Summary
gm, SEC Chair Paul Atkins made a landmark policy shift by stating that most crypto tokens are not securities, signaling a more favorable regulatory environment. Meanwhile, institutional adoption accelerated as Binance partnered with Franklin Templeton to create new digital asset products, and BlackRock revealed plans to explore tokenizing ETFs on blockchain. Solana hit a seven-month high of nearly $225, rising over 7% in 24 hours, with Bitwise's CIO predicting an "epic end-of-year run" driven by institutional demand and pending spot ETFs. In other news, the Hyperliquid ecosystem saw intense competition for its USDH stablecoin ticker, with Native Markets emerging as the frontrunner ahead of the validator vote this weekend.

News Headlines
🛡️ StarkWare Launches Lightweight Bitcoin Verification for Mobile Devices

  • StarkWare has developed a zero-knowledge verification of the Bitcoin blockchain that operates on mobile devices, reducing transaction verification data to just 1 megabyte compared to the full 680+ gigabyte blockchain.
  • This lightweight solution enables users to authenticate transactions without setting up a full node, addressing concerns about increasing node requirements and helping maintain Bitcoin's decentralized nature amid rising operational costs.

🌍 Sub-Saharan Africa Third-Fastest in Crypto Adoption

  • Chainalysis reports that Sub-Saharan Africa saw a 52% increase in on-chain value received, totaling $205 billion between July 2024 and June 2025, making it the third-fastest growing region for cryptocurrency adoption.
  • Nigeria emerged as the regional leader with $92.1 billion in crypto received, driven by its large youth population, economic challenges like high inflation, and difficult access to foreign currencies, which make stablecoins particularly appealing.

đź’Ľ Forward Industries Closes $1.65B PIPE Deal to Build Solana Treasury

  • Forward Industries has completed a $1.65 billion private investment deal aimed at building the largest corporate treasury focused on Solana, with major investors like Galaxy Digital, Jump Crypto, and Multicoin Capital contributing over $300 million.
  • The company's shares rose by up to 76% following the announcement, reflecting growing corporate interest in digital asset treasuries and the Solana ecosystem, which currently has over $1.4 billion in SOL held collectively by treasury firms.

đź“Ź Bitcoin Monthly Options Expiry Could Be First Step To $120K

  • A $4.3 billion Bitcoin options expiry reveals a neutral-to-bullish outlook among traders, with strong performance in call options suggesting potential for upward momentum if Bitcoin maintains levels above $113,000.
  • Macroeconomic uncertainties, including weak US employment data and AI sector growth concerns, could influence Bitcoin's trajectory, highlighting the critical impact of broader economic factors on market performance.

🏦 Alabama State Senator Warns GENIUS Act Could Harm Small Banks

  • State Senator Keith Kelley raised concerns about the federal GENIUS Act stablecoin bill, highlighting a loophole that could incentivize withdrawals from local banks and threaten their lending capabilities.
  • The senator emphasized that community banks rely heavily on local deposits for funding local economies, particularly rural farming communities, and that cryptocurrency platforms offering financial rewards could undermine traditional banking operations.

Market Metrics

Fundraising & VC
1. Figure (IPO, $787.5M) - Blockchain-based lender
2. Gemini (Strategic, $50M) - Cryptocurrency exchange
3. ChatterPay (Strategic, Undisclosed) - Web3 wallet integrated into WhatsApp

Regulatory
🏛️ Senate Committee Advances Trump's Crypto-Friendly Fed Nominee

  • The US Senate Banking Committee has advanced Stephen Miran's nomination to the Federal Reserve Board of Governors with a party-line vote of 13-11, sending it to the full Senate for consideration.
  • Miran, who previously served in the Trump administration and has expressed support for digital assets, has stated he would not resign from his White House advisory role if confirmed beyond January.

⚖️ CFTC Chair Nominee Shares Private Texts with Winklevoss Twins

  • Brian Quintenz, Trump's nominee to head the CFTC, publicly released text messages showing the Winklevoss twins sought assurances about CFTC enforcement actions, which he declined to provide.
  • Quintenz alleges that after their exchange, the Winklevoss brothers contacted President Trump directly, leading to a delay in his Senate confirmation just days before Gemini's planned $3 billion IPO.

🏦 Hong Kong Considers Easing Bank Capital Rules for Crypto

  • The Hong Kong Monetary Authority (HKMA) is considering reducing capital requirements for banks holding cryptocurrencies if they can demonstrate appropriate risk mitigation measures.
  • The proposed guidelines, set for implementation in early 2026, aim to clarify capital regulation for crypto assets as Hong Kong positions itself as a global leader in cryptocurrency regulation.

🛑 GOP Not Ready to Advance Comprehensive Crypto Bill

  • Senator John Kennedy (R-LA) expressed concerns that the Senate is unprepared to move forward with a comprehensive crypto market structure bill, calling it a "full leap" ahead compared to the recently passed GENIUS Act.
  • Despite Senate Banking Committee Chair Tim Scott pushing for a markup by September 30, Kennedy's comments highlight divisions among Republicans and indicate bipartisan support for the bill is weaker than for stablecoin legislation.

🔄 Chinese Firms Face Restrictions on Stablecoin Activities in Hong Kong

  • Mainland Chinese firms and state-owned enterprises operating in Hong Kong may be forced to withdraw from crypto-related activities following a recent policy shift.
  • Major banks like HSBC and ICBC are expected to refrain from seeking stablecoin licenses despite initial interest from 77 institutions when Hong Kong's stablecoin regulatory framework took effect in August.

Technical Analysis
Bitcoin - Bitcoin has broken the falling trend channel in the short term and reacted strongly up. For the time being, it is difficult to say anything about the future trend direction. The currency has support at points 113500 and resistance at points 117400. The currency is assessed as technically slightly positive for the short term.

Ethereum - Ethereum has broken the ceiling of the falling trend in the short term, which indicates a slower initial falling rate. The currency is between support at points 4300 and resistance at points 4800. A definitive break through of one of these levels predicts the new direction. The currency is assessed as technically neutral for the short term.