10 September 2026 | 00:40 Bitcoin trades near $78,500, below its 50-week SMA at $79,600 and May resistance near $82,800. Spot participation will determine whether the recovery can clear both barriers.
Key Takeaways The 50-week SMA sits near $79,600. $82,000-$82,800 forms the main breakout zone. RSI shows stronger relative momentum than May. Futures volume is roughly 15 times spot. ETF flows turned negative on September 8. Bitcoin faces two separate weekly barriers The first obstacle on the Bitstamp BTC/USD weekly chart is the falling 50-week simple moving average near $79,600. Bitcoin was approximately $1,100 below that level when the chart was captured, putting the average about 1.4% above the market price.
A weekly close above the average would return Bitcoin above an important long-term trend measure. It would not complete the larger breakout because the resistance that stopped the May recovery remains higher.
That second barrier extends from approximately $82,000 to $82,800 and includes the May high near $82,790. A move through the 50-week SMA would therefore improve the chart, but Bitcoin would still need to overcome the previous high before the recovery could enter a stronger phase.
RSI shows stronger momentum than in May Weekly RSI is in the upper 50s, compared with roughly 50-52 during the May resistance test. Bitcoin is approaching the same broad price area with a higher momentum reading than it had during the earlier recovery.
The comparison is not a textbook bullish divergence. Conventional bullish divergence normally requires price to form a lower low as RSI produces a higher low. Bitcoin is instead returning toward an earlier resistance area with stronger relative momentum.
RSI also remains below 70, though that does not provide a separate buy signal or guarantee additional upside. Its value here comes from comparing the strength of the two approaches to resistance.
The current weekly candle had more than four days remaining when the chart was captured. Both price and RSI could change before the close, so the unfinished readings should not be treated as confirmation.
RSI also cannot show whether the recovery is being driven by direct Bitcoin purchases or leveraged contracts. That distinction requires a closer look at spot and derivatives activity.
Futures activity still dwarfs spot volume CoinGlass showed approximately $61.6 billion in 24-hour Bitcoin futures volume, compared with about $4 billion in spot volume. Futures turnover was therefore around 15.4 times larger than reported spot activity at that reading.
The difference shows that derivatives account for most of the measured trading turnover. It does not reveal whether those traders are positioned for higher or lower prices because every futures transaction has both a buyer and a seller.
Bitcoin open interest stood near $53.2 billion. That figure represents outstanding derivatives exposure, but it does not establish whether leverage has recently increased without a comparison over time.
Taken together, the figures show that Bitcoin’s recovery is unfolding in a market dominated by derivatives turnover, with substantial open positions but limited evidence that spot demand is strengthening at the same pace. That does not make the advance unsustainable, though it leaves the breakout more exposed to a reversal if leveraged traders withdraw. Rising spot volume during a move above $79,600 and $82,800 would provide clearer evidence that direct buying is supporting the stronger weekly momentum.
ETF demand faces a follow-through test U.S. spot Bitcoin ETFs recorded approximately $1.01 billion in net inflows across the three trading sessions from September 2 through September 4. The strongest session came on September 3, when the funds attracted about $730.9 million.
That session accounted for nearly 73% of the three-day total, showing that the inflows were heavily concentrated on one day. The sequence then reversed, with an estimated net outflow of $46.7 million on September 8, according to SoSoValue.
The outflow does not erase the earlier demand, but it interrupts the positive sequence before Bitcoin has cleared either weekly barrier. Renewed inflows during a breakout would show that U.S. spot ETFs are supporting the move. Continued outflows would leave the breakout with less confirmation from that source of demand.
The weekly closes that decide the setup 1. First test: the 50-week SMA at $79,600 The first positive signal would be a completed weekly close above $79,600. An intraperiod move through the average would not carry the same weight because Bitcoin could fall back below it before the candle closes.
Holding above the average during the following sessions would allow Bitcoin to challenge the May resistance. A close above $79,600 followed by immediate weakness would leave the first breakout attempt unresolved.
2. Second test: the $82,000-$82,800 resistance A weekly close above $82,800 would clear both the May high and the 50-week SMA. Continued trading above the area during the following week would provide stronger confirmation that the previous resistance had become support.
The breakout would be more convincing if spot volume increased and ETF inflows resumed. Those conditions would not guarantee further gains, but they would show that the move had support beyond derivatives trading.
3. Failed resistance test A rejection followed by a weekly close below approximately $77,600 would weaken the recovery and show that buyers could not hold the current range. The $75,700-$76,000 area would then become the next important support.
A deeper decline would bring the midpoint of the recent advance near $71,800 into view. The $64,000-$66,000 region around the 200-week SMA would become relevant only after substantially greater weakness. Short intraday moves should not be used to confirm those weekly downside scenarios.
Spot buyers have not cleared either barrier Bitcoin’s higher RSI could be making this approach more promising than the May test, but price remains below the 50-week SMA and the previous high. Current volume data also shows that derivatives dominate trading, while the latest completed ETF session ended with an outflow.
The bullish case requires a weekly close above both resistance levels, supported by firmer spot activity and renewed ETF demand. Until that happens, stronger momentum represents an improvement rather than confirmation of a durable breakout.
This article is for informational purposes only and does not constitute financial advice.
Author
Kosta has reported on cryptocurrency markets and blockchain infrastructure since 2020, bringing over six years of hands-on experience in the crypto industry built through daily tracking of markets, trends, and emerging blockchain developments. Specializing in Bitcoin on-chain analysis, institutional ETF flows, and digital asset price action, his work at Coindoo has been cited by other news agencies and consistently covers market developments with a focus on data-driven reporting across Bitcoin, Ethereum, Solana, and XRP. Over the years, Kosta has contributed to multiple crypto media outlets in different regions, authoring over 6,000 articles across the sector. His reporting spans cryptocurrency markets and the broader fintech industry, tracking not only price action but also the technological and regulatory forces shaping the ecosystem. To support his analysis, Kosta actively leverages on-chain data and metrics from leading platforms such as Santiment, Glassnode, and CryptoQuant, enabling deeper, evidence-based market insights. He believes in the power of transparency and the data that underpins the blockchain ecosystem. His academic background in Marketing Management from Denmark further complements his analytical approach, adding a strong understanding of communication strategy and content positioning to his work.
Bitcoin (BTC) has continued to recover from its mid-year weakness, outperforming major traditional assets over the past month, amid strong resistance around the $83,000 to $86,000 range.
Bitcoin struggles against $86K resistanceBTC gained 23% over the past 21 trading sessions, while the S&P 500 and Nasdaq 100 were broadly flat and the Euro Stoxx 50 declined, according to a Glassnode report published Wednesday. The move puts Bitcoin at the top of the seven assets the analytics firm tracked over that period.
Despite outperforming major assets, Bitcoin's recent rally has struggled to break through the $83,000 to $86,000 resistance zone, which is the cost basis of most long-term holders (LTHs)
Glassnode's Long-Term Holder Cost Basis Distribution shows that investors acquired roughly 1.07 million BTC between $83,000 and $86,000, with most of those tokens held by long-term holders.
“Supply acquired between $76K and $82K, mostly by recent buyers, has grown while the $62K to $65K accumulation floor thinned as coins bought there rotated out,” Glassnode stated.
The report described the structure as a market that “rebuilt its floor directly under spot and left the ceiling intact.”
Bitcoin Stalled Under the Ceiling Without Reaching It. Source: GlassnodeThe derivatives market points to a similar barrier. The Bitcoin futures liquidation heatmap shows that short liquidation levels between $82,000 and $86,000 have increased 21% since the August 19 squeeze.
“A sustained move through $86K would consume the densest short-liquidation fuel on the map; a loss of $63K would begin to work through the long side,” Glassnode wrote.
Selling pressure remains muted near resistanceDespite Bitcoin nearing its resistance zone, selling pressure has remained relatively weak. The Sell-Side Risk Ratio has fallen to seven basis points per day on a seven-day basis, less than half the 16 basis points recorded at the August peak. At the July and October 2025 market highs, the measure reached 35 and 23 basis points, respectively.
Selling Is Fading at the Top of This Rally. Source: GlassnodeLong-term holders (LTH) accounted for 47% of realized profits, down from 88% during the August peak. The report also noted that the September 3 profit spike was less than half the size of August’s increase.
“The read is a market that has left its value zone without becoming expensive,” Glassnode added.
Altcoins have also risen, with total altcoin market capitalization increasing 21% over the past month. However, altcoins have not significantly gained market share against Bitcoin.
The 90-day change in altcoin share is currently negative at -0.9 percentage points. This suggests that the broad rotation into higher-risk assets typically seen near previous Bitcoin cycle peaks has yet to emerge.
BTC is trading at $78,400, down 0.1% in the past 24 hours at the time of writing.
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From Thursday, the 3rd of September, to Tuesday, the 8th of September, Bitcoin [BTC] underwent a 5.7% retracement, falling from $82,300 to $77,620. Within the past 24 hours, this short-term retracement has begun to reverse.
Source: CryptoQuant Bitcoin is already up 2.4% from the local lows. Moreover, in recent days, the Bitcoin Open Interest has begun to pick up. It showed market participants are entering the derivatives market in increasing numbers.
It could be a sign of a local low. The market sentiment remained in greedy territory, but this week could bring heightened volatility with the CPI report and rate hike expectations.
The $82k supply zone has not yet been convincingly overturned, either. Long-term holder behavior suggested profit-taking.
The surprising Bitcoin reaction to selling pressure Source: Axel Adler Jr. The 30-day change in long-term holder supply had been positive in July, but the trends began to shift around the start of August. As Bitcoin rallied higher past $75k, the LTH supply grew more negative.
Since the start of August, the long-term holder supply has fallen by 98.5k BTC, observed crypto analyst Axel Adler Jr. It was a sign of profit-taking and sell pressure on the market.
Source: Axel Adler Jr. The rally beyond $80k saw the Spent Output Profit Ratio cross above one to reach 1.14 in September. In other words, long-term holders’ realized profits exceeded realized losses, another indication of profit-taking.
Bitcoin is holding up well despite the selling Source: BTC/USDT on TradingView The 4-hour chart has a bullish structure. The past few days’ selling saw a retracement to $77,620, just above the 78.6% retracement level at $77,555. The swing high from May at $82,850 remains the key overhead supply zone to watch.
The fact that Bitcoin maintained its bullish H4 structure despite long-term holder profit-taking meant that demand was able to absorb the selling. This was a good sign of strength from the bulls.
Final Summary Bitcoin saw a 5.7% retracement in five days to fall to $77,620. Despite evidence of long-term holders taking profits and selling into bullish strength, the BTC price continued to hold up well above the $76k demand zone.
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Ripple’s stablecoin has grown 1,278% this year while XRP shed more than a quarter of its value. The network is busier than ever, but the token capturing that activity has a dollar sign and a peg.
Summary
RLUSD market cap hit $2.32 billion with cumulative volume surpassing $9 billion, a 1,278% increase year to date, while XRP dropped 27% over the same period to trade near $1.39. The XRP Ledger processes 2.4 million daily transactions, up 21% year over year, and DEX volume surged 79%, yet active accounts fell 40%, pointing to fewer but larger participants. Seven spot XRP ETFs approved in March 2026 have pulled in $1.68 billion in cumulative inflows, with August alone contributing $153 million to $159 million, the best month since launch. RLUSD supply on the XRP Ledger jumped from 18.4% of total issuance at the start of 2026 to 58.9% today, with $963 million now sitting on XRPL and $1.1 billion on Ethereum. Institutional integrations, including JPMorgan, Mastercard, Convera, and Interactive Brokers, have overwhelmingly adopted RLUSD for settlement, not XRP, raising the question of whether the token is becoming a sidecar to its own ecosystem. The numbers tell two contradictory stories about the same network. XRP started 2026 near $1.90, slid to a July low of $1.06, bounced to $1.55 in August, and then drifted back to $1.36. Down 27% on the year. That is the kind of chart that makes retail traders close their apps and check back in six months.
But the infrastructure underneath that falling price is having its best year. The XRP Ledger is settling more transactions than at any point since the 2021 bull run. RLUSD, barely seven months old, already ranks among the ten largest stablecoins by market capitalization. Ripple signed deals with payment processors that move $190 billion per year. The Bank for International Settlements published a working paper using the XRP Ledger for cryptographic proof of integrity.
None of this lifted the token price. And that contradiction is the story worth unpacking, because it reveals something about XRP that the community has been reluctant to confront: the network’s success and the token’s performance may no longer be the same story.
The stablecoin that ate the narrative RLUSD launched in late 2025 as a compliance-first stablecoin designed to slot into existing banking infrastructure. Ripple positioned it as the settlement layer for cross-border payments, the exact use case that XRP was supposed to own. The company argued the two assets were complementary. Seven months of market data suggest otherwise.
The growth curve speaks for itself. RLUSD crossed $1 billion in market cap in the spring, then $2 billion on August 25, and sits at $2.32 billion today. Cumulative trading volume has passed $9 billion. The growth rate, 1,278% year to date, is the kind of number that would dominate crypto headlines if it belonged to a token people could speculate on. But a stablecoin pegged to one dollar does not generate the same excitement, even when it is quietly absorbing the utility that once justified XRP’s existence.
The listing trajectory tells its own story. Binance added RLUSD in January 2026. OKX followed on April 29. Gate.io on June 15. All four Korean Big 4 exchanges, Upbit, Bithumb, Coinone, and Korbit, now carry it. That is not a niche product limited to Ripple’s partner network. That is distribution at scale, across every major trading region, in under a year.
More revealing is where the supply lives. At the start of 2026, only 18.4% of RLUSD existed on the XRP Ledger, with the rest on Ethereum. Today that figure has flipped to 58.9%, with $963 million on XRPL and $1.1 billion on Ethereum. The stablecoin is migrating to XRP’s home chain at an accelerating pace, which means the ledger’s growing transaction volume is increasingly denominated in dollars, not in XRP. Every mint on the XRPL is a vote of confidence in the chain and a vote of indifference toward the token.
The institutional playbook that skipped XRP When JPMorgan ran its treasury settlement using Ripple infrastructure, it chose RLUSD for the cash leg. Not XRP. That single decision captures the entire institutional logic in one sentence.
The pattern repeated across every major deal Ripple closed in 2026. Convera, the payment company processing $190 billion per year in cross-border volume, integrated RLUSD for its corridor settlements. LMAX Digital signed a $150 million deal to bring RLUSD into its institutional trading infrastructure. Mastercard connected through Ripple’s payment APIs. BlackRock’s BUIDL fund interacted with the Ripple ecosystem through RLUSD rails. Flutterwave, fresh off a $3.2 billion Series E, partnered for African payment corridors where dollar-denominated settlement reduces friction for remittance senders. Interactive Brokers and B2C2 added RLUSD support for their institutional client bases.
Count the names. JPMorgan. Mastercard. BlackRock. Convera. These are not speculative crypto plays. These are the largest financial institutions on earth, and every single one chose the stablecoin over the token. The reasoning is not complicated. A bank treasury desk managing overnight positions in multiple currencies does not want to hold an asset that dropped 27% in eight months. A dollar-pegged token eliminates the volatility risk entirely. The parade of institutional names signing with Ripple is real, but the parade is marching toward RLUSD, and XRP is watching from the sidewalk.
This is not a conspiracy or a failure of strategy. It is the predictable result of building a stablecoin that does the same job as XRP but without the price risk. Ripple created a better product for the exact customer it spent a decade courting. The irony is thick enough to cut.
Consider the pitch Ripple made to banks from 2015 to 2023: use XRP as a bridge asset, settle in three seconds, save 40% to 70% on corridor costs compared to SWIFT. Banks listened politely and mostly declined. The volatility objection was consistent across every boardroom. Now Ripple walks into the same boardrooms with RLUSD, which offers the same three-second settlement on the same ledger with the same cost savings, minus the volatility. Banks are signing. The product-market fit that eluded XRP for a decade arrived the moment Ripple removed the token from the equation.
Fewer, larger hands Here is the number that nobody is talking about. Active accounts on the XRP Ledger dropped 40% year over year. At the same time, daily transactions rose 21% to 2.4 million, and DEX volume surged 79%.
Read those three data points together. Fewer wallets. More transactions. Much higher volume per wallet. The network is concentrating into a smaller number of participants who each move significantly more money.
This is the “fewer, larger hands” paradox, and it reframes the entire XRP story. Retail traders, the ones who drove the 2017 rally and the 2021 echo, are leaving. The 40% drop in active accounts is not a rounding error or a seasonal blip. It is a structural shift that has persisted across multiple months. The people who bought XRP hoping it would hit $10 are gone, or at least dormant, their wallets sitting idle while the network they once championed rewires itself around institutional flows.
Who replaced them? Institutional players routing payments through RLUSD on high-throughput corridors. Market makers filling order books with larger individual trades that generate the same volume from a fraction of the accounts. Treasury operations that do not need thousands of wallets because they consolidate flows into a handful of accounts with API-driven execution and batch settlement. The ledger did not get quieter. It got more efficient, which is the polite way of saying it got more institutional and less retail.
This matters because XRP’s price has always been a retail phenomenon. Institutions did not buy XRP to hold. They used it as a bridge asset, in and out in seconds, which created transaction volume but not sustained buy pressure. The token’s market cap was built on the belief that retail holders and institutional utility would eventually converge, that the network effect would grow large enough to lift the price floor permanently.
Instead, institutions found a way to use the network without the token, and retail left when the price stopped cooperating. The convergence thesis collapsed not because it was theoretically wrong, but because RLUSD offered institutions a better path that did not require XRP exposure at all. The bridge asset became optional the moment the bridge itself could carry dollars natively.
