crypto

According to POLITICO Pro, U.S. President Trump held a closed-door meeting with advisors on Friday regarding the ethical provisions for government officials in the Senate's proposed cryptocurrency bill, the Clarity Act. The bill is set for a crucial procedural vote in the Senate next Tuesday, with Senate Democrats demanding the inclusion of ethical constraints applicable to government officials to limit Trump's ability to profit from his family's cryptocurrency business. It is currently unclear who attended the meeting with Trump and what the conclusions were.Trump's senior cryptocurrency policy advisor Patrick Witt posted a positive signal on X on Saturday, stating, "Today is a bad day for the naysayers of the Clarity Act."The ethical provisions have been one of the key obstacles the Clarity Act faces in the Senate, with significant bipartisan disagreements over whether enforcement authority should be led by the Department of Justice or state attorneys general. The procedural vote next Tuesday will test whether the two parties can reach a compromise on this core dispute before the Senate recesses.

The new regulations from the Central Bank of Brazil require virtual asset service providers to meet compliance requirements related to capital, auditing, anti-money laundering, and ongoing reporting, with capital requirements reaching up to 37.2 million reais, approximately 7.2 million US dollars. Currently, among about 300 related institutions, only 20 to 25 may meet the conditions to apply for authorization, and it is expected that only 10 will obtain licenses.Some small platforms have ended or restructured their retail operations, including Bitnuvem, NovaDAX, Digitra, and Coinext, but these platforms did not attribute their decisions to the new regulations. Institutions that fail to meet the requirements will also face ongoing compliance costs, and some businesses may struggle to maintain operations. Related institutions must apply for authorization by October 30, and those that do not apply will cease operations within 30 days and notify customers.Isabel Longhi, Head of Public and Regulatory Policy for Ripple Latin America, stated that market consolidation is expected to occur as the Brazilian crypto market matures, but the new regulations will limit innovation in the short term.

According to Coinglass data, the cryptocurrency Fear and Greed Index is currently at 60, down 2 points from yesterday. The average over the past 7 days is 65, and the average over the past 30 days is 62.

Cointelegraph reported that Morgan Stanley set a target price of $250 for Coinbase, implying an upside potential of about 43%, as its business expands beyond cryptocurrency.

BitMine Chairman Tom Lee stated that the cryptocurrency market will enter an extremely bullish phase in the next 12 months. He believes that the market experienced over $19 billion in leveraged position liquidations on October 10 last year due to the U.S. threatening to impose a 100% tariff on China, and a large amount of borrowed funds has been cleared, suggesting that the bottom of the cryptocurrency market's four-year cycle may appear next month.Tom Lee is also optimistic about the long-term opportunities brought by asset tokenization. He estimates that if $100 trillion in assets migrate on-chain in the future and generate 1% in revenue, it could produce about $1.1 trillion in annual revenue, corresponding to a market opportunity of about $20 trillion based on traditional business valuations.However, BitMine currently holds 5.93 million ETH, with related positions showing a paper loss of about $5 billion. Fundstrat has continuously advised clients to allocate 2% of their portfolios to cryptocurrency assets over the past decade; Tom Lee stated that in the accounts of clients who adopted this advice, cryptocurrency assets currently account for over 85% of their portfolios.

The head of research at digital asset management company Grayscale, Zach Pandl, stated in an analysis that even if Congress fails to pass the CLARITY Act this year, U.S. crypto regulation can still advance in areas such as stablecoins, token issuance, tokenized securities, and perpetual futures.U.S. President Donald Trump signed the GENIUS Act on July 18, 2025, establishing a regulatory framework for the issuance of payment stablecoins. The act requires issuers to provide sufficient reserves and publicly disclose the composition of reserves monthly, prohibiting misleading claims that tokens are federally insured, backed by the U.S. government, or considered legal tender. The U.S. Securities and Exchange Commission (SEC) proposed Regulation Crypto Assets, which aims to allow eligible projects to raise no more than $5 million over four years, or no more than $75 million every 12 months. Relevant exemptions and investment contract safe harbors are still in the proposal stage, with the public comment submission deadline set for October 20.The recent procedural milestone for the CLARITY Act was the termination debate vote on the motion to advance held on September 15, which requires 60 votes to pass and is not the final vote. Grayscale stated that the act would still help clarify the division of regulatory authority between the SEC and the Commodity Futures Trading Commission (CFTC), but its failure to pass would not halt the regulatory measures already in progress.

