🔮 Prediction markets, SEC listing standards, BNB hits $1k

Happy Thursday!

You’ve made it to the back half of the week, and the markets aren’t slowing down. Prediction markets are buzzing—wagering on everything from how fast Rekt drinks will sell out to whether Trump takes a trip to China in 2025.

Meanwhile, Kalshi has overtaken Polymarket to claim the top spot in global prediction market volume. Add in the SEC’s approval of new generic listing standards for Commodity-Based Trust Shares, BNB crossing $1,000 for the first time, and plenty more developments—there’s no shortage of action to unpack.

Let’s dive in!

Latest News 

Crypto’s Favorite Meme Brand Turns Drinks Into a Betting Market

Rekt’s latest sparkling water drop, “Moon Crush,” created with MoonPay, has prediction market users on Myriad wagering on whether it will sell out in under five minutes. The project—part meme coin, part NFT ecosystem, and now part beverage brand—has grown into a cultural experiment where tokens, drinks, and humor fuel each other in a self-reinforcing cycle. Read more →

DeFi Development Expands Solana Bet With $15M Token Purchase

DeFi Development Corp. added 62,745 SOL worth $14.6 million to its treasury, lifting total holdings above 2 million SOL—nearly $500 million at current prices. The company, founded by ex-Kraken employees, continues its strategy of staking Solana assets and operating validators, positioning itself among the largest Solana-focused treasury vehicles globally. Read more →

China’s Nvidia Ban Signals Turning Point in AI Chip Rivalry

Beijing has reportedly barred tech giants like ByteDance and Alibaba from purchasing Nvidia chips, a move seen as proof that domestic firms such as Huawei have reached sufficient strength to support China’s AI ambitions. While Nvidia faces billions in lost revenue, China is accelerating a shift toward homegrown processors and software ecosystems, setting the stage for a split global AI landscape. Read more →

Public Firms Amass $22B in Ethereum as Treasury Race Heats Up

Nearly 5 million ETH—worth over $22 billion—is now held by publicly traded companies, marking a rapid expansion of corporate crypto treasuries beyond Bitcoin. Leading the charge are BitMine Immersion Technologies with 2.15 million ETH, SharpLink Gaming with 838,000 ETH, and The Ether Machine with 495,000 ETH, while Coinbase, Bit Digital, ETHZilla, and BTCS round out the top seven holders. Read more →

Prediction Markets Split on Trump’s Potential 2025 China Trip

Traders on Myriad price a 48% chance that Donald Trump visits mainland China this year, while Polymarket odds lean slightly higher and Kalshi markets give a 73% chance of a Trump-Xi meeting. With reports of TikTok negotiations, extended deadlines, and Beijing invitations, prediction platforms see a state visit as a live—and highly tradable—possibility. Read more →

Backed Finance Picks Switzerland for Permissionless Tokenized Stocks

Backed Finance co-founder Adam Levi said the firm chose Switzerland as its base to issue xStocks—tokenized shares of companies like Tesla and Nvidia—because the country allows permissionless transfers instead of whitelist restrictions. The products, which function like wrappers tied to underlying equities, already count over 30,000 holders and $18 million in tokenized Tesla shares, with Levi arguing the model could see global adoption much like stablecoins. Read more →

SEC Approves Generic Listing Standards for Commodity-Based Trust Shares

The SEC has granted accelerated approval for Nasdaq, Cboe BZX, and NYSE Arca to adopt generic listing standards for Commodity-Based Trust Shares. The new rules allow exchanges to list and trade these products without separate SEC approval, provided they meet strict eligibility, disclosure, liquidity, and surveillance requirements—aimed at increasing efficiency, transparency, and investor protections while fostering competition in commodity-linked investment products. Read more →

Thumzup Media Adds $2M in Dogecoin Amid Treasury Expansion

Nasdaq-listed Thumzup Media bought 7.5 million DOGE—worth about $2 million—as part of its growing crypto treasury, which was authorized to hold up to $250 million in digital assets. The move follows plans to launch 3,500 Dogecoin mining rigs and the appointment of DogeOS executives to its advisory board, while Trump Jr. remains a notable shareholder with no active role in the firm. Read more →

