Native Markets Wins Hyperliquid Stablecoin USDH Token Name Last Sunday, following a community vote, Native Markets, one of the teams that submitted a proposal for the issuance and governance of the Hyperliquid USD stablecoin (USDH), officially announced that it has successfully claimed the USDH token symbol. Native Markets founder Max Fiege announced on the X platform that the project will launch its first Hyperliquid Improvement Proposal (HIP) for USDH in the coming days, along with the issuance of an ERC-20 token on the Ethereum network. He also outlined the next steps: "We will first launch a testing phase, initially with a limited user base of mints and redemptions of up to $800 USD per transaction. We will then open the USDH/USDC spot order book and support unlimited mints and redemptions." Monero Under Attack Again, 18 Blocks Reorganized According to @OrangeFren, Monero has been attacked again. Yesterday, XMR underwent an 18-block reorganization. When accepting XMR payments, be sure to wait for more than the usual 10 confirmations. SlowMist Yuxian stated that if no one in the Monero community takes block reorganizations seriously, the network will be under a long-term threat of "Damocles," and even if the hash rate does not exceed 51%, the risk of double spends may still exist.
Market
As of press time, according to CoinGecko data:
BTC price is $115,332, up or down -0.5% in the past 24 hours;
ETH price is $4,605.48, up or down -1.2% in the past 24 hours;
BNB price is $926.53, up or down -0.7% in the past 24 hours;
-0.6%;
DOGE price is 0.2784 US dollars, with a 24-hour increase or decrease of -3.7%;
XRP price is 3.03 US dollars, with a 24-hour increase or decrease of -2.9%;
TRX price is 0.3484 US dollars, with a 24-hour increase or decrease of -0.4%;
The price of WLFI is $0.2082, with a 24-hour fluctuation of -3.9%. The IRS has expanded its cryptocurrency surveillance, shifting from targeted investigations to near-real-time blockchain tracking. Since 2017, the U.S. Internal Revenue Service (IRS) has continued to expand its cryptocurrency surveillance, shifting from targeted investigations to near-real-time blockchain tracking. According to tax attorney David Klasing, the IRS obtained user data from multiple exchanges, including Coinbase and Kraken, through "John Doe summonses." In 2021, the IRS seized cryptocurrencies worth $3.5 billion, accounting for 93% of the total assets seized that year. A 2024 report by the Treasury Department's Tax Administration (TIGTA) revealed that 75% of cryptocurrency users identified through exchange data were potentially engaging in tax non-compliance. The IRS initiated 216 audits in 2023 and sent nearly 15,000 "soft letters" to users. The new 1099-DA reporting system will be implemented in 2025, requiring the reporting of disposition gains and adding basic information filings starting in 2026. Privacy advocates lost their Supreme Court case in July challenging the legality of the IRS's subpoena for Coinbase data. While the Trump administration removed reporting rules for DeFi brokers, centralized exchanges remain subject to comprehensive reporting obligations. A BJP spokesperson proposed a stablecoin pegged 1:1 to the rupee. Bitinning founder Kashif Raza posted on the X platform that a BJP spokesperson had proposed a stablecoin pegged 1:1 to the rupee. Pakistan Invites Global Cryptocurrency Companies to Apply for Operating Licenses Pakistan recently invited leading exchanges and virtual asset service providers (VASPs) to apply for operating licenses under a new federal regulatory framework. Tether's "Hedge and Expand" US Strategy Puts Circle on the Defense Amid Market Volatility Circle has long positioned USDC as a compliant alternative to USDT. Tether's launch of USAT directly challenges the market position of USDC, which has close ties to Coinbase, a top US cryptocurrency exchange. Dan Dolev, senior analyst at Mizuho Securities, believes the launch of USAT is a headwind for Circle. He stated, "This proves that USDC is more commoditized than initially thought. This is precisely why we remain cautious about Circle." Previously, Mizuho analysts had suggested that Circle's USDC growth might be slower than expected. Prior to the launch of USAT, Bernstein analysts held the opposite view, believing that Circle would continue to grow regardless of any competition. Circle has yet to comment. Yala: Protocol Suffered Attack, but Issue Identified, User Assets Safe Yala stated on the X platform that its protocol recently suffered an attack that briefly impacted the YU peg. However, SlowMist and its security partners quickly identified the issue and have begun implementing improvements to enhance system performance. All user assets are safe, and the company will continue to work to enhance stability and make the protocol more robust, with updates coming soon.
