Crypto Storm: Bitcoin Bounces, Regulators Shake Up Crypto, NFTs Roar Back (Sept 7

Key Facts:

Bitcoin Steadies Above $110K: After a mid-August pullback, Bitcoin held around the $110,000 mark through the weekend. Traders see strong support on hopes of Federal Reserve rate cuts, with BTC hovering at ~$111K ^[1]. Altcoins outperformed – Solana (SOL) jumped 9% past $205 and XRP broke above $3 (multi-year highs) amid an “alt-season” rally ^[2]. Ethereum (ETH) is trading near $4,300 after notching a fresh all-time high ($4,955) in late August ^[3].
U.S. Unveils Crypto Rulebook: In a surprise pivot, the U.S. SEC outlined a sweeping crypto regulatory agenda. Chair Paul Atkins called it “a new day” at the SEC ^[4] – proposed rules would clarify which tokens are securities, potentially allow crypto trading on stock exchanges, and create safe-harbor exemptions for digital asset sales ^[5] ^[6]. This marks a major win for an industry that has long sought clear, innovation-friendly guidelines.
Global Regulatory Momentum: Regulators worldwide made bold moves. A U.S. court cleared crypto prediction market Polymarket to return after a 3-year ban; the CFTC granted it no-action relief through an acquired exchange ^[7] ^[8]. “The CFTC’s acting chair has… referred to prediction markets as ‘an important new frontier’,” noted one crypto executive, adding that “some on Wall Street now believe prediction markets could be bigger than the stock market one day.” ^[9] In Europe, the Dutch central bank fined OKX €2.25M ($2.6M) for past unregistered operations ^[10], while the UK’s FCA moved to lift its ban on crypto ETPs for retail – a 21Shares director called it “extremely significant… the first step in a seismic shift” for UK markets ^[11]. Across Asia, Hong Kong’s HKMA rolled out strict stablecoin licensing (100% reserves and HK$25M capital required) ^[12], even as mainland China cracked down on promotion of stablecoins as “highly volatile” and potential fraud tools ^[13].
DeFi & CeFi Turbulence: Decentralized finance saw both setbacks and resilience. A yield protocol on Sui called Nemo was exploited for $2.4M in USDC ^[14], underscoring lingering smart contract risks. And in a controversial episode, World Liberty Financial (WLFI) – a DeFi project – froze hundreds of wallets (including Tron founder Justin Sun’s) under the pretext of stopping a phishing attack ^[15]. “If they can do it to Sun, who’s next?” insiders warned, questioning the precedent of unilateral freezes ^[16]. On the centralized side, new players are filling the void left by fallen exchanges: Solana-founded Backpack launched a fully regulated crypto derivatives exchange in Europe after acquiring FTX’s EU unit ^[17] ^[18], offering dozens of perpetual futures pairs under EU MiFID II compliance.
NFTs Stage a Comeback: The NFT market is showing signs of revival heading into fall 2025. Trading volumes in August rose ~9% month-on-month (even as total NFT sales dipped 4%), indicating collectors are spending more per token ^[19]. Ethereum still dominates ~61% of NFT activity, but Coinbase’s new Base network suddenly became the #3 chain for NFTs thanks to ultra-low fees and airdrop incentives driving usage ^[20]. Analysts note a shift: “fewer NFTs are being exchanged, but collectors are spending more per transaction,” reflecting higher-value sales ^[21]. In real-world adoption, Ibiza’s famed Hï nightclub even opened a permanent NFT art gallery featuring works by Beeple and others ^[22] – blending nightlife with Web3. And bullish bets are back: upstate New York billionaire Adam Weitsman sparked buzz by snapping up 5,000 “Otherdeed” NFTs (virtual land in Yuga Labs’ metaverse) as a massive speculative play ^[23], signaling renewed confidence from deep-pocketed collectors.
Enterprise Blockchain Adoption Soars: Major institutions doubled down on crypto as a treasury and business strategy. In Hong Kong, exchange HashKey announced a new $500 million Digital Asset Treasury fund to help public companies accumulate crypto for their balance sheets ^[24] ^[25]. The strategy mimics U.S. firm MicroStrategy (now rebranded “Strategy”), which famously holds ~$63 billion in Bitcoin. (Indeed, Strategy now has 597,000+ BTC and had one of its strongest profit quarters thanks to Bitcoin’s surge ^[26] ^[27].) Michael Saylor’s company met all criteria for S&P 500 inclusion – potentially bringing ~$70B in BTC onto the index – but was snubbed in the latest S&P rebalancing, as index overseers opted for other firms ^[28] ^[29]. Still, crypto’s integration into corporate finance marches on: Indonesia’s Indomobil Group (a major conglomerate) partnered with blockchain startup Space and Time to put 50,000 student credentials on-chain, using a custom token (SXT) for tuition payments and recording course completions on a public ledger ^[30] ^[31]. “Education is critical… our blockchain model reduces friction for students and families while improving payments,” said Indomobil’s president director, touting the program’s benefits for unbanked communities ^[32]. And in wealth management, Singapore’s Matrixport struck a deal with China’s Fosun Wealth to integrate crypto custody, trading, and tokenized assets into mainstream investment services ^[33] ^[34]. “Bridging crypto with established wealth channels paves the way for broader adoption, turning digital assets into a staple in portfolios,” affirmed Matrixport founder Jihan Wu ^[35].
Major Tech Upgrades and Protocol Updates: Blockchain networks pressed forward with technical improvements. Solana developers passed an “Alpenglow” upgrade proposal aiming to drastically boost network speed – replacing Solana’s current Tower BFT consensus with a faster off-chain voting system that could shrink transaction finality to mere milliseconds ^[36]. The ambitious update (SIMD-0326) represents a significant overhaul of Solana’s core infrastructure ^[37], though it has stirred debate over new validator requirements. Meanwhile, Ethereum’s ecosystem quietly strengthened: CME Group reported Ether futures open interest hit a record $10B as institutional demand surged ^[38], and developers are exploring novel “trustless agents” for AI-DApp integration via NFTs – innovations that reinforce Ethereum’s position as “Wall Street’s likely blockchain of choice” for decentralized apps ^[39]. No major hard forks occurred this week, but the ongoing upgrades and experiments across networks underscore the rapid evolution of blockchain tech as we head into the final quarter of 2025.

