According to Ai, StablecoinX, a suspected ENA treasury, has increased its holdings by 19.23 million ENA over the past 15 hours, valued at approximately $11.8 million, with an average transaction price of $0.614. Currently, the multi-sig address holds a total of 88.26 million ENA, with a market capitalization of approximately $54 million.
James Wynn went long on ASTER and short on HYPE after receiving over $8,000 in referral rewards
According to Lookonchain, James Wynn (@JamesWynnReal) adopted a long ASTER and short HYPE trading strategy after receiving a referral reward of $8,032.5.
Falcon Finance's community sale oversubscribed to $112 million, a record high for Buildlpad
The Falcon Finance (FF) community sale has concluded, with subscriptions exceeding $112 million, reaching 2,821% of the original target and setting a new record for oversubscription on the Buildpad platform. Officials stated that settlement and refunds will be completed by 16:00 (UTC) on September 26th.
FTX Trust sues Genesis Digital for $1.15 billion investment
According to The Block, FTX Recovery Trust is suing Bitcoin mining company Genesis Digital Assets in U.S. Bankruptcy Court, alleging that former FTX CEO Sam Bankman-Fried (SBF) used commingled funds to invest $1.15 billion in the company, $550 million of which went to co-founders Rashit Makhat and Marco Krohn. The lawsuit alleges that Genesis Digital failed to provide truthful financial statements and that its valuation was significantly overstated. FTX Trust is seeking the court's recovery of the funds. SBF has been sentenced to 25 years in prison for misappropriating client assets.
Raiku Secures $13.5 Million in Funding to Promote “Predictable” Transactions on Solana
According to The Block, Web3 infrastructure startup Raiku announced the completion of a $13.5 million seed and pre-seed funding round from investors including Pantera Capital, Jump Crypto, and Lightspeed Faction. Raiku claims its tool can achieve predictable and guaranteed transaction execution by coordinating block space with Solana validators, addressing the issue of transaction uncertainty under Solana's high load. The product has launched on a testnet, with a mainnet launch planned for 2026.
The U.S. Commodity Futures Trading Commission (CFTC) is seeking feedback on the use of tokenized collateral, such as stablecoins, in derivatives markets. This request includes information on GMAC's 2024 recommendations, the CFTC's observer status on industry initiatives, pilot programs for digital asset markets, proposed regulatory revisions based on the Presidential Task Force report (pp. 52-53), and other related topics. Comments are due by October 20, 2025.
FTT surged over 30%, possibly due to SBF's post.
Perhaps influenced by SBF’s post, FTT soared by more than 30%, and the price of FTT exceeded 1 US dollar.
Tether seeks up to $20 billion in funding at a $500 billion valuation
According to Bloomberg, citing two people familiar with the matter, Tether is in talks with investors to raise $15 billion to $20 billion in a private placement, intending to sell approximately 3% of its equity. The transaction is being led by Cantor Fitzgerald. If this ratio is achieved, Tether's valuation could reach $500 billion, making it one of the world's most valuable private companies (on par with OpenAI and SpaceX). Tether's USDT market capitalization is $172 billion, with a second-quarter profit of $4.9 billion and a profit margin of 99%. The transaction is expected to close before the end of the year, and the final amount is subject to change.
According to crypto journalist Eleanor Terrett, multiple sources on Capitol Hill have reached a consensus that the September 30th market structure bill revision agenda that Republicans on the Senate Banking Committee had originally targeted can no longer actually be advanced. Democrats have not yet provided feedback on the bill, saying they hope to reach an agreement on the process before starting negotiations on the details. It is reported that the impending government shutdown will also make it almost impossible to hold a bill revision meeting on the 30th. A possible new target date is the week of October 20th, but it has not yet been determined. It is understood that since the Senate Agriculture Committee also plans to revise its bill involving the U.S. Commodity Futures Trading Commission (CFTC) in October, theoretically, this delay should not affect the possibility of submitting the bill to the Senate for review before the end of the year.
