Morning News | Tether returns to the U.S. market; U.S. SEC plans to introduce universal listing standards for crypto ETPs; Sui becomes one of the first partners of Google's new payment protocol AP2
Overview of Important Market Events on September 16Organizer: Zhou, ChainCatcher
Important News:
- Tether returns to the US market, striving to become the dominant stablecoin issuer
- US SEC plans to introduce universal listing standards for crypto ETPs, which may accelerate product issuance
- Polygon plans to increase transaction capacity by 33% in the fourth quarter
- Circle invests in HYPE, plans to become a validator and explore incentive programs
- Sui becomes one of the first partners of Google's new payment protocol AP2
What important events have occurred in the past 24 hours?
According to ChainCatcher, based on Coinglass data, $177 million was liquidated across the network in the past 24 hours, with $107 million in long positions and $70.03 million in short positions. Among them, Bitcoin long positions were liquidated for $6.924 million, Bitcoin short positions for $16.506 million, Ethereum long positions for $42.614 million, and Ethereum short positions for $13.345 million.
Additionally, in the last 24 hours, a total of 83,971 people were liquidated globally, with the largest single liquidation occurring on OKX - ETH-USDT-SWAP worth $1.135 million.
Galaxy Digital plans to launch a tokenized money market fund
According to ChainCatcher, The Block reports that insiders revealed that Galaxy Digital, a digital asset investment firm led by Mike Novogratz, is planning to launch a tokenized money market fund.
The fund is expected to debut in the coming months and will ultimately be launched on the Ethereum, Solana, and Stellar blockchains. However, it may not be available on all three blockchain networks on the first day of launch. Anchorage Digital will be the custodian for this new fund.
Tether returns to the US market, striving to become the dominant stablecoin issuer
According to ChainCatcher, as reported by Jin10, executives from Tether, the world's largest stablecoin issuer, stated that the company is returning to the US market, aiming to become the dominant stablecoin issuer in the country. Bo Hines, Tether's digital asset and US strategy advisor, mentioned that the goal of returning to the US market is to replicate its success overseas. Tether's flagship token USDT (Tether) is the largest stablecoin globally, with a supply of $171 billion, primarily backed by US Treasury bonds.
One of the founders of STBL is an early founder of Tether, STBL rises to $0.12
According to ChainCatcher, Rootdata shows that one of the founders of STBL, Reeve Collins, is also an early founder of Tether. According to Binance Alpha market data, STBL briefly rose to $0.12.
Tether Treasury destroys 2 billion USDT on the Tron chain
According to ChainCatcher, Whale Alert reports that Tether Treasury has just destroyed 2 billion USDT on the Tron blockchain, worth approximately $2.00023 billion. Earlier, Tether Treasury minted a total of 2 billion USDT on the Ethereum blockchain twice, suspected to be a chain swap operation.
CleanCore increases its holdings by 100 million Dogecoin, total holdings exceed 600 million
According to ChainCatcher, NYSE American-listed company CleanCore Solutions (ZONE) has purchased another 100 million Dogecoin (DOGE), bringing its total holdings to over 600 million. Earlier this month, CleanCore launched a $175 million Dogecoin reserve plan, aiming to increase its holdings to 1 billion within 30 days and acquire 5% of DOGE's circulating supply in the long term. The plan is supported by the Dogecoin Foundation and House of Doge, aiming to promote DOGE as a reserve asset and its applications in payments, tokenization, remittances, and staking-like products. Since the launch of this plan, the price of DOGE has risen by over 25%.
Three Swiss banks complete Ethereum interbank payment pilot
According to ChainCatcher, CoinDesk reports that Swiss banks UBS, PostFinance, and Sygnum have successfully tested interbank payments on the Ethereum public chain, using deposit tokens for legal settlements between banks without the need for traditional payment systems.
The pilot covers peer-to-peer payments between clients and the exchange of deposit tokens and assets, validating the technical and legal feasibility. The next step will be to encourage more banks, infrastructure, and regulators to participate and explore the large-scale application of the system.
Sui becomes one of the first partners of Google's new payment protocol AP2
According to ChainCatcher, market news indicates that Sui is one of the first partners participating in Google's Agentic Payments Protocol (AP2), which allows AI agents to execute payments on behalf of users.
AP2 was initially developed by Mysten Labs, and the Sui network provides fast, programmable payments and privacy-first identity, supporting future AI agents in automating business processes. Mysten Labs stated that Sui also supports cryptographic identity, decentralized storage, and privacy-protecting logins, promoting the integration of AI and blockchain.
