US Designates Russia's A7 Network as Transnational Criminal Organization

In briefOFAC has designated the A7 Network a transnational criminal organization, and FinCEN has proposed barring U.S. institutions from any transfer involving its front companies.The proposed rule covers convertible virtual currency, not just fiat.FinCEN says more than 180 entities moved at least $179.1 billion in A7s ruble-backed A7A5 token between February 2025 and June 2026.  The U.S. Treasury has moved against the A7 Network, a Russian shadow banking operation it says Iran and the Islamic Revolutionary Guard Corps have used to evade sanctions, with a proposed rule that would cut its front companies off from American finance, including in crypto.  The Office of Foreign Assets Control designated the network a significant transnational criminal organization on Thursday, listing it with addresses in Russia, Kyrgyzstan, Nigeria and Zimbabwe. The Financial Crimes Enforcement Network separately proposed prohibiting transfers involving what it calls the networks Sub-Agents, the companies it uses to make sanctioned payments look like ordinary trade.  Today, Treasury took unprecedented action against the A7 Network, a shadow banking network with ties to Russia used by the Iranian regime to evade sanctions as part of Operation Economic Outcast.  Treasurys @FinCENnews proposed a rule that would prohibit transmittals of funds…  — Treasury Department (@USTreasury) October 1, 2026  FinCEN is acting

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THORChain launches Zcash pool, trading comes next

THORChain has launched its Zcash (ZEC) liquidity pool on Oct. 2 after the network completed a node churn, with all nodes now monitoring Zcash and trading set as the next step.  SummaryTHORChain has launched its ZEC liquidity pool after completing a network churn across active nodes.Every THORChain node is now monitoring Zcash while native ZEC trading remains the next step.THORChain warned liquidity remains shallow and urged traders to use caution during early ZEC trading.THORChain added Zcash UTXO handling, RPC logic and ZEC oracle support through 2026 protocol upgrades.Bitget-linked wallets swapped roughly $6.3 million in ETH for Bitcoin through THORChain after Septembers breach.  THORChain said the churn had completed and every node was watching the Zcash chain, while trading would follow after the pool launch. The protocol described the venue as permissionless and cautioned users that liquidity remained shallow during the opening stage.  The $ZEC pool is now live on THORChain.  The network churned and every node is watching the Zcash chain. @Zcash now has a truly permissionless venue.   Trading is the next step. Liquidity is shallow for now and will grow over time, so trade with caution in the early days. pic.twitter.com/sVEj0K4xNQ  — THORChain (@THORChain) October 2, 2026  THORChain ZEC pool is live before native trading  The

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US targets $17 billion Russia-linked crypto payment network using USDT as an escape route

The US sanctioned the Russia-linked A7 Network and proposed new restrictions to cut its crypto intermediaries off from global markets.  Related Asset Tether USDT · Stablecoin  On Oct. 1, the Treasury Department designated A7 as a significant transnational criminal organization, extending blocking sanctions beyond individual companies previously targeted by Washington to the broader payment network. FinCEN simultaneously proposed barring covered financial institutions from transmitting funds involving identified A7 sub-agents.  The measures target a shadow-payment system Treasury says has helped Russian sanctioned entities, Irans central bank and Islamic Revolutionary Guard Corps, and other illicit actors move money through companies designed to make restricted transactions resemble ordinary commercial payments.  FinCEN said A7 sub-agents processed more than $17 billion in dollar-denominated transactions between January 2025 and June 2026. Treasury separately said the network claimed in January to be handling more than 2,000 transactions a day worth the equivalent of $91.5 billion, or about 13% of Russias 2025 foreign trade.  The designation gives financial firms an immediate compliance obligation where US sanctions jurisdiction applies. Property and interests in property belonging to blocked persons must be frozen and reported to the Office of Foreign Assets Control, including entities owned 50% or more by sanctioned parties.  Washington targets A7s route into liquid

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SMBC Nikko plans Japan DeFi gateway with Uniswap

