PA Daily | Eightco plans to raise $250 million in a private placement to establish Worldcoin reserves; WLD surpasses $2; MYX's 24-hour liquidation exceeds $69.18 million in ETH

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Macro

US Congress asks Treasury to develop Bitcoin strategic reserve custody plan

According to Bitcoin Magazine, the US Congress has introduced HR 5166, a bill that would require the Treasury Department to establish a custody and management plan for Bitcoin acquired by the federal government, including the Strategic Bitcoin Reserve. The bill, filed by Ohio Congressman Joyce on September 5, 2025, addresses financial services and government appropriations for fiscal year 2026.

Security agency: NPM supply chain attacked, developer qix was compromised

According to Scam Sniffer, the well-known developer qix was attacked by phishing, which resulted in malicious code being injected into the npm software package. The relevant packages include chalk, strip-ansi, color-convert, etc. The attack method is to hook the wallet function, tamper with the ETH/SOL transaction payment address, and replace the address in the network response. It is recommended that users must verify the payee and amount on the wallet interface, check the address changes after pasting, review recent transactions, and use hardware wallets for high-value operations. Ledger CTO Charles Guillemet said that the relevant software package has been downloaded more than 1 billion times, which means that the entire JavaScript ecosystem may be at risk. Malicious code can quietly replace the encrypted address when the user is trading and steal funds. Hardware wallet users can avoid risks by verifying the transaction signature. Non-hardware wallet users are advised to postpone on-chain operations. It is currently unclear whether the mnemonic phrase is stolen.

Viewpoint

CryptoQuant: Bitcoin bull market enters mature phase, peak may occur in October-November

According to CryptoQuant analyst Axel Adler Jr., 504 days have passed since the last Bitcoin halving, and the market is currently in a mature bull market phase. This cycle saw an extreme Value Destroyed Daily (VDD) peak at $70,000 in March, followed by two intermediate distribution waves near $98,000 and $117,000, but falling short of the extreme levels seen in March. This segmented selling by long-term holders (LTHs) suggests a more sustainable market redistribution driven by institutional demand. The final determination of the cycle's peak will require the emergence of the "peak flag" indicator, which typically triggers when the spot price is approximately 11 times the price realized by long-term holders, potentially as early as October-November 2025. At the same time, attention should be paid to the emergence of large-scale spending waves by experienced holders and short-term volatility spikes.

Analysis: Funds from the U.S. Treasury market may drive a new round of crypto asset growth

According to CoinDesk, the total size of US money market funds has grown to $7.26 trillion. Analysts say that if the Federal Reserve cuts interest rates, some funds may flow from money markets into stocks and cryptocurrencies. Coinbase Head of Research David Duong stated that retail funds are expected to flow into risky assets such as cryptocurrencies after interest rate cuts. Cresset Chief Strategist Jack Ablin noted that if yields fall below 4%, investors may shift cash into stocks and cryptocurrencies. The direction of fund flows will depend on the economic environment and the extent of interest rate cuts.

Project News

Binance to List Ethena USDe (USDe) and Open Spot Trading

Binance announced that it will list Ethena USDe (USDe) at 8:00 PM (UTC) on September 9, 2025, with spot trading available for USDe/USDC and USDe/USDT. USDe deposits are now open, with a listing fee of 0 BNB. USDe withdrawals are expected to open at 8:00 PM (UTC) on September 10, 2025, with the specific time confirmed on the withdrawal page.

SwissBorg CEO: The community will not bear any losses, and any gap in recovered funds will be made up by the company

The CEO of SwissBorg, a Swiss crypto platform, tweeted that the team is investigating the exploitation of an external DeFi wallet related to the SOL Earn strategy. The team pledged that the community will not bear any losses, and any shortfall in recovered funds will be covered by SwissBorg. The incident did not affect other strategies on the platform, and user funds remain safe. Earlier this morning, reports indicated that SwissBorg had been hacked into a SOL wallet, with approximately $41 million stolen.

Binance Futures to Launch FLOCKUSDT and SKYUSDT Perpetual Contracts

According to Binance’s announcement, Binance Futures will launch FLOCKUSDT and SKYUSDT perpetual contracts, both of which are USDⓈ-margined products.

Binance Alpha to List Switchboard (SWTCH)

According to Binance's Chinese website, Binance Alpha will become the first project to be listed on the Switchboard (SWTCH) platform on September 9th. Eligible users can claim the airdrop using Binance Alpha Points on the Alpha event page after trading opens. Specific details will be announced separately.

