- Popular CEX Cryptocurrencies
Top 10 CEX Trading Volumes and 24-Hour Price Changes:
- ETH: + 2.97%
- BTC: + 1.29%
- SOL: + 3.28%
- DOGE: + 5.43%
- XRP: + 1.45%
- WLD: - 11.66%
- HOLO: New Coin
- BNB: + 1.51%
- DOLO: + 1.45%
- LINEA: + 2.13%
24-Hour Price Increase Rankings (Data Source: OKX):
- NMR: + 19.11%
- KMNO: + 18.98%
- ETHFI: + 10.63%
- YGG: + 10.5%
- ONDO: + 9.43%
- PENDLE: + 8.1%
- MEME: + 7.85%
- BIO: + 6.84%
- CFG: + 6.55%
- DEGEN: + 6.31%
Headlines
Odaily Planet Daily reports that major domestic internet companies may gradually withdraw from cryptocurrency-related businesses, and several state-owned enterprises and Chinese banks in Hong Kong may also be absent from the ongoing stablecoin license applications in Hong Kong.
Earlier reports indicated that other banks in Hong Kong, including Chinese banks, intended to apply to become the first batch of stablecoin issuers in Hong Kong, but due to recent policy shifts, previously active participants like Chinese banks may adjust their strategies.
Insiders revealed that the stablecoin business in Hong Kong has just begun, and its future direction is still unclear. Excessive participation from Chinese institutions may lead to risk transfer, so it is advisable to isolate risks first and not rush to participate.
BlackRock Plans to Tokenize Funds Holding Real-World Assets and Stocks
Odaily Planet Daily reports that after the success of the Bitcoin ETF, BlackRock plans to tokenize its funds that hold real-world assets and stocks and place them on the blockchain.
Odaily Planet Daily reports that Yi Lihua stated: "Consistent with my views, I am optimistic about ETH's continued bullish trend after the fluctuations. ETH has risen from over 1000, and the pattern is that every 1000 increase is followed by a period of consolidation before continuing to rise. Additionally, in diversified investments, except for ENA, none have outperformed ETH. Overall, it is better to concentrate on ETH than to diversify."
Industry News
Gemini Raises $425 Million in IPO, Selling Approximately 15.2 Million Shares at $28 Each
Odaily Planet Daily reports that Bloomberg cites insiders saying that cryptocurrency company Gemini Space Station Inc. (referred to as Gemini) raised $425 million through its initial public offering (IPO), with its offering price above the proposed range and a reduced offering scale.
Insiders, who requested anonymity due to non-disclosure of information, stated that Gemini, led by billionaire twins Winklevoss, sold approximately 15.2 million shares at $28 each on Thursday, while the proposed price was between $24 and $26 per share. Earlier reports indicated that the company informed investors that it planned to set the IPO base scale limit at $425 million due to a double-digit oversubscription.
The prospectus shows that Nasdaq has agreed to privately subscribe to $50 million worth of shares at the IPO price. Gemini will reserve up to 10% of the IPO shares for long-term users, management, employees, and family and friends, and allocate up to 30% of the shares to retail investors participating through self-directed investment platforms like Robinhood Markets Inc., SoFi Technologies Inc., and Webull Corp.
SharpLink Gaming Receives $379 Million in Stablecoins, May Continue to Purchase ETH
Odaily Planet Daily reports that on-chain analyst Yu Jin monitored that SharpLink Gaming received $379 million in stablecoins within the past 45 minutes, subsequently transferring these funds to Galaxy Digital's OTC wallet, possibly preparing to continue purchasing ETH through Galaxy Digital.
Sharps Technology Partners with Pudgy Penguins for Strategic Collaboration on Solana Assets
Odaily Planet Daily reports that Sharps Technology announced a strategic partnership with the Web 3 brand Pudgy Penguins to jointly promote the exposure and connection of the Solana digital asset library. Recently, Sharps Technology acquired over 2 million SOL through PIPE financing, valued at over $400 million. After the collaboration, Pudgy Penguins' IP will be deeply integrated with Sharps' Solana asset library, providing new participation opportunities for institutional and retail users. Pudgy Penguins has previously collaborated with NASCAR, Walmart, and submitted a PENGU ETF application to Canary. (PR Newswire)
Odaily Planet Daily reports that Microsoft (MSFT.O) and OpenAI announced on Thursday that they have signed a non-binding agreement regarding new terms of their relationship, which will allow OpenAI to advance its restructuring plan to become a for-profit company. The two companies did not provide further details on the new business arrangements but stated that they are working to finalize the terms of the final agreement.
A memo from OpenAI's current non-profit board chair, Bret Taylor, indicates that OpenAI will control the company through holding $100 billion in shares of a public benefit corporation and will have decision-making authority over the company. (FT)
Ant Group Announces Establishment of Ant Chain Trust Company
Odaily Planet Daily reports that according to official news, Ant Group and Longxin Technology Group jointly announced the establishment of "Ant Chain Trust," which will provide product services such as green asset management and dynamic rating pricing based on core technologies like blockchain, IoT, and AI, building a full-chain service platform covering "asset on-chain - data aggregation - asset management - rating pricing."
