Today's news tips:
Binance Wallet to List Starpower (STAR) TGE on September 6th
RED surged 86.15% in a short period of time, possibly due to the listing of Upbit.
Binance HODLer Airdrop Lists OpenLedger (OPEN), Trading Opens on September 8th
Stripe and Paradigm launch Tempo, a joint blockchain project designed for stablecoin payments
Tokenized asset management platform Plural completes $7.13 million seed round, led by Paradigm
Macro
The official website of the Supreme People's Procuratorate announced a fraud case involving the fabrication of a false national project involving virtual currency. The persons involved in the case attracted members to participate by releasing promotional information on social software and holding online meetings to explain the benefits of the project. In just half a year after the implementation, it attracted more than 1,900 participants nationwide. Members participating in the project need to convert RMB into USDT to recharge and transfer on the software. After the Huimin County Procuratorate of Shandong Province conducted a judicial accounting appraisal of the electronic data, the persons involved in the case defrauded a total of more than 6 million yuan and were prosecuted for suspected fraud. The defendant was sentenced to fixed-term imprisonment of three years and six months to three years.
According to Putian Net, reporters learned yesterday that the People's Procuratorate of Hanjiang District, Putian City, Fujian Province, is cracking down on emerging crimes across the entire supply chain through three key approaches: preemptive intervention to strengthen the evidentiary foundation, penetrating investigations to overcome data bottlenecks, and leveraging technology to break through the "no confession" defense. In the first half of this year, the Hanjiang District People's Court adjudicated a virtual currency-related crime case brought by the court. Yan, Zheng, Lin, and others used the virtual currency USDT (Tether) to establish an underground foreign exchange trading network, recruiting clients through overseas chat apps and illegally exchanging RMB and foreign currencies using "U-coins." The bank accounts involved in the case had over 13.3 billion yuan in transactions. Investigations confirmed that the amount of illegal foreign exchange transactions reached 25.62 million yuan. The gang also withdrew over 478 million yuan in cash from banks across Fujian, purchased "U-coins," and transferred them to wallets owned by criminals, laundering funds from cross-border crimes and profiting from the price difference. In the end, the court sentenced Yan Moumou, Zheng Moumou, Lin Moumou and 15 others to fixed-term imprisonment ranging from 8 months to 3 years and imposed fines for the crimes of illegal business operations and assisting in information network criminal activities.
According to Caixin, Song Shijie, the owner of one of China's largest over-the-counter (OTC) margin trading platforms in Beijing, who owed the national treasury 22 million yuan in fines and confiscations, has paid nearly 200 million yuan in asset forfeiture settlements to the UK and the US. The UK's National Crime Agency seized his London mansion, apartment, and bank accounts, valued at a total of 16.7 million pounds, or approximately 161 million yuan, based on the funds' alleged origins in illegal securities trading in China and money laundering in the UK. Caixin also reported that Song Shijie was also involved in cryptocurrency scams, resulting in the freezing of three of his Binance accounts, containing approximately $10 million in crypto assets. According to a court filing in Orlando, Florida, in late March, he abandoned his claims to avoid criminal charges.
According to Caixin, Yunfeng Financial previously purchased a total of 10,000 ETH on the open market. Alibaba founder Jack Ma and Yu Feng, chairman of Yunfeng Financial Group, co-founded Yunfeng Capital in 2010. Yunfeng Financial stated that the newly purchased ETH will be listed as an investment asset in its financial statements and that it will continue to increase its investment in digital assets. In addition to Ethereum, it plans to explore the inclusion of diversified mainstream digital assets, including Bitcoin (BTC) and Solana (SOL), in its strategic reserve assets. Previously, on September 2nd, Yunfeng Financial disclosed its purchase of 10,000 ETH, with a total investment cost of US$44 million.
According to Newsprime, South Korea's financial regulators have issued their first guidelines for virtual asset lending services. Due to increased competition among exchanges and heightened investor risks, regulators have completely banned leveraged and cash lending, and set individual limits and fee caps to discourage short-selling-like practices. On the 5th, the Financial Services Commission (FSC) announced it would implement the self-regulatory "Virtual Asset Lending Guidelines," developed by the Financial Supervisory Service and DAXA. The new guidelines focus on three key areas: service scope restrictions, user protection, and market stability. The guidelines explicitly prohibit excessive leveraged lending and Korean won cash lending, require exchanges to use their own assets for services, and prohibit third-party entrusted or indirect lending models. To strengthen user protections, first-time users must complete DAXA's online education and aptitude test. Lending limits of 30 to 70 million won are set based on trading experience. Preemptive notification of forced liquidation risks is required, and margin calls are permitted. The annual fee rate cannot exceed 20%, and public disclosure of lending status and liquidation cases for each currency is mandatory. In terms of market stabilization measures, lending targets are limited to the top 20 assets by market capitalization or listed on three or more Korean won exchanges, excluding trading warning products and currencies suspected of abnormal transactions; and the establishment of an internal control mechanism is required to prevent market fluctuations caused by excessive concentration of specific currencies.
