Morning Report | US stablecoin FRNT to launch on Hedera; Coinbase accelerates embrace of AI programming; Japan's cryptocurrency regulation may tighten
Overview of Important Market Events on September 4th整理：liec，ChainCatcher
Important News:
- Wyoming will launch stablecoin FRNT on Hedera
- American Bitcoin rises nearly 17% on its first day of trading, Eric Trump's shares in the company are worth over $500 million
- Bitcoin's daily hash rate hits a record high of 1.279 ZH/s
- Coinbase CEO: About 40% of daily code is generated by AI, aiming to increase to over 50% by October
- Caixin: Reports say Hong Kong is not very positive about the direction of "Hong Kong stock crypto treasury"
- U.S. SEC announces agenda for cryptocurrency and Wall Street regulatory reforms
- Japan's financial regulator proposes to bring cryptocurrencies under the securities regulatory framework
- Binance Alpha will launch Union (U) on September 4,Tradoor (TRADOOR) on September 8,and OpenLedger (OPEN) on September 8
Key Data from Yesterday :
According to The Block, the Trump family-related Bitcoin mining company American Bitcoin (stock code ABTC) rose nearly 17% on its first day of trading on Nasdaq, reaching $8.04 per share, with an intraday high of about $14. The stock traded over 29 million shares on its first day on Nasdaq.
Bitcoin's daily hash rate hits a record high of 1.279 ZH/s
According to Decrypt, mining data platform CoinWarz shows that Bitcoin's daily hash rate reached a record high of 1.279 ZH/s, despite the asset's price remaining relatively stable over the past 24 hours. The seven-day moving average of Bitcoin's hash rate also reached a high, surpassing 1 ZH/s during this period.
Project Updates from Yesterday :
Binance Alpha will launch Union (U) on September 4,Tradoor (TRADOOR) on September 8,and OpenLedger (OPEN) on September 8
Binance Alpha is the first platform to launch Union (U), with Alpha trading starting at 17:00 (UTC+8) on September 4, 2025. Users must visit the Alpha event page within 24 hours to confirm their airdrop claim, or they will be considered to have forfeited their eligibility. The airdrop has two phases:
- Phase 1: After trading begins, users holding at least 220 Binance Alpha points can participate in the airdrop of 2,700 U tokens, with the event operating on a first-come, first-served basis;
- Phase 2: If the event has not ended, the point threshold will automatically decrease by 15 points every hour. Claiming the airdrop requires consuming 15 Binance Alpha points.
Binance Alpha will launch Tradoor (TRADOOR), with Alpha trading starting at 20:00 (UTC+8) on September 4, 2025. Users holding at least 220 Alpha points can claim an airdrop of 50 TRADOOR tokens.
Binance Alpha will launch OpenLedger (OPEN) on September 8. Eligible users can claim the airdrop using Alpha points on the Alpha event page after trading opens, with more details to be announced soon.
Market News: Kraken has acquired trading platform Breakout
According to market news, cryptocurrency exchange Kraken has acquired Breakout, a proprietary trading platform created by TraderMayne and CryptoCred.
Wyoming will launch stablecoin FRNT on Hedera
The Wyoming Stable Token Committee (WYST) announced that the first stablecoin issued by the state government, Frontier Stable Token (FRNT), will soon launch on the trusted public network Hedera.
FRNT was created under the 2023 Wyoming Stable Token Act and is the first stablecoin issued by a state government in the U.S. It is fully backed by U.S. dollars and short-term U.S. Treasury securities, with an additional 2% reserve held to ensure stability.
Michael Saylor dilutes MSTR shareholder value by $735.2 million
According to Protos, Michael Saylor diluted the value of Strategy (formerly MicroStrategy) common shareholders by $735.2 million just two weeks after promising not to dilute MSTR shareholder value.
Previously, on July 31, 2025, Saylor and his executives assured shareholders during Strategy's second-quarter earnings call that the company would not dilute MSTR to purchase Bitcoin (BTC) between 1x and 2.5x net asset value (mNAV), unless to pay interest or dividends. However, by August 18, Saylor completely revoked this guidance and removed the commitment from the presentation.
BitMine receives 14,665.5 ETH from Galaxy Digital, total holdings valued at $8.32 billion
According to monitoring by @ai_9684xtpa, BitMine received another 14,665.5 ETH from Galaxy Digital, valued at approximately $65.32 million. It currently holds a total of 1.87 million ETH, with a cumulative value of $8.32 billion, which is 2.23 times the holdings of ETH TOP2 entity SharpLink.
Coinbase CEO: About 40% of daily code is generated by AI, aiming to increase to over 50% by October
Coinbase CEO Brian Armstrong revealed that about 40% of the daily code at cryptocurrency exchange Coinbase is generated by artificial intelligence.
Armstrong stated that the company plans to increase this percentage to over 50% by October. He emphasized that while AI-generated code needs to be reviewed and understood, and not all business areas are applicable, the company will responsibly use AI technology wherever possible.
Application chain infrastructure Syndicate will issue tokens this month, 2% for airdrop
Application chain infrastructure Syndicate announced on X that it will release the token SYND this month, with a total issuance of 1 billion tokens, of which 2% will be allocated for community airdrops, 15.89% for investors, and 24.99% for the team. SYND is the native Gas token of the Syndicate Network, powering the application chain.
Bitcoin treasury company The Smarter Web Company will issue 21 million shares of common stock
According to an official announcement, Bitcoin treasury company The Smarter Web Company has signed a new subscription agreement to issue 21 million shares of common stock.
