Here’s what happened in crypto today — SkimNews
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- NEAR Intents blocked more than $50 million in attempted transfers linked to last week's Bitget hack, freezing $503,000 via its SHIELD system while $166,000 in suspected stolen funds passed through to other providers.
- Bitget revised the stolen amount from $351.6 million to $387.5 million after accounting for additional Zcash and Tron transfers, and resumed Bitcoin withdrawals Monday with CEO Gracy Chen explaining ETH and USDt would follow as security checks progress.
- The September 24 Bitget breach compromised hot and warm wallet infrastructure while cold wallets remained secure, according to the exchange.
- The SEC issued new FAQs clarifying when crypto assets and activities fall outside federal securities laws, stating token buybacks may not constitute managerial efforts when a network is functional without a central party, and staking receipt tokens would not automatically be treated as securities — though the guidance is non-binding.
- The SEC guidance follows similar CFTC guidance and comes days after the Senate failed to advance the CLARITY Act, leaving both agencies to proceed under existing authority while legislation remains stalled.
Why it matters: NEAR Intents blocked $50M+ from Bitget's $387.5M hack, showing permissionless networks can selectively freeze illicit funds. The SEC's non-binding FAQs clarify Howey test application for token buybacks and staking — but with the CLARITY Act stalled, crypto firms remain without a statutory SEC/CFTC oversight framework.
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