According to Bitcoin News, the Chief Technology Officer of BlueWallet stated that they screened 904 iOS applications labeled as non-custodial cryptocurrency wallets in the App Store and analyzed 494 of them, ultimately marking 45 as potentially having serious or high-risk security issues, with 23 being of potential serious risk and 22 being high risk.The issues mainly include suspected uploading of mnemonic phrases or private keys to servers, insufficient randomness in generated wallets, storing keys on the server side, using hard-coded encryption keys, and loading unsigned JavaScript code that can interact with sensitive wallet data. The Chief Technology Officer of BlueWallet cautioned that the analysis results may contain false positives, and applications not appearing on the list are not necessarily safe. When it comes to storing large amounts of Bitcoin, merely passing the App Store review and the application's reputation are not sufficient grounds to trust the software.

CryptoQuant Research Director Julio Moreno stated that after Bitcoin rose 24% in two weeks, it is currently facing temporary resistance, fluctuating in the range of $76,000 to $82,000. Its overall trend remains bullish, but it needs to break through the 365-day moving average located around $81,700 to confirm a new bull market; if it fails to break through, the price may continue to maintain a range-bound oscillation.On-chain data shows that the current nearest and most significant supply resistance zone is between $77,100 and $80,200, where long-term holders have sold up to 539,000 BTC in the past 30 days. Subsequent resistance levels are at $83,600 and $88,700, with $88,700 historically being a point where active traders often take profits. If Bitcoin turns downward, the 200-day moving average near $70,000 may provide support; another support range is between $62,000 and $65,000, where long-term holders have accumulated approximately 476,000 BTC this year.

The cryptocurrency brokerage platform Cascade (formerly Perennial) has announced its closure. The platform has spent the past 5 years dedicated to creating the next generation of modern brokerage experiences, a unified platform aimed at the global market, built around 24/7 access and unlimited availability.Cascade stated that this was not an easy decision and expressed gratitude to its supporters over the years. Cascade has now ceased operations. Users can withdraw remaining funds in Cascade (CLS+trading) through the officially designated link (logged in via Privy Home); please use only that designated link and refer to the official verification information for confirmation.

According to NBC, North Korea is utilizing remote IT workers from third countries such as Iran and Lebanon to assist in infiltrating American companies and obtaining funds to finance its weapons programs. Alerts issued by the U.S. and several foreign agencies in July indicated that North Korean IT workers "seek to sign contracts with the intention of remitting salaries back to relevant North Korean agencies," while also posing internal threats to companies, involving data leaks, cryptocurrency theft, and sensitive information theft.As governments like the United States increase countermeasures, North Korea is increasingly leveraging third-country IT workers to secure job interviews, and after obtaining work contracts, the relevant positions are typically taken over by North Korean agents. Reports indicate that these foreign IT workers are scouted on LinkedIn, with some earning about $500 per month in cryptocurrency to work part-time as "interview assistants."Cointelegraph reported in May, citing data from cybersecurity company CrowdStrike, that state-affiliated North Korean hackers and threat actors caused cryptocurrency losses exceeding $2 billion in 2025, a 51% increase year-on-year. The Bank of Korea estimates that despite facing global sanctions, North Korea's GDP will still grow by 3.5% in 2025.

CoinDesk cites the opinion of Tom Lee, co-founder and chief investment officer of Fundstrat Global Advisors, stating that the cryptocurrency market will be "very bullish" in the next 12 months.Tom Lee indicated that the excess leverage was cleared out last October, and the four-year cycle will bottom out next month.

According to the Daily Telegraph, the Reform Party in the UK received a second donation of £36 million within 48 hours. The party's largest donor, cryptocurrency billionaire Christopher Harborne, added another £36 million, matching the amount donated by Ben Delo on Friday, bringing the total raised by the Reform Party to £72 million in two days. The Reform Party has raised over £86 million this year, far exceeding the Conservative Party's £10.2 million and the Labour Party's £7.7 million.

The U.S. House of Representatives' fundraising committee is scheduled to review a series of digital asset tax legislation on September 16, advancing the crypto tax bill toward a full House vote. This review focuses on two core issues: when miners and stakers should pay taxes on newly created tokens, and whether the wash sale rules applicable to stocks should cover digital assets.The two key bills are the "Mining and Staking Tax Clarification Act" H.R. 9175 and the "Applying Existing Tax Anti-Abuse Rules to Digital Assets Act" H.R. 9172. The former stipulates that miners and stakers do not need to pay taxes immediately upon receiving new tokens but can wait until the tokens are actually sold to pay taxes as ordinary income; the latter extends wash sale and constructive sale rules to actively traded digital assets, closing tax loopholes that crypto traders have exploited for years.

