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Developers are getting ready to introduce a major security update on the XRP Ledger (XRPL) that could enhance investor protection. Known as XLS-86 Firewall, the amendment is designed to block scams and stop the loss of XRP tokens from wallets—a long-awaited safeguard for a community that has endured heavy losses in the past. 

How The New XRP Ledger Update Will Protect Investors

The XRP Ledger is preparing to roll out one of its most significant security-focused updates, known as the XLS-86 Firewall. Announced by a dUNL Validator identified as ‘Vet’ on X social media, the proposal aims to provide a safeguard against the increasing number of scams targeting XRP holders. At its core, the amendment is created to give investors greater control over how their transactions are executed, limiting the chances of bad actors draining their wallets.

The firewall will allow account owners to impose customized restrictions on outgoing transactions, including time-based limits and value-based thresholds. This means that even if an attacker manages to gain access to a private key, they cannot instantly withdraw funds from the account. Instead, these restrictions buy valuable time for the legitimate owner to react and secure their holdings. 

Another vital component of the amendment is the “whitelist” mechanism. With this feature, investors can authorize a list of trusted accounts that are exempt from firewall restrictions, ensuring that daily transactions are not disrupted. This design balances security with usability, giving users confidence that their systems are protected without adding unnecessary friction to daily workflows. 

Notably, activation of the firewall is left to the user’s discretion, allowing them to tailor security to their needs and risk tolerance. For retail investors and small enterprises, the upgrade offers a critical advantage by providing an extra layer of protection against scam attacks. 

Traditionally, multisignature protection has been touted as a robust security layer; however, it remains complicated for the average user to implement. By contrast, the upcoming XRPL firewall offers a more accessible solution that complements existing transaction flows. Its simplicity and promised defense against unauthorized transfers make it a potentially game-changing new security upgrade for XRP holders. 

Why XRPL Needed A Firewall Security Upgrade

The development of the XLS-86 Firewall did not arise independently but as a response to persistent and growing threats against the XRP community. Over the years, malicious actors have repeatedly exploited unsuspecting investors, employing tactics that range from phishing campaigns to impersonation scams. Just recently, the CTO of Ripple, David Schwartz, flagged a fake airdrop scheme that could have inflicted serious losses on unsuspecting investors had it gone unnoticed. 

Currently, the XRP Ledger does not provide any built-in safeguards to stop a compromised account from being drained instantly. However, with the development of the new firewall upgrade, XRP investors will be allowed to set protective rules that delay or restrict suspicious outgoing transfers, reducing the likelihood of catastrophic financial losses while still giving them full custody of their funds.

According to the latest reports, crypto-based prediction platform Polymarket is preparing for a new funding round that could see its valuation rise to $10 billion. This move to raise additional capital comes as the company prepares to relaunch in the United States.

On September 3, Polymarket CEO Shayne Coplan revealed on the social media platform X that the prediction site has received the green light from the Commodity Futures Trading Commission (CFTC) to launch in the United States.

Polymarket, which became increasingly popular during the 2024 US presidential election, has been subject to regulatory scrutiny for the majority of this year. However, this approval decision from the CFTC marks the conclusion of investigations into the prediction platform’s activities.

Prediction Platform To At Least Triple Its $1 Billion Valuation

According to a September 12 report by Business Insider, Polymarket is readying for another funding round that could triple its June valuation of $1 billion. Citing unnamed sources, the report stated that at least one investor has offered a term sheet to raise Polymarket’s valuation to as high as $10 billion. 

The crypto-based prediction marketplace reached “Unicorn” status and a $1 billion valuation in June after completing a $200 million funding round. Multiple reports revealed that the company’s last capital raise was led by Peter Thiel’s Founders Fund—famous for its early backing of startups like OpenAI, Paxos, and Palantir.

A separate report revealed that Polymarket has considered an offer that would see its company grow to as high as $9 billion. This report also claimed that the company’s major competitor, Kalshi, is closing in on a $5 billion valuation in a new funding round.

While activity on Polymarket seems to hover around $1 billion after a $2.5 billion peak in November 2024, there are high hopes for the prediction market site upon its return to the US. However, the company still faces some restrictions in other countries, including Singapore, France, Thailand, and so on.

Polymarket And Chainlink Build New Partnership

In a press release on Friday, Chainlink disclosed its partnership with Polymarket to integrate its oracle network into the prediction platform’s resolution process. The blockchain network claims that this collaboration will improve the accuracy and speed of Polymarket’s market resolutions.

Sergey Nazarov, Chainlink co-founder, said: 

Polymarket’s decision to integrate Chainlink’s proven oracle infrastructure is a pivotal milestone that greatly enhances how prediction markets are created and settled. When market outcomes are resolved by high-quality data and tamper-proof computation from oracle networks, prediction markets evolve into reliable, real-time signals the world can trust.

Chainlink joins Polymarket’s growing list of strategic partnerships, coming after the prediction platform’s collaboration with Elon Musk’s X to launch an integrated product that offers data-driven insights and recommendations to users.

The Attorney’s Office of the District of Massachusetts has announced the confiscation of nearly $600,000 in USDT from Iranian national Mohammad Abedini. Concurrently, US authorities are also seeking the civil forfeiture of the seized crypto assets.

Abedini Faces US Case Over Alleged Iran Drone Role

In a statement released by the US Department of Justice (DOJ) on Thursday, Abedini is named the founder and managing director of SDRA, an Iranian firm accused of supplying critical technology to the Islamic Revolutionary Guard Corps (IRGC). 

In particular, SDRA specializes in the production of navigation modules, including its flagship product, the Sepehr Navigation System, which has been widely integrated into the IRGC’s fleet of military drones, cruise missiles, and ballistic missiles.

According to prosecutors, Abedini’s company has worked closely with the IRGC Aerospace Force, which is regarded as a foreign terrorist organization (FTO), since at least 2014. Between 2021 and 2022, roughly 99% of SDRA’s sales of the Sepehr Navigation System, designed for one-way attack drones, were made directly to the IRGC Aerospace Force. 

In January 2024, forensic analysis of a drone strike that killed three US service members and injured more than 40 others at Tower 22, a military installation in northern Jordan, identified the vector as an Iranian-made Shahed UAV, equipped with the Sepehr Navigation System manufactured by SDRA. Abedini was arrested by Italian authorities in December 2024 and was charged in federal court in Boston for providing digital and material support to a foreign terrorist organization. However, the Iranian national was soon released by the Italian government and is now believed to be in Iran.

The DOJ Case For USDT Forfeiture

US authorities have also seized $584,741 USDT from an un-hosted wallet address believed to belong to Abedini. Presently, the United States Attorney’s Office for the District of Massachusetts has filed for a civil forfeiture action, which would allow the DOJ to take control of these crypto assets without needing to convict Abedini. US authorities have explained its rationale behind this case, stating:

US law authorizes the forfeiture of all assets of individuals or entities engaged in planning or perpetrating a federal crime of terrorism against the United States, citizens or residents of the United States, or their property and all assets, foreign or domestic, affording any person a source of influence over any such entity.

