š Macro & Regulation
ā¢ U.S. Labor Market Cools: August ADP payrolls came in below expectations, with jobless claims for the week of Aug 30 surpassing forecasts ā reinforcing a slowing employment trend. Markets now fully price in a 25bps Fed rate cut in September, with expectations of 75bps total cuts by year-end.
ā¢ Nasdaq Tightens Rules for Crypto-Linked Firms: Companies seeking to raise capital for crypto purchases may face shareholder vote mandates and enhanced disclosures. Non-compliance could lead to suspension risks.
ā¢ ECBās Lagarde Urges Stablecoin Oversight: Calls for unified reserve standards under MiCA to prevent stablecoin bank-run risks across non-EU issuers.
ā¢ SEC Prepares Crypto Rule Reforms: The regulator outlines plans for updated digital asset guidelines, signaling a more structured U.S. crypto framework.
ā¢ U.S. Reverse Repo Usage Drops to $21B: Marking the lowest level since April 2021, indicating ongoing liquidity drawdown.
ā¢ Crypto Adoption Leaders: India and the U.S. continue to lead global crypto adoption, driven by fintech innovation and regulatory adaptation.
ā¢ New Crypto Hedge Fund Launches: BlockSpaceForce and Mainnet Capital unveil a $100M fund targeting āblock stocksā and Decentralized Autonomous Trust (DAT) companies.
ā¢ Grayscale Debuts ETH Covered Call ETF (ETCO): Designed to generate yield biweekly via options premiums.
š Corporate Treasuries
ā¢ BitMine Adds 14,665 ETH (~$65M): Acquired via Galaxy Digital, aiming to accumulate up to 5% of ETHās total supply.
ā¢ Mega Matrix Proposes $2B Fundraise: Targeted toward backing the Ethena ($ENA) DAT ecosystem.
š Projects & Protocols
ā¢ $WLFI: Blacklists Justin Sunās address after a 9M WLFI transfer was frozen. Sun still holds 545M tokens (~$102M).
ā¢ $DOGE: REX-Osprey expected to launch the first Dogecoin ETF next week.
ā¢ $RED: RedStone acquires Credora to integrate oracle and privacy-preserving credit scoring.
ā¢ $PUMP: Revenue surpasses Hyperliquid; $12.19M PUMP tokens bought in a week, representing 98.23% of income.
ā¢ $MOCA: Introduces NFT and token staking capabilities.
ā¢ $SEI: Etherscan launches Seiscan block explorer for SEI.
ā¢ $VIRTUAL: Releases Agent Liquidity Engine (ALE) to filter real vs. short-term hype proxies.
ā¢ $XRP: Expands $RLUSD stablecoin into Africa via partners Chipper Cash, VALR, and Yellow Card.
ā¢ $SYRUP: syrupUSD supply exceeds $1B, signaling growing demand.
ā¢ $JTO: Completes $1M token buyback. JIP-24 allocates 6% of Block Engine fees to DAO; economic hub page launched.
ā¢ $HBAR: Chosen as underlying infrastructure for Wyomingās Frontier State Stablecoin.
ā¢ $SAGA: Set to launch the first yield-bearing stablecoin on its network.
ā¢ $PEAS: Peapods Finance initiates token buybacks, signaling long-term commitment.
ā¢ $EIGEN: Launches EiR (Entrepreneurs-in-Residence) incubator for founder-led projects.
https://x.com/eigenlayer/status/1963256259274248426
ā¢ $AVAX: Particle Network to launch as a new AVAX L1.
https://x.com/ParticleNtwrk/status/1963245210210881757
ā¢ Lit Protocol: Unveils on-chain AI agent āVincentā for protocol automation.
ā¢ Kraken: Acquires BREAKOUT trading platform to bolster product suite.
ā¢ Pyra V2 (Solana): Combines consumption and wealth generation, powered by Drift protocol.
https://x.com/GetPyra/status/1963715168577458523
ā¢ Stripe Ć Paradigm: Launch Tempo, a new high-performance L1 for financial applications, now in private testnet.
https://x.com/matthuang/status/1963633379284587017
ā¢ Fireblocks: Introduces stablecoin payments network, connecting 40+ participants via unified API for assets like USDC.
https://www.fireblocks.com/blog/the-fireblocks-network-for-payments-is-here/
