Regulatory Front: SEC Proposes New Custody Rules for Crypto Assets
The U.S. Securities and Exchange Commission (SEC) has released a proposal outlining new custody requirements for digital assets, opening a 60-day public comment period. The move aims to establish a clearer regulatory framework for financial institutions holding cryptocurrencies. In related news, SEC Commissioner Atkins indicated that additional crypto-related proposals are in the pipeline, signaling more regulatory activity ahead.
Market Highlights: NEAR Recovers Funds, Avalanche Tokenized Stocks Soar
NEAR Protocol Fully Recovers Stolen Assets
Following an attack on the NEAR Intents protocol that resulted in a $3.8 million loss, the project has successfully recovered the entirety of the stolen funds through coordinated community and security efforts. The incident underscores the effectiveness of rapid response mechanisms in decentralized ecosystems.
Avalanche Leads in Tokenized Stock Growth
Tokenized stocks on the Avalanche network saw a remarkable increase of $245.5 million in market capitalization during September, outpacing other major blockchains. This growth highlights the accelerating trend of real-world asset (RWA) tokenization, with Avalanche emerging as a key player in this expanding sector.
Macro & Tech: Fed Hints at Pause, Nvidia Hits Record High
Federal Reserve official Goolsbee suggested that both a rate hike and a pause remain possible this month, with the decision heavily dependent on incoming economic data. In the tech sector, Nvidia's stock price surpassed its May peak, reaching a new all-time high and pushing its market capitalization back to $5.7 trillion, reflecting sustained strong demand for AI and high-performance computing.
Additional Developments
- New Mexico Rules Against Meta in Privacy Case: The state of New Mexico found Meta guilty of privacy misrepresentations related to the Cambridge Analytica scandal, with prosecutors seeking fines of up to $40 billion.