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Project Overview
Decrypt is a Web3 media incubated inside ConsenSys Mesh from 2018 to 2022. In April 2022, it raised $10 million in funding and spun out. Its products include decentralized media PubDAO and NFT solution provider Decrypt Studios. Decrypt is laying the foundation for a new approach to media, leveraging Web3 applications to create a better future for everyone.
DeFi Dev Corp adds 55,000 SOL, launches $300M CHAD preferred stock plan
According to Decrypt, Solana treasury company DeFi Development Corp (DFDV) announced the acquisition of an additional 55,491 SOL tokens (approximately $5.78 million), bringing its total SOL holdings to approximately 2.389 million, representing a roughly 2% increase from August 27. Meanwhile, the company announced the launch of a $300 million ATM program for CHAD variable-rate Series C perpetual preferred shares, with New York broker R.F. Lafferty & Co. acting as the sole sales agent, and the proceeds intended primarily to further increase SOL holdings. The company noted that issuance will only occur when the price is at or above a $10 par value per share, with no mandatory selling requirements. CHAD's first issuance was completed on September 8, raising approximately $11 million, with Fundstrat founder Tom Lee participating in the subscription. As CHAD comprises non-convertible preferred shares, any subsequent issuances will not dilute the equity of common shareholders.
India Launches Tokenization Pilot for $620 Billion Corporate Bond Market
Odaily reports: The Securities and Exchange Board of India (SEBI), in collaboration with the Reserve Bank of India (RBI), has launched the "Demat 2.0" pilot to issue and settle corporate bond tokens on permissioned ledgers operated by NSDL and CDSL, covering a corporate bond market of approximately $620 billion.State-owned lender REC, Larsen & Toubro, and non-bank lender IIFL Finance have collectively raised approximately $107 million through this framework. The system connects to the RBI's wholesale digital rupee to enable simultaneous settlement of bonds and funds, and automates interest payments and redemptions via smart contracts.SEBI stated that the legal terms, credit ratings, trustee arrangements, listing rules, and investor protections for tokenized bonds remain unchanged. Investors can hold tokens in their existing Demat accounts, with secondary trading and retail participation to be introduced in subsequent phases. (Decrypt)
Pencil Finance completes $1 million in fully on-chain student loan financing and repayment cycle
Odaily News: Decentralized lending protocol Pencil Finance has completed the fundraising, disbursement, repayment tracking, and fund return of a $1 million student loan portfolio entirely on-chain, constituting a full financing and repayment cycle. Animoca Brands, Open Campus, and NewCampus provided funding for this portfolio in July 2025.Education financing company ErudiFi disbursed the majority of funds through student loans and tuition financing in Southeast Asia, covering markets such as Indonesia and the Philippines. The portfolio ran for 12 months, supporting more than 6,600 students across 118 schools and universities, with approximately 1,050 students receiving funding directly attributable to Pencil Finance.Investors were split into senior and subordinated tranches — the former receiving fixed returns with priority repayment rights, while the latter earned variable returns and bore the first losses from defaults. Pencil Finance claims this is the first fully on-chain student loan cycle, but did not disclose interest rates, investor yields, default rates, or blockchain transaction records. (Decrypt)
OpenReserve receives preliminary approval for full-service national bank, must raise $210 million and maintain 12% Tier 1 leverage ratio
Odaily News: Blockchain-native fintech startup OpenReserve received preliminary conditional approval from the U.S. Office of the Comptroller of the Currency (OCC) on September 2 to establish a full-service national bank in Salt Lake City, Utah. The approval process took less than five months, with OpenReserve submitting its application on April 13.OpenReserve must raise at least $210 million in initial paid-in capital within 12 months and maintain a minimum Tier 1 leverage ratio of 12% for three years after opening. It must also commence operations within 18 months, or the approval will lapse. The relevant deadlines are September 2027 and March 2028, respectively.OpenReserve plans to offer tokenized deposits, treasury management, foreign correspondent banking, and Banking-as-a-Service for institutional clients. The full-service national bank charter, upon final approval, would allow it to accept deposits and conduct lending activities.OpenReserve previously completed a $25 million seed funding round led by a16z crypto, with participation from Coinbase Ventures, Jump Capital, and Wintermute Ventures, among others. The company plans to establish a wholly-owned subsidiary to issue and redeem dollar-denominated, reserve-backed stablecoins, but that subsidiary has not yet filed an application with the OCC. (Decrypt)
FBI seizes approximately $560,000 in cryptocurrency and takes control of Hamas fundraising website