Changpeng Zhao: Sign is a company in the YZi Labs portfolio
When Zhao Changpeng retweeted the tweet about "Sign launches SIGN, a blockchain technology stack designed for sovereign states", he said: "I may have helped a little in this matter. Of course, it was just a chat, no code was written. I made some connections and introductions in several countries. Sign is a company in YZi Labs' investment portfolio (YZi Labs is a minority shareholder)." The market shows that SIGN briefly touched $0.135 and is now at $0.10508, with a 24-hour increase of 22.77%.
Avantis: 40 million AVNT rewards will be distributed in the third season
Avantis, a decentralized leveraged trading protocol built on the Base chain, announced on the X platform that it will distribute 40 million AVNT rewards in Season 3. 4% of the total supply (over $80 million) will be distributed to XP holders over the next five months. Season 3 is scheduled to end on February 28th of next year, at which time AVNT rewards will officially launch. The rewards will be distributed as follows: 25% to liquidity providers (LPs) and 75% to traders. This means that liquidity providers will receive 1% of the total AVNT supply (worth $20 million at current prices), and traders will receive 3% of the total AVNT supply (worth $60 million at current prices). The newly upgraded S3 points dashboard will be launched mid-next week.
Bubblemaps to Airdrop 30 Million BMT Tokens to Users Exposing Crypto Scams
According to The Block, blockchain analysis platform Bubblemaps has launched a new platform, Intel Desk, which will reward users who discover scams and suspicious activities with BMT tokens. Bubblemaps founder and CEO Nicolas Vaiman said that the program will distribute approximately 3% of the BMT supply, or approximately 30 million tokens, through seasonal airdrops in the first year. At current prices, this is equivalent to nearly $2 million in rewards. BMT rewards do not only come from Bubblemaps' funding pool. Vaiman said that fees collected from users who create or vote on cases will also be shared with contributors. In the long run, the platform will introduce a bounty mechanism: anyone can use BMT to fund investigations, and these bounties will be distributed to detectives who make contributions.
Scilex Holding Company (NASDAQ: SCLX), an innovative revenue-generating company, announced that it has signed a Securities Purchase Agreement ("SPA") with an institutional investor to exchange $200 million worth of common stock in its majority-owned subsidiary, Semnur Pharmaceuticals, Inc., for $200 million worth of Bitcoin. Under the SPA, the institutional investor will purchase 12,500,000 shares of Semnur common stock held by Scilex at $16 per share. Closing is expected to occur on or about September 23, 2025.
Aster surpasses Hyperliquid in revenue in the past 24 hours
Defillama data shows that Aster's revenue in the past 24 hours reached US$4.02 million, surpassing Hyperliquid's US$2.88 million.
Revolut to invest $13 billion over five years to support international expansion
British fintech company Revolut said on Tuesday it will invest $13 billion over five years to support its international expansion, aiming to compete with traditional global banks. The company said it plans to create 10,000 jobs and enter more than 30 new markets by 2030.
Fitell Corporation (NASDAQ: FTEL), a global provider of fitness equipment and wellness solutions, announced that it has secured up to $100 million in financing to support the launch of its Solana treasury, marking the first digital asset treasury based on Solana in Australia. Fitell has commenced dual listing on the Australian Securities Exchange (ASX). Following the initial launch of the Solana treasury, the company plans to change its name to "Solana Australia Corporation."
Seedify founder: A SFUND cross-chain bridge was hacked and is under investigation
Meta Alchemist, founder of Seedify, a Web3 incubator and launchpad platform, posted on the X platform that one of its SFUND cross-chain bridges was recently hacked and is currently under investigation. All relevant contracts have been audited, and the cross-chain bridge contract has been operating stably for over three years. They have contacted Layerzero and will provide updates as the investigation progresses. They will also fully cooperate with law enforcement and cybersecurity teams in tracking down the hacker. Meta Alchemist also urgently called out to @zachxbt, offering a generous reward for help locating the hacker and resolving the situation. The situation is extremely urgent, as hackers are using the cross-chain bridge to mint tokens and transfer funds stolen from the liquidity pool.