Circle invests in HYPE, plans to become a validator and explore incentive programs
According to ChainCatcher, market news indicates that Circle has invested in HYPE and is considering becoming a validator for the project while exploring HyperEVM and HIP-3 incentive programs.
Google launches AI payment protocol supporting stablecoins, collaborating with Coinbase and others
According to ChainCatcher, Fortune reports that Google has launched a new payment protocol aimed at achieving seamless fund transfers between AI applications. This open-source protocol supports traditional payment methods such as credit and debit cards, and specifically integrates features for crypto stablecoins pegged to the US dollar.
To achieve stablecoin compatibility, Google has collaborated with crypto exchange Coinbase and the Ethereum Foundation, while consulting over 60 institutions, including Salesforce, American Express, and Etsy. This move is an extension of Google's AI agent communication standards released in April, aimed at ensuring the security and reliability of AI transactions. In the context of a friendlier policy environment in the US, tech giants like Apple, Airbnb, and Meta are also actively exploring stablecoin integration solutions.
The Ether Machine submits S-4 form draft to the US SEC, advancing its public listing process
According to ChainCatcher, The Ether Machine announced today that it has submitted an S-4 form draft registration statement to the US Securities and Exchange Commission (SEC), which is a key step in its business merger with the special purpose acquisition company Dynamix Corporation (Nasdaq: ETHM) and The Ether Reserve LLC.
The company plans to become a publicly traded Ethereum company, focusing on optimizing ETH returns through staking, re-staking, and risk management participation in DeFi, while providing infrastructure solutions for enterprises and Ethereum developers.
Polygon plans to increase transaction capacity by 33% in the fourth quarter
According to ChainCatcher, Polygon Labs developers plan to increase the network's single-block transaction capacity by 33% in the fourth quarter of this year by raising the block gas limit to proactively meet the growing demand in the stablecoin market.
Hyperscale Data announces liquidation of XRP and transformation into a pure Bitcoin treasury company
According to ChainCatcher, NYSE American-listed company Hyperscale Data announced that it will sell its existing XRP holdings and fully transform into a Bitcoin treasury company. This is the first step in its $100 million Bitcoin funding strategy. The company disclosed that it currently holds 15.0022 Bitcoin, worth approximately $1.731 million, and will continue to increase its BTC holdings through the open market.
SharpLink announces the repurchase of 1 million SBET shares, ETH treasury reaches $3.86 billion
According to ChainCatcher, SharpLink announced that it has repurchased 1 million SBET shares as part of its $1.5 billion repurchase plan. As of today, the company holds 838,152 ETH, worth approximately $3.86 billion, and has received a total of 3,240 ETH staking rewards since launching the plan on June 2.
According to ChainCatcher, global cryptocurrency trading platform Gemini announced on September 15 that it has completed its initial public offering (IPO), issuing 15.9375 million Class A common shares at a price of $28.00 per share, raising a total of $446 million. Among them, Gemini itself issued 300,600 shares, raising approximately $8.416 million; the remaining 458,400 shares were sold by selling shareholders through the over-allotment option.
Gemini's Class A common shares officially began trading on Nasdaq on September 12 under the ticker symbol "GEMI." Founded in 2014 by Cameron and Tyler Winklevoss, this successful listing marks the entry of the second mainstream cryptocurrency exchange into the traditional capital market after Coinbase.
According to ChainCatcher, The Block reports that the US SEC is advancing universal listing standards for crypto spot ETPs, allowing compliant crypto ETPs to be approved in as little as 75 days without individual applications.
Bitwise Chief Investment Officer Matt Hougan stated that if the new regulations are implemented, various crypto assets such as Solana, XRP, and Chainlink are expected to quickly launch ETPs, expanding the market. Previously, after traditional ETF markets adopted similar rules, the annual issuance volume increased from 117 to 370.
Data: 17 entities establishing SOL treasury reserves hold a total market value exceeding $4 billion
According to ChainCatcher, Strategic SOL Reserve data shows that the total holdings of 17 entities establishing SOL treasury reserves have reached 17.112 million SOL, accounting for 2.98% of the current total supply of SOL, with a market value of $4.01 billion. Approximately 7.405 million SOL is used for staking, valued at $1.32 billion, with an average staking yield of 7.96%, accounting for 1.288% of the total supply.
