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Macro

Spot gold breaks through the $3,760 mark, setting a new high

Spot gold prices continued to rise, breaking through $3,760 per ounce to reach a new high. Market expectations are that the Federal Reserve will further cut interest rates, and investors are closely watching Fed Chairman Powell's speech on the economic outlook tomorrow morning.

The Hong Kong Security Bureau has established a virtual asset intelligence task force to work with relevant platforms to establish a payment stop mechanism.

According to Hong Kong's TVB News, Hong Kong Security Secretary Chris Tang Ping-keung stated that fraud cases involving virtual assets have increased. The Security Bureau has established a Virtual Asset Intelligence Task Force and is working with virtual asset platforms to establish a "stop payment mechanism" for these scams. Tang added that some scams previously involved bank transfers, but are now being processed through virtual asset platforms. Virtual asset service providers must have mechanisms in place. If a fraud case is discovered and funds are still held on a virtual asset platform, the platform should, like the banking system, halt the disbursement of funds and initiate a stop payment.

Societe Generale chooses Bullish Europe to launch its USD stablecoin

According to CoinDesk, FORGE, the crypto subsidiary of French bank Société Générale, has selected Bullish Europe as the first exchange to list its US dollar stablecoin, CoinVertible (USDCV). USDCV is already listed on Ethereum and Solana and is regulated by the EU's MiCA. Due to pending US regulations, USDCV is not currently available to US users. FORGE is continuously expanding the number of exchanges and brokers that can directly mint and burn the stablecoin, with 10 to 15 currently in the queue.

Trump will speak at the UN leaders' meeting at 7:20 a.m. tomorrow.

White House: Trump will speak at a UN leaders' meeting at 7:20 p.m. Eastern Time on Tuesday (7:20 a.m. Beijing Time on Wednesday).

The three major U.S. stock indexes all closed at new highs, and Nvidia's market value approached $4.5 trillion

At the close of U.S. stocks on Monday, the Dow Jones Industrial Average initially closed up 0.14%, the S&P 500 rose 0.44%, and the Nasdaq rose 0.7%, all reaching new closing highs. Tesla (TSLA.O) rose nearly 2%, Apple (AAPL.O) rose over 4%, and Nvidia (NVDA.O) rose nearly 4%, with a market capitalization of $4.46 trillion.

Viewpoint

KOL revealed: There is overlap in members between the Plasma team and the Blast team

According to KOLs Crypto Fearless and Rui, there is overlap between the Plasma and Blast project teams. Crypto Fearless stated that after Blast founder Pacman (Chinese name Tieshun) fell out with the original team, other key members moved on to create Plasma. Rui stated that the overlap between Plasma and Blast team members is well-known within the industry. He believes that Blast's ecosystem points system has performed well, serving as a model for many projects to emulate, and that the poor pricing is more a problem with the founders than the team's capabilities.

Bank of Thailand: Cryptocurrency trading may affect the Thai baht

Bank of Thailand: Cryptocurrency trading may affect the Thai baht.

YZi Labs is considering opening up to external investors in the future

According to the Financial Times, YZi Labs, an investment firm managed by Binance co-founder Changpeng Zhao (CZ), which manages approximately $10 billion, is considering opening up to external investors in the future. The firm currently invests primarily in cryptocurrency, AI, and biotech, with funding provided by Zhao and early Binance executives. Head of the fund, Ella Zhang, stated that once the team has gained sufficient experience in AI and biotech, they will consider transitioning to an external fund. YZi Labs previously received $300 million in external investment, which was partially returned.

Project News

ChainOpera AI (COAI) will be available on Binance Alpha and Binance Futures on September 25th

According to Binance, ChainOpera AI (COAI) will be available for trading on Binance Alpha and Binance Futures platforms on September 25, 2025. The specific timeframes are as follows: Binance Alpha: 3:00 PM (Beijing Time) on September 25, 2025; Binance Futures: 3:30 PM (Beijing Time) on September 25, 2025. COAIUSDT perpetual contracts will be supported, with up to 50x leverage.

Anoma (XAN) Binance Alpha and Futures Platform Listings Delayed to September 29th

According to the official announcement of Binance, the trading time of Anoma (XAN) token on Binance Alpha and Binance Futures platforms, which was originally scheduled to be launched on September 23, 2025, will be postponed to September 29, 2025. The specific time is as follows: Binance Alpha: September 29, 2025, 18:00 (Beijing Time) Binance Futures: September 29, 2025, 18:30 (Beijing Time)

Aevo Pre-Launch Platform Launches Monad Token Trading

According to official news from Aevo, the Monad token, MON, has been launched on the Aevo Pre-Launch platform. According to data from the Aevo platform, MON is currently trading at $0.0496.

Binance Wallet to Launch ZEROBASE Token Presale and Booster Event on September 24th

According to an official Binance announcement, Binance Wallet will exclusively host a pre-sale (Pre-TGE) for the ZEROBASE token (ZBT) from 4:00 PM to 6:00 PM (Beijing Time) on September 24th, along with a Booster Program to support the project's early development. Eligible users will have priority access to tokens and will be able to participate in an airdrop reward of 3% of the total token supply by completing tasks. The pre-sale will be oversubscribed, with each user able to deposit up to 3 BNB. The final allocation will be based on the proportion of the subscribed amount.

