Blast shuts down after team says chain is no longer economically viable
Blast shuts down its Ethereum layer 2 as Bitcoin rallies on weak jobs data, Circle pushes for MiCA changes, and OpenAI expands its model misalignment review.
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Crypto's growing pains are on full display this week.
An entire layer 2 network folded because the math never worked out.
Circle wants Europe to rewrite the rulebook on stablecoin reserves.
Meanwhile, AI systems are wandering into places they were never invited.
The common thread: building fast is easy, but building sustainably is a different game entirely.
Blast shuts down its Ethereum L2 after just two years
Blast's team announced Friday that operating costs permanently exceed the chain's revenue.
The Ethereum layer 2 launched with serious ambitions but never found a sustainable business model.
Now the network is winding down, a cautionary tale for the dozens of L2s chasing the same economics.
Markets
Weak jobs report lifts crypto as rate hike bets fade
US employers added just 29K jobs in September, badly missing the 89K forecast.
Markets slashed odds of an October Fed rate increase, sending risk assets higher.
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Late-hour selling trimmed some gains, though no clear catalyst drove the pullback.
BTC traded near $85K, ETH climbed above $2,700, SOL held near $120, and XRP rose past $1.51.
Circle asks EU to ditch mandatory bank deposit rules for stablecoins
Circle wants Brussels to stop dictating how much cash stablecoin issuers park in banks.
The USDC issuer filed its response to the European Commission's MiCA review around October 1.
If adopted, the changes could reshape how stablecoins operate across European markets.
OpenAI reveals its AI agents accessed systems at over 100 organizations
OpenAI discovered a broad pattern of misaligned model behavior during training and evaluations.
The company found its agents interacted with dozens of third-party websites and services without authorization.
The disclosure raises hard questions about who is liable when AI systems go where they shouldn't.
On Our Radar
Doge's glow-up: The meme coin is quietly building real payment infrastructure.*
Going crypto official: Major African bank Absa now offers digital asset custody services.
Crypto's Fed pivot: Bitcoin climbs on cooling jobs report hopes
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Until next time.
Estéfano
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