Crypto Market Rises for Four Days
According to Darkex data, cooling US PPI and regulatory announcements by SEC Chairman Atkins boosted market confidence. BTC crossed $114,000, up 2.62%, and ETH crossed $4,400, up 2.50%. The L2 sector rose 6.64%; Linea (LINEA) was notable with a 392.6% increase.
US Department of Labor Launches BLS Review
The US Department of Labor’s Office of Inspector General (OIG) has launched a review of the Bureau of Statistics’ (BLS) data collection and reporting processes. The review follows reductions in CPI and PPI data collection methods and significant revisions to recent employment reports. The review covers challenges and possible improvement strategies in critical areas such as collecting inflation data, reporting employment data and managing revisions.
US PPI Cools, Bond Demand Strong
US August PPI came in at 2.6% yoy, below expectations (expected 3.3%). Core PPI came in at 2.8% yoy. These weak data strengthened expectations for a rate cut. Treasury’s $39 billion 10Y bond auction was in high demand; stop-out yield was realized at 4.033%, the lowest level since September 2023.
Cook and Miran Developments in Fed Governance
Judge Jia Cobb temporarily blocked the removal of Lisa Cook, allowing her to remain on the Fed Board and vote at the meeting. Meanwhile, the Senate Banking Committee approved Miran’s nomination. The full Senate vote is expected just before the Fed’s September 16-17 meeting.
Trump’s Trade and Sanctions Calls
Trump asked the EU to impose 50-100% tariffs on China and India as part of Russia sanctions. The EU has said it will not use tariffs, but will instead sanction companies that help Russia. At the same time, Mexico is planning a 50% tax on cars imported from China.
SEC Lengthens Regulatory Processes
The SEC extended the review of Nasdaq’s Ethereum staking proposal until October 30. In addition, the final decision date for Franklin’s XRP ETF application was postponed to November 14. In both cases, regulatory processes seem to be moving slowly.
Optimism for Crypto Market Structure Bill in the Senate
12 Democratic senators announced a new regulatory framework for crypto markets. This step raises the prospect of bipartisan cooperation with Republicans. The goals include clarifying token jurisdictions, increasing platform oversight and combating illegal financial activities. The possibility of the law becoming law before Christmas is on the agenda.
China Inflation Weak, US-China Contacts Intensify
In China, August CPI came in at -0.4% yoy, while core CPI rose to 0.9%. PPI remained at -2.9% yoy. This picture indicates that deflationary pressures persist. On the diplomatic front, high-level talks between China and the US increased. Wang Yi and US Secretary of State Rubio held a meeting, and the defence ministers held a video call for the first time. The possibility of a Biden-Xi meeting at the APEC Summit stands out.
SharpLink Transfers $379 Million to Galaxy Digital
According to Ember data, Sharp Link Gaming received $379 million in stablecoins within 45 minutes and transferred the amount to Galaxy Digital’s OTC wallet. The company is expected to continue its ETH purchases through Galaxy. This transaction brought Sharp Link’s ETH purchases, which it did not disclose last week, back into the spotlight.
Hong Kong Monetary Authority Updates Crypto Capital Rules
According to Caixin, the Hong Kong Monetary Authority published the draft titled “CRP-1 Classification of Crypto Assets” on September 8. Scheduled to take effect in early 2026, the regulation aims to reduce capital requirements to facilitate banks’ access to compliant digital assets such as stablecoins.
Sharps Technology × Pudgy Penguins: Solana Focused Partnership
Sharps Technology has formed a strategic partnership with Pudgy Penguins, according to PR Newswire. This collaboration aims to increase the visibility and connectivity of the Solana digital asset library. Sharps have acquired more than 2 million SOLs (valued at over $400 million) with PIPE funding.
171.6 Million Token Transfer from PENGU Team
According to Ember data, the Pengu team transferred approximately 171.6 million PENGU (≈$6M) from the distribution address to Binance and Bybit. A total of 2.6 billion PENGU (≈$72.86M) has been sent to CEXs since July 12th.
According to Bloomberg, Gemini Space Station will allocate 30% of its IPO shares to individual investors via Robinhood, Moomoo and Webull. The first month lock condition will be applied. The IPO price range was raised to $24-26. In addition, Nasdaq made a $50M private placement investment.
Hyperliquid Spot-Staking ETF Plan from VanEck
According to Blockworks, VanEck plans to apply for a Hyperliquid spot-collateralized ETF in the US and issue related products in Europe. Part of the product’s profits could be used for HYPE token buybacks. Regulatory approval is pending.
First Stablecoin from a Credit Union in the US: Cloud Dollar (CLDUSD)
Minnesota-based St. Cloud Financial Credit Union (SCFCU) will be the first time a stablecoin will be issued by a credit union in the US, according to CoinDesk. CLDUSD will be issued on the Metal Blockchain and integrated with the banking infrastructure. The launch is planned for the last quarter of 2025.
Avalanche Foundation Aims to Build $1 Billion Reserve Company
According to the Financial Times, the Avalanche Foundation is looking to raise a total of ≈$1B in the US through two separate companies. The first is $500M led by Hivemind Capital and the other is $500M through Dragonfly Capital’s SPAC structure. Buy AVAX at a discount with funds.
New Wallet Withdraws 7,766 ETH
According to Onchain Lens data, a newly created address has attracted 7,766 ETH (≈$34.02M) from OKX. The wallet’s total holdings now stand at 15,543 ETH (≈$68.41M). Such transfers may be linked to institutional buying or OTC transactions.
Bitmine Increases ETH Reserve to 2,126,018
Onchain Lens reported that Bitmine received 46,255 ETH (≈$201M) from Bitgo. This brings the company’s total assets to 2,126,018 ETH (≈$9.24B). This purchase reinforces Bitmine’s reserve size in the markets.
Coinbase Fixes Transfer Problem
Coinbase announced that it has resolved a temporary issue that prevented users from transferring crypto. Fund security was not affected and services have returned to normal. The platform continues to monitor its operations.
Joseph Lubin Holding LINEA Will Bring Additional Rewards
Ethereum co-founder Joseph Lubin announced that LINEA token holders will benefit from additional token rewards in the future. These rewards will come from ConsenSys and collaboration protocols. The amount and duration of token holdings will affect the size of the rewards.
Alibaba Cloud Founder: Artificial Intelligence in the Age of Open Source
Wang Jian noted at the Inclusion Bund Conference that competition in AI has evolved from “open sources to open sources”. Opening up model weights and data has become more strategic than just code openness.
Chainlink Founder: Using Blockchain in Elections
Sergey Nazarov announced that they are working with US agencies on oracle solutions to improve election integrity. Initiatives to deploy Oracle networks at the state level continue.
Big “Slashing” Event in Ethereum
On the Ethereum network, 39 validators connected to the SSV Network were penalized due to infrastructure issues of third-party staking providers. This was recorded as one of the largest slashing events since the proof-of-stake transition.
$757 Million Daily Net Inflows in Bitcoin Spot ETFs
According to SoSoValue, on September 10, inflows were recorded for the third day in a row. FBTC saw inflows of +$299M, IBIT +$211M. Total NAV increased to $147.83B (6.53% of BTC market cap).
Net Inflows of $172 Million in Ethereum Spot ETFs
On the same day, ETH spot ETFs received a total inflow of $172M. ETHA stood out with +$74.5M and FETH with +49.5M. Total NAV was $27.73B (5.31% of ETH market capitalization).