Odaily News: The U.S. Federal Bureau of Investigation (FBI) has seized approximately $560,000 in cryptocurrency and taken control of the domain and servers of a fundraising website linked to Hamas. The U.S. Department of Justice stated that these funds were allegedly intended for use by Hamas's military wing, Al Qassam Brigades.Investigators tracked and confiscated the relevant crypto assets based on three seizure warrants issued on March 25, June 25, and October 10, 2025. Court documents show that the assets involved include Bitcoin, Ethereum, Wrapped Ethereum, Tether (USDT), and TRON (TRX), distributed across 18 addresses controlled by Tether and 3 Binance accounts.According to court documents, encrypted chat groups had directed supporters to visit AlQassam.ps and solicited donations via rotating wallet addresses. After the FBI took over the relevant domain and servers, it obtained information on thousands of individuals who had contacted Hamas to inquire about making donations. (Decrypt)
Crypto industry stakeholders submit differentiated rule proposals to SEC on novel ETF regulation
Odaily News Crypto enterprises, asset managers, market makers, and consumer advocacy groups have submitted comments to the U.S. Securities and Exchange Commission (SEC) in response to its request for input on the regulatory framework for "novel ETFs," covering exchange-traded products such as crypto assets, private assets, event contracts, and leveraged strategies.Crypto industry organization Crypto Council for Innovation (CCI) recommended extending certain regulatory accommodations applicable to ETFs to non-ETF exchange-traded products. Venture capital firm Andreessen Horowitz (A16z) stated that the SEC should assess products based on their underlying assets and risk profiles, rather than treating all novel ETFs as a single category.Grayscale opposed adding new portfolio restrictions for mature digital asset products, while Chainalysis suggested leveraging public blockchains to enable real-time monitoring and verifiable disclosures. Kalshi expressed support for including event contracts in registered funds, whereas consumer advocacy group Public Citizen opposed offering event contract ETFs to retail investors. The SEC will evaluate whether to adopt a unified regulatory framework or craft separate rules based on product structure and risk. (Decrypt)
Albuquerque City Council Passes Ban, Bitcoin ATM Operators Must Remove Devices Within 45 Days
Odaily News: The Albuquerque City Council in New Mexico, USA, has passed an ordinance prohibiting the use of cryptocurrency ATMs and counter-assisted virtual currency transactions within city limits. The city government will notify known operators and retailers hosting the devices, and the relevant equipment must be removed within 45 days.Albuquerque City Councilor Stephanie Telles stated that 90% of cryptocurrency ATM transactions in the city are related to scams, and noted that high fees discourage legitimate users from using such devices. Councilor Tammy Fiebelkorn pointed out that these transactions are instant, anonymous, and irreversible, characteristics that could be exploited by scam groups, organized crime, and human traffickers.The City Council stated that residents can still hold, mine, and transfer cryptocurrencies through online trading platforms and personal wallets. Indiana, Tennessee, and Minnesota have already banned such devices statewide; North America's former largest operator, Bitcoin Depot, filed for bankruptcy in May and took approximately 9,700 devices offline. (Decrypt)
Mexico Seizes 300 Crypto Mining Machines Suspected of Illegal Connection to Hydroelectric Power Supply
: Mexico's federal prosecutor's office, Navy, and Puebla State Police seized approximately 300 cryptocurrency mining machines in the mountainous northern area of Huauchinango, Puebla State. During the operation, transformers, medium-voltage cable terminals, and functional satellite internet antennas were also confiscated. Electricity at the site is suspected to have been illegally drawn from federal hydroelectric facilities powered by the Nuevo Necaxa Dam.Crypto mining itself is legal in Mexico, but prosecutors are preparing to file charges of electricity theft. Puebla State Security Secretary Francisco Sánchez stated that investigators traced local illegal mining leads due to the site's proximity to the Nuevo Necaxa Dam and discovered a large-scale power connection at the location.Suspicions of money laundering have not been ruled out. Forensic accountants are currently tracing the source of funds used to purchase the mining machines, and state authorities are also examining whether the mined output was used to launder criminal proceeds. Mexico's Federal Electricity Commission has joined the investigation. From January to July 2024, non-technical losses caused by electricity theft, meter tampering, and illegal connections amounted to approximately 6.346 billion kilowatt-hours, valued at around 1.38 billion pesos. (Decrypt)
Mexico Seizes 300 Illegal Crypto Mining Rigs, Suspected of Stealing Hydropower Station Electricity
According to Decrypt, Mexican federal prosecutors, along with the Navy and Puebla state police, raided a property in the remote mountainous area of Tlaola City, Puebla State. Approximately 300 cryptocurrency mining rigs were seized on-site, along with equipment such as transformers, medium-voltage terminals, and satellite internet antennas. The investigation revealed that the mining farm was illegally connected to the grid of the Nuevo Necaxa hydroelectric power plant, and authorities have filed charges for "theft of electricity." Forensic accountants are currently tracing the funding sources for the hardware, and money laundering suspicions have not been ruled out. Data from the Mexican Federal Electricity Commission shows that non-technical electricity losses reached as high as 6,346 gigawatt-hours between January and July 2024, valued at approximately 13.8 billion pesos (about $817 million).
