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Stablecoin payment infrastructure Fin.com completes $20 million seed round, with participation from Coinbase Ventures and others
New York-based payment infrastructure company Fin.com has emerged from stealth, completing a $20 million seed funding round led by Expa and Uber co-founder Garrett Camp, with participation from Coinbase Ventures, Tenet Fund, the founding team of Figure, Mesh founder Bam Azizi, Second Sight Ventures, and sovereign wealth funds and royal family offices from the Gulf and Africa regions. The valuation was not disclosed. The company provides white-label payment infrastructure to financial services firms, consumer platforms, and prediction markets, focusing on the “last mile” of converting stablecoins into local bank accounts or wallets.
CLARITY Act vote time set: Faces Senate test tomorrow at 1:15 AM
The highly anticipated vote on the CLARITY Act has been scheduled, taking place at 17:15 UTC (1:15 AM Beijing time tomorrow). Additionally, according to information disclosed on the U.S. Congress website, the next session of the U.S. Senate will begin at 10:00 AM Eastern Time on September 15 (22:00 Beijing time on September 15). It is reported that this vote is on a procedural motion to “end debate and proceed to consideration of the bill,” requiring 60 votes to open subsequent debate. Republicans hold 53 seats, meaning at least 7 Democratic senators’ support is needed. Prediction markets currently give the bill roughly a 25% probability of final passage. The White House has previously agreed to add new ethics clauses to win Democratic support.
Binance to remove multiple USDC leveraged trading pairs including ENJ/USDC on September 18 at 14:00
Binance Margin will remove the cross-margin trading pairs ENJ/USDC, GENIUS/USDC, CVX/USDC, GUN/USDC, VANA/USDC, and the isolated margin trading pair GENIUS/USDC starting from 14:00 on September 18, 2026.
Solana transaction size limit more than doubled to 4096 bytes
Solana’s Transaction V1 was activated on the mainnet around 9:00 AM Beijing time on September 15, increasing the maximum size of a single transaction from 1232 bytes to 4096 bytes. With this expansion, developers can perform more complex atomic operations within a single transaction, such as enterprise multi-signature approvals, zero-knowledge proof applications, and merging multi-step transactions. This upgrade changes the data capacity of a single transaction and does not affect transactions per second (TPS). The old format can still be used for sending, but wallets and data services need to adapt to read V1 transactions.
Crypto wallet Tonkeeper renamed to Keeper, expands network support to 7 chains
The TON ecosystem wallet Tonkeeper has been renamed to Keeper, expanding supported networks from TON to a total of 7 chains including Bitcoin, Ethereum, TRON, BNB Smart Chain, Arbitrum, and Base, with over 77 million registered users. Andrew Rogozov, founder and CEO of The Open Platform, stated the goal is to become the default self-custody wallet for the multi-chain world. The platform took over operations last month, with future plans including native DeFi services, cross-chain swaps, and perpetual contract trading.
US Treasury Secretary Bessent to testify before House Financial Services Committee at 22:00 tonight
US Treasury Secretary Bessent will testify before the US House Financial Services Committee at 22:00 tonight, with the hearing topic being “The Secretary’s Annual Testimony on the State of the International Financial System.” Given that the 10-year US Treasury yield has risen above 5%, the market will focus on whether Bessent releases new signals regarding fiscal policy, Treasury issuance and buyback plans, debt management, and the outlook for the dollar and interest rates. If his remarks lean towards controlling the deficit and stabilizing the bond market, it may ease upward pressure on long-end Treasury yields. If he signals more fiscal expansion or tolerance for high interest rates, one should be wary of further increases in Treasury yields and pay attention to the linked reactions of the dollar, gold, US stocks, and risk assets.
