The crypto space continues to evolve at a rapid pace, with developments that could have significant implications for institutional investors and financial professionals. Coinbase's potential launch of a token for its Ethereum layer-2 network, Base, is a notable shift in strategy. While details are sparse, the move underlines the growing trend of crypto exchanges exploring new avenues for growth and community engagement. However, it's crucial to note that Coinbase has not made definitive plans yet, highlighting the exploratory nature of these initiatives.
Meanwhile, BitMine's significant holdings in Ethereum, backed by strategist Tom Lee's belief in Ethereum as the "next Bitcoin", points to a growing institutional interest in Ethereum. This trend is further underscored by Forward Industries' acquisition of nearly 7 million SOL tokens, marking a significant milestone in its Solana treasury strategy. These moves suggest a broader shift in institutional strategies towards diversification in the crypto space.
On the regulatory front, Ripple Labs' application for a national trust bank charter could have significant implications for the role of its native cryptocurrency, XRP. The potential for RLUSD to be held directly at a Reserve Bank could increase the flow of market-making interactions where XRP often serves as a base inventory. However, it also raises questions about the possible sidelining of XRP in favor of RLUSD for end-to-end enterprise payment flows.
In the altcoin market, Solana's recent dip and recovery highlight the market's sensitivity to external factors such as the Federal Reserve's rate decisions. This is a reminder of the importance of keeping a close eye on macroeconomic developments when navigating the crypto market.
Overall, these developments highlight the dynamic nature of the crypto space and the need for legal and financial professionals to stay informed and adaptable. As the sector continues to mature, understanding these shifts and trends will be vital for effective decision-making and strategy development.
The following article summaries have been sourced from Decrypt, CryptoSlate, NewsBTC, and Crypto Briefing. Each summary includes a direct link to the original source.
Coinbase, a leading cryptocurrency exchange, has announced that it is considering the launch of a token for its Ethereum layer-2 network, Base. This news marks a significant shift in the company's stance, as it has previously stated that it was not actively considering such a move. The announcement was made by Jesse Pollak, Coinbase's Head of Base, during a presentation at the Basecamp event.
The company is still in the early stages of exploring the potential token and has not provided specific details regarding its timing, design, or governance. However, Coinbase has expressed its commitment to involve the community in the process and to build in an open manner. Despite the exploration, the company clarified that there are no definitive plans for a network token yet. The potential token is being considered as a means to accelerate the joint mission of the company and the network.
Bitcoin mining company BitMine Immersion has announced that it holds over $10.7 billion in assets, with nearly $10 billion of that in Ethereum (ETH). The Nasdaq-listed firm, which trades under the ticker BMNR, currently holds 2,151,676 ETH, valued at $9.7 billion, and 192 Bitcoin (BTC), worth nearly $22 million. The company also disclosed that it has $569 million in unencumbered cash, a $214 million stake in crypto treasury Eightco, and other crypto holdings.
BitMine, backed by Peter Thiel, is the largest corporate holder of ETH, the second-largest cryptocurrency by market value. The company shifted its focus to raising money to buy ETH in May. Tom Lee, the strategist behind BitMine's ETH acquisition strategy, has been a long-time BTC supporter but believes that Ethereum could be the "next Bitcoin" due to increasing institutional interest. He reiterated the company's goal to acquire 5% of the total Ethereum supply, stating that Ethereum is one of the most significant macro trades over the next 10-15 years. Lee also noted that Wall Street and AI's move to the blockchain could lead to a significant transformation in today's financial system, with most of it happening on Ethereum.
BitMine's stock has seen a significant increase, rallying over 1,133% since the end of June. It was recently trading at nearly $53 per share, up by nearly 5% on Monday. The company's strategy of investing in Ethereum follows a model pioneered by Strategy, formerly known as MicroStrategy, which shifted from software development to buying Bitcoin in 2020. Other Nasdaq-listed companies have followed suit, purchasing not only Bitcoin and Ethereum but also altcoins like Solana, XRP, and Toncoin.
