#investment-advisers - the daily grind

BREAKING

Oct 2The SEC Just Told Fund Managers They Can Hold Your Crypto Keys Themselves. The Catch: Every Quarter They Have to Write Down That Nobody Else Will●Oct 1Two Appeals Courts Just Said Kalshi Sports Bets Are Gambling. The CFTC, Run by One Man, Is Rewriting the Dictionary So They Aren't.●Sep 30Two Weeks After Its Engineers Were Charged Over HYPE Perps, Robinhood Says It Will Sell HYPE Perps to Every American●Sep 29Senate Investigators Checked 846 Sanctioned Iran Wallets. 84% of Them Ran on Tether●Sep 2853 Memecoins on Robinhood Chain Turned Out to Be One Crew. They Took $18.4M, and Each Rug Paid for the Next●Sep 27KelpDAO Is Suing LayerZero for the $292M Hack. Its Evidence: LayerZero Signed Off on the Exact Setup That Got Drained●Sep 26The SEC Is About to Be Two People. 'Crypto Mom' Hester Peirce Just Quit, and Nobody Has Been Nominated to Replace Her●Sep 25Hackers Took $351.6M From Bitget Without Stealing a Single Private Key. They Forged the Transfer Orders and Bitget's Own Signing Machines Approved Them●Sep 24BitMEX Invented the 100x Perpetual Swap, Beat a Criminal Case With a Presidential Pardon, Then Lost to the Product It Created. Leave Money There Now and It Costs You $50 a Month●Sep 23Circle Pays Binance Every Month to Push USDC. Now Binance Owns $100M of Circle, and the Filing Landed the Same Day the Sanctions Probe Leaked●Oct 2The SEC Just Told Fund Managers They Can Hold Your Crypto Keys Themselves. The Catch: Every Quarter They Have to Write Down That Nobody Else Will●Oct 1Two Appeals Courts Just Said Kalshi Sports Bets Are Gambling. The CFTC, Run by One Man, Is Rewriting the Dictionary So They Aren't.●Sep 30Two Weeks After Its Engineers Were Charged Over HYPE Perps, Robinhood Says It Will Sell HYPE Perps to Every American●Sep 29Senate Investigators Checked 846 Sanctioned Iran Wallets. 84% of Them Ran on Tether●Sep 2853 Memecoins on Robinhood Chain Turned Out to Be One Crew. They Took $18.4M, and Each Rug Paid for the Next●Sep 27KelpDAO Is Suing LayerZero for the $292M Hack. Its Evidence: LayerZero Signed Off on the Exact Setup That Got Drained●Sep 26The SEC Is About to Be Two People. 'Crypto Mom' Hester Peirce Just Quit, and Nobody Has Been Nominated to Replace Her●Sep 25Hackers Took $351.6M From Bitget Without Stealing a Single Private Key. They Forged the Transfer Orders and Bitget's Own Signing Machines Approved Them●Sep 24BitMEX Invented the 100x Perpetual Swap, Beat a Criminal Case With a Presidential Pardon, Then Lost to the Product It Created. Leave Money There Now and It Costs You $50 a Month●Sep 23Circle Pays Binance Every Month to Push USDC. Now Binance Owns $100M of Circle, and the Filing Landed the Same Day the Sanctions Probe Leaked●

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#investment-advisers

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The SEC Just Told Fund Managers They Can Hold Your Crypto Keys Themselves. The Catch: Every Quarter They Have to Write Down That Nobody Else Will

Oct 2, 2026 · 6 min read

On October 1 the SEC proposed a crypto custody framework for investment advisers and regulated funds. Advisers could self-custody client crypto if they document, before they start and every quarter after, that no permitted custodian will hold the asset. Transfers need two people to sign off, every client gets a separate address, and state-chartered trust companies become qualified custodians. Three years ago the Gensler-era SEC proposed a custody rule that would have pushed advisers toward banks and broker-dealers. It was withdrawn in June 2025. The new one landed a day before the commission shrinks to two members.