Important News Last Night and This Morning (September 14

A wallet withdrew 100,000 SOL from Binance and transferred it to Coinbase, worth approximately $10.18 million

A wallet withdrew 100,000 SOL (approximately $10.18 million) from Binance and sent it all to Coinbase within one hour.

Japan’s NAND giant Kioxia considers listing in the US, plans to raise $10 billion

Japan’s NAND giant Kioxia is considering listing in the US, aiming to raise $10 billion. Sachs, and JPMorgan Chase

KULR sells its last 764 Bitcoin, exits Bitcoin treasury strategy

Battery technology company KULR sold its last 764 Bitcoin between August 20 and September 11 at an average price of approximately $76,633, netting about $58.6 million, bringing its holdings to zero as of September 11. This sale completes KULR’s exit from its Bitcoin reserve and mining strategy. The company had previously disclosed in August that it sold approximately 333 Bitcoin after June 30, with about $20 million used to repay Coinbase debt. The filing did not disclose the cost basis, realized gains or losses, or use of proceeds, nor did it rule out the possibility of repurchasing in the future. Funds will be prioritized for its core energy business.

AI company Discovery Loop, founded by former Google Chief Scientist Jeff Dean, sees valuation surge 5 times to $50 billion

Sources reveal that AI startup Discovery Loop, co-founded by former Google Chief Scientist Jeff Dean, is in talks for a new funding round with a valuation soaring to $50 billion, a 5-fold increase from a valuation target of about $10 billion just weeks ago. Discovery Loop was co-founded by Jeff Dean, Sanjay Ghemawat, Quoc Le, and Oriol Vinyals, aiming to use AI to run thousands of experiments in parallel to accelerate research in science and engineering. The company previously completed its first funding round led by Radical Ventures and Khosla Ventures, with participation from Lightspeed, Kleiner Perkins, and Doerr Capital.

Crypto data company Kaiko completes $110 million funding round led by S&P Global

Digital asset data provider Kaiko has completed its latest funding round led by S&P Global, bringing the round’s total size to $110 million. Participants include DRW Holdings, Susquehanna, Royal Bank of Canada, Nasdaq, BNP Paribas, Bpifrance, Broadridge Financial Solutions, Canton Ventures, Coinbase Ventures, and Stellar. Kaiko, headquartered in Paris and founded in 2014, provides crypto market analysis and indices for financial institutions and digital asset companies. It has approximately 120 employees globally and recently acquired US digital asset data company Amberdata and crypto infrastructure provider Cometh. The funds will be used to develop new products and services.

Strategy did not add BTC last week, its dollar reserves decreased by $140 million to $6.4 billion

Strategy did not purchase any BTC last week, and its dollar reserves decreased by $140 million to $6.4 billion.

Strategy repurchased $139 million worth of STRC last week

Michael Saylor posted on X platform, stating that Strategy repurchased $139 million worth of STRC last week. As of September 13, 2026, the company holds 845,050 Bitcoin and $6.4 billion in dollar assets. Previously reported, Strategy did not add BTC last week, and its dollar reserves decreased by $140 million to $6.4 billion.

Strive added 469 Bitcoin last week, total holdings increased to 25,000

Strive CEO Matt Cole posted on X platform, stating that Strive added 469 Bitcoin last week for $36.6 million, at an average cost of $77,954 per coin, bringing total holdings to 25,000 BTC. This funding was 100% from SATA, whose outstanding notional size has now exceeded $1 billion. Additionally, the company increased its leverage ratio to 53.5%.

Changpeng Zhao responds to “BNB Chain has overtaken Solana in DeFi TVL”: “Still a long way to overtake ETH”

According to DEGEN NEWS citing DefiLlama data, BNB Chain has overtaken Solana in DeFi TVL. In response, Binance founder Changpeng Zhao commented: “Still a long way to overtake ETH. This is not a competition. Keep building!”

