Author: TechFlow
Yesterday's market dynamics
The number of initial jobless claims in the United States for the week ending September 13 was 231,000, while the expected number was 240,000.
According to Jinshi Data, the number of initial jobless claims in the United States in the week ending September 13 was 231,000, compared with the previous value of 26.3 and the expected value of 24.
Brian Quintenz's nomination process has stalled, and the White House is considering more new candidates for CFTC Chairman.
With Brian Quintenz’s confirmation process as chairman of the U.S. Commodity Futures Trading Commission (CFTC) stalled, the White House is considering more candidates to lead the regulatory agency, Bloomberg reported.
Discussions about a new round of potential candidates for the CFTC chairmanship have intensified in recent weeks, according to people familiar with the matter. Possible contenders include government officials focused on cryptocurrency policy.
BNB breaks through $1,000, setting a new all-time high
Binance market data shows that BNB has broken through $1,000 and is now trading at $999.98, setting a new historical high and increasing by 4.69% on the day.
SBF 's X account appears to have unusual activity, following a large number of users.
According to the monitoring of X account, SBF's X account is suspected to have unusual movements and is following a large number of users. Perhaps affected by this, FTT broke through 1 USDT and is now reported at 1.17 USDT, with a 1H increase of 48%.
Plasma will launch its TGE on September 25th
Plasma officially announced that its mainnet beta version will be officially launched at 8:00 AM (EST) on September 25, 2025, and its native token XPL will be released at the same time. It is worth noting that:
$2 billion in stablecoin liquidity will be available on the first day, making it the eighth largest blockchain in stablecoin liquidity.
XPL token distribution will be carried out in two batches:
Non-US participants will receive an allocation at the Mainnet Beta launch
U.S. participants will receive their allocation on July 28, 2026 (12 months after the public offering closes).
The platform will reserve 2.5 million XPL tokens for members of the Stablecoin Collective
OG members will receive 30,000 XPL
Stablecoin Collective contributors receive 15,000 XPL
Early contributors will receive 7,500 XPL
Monad launches Momentum, an incentive program for ecosystem projects. The first round of applications closes on September 28th.
Monad has announced the launch of Monad Momentum, its ecosystem incentive program, with the first round of applications closing on September 28th. The Monad Momentum program utilizes an incentive-driven matching model, meaning project recipients participate, with teams initially investing their own resources, supplemented by Monad Momentum. To qualify, teams must demonstrate a strong track record of delivering high-quality products, extensive experience, efficient capital allocation, and measures to combat gaming practices.
NBA Star Tristan Thompson to Partner with Somnia to Launch Player Tokenization Platform Basketball.fun
According to CoinDesk, NBA star Tristan Thompson has partnered with Improbable CEO Herman Narula and co-founder Hadi Teherany to launch a Web3 basketball fan experience (player tokenization) platform called basketball.fun in October.
Built on Somnia, a layer-one blockchain that launched on September 2nd, the platform will tokenize NBA players, with their value fluctuating in real time based on sentiment and performance. Fans can build rosters, speculate on emerging talent, and earn rewards based on predictions and engagement.
Teherany said the app will not launch a native token, but will instead focus on infrastructure, gamification, and fan empowerment.
NBA star Kevin Durant bought Bitcoin from Coinbase but hasn't sold it yet because he forgot his password
According to EssentiallySports, NBA star Durant's agent Rich Kleiman revealed at an event with Durant that he had helped Durant buy Bitcoin in 2015, but because he forgot the account password, the Bitcoin still remains in Durant's account.
Rich Kleiman said: "After joining the Warriors, Durant attended the birthday dinner of the founder of a16z, who encouraged him to buy Bitcoin. He then created a Coinbase account. The problem now is that he has forgotten his password. Fortunately, he has not sold those Bitcoins until now, and the price of Bitcoin is still soaring."