According to ChainCatcher, Nick Tomaino, founder of crypto venture capital firm 1confirmation, commented on the "Base considering token issuance" matter, stating, "If operated correctly, BASE will immediately become one of the top five cryptocurrencies by market cap. No VC, no insider trading, transparently airdropping based on usage to developers and users. This is the most successful tokenless chain in history, and the airdrop will be rocket fuel."
According to ChainCatcher, GMGN market data shows that Polycule (PCULE) has risen by 61.19% in the past 24 hours, with a current market cap of $24.06 million, reaching an all-time high.
Earlier news indicated that Polycule announced a $560,000 investment from Alliance DAO. Relevant information shows that Polycule is a streamlined Telegram trading bot designed to simplify trading on the Polymarket prediction market platform.
The world's first AI Agent trading market "MuleRun" officially launched
According to ChainCatcher, Interface News reports that the world's first AI Agent trading market MuleRun has officially launched and is open for all users. This is also the world's first AI worker marketplace.
MuleRun previously announced the launch of two financial agents, focusing on US stock investment research and cryptocurrency market analysis. The blockchain analysis agent is named "Crypto Alpha Hunt," developed in collaboration with experienced users in the Bitcoin field, aimed at helping users quickly identify early cryptocurrencies with high growth potential.
After increasing holdings, Ethereum treasury entities now hold over 4% of total circulating supply
According to ChainCatcher, data from strategicethreserve shows that Ethereum treasury entities currently hold approximately 4.99 million ETH, accounting for 4.13% of the total circulating supply.
Yesterday, the largest Ethereum treasury entity, BitMine, announced that it had increased its holdings by a total of 82,233 ETH last week, bringing its total holdings to $10.77 billion.
Binance's stablecoin reserves reach $40 billion, setting a new historical high
According to ChainCatcher, on-chain analyst Ali (@ali_charts) monitored that Binance's stablecoin reserves have reached $40 billion, setting a new historical high.
Avalon Labs launches BTCtreasuries, ranking among the top five private companies holding Bitcoin
According to ChainCatcher, Avalon Labs has officially launched the platform and ranks among the top five private companies holding Bitcoin, currently holding 6,997 Bitcoin.
BTCtreasuries is an authoritative platform tracking global corporate and institutional Bitcoin holdings, and this listing further highlights Avalon Labs' leading position in the Bitcoin capital market.
Polymarket collaborates with Stocktwits to provide real-time profit forecasts
According to ChainCatcher, Finance Magnates reports that the prediction market platform Polymarket has partnered with the social investment community Stocktwits to embed continuously priced prediction markets into the Stocktwits community feed, allowing investors in the community to access real-time profit forecasts without leaving the platform. The coverage may later expand to other company events and market outcomes.
According to ChainCatcher, the Hong Kong Stock Exchange announced that Hong Kong-listed company BitStrat Holdings Limited has announced that it has spent $3.86 million (approximately HKD 30.02 million) to increase its holdings by 33.41 BTC through the open market, bringing its total holdings to approximately 43.41 BTC.
Another attack incident targeting the NPM supply chain has occurred
According to ChainCatcher, Scam Sniffer has detected another attack incident targeting the NPM supply chain, where @ctrl/tinycolor (with weekly downloads reaching 2.2 million) released a malicious version that runs an information-stealing program during the npm postinstall script execution to scan and steal sensitive data.
This malicious payload misused a legitimate sensitive information scanning tool, TruffleHog. Please check if you have downloaded the affected version, pause installation/update operations, and fix the version to a known safe version.
According to ChainCatcher, market news indicates that Polymarket has submitted documents to the US Securities and Exchange Commission (SEC) showing that "other warrants" were provided in the latest round of financing, which typically refers to tokens, paving the way for Polymarket's token issuance.
Tether-supported pro-Trump PAC to spend over $100 million supporting pro-crypto policy candidates
According to ChainCatcher, the newly established super PAC Fellowship PAC announced on Monday that it will spend over $100 million to support candidates advocating for pro-crypto policies. This is the latest initiative by the digital asset industry to overwhelm political opponents and push legislators in Washington to protect industry interests.
Notably, this PAC is more inclined to ally with the Republican Party and President Trump compared to the currently dominant super PAC in the crypto industry, Fairshake. According to filed documents, the financial officer of Fellowship PAC is an executive from Wall Street firm Cantor Fitzgerald, which was previously led by Secretary of Commerce Howard Lutnick.
According to two insiders, supporters of the organization are expected to include Tether, the world's largest stablecoin issuer.