Binance: Users holding at least 200 Binance Alpha Points can claim 3,200 BLESS tokens airdrop

Binance announced that Alpha trading for Bless (BLESS) will begin at 5:00 PM (UTC+8) on September 23, 2025. After trading begins, users holding at least 200 Binance Alpha Points will be eligible to claim an airdrop of 3,200 BLESS tokens. This airdrop will be available on a first-come, first-served basis. The minimum score will automatically decrease by 15 points every hour until the event ends. Claiming the airdrop will cost 15 Binance Alpha Points. Users must confirm their claim within 24 hours on the Alpha event page; otherwise, they will forfeit the airdrop.

Binance HODLer Airdrop to List Hemi (HEMI)

Binance announced the launch of the 43rd HODLer airdrop for Hemi (HEMI), a modular Layer 2 protocol powered by Bitcoin and Ethereum. Users who subscribe to guaranteed or on-chain earning products using BNB between September 17th and 20th will receive a total of 100 million HEMI airdrops, representing 1% of the total supply. HEMI trading will open on September 23rd at 8:00 PM on USDT, USDC, BNB, FDUSD, and TRY. The initial circulating supply of HEMI is 978 million, representing approximately 9.78% of the total supply. HEMI supports both the BNB chain and the Ethereum network, and airdropped tokens will be automatically distributed to users' spot wallets before the spot listing.

World Liberty Financial to launch debit card and retail app

According to The Block, World Liberty Financial co-founder Zak Folkman stated at Korea Blockchain Week that the project will soon launch its own debit card and retail app, allowing users to integrate the USD1 stablecoin and its app with Apple Pay. Folkman emphasized that World Liberty Financial will not issue its own blockchain and will remain chain- and platform-neutral. The project has already issued the WLFI token and the USD1 stablecoin, aiming to connect traditional finance with on-chain markets.

Hyperliquid Community Proposes 45% Cut in Total HYPE Supply

Jon Charbonneau, co-founder of DBA (a large position), and Hasu, head of strategy at Flashbots, proposed revoking the Future Community Rewards (FECR) authorization to issue unissued HYPE, destroying all HYPE held and subsequently acquired by the Assistance Fund (AF), and removing the maximum supply cap of HYPE at 1 billion. This proposal would immediately reduce the total HYPE supply by over 45% and optimize the protocol's financial structure without impacting the rights of existing holders or the protocol's ability to fund its operations.

Rainbow proposes to acquire Clanker Protocol and announces token distribution plan

The Rainbow Foundation proposed acquiring the Clanker protocol and announced a token distribution plan: SCLANKER holders will receive 4% of the total supply of Rainbow's new token, SRNBW (approximately 20% of the circulating supply of TGE); all Clanker treasury assets will be airdropped to SCLANKER holders; and LP fees generated by the Clanker protocol will be permanently distributed to SCLANKER holders. Rainbow pledged to integrate Clanker into its product ecosystem and provide SRNBW rewards for related transactions. Clanker responded that it had informed Rainbow last week that it would not accept the acquisition, citing a disagreement between the two parties.

Rainbow plans to launch RNBW token for non-custodial crypto wallets in Q4

According to The Block, the non-custodial wallet Rainbow announced plans to launch its native RNBW token on its EVM-compatible wallet by the end of the year. Officials stated that this move is part of the "Phase 3" roadmap, and that user points accumulated previously will be used for subsequent incentives. Rainbow also recently upgraded its real-time price, balance updates, and price charting features, and introduced contract trading powered by Hyperliquid. MetaMask and Coinbase have also previously announced plans to issue native tokens.

Coinbase Adds Centrifuge and TROLL to Listing Roadmap

According to Coinbase Markets, Coinbase today added Centrifuge (CFG) and TROLL (TROLL) to its asset listing roadmap.

Base Chain receives Vitalik's endorsement, emphasizing L2 security and non-custodial properties

jesse.base.eth echoed paulgrewal.eth's point, elaborating that the Sequencer of Layer 2 blockchains like Base is solely responsible for collecting and sorting user transactions and submitting the results in batches to the Ethereum mainnet for settlement. Sequencers do not have the ability to match buys and sells or trades; the relevant logic is implemented by smart contracts. The team stated that Base has achieved the first phase of decentralization and is working on further distributed blockchain construction. Vitalik Buterin stated that as an Ethereum Layer 2, Base leverages its centralized nature to enhance the user experience while relying on Ethereum's decentralized foundation for security. Base does not hold user funds and cannot steal or block withdrawals. Its security mechanisms have been verified by the L2beat platform. Vitalik added that users can automatically withdraw funds when L2 is shut down, and that the operator cannot unilaterally censor or steal assets.

21Shares Spot Dogecoin ETF Launches on DTCC, TDOG

According to Watcher.Guru, 21Shares' spot Dogecoin ETF has been launched on the Depository Trust & Clearing Corporation (DTCC) with the stock code TDOG.

