Core Points - Singapore's High Court has approved Zettai Pte. Ltd.'s restructuring scheme, allowing Indian crypto exchange WazirX to reopen after a significant hack [1] - A re-vote in August showed 95.7% of creditors by number and 94.6% by value supported the restructuring plan [1] Group 1: Restructuring and Reopening - WazirX founder Nischal Shetty stated that platform operations will restart within 10 business days once the scheme is legally effective, potentially before the end of October [2] - This reopening represents a rare court-supervised resurrection in the exchange sector [2] Group 2: User Recovery and Trust - Users affected by the hack are expected to regain access to the platform and receive initial distributions shortly after the restart [2] - WazirX plans to partner with U.S.-based custodian BitGo to enhance asset protection and rebuild user trust [3] Group 3: Security and Recovery Measures - The exchange aims to launch a decentralized exchange (DEX) and issue recovery tokens that can be traded, along with a periodic buyback of these tokens using platform profits [3] - WazirX users lost over $230 million in a security breach attributed to the Lazarus Group, which involved private key interception [4] - The hacker laundered the stolen funds using Tornado Cash, complicating recovery efforts [5]

Core Insights - The corporate buyer of Bitcoin has significantly expanded over the past year, with at least 152 public companies now holding approximately 950,000 Bitcoins valued at over $110 billion, compared to just over 416,000 Bitcoins held a year ago [2][5] - Companies are increasingly adding cryptocurrencies to their balance sheets to diversify portfolios, hedge against inflation, and attract new investors, with the unspoken goal of boosting stock prices through the announcement of "crypto treasury" strategies [3][4] - The real profits from this crypto boom are flowing to custodians, brokers, asset management firms, and investment banks that charge fees for transactions, transfers, and storage agreements [4][8] Company and Industry Summaries - Anchorage Digital has signed multiple agreements to manage significant Bitcoin reserves for various companies, indicating a peak in demand for custodial services [4][9] - MicroStrategy, now known as Strategy, leads the corporate Bitcoin holdings with approximately 628,946 Bitcoins valued at $730 billion, showcasing a premium of 25% over its market capitalization [6][11] - The trend of corporate crypto treasuries has led to substantial fundraising, with companies raising over $98 billion this year alone, and an additional $59 billion pledged since June [6][14] - Major custodians like BitGo and Coinbase are benefiting from the surge in demand for crypto treasury services, with BitGo's assets under custody expected to exceed $100 billion by mid-2025 [8][13] - Traditional investment banks such as Morgan Stanley and Barclays are capitalizing on the issuance of preferred stocks and convertible bonds, generating significant underwriting fees [8][14] - The crypto treasury trend is expected to continue growing, with companies likely to seek differentiated strategies to generate returns on their crypto assets, potentially leading to increased reliance on institutional lenders and asset management firms [14][15]

Core Insights - Solana Company, formerly known as Helius Medical Technologies, has entered into custodial agreements with Coinbase, BitGo, and Anchorage Digital to enhance its digital assets treasury strategy focused on acquiring SOL, the native asset of the Solana Network [1][2]. Company Overview - Solana Company (NASDAQ: HSDT) is a digital asset treasury dedicated to acquiring Solana (SOL), created in partnership with Pantera Capital and Summer Capital [4]. - The company aims to maximize SOL per share by leveraging capital market opportunities and on-chain activity, providing public market investors with optimal exposure to Solana's growth [4]. Strategic Partnerships - The establishment of relationships with leading custodians like Coinbase, BitGo, and Anchorage Digital reflects the company's disciplined approach to maximizing shareholder value [2]. - These custodial relationships are expected to strengthen the company's ability to support the Solana ecosystem at scale and advance its long-term vision for the leading blockchain network [2]. Market Position and Performance - Solana has been recognized as the fastest-growing blockchain, leading the industry in transaction revenue and processing over 3,500 transactions per second [2]. - The network boasts approximately 3.7 million daily active wallets and has surpassed 23 billion transactions year-to-date [2]. - SOL offers a ~7% native staking yield, distinguishing it from non-yield-bearing assets like BTC [2].

