Summary
gm, A long-dormant Ethereum ICO whale awakened to stake $645 million worth of ETH, while SharpLink Gaming announced plans to stake a portion of its $3.6 billion ETH holdings on the Linea network. Ethereum's staking queue has now overtaken the exit queue as fears of a sell-off subside, though Ether ETFs experienced substantial outflows of over $505 million despite strong on-chain fundamentals. Meanwhile, regulatory moves gained momentum as the SEC and CFTC jointly proposed a potential shift to 24/7 financial markets, and major Wall Street banks forecasted at least two interest rate cuts in 2025 following disappointing U.S. jobs data, which could provide a more favorable environment for risk assets like cryptocurrencies.

News Headlines
💹 How One Trader Turned $125,000 Into $43 Million on Ethereum

  • A trader transformed a $125,000 deposit into a peak equity of $43 million in just four months on Hyperliquid, amassing over $303 million in ETH exposure through effective compounding and leverage.
  • Instead of taking early profits, the trader continually reinvested gains, eventually securing $6.86 million in realized profits (a 55x return) when the market began to reverse, highlighting the importance of disciplined exit strategies in high-leverage trading.

⛓️ Who Owns the Most Ether in 2025? The ETH Rich List Revealed

  • Approximately 61% of all Ether is held by just 10 addresses, primarily linked to staking contracts, exchanges, and major institutions rather than individual investors.
  • The Beacon Deposit Contract supports Ethereum's proof-of-stake mechanism and holds about 68 million ETH (56% of the total circulating supply), while institutional ownership from companies like BlackRock, Fidelity, and SharpLink Gaming continues to grow.

📈 Taiwan Venture Capital Firm to Create $1 Billion Bitcoin Fund for Asia

  • Sora Ventures has announced plans to raise $1 billion to bolster Bitcoin treasury holdings in Asia, starting with $200 million from partners and seeking an additional $800 million over the next six months.
  • The initiative aims to create a centralized pool of institutional capital to support Bitcoin treasury firms in Asia, helping to align the region with Western markets in terms of crypto adoption and institutional engagement.

🏦 Brazil's Largest Asset Manager Itaú Asset Forms Dedicated Crypto Division

  • Itaú Asset Management, Brazil's leading private asset manager with over $185 billion in assets, has launched a dedicated crypto division led by former Hashdex executive João Marco Braga da Cunha.
  • The firm already offers Bitcoin ETFs and retirement funds with digital asset exposure, and the new unit will expand its offerings to include fixed-income instruments and derivatives, further cementing Brazil's position as a top-10 global crypto market.

🔄 Hyperliquid Seeks Proposals to Launch USDH Stablecoin Amid Controversy

  • Decentralized exchange Hyperliquid has announced a competition for teams to create a USDH stablecoin, with validators voting on proposals in the next five days to determine which team will obtain the ticker.
  • The process has sparked controversy as Hyperstable, a current protocol, claims the USDH ticker was previously blacklisted and questions the fairness of the competition, especially after Native Markets quickly proposed a compliant stablecoin following the announcement.

Market Metrics

Fundraising & VC
No fundraising data today.

Regulatory
📊 Nasdaq Proposes New Listing Rules Affecting Crypto Treasuries

  • Nasdaq has proposed new listing rules that would raise the minimum public float to $15 million and accelerate the delisting process for non-compliant companies.
  • These changes could create barriers for smaller companies looking to establish cryptocurrency treasuries while benefiting established digital asset treasury firms.

📉 Phishing Scams Cost Crypto Users $12M in August

  • Crypto and Web3 users lost over $12 million to phishing scams in August, a 72% increase from July, affecting more than 15,230 victims.
  • EIP-7702 signature scams, which leverage an Ethereum improvement proposal allowing standard accounts to perform smart contract functions, saw a notable rise.

💳 Crypto Developer Accuses Trump-Linked WLFI of Freezing Funds

  • Developer Bruno Skvorc claims World Liberty Financial (WLFI), a project associated with Donald Trump, unlawfully froze his tokens after flagging his wallet as "high risk."
  • Blockchain expert ZachXBT criticized the flawed automated compliance systems that often misclassify wallet addresses based on trivial blockchain activities.

📱 Robinhood Added to S&P 500 as Crypto Adoption Grows

  • Robinhood has been added to the S&P 500 index, with shares rising 7% in after-hours trading following the announcement.
  • This inclusion follows crypto exchange Coinbase's addition to the index in May, highlighting the growing mainstream acceptance of digital asset-focused companies.

🌍 Four Countries Accepting Crypto for Citizenship or Residency

  • Vanuatu, Dominica, and Saint Lucia offer citizenship-by-investment programs that accept cryptocurrency payments through licensed agents who convert crypto donations into fiat.
  • El Salvador's Freedom Visa allows investors to gain citizenship via a $1 million investment in Bitcoin or USDT, with a direct crypto payment option and a fast approval process.

Technical Analysis
Bitcoin - Bitcoin has broken through the ceiling of a falling trend channel in the short term. This indicates a slower falling rate initially, or the start of a more horizontal development. The currency has support at points 107700 and resistance at points 113500. The currency is assessed as technically neutral for the short term.

Ethereum - Ethereum has broken the floor of the rising trend channel in the short term, which indicates a weaker initial rising rate. The currency is approaching support at 4130 points, which may give a positive reaction. However, a break downwards through 4130 points will be a negative signal. The RSI curve shows a falling trend, which could be an early signal of the start of a falling trend for the price as well. The currency is overall assessed as technically slightly positive for the short term.