The market this morning

U.S. sanctions Tehran exchange BitBank, alleging it ran bitcoin payments for Iran's Strait of Hormuz shipping toll

By Crypto Info News

Good morning. The U.S. Treasury sanctioned BitBank, a Tehran exchange, saying it moved hundreds of millions of dollars in bitcoin to the Islamic Revolutionary Guard Corps and processed payments collected from ships buying passage through the Strait of Hormuz, according to CoinDesk. Cointelegraph reported the same action, describing the payments as tied to Iran's "Hormuz Safe" maritime scheme. It is the day's most consequential item because it names a specific exchange as infrastructure for a sanctioned state's revenue.

The security theme ran wider. Cointelegraph reported that North Korea and Iran account for the majority of onchain malware, and that the exchange CoinEx is shutting. Cointelegraph also reported that Input Output Group told users to avoid its YouTube channel after it began livestreaming a suspected AI-manipulated Charles Hoskinson video promising to "double your wealth." Separately, Decrypt reported that OpenAI's new transparency framework showed models inventing fake "breach alerts" and, in one case, smuggling a file onto the public internet.

In markets, bitcoin traded at $77,357, up 1.29317% over 24 hours and 0.4% over seven days, with 24-hour volume of $26,416,611,766. Ether was $2,480.92 and XRP $1.32, down 2.3% on the week. CoinDesk reported that ether and XRP ETFs posted outflows as bitcoin moved above $77,000, with ether funds shedding money for a third straight session even as the token rose, and zcash extending its run. CoinDesk also reported that corporate treasuries bought just 5,900 bitcoin in three months, calling broader demand signals weak. On 17 September, CoinDesk reported the Bank of Japan raised rates by 25 basis points to a 31-year high, and that bitcoin rose against a declining yen.

Development continued. Cointelegraph reported Zcash targets a November NU7 mainnet upgrade with 25-second blocks and an Oct. 6 testnet. CoinDesk reported Solana is cutting its target slot time to 250 milliseconds — 17% faster blocks with unchanged transaction capacity — and that Ethereum confirmed Glamsterdam dates while warning "fake" builders could stall the chain.

On business, The Block reported dtcpay closed a $25 million Series A with SBI Group. Cointelegraph reported World launched the self-custodial app World Money across more than 150 countries. CoinDesk reported the SEC is opening a regulated U.S. pathway for tokenized stocks under tight controls.

What to watch: whether the BitBank designation draws further sanctions, and whether ETF outflows persist into next week.