Forward Industries, a medical design firm, has become the largest publicly traded Solana treasury after acquiring nearly 7 million SOL tokens for $1.58 billion. The New York-based firm's acquisition was funded by the proceeds from a $1.65 billion private investment in public equity (PIPE) that it completed recently with financing from Galaxy Digital, Jump Crypto, and Multicoin Capital. The purchase was made through a combination of on-chain transactions and open-market purchases, including $1 million purchased through Solana DEX aggregator DFlow.
The acquisition marks a significant milestone for Forward Industries as it begins executing its Solana treasury strategy. The firm plans to build the world's largest Solana treasury company, a move aimed at advancing the Solana ecosystem and delivering long-term value for its shareholders. Following the news of the purchase, shares of Forward Industries rose by 1.32% and have increased by more than 27% in the last five trading days. The firm also anticipates making more on-chain transactions in the future, which it believes will benefit shareholders through the "best execution" of trades.
Solana-based memecoin launchpad, Pump.fun, has seen a significant increase in adoption recently, with its native PUMP token reaching an all-time high of $0.0086 on September 14. Despite struggling to gain traction since its July debut, the platform has managed to regain market attention through product upgrades. A key factor in this resurgence has been the relaunch of Pump.fun's livestreaming feature, which had previously been criticized for unsafe broadcasts. The reintroduction of this feature has led to a surge in user activity, contributing directly to engagement and platform revenue.
Pump.fun's co-founder, Alon Cohen, stated that the platform has already surpassed Rumble in terms of average concurrent streams and now controls about 1% of Twitch's market share and 10% of Kick's. Cohen also indicated that the project is no longer solely targeting crypto-native audiences, but is seeking to establish a presence in mainstream content streaming. Despite criticism, Cohen remains optimistic, arguing that new entrants always face scrutiny and competition. The renewed activity on the platform has resulted in record earnings for creators, with data from Dune Analytics showing that creator earnings on Pump.fun reached $20 million in the last seven days.
Ripple Labs has applied for an Office of the Comptroller of the Currency (OCC) national trust bank charter for its "Ripple National Trust Bank," which would support digital-asset activities, including the issuance and custody of RLUSD. RLUSD, which is already live on XRPL and Ethereum, was integrated into Ripple Payments in April, and by mid-September, its outstanding supply was around $730 million. If granted, the federal charter would align RLUSD with new U.S. laws governing payment stablecoins, as defined by the GENIUS Act, and potentially increase RLUSD activity on XRPL.
The impact of the charter on XRP, Ripple's native cryptocurrency, depends on several factors. If Ripple secures a Federal Reserve master account, RLUSD reserves could be held directly at a Reserve Bank, and settlement could route through Fed services. This could increase the flow of market-making and AMM interactions where XRP often serves as a base inventory or a routing asset. However, if enterprise payment flows settle in RLUSD end-to-end, some volumes that previously relied on XRP as a bridge asset could track the dollar token instead. The charter could also make RLUSD more attractive to large banks and regulated venues in regions like the EU, Hong Kong, and the UK, which have specific regulations for stablecoins.
Ripple's application for the OCC charter indicates that the trust bank would be a wholly owned subsidiary with a dedicated governance layer, a structure that can facilitate compliance under the stablecoin law’s issuer definitions. This move, combined with Ripple's acquisition of Rail and a prime brokerage in Hidden Road, points to a bank-grade operating stack. If the charter is granted, it would formalize the line between a bank-issued dollar token used for settlement and a native asset used for liquidity, pathfinding, and network economics under a law that now defines stablecoin issuance at the federal level.
Solana (SOL) experienced a brief but significant intraday drop, falling 6.39% from a high of $247.92 to a low of $232.07. However, the cryptocurrency managed to recover somewhat, closing the day at around $236.18 and recouping approximately 26% of its losses. Despite the dip, Solana continues its gradual upward trend. Over the past month, SOL's price has risen from $192.63 to $236.18, marking a gain of about 22.6%. The 30-day high was $248.68 on September 14, and the low was $176.22 on August 19, with a maximum drawdown of roughly 12.4% within this period.
