Crypto Weekly Market Wrap October 6: Institutional Growth, Stablecoin Momentum, and Key Policy Shifts

The past week was characterized by a series of events that shifted the digital asset industry in new directions. This included institutional and stablecoin rollouts and regulatory changes, as well as security breaches. Key players like Vanguard, Coinbase, and Samsung took major strides as global regulators and kept defining the future of crypto finance. In the section below, we will discuss this weekly crypto market wrap in deeper detail.

USD1 Stablecoin Launches on Aptos with Full DeFi Integration

World Liberty Financial launched a stablecoin in USD1 that is backed by Trump associates on Aptos. The stablecoin was confirmed to launch on October 6 at Token2049 in Singapore. USD1 integrated to major DeFi platforms at launch, including Hyperion, Thala Labs, Echelon Market, Panora Exchange, and Tapp Exchange.

Aptos highlighted its speed, efficiency, and reliability as some of the reasons why USD1 was chosen. Wallets and exchanges like Backpack, Petra Wallet, OKX, Bitget, and Gate.io supported USD1 on day one. This provided both institutional and retail users instant trading access to the Aptos ecosystem.

Starknet Rolls Out Bitcoin Staking and Incentive Program

Starknet enabled the staking of Bitcoin via wrapped assets such as WBTC, tBTC, LBTC, and SolvBTC. This launch was a critical milestone for BTCFi, which utilizes zk-STARK cryptography for network security purposes. The system enabled staking while retaining ownership of their assets by users.

1/ Bitcoin doesn’t change. But what you can do with it just did.

From the June 2024 announcement that Starknet would scale Bitcoin, to the product rollouts of March 2025, the path has been clear.

BTCFi on Starknet is where that momentum now leads 🧵 pic.twitter.com/dznkDJYsK8

— Starknet (BTCFi arc) (@Starknet) September 30, 2025

In order to support the launch, the BTCFi Season was launched with a 100 million STRK reward program. It focused on facilitating Lending, Borrowing, and Liquidation on the Layer 2 network. 2 network. Starknet collaborated with Re7 Capital to produce an institutional yield fund for Bitcoin available through MidasRWA, a tokenized interface. 

SEC Reviews Stocks Based on Blockchain for Listing on Stock Exchange

The SEC is considering allowing blockchain-based stocks to be listed on approved cryptocurrency exchanges. Nasdaq, Robinhood, Coinbase, and Kraken are all interacting with regulators. These stocks would be lawfully owned and transferred using blockchain systems rather than traditional clearing houses.

SEC Chair Paul Atkins said that tokenized equities were a necessary innovation. Robinhood and Kraken already piloted synthetic stock tokens in other countries. Coinbase also drafted licensing documents to conduct as a broker of tokenized securities. Nasdaq’s proposed rule changes could speed industry adoption.

Stolen Crypto Worth $21M Tied to North Korean Hackers

SBI Crypto, a subsidiary company of the SBI Group of Japan, was hit with a $21 million exploit. Blockchain investigators, such as ZachXBT, traced the breach to North Korean hackers. The amount stolen comprised several assets such as BTC, ETH, LTC, DOGE, and BCH.

Hackers shifted the stolen funds through immediate exchanges and routed them into Tornado Cash. The privacy tool has been sanctioned by US regulators for assisting in illicit transactions. Similar characteristics were consistent with previous DPRK cyberattacks. SBI has not issued an official statement, but security experts raised red flags on mining pool vulnerabilities.

Sui Blockchain to Launch suiUSDe and USDi Stablecoins

Sui Group announced two stablecoins – suiUSDe and USDi. The stablecoins, which were made in partnership with Ethena Labs, bring income generation to a non-EVM chain for the first time. SuiUSDe will provide yield, while USDi will be backed 1:1 by BlackRock’s BUIDL fund.

Breaking🚨

suiUSDe is coming!!!

The @SuiNetwork DeFi is entering its most bullish phase yet. pic.twitter.com/8F90bOH4R6

— Adeniyi.sui (@EmanAbio) October 1, 2025

SuiUSDe’s design resembles Ethena’s USDe, but is a combination of derivatives and digital assets. Sui aims to enhance its DeFi infrastructure and transition away from USDC and USDT. Reserves will be utilized to purchase SUI tokens, thereby facilitating long-term ecosystem development.

CME to Introduce 24/7 Crypto Futures Trading in 2026

CME Group announced plans to bring 24/7 crypto futures and options trading in early 2026. The change comes in response to growing institutional demand and to eliminate weekend trading gaps. All trades will take place on the CME Globex platform with just a brief window for maintenance on the weekend.