Morgan Stanley partners with Zero Hash to offer cryptocurrency trading services to E*Trade clients
According to Bloomberg, Morgan Stanley is partnering with cryptocurrency infrastructure provider Zero Hash to enable clients of online brokerage E*Trade to trade popular cryptocurrencies starting in the first half of next year. According to Jed Finn, head of wealth management at Morgan Stanley, the company will initially support Bitcoin, Ethereum, and SOL. Allowing clients to trade cryptocurrencies directly is just the first phase; the company will also develop a complete wallet solution for clients. This collaboration signals the accelerated development of digital assets by major banks following a significant shift in US regulatory policy.
Ripple’s RLUSD Stablecoin Becomes a Gateway for BlackRock and VanEck’s Tokenized Funds
According to Cointelegraph, Ripple and Securitize, a security token issuance platform, have integrated the Ripple USD (RLUSD) stablecoin into the equity fund redemption process for shares of two major crypto investment giants, BlackRock and VanEck. Ripple and Securitize have launched a smart contract that allows holders of BlackRock's USD Institutional Digital Liquidity Fund (BUIDL) and VanEck's Treasury Bond Fund (VBILL) to convert their security tokens into the Ripple USD (RLUSD) stablecoin. This smart contract allows BUIDL and VBILL investors to instantly convert their holdings into RLUSD at any time, enabling more on-chain transfers.
According to an official blog post, Coinbase announced that it will partner with Cloudflare to jointly establish the x402 Foundation, aiming to establish x402 as a universal standard for AI-driven payments. Coinbase stated that the x402 protocol is revolutionizing internet payments. By leveraging the HTTP "402 Payment Required" status code, x402 embeds payments directly into network interactions, enabling AI agents, APIs, and applications to exchange value as easily as data. This innovation eliminates the friction of traditional payment systems and paves the way for a new era of automated, scalable commerce. The x402 Foundation will focus on the following areas: 1. Governance: Establishing x402 as a neutral, open standard to encourage adoption by developers, businesses, and AI platforms. 2. Ecosystem Development: Supporting developers building on x402 by providing funding, tools, and resources. 3. Interoperability: Ensuring that x402 can operate seamlessly across different platforms, industries, and regions.
SharpLink: No ETH was purchased last week, but 509 ETH was obtained through staking rewards
SharpLink, a Nasdaq-listed Ethereum treasury company, disclosed that it received 509 ETH through staking rewards last week. This brings the total staked since the strategy launched on June 2, 2025, to 3,749 ETH. No new ETH was purchased or repurchased last week, and no press release will be issued today.
According to PR Newswire, Singapore-based startup Synthesys (formerly Equitize) announced it has secured $11 million in seed and strategic funding rounds to build infrastructure for tokenized securities. This round was led by Mark Pui. Founded in 2023, Synthesys (formerly Equitize) has developed a global liquidity network that aggregates over 40 different primary and secondary distribution channels. Its platform automates cross-jurisdictional compliance and provides a universal liquidity layer for tokenized securities.
Crypto VC firm Archetype raises $100 million for its third fund
According to Fortune magazine, crypto venture capital firm Archetype announced that its third fund has raised $100 million. The fund will focus on supporting early-stage seed rounds for blockchain companies. Archetype raised its first $55 million fund in 2021 and then raised a second $155 million fund in 2022, at the peak of the previous cryptocurrency bull market. Although Archetype's third fund is smaller at only $100 million, Egan said that choosing the right backers (i.e., limited partners) was a deliberate decision, and only one new LP was introduced.
