Bitcoin is trading at $116,350, up nearly 0.8%, as traders await the U.S. Federal Reserve’s upcoming interest rate decision. The crypto market often reacts to hawkish or dovish Fed actions since interest rates directly affect liquidity and risk appetite. When rates rise, borrowing becomes more expensive and liquidity tightens. This can push investors away from riskier assets like Bitcoin. On the flip side, if the Fed signals rate cuts or a dovish approach, more capital tends to flow into riskier assets. Bitcoin has increasingly shown a connection to broader economic trend. Traders try to anticipate Fed decisions by watching data points like inflation, employment data, and other macroeconomic indicators. This helps them price liquidity into their positions ahead of time. A supportive Fed stance usually encourages buying, while a hawkish stance can slow momentum as safer investments gain appeal. The central banks’ dual mandates of price stability and maximum employment are currently at odds due to core inflation above 3.10% and a deteriorating labour market. With mixed signals in the market, Bitcoin investors are taking a cautious stance ahead of the key decision.
Circle Rolled Out Native USDC on Hyperliquid’s HyperEVM Chain
Circle has formally announced the debut of native USDC on Hyperliquid’s HyperEVM layer, facilitating the smooth transfer of USDC between over a dozen supported blockchain networks. The native launch lowers trading, minting, and cross-chain transfer friction by eliminating the requirement for wrapped versions for USDC users on HyperEVM. According to the stablecoin issuer, USDC will soon have complete interoperability and direct deposit through HyperCore, improving speed and accessibility for developers and dApps creating inside the ecosystem. Additionally, Circle will introduce incentives and tools for makers of HyperEVM and HIP-3. The Hyperliquid move was presented as a component of a larger plan to create a “full-stack internet financial platform,” which it claims will facilitate the on-chain transfer of global banking and eventually allow for “hundreds of trillions of dollars” in economic activity.
GD Culture Acquires 7,500 BTC Through Pallas Capital Share Deal
Nasdaq-listed GD Culture Group (GDC) announced a major move. The firm is acquiring Pallas Capital Holding Ltd., a company registered in the British Virgin Islands. As part of the deal, GDC will issue 39,189,344 shares of its common stock to complete the acquisition. This gives GDC full control of Pallas Capital’s assets, including 7,500 Bitcoin, all free of any liens or claims. The acquisition not only boosts GDC’s cryptocurrency holdings but also strengthens its position in the growing digital asset space. GDC hopes to fortify its reserve portfolio and fortify its position in the growing decentralised finance (DeFi) ecosystem with this deal. The company CEO stated, “we are building the reserves necessary to execute on our digital asset strategy with both stability and growth potential. Looking ahead, we are confident that this acquisition will deliver meaningful value to our shareholders as we continue to execute our vision of becoming an established player in the digital asset ecosystem.”
Bitwise Files for First U.S. ETF Focused on Stablecoins and Tokenized Assets
Bitwise Asset Management has filed with U.S. regulators to introduce the first exchange-traded fund (ETF) centred on stablecoins and real-world asset tokenisation. The move comes as a perfect example of a demonstration of traditional finance merging with on-chain markets. A prospectus filed with the Securities and Exchange Commission on September 16 states that the Bitwise Stablecoin & Tokenisation ETF would be set up as an actively managed “40 Act” fund in accordance with the Investment Company Act of 1940. According to Bitwise, which manages more than $15 billion in assets, the vehicle will follow its recently created Stablecoin and Tokenisation Index, offering broad exposure to businesses and cryptocurrency-related goods in these industries. According to the fund’s strategy, holdings are split into two categories with equal weights. The first, an equity sleeve that can account for as much as 50% of assets, will comprise 20 to 30 publicly traded businesses engaged in tokenisation exchanges, payment infrastructure, stablecoin issuance, and other services.
Sharps Technology Partners with BONK to Stake $450M Solana Treasury
BONK and Sharps Technology are collaborating to maximise BONK’s liquid staking capabilities. Sharps will invest a portion of its $450 million Solana treasury into BONK’s liquid staking token, BonkSOL, as part of the agreement. As a result, Sharps can profit from staking without having to lock up all of their money, freeing them up for other chances. The action underscores how liquid staking can assist large investors optimise returns and underscores the increased interest from institutions in Solana staking. The alliance, which combines BONK’s technology with Sharps’ substantial treasury, may open the door for additional businesses to investigate cutting-edge staking options in the cryptocurrency market.
Alchemy Pay Launches Fiat-to-RWA Platform for Tokenized U.S. Stocks and ETFs
Alchemy Pay has unveiled a new fiat-to-RWA investment platform. The aim of the launch is to make it easier for people to invest in tokenized U.S. stocks and ETFs using their local currency. The move will help investors around the world to access markets that were once hard to reach. The platform will ease up the burden of transactions, making them process without complicated cross-border cumbersome issues. In partnership with tokenisation provider xStocks, the platform will also offer exposure to more than 60 stocks, including SPY, Apple, Tesla, and Coinbase. Real shares kept with licensed custodians provide a 1:1 backing for the tokenised stocks. Alchemy Pay enables direct fiat purchases using Visa, Mastercard, Apple Pay, Google Pay, SEPA, and more than 50 local payment options without the need for a crypto on-ramp, in contrast to the majority of RWA services.
Court Docs Expose Coinbase Data Breach: Outsourced Employee Sold Customer Info, Impacting 69,000 Users
In a surprising turn of events, concerning new information regarding the Coinbase data breach has been made public by recent court records. The hack, which impacted over 69,000 clients, had created a huge suspicion in the past. Investigators believe the leak was caused by Ashita Mishra, a worker at an Indian customer support firm who collaborated with Coinbase. She allegedly began stealing private information in September 2024, including bank account information and social security numbers. She allegedly then sold identity photographs to hackers for about $200 each. Later, consumers were defrauded by impersonating Coinbase employees using the stolen data. The instance emphasises the dangers of contracting out sensitive tasks and the increasing difficulties crypto companies have protecting client data from both external and internal cyberattacks. The Coinbase data breach was a classic example of a security lacunae that still exists in the crypto market space.
Gemini and SEC End Two-Year Crypto Lending Dispute
Key Takeaways Crypto exchange Gemini and SEC settle the earn program dispute, brining a two year long battle to an...
SharpLink Repurchases 1 Million SBET Shares
As part of its $1.5 billion buyback program, SharpLink announced that it would repurchase one million shares of SBET, increasing the total number of shares repurchased to 1,938,450. The corporation has 838,152 ETH as of September 14, which is worth about $3.86 billion. It has generated 3,240 ETH in staking rewards since June 2.
Citigroup Projects Ethereum at $4,300 by Year-End
With a bull case of $6,400 and a bear case of $2,200, Citigroup predicts that ETH will drop to $4,300 by the end of the year (from the current $4,515). According to analysts, Layer-2s are responsible for the majority of recent increase, with only 30% of that growth reaching Ethereum’s foundation Layer, leaving prices higher than model projections.