Project News
Avalanche Plans to Raise $1 Billion to Establish Crypto Asset Reserve Companies
Odaily Planet Daily reports that the Avalanche Foundation is in talks with investors to establish two crypto asset reserve companies in the United States, with a total funding target of approximately $1 billion. The funds will be used to purchase millions of Avax tokens at a discount. The first company, led by Hivemind Capital, plans to raise $500 million through private financing from a Nasdaq-listed company, with Anthony Scaramucci participating as an advisor; the second company, initiated by Dragonfly Capital, aims to raise $500 million and is expected to complete in October. Both companies will purchase low-priced Avax from the Avalanche Foundation.
Odaily Planet Daily reports that USDH Tracker data shows that about three-quarters of Hyperliquid validators have voted on the proposal for USDH issuance rights, with 53.39% of validators choosing to support Native Markets, 12.78% choosing Paxos Labs, 8.26% choosing Ethena, and the other four competing issuers receiving no votes.
Meanwhile, in the Polymarkert real-time betting pool, Native Markets' winning probability has risen to 97%.
Odaily Planet Daily reports that the WLFI governance interface shows that the proposal on "Using 100% of WLFI treasury liquidity fees for buyback and burn" has started voting. This proposal requires that all fees generated from the WLFI protocol's own liquidity (only including fees generated from liquidity controlled by WLFI, while fees from community or third-party liquidity providers are unaffected) be used to buy back WLFI on the open market and permanently burn it. The proposal voting will end on September 19, with the current support rate at 99.6%.
Scroll DAO Governance Paused, Leadership Resigned This Week
Odaily Planet Daily reports that Earndrop member Olimpio announced on the X platform that Scroll DAO governance has been suspended today. The DAO leadership has resigned, but the current governance proposals remain online and ongoing. According to representatives at the meeting, the team stated they are "redesigning governance," but there is no clear plan yet, and there is still controversy over whether proposals regarding current treasury management will be executed.
Monad Co-Founder: The Initial Total Supply of Monad's Native Gas Token is 10 Billion
Odaily Planet Daily reports that Monad co-founder Keone Hon revealed that the initial total supply of the native gas token for the Monad blockchain network will be 10 billion.
Ethereum Co-Founder: LINEA Token Holders Will Enjoy Future Additional Token Rewards
Odaily Planet Daily reports that Ethereum co-founder Joseph Lubin disclosed that holding LINEA tokens will provide users with more reward opportunities, primarily distributed in the form of other tokens. These rewards will come from Consensys and its partner agreements. It is reported that MetaMask and Linea are jointly developing new projects to promote the development of the Linea token economy.
Holding LINEA tokens is seen as a symbol of community membership, and the quantity and duration of holdings will directly affect the scale of potential future rewards.
Pendle Launches AI Agent Tool Pulse Focused on PT Yield Optimization
Odaily Planet Daily reports that Pendle has partnered with Giza to launch the AI agent tool Pulse. Pulse is a PT portfolio optimizer that helps users reallocate funds to optimal markets 24/7, manage expiration cycles, and automatically compound returns.
Aster: Airdrop Check Window Now Open
Odaily Planet Daily reports that Aster officially announced on the X platform that the airdrop checker is now live, covering over 137,000 wallets.
0 G Labs Announces Token Name as 0 G
Odaily Planet Daily reports that crypto AI startup 0 G Labs announced that the name of its native token is 0 G. Zero Gravity (0 G) is the core token of the decentralized AI operating system (DeAI OS) and is also an AI Layer 1.
Investment and Financing
Odaily Planet Daily reports that Bitplanet, South Korea's first institutional Bitcoin vault company, announced the completion of a $50 million acquisition of SGA Co., Ltd., officially completing the management transition and brand rebranding. This transaction involves a 62% equity acquisition, with the investment consortium including Sora Ventures, Parafi Capital, and KCGI, along with an additional $10 million investment from UTXO Management and Kingsway Capital. Bitplanet aims to become one of the top ten enterprise-level Bitcoin holders globally and promote South Korea as a core hub of the international Bitcoin ecosystem.
Odaily Planet Daily reports that Multicoin Capital co-founder Kyle Samani stated on X that in addition to Multicoin Capital's joint lead investment in Forward Industries, he personally invested $25 million.
Previously, Nasdaq-listed Forward Industries (NASDAQ: FORD) officially announced that it has secured a total of $1.65 billion in cash and stablecoin commitments to launch a SOL-centric digital asset treasury strategy through a PIPE transaction (private financing for public companies). This financing is led by Galaxy Digital (NASDAQ: GLXY), Jump Crypto, and Multicoin Capital, with one of the company's largest existing shareholders, C/M Capital Partners, participating.
Odaily Planet Daily reports that according to the U.S. SEC, the board of directors of Chinese fashion e-commerce platform Mogujie (NYSE: MOGU) has approved a strategic asset allocation plan to allocate up to $20 million of company assets to digital currencies, primarily including Bitcoin, Ethereum, and Solana, as well as related securities and investment products.
