Galaxy Digital Puts $100M of sUSDS Into Corporate Treasury

Key TakeawaysGalaxy put $100M of Skys sUSDS into its treasury and approved it as institutional loan collateral.The move brings DeFi yield into a $1.4B loan book, expanding sUSDS as institutional infrastructure.Sky must show sUSDS can scale with public-company treasuries as supply tops $5.52B.  Galaxy Puts DeFi Yield on Its Balance Sheet  Galaxy Digital is putting real treasury capital behind one of DeFis largest savings products.  The Nasdaq-listed digital-asset firm has added $100 million of sUSDS, Sky Protocols yield-bearing savings token, to its corporate treasury. Galaxy also approved sUSDS as eligible collateral across its institutional trading business, which serves more than 1,600 counterparties.  Galaxy funded the position using its own balance sheet. It also acquired an undisclosed amount of SKY, the governance token of Sky Protocol, according to the announcement.  The deal is significant because it moves sUSDS beyond crypto-native savings and into the treasury operations of a public company.  Galaxy Turns sUSDS Into Institutional Collateral  Under the arrangement, Galaxy clients can post sUSDS against loans while continuing to earn the Sky Savings Rate on the full amount for the duration of the loan.  That creates a potentially more efficient use of capital. Instead of choosing between earning yield and using an asset as collateral, institutional clients can do

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Swiss bank shields Bitget institutions while retail funds freeze

Bitget says about $387.5 million in assets was transferred to attacker-controlled addresses during a Sept. 24 wallet breach. Its withdrawals remained suspended in notices issued through Sept. 25, even as deposits and trading continued.  Related Company Bitget Trading platform for crypto products  On the day of the breach, Sygnum announced that Bitgets institutional clients could trade against collateral held at the Swiss bank instead of placing that collateral in Bitgets wallets.  The juxtaposition puts a question behind the promise of off-exchange custody: which assets sit beyond an exchange wallet breach, and what still depends on the exchange when trading or withdrawals are disrupted?  Sygnums route is for eligible institutional clients who onboard with its bank. The companies have not disclosed how many Bitget clients use it or whether any Sygnum-held collateral was connected to this incident.  A breach alongside a new custody route  Bitget said its systems detected unauthorized transfers at 18:31 UTC on Sept. 24. Its initial notice placed the affected funds at about $351.6 million and said the breach reached portions of its hot and warm wallet layers, while cold wallets remained secure.  In a Sept. 25 update, Bitget raised the estimated assets transferred to attacker-controlled addresses to about $387.5 million after including Zcash and

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Why is Backpack [BP] crypto up? RWA rebound, 73x short liquidations & more…

Backpack [BP] rallied more than 43% in the past 24 hours, bringing its weekly gains above 121%. During this period, the price of BP went on to make a new peak value of about $1.3994.  Even in trends, BP led all other coins in social sentiment. Other factors that contributed to this sharp uptick in price were volume and total assets deployed.  Analyzing resurgence in RWA-themed coins  First, there was a market-wide resurgence in the real-world asset (RWA) sector, with BP leading all in daily gains, according to CoinGecko. Other RWA-themed coins that came close were Ondo Finance [ONDO] and Quant [QNT], of which both grew over 25%.  The uptrend was amplified by a spike in perpetual liquidations of shorts, which was 73 times bigger than that of longs.  Further analysis of the protocol, which is built on Solana [SOL], unmasked more metrics.  For instance, Total Assets deployed on BP reached a new high of $604.75 million. Over the past week, the average daily asset transfer count reached 1 million.  As a result, asset holders surged by 204%, surpassing the 242K mark, as per Token Terminal.  Additionally, the monthly token trading volume surged by 175%, to about $157 million. But from a daily perspective, the volume had quadrupled

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EBA Urges Crypto Lending Rules In MiCA Review

