Morning Report | Kraken's parent company Payward has postponed its IPO to the second quarter of 2027; SEC Chairman expects the Clarity Act to pass this month, stating that the United States will become the crypto capital
September 3 Market Important Events OverviewCompiled by: ChainCatcher
What important events have occurred in the past 24 hours?
SEC Chair Expects the Clarity Act to Pass This Month, Claims the U.S. Will Become the Crypto Capital
According to ChainCatcher, Paul Atkins, the Chair of the U.S. Securities and Exchange Commission (SEC), stated that he expects the highly anticipated Clarity Act to pass in the Senate this month, claiming that the U.S. is poised to become the "crypto capital." Atkins confirmed in an interview with Fox Business that the bill will be voted on in the Senate on September 15, and he anticipates it will pass and eventually be sent to the President for signing. Atkins mentioned that regulators are pushing for relevant rules to help the crypto industry develop, stating, "We are changing past practices to update rules to adapt to the blockchain and crypto asset era." Last week, the SEC submitted a proposal to the White House aimed at clarifying the custodial framework for crypto assets for investment advisors and companies. The Clarity Act aims to establish a regulatory framework that distinguishes whether digital assets are securities, commodities, or stablecoins. The bill passed the House last year but has been stalled for most of this year due to disagreements between banking lobbyists and crypto companies over issues such as whether platforms like Coinbase can pay yields to customers. Some lawmakers attempted to amend the language regarding ethical standards in the bill, while a new bill has been circulating since July that prohibits government officials from promoting crypto assets and profiting from them. However, some Democratic lawmakers believe the relevant provisions are still inadequate, while several pro-crypto Republican lawmakers accuse Democrats of deliberately playing politics and delaying the bill's progress.
Kraken Parent Company Payward Delays IPO to Q2 2027
According to ChainCatcher, two insiders revealed that Payward, the parent company of cryptocurrency exchange Kraken, has postponed its highly anticipated initial public offering (IPO) to as early as the second quarter of 2027. CoinDesk reported in March this year that the company had shelved its multi-billion dollar IPO plans due to a challenging market environment; this delay further extends the much-watched listing process. Payward secretly submitted an S-1 registration statement draft to the SEC in November 2025, shortly after the company completed an $800 million funding round at a valuation of $20 billion, which included a $200 million investment from Citadel Securities. Following the successful listings of Circle and Bullish last year, the crypto industry had initially expected a wave of listings in 2026, but weak coin prices and trading volumes, along with the lackluster market performance of some newly listed digital asset companies, dampened investor enthusiasm. Companies like Grayscale, Consensys, and Ledger have also postponed their listing plans. During the IPO hiatus, Payward has continued to expand beyond its core exchange business, venturing into traditional and crypto derivatives, tokenized stocks, and payment infrastructure through a series of acquisitions and product launches. The company's adjusted revenue for the second quarter was $508 million, a 17% year-on-year increase, with the number of funded accounts rising to 6.6 million and platform assets reaching $40 billion.
Social Graph VC: Data Center Capital Expenditures Will Exceed $1 Trillion in 2026
According to ChainCatcher, venture capital firm Social Graph VC recently released a market entry article stating that data center capital expenditures will exceed $1 trillion in 2026, approximately double the spending of the four major hyperscale cloud providers in 2025. Jensen Huang predicts that by the end of this decade, annual spending could reach $3 to $4 trillion, potentially hitting $10 trillion by 2031. AI investments account for about 0.9% of global GDP and are expected to rise to around 1.4% by 2028. The article states that both Fable 5 and GPT-5.6 have training power consumption below 2GW, costing about $120 billion each. Each generation of models can recoup costs, with laboratory losses stemming from the next generation of models that expand training scales by tenfold. Computing cannot be procured at a single price; H100 rentals are about $1.95/hour in the market, while hyperscale cloud costs $8-9/hour, with hourly rates fluctuating by 137% over the year. Global data center spending is projected to reach about $3 trillion by 2028, with a $1.5 trillion financing gap. The article also mentions that CME plans to list cash-settled H100 and B200 monthly rental futures on NYMEX on October 5, 2026, pending regulatory review, with settlement referencing the Silicon Data Index; ICE has also announced GPU futures based on the Ornn Index.