▌Data: Software client Knots has just occupied 25% of Bitcoin nodes
According to Bitcoin.com News, software client Knots has just occupied 25% of Bitcoin nodes.
▌Hong Kong-listed company Sunshine Oil Sands and BitCruiser Incorporated cooperate to develop Bitcoin mine
According to an announcement from the Hong Kong Stock Exchange, Sunshine Oil Sands announced a partnership with BitCruiser Incorporated to jointly establish a large-scale Bitcoin mine in Canada. The latter will be responsible for investing in Bitcoin mining equipment and the construction and operation of the mine. ETHZilla, the Ethereum treasury company, announced on the X platform that it currently holds 102,240 ETH, of which approximately $100 million has been used for ETH re-staking in partnerships with ether.fi. The company will also continue to repurchase shares using its existing $80 million. ETHZilla added that it has the right to repurchase shares for up to $250 million. A newly created wallet withdrew 10,000 ETH from OKX. According to Onchain Lens monitoring, a newly created wallet withdrew 10,001 ETH from OKX within three hours last night, valued at $46,400,000. Michael Saylor has released Bitcoin Tracker information again. Michael Saylor has released Bitcoin Tracker information again on the X platform. Based on previous experience, Strategy firms typically disclose Bitcoin holdings data the day after he releases Bitcoin Tracker information. Yi Lihua: The best investment method for ordinary people is secondary trend investing. Yi Lihua, founder of Liquid Capital (formerly LD Capital), stated in a post that the best investment method for ordinary people is secondary trend investing. He reviewed his investments in over 200 projects in the primary market and, with the exception of periods in 2017 and 2020, found that their performance was significantly inferior to that of BTC and ETH. Of 10 projects, five returned zero, three broke even, and only two made a profit. Achieving an overall return exceeding bank deposit rates is already a significant feat, requiring significant effort and reputational risk. He explained that this is similar to the traditional investment industry, where ultimately only a very small number of investors like Warren Buffett and Duan Yongping are able to achieve long-term excess returns and scale management. Despite institutional adoption and historic gains, the ETH/BTC ratio remains below 0.05. According to Cointelegraph, the ETH/BTC ratio compares the prices of ETH and BTC; a higher ratio indicates ETH's strength relative to BTC, while a lower ratio indicates ETH's weakness. The Ethereum-Bitcoin (ETH/BTC) ratio measures the performance of Ethereum's price relative to Bitcoin's. Despite the beginning of institutional adoption of Ethereum, according to Coingecko data, the ETH/BTC ratio has been below 0.05 since July 2024. The ratio peaked in June 2017 at an all-time high of 0.14. The current ratio is 0.039, down from 0.04 in August.
▌Yi Lihua: The law of cyclical rise in the cryptocurrency circle has begun, and the high-quality altcoin season will definitely explode
Yi Lihua, founder of Liquid Capital (formerly LD Capital), said in a post, "I have said before that the law of cyclical rise has begun. After ETH led the rise, mainstream coins such as SOL and BNB began to rise. In the end, there will definitely be a high-quality altcoin season. In the last bull market, there were many billion-dollar projects. This time is the same or even crazier. I hope that entrepreneurs with vision and innovation will work hard to seize this opportunity and live up to the new era of financial blockchain for 6 billion people."