Cloudburst Completes $7 Million Series A Funding to Expand Off-Chain Crypto Intelligence Platform
According to CoinDesk, Cloudburst Technologies announced the completion of $7 million in Series A funding, which will be used to develop its off-chain crypto intelligence platform. Borderless Capital led the round, bringing the company's total funding to $11 million since its founding in 2022. Strategic Cyber Ventures, CoinFund, Coinbase Ventures, Bloccelerate VC, and In-Q-Tel also provided additional support. The funding will be used to expand Cloudburst's artificial intelligence and data science teams, accelerate product development, and broaden its market reach among financial institutions, regulators, and crypto-native businesses. The company focuses on analyzing data sources such as chatrooms and regulatory filings to detect fraudulent networks, illicit actors, scams, and social media trends. The company states that its tools are designed to provide real-time intelligence and predictive insights to regulators, law enforcement, exchanges, investors, and other market participants. The platform collects millions of off-chain data points, including those from Telegram groups, niche forums, regulatory filings, and news sources, and applies proprietary AI models to identify emerging threats and patterns.
Ethereum treasury company FG Nexus disclosed that its ETH holdings have reached 50,000
According to Globenewswire, FG Nexus (NASDAQ: FGNX, FGNXP) announced that its ETH holdings reached 50,000 on September 22, 2025. The company implemented its ETH treasury strategy in August and has continued to increase its ETH holdings over the past month. The company's 50,000 ETH holdings are valued at approximately $210 million, with an average purchase price of approximately $3,860.
Plasma Mainnet Beta Release Imminent, On-Chain Markets to Begin First Stress Test
According to official news, with the Plasma mainnet beta release imminent, its on-chain market will undergo its first stress test, injecting a large amount of liquidity into the market within a short period of time. The primary priority is to steadily attract capital to support the long-term development of the DeFi ecosystem. The plan is as follows: First, USDT will be migrated from the Veda deposit vault to Aave in a phased manner over five days to manage fund utilization and risk. Second, high XPL incentives will be provided to the vault during this period. Third, a 48-hour cooldown period will apply to user withdrawals in the first few days of the mainnet beta launch, shortened to 24 hours after market stability. Fourth, depositors will forfeit all rewards during the cooldown period. Deposits will utilize the Veda vault to deploy stablecoins to Aave. During the mainnet beta phase, $1 billion in USDT will be bridged from the Ethereum mainnet to Plasma, and liquidity will be gradually introduced. USDT will be provided from Veda to Aave in a controlled sequence to maintain the health of the DeFi ecosystem. Supply caps will be adjusted in collaboration with risk managers, and some liquidity will be reserved to match borrowing demand. Depositors will also receive additional XPL incentives. Earlier news, last week, Plasma announced that its stablecoin blockchain will enter the "mainnet testing phase" on September 25.
STBL founder Avtar Sehra stated on the X platform that a buyback program will be launched in Q4, gradually approaching the protocol's vision of a treasury buyback. At that time, 100% of minting fees will be used for buybacks, driving the value of STBL tokens. With the launch of STBL, the following plans are in place: 1. Multi-factor staking mechanism; 2. Launch of a buyback program; 3. U launch of USST minting; 4. 100% of transaction fees will be used for buybacks and recorded publicly on-chain.
CryptoQuant: Bitcoin short-term holders are panic selling, and key support levels are facing a test
CryptoQuant analysis shows that the realized spend-output profit ratio (STH SOPR) for short-term Bitcoin holders has plummeted below 1, indicating that short-term holders are realizing losses, a classic sign of panic selling by this group. Short-term holders are not only holding losses but are also actively selling in a capitulation manner. Based on a price of $113,000 per coin, this panic selling exceeds $3.39 billion. However, Bitcoin prices are still fluctuating around the realized price (average on-chain cost price) for short-term holders, a level that historically provides support during periods of volatility. Notably, whales are also showing signs of pressure. New whales have realized losses of $184.6 million, while existing whales have realized losses of $26.3 million. Both groups are de-risking, which is negative for short-term trends. Furthermore, the short-term holder MVRV is approximately 1, meaning the average position is at break-even, but a SOPR below 1 indicates that many are selling below cost price, reflecting panic selling by those who bought high during the recent rally.
