Crypto Today: Orionx Shutters Over $7M Custody Gap, Poland Upholds Veto, CLARITY Act Gains Ground

Tether-backed Chilean crypto exchange Orionx is permanently shutting down after a forensic audit uncovered more than $7 million in customer assets that had been transferred to wallets outside its custody between 2018 and 2021. The exchange has suspended withdrawals while it works to return as much of clients' funds as possible, and has filed a criminal complaint against former executives and co-founders Roberto Zibert and Joaquín Díaz, who have denied any wrongdoing. Tether had led Orionx's Series A funding round in June 2025 as part of its broader expansion into Latin America.

In Poland, lawmakers fell short of overriding President Karol Nawrocki's veto of crypto legislation designed to strengthen oversight of the country's digital asset market. The Sejm voted 241-198 to overturn the veto, with three abstentions, missing the required three-fifths majority by 25 votes. The vote comes as an investigation into collapsed exchange Zondacrypto continues to widen, with Prime Minister Donald Tusk citing witness testimony alleging payments and attempts to influence politicians tied to Poland's previous government. Zondacrypto's Estonian operator, BB Trade Estonia, was declared bankrupt in August, while Polish prosecutors probe suspected fraud and money laundering.

Meanwhile, the National Sheriffs' Association has dropped its opposition to the CLARITY Act ahead of a key Senate vote this month, shifting its position to "neutral" in a letter to Senate leaders. The group cited work by Congress, the Trump administration, and other stakeholders to address its legal and enforcement concerns, signaling a significant thaw in law enforcement resistance to the crypto market structure bill. The association said it will now "step back" and allow lawmakers to establish a regulatory framework for digital assets.