Markets were driven by infrastructure news and continued corporate treasury accumulation today, with Quant’s token soaring after banking groups selected its technology for tokenised payments, large public companies adding to crypto treasuries, and movement detected from the wallet tied to the Bitget hack.
Quant jumps after Clearing House selection and UK bank trials
Quant’s QNT token rose sharply this week, reaching an intraday high of $373 and surging as much as 322% over seven days. The price action followed a decision by The Clearing House, owned by 25 major U.S. banks including JPMorgan, Citi and Bank of America, to select Quant’s technology for its On‑Chain Money Initiative network. The initiative aims to launch in the first half of 2027. At the same time, UK Finance confirmed live payment trials using tokenised sterling on Quant’s platform, with participation from banks such as Barclays, HSBC UK and Lloyds. Tokenisation is the process of representing real‑world assets, like fiat currency, as digital tokens on a blockchain.
Analysts noted that neither the Clearing House announcement nor the published technical documentation mentions the QNT token itself, leaving it unclear whether the corporate technology agreements will translate into direct demand for QNT in secondary markets.
Corporate treasuries continue to build Bitcoin and Ethereum positions
Several publicly disclosed treasury purchases were reported: Strategy added 1,665 BTC for $142.7 million, lifting its holdings to a record 847,666 BTC, and simultaneously repurchased STRC preferred shares worth $151.7 million. Strive bought 1,107 BTC for $94.5 million, bringing its total to 27,462 BTC; the report states 85% of that funding came from its SATA preferred share. Separately, Bitmine acquired 17,362 ETH for approximately $47 million, increasing its holdings to 6,001,302 ETH, which the filing said represents 4.9% of the Ethereum supply. Bitmine’s president, Tom Lee, cited a crypto bull market that has been underway since late June as context for the purchase.
These filings underscore the ongoing strategy by some listed companies and funds to accumulate digital assets on their balance sheets, using various financing mechanisms including preferred share issuances and repurchases.
Bitget hacker moves funds through Thorchain and CoinJoin
A wallet linked to the September 24 Bitget breach moved roughly 2,390 ETH, valued at about $6.3 million, exchanging it for 75.2 BTC via Thorchain. This was the first detected movement of funds since the exchange revised the total breach amount to $387.5 million. Bitget’s CEO Gracy Chen formally asked Thorchain to deny service to the attacker’s known addresses. Thorchain replied that it cannot freeze individual transactions and that its only option in extreme cases is to halt the entire network. Separately, a compliance firm traced part of the stolen Bitcoin as it passed through a Wasabi CoinJoin privacy round; CoinJoin tools combine multiple users’ coins to enhance privacy.
What this day’s developments imply
The reports show how enterprise adoption of blockchain infrastructure can coincide with sharp token price moves even when token economics are not explicitly referenced in the corporate agreements. At the same time, ongoing accumulation by treasury‑holding companies continues to support demand for major cryptocurrencies. The Bitget case highlights practical limits on intervention when funds move through decentralized protocols and privacy tools.
Note: the episode producer flagged possible name or reference errors in the source material due to dyslexia. Content is for informational purposes only and does not constitute investment advice.