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Bitwise and Hyperliquid Push SEC Rule Changes on Token Trading and Airdrops

Two crypto industry groups have asked the US Securities and Exchange Commission (SEC) to make its proposed crypto regulatory framework more workable, arguing that key provisions on token classification, airdrops, and secondary-market trading still leave too many practical questions unanswered. Bitwise Asset Management and the Hyperliquid Policy Center submitted comment letters ahead of the SEC’s public-comment deadline for its proposed Regulation Crypto Assets, which would introduce exemptions for qualifying crypto fundraising and a conditional safe harbor for certain tokens linked to investment contracts. The SEC is set to review the submissions before deciding whether to revise, adopt, or withdraw the proposal. Key takeaways Bitwise urged the SEC to provide a clearer, manager-friendly standard for determining when a crypto asset is subject to securities laws, using publicly available information. The Hyperliquid Policy Center asked the SEC to expand the proposed safe harbor—warni...
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Bitcoin Jumps to $83.3K as US Stocks Rally and Oil Slips After Q3 Earnings

Bitcoin briefly returned to the $83,000 area on Tuesday shortly after the Wall Street open, tracking a broader risk-on shift driven by stronger-than-expected corporate earnings and a quick reversal in early oil strength. While the move lifted BTC toward key short-term technical levels, follow-through appeared limited as price later slipped back toward the low-$82,000s. Market-wide momentum was tied to results that beat expectations from several large firms, alongside easing sentiment in traditional markets after last week’s selloff. At the same time, crypto traders also reacted to positioning signals in derivatives, where liquidation activity and rising exchange open interest pointed to renewed—but still fragile—activity around the $83,000 mark. Key takeaways BTC rose as much as 1.5% early Tuesday, reaching its highest levels since Oct. 14 before moving back toward $82,000. US equities gained after Q3 earnings beats, which helped offset an earlier uptick in oil prices. Traders fo...
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Stablecoin Transfers Jump 4× to $891B as U.S. Banks Scale Use: Report

Stablecoins kept moving even as their headline market capitalization appeared to lag, according to two separate pieces of research pointing to both growing real-world usage and persistent adoption constraints inside traditional banking. A report commissioned by Coinbase and carried out by The Block Research found stablecoins processed adjusted transfer volume of more than $400 million per hour in the third quarter of 2026 . Quarterly activity totaled $891 billion , more than quadruple levels seen in early 2023 . Key takeaways Stablecoin transfer activity accelerated sharply since early 2023, reaching $891 billion in adjusted transfer volume in Q3 2026. 73% of screened stablecoin transfer volume occurred outside US banking hours, underscoring “always-on” settlement demand. Large banks are testing tokenized settlement: seven of the 10 largest US banks have trialed stablecoins or tokenized deposits. Commercial interest is spreading: 30% of mid-market firms using or piloting stab...
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Strive Raises $630M in SATS IPO, Bitcoin Allocation Not Disclosed

Strive, the Bitcoin treasury company led by CEO and chairman Matt Cole, has completed the upsized initial public offering of its SATS preferred shares. According to a company announcement released Oct. 20, the offering raised $630 million in gross proceeds after selling 7 million shares at $90 each. While the company did not disclose how much of the capital it plans to allocate to buying Bitcoin, its filings indicate the funds are intended to support a broad set of corporate needs—including potential spot Bitcoin acquisitions. For investors, the most immediate focus is how SATS dividends translate into cash returns, and what share capital could mean for Strive’s longer-term Bitcoin exposure. Key takeaways Strive closed an upsized SATS preferred stock IPO raising $630 million gross by selling 7 million shares at $90. The company has not specified the portion of proceeds earmarked for Bitcoin purchases, though its SEC filing lists Bitcoin acquisitions among intended uses. BitcoinTr...
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Injective and BDACS Move to Settle Tokenized Assets in KRW Stablecoin

Injective has signed a memorandum of understanding with BDACS, a South Korean digital asset custodian, to support a won-backed stablecoin for tokenized asset trading on its network. The initiative is designed to give institutions a Korean won settlement option, potentially reducing reliance on US dollar stablecoins for activities tied to real-world assets (RWAs). Under the arrangement announced Tuesday, BDACS’s KRW1 stablecoin would act as the exclusive won-denominated settlement asset for RWAs on Injective. That means approved market participants could trade and settle tokenized assets directly in Korean won, rather than routing transactions through dollar-pegged stablecoins. Key takeaways Injective will use BDACS’s won-backed KRW1 as the exclusive settlement asset for RWAs on its tokenized asset markets. BDACS says KRW1 is fully backed by Korean won reserves, with minting and redemption initially limited to approved institutional partners. The program is tied to South Korea’s b...
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Lloyds and Barclays Targeted in UK Crypto Transfer Complaints, Group Says

UK crypto access is again under scrutiny after a crypto advocacy group reported thousands of customer complaints about difficulties transferring money from major banks to cryptocurrency platforms. The allegations center on uneven or restrictive outbound transfer policies, ranging from hard limits per transaction to outright bans. According to a report reviewed by Cointelegraph , Stand With Crypto says 9,803 people submitted 10,092 complaints to UK banks over a 90-day period between May and August 2026. The group collected submissions through its online tool, targeting restrictions on transfers to crypto platforms as the UK prepares to move toward a new digital asset regulatory regime in 2027. Key takeaways Stand With Crypto reports 10,092 complaints to UK banks between May and August 2026 regarding crypto-related transfer restrictions. Lloyds Banking Group received the highest number of complaints (2,297), followed by Barclays (1,569) and NatWest Group (1,278). Some banks are rep...
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FINMA Greenlights Switzerland’s First Bitcoin ETF for Retail Investors

Switzerland’s financial watchdog, FINMA, has approved what it says is the country’s first Bitcoin exchange-traded fund (ETF) that holds Bitcoin directly and is available to retail investors. The decision marks a major step toward bringing direct BTC exposure into mainstream investment channels under Swiss oversight. In a Tuesday announcement, FINMA pointed to “growing interest” in cryptocurrency investments—especially Bitcoin. The regulator did not name the specific fund issuer in its approval notice, though it said multiple providers have submitted or publicly discussed Bitcoin ETF applications. Key takeaways FINMA approved Switzerland’s first retail-accessible Bitcoin ETF that invests directly in BTC, clearing a key regulatory hurdle. The regulator cited increased investor interest in cryptocurrencies, particularly Bitcoin. FINMA did not specify an issuer or a launch date in its approval. The approval follows FINMA’s earlier authorization of a crypto fund for qualified invest...
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