Crypto Industry News & Market Trends

Toshiba joins 25 firms in Japans six month EJPY stablecoin trial

Japan has expanded its push to bring yen stablecoins into everyday business use, with 26 companies, financial institutions and local government bodies joining a six month program that will test EJPY and other stablecoin use cases across payments, remittances and digital assets.　　SummaryToshiba and 25 other participants have joined a six month program testing EJPY and other stablecoin use cases in Japan.Testing will cover domestic and cross border payments, business transactions, digital asset settlement and Web3 services.Participants will receive EJPY test tokens, wallets and access to Japan Open Chain infrastructure for technical trials.The program runs through February 2027, while participation does not commit any company to launching a stablecoin service.　　Japan Blockchain Foundation said the Stablecoin Proof of Concept Partners program began in September and will run until February 2027, giving participants access to test EJPY tokens, wallets and the Japan Open Chain infrastructure needed to develop and verify potential services.　　Toshiba is among the companies taking part, alongside SCSK, QUICK, Seiko Solutions, Hachijuni Nagano Bank, Asahi Broadcasting Group Holdings, Tobu Top Tours and several technology and financial services firms. Tagawa City has joined from the public sector.　　Sixteen participants have been publicly named so far, while another 10 will be disclosed after discussions

09-25Industry

ONDO Crypto Jumps 30% on BlackRock Tokenised Portfolio

ONDO crypto trades at $0.57 as of September 25, up nearly 30% in the last 24 hours. Why the sudden pump？ Ondo Finance launched Ondo Intelligent Portfolios on September 24, three onchain tokens, BLKHIon, BLKDIGon, and BLKGRWon, built on model allocation strategies developed by BlackRock.　　Each token gives holders a single point of exposure to a weighted basket of tokenized equities and ETFs, with rebalancing executed via smart contract and all constituent weights visible onchain.　　Introducing Ondo Intelligent Portfolios, the first three portfolios powered by BlackRock.　　Ondo Intelligent Portfolios introduces a new onchain product category: curated investment portfolios delivered as single onchain transferable tokens.　　The first three portfolios are based… pic.twitter.com/QG0YqIdfqO　　— Ondo Finance (@Ondo) September 24, 2026　　Ian De Bode, Ondos acting chief executive, called the structure something “never been available onchain” in the official announcement. Notably, BlackRock supplied only nondiscretionary model allocations and explicitly disclaims any role as adviser, sponsor, or distributor. The tokens are issued solely by Ondo Global Markets.　　The launch lands amid a broader institutional push to put fund structures onchain, a trend that has also touched Aviva‘s tokenized fund share class and JPMorgan’s expanding tokenization efforts. Whether ONDOs price move reflects genuine product-market fit or launch-day noise is the question the

09-25Industry

Bitgets North Korea-linked $352 million hack could drain 76% of its protection fund

Bitget said its $351.6 million wallet breach bears the hallmarks of North Korean hackers as investigators race to trace and freeze stolen assets.　　Related Company Bitget Trading platform for crypto products　　The crypto exchange said analysis of IP activity and blockchain transactions showed the Sept. 24 attack closely matched techniques used by known North Korean hacking groups. Bitget has reported the incident to relevant authorities and enlisted blockchain security firms Mandiant and SlowMist to investigate, Chief Executive Officer Gracy Chen said.　　Onchain analyst Specter separately linked the XRP taken from Bitget to funds stolen during the $24 million AFX hack in July, which was attributed to the TraderTraitor cluster associated with North Koreas Lazarus Group. The Bitget attribution remains under investigation and has not yet been independently confirmed by its external security firms.　　Related Person Gracy Chen CEO · Bitget　　Chart Linking Bitgets Stolen Funds With North Korea-Linked Attackers (Source: Specter)　　The breach affected ETH, XRP, BNB, AVAX, USDT, USDC and other assets across Ethereum, XRP Ledger, Arbitrum, Avalanche, Optimism, BNB Chain and Base. XRP accounted for the largest loss on a single network, Chen said.　　Related Asset XRP XRP · $1.57 24-hour change: up 3.46%　　Bitget said some blockchain foundations have already confirmed freezes of addresses associated

