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U.S. Treasury Secretary Scott Bessent dismissed concerns over the 10-year Treasury yield rising to its highest level since 2023, saying the Treasury market remains in very good shape, Walter Bloomberg reported on X. Bessent also said the Treasury’s Sept. 10 buyback totaled $5.19 billion, below the $6 billion maximum, because holders of long-dated Treasuries were reluctant to sell. The Treasury had earlier raised the cap for long-term bond buybacks from $2 billion per operation to at least $4 billion, while the market had expected the first purchase to total $5 billion to $6 billion.

A CoinNess analysis of CryptoRank data shows the so-called MAG7 accounted for 92.1% of the market capitalization of the top 100 cryptocurrencies excluding stablecoins this year, returning to 2021 levels. The share stood at 91% in 2021. BTC’s share also rose to 66.6%, up 9.9 percentage points from 56.7% in 2021. On X, CryptoRank said market growth is becoming increasingly dependent on a small group of major assets, while the share of capital flowing into the rest of the altcoin market is shrinking.

Ethereum developers have tentatively agreed to deploy the next upgrade, Glamsterdam, on the Sepolia public testnet at 1:53 p.m. UTC on Oct. 6, former Galaxy Digital analyst and current Ready for Merge host Christine Kim said on X. The schedule remains conditional, however, as Devnet-9, a recent developer testnet, has failed to finalize blocks properly. Developers plan to launch an additional Devnet-10 after fixing the bug, and the Sepolia timeline could be delayed if major issues emerge there as well. The timing for Hoodie and mainnet deployment has not yet been set.

U.S. banking groups sent a joint letter to Senate leadership on Sept. 10 urging tighter rules on stablecoin interest, yield and rewards under Section 10404 of the CLARITY Act. According to a letter released by the American Bankers Association, the groups said the current language leaves room for indirect compensation tied to holding stablecoins and proposed extending the ban beyond methods “economically or functionally equivalent” to bank deposit interest to also cover those that are “substantially similar.” The groups also called for deleting a provision that would allow rewards based on stablecoin balances or holding periods. The banking industry argued such incentives could turn stablecoins into a deposit substitute rather than a means of payment, potentially draining deposits from community financial institutions and constraining lending to small businesses, agriculture and housing.

Strive (ASST), a company pursuing a Bitcoin accumulation strategy, will fund the OpenSats Red Team Fund, CEO Matt Cole said on X. The Red Team Fund supports research aimed at identifying vulnerabilities in Bitcoin core software. Cole said, "AI 기술 발전으로 BTC 소프트웨어의 취약점을 찾아 악용하기가 쉬워지고 있다. 방어 기술 연구자들도 최고 수준의 AI 모델과 대규모 연산 자원을 활용해 공격자보다 먼저 취약점을 찾아 해결할 수 있어야 한다" and added, "BTC 네트워크 보안을 지원하는 것은 자선 활동이 아니라 회사의 핵심 자산을 보호하기 위한 장기적 관리이자 수탁자로서의 책임".

Nubank, the largest digital bank in Latin America that supports cryptocurrency trading, said it is entering the U.S. market and launching Nu Global, a multicurrency account service based on the dollar stablecoin USDC and euro stablecoin EURC. Funds deposited into Nu Global will be converted into USDC or EURC and will earn daily interest at annual rates of 3.5% and 2.2%, respectively. Users will be able to send money fee-free to more than 35 countries and hold and trade select cryptocurrencies including Bitcoin (BTC) and Ethereum (ETH). Nubank also plans to support links with accounts in Brazil, Colombia, Mexico and the U.S. in the future.

South Korea’s Financial Services Commission and the Korea Securities Depository recently released guidelines on standard distributed ledger requirements for tokenized securities, adopting a closed structure under which the same STO product must be issued and managed on a single distributed ledger and cannot be transferred to another ledger, according to Daehan Economic Daily. The move is aimed at risk management and investor protection in the early stage of implementing the system. At the same time, the outlet said concerns are emerging that a closed structure could limit trading to the domestic market, narrow the range of markets and services available to investors, and leave South Korea sidelined in attracting global capital. It added that if the market cannot connect with global real-world asset, or RWA, and stablecoin ecosystems, the long-term competitiveness of the domestic market and industry could weaken.

FTX founder Sam Bankman-Fried, or SBF, has asked the U.S. Supreme Court to review his 25-year fraud conviction in a bid to overturn the ruling, Bloomberg Law reported. The filing is seen as one of SBF’s last remaining legal avenues for release after a lower federal court rejected his appeal of the conviction in June.

The three major U.S. stock indices closed lower today. - S&P 500: -0.58% - Nasdaq: -0.65% - Dow Jones: -0.60%

Bitwise will shut down its BWOW Dogecoin ETF, according to The Block. Trading in BWOW will end on Oct. 14, and investors will receive cash equal to the value of their holdings the following week.

Nubank, the largest digital bank in South America and a supporter of cryptocurrency trading, has started U.S. banking operations through a partnership with Lead Bank, Crypto Briefing reported. Nubank had previously received conditional approval from the Office of the Comptroller of the Currency in January to establish a U.S. branch. Rather than waiting for its own charter, the company is seen as shortening what could have been a yearslong regulatory wait by using an existing bank’s infrastructure. Nubank plans to offer U.S. consumers high-yield deposits, fee-free transfers and cryptocurrency trading services. The partnership with Lead Bank is temporary, and Nubank is expected to operate under its own charter in 2027. Until then, the arrangement with Lead Bank will include shared compliance obligations and a revenue-sharing structure.