Cryptocurrency Market Overview (Sept 7–8, 2025)

Bitcoin Holds $110K Range: Bitcoin spent the first weekend of September trading in a tight band around $110,000–$113,000 ^[40] ^[41]. This stability comes after a volatile August in which BTC hit record highs above $124K before a correction. As of Sept 8, BTC is steady near $111K ^[42]. Analysts say macroeconomic tailwinds – notably growing expectations of U.S. Federal Reserve rate cuts after weak jobs data – are propping up bitcoin’s price despite September’s reputation as a weak month. “Bitcoin remains stable around $110K–$113K, supported by expectations of Fed rate cuts and increasing institutional inflows,” CoinDesk noted ^[43] ^[44]. Indeed, futures markets shifted after the latest U.S. employment report showed only 22,000 jobs added in August (far below forecasts), boosting bets that the Fed will ease policy ^[45]. With interest rate pressure potentially abating, BTC’s downside appears cushioned by long-term holders: the illiquid supply of bitcoin hit an all-time high 14.3 million BTC as “hodlers” lock away coins ^[46].

Ethereum Near Record Highs: Ethereum has been on a tear. On Aug 24, ETH briefly broke its all-time price record, reaching about $4,955 — a level even the 2021 bull run never achieved ^[47]. It has since pulled back modestly to the mid-$4,200s–$4,300, but the uptrend remains firmly intact (ETH is up ~23% over the past month and +45% year-to-date, handily outperforming BTC’s ~25% YTD gain) ^[48] ^[49]. One catalyst is renewed institutional accumulation of Ether. In just the past week, investors poured roughly $1.3 billion into ETH-focused funds, while bitcoin funds saw ~$900 million in outflows during that period ^[50]. The Chicago Mercantile Exchange also reported a record high $10 billion in open interest on Ether futures ^[51] – a sign that big players are increasingly active in ETH markets. “We’re certainly seeing a resurgence… large open interest holders hit a record high… signaling a strengthening of the institutional ecosystem around Ether,” observed Giovanni Vicioso, CME’s head of crypto products ^[52]. Ethereum’s strength is further underpinned by its perceived utility: more investors now view it as “Wall Street’s likely blockchain of choice” for building decentralized applications and financial products ^[53]. With multiple corporations (from crypto fund managers to fintech firms) adding Ether to their treasury reserves ^[54], bullish sentiment around ETH’s network effect is on the rise. The key level ahead is the psychological $5,000 mark – traders are watching whether Ether can decisively break above that barrier in coming weeks or if it will consolidate below it after its impressive run.

Altcoins Rally and Sector Rotation: The broader altcoin market enjoyed a notable rally as Bitcoin traded sideways. Solana (SOL) surged to ~$208 (up ~9% on the week) ^[55], buoyed by growing optimism in the Solana ecosystem and signs of institutional confidence in its technology (some Solana-related investment products saw fresh inflows). XRP (Ripple’s token) also spiked, briefly climbing above $3 for the first time in over five years ^[56]. This marks a stunning turnaround for XRP – it traded near $0.50 only a year ago. XRP’s surge reflects both the general altcoin resurgence and Ripple’s legal victory earlier in 2025 (securing clarity that XRP is not a security in the U.S.), which has emboldened Ripple to expand XRP’s role in cross-border settlements. Other majors like Cardano (ADA) and Stellar (XLM) notched solid mid-single-digit percentage gains over the week ^[57], riding the “mini alt-season” wave.

Even meme coins showed strength: Dogecoin (DOGE) rallied over 7% in 24 hours to about $0.23 ^[58] ^[59], fueled by speculation around an upcoming Dogecoin ETF launch in the U.S. (analysts suggest a DOGE ETF could debut as soon as next week) ^[60]. Meanwhile, the “AI narrative” boosted tokens like Worldcoin (WLD) – which jumped 20% in a day ^[61] – and niche meme coins such as SPX6900, which saw double-digit gains. Categories from Layer-1 protocol tokens to DeFi governance coins all flashed green. This broad-based rally pushed the total crypto market cap back upward and lifted sentiment off recent lows. By Sept 8, many coins had moved into the “green zone” with steady price climbs ^[62]. Still, caution remains: September historically brings volatility, and short-term profit-taking could cap bitcoin below ~$113K–$115K resistance (where many newer buyers breakeven) ^[63] ^[64]. Analysts pinpoint ~$107K as key support for BTC – a drop below that (coinciding with the average 6-month holder cost basis) could “trigger fear” and accelerate sell-offs ^[65] ^[66]. For now, however, crypto markets are showing resilience with a tentative bullish tilt heading into mid-September.

Regulatory Updates Around the Globe

United States – New Crypto Framework in the Works: U.S. regulators used early September to signal a dramatic shift toward clearer crypto rules. On Sept 4, the Securities and Exchange Commission (SEC) unveiled its fall 2025 rulemaking agenda with a strong focus on digital assets ^[67]. The SEC plans to propose new rules for the offer and sale of crypto assets, potentially including exemptions and safe harbors for token issuers ^[68]. It also is considering amending broker-dealer rules to explicitly cover crypto trading, and even exploring how crypto could trade on national securities exchanges (like the NYSE or Nasdaq) within regulatory frameworks ^[69]. Such moves, if enacted, would mark a sea change by allowing tokenized assets to integrate with traditional finance in a compliant way. “This regulatory agenda reflects that it is a new day at the SEC,” said SEC Chair Paul Atkins, emphasizing a “renewed focus on supporting innovation, capital formation, … and investor protection” ^[70]. The friendlier tone is a stark contrast to prior years – as recently as 2023, the SEC under Gary Gensler took an aggressive enforcement stance that many in the industry criticized as regulation-by-enforcement. Now, with new leadership and pressure from Congress, the SEC appears to be pivoting toward collaboration. Notably, a long-pending question – which cryptocurrencies are securities? – may soon get answered: Commissioner Mark Uyeda indicated the SEC will publish clear guidelines distinguishing security tokens vs. digital commodities (like Bitcoin) as it reviews over 90 pending spot crypto ETF applications ^[71] ^[72]. In parallel, President Trump has signaled pro-crypto policies, even signing an executive order to once again allow crypto investments in 401(k) retirement plans, reversing a prior Biden-era ban ^[73]. The Labor Secretary Lori Chavez-DeRemer framed it as empowering investors: “Instead of allowing Washington bureaucrats to call the shots, we believe plan fiduciaries should decide” which options are best ^[74]. All told, the U.S. appears to be laying groundwork for a more accommodating regulatory regime going into 2025 – one that industry proponents hope will finally end the patchwork uncertainty and open the doors to broader adoption.