No competitor has published this analysis. The bullish XRP content focuses on ETF inflows and partnership announcements. The bearish content points to price decline and escrow dilution. Neither side has connected the account data to the RLUSD migration to explain what is actually happening on the ledger at a structural level.
The ETF paradox Against all of this, spot XRP ETFs are having a quietly strong year. Seven funds launched after SEC approval in March 2026, and they have pulled in $1.68 billion in cumulative inflows. August was the best month yet, with $153 million to $159 million in net new capital.
That is real money entering real custody wallets, managed by real fund managers with real fiduciary obligations. It validates XRP as an investable asset class in the eyes of traditional finance. It is also a fraction of what Bitcoin and Ethereum ETFs attracted in their first six months, which suggests the institutional appetite for XRP exposure has a ceiling that the community has not fully acknowledged. More critically, it creates its own paradox. ETF buyers are accumulating XRP in a wrapper that removes it from active circulation. They are not sending XRP across borders. They are not providing liquidity on the DEX. They are not participating in the network’s growing transaction volume. They are buying exposure to a price chart that has moved against them all year, warehousing tokens in cold storage vaults while the chain underneath operates on a different asset.
The ETF inflows have not translated into sustained price appreciation because the buy pressure from funds is offset by the sell pressure from escrow unlocks and the broader market’s indifference to XRP’s fundamental story. On September 1, Ripple unlocked three escrow tranches totaling 1 billion XRP: 100 million, 400 million, and 500 million tokens. The remaining escrow holds 32.6 billion XRP, with 1 billion tokens released every month. That is a monthly supply expansion that institutional ETF buyers cannot absorb at current flow rates, especially when the use case those institutions care about now runs on RLUSD.
The structural imbalance between inflows and outflows is the ETF story that the headline numbers obscure. One billion XRP at $1.39 equals roughly $1.39 billion in potential monthly sell pressure. August ETF inflows of $159 million represent 11.4% of that figure. Even assuming Ripple relocks most of each monthly unlock, the escrow mechanism creates a persistent overhang that works against price appreciation.
The ETFs prove that financial products can exist around XRP. They do not prove that XRP needs to appreciate for the Ripple ecosystem to succeed. That distinction is the quiet earthquake at the center of this story.
Regulatory clarity arrived and the price did not care The SEC case is resolved. Japan’s FSA approved RLUSD on June 25. The EU granted MiCA preliminary authorization in Luxembourg on June 23. The BIS published a working paper using the XRP Ledger for cryptographic proof of integrity.
Two years ago, any one of these headlines would have sent XRP up 30% in a day. All four happened in 2026, and XRP is down 27% on the year.
The obvious explanation is that regulatory clarity was already priced in. Markets anticipated the SEC resolution for over a year. The less obvious explanation is more important: regulatory clarity benefited RLUSD more than XRP. A stablecoin needs regulatory approval to function as a payment instrument in a given jurisdiction. A speculative token needs regulatory approval to avoid being delisted. The same event has different implications for different assets, and the market figured that out faster than the community did.
Japan’s FSA approval opened RLUSD to the third-largest economy by GDP, a market where dollar-denominated stablecoin settlement can replace costly yen conversion in cross-border flows. MiCA authorization covers the entire European Economic Area, granting RLUSD legal standing as an electronic money token across 30 countries. These are not theoretical markets. They are jurisdictions where RLUSD can now legally serve as a settlement currency for banks and payment processors.
XRP already traded in these markets before any of these approvals landed. Japanese retail investors have been among the largest XRP holders since 2017. European exchanges listed XRP years ago. The approvals changed nothing about XRP’s accessibility but changed everything about RLUSD’s commercial viability as a regulated payment instrument. Every regulatory win expanded the addressable market for the stablecoin while doing little more than confirming the status quo for the token. The community celebrated each headline as an XRP catalyst. The market priced each one as an RLUSD catalyst. The price chart settled the argument.
The cannibalization thesis Put it plainly. RLUSD is cannibalizing XRP’s primary use case, and Ripple is the one doing it.
This is not accidental. Ripple spent years arguing that XRP’s volatility was a feature, that a three-second settlement window meant the price swing during transit was negligible. That argument worked when the competition was SWIFT, which took days and charged 3% to 7% in corridor fees. It does not work when the competition is RLUSD, which settles on the same ledger in the same three seconds with zero price risk and lower integration complexity.
A payment processor choosing between a bridge asset that lost 27% this year and a stablecoin pegged to one dollar will choose the stablecoin every time. Not because XRP is broken, but because the stablecoin removes a category of risk that no amount of speed can compensate for. The conditions for XRP recovery exist, but they require something beyond Ripple’s core payment business to drive demand.
The bull case for XRP now rests on three pillars that have nothing to do with cross-border payments. First, speculative demand driven by ETF flows and retail re-entry during the next broad market rally. Second, DEX activity on the XRP Ledger creating organic demand for XRP as a base trading pair, a function that grows with on-chain DeFi development. Third, burn mechanics and escrow reductions gradually tightening supply over a multi-year horizon, eventually making the monthly unlocks negligible relative to circulating supply.
None of those pillars requires RLUSD to fail. They coexist. But they also mean that XRP’s investment thesis has quietly shifted from “utility token for global payments” to “speculative asset on a chain that settles stablecoin payments.” That is a meaningful downgrade in narrative, even if the price eventually recovers. It is the difference between owning a toll bridge and owning a house near a toll bridge. The traffic still passes by. The economics are entirely different.
What Ripple gains and what XRP holders lose Ripple the company is having an exceptional year by every metric that matters to a private enterprise. RLUSD generates revenue through minting and redemption fees. Institutional partnerships create recurring payment volume that compounds over time. Regulatory approvals open new markets with each jurisdiction. The Ripple ecosystem, measured by transaction throughput, partner count, and stablecoin adoption, has never been stronger.
XRP holders do not automatically benefit from any of that. Ripple holds billions of XRP in escrow, and the company’s success does not create a direct mechanism for that XRP to appreciate. There is no revenue share. There is no buyback program. There is no on-chain fee distribution. The link between Ripple’s business performance and XRP’s market price was always assumed by the community and never formally codified. In 2026, the data suggests that link is weaker than the community believed.
This is the uncomfortable truth that the “fewer, larger hands” data illuminates. The XRP Ledger is becoming an institutional payment rail denominated in RLUSD. The token that gave the ledger its name is becoming less relevant to the ledger’s primary function with each integration that chooses the stablecoin over the token. The network can thrive while the token stagnates, and 2026 is the first year where both of those things are happening simultaneously and measurably.
That does not mean XRP goes to zero. Plenty of tokens trade on narratives decoupled from their network’s primary utility, and some of them do very well over multi-year cycles. But it means the token needs a catalyst that is independent of Ripple’s payment business. Smart contract functionality expanding on the ledger could attract DeFi protocols that require XRP for gas fees and collateral. A DeFi ecosystem built on XRPL could generate organic trading demand that puts sustained buy pressure on the token through AMM pools and lending markets. Or a supply shock driven by sustained ETF accumulation combined with escrow reduction could tighten the float enough to move the price even without a fundamental use case shift.
Something has to create demand for XRP specifically, not for the XRP Ledger generally. Until that distinction narrows, the great disconnect will persist. And every month that RLUSD grows while XRP stagnates makes the distinction harder to close, because it proves to the next institutional prospect that the ledger works perfectly well without the token.
What to watch RLUSD monthly mint rate versus XRP escrow unlocks. If new RLUSD issuance consistently outpaces the dollar value of monthly escrow releases, the stablecoin is growing faster than the token supply. That ratio tells you which asset the market is choosing in real time. Active account trend reversal. The 40% drop in active accounts is the clearest signal of retail departure. A sustained increase over two consecutive months would indicate fresh participants entering the network, not just existing institutions adding wallets. XRP ETF flow acceleration. August’s $153 million to $159 million was strong but not sufficient to offset escrow sell pressure at current prices. Monthly inflows above $250 million would begin to matter for price. DEX volume composition. The 79% surge in DEX volume is bullish for network activity, but tracking how much of that volume is XRP-denominated versus RLUSD-denominated will reveal whether the token or the stablecoin is driving on-chain trading growth. Institutional settlement currency disclosure. When the next major bank or payment processor announces a Ripple integration, watch whether the press release names RLUSD, XRP, or both. That language is the clearest forward indicator of which asset institutions are choosing to build on. What is the current price of XRP? XRP trades near $1.39 as of early September 2026, down approximately 27% from its January high near $1.90. The token hit a year-to-date low of $1.06 in July before rallying to $1.55 in August, then pulling back again.
What is RLUSD and how big has it gotten? RLUSD is Ripple’s dollar-pegged stablecoin launched in late 2025. It has grown to a $2.32 billion market cap with cumulative trading volume exceeding $9 billion, representing 1,278% growth year to date. It is listed on Binance, OKX, Gate.io, and all four major Korean exchanges.
Why is XRP falling while the network grows? The XRP Ledger’s growing activity is increasingly driven by RLUSD settlement and institutional payment flows that use the stablecoin instead of XRP as the value transfer layer. Network utility and token price have decoupled because the utility does not require the token.
How many spot XRP ETFs exist? Seven spot XRP ETFs launched following SEC approval in March 2026. They have attracted $1.68 billion in cumulative inflows, with August generating $153 million to $159 million, the strongest single month since launch.
Is RLUSD replacing XRP for payments? Institutional integrations in 2026, including JPMorgan, Convera, Mastercard, and Interactive Brokers, have adopted RLUSD for settlement. Banks and payment processors prefer a dollar-pegged asset over a token carrying a 27% annual drawdown for the same three-second settlement speed.
How much XRP remains in escrow? Ripple holds 32.6 billion XRP in escrow with monthly unlocks of 1 billion tokens. On September 1, three tranches of 100 million, 400 million, and 500 million XRP were released. The escrow creates persistent monthly sell pressure.
Why did regulatory wins not boost XRP price? The SEC resolution, Japan FSA approval of RLUSD, and EU MiCA authorization were largely priced into XRP before they occurred. More significantly, these events disproportionately benefited RLUSD by opening new jurisdictions for regulated stablecoin use while changing little for XRP’s existing market access.
Should I buy XRP based on this analysis? This article examines the structural relationship between XRP price action and RLUSD adoption. Individual investment decisions depend on personal risk tolerance, time horizon, and financial situation. This is educational analysis, not investment advice.
Disclaimer: This article is for informational and educational purposes only. It does not constitute financial, investment, or trading advice. Cryptocurrency markets carry significant risk. Always conduct your own research before making investment decisions. Published September 9, 2026.
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
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Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
Bitcoin is holding above $78,000 as traders anticipate a potential pullback before the next rally, with key macro events set to drive risk-asset sentiment.
Notable Statistics:
Coinglass data shows 79,941 traders were liquidated in the past 24 hours for $221.57 million. SoSoValue data shows net outflows of $46.7 million from spot Bitcoin ETFs on Tuesday. Spot Ethereum ETFs saw net outflows of $24.3 million. In the past 24 hours, top gainers include NEAR Protocol, Venice Token and Pump.fun. Notable Developments:
Bitcoin Makes Golden Cross but That May Not Be a Good SignBitcoin-Gold Correlation Hits a 6-Year High: What’s Going On?Bitcoin Holds $79,000, Defying Fed Hike Fears: What Is Going On?Bitcoin Supply in Profit Hits 69.3%, Glassnode Says: Here’s Why That’s ConcerningCLARITY Act Passage Tumbles to a 14% Chance: Is the Senate Vote too Little too Late?Trump’s ‘Made In America’ Bitcoin Mining Pledge Is Falling Apart: What’s Going On?Dogecoin Eyes Breakout to 10 Cents but There’s One ProblemTrader Notes:
Trader Dom noted Bitcoin is holding the $80,000 area well after its nearly 30% rally, with strong spot buying absorbing heavy selling.
He remains neutral to slightly bullish as long as $76,000 holds but sees little trading edge inside the current range.
Trader Jelle predicts that if Bitcoin’s recent low proves to be the cycle bottom, this bear market would be both shorter and shallower than previous cycles.
Trending
This raises questions about whether the next bull market could also behave differently.
Bitcoin may be undergoing vertical accumulation, with higher highs and higher lows forming beneath resistance as buyers absorb supply, exitpump said. A strong breakout through resistance could trigger continuation into price discovery.
Image: Shutterstock
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In brief Trezor said its third-party email provider was breached and used to send phishing emails. The fake alert claimed an STM32 hardware flaw weakened recovery phrases on some Trezor devices. Security researchers said similar emails targeting BitBox users may point to a broader compromise of hardware-wallet email providers. Hardware wallet maker Trezor warned users Wednesday that hackers breached its third-party email provider and used it to distribute a phishing email disguised as a critical security warning.
“Please be aware that the email named ‘Critical Security Alert: STM32 Entropy Vulnerability’ is not coming from us, and it’s a phishing attempt. Do not click on any link,” Trezor wrote on X.
Myriad: How high will Bitcoin go in September? Click to make your prediction.Trezor said it took down the domain used in the attack and is investigating how hackers gained access to its legitimate domain.
The fake Trezor email claims the company's engineers discovered a “critical hardware-level vulnerability” in STM32 microcontrollers used in its devices. It then falsely claims the defect affects an estimated one in four devices and could leave recovery phrases with insufficient randomness, or entropy, likely playing on fears related to the recent Coldcard exploit that cost users over $130 million in Bitcoin.
Trezor issued a statement calling the email fraudulent and warning its users just after 4:30 p.m. Easter Time, but it came hours after several users reported receiving the phishing scam from what appeared to be a legitimate Trezor email address.
Casa co-founder and CEO Nick Neuman said the campaign may extend beyond Trezor, adding he’d heard the same from Bitbox users as well.
“It’s likely that a marketing email provider was compromised,” Neuman said on X. “Stay frosty and don't trust provider emails that try to get you to take actions via sketchy looking links.”
Bitcoin security researcher and Casa Chief Security Officer, Jameson Lopp, raised a similar warning.
“Threat actors may have compromised the email provider(s) used by Trezor and BitBox,” he posted. “Malicious emails claiming both have bad RNGs that require security updates are being sent, and the emails don't appear to be spoofed,” Lopp wrote on X. “No such security advisory has been issued!”
In August, Trezor and fellow crypto hardware wallet maker Foundation warned users about phishing attempts exploiting hardware wallet security fears after researchers disclosed vulnerabilities affecting Coldcard devices.
That same month, Trezor reported that a breach at shipping provider ShipMonk exposed customer data belonging to 80,689 people, including names, email addresses, phone numbers, and shipping addresses, and warned that the leaked information could be used in more sophisticated phishing attacks.
Daily Debrief NewsletterStart every day with the top news stories right now, plus original features, a podcast, videos and more.
In brief Trezor said its third-party email provider was breached and used to send phishing emails. The fake alert claimed an STM32 hardware flaw weakened recovery phrases on some Trezor devices. Security researchers said similar emails targeting BitBox users may point to a broader compromise of hardware-wallet email providers. Hardware wallet maker Trezor warned users Wednesday that hackers breached its third-party email provider and used it to distribute a phishing email disguised as a critical security warning.
“Please be aware that the email named ‘Critical Security Alert: STM32 Entropy Vulnerability’ is not coming from us, and it’s a phishing attempt. Do not click on any link,” Trezor wrote on X.
Myriad: How high will Bitcoin go in September? Click to make your prediction.Trezor said it took down the domain used in the attack and is investigating how hackers gained access to its legitimate domain.
The fake Trezor email claims the company's engineers discovered a “critical hardware-level vulnerability” in STM32 microcontrollers used in its devices. It then falsely claims the defect affects an estimated one in four devices and could leave recovery phrases with insufficient randomness, or entropy, likely playing on fears related to the recent Coldcard exploit that cost users over $130 million in Bitcoin.
Trezor issued a statement calling the email fraudulent and warning its users just after 4:30 p.m. Easter Time, but it came hours after several users reported receiving the phishing scam from what appeared to be a legitimate Trezor email address.
Casa co-founder and CEO Nick Neuman said the campaign may extend beyond Trezor, adding he’d heard the same from Bitbox users as well.
“It’s likely that a marketing email provider was compromised,” Neuman said on X. “Stay frosty and don't trust provider emails that try to get you to take actions via sketchy looking links.”
Bitcoin security researcher and Casa Chief Security Officer, Jameson Lopp, raised a similar warning.
“Threat actors may have compromised the email provider(s) used by Trezor and BitBox,” he posted. “Malicious emails claiming both have bad RNGs that require security updates are being sent, and the emails don't appear to be spoofed,” Lopp wrote on X. “No such security advisory has been issued!”
In August, Trezor and fellow crypto hardware wallet maker Foundation warned users about phishing attempts exploiting hardware wallet security fears after researchers disclosed vulnerabilities affecting Coldcard devices.
That same month, Trezor reported that a breach at shipping provider ShipMonk exposed customer data belonging to 80,689 people, including names, email addresses, phone numbers, and shipping addresses, and warned that the leaked information could be used in more sophisticated phishing attacks.
Daily Debrief NewsletterStart every day with the top news stories right now, plus original features, a podcast, videos and more.
XXAntiWar shorted 5,200 ZEC at an average price of $1,273, with a total value of $6.62 million.
