Coinbase Launches New Stock Index Futures Following SEC and CFTC Statements

Headline

▌The U.S. SEC and the U.S. CFTC issued a joint statement that exchanges registered in the U.S. are not prohibited from providing trading of certain spot cryptocurrencies

Staff from the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) issued a joint statement, clarifying that exchanges registered with the SEC and CFTC are not prohibited from providing trading of certain spot crypto asset products. SEC Chairman Paul Atkins said: "Market participants should have the freedom to choose where to trade spot crypto assets." CFTC Acting Chair Caroline Pham said: "Under the previous administration, our agencies sent mixed signals on regulatory and compliance issues in digital asset markets, but the message was clear: innovation is not welcome. That chapter is closed." This move marks an important step in the two agencies' "Project Crypto" and "Crypto Sprint" initiatives, which aim to coordinate regulation while expanding choice and flexibility in trading venues for US market participants. Coinbase to Launch "Tech Giant + Crypto ETF" Stock Index Futures Crypto exchange Coinbase announced that it will launch a stock index futures product called "Mag7 + Crypto Equity Index Futures" on September 22. The index adopts a balanced allocation, encompassing seven major tech stocks: Apple, Microsoft, Alphabet, Amazon, Nvidia, Meta, and Tesla, as well as Coinbase itself, the BlackRock Spot Bitcoin ETF, and the Spot Ethereum ETF, with each component accounting for 10%. This move marks the first time Coinbase has launched an index futures product beyond a single asset on a US derivatives platform, aiming to attract more investors and explore new growth areas amid declining spot trading volume and revenue.

Market

As of press time, according to Coingecko data:

BTC price is $111,133, up or down 24 hours by 2.1%;

ETH price is $4,318.50, up or down 24 hours by 0.4%;

BNB price is $851.55, up or down 24 hours by 0.7%;

+4.0%

▌Trump: Will Appeal Global Tariff Case Ruling to the Supreme Court

US President Trump said that if he loses the global tariff case in the Supreme Court, it will cause "a shock perhaps unprecedented." He said that if he wins the tariff case, the stock market will "shoot straight up into the sky."