CFTC Gives Polymarket Green Light: Another U.S. agency made headlines by welcoming a previously banned crypto platform back into the fold. The Commodity Futures Trading Commission (CFTC) granted Polymarket, a decentralized prediction markets platform, approval to resume U.S. operations after a three-year exile ^[75] ^[76]. Polymarket had shut out U.S. users in 2021 and paid a $1.4M fine for offering unregistered event-based binary options. Now, thanks to a creative solution – Polymarket acquired a fully licensed derivatives exchange (QCEX) and secured a CFTC no-action letter – the platform can legally offer its event contracts in America ^[77] ^[78]. The CFTC’s decision reflects a changing attitude: officials are increasingly open to novel markets that let people bet on real-world outcomes (elections, sports, etc.). “The CFTC’s acting chair has previously referred to prediction markets as ‘an important new frontier’, and today’s decision certainly cements this sentiment,” said Nick Jones, founder of crypto firm Zumo ^[79]. He noted that some even speculate “prediction markets could be bigger than the stock market one day” ^[80] if they gain mainstream traction. Polymarket’s U.S. return (through its regulated entity “Polymarket US”) is a milestone in that direction. It also follows a win by rival platform Kalshi, which recently prevailed in court to offer political event contracts. With Polymarket planning to restart U.S. onboarding as soon as this fall, the country may soon see a surge in blockchain-based betting markets – under the watchful eye of regulators. Industry veterans view this as a positive example of regulatory engagement: rather than ban outright, the CFTC worked with Polymarket to find a compliant path, potentially a template for other DeFi-like projects seeking legitimacy.

Europe – Enforcement and Embracing MiCA: Over in Europe, regulators balanced enforcement actions with preparation for the EU’s new comprehensive crypto framework. In the Netherlands, the central bank (DNB) slapped a €2.25 million fine on crypto exchange OKX for operating without registration ^[81]. The violation occurred from July 2023 to August 2024, before Europe’s landmark MiCA (Markets in Crypto-Assets) regulation had taken effect. Dutch law since 2020 requires any crypto service provider to register for anti-money-laundering oversight ^[82], and DNB has not hesitated to punish violators – it previously fined Crypto.com €2.85M and Kraken €4M for similar breaches ^[83]. OKX, based in Seychelles, said the issue was a “legacy matter” that’s been resolved. “This fine… has long since been remediated, with no impact on customers,” an OKX representative stated, noting the penalty was actually reduced due to steps the exchange took (OKX migrated its Dutch users to its licensed European entity and now has full MiCA authorization) ^[84]. With MiCA’s implementation deadlines approaching, EU regulators are actively enforcing interim rules to ensure a smooth transition to the new regime.

In the United Kingdom, a dramatic policy reversal garnered cheers from investors. The Financial Conduct Authority (FCA) decided to lift its ban on offering crypto exchange-traded products (ETPs) to retail customers ^[85]. Since early 2021 the UK had prohibited retail sales of crypto derivatives and ETNs, arguing they were too risky for consumers. Now, the ban’s removal means British retail investors will soon be able to buy regulated, exchange-listed products tied to Bitcoin, Ether and other digital assets – for example, a Bitcoin spot ETF, if approved, could be sold to everyday UK investors via brokerages. Industry participants welcomed the news. “This is extremely significant and in some ways it could be seen as the first step in a seismic shift in UK financial markets in terms of the acceptance and adoption of digital assets,” said Russell Barlow of 21Shares (a leading crypto ETP issuer) ^[86]. The timing aligns with Europe’s pro-innovation stance under MiCA and the broader competitive need to not stifle fintech. Analysts expect an uptick in crypto product offerings in London’s financial markets as firms move to capitalize on pent-up retail demand.

Asia – Hong Kong Opens Up, China Clamps Down: In crypto-friendly Hong Kong, officials continue to refine a regulated path for digital assets. The Hong Kong Monetary Authority (HKMA) this month introduced the city’s first stablecoin regulatory regime, ahead of many Western counterparts ^[87]. Under the new rules, any entity issuing a stablecoin pegged to the Hong Kong dollar (HKD) must obtain a license. Issuers are required to maintain at least HK$25 million (~US$3.2M) in capital, 100% reserve backing of all stablecoin liabilities, and even overcollateralization buffers to protect against market stress ^[88]. These conservative rules ensure stablecoins are fully redeemable and solvent – effectively treating them akin to bank deposits. While this could spur Hong Kong–based HKD stablecoins, it’s also seen as a bid to attract serious global stablecoin projects to set up under clear guidelines (perhaps luring some business away from stricter U.S. oversight). Meanwhile in mainland China, where cryptocurrency trading is banned, authorities delivered a stark message regarding stablecoins: stop promoting them. According to local reports, Chinese financial regulators instructed brokerages and online finance influencers to halt any research, marketing or seminars on stablecoins ^[89]. Officials are said to be concerned that USD-pegged stablecoins (like Tether or USDC) could be used to bypass China’s capital controls or facilitate fraud. They even warned that stablecoins might become “new tools for fraudulent activities” domestically ^[90]. This reflects Beijing’s continued zero-tolerance stance on private crypto, even as it cautiously pilots its own central bank digital currency (the digital yuan). Notably, China’s crackdown comes at the same time it’s reportedly considering allowing yuan-backed stablecoins in Hong Kong as a means to internationalize the RMB offshore ^[91]. In short, China wants tight control: it may use blockchain to extend its currency’s reach, but it doesn’t want foreign stablecoins extending theirs onshore.

Other Notable Regulatory Moves: Around the world, a few other developments popped up. Australia’s securities regulator (ASIC) is weighing new market integrity rules to address AI-driven trading; one proposal is a mandatory “kill switch” for algorithms to prevent errant code from causing flash crashes ^[92] ^[93]. And in Belarus, President Alexander Lukashenko ordered lawmakers to draft clear crypto regulations that would encourage growth of the sector while cracking down on illicit uses ^[94]. This echoes a trend in Eastern Europe and Central Asia, where several governments are creating legal frameworks to become regional crypto hubs (following the lead of places like Kazakhstan and the UAE). Lastly, the U.S. Congress is inching closer to a bipartisan crypto bill vote ^[95], which could provide statutory clarity on jurisdictional questions (SEC vs CFTC oversight) and stablecoin rules if passed – adding to the sense that the regulatory tides are turning favorable as 2025 draws to a close.