Stablecoin payment company Velocity Series A round expanded to $48 million
London-based stablecoin payment infrastructure company Velocity has completed a $10 million Series A extension round, bringing the total round to $48 million with a post-money valuation of $200 million. Investors include Visa Ventures, Circle Ventures, Haun Ventures, Ripple, Translink Capital, and Mirana Ventures. Velocity provides payment companies and banks with a backend system for settlement, liquidity management, and treasury operations using stablecoins, without requiring them to replace their existing infrastructure. The company had just completed a $38 million oversubscribed Series A in July this year. Co-founder and CEO Eric Queathem stated that previously “no one fixed the backend layer.”
White House Council of Economic Advisers to launch tool to counter banking industry concerns about stablecoins
The White House Council of Economic Advisers (CEA) will launch an interactive tool on Tuesday allowing users to set their own parameters and run scenarios to support its previous conclusion that “there is no substantial correlation between stablecoin growth and deposit outflows from community banks.” This move aims to win over Senate Republicans to advance the CLARITY Act and to respond to banking industry groups, who said Monday that the latest amendments to the bill still do not alleviate their concerns about stablecoin provisions. Several Republican senators have hinted they may vote against it, while pro-crypto Democrats are dissatisfied that the ethics clauses do not sufficiently constrain Trump. The bill needs at least 60 votes to advance.
ByteDance H1 revenue up 30% YoY to $120 billion, profit falls to $20 billion
According to Zhitong Finance, citing three people familiar with the financial data, ByteDance has increased its investment in the artificial intelligence field, causing net profit in the first half of this year to decline by a single-digit percentage to $20 billion. The sources said that the company’s revenue in the same period increased by about 30% year-on-year to $120 billion, partly due to strong growth in TikTok’s international advertising and e-commerce revenue. This means ByteDance’s growth rate has slightly accelerated compared to the past two years. The sources indicated that ByteDance’s revenue grew 29% last year to approximately $200 billion, with a similar growth rate in 2024; the company’s net profit grew 27% last year to $42 billion. The data also shows ByteDance’s revenue is catching up to Meta Platforms. Meta’s H1 revenue also grew 30% to $117 billion. The valuation gap between the two companies is significant: CapLight data tracking secondary market transactions shows Meta’s market cap is $1.7 trillion, while ByteDance’s valuation is approximately $630 billion.
EU countries to discuss AI rules on Thursday
According to two EU diplomats and a draft agenda, government officials from EU countries will gather in Brussels on Thursday to discuss how to formulate global rules to address threats posed by new types of AI models. The European Commission will “update on the latest developments in EU and international AI policy” and provide a “technical briefing on recent AI incidents” during a meeting of the AI Committee. This committee, composed of representatives from each EU member state, meets regularly to oversee the implementation of the EU’s AI Act. One diplomat said the discussions on global cooperation among European countries will focus on work carried out by the G7, G20, and the United Nations.
Opinion: US 10-year Treasury yield approaching 5.25% key threshold could trigger simultaneous stock and bond sell-off
The U.S. 10-year Treasury yield rose above 5% this week and is approaching the historically critical level of 5.25%. The article points out that when the 10-year yield remains above 5.25% for an extended period, stock and bond prices tend to move in the same direction, and Treasuries no longer hedge against U.S. equities but instead amplify portfolio losses. If yields continue to rise, U.S. bond volatility and the VIX index are expected to increase, high-yield bond credit spreads will widen, and the market will face higher discount rate uncertainty and liquidity pressure. The author believes that under structural inflationary pressures, strengthening commodity prices, and uncertainty ahead of the FOMC meeting, if the 10-year yield stays above 5.25% for a period of time, global asset pricing and trading conditions will undergo significant changes.
OpenAI hires hundreds of outptimize the model
OpenAI is hiring hundreds of outsourced reviewers to continuously read and annotate real user conversations with ChatGPT, used to improve the quality of model responses. These reviewed contents include complete conversations between users and ChatGPT, with some conversations containing sensitive information such as personal privacy. Internal documents show that reviewers are used to train ChatGPT to reduce self-anthropomorphism and decrease “sycophantic” responses. Previously, OpenAI’s 4o model’s excessive ingratiation was linked in multiple lawsuits to user suicides. OpenAI stated that it attempts to remove personal information before conversations are submitted for review but acknowledged that sensitive content may still be retained. Anthropic has also confirmed using a similar manual review mechanism to train its models.