09-25Industry

Researchers Publish 'Zcash-Style' Design for Private Bitcoin Transfers

In briefResearchers at [[alloc] init] have published a specification for Shielded Bitcoin, a protocol for private transfers on the Bitcoin base layer.The design borrows Zcashs encrypted notes and zero-knowledge proofs, and requires no changes to Bitcoins consensus rules.Mechanisms for moving BTC into and out of the shielded system are not covered and are due in a separate paper.　　Researchers at Bitcoin cryptography developer [[alloc] init] have published a design for “ZCash-style” private transfers that would hide the sender, recipient and amount of a payment while running on the existing Bitcoin network.　　The 56-page paper, dated September 24, 2026, is written by Clara Shikhelman, Mikhail Komarov and Aleksei Moskvin.　　The team has “put a lot of work into thinking carefully about the security of Shielded Bitcoin and about what information the protocol reveals,” Shikhelman tweeted. Komarov called it “ZCash-style privacy on the Bitcoin L1 via PIPEs v2.”　　ZCash-style privacy on the Bitcoin L1 via PIPEs v2.　　Scott Odell, chief operating officer of [[alloc] init], tweeted that the firm had been “cooking on this for quite a while,” and described it as a contribution to making Bitcoin “private, without changing Bitcoin.”　　Value in Shielded Bitcoin is held as encrypted “notes,” and each transfer carries a zero-knowledge proof that

09-25Industry

Solana DEX volume spike hides circular trades, and automated bots are blamed

Bitquery flagged $117.7 billion in Solana DEX trades in a 30-day sample, where repeated round trips supplied much of the recorded turnover. The blockchain data companys Sept. 24 reconstruction challenges using gross volume as a stand-in for demand from independent traders.　　Related Asset Solana #7 SOL · $119.37 24-hour change: up 2.78% Loading price history… 24H Up 2.78% 7D Up 7.69% 30D Up 24.21%　　It leaves a question of how much an outside user could actually trade at a useful price in the same pools.　　From Aug. 24 through Sept. 22, Bitquery examined $201.4 billion in trades it could value in dollars across Solana pools it indexes. Its rules classified 58.4% of that sample as circular or botlike, and about $111.6 billion of the flagged amount (95%) involved buying and selling the same token through the same pool inside one transaction, according to its Solana analysis.　　One Sept. 14 example shows how the number can grow. A wallet bought a token named Claude from a PumpSwap pool, while a second wallet sold nearly as many units back to that pool inside the same transaction.　　Bitquery found that both signed it, and the two pool trades recorded about $2,000 of volume. The token name does not

09-25Industry

Crypto outlook clouded by 5.2% Treasury yield and stalled US bill

The US 10-year Treasury yield has reached 5.2% during trading, raising questions about whether crypto can hold its recent gains while another Federal Reserve rate hike remains possible and a major US digital asset bill is stalled.　　SummaryThe 10-year Treasury yield reached 5.2% during trading on Sept. 24 as oil prices rose and Fed officials kept another rate hike in view.Bitcoin traded near $84,000 after retreating from $87,000, while recent ETF inflows showed that demand had continued despite higher yields.The Senate has yet to advance the CLARITY Act, leaving crypto firms waiting for legislation as the SEC and CFTC pursue separate rules.　　The US Treasury recorded a 10-year yield of 5.18% on Sept. 24, up from 5.11% a day earlier. The 30-year yield closed at 5.47%, its highest level since 2004. The 10-year yield reached 5.20% during the session before ending below that level.　　Bitcoin traded around $84,000 after retreating from the $87,000 area earlier in the week. The pullback has been limited so far, but higher bond yields have arrived at a time when investors are watching whether recent buying through US spot Bitcoin funds will continue.　　Why are Treasury yields rising？　　Oil prices climbed on Sept. 24 after a Houthi missile attack on

09-25Industry

Payy bridge exploit freezes crypto cards, and no balances remain safe

Payy has frozen its stablecoin payment network, including card transactions, after saying its Ethereum bridge contract was exploited and drained on Sept. 24.　　Its announcement covers deposits, withdrawals, transfers, and card purchases, leaving the ordinary ways to move or spend funds through Payy unavailable while the company investigates.　　Payys statement puts the bridge incident at 4:21 a.m. UTC. It said all Payy Network transactions were paused during the investigation and promised further updates. Because the pause includes the card, the interruption extends beyond stablecoin transfers and into purchases made through the app.　　Related Asset Ethereum ETH · $2,675.67 24-hour change: down 0.25%　　A transaction on Ethereum occurred at block 26044909 at 4:21:23 a.m. UTC in which 1,832,149.4681 USDC left a Payy rollup contract. The companys statement did not specify a USDC amount or identify a transaction hash, so the reported transfer measures one contract outflow while the total scope remains open.　　Related Asset USDC USDC · Stablecoin　　A fuller loss figure depends on Payys accounting of the bridge beyond the movement visible in that single reported transaction.　　Payys customer exposure remains unclear　　Payys description of the bridge being drained of its full balance refers to that contract.　　The Sept. 24 statement supplied no breakdown of the drained balance or

