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Sec Unveils Crypto Custody Plan As Advisers Gain Potential Path To Self-Custody

Bitcoin traded near $86,800 on October 2 as the SEC proposed new rules for crypto custody. The proposal would let advisers use self-custody when qualifying custodians cannot hold specific crypto assets. The SEC issued the proposal on October 1 under the Investment Advisers Act and Investment Company Act. The agency also proposed allowing state-chartered trust companies to provide qualifying crypto custody services. The plan remains a proposal, so it does not immediately change existing custody requirements. However, it opens a formal 60-day public comment period after Federal Register publication. Bitcoin Price And The SEC Custody Proposal Bitcoin has traded above $86,000 as the cryptocurrency market enters October with stronger momentum. Barron’s reported Bitcoin at $86,885 on October 2, up 2.7% during the session. Against that market backdrop, the SEC has focused on a specific operational problem affecting regulated crypto activity. Some advisers have faced limited custody options fo...
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Porsche Wraps Up Web3 ‘Long Haul’ Project in Under Four Years

Porsche has announced it is winding down its Web3 initiative and the “Pioneers Circle” community launched alongside its Porsche 911 NFT collection. The automaker said the program is ending nearly four years after the project first went live, while confirming that the NFTs themselves will remain with holders and continue to exist onchain. In an update posted to X, Porsche stated that the effort had grown beyond an initial technology-focused experiment into community-led activities, including both online and offline events. However, the company now says it will conclude the project and transition community access into an archive rather than an actively maintained platform. Key takeaways Porsche is ending its Web3 project and discontinuing its “Pioneers Circle” community nearly four years after launching the Porsche 911 NFT collection. The Porsche 911 NFTs will remain onchain for current holders; Porsche says it will not remove the tokens. Porsche plans to convert its Discord server...
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Arthur Hayes Says Money Printing Persists as Wall Street Moves On-Chain

Arthur Hayes, chief investment officer at Maelstrom, argued at Cointelegraph’s CONNECT by Cointelegraph: Seoul Edition during Korea Blockchain Week that US policymakers may ultimately have to rely on additional money creation to support AI-driven infrastructure spending and to absorb the strain of mounting government debt. Hayes’ remarks tied crypto valuations to macro policy choices, warning that the “money printing” he expects could function like a slow-moving crisis rather than an immediate catalyst. The event also featured discussions on how traditional Wall Street and financial institutions are moving deeper into blockchain markets, why intermediaries are still likely to play a role, and how stablecoin adoption and crypto treasury management are evolving. Key takeaways Arthur Hayes said AI and finance-related spending pressures may push US policymakers toward more monetary support, which he believes can benefit risk assets including crypto. Speakers at CONNECT argued that incu...
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Ethereum L2 Set for Wind-Down as Operating Costs Beat Revenue

Blast, an Ethereum layer-2 network known for offering yield on Ether and stablecoins, is preparing to shut down its operations, citing unsustainable economics. In a Friday post on X, the Blast team said it sees no “credible path” to keeping the chain financially viable, and urged users to withdraw their assets to Ethereum mainnet. Blast says the decision comes down to costs exceeding revenue. “We launched Blast with the goal of building a self-sustaining chain for users and developers,” the team wrote. “Unfortunately, the economics of operating the chain no longer make sense.” Key takeaways Blast announced it will shut down, saying it can’t find a credible path to economic sustainability. Users are being asked to withdraw assets to Ethereum mainnet ahead of an Oct. 26 cutoff. Withdrawal delays will be reduced to 24 hours, but withdrawals will be temporarily unavailable while Blast unwinds Lido-related assets over about a week. After Oct. 26, assets should remain accessible, but...
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Bitcoin Touches $87K After Weak US Jobs Data Pulls Bond Yields Down

Bitcoin briefly surged above $87,000 on Friday, reaching a peak around $87,229 on Bitstamp before stalling near recent multi-month levels. The move followed a notable miss in US labor-market data, which pushed expectations for further Federal Reserve rate hikes further out and drove US bond yields lower. While the latest jobs print helped reignite risk-on conditions—US stocks rose early in the session—Bitcoin’s advance did not immediately translate into fresh, sustained highs. Traders pointed to overhead liquidity and tightening resistance around the mid-to-high $87,000 area as investors weighed whether the “yield relief” rally would have legs. Key takeaways Bitcoin tapped roughly $87,200 on Friday, but failed to convincingly extend its push beyond nearby multi-month highs. September nonfarm payrolls increased by 29,000, below expectations of 84,000, with August and July both revised downward. Markets scaled back hawkish rate-hike odds: CME’s FedWatch Tool showed only an 18% chan...
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Lloyds Survey: 71% of UK Finance Leaders Expect Tokenization Impact

Tokenization is moving from experiments to mainstream expectation in the UK financial sector, according to a new survey by Lloyds Banking Group. Nearly three-quarters of senior decision-makers at major UK banks, insurers, asset managers, and financial sponsors believe tokenization will reshape financial services. The results highlight growing momentum for using blockchain-based infrastructure to improve payments and settlement, alongside a less visible but equally important focus: how tokenization could change the way capital, collateral, and liquidity are managed across institutions. The survey also comes as UK regulators and government bodies look for ways to extend tokenization efforts beyond pilots and into core market infrastructure. Key takeaways Tokenization is widely viewed as transformative: Lloyds’ survey found that nearly three-quarters of major UK institutions expect it to reshape financial services. Faster settlement is the top benefit: 60% of respondents cited imp...
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Crypto Sees Billions Return as Trading Premiums Fade

Crypto fundraising and public-market plans are restarting, but the investor appetite that once rewarded crypto balance sheets at steep premiums appears to be fading. New reporting points to sharply different valuations for companies trying to access capital—ranging from prediction market operator Kalshi to exchange and wallet provider Blockchain.com—while a DWF Ventures analysis suggests that many digital asset treasury firms still trade below the value of their holdings. Separately, Bitget’s leadership is signaling limited expectations for recovering funds tied to a $388 million security breach, as some blocked or seized assets have been confirmed and withdrawals resumed in stages. Together, these developments offer a snapshot of where capital is flowing now: less into “premium” crypto exposure, and more toward business models with clearer financing logic and faster risk resolution. Key takeaways DWF Ventures reports only four of the 20 largest digital asset treasury firms trade abo...
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