Trades made on Friday to Saturday evening will have the Monday settlement date. Clearing and reporting will also follow that schedule. CME stressed its commitment to compliance, transparency, and secure operations during the rollout of the new trading model.

Hong Kong Stablecoin Licensing to Begin in Early 2026

Hong Kong confirmed that it will issue its first batch of stablecoin licenses in early 2026. The local government’s priority was to launch an HKD-backed stablecoin. However, it also stated that it is open to RMB-pegged stablecoins with further review. The regulatory approach in Hong Kong strikes a balance between innovation, economic integration, and risk control. Legal support for different fiat currencies exists; however, political factors affect the involvement of the RMB. The licensing rollout aligns with Hong Kong’s status as a cryptocurrency hub in Asia.

Samsung and Coinbase Partner for Crypto Access in Galaxy Wallet

Samsung teamed up with Coinbase to provide access to cryptocurrency for 75 million users in the U.S. Galaxy users can buy, hold, and trade cryptocurrencies directly within Samsung Pay. Coinbase confirmed that its U.S. users will get special access to its Coinbase One subscription.

JUST IN: 🇺🇸🇨🇦 Coinbase adds Samsung Pay for crypto purchases in the U.S. and Canada. pic.twitter.com/InOmjnOOUd

— Whale Insider (@WhaleInsider) July 29, 2025

The idea behind the plan is to make crypto trading easier by implementing it into people’s daily payments. Coinbase said the partnership reflects its effort to integrate traditional mobile finance with blockchain technology. Samsung plans to scale this integration globally as more and more people adopt it.

Kazakhstan’s First Crypto Fund Buys BNB as Reserve Asset

Kazakhstan launched its first government-backed crypto fund named Alem Crypto Fund. The Ministry of Digital Development manages the fund through Qazaqstan Venture Group. The first asset bought was BNB, Binance’s native token, which was added to the national crypto reserve.

President Tokayev met again with Binance founder CZ on October 2. CZ highlighted the increasing cryptocurrency efforts of Kazakhstan, including the local licensing of Binance. Kazakhstan plans to transform Alem Crypto Fund into a long-term sovereign digital reserve instrument.

Thailand to Expand Crypto ETFs Beyond Bitcoin

Thailand’s SEC confirmed plans to allow crypto ETFs other than Bitcoin starting in 2026. The country will help the local institutions to provide novel ETFs for additional digital tokens. The launch of a new category of financial products in the region follows the launch of Bitcoin ETFs earlier. Regulators are making the rules on the new offerings. The end result is to make crypto investment more accessible and deal with the risks. The move can diversify Thailand’s financial products and attract more investors to the digital asset market.

Ripple CTO David Schwartz Announces Retirement Plans

Ripple CTO David Schwartz said he will retire from day-to-day operations at the end of the year. He will remain with the company as CTO Emeritus and sit on Ripple’s board. Schwartz was instrumental in the development of the XRP Ledger and the technical direction of Ripple.

As happens in one’s life, I’ve been taking stock of my last 40 years. It’s been a wild ride. I’ve gone from consulting for the NSA to watching the early stages of Bitcoin. Then, I met Arthur, Jed, and Chris and worked on coding the XRP Ledger. Now, I’ve spent more than 13 years…

— David 'JoelKatz' Schwartz (@JoelKatz) September 30, 2025

Brad Garlinghouse, CEO of Coinbase, described him as a foundational figure in the crypto industry. Schwartz gave some personal reasons for stepping down, such as spending more time with family and pursuing other interests.

SEC Grants Rare No-Action Letter to 2Z Token

The SEC sent DoubleZero a rare No-Action Letter for its 2Z token, ruling that it is not a security. The token is part of a DePIN project, and users receive tokens for performing services such as storage or bandwidth. Commissioner Hester Peirce backed the SEC’s decision. The ruling provides the first regulatory clarity for DePIN projects in the U.S. DoubleZero spent months attempting to secure SEC approval. The decision could pave the way for more service-based crypto tokens under a similar model.

BNB Chain Recovers After Social Media Account Hack

BNB Chain’s X (formerly Twitter) account was hacked, which resulted in phishing attacks. Scammers posted malicious links that promoted wallet connections. Binance co-founder CZ warned of the trap while the hack was ongoing. The attacker used a fake contract and converted $17,800 to $22,000. One user lost $6,500, which amounted to most of the total $8,000 loss. BNB Chain later regained control and confirmed full reimbursements of victims.

REX and Osprey File for 21 Altcoin ETFs

REX Shares and Osprey Funds filed 21 filings for spot altcoin ETFs. Assets include SUI, ADA, CRO, NEAR, and TRX. Staking capabilities are used in many applications, with an increasing interest from institutions, beyond BTC/ETH.

