Crypto Industry News & Market Trends

Kalshi Loses Again as Appeals Court Backs State Sports

Kalshi suffered another legal setback after the Sixth Circuit ruled that Ohio and Tennessee can enforce their sports betting laws against the prediction-market operator.　　The court said Kalshi had not shown that its sports event contracts qualify as “swaps” under federal commodities law. It also ruled that federal law would not prevent the states from applying their gambling rules even if the contracts met that definition.　　Court Rejects Kalshis Swap Argument　　The case centers on the Commodity Exchange Acts definition of swaps and whether sports outcomes are linked to financial, economic or commercial consequences.　　Related: CFTC Sues Cash FX Over Alleged $950M Crypto-Linked Forex Scheme　　The Sixth Circuit found that any financial effects from sports outcomes are too indirect and speculative to meet the statutory standard. Kalshi began offering sports contracts in early 2025, prompting regulatory challenges in several states.　　The ruling adds to a growing split among federal appeals courts. The Ninth Circuit also rejected Kalshi‘s position, while the Third Circuit previously ruled in Kalshi’s favor in a New Jersey case.　　Supreme Court Review Could Follow　　The dispute could eventually reach the U.S. Supreme Court. New Jersey has already asked the justices to review its case.　　The Commodity Futures Trading Commission has supported Kalshis position that federal law

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Bitget CEO Wants Thorchain to Block Hackers, but There's a Catch

Key TakeawaysBitgets hack is larger than first reported, with the exchange now putting the damage at $387.5 million.Gracy Chen wants Thorchain to cut off the hackers as they shuffle stolen funds into bitcoin.Thorchain faced a similar fight after the Bybit hack, and its validators werent willing to block the moving funds.　　Bitgets Hack Climbs to $387.5 Million as CEO Gracy Chen Calls on Thorchain to Block Hackers　　Two days ago, Bitcoin.com News reported on the Bitget hack, and at the time, the exchange said hackers stole around $351 million. That estimate has been increased since then, and Bitget now estimates that “approximately $387.5 million were transferred to attacker-controlled addresses.” Bitgets attacker has been moving stolen funds and leveraging a few different rails, including Thorchain.　　Thorchain is essentially a decentralized network that allows people to swap different crypto assets across different blockchain networks, like swapping BTC for ETH. This weekend, several reports say that tens of millions in XRP have been deposited into Thorchain vaults, and another stash of tens of millions has already been swapped for BTC. The bitcoin is then peeled and hopped across a myriad of bitcoin addresses.　　In addition to Thorchain, the Bitget hackers are reportedly using Chainflip, Uniswap, 1inch Fusion,

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Saylor calls for a 'bill of digital rights' to finance 10 million new companies

Michael Saylor has stated that he wants individuals and companies to be given five guaranteed rights over digital assets. 　　Saylors argument aims to provide cheaper capital and freer money, which he claims a productive, AI-driven economy will stall without.　　What rights does Michael Saylor want over digital assets？　　In an essay posted to X on Saturday, following an on-stage conversation at the Bitcoin Policy Institutes Freedom Tech DC summit, Michael Saylor has proposed that individuals and corporations be given five fundamental rights.　　Discover more　　Bitcoin price tracker　　Digital payment systems　　Financial technology news　　They include the right to create digital assets, issue them to raise money, custody them directly or through a chosen provider, transfer them freely, and use them to spend, invest, earn, and borrow. He wrote that those rights should be applied equally and be backed by financial privacy and real access to markets.　　Saylors opinion is that ownership means little if the state limits what an owner can do. He pointed out that the recent legislation, the CLARITY bill, has roughly 630 pages, of which he estimated about 600 were restrictions.　　Cryptopolitan reported back in August that Saylor has spent the year sorting digital assets into tiers; digital capital, digital credit, digital money, and digital currency.　　Saylor

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Bitcoin - BTC to $300K？ Fidelity says THIS level comes first

