🔥 XRP surges as Nvidia invests, Ethereum upgrades

GM!

We’ve made it to Friday, and the markets aren’t cooling down just yet. XRP is absolutely on fire, launching its first U.S. Spot ETF on Thursday with a blazing $38 million in inflows—the strongest ETF debut of the year. The token is also dominating globally, topping Thailand’s asset performance rankings for nine consecutive months and soaring 390% year-over-year in August, outpacing gold, Bitcoin, and equities, according to the Thai SEC.

Meanwhile, Intel stock surged 23% after it was announced that Nvidia will invest $5 billion into the company to manufacture AI chips, and Ethereum’s long-awaited Fusaka upgrade is officially scheduled for a December 3 mainnet launch.

Let’s dive into all the details and more in today’s edition!

Latest News 

Michael Saylor Reports 17% Annual Return, Dividend Set for Sept. 30

Michael Saylor announced that Strategy delivered a 17% annual return, with shareholders scheduled to receive a dividend payout on September 30, 2025. The update highlights continued momentum in the firm’s performance and shareholder distributions.

Intel Soars 23% After $5B Nvidia Deal to Build AI Chips

Nvidia is investing $5 billion in Intel and partnering to co-develop custom CPUs and PC chips that integrate Nvidia’s AI technology, sending Intel’s stock up 23%. The alliance, which follows a Trump administration bailout, positions Intel to regain relevance in AI computing while giving Nvidia deeper access to x86 systems, creating a powerful U.S. chipmaking bloc against China. Read more →

PumpFun Surpasses $100M in PUMP Token Buybacks Since July

PumpFun has repurchased over $100 million worth of its native PUMP token in less than three months, marking a major milestone for the project’s buyback program.

Myriad Prediction Markets Heat Up Around XRP, Bitcoin Dominance, and OpenSea Token

Traders on Myriad are betting heavily on XRP climbing to $4, giving it 60% odds amid ETF momentum, while odds for Bitcoin dominance dropping to 53% have also risen as expectations grow for more crypto ETF approvals. Meanwhile, a fresh market on OpenSea’s long-awaited SEA token sees a 63% chance of launch before December, with tokenomics details due in early October. Read more →

XRP Rises as First U.S. Spot ETF Posts $25M in Early Trading

XRP climbed to $3.11 after the Rex-Osprey XRP ETF launched Thursday, racking up nearly $25 million in volume within 90 minutes—five times more than XRP futures ETFs managed on their first day. The strong debut, alongside a Dogecoin ETF launch, underscores surging demand for altcoin exposure as traders bet XRP could break past $4 to set a new all-time high. Read more →

Kalshi Hits $1B Monthly Volume as State Lawsuits Challenge Legality

Prediction market Kalshi now commands 62% of global volume with over $1 billion traded in August, driven by its push into sports-related contracts. But regulators in Massachusetts, Maryland, Nevada, and New Jersey are suing the platform, alleging its event markets amount to unlicensed sports betting, setting up a potential legal battle that could reach the Supreme Court. Read more →

Nubank to Pilot Stablecoin Payments With Credit Cards in Latin America

Nubank vice-chairman Roberto Campos Neto revealed the bank will begin testing stablecoin integration for credit card transactions, aiming to bridge digital assets with traditional banking. The move comes as stablecoin adoption accelerates across Latin America, where dollar-pegged tokens like USDT and USDC increasingly serve as a hedge against inflation and a medium for everyday payments. Read more →

Paper Argues Bitcoin-Settled Prediction Markets Could Outperform Stablecoin Models

A new paper by Fedor Shabashev suggests that denominating prediction markets in Bitcoin, rather than stablecoins like USDC, could preserve BTC holders’ exposure to long-term appreciation while aligning better with crypto-native communities. While BTC-settled markets face challenges such as volatility, liquidity design, and regulatory uncertainty, the analysis argues they may offer efficiency and stronger incentives in cases like long-dated political bets or jurisdictions with unstable fiat. Read more →