Upbit to launch FLOCK Korean Won trading pair

According to Upbit’s announcement, FLOCK (FLock.io) will be launched on the KRW market and support the Base network.

OpenSea announces mobile upgrade and new phase of pre-TGE rewards

OpenSea CMO Adam Hollander stated that OpenSea has announced the launch of the new OpenSea Mobile app, featuring an integrated AI-native trading experience and support for one-stop management of multi-chain wallets, tokens, and NFTs. The platform also launched the Flagship Collection, investing over one million US dollars to acquire historical and emerging NFTs. Starting September 15th, 50% of platform fees will be used for the final rewards phase before the TGE. Users can upgrade their chests through trading, quests, and more to earn higher rewards. The OpenSea Foundation will announce details of the $SEA token TGE in early October.

ZachXBT: Aqua suspected of Rug Pull, involving approximately $4.65 million SOL

Chainalysis sleuth ZachXBT reported early this morning that the Solana project Aqua is suspected of absconding with funds totaling approximately 21,770 SOL (approximately $4.65 million). The project had previously been promoted by Meteora, Quill Audits, Helius, SYMMIO, Dialect, and several influencers. A few hours ago, the funds were split into four parts and transferred through intermediate addresses before being transferred to various instant exchanges. The Aqua team has now disabled comments on all posts on the X platform.

SwissBorg was attacked by the SOL wallet, and about $41 million was transferred

According to The Block, SwissBorg, a Swiss cryptocurrency platform, lost approximately 192,600 SOL (approximately $41.3 million) in its SOL Earn program after a partner's API was compromised. The company stated that it would use its SOL reserves to help users recover the majority of their remaining balances. Officials have implemented safety measures, temporarily suspending redemptions, and are collaborating with white hat hackers and security teams to recover the stolen funds. This incident did not affect other SwissBorg Earn programs or funds within the app.

Coinbase to List SPX6900 (SPX) and Flock (FLOCK)

Coinbase Assets announced that it will add support for the Ethereum ERC-20 token SPX6900 (SPX) and the Base Network's Flock (FLOCK). Coinbase will launch trading for the SPX-USD and FLOCK-USD pairs on or after 9:00 AM Pacific Time on September 9th, subject to liquidity conditions. The trading will be phased in based on asset availability. Support for SPX and FLOCK may be limited in some jurisdictions.

MegaETH and Ethena jointly launch native stablecoin USDm to subsidize sequencer fees

According to The Block, MegaETH, an Ethereum scaling solution developed by MegaLabs, is launching an on-chain stablecoin called USDm. This stablecoin is designed to replace traditional sorter deposits and use reserve revenue to cover network operating costs. This model, built in collaboration with the decentralized finance protocol Ethena, aims to align on-chain and ecosystem incentives by operating sorters at cost, keeping transaction fees low and stable for users and developers. Currently, many Layer 2 networks generate revenue by adding a markup to sorter fees. USDm aims to address this issue: when a project launches on mainnet, it will use stablecoin reserve revenue to cover shared network costs. The first version of USDm will be issued on Ethena's USDtb protocol layer. A MegaETH representative told The Block that USDm will be redeemable for USDtb at launch, rather than offering direct fiat redemption. The team did not disclose the target float to cover daily operating expenses, stating that these parameters will be determined over time. Regarding other revenue sources, such as MEV, MegaETH stated that details will be announced before the mainnet launch.

Important data

MYX's 24-hour liquidation of $69.1877 million surpassed ETH, with a 334% increase in 24 hours.

According to Coinglass data, the price of MYX surged 334% over the past 24 hours, exceeding $17.68. This resulted in a total of $69.1877 million in liquidations across the entire network, surpassing Ethereum's $54.1029 million, making it the asset with the highest liquidation amount. A total of 216,918 individuals worldwide were liquidated, totaling $386 million. The largest single liquidation occurred on Bybit's MYX/USDT trading pair, valued at $4.7814 million.

WLD breaks through $2, with 24-hour gains expanding to 61.6%

According to OKX market data, WLD broke through $2, with a 24-hour increase of 61.6%. It is currently trading at $2.04, a new high since January 26. Earlier news reported that Eightco plans to raise $250 million in private placements to establish Worldcoin reserves and has received a $20 million strategic investment from BitMine.

Ark Invest increased its holdings in BitMine by approximately $4.46 million and reduced its holdings in Robinhood by approximately $5.13 million.