REX Shares and Osprey Funds filed 21 crypto ETFs with the SEC, including a spot HBAR product that could accelerate Hedera's institutional adoption.
Hedera's network handles over 10,000 transactions per second at under $0.0001 fees, backed by a council of 39 enterprises like… pic.twitter.com/VaRDIXXYM0

— Bitluma🪙 (@Bitluma) October 6, 2025

Defiance also submitted almost 50 leveraged crypto ETF proposals. However, the current shutdown in the US government has set back timelines for SEC reviews. Market participants are also optimistic that approval will resume after operations are normalized.

White House Withdraws Brian Quintenz CFTC Nomination

The White House withdrew Brian Quintenz’s nomination to head the CFTC following a public dispute. Quintenz, a former commissioner and a16z policy head, blamed Gemini founders for the failed confirmation. He shared messages that Trump was misguided in his role.

The administration is now going through new candidates. Potential names include Josh Sterling, Michael Selig, and Tyler Williams. The CFTC chair position stands out as an important position as crypto oversight efforts heat up across U.S. agencies.

Chinese Woman Pleads Guilty in UK’s Largest Crypto Scam

Qian Zhimin pled guilty in the UK for laundering more than $6 billion in stolen crypto. She scammed 128,000 victims in China between 2014 and 2017. Zhimin turned the money into Bitcoin and purchased real estate in the UK to launder assets. UK police have conducted a seven-year investigation together with international partners. Zhimin’s partner, Wen Jian, was sentenced to more than 6 years in prison last year. Law enforcement agencies are still pursuing cross-border recovery of stolen money.

Coinbase Applies for National Charter to Strengthen Stablecoin Operations

Coinbase applied for a National Trust Company Charter from the US Office of the Comptroller of the Currency (OCC). The exchange clarified that the charter will not turn it into a bank. Instead, it will give Coinbase more control over custody, stablecoin reserves, and digital asset payment infrastructure.

It's time. Today @coinbase filed for a national trust company charter from the @USOCC. 1/3 https://t.co/A5Hy2OUmea

— paulgrewal.eth (@iampaulgrewal) October 3, 2025

The change comes along with increased adoption of USDC and a changing federal oversight. Under new guidelines, the OCC will supervise the operations of stablecoins. Coinbase aims to be the centrepiece of the bridge between traditional finance and blockchain infrastructure, ensuring compliance and scalability.

Walmart’s OnePay to Enable Crypto Spending Across Retail

Walmart’s financial app, OnePay, will incorporate cryptocurrency services, allowing users to hold and use Bitcoin and Ethereum within the app. Users can turn their digital assets into cash to shop at Walmart or pay their bills right away. The integration positions crypto as an integral part of everyday finance. OnePay will collaborate with crypto settlement firm Zerohash on custody and trading. The app already offers high-yield savings accounts, loans, and wireless plans. With the addition of crypto features, OnePay is able to increase its financial product portfolio into the digital economy.

Digital Asset Investment Products Market Overview

Digital asset funds attracted $5.95 billion last week, marking a new record weekly inflow, according to the CoinShares report. This followed poor US employment figures and fears of a renewed government shutdown. Investors reacted very strongly to economic signals and a recent interest rate cut by the FOMC.

The largest weekly ETPs inflows on record: $5.95B@Bitcoin saw its largest weekly inflows on record totalling US$3.55B, with @solana also breaking its record, at US$706.5M. @ethereum saw inflows totalling US$1.48B whilst XRP (@Ripple) also saw substantive inflows of US$219.4M.… pic.twitter.com/w3ccONHEzk

— CoinShares (@CoinSharesCo) October 6, 2025

Bitcoin topped that with $3.55B in inflows, while Ethereum added $1.48B, bringing its YTD total to $13.7B. Solana attracted $706.5 million, and XRP drew $ 219.4 million. Other altcoins saw little activity during the same period.

Regionally, the U.S. attracted $5.0 billion, which was its highest-ever weekly inflow. Switzerland came in behind with $563M, and Germany raised $312M. Altogether, soaring prices see total digital asset assets under management hit a record $254B by week’s end.

Bitcoin Price Performance

The flagship asset reached a new all-time high last week, with the price hitting $125,559. The rally saw Bitcoin’s market cap and trading volume surge to $2.48 billion and $55 billion. Moreover, BTC elevated the weekly and monthly gains to 10% and 13%, respectively.

Technical indicators on the weekly chart indicate that BTC is trading on an ascending channel. The price is trading alongside the upper Bollinger Band, which previously acted as a resistance zone. Support for BTC has been noted around the $113,335 region. Furthermore, the RSI is slightly below the overbought region.