PA Daily | Linea briefly down before TGE; SOL breaks through $220, hitting a 7-month high

  • Ethereum spot ETF saw a net inflow of $44.16 million, ending a six-day outflow streak.
  • SOL broke through $220, reaching a seven-month high.
  • Musk's $1 million donation to a Ukrainian refugee caused the meme coin IRYNA to surge 195%.
  • Metaplanet raised $1.44 billion through a share issuance to purchase Bitcoin, with Nakamoto investing $30 million.
  • Gemini increased its US IPO fundraising target to $433 million, aiming for a valuation of up to $3.1 billion.
  • Grayscale submitted registration statements for Bitcoin Cash (BCH), Litecoin (LTC), and Hedera (HBAR) trusts to the SEC.
  • Binance launched an airdrop for Holoworld AI (HOLO), with trading starting on September 11.
  • 10x Research warned that Bitcoin's year-end price target of $192,000 may be overly optimistic due to changing market conditions.
  • AI company Cognition raised over $400 million in funding, reaching a $10.2 billion valuation.
  • iPhone 17 will feature hardware-level memory security technology to enhance wallet and Passkey safety.
Summary

Today's news tips:

Ethereum spot ETF saw a net inflow of over $44 million yesterday, ending a six-day outflow streak.

Musk announced he would donate $1 million to Ukrainian refugees who were assassinated. The meme coin IRYNA surged 195% in a short period of time.

Binance HODLer Airdrop Launches Holoworld AI (HOLO)

Paxos releases USDH proposal V2, PayPal and Venmo join the ecosystem

LongLing Capital-linked wallets deposited over $14 million in crypto assets into Binance

Nakamoto to invest $30 million in Metaplanet

Shenyu: iPhone 17 will be equipped with MIE hardware-level memory security

Macro

Shenyu: iPhone 17 will be equipped with MIE hardware-level memory security

According to DiscusFish, co-founder of Cobo & F2pool, the iPhone 17 will feature MIE hardware-level "memory security" technology. EMTE real-time verification is enabled by default, preventing zero-day attack chains like out-of-bounds exploits and use-after-free (UAF) attacks, mitigating side-channel risks. Statistics show that memory security vulnerabilities account for 70% of all software vulnerabilities. This upgrade will help improve the security of wallet signatures and Passkeys.

Gemini raises US IPO fundraising target to $433 million

According to Bloomberg, Gemini has raised its US IPO fundraising target to $433 million, raising the price range from $17-19 per share to $24-26 per share, with 16.7 million shares offered. At the top end of the range, Gemini's valuation reaches $3.1 billion. Nasdaq has subscribed to $50 million in private placement shares. Following the IPO, Gemini will list on Nasdaq under the ticker symbol GEMI. The company reported a net loss of $283 million in the first half of the year on revenue of $68.6 million.

Grayscale has submitted registration statements for BCH, LTC, and HBAR to the US SEC

Grayscale has submitted S-3 registration statements for the Grayscale Bitcoin Cash Trust (BCH) and Grayscale Litecoin Trust (LTC) to the SEC, according to U.S. SEC filings. Grayscale has also filed an S-1 registration statement for the Grayscale Hedera Trust ETF, intending to offer securities publicly in the United States.

Eric Trump loses Alt5 Sigma board seat after Nasdaq consultation

According to Forbes, Alt5 Sigma originally planned to have Eric Trump join its board of directors, but after discussions with Nasdaq, he decided to only serve as a board observer, with no specific reason given. Alt5 Sigma previously announced it would raise $1.5 billion through direct and private placements to acquire $WLFI, a digital token issued by World Liberty Financial (WLF). SEC filings show that WLF, founded by Donald Trump and his three sons, holds approximately 38% of WLF's shares and 2.25 billion $WLFI tokens, with a shareholding in approximately 75% of the token sale proceeds.

Viewpoint

10x Research: Bitcoin's year-end forecast of $192,000 is overly optimistic; simply going long on BTC in Q4 will be difficult to profit.

Markus Thielen, Head of Research at 10x Research, stated that Bitcoin trading strategies in the fourth quarter of 2019 will differ from those of the past three years, and relying solely on leverage for long positions will no longer be effective. He noted that while some believe the rising global money supply is a positive macro backdrop, this indicator is not the key factor, as other macro variables are more important. He also pointed out that the current average analyst forecast for Bitcoin's year-end price of $192,000 is overly optimistic. While Bitcoin typically performs strongly in the fourth quarter, the market environment has changed, requiring investors to adopt smarter trade structures to maintain profitability. He emphasized that while profit opportunities still exist, the methods differ from what most people expect.