Brazil's crypto market reaches $98.7 billion in 2025, with banks expanding client services while holding zero proprietary positions
Odaily News: Brazil's cryptocurrency market recorded a trading volume of 505.5 billion reais in 2025, approximately $98.7 billion, representing a more than fivefold increase from 94.9 billion reais in 2020. Corporate-related transactions totaled 497 billion reais, accounting for 98.3% of the total tracked by Brazil's Federal Revenue Service, with individual investors accounting for the remainder.Itaú, Brazil's largest bank by assets under management, now offers 15 crypto assets through its investment app, including Bitcoin, Ethereum, and the USD-pegged stablecoin USDC. Fintech company Nubank lists 28 crypto assets, while Banco do Brasil has seen trading volume exceed 11 million reais since opening direct trading in Bitcoin and Ethereum in January.Filings with the Central Bank of Brazil through March 2026 show that Brazilian banks hold no proprietary virtual asset positions, but may custody and process crypto assets on behalf of clients. Since 2025, Itaú, Bradesco, Santander, Banco do Brasil, and Nubank have all expanded their crypto asset service offerings.Brazil passed the Virtual Asset Legal Framework in 2022 and issued three regulatory resolutions in November 2025, requiring institutions providing crypto asset trading, custody, or transfer services to obtain licenses, meet minimum capital requirements, and maintain segregated client accounts, with a compliance deadline of October 30, 2026. Banco Safra issued the USD-pegged stablecoin Safra Dólar in September 2025, with the bank providing self-custody. (Decrypt)
Polymarket Launches Crypto Perpetual Contracts with Up to 20x Leverage
Odaily News - Prediction market platform Polymarket launched its perpetual contract product, Polymarket Perps, on September 3. The initial offering covers 10 contracts including Bitcoin, Ethereum, Solana, HYPE, Gold, Silver, WTI Crude Oil, S&P 500, Nasdaq 100, and a contract tracking SpaceX stock, expanding to 67 markets within hours.The product has no expiration date, with contract prices continuously tracking the underlying assets. It maintains anchoring to spot prices through funding rates settled hourly, with funding rate caps at 4% per hour in both directions. Cryptocurrencies, the S&P 500, crude oil, gold, and silver support up to 20x leverage, while individual stocks and other real-world assets support up to 10x.U.S. traders are unable to place Perps orders and will be directed to Polymarket US, which is regulated by the Commodity Futures Trading Commission (CFTC). This arrangement stems from Polymarket's 2022 settlement with the CFTC, in which the company was fined $1.4 million for operating an unregistered swap execution facility and was required to cease related non-compliant contracts. (Decrypt)
OpenReserve receives preliminary approval for full-service national bank, must raise $210 million and maintain 12% Tier 1 leverage ratio
Odaily News: Blockchain-native fintech startup OpenReserve received preliminary conditional approval from the U.S. Office of the Comptroller of the Currency (OCC) on September 2 to establish a full-service national bank in Salt Lake City, Utah. The approval process took less than five months, with OpenReserve submitting its application on April 13.OpenReserve must raise at least $210 million in initial paid-in capital within 12 months and maintain a minimum Tier 1 leverage ratio of 12% for three years after opening. It must also commence operations within 18 months, or the approval will lapse. The relevant deadlines are September 2027 and March 2028, respectively.OpenReserve plans to offer tokenized deposits, treasury management, foreign correspondent banking, and Banking-as-a-Service for institutional clients. The full-service national bank charter, upon final approval, would allow it to accept deposits and conduct lending activities.OpenReserve previously completed a $25 million seed funding round led by a16z crypto, with participation from Coinbase Ventures, Jump Capital, and Wintermute Ventures, among others. The company plans to establish a wholly-owned subsidiary to issue and redeem dollar-denominated, reserve-backed stablecoins, but that subsidiary has not yet filed an application with the OCC. (Decrypt)
Ukraine busts Kyiv-based cryptocurrency fraud ring, involved platform's monthly turnover reaches up to $1 million
According to Decrypt, the Ukrainian National Police and Security Service recently shut down a network of fake cryptocurrency investment platforms based in Kyiv. The group distributed fraudulent investment ads on Telegram, guiding users to connect their wallets and deposit funds, while silently falsifying trading returns in the background. When victims requested withdrawals, the platform claimed verification was required, instructing them to connect their main wallet and approve a small "test transaction," which triggered a built-in crypto drainer to transfer the assets to wallets controlled by the syndicate.
