Morning News | Tether's new round of financing receives investment from SoftBank and Cathie Wood; Apple CEO admits to holding cryptocurrency, stating "this is a reasonable allocation strategy."
Overview of Important Market Events on September 28Organizer: Zhou, ChainCatcher
Important News:
- Data: Aave's total deposits on the Plasma chain exceed $6.5 billion, with a daily increase of over $1.5 billion
- Tether CEO: The technology and strategy of USDT have become industry templates
- Analysis: The mNAV metric commonly used by Bitcoin treasury companies may be misleading and inaccurate
- Hyperliquid launches permissionless spot quoting assets on the mainnet, with USDH as the first enabled asset
- Apple CEO admits to holding cryptocurrency, stating "it's a reasonable allocation strategy"
- Bloomberg: Tether's new round of financing has SoftBank and Cathie Wood as investors
- Zhao Changpeng confirms that the Aster team has former Binance employees, and YZi Labs holds a minority stake in Aster
What important events have occurred in the past 24 hours?
According to ChainCatcher, Qian Zhimin, the main suspect in the 60,000 Bitcoin money laundering case, will stand trial at the Southwark Crown Court in London. This case will become a landmark for Sino-British judicial cooperation, cross-border asset recovery, and the disposal of cryptocurrency assets. Chinese police officers will testify in person in London, and several Chinese victims will testify remotely from a court in Tianjin, China.
According to ChainCatcher, Aave has officially released data showing that daily deposits on the Plasma chain exceed $1.5 billion, with the current total reaching $6.5 billion.
ChainCatcher reports that economist Peter Schiff stated on the X platform that the Bitcoin purchased by Michael Saylor for Strategy has gained about 47% in profit. If he had purchased gold with the same amount at the same time, the paper profit would be around 30%, indicating that the difference between the two is not significant.
ChainCatcher reports that CryptoQuant analyst Axel Adler Jr. released a weekly summary of Bitcoin market trends, indicating that in the fourth week, there was a deleveraging of long positions, a cooling of funding rates, and weak inflows of stablecoins and ETFs. The trend for BTC this week was a rapid drop after failing to break through $115,000, falling below $114,000 to a low of $108,600. Recently, it has been fluctuating in a narrow range between $108,800 and $109,800, with low trading volume. The market stabilized after selling pressure, but the downward high point structure has not been broken.
Tether CEO: The technology and strategy of USDT have become industry templates
ChainCatcher reports that Tether CEO Paolo Ardoino stated on social media that the technology and strategy of USDT have become industry templates, being replicated by other dollar-pegged stablecoins.
ChainCatcher reports that according to CoinDesk, NYDIG's global research director Greg Cipolaro released a report indicating that the mNAV metric frequently used by Bitcoin treasury companies may be misleading because it does not consider the operational businesses or other assets that the relevant companies may own.
Additionally, this metric often uses "assumed shares outstanding," which may include convertible bonds that have not yet met conversion conditions, leading to potentially inaccurate data.
It is reported that mNAV is the ratio of market capitalization to net asset value. If mNAV is greater than 1, Bitcoin treasury companies can issue financing within a premium range and use the funds to purchase BTC, thereby increasing the per-share BTC holdings and enhancing the paper profits. If it converges to 1 or below, with the price of BTC declining and weak secondary market support, the flywheel mechanism will shift from "enhancement" to "dilution," creating negative feedback.
ChainCatcher reports that Strategy founder Michael Saylor has once again released Bitcoin Tracker information on the X platform, stating, "Always keep accumulating Bitcoin."
Based on previous situations, Strategy typically discloses Bitcoin accumulation data the day after he releases Bitcoin Tracker information.
Ant Group's L2 blockchain Jovay releases white paper, aiming for 100,000 TPS
ChainCatcher reports that Ant Group's Layer 2 blockchain Jovay has released its official white paper today, employing parallel pipeline execution and hybrid validity proofs (transitioning from TEE to ZKP).
