Ethereum Foundation Announces Formation of Platform Team to Build Unified Platform Harnessing Ethereum L1+L2 Synergies

Ethereum Name Service (ENS) founder Nick Johnson has released a statement denying that he issued tokens on Robinhood. He explained that the relevant account was created for a Twitter contest, where participants needed to find the account’s mnemonic phrase from an image. The account and its mnemonic phrase have thus long been public, and are not his private account intended for token issuance.

The U.S. Securities and Exchange Commission (SEC) on Wednesday unveiled a series of reform proposals aimed at expanding individual investors’ access to private markets, enabling more retail investors to gain exposure to private equity, early-stage startups and other alternative assets. One proposal would allow registered investment advisors to charge performance fees of up to 20% based on fund performance, aligning the fee structure closer to the “2% management fee + 20% performance fee” model used by some hedge funds, in a bid to attract more private fund managers to serve individual investors. SEC Chair Paul Atkins stated that the commission aims to explore ways to expand individual investors’ participation in private markets while preventing fraud and misconduct. The SEC also proposed expanding the definition of an “accredited investor” to qualify more individuals with professional credentials, including certified public accountants (CPAs) and Chartered Financial Analysts (CFAs), as eligible investors.

Open Standard CEO Zach Abrams stated that the firm will center its stablecoin economic allocation mechanism on the OUSD model. Founding partners will not receive special revenue splits; instead, they will follow the same rules as other partners, earning rewards based on the OUSD volume they drive. Abrams added that Open Standard plans to allocate the vast majority of the company’s equity to founding partners and other network partners over the next four to five years. Partners meeting the minimum threshold will be eligible for equity based on the OUSD supply and transaction activity they drive, a move aimed at encouraging partners to boost OUSD circulation rather than just holding tokens. The company has not yet disclosed specific participation thresholds. Abrams argued that OUSD’s growth opportunities are not limited to capturing market share from USDT or USDC; sectors including card settlements, foreign exchange trading, and cross-border payments can also leverage stablecoins to facilitate faster, more frequent fund flows than traditional banking networks.

Ostium has released an update on OLP fund recovery, stating that a multi-vector attack on July 15 disrupted the platform’s off-chain pricing and signing infrastructure, resulting in approximately $23.75 million being drained from its liquidity pool. Current evidence indicates the attacker may be a state-sponsored actor. The platform resumed trading on July 23 on migrated, hardened infrastructure, and has so far recovered 649,967 USDC. OLP completed its first post-incident settlement on September 12, with related losses reflected in its share price for the first time. Affected users hold proportional claims to the pool’s remaining assets, which are currently valued at roughly 30% of their pre-incident OLP holdings. OLP resumed regular settlements on September 15, though new deposits remain suspended. Users can request withdrawals at any time, with settlements processed on a T+3 basis; withdrawals will not impact eligibility for the recovery program. Ostium’s recovery portal is now live. The snapshot has identified 3,666 affected wallets, of which 3,321 (90.59%) qualify for 100% compensation of their verified losses in Phase 1. Users with losses of 1,000 USDC or less can claim an equivalent amount of USDC directly; those with losses exceeding 1,000 USDC may choose to take 1,000 USDC and forfeit the remaining balance, or participate in a proportional Phase 2 recovery program. Phase 2 funding will come from future recovered assets, Ostium protocol revenue shares, and potential additional contributions, with full details to be announced before the October 30 Phase 2 selection deadline.

Hyperliquid co-founder iliensinc stated in the official Discord channel that Hyperliquid Labs will un-stake 3.75 million tokens today, and plans to distribute the related tokens to team members on October 7. The tokens were obtained via an over-the-counter (OTC) transaction with an institution and will not be sold on the open market.

Open Standard announces the official launch of its U.S. dollar stablecoin OUSD, enabling enterprises and developers to build internet-native financial services and products—such as banking, cross-border payments, settlements, and institutional transactions—using OUSD. OUSD currently offers four integration paths, with related APIs and tools covering settlement, payment orchestration, trading, foreign exchange conversion, wallets, and bank card services. All channels support the free minting and burning of OUSD at a 1:1 U.S. dollar exchange rate. Enterprises can now integrate via Mastercard, Stripe, and Visa Stablecoin Platform; Coinbase integration will open on October 1. OUSD natively supports Base, Ethereum, Solana, and Tempo, and will first be listed on centralized and decentralized trading platforms including Coinbase, Kraken, and Uniswap. Issued by Bridge, a subsidiary of Stripe, OUSD’s reserve assets are held at BlackRock, Lead Bank, and The Bank of New York Mellon, with reserve proofs published monthly. Open Standard currently boasts over 200 partners spanning financial institutions, fintech companies, banks, and global enterprises.