Canada Seizes C$56M in Crypto as Police Shut Down TradeOgre Exchange

Canadian authorities seized Bitcoin, Ethereum, XRP, Litecoin, and other assets worth C$56 million after taking down the crypto exchange TradeOgre for failing to follow anti–money laundering rules. The RCMP said most of the platform’s funds were linked to criminal sources, with investigators now analyzing transaction data as charges may follow. Read more →

EigenCloud Jumps 25% on Google Cloud Partnership for AI Payments

EigenCloud’s EIGEN token surged after announcing a deal with Google Cloud to integrate blockchain verifiability into AI-driven payments through the new Agent Payments Protocol (AP2). The collaboration adds a trust layer for AI agents to securely transact across blockchains, positioning EigenCloud as a key player in the fast-growing agent-to-agent payments market. Read more →

Tristan Thompson Launches On-Chain Basketball Fandom Platform on Somnia

NBA champion Tristan Thompson is partnering with Somnia to debut basketball.fun, an on-chain platform launching in October that tokenizes NBA players’ value in real time based on performance and fan sentiment. Built on Somnia’s high-speed blockchain, the project aims to gamify fandom by letting supporters assemble rosters, speculate on talent, and earn rewards—without relying on a native token. Read more →

Trump Family Boost Helps American Bitcoin Hit $6.7B Valuation Despite Smaller Scale

American Bitcoin, spun off from Hut 8 earlier this year, has surged to a $6.7 billion market cap—nearly rivaling Marathon Digital—despite having far less computing power and Bitcoin reserves. Analysts say a “Trump premium,” fueled by Eric and Donald Trump Jr.’s minority stakes and the company’s patriotic branding, has driven retail demand and positioned the miner to access cheaper public-market financing. Read more →

Avalanche Rallies as Network Activity and DAT Anticipation Drive AVAX Higher

Avalanche’s AVAX token has surged 20% in the past week to $34.8, its highest level since January, fueled by rising DEX volumes and speculation around a planned $1 billion digital asset treasury raise. The network processed $12 billion in DEX volume in August, with total value locked doubling over six months, signaling renewed momentum across the ecosystem. Read more →

Avalanche DEX Volumes

ZKsync-Based Hybrid DEX GRVT Raises $19M to Expand CeDeFi Platform

GRVT, a hybrid decentralized exchange on Ethereum’s ZKsync network, has secured $19 million in Series A funding co-led by ZKsync and Further Ventures, with backing from EigenCloud and 500 Global. Positioned as the first licensed onchain CeDeFi exchange, GRVT will use the capital to scale product offerings across spot, options, RWAs, and cross-chain trading while pursuing regulatory licenses in multiple jurisdictions. Read more →

Consensys CEO Hints MetaMask Token Launch May Be Imminent

Consensys CEO Joe Lubin confirmed that a native MetaMask token is in the works and suggested it could launch “sooner than you would expect.”

Trust Wallet Unveils New Roadmap, Puts TWT at Center of Billion-User Vision

Trust Wallet announced a bold new roadmap aiming to onboard one billion users by 2030, positioning its utility token TWT as the engine driving everyday finance, advanced trading, and earning opportunities. Already the world’s leading self-custody wallet with over 210 million installs, Trust Wallet plans to expand features like gas-less transactions, pro trading tools, and staking rewards—while deepening its role as a launchpad within the Binance ecosystem.

Upbit Lists ETHFI, RESOLV, INIT, and SPK on BTC and USDT Markets

Upbit announced new trading support for EtherFi (ETHFI), Resolv (RESOLV), Inisia (INIT), and Spark (SPK), with deposits opening today and trading set to begin at 3 p.m. KST on September 19. The assets span Ethereum and Initia networks and bring exposure to liquid staking (ETHFI), decentralized stablecoins (RESOLV), modular Layer 1 infrastructure (INIT), and DeFi liquidity services (SPK). Read more →

U.S. Ethereum and Bitcoin Spot ETFs See Strong Inflows With No Outflows

On September 18, U.S. Ethereum spot ETFs recorded $213 million in net inflows, while U.S. Bitcoin spot ETFs added $163 million. None of the 21 ETFs across both assets reported outflows, signaling broad investor demand.