Decentralized Finance (DeFi) and CeFi Updates

DeFi Hacks and Controversies: The DeFi sector experienced a mix of growing pains and maturation. On Sept 7, Nemo, a yield aggregation protocol on the Sui blockchain, was exploited for approximately $2.4 million in USDC ^[96]. The hacker took advantage of a vulnerability in Nemo’s smart contracts, draining liquidity and then bridging the stolen stablecoins from Sui’s network over to Ethereum. News of the exploit spread quickly, reminding users that even newer blockchain ecosystems like Sui are not immune to the kind of flash loan attacks and logic bugs that have plagued DeFi on Ethereum. (Notably, this was one of the first major exploits on Sui, which launched in 2023.) The Nemo team said it is investigating and working on a potential fund recovery or user compensation plan ^[97]. Security analysts once again stressed the importance of audits and prudent risk management when chasing high yields in DeFi. The incident follows a string of summer hacks (including a $61M Curve Finance exploit in July), suggesting that while DeFi innovation continues, so do its vulnerabilities.

Meanwhile, trust and decentralization in DeFi came under debate after an incident involving World Liberty Financial (WLFI). WLFI is a blockchain-based project that offers high-yield staking and purported “stable” tokens. Over the weekend it froze hundreds of user wallets – including a wallet belonging to Tron founder Justin Sun – without warning ^[98]. The project’s administrators claimed the freeze was necessary to “protect users from phishing-related compromises”, alleging that some user private keys were at risk ^[99]. However, many in the crypto community were alarmed that a supposedly decentralized platform could unilaterally lock user funds. Industry insiders openly criticized WLFI’s actions, with one commentator asking, “If they can do it to Sun, who’s next?” ^[100]. The implication is that WLFI might have set a dangerous precedent: if DeFi operators start freezing assets under the guise of security, it edges their platforms closer to traditional centralized finance – undermining the core promise of DeFi. Justin Sun, a controversial figure who runs Tron and had apparently invested in WLFI’s offering, protested that over $100 million of his tokens were “unreasonably” frozen ^[101]. WLFI’s team insists they acted in users’ best interest, but skeptics suspect other motives (there are unconfirmed rumors the project was facing a run on liquidity). The episode highlights an ongoing decentralization dilemma: DeFi protocols often tout self-custody and immutability, but when crisis hits, some revert to centralized controls. Users and regulators alike are taking note.

Regulated CeFi Platforms Filling the Void: In the centralized exchange (CeFi) arena, new players are leveraging regulatory approvals to offer services once dominated by now-defunct giants like FTX. One notable launch is Backpack Exchange’s entry into Europe. Backpack, a crypto trading startup founded by former FTX developers and known for its Solana-based wallet technology, revealed that its EU division is now officially live and licensed ^[102]. Operating out of Cyprus under MiFID II rules, Backpack EU is positioning itself as one of the first fully regulated venues in the EU offering crypto derivatives (perpetual futures) to both retail and institutional traders ^[103] ^[104]. The exchange’s debut comes after Backpack acquired the entity of FTX Europe earlier this year via auction. (FTX EU was the European arm of FTX that had regulatory approvals in Cyprus; its sale was initially contested by FTX’s bankruptcy estate ^[105], but was eventually allowed to proceed.) Backpack’s CEO Armani Ferrante said the platform will start with 40+ trading pairs and up to 10x leverage on major crypto perpetuals ^[106]. The launch is significant: it provides a compliant alternative for EU traders who want advanced products like futures, which many unlicensed exchanges can’t legally offer. It also symbolizes the rebuilding of trust in crypto exchanges post-FTX. “You give trust by doing good things every day over a long period of time,” Ferrante told CoinDesk, emphasizing Backpack’s focus on security and user protection ^[107]. By inheriting FTX EU’s licenses and repaying its customers, Backpack is marketing itself as a good actor rising from the ashes of a bad one. If successful, it could pave the way for more regulated crypto exchanges to sprout in various jurisdictions, each adhering to local laws – a trend that could fragment trading liquidity but increase consumer protections.

Elsewhere in CeFi, several established firms are seeking regulatory nods to expand. For instance, Bybit – one of the world’s largest crypto derivative exchanges – applied for a license in Austria to offer trading services across the EU ^[108]. And Gemini became one of the first companies to get an EU-wide MiCA license (via registration in Malta), which will allow the Winklevoss-owned exchange to passport its services throughout Europe ^[109]. These moves underscore that despite a brutal crypto winter and exchange blow-ups last year, competition to serve crypto traders is heating up again, but this time the battleground is regulatory compliance. The winners are likely to be those who can best navigate the new rules while still delivering the high-octane products crypto enthusiasts demand.

DeFi Innovation and Growth: On a more positive note, not all DeFi news was about hacks. Some niches within decentralized finance are gaining legitimacy and use. The prediction market segment is one such area – beyond Polymarket’s return (covered in the Regulatory section), other platforms like Myriad have reported rising volumes. Myriad, a blockchain-based prediction marketplace, announced it surpassed $10 million in USDC volume as more users experiment with betting on event outcomes ^[110]. This suggests prediction markets are finding a foothold, occupying a unique space between trading and gambling. Additionally, Decentralized Exchange (DEX) volumes remain robust, especially on Layer-2 networks. And DeFi lending platforms are seeing renewed interest as crypto prices climb – users are once again borrowing stablecoins against their BTC/ETH holdings to leverage up (though overall DeFi total-value-locked is still below 2021 highs).

Another trend is the fusion of DeFi and traditional finance: so-called Real World Asset (RWA) tokenization. This week, for example, Switzerland’s SYGNUM bank launched a tokenized money market fund on-chain, and MakerDAO’s community is considering increasing allocations to tokenized U.S. Treasuries to back its DAI stablecoin (taking advantage of high yield on TradFi assets). These efforts reflect a bigger theme: DeFi protocols seeking revenue and stability from real-world yields, while traditional institutions cautiously tap blockchain rails to enhance liquidity. The Matrixport–Fosun partnership mentioned earlier is part of this, aiming to package tokenized bonds and funds for wealthy clients ^[111]. If such initiatives succeed, the line between DeFi and CeFi could blur, bringing more real assets on-chain and more crypto off-chain into mainstream portfolios.

In summary, the DeFi sector is navigating a delicate phase – evolving and expanding, but not without incident. Each exploit or misstep (like Nemo’s hack or WLFI’s freezes) prompts calls for better safeguards, whether via code audits, insurance funds, or even regulatory oversight of DeFi front-ends. At the same time, the pace of innovation hasn’t slowed: decentralized finance is branching into new territories (prediction markets, RWAs, Layer-2 scaling), hinting that its next growth cycle could be more deeply entwined with the real economy.