The official statement claims that a single node can achieve 15,700 to 22,000 TPS under specific loads, with peak ERC-20 transfer rates of 30,000 TPS and native transfers of 28,000 TPS under a 32-core/64GB configuration, with an end-to-end latency of about 160ms.
Its ZK Prover introduces Sumcheck-style PIOP, WHIR commitment schemes, and GPU cluster acceleration (with Sumcheck speeding up over 20× compared to CPU), and plans to scale to 100,000 TPS through clustering, targeting standardized processes for RWA (real-world assets) and cross-chain security architecture.
ChainCatcher reports that Telegram founder Pavel Durov stated on social media, "About a year ago, when I was detained in Paris, the French intelligence agency contacted me through an intermediary, asking me to help the Moldovan government censor certain Telegram channels before the presidential election."
U.S. government shutdown crisis looms, Trump to meet with congressional leaders
ChainCatcher reports that according to CNBC, U.S. government funding will run out on September 30, threatening the jobs of millions of federal workers. Congress must pass or extend a spending bill by October 1 to prevent a government shutdown. Trump will meet with congressional leaders on September 29, including Senate Minority Leader Schumer, House Minority Leader Jeffries, House Speaker Johnson, and Senate Majority Leader Thune.
ChainCatcher reports that Hyperliquid has announced the launch of permissionless spot quoting assets on the mainnet. Stable asset deployers can enable "quote asset" status according to on-chain requirements.
Any quote asset can serve as a quoting asset in the first spot trading pair of HIP-1; new trading pairs between existing base and quote assets can be deployed through permissionless Dutch auctions, independent of the HIP-1 token auction. Native Markets has deployed USDH as the first permissionless quoting asset, and HYPE/USDH trading has gone live, with plans to deploy more permissionless trading pairs as soon as possible.
Citi: Stablecoin market size expected to reach $4 trillion by 2030
ChainCatcher reports that Citi has released a report titled "Stablecoins 2030," raising its baseline forecast for stablecoin issuance to $1.9 trillion by 2030, with an optimistic scenario potentially reaching $4 trillion. The report also states that if the circulation speed is 50 times (similar to the speed of fiat currency payments), it is predicted that by 2030, stablecoins could support about $100 trillion in transaction activity annually, and in the best case, up to $200 trillion.
ChainCatcher reports that ARK Invest CEO Cathie Wood, in an interview with the Master Investor podcast, stated that the Hyperliquid protocol reminds her of the early potential of Solana, calling it "a rising star in the blockchain space." She noted that Solana has proven its value and has entered the mainstream of blockchain.
Apple CEO admits to holding cryptocurrency, stating "it's a reasonable allocation strategy"
ChainCatcher reports that according to market news, Apple CEO Tim Cook confirmed in an interview when asked if he holds cryptocurrencies like Bitcoin or Ethereum. Cook believes that crypto assets are part of a diversified investment portfolio and stated that he has been paying attention to this field and spending time researching it. He finds cryptocurrencies very interesting.
Bloomberg: Tether's new round of financing has SoftBank and Cathie Wood as investors
ChainCatcher reports that according to Bloomberg, SoftBank Group and Cathie Wood's Ark Investment Management will participate in Tether Holdings' latest financing plan. Earlier reports indicated that Tether is seeking to privately place about 3% of its shares, raising approximately $15 billion to $20 billion, with the company's valuation potentially increasing to $500 billion.
Zhao Changpeng: Aster and Binance have a competitive relationship, but it helps BNB
ChainCatcher reports that Binance founder Zhao Changpeng stated on social media, "Few people understand this, Aster competes with Binance, but it helps BNB."
ChainCatcher reports that on September 28, Binance founder Zhao Changpeng retweeted a post stating, "The Aster team has several former Binance employees, and YZi Labs holds a minority stake in Aster," and remarked, "This content is completely correct and not difficult to understand."
