Here’s what happened in crypto today
Need to know what happened in crypto today? Here is the latest news on daily trends and events impacting Bitcoin price, blockchain, DeFi, Web3 and crypto regulation.
Today in crypto, Blast announced it is shutting down its Ethereum layer-2 network after operating costs outpaced revenue, US spot Bitcoin ETFs started October with $102.7 million in net inflows and the SEC proposed easing crypto custody requirements for investment advisers and funds.
Blast is shutting down its Ethereum layer-2 network after concluding that the chain costs more to operate than it generates in revenue.
The network said there is no “credible path” to becoming economically sustainable and urged users to move their assets to Ethereum mainnet. Blast will shorten its withdrawal delay to 24 hours, although withdrawals will be temporarily paused while it unwinds assets held through Lido, a process expected to take about a week.
Users have until Oct. 26 to withdraw through Blast’s interface. Assets will remain accessible after the deadline, but users will need to interact directly with the network’s bridge contracts on Ethereum.
Blur founder Tieshun “Pacman” Roquerre launched Blast in 2023, offering native yield on Ether and stablecoins alongside incentives tied to an anticipated token airdrop. The strategy attracted more than $2 billion before its mainnet launch in February 2024.
The early momentum faded alongside the NFT market. Blast’s DeFi total value locked has fallen more than 98% from its roughly $2.2 billion peak in June 2024.
US spot Bitcoin exchange-traded funds (ETFs) flipped back to net inflows on the first trading day of October after their strongest quarter of 2026.
Bitcoin ETFs attracted $102.7 million in net inflows on Thursday, following Wednesday’s $148.7 million in net outflows, >according to SoSoValue data. Their combined net assets rose to $109.3 billion, while cumulative net inflows reached $57.6 billion.
The positive start to the month followed $6.34 billion in third-quarter net inflows, including $2.65 billion in September. Bitcoin rose 42.7% over the quarter.
Bitcoin traded at about $85,900 at the time of publication, up 2.1% over the past 24 hours, >according to CoinGecko. Alternative.me’s Crypto Fear & Greed Index >slipped to 72 from 74 a day earlier, remaining in “Greed” territory.
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