Crypto Industry News & Market Trends

Gold Forecast: Defending $4,400 is critical for XAU/USD buyers

Gold is replicating negative trades seen in Asia on Monday, as sellers return early Tuesday to challenge critical support just above the $4,400 level once again.　　Gold struggles ahead of key US data　　Gold is fading the previous recovery from eight-day lows of $4,397, as the US Dollar (USD) rebounds sharply amid a risk-off market environment and rising US Treasury bond yields across the curve.　　The Greenback continues to draw support from increased bets around a September Federal Reserve (Fed) interest rate hike, following Chairman Kevin Warshs explicit signal on Friday that rate hikes may be needed to curb inflation.　　Markets are pricing in a 66% chance of such a move, up from 41% a week ago, according to the CME Groups FedWatch Tool.　　Additionally, the renewed outbreak of hostilities in the Middle East revives the geopolitical risk premium among traders, underpinning the safe-haven appeal of the USD and acting as a headwind for the Greenback-denominated bullion.　　US President Donald Trump threatened further strikes against Iran on Monday after the first exchange of direct attacks in a month, while the United Kingdom Maritime Trade Operations (UKMTO) said that a tanker was reportedly ‌struck by three projectiles while sailing out ‌of the ‌Strait of Hormuz,　　Gold traders now

09-01Industry

Bitwise XRP ETF Crosses $500M in Assets 9 Months After Launch

Bitwises XRP ETF has surpassed $500 million in assets under management nine months after its launch. The fund now holds nearly 364.8 million XRP, giving brokerage-account investors indirect exposure to the crypto token without direct custody.　　Key TakeawaysBitwises XRP ETF holds $502.7 million in net assets.The funds XRP holdings have reached nearly 364.8 million.Assets under management reflect more than investor inflows.　　Bitwise XRP ETF Passes $500 Million Milestone　　Bitwise Asset Management stated in an Aug. 31 post on X that its XRP exchange-traded fund had crossed $500 million in assets under management nine months after its launch. The fund lets brokerage-account investors gain exposure to XRP indirectly, without the custody and access hurdles of buying the crypto token outright.　　The asset management firm shared:　　“14 years in, and the $XRP community continues to be unstoppable. The Bitwise XRP ETF (XRP) crossed $500,000,000 in AUM—just 9 months after launch.”　　“14 years in, and the $XRP community continues to be unstoppable. The Bitwise XRP ETF (XRP) crossed $500,000,000 in AUM—just 9 months after launch.”　　“Grateful for the chance to expand mainstream access to XRP and steward investors exposure to the opportunities in this space,” the company added.　　The funds official data showed approximately $502.7 million in net assets as of

09-01Industry

Ethereum leverage crashes 91%, yet ETH price holds firm - Heres why

As Ethereum [ETH] advanced toward $2500, traders went all-in, adding massive amounts of leverage on both Binance and Bybit.　　The combined Open Interest (OI) on these two exchanges grew by $1.12 billion over the seven days ending on the 22nd of August, after traders began to chase Ethereums breakout.　　Recently, that momentum has dramatically fallen off. As of the 30th of August, the leverage collapsed 90.9% to just $102 million. Binance fell from $843 million to $94 million, while Bybit plunged from $277 million to $8 million.　　Source: CryptoQuant　　However, ETH is still trading near $2500, even though derivatives are being added by much smaller margins. In other words, this means that the rally is now relying less on rapid expansion of derivatives in order to continue supporting the price.　　Discover more　　FINANCE　　News　　Currencies & Foreign Exchange　　Ultimately, if Ethereum holds $2500 while leverage decreases, then this would likely indicate a rally based on growing demand.　　With leveraged trading cooling, Ethereums support is increasingly coming from spot ETFs.　　The volume of ETH being bought by institutions through spot ETFs has grown with each session since the 15th of August. Since then, U.S.-based Ethereum ETFs have had approximately $1.5 billion in investment over 10 days.　　Source: Farside　　Over this same period BlackRocks ETHA

09-01Industry

Strategy splits $603 million share sale between Bitcoin purchases and STRC support

Strategy raised $602.8 million by selling 4,531,421 MSTR common shares in one week, then split the proceeds among a renewed Bitcoin purchase, support for its STRC preferred stock, and additional cash.　　Related Asset Bitcoin #1 BTC · $78,464.83 24-hour change: up 0.18% 24H Up 0.18% 7D Down 0.38% 30D Up 25.09%　　The companys Aug. 31 filing attributed $369.7 million to buying Bitcoin, $151.8 million to repurchasing 1,557,177 STRC shares, $50.7 million to STRC dividends, and $30 million to its USD Cash account.　　STRC is variable-rate cumulative perpetual preferred stock. The transaction shows Strategy using new common-stock proceeds for both Bitcoin accumulation and preferred-stock support.　　The four disclosed uses total $602.2 million, $0.6 million below the filings rounded $602.8 million net-proceeds figure. The filing reports each amount to one decimal place but does not separately reconcile the difference.　　Related Company Strategy Business intelligence software　　Infographic showing Strategys $602.8 million of MSTR proceeds split among Bitcoin purchases, STRC repurchases, STRC dividends, and additional USD Cash.Bitcoin remained the largest destination　　Strategy bought 4,603 BTC from Aug. 24 through Aug. 30 at an average price of $80,318, inclusive of fees and expenses. The purchase lifted its holdings from 840,447 BTC to 845,050 BTC, according to the filing and its official Bitcoin