According to CNBC, cryptocurrency infrastructure startup Zerohash has completed a $104 million Series D funding round led by Interactive Brokers, with participation from financial institutions including Morgan Stanley and SoFi. Strategic investors include Zerohash clients, and Apollo's fund also participated in the round. Founder and CEO Edward Woodford revealed that the company's valuation has reached $1 billion. Founded in 2017, Zerohash provides banks and fintech companies with the capabilities to launch blockchain-based products in three core areas: cryptocurrency trading, stablecoins, and tokenization. Interactive Brokers already uses Zerohash's cryptocurrency trading and custody services and will collaborate with the company to launch a stablecoin product. While Woodford declined to comment on whether Morgan Stanley and SoFi are also clients, he hinted that relevant information will be announced soon.
Binance Alpha to List ChainOperaAI (COAI)
Binance Alpha will officially list ChainOperaAI (COAI) on September 25th. Eligible users can redeem their airdrop using Binance Alpha Points on the Alpha event page after trading becomes available. Detailed details will be announced later.
Blockchain payments company Fnality completes $136 million Series C funding round, led by WisdomTree
According to TFN, London-based blockchain payments company Fnality has completed a $136 million Series C funding round, led by WisdomTree, with participation from Bank of America, Citigroup, KBC Group, Temasek, and Tradeweb. Existing investors include Santander, Barclays, BNP Paribas, DTCC, Euroclear, Goldman Sachs, ING, Nasdaq, State Street, and UBS. Fnality is committed to using distributed ledger technology to build a regulated payment system based on central bank digital currencies to address the slow, expensive, and long cross-border settlement times of traditional wholesale payment systems. The company plans to use this round of funding to expand its pound sterling system to the US dollar and euro markets, targeting the over $120 billion cross-border payments market.
Kraken Co-CEO: No rush to advance IPO plans, will consider more acquisitions
According to DL News, Kraken co-CEO Arjun Sethi stated that while competitors Bullish and Gemini listed on the NYSE and Nasdaq, respectively, this summer, Kraken will not follow suit, emphasizing that it "will not act hastily out of fear of loss." This statement addresses previous speculation that the company was planning an IPO as early as the first quarter of 2026. As part of the industry's M&A boom, Kraken is busy acquiring smaller companies. Sethi confirmed that Kraken is still looking for acquisitions, but will not blindly pursue "widespread" deals. He also cited previous acquisitions of Breakout and NinjaTrade as strong alignments with its development path. In addition to acquisitions, Kraken is also busy launching a series of new services, expanding into custody and prime brokerage services. The company aims to have institutional investors contribute one-third of its revenue, with retail and mid-market traders contributing the remaining two-thirds, though he did not disclose how far along they are. Sethi insisted that Kraken is a distinct entity and has no intention of becoming a bank or broker. He declined to disclose the current valuation, confirming that it was valued at $15 billion before the acquisition of NinjaTrader in March, and said the company was EBITDA positive and profitable.
According to CoinDesk, Hyperliquid, once a leading player in the on-chain perpetual swaps market, is being gradually overtaken by emerging platforms such as Lighter and Aster, and its market share has declined. According to Dune data, Hyperliquid's market share of the on-chain cryptocurrency perpetual swaps market reached 71% in May of this year, but has now fallen to 38%. Meanwhile, Lighter and Aster's market shares have increased from low single-digit percentages in May to 16.8% and 14.9%, respectively. The on-chain perpetual swaps market is experiencing rapid growth. Over the past four weeks, cumulative trading volume across all platforms has reached nearly $700 billion, with $42 billion in the last 24 hours alone. The number of on-chain perpetual swaps protocols has rapidly increased from just two in 2022 to over 80 today. This growth demonstrates the vitality of the market: a thriving market attracts numerous new participants, intensifying competition and posing challenges to the market share and profitability of early entrants.