Core Insights - Banco de Crédito del Perú (BCP) has launched Criptococos, the first bank-backed crypto platform in Peru, in partnership with BitGo, marking a significant step in Latin America's digital finance landscape [1][3][7] - Criptococos allows users to buy and sell Bitcoin and USDC in a regulated environment, ensuring compliance with anti-money laundering and counter-terrorism financing standards [2][4] - The initiative aims to provide clients with secure access to digital assets while maintaining the reliability associated with traditional banking services [2][3][5] Company Overview - BCP, as the largest financial institution in Peru, is leveraging its 135-year legacy to pioneer regulated crypto banking, integrating blockchain innovation with established financial practices [5][8] - The platform is currently in a pilot phase, available to eligible clients who meet specific criteria, including a verified banking history [4][6] Industry Trends - The launch of Criptococos reflects a broader trend in Latin America where banks are collaborating with blockchain firms to create secure frameworks for digital asset adoption [7][11] - This initiative positions BCP as a leader in merging regulated finance with blockchain technology, setting a precedent for other institutions in the region [8][11]

Bitmine keeps accumulating $ETH — 5 hours ago, they received another 23,823 $ETH($103.68M) from BitGo.https://t.co/DLOO6fgc7Khttps://t.co/w5uTBr9jZg https://t.co/nScuFMDf5XLookonchain (@lookonchain):Newly created wallet 0xedf1(likely belonging to #Bitmine) bought 20,020 $ETH($89.7M) via #FalconX 2 hours ago.https://t.co/ehhVwJO555 https://t.co/WUUJ7nt8P7 ...

Market Trends - Whale entities are accumulating Bitcoin [1] - One whale withdrew 650 BTC (approximately $80 million) from Binance [1] - The whale's holdings currently amount to 2,091 BTC (approximately $257 million) [1] - A fresh wallet received 1,183 BTC (approximately $144 million) from GalaxyDigital [1] - Another fresh wallet received 500 BTC (approximately $60.85 million) from BitGo [1]

Core Insights - The article discusses the introduction of the Hashdex Nasdaq Crypto Index US ETF (NCIQ), which provides a diversified, regulated way for U.S. investors to gain exposure to multiple cryptocurrencies without the complexities of managing individual assets [2][4][44] - NCIQ is positioned as a significant innovation in the crypto investment landscape, allowing investors to own a basket of leading cryptocurrencies while benefiting from institutional-grade oversight and transparency [14][45][46] Fund Structure and Mechanics - NCIQ wraps major U.S.-eligible cryptocurrencies, including Bitcoin, Ethereum, Solana, Cardano, Ripple, and Stellar, into a single investment vehicle that adjusts automatically based on market conditions [4][6] - The fund operates as a Delaware statutory trust, ensuring that all transactions occur in cash, which simplifies operations and enhances regulatory compliance [6][7] - The benchmark for NCIQ, the Nasdaq Crypto US Settlement Price Index (NCIUSS), employs strict methodologies to minimize manipulation and ensure transparency [5][12] Investment Case - NCIQ's inclusion of a broader range of cryptocurrencies beyond Bitcoin and Ethereum allows investors to capture diverse segments of the crypto economy, which is a shift from previous single-asset ETFs [8][10] - The management fee for NCIQ has been reduced to 0.25% through December 31, 2025, enhancing its cost efficiency and potentially leading to a fee war in the crypto ETF market [9][10] - The ETF provides a simple entry point for investors, allowing them to gain diversified exposure without the need for wallets or private keys, making it suitable for both retail and institutional investors [11][40] Performance Metrics - As of September 30, 2025, NCIQ has shown strong performance with a +3.40% return at market price over the past month and a +23.51% return since inception [17][18] - The fund has maintained tight bid-ask spreads and efficient arbitrage, indicating that its internal mechanics are functioning effectively [19][20] Risk Profile - NCIQ's Herfindahl-Hirschman Index (HHI) indicates a high concentration in Bitcoin, which drives most of the fund's returns and volatility [22][23] - The ETF's performance is significantly influenced by Bitcoin and Ethereum, which account for 80-85% of total index variance [24] - Operational risks, such as liquidity issues and regulatory changes, could impact NCIQ's performance and investor confidence [28][30] Portfolio Integration - NCIQ is designed to fit within diversified portfolios as a core crypto beta, typically making up 1-5% of total allocation [38] - For investors already holding Bitcoin or Ethereum, NCIQ serves as a complementary asset that reduces single-asset risk [39] - New investors can utilize NCIQ as a straightforward entry point into the crypto market, benefiting from institutional-grade custody and trading convenience [40][42]

