Bloomberg ETF analyst James Seyffart has predicted that many altcoin exchange-traded products (ETPs) are likely to fail. He explained that ETPs for long-tail assets, which he described as tokens with small market capitalizations and low liquidity, are almost certain to not attract significant capital inflows. Seyffart noted that products with low investment levels are likely to be delisted eventually, adding that this is particularly true if five or more applicants are awaiting ETP approval for the same altcoin. Seyffart previously stated that a total of 92 crypto ETFs are pending review by the U.S. Securities and Exchange Commission (SEC).

Canada-based crypto infrastructure provider Luxfolio is pursuing a $73 million capital increase, Decrypt reported. The company may use the funds to purchase additional LTC. Luxfolio aims to secure one million LTC by 2026 and has been disclosing its purchase information since last July.

Navi Protocol (NAVX), the largest DeFi project in the Sui (SUI) ecosystem, announced via its official X account that deposits in its liquidity pools have surpassed 2,200 BTC, valued at over $244 million. The protocol added that it is now the largest BTC liquidity hub within the Sui ecosystem.

Former Coinbase executive Balaji Srinivasan transforms troubled Forest City development into a laboratory for blockchain-based governance and startup societies in Malaysia. Bloomberg reported that a radical experiment in crypto governance is unfolding in Malaysia’s Forest City. The project explores how cryptocurrency and shared ideology might redefine citizenship. Network School Emerges in Forest City Tech entrepreneurs and crypto innovators are testing whether blockchain-based nations can replace traditional territorial models. Nearly 400 students have flocked to this reclaimed island development. They participate in Network School, an ambitious project spearheaded by Balaji Srinivasan, former chief technology officer of Coinbase Inc. The program charges participants $1,500 monthly for shared accommodations. Students explore decentralized governance alongside longevity science. Forest City was originally designed to house millions. Currently, it hosts only a fraction of that population. However, this provides an ideal testing ground for Srinivasan’s vision of “startup societies.” Technological beliefs rather than historical borders should define these communities. Moreover, they emphasize cryptocurrency adoption over traditional citizenship models. The curriculum blends practical coding sessions with ideological seminars. Students examine everything from Singapore’s statecraft to blockchain governance mechanics. Mornings focus on building crypto projects. Afternoons involve debating theories about decentralized autonomous organizations. Additionally, students discuss digital sovereignty concepts. The campus mirrors Silicon Valley’s health obsession. It features commercial-grade fitness facilities and protein-heavy diets, which draw inspiration from longevity movements. Furthermore, the environment encourages both physical and intellectual development. From Silicon Valley Exit to Malaysian Experiment Srinivasan’s journey from venture capitalist to nation-state theorist began at Andreessen Horowitz, where he spent five years as a general partner before joining Coinbase in 2018. His 2013 Y Combinator speech gained significant attention in tech circles. The speech advocated Silicon Valley’s “ultimate exit” from the US. He argued that traditional nation-states had become obsolete barriers to innovation. The Network State concept was fully articulated in his 2022 eponymous book. It proposes that online communities united by shared values can form new decentralized states. These communities would leverage cryptocurrency and digital tools. “Network states” would exist across multiple geographic locations. Blockchain technology and internet infrastructure would bind them together. Ultimately, they would seek diplomatic recognition from existing governments. Forest City’s appeal extends beyond low rental costs. Its proximity to Singapore’s international airport adds convenience. Malaysian authorities have implemented various incentives to revitalize the development. These include duty-free status and zero-percent tax rates for family offices. Consequently, the environment becomes conducive to regulatory experimentation. While the students welcome the initiative as transformative and visionary, critics are concerned that it only reflects genuine charitable impulses. The success of Network School’s experiment may determine the viability of the blockchain governance model, suggesting practical political alternatives.

