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Bitget’s $388M Breach
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Today’s Daily Crypto Roundup starts with the extraordinary new findings surrounding Bitget’s massive September breach. Investigators now say attackers may have been inside exchange-linked security infrastructure for 25 days before hundreds of millions of dollars began moving — raising serious questions about whether cold wallets and proof of reserves alone are enough to protect an exchange.
We then turn to the UK, where the FCA has officially opened the gateway for firms to apply under Britain’s new full crypto regulatory regime. We explain what changes now, the February 2027 application deadline, and why some exchanges could ultimately be forced to leave the UK market.
HSBC has also revealed the name of its forthcoming Hong Kong dollar stablecoin — RedCoin — as major banks continue moving deeper into tokenised money. Meanwhile, Open USD has launched with Coinbase, Mastercard, Shopify, Stripe and Visa among its founding partners and more than $1 billion committed to building liquidity.
Bitcoin itself gave traders a brutal lesson today. Softer US inflation initially sent BTC above $85,500 , only for the rally to disappear within hours as economic data pushed Treasury yields back higher.
And today gets stranger: a Bitcoin wallet dormant since 2011 suddenly moved coins worth around $1.7 million after more than 15 years of silence. We also examine Petrobras testing Cardano for lower-carbon fuel tracking, Bloomberg launching institutional stablecoin analytics, and the controversy surrounding Kalshi’s enormous reported ETH perpetual-futures volumes.
From exchange hacks to bank-issued stablecoins and forgotten Bitcoin fortunes suddenly waking up, today’s show is ultimately about one thing: what crypto infrastructure can actually be trusted?
These notes are supplied by Crypto News Today and are not a transcript. No separate source links were supplied with this edition.