Aster Explodes Post-TGE With $1B+ TVL and 330K New Wallets

Within 24 hours of its token generation event, ASTER surged 1,650%, driving $310M in trading volume and $1.5B in platform activity. Net inflows pushed TVL past $1B, up $660M in a day, with nearly 330,000 new wallets joining the network. Binance Alpha also launched.

EU Targets Crypto Oversight and Pension Reform by 2026

The EU plans to expand pension savings and grant more authority to its Paris-based regulator for crypto oversight as part of a new "Savings and Investments Union" initiative. The move aims to deepen capital markets, improve retail participation, and address cross-border risks amid growing global competition. Read more →

Ethereum Sets Fusaka Upgrade for December 3 Mainnet Launch

Ethereum developers confirmed the Fusaka upgrade schedule, with testnets starting October 1 and mainnet activation set for December 3. The upgrade will boost blob capacity in two post-launch phases, scaling from 6/9 to 14/21 blobs per block.

Michigan Advances Bill to Establish State Bitcoin Reserve

After seven months of stagnation, Michigan lawmakers have advanced a bill that would allow the state to allocate up to 10% of its reserve funds into Bitcoin, positioning it alongside early adopters like Texas and Arizona. Supporters argue the move could safeguard taxpayer money, set a precedent for neighboring states, and mark a broader shift as U.S. states and even Congress explore formal Bitcoin reserve strategies. Read more →

XRP Extends Dominance in Thailand as Offshore Yuan Stablecoin Launches in Kazakhstan

XRP has topped Thailand’s asset performance rankings for nine straight months, soaring 390% year-on-year in August and outpacing gold, Bitcoin, and equities, according to the Thai SEC. Meanwhile, Kazakhstan’s AnchorX launched a stablecoin pegged to the offshore Chinese yuan for Belt and Road payments, Shanghai executed its first court-approved crypto liquidation with seized Filecoin, and South Korea’s upcoming parliamentary audit will focus on stablecoins instead of exchange scandals.. Read more →

Scroll DAO Restructures Governance, Shifts Oversight to Foundation

Ethereum Layer 2 project Scroll announced a major governance overhaul, with its DAO set to report to the Scroll Foundation, which will step back from daily operations while retaining veto authority. The restructuring aims to speed up decision-making, introduce new councils, and implement a revised constitution by early 2026, while assuring users that funds and protocol security remain unaffected. Read more →

Binance Launches JoJoWorld and Dill Tokens in New Listings

Binance Wallet opened subscription for JoJoWorld (JOJO) during its TGE Phase 38 on September 19, with 32 million tokens set aside for future events. Shortly after, Binance Alpha introduced Dill (DL), marking two fresh token launches within the same day.

Stablecoin Startups Secure Record Funding Amid $1 Trillion Supply Forecast

Stablecoin firms have raised $537 million so far in 2025, a five-fold jump from last year, as landmark U.S. legislation and surging demand fuel investor confidence. With Circle’s IPO success, OSL Group’s $300 million raise, and Wall Street banks eyeing their own tokens, analysts predict the stablecoin market could surpass $1 trillion in supply by 2028 despite pushback from traditional lenders. Read more →

Sky Investors Race to Convert $323M in Maker Tokens Before Penalties Begin

Sky, formerly Maker, is pushing holders to swap legacy MKR governance tokens for its new SKY token ahead of a looming penalty set to start September 22. While major investors have already converted 82% of MKR, around $323 million in tokens remain unconverted, leaving tens of thousands of smaller holders at risk of gradual losses if they delay. Read more →

Bank of Canada Urges Federal Oversight as Stablecoin Use Grows

The Bank of Canada is calling for national regulation of stablecoins, warning that adoption is accelerating while the country risks losing competitiveness without clear rules. Officials highlighted stablecoins’ potential to lower costly remittances and modernize payments, but stressed they must match bank-level safety before scaling widely. Read more →