Interestingly, all claims by the DOJ in the civil forfeiture and also criminal complaints remain merely allegations, designating Abedini as an innocent man until proven otherwise.

The SEC has announced its decision to extend the review period for several crypto ETFs. This includes staking proposals for the Ethereum ETFs, as well as XRP and Dogecoin ETFs, with the commission pushing its decision to the final deadline for these funds. 

SEC Delays Decision On Ethereum, XRP, and Dogecoin ETFs

In an SEC release, the commission revealed that it is extending the review period for the proposed rule change to permit staking in BlackRock’s Ethereum ETF. The agency stated that it finds it appropriate to designate a longer period within which it will take action on the proposed rule change. That way, it has sufficient time to consider the proposal and the issues in it. 

With the extension, the SEC now has until the final deadline on October 30 to approve or disapprove the proposed rule change. The commission also made a similar decision on the proposed rule change to permit staking in Fidelity and Franklin Templeton’s Ethereum ETFs. The final deadline for the SEC to approve or disapprove the proposed rule changes for both funds is on November 13. 

There are also similar applications from other Ethereum ETF issuers, such as Grayscale and 21Shares, to permit staking for their respective funds. The final deadline for 21Shares and Grayscale’s proposed rule change is October 23 and 29, respectively. Based on this, there is the possibility that the SEC could approve staking for the ETH ETFs as early as October 23. This will be similar to how the commission approved all funds to launch at the same time last year.

Meanwhile, the SEC is expected to approve these funds, considering that it already clarified that staking activities aren’t securities. Staking for these funds will enable investors to earn yields while also gaining spot exposure to Ethereum. 

SEC Also Delays Decision On XRP And Dogecoin ETFs

The SEC has also delayed its decision on Franklin Templeton’s XRP ETF and Bitwise’s Dogecoin ETF. Similar to the Ethereum ETFs decision, the commission said that it needed more time to review the proposed rule change and the issues therein. It will now have until the final deadline on November 14 to approve or disapprove the proposed rule change to list and trade shares of this fund. 

It is worth noting that the SEC had already delayed the other XRP ETF applications to the final deadline. Grayscale, Bitwise, 21Shares, CoinShares, Canary Capital, WisdomTree, and Franklin Templeton have all filed for an XRP fund under the 33 Act. The first final deadline is Grayscale’s, which comes up on October 18. 

Meanwhile, the SEC delayed its decision on the proposed rule change for Bitwise’s Dogecoin ETF till the final deadline, which comes up on November 12. Grayscale has also filed for a DOGE ETF, with its final deadline coming up on October 18.

The US’s Strategic Bitcoin Reserve may be coming this year, says Galaxy head of firmwide research, Alex Thorn.

His statement comes in spite of the public sentiment and the fact that, while Trump signed the executive order establishing the Strategic Bitcoin Reserve in March, the administration didn’t confirm a formalized implementation plan yet.

Despite that, Thorn believes that the ‘market seems to be completely underpricing the likelihood of such an announcement’, alluding to the high probability that the Reserve may enter its implementation phase by the end of the year.

Not all agree, though. CoinRoute’s former chair, Dave Weisburger believes it’s more likely to happen in 2026 because ‘this administration is too smart to announce ANYTHING until AFTER they accumulate to their initial target.’

Whether it will happen or not, Thorn’s assessment comes just as Bitcoin pushed above $116K, which could set it up for a sustained rally into October. If that happens, Bitcoin’s Layer 2, Bitcoin Hyper ($HYPER), could see a massive investor surge.

Why Bitcoin is Becoming the Foundation of the Next Global Economy

Bitcoin is on track of becoming the foundation of the new global economy and it all begins in the US, with Trump’s Bitcoin Treasury on track to begin its implementation phase.

However, that’s not the main drive, but rather a consequence of the increased investor trust in Bitcoin as a valuable asset to use against the depreciating fiat.

It all comes from Bitcoin’s decentralized nature, which causes its value to depend on people’s trust in its performance.

This system lies at the heart of the growing institutional adoption, with names like Strategy building their entire brand around Bitcoin.

Strategy currently holds 638,460 $BTC valued at over $71B, making it one of the largest Bitcoin entities in the world. But it’s not the only one. According to Bitcoin Treasuries data, there are 325 entities holding over 3.71M $BTC, including governments like the US, Canada, and the UK.

Furthermore, adoption rates keep increasing at a global level, with APAC leading in the charts, followed by Latin America and Sub-Saharan Africa.

This paints Bitcoin as a foundational asset that could transform the modern global economy, especially as Bitcoin Hyper ($HYPER) brings a much-needed performance boost into the ecosystem.

Bitcoin Hyper ($HYPER) Enables Faster and Cheaper Bitcoin Transactions

Bitcoin Hyper ($HYPER) is the Layer 2 upgrade that promises to give us faster and cheaper Bitcoin transactions by eliminating Bitcoin’s most pressing problem: its capped performance.

The Bitcoin network is currently running at a maximum of 7 transactions per second (TPS), which is far below required industry standards. By comparison, Solana packs nearly 1,000 TPS with a 65,000 theoretical value, smoking Bitcoin in terms of performance.

Hyper aims to change that with the help of tools like the Canonical Bridge and the Solana Virtual Machine (SVM), the latter which enables the ultra-fast execution of smart contracts and DeFi apps.

The Canonical Bridge instead handles incoming transactions, confirming them nearly instantly with the Bitcoin Relay Program.

Once the transactions go through, the Bridge then mints the tokens into the Hyper layer, making them available to users almost immediately. Investors can then use the wrapped Bitcoin within the Hyper ecosystem or withdraw them to Bitcoin’s native layer whenever necessary.

Together with SVM, the Canonical Bridge turns the Hyper ecosystem into a fast-performing layer that promises to bring Bitcoin’s performance to Solana-grade numbers.

Once implemented correctly, Hyper would also make Bitcoin more feasible for institutional investors thanks to the near-instant finality, low network fees, and the elimination of the fee-based priority, which keeps Bitcoin lagging behind other networks.

The presale is now at over $15.5M, with $HYPER valued at $0.012905. We expect the token to make it big post-launch thanks to Hyper’s utility within Bitcoin’s ecosystem and the community hype behind it.

Our price prediction for $HYPER places the token at $0.32 by the end of the year. By 2030, we could have a $1.50 $HYPER for an ROI of 11,523% based on today’s price.

If you want to ride the Hyper train, read our guide on how to buy $HYPER and get your tokens on the official presale page.

Just remember that this isn’t investment advice. Do your own research (DYOR) and manage risks wisely.

Authored by Bogdan Patru, Bitcoinist – https://bitcoinist.com/us-strategic-bitcoin-reserve-comes-in-2025-bitcoin-hyper-gains

A coalition of leading associations in the finance, tech, and digital sectors has written a letter to the UK government, urging it to include Distributed Ledger Technology (DLT) as a core strand of the UK-US Tech Bridge.

