Scenius Sync (Issue # 173)

ICE Bets $2B On Polymarket, UK Lifts Retail Ban on Crypto ETNs, Monad Opening Airdrop Claim Portal, IBIT Surpasses $800k BTC, & Ethereum Foundation Creates Privacy Cluster

Scenius: The intelligence and the intuition of a whole cultural scene. The communal form of the concept of genius.

Welcome to The Scenius Sync.

Our mission with this concise publication is twofold:

1. Share the essential stories driving the crypto industry and markets.

2. Highlight innovative applications and mainstream adoption of crypto and blockchain technology.

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Essential News 🗞

1. New York Stock Exchange Owner Bets $2 Billion On Polymarket Comeback

   • Intercontinental Exchange (ICE), owner of the New York Stock Exchange, announced a $2 billion investment in Polymarket, valuing the once-penalized prediction market at over $8 billion.

   • Relatedly, Polymarket CEO Shayne Coplan Is Youngest ‘Self-Made Billionaire,’ Bloomberg Says

2. UK lifts ban on crypto exchange-traded notes as ‘market has evolved’

   • The UK government has finally lifted its ban on crypto exchange-traded notes, citing a maturation of the industry and a greater understanding of digital asset products. In an announcement on Wednesday, the Financial Conduct Authority (FCA) outlined that retail investors can now access crypto ETNs via FCA-approved exchanges based in the UK. A crypto exchange-traded note is a debt product that allows an investor to gain exposure to a cryptocurrency without owning the underlying asset. These types of products are essentially traded similarly to any other security, with underlying crypto held securely by regulated custodians. “Since we restricted retail access to crypto ETNs, the market has evolved, and products have become more mainstream and better understood. In light of this, we’re providing consumers with more choice, while ensuring there are protections in place,” said David Geale, FCA executive director of payments and digital finance, as part of the announcement.

3. Bank of North Dakota Taps Fiserv to Launch State-Backed ‘Roughrider Coin’

   • The Bank of North Dakota and financial technology firm Fiserv announced Wednesday that they will launch Roughrider Coin, a U.S. dollar-backed stablecoin set to debut in 2026. The token will operate on Fiserv’s digital asset platform, FIUSD, and be available to the state’s banks and credit unions.

     Fiserv launched FIUSD in June, a blockchain-based system that allows banks and credit unions to issue and transfer dollar-backed digital assets.

     That same month, Mastercard said it would integrate FIUSD into its global payments network. Built on the Solana blockchain, Roughrider Coin will be the first state-issued stablecoin to use the platform.

4. Two Indicted in Tel Aviv Over $600,000 ‘Wrench Attack’ on Bitcoin Trader

   • A Herzliya crypto trader was reportedly stabbed twice and robbed of nearly $600,000 in crypto after three assailants ambushed him in his apartment building on September 7. The attack lasted over an hour, with captors allegedly threatening his family and cleaning the crime scene with disinfectant before fleeing with Bitcoin, USDT, and a $50,000 Rolex. A security expert reported 52 such “wrench attacks” globally in 2025, averaging one per week.

5. US Labor Union Federation Slams Senate Crypto Bill as ‘Facade of Regulation’

   • The American Federation of Labor and Congress of Industrial Organizations warned Monday the Responsible Financial Innovation Act provides only “the facade of regulation” while weakening worker protections and consumer safeguards. The labor federation’s letter comes as Senate Republicans push for a floor vote in November. Union officials criticized provisions letting FDIC-insured banks directly trade crypto and enabling tokenized securities to bypass SEC oversight.

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Innovation & Adoption 💡📈

1. BlackRock’s bitcoin ETF surpasses 800,000 BTC in assets under management after $4 billion inflow streak

   • BlackRock’s IBIT spot bitcoin exchange-traded fund crossed 800,000 BTC ($97 billion) in assets under management on Wednesday, less than two years after trading began in January 2024. BlackRock’s bitcoin ETF had already accumulated over 798,747 BTC as of Oct. 7, according to its latest fund disclosures. IBIT’s $426.2 million worth of net inflows yesterday was enough to tip it over the milestone, reaching approximately 802,198 BTC — 3.8% of bitcoin’s total 21 million supply. For context, that puts BlackRock’s holdings on behalf of its clients strongly ahead of the leading bitcoin treasury company, Michael Saylor’s Strategy, which holds 640,031 BTC — worth around $78 billion — accounting for 3.1% of total supply.

2. Monad will open its airdrop claim portal on Tuesday, October 14th

   • More coverage here from CoinDesk: Monad Confirms Airdrop Timing, But Allocation Details Remain Under Wraps

3. Coinbase integrates DEX trading within its exchange for US users on Base network

   • Coinbase first teased the DEX feature in August, when it was available to select users, and officially rolled it out to the public on Wednesday. The company said it has integrated the DEX service with liquidity pools supported by 1inch and 0x. Crypto exchange Coinbase has officially launched DEX trading within its app for U.S. users, excluding those in New York. The exchange first teased the feature in August, when it was available to select users, and officially rolled it out to the public on Wednesday, according to a company blog post. Coinbase users can now trade tokens before they’re considered for traditional listing on the exchange. “Explore millions of assets, moments after they launch, right from the Coinbase app. DEX trading is live for all U.S. users (ex. NY),” the exchange said Wednesday in a post on X.

4. Ethereum Foundation creates Privacy Cluster team to strengthen onchain privacy

   • The Ethereum Foundation announced the formation of the Privacy Cluster, a team of 47 researchers, engineers, and cryptographers coordinated by Blockscout and xDai founder Igor Barinov. In a Wednesday blog post, the foundation said that it is collaborating with the broader community — complementing existing privacy projects — to establish privacy as a “first-class property” of Ethereum. As such, the foundation has released a roadmap outlining current progress towards building comprehensive end-to-end privacy into the world’s second-largest blockchain. “Ethereum was created to be the foundation of digital trust, one that is worthy of civilizational scale. For that trust to remain credible, privacy must be part of its core,” the foundation said in the blog post.

5. Citi Ventures Invests in BVNK to Power the Next Generation of Financial Infrastructure

   • Citi Ventures has announced a strategic investment in BVNK, the global stablecoin infrastructure platform. The move follows recent backing from Visa, Haun Ventures, Tiger Global and other top-tier investors highlighting the shift toward digital asset-based infrastructure. “Stablecoins are seeing increased interest in use for settlement of on-chain and crypto asset transactions,” said Arvind Purushotham, Head of Citi Ventures. “We were impressed by BVNK’s enterprise-grade infrastructure, and their proven track record.”