Pump.fun’s PUMP Leads Meme Coin Sell-Off Amid Sector Pullback

Pump.fun’s token dropped 9.2% in 24 hours, sparking a broader 4.8% decline across the $87.2 billion meme coin market as Dogecoin, PEPE, BONK and others also slid. Despite the slump, PUMP remains up 142% in the past month, while altcoins like Immutable’s IMX rallied on ETF approvals and new gaming partnerships. Read more →

IG Group Buys Australian Exchange in $117M Push Into Asia-Pacific Crypto

FTSE 250-listed IG Group will acquire a 70% stake in Independent Reserve for $72 million, with the option to buy the rest in later years, valuing the exchange at about $117 million. The deal, pending approval in Australia and Singapore, extends IG’s regulated crypto reach beyond the UK and U.S. while giving it a foothold in the fast-growing Asia-Pacific market. Read more →

Kraken Expands Tokenized Equities via Trust Wallet Partnership

Kraken has teamed up with Trust Wallet to make Backed’s xStocks accessible to its 200 million users, enabling cross-chain trading of 60 tokenized equities with fiat on-ramps. While the exchange touts borderless access, regulatory limits mean xStocks remain unavailable in major markets like the U.S., U.K., Canada and Australia, despite already generating $4 billion in trading volume. Read more →

YZi Labs Deepens Backing of Ethena as USDe Expansion Accelerates

YZi Labs, formerly Binance Labs, is boosting its investment in Ethena Labs to grow the adoption of USDe across centralized and decentralized platforms, with plans to extend into BNB Chain and launch new products USDtb and Converge. Ethena’s total value locked has surged past $13 billion, underscoring rapid momentum. Read more →

ZOOZ Power Soars After $180M Raise and Bitcoin Treasury Shift

Shares of Nasdaq- and Tel Aviv–listed ZOOZ Power jumped as much as 262% after investors approved a $180 million private placement and plans to allocate most proceeds toward a Bitcoin treasury. The move positions ZOOZ to join the top 50 public BTC holders, making it the first dual-listed U.S. and Israeli company to hold Bitcoin on its balance sheet. Read more →

EU’s MiCA Faces Early Strains as Regulators Diverge on Passporting

The EU’s Markets in Crypto-Assets framework was designed to unify the bloc with a single license, but diverging national interpretations in countries like France, Italy, and Austria are raising fears of regulatory arbitrage. While large firms benefit from easier market access, smaller startups warn the compliance burden may be overwhelming, testing whether Europe can apply MiCA consistently across 27 regulators. Read more →

SEC Chair Signals Flexibility on Ending Quarterly Company Reports

SEC Chairman Paul Atkins said investors and banks should help determine how often public companies report earnings, as regulators advance President Trump’s push to move beyond quarterly disclosures. While no timeline has been set, Atkins suggested the cadence of reporting could shift to reflect market demands rather than rigid federal rules. Read more →

Fairness Concerns Cloud Hyperliquid Stablecoin Contest After Native Markets’ Win

Native Markets won Hyperliquid’s vote to issue an official dollar-pegged token with over 68% support, but critics allege the team had a head start and tacit backing from Hyper Labs and key validators—citing on-chain timing, rapid proposal submission, and a perceived preference over more experienced bidders. With no public responses from Native Markets or Hyperliquid to the allegations, the controversy threatens the protocol’s reputation even as it cements its status as the leading on-chain futures venue. Read more →

U.S. Treasury Opens Comment Period on GENIUS Act Stablecoin Rules

The Treasury Department has launched an early rulemaking process to implement the GENIUS Act, seeking industry input on sanctions compliance, custody of reserves, tax treatment, and state vs. federal oversight. The one-month comment window, closing October 20, marks the first step in shaping formal stablecoin regulations under President Trump’s pro-crypto agenda. Read more →