According to EmberCN’s monitoring, crypto KOL XXAntiWar—who earlier booked over $860,000 in unrealized profit from chasing the "Niu Lai" rally—shorted ZEC worth $6.62 million in the early hours of today. 2.19 million USDC was transferred to his Hyperliquid address overnight, used to short 5,200 ZEC at an entry price of $1,273, amounting to $6.62 million.
6 minutes ago
LAPTOP: 4 million tokens will be deployed to incentivize liquidity, while 10 million tokens will be burned.
Hunter Biden, son of former US President Joe Biden, has stated that the X account of Meme coin LAPTOP Foundation has been suspended. The team is working to restore the account, will release updates via Medium in the interim, and confirmed the foundation will not exit the LAPTOP project. The latest project announcement notes that the team will deploy 4 million LAPTOP tokens (0.40% of total supply) to the Aerodrome liquidity pool starting at midnight UTC on September 10 to incentivize liquidity. Separately, two events under the protocol’s prediction allocation mechanism have been resolved as "YES", leading to the burning of 10 million LAPTOP tokens—permanently reducing the circulating supply by 1% within the token’s first week of launch. The team reiterated: "Do not expect us or anyone to make this token more valuable to you. LAPTOP was built to express a certain attitude."
6 minutes ago
Leading on-chain meme tokens have generally corrected, with MEME, CASHCAT, 4Stock and USELESS all falling.
According to GMGN data, recent on-chain hot tokens and leading meme tokens have generally entered a correction phase. Details are as follows: On the Robinhood chain: MEME is down 23% over 24 hours, with a current market capitalization of $62 million, after previously hitting a peak of over $170 million; CASHCAT is down 12% in 24 hours, current market cap at $162 million; AI is down 16% in 24 hours, current market cap at $193 million; microduck is down 46% in 24 hours, current market cap at $9.4 million; BONER is down 18% in 24 hours, current market cap at $36 million. Pair.fund platform token PAIR is down 27% in 24 hours, with a current market cap of $6.5 million. Stratton Market project token STRATTON is down 56% in 24 hours, its market cap now standing at just $1.6 million. OuroLayer token OURO is down 47% in 24 hours, with a market cap of $2.1 million. On the BSC chain: Niu Lai is down 21% in 24 hours, current market cap at $81 million; Hakimi is down 27% in 24 hours, current market cap at $32 million; 4Stock is down 37% in 24 hours, current market cap at $33.5 million; The meme coin Meme Build, paired with BNC4, has seen its market cap evaporate by 90% in 24 hours, now at $2.3 million. On the Solana chain: ZCAT is down 18% in 24 hours, current market cap at $85 million; USELESS is down 23% in 24 hours, current market cap at $220 million. BlockBeats reminds users that token prices are highly volatile, so investment should be approached with caution.
6 minutes ago
Bonk Guy’s portfolio posted a 24-hour drawdown of $3.47 million, maintaining heavy positions in PONS, USELESS, and MarsCoin.
Renowned trader Bonk Guy’s publicly disclosed portfolio on the Fomo platform is currently valued at $16.43 million, with a 24-hour drawdown of $3.47 million, while it has still grown by $3.93 million over the past seven days. He previously stated, “I’m completely unfazed by the drawdown, and I’m very confident my portfolio will hit new highs and eventually reach $50 million.” Below is a breakdown of Bonk Guy’s current portfolio, including only tokens with holdings valued over $200,000: PONS: $6.9837 million, return of 10,213.81% USELESS: $3.5704 million, return of 311.72% MarsCoin: $2.6635 million, return of 172.46% Basecat: $683,300, return of 38.33% MEME: $628,900, return of 34.45% ◆: $243,700, return of 61.66%
6 minutes ago
Jiang Zhuoer: Buying US-listed BNC with a 5% position is equivalent to purchasing BNB at a 50% discount.
Founder of BTC.TOP (B.TOP) Jiang Zhuoer posted that U.S. stock BNC has fallen to the $4.4 support level. He has opened a 5% test position at around $4.5 for a trial buy, expecting BNC could drop as low as its breakout point of $4. Currently, BNC’s mNAV is approximately 49%, holding BNB worth $400 million, while the company’s current market cap is less than $200 million — equivalent to acquiring BNB at a 50% discount. If the flywheel effect of BNC + Meme works, that would be an unexpected upside. According to BIT (bit.com) market data, BNC plunged 15.62% during U.S. regular trading hours, rebounded 2.71% after hours, and is now trading at $4.55. Separately, GMGN data shows the on-chain tokenized stock BNC4 on BSC is priced at $5.584, with a roughly 23% premium over its underlying common stock.
6 minutes ago
Block joins the wave of U.S. federal banking license applications, with plans to establish a trust bank for Bitcoin and stablecoin custody.
Twitter co-founder Jack Dorsey’s payment firm Block has filed an application with the U.S. Office of the Comptroller of the Currency (OCC) to establish an uninsured national trust bank named Builders Bank & Trust, N.A. Nominee president and CEO Lee Woolley stated in a declaration that the bank will leverage Block’s digital asset expertise, Square Financial Services’ track record, and the team’s deep banking capabilities to advance Block’s long-term vision of “economic empowerment.” If approved, Builders Bank will offer custody and other trust services including bitcoin and stablecoins, and establish a federal regulatory framework for some of Block’s existing custody operations. This application is the latest move in the race between fintech and crypto firms to secure federal banking charters. Last week, Revolut received conditional OCC approval, joining the ranks of Coinbase, Paxos, BitGo, Ripple, and Circle. Under its current leadership, the OCC has taken a friendly stance toward the crypto industry; it previously also granted conditional approval to World Liberty Financial, a project backed by the Trump family, sparking reviews over potential conflicts of interest. Since 2025, the OCC has received 40 applications for new bank charters, approved 21, and rejected only two. Block’s application for a federal charter at this juncture marks its expansion from payments and crypto operations to federally regulated, bank-grade custody infrastructure.
Trezor said attackers breached its third-party email provider and sent customers a phishing email disguised as a critical chip security alert, the company’s third vendor failure in four weeks.
The hardware wallet company said it took down the domain behind the campaign and is investigating how attackers reached its legitimate domain. Reportedly, wallets, keys, and recovery backups were never exposed.
Trezor’s Email Provider Breach Follows the ShipMonk LeakAn August 10 incident at ShipMonk, the partner that ships Trezor orders, started the run. A September 4 update pushed the number of exposed customers above 80,000.
That leak held names, phone numbers, and home addresses. BeInCrypto reported in August that devices stayed safe while the phishing and scam risk climbed. Customers have since reported scam calls and printed letters.
The pattern is old. Trezor warned 66,000 users after a support portal breach in 2024, and rivals have stumbled too, with SafePal leaking nearly 40,000 records last month. The devices hold up. The partners holding customer data do not.
Why the Fake STM32 Alert WorksThe email arrived as a critical security alert about an “STM32 Entropy Vulnerability.” STM32 names the family of small chips inside Trezor devices.
Entropy is the randomness a wallet uses to build a recovery phrase, the backup that controls the funds. Weak randomness would be a real danger, which makes the lure credible to a worried owner.
Our third-party e-mail provider has been breached. Please be aware that the email named ‘Critical Security Alert: STM32 Entropy Vulnerability’ is not coming from us, and it’s a phishing attempt. Do not click on any link,” the team warned.
Follow us on X to get the latest news as it happens
What Trezor Users Should Do Now
Do not click links in any unexpected Trezor email, especially one citing STM32 or entropy.
Never type a recovery phrase or device passcode into a website.
Treat unexpected phone calls and physical letters as hostile until verified.
Check trezor.io or the verified Trezor account on X for real notices.
Anyone who entered a backup on a linked page should move funds to a new wallet.
Leaked contact details paired with a genuine sender domain strip away the signals users lean on.
“There are convincing phishing emails going out right now from hardware wallet companies (have heard Trezor and Bitbox at least). It’s likely that a marketing email provider was compromised. That will mean more customer emails are leaked,” one user noted.
Indeed, BitBox, a Swiss-made Bitcoin hardware wallet also reported a similar incident, only that the phishing mail was sent out to their newsletter subscribers.
Our preliminary review of the phishing mail that was sent out to our newsletter subscribers about an hour ago found that it is very likely that our newsletter provider got compromised.
Multiple other Bitcoin companies got targeted as well, and it appears that we all share the…
— BitBox (@BitBoxSwiss) September 9, 2026
According to BitBox, the phishing attacks may have targeted Bitcoin companies sharing the same newsletter provider.
Canary Capital has launched the first U.S. Tron staking ETF, which begins trading today.
The first U.S. staking ETF linked to TRON (TRX) began trading on September 9, with the ticker symbol TRXS, and is issued by Canary Capital. The ETF not only offers exposure to TRX’s price, but also participates in the staking mechanism of the TRON network. Staking rewards will be included in the fund’s net asset value, providing traditional market investors with a new channel to access TRX and staking yields. Canary Capital noted that as stablecoins continue to gain global popularity, TRON has become an important infrastructure for digital asset payments and settlements. The TRON network is widely used for stablecoin transfers due to its low costs and high efficiency. Over the past year, Canary Capital has launched multiple crypto ETFs covering assets including HBAR, Litecoin, and XRP.
4 hours ago
Apple’s foldable iPhone Duo will officially go on sale in China on October 23, with a starting price of 15,999 yuan.
Apple unveils its first foldable iPhone, the iPhone Duo. When unfolded, it boasts a 7.6-inch inner display — the largest ever on an iPhone — while folded, it uses a 5.4-inch outer screen whose area equals 90% of the iPhone 18 Pro’s. Both screens support ProMotion, always-on display, and a peak outdoor brightness of 3,000 nits. The device features a Grade 5 titanium body and a precision hinge made of over 100 components, is IP68 dust and water resistant, and integrates Touch ID into the side button. Powered by a 2nm A20 Pro chip and a custom vapor chamber, the iPhone Duo delivers sustained performance up to 35% higher than the iPhone 17 Pro, and supports split-screen multitasking for two apps at once. It is equipped with a 48MP main camera and a 48MP ultra-wide-angle lens; its foldable design also enables functions like rear-camera selfies and real-time preview on the outer screen. The phone uses a dual-battery setup, offering up to 44 hours of video playback when using the outer screen. The iPhone Duo comes in two color options — Star White and Night Sky — with storage capacities of 256GB, 512GB, 1TB, and 2TB. It starts at $1,999 in the U.S., with pre-orders opening on October 16 and official sales kicking off on October 23, launching first in over 70 countries and regions including China. Pricing for the new iPhone series in China: The iPhone 18 Pro starts at 9,999 yuan, the iPhone 18 Pro Max at 10,999 yuan, and the iPhone Duo at 15,999 yuan.
4 hours ago
Trump: Putin hopes to reach an agreement, and it would be good if Zelenskyy is willing to hold talks too.
US President Donald Trump said Russian President Vladimir Putin wants to reach an agreement, and it would be "great" if Ukrainian President Volodymyr Zelensky is also willing to do so. Trump also claimed that oil prices will drop sharply after the midterm elections, adding that he had a good conversation with Putin and may hold a bilateral meeting with Russia. Earlier, a US special envoy recently visited Moscow and Kyiv in succession to promote the resumption of peace talks between Russia and Ukraine. After Trump's call with Putin on September 8, the Kremlin stated that the two sides discussed ways to end the Russia-Ukraine conflict.
4 hours ago
Trump: The Iran War Will End Immediately After Midterm Elections, Negotiations Still Possible
US President Trump said the war with Iran would end immediately after the midterm elections, adding that the United States "is not seeking to reach an agreement" but negotiations could still take place. Trump had previously stated that US military operations against Iran would not last long, but US-Iran tensions have continued to escalate recently, with conflicts intensifying near the Strait of Hormuz, and international oil prices once surging past $100 per barrel.
4 hours ago
SpaceX's intraday decline widens to 5%, currently trading at $146.
According to market data from BIT (bit.com), SpaceX (SPCX) has extended its intraday decline to 5%, currently trading at $146.
4 hours ago
Project World is continuously optimizing its front-end UI, with user deposits secure and transactions functioning normally.
World, a full on-chain prediction market in the Solana ecosystem, announced in a post that its website is currently experiencing high traffic, with over 1 million users accessing the platform. User deposits remain secure, platform transactions are executing normally, and backend systems are operating as expected. The team is continuing to optimize the frontend user interface, and the overall operation of the platform is in good condition.
Bitcoin, küresel likidite koşullarındaki değişimlere karşı hassas bir dijital varlık olmaya devam ediyor. Japon yenindeki güçlenme ise bu kez kripto para piyasası açısından yakından izlenmesi gereken bir gelişme olarak öne çıkıyor. Hedge fonlarının pozisyonları, dolar/yen kurunun yıl sonunda 150 seviyesinin altına inebileceğine, bazı uzun vadeli işlemlerde ise 140 seviyesine kadar gerileyebileceğine işaret ediyor.
Hedge Fonları Yen İçin Nasıl Pozisyon Alıyor? Chicago Mercantile Exchange (CME) Group verileri, yatırımcıların yenin değer kazanacağı yönünde yoğunlaştığını gösteriyor. Salı günü dolar/yen paritesinde en aktif kontrat, kullanım fiyatı 142,86 olan kasım vadeli put opsiyonu oldu.
Yıl sonundan önce sona erecek put opsiyonlarının sayısı call opsiyonlarının üç katından fazla seviyeye çıktı. Put opsiyonları, doların yen karşısında değer kaybetmesi durumunda değer kazandığı için bu tablo yatırımcıların daha güçlü yen beklentisini ortaya koyuyor.
Dolar/yen kuru salı gününe kadar geçen bir haftada yaklaşık yüzde 5 geriledi. Parite daha sonra kayıplarının bir bölümünü geri alsa da hareket, yen üzerinden borçlanarak yatırım yapan yatırımcıların carry trade pozisyonlarını hızla kapatmasına neden oldu.
Yen Neden Bir Anda Güçlenmeye Başladı? Hareketin hızını anlamak için birkaç hafta geriye gitmek gerekiyor. Üç hafta önce dolar/yen kuru yaklaşık 159 seviyesinde bulunurken Japon yatırımcılar hâlâ carry trade işlemlerini artırıyordu.
15 Ağustos’a kadar olan iki haftalık dönemde Japon yatırımcılar 5 trilyon yenden fazla yabancı varlık satın aldı. Ancak Japonya’da yükselen enflasyon, piyasa beklentilerini tersine çevirdi.
Japonya Merkez Bankası Başkanı Kazuo Ueda ve yönetim kurulu üyesi Hajime Takata’nın daha şahin mesajlar vermesi, yen lehine hareketi hızlandırdı. Dolar/yen paritesi daha sonra, Japonya Maliye Bakanlığı’nın mayıs ayındaki müdahalesine rağmen korunan 155 seviyesinin altına indi.
Çarşamba günü parite yaklaşık 153,44 seviyesinde işlem gördü. Buna rağmen dolar karşısında yen yıl genelinde hâlâ yüzde 2,1 değer kaybetmiş durumda.
Güçlü Yen Bitcoin Fiyatını Neden Baskılayabilir? Bitcoin şimdilik bu hareketten ciddi şekilde etkilenmiş görünmüyor. BTC çarşamba günü 78.848 dolar civarında işlem görürken son 24 saatte yüzde 0,26 yükseldi. Ancak asıl risk, yen üzerinden finanse edilen pozisyonların çalışma mekanizmasından kaynaklanıyor.
Yatırımcılar düşük maliyetle yen borçlanıp bu kaynakları dolar bazlı kripto pozisyonlarında kullanabiliyor. Yen güçlendiğinde borcun geri ödeme maliyeti yükseliyor ve yatırımcıların riskli varlıkları elde tutma isteği azalabiliyor.
Japon tahvil getirilerinin yükselmesi de bu süreci destekliyor. Daha yüksek getiriler, yatırımcılar açısından yen cinsinden varlıkları daha cazip hale getirirken carry trade işlemlerinin avantajını azaltıyor.
Bitcoin İçin 150 Seviyesi Neden Kritik? Her iki hareket aynı anda hızlanırsa yatırımcılar carry trade pozisyonlarını zorunlu olarak kapatabilir. Böyle bir çözülme, Bitcoin ve diğer riskli varlıklarda satış baskısını artırabilir.
Nomura’nın verilerine göre makro fonlar şu anda dolar/yen paritesinde 150-152 bölgesine odaklanıyor. 12 aylık vadeye sahip bazı yapılandırılmış işlemler ise 140 seviyesine kadar uzanıyor.
Dolayısıyla Bitcoin açısından yalnızca fiyat grafiğini takip etmek yeterli olmayabilir. Japonya Merkez Bankası’nın eylül toplantısında yenin güçlenmesini destekleyen beklentileri doğrulayıp doğrulamayacağı kritik önem taşıyor.
Bu içerik kesinlikle yatırım tavsiyesi niteliği taşımamaktadır. Piyasalar yüksek risk içermektedir ve yatırım kararlarınızı almadan önce kendi araştırmanızı yapmanız önemlidir.
Son Dakika kripto para haberleri için hemen tıkla.
Konu ile ilgili yorumlarınızı bize yazabilirsiniz. Ayrıca, bu tarz bilgilendirici içeriklerin devamının gelmesini isterseniz, bizleri Telegram, Youtube ve Twitter kanallarımızdan takip edebilirsiniz.
Cover image via depositphotos.com Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Among the biggest cryptocurrency assets, XRP has had the best daily ETF flow result. It is now the only significant spot cryptocurrency ETF category to draw in new investment, while Bitcoin, Ethereum, Solana, and Hyperliquid products all saw withdrawals.
