Crypto markets on Oct. 7 saw a mix of corporate treasury moves, project updates, regulatory signals and large on-chain transfers. Layer-2 network Abstract said it will gradually shut down, with the chain set to stop operating on Dec. 15, 2026. Robinhood added $25 million worth of Bitcoin to its balance sheet, its first disclosed allocation of BTC as a corporate investment asset. Hyperliquid, meanwhile, drew attention after Singapore’s central bank said the platform does not fall within its regulatory perimeter.
Regulation and macro
Michael Selig, chair of the U.S. Commodity Futures Trading Commission, said under the agency’s proposed rules, only federally regulated crypto exchanges would be allowed to offer leveraged trading. State-level licensing, he said, would be limited to money transmission-related business. He also said the 100x leverage often seen in offshore markets has never been permitted in the U.S. and would not be allowed under this framework either.
Crypto reporter Eleanor Terrett said the CFTC’s latest advance notice of proposed rulemaking seeks to use the agency’s existing authority to build a market structure framework for crypto spot trading. The framework would be based on existing DCM, DCO and FCM registrations, while adding a new category called “crypto asset market.”
According to Cointelegraph, Russia’s central bank has registered its first group of crypto trading operators and digital asset custodians under new crypto rules that took effect on Sept. 1. The list includes Sberbank, the country’s largest bank. In total, the first batch includes four trading operators and five custodians, with VTB appearing on both lists. The report said Sberbank plans to launch crypto products in December.
Project and platform developments
Abstract said in a post on X that it will wind down operations in stages. The chain will stop running on Dec. 15, 2026, and funds that have not been bridged out by then will become inaccessible. Users can move assets through the official migration center or the native bridge.
The Monetary Authority of Singapore said it does not view decentralized trading platform Hyperliquid as falling under its regulatory jurisdiction, and that it is not aware whether the platform is regulated in any major jurisdiction. Hyperliquid Labs confirmed that its registered headquarters is in Singapore, and recent job postings also indicate it has an office there.
According to Cointelegraph, tokenization platform Securitize has entered into a strategic partnership with South Korean technology company LG CNS. The two companies signed a memorandum of understanding to jointly develop tokenized assets and digital asset infrastructure for Korean financial institutions. They plan to focus on tokenized funds, stocks and stablecoins, while also exploring broader business opportunities across Asia-Pacific.
Polymarket CEO Shayne Coplan said at TOKEN2049 that Intercontinental Exchange, the parent company of the New York Stock Exchange, is one of Polymarket’s largest shareholders. He also said the company is working with regulators on research related to on-chain stocks.
According to The Block, Coinbase plans to relaunch the Coinbase Pro trading platform before the end of this year. The exchange has also completed the integration of Deribit, the crypto options exchange it acquired last year, creating Coinbase Global Exchange.
According to The Block, Robinhood added $25 million worth of Bitcoin to its balance sheet. Based on public disclosure standards, this is the company’s first allocation of BTC as a proprietary investment asset.
According to an official announcement, Binance Cross Margin, Portfolio Margin and Portfolio Margin Pro will add four bStocks tokenized securities as eligible collateral at 20:00 Beijing time on Oct. 7, 2026. The newly added assets are Securitize Corp (SECZB), StablecoinX Inc. (USDEB), JPMorgan Chase (JPMB) and Eli Lilly (LLYB).
Hyperliquid founder Jeff Yan said at TOKEN2049 that options will be the platform’s next key product focus. In the future, traders will be able to use options on the same order book to hedge spot and perpetual positions.
TOKEN2049 said it will launch TOKEN2049 New York, with the first New York edition scheduled for June 16-17, 2027. In addition to the two-day main conference, TOKEN2049 Week will include multiple events across New York City. Tickets are already on sale at $599.
According to South Korea’s Financial News, Dunamu, the parent company of Upbit, said the date for its comprehensive share swap plan with NAVER Financial has been postponed from Dec. 31 this year to March 31, 2027. The related extraordinary shareholders meeting has also been moved from Nov. 19 to Feb. 26 next year.
According to tradfi news, Winklevoss has filed an application with the U.S. Securities and Exchange Commission for a spot Zcash ETF. The proposed ETF would list on Nasdaq under the ticker WINK.
Fundraising and token deals
According to The Block, crypto token issuance and governance platform Umia raised $6.11 million through a seven-day UMIA token auction. It sold 34.6% of total supply, implying a fully diluted valuation of $18 million. About 45% of subscription funds came from institutional investors.
According to CoinDesk, Founders Fund, backed by Peter Thiel, led a $5 million purchase of ANVL, the governance token of DeFi collateral protocol Anvil. Pantera Capital, Theta Blockchain Ventures, Bullish and Protoscale Capital also participated. ANVL rose more than 97% over the past 24 hours.
According to SolanaFloor, Solana perpetual futures platform Imperial raised $1.5 million in a seed round at a $15 million valuation. Foundation Capital led the round, with support from angel investors in the Solana ecosystem.
Views and market analysis
Binance co-founder He Yi said during a Chinese-language AMA held as part of a Binance smart product launch that one of Binance’s major strategies is “All in AI,” with the goal of advancing financial and information equality. She said the crypto industry is not confronting traditional finance, but moving toward gradual integration.
CryptoQuant analyst Axel Adler Jr. said Bitcoin fell from $85,500 to $83,900 early on Oct. 7 before recovering slightly to $84,100. He said the decline came alongside aggressive selling and forced liquidation of long positions.
CryptoQuant analyst Darkfost said that after excluding Bitcoin that has not moved for more than 10 years, the share of BTC supply in profit has held around 60% since August. He said most BTC has returned to profit from a medium- to long-term perspective, and that the market remains far from overheated, making continued consolidation around current levels a reasonable outcome.
On-chain and market data
According to Ember monitoring, a U.S. government-linked address transferred 833.6 BTC worth about $71.56 million and 40,285 BNB worth about $31.63 million, for a combined value of roughly $103 million.
According to Onchain Lens, BitMine bought and received 12,500 ETH from BitGo, worth about $33.65 million. After the purchase, BitMine held 4.9% of ETH’s total supply of 122.1 million coins, close to its “5% alchemy” target.
According to Lookonchain, shortly before BTC fell below $84,000 this morning, four newly created wallets suspected of “insider trading” deposited about 1 million USDC into Hyperliquid and then opened 40x leveraged short positions on 148.49 BTC, representing a notional position of about $12.5 million.
Bloomberg reported that an office of a South Korean lawmaker, citing data from the country’s Financial Supervisory Service, said retail investors in South Korea are estimated to have lost about 2.3 trillion won, or about $1.7 billion, between May 27 and Aug. 14 through single-stock leveraged ETF and note products tied to Samsung Electronics and SK Hynix.
According to Ember monitoring, two wallet addresses, possibly belonging to the same whale or institution, withdrew a combined 110 million Lobster tokens from KuCoin and Gate, worth about $7.01 million. That amount represents 11% of the token’s total supply.
Data from CryptoRank showed that the total number of stablecoin holders worldwide has exceeded 300 million. In the third quarter, BNB Chain added nearly 13 million stablecoin holders, the biggest increase among major public blockchains.