Wednesday opened with a custody proposal, not a live rule. The SEC published proposed Adviser and Regulated Fund Custody Rules plus Crypto Custody Rules in the Federal Register on October 6, 2026 (Release Nos. IA-7023 and IC-36353, File No. S7-2026-35). Comments are due December 7, 2026. Our CoinGecko snapshot fetched at 00:08 UTC on October 7, 2026 put Bitcoin at $85,468, down 0.35%, ether at $2,695.63, down 0.59%, and Solana at $120.46, down 0.28%. Global market cap sat near $2.92 trillion, with bitcoin dominance about 58.7%. Strive added 2,000 bitcoin. PowerCompute lifted Mississippi contracted power to 11 MW. 21Shares extended the TETH fee waiver. Protocol desks posted Aave, Spark, Lido, and ERC-8427 notes, and Kraken stretched a BELDEX window. Map the tape with Bitcoin history, Ethereum history, and Solana history. Keep How to read a crypto market snapshot, plus custody and DeFi notes nearby.
Crypto brief: October 7, 2026
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SEC proposes crypto custody rules, comments due December 7
The SEC published a proposed rule in the Federal Register on October 6, 2026, covering how regulated funds and registered advisers would custody crypto securities, client crypto funds, and similar investments. The package is Release Nos. IA-7023 and IC-36353, File No. S7-2026-35, RIN 3235-AN46. It would add proposed rule 17f-9 under the Investment Company Act and redesignate the Advisers Act custody rule as proposed rule 223-1, with Form ADV and Form N-CEN changes that include tokenized private funds. Comments should be received on or before December 7, 2026. This is a proposal. It is not a live custody regime.
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PowerCompute lifts Mississippi contracted power to 11 MW
PowerCompute (Nasdaq: PWCM) said its subsidiary US Digital Mining Mississippi LLC signed an Industrial Power Contract with Columbus Light and Water on September 30, 2026. The new contract took effect October 1, 2026, and raises contracted demand at the Columbus, Mississippi site from 8.5 megawatts to 11 megawatts, with an initial term ending September 16, 2030, and a five-year renewal if both parties agree. Power sits on Columbus Power Large Data Service Rate, Schedule DCB. The company said it was not assessed TVA's roughly $1.5 million per megawatt Capacity Commitment Charge on any of the 11 MW, Columbus Light and Water returned a $300,000 deposit, and the subsidiary's share of capital costs is estimated at $0.
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Strive buys 2,000 bitcoin, stack hits 29,462
Strive (Nasdaq: ASST) said that from September 28, 2026 through October 2, 2026 it purchased 2,000 bitcoin at an average price of about $84,422 per bitcoin, inclusive of fees and expenses. Bitcoin held rose from 27,462 to 29,462. Cash and cash equivalents rose from $248.8 million to $284.7 million, while 505,000 shares of Strategy STRC preferred were unchanged, with fair value moving from $49.763 million to $50.202 million. Class A common shares outstanding rose from 88,453,685 to 91,708,804.
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21Shares extends TETH 100% fee waiver through October 8, 2027
21Shares Ethereum Staking ETF (Cboe BZX: TETH) filed an 8-K dated October 6, 2026 saying 21Shares US LLC agreed to extend its voluntary 100% sponsor-fee waiver for an additional year through October 8, 2027. The accompanying press release said the net staking reward after fees and expenses was 2.65% as of October 1, 2026, annualized from a 30-day period, and is not a projection. The Trust is not registered under the Investment Company Act of 1940. The waiver applies automatically to current and prospective shareholders.
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Aave Risk Stewards queue V4 cap and WETH slope2 cuts
LlamaRisk posted Risk Steward recommendations for Aave V4 on October 6, 2026, and said the updates will move forward via the Risk Steward process. On Ethereum Core, it would raise the USDT Ethena Ecosystem Spoke draw cap from 1.5 million to 3 million, the Main Spoke USDT add cap from 28 million to 40 million, and the Main Spoke USDT draw cap from 20 million to 30 million. USDG Main Spoke draw would go from 50 million to 60 million, Maple Spoke USDG add and draw from 45 million and 42.75 million to 55 million and 50 million, and syrupUSDG add from 60 million to 70 million. WETH Core Hub slope2 would fall from 14.00% to 8.00% with WETH liquidity above 40.5 thousand tokens (about $110 million), and the matured PT-USDG-24SEP2026 add cap would go from 1 to 0.
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Spark would whitelist an stUSDS keeper in the October 8 spell
Sidestream posted a technical scope on October 5, 2026 for a permissioned keeper that would call StUsdsRateSetter.set with strBps, dutyBps, line, and cap after months of manual updates. The core October 8, 2026 spell is planned to whitelist a new EOA on StUsdsRateSetter at 0x30784615252B13E1DbE2bDf598627eaC297Bf4C5. A ValueRegistry at 0xcDb55A799A9B9eAe22Ed0E13037bb6D2E3f1d080 would store meta-parameters on Ethereum mainnet. No new protocol audits were done for this launch. Dewiz reviewed the offchain contract, and Pullup said it does not introduce new protocol risk because StUsdsRateSetter still caps the values.
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Lido: MetaMask Staking exits should finish by October 7
Lido research published a security disclosure on September 30, 2026 after MetaMask Staking (formerly Consensys Staking) began precautionary validator exits on Lido following an infrastructure-compromise investigation. Relevant validators had begun exiting, with the final validators expected to be exited but not fully withdrawn by the end of October 7, 2026. No action is required from stETH holders. ETH is expected to return over about 45 days because of the entry queue. MetaMask does not manage withdrawal keys, and Lido pointed to an ad hoc reserve fund of over 6,750 stETH.
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Magicians draft ERC-8427 portable spend grants
Ethereum Magicians hosts draft ERC-8427, Portable Spend Grants, created September 17, 2026, with the discussion thread opened September 25. The draft defines a typed EIP-712 grant from a principal to a delegate with per-call, trailing-window, and lifetime caps per asset. A registry stores remaining usage and revocation and does not move funds. Caps never treat zero as unlimited, and native currency uses the ERC-7528 address. This is a standards draft, not a mainnet upgrade.
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Kraken extends BELDEX and BDX liquidation to October 9
Kraken status said the BELDEX and BDX liquidation period was extended to October 9, 2026. The assets will be removed from accounts by end of day October 9. If the tokens can be liquidated, proceeds will be credited by end of day October 9. The window was marked in progress as of 18:10 UTC on October 5, 2026, with scheduled_until 23:59 UTC on October 9.