XRP reaches breakthrough thresholdAccording to the most recent spot ETF data from September 8, the net inflows for XRP products were about $1.55 million. Although the amount is modest in absolute terms, it is noteworthy when compared to rival assets.
Source: Sosovalue HOT Stories
Bitcoin ETFs ended a three-day inflow streak with net outflows of $46.65 million. Ethereum followed with $24.29 million in outflows from spot products, while Hyperliquid ETFs experienced withdrawals of $12.96 million. A smaller $667,720 outflow was reported by Solana. As a result, XRP was the only asset among these five that had positive daily flows.
Additionally, the overall view is still positive. Five U.S. spot XRP ETFs have net assets of about $1.51 billion and cumulative net inflows of about $1.69 billion. In just the past 30 days, XRP products have brought in about $173 million.
Is XRP in pre-breakout territory?When compared to the underlying market, the divergence becomes especially intriguing. Following its significant August breakout, XRP is currently trading between $1.39 and $1.40 and is still above the long-term moving average at $1.35. Buyers have so far avoided a total reversal toward pre-breakout territory, even though the initial rally has cooled.
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Though its ETF flows have gone negative for the day, Bitcoin is likewise consolidating around $79,000 following its swift recovery. Despite its ETF outflow, HYPE is still near its recent highs of $86, while SOL is holding around $104 following its surge toward $110.
However, a single successful session should not be taken as proof that institutional capital is firmly shifting to XRP. At about $55.59 billion, Bitcoin's total ETF inflows are still much higher.
The current divergence may be a sign of relatively higher institutional demand if inflows continue while BTC, SOL, and HYPE products find it difficult to draw in capital. As of right now, XRP has emerged victorious in the daily ETF flow comparison; however, confirming a significant trend will require a few more positive sessions.
SpaceX's intraday decline widens to 5%, currently trading at $146.
According to market data from BIT (bit.com), SpaceX (SPCX) has extended its intraday decline to 5%, currently trading at $146.
43 minutes ago
Project World is continuously optimizing its front-end UI, with user deposits secure and transactions functioning normally.
World, a full on-chain prediction market in the Solana ecosystem, announced in a post that its website is currently experiencing high traffic, with over 1 million users accessing the platform. User deposits remain secure, platform transactions are executing normally, and backend systems are operating as expected. The team is continuing to optimize the frontend user interface, and the overall operation of the platform is in good condition.
43 minutes ago
Iranian officials announced that Iran will escalate its crackdown operations in response to U.S. attacks.
Iranian officials have stated that Iran will escalate its retaliatory strikes in response to the U.S. attack. (Jinshi)
43 minutes ago
US Treasuries extended their decline after the repurchase announcement, with the market viewing the $6 billion cap as insufficient.
The U.S. Treasury Department said it will purchase between $40 billion and $60 billion in long-term government debt in the first operation of its expanded repurchase program, demonstrating Secretary Bessent’s resolve to curb the recent rise in borrowing costs. U.S. Treasuries extended their earlier decline following the announcement, indicating the program’s size fell short of some investors’ expectations. The success of the expanded purchase program remains to be seen. After the program was first announced last month, yields fell before rebounding later. The benchmark 10-year yield hit its highest level since 2023 last week. Economist Guha, a former staffer at the New York Fed, noted: “The challenge always lies in whether the impact of these interventions can persist without larger fundamental changes.” Moreover, the maximum size of the repurchase operation does not mean the Treasury will necessarily purchase that amount of Treasuries. However, in repurchases targeting long-term nominal debt, the department typically buys the full amount; since the program was relaunched in 2024, it has only failed to do so in two of 52 such operations. (Jinshi)
43 minutes ago
Eric Trump mocks Joe Biden’s son Hunter Biden over the botched launch of the LAPTOP token, saying he should go back to painting.
US President Donald Trump’s second son Eric Trump reposted a post about the meme coin LAPTOP’s sharp price crash after its launch, commenting: “Hunter should go back to painting.” His remarks target Hunter Biden, son of former US President Joe Biden, who launched the meme coin LAPTOP. The reposted post notes that LAPTOP plummeted 98% within minutes of going live, adding that the project had originally planned to allocate a portion of its tokens to users who incurred losses from TRUMP-related transactions.
43 minutes ago
Solana ecosystem prediction market World officially launches, opening to over 1 million waitlist users.
Solana ecosystem full on-chain prediction market World announced that its independent platform World.xyz has officially launched, with over 1 million users on its waitlist. The platform offers thousands of markets spanning sports, cryptocurrency, politics, finance, economics, and culture, covering all NFL regular seasons, 7 soccer leagues, F1 races, the 2026 U.S. midterm elections, and Federal Reserve interest rate decisions. Since integrating Phantom in July, World has launched more than 150,000 markets. Each market on the platform consists of "Yes" and "No" contracts, priced between $0 and $1, and settled using Phantom’s U.S. dollar stablecoin CASH. Technically, World leverages Chainlink Data Streams and Chainlink Runtime Environment to provide market data and automated settlements, reducing manual intervention and dispute resolution wait times. Prediction markets for stock price movements, gold, silver, oil, natural gas, computing power, and weather will be rolled out sequentially.
Jiang Zhuoer, one of China’s most well-known cryptocurrency miners and the founder of BTC.TOP, has offered his current assessment of Bitcoin.
Bitcoin Analysis from Jiang Zhuoer! Jiang Zhuoer, in a post from account X, stated that Bitcoin’s current uptrend has not yet ended, but a significant correction in the market may be on the horizon.
Jiang stated that Bitcoin could rise to the $83,000-$84,000 range before pulling back.
The renowned analyst also noted that Bitcoin is still moving within an upward channel. However, Zhuoer stated that a correction is possible following the current rise.
Zhuoer added that if the $82,300 level is the pre-correction peak, the pullback will be prolonged, followed by frustrating sideways trading with wide price fluctuations.
Watch Out for the $72,000 Level! Jiang states that his base scenario is for Bitcoin to first test the $83,000-$84,000 region, and then retreat to around $72,000. Indeed, Zhuoer had previously announced a few days ago that he closed his Bitcoin position at around $82,050 and considered the $83,000-$84,000 region a significant resistance area.
In conclusion, it should be remembered that this assessment is Jiang’s personal opinion and Bitcoin could move in a different direction.
*This is not investment advice.
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Phong Le has a modest goal: get every human on Earth access to Bitcoin. The Strategy CEO laid out his vision for the company to serve as a bridge between traditional capital markets and the world’s largest cryptocurrency, using the firm’s suite of securities products to bring Bitcoin exposure to all 8 billion people on the planet.
It’s the kind of ambition that sounds absurd until you look at what Strategy has already pulled off. The company, formerly known as MicroStrategy before its February 2025 rebrand, holds approximately 845,050 BTC on its balance sheet. That’s more than 4% of Bitcoin’s entire supply, locked inside one corporate treasury.
The securities play Strategy’s approach to Bitcoin isn’t just “buy and hold.” Under Le’s leadership since 2022, the company has built out a capital structure designed to give investors amplified Bitcoin exposure through traditional financial instruments.
Rather than simply tracking Bitcoin’s price, Strategy offers equity, preferred stock, and other securities that provide Bitcoin-linked returns. The firm’s STRC variable-rate perpetual preferred shares, for instance, give investors a way to earn Bitcoin-correlated yields without ever touching a wallet or exchange.
Le has described the company’s role in grand terms, likening Strategy to the “JPMorgan of the crypto economy.” Le has also stated that a core mission is delivering returns to shareholders that exceed Bitcoin’s own performance, a goal made possible by the company’s ability to raise capital through equity sales and redeploy it into BTC.
The key distinction Le draws is that his decisions around Bitcoin transactions hinge on cost of capital rather than spot price movements. Most retail Bitcoin holders obsess over daily price action. Le’s team thinks about whether selling equity or deploying BTC to fund preferred dividends makes more financial sense at any given moment.
How the math works in practice A recent example illustrates the approach. During the summer of 2026, Strategy sold roughly 7,000 BTC at prices between $60,000 and $65,000 to cover preferred dividend obligations. Later, the company turned around and purchased 4,603 BTC at an average price of approximately $80,318.
On the surface, selling low and buying higher looks counterintuitive. But Le’s framework prioritizes maintaining zero net debt and substantial cash reserves over timing the market. The sales funded obligations that would have otherwise required debt issuance, while the subsequent purchase reflected a strategic reallocation when capital conditions were favorable.
Making Bitcoin investable for everyone Le’s 8-billion-person ambition isn’t purely aspirational posturing. There’s a practical logic to it. Billions of people around the world have access to brokerage accounts or investment platforms that support equity and preferred stock purchases. Far fewer have the technical know-how or regulatory access to buy Bitcoin directly.
By packaging Bitcoin exposure into traditional securities, Strategy effectively bypasses the friction that keeps most of the global population out of crypto. You don’t need a hardware wallet, a KYC-verified exchange account, or any understanding of private keys. You just need the ability to buy a stock.
For institutional investors who face regulatory constraints around holding crypto directly, Strategy’s securities offer a compliant alternative. For retail investors in countries where Bitcoin exchanges are restricted or unreliable, the stock ticker provides a backdoor into the asset class.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
In brief Prosecutors allege the suspects entered Meléndez’s home searching for a cold wallet they believed held “million-dollar amounts in Bitcoin.” Meléndez, his pregnant wife, their three-year-old daughter and a domestic worker were killed. The couple’s six-year-old son survived. Two men have been arrested, with prosecutors alleging one offered the other 2 million pesos, or about $118,000, if they obtained the crypto. Mexican prosecutors allege two men targeted the home of Camilo Séptimo keyboardist Jonathan Meléndez in search of a cold wallet they believed contained millions of dollars in Bitcoin, killing the musician and three others.
According to a report by IBTimes UK, Meléndez, his pregnant wife Ana Paula Barragán, their three-year-old daughter Sofía, and 21-year-old domestic worker Aleyda Romero were found dead at the family’s home in Atizapán de Zaragoza, State of Mexico, on September 1. The couple’s six-year-old son survived.
Myriad: Next round of Iran peace talks? Click to make your prediction.State prosecutors said the suspects allegedly entered the home searching for a cold wallet they believed contained “million-dollar amounts in Bitcoin.”
Authorities identified the suspects as Diego Sebastián and Gerardo, using “N” in place of their surnames in accordance with Mexican privacy rules for criminal proceedings. Diego Sebastián, a business associate of Meléndez, allegedly used their relationship to gain access and offered Gerardo 2 million pesos, about $118,000, to help obtain the crypto. Both were arrested on September 2.
Cold wallets don’t store Bitcoin itself; instead, they are typically devices also known as hardware wallets, like the popular Ledger, Trezor, or the air-gapped Coldcard, that store the private keys that control access to the funds. While cold wallets protect against many online attacks, they do not eliminate physical threats, as criminals can target holders directly to gain access to their wallets.
The killings are the latest in an increase in physical attacks targeting crypto holders. Blockchain analytics firm Chainalysis documented 46 violent crypto attacks through late June, with more than $30 million stolen during the first half of 2026. Home invasions accounted for 37% of documented incidents.
In June, two Texas brothers pleaded guilty to holding a Minnesota family at gunpoint for more than eight hours and forcing the father to transfer more than $8 million in cryptocurrency.
Daily Debrief NewsletterStart every day with the top news stories right now, plus original features, a podcast, videos and more.
In brief Prosecutors allege the suspects entered Meléndez’s home searching for a cold wallet they believed held “million-dollar amounts in Bitcoin.” Meléndez, his pregnant wife, their three-year-old daughter and a domestic worker were killed. The couple’s six-year-old son survived. Two men have been arrested, with prosecutors alleging one offered the other 2 million pesos, or about $118,000, if they obtained the crypto. Mexican prosecutors allege two men targeted the home of Camilo Séptimo keyboardist Jonathan Meléndez in search of a cold wallet they believed contained millions of dollars in Bitcoin, killing the musician and three others.
According to a report by IBTimes UK, Meléndez, his pregnant wife Ana Paula Barragán, their three-year-old daughter Sofía, and 21-year-old domestic worker Aleyda Romero were found dead at the family’s home in Atizapán de Zaragoza, State of Mexico, on September 1. The couple’s six-year-old son survived.
Myriad: Next round of Iran peace talks? Click to make your prediction.State prosecutors said the suspects allegedly entered the home searching for a cold wallet they believed contained “million-dollar amounts in Bitcoin.”
Authorities identified the suspects as Diego Sebastián and Gerardo, using “N” in place of their surnames in accordance with Mexican privacy rules for criminal proceedings. Diego Sebastián, a business associate of Meléndez, allegedly used their relationship to gain access and offered Gerardo 2 million pesos, about $118,000, to help obtain the crypto. Both were arrested on September 2.
Cold wallets don’t store Bitcoin itself; instead, they are typically devices also known as hardware wallets, like the popular Ledger, Trezor, or the air-gapped Coldcard, that store the private keys that control access to the funds. While cold wallets protect against many online attacks, they do not eliminate physical threats, as criminals can target holders directly to gain access to their wallets.
The killings are the latest in an increase in physical attacks targeting crypto holders. Blockchain analytics firm Chainalysis documented 46 violent crypto attacks through late June, with more than $30 million stolen during the first half of 2026. Home invasions accounted for 37% of documented incidents.
In June, two Texas brothers pleaded guilty to holding a Minnesota family at gunpoint for more than eight hours and forcing the father to transfer more than $8 million in cryptocurrency.
Daily Debrief NewsletterStart every day with the top news stories right now, plus original features, a podcast, videos and more.
Bitcoin (BTC) struggled below $80,000 on Wednesday as attention refocused on the Japanese yen.
Key points:
Bitcoin saw further macro headwinds as US-Iran strikes pushed Brent crude oil above $100 per barrel.The Japanese yen continued to trade around 153 per dollar, its highest levels since February as yen shorts stayed near record highs.US Treasury Secretary Scott Bessent hinted at further interventions in yen currency markets to come.Bitcoin lacks momentum as Iran strikes sour risk-asset moodData from TradingView showed the local upside in the BTC/USD pair reversing as it attempted to revisit the $80,000 mark. BTC is currently down by around 0.4% on the day.
US stocks also drifted lower at the Wall Street open, fueled by fresh US strikes on Iranian oil tankers. The tensions helped send oil prices to new three-month highs, building on gains from the day prior.
At the time of writing, WTI crude traded above $96 per barrel, while Brent crude surged above $101 per barrel for the first time since late July.
CFDs on Brent crude oil one-day chart. Source: Cointelegraph/TradingView
Traders also eyed fresh developments in the yen as Japan’s currency hit its highest levels against the dollar since February. It is currently at $0.0065, up 6.5% since the start of August.
Previously, Cointelegraph reported on repeated joint interventions in foreign exchange markets by Japan and the US, which resulted in the rapid strengthening. The yen’s gains continued despite speculation that Washington may keep Japan from selling US Treasuries as part of future interventions.
Yen short interest lingers near record highsCiting data from Bloomberg on Wednesday, Barchart flagged record yen short positioning at the start of September, with the total hovering above 5 trillion yen.
Japanese yen short positioning. Source: Barchart on X.com
In subsequent commentary, Charu Chanana, chief investment strategist at Saxo, told Reuters that the yen’s continued strength would have implications for these shorts as part of an unwinding of the yen carry trade. The USD/JPY pair is key for liquidity conditions that could ultimately impact crypto markets.
“The carry trade is vulnerable because this unwind is happening before the BOJ has even delivered its expected hike,” she said.
“Some yen shorts have already been cut, but positioning still looks sizeable, so further yen strength can turn a gradual reduction in leverage into a much faster, self-reinforcing unwind.”
The risk was exacerbated by the Bank of Japan’s anticipated 0.25% interest-rate hike at its next meeting on Sept. 28.
Last month, US Treasury Secretary Scott Bessent suggested that the door was open to future yen intervention operations. This week, he doubled down on those hints, appearing to dare short traders to bet against central banks.
“When we intervene with the Japanese yen, I have pretty good insight into what the Bank of Japan is going to do, what Japanese policymakers are going to do. I have asymmetric information. I am the house now,” he said in an event at Southern Methodist University in Texas on Tuesday, quoted by the Financial Times.
This article is produced in accordance with Cointelegraph's Editorial Policy and is intended for informational purposes only. It does not constitute investment advice or recommendations. All investments and trades carry risk; readers are encouraged to conduct independent research.
Fintech veteran Wojciech Kaszycki has identified three tests for real bank adoption of Bitcoin: client custody balances, credit-funded spot trades and its use as loan collateral, following Standard Chartered’s launch of deliverable BTC and ETH trading for eligible UAE institutions.
Summary
Standard Chartered now offers institutional BTC/USD and ETH/USD trading through its existing electronic channels. Kaszycki said bank credit lines, custody, and back-office integration matter more than a familiar trading screen. Bitcoin-backed loans with published collateral haircuts would show that banks can price and manage the asset’s risk. Crypto-native venues may retain their advantage in weekend liquidity, derivatives, and trading outside banking hours. Standard Chartered has put Bitcoin trading on existing bank rails Standard Chartered said on Sept. 3 that eligible institutions can trade deliverable Bitcoin and Ether through its Dubai International Financial Centre branch, making it the first global systemically important bank to offer institutional digital asset spot trading in the UAE.
The service supports BTC/USD and ETH/USD trades through the bank’s existing electronic channels, including interfaces already used for foreign exchange. Clients can choose where their assets settle, either using Standard Chartered’s UAE custody platform or another custodian.