21Shares, a Swiss-based crypto investment company, has filed an S-1 registration with the SEC to establish the 21Shares SEI ETF, a passive fund tracking the CF SEI-Dollar Index. If regulatory conditions permit, the fund can reflect staking rewards. SEI’s price reacted positively in the short term, while technical sentiment leans toward a rebound from support levels. According to the SEC Filing S-1, the 21Shares Sei (SEI) ETF is a passive fund that aims to track the CF SEI-Dollar Reference Rate (New York Variant) from CF Benchmarks. The ETF does not use leverage or derivatives; its creation/redemption mechanism can be done in cash or in-kind. Coinbase Custody has been appointed as the SEI custodian. A key distinction is that the fund may reflect rewards from staking a portion of SEI. This is only possible if the sponsor determines there is no legal or tax risk, including consideration of using LSTs, thereby maintaining grantor trust status. In other words, the “staking” component is optional and dependent on regulatory approval. Notably, the SEC has repeatedly delayed decisions on allowing staking features in Grayscale’s spot ETH funds, with the final deadline expected in October 2025. This signals that any altcoin ETF seeking to integrate staking “yields” will likely face similarly rigorous scrutiny. Therefore, although 21Shares has included the staking option on paper, the probability of implementation at listing is low unless further SEC guidance emerges. Previously, CBOE filed the Canary Staked SEI ETF 19b-4 with the U.S. SEC. The SEC delayed 21Shares’ XRP ETF filing, despite growing optimism around regulatory developments and recent market enthusiasm. SEI trades around $0.30 at the time of writing, up 3.33% for the day. It has a market cap of approximately $1.82 billion and 24-hour trading volume above $210 million. This scale is sufficient for a specialized ETF to attract additional institutional flows, favoring assets wrapped in listed structures. From a technical perspective, analysts on X note that SEI has bounced from a key support area, confluencing with the lower boundary of a triangle/“bullish pennant” pattern, with target references around $0.345, and—if a strong breakout occurs—potentially toward $0.60. SEI bounced back from a crucial support level and is likely to close a strong week. Other views highlight that SEI is consolidating above the $0.29 zone, suggesting the potential to maintain a bullish structure. This remains a scenario target, not a commitment; price may fluctuate widely before establishing a clear direction. Investors should combine risk management with invalidation levels rather than chasing headlines.

According to PANews, Ethereum core developers recently convened for the 219th Ethereum Execution Layer Core Developers Meeting (ACDE), where they discussed several key topics. Tim Beiko summarized the meeting, highlighting the progress on the Fusaka development network (Devnet-3), which is expected to be completed today. The consensus layer team is currently addressing synchronization issues, and another non-finality test is planned for next week. If successful, Devnet-5 will be launched. The developers also discussed the retirement of Holesky, with plans to decommission it a few weeks after Fusaka is activated on Holesky. A public post will be released to outline the timeline and provide migration guidance. Additionally, the meeting addressed the gas limit, with a target of reaching 60 million before the Fusaka upgrade. The Glamsterdam update was also discussed, with future meetings set to prioritize client-requested PFI matters.

U.S. spot Bitcoin ETFs recorded a net inflow of $179.36 million on Aug. 28, marking the fourth consecutive trading day of positive flows, according to Trader T. Ark Invest's ARKB led the inflows with $79.81 million, followed by BlackRock's IBIT with $64.19 million. Other notable inflows included $25.02 million for Bitwise's BITB, $5.45 million for Grayscale's Mini BTC, and $4.89 million for Fidelity's FBTC.

Web3 social platform UXLink argued in a recent analysis that social infrastructure can solve the distribution problems facing real-world asset (RWA) tokenization and stablecoins. The report explained that Web3, with its core principle of decentralization, must establish a new trust model distinct from traditional financial markets. It noted that social networks are inherently trust-based, and people tend to adopt new technologies more quickly when introduced within a trusted community. UXLink, which serves as Web3 social infrastructure for over 54 million users, recently launched a new trust protocol called Real World Social (RWS). The company emphasized that a key limitation for both RWAs and stablecoins is the need for widespread public recognition and adoption. It asserted that social infrastructure platforms like UXLink can address these dual challenges of trust and distribution.

According to PANews, a whale has acquired 73,500 SOL tokens valued at $15.65 million from FalconX and has staked them. Over the past two months, this whale has obtained a total of 95,700 SOL tokens, worth $20.68 million, from FalconX for staking purposes.

According to TechFlow, on August 29, a significant whale has been observed deploying short positions in the XPL market within the $2-$3 range, as monitored by the on-chain analysis platform Lookonchain. This strategy may indicate the whale's intention to profit from a potential price increase driven by other investors before executing a short sale.