▌Bitcoin treasury company Empery Digital has executed a $14.5 million stock repurchase plan
According to Bitcoin Treasuries’ post on the X platform, Nasdaq-listed Empery Galaxy Digital has executed a $14.5 million share repurchase plan, repurchasing approximately 2 million shares at a price below its net asset value. The latest data shows that Empery Digital currently holds 4,081.39 bitcoins, with a total purchase price of approximately $480 million and an average purchase price of $117,517 per bitcoin. Data: Galaxy Digital received over 1.2 million SOL in less than 24 hours. According to Cointelegraph, Galaxy Digital received over 1.2 million SOL in less than 24 hours. According to Lookonchain, the Yala hacker minted 120 million YU on the Polygon network. They subsequently sold 7.71 million YU on Ethereum and Solana via a cross-chain transaction for 7.7 million USDC. Currently, the hacker still holds 22.29 million YU on Solana and Ethereum, with an additional 90 million YU remaining on Polygon, which has not yet been cross-chained. The hacker has converted 7.7 million USDC into 1,501 ETH and transferred it to multiple wallets. According to DefiLlama data, the total market capitalization of stablecoins rose 1.14% over the past week, currently at $289.23 billion. USDT's total market capitalization increased 1.01% to $170.535 billion, representing a 58.96% market share. Tether issued an additional 1 billion USDT on the Ethereum network. According to OnchainLens, Tether issued an additional 1 billion USDT on the Ethereum network yesterday.
Important Economic Developments
▌Economist: US Tariff Policy Will Continue to Impact US Economic Growth
In an interview with Germany's Handelsblatt on the 13th, Morgan Stanley Chief Economist Seth Carpenter stated that US economic growth is significantly slowing, with US tariffs being a key factor. The consequences of this policy will continue to be felt in the coming months. Carpenter believes that the US economy is currently facing sustained low growth and expects weak growth in the fourth quarter of this year and the first quarter of next year. In 2026, the US economy may only grow by around 1.25%, significantly lower than the 2.8% expected in 2024. He also noted that the US labor market is currently performing significantly weaker than it did a few months ago. New data shows that job creation between March 2024 and March 2025 was only half of what was initially expected. Furthermore, US industrial production is showing signs of weakness.
▌Trump again urges US appeals court to approve dismissal of Federal Reserve Governor Cook
On September 14th, local time, US President Trump made a final request to the US Court of Appeals, requesting permission to fire Federal Reserve Governor Cook on the grounds that she was suspected of mortgage fraud. Trump hopes to complete this move before the Federal Reserve's interest rate decision next week, and once again emphasized that Cook has not yet made a strong rebuttal to the relevant allegations.
▌Trump: The Federal Reserve Chairman is incompetent and is hurting the housing market
US President Trump: The Federal Reserve Chairman is incompetent and is hurting the housing market. (As for the candidate for Federal Reserve Chairman) I have three very optimistic candidates.
▌The probability of the Federal Reserve cutting interest rates by 25 basis points this week is 96.4%
According to CME's "Federal Reserve Watch": The probability of the Federal Reserve cutting interest rates by 25 basis points this week is 96.4%, and the probability of cutting interest rates by 50 basis points is 3.6%. The probability of the Federal Reserve cutting interest rates by 25 basis points in October is 16.0%, the probability of cutting interest rates by 50 basis points is 81.0%, and the probability of cutting interest rates by 75 basis points is 3.0%.
Golden Encyclopedia
▌Is SUI the future of decentralized networks? Sui was launched in May 2023 by Mysten Labs, founded by former Meta engineers who worked on Facebook's Diem project (formerly Libra). Sui aims to provide a decentralized solution capable of processing large volumes of transactions with minimal latency. One of Sui's standout features is its parallel transaction processing. While other networks like Solana and Avalanche use similar technology, Sui stands out by reducing the complexity of coordination between validators. This streamlined approach makes the network more efficient and scalable, maintaining high throughput even under heavy traffic without the bottlenecks that typically plague other blockchains. As part of this, Sui introduces an object-centric model. This not only allows for more granular transaction processing; it also allows digital assets to evolve and change over time, rather than remaining static. This makes the platform well-suited for applications involving non-fungible tokens (NFTs), GamingFi, and decentralized finance (DeFi), where assets frequently require updates or modifications. In contrast, blockchains like Solana and Avalanche are optimized for speed but lack this flexibility when handling dynamic data. From DeFi to gaming and supply chain management, Sui's architecture enables fast and efficient transactions, making it an attractive platform for developers looking to build on cutting-edge blockchains.
Anais
Weatherly
Alex