Bitcoin falls below $84,000

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.

Bank of Montreal analysts noted in a research report that annual benchmark revision data from the U.S. Bureau of Economic Analysis (BEA) shows the U.S. Federal Reserve’s preferred inflation gauge was revised down more than expected, though inflation remains far above the Fed’s 2% target. The August core Personal Consumption Expenditures (PCE) price index rose less than anticipated, with year-over-year growth slowing to 3%—lower than the market consensus of 3.3% and the Fed’s own estimate of 3.2%. The economy is still expanding, and private sector hiring has held steady. Analysts believe these factors, paired with the downward inflation revision, have somewhat eased the urgency of another interest rate hike in October.

Solv Protocol has issued a clarification on the recent BTC+ redemption incident that sparked public discussion, stating that BTC+ deposit and redemption mechanisms are currently operating normally. The incident is an isolated case: a specific transaction triggered the protocol’s risk review, and it does not affect BTC+’s overall deposit and redemption functions. Assets related to the incident remain safe and intact within the protocol, with no transfer, destruction, or other disposal. The matter is under review in accordance with established risk management processes. The protocol will handle the incident based on verifiable information and evidence, rather than making judgments solely based on social media identities or one-sided public statements. If necessary, Solv Protocol will cooperate with legal counsel or pursue relevant judicial procedures to further verify the situation. Solv added that it will not respond to future public discussions based on online identities or similar cases, and will continue to prioritize asset safety and the normal operation of BTC+. Earlier, X user @neillee99 posted that he withdrew approximately 50 BTC from Binance on July 8, converted it to SolvBTC and BTC+ via standard processes to earn an annualized return of around 3%. BTC+ subsequently suspended minting and redemption; Solv Protocol announced the resumption of these functions on July 31, but the user claimed his address remains restricted and his related assets have not been redeemable to date. The user noted he has submitted proof of fund sources, transaction records, and wallet control, with his demand being the lifting of the address restriction.

US Senate Majority Leader Thune stated that Congress may raise the debt ceiling after the midterm elections.