BitGo acquires NYDIG institutional trading business for $42.5 million, expanding derivatives and financing services
Odaily News: Digital asset infrastructure company BitGo has announced the completion of its acquisition of NYDIG's institutional trading business. The transaction employs a two-step merger structure, with total consideration of approximately $42.5 million, including $7 million in cash and approximately $35.5 million in BitGo stock.The business brings approximately 30 NYDIG employees and institutional client relationships into BitGo, offering derivatives, structured products, financing, and capital markets solutions to asset management firms, hedge funds, corporations, and family offices.The transaction also includes performance-based incentive provisions, including a $10 million cash payment tied to a revenue milestone, up to $5 million in cash and additional shares tied to a second milestone, as well as retention incentives for transferred employees.NYDIG will focus on power generation, Bitcoin mining, and high-performance computing data center operations, with the company disclosing a development pipeline exceeding 3 gigawatts. BitGo recently completed its IPO on the New York Stock Exchange, with a post-issuance valuation of approximately $2 billion, and launched the USDS token. (Decrypt)
6 dormant bitcoin wallets inactive for over 10 years transferred 553.59 BTC, worth $40.15 million, within 10 days
Odaily News reported that Galaxy Research tracking found that 6 bitcoin wallets, dormant since 2011, 2012, and 2014, transferred a total of 553.59 BTC between August 16 and 26, valued at $40.15 million at the time of transfer. Two of the wallets carry the "Salomon Client Dusted" tag linked to a New York lawsuit involving Noah Doe.One of the transfers involved 40 BTC from a wallet dormant since May 28, 2012, with the funds moved on August 26 to German crypto custodian bank Boerse Stuttgart Digital. Calculated at a cost of approximately $5, the funds appreciated by roughly 1,535,911%.The remaining transfers included 212 BTC, 150 BTC, and 132.31 BTC, originating from wallets inactive since 2012, 2014, and 2011, respectively. The Noah Doe lawsuit seeks to declare 39,069 dormant bitcoin addresses in New York State as lost property. Additionally, several long-term holding addresses moved funds following the July Coldcard hardware wallet vulnerability incident. (Decrypt)
CFTC Chairman: If Congress Continues to Stall the Clarity Act, Will Push Forward with Crypto Market Regulatory Framework
Odaily News - U.S. Commodity Futures Trading Commission (CFTC) Chairman Michael Selig stated that if the Clarity Act continues to be stalled by Democratic obstruction, the CFTC will leverage its existing authority to begin establishing a regulatory framework for crypto assets and has directed staff to expedite formal rule proposals.Selig has instructed staff to study incorporating digital asset market structure into CFTC rules, with both existing CFTC registrants and currently unregistered crypto exchanges potentially falling under regulatory scope. Rules tailored to digital assets may permit leverage and margin trading.On Thursday, Bitcoin ETFs saw net inflows of $606 million, marking the highest single-day figure since May 1; Ethereum ETFs recorded net inflows of $219 million, the highest since September 2025. Over the past 24 hours, short liquidations in the crypto market exceeded $1.2 billion, approaching $5 billion over the past two days. (Decrypt)
Fake crypto AML detection websites trick users into connecting wallets and authorizing transactions
Odaily News, Cybersecurity firm Malwarebytes has discovered that multiple fake cryptocurrency anti-money laundering (AML) detection websites are impersonating legitimate services such as AMLBot, tricking users into connecting their wallets and authorizing transactions. Legitimate AML checks only require a wallet's public address—there is no need to connect a wallet, approve permissions, or sign transactions.These websites simulate the service process through fake progress prompts and detection results. One of the sites even asks users to deposit a small amount of funds to pay so-called detection fees, after which it displays a "clean, low-risk" result regardless of whether a real check was completed. Connecting a wallet does not directly lead to asset theft, but it does expose the address and asset information, making it easier for scammers to craft transactions for users to approve.Malwarebytes noted that similar scams use the same design and process, only changing the names and logos. Users who have approved suspicious token permissions should revoke those permissions; users who have entered their mnemonic phrases or private keys should treat their wallets as compromised and transfer assets to a new wallet. (Decrypt)
Mastermind Behind $165 Million Crypto Ponzi Scheme Extradited from Fiji to U.S.
