Friday, September 25: Bitget hack. Iridium yes. Escondida restart.

The Triple Tape — Friday, September 25, 2026. Morning markets: crypto, stocks, and metals. Crypto: Bitget reports ~$351.6M hot/warm-wallet backend breach (spoofed transfers; CEO says private keys not compromised; withdrawals paused; User Protection Fund >$464M claimed cover). Fed proposes GENIUS Act implementing rules for Board-supervised payment-stablecoin issuers (60-day comment). CFTC staff FAQs: eligible tokenized assets for customer funds + blockchain OK for records. Ondo Intelligent Portfolios live (BlackRock-developed strategies for eligible non-U.S. investors). UK banks complete first live GBTD tokenised-sterling-deposit customer txs (Quant). Tape (CMC ~5:04 a.m. ET): Ondo +31.3%; FET +18.1%; Chainlink +13.1%. BTC ~$84,418; ETH ~$2,691. Stocks: Iridium stockholders approve Rocket Lab (~99.6% votes cast / ~81% outstanding; $54 notional; mid-2027 close). Select Water to buy Pilot Water for $700M (+$15M earnout; Q4’26). FT: Gen Digital early-stage approach to GoDaddy (no terms). SoftBank $11.1B record HY bond sale (OpenAI funding). Eli Lilly–InnoCare collab up to ~$3.35B. Earnings (Thu AMC): Costco adj EPS $6.60 vs $6.53; rev $95.72B vs $94.86B; comps ex-gas/FX +6.7%. Tape (Yahoo pre ~5:05 a.m. ET): People Inc. +8.8%; Select Water +6.6%; Arm +4.6%. Metals: Escondida gradually resumes after fatal-accident halt (Reuters). Antofagasta Centinela unions call strike vote Sep 26–28 (SMM). LME Cu stocks Sep 24: 251,175 (−1,325). SHFE Cu warehouse receipts Sep 24: 16,620 (−2,468). SMM China social Cu inv ~70,000 mt (−16,500 WoW). Tape (Kitco ~5:02 a.m. ET): Silver +1.2%; Gold +0.5%; Palladium −0.5%. Calendar: 8:30 August advance durables; 10:00 UMich final Sep sentiment (prelim 47.8) + BLS Employee Benefits; Schmid 9:20; Baker Hughes ~1:00; Hammack 2:00. Thu printed: claims 197k; CA deficit $246.0B; new homes 684k. Takeaway: Bitget breach containment vs weekend risk; Escondida gradual restart + Centinela strike vote into durables and Michigan; SoftBank HY issuance as AI funding backdrop. AI-assisted production. Voice: xAI lumen. No trade recommendations.