Garrett Jin: Bitcoin Holds Key Support, Maintains Constructive Outlook Before Year-End Amid Macro Pressure
According to ChainCatcher, BTC OG insider whale agent Garrett Jin released a market perspective stating that the macro environment has tightened significantly this week, with Brent crude oil nearing $95 and the U.S. 10-year Treasury yield breaking above 4.8%, raising market expectations for a Federal Reserve rate hike in September to about 70%. Bitcoin slightly retraced under this pressure but successfully held the key support level at $76,600, then rebounded to the upper range of $77,000. On-chain cost basis data shows that a significant amount of new supply has formed in the $75,000 to $80,000 range, providing strong support for the market; the $80,000 to $82,500 range is currently the largest resistance zone. A daily close above $82,500 and a successful retest confirmation would be a key signal for supply clearance. In terms of ETF flows, there was a net inflow of about $3.5 billion into U.S. spot ETFs in August, but September started with two-way flows, with a net outflow of about $237 million on Tuesday, and retail activity has also cooled. On the downside, if the daily close falls below $76,600, and ETF flows, Coinbase premiums, and 7-day net realized gains and losses all weaken simultaneously, it will be seen as a clear warning signal. This Friday's non-farm payroll data will be the next important macro testing point; if the data is hot, it will strengthen rate hike expectations, and the $76,600 support may come under pressure again.
Dubai VARA Signs MoU with Securitize to Advance Tokenization Innovation
According to ChainCatcher, Cointelegraph reported that the Dubai Virtual Assets Regulatory Authority (VARA) has signed a memorandum of understanding (MoU) with Securitize, a tokenization platform supported by BlackRock, to advance tokenization and digital asset infrastructure development in the UAE and Dubai. Both parties stated that the agreement will establish a collaborative framework to support regulated tokenization initiatives, promote institutional participation, and strengthen Dubai's digital asset ecosystem. A VARA spokesperson stated that the MoU aims to combine VARA's regulatory perspective with Securitize's experience in institutional tokenization to determine how cooperation can help Dubai develop a trustworthy, regulated tokenization market, with no specific projects announced at this stage. Securitize co-founder and CEO Carlos Domingo stated that Dubai is one of the most forward-looking jurisdictions for digital asset innovation globally, and collaboration with regulators is crucial for tokenization to transition from concept to mainstream financial infrastructure. This announcement comes as demand for tokenized assets continues to rise. According to RWA.xyz data, the total number of tokenized asset holders has increased by 103% to 3.2 million over the past 30 days, and the total value of tokenized assets has grown by 2% to $38.5 billion. Securitize is currently the largest tokenization platform globally, managing tokenized assets worth $4.9 billion, with Ondo Finance in second place at $3.5 billion.
Ondo Urges U.S. SEC and CFTC to Regulate U.S. Stock Perpetual Contract Business
According to ChainCatcher, Ondo Finance is urging U.S. regulators to bring stock-indexed perpetual contracts under regulation, arguing that under the existing securities futures framework, the product can operate in compliance without new rules. In three comment letters sent to the SEC and the Commodity Futures Trading Commission (CFTC) on August 24, Ondo stated that existing rules can accommodate stock perpetual futures while considering modern margin practices and on-chain listing data. Ondo noted that its Panama-based affiliate has been offering stablecoin-settled perpetual contracts indexed to U.S. stocks overseas, with a cumulative trading volume of $8 billion since its launch in June, as of August 14. Ondo believes that regular funding rate payments can keep perpetual contracts aligned with the underlying stock prices, functioning similarly to traditional futures' expiration settlements. In its letter, Ondo stated that there are no provisions in the statutory definition of securities futures products requiring a fixed expiration date. The company also pointed out that many offshore perpetual contracts are primarily traded on U.S. exchanges, and bringing the relevant business back to the U.S. should be a direction actively promoted by both agencies. According to RWA.xyz data, Ondo is one of the largest managers in the tokenized real-world assets (RWA) space, with a distribution value of approximately $2.6 billion as of Wednesday, ranking fourth. Ondo's proposal comes as U.S. regulators are re-evaluating existing market rules for on-chain products, including perpetual contracts and tokenized securities. In March of this year, the SEC and CFTC signed a memorandum of understanding to coordinate regulatory oversight in overlapping areas of jurisdiction.