US media: OpenAI supports bipartisan House proposal on AI safety regulation
AI giant OpenAI supports a bipartisan U.S. House proposal that would require top AI companies to bring in external evaluators to ensure the safety of their models. OpenAI’s head of global affairs, Chris Lehane, said Tuesday that the company supports a key provision in the FRONTIER Act. The bill, introduced by Republican Rep. Jay Obernolte and Democratic Rep. Lori Trahan, aims to establish the first federal-level AI safety framework in the United States. The bill includes several provisions, including requiring top AI labs to allow “Independent Verification Organizations” (IVOs) inside the companies to ensure models are developed safely. Lehane said he met with one of the bill’s sponsors on Monday during a meeting on Capitol Hill and “specifically discussed how we view IVOs and made it clear we could support that arrangement.”
Bessent: (Asked about Tuesday’s rise in bond yields) This is attributed to “global issues”
U.S. Treasury Secretary Bessent: (Asked about Tuesday’s rise in bond yields) This is attributed to “global issues.”
Abraxas Capital buys another 13,700 ETH spot, short position approaches $1 billion
Abraxas Capital bought another 13,700 ETH spot today, worth approximately $34.24 million. At the same time, its total short position on Hyperliquid has approached $1 billion, including 178,532 ETH short positions with a notional size of approximately $437 million.
Kazakhstan to establish national-level cryptocurrency analysis center
Timur Suleimenov, Governor of the National Bank of Kazakhstan, announced at a government meeting that a national cryptocurrency analysis center will be established based on the central bank’s SupTech platform to monitor transactions related to digital assets. The center will simultaneously analyze fiat currency and cryptocurrency transaction data, as well as customer, wallet, and transaction information, and will be connected to the National Bank’s anti-fraud center. Banks, law enforcement agencies, and licensed digital asset service providers will be granted access to its verification tools. Previous reports showed that the scale of digital asset transactions in Kazakhstan has reached $10.6 billion.
U.S. Treasury Secretary Bessent: A new “industrial super cycle” is unfolding
U.S. Treasury Secretary Bessent’s testimony before the House was interrupted by anti-war protesters who unfurled banners protesting war against Iran. Bessent stated: We are now ending the Iranian threat, not “managing” it. Have seen “forward-looking statements” from the UAE regarding Iran. U.S. Treasury officials recently visited the UAE and had good talks. On the economy, he said real wage growth exceeds inflation and jobs are increasing. A new “industrial super cycle” is unfolding. (Regarding the 10-year Treasury yield) Rising oil prices are the main reason.
U.S. Treasury Secretary Bessent: When the deficit reaches 3% of GDP, we can start paying down debt
U.S. Treasury Secretary Bessent said at the hearing: Coordination on AI and cybersecurity has been ongoing for 6 months. Large banks have good cybersecurity resilience. The 3% fiscal deficit target is crucial for the U.S. debt curve. When the deficit reaches 3% of GDP, we can start paying down debt.
U.S. House Speaker Johnson: AI company executives expected to go to the White House within the next week
U.S. House Speaker Johnson: We cannot pause the development of artificial intelligence. Will not allow (the U.S.) to lose its competitive advantage in AI. AI company executives are expected to go to the White House within the next week.
U.S. Treasury Secretary Bessent: Committed to maintaining the robustness and depth of the Treasury market
Bitwise CIO: U.S. sacrificing crypto market security and investment opportunities for short-term political gains
Bitwise Chief Investment Officer Matt Hougan commented on U.S. crypto policy discussions, stating that the U.S. had an opportunity to make the crypto industry safer, drive investment, and ensure it continues to lead global financial markets for the next 50 years, but is currently sacrificing this opportunity for short-term political gains.
