Today's news tips:
1. U.S. stock market closed: The three major stock indexes rose and fell, and Gemini soared 14.29% on its first day of listing.
2. Bloomberg Analyst: REX-Osprey Dogecoin ETF listing postponed to next week
3. Tether CEO: The company is launching a US-based stablecoin called USAT
Polymarket plans to return to the US and seek new funding, with a valuation expected to reach $10 billion.
5. Galaxy Digital bought approximately $1.16 billion of SOL in the past three days, most of which has been placed in custody
6. WisdomTree launches its first tokenized fund, providing investors with exposure to private credit investments
7. Ark Invest increased its holdings in Bullish by approximately $1.77 million and Figma by $4.53 million.
8. Arthur Hayes: The bull market will continue into next year, and Trump will stimulate the economy by the middle of next year
Macro
Massachusetts Attorney General Charges Prediction Market Kalshi with Violating Sports Betting Laws
According to Coindesk, Massachusetts Attorney General Andrea Joy Campbell filed a lawsuit alleging that the prediction market operator Kalshi violated Massachusetts gambling laws. The filing alleges that Kalshi's proposed sports betting contracts in January 2025 violated the state's sports betting law, which requires operators to hold a license. Campbell is asking the court to enjoin Kalshi from operating the unlicensed sports prediction market in the state and is seeking financial and other relief.
At the US stock market close on Friday, the Dow Jones Industrial Average initially closed down 0.59%, the S&P 500 fell 0.05%, and the Nasdaq rose 0.44%. Tesla (TSLA.O) rose 7.36%, Oracle (ORCL.N) fell over 5%, and Apple (AAPL.O) rose 1.76%. Cryptocurrency trading platform Gemini Space Station (GEMI.O) closed up 14.29% on its first day of listing.
Project News
Bloomberg analyst: REX-Osprey Dogecoin ETF listing postponed to next week
Bloomberg ETF analyst Eric Balchunas said on the X platform that the REX-Osprey Dogecoin ETF (code DOJE) has been postponed again and is expected to be listed in the middle of next week (probably Thursday).
Binance HODLer Airdrop Now Available: Boundless (ZKC), the 39th Airdrop
According to the official announcement, Binance HODLer Airdrop has now launched the 39th project – Boundless (ZKC), a general-purpose ZK protocol that enables blockchain to achieve internet scale.
Between 08:00 AM on September 2, 2025, and 07:59 AM on September 6, 2025 (GMT+8), users who subscribe to guaranteed principal earning (fixed and/or demand) or on-chain earning products using BNB will receive an airdrop. HODLer airdrop information is expected to be available within 24 hours, and new tokens will be distributed to users' spot wallets at least one hour before trading begins.
Binance will list ZKC at 20:00 (GMT+8) on September 15, 2025, and will open trading pairs against USDT, USDC, BNB, FDUSD, and TRY. Seed-based trading rules will apply. ZKC deposits will open at 20:00 (GMT+8) on September 12, 2025.
*Please note that ZKC will be listed and traded during the Binance Alpha event (time to be announced separately), but will no longer be displayed on Binance Alpha after spot trading opens.
Tether CEO: The company is launching a US-based stablecoin called USAT
According to Jinshi, Tether’s CEO said that the company is launching a US-based stablecoin called USAT.
Tether to Appoint Bo Hines as CEO of Tether USAT
Tether today unveiled its planned USAT, a US-regulated, dollar-backed stablecoin, and announced the appointment of Bo Hines as future CEO of Tether USAT. USAT will be designed to comply with the recently enacted GENIUS Act. USAT will utilize Tether's Hadron technology, with Anchorage Digital serving as the GENIUS Act-compliant issuer. The two parties are collaborating to provide Tether USAT with a solution for issuing a fully regulated digital dollar. The new token will leverage Tether Group's global distribution network. Cantor Fitzgerald will serve as the designated reserve custodian and a preferred primary dealer.
Bo Hines brings legal, business, and policy expertise to the role of USAT CEO. As an entrepreneur and former Executive Director of the White House Cryptocurrency Commission, he has been active at the intersection of governance, law, and financial innovation. His appointment underscores Tether's commitment to launching USAT under U.S. leadership and a clear understanding of U.S. regulatory priorities.
Coinbase will upgrade all MATIC tokens to POL from October 14th to 17th
According to an official announcement from Coinbase, Polygon PoS has upgraded its token from MATIC to POL. Coinbase will convert all Polygon (MATIC) tokens (including staked assets) to the Polygon Ecosystem Token (POL) from October 14th to 17th. During the migration period, rewards for staking Polygon (MATIC) will not accumulate.
According to Cointelegraph, people familiar with the matter revealed that prediction market Polymarket is exploring a return to the US market while seeking new financing, a round that could more than triple its $1 billion valuation from June. Reports indicate one investor has valued the company at as much as $10 billion. Polymarket raised $200 million in June, led by Peter Thiel's Founders Fund, an early backer of companies like OpenAI, Paxos, and Palantir.