Odaily News: Edward Zimbardi, a 59-year-old Georgia resident, appeared in U.S. federal court facing 12 counts of wire fraud, 12 counts of money laundering, and one count of conspiracy to commit money laundering. Fiji authorities handed him over to U.S. custody on August 14, in coordination with the Federal Bureau of Investigation (FBI) and the U.S. State Department.Prosecutors allege that Zimbardi operated a project called "The Crypto Program" from June 2022 to August 2023, luring participants with promises of a fixed 25% monthly return on advertising packages, requiring them to transfer cryptocurrency into wallets he secretly controlled. The government claims that thousands of individuals collectively transferred over $165 million into these wallets. Prosecutors stated that Zimbardi did not purchase advertising but instead funneled more than $34 million into high-risk forex trading, using funds from new investors to pay earlier ones. His personal spending totaled at least $10 million, including purchasing property for his son, buying luxury cars, and making alimony payments.The U.S. Department of Justice stated that after the project collapsed in August 2023, Zimbardi left the country and settled in Fiji in July 2025 upon learning of the FBI investigation. The FBI is urging affected investors to come forward with information. (Decrypt)
UK NCA warns criminals are "innovatively" using crypto assets to launder money
According to Decrypt, the UK National Economic Crime Centre (NECC) stated in its annual report that criminals are "innovatively" leveraging crypto asset products to evade detection and transfer illicit funds at scale, while also highlighting AI alongside cryptocurrencies as an emerging threat method. Crypto assets have been ranked third among the nine priority economic crime areas jointly designated by NECC, the FCA, and the Treasury. NECC stated it will build more proactive, intelligence-driven crypto capabilities to actively identify targets for enforcement action. Previously, the NCA, in collaboration with the US Secret Service, Coinbase, Binance, Kraken, and Tether, conducted "Operation Atlantic," which identified 20,000 phishing attack victims and resulted in the freezing of $12 million in assets this March.
G7 urges immediate migration to post-quantum cryptography; Bitcoin, Ethereum, and Solana developers have tested defense solutions
: The G7 cybersecurity working group stated in its latest report that quantum computing poses both a security threat and an economic threat to public and private institutions, and related organizations should immediately begin migrating to post-quantum cryptography (PQC).The working group noted that the migration process could take several years, as attackers can already collect and store encrypted data today and decrypt it once sufficiently powerful quantum computers emerge. Quantum computing could also break digital signatures, leading to identity theft and exposing companies and their supply chains.The report did not mention cryptocurrencies, but similar public-key cryptography is used for blockchain wallets and transaction authorization. Current quantum computers are not yet capable of breaking Bitcoin's cryptography, but developers are considering post-quantum solutions such as BIP-360.Ethereum researchers plan to replace multiple cryptographic components used by accounts, validators, and applications. The Solana Foundation has tested post-quantum signatures on its testnet and launched an optional hash-based vault. The G7 working group also urged governments to support related research, public-private cooperation, and national PQC strategies. (Decrypt)
Sparrow Wallet Releases Version 2.5.4, AI-Assisted Code Review Fixes Multiple Security Vulnerabilities
According to Decrypt, privacy-focused Bitcoin wallet Sparrow Wallet released version 2.5.4 on August 28. Developer Craig Raw stated that the update was driven by an AI-assisted code review, with the majority of fixes originating from it. This review was prompted by the recent seed generation code vulnerability exploit affecting Coldcard, as well as the release of unrestricted AI models in China, which has significantly enhanced vulnerability scanning capabilities across large codebases. Key updates include: validating the authenticity of transactions returned by Electrum servers, enforcing stricter BitBox02 hardware wallet security requirements (firmware v9.4.0 or higher required), patching local DNS leaks, and masking sensitive credentials in debug logs. Raw noted that there are no indications of any exploits being leveraged, user funds remain secure, and he still advises all users to update at their earliest convenience.