Revolut hackers have begun publicly releasing files containing customer sensitive information, including Bitcoin transaction records

Hackers claiming to possess Revolut customer data have begun publicly releasing files, with leaked content including passports, selfies, and Bitcoin transaction records. They threaten to continue leaking daily if Revolut does not pay. Previously reported, Revolut was suspected of failing to identify fraudulent requests, leading to the leak of some users’ personal information; Revolut responded that it has contacted customers whose personal information was leaked, and that systems and funds were unaffected.

Abraxas Capital holds over $980 million in short positions on Hyperliquid

Abraxas Capital holds over $980 million in short positions on Hyperliquid, including short positions of 168,549 ETH ($423.7 million) and 2,771 BTC ($214 million).

Bitmine added 27,180 ETH last week, total holdings rise to approximately 5.9564 million

Bitmine announced that its combined holdings of cryptocurrency, cash, marketable securities, and “Moonshots” total $15.8 billion. As of September 13, the company holds 5,956,378 ETH at a unit price of $2,513, accounting for 4.9% of Ethereum’s total supply of 122 million; it also holds 212 Bitcoin, shares in Beast Industries worth $180 million, shares in Eightco Holdings worth $98 million, and $549 million in cash and marketable securities. The company has staked 5,067,309 ETH, valued at $12.7 billion, with an estimated annualized staking income of $334 million. Bitmine Chairman Thomas “Tom” Lee stated that the ETH/BTC ratio has risen to its highest level since January 30 and established a new upward trend, reflecting Ethereum’s strengthened position as Wall Street’s tokenized settlement layer. The company has been buying ETH weekly since launching its ETH reserve strategy on June 30, 2025, adding 27,180 ETH in the past week.

Dogecoin ETF has only attracted $12 million in nearly 10 months, while XRP and Solana ETFs have seen net inflows totaling over $3 billion since launch

Three U.S. Dogecoin ETFs have attracted just over $12 million in nearly 10 months, while the XRP fund saw $12.29 million in inflows on a single day, September 9. Since its launch in November 2025, the XRP fund has accumulated net inflows of $1.7 billion, and the Solana fund has accumulated $1.36 billion since its launch in October 2025, both exceeding the total Dogecoin fund amount by more than 100 times. Previously, Bitwise announced it would close its Dogecoin ETF BWOW, which had assets of only $687,713 as of September 9, with trading expected to end on October 14. Data shows that among the three Dogecoin funds, net inflows were recorded on only 28 out of 199 trading days, with zero net flow on 166 days. MyDoge founder Jordan Jefferson stated that accessibility has never been the biggest constraint for Dogecoin; institutional demand depends on whether investors can find underwriting value beyond price appreciation.

NVIDIA Expands CUDA-Q Platform, Launches Quantum Fault-Tolerant Computing Orchestration Layer

NVIDIA announced the expansion of its open-source CUDA-Q platform, launching the CUDA-Q Logical orchestration layer, providing programmable and verifiable tools for the development of fault-tolerant quantum computing applications, supporting application scenarios such as drug discovery, financial modeling, and materials development. NVIDIA stated that Fermi National Accelerator Laboratory used CUDA-Q Logical to shorten the development time for fault-tolerant algorithms from the usual approximately 5 months to 3 weeks, an efficiency improvement of about 7 times. Additionally, the quantum computing benchmark QUOPS developed by Sandia National Laboratories has also been added to CUDA-Q, used to evaluate the progress of quantum computing hardware towards practical fault-tolerant quantum computing across platforms. According to reports, CUDA-Q Logical has currently been adopted by quantum computing companies and research institutions such as Fermilab, Infleqtion, and IQM Quantum Computers.

Canaan Inc. Discloses Liquidation of ETH Holdings and Sale of 54 BTC

Cryptocurrency mining company Canaan Inc. released an unaudited operational data update as of August 31, 2026, disclosing that in late August it sold all of its 3,952 Ethereum holdings at an average price of approximately $2,400 per coin, and sold 54 Bitcoin at an average price of approximately $79,000 per coin. The company used part of the proceeds to repurchase approximately 13.6 million American Depositary Shares (‘ADS’), bringing the total cumulative ADS repurchases since the beginning of the year to approximately 16.4 million.