Bitcoin has rallied 45% to $87K from Julys low of $57.8K. Despite briefly slipping back to $84K this week, Fidelity believes there was a higher chance of hitting $100K.　　Notably, the asset manager accurately called the $60K bottom and the end of Bitcoin winter. Now, Fidelitys Head of Global Macro Jurrien Timmer is back with an even bolder projection: BTC can hit as high as $300K this cycle. But first, this overhead obstacle must be cleared.　　Bitcoins path to $100K-$300K　　According to Timmer, BTC was close to forming a double bottom pattern (the W-formation) on the weekly charts. Timmer said that if the pattern is completed (by BTC closing above $82K), the path to $100K would be clear.　　Bitcoin is looking particularly interesting here as it challenges key resistance at $80k. If it breaks it will confirm a double bottom targeting $100k.　　Source: Fidelity　　The double bottom patterns are bullish reversal formations, and their breakout rallies tend to coincide with the depth of the W-trough. In this case, it would translate to 24% upside potential above $82K, translating to the $102K price target.　　Discover more　　Fintech investment reports　　Bitcoin mining hardware　　Open Trading Account　　So, Fidelitys mid-term $100K outlook was spot on, purely based on price technical analysis.　　Interestingly, the $82K was

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Blockchain Association CEO Mersinger Steps Down

The Blockchain Association‘s chief executive, Summer Mersinger, will step down on October 16 and hand leadership of the crypto industry’s leading Washington advocacy group back to its founding leader, Kristin Smith, the organization announced in a press release on September 25. Smith, who currently serves as president of the associations board of directors, will return as interim chief executive on October 17, while Mersinger stays on as an advisor through the end of the year to ease the transition.　　A leadership change after the CLARITY Act setback　　The handoff lands about ten days after the Senate failed to advance the Digital Asset Market Clarity Act in a 49-50 cloture vote on September 15, a defeat that stalled the industrys primary push for a comprehensive market structure law. Mersinger joined the Blockchain Association in June 2025 after serving as a commissioner at the Commodity Futures Trading Commission, bringing years of public service that included senior staff roles in both chambers of Congress and work as an advisor to Senate Majority Leader John Thune.　　Mersingers tenure delivered the GENIUS Act and regulatory clarity　　Under Mersinger‘s leadership, the association pressed a dual legislative and regulatory strategy that produced a string of milestones. It backed final passage of

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Cathie Wood Brings OpenAI, SpaceX and Anthropic Exposure to Ethereum

ARK and Securitize announced on Sept. 24 that the ARK Venture Funds tokenized share class, ARKVX, will be available on Ethereum, with Securitize handling the onchain issuance and investor infrastructure through its official tokenization platform.　　The more important part is what sits inside the fund.　　ARKs latest portfolio data show SpaceX at 7.54%, OpenAI at 5.26% and Anthropic at 3.86%, alongside Stripe, Crusoe, Figure AI and other private and public technology companies in the ARK Venture Fund portfolio.　　That means investors are not buying tokenized OpenAI, SpaceX or Anthropic shares directly. They are buying a tokenized interest in a regulated fund that owns exposure to those companies.　　Ethereum Becomes the Settlement Layer for Venture Exposure　　The underlying companies remain inside the ARK Venture Fund. What changes is the ownership infrastructure around the fund itself.　　Securitize says ARKVX will use Ethereum for its tokenized share class, while eligible investors access it through a regulated platform. The fund itself remains an actively managed closed-end interval fund focused on disruptive innovation.　　That distinction matters because Coinpaper has already explained how tokenized stocks and funds move onchain: the blockchain layer changes how ownership is recorded and transferred, but it does not turn the underlying private companies into crypto assets.　　ARKs portfolio is

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Dow Jones: Stocks Rally, Silver Price Holds Despite 5% Yields

The Dow Jones Industrial Average ended Friday at 51,828.62, up 0.93%, even as Treasury yields remained at levels that would normally make life harder for both stocks and precious metals.　　Spot silver finished the week around $64.17 an ounce, after trading between roughly $63.24 and $65.22 on Friday. The metal recovered during the session but still finished the week about 3.4% below Mondays level near $66.40.　　Meanwhile, the U.S. Treasurys official Sept. 25 yield curve put the 10-year yield at 5.17%, after it reached roughly 5.2% earlier in the week.　　That leaves markets in an unusual position: stocks are absorbing the rate shock better than silver.　　Dow Jones Buyers Are Looking Past 5% Yields　　Fridays rally was broad enough to push all three major U.S. indexes higher.　　The Dow gained 0.93%, while the S&P 500 rose 0.51% and the Nasdaq Composite added 0.48%. Technology and AI-related stocks helped offset pressure from elevated borrowing costs.　　That extends a pattern Coinpaper has tracked throughout the week. The S&P 500 managed to hold up despite a 5.2% Treasury yield, while an earlier session showed the Dow and S&P 500 rising as oil and yields temporarily eased.　　The Dows resilience is notable because the index had recently struggled as bank stocks and

