Crypto Industry News & Market Trends

Bitget Resumes Crypto Withdrawals After $388M Security Breach

After the security incident on September 24, Bitget has started to resume the crypto withdrawals, and the withdrawals of the BTC network and BSC network are resumed on September 28. The exchange stated that the process of restoring was made in a phased manner as part of other security reviews and remediations that took place on its withdrawal infrastructure, without impacting on user account balances.　　Ad　　Ad　　Bitget Identifies Attack Path After $388M Crypto Hack Incident　　Bitget said it also discovered that the attacker was able to gain access to internal credentials at a high level by exploiting a third-party security tool. Those credentials were then used to make withdrawals that were counterfeit and caused abnormal transfers that circumvented risk controls.　　“Private keys were not compromised and cold wallets were not affected,” Bitget said. The crypto exchange also noted the flaw has been patched and the incident is contained.　　Discover more　　investments　　Digital Currencies　　Finance　　The exchange estimated the total assets moved out of the bank are around $388 million. It explained that the amount is based on the latest amount that transactions were reconciled with to the original incident but not additional amounts that were not authorized after containment.　　Mandiant and SlowMist are providing ongoing assistance with the forensic investigation.

2 days agoIndustry

NEAR Price Forecast: NEAR Intents blocks more than $50M in attempted laundering linked to Bitget exploit

NEAR Intents, a cross-chain trading protocol, has blocked more than $50 million in attempted laundering flows linked to the recent Bitget exploit, while freezing $503,000 during the execution process.　　The intervention was carried out through SHIELD, the protocols risk-intelligence system, which monitors transactions for links to hacks and other illicit activity, according to a Monday report.　　Alex Shevchenko, co-founder and CEO of Auroro Labs, stated that SHIELD routinely processes more than $100 million in cross-chain volume each day and uses intelligence from know-your-transaction providers, independent researchers and industry partners to identify potentially illicit funds.　　In the Bitget case, the system identified more than $50 million in attempted laundering flows and prevented the majority of the funds from moving through the protocol.　　A further $503,000 was frozen during execution and remains restricted while Bitget pursues the appropriate legal and recovery processes. However, roughly $166,000 of the identified funds escaped through the protocol.　　NEAR Intents also claimed to have waived any bounty offered by Bitget, allowing the exchange to retain more of the recovered funds.　　“Crypto cannot simultaneously demand recognition of digital property rights and build infrastructure optimized for monetizing stolen property,” the team stated.　　Bitget CEO Gracy Chen thanked NEAR Intents and SHIELD for identifying the attempted laundering

2 days agoIndustry

RBA set to hike interest rate to 4.60% in September amid elevated inflation

The Reserve Bank of Australia (RBA) is widely expected to raise the Official Cash Rate (OCR) by 25 basis points (bps) to 4.60% from 4.35% on Tuesday, after keeping rates unchanged at its previous two meetings　　The decision will be announced at 04:30 GMT, accompanied by the Monetary Policy Statement (MPS), and followed by RBA Governor Michele Bullocks press conference at 05:30 GMT.　　The Australian Dollar (AUD) braces for a big reaction to the RBA policy announcement and Bullocks press conference, as underlying inflation remains elevated while labor market conditions are easing.　　Focus on RBA Governor Bullock　　With a rate hike all but certain, what Governor Michele Bullock says about the next interest rate move will be the main driver.　　Australias July inflation came in hotter than expected. Monthly Consumer Price Index (CPI) jumped 1.0% versus expectations of 0.8%, while annual inflation remained elevated at 3.5%. More importantly, trimmed-mean inflation remained unchanged at 3.6%, reinforcing concerns that underlying price pressures remain persistent.　　The RBA also highlighted risks from higher energy prices, the Middle East conflict, strong investment and persistent domestic cost pressures. Governor Bullock recently said some upside inflation risks appeared to be materialising.　　Discover more　　Ethereum price prediction　　Digital Currencies　　investments　　Australian Gross Domestic Product (GDP) increased 0.4% in Q2.