The board believes that by integrating digital assets into its core assets, the company can not only diversify its capital reserves but also enhance its operational capacity to support next-generation AI products and services. The board has authorized Chairman Chen Qi to determine the timing and amount of digital currency acquisitions.
DeFi Studio Solido Completes $800,000 Financing, Led by Supra and Others
Odaily Planet Daily reports that DeFi studio Solido has completed $800,000 in financing, led by Supra and Cashaa, with participation from HELLO Labs, Spartan Ventures, and K 10 Capital. The funds raised will be used to drive Solido's product expansion, security audits, deep integration with the Supra tech stack, and community-driven developer adoption.
Regulatory Policies
U.S. August Adjusted CPI Monthly Rate at 0.4%, Expected 0.30%, Previous Value 0.20%
Odaily Planet Daily reports that the U.S. August adjusted CPI monthly rate is at 0.4%, the highest since January, exceeding the market expectation of 0.3% and the previous value of 0.20%.
After CPI Release, Probability of Fed Cutting Rates by 50 Basis Points in September Rises to 10.9%
Odaily Planet Daily reports that according to CME's "FedWatch": the probability of the Fed cutting rates by 25 basis points in September is 89.1%, while the probability of a 50 basis point cut is 10.9%. The probability of the Fed cumulatively cutting rates by 25 basis points in October is 4.3%, with a cumulative cut of 50 basis points at 84.4%, and a cumulative cut of 75 basis points at 11.3%. (Before the CPI release, the probability of a 25 basis point cut in September was 92%, and a 50 basis point cut was 8%. The probability of a cumulative 25 basis point cut in October was 21.2%, a cumulative 50 basis point cut was 72.6%, and a cumulative 75 basis point cut was 6.2%). (Jin Ten)
Odaily Planet Daily reports that the Hong Kong Monetary Authority issued a consultation draft for a new module CRP-1 "Classification of Crypto Assets" in the "Banking Regulatory Policy Manual" (SPM) to the local banking industry on September 8, aiming to further clarify regulatory guidelines for the new bank capital rules on crypto asset regulation set to be implemented in early 2026 by the Basel Committee on Banking Supervision.
The new rules categorize crypto assets into two groups, each further divided into two subgroups (Group 1a, Group 1b, Group 2a, Group 2b). According to the revised Hong Kong "Banking (Capital) Rules," Group 1a includes tokenized traditional assets, while Group 1b includes stablecoins with effective stabilization mechanisms; Group 2 assets include all unbacked crypto assets such as Bitcoin and Ethereum, as well as any tokenized traditional assets and stablecoins that do not meet classification criteria, further subdivided into 2a (limited recognition for hedging) and 2b (unrecognized for hedging) groups through a set of recognized hedging criteria. (Caixin)
Voices
Odaily Planet Daily reports that Variant Chief Legal Officer Jake Chervinsky stated on X that there are currently no so-called "GENIUS-compliant" stablecoins.
Much of the debate has focused on whether existing stablecoins comply with GENIUS, but in reality, the bill itself does not provide specific rules for issuers on how to comply—it merely sets an overall framework, with details to be filled in by regulators through rule-making. Rule-making is a massive undertaking, and until these rules are completed, it is impossible to determine whether a stablecoin is compliant.
The formulation of rules is not a trivial matter, nor is there anyone who can delay it—GENIUS will actually need to wait 120 days after the rules are finalized to become effective law, with the expected determination date being July 18, 2026, which means the anticipated effective date for GENIUS is November 15, 2026. Until then, stablecoins will continue to operate under the regulatory frameworks of the past one, five, and ten years.
STIX Founder: "AVAX Treasury" is Another Suspicious Lock-up Token Exit Plan
Odaily Planet Daily reports that Taran, the founder of the over-the-counter trading platform STIX, stated on X that the treasury plan for Avalanche (AVAX) is another suspicious lock-up token exit plan.
Previously, it was reported that the Avalanche Foundation plans to establish two cryptocurrency reserve companies in the United States, with a total fundraising target of approximately $1 billion. The two companies will purchase discounted AVAX from the Avalanche Foundation.
Cryptotesters Founder: Has Contacted Pantera, Willing to Acquire All of Their FLUID Positions
Odaily Planet Daily reports that Lito Coen, founder of Cryptotesters and growth director at Socket, stated on X that he hopes someone can help contact Pantera Capital and is willing to acquire all of the FLUID positions they are selling in a way that has minimal market impact.
Lito Coen added, "There is no problem with Pantera Capital selling their fully unlocked tokens from their 2019 investment; they also need to fulfill their investment commitments to LPs. I just want to provide an alternative exit method with less impact." He later stated that he has contacted Pantera Capital, but the outcome of the negotiations is currently unclear.
Trader Eugene: Has Closed SOL Long Position
Odaily Planet Daily reports that trader Eugene Ng Ah Sio stated in his personal channel that he has closed his SOL long position, claiming that this investment has resulted in a small victory.
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