The US-UK Tech Bridge is a bilateral agreement between the two nations to collaborate and share resources on emerging innovations, technology, and digital policy.

It has been specifically designed to foster innovation through joint research and development while aligning policy and standards to set common rules and approaches for areas such as data governance, AI safety, and cybersecurity.

With Trump set to visit the UK from September 17-19, this letter comes at a crucial time as Britain looks to assert its dominance in the digital finance sector.

Read on as we uncover what the letter proposes and highlight the best altcoins we think could benefit from growing government crypto adoption.

What Does the Letter Recommend?

The signatories believe that DLT is a major driving force for the development of next-generation infrastructure and financial services, facilitating cheaper and faster payments, improving capital flows, and driving efficiencies and productivity.

The letter highlights two key sectors of DLT that the UK government must pay close attention to: tokenization and stablecoins.

The coalition stresses that this is a once-in-a-generation opportunity to create the world’s first transatlantic framework for DLT, with both the US and UK being major global economies of strategic importance.

While the UK handles nearly 40% of global FX turnover, the US is home to the world’s largest capital pool and the epicenter of digital asset innovation.

Both nations can leverage each other’s regulatory weight, financial heritage, and legal excellence to shape the rules of the digital economy. And if they don’t, then they’ll probably have to watch the Middle East and Asia take the lead.

Amid growing competitive pressure, the letter recommends forming a joint sandbox with political backing to seize the opportunities of new technology and cement Britain’s role as the world’s leading hub for digital finance innovation.

As the world’s top financial powerhouses pivot toward digital assets such as tokenized securities and stablecoins, it’s inevitable that the next few decades of global finance will be dominated by cryptocurrencies and the broader digital finance ecosystem.

This is why forward-looking investors are actively identifying promising cryptocurrencies. If you want to make the most of this global shift, here are some of the top cryptos you should add to your portfolio right now.

1. Bitcoin Hyper ($HYPER) – Revolutionary Layer 2 Bitcoin Solution with Better Speed and Scalability

There’s no doubt that Bitcoin is the most popular cryptocurrency in the world, with a market cap of $2.31T. However, it still struggles with slow speeds and can only process 7 transactions per second since it handles them one by one.

Enter Bitcoin Hyper ($HYPER), the first-ever Layer 2 solution built on the Bitcoin blockchain.

$HYPER, with its Solana Virtual Machine (SVM) integration, enables parallel transaction processing, where multiple transactions can be processed simultaneously as long as they’re not related to each other.

This drastically increases throughput and speed while reducing transaction costs.

The SVM integration also allows developers to execute smart contracts and build dApps directly on the Bitcoin blockchain, opening the doors to Web3 and DeFi participation.

At the core of this utility is a non-custodial, decentralized canonical bridge that locks up your L1 Bitcoin tokens to mint an equivalent amount of L2-compatible Bitcoin.

These L2 tokens can be used across Web3, NFT platforms, lending, staking, and more. Once you’re done, the same bridge can be used to convert your L2 tokens back to traditional Bitcoin.

This utility-driven approach has made the $HYPER presale a huge success, raising $15.5M so far. Each token is currently priced at just $0.012905.

According to our $HYPER price prediction, the token could hit $0.32 in 2025, offering a massive 2,300% return from current levels.

If you’re wondering how to become part of this journey, here’s a step-by-step guide on how to buy $HYPER.

Visit Bitcoin Hyper’s official website to learn how it will crank up BTC’s real-world utility.

2. SUBBD Token ($SUBBD) – Crypto-Run Content Creation Platform Offering a Host of AI Tools

SUBBD Token ($SUBBD) powers a revolutionary content creation platform that aims to transform the $85B content creation industry.

Right now, creators have to give up as much as 70% of their revenue in platform fees. Plus, there’s always the lingering threat of arbitrary bans and account suspensions.

Enter SUBBD, which charges only a fraction of creator revenue as fees while also offering a host of AI tools.

For instance, it provides AI text generators, AI photo and video tools for striking visuals, and AI audio generators to help creators build engaging content without wasting time.

This allows creators to focus more on engaging with their audience and forming loyal fan bases through direct interaction.

Holding $SUBBD also comes with a range of benefits. You can use it to unlock exclusive content, request custom creations, and tip your favorite creators.

One of the standout features of SUBBD is its flat 20% staking return for the first year, giving you assured passive income.

What’s more, staking also unlocks added perks, such as exclusive behind-the-scenes content and creator livestreams.

The $SUBBD presale has already raised $1.13M. Each token is currently priced at $0.056425, and as per our $SUBBD price prediction, it could hit $0.301 by the end of 2025 – a 400% return in just a few months.

Here’s our detailed guide on how to buy $SUBBD before the next price increase.

Visit SUBBD Token’s official website to learn more about how it’s blending crypto, AI, and content.

3. MemeCore ($M) – A Participatory Project Rewarding Each Network Contribution

MemeCore ($M) is a Layer 1 ‘meme chain’ that aims to transform the best meme coins from hype-driven digital currencies into culturally relevant, utility-rich assets through governance, on-chain activity, and virality.

MemeCore rewards every form of participation – whether it’s trading, staking, creating, or validating on the blockchain – since it believes each contribution is critical to strengthening the network’s growth.

The project’s goal is to build a participatory economy where every action is measured, verified, and rewarded. This creates a value-generating ecosystem that’s sustainable in the long run.

$M has surged more than 250% since the start of September and around 37% in the last seven days.

It crossed the $1 landmark for the first time on September 4 and is now trading at around $2.37, with strong support at $1.80.

With a market cap of $2.46B, MemeCore is now among the top 50 cryptocurrencies in the world. As interest in $M continues to grow, the token could set fresh all-time highs in the coming weeks.

Quick recap: with the world’s leading finance institutions now viewing stablecoins and tokenized securities as the future of finance, the stage is set for low-cap, high-upside altcoins like Bitcoin Hyper ($HYPER), SUBBD Token ($SUBBD), and MemeCore ($M) to churn out potentially life-changing gains.

Disclaimer: Crypto investments are highly risky. This article is not financial advice, so kindly do your own research before investing.

Authored by Krishi Chowdhary, Bitcoinist — https://bitcoinist.com/best-altcoins-to-buy-as-uk-us-tech-bridge-eyes-digital-assets

Solana’s newfound momentum is great news for the broader crypto market, as it offers investors a strong alternative opportunity alongside the likes of Bitcoin and Ethereum.

But don’t mistake Solana for just a diversification play; it has, in fact, delivered far better returns over the last three years than both Bitcoin and Ethereum.

$SOL is up a whopping 21% in just the past seven days, currently trading at $242 and charging toward that much-awaited $300 mark.

The token has also overtaken BNB to become the fifth-largest cryptocurrency in the world by market cap.

And, of course, SOL’s groundbreaking potential hasn’t gone unnoticed by big-money players, who are now stacking the token at a record pace.

Read on as we unpack Solana’s latest whale buys, its 2025 price target, and how you can ride this wave by buying Snorter Token ($SNORT) – a Solana meme coin currently in presale.