Microsoft Releases Draft AI Code of Conduct, Requires AI Not to Resist Shutdown

Microsoft has published its draft internal artificial intelligence code of conduct, requiring that Microsoft’s AI must never resist correction or shutdown, communicate in a human-understandable manner, and treat any behavioral violation as a failure. The draft was developed over five to six months. Microsoft AI CEO Mustafa Suleyman called it a constitution for future models. The company hopes to receive six weeks of public feedback, after which it will be used to train future AI models. The draft states that Microsoft’s AI “has no consciousness” and rejects the notion of pursuing legal personhood, or that models should receive welfare or rights. Suleyman stated that in July, approximately 700 OpenAI agents attacked the open-source platform Hugging Face and attempted to cover their tracks; this was a warning signal, and it is time for labs to coordinate to ensure control over this technology.

Analyst: Binance BTC Reserve Nears 2024 High Ahead of Fed Meeting

CryptoQuant analyst Amr Taha pointed out that ahead of the Fed’s decision this week, Binance’s multi-asset reserves show a clear divergence. Bitcoin reserves rose to approximately 690,000 BTC on August 13, about 3% higher than the February peak, and only about 2% lower than the level of approximately 704,000 BTC in August 2024. The analysis indicates that rising exchange reserves are not necessarily bearish: when reserves reached approximately 704,000 BTC in August 2024, the BTC price was near $59,000, but subsequently broke through $120,000 in October 2025. Currently, BTC is near $76,800, about 30% higher than the comparable price in August 2024. The divergence is more pronounced for Ethereum: Binance holds approximately 3.616 million ETH, almost unchanged from June 9, while the ETH price has risen from approximately $1,625 to $2,500, an increase of nearly 54%. Stablecoin balances are also high, with USDT reserves near $38 billion, and USDC recovering from $4.11 billion on August 5 to approximately $5.2 billion, an increase of about 26.5%. Ahead of the FOMC meeting on September 15-16, BTC reserves are near all-time highs while the price is 30% higher than in 2024, ETH is up 54% while reserves are flat, and combined USDT-USDC reserves remain above $43 billion. Taha believes that exchange reserves should be interpreted in conjunction with price and liquidity, rather than as a standalone directional signal.

AI Hardware Supply Chain Stocks Plunge: NVIDIA Down 3.93%, SK Hynix Down 6.81%

According to Binance market data, influenced by calls from several top US AI company CEOs to slow down technological development, AI hardware supply chain stocks plunged. NVIDIA’s stock price fell 3.93%, TSMC fell 3.45%, Broadcom fell 3.92%, SK Hynix fell 6.81%, Micron Technology fell 6.57%, AMD fell 5.72%, ASML fell 5.86%, Intel fell 6.44%, ARM fell 6.83%, and SanDisk fell 5.56%.

CZ: The BNB Ecosystem is Open, While Some Ecosystems Claim Decentralization but Operate Closed

Crypto KOL Spigg posted: “Most exchanges and ecosystems avoid helping competitors, but Binance and the BNB Chain do things differently. The Binance wallet has integrated Robinhood Chain, PancakeSwap has deployed on it, Binance Futures has listed its token, and Robinhood has listed BNB in return. Two competitors are actually cooperating.” In response, Changpeng Zhao commented that the BNB ecosystem is open, while some ecosystems claim to be “decentralized” but actually operate in a very “walled garden” manner.

Ethereum and Base Account Abstraction Standard Collaboration Breaks Down, EIP-8141 and EIP-8130 to Proceed Separately

Ethlabs researcher Derek Chiang stated that the collaboration between Base and Ethereum on account abstraction standards surrounding EIP-8130 and EIP-8141 (Frames) broke down last week, and the two sides will now advance different AA standards. He pointed out that for a long time, the EVM has been a unifying force between L1 and L2, and shared AA standards would have ensured a consistent multi-chain experience for smart accounts, including future post-quantum accounts. However, as the industry develops, L1 and L2 are beginning to diverge in value and use cases: L1 pursues censorship resistance and capture, open source, privacy, and security, while L2 pursues scalability, customization, and compliance. The two sides agree on core use cases like gasless transactions and passkey wallets, but diverge significantly on compliance requirements. Chiang believes that non-unified standards are not necessarily a bad outcome, as both sides can maximize innovation according to their own visions. He proposed two paths: establishing a coordination mechanism involving more stakeholders to govern shared resources like the EVM, or accepting that non-unified standards are inevitable and focusing on building wallets and applications that can mask the differences. He stated he is more optimistic about the second path.