Bybit Appoints Sean Ballard as Head of Derivatives and Institutional Business
According to ChainCatcher, cryptocurrency exchange Bybit announced the appointment of Sean Ballard as the head of derivatives and institutional business. Ballard will play a key role in strengthening trading infrastructure, risk frameworks, and institutional capabilities, covering trading risk and exchange technology. Ballard has over 25 years of experience in global financial markets, encompassing derivatives, high-frequency trading, trading risk, market structure, and exchange technology. Before joining Bybit, he worked at Jump Trading, where he led the company's high-frequency futures trading business in the U.S., Europe, the Middle East, Africa, and Latin America, managing portfolios and collaborating with global exchanges and regulators on market structure, trading performance, and infrastructure. During his time at Jump Trading, he also served as a senior trader on the Jump Crypto team, managing centralized exchange trading and driving strategic partnerships for ecosystem growth. At Bybit, Ballard will enhance the institutional trading experience through market infrastructure, risk management, and product development. Over the past year, Bybit Institutional has added professional services such as bank tripartite arrangements, allowing institutions to manage counterparty risk through regulated custody while retaining full trading authority; the market maker gateway has reduced latency for high-frequency and quantitative clients from 4 milliseconds to 1.5 milliseconds. Starting July 2026, Finloop's AAA-rated U.S. dollar money market fund FUIDL will be available as trading collateral on Bybit.
Bank of America Says Non-Farm Payrolls May Not Be a Factor for September Rate Hike, Still Predicts Rate Increase
According to ChainCatcher, as the bond market experiences significant volatility, investors are awaiting two key U.S. data sets that could impact Federal Reserve decisions: the August non-farm payroll report to be released this Friday and the August CPI data to be published on September 11. However, from Bank of America's perspective, these two data points carry different weights for the Federal Reserve's meeting on September 15-16. The bank believes the non-farm payroll report is more like an "appetizer," while the "main course" that will truly determine whether the Fed raises rates is the CPI. Bank of America analysts stated on Wednesday, "The non-farm payroll is unlikely to be the decisive factor for a September rate hike. A significantly weak report may reduce the likelihood of a rate hike, but the CPI remains the key data for determining whether the Fed will follow through on a rate increase. We maintain our judgment for a September rate hike." Unless the non-farm data released on Friday shows a significant downside surprise, the employment report is unlikely to be the final deciding factor in the September FOMC meeting. The bank particularly emphasized that inflation remains the primary concern for the current Federal Reserve.
Thailand SEC Finalizes Cryptocurrency "Travel Rule," Effective February 2027
According to ChainCatcher, Cryptopolitan reported that the Thailand Securities and Exchange Commission has officially finalized the cryptocurrency "travel rule," requiring digital asset operators to identify the sender and receiver of each crypto transaction, effective February 27, 2027, after which non-compliant transfers will be prohibited. Operators must establish transfer risk policies, collect identity data of customers and counterparties, transmit sender and receiver information with transfers, and retain transaction records for at least five years (with the first two years requiring on-demand availability per regulatory requirements). One of the most challenging aspects is requiring operators to verify that users have control over funds in self-custody wallets. The new rules aim to prevent money laundering and terrorist financing, aligning Thailand's regulatory standards with those of the Financial Action Task Force.
Circle President, Former CFTC Chair: Congress Should Next Pass the CLARITY Act to Improve Digital Asset Regulation
According to ChainCatcher, Circle President and former CFTC Chair Heath Tarbert stated at a hearing before the U.S. House Financial Services Committee that the GENIUS Act has established a federal regulatory framework for payment stablecoins, equivalent to building a "dollar layer" for the internet financial system. He called on Congress to next pass the CLARITY Act to complete the long-term regulatory framework for the "market layer" of digital assets. Additionally, Tarbert urged that the final implementation rules of the GENIUS Act should close regulatory arbitrage opportunities for offshore stablecoins, requiring intermediary institutions that serve U.S. customers to face corresponding restrictions and ensuring that foreign stablecoin issuers meet truly comparable regulatory standards.
AI Security Company HiddenLayer Completes $100 Million Series B Financing, Investors Include Microsoft, Morgan Stanley
According to ChainCatcher, Securityweek reported that AI security company HiddenLayer has completed a $100 million Series B financing round, led by Delta-v Capital, with participation from Booz Allen Ventures, Microsoft's M12, Morgan Stanley, and Ten Eleven Ventures. To date, the company has raised over $155 million in total funding. HiddenLayer focuses on protecting the full lifecycle security of generative AI, predictive AI, and AI agents, with its enterprise platform covering AI asset discovery, AI supply chain security, attack simulation, and runtime protection. The new funds will primarily be used to expand the runtime security capabilities of AI agents, particularly for AI programming agents.
Federal Reserve Governor Waller: Will Consider Supporting Rate Hike in September if August Inflation Data is Strong
According to ChainCatcher, Federal Reserve Governor Waller stated that he would consider supporting a rate hike in September if the inflation data for August performs strongly, noting that communication regarding the response function helps the public plan, and a tighter policy stance may not require a significant acceleration in inflation.