Galaxy Digital Leads Solana Treasury Purchases

According to Lookonchain, Galaxy Digital has purchased a jaw-dropping 5M $SOL tokens (valued at $1.16B) in just the past three days.

Galaxy Digital CEO Mike Novogratz has even gone on record to say it’s the ‘season of Solana,’ referencing a recent $1.65B fundraise for Forward Industries, which aims to build the world’s largest Solana-based treasury strategy.

This fundraise is being led by Galaxy Digital, Jump Crypto, and Multicoin Capital, with the three firms collectively subscribing for more than $300M.

At the time of writing, Forward Industries has closed the private placement and is all set to begin accumulating Solana.

This pro-altcoin approach has been welcomed by shareholders, as the company’s stock jumped a massive 135% last week.

Even better, Novogratz reaffirmed what crypto loyalists have long argued – that Solana is tailor-made for financial markets thanks to its speed and high throughput.

Meanwhile, Upexi and BIT Mining are two more mainstream corporations making headlines for their Solana purchases.

Upexi recently disclosed holdings of over 2M $SOL, while BIT Mining bought an additional 17,221 $SOL, bringing its total to 44,000 $SOL.

So we’ve underscored how SOL could be the next mainstream crypto to absolutely go bonkers. In fact, top AI model Gemini has opined that Solana could reach $400 by the end of 2025.

Now comes the million-dollar question: how do you make the most of SOL’s explosive rally?

While conventional wisdom suggests you buy as much $SOL as possible, you’ll actually be better off picking a low-cap coin that could rise alongside Solana.

Enter Snorter Token ($SNORT).

It’s a new altcoin currently in presale, offering a super low entry price that, combined with its explode-worthy potential, makes it one of the best cryptos to buy now.

What Is Snorter Token?

Although $SNORT’s cute aardvark mascot might be enough to win over some investors, that’s really just scratching the surface of why this token deserves attention.

At the heart of this project is Snorter Bot, an upcoming Telegram-based trading bot built to snipe liquidity in newly listed meme coins.

This is crucial because it finally gives retail participants the ability to compete with institutional players who usually dominate with cutting-edge tools and algorithms.

That puts Snorter in a unique position to fuel the meme coin fire.

For context, the meme coin market cap has expanded by an eye-popping 120% in the past year – so just imagine the traction a token could gain if it turbocharges this space.

Snorter’s Highlights: Top-Tier Security & Usability

We wouldn’t recommend Snorter if it wasn’t one of the most secure trading bots available right now.

Snorter delivers a robust suite of security features, including protection against front-running, rug pulls, honeypots, and even sophisticated Maximal Extractable Value (MEV) attacks.

Better yet, despite its advanced capabilities, Snorter is extremely easy to use.

From placing buy/sell orders to managing your portfolio and even copying trades from seasoned experts, everything can be done with simple Telegram chat commands.

Make the Most of $SNORT By Buying Its Presale

Probably the biggest advantage Snorter Token offers is its low entry price. That’s because it’s currently in presale, meaning it hasn’t yet listed on exchanges.

Right now, you can buy $SNORT for just $0.1043 apiece. The project has already raised over $3.89M from early investors.

According to our $SNORT price prediction, the token could hit $0.94 by the end of this year alone – representing a massive 800% gain from current price levels.

Even better, buying $SNORT also unlocks an entirely new tier of exclusive benefits, including:

• No daily sniping limits
• Advanced analytics for better trading decisions
• Staking rewards, currently yielding 119%
• Reduced trading fees: just 0.85% vs. 1.5% charged to non-holders

Interested?

Visit Snorter Token’s official website to learn all about this new feature-rich Telegram trading bot.

Disclaimer: None of the above constitutes financial advice. Crypto is highly risky, so kindly do your own research before investing.

Authored by Krishi Chowdhary, Bitcoinist – https://bitcoinist.com/galaxy-solana-season-boost-why-snorter-token-could-ride-next

Bitcoin (BTC) treasury companies are facing a rather critical situation as their market premium over underlying BTC holdings erodes amid falling volatility and a sharp slowdown in new purchases. Notably, monthly BTC purchases by these companies have crashed by 97% since November 2024, reflecting a highly cautious market approach in recent months. However, recent data from CryptoQuant suggests the need for an immediate change in strategy.

Falling Bitcoin Volatility Threatens Bitcoin Treasuries Market Value

Generally, Bitcoin treasuries trade at a premium, meaning their market value exceeds the actual worth of the BTC they hold, as investors believe these companies can grow their holdings, monetize volatility, and act as a safe exposure to the premier cryptocurrency. Therefore, the market net asset value (mNAV), which compares these companies’ share price to the NAV of their Bitcoin holdings, is always greater than 1. However, CryptoQuant Head of Research, Julio Moreno, shares that annualized Bitcoin volatility has fallen to multi-year lows, removing a key driver of that premium as treasuries have fewer opportunities to capitalize on price swings and justify valuations above their underlying BTC holdings.

 

In analyzing market data for Strategy, the largest corporate BTC holder, it can be observed that certain spikes in volatility have produced periods when the mNAV surged above 2.0, most notably in early 2021 and again in mid-2024. During these windows, treasury companies were able to monetize volatility, raising equity or debt at a premium and deploying those proceeds into rapid BTC purchases.

Currently, however, volatility has compressed far below 0.4 log daily return annualized, reaching its lowest level since 2020. The flattening volatility curve has coincided with a steady decline in mNAV, which has slipped back toward 1.25. This narrowing premium suggests investors no longer see treasury companies as offering meaningful leverage over simply holding Bitcoin directly.

Related Reading: Tether Announces US Stablecoin Launch, Appoints Ex-Trump Advisor As CEO Weakening Demand Compounds Treasuries’ Problem

Without the “fuel” of price swings, Bitcoin treasury firms struggle to expand their holdings in ways that justify a premium valuation. While there were isolated bursts of buying in late 2024 and early 2025, overall activity remains muted. Correspondingly, Strategy’s mNAV has been trending downward since the turn of 2025, even as BTC itself has traded in a relatively elevated price range compared to recent years. The data suggests that when treasuries buy aggressively, investor enthusiasm pushes mNAV higher, reinforcing the cycle of premium issuance and BTC accumulation. Julio Moreno explains that for the mNAV premium to persist, a rebound in BTC volatility and renewed demand through large-scale purchases are immediately needed. Until then, treasury companies may find it increasingly difficult to justify valuations above their Bitcoin net asset value, forcing investors to consider a direct exposure to Bitcoin for returns rather than on corporate strategy. At press time, Bitcoin trades at $115,810, reflecting a 4.72% gain in the past week.

A new bill introduced on Tuesday would direct the US Treasury to study whether a Strategic Bitcoin Reserve (SBR) is technically and legally feasible, adding fresh momentum to a policy discussion that has picked up steam this year.

US President Donald Trump signed an executive order in March that set up a framework for a Strategic Bitcoin Reserve and a US Digital Asset Stockpile, but a detailed plan has yet to be released.