As crypto.news previously reported, the bank introduced the UAE service more than a year after launching the same trading model through its UK branch in July 2025. Standard Chartered had already begun offering regulated digital asset custody in the UAE in September 2024, initially supporting Bitcoin and Ether with Brevan Howard Digital as its first client.
Wojciech Kaszycki, founder and chairman of Mobilum and a strategy advisor to Warsaw-listed BTCS S.A., told crypto.news that placing digital assets on a bank’s foreign exchange interface only removes one small obstacle for institutions.
According to Kaszycki, treasury teams care more about the identity of their counterparty, internal risk approval, custody standards, auditor acceptance, and the way each trade enters the company’s accounting system.
“Nobody on a treasury team ever says: ‘I’d buy bitcoin if only it looked like my EUR/USD ticket.”
A meaningful system, in his view, would connect Bitcoin trades to the credit lines, limits, confirmations, and back-office processes that institutions already use for currencies. Such integration would let a treasury department treat crypto as a regular balance-sheet item instead of running it as a separate project.
“If it’s just a new ticker in the GUI and everything behind it is manual, it’s a demo,” Kaszycki said.
Drawing on his work with a listed Bitcoin treasury company and a Dubai family office, he added that trading against a bank credit line without sending funds to a venue in advance would make it easier to secure board approval.
Bitcoin collateral would offer a clearer adoption test Spot volume provides a poor measure of institutional adoption because trading activity can rise without showing whether companies or funds intend to hold digital assets, according to Kaszycki.
He instead pointed to custody balances held at banks for clients outside the crypto industry. Such balances would show that conventional companies, funds, and other institutions have chosen to hold Bitcoin through regulated banking relationships rather than merely trade it.
His second indicator is bank credit for spot purchases. Removing the need to prefund a trade would indicate that a bank’s risk department has assessed the asset, set exposure limits, and approved it within the institution’s credit framework.
Bitcoin entering bank lending books would provide the strongest signal, he said, especially if lenders disclose the haircuts applied to the collateral. A haircut reduces the value that a bank assigns to pledged property when calculating how much it will lend.
“When a bank has to price it, custody it, and liquidate it if needed, that’s adoption. Everything else is marketing,” Kaszycki said.
Banks in the United States have already started moving in this direction. An August report on JPMorgan collateral cited Bitcoin haircuts of 30% to 50%, meaning $1 million in pledged BTC could support between $500,000 and $700,000 in loan proceeds, depending on the borrower and loan terms.
According to the report, accepting Bitcoin as collateral also creates liquidation risk because a steep price decline could trigger margin calls and forced sales. Lenders therefore need rules for valuation, custody, collateral monitoring and liquidation before placing BTC alongside assets such as bonds, equities or gold.
Kaszycki also pointed to listed companies whose auditors approve Bitcoin holdings on their balance sheets. BTCS holds Bitcoin as a treasury asset on the Warsaw Stock Exchange, and he said the audit process requires more work than completing the trade itself.
Separate custody leaves a settlement problem Allowing clients to use their preferred custodian offers flexibility, but Kaszycki said splitting execution and custody creates a familiar settlement risk. One party may need to transfer first, prefund the transaction, or use an escrow provider trusted by both sides.
Deliverable spot trading requires the buyer to receive the underlying Bitcoin or Ether rather than a cash-settled contract linked to its price. When the digital asset and cash travel through separate systems, completion of one leg can occur before the other.
Kaszycki compared the setup with foreign exchange settlement in 2005. In his assessment, Bitcoin can reach final settlement in under an hour at any time, while the dollar transfer may remain tied to SWIFT processing, bank opening hours, and payment cutoffs.
“The slow leg is fiat,” he said.
Tokenized bank deposits or regulated stablecoins could place the cash and asset legs on compatible systems, allowing payment-versus-payment settlement in which both transfers complete together, according to Kaszycki. Custodians would also need conditional release functions instead of waiting to confirm receipt of a wire before releasing the crypto.
For transactions between several banks, he said a netting network modeled on CLS could reduce the gross amounts that counterparties exchange bilaterally. Without such a system, banks must rely on credit lines, approved wallet lists, settlement windows, and staff monitoring blockchain explorers.
Standard Chartered has already tested ways to separate exchange activity from asset storage. Under a collateral-mirroring arrangement introduced by OKX in April 2025, institutions can keep eligible assets with the bank while their value appears in an exchange trading account. The framework later added BlackRock’s BUIDL tokenized U.S. Treasury fund as eligible collateral in April 2026.
Banks could win regulated flows while exchanges retain liquidity Large banks can capture more institutional crypto trading because corporate treasuries, investment funds, insurers and Gulf sovereign institutions often prefer counterparties that already support their compliance and credit requirements, Kaszycki said.
Clients may accept a higher spread in return for access to a bank’s balance sheet, documentation, and established relationship. Kaszycki expects banks to source prices from crypto-native markets before adding a spread for institutional customers.
Crypto exchanges would retain several advantages under such a structure. Their markets operate continuously, including weekends, while banks remain organized around business hours and existing staffing models. Native venues also offer more assets and deeper derivatives markets, where much of crypto price discovery still occurs.
“At BTCS, we already do most of our size OTC with market makers rather than on order books, exactly for settlement flexibility,” he said. “Banks are just the next step in that same logic.”
U.S. rules now give national banks room to participate in several parts of the process. A December 2025 report on OCC guidance explained that national banks may conduct matched crypto transactions as riskless principals, provided they offset the exposure and comply with trading, anti-money laundering and third-party risk controls.
Earlier OCC guidance also confirmed that national banks can provide crypto custody and execution or outsource those functions to qualified providers. Banks remain responsible for managing the risks created by sub-custodians and other outside firms.
An August review of the U.S. custody market found that BNY, State Street, Standard Chartered, U.S. Bank, and Citi had launched or were preparing direct digital asset custody services. The report linked increased bank participation to the SEC’s January 2025 withdrawal of Staff Accounting Bulletin 121 and OCC letters confirming banks’ custody authority.
Kaszycki said banks extending spot credit would show that their risk teams had built formal models for Bitcoin, while disclosed collateral haircuts would reveal how lenders value its volatility. On the corporate side, he would count listed companies whose auditors approve Bitcoin holdings, a process BTCS has already completed for its Warsaw-listed treasury.
In brief IonQ is taking orders for Superion 256, with customer deliveries scheduled for 2027. The company says electronics built into its chips will help it manufacture more systems at lower costs. Its first chips and prototypes mark progress, but IonQ has not disclosed results demonstrating a complete 256-qubit computer’s performance. Publicly traded tech company IonQ unveiled its Superion 256 quantum computer Tuesday, opening orders for a system it expects to deliver in 2027 as it works to expand production.
The Maryland-based company builds quantum computers and offers access through cloud services. It also develops quantum networking, sensing, and security technology.
Myriad: How high will Nvidia trade in Sept? Click to make your prediction.“Superion is the result of two strategic acquisitions coming together to deliver this historic milestone,” IonQ Chairman and CEO Niccolo de Masi said in a statement. “Oxford Ionics enabled IonQ to control natural, trapped-ion qubits using standard electronics, and SkyWater unlocked the ability to manufacture at semiconductor costs and scale.”
IonQ says its chipmaking subsidiary, SkyWater, has fabricated the first 256-qubit processors, and teams have trapped the first ions in prototypes at several U.S. facilities. A qubit is a quantum computer’s basic unit of information.
An ordinary computer bit holds either a zero or a one. A qubit can be prepared in a combination of those states before measurement, a property that quantum computers use to approach certain calculations differently.
More qubits can support more complex calculations, but they are sensitive to disturbances that cause errors. A 256-qubit computer’s usefulness depends on how reliably those qubits work together. IonQ aims to manufacture these systems using established chipmaking methods, with electronics built into the chip to control the atoms.
“Quantum computing, like classical computing before it, ultimately scales most powerfully on a semiconductor foundation,” de Masi said. “Superion 256 is the first quantum computer platform designed to be built by the hundreds rather than one at a time. Every generation that follows will be designed, fabricated, and packaged similarly—creating unique upgradeability in our Superion platform.”
IonQ says SkyWater cut its chip design cycle from nine months to two. Superion 256 fits a standard server rack and will also be accessible through IonQ’s cloud. The company pre-sold its first system in early 2026, with deliveries planned for 2027. It is also developing Superion 10K, aiming to demonstrate error-resistant computing in 2027 and begin commercial production in 2028.
The news comes as researchers debate how soon quantum computers could threaten Bitcoin. A powerful enough machine could use an exposed public key to calculate the secret key needed to spend someone else’s Bitcoin.
Such an attack would require sustained, reliable calculations using error-protected qubits, and a 256-qubit machine does not automatically break 256-bit security because the numbers measure different things.
Preparations are nevertheless underway. Galaxy announced up to $5 million in funding for Bitcoin quantum-security work in July, including developer grants, research, and an advisory council.
Daily Debrief NewsletterStart every day with the top news stories right now, plus original features, a podcast, videos and more.
In brief IonQ is taking orders for Superion 256, with customer deliveries scheduled for 2027. The company says electronics built into its chips will help it manufacture more systems at lower costs. Its first chips and prototypes mark progress, but IonQ has not disclosed results demonstrating a complete 256-qubit computer’s performance. Publicly traded tech company IonQ unveiled its Superion 256 quantum computer Tuesday, opening orders for a system it expects to deliver in 2027 as it works to expand production.
The Maryland-based company builds quantum computers and offers access through cloud services. It also develops quantum networking, sensing, and security technology.
Myriad: How high will Nvidia trade in Sept? Click to make your prediction.“Superion is the result of two strategic acquisitions coming together to deliver this historic milestone,” IonQ Chairman and CEO Niccolo de Masi said in a statement. “Oxford Ionics enabled IonQ to control natural, trapped-ion qubits using standard electronics, and SkyWater unlocked the ability to manufacture at semiconductor costs and scale.”
IonQ says its chipmaking subsidiary, SkyWater, has fabricated the first 256-qubit processors, and teams have trapped the first ions in prototypes at several U.S. facilities. A qubit is a quantum computer’s basic unit of information.
An ordinary computer bit holds either a zero or a one. A qubit can be prepared in a combination of those states before measurement, a property that quantum computers use to approach certain calculations differently.
More qubits can support more complex calculations, but they are sensitive to disturbances that cause errors. A 256-qubit computer’s usefulness depends on how reliably those qubits work together. IonQ aims to manufacture these systems using established chipmaking methods, with electronics built into the chip to control the atoms.
“Quantum computing, like classical computing before it, ultimately scales most powerfully on a semiconductor foundation,” de Masi said. “Superion 256 is the first quantum computer platform designed to be built by the hundreds rather than one at a time. Every generation that follows will be designed, fabricated, and packaged similarly—creating unique upgradeability in our Superion platform.”
IonQ says SkyWater cut its chip design cycle from nine months to two. Superion 256 fits a standard server rack and will also be accessible through IonQ’s cloud. The company pre-sold its first system in early 2026, with deliveries planned for 2027. It is also developing Superion 10K, aiming to demonstrate error-resistant computing in 2027 and begin commercial production in 2028.
The news comes as researchers debate how soon quantum computers could threaten Bitcoin. A powerful enough machine could use an exposed public key to calculate the secret key needed to spend someone else’s Bitcoin.
Such an attack would require sustained, reliable calculations using error-protected qubits, and a 256-qubit machine does not automatically break 256-bit security because the numbers measure different things.
Preparations are nevertheless underway. Galaxy announced up to $5 million in funding for Bitcoin quantum-security work in July, including developer grants, research, and an advisory council.
Daily Debrief NewsletterStart every day with the top news stories right now, plus original features, a podcast, videos and more.
Bitcoin (BTC) is holding firm above key levels despite strong US payrolls data that boosted Federal Reserve rate-hike odds.
Wintermute says August payrolls printed 162,000 against a 53,000 consensus, lifting September hike odds near 60%.
Bitcoin reached $82,400 before pulling back but still closed last week above $80,000, up 3.45%. The crypto market maker also notes that Bitcoin exchange-traded funds (ETFs) recorded $987 million in inflows last week for a third straight positive week, nearing $3.8 billion over the run, while Ethereum ETFs added $215 million over the same time frame.
According to Wintermute, investor capital is rotating from exhausted equities and consolidating gold into BTC and ETH.
“Crypto held a hot payrolls print that equities and duration didn’t, and the money that left gold and stalled equities showed up in BTC and ETH. That is the equity exhaustion we’ve been waiting on as the precondition for a new cycle.”
Bitcoin’s roughly 50% drawdown from peak is shallower than the 75%+ seen in 2018 and 2022 at similar points, consistent with earlier institutional participation via ETFs.
“Breadth is improving and profits from one cohort are funding the next, which is how a young cycle looks. It breaks when a rotation lands on a cohort that doesn’t lift or the majors roll over without a new leader…
Glass half full. We’d revise on a clean break below $72,000 with ETF outflows turning meaningfully negative, faster if CPI pushes hike odds through 70%.”
Bitcoin reached $79,701.36 overnight and had round-tripped the move by midday in New York, leaving it flat over 24 hours. Ninety-three of the 123 largest non-stablecoin tokens are lower. Zcash holds a 56.3% weekly gain after DCG exchanged 85,705 ZEC for about $100 million of Grayscale's ETF, a swap disclosed in an 8-K filed Tuesday. U.S. spot bitcoin funds recorded their first outflow since Sept. 1.
Crypto's overnight advance did not survive the U.S. open on Wednesday. Bitcoin carried a gain out of the Asian and European sessions, gave all of it back in the first hours of New York trading, and by midday sat within $60 of where it closed on Tuesday.
The tape is waiting on two federal price releases. August producer prices publish Thursday and consumer prices Friday, both at 8:30 a.m. ET, and they are the last scheduled inputs before a Federal Open Market Committee meeting at which prediction-market traders now favor a rate increase. Zcash is trading on its own news, after Digital Currency Group put $100 million into Grayscale's listed fund on Tuesday.
Bitcoin last changed hands at $78,591.04, down 0.1% over 24 hours and up 2.4% over seven days, after trading between $78,308.42 and $79,701.36, CoinGecko data shows. Ether was at $2,497.54, down 0.2% on the day and up 4.1% on the week, on a range of $2,472.65 to $2,521.51.
XRP fell 1.2%, Solana fell 1.3%, BNB fell 2.1% and holds a 7.8% weekly advance.
Total crypto market value stood at $2.79 trillion, up 0.04% over 24 hours, on $87.67 billion of volume, with bitcoin dominance at 56.5%. Thirty of the 123 largest non-stablecoin tokens rose and 93 fell.
"Spot has traded in very tight ranges to start this week, with the market largely in a cautionary mode ahead of the inflation data on Thursday and Friday," the derivatives trading desk of Laser Digital wrote in commentary emailed to reporters on Wednesday. "BTC is back around the high of $70K area, while ETH is holding around the mid-$2,000 area." The firm asks that the commentary be attributed to the desk rather than to an individual.
Sold At The OpenBitcoin's 24-hour high of $79,701.36 came in the overnight window, above the $79,432.20 it reached on Tuesday. The low of $78,308.42 came after the U.S. open.
It is 37.7% below the $126,080 record it set on Oct. 6, 2025.
The Crypto Fear & Greed Index read 66 on Wednesday, down from 69 on Tuesday and 74 on Sept. 4, according to Alternative.me. It has read above 60 every day since Aug. 29.
DeFi total value locked was $87.82 billion, down 0.17% over 24 hours, DefiLlama data shows. Stablecoin supply was $305.17 billion, up 0.54% over seven days and 1.55% over 30 days.
DCG Swaps Zcash For SharesZcash traded at $1,284.42, up 7.2% over 24 hours, 56.3% over seven days and 152.3% over 30 days, on $1.73 billion of volume against a $21.74 billion market value. It is the tenth-largest token and the only one of the 20 biggest higher by more than 2% on the day.
The fund disclosed the buyer behind part of that move. In an 8-K filed Tuesday, the Zcash ETF reported under Item 8.01 that "DCG acquired shares of the Trust having an aggregate value of approximately $100 million through an Authorized Participant, or its AP Designee, in exchange for 85,705.32563297 ZEC tokens."
The accompanying press release says the fund's assets under management have "grown to more than $500 million" two weeks after its Aug. 25 listing on NYSE Arca, with "cumulative inflows of more than $70 million in the two weeks since launching as an ETP." It describes the buyer as DCG International Investments Ltd. and states that ZCSH "is the only ETP in the world that allows investors to access ZEC exposure."
The exhibit also confirms the "launch of ZCSH options trading on NYSE Arca earlier today." The Defiant reported on Tuesday that Grayscale had announced the options listing without naming the venue, and that no corroborating exchange notice or SEC filing was retrievable at the time. Tuesday's 8-K is that document.
The swap is an in-kind creation rather than an open-market purchase: DCG handed over tokens it already held and received fund shares. DCG said in an amended filing last month that it was in non-binding talks to acquire about 200,000 ZEC. The Defiant covered Grayscale's original conversion filing in November 2025 and the Winklevoss disclosure of Cypherpunk Technologies' Zcash treasury.
A Hike Takes The LeadPolymarket put a quarter-point increase at the Sept. 15-16 meeting at 55% and no change at 45%, on $106.5 million of volume. A quarter-point cut and a half-point increase each trade at 1% or below. The same contracts read 53% and 47% at midday, 54.5% and 45.5% at Tuesday's close, and 30.5% and 67.5% on Aug. 24.