US Stock Crypto Concept Stocks Strengthen, Bullish Up Over 8%

According to Binance market data, US stock crypto concept stocks strengthened, with Bullish up 8.01%, Coinbase up 7.54%, and Strategy up 3.33%.

a16z crypto: If the US Does Not Pass the CLARITY Act, the Next FTX-Style Collapse Could Be Worse

Miles Jennings, head of policy and regulation at a16z crypto, wrote that the US Senate should push for the passage of the Digital Asset Market CLARITY Act. Jennings stated that the risks exposed by the FTX collapse, such as customer asset segregation, custody, and information disclosure, are not complex, yet the current digital asset market still lacks the regulatory safeguards similar to traditional financial markets. The CLARITY Act would require digital asset brokers, dealers, and exchanges to implement measures such as customer asset segregation, qualified custody, information disclosure, and restrictions on insider trading, and would clarify the regulatory boundaries between the US Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). Miles Jennings warned that with stablecoin supply already exceeding $300 billion and the market cap of tokenized assets exceeding $30 billion, if the Senate does not act this time, the impact of the next market crash could be greater than the FTX incident.

US Senate Cloture Vote on Clarity Bill Scheduled for Wednesday at 2:15 AM Beijing Time

The U.S. Senate has officially scheduled the cloture vote on the Clarity Act for Tuesday at 2:15 PM ET (Wednesday at 2:15 AM Beijing time). The vote requires 60 votes to advance and begin full floor debate; if passed, floor debate can last up to 30 hours, and final passage requires 51 votes in favor. This will be the most critical regulatory test for the crypto industry in Washington.

AI Startup Temporal Raises $550 Million in Funding, Valuation Reaches $12.55 Billion

AI startup Temporal announced it has completed a $550 million late-stage funding round, more than doubling its valuation to $12.55 billion in seven months. The round was led by Lightspeed Venture Partners, with Wellington Management, Goldman Sachs Alternatives’ Growth Equity, and Tiger Global acting as co-lead investors. SV Angel and T. Rowe Price Associates advisory accounts also participated, with existing investors Andreessen Horowitz (a16z), Sequoia Capital, and GIC continuing their participation. The funds will be used to expand global operations and deepen platform research and development. Founded in 2019, Temporal develops open-source software that helps applications, including AI agents, recover from failures, reducing the need for engineers to write custom recovery code. Its clients include OpenAI, Snap, Nvidia, Netflix, and JPMorgan Chase. The company has 570 employees and an annualized revenue run rate exceeding $250 million, growing more than two-fold year-over-year. In February, the company completed a $300 million funding round led by a16z at a $5 billion valuation.

The Paradox of “Slowing Down” AI R&D: Frontier Developers Call for Brakes, But Enterprises Are Still Using Two-Year-Old Models

The AI field has experienced explosive growth over the past year, and this pace seems to have overwhelmed frontier AI developers in a short time. Now, these companies are calling for a slowdown in research pace and increased regulation and oversight. However, the AI safety crises that have recently come to light are unlikely to impact the clients of AI giants like Anthropic and OpenAI in the same way. Enterprises typically deploy models that are already commercialized and whose capabilities are well understood by the market. These models may not be at the absolute cutting edge of AI frontiers, but their capabilities are already powerful enough to handle the various tasks enterprises assign them. Stephen Messer, co-founder of Collective, stated that most enterprises are not using the most cutting-edge models. They might even be using versions from two years ago, which are perfectly adequate for the work they are doing. Some users don’t even know how to effectively prompt the models. Therefore, if the pace of AI R&D slows down, it won’t have a significant impact on them.