Blockchain Applications

▌Kraken and Backed Partner to List xStocks on Ethereum

Kraken and Swiss firm Backed announced the launch of their tokenized stock product, xStocks, on the Ethereum mainnet. Users can deposit and withdraw xStocks on the Ethereum chain using ERC-20 tokens and enable interoperability with DeFi protocols. xStocks has previously been listed on Solana, BNB Chain, and TRON, with cumulative trading volume reaching $3.5 billion. Strategy Increases STRC's Annual Dividend Yield from 9.0% to 10.0% Michael Saylor announced on Platform X that Strategy has increased the annual dividend yield on its floating-rate Series A Perpetual Preferred Stock, STRC, from 9.0% to 10.0%. SlowMist Yu Xian: Suspected Venus Investor Victimized Phishing Attack, Not Venus Hacked SlowMist founder Yu Xian announced a suspected phishing attack on the Venus platform, resulting in losses exceeding $27 million. This likely stems from a phishing attack on a specific high-profile investor, not Venus itself. Specific details are still being finalized. Digital Currency Group (DCG) Considers $500 Million Hong Kong IPO Digital Currency Group (DCG) is considering an initial public offering (IPO) in Hong Kong, targeting approximately $500 million. Sources revealed that DCG's IPO is expected to take place soon, but the exact date has not yet been determined. The Ethereum Foundation will sell 10,000 ETH to support R&D and other efforts. The Ethereum Foundation announced in a statement that over several weeks this month, it will convert 10,000 ETH through a centralized exchange to support R&D, grants, and donations. These conversions will be made in multiple small orders, rather than in a single, large transaction. Coinbase Executive: The Middle East may be implicitly increasing its Bitcoin holdings, and actual holdings may far exceed publicly disclosed levels. Eric Peters, Chief Investment Officer of Coinbase Asset Management, stated that Middle Eastern countries' actual Bitcoin holdings may far exceed publicly disclosed levels. Some countries are incorporating crypto assets into their reserves alongside commodities such as gold, potentially promoting a "new monetary standard." He stated that large funds are currently reluctant to buy in the $100,000-$120,000 range, and will even remain on the sidelines if the price falls below $85,000. However, this means that they may enter the market in a concentrated manner in the future when prices are higher, the narrative is stronger, and the infrastructure is more complete. Peters also pointed out that the United States is already exploring the establishment of a "strategic digital asset reserve" (including tokens such as Bitcoin), and this, combined with adoption in the Middle East, will serve as a catalyst for attracting large institutions to enter the market. Strategy (MSTR.O) acquired 4,048 BTC for approximately $449.3 million between August 26 and September 1, at a price of approximately $110,981 per Bitcoin, and has achieved a 25.7% BTC return so far in 2025. As of September 1, 2025, Strategy held 636,505 BTC, acquired for approximately $46.95 billion at a price of approximately $73,765 per Bitcoin. Propanc Biopharma (NASDAQ: PPCB), a publicly listed company, announced plans to acquire $100 million worth of Ethereum today (September 2nd). Propanc Biopharma (NASDAQ: PPCB), a biopharmaceutical company, announced plans to acquire $100 million worth of Ethereum over the next 12 months. The company stated that this move will enhance its multi-faceted corporate strategy, including cryptocurrency investment, drug development, and asset acquisitions. Yunfeng Financial purchased 10,000 ETH on the open market for a total investment of $44 million. Yunfeng Financial announced that its board of directors has approved the purchase of ETH on the open market as a reserve asset. As of the date of this announcement, the group has purchased a total of 10,000 ETH on the open market, with a total investment cost (including fees and expenses) of $44 million. The purchase was funded from the Group's internal cash reserves, and the purchased ETH is reported as an investment asset in the Group's financial statements. SharpLink increased its holdings by 39,008 ETH, bringing its total holdings to 837,230 ETH. SharpLink increased its holdings by 39,008 ETH at an average price of approximately $4,531, bringing its total holdings to 837,230 ETH, valued at approximately $3.6 billion. As of the week ending August 31, 2025, SharpLink raised $46.6 million through its ATM financing facility and pledged this additional ETH. ETHZilla Plans to Deploy $100 Million in ETH to EtherFi for Re-staking ETHZilla Corporation (Nasdaq: ETHZ), a Nasdaq-listed company, today announced plans to deploy approximately $100 million in Ethereum (ETH) to the liquidity re-staking protocol EtherFi to increase its treasury yield. The company currently holds 102,246 ETH, with a total value of approximately $456 million, at an average purchase price of $3,948.72. BitMine: Holds 1.87 Million ETH, with $8.98 Billion in Cryptocurrency and Cash BitMine announced that its cryptocurrency and cash holdings reached $8.98 billion. As of August 31, the company's cryptocurrency holdings included 1,866,974 ETH at an average price of $4,458, 192 BTC, and $635 million in unencumbered cash. Ether Machine Raises $654 Million Worth of Ethereum in Private Funding According to Reuters, Ether Machine has raised $654 million worth of Ethereum in a private funding round as the cryptocurrency company expands its financial strategy in preparation for a Nasdaq listing later this year. The company said that an investment of 150,000 ETH by long-time Ethereum supporter Jeffrey Berns will be deposited into its wallet later this week. Jeffrey Berns will also join the company's board of directors. CEA Industries Inc. (NASDAQ: BNC) announced the purchase of an additional 38,888 BNB (approximately $33 million USD), bringing its total holdings to 388,888 BNB (approximately $330 million USD), further solidifying its position as the world's largest corporate holder of BNB. The company has publicly stated its plan to hold 1% of the total BNB supply by the end of 2025. Hash Global receives strategic support from YZi Labs to establish the first compliant BNB income fund. Hash Global has received strategic support from YZi Labs to establish the first compliant BNB income fund, with the goal of reaching $100 million in assets under management by the end of the year and $3 billion within three years, with all assets held in BNB. The fund provides custody, liquidity, and research-driven returns, aiming to connect traditional institutions and high-net-worth individuals with the fastest-growing blockchain ecosystem. Cleancore Solutions, a New York Stock Exchange-listed company, announced it has entered into a securities purchase agreement to raise $175 million through a private placement of shares in a private equity offering (PIPE) to support its DOGE treasury strategy. The transaction is reportedly comprised of over 80 institutional and cryptocurrency-native investors, including MOZAYYX, GSR, FalconX, Borderless, Mythos, and Serrur & Co. LLC. The offering is expected to close on or about September 4, 2025, subject to customary closing conditions, including but not limited to approval by the New York Stock Exchange.