"September appears balanced, and with Fed Chairman Kevin Warsh making clear that he is not particularly concerned about the labour market, inflation is likely to decide the meeting," the Laser Digital desk wrote. "The FOMC comes before the next PCE release, leaving PPI and CPI as the key remaining inputs."
The desk said the order of this week's releases matters. "What could make this week interesting is the PPI coming before CPI," it wrote. "Normally the market tends to look through PPI because it prints after CPI and adds relatively little new information, but this time it should carry more weight as the first read on inflation ahead of the meeting."
Options positioning has not followed spot lower, according to the same note. "Front-end risk reversals have also repriced meaningfully in favour of calls, with the move appearing at least partly flow-driven," the desk wrote.
Brent Clears The HundredBrent crude traded at $100.74 a barrel at 7:31 a.m. ET, up 2.88% from Tuesday's settlement of $97.92, on a range of $98.83 to $100.96. It last settled above $100 on July 23, and settled at $99.31 on Tuesday, its highest close since that date.
Gold futures were at $4,471.40, up 0.73%, in morning trading. S&P 500 futures were down 0.3% at 7,657.75 shortly after the open.
The 10-year Treasury par yield closed Tuesday at 4.80% and the 30-year at 5.25%, against 4.78% and 5.24% on Sept. 4, according to Treasury data. U.S. equities closed lower Tuesday, with the S&P 500 down 0.58% at 7,673.52 and the Nasdaq Composite down 0.32% at 26,421.41.
ETFs Break The StreakU.S. spot bitcoin ETFs recorded $46.6 million of net outflows on Tuesday, their first negative session since Sept. 1, according to Farside Investors. The three sessions before it took in $1.01 billion combined, including $730.8 million on Sept. 3. Farside's ether table shows no net flow recorded for Tuesday, after $25.9 million of inflows on Sept. 4. Wednesday's rows publish after the U.S. close.
Monday was the Labor Day holiday and produced no ETF row.
Raydium Takes The MorningTokenPrice24h7dRaydium (RAY)$1.33+18.7%+72.5%NEAR Protocol (NEAR)$2.60+10.9%+40.8%Tezos (XTZ)$0.2606+7.6%+25.0%Zcash (ZEC)$1,284.42+7.2%+56.3%Cosmos Hub (ATOM)$1.89+5.6%+30.1%Venice Token (VVV)$24.52+2.3%+55.8%Raydium led without a dated announcement, trading between $1.12 and $1.47 on $179.4 million of volume against a $357.6 million market value. The Solana automated market maker settled $321.5 million of DEX volume over 24 hours against $1.13 billion of total value locked, and collected $1.61 million in fees and $296,349 in revenue, DefiLlama data shows. That places it second on Solana behind Pump's $737.1 million, on a chain that settled $2.52 billion of DEX volume, according to DefiLlama. Raydium's site carries no announcement banner.
Venice Token set a record $29.19 around 3:45 a.m. ET and gave back most of the move, ending the morning up 2.3% on $218.8 million of volume. The most recent post on the Venice blog is dated July 1 and covers a $65 million Series A. The tokenomics update carried on the same page sets emission cuts for Sept. 1 and Oct. 1 and a DIEM supply target for Sept. 14, dates fixed five weeks ago.
NEAR holds a 40.8% weekly gain on $620 million of volume against a $3.40 billion market value. The project's blog loads its posts dynamically and no dated September announcement was retrievable.
Cosmos Hub and Tezos continue the rotation into pre-2018 layer-1 tokens that The Defiant covered on Tuesday, when Polkadot, Cosmos Hub, Decred and Ethereum Classic all rose more than 8% without a shared catalyst. Polkadot and Ethereum Classic have each given back about 5% on Wednesday.
Akedo Gives It BackTokenPrice24h7dAkedo (AKE)$0.01528-22.1%+76.5%Worldcoin (WLD)$0.4351-10.5%+22.8%Arbitrum (ARB)$0.1518-10.2%+32.1%Aerodrome Finance (AERO)$0.5763-7.6%+23.3%Celestia (TIA)$0.3927-5.9%+12.3%Uniswap (UNI)$6.59-4.1%+12.8%Injective (INJ)$6.13-4.0%+28.8%Akedo fell hardest among the 150 biggest tokens for a second consecutive session, trading between $0.01418 and $0.02136, and still holds a 76.5% weekly gain. It ended Tuesday 8.6% lower after trading 21% higher at midday.
Arbitrum and Worldcoin both gave back roughly a tenth while holding weekly gains above 20%. Injective gave back part of the run that followed its Kraken and Robinhood listings on Monday and Tuesday. Aerodrome fell 7.6% on the day the deepest pool for Hunter Biden's LAPTOP token, which opened on Base late Tuesday, sat on Aerodrome Slipstream.
Laptop Skews The BoardCoinGecko's 24-hour losers list is topped by Hunter Biden's LAPTOP at minus 98.8%, ahead of every other token on the site. The figure is measured from the $199.51 print in the token's oldest Base pool at launch late Tuesday. On the Aerodrome pool holding the most liquidity, the same 24 hours reads as a gain. The token entered the top 100 by market value on its first day of trading. The Defiant covered the launch and is reporting the pool-by-pool numbers separately.
Prices and market data as of 12:45 p.m. ET on Sept. 9, 2026.
Investors seeking exposure to Bitcoin often look beyond direct purchases and instead buy shares in publicly traded Bitcoin treasury companies. However, owning shares in such firms is fundamentally different from holding Bitcoin itself.
Understanding mNAV and Company ValuationA key metric for comparing these companies is mNAV, which measures how the market values a firm relative to its Bitcoin holdings. An mNAV of 1.0x indicates that the company’s valuation matches the market value of its Bitcoin. At 1.5x, the market values the company at $1.50 for each dollar of Bitcoin it owns, while 0.8x reflects a discount.
This measure has gained prominence as companies such as Strategy and Metaplanet, which hold sizeable Bitcoin treasuries, attract investors looking for alternative ways to access Bitcoin. Coinpaper, a digital asset market analysis platform, regularly ranks these firms by the scale and valuation of their Bitcoin reserves.
The formula for mNAV is not standardized. The simplest version divides a company’s equity market capitalization by the current value of its Bitcoin holdings. Some analysts prefer a broader enterprise value approach, adding debt and preferred stock and subtracting cash before comparing to the Bitcoin treasury.
For example, BitcoinTreasuries.net uses the enterprise-value version to evaluate treasury-focused companies:
mNAV = (Market cap + debt + preferred stock − cash) ÷ value of Bitcoin holdings.
Strategy, a prominent Bitcoin treasury company, adopts its own method. The firm calculates mNAV as its share price divided by Net Bitcoin Per Share, which factors in senior claims and U.S. dollar assets. According to Strategy, this approach differs from traditional NAV accounting.
Mini dictionary: Strategy is a publicly traded company known for its significant Bitcoin holdings and innovative treasury management, often issuing shares to finance Bitcoin purchases.
Treasury Premiums, Issuances, and RisksPremiums often exist because investors view these companies as vehicles for future Bitcoin acquisitions, not just their current holdings. When a treasury firm’s shares trade above NAV, it can issue new equity at this premium to raise fresh capital and acquire more Bitcoin. If managed effectively, this process can increase the underlying Bitcoin per share for existing shareholders.
Strategy has utilized this mechanism extensively, with Coinpaper highlighting repeated equity issuances to fund additional Bitcoin purchases. This approach has helped define the company’s model over time.
CompanyBTC HoldingsAcquisition CostAvg PricemNAVStrategy845,050 BTC$63.73 billion$75,4121.14xMetaplanetN/AN/AN/A0.97xAs of September 7, Strategy reported holding approximately 845,050 BTC, acquired at an average price of $75,412 per Bitcoin, with a total cost of $63.73 billion, according to its most recent SEC filing. The company’s mNAV recently stood at about 1.14x, reflecting a slight premium to its Bitcoin NAV. Metaplanet, another listed treasury-focused firm, recently traded near 0.97x mNAV, positioning its market value close to its Bitcoin reserves.
An mNAV below 1.0x does not automatically imply a bargain. Markets may price in possible risks such as corporate debt, preferred stock, dilution, management issues, or the chance that a company might liquidate its Bitcoin holdings.
Market Fluctuations and Strategic AdjustmentsPast collapses in treasury-stock premiums have resulted in losses for shareholders, particularly when investor sentiment or capital market support declines. Coinpaper has documented episodes where Bitcoin treasury premiums evaporated during less favorable market conditions.
To navigate these fluctuations, Strategy has expanded its financial playbook beyond direct Bitcoin purchases, including the use of debt, preferred securities, and the possibility of Bitcoin sales to maintain liquidity. These evolving tactics reflect the company’s adaptive approach to Bitcoin treasury management and were further detailed in Coinpaper’s recent analyses.
Sometimes, a treasury company’s share price rises above the value of its Bitcoin. This allows it to raise capital through new equity issuance, which can increase the Bitcoin per share backing if deployed efficiently.
Builders Bank would operate under direct federal supervision without taking deposits or making loans, but the application still requires OCC approval.
Block has applied to establish Builders Bank & Trust, N.A., which, if approved, would be an uninsured national trust bank under direct federal supervision, the company said on Sept. 8.
The proposed bank would provide custody and related fiduciary services, including for bitcoin and stablecoins, under the supervision of the Office of the Comptroller of the Currency. Block separately said the charter would establish a federal framework for certain custody and related activities it already offers.
Builders Bank would not accept deposits or make loans. It would also be uninsured, limiting the proposed institution to a different model from a conventional deposit-taking lender.
The filing remains at the application stage. Block said it is subject to OCC review and approval, and that Builders Bank would not begin operating until it receives the required regulatory approvals. At the reporting cutoff, the OCC's public digital-assets table listed applications received through Aug. 19 and did not yet include Builders Bank.
Block Enters the OCC Charter PipelineThe OCC table contained 11 pending digital-asset licensing applications received between Feb. 23 and Aug. 19. That list follows the agency's conditional approval of five national trust bank applications in December 2025: new charters for Circle's First National Digital Currency Bank and Ripple, and conversions for BitGo, Fidelity Digital Assets and Paxos.
Circle said in July that it had received final OCC approval to establish its trust bank, which would provide digital-asset custody and was designed to eventually manage USDC reserves, as The Defiant reported. Block is now seeking approval for its own federally supervised trust bank, with a stated focus on custody and fiduciary services including bitcoin and stablecoins.
The Bank Policy Institute, which represents large banks, has opposed a series of earlier limited-purpose national trust applications. BPI argued that companies should not receive trust charters unless they plan to operate genuine trust companies, and warned against using the charter as a lighter regulatory route for bank-like products.
BPI's objections predate Block's application and do not assess Builders Bank. Block's next step is the OCC review: the company said Builders Bank will not commence operations unless and until it receives the required regulatory approvals.
Iran loosens part of its currency controls and allows more room for crypto in its international exchanges. According to the Financial Times, exporters can now use their foreign revenues to directly finance imports and resort to bitcoin or USDT for certain cross-border settlements. Nearly 9.9 billion dollars of crypto activity had already been attributed to Iran in 2025. The Iranian Central Bank has not publicly commented on these new rules.
In brief Iranian exporters have more freedom to use their foreign revenue. Bitcoin and USDT can be used for certain cross-border payments, according to the Financial Times. Four sanctioned Iranian exchanges accounted for 78% of the crypto volume attributed to the country in 2025. Crypto: Tehran gives more leeway to exporters The change first applies to currencies. Iranian companies can directly use part of their foreign revenues to finance their imports. They no longer necessarily have to sell these currencies first on the government platform at the official rate.
Crypto is among the possible channels. Bitcoin and especially USDT can be used to settle certain transactions via Iranian exchanges. This opening comes one month after Washington sanctioned Shelbit and Aban Tether, two platforms accused by the US Treasury of facilitating financial circuits linked to Iran.
This is not a general legalization of all crypto flows. Tehran is mainly seeking to more easily recover revenues generated abroad while access to international banks remains heavily restricted.
The Financial Times also reports that authorities are still investigating export revenues that have not been repatriated. The Central Bank has not responded to Cointelegraph about the details of the arrangement. This point matters: the use of Bitcoin and USDT is reported by the Financial Times, but no official detailed text from the Central Bank has yet been made public in the consulted sources.
Nearly 10 billion dollars circulated in crypto in 2025 Iran already starts from a significant base. TRM Labs estimates at 9.9 billion dollars the crypto volume attributed to the country in 2025. Nobitex, Bitpin, Wallex, and Ramzinex alone represented about 7.7 billion, or 78% of the total. The four platforms were sanctioned by the OFAC on June 2.
Nobitex dominates widely. The US Treasury estimates that the exchange processed more than half of Iranian digital asset inflows in 2025. Wallex accounted for about 12%, Bitpin 10%. Ramzinex has processed more than 2.45 billion dollars since its creation.
Connections with foreign platforms are also documented. TRM Labs says it traced 3.84 billion dollars of flows between CoinEx and sanctioned Iranian entities over more than seven years. About 2.7 billion concerns Nobitex.
The same report identifies nearly 67 million dollars from the Iranian Central Bank arriving at CoinEx addresses between June 2025 and June 2026. The movements reportedly used several blockchains and intermediate steps before reaching the exchange. CoinEx denies any business relationship with the Iranian government or local platforms.
The case goes beyond CoinEx. An investigation covered this summer by Cointribune also identified 676 million dollars of transfers between Shelbit and Binance. However, Reuters did not establish that all these funds were directly controlled by Iranian authorities. The amounts are high. The circuits are also numerous.
Washington now puts the entire Iranian crypto sector under pressure The United States has expanded its response. On August 24, the US Treasury officially added digital assets to Iranian sectors that can be subject to sanctions. The arrangement allows OFAC to target foreign individuals or companies operating in this sector or providing certain services to it.
Washington specifically cites crypto among the means used by Iran to move money outside traditional financial circuits. On the same day, the Treasury sanctioned Ivan Obukhov, a broker based in the United Arab Emirates. The administration claims he processed more than 100 million dollars in cryptocurrencies since 2023 to facilitate oil sales benefiting the IRGC Qods Force.
Sanctions had already begun to directly target exchanges. Nobitex, Wallex, Bitpin, and Ramzinex in June. Shelbit and Aban Tether in August. Bitcoin and stablecoins allow the transfer of funds without using a US correspondent bank. This does not make transactions invisible.
Public blockchains leave traces. Centralized exchanges also keep customer data, and stablecoin issuers can block certain addresses. This is especially true for USDT.
For foreign companies, the risk remains concrete. Cointribune had already detailed the exposure to sanctions of companies paying Iran in crypto, notably in maritime transport. Tehran is therefore opening its commercial circuits to digital assets more as Washington precisely expands its means to monitor them. No need to speculate further. In 2025, nearly 10 billion dollars had already circulated in the Iranian crypto ecosystem. The new rules now seek to make part of this infrastructure more useful for foreign trade.
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Lydie M.
Enseignante et ingénieure IT, Lydie découvre le Bitcoin en 2022 et plonge dans l’univers des cryptomonnaies. Elle vulgarise des sujets complexes, décrypte les enjeux du Web3 et défend une vision d’un futur numérique ouvert, inclusif et décentralisé.
DISCLAIMER
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.
Prosecutors in Mexico have charged two men with targeting the home of Jonathan Meléndez, keyboardist for the well-known indie band Camilo Séptimo, in a violent attack allegedly aimed at obtaining a cold wallet believed to contain millions of dollars in Bitcoin. The suspects are accused of murdering Meléndez, his pregnant wife, young daughter, and a domestic worker during the home invasion.
Targeted attack on musician’s familyAuthorities reported that the attack took place in Atizapán de Zaragoza, State of Mexico, on September 1. Meléndez, his wife Ana Paula Barragán, their three-year-old daughter Sofía, and 21-year-old domestic worker Aleyda Romero were found dead at the scene. The couple’s six-year-old son survived the incident.
Investigators stated that the suspects entered the residence with the intent to find a cold wallet, a type of secure storage device for cryptocurrencies, which they believed held “million-dollar amounts in Bitcoin.”
State prosecutors described that the suspects sought the family’s cold wallet, thinking it stored assets worth millions in Bitcoin, which led to the fatal attack.
Arrests and motives detailed by officialsOfficials arrested two men in connection with the crime. According to the prosecution, one of the men allegedly offered his accomplice 2 million pesos, approximately $118,000, as a reward for obtaining the cryptocurrency wallet during the home invasion.
State officials contend that the pursuit of high-value crypto holdings has grown increasingly dangerous, with violent tactics used by perpetrators seeking access to digital assets stored offline.
Camilo Séptimo, the band for which Meléndez played keyboards, is recognized for its fusion of alternative rock and electronic music, with a strong following across Latin America.
Rising trend in physical attacks on crypto holdersA report from blockchain analytics company Chainalysis highlighted an increase in violent crimes against cryptocurrency holders. By late June, Chainalysis had documented 46 violent attacks linked to digital assets in 2026 alone, with more than $30 million reported stolen. Home invasions accounted for 37% of these incidents, underscoring the risks faced by individuals holding significant crypto assets.
Earlier this year, two brothers from Texas pleaded guilty to a similar crime in which they held a Minnesota family at gunpoint for over eight hours, forcing the father to transfer more than $8 million in cryptocurrency.
Chainalysis reported that $30 million in crypto was stolen in the first half of 2026, with home invasions representing more than a third of all incidents targeting digital asset holders.