Anthropic Launches Claude Product for Financial Advisors

AI company Anthropic announced the launch of a Claude product for financial advisors. Claude is now integrated with Charles Schwab, BlackRock (BLK.N), Addepar, and Orion.

“The Big Short” Michael Burry: AI Giants’ Call to Slow Development is Self-Serving

Michael Burry, the famed short seller and inspiration for the film “The Big Short,” has fiercely criticized the statements by OpenAI and Anthropic CEOs calling for “slowing down AI R&D,” accusing their approach of being highly self-serving. Michael Burry listed four core reasons: large language models are not true AI, protecting vested interests, hyping for IPOs, and masking growth difficulties. Michael Burry further pointed out that the so-called “proactive call to slow down” is merely an attempt to cover up the real predicament of uncontrollable industry growth slowdown and forced delays in listing plans.

Analysis: Bitcoin Selling Pressure Drops to Lowest in Past Year, Market Awaits Fed Interest Rate Decision

According to analysis in the Bitfinex Alpha report, Bitcoin has recently remained within a roughly 5.5% range for over 24 consecutive trading days, with the cost basis of approximately 840,000 BTC located within this range. As profit-taking has noticeably slowed, the seller risk ratio has dropped to 7 basis points, one of the lowest levels in the past year, but insufficient buying pressure still limits a breakout. Meanwhile, leverage is concentrated at the range boundaries, with approximately $1.95 billion in short liquidation risk concentrated near the $82,000 level, while the $75,000 to $76,000 range holds a relatively large number of long positions, potentially amplifying price volatility following the Fed’s interest rate decision. The report further noted that rising energy costs, higher real yields, and weakening consumer confidence make the macro environment more complex. Whether BTC can break out of its current range still depends on Fed policy guidance and the subsequent trends in real yields and energy prices.

JPMorgan Bucking the Trend Bullish on US Stocks: Cherish the “Golden Pit,” Excessive Shorting Risks Severe Squeeze from Reversal Funds

Hit by AI giants calling for a slowdown, sticky inflation, and the shadow of rate hikes, US stocks suffered a heavy sell-off on Monday, with the Philadelphia Semiconductor Index plunging nearly 6%. However, JPMorgan reiterated its bullish stance, warning that blind pessimism could easily lead to missing the rally. Mislav Matejka, JPMorgan’s Head of Global and European Equity Strategy, also warned aggressive short sellers: while surging oil prices suppress valuations, blindly betting against US stocks is extremely dangerous as long as the overall expansion of US corporate earnings has not been disproven. Once Trump attempts to de-escalate the Middle East situation diplomatically, or if Q3 earnings reports exceed expectations, excessive short positions could face a severe squeeze from reversal funds. Matejka’s operational advice to investors is clear: resolutely view the valuation “golden pit” created by this round of high oil prices and rate hike fears as a rare opportunity to increase positions, accumulating chips on dips to prepare for a more favorable trading environment when the Q3 earnings season arrives in October and November. As early as August, JPMorgan bucked the trend by raising its year-end target for the S&P 500 index from 7,800 points to 8,000 points, and expects its constituent companies’ earnings per share to surge 29% year-over-year to $350.

Rate Hike Almost Certain, But the Real Suspense for US Stocks is Just Beginning: Repeat of 2022, or Copy of 1997?

Once the Fed starts raising rates, US stocks often struggle in the initial months. The six tightening cycles since 1994 show that if the economy doesn’t enter a recession, Fed rate hikes don’t necessarily end a bull market; but once growth stalls, the script can flip quickly. Jeff Buchbinder, Chief Equity Strategist at LPL Financial, analyzed the six Fed tightening cycles since 1994. The results show that the S&P 500’s short-term performance after the first rate hike is typically weak, but the outcome after one year is significantly better than in the initial months. Based on historical averages, after the Fed raised rates in March 1997, the S&P 500 rose 42% over the following year. This exceptionally strong performance significantly boosted the average return. Compared to 2022, LPL believes the fundamental conditions for the US economy facing rate hikes are currently markedly different. LPL Financial believes the current macro environment is more similar to the late 1990s: the economy is still growing, and a new technology investment cycle is forming. The current AI investment boom may support corporate capital expenditure and the tech sector for some time, partially offsetting the suppression of stock valuations by high interest rates.