6 dormant bitcoin wallets inactive for over 10 years transferred 553.59 BTC, worth $40.15 million, within 10 days
Odaily News reported that Galaxy Research tracking found that 6 bitcoin wallets, dormant since 2011, 2012, and 2014, transferred a total of 553.59 BTC between August 16 and 26, valued at $40.15 million at the time of transfer. Two of the wallets carry the "Salomon Client Dusted" tag linked to a New York lawsuit involving Noah Doe.One of the transfers involved 40 BTC from a wallet dormant since May 28, 2012, with the funds moved on August 26 to German crypto custodian bank Boerse Stuttgart Digital. Calculated at a cost of approximately $5, the funds appreciated by roughly 1,535,911%.The remaining transfers included 212 BTC, 150 BTC, and 132.31 BTC, originating from wallets inactive since 2012, 2014, and 2011, respectively. The Noah Doe lawsuit seeks to declare 39,069 dormant bitcoin addresses in New York State as lost property. Additionally, several long-term holding addresses moved funds following the July Coldcard hardware wallet vulnerability incident. (Decrypt)
Grayscale launches Zcash ETF, trading on NYSE Arca following key privacy vulnerability fix
Odaily News - Digital asset manager Grayscale's Zcash ETF began trading on NYSE Arca on Tuesday under the ticker ZCSH. The product is the world's first exchange-traded product offering spot exposure to Zcash, allowing investors to track ZEC prices through securities accounts without needing to directly purchase or store the token.ZCSH was formerly known as the Grayscale Zcash Trust, established in October 2017 through a private placement. Grayscale filed an application with the U.S. Securities and Exchange Commission in November 2025 to convert the trust into an ETF, with shareholders holding shares that track the fund's ZEC holdings rather than holding ZEC directly.In May of this year, security researcher Taylor Hornby, using Anthropic's Claude Opus 4.8, discovered a vulnerability in Zcash's Orchard shielded pool that had existed for four years, which could potentially allow attackers to mint counterfeit ZEC. Developers deployed an emergency patch on June 1, but due to privacy mechanisms, it was not possible to cryptographically confirm whether the vulnerability had been exploited.Zcash activated the Ironwood upgrade in July, replacing Orchard with a new shielded pool and introducing accounting rules that limit the amount of ZEC exiting the old shielded pool to no more than the amount entering. Grayscale stated it will monitor the adoption of the Ironwood upgrade, network security, exchange support, and regulatory conditions for privacy assets. (Decrypt)
CME Group Chairman Terry Duffy and Kalshi Co-founder Luana Lopes Lara Clash Verbally at CFTC Roundtable
Odaily News CME Group Chairman Terry Duffy, the operator of the world's largest futures exchange, and Luana Lopes Lara, co-founder of prediction market platform Kalshi, clashed verbally during a U.S. Commodity Futures Trading Commission (CFTC) roundtable in Washington. Duffy questioned whether prediction markets face the same regulatory scrutiny as established exchanges and noted that certain contracts could be subject to manipulation.Terry Duffy stated that CME Group is not a "barker at the circus" and mocked some contracts offered by Kalshi, including the Nathan's Hot Dog Eating Contest contract. Luana Lopes Lara responded that traditional markets and exchanges carry risks as well and that regulators are responsible for identifying and addressing such issues. DraftKings CEO Jason Robins subsequently called on both sides to stop attacking each other's business models.The dispute comes amid ongoing disagreements between federal regulators and states over the regulatory authority of prediction markets, with the central question being whether contracts involving sports, elections, and other real-world events are federally regulated derivatives or gambling products subject to state law. Last week, a Washington state judge ordered Kalshi to stop offering certain contracts. Two days ago, the CFTC instructed Kalshi to continue trading, pushing back against New York state's efforts to block its contracts. (Decrypt)
MetaMask Adds New Anti-Scam Protection Feature, Can Automatically Revert Transactions That Don't Match Preview
Odaily Report: Crypto wallet MetaMask has launched new anti-scam protection features that alert users on mobile and browser extensions about risks including impersonation addresses, investment and romance scams, as well as the risk of transferring funds to a first-time recipient address.The newly added Added Protection feature can automatically revert transactions that don't match the transaction preview. It is initially launching on browser extensions, with mobile support to follow. MetaMask also uses AI to identify phishing, scams, and malicious transaction behavior. (Decrypt)
Brent crude breaks above $100, Polymarket bets odds of hitting $100 this month rise to 59%
Odaily News: Brent crude was reported at $101.09 on Wednesday morning, up 3.2% on the day, marking its first time above $100 in six weeks; West Texas Intermediate crude was at $96.27. Saudi officials said Houthi militants attacked Saudi oil facilities on Tuesday morning, injuring 73 people.The U.S. Central Command destroyed five Iranian oil tankers the same day, following an attack on three on Saturday, in response to an Iranian ballistic missile strike on a U.S. warship. The crude oil market has been repricing following the escalation of related events.In Myriad's market on whether crude first hits $120 or falls to $55, the probability for the $120 side is 56.5%, up 15.1 percentage points from early September; the market has seen $12.7 million in trading volume since March. Polymarket data shows the probability of WTI hitting $100 this month is 59%, up 9 percentage points, while the probability of hitting $105 is 30%, up 25 percentage points.On Polymarket, the probability of WTI falling to $85 this month has dropped to 39%, down 33 percentage points from the previous reading, with probabilities for all levels below $85 under 10%; the probability for $55 is 1%. U.S. diesel prices rose to $5.94 per gallon on Wednesday, surpassing last week's high, while the average gasoline price stood at $4.22. (Decrypt)
Brazil's crypto market reaches $98.7 billion in 2025, with banks expanding client services while holding zero proprietary positions