Viewpoint
Gemini predicts Bitcoin will reach $1 million in 10 years
According to CNBC, Tyler Winklevoss, co-founder of the crypto exchange Gemini, said: "We believe Bitcoin is gold 2.0. If Bitcoin can replace gold, we are still in the 'first half of the first game' because we expect it to trade at $1 million per coin. From the current price, Bitcoin still has at least 10 times of room to rise. We are still in the very early stages. In 10 years, we will look back and say, 'Wow, it was too early.' Almost no one listened back then. Hopefully, more people will listen today. We have come a long way."
Investigation: Half of PancakeSwap's 'Random' Winners Appear to be Related
According to Cointelegraph, a trading competition hosted by PancakeSwap, which claimed to randomly award winners, revealed that blockchain records reveal that approximately half of the 1,700 winning wallets were linked. This was the second such event, where investors earned points by trading tokens from five Binance Alpha sponsors (League of Traders, Bedrock DAO, MilkyWay, NodeOps, and Moonveil) on PancakeSwap. The event description stated that winners who reached a three-tier trading volume threshold would enter a "random lucky draw." However, the media outlet discovered that at least 850 winning wallets were funded by other winning wallets, who transferred BNB to each other, traded the sponsors' tokens, and then repeated the process with the next wallet. A League of Traders representative stated that these wallets were directly linked and selected, making the probability of this happening repeatedly almost zero.
Regarding the community's concerns that AI could be tricked and phished in extremely stupid ways, thereby leaking data, Ethereum co-founder Vitalik said on the X platform, "AI governance is not a good idea. If you use AI to allocate donated funds, people will use jailbreak tools as much as possible. As an alternative, I support information finance, an open market where anyone can contribute their models, which will be subject to a spot check mechanism that can be triggered by anyone and evaluated by human juries."
In an interview with Kyle Chasse, BitMEX co-founder Arthur Hayes stated that Bitcoin holders need to be more patient and stop worrying about stocks and gold hitting all-time highs, as questioning why Bitcoin isn't rising completely misses the point. "If you think you bought Bitcoin and the next day bought a Lamborghini, you're probably going to get liquidated because that's not the right way to think about it. I'm sorry you bought Bitcoin six months ago, but anyone who bought Bitcoin two, three, five, or 10 years ago wouldn't think that way. People need to recalibrate their perspective on this issue."
According to CoinMarketCap data, Bitcoin prices continue to fall below their all-time high of $124,100 reached on August 14th. Meanwhile, gold and the S&P 500 index reached record highs of $3,674 and $6,587, respectively, this week. Hayes downplayed the significance of these highs relative to Bitcoin and refuted questions about when Bitcoin and the crypto market will begin to attract global M2 inflows, arguing that the premise of the question is flawed. "When considering currency devaluation, Bitcoin remains the best store of value."
In an interview with Kyle Chassé, BitMEX co-founder Arthur Hayes said that large-scale money printing has not yet begun and the current bull market may continue until next year. He also predicted that US President Trump will promote economic stimulus measures in mid-2026. Politicians are afraid of change, and investors underestimate the potential for asset growth, and they have not yet reached the final stage.
Important data
An early HYPE whale sold about 67,000 HYPEs again, and its total profit has exceeded US$57 million.
According to Lookonchain monitoring, the early HYPE whale address 0x7dac once again sold 67,006 HYPE (worth US$3.82 million) to cash out profits.
The whale purchased 1.26 million HYPE at an average price of $7.52 (costing $9.51 million) and received an additional 22,270 HYPE at the time of the token's genesis issuance.
Subsequently, it sold 385,513 HYPEs at an average price of $41.9 (cashing out $16.15 million), and currently still holds 900,663 HYPEs (worth $50.5 million).
The whale's total profit has now exceeded US$57 million.
After nine months, a certain address deposited 25,754 ETH to Binance, worth $117 million.
According to on-chain analyst @ai_9684xtpa, the address 0xdE0...fDc41 deposited 25,754 ETH worth $117 million to Binance again after nine months. If it was sold, it would have been fully liquidated.
This address has frequent interactions with block builders Beaver Builder and Titan Builder, and has transferred a total of 45,132 ETH to exchanges in the past two years.
Four whales recently sold a total of $29.33 million worth of HYPE to take profits
According to Lookonchain monitoring, as the price of HYPE rose, whales began to take profits.
0x746b (qianbaidu.eth) sold 188,861 HYPE (worth $10.58 million) at an average price of $56.01 in the past 4 hours.
0x7be1 sold 175,000 HYPE (worth $9.75 million) at an average price of $55.72 in the past four days.
0x0e41 sold 113,310 HYPE (worth $6.32 million) at an average price of $55.74 in the past three days.
0xe867 sold 50,000 HYPE (worth $2.77 million) at an average price of $55.53 in the past 20 hours.