2 days agoIndustry

Meme Coin Digest for September 29: $35 Billion Market Faces Major Reality Check

The meme market is rotating, not rallying: the category‘s market cap is down about 4% on the day, and the large caps mostly tread water, with PUMP the standout thanks to Pump.fun’s fee and buyback data.The biggest 24-hour gains sit in hours-old, thinly traded tokens such as Baby Cali and Shareholder Cat, which are already reversing.DOG, SPX and NPC are down 11-14%, so without a broad meme season the market rewards short-lived catalysts and punishes late entries, with BTC reclaiming $85,000 as the level to watch.　　XRP Headlines Altcoins Ahead of Busy Macro Week, Binances New Listing Live with SpaceX Campaign: Main Crypto News This Morning　　XRP, Gram (GRAM), Near Protocol (NEAR) and Bitcoin (BTC) Price Analysis for September 28: Outstanders Stay Relevant　　The market for meme coins is divided but active. Established Solana tokens have seen recent gains, but the industry as a whole has weakened and quick trades have reversed in a matter of hours.　　According to the most recent September 28 snapshots, the market cap of the meme category was close to $35.2 billion, down 4.2% over the previous day; a different snapshot showed a 1.7% decline in the overall cryptocurrency market. Its not a clear sector-wide breakout.　　Biggest Meme Coin Market

2 days agoIndustry

Michael Saylor Proposes Rules Letting Banks Lend Against Bitcoin

Key TakeawaysSaylor wants banks to hold bitcoin for customers and lend against it.He calls for a practical path for insurers to use digital capital.He wants regulators to distinguish custody, lending, and direct exposure.　　What Saylor Wants Banks to Offer Bitcoin Owners　　Bitcoin owners could gain more ways to borrow or obtain custody services if banks were able to compete for their business under workable rules. Strategy Inc. (Nasdaq: MSTR) Executive Chairman Michael Saylor made that case in a Sept. 26 policy essay, calling for banks to hold the asset for customers and extend credit against it. Strategy is a public company with a large bitcoin treasury.　　Custody means safeguarding an asset on a customer‘s behalf. Lending against bitcoin would allow an owner to pledge holdings as collateral and receive a loan without immediately selling them. The owner would retain exposure to bitcoin’s price, while the lender would need to manage the risk that the collateral loses value.　　Saylor describes bitcoin as “Digital Capital” and expects bank adoption to drive industry growth. His argument extends an earlier case for bringing bitcoin into banks and capital markets. In the essays banking section, he focuses on what institutions could offer owners directly: custody, financing, and a choice

2 days agoIndustry

Strategy Adds 1,665 Bitcoin and Buys Back $152M of STRC Shares

Strategy bought 1,665 BTC for $142.7M, bringing total holdings to 847,666 BTC at a $63.95B acquisition cost.　　Treasury company Strategy added 1,665 bitcoin to its treasury while continuing a major capital management program around its preferred shares. The company spent $142.7 million on the latest BTC purchase and repurchased $151.7 million of STRC stock. Following the latest purchase, Strategys bitcoin holdings reached 847,666 BTC, acquired for a combined $63.95 billion.　　Strategy Expands Bitcoin Treasury With $142.7M Purchase　　Between September 21 and September 27, Strategy purchased 1,665 BTC for $142.7 million, including fees and expenses. According to its September 28 Form 8-K filing, the latest acquisition carried an average purchase price of $85,681 per bitcoin.　　Strategy has acquired 1,665 $BTC and repurchased $152M of $STRC. As of 9/27/26, we hold 847,666 BTC and $6.02B of USD Assets. $MSTR 　　The funding came directly from proceeds raised through the companys MSTR at-the-market offering program. During the same period, the company sold 1,469,165 MSTR shares and generated $246.2 million in net proceeds after sales commissions.　　Discover more　　Crypto market analysis　　Merchant Services & Payment Systems　　Buy Ethereum online　　From those proceeds, Strategy directed $142.7 million toward bitcoin purchases, while another $103.5 million went toward STRC share repurchases. Furthermore, the firm held 847,666 BTC