NFT Ecosystem News and Trends

After a prolonged cool-down from the 2021 hype, the NFT market is hinting at a recovery in late 2025. Data from DappRadar and others showed NFT trading volumes hit their highest two-month totals since February ^[112]. August saw about $578 million in NFT sales, up ~9% from July’s ~$530M – notable because it happened even as the number of NFTs sold actually declined (~5.2M sales in Aug vs 5.5M in Jul) ^[113] ^[114]. In other words, average sale prices increased, implying renewed appetite for higher-value digital collectibles. Analysts describe a market where “fewer NFTs are being exchanged, but collectors are spending more per transaction” ^[115]. This dynamic often precedes a broader uptick, as serious collectors drive price floors higher for blue-chip NFT collections.

Network Shifts – Base Climbs Ranks: Ethereum remains the king of NFTs by market share (61% of volume in August) ^[116] ^[117], thanks to its large user base and iconic collections (Bored Apes, CryptoPunks, etc.). But an emerging story is the rise of Coinbase’s Base L2 network as a hub for NFTs. Despite only launching publicly a few months ago, Base became the third-largest blockchain for NFT volume during August ^[118] – leapfrogging historically strong chains like Flow or Polygon. The surge on Base is attributed to ultra-low fees (minting an NFT on Base costs pennies, drawing cost-sensitive creators and traders) and savvy growth tactics like airdrop incentives tied to Base’s early users ^[119]. One viral phenomenon was the “Base Introduced” meme art and the BASED market that grew around it. The increased activity on Base contributed a meaningful chunk to overall NFT trading and indicates that Layer-2 solutions are finally making an impact in the NFT space by alleviating Ethereum’s gas costs.

Other chains also saw notable events: Solana, which had a booming NFT scene in 2022 before a slump, is showing some revival – its NFT volumes got a boost from the successful Mad Lads mint and the network’s broader DeFi/NFT resurgence. And Bitcoin Ordinals (NFTs on Bitcoin) continue to attract niche interest, with total Ordinal inscriptions surpassing 25 million and infrastructure improving (e.g. the first Ordinal-focused wallet by Hiro launched).

Major Collections and Sales: Blue-chip NFT collections have stabilized in recent weeks. The Bored Ape Yacht Club (BAYC) floor price sits around 54 ETH (~$230K) after dipping earlier in the year. Notably, BAYC’s all-time trading volume on OpenSea surpassed $1 billion as of this month ^[120] ^[121], cementing its status as one of the most traded NFT collections ever. Yuga Labs (BAYC’s creator) has been busy: the company concluded a high-profile auction of 101 “Nuevo Apes” in partnership with Sotheby’s in early September, and continues to expand its Otherside metaverse – where that billionaire Adam Weitsman just bought 5,000 plots of Otherdeed land NFTs in one swoop ^[122]. Weitsman’s shopping spree, which could be worth around $5–10 million depending on Otherdeed prices, sparked chatter that “smart money” anticipates Yuga’s Otherside MMORPG may finally launch soon, potentially driving up land values.

Additionally, celebrity and brand NFT drops haven’t gone away. On Sept 6, pop star The Weeknd released a new NFT collection tied to his world tour merch, and fashion house Louis Vuitton debuted its second NFT line (via Treasure Trunks) blending physical and digital luxury goods. Over the weekend, the NFL’s Kansas City Chiefs announced an NFT ticket stub program for this season’s games – signaling continued sports adoption of NFTs for fan engagement. Meanwhile, on the art side, generative art platform Art Blocks rolled out a curated collection called “Art Blocks 500,” commemorating its 500th curated drop, which sold out and reaffirmed Art Blocks’ role in the cryptoart world.

Perhaps most interesting is how NFTs are increasingly intersecting with physical venues and experiences. Case in point: Ibiza’s famous club Hï Ibiza now hosts a permanent NFT art gallery on its premises ^[123]. Partygoers can admire digital artworks from renowned crypto artists like Beeple and Mad Dog Jones displayed on high-end screens, with scannable codes to purchase or learn more. This melding of nightlife and NFT culture illustrates how digital collectibles are permeating mainstream social spaces. It’s a far cry from the early days of lone enthusiasts trading jpegs – NFTs are quietly becoming a part of everyday entertainment and retail.

NFT Infrastructure and Policy: On the infrastructure front, leading marketplace OpenSea continues to adapt. It recently introduced optional creator royalties and launched a bulk transfer feature to cater to professional traders. Rival marketplace Blur still commands a large share of pro traders with its zero-fee model, but OpenSea’s moves (including its spring launch of OpenSea Pro and the “SEA” governance token airdrop ^[124] ^[125] earlier this year) indicate a fierce battle for NFT market dominance. Regulators have also taken notice of NFTs. In fact, OpenSea disclosed in August that it received an SEC “Wells notice” threatening to classify certain NFT collections or activities as securities ^[126]. The outcome remains to be seen, but how the SEC and other regulators treat NFTs (especially fractionalized or revenue-sharing ones) will shape the next phase of the industry. So far, no enforcement was announced over the weekend, but NFT platforms are bracing for clearer guidance from authorities.

In summary, the NFT ecosystem as of early September 2025 is cautiously optimistic. Key indicators – rising volumes, high-profile entrants, and new use cases – suggest the NFT slump may be ending. A DappRadar analyst noted that rising adoption across industries is supporting the uptick ^[127], from Ibiza’s gallery to Starbucks’ loyalty NFTs (launched earlier in the year) and ticketing experiments. While we’re not in an “NFT boom” by any stretch, the groundwork is being laid for a more mature, utility-driven NFT market. If crypto prices continue to climb and Web2 brands keep jumping in, NFTs could once again become one of crypto’s breakout stars in the coming months – albeit with a lot more substance behind the shine this time around.

Enterprise Blockchain Partnerships and Adoption

Even as crypto markets and DeFi ebb and flow, enterprise adoption of blockchain technology is accelerating – a sign that crypto’s underlying tech is here to stay. The past few days saw several big announcements of traditional companies and institutions embracing blockchain, either by holding crypto on their balance sheets or by deploying the tech in their operations.