WTI crude oil futures surge 3.00% intraday, now at $104.95/barrel
WTI crude oil futures surged 3.00% intraday, now at $104.95/barrel.
U.S. Treasury Secretary Bessent: The President’s intention regarding the $5,000 check is “very real”
U.S. Treasury Secretary Bessent called TPLF (Third-Party Litigation Financing) proceeds a “malignant factor” in the financial system. He said the Treasury Department is reviewing the $5,000 check proposal. The President’s intention regarding the $5,000 check is “very real.” It was reported last week that Trump said if Republicans win both chambers of Congress, they will send $5,000 to every American adult.
U.S. Treasury Secretary Bessent: U.S. made tens of millions of dollars on yen intervention
U.S. Treasury Secretary Bessent said at the hearing: Will meet with U.S. House Speaker Johnson if it is clear that congressional authorization is needed. In the field of AI, both innovation and security issues need to be addressed. We are engaged in “the most important fight of a lifetime” for strategic industries. The Treasury’s bond buyback intervention was successful. The funding offset plan for the $5,000 check is “moving forward.” Encouraged lawmakers not to exempt AI from liability. Should not give AI companies a “blank liability check.” Made tens of millions of dollars in the past providing aid to Argentina. We have been in continuous dialogue regarding Japan’s intervention. The U.S. used “notional amounts” in the yen intervention. The U.S. made tens of millions of dollars on the yen intervention. A stronger yen is good for U.S. exporters. A stronger yen means the Japanese government does not need to sell U.S. assets. The U.S. Treasury sent a signal of support to Japan’s policy using notional amounts.
U.S. Treasury Secretary Bessent: We do not set an equilibrium price for yield levels
US Treasury Secretary Bessent: We do not set an equilibrium price for yield levels. Addressing the deficit is one factor affecting the 10-year Treasury yield. He also stated that the Treasury’s recent buyback operations for long-term U.S. Treasuries have been successful, noting strong demand for U.S. Treasuries in the two auctions following the intervention. Although Bessent had described the buybacks as a means to inject liquidity and curb rising bond yields—which were increasing the government’s debt repayment costs—U.S. Treasury yields still rose after the Treasury conducted its largest-ever buyback last week. “We can imagine what would have happened if these measures had not been taken, and we subsequently saw the two most successful Treasury auctions in 20 years,” Bessent said at a congressional hearing. “Since President Trump took office, (the U.S. bond market) has been the best-performing bond market among developed countries.”
Circle (CRCL) stock fell 10.23% intraday, now at $87.39
According to Binance market data, Circle (CRCL) stock fell 10.23% intraday, now at $87.39.
Coinbase (COIN) stock fell 10.12% intraday, now at $172.07
According to Binance market data, Coinbase (COIN) stock fell 10.12% intraday, now at $172.07.
BitMine (BMNR) stock fell 10.08% intraday, now at $23.19
According to Binance market data, BitMine (BMNR) stock fell 10.08% intraday, now at $23.19.
Clarity Act fails to pass US Senate vote, passage rate this year drops to single digits, market dips
On the afternoon of September 15 local time, the US Senate held a procedural vote on cloture for the “Digital Asset Market Clarity Act” (CLARITY Act). The vote required 60 votes to overcome a filibuster and formally open full debate and amendment proceedings, but ultimately failed with 49 votes in favor and 50 against with 49 votes in favor and 50 against (far below the 60-vote threshold, and not even achieving a simple majority). All present Democratic senators and independent senators voted against, and four Republican senators (Susan Collins, Josh Hawley, Jerry Moran, Thom Tillis) also voted against; Democratic Senator Chris Coons was absent (did not vote). Tillis subsequently filed a motion to reconsider, leaving the possibility for further discussion. After the vote failed, Bitcoin fell about 4% in the short term, while crypto-related stocks like Coinbase and Circle fell even more. Prediction market platforms significantly lowered the probability of it becoming law within 2026 to single digits.
