Bitcoin Falls, Blast Shuts Down, and NEAR Recovers $3.8M in Crypto Market Turmoil

Crypto markets experienced a downturn, with Bitcoin falling below $85,000. The decline follows a brief spike above $87,000, where it failed to hold. Blast announced plans to shut down its Ethereum layer-2 network, citing high operating costs and lack of financial sustainability.

NEAR Intents, a service that allows users to manage cryptocurrency, recovered $3.8 million stolen in a security breach. The funds were returned within 48 hours, meeting a deadline set by the attacker. The team behind NEAR Intents urged security researchers to use bug bounty programs to report software flaws.

The Independent Community Bankers of America (ICBA) filed a lawsuit against the Office of the Comptroller of the Currency (OCC) over crypto trust charters. The ICBA argues that crypto companies receive a federal bank charter without meeting requirements, giving them credibility without accountability.

U.S. spot Bitcoin ETFs saw net inflows of $102.7 million on October 1, reversing the previous day's outflow. BlackRock's IBIT led the inflows with $195.6 million, while Fidelity's FBTC saw $60.7 million in withdrawals.