Such attacks demonstrate that cold wallets, while secure against online theft, cannot protect against physical threats, making personal security a growing concern for those holding large amounts of cryptocurrency assets.
Mini dictionary: Cold wallet — A cold wallet is an offline cryptocurrency storage device that holds the private keys required to access and transfer digital assets. Hardware wallets like Ledger, Trezor, and Coldcard are common examples. These wallets provide strong protection from online threats but can still be vulnerable to physical theft or attacks on the owner.
Law enforcement continues to warn digital asset holders to take additional personal security measures, especially as high-profile incidents draw further attention to the risks involved in storing substantial funds in cryptocurrencies.
Ripple CTO Emeritus David Schwartz has asserted that XRP is more likely to overtake Bitcoin in market capitalization through its own price surge rather than a decline in Bitcoin’s value. Schwartz made these remarks during a recent discussion on X Spaces, drawing rapid attention from XRP advocates and wider crypto observers.
Schwartz discusses XRP’s prospectsDuring the live X Space, moderator ILLY opened the conversation by sharing his view that XRP could one day surpass Bitcoin by market cap. Schwartz responded by highlighting the importance of understanding the underlying causes that might drive such a shift.
He addressed whether this transition would result from an increase in XRP’s price or a significant drop in Bitcoin’s value. Schwartz then clarified his perspective, noting that an independent rally in XRP presents a more plausible scenario.
It is more likely that XRP flips Bitcoin due to a surge in the price of XRP rather than the collapse of Bitcoin.
Schwartz further added, “I honestly have to say, I think XRP surging is probably more likely than not,” emphasizing his view that growth on XRP’s side would be the main factor behind any potential overtaking.
Industry expertise shapes opinionThe significance of Schwartz’s comments lies in his pivotal role as an architect of the XRP Ledger. As a key developer behind the underlying technology, his insights carry additional weight compared to broader community speculation.
In previous appearances, Schwartz argued that current XRP prices do not reflect its potential, though he avoided specifying targets or forecasts. He underlined that a scenario where XRP gains ground through active growth, rather than Bitcoin falling away, aligns more closely with how market leaders typically change position in other industries.
Examples offered during the discussion included the possibility that Bitcoin could see some setbacks as XRP closes the gap, but Schwartz continued to highlight the more likely scenario being a positive run for XRP itself. Community members reacted both with agreement and surprise at his public stance.
Community and market responseThe XRP community was quick to engage. Some participants viewed Schwartz’s comments as confirmation of long-held expectations. One commenter described the discussion as an important moment, noting the rarity of such direct statements from Schwartz.
Schwartz’s direct engagement with the question of whether XRP can overtake Bitcoin has sent a clear signal to many in the community.
Others remarked on the openness of the remarks, considering them a rare public endorsement of XRP’s long-term potential to outpace existing market leaders. Schwartz refrained from making aggressive predictions, maintaining instead that the XRP ecosystem has the foundation to mount a strong challenge in the evolving cryptocurrency landscape.
As market participants monitor technical breakout patterns and seek smarter methods to track changing sentiment, many are consolidating their workflows using privacy-focused tools. In a market where a single Fed decision or an unexpected altcoin listing can instantly transform the environment, using apps like CryptoAppsy allows traders to manage charts, set intelligent price alerts, read coin-specific news, and access macroeconomic data all in one interface, often without the need for an account.
The source and its impactDavid Schwartz’s experience spans years of direct involvement with Ripple and the design of the XRP Ledger. His willingness to publicly state that an XRP price surge remains the likeliest route to a market capitalization flip brought cautious optimism to sections of the community.
Analysts note that while many have speculated about a shift in the market cap hierarchy, such opinions from foundational figures in digital asset development tend to focus attention and spark debate across the industry. Schwartz’s remarks represent a technical vote of confidence in XRP’s future prospects, delivered by one of its core creators.
As countries around the world continue to regulate cryptocurrencies, taxation stands out as one of the most important issues.
The latest notable regulatory effort on this issue comes from Germany.
A New Era in Bitcoin and Cryptocurrency Earnings! Germany, one of Europe’s largest countries, is preparing comprehensive regulations to tax gains from cryptocurrencies, particularly Bitcoin and Ethereum.
According to BlockBeats, a draft prepared by the German Ministry of Finance plans to subject cryptocurrency gains to a flat tax of 25 percent, similar to stocks and other capital investments.
The draft legislation is not yet enacted and will be submitted to parliament for approval after a review process within the government.
One Year of Tax Exemption is Ending! Under the current system, gains made by individual investors from selling cryptocurrencies held for more than a year are exempt from tax. However, the ministry wants to abolish this exemption, and the new regulation proposes removing this exemption and classifying cryptocurrencies as capital gains.
At this point, the new system is planned to be applied to cryptocurrencies acquired on or after January 1, 2027.
The draft also envisages preserving some important advantages for investors. The current annual tax exemption limit of €1,000 ($1,170) is expected to remain in effect. Furthermore, according to the report, the draft text also includes a provision allowing crypto investment gains and losses to be offset against gains and losses from other securities such as stocks.
*This is not investment advice.
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PANews, September 10 – Coinbase announced that it has co-hosted a "Post-Quantum Bitcoin Workshop" at Stanford University with Stanford cryptography professor Dan Boneh and Localhost Research. The closed-door working meeting brought together Bitcoin developers, cryptography experts, researchers, institutional custodians, and hardware wallet experts, focusing on how Bitcoin can prepare in advance for the cryptographic risks posed by future quantum computing.
Participants assessed the progress of quantum computing development, the current state of post-quantum cryptography, and the applicability of different post-quantum signature schemes in Bitcoin. They also referenced Ethereum-related plans to discuss institutional custody needs, Bitcoin output types, and potential post-quantum protection solutions. Additionally, the meeting covered discussions on hardware wallet limitations, signature scheme selection, and protective measures for assets that may not be migrated in time.
Coinbase stated that it is currently impossible to accurately predict when a quantum computer capable of breaking existing cryptographic systems will emerge. Therefore, rather than predicting a specific timeline, it is more important to establish well-researched and tested response plans in advance. Participants believe that quantum computing does not yet pose an imminent crisis, but taking early action can allow sufficient time for technical research, testing, and ecosystem coordination.
Currently, multiple post-quantum security solutions have attracted attention, but no perfect solution or clear consensus exists. Different solutions involve trade-offs in security, transaction size, hardware performance, key management, and user adoption difficulty. Participants believe that Bitcoin's quantum resistance cannot rely solely on protocol upgrades; it also requires consideration of how individual users, institutional custodians, wallets, and hardware devices generate, store, back up, and migrate keys and assets.
Coinbase pointed out that Bitcoin's migration to a post-quantum security system is more likely to be an ongoing, phased process rather than a one-time event. As post-quantum cryptography continues to evolve, future solutions may undergo constant iteration. Therefore, Bitcoin needs to retain space for adopting more mature technologies while advancing security upgrades. This workshop did not attempt to determine a final technical solution but rather aimed to identify key issues and promote further research and engineering testing. The company plans to continue organizing relevant discussions among Bitcoin developers, cryptography experts, institutional custodians, and other ecosystem participants, driving the gradual transformation of post-quantum security research into fully validated practical solutions.
Apple unveils its iPhone 18 lineup today, September 9, at its “Surprise and Shine” event. The Wall Street Journal reports the iPhone 18 Pro is expected to start around $1,299, with the Pro Max around $1,399 in the US, both above last year’s Pro-tier pricing. Apple hasn’t confirmed official prices yet.
What That Costs in Crypto Today
With Bitcoin trading at $79,196.62 and Ethereum at $2,500.09, an estimated $1,299 iPhone 18 Pro would run about 0.0164 BTC or 0.52 ETH. The Pro Max, at an estimated $1,399, comes to roughly 0.0177 BTC or 0.56 ETH.
Breaking a Multi-Year Trend
According to CoinGecko research tracking iPhone launch prices against BTC and ETH since 2011, the amount of crypto needed to buy each new iPhone has fallen almost every year. The iPhone 4S required a staggering 162.25 BTC back in 2011. By last year’s iPhone 17, that number had shrunk to just 0.007 BTC, an almost uninterrupted decade-and-a-half decline as Bitcoin’s price climbed. Ethereum tells the same story: an iPhone cost 876.4 ETH in 2015, falling to just 0.18 ETH for the iPhone 17 last year.
This year looks different. Bitcoin’s price today sits well below where it was at last September’s iPhone launch, while Apple appears set to raise Pro-tier pricing by $150 to $200. Put those two forces together and the iPhone 18 Pro could require noticeably more Bitcoin than the iPhone 17 Pro did a year ago, a rare reversal after years of iPhones getting steadily cheaper in crypto terms.
Still Nothing Like 2011
Even with this year’s uptick, today’s price tag remains a tiny fraction of what early Bitcoin holders once paid. The gap between 162 BTC for a 2011 iPhone and roughly 0.016 BTC for a 2026 Pro model still reflects Bitcoin’s enormous rise in value over 15 years, this year’s move is a blip on an otherwise steep decline, not a reversal of the broader trend.
What’s Actually Launching Today
Beyond pricing, today’s event is expected to headline the iPhone 18 Pro and iPhone 18 Pro Max, both powered by Apple’s first 2-nanometer chip, the A20 Pro, alongside Apple’s first-ever foldable iPhone. Reports suggest the standard iPhone 18 and a budget iPhone 18e won’t arrive until spring 2027, splitting Apple’s usual single-launch calendar into two release windows for the first time in years.
Story Ends Here
Trust with CoinPedia:CoinPedia has been delivering accurate and timely cryptocurrency and blockchain updates since 2017. All content is created by our expert panel of analysts and journalists, following strict Editorial Guidelines based on E-E-A-T (Experience, Expertise, Authoritativeness, Trustworthiness). Every article is fact-checked against reputable sources to ensure accuracy, transparency, and reliability. Our review policy guarantees unbiased evaluations when recommending exchanges, platforms, or tools. We strive to provide timely updates about everything crypto & blockchain, right from startups to industry majors.
Investment Disclaimer:All opinions and insights shared represent the author's own views on current market conditions. Please do your own research before making investment decisions. Neither the writer nor the publication assumes responsibility for your financial choices.
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Bitcoin traded sideways around $78,000 as investors awaited key U.S. inflation data and the Federal Reserve’s upcoming policy decision.
Notable Statistics:
Coinglass data shows 83,668 traders were liquidated in the past 24 hours for $255.54 million. SoSoValue data shows net inflows of $174.6 million from spot Bitcoin ETFs on Monday. Spot Ethereum ETFs saw net inflows of $26.46 million. In the past 24 hours, top gainers include Venice Token, Aerodrome Finance and Injective. Notable Developments:
Robinhood Expands Prediction Markets Push With Crypto.com, OG DealWhy Bitcoin’s Structure Is Promising but $83,000 Remains the Key LevelBitcoin, Ethereum Are Set for a ‘Money Printing Bonanza,’ Arthur Hayes SaysBitmine Buys 28,086 ETH for $69.5 Million: Is $27 Next for BMNR?Forget XRP, Privacy Coins Are the 2026 Standout Trade—One Is Up 2,400%Strategy’s ‘We’re Back’ Bitcoin Buy Was a One-Week Thing: What’s Going On?Tesla’s 2021 Bitcoin Bet: What Is It Worth Today?CLARITY Act Is a ‘Powerful Package’ Ahead of Key Vote Next Week, Coinbase Exec SaysTrader Notes:
Daan Crypto Trades said Bitcoin rebounded strongly after a liquidity grab, but open interest remains elevated. He sees $79,000 as a key level that could trigger a short squeeze.
Benjamin Cowen noted Bitcoin pullbacks around golden crosses are normal.
The key signal is what follows, a higher high above the 50-week SMA could confirm the bear market is over, while rejection and a lower high could signal another Q4 low.
Trader exitpump expects Bitcoin to chop and slowly bleed until it reclaims $84,000, like 2023. They are targeting a long in the low-$77,000s and avoiding entries above $78,000.
Image: Shutterstock
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Market News and Data brought to you by Benzinga APIs
Leading cryptocurrencies fell on Tuesday as traders awaited key inflation data for clues on the Federal Reserve’s interest rate policy.
Crypto Market Sees Selling PressureBitcoin slid below $78,000 as trading volume jumped nearly 50% in the last 24 hours. Ethereum‘s advance stalled at $2,500, while Dogecoin fell sharply following Monday’s jump.
Cryptocurrency-related stocks also fell, with Strategy Inc. (NASDAQ:MSTR) and Bitmine Immersion Technologies Inc. (NYSE:BMNR) closing down 4.40% and 0.80%, respectively. Strategy made no Bitcoin purchases last week
More than $250 million was liquidated in the cryptocurrency market over the past 24 hours, including $163 million in long positions, according to Coinglass data.
Bitcoin’s open interest rose 0.70% in the last 24 hours to $53.45 billion. A rise in open interest combined with a falling spot price typically signals a short buildup, meaning new sellers are actively entering the market.
Market sentiment leaned toward “Greed,” according to the Crypto Fear & Greed Index.
Top Gainers (24 Hours)
The global cryptocurrency market capitalization stands at $2.70 trillion after declining 0.36% over the past 24 hours.
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Stocks Cool DownStocks started the holiday-shortened week in the red. The Dow Jones Industrial Average fell 628.18 points, or 1.18%, to close at 52,786.07. The S&P 500 declined 0.58% to end at 7,673.52, while the tech-focused Nasdaq Composite closed 0.32% lower at 26,421.41.
Trending
Key inflation data is due this week, with the producer price index out Thursday and the consumer price index on Friday.
Traders are currently pricing in a 59% chance of a rate cut at next week’s Federal Reserve policy meeting, according to the CME FedWatch tool.
‘Strong Bullish Signal’Ali Martinez, a widely followed cryptocurrency analyst and trader, said Bitcoin has reclaimed its “Warm Supply Realized Price,” interpreting it as a “strong bullish signal.”
The metric tracks the average acquisition price of Bitcoin that changed hands between a week and six months ago.
Martinez highlighted that the four prior major reclaims of this level preceded strong rallies, including 74% in October 2024 and 159% in October 2023.
On-chain analytics firm CryptoQuant noted that the Market Value to Realized Value indicator remains below Bitcoin’s 365-day moving average—a level that has historically marked a transition from “repair to expansion.”
CryptoQuant said reclaiming and holding the 365-day moving average remains a bull case, while a rejection at this level would signal weak aggregate profitability, keeping BTC in repair mode.
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Photo Courtesy: Sodel Vladyslav on Shutterstock.com
Iran is loosening its strict foreign exchange rules as U.S. sanctions make normal international payments harder. The new approach allows businesses to use Bitcoin, Tether, and other digital assets for cross-border trade.
This comes as the U.S. and other nations have frozen or blocked around $1 billion to $1.47 billion in Iranian-linked crypto assets to date.
Iran Is Turning to Bitcoin and USDTThe move comes as Iran faces severe pressure on its currency and access to international finance. The Iranian rial has fallen to more than 2 million per U.S. dollar in the open market, while inflation has climbed sharply.
Traditional correspondent banking channels have also become increasingly difficult to use under U.S. sanctions.
🚨IRAN EASES FX RULES AND TURNS TO CRYPTO!
The Financial Times said Tehran has quietly loosened foreign-exchange controls so companies can keep trading under sanctions.
Officials have been pushing firms to bring money home through several routes, including settling deals on… pic.twitter.com/qQuN8CFjYc
— Crypto Banter (@crypto_banter) September 9, 2026 That has pushed crypto into a bigger role. Roughly $10 billion worth of cryptocurrency moved through Iran in 2025, according to on-chain data cited in the reference material.
Iran also accounts for around 4.5% of global Bitcoin mining activity, according to blockchain analytics firm Elliptic.
Who Benefits Most From Iran’s Easier Crypto Rules?Iranian exporters and importers are likely to benefit the most. The Central Bank of Iran has eased controls around foreign currency, allowing exporters to bring overseas earnings back through domestic crypto exchanges.
Businesses can also use their export earnings directly to pay for imported raw materials and goods instead of first converting the money through the government-controlled foreign exchange system.
This gives businesses more freedom to move money without relying as heavily on traditional banking channels. Crypto can also make cross-border payments easier when access to international banks is limited.
Tether’s USDT could play an important role because it is tied to the U.S. dollar. For Iranian traders, this offers a more stable option than holding the rapidly weakening rial.
U.S. Sanctions Could Target the Crypto RouteThe easing comes as Washington is also increasing pressure on Iran’s digital asset sector.
U.S. Treasury Secretary Scott Bessent has warned that digital assets could become another target under the administration’s broader “Operation Economic Outcast.” In June, the Treasury also sanctioned Nobitex, Iran’s largest crypto exchange, accusing it of helping with sanctions evasion.
This creates a difficult balance for Iran.
Crypto can provide another route for trade when banks are blocked, but greater use of digital assets could also bring more attention from U.S. regulators and increase the risk of further sanctions on exchanges, banks, and intermediaries.
Story Ends Here
Trust with CoinPedia:CoinPedia has been delivering accurate and timely cryptocurrency and blockchain updates since 2017. All content is created by our expert panel of analysts and journalists, following strict Editorial Guidelines based on E-E-A-T (Experience, Expertise, Authoritativeness, Trustworthiness). Every article is fact-checked against reputable sources to ensure accuracy, transparency, and reliability. Our review policy guarantees unbiased evaluations when recommending exchanges, platforms, or tools. We strive to provide timely updates about everything crypto & blockchain, right from startups to industry majors.