Important data

Space ID transferred 20 million IDs to the Yzi Labs address, worth approximately $3.064 million

According to on-chain monitoring by ai_9684xtpa, Space ID transferred another 20 million ID tokens to an address associated with Yzi Labs today, three months after the previous transfer, with a total value of approximately $3.064 million. Yzi Labs, Space ID's seed round investor, has received a total of 100 million ID tokens from the project since September 2024, with a total value of approximately $27.81 million. Currently, the ID tokens held at this address are its largest asset.

Ethena Labs' stablecoin products USDe and USDtb TVL exceed $16 billion

According to official news from Ethena Labs, the total locked value (TVL) of its stablecoin products, Ethena USDe and USDtb, continues to grow, now exceeding $16 billion, setting a new record high. This follows news yesterday that Binance launched a USDe rewards program with an annualized yield of up to 12%.

Bitcoin spot ETFs saw a net outflow of $363 million yesterday, while none of the 12 products saw a net inflow.

According to SoSoValue data, on September 22nd, US Eastern Time, Bitcoin spot ETFs saw a total net outflow of $363 million, with none of the 12 products recording net inflows. Fidelity FBTC saw a net outflow of $277 million on the day, with a historical net inflow of $12.385 billion. Ark Invest and 21Shares' ARKB saw a net outflow of $52.2967 million, with a historical net inflow of $2.174 billion. As of now, the total net asset value of Bitcoin spot ETFs is $148.088 billion, accounting for 6.59% of Bitcoin's total market capitalization, with a historical net inflow of $57.354 billion.

Hackers sold UXLINK tokens through 6 wallets, cashing out approximately $28.1 million in ETH

According to Lookonchain analysis, the UXLINK project was hacked, with the hacker stealing 490 million UXLINK and minting an additional 2 billion. The hacker sold a large amount of UXLINK on decentralized exchanges (DEXs) through six wallets, cashing out 6,732 ETH (approximately $28.1 million) and continuing to sell on centralized exchanges (CEXs).

Financing/Acquisition

Nvidia plans to invest $100 billion in OpenAI, with an initial investment of $10 billion

According to Bloomberg, Nvidia will invest up to $100 billion in OpenAI to support next-generation AI data centers and related infrastructure. The two parties have signed a letter of intent, with an initial investment of $10 billion, followed by phased investments calculated based on the amount of capacity deployed. The project plans to build data centers with at least 10 gigawatts of computing power, using advanced Nvidia chips. Nvidia will also acquire a stake in OpenAI.

Bullish Announces $4 Million Investment in USD.AI

Bullish (NYSE: BLSH), a digital asset trading platform, announced the completion of a $4 million investment in USD.AI, its first investment since its IPO in August. USD.AI provides an on-chain platform for AI infrastructure financing, has secured $250 million in private beta deposits , and supports AI companies in scaling their computing capabilities through a hardware mortgage model.

On-chain music platform Coop Records completes $4.5 million in funding, with participation from 1kx and others

Coop Records, an on-chain music platform, announced the completion of two rounds of funding, totaling $4.5 million. Led by 1kx and Nascent, this round included participation from 1confirmation and CB Ventures through the Base Ecosystem Fund. The funds will be used to advance the development of Coop Records' music launch platform.

Crypto neobank Shield completes $5 million seed round led by Giant Ventures

Cryptocurrency neobank Shield announced Monday that it has closed a $5 million seed funding round led by Giant Ventures. Other participants in the round included Chris Dixon's a16z crypto startup accelerator, Factor Capital, and strategic angel investors Coinbase and Bank of America. The company said it has raised $7 million to date.

Institutional holdings

StablecoinX, a suspected ENA treasury company, hoarded over 73 million ENA in a week.

According to Ember, an address suspected to be the ENA Treasury (StablecoinX) has been withdrawing and hoarding 73.56 million ENA from exchanges since the 16th, worth approximately $43.88 million. Funds from this address have been transferred to and from Maven 11 and Dragonfly, both of which are investors in the ENA Treasury.

Solana Vault Forward Industries to On-Chain Equity via Superstate Platform

According to The Block, Forward Industries, Solana's largest digital asset vault, announced that it will tokenize its FORD shares on-chain through Superstate's Opening Bell platform. Forward, backed by Galaxy Digital, Jump Crypto, and Multicoin Capital, previously raised $1.65 billion in a private placement in September. Forward will partner with Solana ecosystem lending protocols Drift, Kamino, and Jupiter Lend, with FORD tokens becoming a new collateral option. Forward also plans to take an equity stake in Superstate to drive product development for both parties.

CleanSpark Secures $100 Million in Bitcoin-Collateralized Credit from Coinbase Prime

According to CoinDesk, Bitcoin mining company CleanSpark announced it has secured a $100 million Bitcoin-collateralized credit line from Coinbase Prime. CleanSpark stated it will use the line to expand its energy assets, expand its Bitcoin mining operations, and invest in its high-performance computing (HPC) business. The company claims this move avoids the need to sell Bitcoin or issue additional shares, enabling non-dilutive financing and increasing shareholder value.

Blast: Mobile platform and token economics updates to be announced next month

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