2 days agoIndustry

Euro slips back to its summer low as ECB President Lagarde urges measured hikes

Traders betting on a faster European Central Bank (ECB) got pushback from ECB President Lagarde on Monday, and EUR/USD fell back to its late-July low near 1.1350. The pair closed just above 1.1350, three sessions after it broke below 1.1400. Lagarde told a European Parliament committee that the energy shock is too large to look through, but that a measured response remains appropriate because there‘s no sign yet of energy costs feeding into wages. Eurozone inflation was 3.2% in August, with energy prices up 14.3% YoY, and the ECB’s September staff projections have it averaging 3.0% this year and 2.5% in 2027.　　Lagarde counted the bond market as part of the tightening　　Lagarde also said long-term interest rates have climbed since the ECB‘s September meeting, which will slow growth and cut the pass-through of energy costs by more than the ECB projected. Higher yields in Europe usually help the Euro, but she presented them as work the ECB no longer has to do itself. Traders heard fewer ECB hikes, and a smaller rate lift for the Euro against a Dollar backed by the Fed’s 3.75%-4.00%.　　The ECB raised its deposit rate to 2.50% on September 10, its second increase this year, and futures

2 days agoIndustry

Pound Sterling edges higher as the BoE's deputy governors lean toward a hike

The Bank of England (BoE) held the UKs Bank Rate at 3.75% on September 17 by six votes to three, and half of the six who voted to hold now say a hike may be needed. BoE Deputy Governor Ramsden said in London on Monday that there could be a case for raising the Bank Rate if upside pressure on the inflation outlook keeps building, after Deputy Governors Breeden and Lombardelli made the same argument on Thursday. GBP/USD closed just above 1.3250 for a second straight gain.　　The same count could point the other way　　Chief Economist Pill and external members Greene and Mann voted for 4% on September 17. If Ramsden, Breeden and Lombardelli join them in November, the committee would hike by the same six votes to three it used to hold, and BoE Governor Bailey and external members Dhingra and Taylor would be the ones outvoted. All three deputies point to the same risk, that energy prices feed into wage bargaining and price-setting.　　The ECB and the Fed have both raised rates since the Iran war began on February 28, and the BoE hasn‘t. It has held at 3.75% at every meeting this year, arguing its policy was already restrictive,

2 days agoIndustry

Big chinese banks ending retail leveraged Gold and Silver futures trading

At least a dozen large Chinese banks plan to end leveraged precious metals futures contracts.　　Specifically, banks are shutting down Shanghai Gold Exchange margin-traded deferred contracts, including Au(T+D) and Ag(T+D).　　The move could potentially increase demand for physical metal in China, the worlds largest gold market.　　Beijing-based China Everbright Bank is the latest Chinese institution to announce an end to leveraged precious metals trading, targeting an exit sometime after Oct. 19.　　Discover more　　Coinbase trading platform　　investments　　Crypto market analysis　　Earlier this month, Shanghai Pudong Development Bank made a similar announcement.　　These banks join at least 10 other major Chinese lenders that have already exited or announced plans to leave the leveraged futures business, including ICBC, the countrys largest bank, along with Bank of China (BOC) and China Construction Bank.　　Shanghai-based Orient Futures analyst Xu Ying called it “an inevitable shift” and predicted every major bank will eventually exit the business.　　Sources at two banks told the South China Morning Post that the Shanghai Gold Exchange (SGE) directed the move. The SGE is Chinas primary platform for physical precious metal trading physical gold and silver.　　Officials also appear to be phasing out unleveraged spot gold futures contracts for retail customers.　　In practice, leveraged trades allow investors to borrow money to speculate on gold

2 days agoIndustry

India Gold market cautiously optimistic with approach of festive and wedding seasons

The Indian gold market is cautiously optimistic as we approach the festive gold-buying season.　　Higher prices continue to weigh on gold jewelry demand even as they support investment purchases. Meanwhile, wedding buying appears “resilient,” according to the World Gold Council.　　India ranks as the worlds second-largest gold market.　　Gold prices surged in August before pulling back in the early weeks of September.　　Gold prices recorded one of their strongest monthly gains in nearly three decades in August. The London Gold Price PM rose 13 percent, ending August at $4,386 per ounce. That was slightly lower than the 14 percent gain recorded in January.　　However, the Feds September rate hike and another spike in oil prices created headwinds for gold in the first two weeks of September, causing a sharp price drop.　　Discover more　　FINANCE　　Financial literacy course　　Blockchain news subscription　　Gold was up 12 percent in rupee terms last month, closing August at ₹158,854 per 10 grams. The price fell 4.6 percent through the first two weeks of September.　　According to the World Gold Council, gold continues to trade at around 2 percent below import parity. This indicates local supply is adequate compared to demand.　　Discounts widened from an average of $34 per ounce in July to $51 in August. The discount

2 days agoIndustry

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