UK regulator drafts new anti-money laundering rules for crypto firms
According to Decrypt, this week, the UK Treasury published draft proposals for amendments to current anti-money laundering regulations aimed at closing gaps and addressing evolving risks, including stricter requirements for cryptocurrency businesses. The draft document states: "This update aims to create a more risk-based, proportionate, and robust system for combating financial crime, while ensuring it is practical for the industry. The government also commits to improving industry guidance on anti-money laundering/counter-terrorist financing (AML/CTF) compliance across a range of issues and issuing separate guidance on the use of digital identity verification for AML/CTF purposes." The new draft proposes several changes for cryptocurrency businesses. The UK Financial Conduct Authority will implement a broader "fit and proper person" test for company controllers, replacing the current beneficial owner test to ensure regulation covers complex ownership structures. Other provisions will reduce the threshold for notification of changes in control from 25% to 10%, bringing it into line with the Financial Services and Markets Act (FSMA) regime. This means that any party acquiring a stake of 10% or more, or exercising significant influence, will be required to notify the FCA. The draft also includes amendments to customer due diligence, trust registration, agency banking restrictions, and technical updates such as converting the threshold amount from euros to pounds. The UK Treasury is soliciting feedback on the draft until September 30, after which the regulations will be finalized and submitted to Parliament for review in early 2026.
Viewpoint
Analysis: If Bitcoin loses the $106,000-108,000 range, the market may trigger a chain reaction
Matrixport's latest weekly report shows that Bitcoin prices have retreated to the $106,000-108,000 range, confirming a bearish trend model signal. A breach of this range could trigger a chain reaction in the market. Meanwhile, gold prices have broken through all-time highs, increasing pressure on European bond markets, and US debt issuance has skyrocketed. Technical support is strong, and historical data shows that initial pullbacks are typically not easily broken. Funding rates have fallen significantly, and implied volatility is nearing historical lows, prompting traders to adjust their positions in advance. Options market pricing suggests that investors may be underestimating the risk of subsequent volatility. While potential upside in the fourth quarter warrants attention, it is crucial to effectively manage risk exposure from a sharp decline.
Brent Donnelly, President of Spectra Markets, plans to place buy orders at $94,000 and $82,000 for Bitcoin to protect against a potential market panic. He noted that the waning popularity of digital assets as a corporate treasury asset, coupled with the bearish seasonality of Bitcoin's halving cycle, could lead to a prolonged bear market for Bitcoin. Historical data shows that Bitcoin's bull run typically peaks 16 to 18 months after a halving event, followed by a one-year bear market. Given that the last halving occurred in April 2024, this pattern suggests the current bull run may be nearing its end. Technically, Bitcoin recently broke below key support at $111,982, confirming a double top pattern breakout. This level has now become resistance. Meanwhile, US non-farm payroll data will be released on Friday. A stronger-than-expected reading could weaken expectations of a Federal Reserve rate cut, further suppressing Bitcoin prices.
Project News
Binance Wallet to List Starpower (STAR) TGE on September 6th
Binance Wallet announced that Starpower (STAR) will be launched as part of its 37th exclusive Token Generation Event (TGE), accessible through PancakeSwap. The event will run from 4:00 PM to 6:00 PM Beijing Time on September 6th, requiring participants to use Binance Alpha Points. Furthermore, an additional 17.5 million STAR will be allocated for subsequent activities, with details to be announced later. Previously, Decentralized PIN startup Starpower secured $2.5 million in funding, led by Framework Ventures.
Upbit to Launch RedStone (RED) Korean Won Trading Market
According to an announcement from Upbit, RedStone (RED) will be launched on the Korean Won (KRW) trading market on September 5th, Beijing time, supporting transactions based on the Ethereum network.
