This is what happened in crypto today

Need to know what happened in crypto today? Here's the latest news on daily trends and events affecting the price of Bitcoin, Blockchain, DeFi, Web3 and crypto regulation.

In crypto today, the Financial Stability Board (FSB) presented its concerns about stablecoins and artificial intelligence to G20 ministers, XRP Ledger developers defended an emergency patch for a bug that could have allowed unlimited XRP creation, and Michael Silver hinted at more purchases by Strategy after the company prioritized buying Bitcoin shares.

The FSB, a global financial watchdog, has outlined the financial stability risks associated with artificial intelligence and regulatory concerns surrounding stablecoins.

In a letter published on Monday, FSB chief Andrew Bailey warned that cross-border mechanisms to monitor stablecoins and manage crises "remain immature or underdeveloped." In the 2025 survey, the FSB found that 11 of the 28 jurisdictions surveyed had finalized stablecoin regulatory frameworks.

He also called on G20 members to support the FSB's finalized new practices for the responsible adoption of AI in the financial sector.

"Artificial intelligence therefore requires our careful attention along with careful management of financial institutions," Bailey wrote.

The FSB sent the letter to G20 finance ministers and central bank governors ahead of their meeting on Thursday. The G20 brings together the world's major economies to coordinate fiscal policies and regulatory priorities.

XRP Ledger developers have defended an emergency security patch used to fix a bug that could make XRP beyond the network's fixed resources, saying they could not wait for the network's usual two-week validation vote without exposing the flaw to attackers.

The fix, released on September 25th, came three days after the bug bounty was reported and was immediately applied to every server that had it installed. They said it was the first deliberate circumvention of the normal reform process since the system was introduced more than a decade ago.

"With a simple amendment vote, this fix would have been weeks before public implementation and would have compromised network security," the XRPL developers said in an X post on Sunday.

The quick fix led to questions about the decentralized level of XRPL. On its website, XRPL claims to be a fully decentralized and public blockchain — a characteristic that has been central to arguments that its underlying cryptocurrency, XRP, is not a security.

Chief strategist Michael Silver teased investors watching the company's recent bitcoin buy signal Sunday with the message, "There's always room for more orange," in a post on X.

However, any official announcement via a filing with the U.S. Securities and Exchange Commission likely won't be until Tuesday, as federal offices will be closed Monday for the Columbus Day holiday.

The strategy ended September by spending more than six times its weekly bitcoin (BTC) budget to repurchase one of its preferred stocks. Strategy334 bought $28.7 million worth of Bitcoin (BTC) between September 28 and October 4, bringing its holdings to exactly 848,000 BTC, according to its October 5 Form 8-K.