According to Alex Thorn, head of firmwide research at Galaxy Digital, there is a high likelihood the US will formally announce an SBR by the end of this year — a view that some market participants say is too optimistic.

i still think there’s a strong chance the U.S. government will announce this year that it has formed the strategic bitcoin reserve (SBR) and is formally holding BTC as a strategic asset

market seems to be completely underpricing the likelihood of such an announcement

— Alex Thorn (@intangiblecoins) September 11, 2025

Reports Have Disclosed Progress On Multiple Fronts

Based on reports, the administration’s crypto liaison confirmed interest remains in moving forward, even if the topic received only a brief mention in a recent policy paper.

yes, i mean the U.S. government announcing, not bessent’s offhand comment on tv

that comment gave us hints of where they think the size of the reserve stands but is not a formal announcement of the SBR https://t.co/ADxguLJ8vH

— Alex Thorn (@intangiblecoins) September 11, 2025

On Aug. 6, Bitcoin Indonesia said it had met with officials to talk about how a state-level strategy could boost the economy. And on Wednesday, Kyrgyzstan advanced a bill aimed at creating a country-level crypto reserve — a signal that other governments are not standing still.

Skeptics Say The Timeline Could Slip To 2026

Samson Mow, founder of Jan3, has urged faster action, warning in June that delays risk letting other nations secure large Bitcoin holdings first.

Dave Weisburger, former chairman of CoinRoutes, said that it is more likely any formal US holding will take place in 2026.

He argued that an administration wanting to build a position would probably avoid public disclosure until an initial accumulation target is reached.

Markets May Be Underpricing The Odds

Thorn wrote on X that the market appears to be underpricing the chance of a US announcement. That matters because a clear signal from the government that it holds Bitcoin as a strategic asset could change demand dynamics sharply.

Some traders would see such a move as a bullish shock; others would worry about new rules, taxes, or custody frameworks that could follow.

The secrecy around any acquisition plan also complicates market reads: if accumulation is underway but hidden, prices could react strongly when the government goes public.

Global Moves Add Pressure On US Decision Makers

Beyond timing and market effects, the story has a geopolitical edge. Countries in Central and Southeast Asia are actively discussing national crypto reserves, and officials in Jakarta have shown interest in using Bitcoin-related strategy as an economic tool.

That international activity increases the political stakes for Washington. For now, the picture is mixed: executive orders and bills point to progress, while public comments from officials and analysts show real disagreement over when — or if — the US will formalize holdings.

At the time of writing, Bitcoin was trading at $$116,058, up 0.9% and 4.8% in the daily and weekly frames.

Featured image from Meta, chart from TradingView

On-chain data shows the 7-day average Bitcoin Hashrate has shot up to a new all-time high (ATH) despite network Difficulty being at a record level.

Bitcoin Mining Hashrate Has Seen A Sharp Increase Recently

The “Hashrate” refers to a Bitcoin indicator that keeps track of the total amount of computing power that the miners as a whole have connected to the BTC blockchain. The metric is useful for gauging the sentiment among these chain validators.

When the value of the Hashrate goes up, it means new miners are joining the network and/or old ones are expanding their farms. Such a trend implies BTC mining is looking profitable to this cohort.

On the other hand, the indicator witnessing a decline suggests some of the miners have decided to pull out of the chain, potentially because they are no longer able to pay off electricity bills.

Now, here is a chart from Blockchain.com that shows how the 7-day average Bitcoin Hashrate has changed over the past year:

As displayed in the above graph, the 7-day average Bitcoin Hashrate has seen a sharp surge recently and has set a new all-time high (ATH) of around 1.03 zettahashes per second (ZH/s). This increase in the metric has come as the price of the cryptocurrency has made some recovery.

Miners depend on the asset’s price for their revenue, so bullish price action allows them to expand. Though, while price conditions may have been favorable in the past week, another factor hasn’t been. Namely, the Difficulty.

The Difficulty is a feature built into the Bitcoin blockchain that controls how hard the miners would find their task of BTC mining on the network right now. This metric’s value automatically changes about every two weeks based on network conditions.

More specifically, the Difficulty adjusts according to whether the miners have been slower or faster than the network target rate of 10 minutes per block. The chain ups the metric if miners are going through the average block in less than 10 minutes, while it lowers it if the validators aren’t able to keep pace.

Prior to the latest adjustment, Bitcoin miners were aggressively expanding their Hashrate, becoming significantly faster than the network wants them to be. The chain responded with a notable Difficulty increase that took the metric to a new record of 136.04 terahashes, as data from CoinWarz shows.

Difficulty increases can squeeze the revenue of the most vulnerable miners, so Hashrate often dips following them. And indeed, the same occurred after the latest adjustment as well, but the drop was temporary.

Thus, it would appear that the spike in Difficulty hasn’t been able to scare away the Bitcoin miners this time.

BTC Price

At the time of writing, Bitcoin is floating around $116,400, up almost 5% in the last seven days.

Solana (SOL) has solidified its position among the world’s largest cryptocurrencies, surpassing Binance Coin (BNB) to secure the fifth spot by market capitalization.

As of September 12, 2025, SOL trades at $ 237.90, giving it a market capitalization of $126.4 billion. The rally marks a 6.8% gain in the past 24 hours and over 15% weekly growth, driven by surging institutional interest and strong on-chain activity.

Analysts stress three key catalysts behind Solana’s momentum: Nasdaq’s approval of a Solana-focused listing, growing speculation over spot ETFs, and continuous network upgrades that strengthen its position as Ethereum’s closest competitor.

Galaxy Digital’s $536M Solana Bet

A major driver of the rally was Galaxy Digital’s reported purchase of 2.31 million SOL tokens worth nearly $536 million within 24 hours. Blockchain data confirms transfers from Binance, Coinbase, and Bybit to Galaxy-controlled wallets, fueling speculation that the firm is aggressively backing Solana’s growth.

This move follows Galaxy’s leadership in a $1.65 billion private placement for Forward Industries (NASDAQ: FORD), which is transitioning into a Solana-focused digital asset treasury. Forward’s stock soared 135% in five days, proving investor excitement.

Galaxy CEO Mike Novogratz declared the start of a “Solana Season,” citing regulatory progress, ETF optimism, and Solana’s unmatched scalability as reasons for the aggressive accumulation.

ETF Hopes and Network Growth Accelerate Adoption

ETF speculation continues to boost Solana’s appeal. Reports suggest a 90% chance of a Solana ETF approval by late 2025, with applications from VanEck and Fidelity already in review. With staking yields around 7%, analysts believe Solana is well-positioned to attract yield-focused ETF structures.

Meanwhile, Solana’s network fundamentals remain robust. August data shows 58 million monthly active users and $15.3 billion in total value locked (TVL), fueled by activity across DeFi, NFTs, and memecoins.

Recent upgrades, including the Alpenglow upgrade and the upcoming Firedancer client, promise greater scalability and reduced congestion.