Binance HODLer Airdrop Lists OpenLedger (OPEN), Trading Opens on September 8th
The 36th Binance HODLer Airdrop, OpenLedger (OPEN), is now live. OpenLedger is an AI blockchain dedicated to providing liquidity for the monetization of data, models, and agents. Users who subscribe to guaranteed principal earning products (fixed deposits, demand deposits, or on-chain earning) using BNB between 08:00 on August 18, 2025, and 07:59 on August 22, 2025 (UTC), will receive an OPEN airdrop. Tokens will be distributed to users' spot wallets at least one hour before trading begins. Binance will launch OPEN at 21:00 on September 8, 2025 (UTC), opening trading pairs for USDT, USDC, BNB, FDUSD, and TRY. Seed tag trading rules will apply. OPEN deposits will open at 17:30 on September 5 (UTC). This HODLer airdrop will allocate 10 million OPEN tokens, representing 1.00% of the maximum token supply. The circulating supply at the time of listing is 215.5 million OPEN, representing 21.55% of the maximum supply.
Hold at least 220 Binance Alpha Points to claim 4,000 SHARDS airdrop
Binance Alpha will list WORLDSHARDS (SHARDS) and open trading at 7:00 PM (UTC) on September 5, 2025. During the promotional period, users with at least 220 Binance Alpha Points will be eligible to claim a first-come, first-served airdrop of 4,000 SHARDS tokens. The minimum score will automatically decrease by 15 points every hour for the duration of the promotion.
Justin Sun recently published a letter on the X platform to the World Liberty Financials (WLFI) team: "As one of WLFI's early and major investors, I not only invested capital but also placed my trust and support in the project's future. However, during the project's operation, my tokens were unreasonably frozen. As an early investor, I participated in the investment just like everyone else and deserve the same rights. I urge the team to respect these principles and unfreeze my tokens." Sun added that truly outstanding financial brands must be built on fairness, transparency, and trust, not through unilateral actions such as freezing investor assets. Such actions not only infringe on the legitimate rights and interests of investors but also potentially undermine World Liberty's broader credibility. Earlier today, news broke that Sun's wallet had been blacklisted by the project after transferring $9 million worth of WLFI tokens.
Stuttgart Stock Exchange launches pan-European tokenized asset settlement platform Seturion
According to Cointelegraph, Boerse Stuttgart Group, Europe's sixth-largest exchange operator, has launched Seturion, a blockchain-based settlement platform designed to handle cross-border transactions of tokenized assets across Europe. The platform is aimed at banks, brokers, trading venues, and tokenization platforms. The system supports both public and private blockchains, and settlements can be made using central bank currency or on-chain cash. Local banks have tested it in blockchain trials with the European Central Bank (ECB). The group stated that its own exchange will be the first to connect to the platform. Currently, BX Digital, a DLT trading venue based in Switzerland and regulated by the Stuttgart Stock Exchange, has already activated the solution. Access to other market participants requires regulatory approval.
Stripe and Paradigm launch Tempo, a joint blockchain project designed for stablecoin payments
According to CoinDesk, payments giant Stripe and crypto investment firm Paradigm officially launched Tempo, a joint blockchain project designed specifically for stablecoin payments, on Thursday. Stripe CEO Patrick Collison stated on the X platform that the project, incubated internally within Stripe, aims to meet the large-scale demands of real-world financial applications, processing tens of thousands of transactions per second with sub-second confirmations. Tempo aims to process 100,000 transactions per second, support stablecoins for transaction fees, and employ a built-in automated market maker to ensure issuer neutrality. The chain is compatible with the Ethereum Virtual Machine and built on Reth. Tempo is an independent entity, with Paradigm and Stripe as early investors. Paradigm CEO Matt Huang, who leads a 15-person team, stated that Tempo is being built on the principles of decentralization and neutrality, launching with multiple validators and transitioning to a permissionless model in the future.
Important data
RED surged 86.15% in a short period of time, possibly due to the listing of Upbit.
According to Binance market data, RED briefly hit $1.19, a 24-hour increase of 86.15%, and is currently trading at $0.78. Earlier news broke that Upbit will launch the RedStone (RED) Korean Won trading market.
According to SoSoValue data, yesterday (September 4th, US Eastern Time), Ethereum spot ETFs saw a total net outflow of $167 million. The Blackrock ETF ETHA saw the largest single-day net inflow yesterday, with a net inflow of $149 million, bringing ETHA's historical net inflow to $13.122 billion. The Fidelity ETF FETH also saw the largest single-day net outflow yesterday, with a net outflow of $217 million, bringing FETH's historical net inflow to $2.515 billion. As of press time, the total net asset value of Ethereum spot ETFs was $27.78 billion, with a net asset value ratio (market capitalization relative to Ethereum's total market capitalization) of 5.34%, and cumulative net inflows reaching $13.172 billion.