09-01Industry

Tom Lee Says September Crash Fear Could Trigger a Stock Rally, Push Bitcoin 2x

Fundstrat‘s Tom Lee is treating September’s crash fear as a contrarian signal. He says a market this braced for weakness could rally instead, carrying Bitcoin (BTC) toward $150,000.　　Lee has not dropped his correction call. He has moved it, pointing to the September 15 Federal Reserve (Fed) meeting as the moment that decides direction.　　The September Fear Lee Is Betting Against　　The fear has an evidence base, because across 10 US midterm election years since 1986, the average stock market low landed on September 2.　　Those lows followed an average slide of 16.77% from the prior high. That history is what makes the current dangerous September pattern worth watching.　　This year adds a hawkish twist. Three Fed presidents voted for a rate hike in July, not a cut. Chair Kevin Warsh then used his first Jackson Hole speech to put inflation first. Six-month PCE inflation was running at 4.1%.　　Bonds tell the same story, with the 30-year Treasury yield has held above 5%, well clear of an effective fed funds rate near 3.63%.　　US Treasuries and Bitcoin Price Performance. Source: TradingView　　“Im actually now thinking because of all this mounting concern, the market might surprise us to the upside,” Lee said, suggesting he sees a crowd leaning too

09-01Industry

Kalshi bans George Santos for $17,839 market manipulation

Kalshi has permanently banned former U.S. Representative George Santos and imposed a $71,356 penalty after finding that he manipulated an attendance market to earn $17,839.57.　　Kalshi‘s Aug. 28 disciplinary notice said Santos placed large trades between Feb. 2 and Feb. 25 in contracts that paid according to whether he attended President Donald Trump’s 2026 State of the Union address.　　Kalshi says Santos traded an outcome he could control　　As the person whose attendance determined the contracts result, Santos had direct influence over the event. Kalshi Rule 5.17(z) prohibits members from trading contracts when they can affect the underlying outcome.　　Despite the restriction, Santos bought and sold contracts tied solely to his own attendance, the compliance department found. His trades involved both “Yes” contracts, which would pay if he appeared at the event, and “No” contracts, which would pay if he did not.　　During the trading period, Santos published several statements about his travel and attendance plans. Kalshi said some of the posts were false or misleading and were made to move prices before he purchased or sold the relevant contracts.　　The exchange determined that the statements had their intended effect on the market. By moving between “Yes” and “No” positions while controlling information about his plans,

09-01Industry

Strategy makes first Bitcoin purchase since June, investing $370 million

Strategy (MSTR) splashed $369.7 million to acquire 4,603 Bitcoin (BTC) for its corporate treasury last week, its first purchase since June.　　Strategy funds Bitcoin purchase and STRC buybacks through ATM proceeds　　The companys BTC acquisition last week averaged $80,318 per BTC, boosting its total holdings to 845,050 BTC, according to a filing with the US Securities and Exchange Commission (SEC) on Monday.　　Strategy funded the purchases with proceeds from its at-the-market (ATM) stock offering program, which generated $602.8 million from sales of its Class A common stock (MSTR). The company allocated $369.7 million from the proceeds toward Bitcoin purchases.　　Discover more　　Currencies & Foreign Exchange　　Engineering & Technology　　FINANCE　　Strategy also repurchased 1.5 million shares of its STRC preferred stock for $151.8 million, while $50.7 million funded dividends on STRC stock. It added $30 million to its USD Cash liquidity account.　　Strategy noted that $364.8 million remained available under its Digital Credit Securities Repurchase Program, while $1 billion remained available under its MSTR common stock repurchase program.　　The purchase marks Strategys first acquisition since late June, when it acquired 520 BTC. Between then and this purchase, the company sold roughly 6,916 BTC for $432.5 million, with two sales recorded in early August and its largest sale, 2,225 BTC, in early