With institutional capital flooding in, ETF approvals on the horizon, and technical upgrades boosting performance, Solana’s momentum shows no signs of slowing. Analysts now eye potential price targets between $300 and $400 in the coming months if bullish conditions persist.

Cover image from ChatGPT, SOLUSD

St. Cloud Financial Credit Union (SCFCU), кредитный союз из штата Миннесота с активами более $400 млн, объявил о планах запуска собственного стейблкоина под названием Cloud Dollar (CLDUSD).

In a significant move to bolster its position in the cryptocurrency landscape, Hong Kong is set to implement new regulations aimed at enhancing the adoption and usage of digital assets among banks. 

This initiative comes in the wake of a renewed wave of pro-crypto policies spearheaded by the United States, which aspires to establish itself as the world’s crypto capital. Recognizing the need to stay competitive, Hong Kong’s regulatory framework seems to be evolving to stay at the forefront of this race.

New Crypto Asset Classification Module For Banks 

The Hong Kong Monetary Authority (HKMA) recently issued a draft document for public consultation, introducing a new module titled CRP-1, or “Crypto Asset Classification,” as part of its “Banking Regulatory Policy Manual.” 

This draft is designed to clarify the regulatory guidelines related to bank capital requirements in line with the Basel Committee on Banking Supervision’s standards, with full implementation anticipated by early 2026. 

The HKMA aims to provide a structured approach to regulating crypto assets, particularly focusing on those linked to unlicensed blockchain technologies, commonly referred to as public chains.

Faith, a partner at King & Wood Law Firm and a lecturer at the University of Hong Kong’s School of Law, shared insights in an exclusive interview with Caixin. 

She highlighted that the draft regulatory guidance will allow for lower capital requirements for banks dealing with crypto assets, provided that issuers can demonstrate effective risk management measures.

The draft document also emphasizes the classification procedures that align with global financial standards, ensuring that Hong Kong’s banking sector adheres to international norms. 

By addressing digital assets launched on public blockchains, the proposals suggest that these cryptocurrencies could benefit from reduced capital requirements, thereby incentivizing banks to engage more actively with digital assets.

A New Era In Digital Asset Legislation

Hong Kong’s stance on digital asset legislation further distinguishes it from mainland China, which has taken a more cautious approach. 

Earlier this year, the region introduced stablecoin regulations, enforcing a licensing regime for stablecoin issuers that requires compliance with strict asset management and client asset segregation protocols. 

This regulatory framework is designed to promote financial stability and encourage innovation in the digital asset sector, building on the progress made in the United States with the passage and signing of the GENIUS Act by President Donald Trump.

Chengyi Ong, head of Asia-Pacific policy at Chainalysis, emphasized the importance of stablecoins in the broader crypto ecosystem. She noted that stablecoins not only provide stability but also facilitate traditional financial processes, such as cross-border payments and settlements, which are often mired in inefficiency. 

Featured image from DALL-E, chart from TradingView.com 

Speaking during an episode of CNBC’s Squawk Box yesterday, Mike Novogratz, CEO of asset management firm Galaxy Digital, said that Bitcoin (BTC) is currently in a consolidation phase as treasury firms are steadily warming up to the idea of adding altcoins to their balance sheets.

Novogratz Suggests Altcoin Stealing Light From Bitcoin

Bitcoin is currently trading about 7.4% below its all-time high (ATH) of $124,128, recorded on August 14. While the cryptocurrency has surged 5,2% over the past two weeks, its price action remains range-bound, indicating that it could be in a consolidation phase.

In a recent TV appearance, Novogratz stated that Bitcoin has been trading sideways for the past month, as treasury companies have focused on accumulating major altcoins lately. However, Novogratz added that BTC may see another upswing toward the end of the year. He said:

Bitcoin’s at a consolidation right now. Partly because you’re seeing a lot of these treasury companies in other coins take their shot.

Indeed, several companies have added altcoins, such as Ethereum, to their balance sheets this year. BitMine Immersion Technologies has emerged as a clear leader, holding more than 2.1 million ETH on its balance sheet, worth almost $9 billion.

Several other companies have joined in. For instance, Ethereum treasury firm ETHZilla recently disclosed that it holds more than 100,000 ETH. Similarly, Nasdaq-listed SharpLink increased its total ETH holdings to over 800,000.

What’s Causing The Pivot To Altcoins?

Multiple reasons could be held responsible for companies choosing ETH over BTC to gain exposure to digital assets. For instance, ETH offers far more use-cases compared to Bitcoin, such as facilitating stablecoin transactions, powering decentralized finance (DeFi), and non-fungible tokens (NFTs).

Recently, Jan van Eck, the CEO of asset management firm VanEck dubbed ETH the “Wall Street token” due to its immense use-cases. He added that Ethereum holds a competitive advantage over its competitors.

Similarly, Jack Ma-linked Yunfeng Financial invested $44 million in ETH. Another firm, the Ether Machine raised $654 million worth of ETH in private financing earlier this month, indicating the rapidly growing trend of ETH-based treasury firms.

Besides ETH, other altcoins like Solana (SOL) are also gaining traction. Earlier this week, design and manufacturing firm Forward Industries stated that it had raised $1.65 billion in cash and stablecoins to launch a SOL-focused treasury strategy.

While altcoins enjoy the limelight, it would be prudent to keep monitoring BTC’s trajectory. A breakout from the current consolidation phase will likely lead to a capital rotation from altcoins to BTC. At press time, BTC trades at $115,050, up 0.4% in the past 24 hours.

Основатели американской криптобиржи Gemini Кэмерон и Тайлер Уинклвоссы (Cameron, Tyler Winklevoss) предположили, что курс первой криптовалюты может легко вырасти в десять раз.

A co-founder of THORChain had roughly $1.35 million taken from a forgotten MetaMask wallet after attackers used a hacked Telegram account and a fake Zoom meeting to gain access to his stored keys, according to reports. The theft was first flagged on-chain and later confirmed by multiple news outlets and investigators.

THORChain: Multi-Stage Scam

Based on reports, the scheme began when an associate’s Telegram was compromised and a malicious meeting link was circulated. The target joined what appeared to be a legitimate video call, but the feed was fake.

Attackers then exploited access to the victim’s iCloud Keychain and browser profile to extract private keys tied to an old wallet, which was drained of about $1.35 million in crypto.

$1.35M was stolen from a Thorchain cofounder. Yet another reminder: if your keys are stored in a software wallet, you’re only one malicious code execution away from losing everything.

In this case, the victim didn’t even sign a malicious transaction, the malware simply stole the… pic.twitter.com/nLS4nWNFyt

— Charles Guillemet (@P3b7_) September 12, 2025

Investigators And On-Chain Sleuths Chime In

Blockchain investigators quickly traced movements and posted findings on social platforms, with some early on-chain sleuths estimating the visible value at roughly $1.2 million before later reports put the total near $1.35 million.

Analysts flagged links to North Korea–connected actors based on patterns and prior behavior, though attribution in such cases can be complex and takes time to confirm.

