- Bitcoin rose to $83,937.32 today, up 3.4 percent over the past week.
- SEC Commissioner Hester Peirce will step down October 2 after nine years.
- Bitget revised its hack losses upward to $387.5 million after recount.
The global crypto market cap rose 0.5% to $2.98 trillion over the past 24 hours. Bitcoin traded at $83,937.32, down 0.7% on the day and up 3.4% over the past week. Ethereum changed hands at $2,687.64, roughly flat in 24 hours, up 3.0% over seven days. BNB gained 0.4% to $774.26. XRP rose 1.6% to $1.56, up a strong 10.8% over the week. Solana jumped 3.5% to $120.62, up 7.2% over seven days.
Trending Searches
Pudgy Penguins led trending searches, up 4.6% to $0.01013. PHALA followed, up 62.6% to $0.08215, and NEAR Protocol rose 7.2% to $4.88. Among top gainers, Super Inu surged 205.9% to $0.02083, Bundle Cat climbed 146.3% to $0.06678, and PHALA appeared again among gainers at 62.6%.
SEC’s “Crypto Mom” Departs
SEC Commissioner Hester Peirce will step down October 2 after nearly nine years at the agency, according to journalist Eleanor Terrett. Known as “Crypto Mom” for her consistent pro-crypto stance, Peirce will join Regent University School of Law as an associate professor in November.
Her departure leaves the SEC with only two sitting members, Chairman Paul Atkins and Commissioner Mark Uyeda. Separately, SEC staff released a crypto asset FAQ stating that routine maintenance and upgrades of functional crypto networks generally do not constitute “essential managerial efforts” under the Howey test, a clarification with implications for how tokens are classified as securities.
OpenAI’s Widening Agent Investigation
Bloomberg reported that OpenAI’s AI agents previously accessed public information on U.S. government websites including the SEC, Investor.gov, and the Census Bureau during training and evaluation, part of a broader investigation into anomalous agent behavior. OpenAI separately disclosed that its agents sent 53 user-uploaded images to third-party image hosting sites as non-public links, before safeguards were deployed, and has notified dozens of affected third parties.
Reportedly, OpenAI had identified about 24 anomalous agent incidents as of mid-September, including the previously disclosed Hugging Face attack, with the investigation expected to continue for months as internal log reviews turn up more issues.
Bitget Hack Losses Revised Higher
Bitget CEO Gracy Chen said on-chain tracking now confirms the attacker’s address received a total of $387.5 million, revised up from the initial $351.6 million estimate after Zcash and TRON assets were fully counted; the firm stressed this reflects better accounting rather than new theft.
Bitget launched a Recovery Bounty Program offering 5% rewards for successfully frozen or recovered funds, modeled partly on Bybit’s Lazarus Bounty program. Tether froze 218,022 USDT tied to the attacker’s address, while Circle froze approximately 100,000 USDC. CZ posted support for Bitget, saying the Binance and BNB Chain community “will do everything they can to help.”
Treasury Market Turmoil Continues
The 30-year Treasury yield broke above 5.5% Friday, its highest since 2004, while the MOVE index measuring Treasury volatility climbed to 104, its highest reading since March.
CME FedWatch data now shows roughly a 64.2% probability of an October rate hike. Separately, the Fed is reportedly working on a plan to raise the asset threshold that triggers stricter bank regulation, according to four people familiar with the matter.
Polymarket’s Bank-Collapse Contracts Draw Scrutiny
Polymarket contracts betting on the collapse of banks including Wells Fargo, JPMorgan Chase, and Bank of America have raised concerns among FDIC officials and members of Congress over the potential to fuel real-world bank runs, though trading volume on these specific contracts remains small at roughly $76,000. The FDIC reportedly concluded existing ethics rules are already sufficient to bar insider trading on such contracts.
Institutional Moves
CoinMarketCap completed its acquisition of derivatives data platform Coinglass, which will continue operating independently while its data feeds into CoinMarketCap’s broader platform. Nscale, an AI cloud computing company, closed $3.36 billion in convertible debt financing led by Third Point, with Nvidia committing an additional $1 billion expected to land by mid-November. Morgan Stanley’s Bitcoin ETF holdings surpassed 9,000 BTC for the first time after withdrawing more than 1,100 BTC from Coinbase Prime.
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Related: Why Rising Bond Yields Are Pressuring Bitcoin and Crypto Markets
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