Investment Disclaimer:All opinions and insights shared represent the author's own views on current market conditions. Please do your own research before making investment decisions. Neither the writer nor the publication assumes responsibility for your financial choices.
Sponsored and Advertisements:Sponsored content and affiliate links may appear on our site. Advertisements are marked clearly, and our editorial content remains entirely independent from our ad partners.
Iran’s central bank has officially authorized companies in the country to use Bitcoin and USDT for international trade. This move follows recent efforts by regulators to ease foreign exchange restrictions, enabling commercial entities to channel export revenues through domestic cryptocurrency platforms.
Official support and practical changesA senior business figure affiliated with government circles confirmed that the central bank no longer questions how funds are transferred, signaling an acceptance of digital assets for settling export payments. Receiving foreign income via cryptocurrency has become routine for Iranian exporters.
The banking authority has promoted the repatriation of capital held overseas, leveraging crypto platforms within Iran’s borders. This policy shift aims to support domestic companies amid ongoing economic sanctions and currency volatility.
Rising crypto activity and mining capacityDuring 2025, digital asset transactions totaling $10 billion passed through Iranian networks. Elliptic, a blockchain intelligence firm, reported that Iran accounted for about 4.5% of global Bitcoin mining capacity.
The Islamic Revolutionary Guard Corps utilizes government-subsidized electricity for mining operations, transforming energy resources into financial assets less susceptible to international restrictions. Local analysts claim this strategy helps the country counter the impact of sanctions.
Elliptic estimated Iran’s digital asset infrastructure at $7.8 billion in the past year. Blockchain addresses associated with the Revolutionary Guard accounted for nearly half of all recorded transactions in the last quarter of 2025.
Approximately $4.18 billion in digital assets left Iran through 2025, a 70% increase over the previous year. Most of these funds moved through the Nobitex platform, which has handled around $3.84 billion in transfers since 2019.
State interventions and market responsesConfidential records reviewed by Elliptic revealed that Iran’s central bank acquired $507 million in USDT. Authorities deployed these reserves to manage currency volatility and stabilize the rial, which has lost nearly 90% of its value amid ongoing sanctions and inflation.
As blockchain-based platforms reshape capital flows, investors are also adopting new infrastructure. While traditional markets rely on complex brokers, a major transition is underway as institutions and retail participants choose Web3 solutions. Platforms such as 1stepSwap allow users to hold shares of major American companies, gold, and silver directly in their crypto wallets. Tokenizing real-world assets and finding the best prices automatically, these platforms remove intermediaries from the process.
Cryptocurrency transactions totaling $10 billion moved through Iranian networks in 2025, while Elliptic calculates Iran’s share of global Bitcoin mining at 4.5%—making it a significant regional player in the sector.
US actions and sanctions escalationIn 2026, American authorities increased enforcement measures targeting Iranian crypto activity. In April, Operation Economic Fury led to the seizure of $344 million in USDT from a Tron wallet linked to Iran.
By June, the US Treasury had sanctioned four Iranian trading platforms: Nobitex, Wallex, Bitpin, and Ramzinex. Nobitex alone manages around half of Iran’s crypto transactions and reports 11 million registered users.
OFAC updated its sanctions list in July, adding four central bank-related crypto wallets holding $165 million in stablecoins. Tether disabled access to $131 million connected to these wallets after the changes.
In August, Treasury Secretary Janet Yellen classified digital assets as a sanctionable sector for Iran. US officials also targeted a Ukrainian intermediary accused of facilitating over $100 million in crypto-based petroleum deals for the Revolutionary Guard.
Iran reportedly uses cryptocurrency channels not only for oil sales and military equipment payments, but also for collecting transit fees from vessels passing through the Strait of Hormuz. Domestic data shows roughly 20,000 individuals and companies still have not returned 94 billion euros in export earnings to the country, and an additional $100 billion remains undeclared inside Iran.
US authorities continue to collaborate with blockchain analytics firms like Chainalysis and Elliptic in efforts to identify, freeze, or seize digital wallets linked to sanctioned Iranian entities. Altogether, US enforcement actions have immobilized or confiscated more than $1 billion in Iranian crypto holdings during 2026.
Iran has reportedly changed its foreign-exchange framework to give companies more options for bringing export income back into the country, with the new arrangements permitting digital assets in international payments amid tighter US sanctions.
According to a Wednesday report from the Financial Times, Iranian businesses can now use Bitcoin (BTC) and Tether’s USDt (USDT) to pay overseas counterparties, with transactions processed through domestic crypto exchanges.
Exporters have also gained more control over money they earn outside Iran. Rather than sending those proceeds through the state-run exchange system and converting them at government-set rates, companies can put the funds directly toward their own import costs.
US Targets Iranian Crypto Assets and Exchanges Washington has meanwhile targeted Iranian activity in the crypto sector through measures covering both trading platforms and digital assets. In early June, the Treasury sanctioned four Iranian crypto exchanges under its “Economic Fury” campaign.
Treasury Secretary Scott Bessent said shortly before those sanctions were unveiled that the United States had gained control of Iranian digital assets valued at approximately $1 billion.
Bessent announced another action on July 14, saying US authorities had directed the freezing of crypto worth more than $130 million in wallets connected to Iran’s central bank.
Separate blockchain research has also revealed the extent of crypto activity involving sanctioned Iranian parties. TRM Labs said in June that transactions linking CoinEx to sanctioned Iranian entities totaled more than $3.8 billion over more than seven years.
CoinEx disputed suggestions that it maintained business ties with the Iranian state or crypto trading platforms based in the country. The exchange also said it had not helped sanctioned entities obtain financing.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
Iran's central bank has reportedly eased foreign currency controls to encourage businesses to bring overseas earnings home, including through cryptocurrency, amid tightening US sanctions. This includes using Tether's USDt ($USDT) and $BTC to settle cross-border transactions through Iranian cryptocurrency exchanges, according to the Financial Times.
Under the new arrangement, exporters can fund imports with overseas earnings without first selling their foreign currency at official government rates. USDT is reportedly the most commonly used cryptocurrency for Iranian cross-border commercial payments.
A Widening Crack in Sanctions EnforcementThe shift comes as US authorities have intensified pressure on Iran's financial networks. Operation Economic Fury, the Treasury Department's sanctions campaign targeting Iran's crypto-based financial infrastructure, had resulted in cumulative seizures of approximately $1 billion in Iranian crypto assets as of late May 2026. The campaign sanctioned four Iranian crypto exchanges in early June 2026 and has included a freeze of over $130 million on wallets linked directly to Iran's central bank.
Separately, Tether froze $344 million in USDT linked to sanctioned Iranian wallets during an April 2026 enforcement action. Blockchain intelligence firm TRM Labs attributed approximately $9.9 billion in cryptocurrency volume to Iran during 2025, down from roughly $11.4 billion recorded in 2024.
The CoinEx ConnectionTRM Labs said CoinEx served as a gateway for the crypto sector in Iran, having traced more than $3.84 billion in flows between the exchange and sanctioned Iranian entities over the last seven years. TRM Labs said CoinEx became the single biggest trading partner of Iran's largest crypto exchange, Nobitex, which accounted for around $2.7 billion of those flows.
CoinEx denied having any commercial relationship with Iranian exchanges or government entities, saying it has begun exiting Iran-related business. The exchange further stated that it was blacklisted by the Iranian government in 2021 and has never established an operating entity in the country.
The broader picture points to a structural shift in how sanctioned economies interact with global financial markets. TRM said the sustained volume of Iranian crypto activity reflected structural demand rather than purely speculative trading. With Tehran now formally tolerating crypto for trade settlement, the gap between sanctions policy and enforcement on-chain appears to be growing.
Sources:
Cointelegraph: Iran Eases Currency Controls as Traders Use Crypto
The Block: CoinEx processed $3.8 billion in Iran-linked funds, TRM Labs
Crypto.news: Iran turns to crypto for export payments amid sanctions
İran, ABD yaptırımları ve savaş nedeniyle küresel finans sisteminden uzaklaşırken ticareti sürdürebilmek için kripto paralara daha fazla yöneliyor. Ülkedeki yetkililer, ihracatçıların paralarını ülkeye geri getirmelerini kolaylaştırmak için döviz kurallarındaki denetimi gevşetti.
Bu süreçte özellikle Tether (USDT) ve Bitcoin, sınır ötesi ödemelerde daha fazla kullanılmaya başladı. Peki İran neden kriptoya ihtiyaç duyuyor?
İran Neden Kripto Kullanıyor? İranlı ihracatçıların elde ettikleri dövizi ülkeye getirerek devletin belirlediği sistem üzerinden bozdurmaları gerekiyordu. Ancak resmi kurların piyasa fiyatlarının altında kalması, bazı şirketlerin gelirlerini yurt dışında tutmasına yol açtı.
Son dönemde kuralların gevşetilmesiyle ihracatçılar, elde ettikleri gelirleri doğrudan ithalat finansmanında kullanabiliyor. Kripto para da sınır ötesi ticarette kullanılan alternatif kanallardan biri haline geldi.
İran Ticarette Neden USDT Kullanıyor? İran’daki şirketlerin işlemlerinde özellikle USDT öne çıkıyor. ABD dolarına sabitlenmeye çalışan bu stablecoin, geleneksel bankacılık sisteminin dışında sınır ötesi transferlerde kullanılabiliyor.
İranlı bir yönetici, ihracat karşılığında kripto para alınmasının artık yerleşik bir uygulama haline geldiğini söyledi. İran Merkez Bankası ise konuya ilişkin yorum yapmadı.
İran’da Ne Kadar Kripto Para Kullanılıyor? TRM Labs verilerine göre 2025 yılında İran üzerinden yaklaşık 10 milyar dolarlık kripto para hareketi gerçekleşti.
Bu rakam, kriptonun ülkede yalnızca yatırım amacıyla kullanılmadığını gösteriyor. Küresel ödeme sistemlerinden uzun süredir dışlanan İran’da kripto, ticaret ve para transferleri için alternatif bir araç haline geliyor.
ABD İran’ın Kripto Kullanımını Engelleyebilir mi? Washington ise bu kullanımı yaptırımları aşma girişimi olarak değerlendiriyor. ABD Hazine Bakanlığı, İran’ın kriptoyu yaptırımlardan kaçınmak için giderek daha fazla kullandığını belirtti.
Tether da nisan ayında İran Merkez Bankası ile bağlantılı olduğu tespit edilen cüzdanlarda 344 milyon dolarlık USDT’yi dondurdu.
Buna rağmen İran’da kripto kullanımının sürdüğü görülüyor.
İran Bitcoin Madenciliğini de Kullanıyor İran’ın kripto hamlesi yalnızca transferlerle sınırlı değil. Elliptic’e göre küresel Bitcoin madenciliğinin yaklaşık %4,5’i İran’da gerçekleşiyor.
Ülkede üretilen Bitcoin ve diğer kripto varlıklar, ithalat ödemeleri ve uluslararası ticarette kullanılabiliyor.
İran’ın kriptoya yönelmesi böylece tek bir şirketin veya yatırımcının tercihi olmaktan çıkıyor. Yaptırımlar altında çalışan bir ekonominin geleneksel finans kanallarına alternatif arayışına dönüşüyor.
Ancak ABD’nin kripto işlemlerine yönelik baskısı devam ederken, İran’ın Tether ve Bitcoin üzerinden oluşturduğu bu alternatif ödeme sistemini ne kadar süre kullanabileceği önümüzdeki dönemin asıl sorularından biri olacak.
Bu içerik genel piyasa verilerine dayanır ve yatırım tavsiyesi değildir. Kendi araştırmanızı yapmanızı öneririz.
Son Dakika kripto para haberleri için hemen tıkla.
Konu ile ilgili yorumlarınızı bize yazabilirsiniz. Ayrıca, bu tarz bilgilendirici içeriklerin devamının gelmesini isterseniz, bizleri Telegram, Youtube ve Twitter kanallarımızdan takip edebilirsiniz.
Iran has started allowing exporters to receive payments in cryptocurrency, including USDT and Bitcoin, as businesses face increasing difficulty accessing traditional banking channels due to intensified US sanctions. Iranian companies can now process cross-border transactions using digital assets, with USDT emerging as the most common choice for trade payments.
USDT gains popularity in Iranian tradeMarket participants state that receiving export payments in cryptocurrency has become a normal practice among Iranian exporters, particularly as sanctions cut the nation off from conventional international financial networks. USDT, issued by Tether, is favored because its value is pegged to the US dollar, reducing the risk of wild price fluctuations during transactions.
For accounts settled in USDT, the equivalence to the dollar means a company expecting $500,000 can generally anticipate that sum will retain its value by the time it is converted. In contrast, Bitcoin’s price volatility poses a risk for international trade, where price certainty is essential. Many businesses are choosing stablecoins over more unpredictable cryptocurrencies for this reason.
By combining the global reach of blockchain technology with the stability of established currencies, stablecoins offer an advantage for firms restricted from using the dollar through normal banking systems. This practical utility has made USDT one of the leading real-world applications for cryptocurrency in cross-border commerce.
Mini dictionary: Tether (USDT) is a stablecoin, a type of cryptocurrency designed to maintain a consistent value by being pegged to a fiat currency such as the US dollar. Tether is issued by the Hong Kong-based company Tether Limited.
Limits to crypto’s reach in Iran’s economyDespite these benefits, using USDT and other cryptocurrencies does not provide complete freedom for Iranian businesses. Tether retains the authority to freeze digital wallets associated with specific addresses, and blockchain-based payments are subject to monitoring. US authorities have also acted against crypto exchanges and networks involved in sanctions evasion linked to Iran.
The country’s domestic banking network continues to function within Iran, handling local settlements, payment of wages, and daily transactions in rials. However, international bank transfers remain highly restricted, leaving a gap that digital currencies can partially address. Cryptocurrency transactions allow exporters to bypass some obstacles, enabling payments without holding accounts at international banks.
Still, crypto is not a wholesale substitute for Iran’s banking sector. Exporters require access to local banks for essential services, and many logistics partners, insurance firms, and foreign suppliers remain dependent on the existing global financial system.
Iran reportedly processed $10 billion in crypto transactions during 2025, establishing digital assets as an alternative, but not a replacement, for the core functions fulfilled by traditional banking in the national economy.
Instead, cryptocurrencies provide one supplemental channel for cross-border payments amid restricted access to international finance. Domestic banking infrastructure remains indispensable for credit, deposits, and the broader needs of the Iranian economy.
The crypto community remains divided over whether Iran can genuinely bypass financial restrictions with digital assets. Some users argue that tokenized Bitcoin could theoretically underpin not just payments but also decentralized voting systems, potentially offering new tools to citizens and businesses facing local institutional barriers.
Others highlight the limitations of relying on stablecoins like USDT, noting that Tether can freeze funds at any time. One participant pointed out that Bitcoin’s fully decentralized nature distinguishes it from tokenized forms subject to central control, giving users greater freedom in choosing which transactions to accept during periods of conflict or political pressure.
Another perspective questions whether USDT ownership alone is sufficient if counterparties are unwilling to exchange stablecoins for local currency or goods, since these exchanges still take place in the regulated, real-world economy.
A notable viewpoint emphasized that the ability to hold USDT does not guarantee unrestricted commerce, as those facilitating conversion into rials or tangible goods may remain traceable within existing regulatory frameworks.
Crypto market reaction to geopolitical developmentsMeanwhile, geopolitical tensions have not dampened demand for digital assets, with both Bitcoin and XRP seeing price increases after Iran’s Islamic Revolutionary Guard Corps announced claims of a missile strike targeting Amazon’s data infrastructure in Bahrain.
The events highlight the complex role cryptocurrencies play in countries subject to international sanctions, offering both new opportunities and persistent regulatory risks for participants.
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
SpaceX's intraday decline widens to 5%, currently trading at $146.
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The U.S. Treasury Department said it will purchase between $40 billion and $60 billion in long-term government debt in the first operation of its expanded repurchase program, demonstrating Secretary Bessent’s resolve to curb the recent rise in borrowing costs. U.S. Treasuries extended their earlier decline following the announcement, indicating the program’s size fell short of some investors’ expectations. The success of the expanded purchase program remains to be seen. After the program was first announced last month, yields fell before rebounding later. The benchmark 10-year yield hit its highest level since 2023 last week. Economist Guha, a former staffer at the New York Fed, noted: “The challenge always lies in whether the impact of these interventions can persist without larger fundamental changes.” Moreover, the maximum size of the repurchase operation does not mean the Treasury will necessarily purchase that amount of Treasuries. However, in repurchases targeting long-term nominal debt, the department typically buys the full amount; since the program was relaunched in 2024, it has only failed to do so in two of 52 such operations. (Jinshi)
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Solana ecosystem full on-chain prediction market World announced that its independent platform World.xyz has officially launched, with over 1 million users on its waitlist. The platform offers thousands of markets spanning sports, cryptocurrency, politics, finance, economics, and culture, covering all NFL regular seasons, 7 soccer leagues, F1 races, the 2026 U.S. midterm elections, and Federal Reserve interest rate decisions. Since integrating Phantom in July, World has launched more than 150,000 markets. Each market on the platform consists of "Yes" and "No" contracts, priced between $0 and $1, and settled using Phantom’s U.S. dollar stablecoin CASH. Technically, World leverages Chainlink Data Streams and Chainlink Runtime Environment to provide market data and automated settlements, reducing manual intervention and dispute resolution wait times. Prediction markets for stock price movements, gold, silver, oil, natural gas, computing power, and weather will be rolled out sequentially.