According to SoSoValue data, Bitcoin spot ETFs saw a total net outflow of $227 million yesterday (September 4th, US Eastern Time). The Bitcoin spot ETF with the largest single-day net inflow yesterday was Blackrock's IBIT ETF, with a net inflow of $135 million, bringing IBIT's total net inflow to $58.804 billion. The Bitcoin spot ETF with the largest single-day net outflow yesterday was Ark Invest and 21Shares' ARKB ETF, with a net outflow of $125 million, bringing ARKB's total net inflow to $2.012 billion. As of press time, the total net asset value of Bitcoin spot ETFs was $142.303 billion, with a net asset value ratio (market capitalization relative to the total Bitcoin market capitalization) of 6.47%, and cumulative net inflows to $54.647 billion.
Anchorage Digital's associated address has deposited 5 million ENA to Binance in the past 17 hours.
According to on-chain analyst @ai_9684xtpa, Anchorage Digital's associated address 0x8ab...03780 has deposited 5 million ENA (worth $3.37 million) to Binance over the past 17 hours. The address currently holds 13.31 million ENA, worth approximately $8.71 million. Anchorage previously partnered with Ethena to introduce the USDtb stablecoin to the US market, making it compliant with the GENIUS Act.
According to on-chain analyst @ai_9684xtpa, after Sun Yuchen's address was blacklisted early this morning, Taiwanese singer Huang Licheng opened a 5x WLFI long order. He currently holds 10 million WLFI tokens (US$1.82 million) at an opening price of US$0.1822.
According to Onchain Lens monitoring, 5 hours ago, a newly created wallet received 14,000 MKR (worth approximately US$24.74 million) from FalconX.
Tokenized Pokémon TCG saw over $120 million in trading volume across four major markets in August
Messari researcher AJC reported on the X platform that tokenized Pokémon TCG trading volume has surged. Last month, four major exchanges facilitated $124.5 million in trading volume, a 450% increase from January. Specific platform data is as follows: Courtyard.io ranked first, facilitating $78.4 million in trading volume in August (a 49% increase from the previous month). Collector Crypt, the largest exchange in the Solana ecosystem, facilitated $44 million in trading volume in August (a 124% increase from the previous month).
According to Onchain Lens, an Ethereum ICO participant pledged 150,000 ETH (worth approximately $656 million) to ETH2 after eight years of inactivity. This participant had previously received 300,000 ETH during the ICO, which was worth a total of $93,300 at the time.
Financing/Acquisition
RedStone acquires DeFi credit rating platform Credora
According to CoinDesk, blockchain oracle service provider RedStone announced the acquisition of on-chain credit rating platform Credora for an undisclosed amount. Credora is backed by Coinbase Ventures, S&P, and Hashkey. Following the acquisition, Credora will operate under the new brand "Credora by RedStone," focusing on risk ratings for DeFi assets and yield strategies. Credora co-founders Darshan Vaidya and Matt Ficke will serve as strategic advisors to RedStone, assisting with integration and rollout. RedStone stated that it will provide rating services similar to those offered by S&P and Moody's for the decentralized market.
Kraken acquires Breakout trading platform
Kraken has acquired Breakout, a proprietary trading platform co-founded by TraderMayne and CryptoCred, to bolster its professional trading tools and market coverage, according to Reuters.
Tokenized asset management platform Plural completes $7.13 million seed round, led by Paradigm
According to PR Newswire, tokenized asset management platform Plural announced the completion of a $7.13 million seed round led by Paradigm, with participation from Maven11, Volt Capital, and Neoclassic Capital, bringing its total funding to nearly $10 million. Plural is building financial infrastructure for the digital economy. Through tokenization and smart contract automation, Plural transforms real-world energy assets like solar, batteries, and data centers into scalable, programmable investment products.
According to Bloomberg, Lead Bank, a 97-year-old Missouri lender restructured to focus on serving fintech and cryptocurrency companies, has raised $70 million in funding at a $1.47 billion valuation—nearly double its valuation last year—as it expands its balance sheet and client base. The bank said the round was led by renowned Silicon Valley investment firms Andreessen Horowitz (a16z) and Khosla Ventures, with participation from existing investors Ribbit Capital, Coatue, and Zeev Ventures, as well as new investors Iconiq Capital and Greycroft. The funds will be used to strengthen its balance sheet and support its expansion into the fintech sector. Lead Bank's clients include buy now, pay later company Affirm Holdings Inc., enterprise spend management platform Ramp Business Corporation, and Bridge, the stablecoin business recently acquired by Stripe Inc.