09-01Industry

Phemex puts 82 tokens on notice over liquidity and project compliance concerns

Phemex placed 82 unique USDT spot pairs under Special Treatment on Aug. 31, requiring users to pass a mandatory Risk Cognizance Test before trading them. The restriction took effect at 10:00 UTC and applies to established assets including ETC, XTZ, SNX, YFI, NEXO, AXS, USDe and TUSD.　　Related Company Phemex Fast cryptocurrency and derivatives exchange　　The exchange announced the move in separate 43-pair and 40-entry notices. Together, the pages contain 83 entries, but MAGIC/USDT appears twice in the second notice, leaving 82 distinct markets.　　Infographic showing Phemexs Special Treatment review of 82 USDT spot pairs, including risk criteria, affected pairs, and possible delisting.The 82 pairs under review　　The first notice lists SHELL/USDT, PORTO/USDT, ANKR/USDT, SPELL/USDT, OPEN/USDT, CVC/USDT, DOLO/USDT, AIN/USDT, KERNEL/USDT, ORDER/USDT, TURTLE/USDT, GIGA/USDT, KAT/USDT, ZKP/USDT, DOOD/USDT, NS/USDT, WCT/USDT, TKO/USDT, FIDA/USDT, ZBCN/USDT, 1000SATS/USDT, RED/USDT, ALLO/USDT, TFUEL/USDT, GWEI/USDT, 2Z/USDT, SIREN/USDT, RAVE/USDT, HEI/USDT, BANK/USDT, Q/USDT, TST/USDT, BLUAI/USDT, PHA/USDT, AXS/USDT, NEXO/USDT, MMT/USDT, COTI/USDT, KSM/USDT, ALICE/USDT, SLP/USDT, POPCAT/USDT, and C98/USDT.　　Related Asset Tether USDT · Stablecoin　　The second notice has 40 entries but 39 unique pairs: GNS/USDT, API3/USDT, YFI/USDT, MEME/USDT, CFX/USDT, ID/USDT, REZ/USDT, ACT/USDT, ZK/USDT, MAGIC/USDT, CYBER/USDT, MASK/USDT, HMSTR/USDT, CATI/USDT, DOGS/USDT, ME/USDT, AUDIO/USDT, G/USDT, METIS/USDT, XTZ/USDT, ETC/USDT, PORTAL/USDT, XAI/USDT, SNX/USDT, BANANA/USDT, JOE/USDT, USDE/USDT, 1000000BABYDOGE/USDT, GMT/USDT, TUSD/USDT, DIA/USDT, SOLV/USDT, RPL/USDT, 1000CHEEMS/USDT, B2/USDT,

09-01Industry

These 2 Bitcoin Derivatives Signals Could Trigger a Long Squeeze: Analyst

Bitcoin could face forced selling if leveraged longs return and BTC subsequently loses key support levels.　　Bitcoins derivatives market is showing a curious split, with open interest falling nearly 4% since August 21, while funding costs for long positions have risen quickly.　　Analyst Axel Adler Jr. says that combination could leave BTC exposed to a long squeeze if traders start rebuilding leverage while maintaining an increasingly bullish bias.　　Falling OI Meets Rising Funding　　In Adler‘s latest brief, he put the focus on what is happening beneath Bitcoin’s price, with BTC-denominated open interest falling from 331,100 BTC on August 21 to 318,600 BTC on August 31, a decline of 3.8%. Over the past 24 hours, another 2,850 BTC has left open positions.　　That means the derivatives market is still in a deleveraging phase following the short squeeze. But traders have not rushed to rebuild the amount of leverage that was cleared out during the earlier move.　　Meanwhile, funding tells a different story, with the current funding rate at 0.00906%, while the eight-hour average sits at 0.00821% and the 24-hour average at 0.00725%. The shorter-term average is already 13% above the 24-hour figure, pointing to a stronger preference for long positions among active traders.　　“The shorts have already been

09-01Industry

George Santos Bet on Whether He'd Show Up to the State of the Union—Kalshi Just Banned Him for Life

In briefKalshi permanently banned former Rep. George Santos and fined him $71,356 for manipulating a market tied to his own attendance at the State of the Union address—its first lifetime ban of a former member of Congress.Kalshi found Santos placed large trades between Feb. 2 and 25, then made false or misleading public statements to move prices, profiting $17,839.57 and violating rules on manipulation and trading with influence over an outcome.Its the latest integrity scandal to hit prediction markets, following multiple recent cases.　　Prediction market Kalshi has permanently banned former Rep. George Santos, finding that he manipulated a market tied to his own attendance at the State of the Union address and pocketed nearly $18,000 in the process.　　In a disciplinary notice dated Aug. 28, Kalshis compliance department said Santos placed a series of large trades between Feb. 2 and Feb. 25 in a market whose outcome hinged on whether he would attend the event.　　Myriad: When will Polymarket launch its token？ Click to make your prediction.　　As someone capable of influencing that outcome, Santos was barred from trading it under exchange rules. He then made a string of public statements about his attendance, some of them false or misleading, in a bid to

09-01Industry

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