Colombian Fintech Company Plenti Completes $3 Million Seed Round Financing: Tether Leads
According to ChainCatcher, Crypto Briefing reported that Colombian fintech company Plenti has completed a $3 million seed round financing, led by Tether, with participation from Verda Ventures. The new funds will support Plenti's existing business in Colombia and expand into Peru and Bolivia. Founded in 2022, Plenti provides multi-currency account services for freelancers and remote workers, allowing users to hold U.S. dollars, euros, and Colombian pesos, earn interest on balances, and invest in U.S. stocks, ETFs, digital gold, and crypto assets. The company has served over 150,000 active users, with an annual transaction volume exceeding $3.1 billion, and has processed over 680 million USDT since 2023.
Apple Faces $2.7 Billion Class Action Lawsuit: Accused of Unfair App Tracking Rules Favoring Its Own Advertising Ecosystem
According to ChainCatcher, Reuters reported that Apple is facing a class action lawsuit in London, with claims amounting to £2 billion (approximately $2.7 billion). The lawsuit was filed today in the London Competition Appeal Tribunal by former senior officials of the UK's Competition and Markets Authority, led by Ann Pope, representing app developers. The core accusation is that Apple's "App Tracking Transparency" (ATT) feature, launched in 2021, imposes stricter restrictions on third-party developers compared to its own services, giving Apple's advertising ecosystem an unfair competitive advantage. Ann Pope stated that Apple's policies "have caused significant harm to businesses that rely on Apple as a gatekeeper." Since its launch, the ATT feature has been a focal point of scrutiny for global regulators for years. Apple's official stance is that the feature is designed to allow users to control whether to permit apps to track their activities across other companies and websites. However, the plaintiffs argue that the actual enforcement of this rule exhibits a double standard—tracking requests from third-party apps require strict pop-up authorization, while Apple's own personalized ads and services can bypass similar restrictions. This lawsuit is the latest legal challenge Apple faces regarding its ATT policy and is the first large-scale private antitrust lawsuit initiated in the UK market following scrutiny from the EU, the U.S., and multiple other regulators.
Hyperscale Data Halts Bitcoin Mining in Michigan, Bitcoin Holdings Have Shrunk by Approximately 79%
According to ChainCatcher, U.S. publicly traded company Hyperscale Data has terminated all Bitcoin mining operations at its facility in Michigan to convert the site into infrastructure for AI data center clients. The company announced on Wednesday that all Bitcoin mining machines in the facility have been shut down following an inspection by an unnamed California neocloud provider, and plans to sell the related mining equipment. Hyperscale Data stated that the client has signed a 10-year master service agreement, contracting 20 megawatts (MW) of AI computing power, with two optional five-year extensions. The company estimates that this agreement could generate over $1.2 billion in revenue over its maximum 20-year term, and if the client exercises an additional 32 MW option, potential revenue could exceed $3 billion, with the site expected to ultimately support 340 MW. However, the company also cautioned that its expansion plans are still in the preliminary stages and depend on financing, approvals, and other risks. Meanwhile, Hyperscale has significantly reduced its Bitcoin holdings to fund AI construction. Affected by factors such as the company's completion of a four-for-one reverse stock split, its stock price closed at $0.1984 on Wednesday, down about 17%, marking a record low after the split adjustment. According to BitcoinTreasuries.NET data, the company currently holds approximately 215 Bitcoins, valued at about $16.7 million, down about 79% from around 1,006 Bitcoins at the end of July, ranking 84th among publicly traded companies tracked on the platform.
Data: Ethereum Spot ETF Saw Total Net Outflow of $48.0764 Million Yesterday, First Net Outflow After 12 Days of Net Inflows
According to ChainCatcher, based on SoSoValue data, yesterday (Eastern Time September 2), Ethereum spot ETFs experienced a total net outflow of $48.0764 million. The Ethereum spot ETF with the highest single-day net inflow yesterday was Blackrock's Staked ETH ETF ETHB, with a net inflow of $52.9147 million, bringing ETHB's historical total net inflow to $758 million. The second highest was 21Shares ETF TETH, with a single-day net inflow of $2.0267 million, bringing TETH's historical total net inflow to $22.8026 million. The Ethereum spot ETF with the highest single-day net outflow yesterday was Blackrock's ETF ETHA, with a net outflow of $53.3529 million, while ETHA's historical total net inflow stands at $12.744 billion. As of the time of writing, the total net asset value of Ethereum spot ETFs is $14.995 billion, with an ETF net asset ratio (market cap relative to Ethereum's total market cap) of 5.13%, and a historical cumulative net inflow of $13.025 billion.