09-25Industry

Bitcoin leaves Binance at fastest daily pace in three years

Bitcoin has seen its largest single day net outflow from Binance since 2023, with more than 13,800 BTC leaving the exchange as the cryptocurrency holds above $84,000 following its latest rally.　　CryptoQuant analyst Darkfrost said on Sept. 25 that withdrawals have dominated recent activity on Binance, which holds around 30% of the Bitcoin available across exchanges accessible to different types of investors.　　Binance sees record Outflows since 2023 amid Bitcoin FOMO ????　　Bitcoin has entered a bullish dynamic thats different from previous rebounds. Since its high in July, BTC has delivered a performance of roughly 45%. This rally notably broke through an important structural point,… pic.twitter.com/jIqyIvdKXt　　— Darkfost (@Darkfost_Coc) September 25, 2026　　The seven day average netflow has fallen to roughly negative 2,000 BTC, while Binance recorded more than 13,800 BTC in net withdrawals during the latest daily reading. The analyst described it as the exchanges largest net outflow day in three years.　　Binances Bitcoin reserves fell from around 705,000 BTC to 685,000 BTC over four days, removing roughly 20,000 BTC from the exchange during that period.　　CryptoQuants chart showed the latest outflow reaching levels last seen in 2023. Bitcoin was trading near $84,300 when the data was recorded, having climbed roughly 45% from its July levels.　　Bitcoin

09-25Industry

Tether says EQIBank exposure below 0.034% after U.S. seizure

Tether has confirmed that it holds assets at offshore banking partner EQIBank, while saying the exposure represents less than 0.034% of group assets as the bank contests a major U.S. seizure.　　The Information reported that Dominica-licensed EQIBank had provided banking services to Tether, including processing wire transfers connected with purchases and redemptions of USDT. Tether confirmed the relationship in a written response and said it did not know about the conduct U.S. prosecutors have alleged against payment provider Capstone Ltd.　　Exclusive: Tether has some funds stuck at one of its offshore banking partners, which is facing liquidation risks after U.S. seizure of assets.　　Tether said its assets held at the bank, EQIBank, are limited and represent less than 0.034% of its assets. 　　Story with…　　— Yueqi Yang (@Yueqi_Yang) September 24, 2026　　“Tether had no knowledge of the conduct by Capstone alleged by the Department of Justice,” a Tether spokesperson told The Information. The company said assets held at EQIBank were limited to “less than 0.034% of the assets of the group.” Tether did not disclose the exact dollar amount.　　Tether says its EQIBank exposure remains limited　　Applying Tether‘s 0.034% ceiling to its latest published quarterly asset total provides only an upper-bound reference, not a disclosed deposit balance.

09-25Industry

KelpDAO sues LayerZero over $292M rsETH exploit

KelpDAO has sued LayerZero and co-founder Bryan Pellegrino in British Columbia over the April 18 exploit that drained 116,500 rsETH worth approximately $292 million.　　KelpDAO said on September 24 that Evercrest Technologies Inc., the legal entity behind Kelp, filed the action to address what it describes as failures connected to LayerZero‘s infrastructure. Kelp’s current terms identify Evercrest Technologies Inc. as the company providing the Kelp application.　　Today we filed a lawsuit against LayerZero and its co-founder, Bryan Pellegrino, to right the wrongs associated with the exploit of rsETHs LayerZero bridge earlier this year. For more details, please refer to the statement below.https://t.co/gPQTPeM0Zh　　— Kelp (@KelpDAO) September 25, 2026　　The complaint, according to KelpDAOs public account, alleges that LayerZero failed to disclose weaknesses and risks in its technology and failed to stop attackers from penetrating security infrastructure used by its verifier. No court has ruled on those allegations.　　Pellegrino disputes the case. He called the claims “meritless” and said he would defend himself and LayerZero in Vancouver. Current reporting confirms the civil claim names both LayerZero and Pellegrino personally.　　KelpDAO says LayerZero approved its bridge setup　　KelpDAO‘s case centers partly on the configuration of the rsETH bridge. The protocol says LayerZero had reviewed and approved its deployment and

09-25Industry

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