Everything web3, crypto, defi, degen
In brief Hyperliquid’s USDH stablecoin has debuted, after Native Markets won the high-profile bid for the ticker last week. It follows a swarm of crypto companies attempting to win the proposal, including the likes of Paxos, Agora, and Ethena. The launch comes as Hyperliquid faces notable competition from emerging perpetual futures decentralized exchange, Aster. Hyperliquid’s…
In brief Former California Assembly majority leader Ian Calderon has vowed to put Bitcoin on California’s balance sheet and back crypto payments for state programs as part of his bid for governor. Calderon previously pushed blockchain policy through AB 2658 and worked with the Satoshi Action Fund. Current bills, AB 1180 and AB 1052, stop…
In brief Tether is seeking to raise up to $20 billion, according to a report. The private raise could give the stablecoin issuer a valuation of $500 billion. AI giant OpenAI and Elon Musk’s SpaceX have received similar valuations. Stablecoin giant Tether Holdings is hoping to raise up to $20 billion in a private placement…
In brief Bitcoin and Ethereum ETFs recorded combined outflows of $439.1 million on Monday, with Bitcoin funds losing $363.1 million and Ethereum products shedding $76 million. The market saw $376.20 million in crypto liquidations in the last 24 hours. Analysts view the outflows as profit-taking and de-leveraging, with Friday’s PCE report seen as pivotal for…
In brief Rainbow Points will be converted into RNBW, a token from Ethereum wallet provider, Rainbow. RNBW’s official tokenomics are still forthcoming, but the launch is expected in Q4. The firm also made a public takeover offer of a token launching protocol, offering 4% of the RNBW supply. Ethereum wallet provider Rainbow will launch the…
In brief Raivo “Rastaland” Plavnieks started livestreaming on Pump.fun to fund treatment for his rare form of cancer. On Sunday, a viewer suggested he should download a Steam game—but it hosted malware that was used to swipe Solana from his wallet. The crypto and online security community rallied behind the streamer to pump his token,…
In brief The UAE Ministry of Finance signed the Multilateral Competent Authority Agreement under CARF on Sunday, following its November 2024 announcement. Implementation begins in 2027, with the first international tax information exchanges expected in 2028. An eight-week public consultation launched on September 15 invites all crypto stakeholders to weigh in on potential impacts and…
In brief Tidal Financial Group applied for a leveraged AltAlt Season Crypto ETF, along with two other filings on Thursday. The proposed fund confounded even some of the fund industry’s sharpest observers unsure what an “alt alt season” was. The fund will relate initially to the performance of XRP and Solana, and exclude Bitcoin and…
In brief The FTX Recovery Trust has announced its third distribution to former clients of the bankrupt exchange. A total of $1.6 billion will be repaid to creditors this time. The FTX brand went bankrupt in 2022 after it was criminally mismanaged. Creditors of collapsed crypto exchange FTX will receive $1.6 billion at the end…
In brief A 12-foot gold statue of Trump holding a Bitcoin was unveiled outside the U.S. Capitol on the day the Fed cut interest rates by a quarter-point. Funded by a group of meme coin creators, the installation is meant to provoke a conversation about government currency and digital financial innovation. Reactions are split: supporters…