Jia Yueting: The US SEC has approved a simplified listing process for crypto ETFs , opening the door for assets like Solana
In response to the US SEC's approval of universal ETF listing standards, Faraday Future founder Jia Yueting wrote, "The SEC has taken a historic step: spot cryptocurrency ETFs other than BTC/ETH now have a streamlined 75-day listing path, opening the door for assets like Solana. The regulatory framework is catching up with the strategy that forward-thinking corporate finance departments have already begun implementing: making diversified digital assets a core component of their balance sheets."
Nvidia to acquire $5 billion of Intel shares at $23.28 per share
Nvidia will invest $5 billion in Intel at a price of $23.28 per share. Intel's US stock price surged in pre-market trading, rising over 20%. Nvidia and Intel announced their partnership on September 18th. In the data center sector, Intel will customize x86 CPUs for Nvidia, which will be integrated into its AI infrastructure platform and commercially available. In the personal computing sector, Intel will manufacture and supply x86 system-on-chips (SoCs) integrated with Nvidia's RTX GPUs.
Decentralized exchange GRVT completes $19 million Series A funding round, led by ZKsync and Further Ventures
According to CoinDesk, GRVT, a hybrid decentralized exchange based on ZKsync, announced the completion of a $19 million Series A funding round. This round of financing was co-led by GRVT's technical partner ZKsync and Further Ventures, an investment company backed by the Abu Dhabi Sovereign Wealth Fund.
It is reported that the GRVT mainnet Alpha version will be officially launched on the Ethereum second-layer network ZKsync at the end of 2024. As a hybrid decentralized exchange, GRVT aims to combine the high performance of centralized exchanges with the security and transparency advantages of decentralized exchanges to provide users with a better trading experience.
GRVT plans to use the new funds to expand its product services, including cross-exchange vaults, cross-chain interoperability, options markets, real assets, and more.
Market Dynamics
Recommended Reading
Cash Flow Valuation HyperLiquid: Could $HYPE's True Value Reach $385?
This article describes HyperLiquid, a decentralized crypto exchange platform whose unique support fund mechanism returns 93% of trading fees directly to token holders, making the $HYPE token suitable for discounted cash flow (DCF) valuation. The article provides a detailed analysis of $HYPE's cost of capital, market-implied price, and future growth potential, suggesting that the token's intrinsic value could be significantly higher than its current market price under various bull market scenarios. The article also explores the potential value-added role of the USDH stablecoin and other value drivers.
Deconstructing STBL: Stablecoin + NFT Income Rights, Gimmick or Innovation?
This article discusses a new stablecoin solution proposed by STBL, which mints stablecoins by fully collateralizing real-world assets (RWAs) while allowing users to retain returns on their assets. STBL's three-token design includes a governance token, $STBL, and two primary instruments: the fully collateralized stablecoin $USST and the yield-generating NFT $YLD. As the stablecoin market continues to expand, STBL offers a more transparent and predictable cash flow alternative through on-chain tokenized treasury bonds and other RWAs.
On-chain AI trench observation: Narrative shift, who will be the next hot topic?
This article provides an in-depth analysis of the latest trends and developments in the on-chain AI ecosystem, including shifting market sentiment, narrative shifts, investment opportunities, and future directions. It explores the evolution of the AI agent ecosystem from hype to productization, focusing on key innovations and challenges in areas such as decentralized AI, DeFAI, and predictive AI.
Opinion: The GENIUS Act is already law, banks shouldn't try to rewrite it now
This article discusses the GENIUS Act, which has become law and aims to strengthen consumer protection, ensure regulatory oversight, and maintain financial stability. Traditional financial institutions should actively embrace competition rather than suppress emerging businesses through anti-innovation measures. There is no statistically significant relationship between stablecoin adoption and the loss of community bank deposits. Stablecoin reserves remain in the traditional financial system, supporting broad liquidity and credit. Stablecoins are an innovation that protects the stability of the banking system and provides a competitive advantage. Policymakers should adhere to a bipartisan framework to promote further development in the financial sector.
This article analyzes the performance of major assets over the past decade (2015-2025), including Bitcoin (BTC), Ethereum (ETH), gold, the S&P 500 Index, and U.S. Treasuries. It explores the return and risk characteristics of these assets, summarizes their performance across different macroeconomic cycles, and offers strategic recommendations for building portfolios.