Project News

Hold at least 220 Binance Alpha Points to claim an airdrop of 6,400 Zypher Network tokens (POPs).

Binance Alpha has announced that it will become the first platform to support Zypher Network (POP) trading, with trading officially launching at 6:00 PM (UTC) on September 10, 2025. During the promotional period, users holding at least 220 Binance Alpha Points will be eligible to claim a first-come, first-served airdrop of 6,400 POP tokens.

Upbit will support LINEA trading, launching KRW, BTC, and USDT markets on September 11th

Upbit announced that it will support LINEA trading starting September 11, opening KRW, BTC, and USDT markets, and launching deposit and withdrawal services for the Linea network.

Musk announced he would donate $1 million to Ukrainian refugees who were assassinated. The meme coin IRYNA surged 195% in a short period of time.

Musk announced a $1 million donation to assassinated Ukrainian refugee Iryna Zarutska. According to GMGN, the market capitalization of IRYNA, a meme token on the Solana blockchain commemorating Iryna Zarutska, has surpassed $34 million, a 195% increase in the past hour.

Binance HODLer Airdrop Launches Holoworld AI (HOLO)

Binance announced that Holoworld AI (HOLO) has become the 38th HODLer airdrop project. Users who subscribe to BNB through Simple Earn or On-Chain Yields between August 29 and September 1, 2025, will receive the airdrop. HOLO will be listed on Binance at 20:00 (UTC+8) on September 11, supporting USDT, USDC, BNB, FDUSD, and TRY trading pairs. The total supply of HOLO is 2.048 billion, with an initial circulating supply of approximately 347 million (16.96% of the total supply). The airdrop reward will be 30.72 million HOLO (1.5% of the total supply). HOLO supports the BNB Smart Chain and Solana networks, and the airdrop will be distributed to users' spot accounts before trading opens.

Holoworld AI is now open for HOLO airdrop eligibility inquiries. Official applications will open tomorrow evening.

Holoworld AI, an AI proxy generation protocol, announced that the HOLO Genesis airdrop eligibility inquiry is now open. The claim window will officially open at 7:00 PM on September 11th and last for 60 days, supporting both BNB Chain and Solana. Officials stated that 10% of the token supply will be allocated as rewards to AVA stakers, early product users, and community members: 6% to AVA stakers, 1.5% to Ava Studio users, 1% to proxy marketplace creators, and 1.5% to 3D Pudgy Penguin and HoloPass NFT holders.

Upbit Lists OpenLedger (OPEN) in KRW, BTC, and USDT Markets

South Korean cryptocurrency exchange Upbit has announced support for OpenLedger (OPEN) trading in KRW, BTC, and USDT markets, powered by the Ethereum network. OpenLedger (OPEN) leverages the Optimism OP Stack, focusing on AI contribution tracking and supporting full connectivity across on-chain data, models, and APIs.

Paxos releases USDH proposal V2, PayPal and Venmo join the ecosystem

Stablecoin issuer Paxos released the USDH proposal V2, announcing a partnership with PayPal. HYPE will be listed on PayPal and Venmo, supporting free deposits and withdrawals for USDH and offering $20 million in ecosystem incentives. PayPal will integrate USDH into Checkout, Braintree, Venmo, Hyperwallet, and Xoom. Paxos will only charge a maximum fee of 5% after USDH reaches a certain TVL, with all fees payable in HYPE. The initial AF incentive ratio is 20% and increases with TVL growth. Paxos will begin earning revenue once USDH TVL exceeds $1 billion, capped at 5%. Paxos also claims to be the only institution legally authorized to issue stablecoins globally, specifically emphasizing that other institutions are currently unable to legally issue stablecoins in Europe.

Coinbase Lists Avantis (AVNT)

According to Coinbase Markets, Avantis (AVNT) is now available on Coinbase.com and the Coinbase App, labeled as an “experimental” asset. Users can buy, sell, exchange, send, receive, and store Avantis.

Important data

SOL breaks through $220, reaching a new high since February 1

According to OKX market data, SOL broke through $220, reaching a new high since February 1. Earlier news reported that SOL Strategies was approved to be listed on the Nasdaq on September 9, with the stock code STKE.

Ethereum spot ETF saw a net inflow of over $44 million yesterday, ending a six-day outflow streak.