Corporate Bitcoin Treasuries – HashKey Fund & Strategy’s S&P Hopes: One major trend is companies accumulating Bitcoin (and Ether) as treasury assets, a strategy pioneered by MicroStrategy. In Hong Kong, the city’s largest licensed crypto exchange HashKey Group revealed plans to launch its inaugural Digital Asset Treasury (DAT) fund with a target size of $500 million ^[128]. The fund will invest in public companies that are accumulating crypto – essentially providing those firms with capital and expertise to put Bitcoin/ETH on their balance sheets. HashKey said the fund’s strategy was inspired by the success of U.S.-based Strategy Inc. (formerly MicroStrategy) ^[129]. MicroStrategy’s bold bet on Bitcoin since 2020 has turned it into a $700M-revenue software company with a $70 billion crypto stash. As of June 2025, Strategy holds 637,000+ BTC (worth over $63B) ^[130] and has become consistently profitable largely thanks to Bitcoin’s appreciation and new accounting rules ^[131]. This quarter, Strategy reported an eye-popping $10 billion net income (boosted by unrealized BTC gains) ^[132], underscoring how holding Bitcoin can massively tilt a company’s financials when prices rise. The firm even achieved a year-to-date “BTC yield” of 19.7% (measuring Bitcoin growth vs shares outstanding) ^[133]. All that success led Strategy to meet every criterion for inclusion in the S&P 500 index – a milestone CEO Michael Saylor had long chased ^[134]. Many speculated S&P Dow Jones Indices would add Strategy in its September 2025 rebalancing. However, when the changes were announced on Sept 5, Strategy was left out, while firms like Robinhood and AppLovin got in ^[135] ^[136]. The exclusion disappointed crypto investors who saw Strategy as a proxy for Bitcoin in traditional indexes. Some analysts suggest the S&P committee was wary of Strategy’s Bitcoin-heavy business model and volatile earnings, focusing instead on more conventional metrics ^[137]. Still, Strategy remains a candidate for future inclusion after multiple review cycles ^[138] ^[139]. Saylor framed it optimistically – noting that if not this time, Bitcoin’s continued growth could force index inclusion eventually. Regardless, the sheer fact that a Bitcoin treasury-focused company nearly made the S&P 500 is a landmark for mainstream acceptance of crypto in corporate finance. With HashKey’s new fund aiming to “advance crypto asset standardisation and accelerate the development of a sustainable Web3 ecosystem” ^[140] by seeding more “Bitcoin treasuries” globally, we can expect more publicly traded firms (especially in Asia) to start holding digital assets as part of their treasury management.

Wall Street & Institutions Warming Up: Beyond operating companies, traditional financial institutions are deepening their crypto involvement. A notable development: Cathie Wood’s ARK Invest – known for its early Bitcoin investments – recently bought $15.6 million worth of shares in Bitmine Immersion, a firm that has amassed 1.7 million ETH (~$8B) as its treasury ^[141]. This indicates institutional investors not only want direct crypto exposure but are also betting on crypto-heavy companies as a proxy. Additionally, JPMorgan Chase, the largest U.S. bank, was reported to be launching a digital retail bank in Germany ^[142] (though not strictly blockchain, it shows big banks responding to fintech and possibly integrating crypto services). And in Canada, VersaBank started a pilot for issuing tokenized U.S. dollar deposits on public blockchains like Ethereum and Stellar ^[143]. These tokens are essentially an FDIC-insured stablecoin alternative, highlighting how banks are testing blockchain for more efficient banking products.

Real Economy Use-Cases – Space and Time & Indomobil (Education): One of the most compelling enterprise blockchain stories comes from Indonesia. The giant Indomobil Group, which is an automotive and multi-industry conglomerate, unveiled a partnership with California-based Web3 startup Space and Time (SxT) to transform education financing and credentialing ^[144] ^[145]. Announced on Sept 4, the program will onboard 50,000 Indonesian students on-chain for an education initiative ^[146]. Using Space and Time’s decentralized data platform (and its SXT blockchain and token), the system will record proof of course completion for each student immutably on-chain ^[147]. Moreover, it implements trustless tuition payments: families (many unbanked) will pay school fees in SXT tokens through local schools, and those transactions are transparently tracked and disbursed to education providers on the blockchain ^[148] ^[149]. This removes the need for banks or cash-handling middlemen, drastically simplifying the process and reducing leakage. “Our partnership allows us to lead the world in efficient, transparent, and verifiable education,” said Jusak Kertowidjojo, Indomobil’s President Director, noting that leveraging blockchain will “reduce friction for students and families while improving how payments are managed” in the education system ^[150]. From Space and Time’s side, co-founder Nate Holiday praised Indomobil for modernizing access to education: “Blockchain offers a faster, more transparent, and more inclusive alternative to traditional payment systems… every transaction must be trusted, traced, and verified… Space and Time makes that possible,” he said ^[151] ^[152]. This project is a case study in using blockchain to solve real-world problems (education access, financial inclusion) beyond the typical finance realm. If successful, it could be scaled to millions of students in Indonesia and copied in other emerging markets – showing governments and NGOs a blueprint of how blockchain can improve public services.

Wealth Management and Tokenization – Matrixport & Fosun: In the private wealth sector, a headline partnership was announced on Aug 28 (with details still reverberating now): Matrixport, a Singapore-based crypto financial services firm founded by Bitmain’s Jihan Wu, has teamed up with Fosun Wealth International, the finance arm of China’s conglomerate Fosun International ^[153] ^[154]. The strategic partnership aims to “accelerate the digitalization of global finance” by integrating Web3 services into traditional wealth management ^[155]. In practice, Matrixport will provide its crypto custody, OTC trading, and structured product expertise, while Fosun will offer these crypto solutions to its high-net-worth and institutional clients in a compliant manner ^[156]. The collaboration will focus on tokenization of real-world assets (RWAs) – e.g. exploring ways to tokenize bonds, funds, or other investments for Fosun’s clients ^[157] ^[158] – and on distributing crypto yield products through Fosun’s channels ^[159]. “This partnership marks a pivotal moment in redefining wealth management for the digital age,” said Zhao Chen, Fosun Wealth’s Digital Assets Director ^[160] ^[161]. The fact that a major Chinese multinational’s wealth division is openly embracing crypto (albeit via Hong Kong/Singapore, since mainland China’s ban persists) is significant. It suggests large asset managers see client demand for crypto exposure and are seeking trusted partners to navigate it. Jihan Wu, Matrixport’s CEO, called the alliance a way to “deliver… one-stop digital asset solutions for global institutions,” bridging traditional finance with crypto ^[162] ^[163]. He noted it “unlocks potential for both parties and accelerates broader adoption of digital assets within traditional finance.” ^[164] As more banks and fintechs partner up like this, crypto is steadily getting baked into the existing financial system – from tokenized deposits (like VersaBank’s pilot) to crypto in retirement plans, we’re witnessing the gradual mainstreaming that was hard to imagine a few years ago.

