Today’s highlights · 2026-10-28 · UTC
Treasury backs dollar stablecoins as Bitcoin reclaims $81K and ETFs refill
U.S. Treasury Secretary Scott Bessent told Ripple Swell that dollar stablecoins can reinforce dollar primacy. Bitcoin retook about $81,000 while spot Bitcoin ETFs took in roughly $176 million. Keystone and Predict.fun disclosed security incidents, and Ripple plus Ondo pushed on-chain payments and tokenized stocks.
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Bessent: dollar stablecoins can strengthen the U.S. dollar
Speaking October 27 at Ripple Swell in New York alongside Ripple CEO Brad Garlinghouse, Treasury Secretary Scott Bessent said more than 90 percent of stablecoins are dollar-backed and often hold Treasuries, which can expand dollar use in emerging markets and support Treasury demand as rules including the GENIUS Act advance.
Why it matters
Framing crypto as dollar policy may lift expectations for compliant stablecoins and custody, though legislative and agency timing remain uncertain.
Itaú becomes first Brazilian bank to register crypto services
Multiple reports say Brazil’s largest private bank, Itaú Unibanco, notified the central bank on October 27 of its crypto trading and custody operations under new digital-asset rules, becoming the first commercial bank to formalize the status and offering about 15 assets including Bitcoin and Ethereum ahead of an October 30 deadline.
Why it matters
Regulated bank rails may crowd out unlicensed venues and clarify institutional access in Latin America, subject to how local rules are enforced.
Bitcoin reclaims the $81,000 level
On October 27 Bitcoin moved back above about $81,000, as WatcherGuru and others reported, after a weekend slide below $80,000 that triggered large leveraged liquidations while traders watched the Federal Reserve’s October 28 decision.
Why it matters
Near-term sentiment improved, but Fed guidance and macro swings can reverse the bounce; the $80,000 zone remains a key test.
U.S. spot Bitcoin ETFs draw about $176 million in one day
SoSoValue and market trackers reported about $176 million of net inflows into U.S. spot Bitcoin ETFs on October 27, led by BlackRock’s IBIT near $151 million and Fidelity’s FBTC near $24.5 million, while Ethereum spot ETFs saw about $60.22 million of net outflows.
Why it matters
Flows keep favoring Bitcoin over ether as a core institutional sleeve, though persistence depends on risk appetite after the Fed meeting.
Keystone to destroy nearly 19,000 unsold wallets after breach
Keystone said on October 26 that a October 20 website breach via a third-party tool exposed about 25,964 purchase records and a WebAuth device-authentication key. It will destroy 18,835 affected unsold units, pause shipments, and states seed phrases and private keys were not compromised.
Why it matters
Hardware-wallet makers again face website and supply-chain risk; users should watch for phishing while shipments and brand trust may lag.
Predict.fun reports about 400,000 USDT in unauthorized drains
On October 27 predict.fun said a small set of users saw unauthorized wallet transfers totaling about 400,000 USDT, preliminarily linked to a compromised third-party API documentation site. It took the site offline, pledged full reimbursement for direct losses, and said core contracts and main markets stayed secure.
Why it matters
Third-party docs remain a weak link; users should revoke risky approvals, and trust hinges on whether reimbursements clear quickly.
Ripple and C2FO settle Instant Pay on the XRP Ledger
On October 27 Ripple and working-capital platform C2FO said Instant Pay will settle early supplier payments with RLUSD on the XRP Ledger in seconds to minutes while keeping original invoice terms. Ripple also expanded custody and tokenized trade-finance work with BNY.
Why it matters
Stablecoins entering real trade cash flows could deepen XRPL and RLUSD institutional use, contingent on enterprise onboarding and compliance.
Ondo brings 15 tokenized stocks to Robinhood Chain
Ondo Finance said 15 of its tokenized stocks and ETFs, including Tesla, Apple and Nvidia, can now bridge to Robinhood Chain with 11 new Uniswap StablePair pools against Robinhood stock tokens, enabling near-24/7 on-chain liquidity.
Why it matters
Competition in tokenized equities intensifies and weekend trading widens, though issuer differences and redemption windows can leave price gaps.
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