Data: Bitcoin Spot ETF Saw Total Net Inflow of $101 Million Yesterday, Blackrock IBIT Leads with $115 Million Net Inflow
According to ChainCatcher, based on SoSoValue data, Bitcoin spot ETFs experienced a total net inflow of $101 million yesterday. The Bitcoin spot ETF with the highest single-day net inflow was Blackrock's ETF IBIT, with a net inflow of $115 million, bringing IBIT's historical total net inflow to $63.485 billion. The second highest was Grayscale's Bitcoin Mini Trust ETF BTC, with a single-day net inflow of $30.4166 million, bringing BTC's historical total net inflow to $2.897 billion. The Bitcoin spot ETF with the highest single-day net outflow yesterday was Grayscale's ETF GBTC, with a net outflow of $56.2127 million, while GBTC's historical total net outflow stands at $27.662 billion. As of the time of writing, the total net asset value of Bitcoin spot ETFs is $97.221 billion, with an ETF net asset ratio (market cap relative to Bitcoin's total market cap) of 6.26%, and a historical cumulative net inflow of $54.712 billion.
Berkshire CEO: Plans to Hold Long-Term Stakes in Japan's Five Major Trading Companies, AI Data Centers Present Energy Opportunities
According to ChainCatcher, Berkshire Hathaway CEO Greg Abel stated in an interview with CNBC that the company plans to hold stakes in Japan's five major trading companies as long-term investments, expecting to hold them for decades. Currently, Berkshire holds over 10% of shares in each of the five trading companies and is continuously exploring other collaboration opportunities in Japan and abroad with these firms. Abel also stated that despite the yield on Japan's 10-year government bonds rising to about 3%, the five major trading companies do not view the rising interest rates as a fundamental challenge, and Berkshire plans to continue issuing yen bonds as needed. Regarding AI investments, Abel noted that the rapid development of artificial intelligence and the practical applications of AI in Berkshire's subsidiaries are among the key reasons for the company's positive outlook on Alphabet. Concerning AI data center construction, he believes that energy supply and related infrastructure development remain major constraints, which also presents significant opportunities for Berkshire and Berkshire Energy. Abel pointed out that the company is willing to provide energy services for large tech companies' data centers, provided it does not harm the interests of other customers and should bring net benefits to local communities. In terms of the U.S. housing market, Abel stated that Berkshire takes a long-term view of the housing industry, believing that the "American Dream" will continue, but a rapid recovery is unlikely in the short term, and the industry may face volatility for some time. Regarding the overall economy, he stated that most of Berkshire's large businesses performed strongly as of the second quarter, with demand remaining robust, but U.S. consumers are still under significant pressure and need to be more cautious in managing their income; overall, the economic fundamentals that Berkshire currently sees remain "very strong."
xAI and Former CFO of X Join Coinbase Board
According to ChainCatcher, The Block reported that Coinbase has appointed Anthony Armstrong to its board of directors and has joined the audit and compliance committee. Anthony Armstrong previously served as CFO of xAI, X.AI Corp, and X Corp, and worked at Morgan Stanley for nearly a decade, serving as vice chairman of investment banking before joining the U.S. Department of Government Efficiency (DOGE) as a senior advisor. Coinbase described him as having "an outstanding record in efficient execution and a knack for building scalable operational systems." With this appointment, Coinbase's board has increased from 9 to 10 members. SEC filings disclose that Anthony Armstrong has no familial relationship with Coinbase CEO Brian Armstrong.