According to Lookonchain monitoring, Galaxy Digital purchased nearly 5 million SOL (worth $1.16 billion) in the past three days, of which 4,719,937 SOL (worth $1.11 billion) have been transferred to Coinbase Prime custody. Its wallet still holds 219,830 SOL (worth $53.5 million).
According to SoSoValue data, yesterday (September 12, Eastern Time), the total net inflow of Bitcoin spot ETFs was US$642 million.
The Bitcoin spot ETF with the largest single-day net inflow yesterday was the Fidelity ETF FBTC, with a single-day net inflow of US$315 million. Currently, the total historical net inflow of FBTC has reached US$12.627 billion.
The second is Blackrock ETF IBIT, with a single-day net inflow of US$265 million. Currently, the total net inflow of IBIT has reached US$59.778 billion.
As of press time, the total net asset value of the Bitcoin spot ETF was US$153.178 billion, the ETF net asset ratio (market value as a percentage of the total market value of Bitcoin) reached 6.62%, and the historical cumulative net inflow has reached US$56.831 billion.
According to SoSoValue data, yesterday (September 12, US Eastern Time), the total net inflow of Ethereum spot ETFs was US$406 million.
The Ethereum spot ETF with the largest single-day net inflow yesterday was the Fidelity ETF FETH, with a single-day net inflow of US$168 million. The current historical total net inflow of FETH has reached US$2.859 billion.
The second is Blackrock ETF ETHA, with a single-day net inflow of US$166 million. The current historical total net inflow of ETHA has reached US$12.886 billion.
As of press time, the total net asset value of the Ethereum spot ETF was US$30.352 billion, the ETF net asset ratio (market value as a percentage of Ethereum's total market value) reached 5.38%, and the historical cumulative net inflow has reached US$13.363 billion.
Ark Invest Tracker tweeted that Cathie Wood's Ark Invest increased its holdings of 34,746 Bullish shares (worth approximately $1.77 million) and 85,535 Figma shares (worth approximately $4.53 million) on September 11.
Financing/Acquisition
According to Bloomberg, WisdomTree Inc. has launched its first tokenized fund, providing investors with exposure to private credit investments. The WisdomTree Private Credit and Alternative Income Digital Fund (CRDT), officially launched on Friday, tracks an equally weighted index of 35 closed-end funds, business development companies, and real estate investment trusts. The company already launched an ETF based on this benchmark in 2021.
The tokenized fund has a minimum investment of $25 and is redeemable within two days. CRDT tracks an index of publicly available investment instruments tied to private credit, lowering barriers to entry and increasing liquidity, but still creating a barrier between investors and the underlying loans. WisdomTree's CRDT fund will be tokenized on the Ethereum and Stellar blockchains at launch, with plans to expand to other blockchains, such as Avalanche, in the coming weeks.
Institutional holdings
Publicly listed company Mega Matrix discloses its first purchase of $3 million worth of ENA tokens
According to PR Newswire, Mega Matrix Inc. (MPU), a NYSE-listed company, announced that it has completed its first strategic acquisition of approximately $3 million worth of ENA tokens based on the previous day's volume-weighted average price (VWAP). Over the past two weeks, the company acquired 3.86 million ENA tokens at an average cost of $0.7117 per token, including all fees and transaction costs. This transaction marks the initial implementation of its DAT strategy for its stablecoin governance token.
According to Globenewswire, the official corporate branch of the Dogecoin Foundation, House of Doge, announced that the official Dogecoin Treasury established in cooperation with CleanCore Solutions (NYSE American: ZONE) as part of its strategic acquisition plan has accumulated more than 500 million Dogecoins.
This progress marks a key halfway point towards its first milestone goal of acquiring 1 billion Dogecoins within 30 days.
According to Businesswire, Allied Gaming & Entertainment, Inc. (NASDAQ: AGAE), a global experiential entertainment company, announced that it has made initial investments in Bitcoin and Ethereum as part of its corporate financial management strategy. This move marks the first step in bringing cryptocurrencies onto the company's balance sheet and lays the foundation for AGAE's broader blockchain and RWA tokenization initiatives. However, the company did not disclose its specific holdings.
According to Globenewswire, music, entertainment and technology company LiveOne (NASDAQ: LVO) disclosed that its Bitcoin holdings have increased to more than $5 million.
According to Globenewswire, Nasdaq-listed health sciences company Prenetics Global Limited, which employs a Bitcoin treasury strategy, released its unaudited second-quarter financial results, revealing revenue of $17.7 million, a 594.9% increase compared to the second quarter of 2024. Adjusted liquid assets reached $90.3 million, including $63.5 million in cash. Furthermore, as of September 10, 2025, Prenetics Global Limited held 228.42 Bitcoins, valued at $26.1 million, and currently has no debt. The company stated that it has initiated a daily programmatic Bitcoin accumulation program (one BTC per day) since August 1, 2025, funded by its own operating funds.
