🪙 New Coalition Pushes for Real Ownership Rights in Tokenized Stocks
Bullish, Equiniti, Alpaca, Apex Fintech Solutions, and DriveWealth have formed the Issuer Sponsored Token Coalition to address a core flaw in tokenized equities: most onchain stock representations are not connected to official shareholder registers.
The coalition aims to link tokenized shares directly to company registries, ensuring holders retain voting rights, dividend entitlements, and full corporate-action participation — rights that current tokenized stock structures often fail to preserve as Wall Street accelerates its push to move public equities onto blockchains.
Bitfinex has confirmed the relaunch of USDt (Tether) on Bitcoin infrastructure, marking a return of the stablecoin to the Bitcoin network.
The move positions USDt within Bitcoin's growing tokenization layer, though specific technical details about the underlying infrastructure were not disclosed in the announcement.
The relaunch signals renewed interest in building stablecoin rails directly on Bitcoin, as the network increasingly attracts projects beyond simple value transfer.
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Bitget has confirmed a $351.6 million hack, making it one of the largest centralized exchange security incidents of 2026.
The breach was first flagged through unusual on-chain activity, with initial estimates of $150–170 million in outflows from Bitget-labeled wallets before the full scale became clear. Affected assets span XRP, Ethereum, stablecoins, and tokenized assets. The incident unfolded alongside Binance's separate $100 million investment in stablecoin issuer Circle.
Centralized exchanges remain a primary target for large-scale crypto theft, with this breach adding to a growing list of major security incidents in the industry.
KelpDAO has filed a lawsuit in British Columbia against LayerZero and its CEO Bryan Pellegrino, seeking accountability for an April exploit that drained approximately $292 million in rsETH from Kelp's cross-chain bridge — the largest hack of 2026 so far.
KelpDAO alleges LayerZero failed to disclose known weaknesses in its protocol and claims the company had endorsed Kelp's bridge setup prior to the attack. Pellegrino has publicly dismissed the lawsuit as meritless. The case escalates a dispute that had previously played out through public statements and technical reports before moving to formal litigation.
New York Attorney General Letitia James has sued Polymarket US, alleging the prediction market platform operated without a state gambling license and allowed users under 21 to place bets.
Filed September 24 in Manhattan, the lawsuit asks a court to ban Polymarket from New York, award three times its gains, and impose $100,000 in penalties for each sports contract it offered. The action follows a similar lawsuit against rival prediction market Kalshi in July. New York has now brought illegal gambling charges against four prediction market businesses in total.
The suit is backed by Governor Kathy Hochul and reflects a broader conflict between state regulators and federal oversight — Polymarket holds a CFTC designation as a designated contract market.
🔐 Coinbase Impersonator Sentenced for $15.9M Crypto Theft
Ronald Spektor, 23, has been sentenced to four to 12 years in prison in New York after pleading guilty to all 31 counts in a scheme that defrauded approximately 100 Coinbase users out of nearly $15.944 million.
Spektor impersonated Coinbase support staff, convincing victims that hackers were targeting their accounts and manipulating them into surrendering access to their crypto holdings. Prosecutors said the scheme affected roughly 100 users before Spektor was apprehended.
The case highlights the continued threat of social engineering attacks targeting crypto exchange customers, where fraudsters exploit brand trust to gain access to user funds.