Summary
gm, The CFTC announced plans to implement Nasdaq's SMARTS surveillance platform to monitor crypto markets and detect manipulation, while also clearing a path for US citizens to legally access offshore exchanges. On the technology front, Google revealed its "Universal Ledger" Layer-1 blockchain plans using Python for smart contracts, positioning itself alongside Circle and Stripe who are developing their own blockchain infrastructures. Meanwhile, institutional interest continues to shift, with Ether ETFs attracting 10 times more inflows than Bitcoin ETFs this week, and BlackRock's Bitcoin ETF holdings now exceeding both Coinbase and Binance, signaling a major transfer of crypto assets to regulated investment vehicles.

News Headlines
🖼️ Camp Network Launches IP-Focused L1 Mainnet and Token

  • Camp Network has officially launched its mainnet and CAMP token, aiming to establish an IP-focused blockchain that protects creator royalties and enables AI-agent monetization.
  • The platform facilitates content tokenization for quick ownership establishment, allowing AI agents to license content while providing creators with royalties, addressing growing concerns over IP protection in the AI era.

⚡ Bitcoin Mining Faces Shrinking Profits as Power Costs Rise

  • Bitcoin mining profitability is under pressure with electricity costs consuming half of miners' revenue, forcing companies to diversify revenue streams.
  • The industry is shifting focus from hash rate to monetizing electricity, while Bitcoin Liquid Staking gains traction as a way for BTC holders to earn yield while maintaining liquidity.

📈 Hyperliquid's HYPE Token Hits Record High Above $50

  • Hyperliquid's HYPE token surged 8% to an all-time high above $50, driven by record trading activity of over $357 billion in derivatives volume for August and an automated buyback mechanism.
  • The exchange's Assistance Fund has accumulated nearly 30 million HYPE tokens worth over $1.5 billion, though analysts caution about potential selling pressure from scheduled token unlocks starting in November.

🔄 Ledn and Sygnum Refinance $50M Bitcoin-Backed Loan

  • Digital asset lender Ledn partnered with Swiss crypto bank Sygnum to refinance a $50M Bitcoin-backed loan, which was twice oversubscribed despite matching previous terms.
  • A portion of the loan has been tokenized through Sygnum's Desygnate platform, creating new investment opportunities that offer inflation-resistant yields between 8% to 12%.

🌐 Symbiotic Launches Token-Based Rewards Across Eight Networks

  • Symbiotic has introduced External Rewards enabling protocols to distribute native tokens to stakers across eight partner networks, enhancing incentives for securing decentralized networks.
  • Partners include Hyperlane (rewarding stakers for Warp Routes), Cycle and Tanssi (using tokens for capital formation), and Primev (incentivizing MEV preconfirmation validators).

Market Metrics

Fundraising & VC
1. Rain (Series B, $58M) - Blockchain-based card issuing and stablecoin interoperability platform
2. M^0 (Series B, $40M) - Decentralized money middleware protocol
3. Apriori (Strategic, $20M) - Intelligent order flow coordination layer for high-performance blockchains

Regulatory
🏛️ US Commerce Department Puts Economic Data on Blockchains

  • The US Department of Commerce is uploading GDP data to nine blockchain networks including Bitcoin, Ethereum, and Solana through partnerships with oracle networks Chainlink and Pyth.
  • This unprecedented initiative by a federal agency aims to enhance transparency in economic data dissemination and integrate macroeconomic indicators directly into the DeFi ecosystem.

🔐 "Know Your Issuer" Framework Aims to Combat Counterfeit Tokens

  • Bluprynt has launched a "Know Your Issuer" (KYI) pilot program to verify authentic cryptocurrencies like USDC and PYUSD, addressing estimated annual losses of $1.6 billion from fake tokens.
  • The solution creates verifiable digital identities at the point of issuance and has been integrated with Solana Attestation Service to enable credential publishing for token verification.

🌏 Thailand's Ex-PM Backs Push to Build Regional Crypto Hub

  • Former Thai Prime Minister Thaksin Shinawatra has endorsed a proposal to position Thailand as a regional hub for digital assets, including a sovereign strategic reserve to boost the country's financial resilience.
  • The initiative, supported by global firms like Metaplanet and UTXO Management, aims to establish Thailand as ASEAN's Bitcoin Digital Asset Treasury hub despite economic challenges.

💰 Philippine Senator Proposes Blockchain for National Budget

  • Senator Bam Aquino is advocating for the Philippines to record its national budget on a blockchain platform to enhance transparency and enable citizens to trace government spending.
  • The initiative could build upon the Department of Budget and Management's existing blockchain platform, which currently logs select financial documents and aims to publish key budgeting documents securely.

🏢 BitMart Withdraws Hong Kong VASP License Application

  • Crypto exchange BitMart has withdrawn its application for a virtual asset service provider license in Hong Kong, following similar withdrawals by other platforms.
  • Hong Kong's rigorous licensing requirements for crypto platforms include maintaining liquid assets for 12 months of operating expenses and storing 98% of client assets offline.

Technical Analysis
Bitcoin - Bitcoin is in a falling trend channel in the short term. This signals increasing pessimism among investors and indicates further decline for Bitcoin. The currency has support at points 110000 and resistance at points 113500. RSI below 30 shows that the momentum of the currency is strongly negative in the short term. Investor have steadily reduced the price to sell the currency, which indicates increasing pessimism and continued falling prices. However, particularly in big stocks, low RSI may be a sign that the stock is oversold and that there is a chance for a reaction upwards. The RSI curve shows a falling trend, which supports the negative trend. The currency is overall assessed as technically negative 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 has support at points 3880 and resistance at points 4800. The currency is assessed as technically neutral for the short term.