Glassnode: Bitcoin Will Remain in Range Consolidation, Resistance at $83,000 to $86,000
According to ChainCatcher, Glassnode released a report stating that a short squeeze in mid-August drove Bitcoin's rebound, breaking above $80,000 on August 27, but the price subsequently encountered resistance in the long-term supply zone above, falling back to around $76,000 and triggering a series of long liquidations. Currently, there are still a large number of potential short liquidation positions clustered between $83,000 and $86,000, while there is an undigested long liquidation zone between $60,000 and $63,000, with BTC positioned between the two. On-chain data shows that when Bitcoin traded around $78,000 in May this year, about 65% of the supply was in profit; by the end of August, when it returned to the same price level, that ratio had risen to 68%. The summer's chip redistribution pushed the cost basis of short-term holders to around $71,000, and the same price now would activate more profit-taking chips, increasing potential selling pressure. Considering the cost basis and chip distribution, the $62,000 to $65,000 range serves as an accumulation support zone, while $83,000 to $86,000 is the concentrated supply zone for long-term holders. The average net inflow of U.S. Bitcoin spot ETFs during the rebound reached a maximum of $290 million per day, but the secondary market's daily trading volume remained around $3 billion, significantly lower than during previous expansion phases. Meanwhile, the U.S. 10-year Treasury yield briefly fell to 4.6% after the Treasury's repurchase announcement on August 19, but returned to 4.8% in just 8 trading days, setting a new high for this cycle, indicating that sovereign debt pressures continue to impact market valuations. In the options market, short-term optimism has cooled, while long-term options demand remains. The open interest of Deribit and IBIT options expiring on September 25 is approximately $14 billion, with a large number of positions concentrated above $80,000, which may become important volatility and position anchors in the coming weeks. Until the supply above $83,000 to $86,000 is digested, BTC will continue to maintain range consolidation, with $62,000 to $65,000 being the main downward reference area.
Nanya Technology Reports August Revenue of NT$44.69 Billion, Year-on-Year Increase of 560.85%
According to ChainCatcher, Taiwanese DRAM manufacturer Nanya Technology (stock code: 2408) announced on September 2 that its unaudited consolidated net sales for August 2026 were NT$44.690268 billion, an increase of 1.88% from NT$43.867609 billion in July, and a year-on-year increase of 560.85% from NT$6.762501 billion in August 2025. The company also disclosed that its consolidated sales from the beginning of 2026 to date amount to NT$220.194 billion, a year-on-year increase of 638.19%. Detailed data can be found in the investor relations section of the company's official website or on the Taiwan Stock Exchange website.
Ukrainian Police Bust Kyiv Crypto Wallet Theft Gang, Monthly Revenue Reaches Up to $1 Million
According to ChainCatcher, the Ukrainian National Police and Security Service announced on Tuesday that they have dismantled a network of fraudulent investment platforms based in Kyiv, which stole cryptocurrency from users in over 20 countries through built-in wallet theft tools. Investigators have currently confirmed 62 victims, including citizens from Germany, Poland, Lithuania, Latvia, Spain, France, the UK, Canada, and Israel. The organizers recruited over 46 Ukrainians, operating multiple offices in Kyiv and surrounding areas, with developers responsible for building fake platforms and resisting bans, while other members handled customer service and security. According to the Ukrainian Security Service, the organizer is a 25-year-old IT expert, and the gang's peak monthly revenue reached up to $1 million. The scam began with advertisements for cryptocurrency investment projects on Telegram, where users registered, connected their wallets, and invested funds, while gang members manually forged transactions to show users' balances continuously increasing in the backend. When users applied for withdrawals, the platform required them to connect their main wallet and approve a small "test" transaction under the pretext of verification, which triggered the built-in theft tool on the website, transferring assets to wallets controlled by the gang and locking the victims' accounts. Investigators tracked down server equipment storing the gang's database in the Netherlands, which recorded victim information, wallet addresses, stolen amounts, internal communications, and platform operation data, including user passports, phone numbers, emails, login passwords, and photos. Police executed 34 searches in Kyiv and surrounding areas, seizing over 100 computers, more than 100 mobile phones, 79 SIM cards, a GSM gateway, cash, and 15 vehicles.
Michigan Judge Prohibits Kalshi from Offering Sports Betting Contracts, Daily Fine of $500,000 for Violations
According to ChainCatcher, Decrypt reported that Judge Rosemarie Aquilina of the Ingham County Circuit Court in Michigan has issued a preliminary injunction against the prediction market platform Kalshi, requiring it to cease offering sports betting-related contracts to Michigan residents. The court found that Kalshi's related business is essentially "sports betting disguised as investment opportunities." According to the order, Kalshi must block users within the state using a third-party geolocation service licensed by Michigan's betting regulator, or face a daily fine of $500,000. The injunction also prohibits it from allowing Michigan residents to register accounts, make deposits, advertise, or access similar sports betting product features until a final judgment is made in the case.