Public Sector and Blockchain: Enterprise adoption isn’t limited to private companies. Governments and public institutions are also leveraging blockchain. For example, the European Union is moving forward with plans for a digital euro (the ECB’s research phase is ending soon, with a prototype expected in 2025). And just last week, SWIFT – the interbank messaging network – announced successful tests using blockchain for cross-border payments and even experiments bridging to public chains like XRP Ledger and Hedera Hashgraph ^[165] ^[166]. While SWIFT clarified it won’t issue its own crypto, it sees value in using existing networks for faster settlements. Moreover, central banks in over 10 countries are now running CBDC pilot programs. This weekend didn’t have a specific CBDC announcement, but the ongoing work in places like Japan (which will trial a digital yen in 2026 ^[167]) and Hong Kong (which is working on an e-HKD alongside the stablecoin rules) shows that state-backed digital currencies are on the horizon – an adoption of blockchain by the highest levels of finance.

Overall, the flurry of enterprise and institutional developments around Sept 7–8, 2025, highlights a powerful narrative: crypto is no longer a fringe experiment, but a strategic asset and tool being adopted by major companies, banks, and governments. From educating students in Indonesia via blockchain, to reshaping wealth management in Asia, to pushing the envelope of corporate treasury management worldwide, these initiatives underscore how blockchain tech is permeating diverse sectors. Industry leaders say this trend is self-reinforcing. “Bridging crypto with established wealth channels paves the way for broader adoption,” as Matrixport’s Jihan Wu put it ^[168] – the more success stories emerge, the more peers will follow suit. As we enter the last months of 2025, expect to see even more Fortune 500 companies, financial institutions, and public agencies announcing their own blockchain pilots or crypto holdings, in a virtuous cycle driving the next leg of crypto’s global integration.

Major Technical Upgrades and Protocol Updates

The blockchain world never stands still – and early September saw important progress on protocol upgrades, network tests, and technical milestones across multiple projects:

Solana’s “Alpenglow” Upgrade Proposal: High-performance blockchain Solana is on the verge of a landmark technical overhaul. This week, Solana validators and core devs began voting on SIMD-0326, nicknamed the Alpenglow upgrade ^[169]. If enacted, this upgrade would replace Solana’s current consensus mechanism (TowerBFT) with a new off-chain voting system that dramatically speeds up confirmation times ^[170] ^[171]. In essence, instead of every validator waiting on-chain for supermajority votes (the essence of TowerBFT), validators would use an off-chain, leader-driven voting schedule to finalize blocks in sub-second time. The goal is to cut Solana’s transaction finality to mere milliseconds, from the current ~2–5 seconds. This is an aggressive change that could further solidify Solana’s reputation as one of the fastest chains, potentially “smashing past 100,000 TPS” in real-world conditions. In fact, Solana’s engineers already demonstrated the network handling 140,000 transactions per second in a recent test – exceeding the 100k TPS barrier for the first time ^[172] ^[173]. The Alpenglow proposal is what would implement the necessary consensus changes to achieve such throughput on mainnet. It’s a major technical shift for Solana’s core infrastructure ^[174], and not without controversy: the community is debating a new “1.6 SOL admission ticket” fee that would be required for validators under the new design (meant to prevent spam validators) ^[175]. Some worry this could centralize the network or create barriers to entry. Nonetheless, early sentiment indicates many are in favor, seeing it as the next evolution for Solana’s scalability. If Solana can reliably finalize blocks in under a second, it would push blockchain performance into unprecedented territory – possibly enabling use-cases like high-frequency trading or web-scale dApps that current networks struggle with. The outcome of the vote and, if approved, the rollout (likely in testnet first) will be closely watched. Solana’s ability to execute big upgrades is also under scrutiny after previous incidents – e.g. an update in Feb 2023 caused a major outage. So the pressure is on Solana’s devs to deliver Alpenglow smoothly. Should it succeed, Solana would firmly establish itself as an ultra-fast, low-latency chain heading into 2026.

Ethereum Developments: Ethereum’s core protocol is between major hard forks at the moment (having completed its last upgrade, Dencun, earlier this summer which included EIP-4844 “proto-danksharding”). While no hard fork occurred in early September, there are notable ongoing technical efforts: researchers are iterating on full danksharding (to eventually enable ~100x data throughput for rollups) and proposing improvements to the staking withdrawal queue. On the community side, Ethereum’s first holistic “trustless agent” framework was introduced – essentially smart contract “agents” that allow AI systems and external apps to interact with Ethereum in a secure way via NFTs and soulbound tokens ^[176]. This is pretty bleeding-edge, but the idea is to use NFTs as on-chain identity/reputation for AI bots (ensuring, for instance, an AI can hold an NFT proving it’s allowed to execute certain tasks on a DApp). While niche, this could open doors for autonomous on-chain services and has been a point of discussion at recent Ethereum forums.

Additionally, the Ethereum community is abuzz about the upcoming ETF decisions in the U.S. – not a protocol update, but something that could drastically affect network usage if approved. (SEC decisions on several ETH futures ETFs are due by late Sept; a spot ETH ETF filing is also pending post-Grayscale’s legal win.) If ETH ETFs launch, it could spur new waves of capital into Ether and by extension more development activity.

Bitcoin Protocol and Lightning: Bitcoin’s base protocol typically changes slowly, and no new BIP (Bitcoin Improvement Proposal) was activated this week. However, Bitcoin’s Layer-2 Lightning Network continues to expand capacity – it reached an all-time high of over 6,000 BTC capacity in channels globally. Developers are working on Bolt12 features (offer codes for easier payments) and “eltoo” (a potential upgrade to Lightning’s channel update mechanism), though those are still in testing. In terms of forks, Bitcoin Cash executed a minor upgrade earlier this month to improve its CashTokens functionality, and XRP Ledger is reportedly rolling out an AMM (automated market maker) feature soon after community vote (Ripple’s CTO David Schwartz teased that the XRPL AMM could go live by end of September).

Other Protocol Updates: A few smaller but noteworthy technical updates from around the ecosystem include:

Polygon 2.0: The Ethereum scaling project Polygon released its Phase 0 implementation of Polygon 2.0, including a new Staking Layer and upgrades to its proof-of-stake chain to eventually transition into a multi-chain ZK-rollup ecosystem. No immediate user-facing changes, but groundwork is being laid.
Cardano: IOG (Input Output Global) announced progress on Cardano’s Midnight sidechain (a privacy-focused chain) and hinted at an upcoming governance proposal to increase Cardano’s block size now that Hydra (Layer-2) is deployed. Cardano’s next fork (nicknamed “Sonnet”) is expected later in 2025 with improvements to Plutus scripts.
Chainlink CCIP: Chainlink’s new Cross-Chain Interoperability Protocol (CCIP) saw adoption by several DeFi protocols, enabling them to send messages and tokens across different chains securely. This isn’t a “fork” but a network service upgrade facilitating cross-chain functionality.
Tezos “Nairobi” upgrade: In late August, Tezos activated its 15th protocol upgrade, Nairobi, boosting throughput and adding zk-rollup enhancements. By early September, Tezos devs were already proposing the next upgrade (“Olympia”) to further improve Layer-2 performance.
Sui and Aptos: The newer L1s, Sui and Aptos, are iterating fast. Sui’s developers announced improvements in object storage and a roadmap for dynamic NFTs, while Aptos enabled a feature for “resource account” access which enhances security for certain on-chain accounts.
Cosmos/IBC: The Cosmos Hub introduced a proposal to implement ICS-608 (Interchain Security v3) which will allow multiple consumer chains to leverage the Hub’s validator set – effectively “shared security”. And the Osmosis DEX chain in Cosmos is testing threshold decryption for front-running protection in its mempool.