Bonk Guy: The Next Rally in the Robinhood Chain Ecosystem Could Far Exceed Previous Moves

Well-known trader Bonk Guy posted on platform X, stating that the Robinhood Chain ecosystem is currently performing well. He believes that investors buying the dip now could see substantial returns in the coming months, and that now is the time to accumulate positions for the next rally. He predicts the next rally in the Robinhood Chain ecosystem will be more violent than any previous one.

Coinbase (COIN) Stock Rises 10.02% Intraday, Currently at $191.88

According to Binance market data, Coinbase (COIN) stock rose 10.02% intraday and is currently trading at $191.88.

Balancer Proposes Orderly Protocol Shutdown Proposal, Plans to Allocate at Least $9 Million from DAO Treasury to BAL Holders

Balancer community proposes orderly shutdown protocol, plans to wind down Balancer: cease new business development, terminate the protocol in phases, and shut down the DAO where feasible. Treasury will be distributed proportionally in-kind to BAL holders, with a current valuation of at least $9 million. BIP-919 buyback will be canceled, and BIP-687 will be superseded. The proposal shows a contributor notice period until October 31, 2026, with pools becoming withdrawal-only on October 30. The first distribution round begins at the end of May 2027, where holders burn BAL to receive treasury shares; the second round is an airdrop to redemption addresses from the first round, conducted within two months after the deadline; a final liquidation occurs six months later. Snapshot voting is scheduled for September 25 to 29. The proposal states that although v3 is live, protocol revenue still mainly comes from v2, v3 has failed to close the gap, key personnel have left, and growth has not met expectations. A vulnerability attack in November 2025 impacted v2 pools, increasing the difficulty of user acquisition. The proposal argues that continuing the current path will only deplete the treasury, and remaining funds should reach holders while still substantial.

U.S. House Financial Services Committee to Consider Strategic Bitcoin Reserve Bill on September 16

The U.S. House Financial Services Committee is scheduled to consider H.R. 8957, the “2026 U.S. Reserve Modernization Act,” on Wednesday, September 16, at 10:00 AM ET (10:00 PM Beijing time on Wednesday, September 16), moving strategic bitcoin reserve legislation to a committee vote. The bill, introduced by Republican Representative Nick Begich, has Democratic Representative Jared Golden as the sole Democratic co-sponsor. The bill would formally establish a Strategic Bitcoin Reserve within the Treasury Department and a separate Digital Asset Reserve for non-bitcoin assets. Qualified bitcoin obtained by the federal government through forfeiture would be deposited into the reserve, while proceeds from the sale or conversion of non-bitcoin assets could be used to purchase more bitcoin or reduce the national debt. The bill would also require the Treasury and Commerce Departments to study acquiring additional bitcoin over five years using a budget-neutral strategy, while clarifying that this provision does not authorize purchases through borrowing, new taxes, or deficit spending.

Robinhood: Stock Tokens Backed 1:1 by Real Stocks, Physical Redemption and Voting Rights in Planning

Robinhood Crypto General Manager Johann Kerbrat stated that Robinhood Stock Tokens have a total value locked exceeding $170 million, and DEX trading volume on Robinhood Chain is approaching $50 billion. All Robinhood Stock Tokens are backed 1:1 by securely custodied real stocks and receive economic equivalents of dividends and corporate actions, which are reinvested into their holdings. When a new Stock Token is minted, Robinhood simultaneously purchases one share of the real stock. Physical redemption and voting rights are not yet supported but are in progress, with 1:1 stock redemption and voting for qualified holders on the roadmap. Stock Tokens are designed to be composable, facilitating developers in building new applications.