ChainCatcher reports that according to Strategic SOL Reserve data, the total holdings of 18 entities that have established Solana treasuries have reached 20.921 million SOL, valued at $4.21 billion, accounting for 3.64% of the current total supply of SOL.
Approximately 12.468 million SOL are used for staking, with an average staking yield of 7.7%, accounting for 2.168% of the total supply.
Meme Hot List
According to the meme token tracking and analysis platform GMGN, as of September 29, 08:30,
The top five popular ETH tokens in the past 24 hours are: sUSDe, USDe, XORAI, APEX, LINK
The top five popular Solana tokens in the past 24 hours are: MetaMask, MetaMask, MetaMask, CR7, ASTER
The top five popular Base tokens in the past 24 hours are: Polyfactual, EURC, GONNER, BSX, ZORA
What are some interesting articles worth reading in the past 24 hours?
In decisions regarding token distribution and allocation, the most important aspect is to enter the market in an open manner, allowing more people to participate. Investing $1 on-chain could potentially yield a return of $10,000, which aligns with our consistent operational philosophy.
Before the mainnet launch, we had already reached an important revenue cooperation with Binance. Through this cooperation, users can deposit directly into Aave on Plasma through Binance's platform.
Valued at $500 billion? A deep dive into the "crypto wolf king" Tether's rise
On September 24, 2025, the world's largest stablecoin issuer Tether launched a new round of financing, planning to raise $20 billion to reach a $500 billion valuation, targeting tech giants like OpenAI and SpaceX. Behind this trillion-dollar empire is a "crypto wolf king" who switched from medicine to business—Giancarlo Devasini.
This Italian, once described by classmates as "highly ambitious and adventurous," transformed from a cosmetic surgeon to the godfather of cryptocurrency, rewriting the underlying logic of global finance with Tether. Today, USDT dominates with a market cap of $172 billion, attracting giants like SoftBank and Ark Investment. However, behind the glamour, controversies such as the Polish money laundering case, reserve fund misappropriation, and regulatory crackdowns loom large.
What is the true origin of stablecoins? How do they divert bank deposits and weaken the effectiveness of monetary policy? How did Tether grow from a "gambling chip" to a giant shaking the traditional financial system?
In-depth analysis of Payy: A vertically integrated on-chain bank and Layer 1 platform
Payy is a vertically integrated on-chain banking platform built from stablecoins, privacy-focused blockchains, and fiat channels. Whether paying friends and family or making payments to merchants and business partners, Payy aims to provide a simple and convenient payment solution to meet various payment needs in daily life.
Payy's parent company, Polybase Labs, has received funding from companies such as Robot Ventures, DBA Crypto, 6th Man Ventures, Orange DAO, and Protocol Labs. In this article, DBA co-founder Jon Charbonneau details the pain points and trends in the stablecoin market, as well as Payy's specific architecture and competitive advantages.
Bloomberg: The "Princeton Mafia" is igniting a crypto treasury craze
Powerful figures in the crypto space, including Mike Novogratz of Galaxy Digital and Dan Morehead of Pantera Capital, have repeatedly appeared in one transaction after another, shaping one of the boldest bets in the new era of crypto: the digital asset treasury craze.
These publicly listed companies (about 85 this year and still increasing) have raised billions from various investors across the U.S., Gulf countries, and Asia. Their strategy is to raise funds using Wall Street tactics, hoard crypto assets, and repeat the process. Week after week, many of the same names keep appearing in the industry's boldest transactions.
Novogratz, Morehead, and Joe Lubin (co-founder of Ethereum), along with Princeton classmates and long-time friends, are not just veterans of the crypto industry but core figures in this high-stakes push for digital assets, coinciding with a broader treasury wave beginning to shake—while their ties trace back to their undergraduate days at Princeton in the 1980s.
Risk warning
Risk warning