Cumberland receives 10 million WLFI, may have joined the ranks of market makers
According to on-chain analyst Ai Yi (@ai_9684xtpa), Cumberland DRW may have joined the WLFI market makers, having received 10 million WLFI (approximately $2.05 million) from BitGo two hours ago, and there have been frequent small on-chain interactions in the past 24 hours.
Additionally, Cumberland is also one of the market makers for the TRUMP token. If true, WLFI now has three market makers: DWF, Jump, and Cumberland.
Singapore's BlockSpaceForce has partnered with Mainnet Capital to launch a crypto hedge fund focused on investing in crypto asset treasury companies (DATs) and other crypto-related publicly listed companies, targeting a management scale of $100 million.
Investment and Financing Updates from Yesterday
According to Bitcoin.com, the blockchain-based Mecca ecosystem has secured $8 million in strategic investment from a consortium of global investors, including Gemhead Capital, Alpha Capital, BD Ventures, and several well-known Asian family offices.
AI agent development company Supersonik, which can provide real-time multilingual software demonstrations on demand, announced the completion of a $5 million seed round financing, led by Andreessen Horowitz.
It is reported that Supersonik's conversational AI agents can engage in real-time chats, share screens, and guide potential buyers through actual products.
White Star Capital's fund completes $25 million financing, targeting $50 million
Venture capital firm White Star Capital announced that its fund has completed its first round of financing of $25 million, led by Fonds de solidarité FTQ, with a target financing amount of $50 million.
Regulatory & Policy Updates from Yesterday
According to Caixin's report on September 4, New Fire Technology CEO Weng Xiaoqi stated that DAT, cryptocurrency ETFs, and traditional virtual asset exchanges essentially provide entry points for funds into the crypto market; before the emergence of ETFs, exchanges were more mainstream, but now trading mediums are trending towards "lightweight," with DAT seen as a relatively lightweight path for traditional investors to enter the crypto space. Another anonymous senior digital asset investor told Caixin that although Hong Kong has opened DAT, communication with local regulators revealed that Hong Kong is not very receptive to directions such as "Hong Kong stock crypto treasury," and the industry may still need further communication with regulators.
U.S. SEC announces agenda for cryptocurrency and Wall Street regulatory reforms
According to Reuters, the U.S. Securities and Exchange Commission (SEC) has officially announced its regulatory agenda for the coming months, intending to propose rules related to the issuance and sale of cryptocurrencies, which may include exemptions and safe harbor provisions, and is considering allowing crypto assets to be traded on national securities exchanges and alternative trading systems.
Additionally, the SEC plans to simplify disclosure requirements for Wall Street, reducing the compliance burden on the industry. Previously, the SEC had withdrawn lawsuits against crypto trading platforms like Coinbase and Binance.
According to Cointelegraph, Japan's Financial Services Agency (FSA) released a report on Tuesday proposing to shift cryptocurrency regulation from the Payment Services Act to the more stringent Financial Instruments and Exchange Act (FIEA) framework.
This move aims to enhance investor protection and address issues such as unclear information disclosure, unregistered operations, and security risks within the industry, aligning cryptocurrency regulation with securities regulation. The report indicates that Japan already has over 12 million cryptocurrency accounts, with total user deposits reaching 5 trillion yen (approximately $33.7 billion). If the new regulations are implemented, cryptocurrency issuers will face stricter information disclosure requirements, and intermediary services will also be subject to stricter regulation. The proposal is currently an internal briefing document, pending final decisions from the Financial System Council and the government.
Meme Popularity Rankings
According to meme token tracking and analysis platform GMGN, as of September 4, 09:30:
The top five popular Ethereum tokens in the past 24 hours are: Xiaobai, MHRD, LAURA, MYTH, CLANKER
The top five popular Solana tokens in the past 24 hours are: CR7, TSG, 67kid, 100, FRART
The top five popular Base tokens in the past 24 hours are: AERO, SINGULARITY, ZORA, YUNG, VIRTUAL
"What are the must-read articles from the past 24 hours?"
In the 19th century, the American dream was the California gold rush, the freedom of the New World.
In the 20th century, the American dream was transoceanic immigration, the belief that "all men are created equal," and the struggle for a happy life.
In a sense, tokenizing U.S. stocks is the "American dream" of the 21st century.
The trend of asset on-chainization under stablecoin pricing methods
Essentially, the implementation of the stablecoin bill is the starting point for the comprehensive reform of the global financial on-chainization. The second curve of Crypto growth will follow the application scenarios of stablecoins and the tokenization of various assets, combining the flexibility of Crypto finance with the historical experience of traditional finance, forming differentiated development under different regional compliance frameworks.
When slow assets meet fast markets, the liquidity paradox of RWA
On-chain, confidence can evaporate in an instant. A rumor on Twitter, a delayed oracle update, or a sudden sell-off can trigger a chain reaction of automatic liquidations. Buildings do not move, but their tokenized representations can collapse within minutes—dragging down collateral pools, lending protocols, and stablecoins into turmoil.
This is the essence of the RWA liquidity paradox: binding illiquid assets to an ultra-liquid market does not make them safer; rather, it makes them more dangerous.
From search boxes to the financial future: Google is ready to reshape value flow with blockchain
Britney Spears' songs echo from every radio, "The Matrix" makes us question reality, and teenagers around the world are busy burning CDs to create their own mixtapes. The internet is still clunky, requiring a harsh dial-up tone to connect, but it has begun to seep into daily life. That was the late 1990s.
Risk warning
Risk warning
