Top 5 Crypto News of the Week! (14 - 20 September)

Dear PointPay Family,

Major events and compelling headlines - we've read through them all to bring you the top 5 most important stories of the week. Dive into our roundup to stay up to date with the crypto space and keep track of the key developments shaping the industry.

Circle launches public mainnet of Arc blockchain

Circle has opened the public mainnet of Arc, a standalone Layer 1 blockchain designed for financial markets, payments, and stablecoin use cases. USDC is used to pay for gas, while transaction finality is stated to take less than one second. At launch, the network connected more than 100 applications and institutional participants.

Arc's key feature is its attempt to build blockchain infrastructure directly around financial operations rather than around its own speculative token. One of its core features is interoperability with other networks through Circle's CCTP and Gateway.

Solana more than triples its maximum transaction size

On Solana's mainnet, Transaction V1 has been activated. The maximum size of a single transaction has increased from 1,232 to 4,096 bytes, or approximately 3.3 times. Older transaction formats continue to work as before.

The change is primarily designed to support more complex operations: large multisig transactions, zero-knowledge proofs, and certain confidential transfers can now fit into a single atomic transaction. This does not mean that Solana's TPS has automatically increased 3.3 times - the change affects the maximum amount of data that can be included in a single transaction.

Fed raises rates for the first time in more than three years - crypto market reacts sharply

The US Federal Reserve unanimously raised the target range for the federal funds rate by 25 basis points, to 3.75-4%. This marked the first Fed rate hike since 2023.

Following the decision, Bitcoin and Ether experienced sharp intraday volatility: according to The Block, BTC traded at approximately $75,000-$76,500, while ETH moved around $2,370-$2,430 immediately after the announcement. The interest rate itself is a macroeconomic factor, so this is not a crypto story in the narrow sense, but it directly affected digital asset markets during the period under review.

Ethereum and Base move away from a unified approach to account abstraction

Ethereum and Base developers have ended their attempt to combine two account abstraction proposals - EIP-8141 and EIP-8130. The teams will now continue developing their own approaches.

Both concepts aim to simplify the way users interact with wallets - for example, through passkeys, transaction batching, and the ability to pay gas without having to hold ETH. At the same time, Ethereum and Base are placing different priorities on security, censorship resistance, scalability, and practical compatibility.

Revolut suffers data breach, including Bitcoin transaction history

Revolut confirmed that an attacker gained access to the data of some customers after exploiting a fraudulent request sent from an address belonging to a legitimate government domain.

According to the company's notification, potentially exposed information could have included account statements, IBANs, withdrawal details, and complete transaction histories, including Bitcoin transactions. Revolut said the number of affected customers was limited and that those customers were contacted directly.


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