The US Senate has added a provision to its crypto bill confirming that tokenized stocks remain securities, preserving their fit within existing financial frameworks. The US Senate updated its crypto market structure bill on Friday, adding a key provision to clarify how tokenized assets are regulated. The new clause would ensure that stocks and other securities remain classified as securities when tokenized on a blockchain, avoiding potential confusion over whether they should fall under commodities regulation. The distinction is important for digital asset firms working on tokenization. Stocks are already regulated as securities. When tokenized, keeping them as securities confirms they stay compatible with broker-dealer frameworks, clearing systems and trading platforms. Read more
A crypto trader anticipates spot Ether ETF inflows will bounce back if Ether “continues this pump.” US-based spot Ether exchange-traded funds (ETF) have posted four consecutive days of net outflows during the shortened trading week due to US Labor Day. The week of outflows comes after a strong August for spot Ether (ETH) ETFs, which recorded $3.87 billion in net inflows, while Bitcoin (BTC) ETFs posted $751 million in outflows for the month, according to Farside. Friday alone saw Ether ETFs shed $446.8 million, bringing total net outflows over the four days to $787.6 million. Meanwhile, Bitcoin ETFs recorded $250.3 million in net inflows during the same period. Read more
After Benjamin Cowen mocked Litecoin's price action, Litecoin jabbed at his hairline, joking it “reminds me of the great recession.” A playful spat between the official social media account of cryptocurrency Litecoin and crypto influencer Benjamin Cowen has grabbed the attention of the broader crypto community heading into the weekend. “Your head reminds me of the great recession,” Litecoin, the 21st-largest cryptocurrency by market cap, said in an X post on Friday, firing back at crypto influencer Benjamin Cowen after he poked fun at Litecoin’s (LTC) long-term price action against Bitcoin (BTC) with the caption “the quiet part.” Cowen said, “Your market cap reminds me of the great recession.” Litecoin responded, “You could use a cap.” The jokes kept rolling. Litecoin said, “I call this the ‘No need for Head and Shoulders’ chart,” referencing the popular bearish reversal pattern. Read more
Bitcoin analyst PlanC says there is no reason for Bitcoin to reach a cycle high this year except for a “psychological, self-fulfilling prophecy.” Traders who predict Bitcoin will reach its cycle-high price by the end of this year may be misunderstanding the principles of statistics, a Bitcoin analyst says. It comes as several analysts have been forecasting the outcome for Bitcoin (BTC) in recent times. “Anyone who thinks Bitcoin has to peak in Q4 of this year does not understand statistics or probability,” PlanC said in an X post on Friday. Read more
TLGY and StablecoinX raised an additional $530 million in financing for its ENA strategy reserve. StablecoinX and TLGY Acquisition have secured an additional $530 million in financing to buy digital assets, bringing total commitments to $890 million ahead of a planned merger and Nasdaq listing. The combined company, to be renamed StablecoinX Inc., is set to hold more than 3 billion ENA, the native token of the Ethena protocol. According to the company, it will be the first dedicated treasury business for the Ethena ecosystem, which issues the USDe and USDtb stablecoins. The capital was raised through a private investment in public equity (PIPE) transaction, which allows public companies to raise capital by selling discounted shares to institutional investors. Read more
Tether has accumulated $8.7 billion in physical gold and has a gold-backed cryptocurrency with a $1.4 billion market cap. Stablecoin issuer Tether, the creator of USDt (USDT), has begun discussions with mining and investment groups about deploying capital across the gold supply chain, according to the Financial Times. The move would further diversify Tether's portfolio risk. According to the report, Tether has been exploring deploying capital across several sectors in the gold business, including gold mining, refining, trading and royalty companies. The company has accumulated $8.7 billion worth of physical gold, which is stored in a vault in Zurich, Switzerland. The reserves back Tether Gold (XAUT), the firm’s gold-pegged stablecoin with a market capitalization of about $1.4 billion. Read more
Interest rate cuts are a bullish catalyst for crypto prices, as investors increase their risk appetite during times of credit expansion. Several financial institutions and market analysts are now projecting the US Federal Reserve, the country’s central bank, will slash interest rates from the current target rate of 4.25%-4.5% at least twice in 2025. The banking forecasts followed a weak August jobs report that saw only 22,000 jobs added for the month, versus expectations of about 75,000. Analysts at Bank of America, a banking and financial services company, reversed their long-held stance of no rate cuts in 2025 and are now projecting two 25 basis point (BPS) cuts, one in September and another in December, according to Bloomberg. Read more