Treasury B.V. Boosts Bitcoin Holdings to 1,111 BTC, Eyes Amsterdam Listing

Euro-denominated Bitcoin treasury firm Treasury B.V. has added 111 BTC, bringing its total to 1,111 BTC and placing it among the world’s top 45 corporate holders. Backed by Winklevoss Capital and Nakamoto, the company has raised $147 million to date and is pursuing a reverse listing on Euronext Amsterdam under the ticker TRSR. Read more →

AI Models Outperform Top VCs in Predicting Startup Success, Oxford Study Finds

A new Oxford–Vela study shows large language models like GPT-4o and DeepSeek-V3 outpace Y Combinator and tier-1 venture firms in forecasting which startups will succeed, using anonymized founder and company data. With tools like the newly released VCBench benchmark, researchers suggest AI could reshape early-stage investing by surfacing winners earlier and making deal flow more meritocratic. Read more →

XRP ETF Records Biggest U.S. Debut of 2025, Dogecoin ETF Also Surges

The first U.S.-listed XRP ETF launched with nearly $38 million in inflows, marking the strongest ETF debut of the year, while a Dogecoin ETF from the same issuers drew $17 million on its first day. Analysts say the strong demand signals investor appetite for altcoin exposure, as the SEC prepares to review dozens more crypto fund applications following its recent approval of streamlined listing standards. Read more →

OpenAI Weighs $100B Server Spend as ChatGPT Nears 1B Users

OpenAI is reportedly considering spending up to $100 billion on backup servers to prevent outages as ChatGPT approaches 1 billion weekly active users. The potential investment would come on top of $350 billion already earmarked for cloud partnerships through 2030, as the Microsoft-backed firm forecasts $200 billion in revenue by the decade’s end. Read more →

WLFI Climbs as Trump-Backed DeFi Project Approves Token Buyback and Burn

World Liberty Financial’s WLFI token gained over 6% in 24 hours after holders voted nearly unanimously to direct all protocol fee revenue toward buying and permanently burning WLFI. The move comes as the Trump-backed project, already valued in the billions through family holdings, expands its DeFi ecosystem with liquidity programs and its USD1 stablecoin. Read more →

Gary Gensler Reaffirms Anti-Crypto Stance Despite U.S. Policy Shift

Former SEC chair Gary Gensler defended his crackdown on the crypto industry in a CNBC interview, arguing most tokens lack fundamentals and are driven by hype, with Bitcoin as the exception. His comments contrast sharply with current SEC head Paul Atkins, who has adopted a pro-crypto agenda that includes streamlined ETF approvals and support for the recently passed GENIUS Act. Read more →

MetaMask Tests Hyperliquid Perps Integration With USDC Deposits

MetaMask is trialing an in-app feature that would let users trade Hyperliquid perpetual futures directly from its wallet, with USDC deposits, fee previews, and transaction tracking. The update, possibly set for reveal at Token2049, comes as Consensys prepares to launch the MASK token and explores reward tie-ins with its Linea network. Read more →

X Cracks Down on Bribery Scheme Linked to Crypto Scammers

X revealed it has dismantled a bribery network where intermediaries offered staff payouts to restore accounts tied to crypto scams and platform manipulation. The offenders, also active on Instagram, TikTok, YouTube, Minecraft, and Roblox, are linked to criminal groups including “The Com.”

Bitcoin Mining Difficulty Hits Record High, Signaling Network Strength

Bitcoin’s mining difficulty climbed to an all-time high of 142.3 trillion—up nearly 30% this year—alongside a record hashrate of 1.09 ZH/s, underscoring the network’s resilience. While tougher conditions may squeeze inefficient miners, experts say high Bitcoin prices and improved hardware efficiency help professional operators remain profitable, making the network more secure against attacks. Read more →

Rate Today’s Edition

Share this newsletter, claim your reward! 🎁 

Participate in the On & Off Chain referral program by sharing the newsletter with your friends to claim your reward:

• ✌️2 referrals: A personal shoutout in On & Off Chain

Must be subscribed