Summary
gm, Ethereum Foundation unveiled a comprehensive privacy-focused roadmap that rebrands its exploration initiative to "Privacy Stewards of Ethereum" (PSE), targeting enhanced privacy features for transactions and decentralized identity solutions. Market sentiment is buoyed by anticipation of the Federal Reserve's expected 25 basis point interest rate cut on September 17, driving a rally in memecoins and altcoins as Bitcoin edges toward $116,000 and Ethereum approaches $4,700. Meanwhile, institutional interest continues to strengthen with Wall Street veteran Jordi Visser predicting traditional finance institutions will increase Bitcoin allocations by year-end, while Pakistan has opened doors to global crypto firms by inviting applications for licenses through its newly established Virtual Asset Regulatory Authority.

News Headlines
💰 Onchain Collateral Offers Better Loan Terms Than Crypto in ETFs

  • Sygnum's CIO emphasizes that using onchain crypto collateral for borrowers provides greater liquidity than crypto held in investment vehicles like ETFs, enabling lenders to perform margin calls on demand and offer higher loan-to-value (LTV) ratios.
  • As crypto-backed loans evolve, more financial institutions are accepting crypto as collateral despite previous market declines, with JP Morgan exploring options to offer crypto-backed loans to clients in 2026, signaling the traditional financial sector's growing acceptance of this lending form.

⚽ Blockchain Set to Transform Football's Transfer System

  • The football transfer market is poised for transformation through blockchain technology, with cryptocurrency sponsorship already constituting 43% of all crypto sports sponsorships valued at $213 million last year.
  • Blockchain implementation could streamline transfer deadline day processes, allow smaller clubs greater market access, minimize delays, and enhance equity through a transparent Financial Fair Play Ledger, potentially reshaping the global football landscape.

💳 YU Stablecoin Struggles to Regain $1 Peg After Protocol Attack

  • Yala's Bitcoin-collateralized YU stablecoin plummeted to $0.2046 following an attempted protocol attack and has failed to restore its $1 peg despite claims that all funds remain safe.
  • Analysis indicates an attacker minted 120 million YU tokens and sold over 7 million for USDC, converting those funds into 1,501 ETH across multiple wallets, highlighting security vulnerabilities in newer stablecoin protocols.

🚫 Most Companies Don't Need Their Own Ethereum L2 Networks

  • Many companies considering launching their own Ethereum layer 2 networks should reevaluate, as only firms capable of aggregating substantial transaction volumes and lacking direct Ethereum access should pursue this resource-intensive strategy.
  • Most companies will find that directly connecting to Ethereum or existing layer 2 networks is more cost-effective, with assessments needed on transaction volume, the importance of on-chain transactions to their business, and whether they can offer a unique value proposition.

🏦 Capital Group Grows Bitcoin Bet to $6B Through Treasury Stock Investments

  • Capital Group has significantly increased its investment in Bitcoin treasury stocks from $1 billion to over $6 billion, with major holdings in firms like Strategy (formerly MicroStrategy) and Metaplanet, reflecting growing institutional confidence in Bitcoin.
  • The firm acquired a 12.3% stake in Strategy for over $500 million in 2021, which has since appreciated substantially, with their Bitcoin exposure now also including a 5% stake in a hotel operator-turned-Bitcoin holder and shares of mining company Mara Holdings.

Market Metrics

Fundraising & VC
No fundraising data today.

Regulatory
🏛️ Trump Challenges Fed Governor's Position Before Rate Decision

  • President Trump has appealed the district court's block on his attempt to remove Fed Governor Lisa Cook ahead of an anticipated interest rate cut by the Federal Reserve.
  • Trump's legal team argues that removal "for cause" is a presidential discretionary power not subject to judicial review, while Cook contends the action exceeds presidential authority.

🔍 IRS Ramps Up Crypto Surveillance Methods

  • The IRS has dramatically expanded its monitoring of cryptocurrency transactions, moving from targeted probes to widespread data collection from exchanges and employing real-time blockchain analytics.
  • Reports indicate a 75% non-compliance rate among identified crypto users, prompting numerous examinations and a shift toward an 'opt-out' model for crypto taxation.

💵 SEC and CFTC Propose Continuous Capital Markets

  • U.S. regulatory agencies, the SEC and CFTC, have proposed modernizing the financial system by establishing continuous capital markets that would integrate digital assets into mainstream finance.
  • The proposal represents a significant shift away from traditional finance toward utilizing blockchain technology for tokenizing real-world assets and creating an always-open economic system.

🔄 Monero Faces Security Challenge After Major Reorganization

  • Monero experienced an 18-block reorganization that reversed approximately 117 transactions, orchestrated by Qubic, an AI-focused blockchain and mining pool that previously executed a similar attack.
  • Despite this significant security breach, Monero's price surged over 7% from $287.54 to $308.55, contrasting with the broader cryptocurrency market's 1% decline.

Technical Analysis
Bitcoin - Investors have paid higher prices over time to buy Bitcoin and the currency is in a rising trend channel in the short term. Rising trends indicate that the currency experiences positive development and that buy interest among investors is increasing. The currency has support at points 113500 and resistance at points 117400. Volume tops and volume bottoms correspond well with tops and bottoms in the price. This strengthens the trend. RSI is above 70 after a good price increase the past weeks. The currency has strong positive momentum and further increase is indicated. However, particularly for big stocks, high RSI may be a sign that the stock is overbought and that there is a chance of a reaction downwards. The currency is overall assessed as technically positive for the short term.

Ethereum - Ethereum is in a rising trend channel in the short term. Rising trends indicate that the currency experiences positive development and that buy interest among investors is increasing. 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. Volume tops and volume bottoms correspond well with tops and bottoms in the price. This strengthens the trend. The currency is overall assessed as technically positive for the short term.