The European Banking Authority (EBA) has asked Brussels to strengthen its crypto rulebook, publishing its response to the European Commissions targeted consultation on the review of the Markets in Crypto-Assets Regulation (MiCA) on September 24. MiCA has been in full effect since December 30, 2024, but the regulator argues the sector is evolving too quickly for the framework to stand still, and it lists lending, stablecoins, asset classification and reporting among the areas that need work.  Crypto lending and DeFi in scope  The EBAs most concrete request is for the Commission to consider regulating crypto-asset lending, including where crypto-asset service providers give customers access to decentralised lending protocols. It frames the move as a consumer-protection measure, warning that lending risks currently sit outside the perimeter MiCA was designed to cover and that borrowers and lenders have little of the disclosure and safeguards applied elsewhere in the market.  Multi-issuer stablecoins and reserve rules  On stablecoins, the EBA points to third-country multi-issuer schemes as a source of significant to very significant risk and recommends regulatory changes to contain them. It also wants a fresh look at reserve requirements, in particular the minimum amount of reserves issuers must hold as bank deposits, while preserving effective risk management.

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ECB Seeks to Link TIPS Payment System With Brazil's Pix

Key TakeawaysThe ECB is exploring a link between TIPS and Brazils Pix to enable faster, cheaper EU-Brazil payments.Connecting the systems creates a low-cost alternative to SWIFT, reducing reliance on US dollar networks.The ECB plans further links with Indias UPI and Swiss networks to expand global euro payment reach.  Europe to Test Interlinking Its Payment System With Brazils Pix  The ECB is taking the first steps to expand its payments infrastructure by linking its systems to other international payment networks.  On Thursday, the bank announced that it was evaluating the feasibility of interlinking the TARGET Instant Payment Settlement (TIPS) platform with Brazils Pix, a national rapid payment network, as part of the G20 cross-border payments roadmap. In a press release, the institution declared it would “explore the potential for interlinking TIPS and Pix by assessing technical, operational, legal, and business considerations”in close collaboration with the Central Bank of Brazil.  As economic flows between the EU and Brazil grow, the ECB highlighted that this connection could enable faster, lower-cost instant payments for both retail and institutional users in the two regions. Brazil is the EUs tenth-largest partner, with over €87 billion (nearly $100 billion) in bilateral trade registered in 2025.  While TIPS currently settles real-time payments in

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NEAR reclaims $5 as Bitwise ETF clears key regulatory hurdle

NEAR Protocol‘s native token climbed above $5 on Friday, extending a sharp multi-week rally as progress on a proposed Bitwise exchange-traded fund (ETF) coincided with growing activity across the network’s ecosystem.  SEC clears Bitwise NEAR ETF to list on NYSE  The US Securities and Exchange Commission (SEC) declared Bitwise‘s registration statement for the NEAR ETF effective, clearing a key regulatory step for the proposed product. Bitwise also filed Form 8-A to register the fund’s common shares for listing on NYSE Arca under the ticker NRR.  These filings bring the proposed ETF closer to trading on a US exchange, although the registration statement and Form 8-A do not confirm a launch date.  The Bitwise NEAR ETF is designed to provide investors with exposure to the value of NEAR held by the fund. The product also includes a staking component, allowing the fund to seek additional returns through staking its holdings.  Coinbase Custody will serve as the funds custodian, while Bitwise has set the sponsor fee at 0.75% annually.  NEAR expands trading reach following listing on Hyperliquid  The ETF progress unfolds alongside a broader expansion of NEAR‘s ecosystem. NEAR Protocol confirmed that the NEAR/USDC pair is now live on Hyperliquid’s spot market.  The pair has also been added to Hyperliquids

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XRP ETF inflows hit $38M—can price break the $1.60 barrier?

US spot XRP exchange-traded funds saw around $38 millionin two trading sessions, showing a fresh sign of investor demand.  XRP has also recovered to around the $1.56price level, but it has yet to overcome selling pressure near the $1.60price level. It must overcome this level before the latest rise it is seeing can develop into a stronger one.  Bitwise leads latest XRP ETF inflows  XRP ETFs saw $14.89 millionin net inflows on September 24, according to SoSoValue data. This was after it saw around $23.17 millionin the previous session, bringing the two-day total to just over $38 million.  Bitwises fund led the latest daily inflows with $9.91 million. Franklin Templeton followed with $4.98 million, while no net movement could be seen from the other listed products.  The five funds now hold a combined $1.70 billionin assets. Their cumulative net inflows have reached $1.76 billion.  Bitwises XRP holdings have also grown. The fund held 401.42 million tokenson September 23, which is up by 14.18 millionfrom two days earlier.  Its XRP was worth about $613.89 million, according to Bitwises official fund page.  XRP price faces its next test at $1.60  XRP traded near the $1.56price level at the time of this writing, having gained about 2%during the session.  The price has recovered