According to The Block, Ark Invest purchased approximately $4.46 million worth of BitMine Immersion Technologies (BMNR) shares through its three ETFs on Monday, purchasing 67,700 shares through ARKK, 21,890 shares through ARKW, and 12,360 shares through ARKF. BitMine, an Ethereum treasury company, holds approximately 1.78 million ETH. Its stock price rose 4.16% to $43.79 that day. During the same period, ARKW sold 43,728 shares of Robinhood (HOOD), cashing in approximately $5.13 million. Robinhood's stock price rose 15.8% to $117.28 following its inclusion in the S&P 500 index.

Bitcoin spot ETFs saw a net inflow of $368 million yesterday, while none of the 12 ETFs saw a net outflow.

According to SoSoValue data, Bitcoin spot ETFs saw a total net inflow of $368 million on September 8th, Eastern Time, with none of the 12 ETFs experiencing net outflows. Fidelity's FBTC ETF saw a net inflow of $157 million, bringing its total net inflow to $11.934 billion. Ark Invest and 21Shares' ARKB ETF saw a net inflow of $89.4675 million, bringing its total net inflow to $2.101 billion. As of now, the total net asset value of Bitcoin spot ETFs is $145.414 billion, representing 6.52% of Bitcoin's total market capitalization, with cumulative net inflows reaching $54.856 billion.

25,562 MKR tokens were transferred out of the Anchorage custodial address and may flow to CEX.

According to Yu Jin, 25,562 MKR (approximately $42.6 million) was transferred from 10 Anchorage custodial addresses to an institutional platform, potentially destined for a CEX. This batch of MKR was placed in custody at an average price of $2,073 in January 2024, and the current transfer price is $1,667, resulting in a floating loss of $10.38 million.

Financing/Acquisition

Tetra Digital Group, a digital asset infrastructure provider, has secured approximately $10 million in funding.

Tetra Digital Group, a Canadian digital asset infrastructure provider, announced the completion of approximately $10 million in funding from investors including Urbana Corporation, Wealthsimple, Purpose Unlimited, Shakepay, ATB Financial, National Bank, and Shopify. As part of this investment, Tetra and its partners plan to become the first financial institution to launch a Canadian fiat-backed stablecoin in early 2026, subject to regulatory approval. The new Tetra stablecoin will leverage Tetra Digital Group's institutional-grade custody infrastructure to provide businesses and consumers with a stable, secure, and fully compliant digital currency, backed 1:1 by Canadian dollar reserves.

Inversion Capital, a blockchain-focused private equity firm, has raised $26.5 million in seed funding led by Dragonfly Capital.

Private equity firm Inversion Capital has announced the completion of a $26.5 million seed round of funding, led by Dragonfly Capital. The round also included participation from VanEck, Lightspeed Faction, ParaFi Capital, Portal Ventures, Mirana Ventures, Metalayer Ventures, Volt Capital, HashKey Capital, Race Capital, Balaji Srinivasan, Wintermute Ventures, Moonrock Capital, Breed VC, Topology, Casey K. Caruso, Bodhi Ventures, Lvna Capital, Escape Velocity, Folius Ventures, Comfy Capital, and individuals and institutions such as Mike Dudas, Bryan Pellegrino, Jason Yanowitz, Andrew Steinwold, DCF God, and Joshua Lim. Inversion Capital is a private equity firm focused on revitalizing traditional businesses by integrating blockchain infrastructure, particularly in sectors such as telecommunications and financial services. Their strategy involves acquiring traditional businesses, such as mobile virtual network operators (MVNOs), and then deploying blockchain-based solutions to improve efficiency through features such as instant settlement and reduced operating costs.

Institutional holdings

The listed company Lion Group plans to exchange all of its existing SOL and SUI assets for HYPE

Lion Group Holding Ltd. (NASDAQ: LGHL) announced plans to convert all of its existing Solana (SOL) and Sui (SUI) holdings into Hyperliquid (HYPE). This move aims to capitalize on market volatility, lowering average acquisition costs and accumulating HYPE at optimal prices.

Rectitude Holdings Signs Approximately $32.6 Million Standby Equity Purchase Agreement to Launch Bitcoin Treasury Strategy

According to Globenewswire, Nasdaq-listed company Rectitude Holdings announced that it has signed a standby equity purchase agreement of approximately US$32.6 million with Constantinople Limited to launch a Bitcoin treasury strategy. The funds raised will be used to purchase Bitcoin and hold it for the long term.

CleanCore spent $68 million to purchase over 285 million DOGE, sending its stock price soaring 40% after hours.