Odaily News: Brazil's cryptocurrency market recorded a trading volume of 505.5 billion reais in 2025, approximately $98.7 billion, representing a more than fivefold increase from 94.9 billion reais in 2020. Corporate-related transactions totaled 497 billion reais, accounting for 98.3% of the total tracked by Brazil's Federal Revenue Service, with individual investors accounting for the remainder.Itaú, Brazil's largest bank by assets under management, now offers 15 crypto assets through its investment app, including Bitcoin, Ethereum, and the USD-pegged stablecoin USDC. Fintech company Nubank lists 28 crypto assets, while Banco do Brasil has seen trading volume exceed 11 million reais since opening direct trading in Bitcoin and Ethereum in January.Filings with the Central Bank of Brazil through March 2026 show that Brazilian banks hold no proprietary virtual asset positions, but may custody and process crypto assets on behalf of clients. Since 2025, Itaú, Bradesco, Santander, Banco do Brasil, and Nubank have all expanded their crypto asset service offerings.Brazil passed the Virtual Asset Legal Framework in 2022 and issued three regulatory resolutions in November 2025, requiring institutions providing crypto asset trading, custody, or transfer services to obtain licenses, meet minimum capital requirements, and maintain segregated client accounts, with a compliance deadline of October 30, 2026. Banco Safra issued the USD-pegged stablecoin Safra Dólar in September 2025, with the bank providing self-custody. (Decrypt)
Pencil Finance completes $1 million in fully on-chain student loan financing and repayment cycle
Odaily News: Decentralized lending protocol Pencil Finance has completed the fundraising, disbursement, repayment tracking, and fund return of a $1 million student loan portfolio entirely on-chain, constituting a full financing and repayment cycle. Animoca Brands, Open Campus, and NewCampus provided funding for this portfolio in July 2025.Education financing company ErudiFi disbursed the majority of funds through student loans and tuition financing in Southeast Asia, covering markets such as Indonesia and the Philippines. The portfolio ran for 12 months, supporting more than 6,600 students across 118 schools and universities, with approximately 1,050 students receiving funding directly attributable to Pencil Finance.Investors were split into senior and subordinated tranches — the former receiving fixed returns with priority repayment rights, while the latter earned variable returns and bore the first losses from defaults. Pencil Finance claims this is the first fully on-chain student loan cycle, but did not disclose interest rates, investor yields, default rates, or blockchain transaction records. (Decrypt)
G7 urges immediate migration to post-quantum cryptography; Bitcoin, Ethereum, and Solana developers have tested defense solutions
: The G7 cybersecurity working group stated in its latest report that quantum computing poses both a security threat and an economic threat to public and private institutions, and related organizations should immediately begin migrating to post-quantum cryptography (PQC).The working group noted that the migration process could take several years, as attackers can already collect and store encrypted data today and decrypt it once sufficiently powerful quantum computers emerge. Quantum computing could also break digital signatures, leading to identity theft and exposing companies and their supply chains.The report did not mention cryptocurrencies, but similar public-key cryptography is used for blockchain wallets and transaction authorization. Current quantum computers are not yet capable of breaking Bitcoin's cryptography, but developers are considering post-quantum solutions such as BIP-360.Ethereum researchers plan to replace multiple cryptographic components used by accounts, validators, and applications. The Solana Foundation has tested post-quantum signatures on its testnet and launched an optional hash-based vault. The G7 working group also urged governments to support related research, public-private cooperation, and national PQC strategies. (Decrypt)
Polymarket Launches Crypto Perpetual Contracts with Up to 20x Leverage
Odaily News - Prediction market platform Polymarket launched its perpetual contract product, Polymarket Perps, on September 3. The initial offering covers 10 contracts including Bitcoin, Ethereum, Solana, HYPE, Gold, Silver, WTI Crude Oil, S&P 500, Nasdaq 100, and a contract tracking SpaceX stock, expanding to 67 markets within hours.The product has no expiration date, with contract prices continuously tracking the underlying assets. It maintains anchoring to spot prices through funding rates settled hourly, with funding rate caps at 4% per hour in both directions. Cryptocurrencies, the S&P 500, crude oil, gold, and silver support up to 20x leverage, while individual stocks and other real-world assets support up to 10x.U.S. traders are unable to place Perps orders and will be directed to Polymarket US, which is regulated by the Commodity Futures Trading Commission (CFTC). This arrangement stems from Polymarket's 2022 settlement with the CFTC, in which the company was fined $1.4 million for operating an unregistered swap execution facility and was required to cease related non-compliant contracts. (Decrypt)
Related news
DeFi Dev Corp adds 55,000 SOL, launches $300M CHAD preferred stock plan
According to Decrypt, Solana treasury company DeFi Development Corp (DFDV) announced the acquisition of an additional 55,491 SOL tokens (approximately $5.78 million), bringing its total SOL holdings to approximately 2.389 million, representing a roughly 2% increase from August 27. Meanwhile, the company announced the launch of a $300 million ATM program for CHAD variable-rate Series C perpetual preferred shares, with New York broker R.F. Lafferty & Co. acting as the sole sales agent, and the proceeds intended primarily to further increase SOL holdings. The company noted that issuance will only occur when the price is at or above a $10 par value per share, with no mandatory selling requirements. CHAD's first issuance was completed on September 8, raising approximately $11 million, with Fundstrat founder Tom Lee participating in the subscription. As CHAD comprises non-convertible preferred shares, any subsequent issuances will not dilute the equity of common shareholders.
