Here’s what happened in crypto today

Today in crypto, Tether-backed Chilean exchange Orionx began shutting down after an audit uncovered a more than $7 million custody shortfall. Polish lawmakers failed to overturn President Karol Nawrocki’s veto of crypto legislation as the Zondacrypto investigation widens, while the National Sheriffs’ Association dropped its opposition to the CLARITY Act ahead of a key Senate vote.

Tether-backed Orionx to shut down after audit flags $7M custody gap

Tether-backed Chilean crypto exchange Orionx is permanently shutting down after a forensic audit found more than $7 million in customer assets had moved to wallets outside its custody.

Orionx said withdrawals are temporarily suspended as it works to return as much of clients’ assets as possible. The exchange has filed a criminal complaint against former executives and co-founders Roberto Zibert and Joaquín Díaz, who have denied wrongdoing.

The alleged transfers occurred between 2018 and 2021, according to local reports. Tether led Orionx’s Series A funding round in June 2025 as part of its expansion into Latin America.

Poland upholds crypto bill veto as Zondacrypto scandal widens

Polish lawmakers failed to overturn President Karol Nawrocki’s veto of crypto legislation aimed at strengthening oversight of the country’s digital asset market.

The Sejm voted 241-198 to override the veto, with three abstentions, falling 25 votes short of the required three-fifths majority.

The vote comes as an investigation into collapsed crypto exchange Zondacrypto expands. Prime Minister Donald Tusk cited witness testimony alleging payments and attempts to influence politicians linked to Poland’s previous government.

Zondacrypto’s Estonian operator, BB Trade Estonia, was declared bankrupt in August, while Polish prosecutors are investigating suspected fraud and money laundering connected to the exchange.

Shariffs drop opposition to CLARITY Act

The National Sheriffs’ Association has dropped its opposition to the CLARITY Act ahead of a key Senate vote this month, removing one source of law-enforcement resistance to the crypto market structure bill.

The group changed its position to “neutral” in a letter to Senate leaders, citing work by Congress, the Trump administration and other stakeholders to address legal and enforcement concerns. The association said it would now “step back” and allow lawmakers to establish a regulatory framework for digital assets.

That marks a significant shift. The sheriffs’ group previously warned that provisions exempting some crypto mixers from registration requirements could make it harder for law enforcement to trace transactions and recover stolen funds. In July, one sheriff said the legislation protected “the crypto industry, not the public.”

The House passed the CLARITY Act in July 2025, but the bill has since faced disputes over stablecoin rewards, tokenized equities and potential conflicts involving President Trump’s family. Senate Majority Leader John Thune filed for a cloture vote on Sept. 15.

Meanwhile, the SEC and CFTC have signaled they could move ahead with parts of crypto regulation even if Congress fails to pass the legislation.