#PeckShieldAlert A @thorchain user’s personal wallet was exploited, resulting in a loss of ~$1.2M pic.twitter.com/R385BRHoHu

— PeckShieldAlert (@PeckShieldAlert) September 12, 2025

Security Community Issues Warning

Leaders in the crypto security scene warned the industry to treat remote meeting links and sudden file requests with deep caution.

A senior wallet developer highlighted that storing private keys in software that syncs to cloud services makes a user vulnerable if those cloud accounts are accessed by malware or other exploits. That warning was echoed across developer and security feeds after the theft was disclosed.

THORSwap Offers Bounty To Recover Funds

Reports have disclosed that a related project put up a reward to help recover the stolen funds, and community members began tracking transactions to identify where the assets moved.

Public appeals and bounties have become a common community response when large sums are siphoned off and on-chain tracing points to identifiable wallets.

Wider Pattern Of Deepfake And Zoom Scams

This incident is part of a growing string of attacks that use fake video calls and impersonation to trick targets into running malicious code or revealing credentials.

Major cases elsewhere have cost victims millions, including an earlier story in which deepfakes and fake calls led to a multi-million loss at a corporate level.

Security researchers say criminals are now combining social engineering with AI tools to make scams more convincing.

Featured image from IT Security Guru, chart from TradingView

CleanCore Solutions has crossed a significant milestone in its aggressive Dogecoin accumulation plan, revealing it now holds over 500 million DOGE in its treasury. This is contrary to the institutional investments in traditional cryptos like Ethereum and Bitcoin, which have earned massive returns over the past few months.

The initiative, managed by House of Doge and backed by the Dogecoin Foundation, ranks CleanCore as one of the largest corporate holders of the memecoin.

CleanCore Long-term Dogecoin Strategy

The company is targeting 1 billion DOGE within 30 days, with Chief Investment Officer Marco Margiotta describing the move as a “disciplined accumulation strategy.”

He emphasized CleanCore’s vision of establishing Dogecoin as a reserve asset while promoting its role in payments, tokenization, staking-like products, and global remittances.

Long-term, the firm aims to control 5% of Dogecoin’s circulating supply, a goal that would solidify its status in the digital asset treasury landscape. Custody is handled through Bitstamp in partnership with Robinhood, ensuring compliance and security.

Adding further credibility, Elon Musk’s lawyer Alex Spiro recently joined as board chairman, reportedly helping align CleanCore’s treasury strategy with the Dogecoin Foundation’s broader objectives.

DOGE Price Surges on Treasury Buys and ETF Optimism

The announcement comes as Dogecoin’s market performance strengthens. Over the past week, DOGE has surged 22%, with a 3.6% gain in the last 24 hours alone.

This bullish momentum has been fueled not only by CleanCore’s treasury expansion but also by excitement surrounding the proposed REX-Osprey DOJE ETF, the first U.S.-regulated Dogecoin exchange-traded fund.

Breaking above the $0.25 resistance level, Dogecoin now looks set to test the $0.288 zone, with strong liquidity reducing the chance of sharp corrections. Analysts see treasury adoption and institutional financial products as key steps toward turning DOGE from a speculative token into a mainstream asset.

Corporate Competition Heats Up in DOGE Accumulation

CleanCore is not the only firm betting on Dogecoin’s long-term potential. Rival BitOrigin recently disclosed a 40.5 million DOGE purchase as part of its $500 million treasury plan, signaling growing corporate interest in the meme-inspired cryptos.

The Dogecoin Foundation’s efforts, particularly through House of Doge, aim to push the coin beyond its meme status by expanding its utility in payments, tokenization, and real-world applications. With CleanCore halfway to its billion-DOGE target, the competition to secure treasury dominance is intensifying.

For now, CleanCore’s bold strategy places it at the forefront of memecoin adoption, challenging not only Ethereum’s dominance in corporate strategies but also reshaping the way companies view digital assets as reserve holdings.

Cover image from ChatGPT, DOGEUSD chart from Tradingview

Bitcoin is navigating a volatile phase where bulls are struggling to drive the price higher, yet bears have also failed to push BTC below the $110,000 mark. This tight range signals a standoff, but beneath the surface, the market appears to be shifting into a new phase. For the first time in months, Ethereum and several altcoins are showing relative strength against Bitcoin, raising questions about capital rotation and changing market dynamics.

Fresh data from CryptoQuant sheds light on the divergence between short-term traders and larger conviction-driven buyers. According to their report, addresses holding between 100 and 1,000 BTC—often referred to as “sharks”—have added a staggering 65,000 BTC in just seven days. This aggressive accumulation has lifted their total holdings to a record 3.65 million BTC.

What makes this development notable is that it has occurred even as spot prices hovered near $112,000. While retail-driven volatility has kept price action choppy, structural demand from larger buyers remains strong.

The disconnect suggests that long-term players are preparing for the next leg of the cycle, absorbing supply while short-term traders hesitate. In this environment, Bitcoin’s resilience above $110K underscores its strength despite ongoing market turbulence.

Bitcoin Onchain Data Points To Supply Squeeze

According to a report from XWIN Finance shared by CryptoQuant, two core onchain datasets confirm that Bitcoin’s current market behavior is driven by deep structural demand rather than short-term speculation. These indicators—Long-Term Holder (LTH) Net Position Change and Exchange Netflow—highlight a steady absorption of supply, setting the stage for potential upward pressure on price.

The LTH Net Position Change, which tracks 30-day balance shifts among experienced holders, has turned strongly positive. These green spikes suggest that long-term players are actively accumulating Bitcoin rather than distributing it. Historically, such accumulation phases often precede major bull runs, as coins move into “strong hands” less likely to sell during short-term volatility. This transition of supply into longer-term storage reduces available liquidity, tightening conditions for future rallies.

Exchange Netflow data provides another layer of evidence. Net outflows—BTC being withdrawn from exchanges—have dominated in recent weeks. This indicates that investors prefer cold storage over keeping assets liquid for immediate trading. Combined with LTH absorption, this confirms that recent shark buying is not speculative churn but actual supply removal from circulation.

The alignment of shark accumulation, LTH buying, and sustained exchange outflows builds the conditions for a potential supply squeeze. While short-term corrections remain possible if leverage in derivatives overheats, the structural picture favors higher prices as soon as demand accelerates. Beneath the current volatility, the groundwork for Bitcoin’s next major leg higher appears to be quietly forming.

Price Analysis: Quiet Consolidation

Bitcoin is trading at $115,019 after a steady recovery from early September lows near $110,000. The daily chart shows BTC building momentum as it pushes into a key resistance zone. The 50-day SMA at $114,562 has been reclaimed, and the 100-day SMA at $112,323 is now acting as solid support, reinforcing the bullish setup. The 200-day SMA at $102,202 continues to anchor the long-term trend, confirming that Bitcoin remains structurally healthy despite recent volatility.

The next challenge lies at $116,000–$118,000, a resistance area that has capped rallies in recent weeks. A successful breakout and close above this zone could clear the path toward the major barrier at $123,217, which remains the cycle’s key level to watch.