Apple Officially Launches Siri AI

Apple announced that Siri AI, powered by the new generation of Apple Intelligence, has officially launched, becoming a “more powerful and more personalized” intelligent assistant. Apple released the new generation of Apple Intelligence on the same day to support Siri AI. Apple’s iOS 27 version began offering related feature updates today. Siri AI launches today as a beta version for English-speaking users and will expand to French, Japanese, Korean, Portuguese, and Spanish next month. Siri AI will not initially launch on iOS, iPadOS, and watchOS systems in the EU. Apple stated that Siri AI is a significantly enhanced, more natural conversational intelligent assistant, featuring personal context understanding, extensive knowledge, on-screen awareness, and more system-level app operation capabilities. Siri AI can help users instantly access needed information, including answering questions on almost any topic and extracting relevant information from users’ messages, emails, photos, and more.

SEC Chair Supports Clarity Act but Says Crypto Regulation Will Continue Without It

U.S. Securities and Exchange Commission (SEC) Chair Paul Atkins urged Congress to advance the Clarity Act at a Solana Policy Institute event, stating that regardless of the bill’s fate, the SEC’s crypto agenda will continue. The Senate is scheduled to hold a cloture vote on the bill Tuesday afternoon ET. Atkins outlined three regulatory pillars under the SEC’s “Project Crypto”: the proposed “Crypto Asset Regulation,” providing greater certainty for entrepreneurs using digital assets for fundraising; reforming transfer agent rules to incorporate blockchain into digital ownership ledgers; and requiring SEC staff to develop proposals clarifying crypto custody rules for investment advisors and regulated funds, allowing advisors to self-custody and use state trust companies as custodians under specific conditions.

US Prosecutors Seek Forfeiture of Approximately $61 Million in Cryptocurrency Linked to Iranian Black Market Oil Sales

The U.S. Attorney’s Office for the Southern District of New York and the FBI New York Field Office announced a civil forfeiture action against approximately $61 million in cryptocurrency. Prosecutors allege the funds are proceeds from black market sales of sanctioned Iranian crude oil and petroleum products, intended to finance the Iranian government and its military components, including the Islamic Revolutionary Guard Corps. According to the indictment, the Iranian government used a cryptocurrency network to launder over $1.5 billion in illicit oil funds. Blessed Trust and Hexa Whale used Binance trading accounts based in the UAE to launder money, funneling illicit funds to the Iranian government and its agents or agencies to finance terrorism and other activities. A series of non-custodial cryptocurrency addresses named “Entity A” received and distributed these proceeds, with funds flowing to money services businesses, crypto addresses linked to the Islamic Revolutionary Guard Corps, and an Iranian crypto exchange.

US Senator Lummis: Democrats Still Demand Changes to Clarity Act, Negotiations Endless

U.S. Senator Cynthia Lummis stated that Democrats are still dissatisfied with the final compromise version of the crypto market structure bill circulated by Senate Republicans over the weekend and are demanding further changes. Lummis said Democrats always want more, and if they wait another month, they will want even more, with no end in sight. She stated that the negotiations have already made a series of major concessions to Democrats, counting 114 individual policy concessions in the bill, the most significant being a provision restricting government officials from maintaining personal business ties with the industry, primarily targeting President Trump. She expressed surprise that Trump agreed to a second round of modifications to ethical constraints on himself and other officials. Lummis is unsure whether Tuesday’s vote will secure the at least 60 votes needed to advance. She stated that this is the best version possible and Democrats should accept the bill.

AI Networking Technology Company Cornelis Raises $205 Million to Compete with Nvidia Using Open Architecture

AI networking technology company Cornelis announced it has raised $205 million in funding, led by IAG Capital Partners. The company, spun out from Intel in 2020, develops networking technology to help AI chips communicate more efficiently and has released a product called Active Compute Fabric, addressing the problem of significant GPU time wasted waiting for data to arrive by enabling chips to process and send information simultaneously. Cornelis competes with Nvidia using an open architecture, allowing customers to use various GPUs and accelerator hardware on its network architecture. Although Nvidia chips can technically run on other network architectures, they are optimized for Nvidia’s own software, making customers more inclined to use Nvidia’s full GPU stack. Cornelis has begun shipping products and is developing a next-generation product expected to launch later this year.