Catastrophe Bonds to Be Tokenized, First Tokenized Issuance Test Scheduled for 2027
According to ChainCatcher, law firm Harneys and tokenization platform droppRWA plan to issue the first catastrophe bonds that will have ownership recorded directly on the blockchain, with the first trading target set for early 2027. This structure will make the blockchain a legally enforceable record of ownership, with investor registration, qualification review, and payment processes all placed within the same system, reducing reconciliation time from days to seconds, provided necessary regulatory approvals are obtained. Catastrophe bonds represent a market worth $65.6 billion, allowing insurance companies, reinsurance companies, and government agencies to transfer natural disaster exposure to capital market investors. The tokenized asset market has nearly tripled in the past year to over $33 billion, with Citigroup predicting this sector could reach $5.5 trillion by 2030. The second quarter of 2026 is expected to be the largest quarter in catastrophe bond issuance history, with 48 transactions issuing $11.3 billion, and the Bermuda Stock Exchange hosted 93% of global catastrophe bond issuances in 2025. To lower the investment threshold, investors may not directly purchase catastrophe bond notes, which typically have a minimum denomination of $250,000, but instead purchase beneficial interests in vehicles that hold the bonds and pass through the returns, with the minimum investment expected to drop to $5,000. The project still awaits applicable regulatory requirements and approvals, and any platform administrator roles must be licensed under Bermuda's Digital Asset Business Act 2018.
Term Labs: Security Incident Report Confirms Affected Vault's Fixed Rate Loan Positions Have Been Restored
According to ChainCatcher, Term Labs released a technical report on a security incident, confirming that all fixed-rate loan positions in the affected vault were restored on August 25. The incident was limited to the liquid balance within the Term vault, and Term V1 and V2 contracts were not compromised, with the direct lending market remaining open. Attack process: From August 17 to 18, the attacker funded an operational wallet through Tornado Cash, submitting a malicious proposal disguised as a governance proposal, setting the governance delay parameter to zero, and removing the window for LPs to block changes. On August 23, the attacker executed two batches of attacks, extracting assets from ETH and USDC strategies and transferring them to the attacker's wallet. Term Labs stated that it has cooperated with law enforcement, and the affected vaults and strategies have been closed, with contracts upgraded and migrated before expiration.
Australian Securities and Investments Commission: Unlicensed Crypto Companies Face Fines of Up to 10% of Annual Revenue for Non-Compliance
According to ChainCatcher, Cointelegraph reported that the Australian Securities and Investments Commission (ASIC) stated that crypto companies relying on temporary regulatory exemptions must apply for an Australian financial services license by September 30 or apply to amend existing licenses. Starting October 1, businesses that do not meet the conditions under which ASIC has taken no action and still require authorization may violate financial services laws and face civil or criminal penalties, with fines of up to 10% of annual revenue. ASIC noted that since updating related guidelines in October 2025, it has received over 45 applications for digital asset-related licenses.
Ramp: 80% of Revenue for OpenAI and Anthropic Comes from 1% of Clients
According to ChainCatcher, Ramp's data head Ara Kharazian posted that Ramp's latest data shows that AI companies' revenues are highly dependent on a few clients, with 80% of OpenAI and Anthropic's enterprise revenue coming from 1% of clients, and this situation has not improved. Kharazian stated that this level of concentration risk is not seen in any other software category they track, with the top 1% of client companies heavily skewed towards the tech industry and AI products and services, especially as OpenAI and Anthropic approach their IPOs.
Meme Popularity Rankings
According to the meme token tracking and analysis platform GMGN data as of September 4, 08:45,
The top five popular ETH tokens in the past 24 hours are: UNI, V4, LINK, PAXG, ASTEROID
The top five popular Solana tokens in the past 24 hours are: fone, FOMO, BEN, CATE, CTO
The top five popular Base tokens in the past 24 hours are: Basecat, plumber, Basepepe, SOL, Memestock
What are some noteworthy articles to read in the past 24 hours?
Frontier Bets: Why the Best Crypto Investments Are Born in Bear Markets
The best investment opportunities often hide in the worst sentiments. Key point: According to "Bitcoin's Divine Power," Bitcoin has a chance to reach a low point by the end of October this year. So those who have turned to AI or U.S. stocks can also look back and reassess new opportunities in the crypto market. What will we seize? First, projects with real revenue. Stablecoins, payments, and AI-related directions are generating new, verifiable cash flows. Second, businesses that have been wrongfully punished during this winter. Many projects have strong fundamentals but are priced as if they are at the end of a bear market that has already completed about 90%—this price misalignment is an opportunity in itself. Third, IOSG has captured them early. Three rounds of reverse, research-driven investments have only one goal: to identify winners before the bull market arrives. The bear market is the starting point for layout…
BIS General Manager: Stablecoins and Tokenized Deposits
Tokenization brings real benefits: programmability, atomic settlement, and round-the-clock operation. But the road to the future monetary system lies in improving the old system while empowering the new one. If we get this right, the next frontier of currency will be modern finance—faster, more efficient, more inclusive, and built on trust.