SMBC Nikko Securities and Nethermind have signed an MoU with Uniswap Labs, Base and Nyx Foundation to build a Japan-focused DeFi Gateway targeted for completion by mid-2027.  SummarySMBC Nikko and Nethermind signed an MoU with Uniswap Labs, Base and Nyx Foundation Thursday.Mid-2027 is the target for completing Japans planned DeFi Gateway project, according to the partners.Uniswap v4 hooks will be used to add AML, counterterrorism financing and investor protection controls.Base will support deployment and x402 integration, while Nethermind leads engineering, AI and smart-contract security.Project progress will be shared with Japans FSA, but no live product has launched yet.  SMBC Nikko said on Oct. 2 that the five organizations will develop a liquidity-provisioning protocol and custom pools intended to give Japanese investors a controlled route into decentralized finance. The announcement describes the work as a development project and does not say Japans Financial Services Agency has approved a product for public use.  The project expands work SMBC Nikko and Nethermind announced in March. Their earlier research focused on connecting Japanese investors with automated market makers while testing risk controls, user safeguards and AI tools. The October MoU brings Uniswap Labs, Base and Nyx Foundation into the project with defined technical roles.  Uniswap v4 hooks for

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DOGE Beats Nike Over 5 Years: Here's How Numbers Compare

Crypto ranking platform CoinGecko has provided a five-year performance comparison between the major cryptocurrency Dogecoin (DOGE) and the stock of giant sportswear company Nike (NKE).  For context, Dogecoin is the 11th-largest cryptocurrency, with a market cap of $16.65 billion. Nike, one of the largest global sports and athleticwear brands, headquartered near Beaverton, Oregon, has a market capitalization of $52.14 billion.  The comparison offers a glimpse at how the two very different assets have performed over the same period—in this case, the last five years. CoinGeckos analysis provides a basis for comparison of both assets for holders who have held them over the last five years.  The analysis looks back five years to October 2, 2021, when Dogecoin traded at $0.223. Meanwhile, five years ago, Nike (NKE) traded at $149.60.  Fast-forward to the present: Dogecoin has recorded a smaller decline than the major sportswear stock over the last five years. CoinGecko shared this in the screenshot accompanying its tweet.  Dogecoin is currently trading at $0.096, down 57% from its price on this date five years ago; Nike traded at $35.22, down 76% over the same timeframe.  The outcome follows as Dogecoin has experienced several major rallies and sharp corrections during this time; Nike also faced its own

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Bitcoin open interest jumps $2.3 billion as traders pay more for bullish positions

SummaryBitcoin open interest has risen by $2.3 billion (27,000 BTC) since Sept. 30, while higher funding rates suggest traders are paying more to maintain bullish positions.Strategy and Strive gained around 3% in premarket trading, while Coinbase and Robinhood rose approximately 2%.  Bitcoin derivatives activity is picking up ahead of Fridays U.S. jobs report, with traders adding positions as the price climbs above $86,000.  Open interest has risen to approximately 653,000 BTC ($56.2 billion) from 626,000 BTC on Sept. 30, according to CoinGlass data, an increase of 27,000 BTC ($2.3 billion), or roughly 4.3%. Open interest measures the total value of outstanding futures and perpetual contracts that have yet to be closed or settled. Rising open interest indicates that traders are adding exposure, although it does not reveal whether they are betting on prices rising or falling.  Bitcoin has climbed from around $83,500 to $86,500 over the same period. A price increase coinciding with rising open interest suggests new positions are helping support the rally.  Meanwhile, the perpetual funding rate has risen from around 3% to 10% in the same time frame. Funding is a periodic payment exchanged between traders holding long and short positions, designed to keep perpetual futures prices close to the spot

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Crypto traders are in risk-on mode as bitcoin dominance nears return to 60%

SummaryBitcoin rose 3.4% to more than $86,000 ahead of the U.S. jobs report, while gains across the broader crypto market signaled growing appetite for risk.Economists expect the United States to have added 90,000 jobs in September, and a stronger-than-forecast report could lift Treasury yields, revive interest-rate increase bets and pressure bitcoin.Rising open interest and funding rates indicate traders are adding leveraged bullish positions, though $344 million in liquidations underscores the risk of heightened volatility.  Crypto is a sea of green ahead of Fridays U.S. jobs report.  Bitcoin traded above $86,000 at 9:10 UTC, up 3.4% over 24 hours. Ether , XRP (XRP), solana (SOL) and BNB also rose, though none kept pace with bitcoin.  The bigger moves came further down the list. SKY, AAVE and APT jumped 7% to 10%, making them the best performers among the 100 largest coins by market value.  Bitcoins dominance, or its share of the total crypto market, is closing in on 60%. Meanwhile, the share held by USDT, the largest dollar-pegged stablecoin, slipped to around 6.3%, suggesting traders are moving out of cash and into tokens. These two gauges point to a market growing more comfortable with risk.  The nonfarm payrolls report, due at 8:30 a.m. ET, is expected

