Naija Profit Zone

🏛 Fed rate clues could shake Bitcoin this week Bitcoin is trading near $83,000 as the crypto market enters a high-stakes week for U.S. economic data. Traders are watching closely for fresh signals on the Federal Reserve's next interest rate move. U.S. 10-year Treasury yields remain elevated near 5.15%, maintaining pressure on risk assets including crypto. Upcoming jobs and inflation data are seen as key factors that could determine whether Bitcoin pushes above $85,000 or pulls back further. Higher-than-expected inflation or strong jobs numbers could reinforce the Fed's case for holding rates higher for longer — historically a headwind for crypto markets. Source

🟠 Bitcoin ETFs flip year-to-date flows positive after $2.4B week U.S. spot Bitcoin ETFs recorded $2.4 billion in net inflows last week, enough to push year-to-date flows into positive territory — reversing months of net outflows that had accumulated since the products launched in January 2024. Ethereum ETFs also saw a strong week, pulling in nearly $700 million in net inflows over the same period. The combined performance marks one of the strongest weekly stretches for crypto ETF products since their launch, signalling renewed institutional appetite for regulated crypto exposure. Source

🔷 Vitalik: Ethereum Evolving Into a Cryptographic World Computer Ethereum co-founder Vitalik Buterin has outlined a long-term vision for Ethereum as a "cryptographic world computer," describing the protocol's trajectory beyond its current roadmap phase. Buterin points to three core pillars driving this evolution: STARK-based proofs for scalable cryptographic verification, enhanced on-chain privacy, and a leaner consensus mechanism. Together, these would allow Ethereum to function not just as a settlement layer but as a verifiable, privacy-preserving computation platform. The remarks come as Ethereum continues to advance through its multi-phase upgrade roadmap, with scalability and privacy increasingly central to developer discussions heading into 2025 and beyond. Source

🔐 Bitget Hack Funds Traced Through Wasabi CoinJoin AMLBot has traced approximately 4 BTC linked to the Bitget hack being routed through Wasabi CoinJoin in an apparent laundering attempt. The funds moved through a chain of swaps involving USDT0, Ethereum, and THORChain before reaching the privacy-focused mixing service. Wasabi CoinJoin is a Bitcoin privacy tool that pools transactions from multiple users to obscure the origin of funds — commonly used by threat actors seeking to break on-chain traceability. Source

🏦 Kraken Parent Payward Targets Full Financial Infrastructure Kraken's parent company Payward is moving beyond its identity as a crypto exchange, with co-CEO Arjun Sethi outlining a strategy to unify trading, payments, asset management and institutional services on shared infrastructure. The shift signals Payward's ambition to position itself as broad financial rails — not just a venue for crypto trading. No specific investment figures or timelines were detailed in the announcement. The move follows a broader industry trend of major crypto firms expanding into traditional financial services, competing more directly with banks and fintech platforms. Source

🔐 Bitget confirms $351.6M hot wallet breach, halts withdrawals Crypto exchange Bitget has confirmed a security breach involving approximately $351.6 million in funds, detected on Sept. 24 at 18:31 UTC after its security systems flagged unauthorized transfers from some of its hot wallets. The exchange has activated emergency response procedures and temporarily suspended withdrawals pending the outcome of its investigation. No further details on the assets affected or the attack vector have been disclosed at this stage. Hot wallet breaches — where funds held in internet-connected wallets are drained — remain one of the most common attack types targeting centralized exchanges. Source

📊 BitMine's Tom Lee sees current crypto rally extending further BitMine chairman Tom Lee says the ongoing crypto rally has room to run, citing three structural drivers: traditional financial firms moving into digital assets, growing stablecoin adoption, and emerging AI-linked applications in crypto. Lee argues this cycle differs from previous ones because it is not driven by the same speculative dynamics as past bull markets — institutional and fintech participation is reshaping the landscape. No specific price targets or timelines were provided. Source

🟠 Bitcoin clears key cost bases, eyes $96,700 resistance Bitcoin has broken above the cost-basis levels that capped its recovery earlier in the year, with on-chain data pointing to $96,700 as the next major resistance zone. The improved setup is driven by rising ETF demand, stronger spot trading volume, and restrained profit-taking by holders. A $14 billion quarterly options expiry has now cleared the market, removing a significant overhang that had weighed on price action. Analysts note the combination of institutional inflows via ETFs and disciplined spot market activity as key factors supporting the current structure. No major on-chain resistance is cited between current levels and the $96,700 mark. Source

💵 Fed Proposes Reserve and Capital Rules for Stablecoin Issuers The U.S. Federal Reserve released two proposals on September 24 targeting stablecoin issuers it supervises under the GENIUS Act, opening both for public comment. The first proposal covers reserve requirements, capital charges, risk management, and custody standards for payment stablecoin issuers. The second outlines an application process for bank subsidiaries seeking to issue stablecoins, following the GENIUS Act's 120-day decision clock. Covered issuers would generally be required to redeem tokens within two business days. Fed Governor Michael Barr separately raised questions about an anti-money laundering standard included in the proposals. The GENIUS Act established the federal framework for stablecoin regulation in the U.S., and these proposals mark the Fed's next step in implementing it. Source

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