MetaMask Adds New Anti-Scam Protection Feature, Can Automatically Revert Transactions That Don't Match Preview
Odaily Report: Crypto wallet MetaMask has launched new anti-scam protection features that alert users on mobile and browser extensions about risks including impersonation addresses, investment and romance scams, as well as the risk of transferring funds to a first-time recipient address.The newly added Added Protection feature can automatically revert transactions that don't match the transaction preview. It is initially launching on browser extensions, with mobile support to follow. MetaMask also uses AI to identify phishing, scams, and malicious transaction behavior. (Decrypt)
India Launches Tokenization Pilot for $620 Billion Corporate Bond Market
Odaily reports: The Securities and Exchange Board of India (SEBI), in collaboration with the Reserve Bank of India (RBI), has launched the "Demat 2.0" pilot to issue and settle corporate bond tokens on permissioned ledgers operated by NSDL and CDSL, covering a corporate bond market of approximately $620 billion.State-owned lender REC, Larsen & Toubro, and non-bank lender IIFL Finance have collectively raised approximately $107 million through this framework. The system connects to the RBI's wholesale digital rupee to enable simultaneous settlement of bonds and funds, and automates interest payments and redemptions via smart contracts.SEBI stated that the legal terms, credit ratings, trustee arrangements, listing rules, and investor protections for tokenized bonds remain unchanged. Investors can hold tokens in their existing Demat accounts, with secondary trading and retail participation to be introduced in subsequent phases. (Decrypt)
Albuquerque Bans Cryptocurrency ATMs, Requires Operators to Remove Devices Within 45 Days
According to Decrypt, the Albuquerque city council in New Mexico has passed an ordinance banning cryptocurrency ATMs and cashier-assisted virtual currency transactions within the city, requiring operators and retailers hosting the devices to remove them within 45 days. Council members stated that approximately 90% of local cryptocurrency ATM transactions are linked to fraud. Due to the instant, anonymous, and irreversible nature of the transactions, these machines are considered highly vulnerable to exploitation by scammers and organized crime.
Albuquerque City Council Passes Ban, Bitcoin ATM Operators Must Remove Devices Within 45 Days
Odaily News: The Albuquerque City Council in New Mexico, USA, has passed an ordinance prohibiting the use of cryptocurrency ATMs and counter-assisted virtual currency transactions within city limits. The city government will notify known operators and retailers hosting the devices, and the relevant equipment must be removed within 45 days.Albuquerque City Councilor Stephanie Telles stated that 90% of cryptocurrency ATM transactions in the city are related to scams, and noted that high fees discourage legitimate users from using such devices. Councilor Tammy Fiebelkorn pointed out that these transactions are instant, anonymous, and irreversible, characteristics that could be exploited by scam groups, organized crime, and human traffickers.The City Council stated that residents can still hold, mine, and transfer cryptocurrencies through online trading platforms and personal wallets. Indiana, Tennessee, and Minnesota have already banned such devices statewide; North America's former largest operator, Bitcoin Depot, filed for bankruptcy in May and took approximately 9,700 devices offline. (Decrypt)
Brent crude breaks above $100, Polymarket bets odds of hitting $100 this month rise to 59%
Odaily News: Brent crude was reported at $101.09 on Wednesday morning, up 3.2% on the day, marking its first time above $100 in six weeks; West Texas Intermediate crude was at $96.27. Saudi officials said Houthi militants attacked Saudi oil facilities on Tuesday morning, injuring 73 people.The U.S. Central Command destroyed five Iranian oil tankers the same day, following an attack on three on Saturday, in response to an Iranian ballistic missile strike on a U.S. warship. The crude oil market has been repricing following the escalation of related events.In Myriad's market on whether crude first hits $120 or falls to $55, the probability for the $120 side is 56.5%, up 15.1 percentage points from early September; the market has seen $12.7 million in trading volume since March. Polymarket data shows the probability of WTI hitting $100 this month is 59%, up 9 percentage points, while the probability of hitting $105 is 30%, up 25 percentage points.On Polymarket, the probability of WTI falling to $85 this month has dropped to 39%, down 33 percentage points from the previous reading, with probabilities for all levels below $85 under 10%; the probability for $55 is 1%. U.S. diesel prices rose to $5.94 per gallon on Wednesday, surpassing last week's high, while the average gasoline price stood at $4.22. (Decrypt)