Wintermute: After ETFs and DAT, RWA May Take the Baton for the Next Bull Market
In the past two weeks, traditional channels, including new issuances of ETFs and stablecoins, have seen a resurgence of capital inflows. This could drive market recovery, but to form a complete cycle, a new incremental funding channel may still be needed. In every previous bull market, there has been a continuous expansion of a new channel. Currently, RWA seems to be the only candidate developing along this path. As the market enters a new cycle, we will closely observe whether already on-chain institutional assets can exit closed vehicles, be used more as collateral, and enter DeFi, and whether they can generate cash flows that exceed cash management needs. Only when these changes truly occur can RWA validate its potential as a liquidity channel for the next bull market.
PONS Soars Nearly 20 Times, How Does It Support Half of Robinhood Chain's Revenue?
Trader Timo compares Pons' revenue performance with Virtual's historical highs, stating that such growth is difficult to sustain long-term, and expresses doubts about whether the buyback ratio can be genuinely executed, how long the revenue can last, and whether liquidity is sufficient. KOL Blue Fox points out that Pons' strategy is to move Pump.fun to Robinhood Chain, which is not a new play, and while traffic and attention are online, it's uncertain how long it can last. Others have noted that they have seen many projects replicate the Pump model by changing chains, and changing chains does not equate to solving fundamental issues—most ultimately just experience a wave of market activity. Pons may prove the success of Robinhood Chain, but whether it can ultimately become a platform that continuously creates wealth effects remains unanswered by the market.
Solana Foundation Chair: Internet Capital Markets Will Become the Largest Capital Markets
There are already 5.5 billion people connected to the internet globally. A financial infrastructure that can operate at any time, for everyone, and support any asset will make the world's largest market revolving around funds accessible. Once global liquidity goes online, its appeal will be so strong that it will be hard to resist. Borderless markets have so far had clear entry boundaries for each capital market: exchange seats, brokerage channels, jurisdictional boundaries, and trading hours, all determining who can enter. The internet capital market is gradually loosening these boundaries. The systems that truly embrace this transformation will not just be upgraded versions of the old system, but a new system being gradually built by individual tokens.
Dialogue with Ria Cecilia Tamez: When Traditional Banks Meet the New Global Payment Economy
Host: Cecilia, thank you very much for joining the program today. I really enjoyed this conversation. Thank you again. Cecilia: Thank you, Max. Host: That's all for my content this week. If you want to continue the conversation, you can follow me on LinkedIn. Of course, don't forget to follow this program on Spotify and subscribe on YouTube. In the next episode, I will continue to explore innovations in digital finance that change lives. So wherever your journey takes you, remember to tune in to the next episode of Money Travels presented by Visa.
Even Tom Brown, co-founder of Anthropic, known for advocating AI safety guardrails, emphasized the importance of accelerating data center construction globally in his conversation with Howard Lutnick. Brown told G20 representatives that as long as countries clear obstacles for technological infrastructure construction, they can reap the benefits of AI. He expressed that he "really liked" a post from Trump earlier this week endorsing data center projects, calling it a source of prosperity. "This is clearly the bottleneck for all our progress," Brown said, "We are facing severe shortages of electricity and labor, making it difficult to meet AI demands."
Of course, all of this could not have been achieved without the large amount of liquidity we have available to deploy, but in terms of actual deployed capital, the annualized return rate is still around 35% to 45%, depending on different stages. More importantly, this is a great opportunity for us to truly enter the traditional financial world for the first time and understand how it really works. Ten months ago, we had never traded stocks and barely knew what futures were. Now, we have traded stocks and related contracts worth $32 billion. The only thing left to do now is pray that Hyperliquid Season 3 arrives soon. Thank you for reading to the end. We will return with the next story.
On the Eve of the Arc Mainnet: Who is Making Early Moves?
Interestingly, Circle plans to launch a suite of supporting products on September 16, including a composable application framework for on-chain workflows, AI-driven applications and smart contract building tools, issuance management capabilities for tokenized real-world assets, and interactive interfaces for developers, users, and AI agents. After the public mainnet opens on September 16, official cross-chain capital inflows, DEX liquidity, lending deposits, and active addresses will begin to form verifiable mainnet data, and the first-day products promised by Fomo and edgeX will also undergo actual trading verification on the same day.
Risk warning