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Tesla ramps Optimus production 10-fold but robot hands are holding Elon back

Tesla (NASDAQ: TSLA) has pushed Optimus production up by about 10 times, but the robot‘s hands are now one of the biggest things slowing Elon Musk’s production plan.  Tesla was making only a few dozen humanoid robots each week during the second quarter. That figure has now moved into the hundreds per week, according to The Information.  Getting from there to steady mass production is proving harder. Tesla is dealing with supplier limits, failures in automated factory equipment and a difficult hand assembly process. The company wants to reach 1,000 Optimus units per week by the end of the year, before eventually going after an eye-popping target of 20,000 robots every week.  The version coming out of Fremont right now is Optimus V3. Tesla made the frame lighter, added better camera systems and changed the body so it looks more like a human than older Optimus models.  Underneath that hardware is an AI system trained with more than 500,000 hours of data gathered from real-world activity. That does not mean V3 can simply walk into any building and figure everything out for itself. Its current work is narrow.  Tesla has been running the robots through specific jobs inside supervised areas in Palo Alto and on

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Binance-Owned Coinmarketcap Buys Coinglass as Data Debate Grows

Key TakeawaysCoinmarketcap acquired Coinglass, adding derivatives data across 28 exchanges and 2,500+ instruments.The deal gives Coinmarketcap deeper leverage data for 115M monthly users, raising concentration concerns.The next question is whether Coinglass will continue to stay independent as Binance-linked ownership deepens.  Coinmarketcap Adds Coinglass to Build Deeper Crypto Market Data  Coinmarketcap is expanding from price tracking into the deeper plumbing of crypto market structure.  The companys statement on Friday, Sept. 25, said that it has completed the acquisition of Coinglass, the derivatives data platform widely used by traders to monitor open interest, funding rates, liquidations, long-short positioning and options activity.  Financial terms were not disclosed.  Coinglass covers 28 exchanges and more than 2,500 instruments, while reportedly serving over 5 million monthly users, with more than 10,000 API customers. Coinmarketcap says its own platform reaches roughly 115 million users each month.  That combination gives the buyer access to a much broader view of how leverage is building across crypto markets.  The strategic logic is straightforward.  Coinmarketcap already dominates the retail-facing layer of crypto market data, including prices, rankings, and asset information. Coinglass adds the derivatives side, where much of the markets risk is expressed.  “Derivatives are where most of the markets risk is taken, and Coinglass is where most people go

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Ondo surges 26% as BlackRock tokenization push expands – But THIS risk suggests…

Ondo price pumped 26.73% after BlackRock-powered portfolios expanded its tokenization push, as its spot volume surged 276.89% amid the breakout.  Recently, Ondo Finance introduced three Ondo Intelligent Portfolios utilizing portfolio strategies developed by BlackRock specifically for the protocol. These products provided professionally constructed investment strategies directly on-chain vie single transferable assets.  More importantly, the launch expanded Ondos tokenization proposition beyond creating access to individual real-world assets. In fact, investors could instead gain exposure to the diversified strategies through exchanges, wallets, and compatible DeFi applications.  Additionally, the development also reinforced Ondos institutional outlook since BlackRock supplied the underlying portfolio strategies.  Meanwhile, the tokens rapid price response implied traders quickly responded to the broadened tokenization offering.  Spot buyers take control of the rally  Elsewhere, the ONDOs Spot Taker CVD metric highlighted that taker buyers dominated as the token price increased. Therefore, aggressive bulls absorbed the available spot supply as ONDO pushed through several key resistance levels.  This positioning hence complemented the 276.89% spot volume increase during the rapid price expansion. The higher volume implied considerably greater participation, accompanying ONDOs 26.73% price advance.  Crucially, the taker-buy dominance meant traders actively crossed the spread to secure ONDO. Hence, the spot profile provided a stronger demand beneath the BlackRock-driven outlook.  Subsequently, Ondo price pushed

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