Thursday opened on the Fed’s own paper, not a new vote. Minutes of the September 15-16, 2026 FOMC meeting, posted October 7, show the Committee raised the federal funds target by 25 basis points to 3.75 to 4 percent on a 12-0 vote. Our CoinGecko snapshot fetched at 00:28 UTC on October 8, 2026 put Bitcoin at $83,236, down 2.58%, ether at $2,571.71, down 4.55%, and Solana at $116.27, down 3.41%. Global market cap sat near $2.84 trillion, with bitcoin dominance about 58.7%. First Digital, the group behind FDUSD, filed a $250 million business combination. AVAX One cut convertible debt to about $970,000. Moody’s assigned Sky Protocol a B3 rating. Aave, Lido, and Magicians posted fresh notes, and Kraken scheduled Maker Protection on 61 more perpetuals from 07:00 UTC. Map the tape with Bitcoin history, Ethereum history, and Solana history. Keep How to read a crypto market snapshot, plus stablecoin and DeFi notes nearby.
Crypto brief: October 8, 2026
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Fed minutes: 25 bp hike to 3.75-4% was unanimous
The Federal Reserve posted minutes of the September 15-16, 2026 FOMC meeting on October 7, 2026. The statement in those minutes records a 12-0 vote to raise the federal funds target range by 25 basis points to 3.75 to 4 percent, and the Board lifted the interest rate on reserve balances to 3.90 percent and the primary credit rate to 4.0 percent, both effective September 17. Participants said financial conditions still looked supportive of growth even after roughly 35 basis points of 2- to 10-year yield increase, and they flagged AI-related borrowing as one factor in higher term premiums. The next scheduled meeting is October 27-28, 2026.
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First Digital files a $250 million SPAC deal for FDUSD's parent
CSLM Digital Asset Acquisition Corp III (Nasdaq: KOYN) filed an October 7, 2026 8-K on a business combination agreement dated October 6 with First Digital Group Ltd. The package values First Digital at $250 million on a pre-money equity basis, subject to adjustments in the agreement. Exhibit 99.1 says First Digital is the group behind FDUSD, cites more than $4.7 trillion in cumulative trading volume as of June 30, 2026, a peak circulation above $4.4 billion in April 2024, and about $87 million of revenue for the fiscal year ended June 30, 2025. Closing is expected in the first half of 2027, and it still needs shareholder and regulatory approvals.
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AVAX One cuts convertible debt to about $970,000
AVAX One Technology Ltd. (Nasdaq: AVX) furnished an October 7, 2026 8-K with a third-quarter balance-sheet update. The company said it eliminated more than $14.9 million of debt in the quarter: about $7.1 million of convertible debentures converted into common shares, about $7.4 million repaid, and $0.4 million redeemed into shares. Convertible debt fell to about $970,000 as of September 30, 2026. It also reported 333,500 common shares repurchased in the quarter, adjusted for the June 15, 2026 one-for-twelve reverse split, and 9,987,248 common shares outstanding on September 30 versus 7,363,270 on June 30.
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Stablecoin Development holds about 10% of SKY after Q3 staking
Stablecoin Development Corporation (SDEV) filed an 8-K dated October 5, 2026 with preliminary quarter-end holdings. As of September 30, 2026 it held 2,321,079,862 SKY, almost all in the Sky Protocol staking contract, and marked that stack at about $180.2 million using a $0.07764 SKY price, up from about $119.2 million on June 30. The company said it earned about 34.6 million SKY in staking rewards during the quarter, has not sold any SKY, and held about $7.2 million cash with no debt. As of October 2, 2026 the stack was 2,321,910,691 SKY, which the filing describes as about 10% of SKY supply.
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Moody's assigns Sky Protocol a B3 rating, first on a stablecoin protocol
Sky Frontier Foundation said on October 7, 2026 that Moody's Ratings assigned Sky Protocol a B3 issuer rating with a stable outlook, the first Moody's rating on any stablecoin protocol. The foundation said S&P Global Ratings had recently assigned a B- rating, leaving Sky as the only stablecoin protocol with both major-agency marks. Moody's pointed to Sky Reserves as a central factor. The foundation said building those reserves remains a priority and that an investment-grade rating is a long-term ambition, not a current grade.
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Aave Risk Stewards queue V3 cap changes for October 7
LlamaRisk posted an October 7, 2026 Risk Stewards note for Aave V3. It recommends raising the PT-srUSDe-22OCT2026 supply cap on V3 Core from 10 million to 20 million after 92.1% utilization, and lifting WETH's Polygon supply cap from 15,000 to 20,000. On Mantle it would raise the USDe supply cap from 40 million to 80 million and cut the USDe borrow cap from 18 million to 10 million; on Base it would lift cbBTC from 3,200 to 4,000 and cbETH from 50,000 to 60,000. These are steward recommendations, not a finished on-chain execution report.
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Lido contributors unveil Lido Lend, a Morpho Blue fork still pending a DAO vote
Lido contributors posted Unveiling Lido Lend: Security-First Lending on October 7, 2026. The design is a modified Morpho Blue fork of isolated markets aimed at passive lenders and correlated pairs such as stETH/ETH, with deposit screening and clearer exit paths when utilization is high. The post says the market would be governed by Lido DAO if a governance vote accepts it. This is a development unveiling, not a live mainnet launch or a passed vote.
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Magicians draft ERC-8438 for storage-aware beacon proxies
A October 7, 2026 Ethereum Magicians post introduces ERC-8438, Storage-Aware Beacon Proxies, with a companion ERCs pull request (#2047) opened October 5. Beacon proxies today assume a new implementation still fits the old storage layout. The draft lets the beacon name both the implementation and a storage-layout identifier, so each proxy can migrate before switching or keep a compatible fallback if migration fails. It is a draft interface, not a scheduled hard fork.
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Kraken enables Maker Protection on 61 more perpetual markets from 07:00 UTC
Kraken scheduled Derivatives Maker Protection Phase 2 to start at 07:00 UTC on October 8, 2026. The status note says the venue will turn on Maker Protection for 61 additional perpetual markets, taking the total with the feature to 100. Kraken says the live flag remains the makerProtectionMillis field on the /instruments feed, and that the change is already in UAT. This is a derivatives matching change, not a spot wallet pause.