Gemini Shares Sink Below IPO Price After Early Rally

Gemini Space Station, the Winklevoss-owned crypto exchange, saw its stock tumble 12.8% to $24.53—slipping below its $28 IPO price just days after debuting. The decline came amid broader weakness in crypto-linked stocks and a Fed rate cut, leaving the firm’s $2.9 billion market cap far below its 2021 private valuation of $7.1 billion. Read more →

OpenAI Balances Teen Safety, User Freedom, and AI Privacy

OpenAI outlined its principles for navigating tensions between privacy, freedom, and safety—stressing that AI conversations should receive strong protections similar to doctor-patient or attorney-client privilege. While adults will have broad freedoms in how they use ChatGPT, teen users face stricter safeguards, including limits on sensitive topics and potential parental or authority contact in cases of imminent self-harm, supported by new age-prediction systems and parental controls. Read more →

FBI Seeks SafeMoon Victim Claims After CEO Fraud Conviction

Following the conviction of SafeMoon CEO Braden Karony for fraud and money laundering, the FBI is inviting defrauded investors to submit information to aid restitution efforts. Experts caution that compensating victims will be challenging given volatile token prices, limited records, and the complexities of tracing funds, underscoring broader concerns about investor protections in DeFi. Read more →

BitGo Receives BaFin Approval to Launch Regulated Crypto Trading in Europe

BitGo has secured an extended license from Germany’s BaFin, allowing its European arm to expand from custody and staking into regulated crypto trading and OTC services for institutions. With Europe’s crypto market projected to hit $26 billion in revenue this year, the move positions BitGo to compete more aggressively amid rising institutional adoption under supportive frameworks like MiCA. Read more →

Bitcoin and Ethereum ETFs See First Net Outflows After Inflow Streak

U.S. spot Bitcoin ETFs registered $51.28 million in net outflows on September 17, ending a seven-day run of inflows. U.S. spot Ethereum ETFs also saw $1.89 million in withdrawals, led by Fidelity’s FETH with $29.19 million in outflows.

Bullish Swings to $108M Profit in First Report Since IPO

Crypto exchange Bullish posted $108.3 million in Q2 net income—up from a $116.4 million loss a year earlier—in its first earnings release as a public company. The Thiel-backed firm reported $179.6 billion in quarterly trading volume, secured a New York BitLicense, and expanded its regulatory reach in Europe and Hong Kong, though it expects lower volumes in Q3. Read more →

Australia Grants Licensing Relief for Stablecoin Intermediaries

The Australian Securities and Investments Commission (ASIC) has eased rules for intermediaries distributing stablecoins, exempting them from holding separate financial services licences if the issuer already has an AFS licence. The move, seen as a pragmatic bridge while broader reforms are finalized, aims to reduce compliance friction and foster growth in Australia’s digital payments sector. Read more →

DBS, Franklin Templeton, and Ripple Launch Tokenised Fund Trading in Singapore

DBS Group has teamed up with Franklin Templeton and Ripple to list tokenised money market fund units (sgBENJI) and Ripple’s RLUSD stablecoin on its digital exchange, enabling accredited and institutional investors to trade and earn yield between the two. The partnership aims to boost liquidity and efficiency in financial markets, with plans to let clients use sgBENJI tokens as collateral for credit transactions. Read more →

US Crypto Chief David Sacks Denies Exceeding Federal Service Limit

David Sacks, the White House’s AI and crypto czar, rejected claims from Senator Elizabeth Warren and other lawmakers that he breached the 130-day cap for special government employees, saying he carefully tracks his service days. Critics argue Sacks’ deep crypto and AI investments pose conflicts of interest, while his team insists he remains within legal limits despite 167 weekdays passing since Trump’s inauguration. Read more →

Vitalik Buterin Backs Ethereum’s Staking Exit Limits

Ethereum co-founder Vitalik Buterin compared unstaking to “a soldier deciding to quit the army,” arguing that exit queues are necessary to preserve network stability. He said allowing stakers to leave instantly would undermine Ethereum’s security, stressing that some friction in quitting is essential.

