Bitpush editors handpick the following Web3 news for you every day:
[ The Federal Reserve will hold a payment innovation conference next month to discuss stablecoins, artificial intelligence, and tokenization]
The Federal Reserve will hold a payment innovation conference on October 21. Topics will include stablecoins, artificial intelligence, and tokenization.
Bitcoin's dominance drops to 55%, with signs of Altcoin rotation emerging.
According to The Block data and insights report, Bitcoin's share of the crypto market has dropped from a peak of 62% to 55%, indicating that the market is entering the early stages of capital rotation from Bitcoin to Altcoin.
Ethereum (ETH) and Solana (SOL) are attracting renewed attention from both institutional and retail investors. Meanwhile, multiple digital asset treasuries are raising funds and purchasing assets through publicly traded entities, supporting a potential rally in Altcoin. The report indicates that if the market continues to favor riskier assets, Altcoin have room for further growth in Q4. However, the key lies in whether genuine physical demand can be generated, rather than relying solely on short-term rallies driven by derivatives.
Polymarket , a prediction market, has received CFTC approval to return to the US market.
Following the closure of the U.S. Commodity Futures Trading Commission (CFTC) investigation, the crypto prediction market platform Polymarket received a joint "no action" letter from the CFTC's Division of Market Regulation and Division of Clearing and Risk, allowing it to re-enter the U.S. market under certain conditions. CEO Shayne Coplan stated at X that the approval process was completed in record time.
【 Federal Reserve Beige Book: Most jurisdictions report that the economy is stagnant】
The Federal Reserve's Beige Book report showed that economic activity in most Federal Reserve districts was little changed or unchanged since the previous report, with four districts reporting modest growth. Ten districts reported moderate or modest price increases.
SUI Group Holdings: SUI Token Holdings Value Exceeds $300 Million
Nasdaq-listed SUI Group Holdings announced that the total value of its SUI token holdings has surpassed $300 million. The company recently added approximately 20 million SUU tokens, bringing its total holdings to 101.7 million, valued at approximately $344 million at current prices (SUI's price rose nearly 5% to $3.38 as of 12:36 PM ET on September 3).
Stephen Mackintosh, chief investment officer of SUI Group, said the company will continue to seek capital increases to purchase more locked-up SUI tokens at a discount, thereby "increasing the SUI content per share and creating value for shareholders."
The SUI Group, formerly known as Mill City Ventures, has reached an agreement with the Sui Foundation to acquire tokens directly at a discounted price. The company established its position as the official SUI treasury by completing a $450 million private placement. The company currently holds approximately $58 million in cash, which can be used to purchase further SUI tokens.
Trump's eldest son: American Bitcoin will establish the largest Bitcoin reserve in the United States
Donald Trump Jr., the president's eldest son, posted on the X platform that he was honored to see American Bitcoins go public. He added that the company will build the largest Bitcoin reserve in the United States and restore transparency, accountability, and trust to the U.S. financial system. "A new era for Bitcoin in the United States begins now," he added.
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