U.S. Senate Republicans have unveiled a revised CLARITY Act reflecting changes discussed during the August recess, Crypto In America host Eleanor Terrett said. Based on details identified so far, the ethics provisions appear unchanged, while the Blockchain Regulatory Certainty Act, or BRCA, incorporated into the CLARITY Act, and provisions related to stablecoin yield also remain intact. The main revisions are as follows: - requiring non-decentralized DeFi protocols to register with the U.S. Commodity Futures Trading Commission, or CFTC - limiting DeFi-related rules to spot- or cash-based digital commodity trading - clarifying the authority of credit unions to handle cryptocurrencies

Crypto exchange OKX has launched pre-IPO perpetual futures tied to OpenAI and Anthropic in Europe, CoinDesk reported. Eligible traders can use up to 10x leverage to take long or short positions on changes in the companies’ valuations without holding shares in either company.

TradeXYZ, a perpetual futures trading platform on Hyperliquid (HYPE), has launched an event contract service. The event markets span sports, politics, the economy, and financial markets, and the scope of categories and contract types will continue to expand. TradeXYZ said its initial up-or-down markets, similar to binary event contracts, include stocks, commodities, and pre-IPO shares. Each contract is based on XYZ’s live market pricing rather than external oracles, according to the platform.

Coinbase has changed the brand name of its self-custody app Base back to Coinbase Wallet. Ryan Kass, head of product for Coinbase Wallet, told The Block the company concluded it made sense to reuse the Coinbase Wallet name while keeping the strengths of the Base app as the app evolves into a broader multichain trading platform. Kass added Coinbase takes pride in moving quickly and pivoting when needed, and said that if the Base app was an experimental effort, Coinbase Wallet gives users access to all onchain finance. In July last year, Coinbase rebranded Coinbase Wallet as Base and said the Base app would support not only wallet functions but also social networking, mini apps and trading. Earlier this year, Coinbase CEO Brian Armstrong said the Base app’s social networking experiment was unsuccessful and that the app’s direction would shift toward trading.

Grayscale said the U.S. Senate will hold a vote on Sept. 15 to move the Clarity Act to the full chamber, and it expects substantive discussions on cryptocurrency regulation to advance regardless of the outcome. The firm added that U.S. policymakers are already working with platforms including Kalshi, Coinbase and potentially Hyperliquid to build clearer regulatory frameworks for stablecoins, token issuance, security tokens and perpetual futures.

U.S. SEC Chairman Paul Atkins is scheduled to deliver the closing keynote at the Solana Summit on Sept. 14, according to Crypto Briefing. The speech is set for 5:10 p.m. ET. SEC Commissioner Hester Peirce, known in the crypto industry as "Crypto Mom," is also scheduled to appear in a discussion format at 5:00 p.m. ET, shortly before Atkins’ speech. Rep. Tom Emmer and Sen. Cynthia Lummis have also been confirmed as speakers.

Major prediction markets including Polymarket and Kalshi generally lack the approvals needed to offer services to EU users, the European Securities and Markets Authority warned in a report released today, CoinDesk reported. ESMA said marketing and selling event contracts in the EU generally requires EU authorization, but the largest prediction market platforms do not currently hold those approvals. While Polymarket and Kalshi restrict trading in some EU countries, other member states are excluded from those restrictions, ESMA said, adding it was unclear why the services were not restricted across all EU member states. That creates risks tied to unauthorized service provision and potential breaches of existing rules limiting such trading for retail investors, according to the report. ESMA also questioned whether the two platforms can effectively block users who hide their real location through a virtual private network, or VPN. It added event contracts could fall under the EU’s existing binary options ban, MiCA and other crypto regulatory rules, or national gambling laws.

White House Crypto Council Executive Director Patrick Witt urged Congress to pass the Clarity Act quickly, saying there is little time left for lawmakers to act, Cointelegraph reported.

Liquid Network, a Bitcoin Layer 2 sidechain developed by Blockstream, has resumed block production after applying an emergency patch following a $320 million exploit, or about 4,000 BTC, Cointelegraph reported.

India’s Financial Intelligence Unit, or FIU-IND, has sent written warnings to 15 overseas virtual digital asset service providers accused of violating the country’s anti-money laundering law and operating without local registration, while ordering app store removals and website URL blocks, CryptoSlate reported. The affected firms include not only exchanges but also a large number of swap platforms and fiat-to-crypto on-ramp services. Even if an operator is incorporated overseas or has no office in India, it must register with FIU-IND as a reporting entity if it provides Indian residents with crypto-to-fiat exchange, crypto-to-crypto swap, custody, or transfer services.

Pro-crypto Republican U.S. Sen. Cynthia Lummis said the Clarity Act now reflects all Democratic demands and Democrats should vote for the bill they helped shape, according to The Bitcoin Historian.

BTC staking has gone live on Stacks, The Block reported. BTC holders can earn yield in BTC while keeping their holdings on the Bitcoin base layer by using STX to secure staking rights.

Bithumb announced a temporary suspension of DOT deposits and withdrawals for wallet system maintenance involving Polkadot (DOT).

Circle will discontinue USDC support on Noble, a blockchain in the Cosmos ecosystem, while also phasing out the legacy Cross-Chain Transfer Protocol V1, Crypto Briefing reported. Aptos and Sui, which had also been using CCTP V1 on a standalone basis, were likewise excluded from support for the upgraded CCTP V2, according to the report.