CEO Pleads Guilty in $200M Bitcoin Ponzi Scheme

Ramil Ventura Palafox, head of Praetorian Group International, admitted to running a $200 million Bitcoin Ponzi that defrauded over 90,000 investors with promises of daily returns from a fake trading program. Prosecutors said he spent millions on luxury homes, cars, and designer goods before the scheme collapsed; he faces up to 40 years in prison with $62.7 million in restitution ordered. Read more →

BNB Chain’s NGP Protocol Exploited for $2M via Oracle Manipulation

DeFi platform New Gold Protocol (NGP) on BNB Chain was hacked for about $2 million after attackers exploited its price oracle through a flash loan, tricking the system into selling tokens at artificially low prices. The stolen funds were funneled into Tornado Cash, while NGP’s token price collapsed 88%, highlighting ongoing vulnerabilities in DeFi smart contracts amid a surge in crypto hacks. Read more →

BNB Breaks $1,000 to Hit New All-Time High

Binance’s native token, BNB, surged to a record $1,000, setting a new all-time high.

CZ Warns Crypto Firms of North Korean Hacker Tactics

Binance founder Changpeng Zhao cautioned that North Korean groups are targeting crypto projects using four key methods: fake job applications, malware-laced code “updates,” malicious support ticket links, and bribery of insiders. He urged companies to boost employee training, vet candidates rigorously, and avoid downloading unverified files to reduce exposure.

Upbit Lists Lombard (BARD) on KRW, BTC, and USDT Markets

Upbit announced trading support for Lombard (BARD), launching on September 18 at 22:15 KST across KRW, BTC, and USDT pairs, with initial reference prices set at 1,580 KRW, 0.00000971 BTC, and 1.13 USDT. Deposits and withdrawals are supported via Ethereum, with temporary trading restrictions in place at launch; BARD powers governance, staking, and incentives in the Lombard ecosystem, which enables Bitcoin liquid staking (LBTC) and DeFi integrations. Read more →

Tether Cofounders Launch STBL for Yield-Sharing Stablecoins

STBL, a new protocol from Tether’s founders, splits tokenized assets into a stablecoin (USST) and a yield-bearing NFT (YLD), letting depositors—not issuers—retain returns while meeting GENIUS Act compliance standards. Its governance token debuted with a valuation surge to $1.3 billion, with a $100 million BENJI mint and U.S. partnerships planned before a Q4 2025 public launch. Read more →

Woori Bank and BDACS Launch South Korea’s First Won-Backed Stablecoin On Avalanche

BDACS and Woori Bank introduced KRW1, South Korea’s first fully regulated won-backed stablecoin on Avalanche, with plans to expand to remittances, payments, and public-sector use cases like emergency relief. The launch comes amid Asia’s growing stablecoin race, as Japan, China, and regional rivals push forward with their own national currency-pegged tokens under evolving regulatory frameworks. Read more →

Bitcoin Firm CEO Pleads Guilty to $200M Ponzi Scheme

Praetorian Group International CEO Ramil Ventura Palafox admitted to running a $200 million Bitcoin Ponzi scheme that defrauded more than 90,000 investors with false promises of daily returns up to 3%. He faces up to 40 years in prison and $62.7 million in restitution after prosecutors revealed he spent millions in investor funds on luxury cars, homes, and designer goods. Read more →

Pudgy Penguins’ PENGU Token Surges as Traders Bet on More Gains

The Pudgy Penguins-linked Solana meme coin PENGU spiked over 10% to $0.037, with Myriad prediction markets giving it a 34% chance of hitting $0.05 soon. Despite flat NFT floor prices, momentum is fueled by Bullish’s earnings report spotlighting Pudgy’s Walmart toy sales and mobile game launch, while ETF approval odds for PENGU have plunged to just 8.4%. Read more →

