Author: John Smith

The Drift Foundation has opened DFX recovery claims and redemptions for victims of its April 1 exploit, with roughly 3.11 million USDT available and initial payouts near 1% of verified losses. Summary Eligible wallets receive one DFX token for each USDT of verified losses from the exploit. Initial redemptions pay about 0.0104 USDT per DFX, with redeemed tokens permanently burned. Recovery funding includes Velocity revenue, Tether support, partner capital, and any recovered stolen assets. The claim window closes on Jan. 1, 2028, when unclaimed DFX tokens will be burned. The Drift Foundation announced on Oct. 1 that affected users can…

Federal Reserve Vice Chair Philip Jefferson has signaled that officials may need more time before changing rates again, as Polymarket odds cited in the latest report have fallen to 23% for an October hike from about 70% last week. Summary Polymarket odds cited in the report put an October rate hold at 77%. Jefferson supported September’s increase but said officials may need more time before another decision. Goldman Sachs moved its forecast for the next Fed rate hike to December. Kashkari remains undecided on October while expecting further increases to bring inflation under control. The Federal Reserve published Jefferson’s Oct.…

African businesses have increasingly turned to stablecoins over the past five years to address cross-border payment delays, dollar access, and settlement costs, according to Kora CEO Dickson Nsofor. Summary Supplier payments and cross-border payouts are driving stablecoin demand, according to Kora’s CEO. Nsofor recalled waiting 10 to 14 days to pay a Chinese manufacturer through banks. Local currency conversion, banking connections and compliance remain necessary for stablecoin payments, he said. Reliance on foreign dollar-backed token issuers creates reserve, redemption and access risks, Nsofor warned. Dickson Nsofor, CEO of pan-African payment infrastructure platform Kora, told crypto.news that businesses increasingly see stablecoins…

Circle has urged EU policymakers to revise MiCA’s stablecoin issuance and reserve rules after its EU policy director said only three of the world’s 30 largest stablecoins comply with the framework. Summary Only USDC, USDG and EURC meet MiCA rules among the top 30 stablecoins, Hansen said. Circle wants EU regulators to preserve issuance arrangements involving European and overseas affiliates. The issuer supports replacing mandatory bank deposit thresholds with rules based on reserve liquidity. Circle’s proposal draws on the U.S. GENIUS Act’s framework for recognizing foreign stablecoin issuers. Circle, in its Oct. 1 policy submission, called for changes covering cross-border…

NEAR Intents has resumed service after a $3.8 million exploit affecting USDT on BSC, with co-founder Illia Polosukhin promising full compensation for affected users. Summary The attacker exploited Omni’s deposit and withdrawal interaction with the NEAR Intents smart contract. Polosukhin said the team fixed the vulnerability within an hour of detection. NEAR Intents and near.com returned online, although some affected chains remained restricted. The core NEAR Protocol, NEAR token, and other applications were unaffected, according to Polosukhin. NEAR co-founder Illia Polosukhin said on Oct. 1 that the team had restored NEAR Intents and near.com after temporarily pausing the service when…

Bitcoin has surrendered a post-inflation rally above $85,500 to trade around $83,500, according to ViaBTC’s Jeff Ko, as analysts have identified $82,000 as the key support level entering October. Summary Ko says Bitcoin reversed its entire gain after jumping more than 2% following the PCE release. Zhang places Bitcoin’s October range at $78,000–$95,000, with $87,500 as the main breakout level. Institutional buying must outpace long-term holder and miner selling to sustain gains, according to Zhang. Both analysts identify U.S. employment and inflation reports as major tests for Bitcoin this month. Jeff Ko, chief analyst at ViaBTC, and Lacie Zhang, research…

Ghana has become sub-Saharan Africa’s fifth-largest crypto market, with annual digital-asset transactions estimated at roughly $21 billion as regulators prepare to bring a fast-growing stablecoin and trading market under formal supervision. Summary Ghana ranks fifth among sub-Saharan Africa’s crypto markets, with annual transactions estimated near $21 billion. Between 8% and 17% of Ghanaians have bought or sold crypto assets, IMF data suggests. Stablecoins are growing fastest in trading, inflation hedging and informal cross-border settlement, according to IMF. Ghana’s 2025 virtual asset law gives the Bank of Ghana and SEC joint oversight powers. Twenty firms now operate inside Ghana’s SEC sandbox…

PERPTools has raised $8 million across two token funding rounds after its perpetual trading platform recorded $240 million in volume during private beta testing. Summary PERPTools raised $8 million across two rounds backed by DEXTools Ventures, Orderly Network, NEAR, Animoca Brands and other investors. The platform has recorded $240 million in private beta trading volume and already operates a perpetual DEX, AI trading marketplace and prediction product. PERPTools plans a token generation event in Q4 2026 as it expands trading execution within the DEXTools ecosystem. According to an announcement shared with crypto.news, the team behind DEXTools raised $3 million in…

Stacks price has jumped more than 20% in 24 hours to around $0.38 after founder Muneeb Ali was named Stacks Labs CEO, while the network prepares to expand its institutional Bitcoin staking program this month. Summary Stacks jumped more than 20% after Muneeb Ali announced his return as Stacks Labs CEO. Genesis Bond participants bonded 230 BTC alongside 310,000 STX and earned 0.28 BTC in weekly rewards. Bonding Period 2 opens October 10 with 500 BTC capacity, more than doubling Genesis participation. Anchorage Digital is building custody support for institutions seeking self-custodial Bitcoin staking through Stacks network. STX faces resistance…

India has remained Central and Southeast Asia and Oceania’s largest market for centralized crypto exchange inflows, receiving $88.4 billion through CEXs even as its overall crypto economy contracted 14.7% during the latest reporting period. Summary India led CSAO in centralized crypto exchange inflows with $88.4 billion, ahead of Singapore at $82.3 billion and Australia at $79.3 billion. India’s overall crypto economy contracted 14.7% to $135 billion, but centralized exchange activity remained strong during the reporting period. Domestic exchanges captured just 0.7% of Indian exchange volume, compared with an average of around 7% across the rest of CSAO. Chainalysis said investment…