The crypto market, including altcoins, has become more reactive due to the Federal Reserve's upcoming rate decision and the anticipation of expected cuts. Traders are also closely watching scheduled token unlocks, which could potentially cause short-term supply shock events. These factors have led to outsized reactions to even small intraday price movements. Despite the recent dip, the path of least resistance for bulls remains intact as long as the $232 mark holds. If SOL manages to reclaim the $242-$248 range, the market could potentially target the recent 30-day peak. However, if selling resumes and the price falls below $232, the previous 30-day low near $176 could become the next reference point for larger corrective risk.
Bitcoin has seen a 7% increase since the start of September, demonstrating renewed vigor following weeks of inconsistent price action. However, the market is preparing for potential volatility in the coming days as focus shifts to the Federal Reserve meeting on Wednesday. The expectation is for a rate cut, but the extent of this cut is the primary factor influencing market sentiment.
If the Federal Reserve opts for a 25 basis point cut, it could be seen as a balanced and healthy shift that may bolster risk assets, including Bitcoin, without inciting fears of significant economic weakness. This move could potentially boost confidence in a smooth transition towards a more lenient monetary policy. Conversely, a 50 basis point cut could be interpreted as a sign of severe underlying economic instability, potentially triggering panic if investors believe the Federal Reserve is responding to worse-than-anticipated problems.
Top analyst Axel Adler has noted that Bitcoin is demonstrating resilience as it trades near the upper boundary of its channel, around $116,400, supported by a sustained bullish momentum score of 0.8. This score suggests that despite recent volatility, Bitcoin's structural strength remains intact. The market is heavily influenced by expectations of a rate cut, which has instilled confidence in risk assets. This setup's timing is crucial, with the Federal Reserve set to announce its interest rate decision on September 17, 2025, at 2:00 PM Eastern Time.
Interestingly, while Bitcoin has maintained its position at key resistance levels, altcoins have begun to display independent strength for the first time in several months. This divergence suggests a capital rotation is occurring, with investors diversifying beyond Bitcoin. As liquidity increases, this shift could signal the beginning of a new market phase, where both Bitcoin and altcoins drive momentum instead of Bitcoin alone.
Bitcoin is currently trading around $114,938, consolidating just below the $116,000 resistance zone. The chart shows a significant rebound from early September lows near $110,000, with Bitcoin steadily climbing back into its mid-range. The price is now trying to maintain gains above the 50-day moving average and is hovering around the 100-day and 200-day moving averages, which are converging and creating a dense resistance cluster. This setup reflects a tense balance between bulls and bears. Bulls have managed to protect $110,000 and push Bitcoin higher, signaling renewed strength. However, Bitcoin has repeatedly failed to establish momentum above $116,000, a level that must be decisively cleared to target the major resistance near $123,217.
The current sideways structure suggests a drift phase, with traders waiting for catalysts such as the upcoming Fed rate decision. A successful breakout above $116,000 could reignite momentum towards $120,000 and beyond. However, failure to hold above the 50-day SMA risks a retest of $112,000 or even $110,000 support. For now, Bitcoin remains range-bound, but pressure is building for a directional move.
The article from NewsBTC features a personal narrative from Godspower Owie, a crypto enthusiast and employee of Bitcoinnist and NewsBTC news outlets. Born and raised in Edo State, Nigeria, Godspower was introduced to the world of cryptocurrency three years ago by a friend who had made significant gains from his crypto investments. This sparked his interest in the field, leading him to pursue a career in the industry despite the inherent market volatility.
Godspower shares his journey in the crypto landscape, highlighting the importance of consistency, dedication, and a passion for growth. He acknowledges the ups and downs he has experienced in the market but remains committed to his goal of achieving excellence in the field. He also expresses his aspirations to become a leader in the industry, drawing inspiration from his supportive family and colleagues. Godspower's story underscores the personal commitment and resilience often required in the fast-paced and unpredictable world of cryptocurrency.
The Privacy and Scaling Explorations team of the Ethereum Foundation has rebranded itself as Privacy Stewards of Ethereum (PSE). This change reflects the team's commitment to making end-to-end privacy a fundamental feature of the Ethereum network. The PSE's new roadmap emphasizes that their role is not to create every solution, but to provide clarity, focus, and foster collaborations and outcomes across the ecosystem. In this way, they aim to ensure that privacy is treated as a primary feature at the application layer.