US DOJ charges two former Robinhood engineers with front-running listing news
The US Attorney’s Office for the Southern District of New York charged former Robinhood engineers Hefu Chai (36) and Huaisong Xiang (30), alleging that between 2025 and 2026, they stole inside information about upcoming Robinhood Crypto listings, trading related perpetual contracts on Hyperliquid before the announcements, each profiting over $50,000. Each is charged with one count of violating the Commodity Exchange Act (maximum 10 years in prison) and one count of wire fraud (maximum 20 years).
OpenAI considers pre-IPO fundraising, valuation could reach $1.2 trillion
OpenAI has engaged in early discussions with investors regarding another round of private fundraising before its IPO, with a potential valuation of approximately $1.2 trillion, about 41% higher than the $852 billion valuation during its $122 billion funding round completed in March. Sources say the outreach was initiated by investors rather than the company, and the amount could still change in the coming months. Whether to proceed and the timing depend on when OpenAI goes public. CEO Altman said last Saturday that an IPO is unlikely before 2027. OpenAI spent $34 billion last year, and its annualized revenue grew 20% to over $40 billion last month following the release of GPT-5.6.
F2Pool co-founder Wang Chun: KYC requiring “permanent address” discriminates against free movers
F2Pool co-founder Wang Chun criticized the KYC system on platform X, stating that KYC not only means “Kill Your Customers” but also tries to bind people to the land like a feudal system. He said people should have the freedom to migrate and the right to stay in different hotels, and that KYC requiring everyone to provide a “permanent address” is a discriminatory policy against free movers. The post cited previous views from ShapeShift founder Erik Voorhees, who said KYC continuously puts innocent users at risk.
Japanese government bond yields rise across the board, 30-year JGB reaches 4.19%
Japan’s 10-year government bond yield rose to 3.035%; the 20-year yield rose 4.0 basis points to 3.925%; the 30-year yield rose 4.0 basis points to 4.190%.
Clarity Act blocked in US Senate, Jake Chervinsky says “no law is better than a bad law”
Jake Chervinsky, the first CEO of Hyperliquid’s Policy Center and a veteran US crypto lawyer, posted that the US Senate failed to pass the crypto regulatory bill Clarity Act, but that the relevant advocates “did not compromise on principle” during 18 months of research, negotiation, and revision, insisting on “no bill rather than a bad bill.” He stated that due to election-year political games, a “good deal” is hard to reach, but the crypto industry can still operate without the Clarity Act, and the US SEC and CFTC have sufficient power and professional capability to regulate the crypto market. Jake believes that the discussion on crypto regulation has only just begun, and there is still room for future policy prospects.
ChatGPT announces GPT-5.5 model will be deprecated from October 14
OpenAI announced that it will remove the GPT-5.5 model from ChatGPT, ChatGPT Work, and Codex entirely starting October 14. The official recommendation is for developers and teams still using GPT-5.5 in Codex to migrate to GPT-5.6 Sol or GPT-6 Astra as soon as possible to avoid service interruptions or capability changes.
Coinbase CEO: The industry can no longer simply wait for Congress to act; SEC and CFTC already have the tools to set clear rules
The US Senate failed to advance the CLARITY Act, a framework for crypto asset regulation, leaving the bill stalled. Coinbase CEO Brian Armstrong stated that while bipartisan negotiations may continue, the industry can no longer simply wait for Congress to act. He said the US Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) already have the tools within their existing authority to set clear rules, and he expects them to formally begin establishing regulatory standards for the crypto industry. Additionally, he noted that the stablecoin regulatory bill GENIUS is already more lenient in terms of reward mechanisms, and some concessions made during CLARITY negotiations “perhaps no longer need to be insisted upon,” emphasizing that as regulation gradually becomes clearer, crypto technology will continue to drive the renewal of the financial system.
