State trust companies now qualify as custodians for crypto, easing institutional entry.
ETH posts a record 66.55% Q3 gain, powered by DeFi, stablecoins, and L2 adoption.
Japanese firm acquires $615 million in Bitcoin, becoming the 4th-largest corporate holder globally.
The cryptocurrency market continues to be shaped by significant regulatory changes, corporate actions, and network performance. From the US SEC offering long-awaited custody clarity to Ethereum posting record Q3 gains, here are the latest news items making the rounds in the digital asset world.
The Securities and Exchange Commission (SEC) recently issued a no-action letter stating that state-regulated trust companies can serve as “qualified custodians” for digital assets.
This decision means registered investment advisers can now custody cryptocurrencies such as Bitcoin and Ethereum with regulated state trust entities, provided they meet strict oversight, capital, and cybersecurity standards.
The action eliminates a few years of uncertainty regarding which institutions would be allowed to custody such assets for clients under US law.
Industry analysts hailed the step as a turning point. James Seyffart of Bloomberg Intelligence called it “a textbook example of more clarity,” noting it removes a major barrier for advisers and regulated funds.
Even though it is not a formal regulation, this position from the SEC provides advisers protection from immediate enforcement action and opens up new forms of institutional exposure to Bitcoin and Ethereum.
On Wednesday, the BNB Chain's official account on X, with almost four million followers, was hacked. Attackers posted phishing links disguised as Wallet Connect prompts, intending to get users to connect their wallets.
Binance founder Changpeng "CZ" Zhao quickly confirmed the hack and advised followers not to click on the malicious links.
Cybersecurity company SlowMist subsequently classified the phishing domains as being connected to the Inferno Drainer group, an infamous phishing-as-a-service operation that has been active since 2022.
The incident highlights ongoing issues around social media security in crypto. Despite rapid takedown efforts, experts say project teams must step up safeguards to prevent high-profile account takeovers.
Ethereum (ETH) had its best third quarter ever, rallying 66.55%, with a modest 5.7% monthly loss at the end of September. The quarter overall marked a strong rebound after two years of Q3 declines
ETH sustained over $4,000 several times before generally consolidating. The rally was driven by rising DeFi activity, increased stablecoin issuance, and L2 scaling, and gas costs were relatively low.
According to Token Terminal, Ethereum apps together held more than $88 billion in DeFi value locked, while the aggregated ecosystem funds exceeded $355 billion. Fees were generated by protocols like Uniswap, Aave, and Ethena, reaffirming Ethereum's dominance in DeFi.
While ETH dominance is at 12.5%, analysts are watching for a high close to $10,000 if the overall momentum persists.
Also Read: Is a Big Ethereum Price Rally Coming Due to $11 Billion in Shorts?
Tokyo-listed Metaplanet made waves by acquiring over 5,200 BTC, totaling $615 million, bringing its sum to over 30,800 BTC worth around $3.3 billion.
The purchase positions Metaplanet as the fourth-largest corporate holder of Bitcoin in the world, following Michael Saylor's MicroStrategy and a very limited number of US treasury holdings.
Executives have set out goals to acquire 1% of the global BTC supply by 2027 to establish the company as Asia’s leading Bitcoin treasury.
Metaplanet's Bitcoin revenue segment exceeded Q3 revenue by more than double the amount and expanded to $16.7 million, allowing the firm to increase full-year estimates. Leveraging a $1.4 billion fundraising initiative, the company is growing internationally with new subsidiaries in Japan and the US.
Also Read: Bitcoin Price Holds $114,000 as ETF Flows Shape October Outlook
Zhimin Qian (alias Yadi Zhang) pleaded guilty in a London court to laundering over 61,000 BTC tied to a huge Chinese pyramid scheme totaling around $6.7 billion.
The case represents one of the largest crypto scams in the world, and it highlights the use of Bitcoin as a means to transfer illicit funds across jurisdictions. UK prosecutors said Qian deployed fake identities, shell companies, and real estate deals to disguise the origins of the money. Sentencing is pending, with investigators pursuing additional suspects.
Bit Digital, a Nasdaq-listed company with treasury in Ethereum, announced it staked over 86% of its ETH reserves with staking provider Figment.
This action reflects a growing confidence in Ethereum's proof-of-stake network and is aligned with Bit Digital's treasury strategy, and it upsized its convertible bonds offering to $135 million from $100 million, which will close early October.
1. What did the SEC announce about crypto custody?
The SEC clarified that state-chartered trust companies can act as “qualified custodians” for digital assets, easing institutional barriers.
2. What happened to BNB Chain’s X account?
It was hacked to spread phishing links tied to the Inferno Drainer group, prompting CZ to warn users not to connect wallets.
3. How did Ethereum perform in Q3 2025?
ETH gained 66.55% in Q3, its best third-quarter in history, supported by DeFi activity, stablecoins, and L2 scaling.
4. Why is Metaplanet’s Bitcoin purchase significant?
The Tokyo-listed firm bought $615 million worth of BTC, making it the 4th-largest corporate holder and signaling Asia’s growing role in crypto treasuries.
5. What is the UK’s $7B Bitcoin laundering case?
Zhimin Qian, linked to a Chinese pyramid scheme, pleaded guilty to laundering over 61,000 BTC, one of the world’s largest crypto fraud cases.