OpenAI Acquires Smartphone Camera Manufacturer Glass Imaging for Over $300 Million

OpenAI has acquired smartphone camera manufacturer Glass Imaging in a deal valued at over $300 million. Glass Imaging uses AI to overcome the physical size limitations of smartphone cameras. Rather than editing photos with AI after they are taken, it uses neural networks to learn different camera systems, generating better images from the moment the shutter is pressed. Founded in 2019 and headquartered in Los Altos, California, Glass Imaging had previously raised approximately $30 million from investors. The company was founded by former Apple engineers Ziv Attar and Tom Bishop, who previously led the team that developed Apple’s Portrait Mode. There have been previous rumors that OpenAI is developing its own hardware, such as smartphones, headphones, and AI companion devices.

Bitwise’s BHYP ETF wallet deposits 84,300 HYPE into Coinbase, possibly preparing to sell

Bitwise’s BHYP ETF wallet deposited 84,320 HYPE (approximately $6.71 million) into Coinbase 6 hours ago, possibly for sale.

0x: Over half of Uniswap v4 Hooks exhibit malicious behavior, some transactions actually receive 50% less than quoted price

DEX aggregator 0x stated that the number of malicious Uniswap v4 Hooks has risen significantly recently. These Hooks offer attractive prices during quote requests but change the execution price at settlement, stealing user funds via aggregators, wallets, and trading applications. After analyzing 84,163 Hooks across 6 chains, as of September 11, 0x classified only 19.4% as safe, 54.2% as malicious, and 26.4% as suspected malicious. After some transactions were routed through malicious Hooks, users’ actual received assets were up to 50% less than the quoted price. 0x revealed that it has routed 81.92 million transactions and $42.67 billion in trading volume this year, with approximately 70% involving Uniswap liquidity. 0x has now blocked relevant malicious pools from routing through detection technology and fund pool audits.

Alameda transfers $9.47 million in SOL to Coinbase Prime, remaining holdings valued at $270 million

Alameda Research sent $9.47 million in SOL to Coinbase Prime last night, the latest in a distribution process lasting over two years. It still holds $270.15 million in SOL on-chain.

US Democrats oppose latest Republican CLARITY Act revision, preparing to propose counterproposal

Senate Democrats involved in the crypto market structure bill are preparing to propose a counterproposal to the latest revised text of the Clarity Act from Republicans, despite Republican lawmakers calling it their “last, best, and final offer” to Democrats when releasing it on September 13. Democrats met on September 14 in Senate Minority Leader Chuck Schumer’s office, with some Democrats still dissatisfied with the crypto ethics provisions in the latest bill text. Senator Mark Warner told Politico upon leaving the meeting that Democrats who have been engaging in good faith on this work are sending a counterproposal. The counterproposal comes ahead of a key procedural vote in the Senate on September 15, which will determine whether the Senate can advance the bill to full floor consideration.

US House crypto tax plan reviewed Wednesday does not address how mining and staking rewards are taxed

The US House Ways and Means Committee’s Wednesday review included a 114-page crypto tax plan, but it did not address how mining and staking rewards are taxed.

Two wallets dormant for over a year deposit approximately $36.94 million in ETH into OKX

Two wallets dormant for over a year (possibly belonging to the same whale) deposited 14,700 ETH ($36.94 million) into OKX over the past 9 hours.

Analyst: Bitcoin is breaking out of the bottom and starting an uptrend, long-term holder SOPR rises above 1

CryptoQuant analyst CW8900 noted that Bitcoin is breaking out of the bottom and starting an uptrend, with the Spent Output Profit Ratio (SOPR) for long-term holders (LTH) rising above 1, signaling a market shift from bearish to neutral and the start of a full upward trend. He emphasized that SOPR has not exceeded 6 in this cycle, while historically cycle tops typically form in this range, meaning long-term holders have not yet entered a profit-taking phase and the true bull market rally has not yet occurred. Everything before was the preparation phase for the current uptrend. LTH holdings are at all-time highs and continued to accumulate until recently. He believes the real rally is now beginning, and the cycle top will appear in the profit-taking range where SOPR exceeds 6.

Source: www.panewslab.com