As part of an expansion of its services, American cryptocurrency exchange Coinbase is pursuing a national trust company charter from the Office of the Comptroller of the Currency (OCC). It has now joined the list of other digital asset service providers seeking the same charter in recent times. The exchange believes that holding this charter will bring significant changes to its operation. Coinbase to Become a Bank? On October 3, Coinbase informed the public of its pursuit of the United States OCC Federa ...

Core Insights - Bullish has launched spot trading in the United States, aiming to provide precision, efficiency, and compliance for institutional and advanced traders [1][2] - The platform has achieved over $1.5 trillion in cumulative trading volume since late 2021 and ranks among the top ten exchanges for Bitcoin and Ether trading [2] - The launch is supported by regulatory approvals from the New York State Department of Financial Services, allowing trading in 20 states [1][4] Company Features - Bullish offers 0% maker fees and ultra-low taker fees for institutional accounts, along with 0% trading fees for individual accounts [6] - The platform combines a central limit order book with Automated Market Maker technology to ensure deep liquidity and efficient trade execution [4][6] - High-throughput APIs are available for programmatic trading strategies, enhancing the trading experience for users [6] Market Position - The U.S. launch is seen as a significant milestone for Bullish, positioning it as a trusted venue for high-performance trading tailored to institutional needs [2][3] - The platform is designed to meet the unique demands of hedge funds, proprietary trading firms, market makers, and high-frequency traders [2][3] - Bullish's focus on liquidity, compliance, and execution quality aligns with the needs of institutional investors, as highlighted by partners like Nonco and BitGo [3][4] Availability - Bullish is currently operational in states including Arizona, California, Florida, New York, and Washington, D.C., with plans for further expansion [5][6] - Interested parties in other states can join a waitlist for future access [5]

Core Viewpoint - The U.S. Securities and Exchange Commission (SEC) will not pursue enforcement actions against investment advisers and registered funds using state-chartered trust companies for crypto asset custody, providing temporary clarity in a previously uncertain regulatory environment [1][6]. Group 1: Regulatory Clarity - The SEC's letter indicates that state-chartered trusts may be treated as "banks" under the Investment Advisers Act of 1940 and the Investment Company Act of 1940 for safeguarding digital assets [2]. - Investment advisers and regulated funds can now place client crypto holdings and related cash with state-chartered trusts without violating federal custody rules [3][4]. - The SEC's guidance is significant as federal law requires advisers to use a "qualified custodian," typically a national bank or trust company, to hold client assets [4]. Group 2: Conditions and Compliance - Advisers must conduct due diligence to ensure that the state-chartered trust is authorized by its state banking authority for crypto custody, maintains audited financial statements, and has internal controls verified by independent accountants [5]. - Trusts must follow strict policies to protect private keys, segregate client assets, and prohibit rehypothecation without client consent [5]. Group 3: Market Implications - The SEC's no-action position could broaden the crypto custody market, allowing greater participation from firms such as Coinbase, Ripple's Standard Custody, BitGo, and WisdomTree [6][7]. - The additional clarity from the SEC was deemed necessary to address uncertainties regarding the eligibility of state-chartered trusts [7].