On the downside, immediate support is established near $114,000, followed by stronger backing around $112,000. As long as BTC holds these levels, buyers are likely to maintain control. A breakdown below $112,000, however, could shift momentum back in favor of sellers and potentially bring $110,000 back into focus.

Featured image from Dall-E, chart from TradingView

The US government is preparing to bring sweeping anti-money laundering powers from the PATRIOT Act into the crypto sector, in a move that could reshape the boundaries of privacy, compliance, and innovation. According to reporting by The Rage, the Treasury Department is seeking to apply Section 311 of the USA PATRIOT Act—often described as one of the most far-reaching financial surveillance tools—to cryptocurrency activities such as mixers, DeFi protocols, and certain wallet services.

At the center of the initiative is the Financial Crimes Enforcement Network (FinCEN), which is drafting a rule that would formally classify crypto mixing services as a “primary money laundering concern.” Such a designation would give the US Treasury the authority to effectively cut off these services from the US financial system by prohibiting banks, exchanges, and payment processors from transacting with them.

US Revives War On Crypto Privacy

The Rage report notes that this new rule is expected to mirror and expand on the 2022 “mixer rule” FinCEN floated after the sanctioning of Tornado Cash, but with much broader implications. In practice, Section 311 powers allow Treasury to not only blacklist specific entities, but also to ban entire categories of transactions deemed high risk. As the report states: “FinCEN’s proposal would extend the extraordinary powers of the PATRIOT Act into digital assets, placing mixers, DeFi protocols, and even wallet providers squarely in the government’s crosshairs.”

Francis Pouliot, the founder and CEO of Bull Bitcoin, commented via X: “US BUREAUCRATS ATTACK ON BITCOIN USERS PRIVACY. […] The Orwellian scenario may not come to pass entirely, but it’s a signal: if we let them, they will establish that any use of Bitcoin except tracked custodial wallets is ‘suspicious’”.

Lawmakers are also aligning with the Treasury’s push. A group in the House has reintroduced the “Special Measures to Combat Money Laundering Act,” a bill designed to codify Treasury’s use of Section 311 in the context of cryptocurrencies. By placing statutory weight behind this approach, Congress could significantly expand the executive branch’s latitude to act against privacy-focused crypto tools without requiring case-by-case legislative approval.

The implications extend beyond mixers. Observers warn that if Treasury asserts that certain smart contracts or decentralized protocols facilitate illicit finance, those platforms could be designated under Section 311. This would force US intermediaries to block interactions with them, effectively walling them off from the regulated economy.

One policy expert quoted in the report cautioned: “This is not just about Tornado Cash. Once these powers are formally extended, any DeFi protocol that Treasury views as a conduit for money laundering could be placed on the list. That changes the risk calculus for the entire sector.”

Industry reaction is expected to be fierce. Crypto advocates argue that the indiscriminate use of Section 311 would trample due process and innovation by treating open-source code as criminal infrastructure. Civil liberties groups have already challenged the Treasury’s prior actions against mixers, warning that blanket bans erode the constitutional rights of developers and users alike. Exchanges and custodians could face heightened regulatory risk and costs as they adapt to an expanded surveillance perimeter.

The move comes as the US intensifies its focus on financial flows linked to sanctioned entities, cybercriminals, and foreign adversaries. Treasury has repeatedly cited the use of crypto mixing services by North Korean hacking groups, Russian darknet markets, and ransomware operators. Officials argue that without new powers, law enforcement will struggle to prevent digital assets from undermining the integrity of the global financial system.

Whether the proposed rule survives legal and political challenges remains uncertain. The Tornado Cash sanctions are still the subject of ongoing litigation, and expanding PATRIOT Act measures into the decentralized ecosystem is expected to spark fresh constitutional battles. Still, the trajectory is clear: Washington is signaling that the era of light-touch oversight over crypto privacy tools is ending.

As the report concludes: “The PATRIOT Act has long been the government’s nuclear option in financial surveillance. By turning it toward crypto, the Treasury is making clear that no corner of the digital asset industry is beyond its reach.”

At press time, the total crypto market cap stood at $3.95 trillion.

Many public companies are now turning to a Bitcoin strategy, with many of them undergoing treasury changes. Notably, public companies holding Bitcoin on their balance sheets have seen their aggregate holdings surge past $113 billion in early September. 

This balance shows not only strong institutional conviction in Bitcoin as a reserve asset but also the adoption of crypto‐treasury models among public companies, and here are the major stakeholders.

Major Stakeholders Of Bitcoin Treasury

Data shows that the total value of Bitcoin held by publicly traded companies in their treasury is now well over the $100 billion mark. The value of the total holdings, which is subject to the intensely volatile nature of Bitcoin’s price, is now fluctuating between $111.24 billion and $113 billion, according to data from BiTBO. 

The center of this adoption is full of companies and founders that have made Bitcoin a cornerstone of their treasury strategy. At the top of the list is Strategy, which is holding hundreds of thousands of BTC and is often seen as the pioneer of corporate Bitcoin accumulation. According to data from BiTBO, Strategy is holding 638,460 BTC, which is worth about $73.63 billion. This translates to 64.27% of the BTC held by public companies and 3.04% of the total 21 million BTC created.

Following close behind are mining companies and firms explicitly structured around Bitcoin accumulation. MARA Holdings (Marathon Digital), for example, is the second-largest public company holding Bitcoin, with 52,477 BTC worth $6.05 billion in its coffers. Other names include XXI (Twenty-One Capital) with 37,229 BTC, Bullish with 24,340 BTC, and Riot Platforms with 19,309 BTC.

Interestingly, some non-mining or non-traditional companies have also carved out a strong strategy of Bitcoin treasury. For instance, MetaPlanet, which is currently holding 20,136 BTC, recently announced that it had expanded its shares offering from 180 million shares to 385 million shares in order to raise $1.4 billion in capital for its Bitcoin acquisition strategy. 

Other companies like GameStop and EV manufacturer Tesla also have thousands of Bitcoins in their treasury reserves.

What’s Motivating The Bitcoin Accumulation?

There are many intersecting motivations behind these large Bitcoin treasury holdings. First, many leaders of these companies view Bitcoin as an inflation hedge, as it is commonly referred to as digital gold.

Second, there is the trend of shareholder appeal. For instance, MetaPlanet noted that its most recent upsizing was due to strong demand from investors. Companies that announce Bitcoin accumulation often witness stock price increases. According to a report from Animoca Brands, the stock price of corporate treasury companies increases by an average of 150% within 24 hours of announcing crypto adoption strategies. 

Aside from publicly traded companies, institutional demand for Bitcoin through Spot Bitcoin ETFs is also growing at a strong pace. Spot Bitcoin ETFs in the US continue to attract inflows, with the latest numbers from SoSoValue showing $552.78 million entering these ETFs on September 11. 

At the time of writing, Bitcoin is trading at $115,220, up by 0.9% in the past 24 hours.