While these technical bits can be esoteric, they collectively show a picture of rapid innovation across blockchain platforms. Each network is seeking to improve performance, security, and features to attract users and developers. Crucially, none of the recent upgrades or proposals caused any major network disruptions – indicating that the industry is learning from past mishaps and professionalizing its release processes.

One technical controversy to note came from the Sandbox metaverse platform (built on Ethereum and Polygon): On Aug 29 it was reported that Sandbox had to restructure and lay off 50% of its staff due to low user engagement, and in doing so it floated the idea of open-sourcing parts of its code or merging land parcels to revitalize the platform ^[177]. Co-founders Arthur Madrid and Sebastien Borget stepped down from executive roles, replaced by Animoca’s Yat Siu ^[178]. The SAND token is down ~90% from its peak, raising questions about the viability of certain Web3 gaming/metaverse architectures. While not a protocol “upgrade”, this is a technical pivot – a high-profile project acknowledging its current tech and model didn’t achieve scale, and needing a new approach. The metaverse space may see more such shifts as teams adapt to what users actually want (potentially more interoperability, better VR, or smaller-scale experiences vs sprawling empty virtual cities). It’s a reminder that technical success isn’t just about throughput or security, but also about building something people will use.

In conclusion, the blockchain and crypto sector as of September 7–8, 2025, is brimming with activity on all fronts – markets, regulation, DeFi, NFTs, enterprise, and core technology. Bitcoin and Ethereum remain anchors, but we’re seeing a diversification of developments: governments crafting rules, corporations integrating crypto, new financial products launching, and underlying protocols pushing boundaries of speed and functionality. Veteran observers note that this current period feels more grounded than past hype cycles – there’s less “FOMO frenzy” and more steady, incremental progress (with occasional dramatic flourishes like a $110K BTC or a billionaire’s NFT binge).

As regulatory clarity improves (especially in the U.S. with the SEC’s new approach and potential legislation), many expect a flood of pent-up institutional adoption to finally be unleashed – from Bitcoin ETFs to banks tokenizing assets. Reputable voices are turning more bullish: “It’s not just about crypto prices anymore, it’s about crypto’s place in the broader financial system,” a Bloomberg analyst wrote, noting that each week brings it deeper into the mainstream. This weekend’s news certainly reflects that trend. Crypto is shaking off its wild west image and melding with traditional systems – whether via licensed exchanges like Backpack, or treasury funds like HashKey’s, or education programs like Indomobil’s.

Of course, challenges remain: hacks still happen, user trust must be rebuilt after scams and collapses, and not every experiment will pan out (see: Sandbox). But the comprehensive snapshot from Sept 7–8, 2025, shows an industry that’s maturing through adversity and gearing up for its next chapter. If the momentum of this early-September news continues, the remainder of 2025 could see crypto and blockchain achieving milestones – be it Bitcoin’s first inclusion in a major stock index, or a DeFi platform hitting a million users, or a nation launching a CBDC – that once seemed out of reach. Stay tuned, because as this roundup shows, the crypto world’s evolution is accelerating on all fronts.

Sources:

CoinDesk – Asia Morning Briefing (Sept 8, 2025) ^[179] ^[180]; Strategy Qualifies for S&P 500 ^[181] ^[182]; Bitcoin Illiquid Supply Hits Record ^[183]; OKX Fined in Netherlands ^[184] ^[185]; WLFI Freezes Justin Sun Wallets ^[186]; Backpack Opens Regulated Perp Exchange ^[187] ^[188].
Reuters – HashKey to Launch $500M Crypto Fund (HK) ^[189] ^[190]; US SEC Unveils Crypto Agenda ^[191] ^[192]; Polymarket Greenlit by CFTC ^[193] ^[194].
CryptoDaily – Weekly Roundup (Sept 7, 2025) ^[195] ^[196] (Justin Sun WLFI claim; Strategy S&P inclusion requirements).
CoinCentral – MicroStrategy Excluded from S&P 500 ^[197] ^[198]; NFT Trading Surges in 2025 ^[199] ^[200]; Solana 100K TPS Test & Alpenglow ^[201] ^[202].
Cryptonews/Cryptorank – Crypto Market Live Updates (Sept 8) ^[203] (Worldcoin +20%, BTC ~$111K, Doge +7%).
Contentworks Agency – Regulations Roundup (Sept 2025) ^[204] ^[205] (FCA lifts crypto ETP ban); ^[206] (HKMA stablecoin rules); ^[207] (China on stablecoins); ^[208] (SEC token classification plans).
Markets Insider (Business Insider) – Indomobil & Space and Time Onchain Education ^[209] ^[210]; ^[211] (Indomobil quote).
ts2.tech News – Aug 28–29 Roundup ^[212] (Sandbox layoffs, 100–300M treasury, usage plunge); ^[213] ^[214] (Matrixport & Fosun partnership summary); ^[215] (Jihan Wu quote on adoption); ^[216] (ARK invest Bitmine Immersion, 1.7M ETH treasury); ^[217] (VersaBank tokenized deposits pilot); ^[218] (SOL $205 +9%, XRP >$3); ^[219] (BTC resistance ~$113K, Glassnode on cost basis); ^[220] (ETH futures $10B OI, +$1.3B inflows to ETH funds).
CoinDesk – Polymarket CFTC Return ^[221] (Nick Jones quote); SEC Crypto Roadmap ^[222] (Paul Atkins quote); 21Shares on UK Crypto ETPs ^[223] (Russell Barlow quote).
Additional: DappRadar / Cointelegraph via CoinCentral ^[224] (NFT gallery in Ibiza); Yahoo/Decrypt via ts2 ^[225] (Adam Weitsman buying 5,000 Otherdeeds).