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Institutions Watched Bitcoin Fall 50%: Yet None of 15 Bitwise Surveyed Investors Cut Exposure

The survey shows that institutions have not backed away from crypto, even as they remain picky about what they buy.　　Institutional investors are keeping their crypto exposure steady despite the intense turmoil between Q4 2025 and Q2 2026, according to a survey by Bitwise.　　The firm interviewed 15 institutions and found that none cut their allocation during a period when the market fell by about 50%.　　Bitcoin Is the Institutional Favorite　　Crypto allocations remain relatively small across the portfolios surveyed and range from 0.5% to 13% of investable assets. Most institutions hold between 1% and 2%. Their exposure is spread across ETFs, direct crypto holdings, venture capital, and hedge funds. The survey found that institutions are not stepping away from crypto. Some are maintaining their current targets, while others are still working toward higher allocations.　　Several investors are also moving away from illiquid private placements. Some are even adding market-neutral strategies to reduce volatility and make crypto investments easier to approve internally. Bitwise said the debate is increasingly focused on how much crypto to hold and which investment vehicles to use, rather than whether to invest at all.　　Institutional investors are also taking different approaches when it comes to Bitcoin, Ethereum, and Solana.　　It is no surprise

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UNI Price Holds Breakout as Stock Token DEX Volume Reaches $20.9B

TLDR:UNI price trades near $9.61 after a quarterly breakout, while $12.30 marks the next major hurdle on the daily technical chart.Tokenized stocks generated $20.9 billion in DEX volume over 30 days, with Uniswap v4 and v3 processing a combined 60.1% share.Uniswap v4 led tokenized-stock DEX trading with a 40.7% share, while Uniswap v3 ranked second at 19.4% during the period.Holding $9.33 could support another UNI test of $9.93, while a breakdown would place $8.37 and deeper support back in focus.　　The UNI price traded near $9.61 on September 26 after a third-quarter advance reshaped the tokens structure. Market data showed a modest pullback as buyers defended the $9.33 support area. The move followed a rally from $2.35 to $10.85 during the quarter. That advance broke a descending triangle that had contained the token since its 2021 peak.　　Meanwhile, Token Terminal reported $20.9 billion in tokenized-stock DEX volume over 30 days. Uniswap v4 led that market with 40.7%, while v3 captured 19.4%. Their combined 60.1% share adds a usage measure to UNIs price setup.　　Uniswap (UNI) PriceUNI Price Holds Its Breakout Below the $12.30 Hurdle　　The Q3 move changed a structure that had restricted UNI. UNI price cleared the triangle and reached $10.85 before sellers

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Cathie Wood Brings $1.3 Billion Fund Holding SpaceX and OpenAI Onchain

Cathie Woods ARK Invest is tokenizing its ARK Venture Fund with Securitize, putting it on the Ethereum blockchain. The fund owns stakes in OpenAI, Anthropic, and SpaceX.　　OpenAI and Anthropic do not trade on any stock exchange. ARK and Securitize announced the move on Sept. 24. Bloomberg reported the funds size at about $1.3 billion.　　What the ARK Venture Fund Onchain Offers Investors　　Tokenizing means recording ownership as a digital token on a blockchain, a public ledger anyone can check. Eligible investors buying through Securitize get exposure to the funds portfolio this way, according to the release.　　Discover more　　Enterprise blockchain solutions　　Crypto trading course　　Digital payment systems　　That portfolio is mostly private. About 78% of the fund sat in companies without a public stock ticker as of August 31, ARKs holdings file shows. SpaceX was the top position at 7.54%. OpenAI made up 5.26% and Anthropic 3.86%.　　ARK first opened this door in September 2022. It launched the fund with a $500 minimum, calling venture capital a market long reserved for wealthy investors, its announcement said.　　The catch is the exit. The fund is an interval fund, so it buys back shares only at set times. Its prospectus schedules those buybacks quarterly, and the release warns they may be

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