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Crypto News
Bitwise and Hyperliquid Urge the SEC to Revise Crypto Regulations
Asset management firm Bitwise Asset Management and the Hyperliquid Policy Center submitted a comment letter to the U.S. Securities and Exchange Commission (SEC) on Monday, requesting amendments to proposed crypto rules to clarify token classification, airdrops, and secondary market trading rules. The SEC's proposed Regulation Crypto Assets would establish exemptions for qualified crypto financing and provide conditional safe harbors for tokens associated with investment contracts.
Strive Completed the Issuance of $630M in SATS Preferred Shares with a Fixed Annual Dividend Rate of 15%
Strive announced the completion of the initial public offering of its perpetual preferred shares in SATS, with 7 million shares issued at $90 per share, raising a total of $630 million. The company stated in its announcement that the stock is expected to begin trading on the Nasdaq Global Market around October 20, with the ticker symbol "SATS".
SATS accrues a fixed annual dividend of 15% based on a par value of $100 per share, with plans to start paying dividends on trading days starting November 9, subject to board approval. This preferred stock is not collateralized by the company's Bitcoin holdings.
The Crypto PAC Fairshake Holds over $95 Million in Funds, Preparing for the U.S. Midterm Elections
U.S. federal campaign finance filings show that the cryptocurrency industry's super political action committee (Super PAC), Fairshake, and its affiliated organizations still held over $95 million in funds as of the end of September, available to support candidates friendly to the cryptocurrency industry in the 2026 U.S. midterm elections. Major funders of the organization include Coinbase, Ripple, and venture capital firm Andreessen Horowitz (a16z).
The group comprises three political action committees: Fairshake, Defend American Jobs, and Protect Progress, supporting candidates from both the Republican and Democratic parties who are favorable toward cryptocurrency. The Republican-aligned group, Defend American Jobs, has already spent $45 million to support Republican Senator Jon Husted and oppose former Senator Sherrod Brown, who previously criticized the cryptocurrency industry. Additionally, the group has provided smaller-scale campaign support to 32 incumbent representatives supportive of cryptocurrency. It remains unclear whether Fairshake will exhaust its remaining funds during this midterm election cycle or retain some for the 2028 election cycle.
Six Blockchain Institutions Jointly Wrote a Letter to the U.S. SEC Demanding Clarification on the Definition of Digital Commodities
Stellar Development Foundation, Hedera, Aptos Labs, Ava Labs, Cardano Foundation and Chainlink Labs — six blockchain organizations — jointly submitted a comment letter to the U.S. Securities and Exchange Commission (SEC) requesting that the proposed "Regulation Crypto Assets" expressly define "Digital Commodity" and state its non‑security status in the text of the final rule.
According to reports, the SEC’s March 2026 regulatory interpretation already established the classification of digital commodities, but the related definition currently appears only in the preamble to the proposed rule and has not yet been incorporated into the binding text of the rule itself. The organizations believe that formally writing this into the rule would help reduce regulatory uncertainty and provide a more stable legal framework for public chain developers and ecosystem participants.
The Former Research Head at Coinbase Has Taken on the Role of Head of Ethereum Institutional in the United States
Ethereum Institutional announced the appointment of David Duong as Head of the United States, responsible for advancing cooperation with U.S. institutional investors and helping institutions further participate in the construction of the Ethereum ecosystem.
David Duong previously served as Head of Global Investment Research at Coinbase, responsible for crypto market research for exchange institutional clients, covering macroeconomic analysis, valuation models, and market structure, and he worked in sell-side macro strategy research at HSBC, Santander, and Deutsche Bank for 17 years.