Machi’s high-leverage long ETH account equity drops from $12.3 million to just $1 million
Trader machibigbrother used high leverage to roll over long ETH positions in August, growing a principal of about $150,000 to approximately $12.3 million as ETH rose from around $1,900 to about $2,500. Since September, ETH has experienced multiple narrow-range fluctuations around the $2,400-$2,600 range, frequently triggering stop-losses on his high-leverage long positions. His account equity has now retraced from $12.3 million to about $1 million. EmberCN stated that if the ETH price falls another few tens to one hundred dollars, his remaining positions could be liquidated.
BIS working paper: Estimates of Bitcoin on-chain transfer value differ by up to 6 times due to measurement differences
According to the Bank for International Settlements Working Paper No. 1377, “Hidden Beneath Complexity?”, the estimated value of on-chain Bitcoin transfers can differ by up to six times depending on the measurement method, mainly due to whether change outputs and other amounts returned to the sender are counted. The paper also notes that the traditional market capitalization measure once reached four times the realized capitalization. Based on approximately 100 billion on-chain records from Bitcoin, Ethereum, and TRON, the study found that among Ethereum’s roughly 67.5 million active contracts, about 54 million could not be classified; USDT on Ethereum is more associated with DeFi, while on TRON it leans more toward payments and value storage. The researchers state that on-chain metrics should be regarded as noisy approximations rather than direct measures of economic activity.
Nvidia’s Jensen Huang: AI Safety Can Be Solved by Market Self-Discipline, No New Regulation Needed
Nvidia CEO Jensen Huang stated at a Salesforce event that the AI industry “does not need new laws or new regulations,” calling the choice between “safety” and “development speed” a “false proposition,” and that companies can iterate quickly while ensuring product safety. Huang emphasized that “safety is an engineering problem,” and companies can manage risks by not releasing harmful features and proactively “pressing the pause button” when risks of product losing control arise. He pointed out that market forces have already prompted companies to fully validate AI systems before release, and the industry can improve safety through engineering means under the existing framework without the need for additional legislative intervention.
BlackRock CEO Warns: Opposition to AI Could Make the Technology an Exclusive Domain for Big Companies
BlackRock CEO Larry Fink said at the Canadian Investment Summit that public opposition to data centers, delaying computing power and infrastructure construction, will gradually make artificial intelligence technology an exclusive domain for big companies, limiting access for ordinary businesses and the public. Fink stated that only by rapidly expanding AI-related infrastructure capacity can true technological inclusivity be achieved. Meanwhile, Blackstone President Jon Gray, who also attended, pointed out that if Canada pushes forward with reforms in tax and regulatory policies, its potential economic growth rate could significantly increase; Temasek CEO Dilhan Pillay said that without sufficient capital to accelerate expansion, Canadian AI companies could easily be forced to relocate to the United States.
X Launches Cashtag Broker Partnership Program in the US, First Batch Integrates Five Trading Platforms Including Kraken
X announced the launch of the Cashtag Partner Program in the US, connecting discussions on stocks, ETFs, and cryptocurrencies on the platform with brokerage services from participating partners. The first batch of partner institutions includes Interactive Brokers, Moomoo, Gemini, Kraken, and Coinbase. After users click on a supported Cashtag, they can view asset price charts and related posts on X, and use the newly added “Trade” option to jump to the mobile app or web page of their chosen broker, logging in or registering to complete the transaction. X itself does not execute trades; transactions are completed by the partner brokerages.
Unitree Technology’s Registered Capital Increases to 404 Million Yuan, Registration Authority Changes to Zhejiang Provincial Market Supervision Administration
Unitree Technology Co., Ltd. recently underwent industrial and commercial changes, with its registered capital increasing from 364 million yuan to 404 million yuan; the registration authority changed from the Hangzhou High-tech Industrial Development Zone (Binjiang) Market Supervision Administration to the Zhejiang Provincial Market Supervision Administration.
Source: www.panewslab.com