BlockSpaceForce and Mainnet Capital launch crypto hedge fund, aiming to manage $100 million
According to The Block, Singapore-based BlockSpaceForce and Mainnet Capital have partnered to launch a crypto hedge fund focused on investing in digital asset treasuries (DATs) and other publicly listed crypto-related companies, with a target asset under management of $100 million. The fund, with an open-ended structure, has already invested in DATs such as Kindly MD, Inc. (NAKA), SharpLink Gaming Inc. (SBET), and SUI Group Holdings Ltd. (SUIG), focusing on mainstream digital assets such as Bitcoin, Ethereum, Chainlink, and Solana. The fund selects investments based on three criteria: structural soundness, capital efficiency, and strategic advantage. It is open only to institutional and accredited investors.
Supersonik Completes $5 Million Seed Round, Led by a16z
Supersonik, an AI sales agent startup, announced the completion of a $5 million seed round led by Andreessen Horowitz (a16z). Co-founded by Daniel Carmona Serrat, Joaquim Lechà, and Pol Ruiz, Supersonik specializes in real-time, multilingual AI sales demonstrations, instantly demonstrating software functionality based on customer needs. The funding will be used to expand the US market and technical team, and the company is already working with select clients.
Institutional holdings
According to PRNewswire, Mega Matrix (NYSE American: MPU), a New York Stock Exchange-listed company, has filed a $2 billion general securities registration statement with the U.S. Securities and Exchange Commission (SEC). The registration statement aims to accelerate its stablecoin governance token (DAT) strategy and systematically accumulate mainstream governance tokens. Upon the effective date of the registration statement, the company may issue common stock, preferred stock, bonds, and other securities in tranches based on market conditions to support its DAT strategy, primarily targeting the Ethena governance token $ENA. The registration statement has not yet become effective, and the underlying securities are not available for sale.
According to official news, Sora Ventures announced during Taipei Blockchain Week that it plans to raise Asia's first $1 billion Bitcoin reserve fund, with $200 million committed from partners and investors across Asia. The fund aims to purchase $1 billion worth of Bitcoin over the next six months. It will increase investment in existing Bitcoin reserve companies in Asia while also establishing a broader network of similar projects outside the region to create synergies with existing reserve companies in Asia. The initiative will be led by Sora Ventures' management, who will direct the $1 billion reserve fund and collaborate with existing partners in Asia. Furthermore, the fund plans to expand its existing leadership team by inviting new institutions to join, further expanding resources for existing Bitcoin reserve companies in Asia.
Bitmine purchased another $65.3 million in ETH, bringing its holdings to $7.72 billion.
According to Arkham, Bitmine just bought $65.3 million worth of ETH, bringing its total ETH holdings to $7.72 billion. In addition, Tom Lee is also continuing to increase his ETH holdings.
Figma Releases Q2 Earnings Report: Holding $90.8 Million in Bitcoin ETFs
According to Zhitong Finance, Figma, an American design software developer, announced that its overall revenue for the second quarter (ending June 30, 2025) was approximately US$249.6 million, a year-on-year increase of 41%, but slightly lower than the average forecast of US$250 million given by Wall Street analysts. The document shows that as of June 30, the company held approximately US$1.6 billion in cash, cash equivalents and marketable securities, including US$90.8 million in Bitcoin exchange-traded funds (i.e., Bitcoin ETFs). Dylan Field, the company's co-founder and CEO, said: "We are not intending to become Michael Saylor. This is not a treasury company based on Bitcoin holdings. This is a design company, but I think it has its place on the balance sheet and as part of a diversified treasury strategy."
Publicly listed company Robot Consulting announced plans to invest up to 1 billion yen in Ethereum (ETH) between the fourth quarter of 2025 and spring 2026. The company aims to promote the technological advancement of legal services by integrating blockchain technology with legal tech and to build a digital asset reserve. Robot Consulting plans to utilize Ethereum across various business areas, leveraging the blockchain ecosystem and smart contract functionality, to enhance its influence in the legal tech sector.
iSpecimen Inc. (ISPC), a biospecimen procurement company, announced that it has received investment opportunities from multiple cryptocurrency firms as it advances its plans to establish a $200 million digital asset reserve. The company stated that these inquiries encompass both real-world asset tokenization and highly rated cryptocurrencies, and that it is also exploring the development of a reserve project based on the Solana blockchain.