According to Reuters, Mexican authorities discovered an illegal cryptocurrency mining operation in a remote mountainous building in Tehuacán, Puebla, where 300 GPUs, 80 medium-voltage terminals, and 8 satellite antennas were found on-site. Authorities are investigating whether the operation is stealing electricity from a nearby hydroelectric power station.This is the fourth similar crypto farm discovered in the area since early last year, with three others found near a hydroelectric power station in northern Puebla last year. Local residents reported that the noise from the equipment can be heard from a kilometer away. Mexican security analyst David Saucedo stated that drug trafficking groups seem to have reached a new level of sophistication, as establishing such operations requires technical expertise and support from well-funded groups.Chainalysis Latin America expert Caio Motta pointed out that such operations are usually located in areas with extremely low electricity prices or within the reach of organized crime to steal electricity and establish large-scale mining infrastructure.

Liquid Capital founder Yi Lihua stated, "In the past two days, expectations of interest rate hikes have emerged, leading to a divergence in market trends. Since negative news has appeared, there are two possible scenarios: one is a real interest rate hike, which would lead to a short-term drop below 76,000, followed by a period of consolidation before rising again. The other is no interest rate hike, which would lead to continued upward movement. Regardless, it's best to trade spot without leverage."During an exchange at a business school in Shenzhen, Yi Lihua pointed out several opportunities in the next three years: one is mainstream BTC/ETH spot trading around four times, aiming for ten times with effort in swing trading. Another is trading infrastructure, which still presents hundredfold opportunities, as the core demand of blockchain is trading. The third is the IPOs defined by CZ, where stocks and IPOs are brought on-chain, resulting in truly high-quality assets that were once white paper tokens bidding farewell completely.

According to Forbes, Patrick Witt, the executive director of the Digital Asset Advisory Committee of President Trump, told Semafor that the window of opportunity for the Clarity Act is closing, and if the procedural vote next week fails, "no one can say when the bill will have another chance."Witt stated that a failed motion vote will not yield the desired results for anyone and called for bipartisan support for the bill: "Join this bill, and let's continue the conversation." The bill is scheduled for a procedural vote on September 15.

According to CryptoQuant analyst Darkfost, the recent rise in Bitcoin has driven investor sentiment to its most optimistic level in nearly two years, with related market sentiment indicators briefly breaking 89, entering the "extreme greed" zone, the last time a similar level was seen was in March 2024.Darkfost pointed out that when market sentiment is excessively optimistic or pessimistic, it is often worth paying attention to potential market turning points. Currently, this indicator has started to retreat from its previous euphoric levels, gradually returning to a relatively normal range, while the Bitcoin price is attempting to hold its current level.

The first two batches of confiscated assets in the Singapore 3 billion Singapore dollars money laundering case have officially opened for auction, with an overall estimated value between 2.9 million and 3.9 million. The auction is conducted solely online, and bidders cannot place bids in person or via phone. Currently, the confiscated items are stored in the Le Freeport warehouse at Changi North, and interested bidders from Singapore and abroad can visit, but must make an appointment in advance, with limited slots available. Among the items, the most notable are the limited edition pumpkin bags from Louis Vuitton and Yayoi Kusama.It is reported that this case is one of the largest money laundering cases in Singapore in recent years. The involved person, Wang Shuiming's partner, Su Weiyi, has been confirmed as the mastermind behind the cryptocurrency platform scam Atom Asset Exchange. Another involved person, Su Baolin, had received illegal online gambling proceeds from abroad through USDT and exchanged part of the USDT for at least 463,000 Singapore dollars in cash in 2023. He also used USDT to purchase a Toyota Alphard.

According to the Financial Times, the UK cryptocurrency industry is entering the regulatory implementation phase. Zumo founder and CEO Nick Jones stated that the Financial Conduct Authority (FCA) will open the application window for cryptocurrency asset authorization on September 30, with the new regulatory system expected to be officially implemented in October 2027.He pointed out that for a long time, regulatory uncertainty and counterparty risk have made financial institutions cautious about the UK cryptocurrency market, not due to a lack of interest in digital assets. As the regulatory path becomes clearer, traditional financial institutions such as the UK's largest retail investment platform Hargreaves Lansdown are beginning to enter the cryptocurrency market. The industry will gradually bid farewell to offshore operations, startup-style business processes, and unregulated models, and the importance of compliant infrastructure and local service providers will further increase.