BOE Holds Rates Steady Amid Inflation Concerns

The Bank of England kept interest rates at 4% in a 7–2 vote, warning that future cuts will be “gradual and careful” as inflation risks remain elevated despite progress in easing wage pressures. Policymakers also slowed bond sales after gilt market volatility, with traders now seeing little chance of another cut this year and only modest easing expected by 2026. Read more →

Kevin Durant Regains Access to Long-Lost Bitcoin Wallet

NBA star Kevin Durant has finally recovered access to a cryptocurrency wallet he lost track of nearly a decade ago after investing in bitcoin during his early days with the Golden State Warriors. Durant’s longtime business partner Rich Kleiman said the wallet, linked to Coinbase, sat untouched for years—potentially holding millions—before they were able to re-enter it this week. Read more →

Japanese Firm Boosts Bitcoin Reserves with New Acquisition

Tokyo-based Remixpoint has added 77.15 BTC to its balance sheet, raising its total holdings to 1,350 BTC. The Japanese publicly traded company continues to expand its cryptocurrency position amid growing corporate interest in digital assets. Read more →

Bitfinex-Backed Plasma to Launch Mainnet with $2B Liquidity and XPL Token

Plasma, a new Layer 1 blockchain built for stablecoin payments, will debut its mainnet beta on September 25 alongside its native token, XPL. Backed by Bitfinex, the network launches with over $2 billion locked, 100+ DeFi integrations, and a focus on zero-fee USDT transfers, aiming to become a leading “stablechain” in the competitive market. Read more →

Laos Turns to Crypto Mining to Monetize Surplus Hydropower

Facing mounting debt and an oversupply of electricity from its dam projects, Laos is moving into cryptocurrency mining as a way to generate economic value. The government has begun licensing local exchanges and mining operations, seeking to channel cheap hydropower into bitcoin production while capturing tax revenue, though critics warn of environmental costs and financial risks. Read more →

Kraken Partners with Legion to Launch Curated Token Sales Platform

Crypto exchange Kraken has teamed up with ICO platform Legion to debut Kraken Launch, a venue for hosting high-profile token sales that will later list on Kraken. The partnership aims to blend Legion’s underwriter-style model with Kraken’s exchange reach, offering curated token offerings with compliance checks, reserved allocations for Legion Score holders, and broader public access. Read more →

DeFi Development Corp. Expands Treasury Strategy to Back Global Digital Asset Treasuries

DeFi Development Corp. (Nasdaq: DFDV), the first public company with a Solana-focused treasury model, will begin deploying $5 million to $75 million per deal into Digital Asset Treasuries (DATs) through its Treasury Accelerator program. Investments, funded in cash or SOL, aim to compound returns into further SOL purchases, reinforcing the company’s strategy of growing its Solana holdings while supporting the broader DeFi ecosystem. Read more →

First U.S. Dogecoin ETF Hits the Market Under Ticker DOJE

The REX-Osprey DOGE ETF (DOJE), the first U.S. exchange-traded fund to directly track Dogecoin, began trading Thursday, offering investors regulated exposure to the leading memecoin. Launched alongside an XRP ETF, the fund is structured under the Investment Company Act of 1940, allowing active management, and signals Dogecoin’s shift from internet joke to mainstream financial product. Read more →

Pixelverse Expands From Telegram to Base and Farcaster With Web3 Gaming

Pixelverse, known for its viral Telegram tap-to-earn game, is launching Pixelverse Arcade on Ethereum L2 Base and debuting Storychain, an AI-powered collaborative storytelling game on Farcaster. The shift brings deeper Web3 features—NFT collectibles, PIXFI token rewards, and native wallet integration—aiming to capture a more crypto-native audience than Telegram could offer. Read more →