▌California Governor Gavin Newsom may launch a meme token to challenge Trump

According to CoinDesk, California Governor Gavin Newsom announced that he will issue a meme coin to challenge Trump's token.

Important Economic Dynamics

▌U.S. Treasury Secretary to begin a series of interviews with Federal Reserve Chairman candidates on Friday

According to the Wall Street Journal, citing people familiar with the matter, U.S. Treasury Secretary Benson plans to conduct a series of intensive interviews with Federal Reserve Chairman candidates starting Friday. Sources said the interview process will continue into next week, and Benson will communicate with the candidates in person or via video conference. According to Bessant and his advisors, a total of 11 candidates have been shortlisted, including Federal Reserve Governors Waller and Bowman, National Economic Council Director Hassett, and former Federal Reserve Governor Warsh. After the interviews, Bessant will submit a final list of recommended candidates to Trump. Bessant previously stated that he would begin the search for a successor to the Federal Reserve Chair shortly after Labor Day. Trump: We need a very strong interest rate cut. Trump: Reports about my health are fake news. President Trump: I was very active over the weekend. Reports about my health are fake news. Ray Dalio: International investors have begun shifting from U.S. Treasuries to gold. Bridgewater Associates founder Ray Dalio stated: International investors have begun shifting from U.S. Treasuries to gold. Years of massive deficits and unsustainable debt growth have pushed the U.S. economy to the brink of a debt crisis. Wealth disparity, value disparity, and a breakdown in trust are driving the U.S. to implement "more extreme" policies. The probability of a September Fed rate cut is 90.5%. According to CME's "Fed Watch," the probability of the Fed keeping interest rates unchanged in September is 9.5%, and the probability of a 25 basis point rate cut is 90.5%. The probability of the Fed keeping interest rates unchanged in October is 4.3%, the probability of a cumulative 25 basis point rate cut is 46.3%, and the probability of a cumulative 50 basis point rate cut is 49.3%. What is a rug pull in cryptocurrency? How can you identify one? A "rug pull" occurs when a team or developer withdraws support for a project, leaving investors with worthless tokens. Crypto scams are common in decentralized finance (DeFi), where there are no regulations governing project operations. An individual or a group of developers creates excitement around a crypto project to attract traders. As excitement builds, many invest by purchasing tokens or minting non-fungible tokens (NFTs). Then, the developers suddenly sell off their holdings and disappear, leaving investors stunned and empty-handed. The project's abrupt demise causes its token price to plummet, and investors lose most of their money. However, understanding what constitutes a "rug pull" in blockchain can help you identify red flags early on. If you know the signs of a cryptocurrency "rug scam," you can identify potential scams before it's too late. From examining the project team to analyzing token economics and community engagement, here are the key steps to spot red flags and make informed investment decisions: 1. Unknown or unconfirmed developers; 2. Lack of liquidity lockup; 3. Sell order restrictions; 4. Limited number of token holders and wild price fluctuations; 5. Suspiciously high returns; 6. No external audits. Imagine a crowded market with vendors selling a variety of goods. A "rug scam" is like an impressive stall that attracts buyers with the promise of valuable items. The vendor takes advance reservations for these items at inflated prices. Just as the market is bustling, the vendor suddenly disappears, leaving behind an empty stall and worthless reservation receipts. In the context of cryptocurrency, vendors can commit this type of fraud in a variety of ways. One method involves fraudulent developers introducing hidden vulnerabilities in smart contracts to control native tokens or steal cryptocurrency from investors. Secondly, developers can use a technique called dumping. Third, scammers may implement a "blanket" operation by limiting sell orders.