According to SoSoValue data, on September 9th (EST), the Ethereum spot ETF welcomed a total net inflow of $44.1563 million, breaking the six-day trend of net outflows. Among them, the ETHA ETF under BlackRock had a net inflow of $44.1563 million on a single day, and the current historical total net inflow of ETHA has reached $12.664 billion. As of press time, the total net asset value of the Ethereum spot ETF is $27.392 billion, accounting for 5.27% of the market value (compared with the total market value of Ethereum), and the historical cumulative net inflow has reached $12.673 billion.

LongLing Capital-linked wallets deposited over $14 million in crypto assets into Binance

According to Onchain Lens, the wallet address 0x5725de59fb21f997cdeb51776e1fd8dea05c28b3, associated with LongLing Capital, deposited 4.065 million WLD (US$7.42 million), 1,000 ETH (US$4.31 million), and 3 million USDT into Binance, totaling approximately US$14.13 million. Nansen data shows that the wallet realized a total profit of US$3.84 million.

Financing/Acquisition

AI company Cognition secures over $400 million in funding led by Founders Fund

Cognition announced that it has secured over $400 million in new funding, bringing its post-money valuation to $10.2 billion. This round was led by Founders Fund, with participation from existing investors including Lux, 8VC, Neo, and Elad Gil, as well as new investors such as Bain Capital Ventures and D1 Capital. Cognition is committed to advancing the field of AI coding agents.

Blockchain fintech platform Munify completes $3 million seed round of financing, led by Y Combinator

Institutional staking marketplace Gyld Finance announced the completion of a $1.5 million pre-seed funding round led by Lightshift.

According to reports, Gyld Finance was founded by Abbas Ali (former product director of JPMorgan Kinexys) and Ruchir Gupta (former head of treasury and options trading at GSR), and is developing regulated financial market infrastructure to transform staking rewards into a tradable institutional asset class.

Institutional holdings

Metaplanet will issue 385 million additional shares, raising approximately $1.4 billion to purchase Bitcoin

Metaplanet announced that it has finalized an international offering of 385 million additional shares at a price of 553 yen per share, raising approximately 212.9 billion yen (approximately US$1.444 billion). Of the proceeds, 183.7 billion yen will be used to purchase Bitcoin between September and October. The company currently holds approximately 20,000 Bitcoins, with a market value of approximately 322 billion yen. Another 20.4 billion yen will be invested in Bitcoin revenue-generating businesses (such as options trading) to boost full-year profitability. Upon completion of the offering, the company's total share capital will increase to 1.141 billion shares. Earlier today, it was reported that Nakamoto will invest US$30 million in Metaplanet as part of this international equity financing.

Nakamoto to invest $30 million in Metaplanet

Nakamoto announced a $30 million commitment to Metaplanet, marking Nakamoto's largest single investment to date and its first foray into the Asian market. The funds are part of Metaplanet's international equity financing, announced today, with closing expected on September 16th and the issuance and delivery of common stock on September 17th. Nakamoto stated that Metaplanet, with Bitcoin at its core, has become a leader in Bitcoin strategies for leading Japanese public companies and global enterprises, and that this investment will further strengthen the global institutional financial network centered on Bitcoin.

QMMM Holdings, a US-listed company, plans to establish a cryptocurrency vault with an initial scale of US$100 million.

According to Globenewswire, QMMM Holdings Ltd. (NASDAQ: QMMM) announced its strategic entry into the cryptocurrency sector. This expansion will combine artificial intelligence and blockchain technology to create cryptocurrency analysis tools and a self-developed crypto ecosystem. Furthermore, QMMM plans to establish a diversified cryptocurrency treasury, initially targeting Bitcoin, Ethereum, and Solana. The treasury is expected to initially hold $100 million.

Ethereum treasury firm SharpLink has begun a $1.5 billion share repurchase program

SharpLink, a Nasdaq-listed Ethereum treasury company, has officially commenced a $1.5 billion share repurchase program, purchasing approximately 1 million shares of SBET. SharpLink stated that it believes its stock is significantly undervalued. Repurchasing shares when the net asset value (NAV) is below 1 will immediately increase earnings and compound long-term shareholder value.

Japanese listed company Convano is raising $139.2 million through a bond issuance to increase its Bitcoin holdings

According to BitcoinTreasuries.NET, Japanese listed company Convano (stock code: 6574.T) is raising $139.2 million through the issuance of its fifth unsecured bond to increase its Bitcoin holdings.

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