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Aave Prints Enormous 68% Volume Increase: What's Behind It

Aave is experiencing another aggressive expansion in trading activity as AAVE pushes toward $190. The token was trading around $185–$186 on Oct. 2, gaining roughly 13% over 24 hours and more than 26% over seven days, according to the supplied market data. Futures volume reached approximately $1.09 billion, while open interest climbed to about $535 million.  Aave crosses a key threshold  The increase is not occurring without fundamental catalysts. Aave Labs reported on Oct. 1 that Aave V4 surpassed $1 billion in deposits during September and expanded to Arc and Base. The Base deployment also introduced an Equities Hub where tokenized Coinbase equities can serve as collateral.  AAVE/USDT Chart by TradingView  AAVEs tokenomics provide another part of the explanation. The Aave DAO currently operates a buyback program with a $50 million annual budget, purchasing between $250,000 and $1.75 million of AAVE weekly depending on market conditions. Recent discussion around potentially adding a token-burning mechanism to Aavenomics has given traders another scarcity narrative to price in, although no formal burn proposal or schedule has been established.  Bearish market positions arise  Derivatives appear to be amplifying the move. The supplied Coinglass data shows roughly $3.82 million in AAVE liquidations over 24 hours, of which approximately $3.26 million came

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Why rising perpetual funding rates signal growing bullish leverage as bitcoin crosses $86,500

Bitcoin derivatives activity is picking up ahead of Fridays U.S. jobs report, with traders adding positions as the price climbs above $86,000.  Open interest has risen to approximately 653,000 $BTC ($56.2 billion) from 626,000 $BTC on Sept. 30, according to CoinGlass data, an increase of 27,000 $BTC ($2.3 billion), or roughly 4.3%. Open interest measures the total value of outstanding futures and perpetual contracts that have yet to be closed or settled. Rising open interest indicates that traders are adding exposure, although it does not reveal whether they are betting on prices rising or falling.  Bitcoin has climbed from around $83,500 to $86,500 over the same period. A price increase coinciding with rising open interest suggests new positions are helping support the rally.  Meanwhile, the perpetual funding rate has risen from around 3% to 10% in the same time frame. Funding is a periodic payment exchanged between traders holding long and short positions, designed to keep perpetual futures prices close to the spot price. When funding is positive, traders betting on higher prices pay those betting on lower prices.  The increase suggests stronger demand for bullish exposure, with traders willing to pay more to maintain their positions ahead of the jobs report.  However, open interest

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Coinbase completes Deribit switch, ending International Exchange trading

Coinbase completed the migration of Coinbase International Exchange to Deribit on Oct. 1, ending trading on its former international venue. The old exchange is now read-only, with its trading activity moved to Deribit.  Coinbases migration status report marked maintenance complete at 10:02 UTC on Oct. 1, 2026. For affected institutional clients, the switch makes new trading connections, a different settlement cycle and separate historical records immediate operational issues.  Affected institutional accounts are limited to non-US institutions in selected jurisdictions. Coinbase says the consolidation pools derivatives liquidity previously split across the two venues. Available products and access still depend on account type and location.  Related Company Coinbase A leading digital currency company  Institutions using API or FIX connections need Deribit endpoints and newly created Deribit API keys. International Exchange keys will not work, and there is no parallel trading window on the former venue.  Related Company Deribit Cryptocurrency Futures s API migration guide also says API-key IP allowlists do not copy across. Instrument names and order attributes change, while open International Exchange orders were canceled at the halt rather than transferred. Clients wishing to reinstate canceled orders must recreate them on the new venue.  Execution moves to Deribit, but the institutional legal relationship has its own structure.

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