ETH falls below the $4000 mark

[M2 Capital Invests $20 Million in Ethena Governance Token ENA] UAE investment firm M2 Capital has announced a $20 million investment in Ethena's governance token ENA. Reportedly, the total value locked (TVL) of Ethena platform's USDe and sUSDe products has exceeded $14 billion. Additionally, M2 Capital's wealth management division, M2 Global Wealth, plans to integrate Ethena into its service system to provide clients with compliant digital asset yield solutions.

[Nine European Banks to Launch Compliant Euro Stablecoin] On September 25, nine major European banks announced a collaboration to launch a euro stablecoin governed by the EU's Markets in Crypto-Assets Regulation (MiCA). Participating banks include ING Group from the Netherlands, UniCredit from Italy, and KBC from Belgium, among others. The stablecoin aims to provide a European alternative to the U.S.-dominated stablecoin market, supporting low-cost, instant cross-border payments and optimized digital asset settlement. The first issuance is expected in the second half of 2026.

[Ohio Approves Use of Cryptocurrency for Government Payments] The Ohio State Depository Board has unanimously passed a proposal allowing cryptocurrencies, including Bitcoin, to be used for paying state government fees and services. Secretary of State Frank LaRose stated that relevant departments handle hundreds of thousands of transactions annually and have recently received increasing demand for cryptocurrency payment options. This initiative marks the latest development in Ohio's push for legislation related to digital assets, covering measures such as the Blockchain Protection Act and Bitcoin Reserve proposals.

[Caixin Suspected of Removing Report on Hong Kong-Related Crypto Asset Business] According to Jinse Finance, Caixin's website has seemingly removed the article titled 'The Whistle Blows: Multiple Institutions Required to Scale Back Crypto Asset Business in Hong Kong.' The page now displays 'The page you are trying to view does not exist or has been deleted.' The earlier report mentioned that internet platforms, Chinese-funded brokerages, Chinese-funded banks, and other institutions in Hong Kong were instructed to temporarily halt activities related to crypto assets, with a particular focus on brokerages holding virtual asset trading service qualifications.

[North Korean IT Remote Workers Accused of Involvement in 25 Crypto Industry Hacking and Ransom Incidents] Replit CEO pointed out that North Korean IT remote workers (ITWs) are using AI tools to secure remote positions in the U.S., generating hundreds of millions of dollars in revenue for North Korea. On-chain analyst ZachXBT subsequently stated that these remote workers were involved in at least 25 hacking or ransom incidents targeting companies in the crypto industry, with all victimized companies being in the cryptocurrency sector. This phenomenon has raised concerns about North Korea obtaining foreign exchange through cybercrime.