According to The Block, NYSE-listed CleanCore Solutions (ZONE) announced it has acquired 285,420,000 Dogecoins (approximately $68 million), establishing the largest Dogecoin digital asset pool and planning to increase its holdings to 1 billion within 30 days. This initiative, a collaboration between the House of Doge and CleanCore, aims to boost Dogecoin's global adoption. ZONE's stock price rose 40% after hours, giving it a market capitalization of approximately $50 million. Dogecoin is currently trading at approximately $0.24, with a total market capitalization exceeding $36 billion, ranking it seventh among cryptocurrencies.

Bitmine received another 8,001 ETH from Galaxy Digital, worth $34.41 million

According to Onchain Lens monitoring, Bitmine once again received 8,001 ETH from Galaxy Digital, worth $34.41 million.

Longling Capital withdraws 5,000 ETH worth $21.57 million from Binance

According to on-chain analyst Ember’s monitoring, Longling Capital continued to buy ETH: after transferring 21 million USDT to Binance, they withdrew 5,000 ETH (US$21.57 million) from Binance 10 minutes ago.

Strategy increased its holdings of 1,955 bitcoins last week for a total of $217.4 million

According to official news, Strategy (formerly MicroStrategy) acquired 1,955 bitcoins last week for approximately $217.4 million, an average purchase price of approximately $111,196. This represents a 25.8% return on Bitcoin so far in 2025. As of September 7, 2025, Strategy held 638,460 bitcoins at an average purchase price of approximately $73,880, for a total investment of approximately $47.17 billion.

Eightco plans to raise $250 million in private placements to establish Worldcoin reserves and secure $20 million in strategic investment from BitMine

According to CNBC, Dan Ives, global head of technical research at Wedbush Securities, has joined a new company focused on accumulating Worldcoin (WLD). Eightco Holdings, a small-cap company currently trading on the Nasdaq under the ticker symbol "OCTO," announced on Monday that Dan Ives has become chairman of the company's board of directors. The company also announced that it will conduct a $250 million private placement to implement a purchasing strategy around WLD tokens and use them as its primary reserve asset. The offering is expected to close around September 11, at which time the company plans to change its ticker symbol to "ORBS." Eightco announced on Monday that BitMine has also made a $20 million strategic investment in Eightco, marking the launch of its "Moonshot" strategy, which aims to support innovative ideas that can enhance the Ethereum ecosystem.

Forward Industries Announces $1.65 Billion Private Placement to Launch Solana Financial Strategy

According to Businesswire, global design firm Forward Industries, Inc. (NASDAQ: FORD) announced that it will use $1.65 billion in cash and stablecoin commitments in a private investment in equity (PIPE) offering led by Galaxy Digital, Jump Crypto, and Multicoin Capital to launch a Solana-focused digital asset treasury strategy, aligning the company with the rapidly growing Solana ecosystem. C/M Capital Partners, LP, one of the company's largest existing shareholders, also participated in the transaction. Galaxy, Jump Crypto, and Multicoin will provide financial and strategic support to help Forward Industries build and execute its Solana treasury strategy.

South African listed company Altvest plans to raise $210 million to buy Bitcoin

According to Bloomberg, South African publicly listed company Altvest Capital Ltd. plans to raise $210 million to purchase Bitcoin and establish a crypto treasury reserve, hoping to capitalize on the near-doubling of digital asset prices over the past year. Founder and CEO Warren Wheatley stated in an interview that the company, which will also be renamed "Africa Bitcoin Corp.", is raising funds from both overseas and local investors and will seek an international listing. Altvest Bitcoin Strategies Pty Ltd., a subsidiary of the company, will provide crypto services on behalf of CAEP Asset Managers Pty Ltd., which is authorized by the Financial Sector Conduct Authority. Altvest, with a market capitalization of 52.8 million rand ($3 million), will hold cryptocurrencies as core reserve assets on its balance sheet, similar to how companies traditionally hold cash or gold.

Artelo Biosciences Announces $9.475 Million Private Placement to Launch Solana Financial Strategy

Nasdaq-listed Artelo Biosciences (NASDAQ: ARTL) announced the launch of an underwritten public offering of common stock and/or prepaid warrants, with RF Lafferty & Co., Inc. acting as sole bookrunner. Additionally, Artelo announced a $9.475 million private fundraising round to launch its Solana blockchain-based financial strategy, becoming one of the first companies to adopt the Solana cryptocurrency as its core reserve asset.