The PSE's ultimate goal is to make privacy on the Ethereum network standard, rather than an optional extra. This will be achieved through protections embedded across the entire stack, including protocol applications, wallets, and governance. Their roadmap is structured around three key tracks: private writes, private reads, and private proving. These will make private transactions, votes, and dApp interactions as easy and cost-effective as public ones, allow users to query balances, contracts, or data without revealing identity or intent, and enable fast, zero-knowledge proofs (ZKPs) for secure, portable, and verifiable data sharing. To achieve this, the PSE is prioritizing transfers with PlasmaFold and privacy wallets, new voting systems with Aragon, and confidential DeFi standards for institutions.
In parallel to these developments, Best Wallet has emerged as a strong partner. This non-custodial crypto wallet allows users to maintain full control of their assets on Ethereum and beyond, with robust safeguarding measures. Available on iOS and Google Play, the Best Wallet mobile app offers a highly secure way to manage crypto while on the go. It provides complete access to private keys and includes protections like 2FA, biometric, and local encryption. It also supports buying, selling, managing, and swapping over 1,000 assets across not just Ethereum but other major chains like BNB Chain and Polygon. It plans to support 60 networks in the future, broadening crypto opportunities for its users. The app also has its own launchpad, allowing users to access the best crypto presales and a swap engine that scans more than 330 DEXs and 30 bridges for the best possible rates. The app's native token, $BEST, facilitates all these features, with 25% of its total token supply set aside for product development.
Ripple, the blockchain payments firm, has donated $25 million of its RLUSD stablecoin on the XRP Ledger to two organizations, Accion Opportunity Fund and Hire Heroes USA. The funds were split between the two groups, both of which support small businesses and veterans. Accion Opportunity Fund offers capital and resources to small business entrepreneurs, while Hire Heroes USA provides career transition services for veterans.
Ripple's donation was made using its RLUSD stablecoin, which functions on the XRP Ledger network. The company believes this contribution showcases the real-world impact that stablecoins can have by equipping entrepreneurs and veterans with the necessary tools and capital for success. Ripple emphasized the importance of supporting small businesses and veterans, stating that their success is directly linked to the prosperity of communities.
Robinhood Markets, a leading American fintech company, has filed an initial registration statement with the SEC to launch Robinhood Ventures Fund I (RVI). This closed-end fund is aimed at investors who are seeking exposure to the private market. The fund will primarily invest in high-growth private companies across a range of industries. Once approved by the SEC, retail investors will be able to purchase RVI shares, thereby gaining indirect access to these firms. The move is part of Robinhood's strategy to bridge the gap between the declining number of public market listings and the growing number of private companies that are currently inaccessible to everyday investors.
The launch of RVI follows Robinhood's previous foray into the private market through the introduction of private tokenized stocks in the European Union. The company plans to list RVI shares on the NYSE, and they will be available for purchase through various brokerages, including Robinhood Financial LLC. Robinhood's CEO, Vlad Tenev, stated that the new venture aims to democratize investment in private companies, which has traditionally been an opportunity reserved for wealthy individuals and institutions.
MetaMask, a popular crypto wallet, has announced an exclusive partnership with Transak, a fiat-to-crypto gateway. The collaboration will enable MetaMask's over 100 million users to purchase mUSD, USDC, and USDT stablecoins directly within the app at near 1:1 rates. Transak will be the sole provider of fiat-to-stablecoin flows through MetaMask’s Deposit button, including support for MetaMask USD (mUSD), the wallet’s recently launched native stablecoin. The integration leverages Transak’s white-label APIs and named IBAN capabilities, providing a fully embedded onboarding experience.
The new integration aims to offer a seamless and safe crypto buying experience, akin to using a bank app. It will provide users with transparent 1:1 stablecoin purchases, a dedicated Deposit button supporting bank transfers and card payments, and named IBANs for each user to be launched later this year. The service is designed to reduce traditional onboarding costs, where users typically lose 2-5% of their funds to card fees, spreads, and hidden charges. According to Transak CEO Sami Start, the partnership aims to make crypto more usable for ordinary people by integrating the efficiency of stablecoins and smart contracts into familiar financial workflows.
