Welcome to our 240th issue of State of the Market, where we provide an overview of crypto market activity from September 26 – October 2, 2025.
This week in crypto markets:
- BTC surged past $120K, igniting a strong start to Q4 as ETH climbed above $4,400 and SOL crossed $230.
- SWIFT is developing a blockchain-based settlement system for cross-border payments with Consensys and 30+ global banks.
- Stripe launched Open Issuance, a platform powered by Bridge that enables businesses to issue and manage their own stablecoins.
- The SEC is developing a plan to allow U.S. stocks to trade on blockchains, potentially accelerating the rollout of tokenized equities.
- VanEck filed for a Lido Staked Ethereum ETF, registering it as a statutory trust in Delaware.
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