe said the collapse shows how intertwined those roles become when one company controls them all.