Cameron Winklevoss Hails SEC’s ‘Project Crypto’ as Tokenisation Revolution

Gemini co-founder Cameron Winklevoss praised new SEC chair Paul Atkins for pushing Project Crypto, a deregulatory initiative aimed at moving U.S. equities and other financial assets onchain. Calling tokenisation “groundbreaking,” Winklevoss said the shift could “jailbreak” stocks, commodities, and currencies from siloed systems into unified blockchain-based super apps. Read more →

Coinbase Rolls Out Onchain USDC Lending With Yields Up to 10.8%

Coinbase has launched an onchain USDC lending feature, offering yields as high as 10.8% through the decentralized protocol Morpho, with vaults curated by Steakhouse Financial on Base. Unlike its lower-yield “USDC Rewards” program, this service routes deposits into lending pools via smart contracts, giving users direct access to DeFi while maintaining a streamlined experience in the Coinbase app. Read more →

Grayscale Wins SEC Nod for Multi-Crypto ETF Tracking XRP, Solana, and Cardano

Grayscale’s Digital Large Cap Fund (GDLC), which holds Bitcoin, Ethereum, XRP, Solana, and Cardano, has secured SEC approval to list on the New York Stock Exchange after a regulatory pause in July. Set to begin trading Friday, GDLC will be the first U.S. exchange-traded product offering diversified exposure across multiple major cryptocurrencies, marking a milestone in the industry’s regulatory evolution. Read more →

Aptos Integrates PayPal’s PYUSD0 Stablecoin via LayerZero and Stargate

Aptos Labs announced that PayPal’s PYUSD0 stablecoin is now live on its blockchain, making Aptos the Move-based launch partner for the asset. With $70 billion in monthly stablecoin volume already on the network, the integration aims to drive PYUSD0 adoption in real-world payments through Aptos’ fast, low-cost infrastructure.

Kalshi Overtakes Polymarket to Lead Global Prediction Market Volume

Prediction platform Kalshi has surged to 62.2% of global market share with $1.3 billion in September trading volume, eclipsing rival Polymarket’s $773 million. Once a minor player, the U.S.-regulated exchange is now dominating the space, highlighting rising demand for event-based wagering as both firms eye billion-dollar valuations. Read more →

Dogecoin Surges as First U.S. DOGE ETF Shatters Day-One Trading Forecasts

Dogecoin jumped 8% after the Rex-Osprey DOJE ETF posted nearly $6 million in first-hour trading volume—well above analyst expectations. The strong debut, paired with CleanCore Solutions’ new Dogecoin treasury holdings, has fueled momentum for the meme coin, which has climbed 34% over the past month. Read more →

Brera Rebrands as ‘Solmate’ With $300M Solana Treasury, Stock Soars 500%

Brera Holdings, a Nasdaq-listed sports ownership firm, is pivoting to a Solana-focused digital asset treasury under the new name Solmate after raising $300 million from backers including Ark Invest and the Solana Foundation. The announcement sent its shares surging 500%, positioning the company among the largest public holders of Solana as it builds crypto infrastructure in the UAE while continuing its sports operations. Read more →

Elizabeth Warren Presses DOJ on Binance Settlement and Zhao Pardon Talks

Sen. Elizabeth Warren criticized the Trump DOJ for failing to answer questions about Binance’s compliance with its 2023 settlement and possible discussions over a pardon for co-founder Changpeng Zhao, who pled guilty to money laundering charges. Warren, joined by Sens. Mazie Hirono and Richard Blumenthal, warned that reports of Binance seeking to bypass its compliance monitor heighten concerns over the exchange’s U.S. obligations and ties to the Trump administration. Read more →

PayPal Expands PYUSD Stablecoin to Tron, Avalanche, Sei and More via LayerZero

PayPal’s PYUSD stablecoin is extending to seven new blockchains—including Tron, Avalanche, and Sei—through LayerZero’s Stargate Hydra bridge, with a new permissionless version called PYUSD0 ensuring full fungibility with native PYUSD. The move, which follows earlier integrations with Solana and Arbitrum, aims to boost adoption across DeFi and payments while maintaining 1:1 redemption for U.S. dollars. Read more →

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