MoonPay acquires crypto payment startup Meso Network, attracting former PayPal and Venmo executives
According to ChainCatcher, Bloomberg reports that MoonPay Inc. has acquired the cryptocurrency payment startup Meso Network, moving towards building a global payment network that supports both crypto and fiat currencies, allowing for more direct competition with Circle Internet Group Inc. and Visa Inc. The terms of the agreement were not disclosed.
According to ChainCatcher, the US SEC announced that US-listed company Next Technology Holding Inc. (NXTT) has submitted an S-3 registration statement to the US Securities and Exchange Commission, planning to issue up to $500 million in common stock through a shelf registration process.
The company plans to use the raised funds for general corporate purposes, including working capital, R&D expenses, potential acquisitions, and purchasing Bitcoin, although specific uses have not yet been finalized.
Meme Popularity Rankings
According to the meme token tracking and analysis platform GMGN market data, as of September 17, 09:45,
The top five popular ETH tokens in the past 24 hours are: AIGPU, USDe, UNI, LILPEPE, SΞR
The top five popular Solana tokens in the past 24 hours are: BARD, PUMP, Bagwork, TESLA,仙逆
The top five popular Base tokens in the past 24 hours are: ZORA, EURC, R, $BANANAGUY, HOPELESS
What are some interesting articles worth reading in the past 24 hours?
How to evaluate the success and growth of a crypto protocol or product? In web2, marketers have a set of methods to measure success. In the crypto space, especially in L1, L2, and various protocols, the market entry manual is still being written. Some metrics are unavailable, others are less important, and many need to be rethought from a blockchain perspective.
I have spoken with countless growth and marketing leaders, and everyone's dashboard is different, which makes sense because the definition of growth for L1 or L2 is not the same as for DeFi protocols, wallets, or games. Let's think more broadly about these differences:
Foreigners on stage: An alternative business strategy in the crypto circle
During the Bitcoin Asia event in Hong Kong, Binance founder CZ and Trump’s son Eric Trump took the stage… This event was supposed to belong only to elites and big names in the crypto circle.
However, what truly stole the spotlight was a white T-shirt with four Chinese characters: "Foreigners on stage."
NAKA stock price plummets 54% in one day, is the market tired of DAT?
On September 15, the stock price of KindlyMD (NAKA) fell to $1.28, dropping 54% within 24 hours before the deadline, and over 90% in a month. This company, which transitioned from healthcare to Bitcoin (BTC) assets, is now facing dual pressures from its equity dilution plan and investors' general fatigue with its digital asset treasury (DAT) strategy.
KindlyMD was originally listed on Nasdaq as an integrated healthcare technology company, and the opportunity for transformation began with its merger with Bitcoin (BTC) asset Nakamoto Holdings. Founder David Bailey previously served as an advisor on crypto policy to former President Trump and is very familiar with industry regulatory dynamics.
In the past two years, the crypto market has undergone deep adjustments from 2022 to 2023, gradually clarifying regulations in 2024, and accelerating the influx of institutional funds and compliant channels in 2025, profoundly reshaping the landscape. Recently, signals of an "altcoin season" have emerged, but unlike the previous "general rise" frenzy, this round is more inclined towards structured rotation: institutional funds are led to high-quality projects and narrative-driven sectors through compliant channels like ETFs and DAT.
This report will provide a professional investment perspective, focusing on market signals, capital flows, core sectors, risks, and strategies, addressing three key questions: Has the altcoin season truly started? Where is the capital flowing? How should investors position themselves?
When stablecoins start paying for the network: the new relationship between interest and fees
In the on-chain world, many users have experienced moments like this: yesterday, they completed a transfer for just a few cents, but today the same operation costs several dollars. Fees are like an emotional roller coaster, often leaving people bewildered. Over the past few years, stablecoins have grown into one of the most关注的资产类别之一——它们承担着结算、支付、储值等基础功能，是 DeFi 的血液，也是外部资金进入加密世界的重要入口，市值规模和用户渗透率已经使它们具备无可替代的地位。然而热闹背后同样暗藏脆弱：许多项目在起步阶段依赖补贴和叙事聚拢人气，一旦市场环境转凉，补贴难以为继，模式的弱点便不可避免地暴露出来。最明显的就是手续费的波动，不仅让用户心生挫败，也让开发者难以建立稳健的商业模型，更无法准确预估终端用户的付费意愿。
Risk warning
Risk warning
