Flash News

TREE NEWS update: Bitget confirmed it was tricked into approving its own $388 million theft, raising its loss estimate after counting Zcash and TRON transfers. The exchange said it will announce the status of suspended withdrawals by midnight ET.

TREE NEWS update: Federal prosecutors are seeking $84.2 million from a Montana payments firm and a Caribbean bank accused of moving money without a license, in a case tied to Tether. The action targets the two firms over alleged unlicensed money transmission.

TREE NEWS update: A US Sixth Circuit Court of Appeals panel ruled that prediction market Kalshi’s sports event contracts are not swaps, making them subject to state gambling regulation rather than CFTC rules. The decision covers two suits Kalshi filed against regulators in Ohio and Tennessee. A federal court in Ohio denied Kalshi’s bid for an injunction, while a federal court in Tennessee granted it.

TREE NEWS update: Privacy blockchain Zano said an inflation bug tied to its Gateway Addresses has forced it to roll back roughly 24 hours of chain history, and it told users to immediately halt all economic activity involving ZANO and Confidential Assets. Zano pledged to compensate losses caused by the rollback, but has not disclosed the target block height, a patched release, the claims process, the mechanics of the bug or how many assets were created without authorization. Gateway Addresses launched on August 26 with Hard Fork 6.

TREE NEWS update: OG.com, recently spun out of Crypto.com, has filed for CFTC approval to offer perpetual futures on individual US stocks. The company joins Coinbase, Kalshi and Kraken parent Payward in pursuing regulatory clearance for the product. No decision or timeline was disclosed.

TREE NEWS update: SEC staff said in a crypto FAQ that promoting a network’s current uses generally would not create an expectation of profit for token buyers. The guidance also addresses token buybacks and network upgrades, signaling how the agency views such activities under securities law.

TREE NEWS update: Payy said a compromised key was not the cause of a $1.92 million drain of users’ deposits, after on-chain records showed funds leaving its bridge in two batches. The first transfer moved about $95,000, and a second roughly five hours later took almost all of the remainder, with both batches sent to the same address.

TREE NEWS update: Former CFTC Commissioner Summer Mersinger is leaving the Blockchain Association, following the failure of the CLARITY vote. Mersinger had joined the industry group in 2025 after resigning during her second term at the federal commodities regulator. The departure marks a leadership change at the Washington-based crypto trade association.

TREE NEWS update: Duelbits co-founder reported a $7 million hack that has kept the crypto casino offline, with onchain records showing the stolen funds were consolidated into ETH. The platform said customer balances are unchanged and that withdrawals will resume once it reopens.

TREE NEWS update: Coinbase has launched an IPO subscription service on its platform, with Oura Ring as the first offering, the exchange said in a post on X. Users can apply for allocation shares directly through the app before public trading begins, with the application window open until 4 p.m. ET on September 29, including weekends.

TREE NEWS update: Circle CFO Jeremy Fox-Geen will step down by the end of the year, and the company has begun a search for his replacement. His exit agreement includes $1.05 million in conditional cash payments.

TREE NEWS update: The SEC staff issued new FAQs clarifying that qualifying staking receipts fall outside securities categories, while reaffirming its earlier position on tokens used to fund maintenance and development. The guidance addresses token buybacks and liquid staking, signaling how the agency views staking-related receipts under existing rules.

TREE NEWS update: Coinbase has launched fixed-rate, fixed-term USDC loans collateralized by bitcoin through Morpho Midnight, letting borrowers obtain USDC without selling their bitcoin. Rates and repayment dates are set at loan origination, and the pledged bitcoin may be liquidated if USDC and interest are not repaid by maturity. Coinbase’s existing Morpho-backed floating-rate bitcoin loans exceed $1.4 billion outstanding, against roughly $3 billion in collateral value.

TREE NEWS reports: Bitwise’s Solana staking ETF pulled in more than $110 million in net inflows this week, the firm’s CEO said in a post on X. The figure marks a strong week of demand for the fund, which offers exposure to Solana alongside staking rewards. The CEO noted that many appear to believe Solana is performing well.

TREE NEWS update: Cosmos Hub voters are rejecting a proposal titled “ATOM Refund & Justice Bounty” that would have paid 1.72 million ATOM from the Hub’s community pool, including 1.2 million ATOM to the Neutron attacker and 500,000 ATOM to voters who backed the measure. The vote is trending toward a veto.

TREE NEWS update: Uniswap founder Hayden Adams said the SEC’s newly issued crypto asset FAQ clarifies that token buybacks do not cause commodity tokens to be classified as securities, and that liquid staking tokens for commodity tokens are likewise not securities. Adams cited the guidance in a post on X.

TREE NEWS update: A three-judge panel of the US Sixth Circuit Court of Appeals ruled Friday that Ohio and Tennessee regulators may pursue enforcement action against Kalshi Inc. over alleged evasion of the two states’ sports betting laws. The court rejected Kalshi’s argument that the Commodity Futures Trading Commission is the sole federal regulator of its business and that federal law bars state action against it.

TREE NEWS update: Crypto casino Duelbits lost $7 million in a hack, co-founder Joe said Friday afternoon, adding that user funds remain safe. The platform said it needs additional downtime to secure the site and refill its hot and cold wallets. No further details on the attack were disclosed.

TREE NEWS update: Blockchain Association CEO Summer Mersinger will step down next month, with Kristin Smith returning as interim CEO, the crypto industry trade group said. Mersinger took the top job at the Washington-based lobbying group, which represents major crypto firms before US policymakers. Smith previously led the association before Mersinger’s appointment.