U.S. spot Ethereum (ETH) ETFs recorded a net inflow of $39.63 million on Aug. 28, marking the sixth consecutive trading day of positive flows, according to TraderT. BlackRock's ETHA led the inflows with $68.09 million, followed by Grayscale's Mini ETH with $6.27 million. Conversely, Fidelity's FETH and Bitwise's ETHW experienced net outflows of $33.45 million and $1.28 million, respectively.

The current Bitcoin market cycle is becoming more prolonged compared to previous ones, according to an analysis by CryptoDan, a contributor to CryptoQuant. On-chain data shows that the proportion of Bitcoin held for over one year is increasing at a slower pace. The analyst attributed this trend to the introduction of spot ETFs, increased adoption by institutions and nations, and capital flows into altcoins, noting that Bitcoin's rallies have repeatedly stalled when funds move into altcoins. Looking ahead, the analysis suggests that expectations for a September interest rate cut and the potential approval of spot altcoin ETFs in October are likely to act as positive market catalysts. Consequently, a more positive market sentiment could form this autumn and winter. From a cycle perspective, any further corrections could present favorable buying opportunities for investors, the analyst concluded.

Ikuyo, a Japanese automotive parts manufacturer, decided to underwrite a 300 million yen, $2 million, third-party allocation of new shares to US-based Galactic Holdings, Inc. This investment signals the automotive industry’s blockchain payment transformation across global supply chains. Following a strategic digital currency investment disclosure, Ikuyo shares reached unprecedented highs this week. The 300 million yen commitment to Texas-based blockchain payment provider Galactic Holdings represents calculated expansion. Moreover, investor enthusiasm reflects growing crypto appetite in established industries. Overall, traditional automotive supply chain financing faces pressure from inefficient cross-border systems. Digital currencies, however, reduce settlement times and blockchain-verified transactions and are welcomed by manufacturers seeking alternatives to conventional banking infrastructure for global operations. The investment builds upon Ikuyo’s June partnership agreement with Galactic Holdings, strengthening operational ties between the Japanese manufacturer and digital payment provider. Additionally, this blockchain collaboration positions both companies for expanded market penetration. Galactic Holdings operates licensed digital asset remittance networks across multiple Latin American jurisdictions. Its blockchain-powered platform eliminates traditional currency conversion delays, and consequently, B2B transactions benefit from enhanced transparency and blockchain settlement mechanisms. Current payment workflows between Ikuyo’s Chinese subsidiary and Mexican partners involve peso-to-dollar conversions. These multi-step processes create operational inefficiencies without blockchain integration. However, digital currency implementation promises streamlined direct settlements through blockchain verification systems. Ikuyo’s blockchain payment investment reflects broader industry trends toward digital currency utilization. While traditional manufacturers increasingly recognize blockchain infrastructure benefits for global operations, early adopters position themselves as competitive. Given complex international supply relationships, the automotive parts sector particularly benefits from stablecoin payment efficiency. Industry analysts expect increased corporate cryptocurrency adoption as blockchain regulatory frameworks mature across major economies. Meanwhile, established manufacturers leverage existing global networks to pilot innovative digital solutions.

According to Cointelegraph, Bitcoin miner IREN has achieved its most successful quarter to date, generating $187.3 million in the last quarter and contributing to a record $501 million in revenue for the fiscal year. This impressive performance has led to a nearly 14% increase in its stock during after-hours trading. The quarterly revenue for the period ending June 30 saw a 226% year-on-year increase, allowing the company to return to profitability with a net income of $176.9 million. The growth was primarily driven by its Bitcoin mining operations, but IREN has also expanded its presence in the AI sector by becoming a "Preferred Partner" to AI leader Nvidia. IREN's stock closed at $23.04 on Thursday, rising by 3.1%, and continued to climb by another 13.9% in after-hours trading, according to Google Finance data. The stock has been on an upward trajectory throughout the month, consistently reaching new highs. This expansion into AI is part of a broader industry trend, as Bitcoin miners face increased mining difficulty, leading to higher energy consumption and tighter profit margins. Many miners are now seeking more efficient equipment, cheaper energy sources, or diversifying into AI to maintain profitability. In 2025, IREN has established itself as a leading Bitcoin miner, recording $1 billion in annualized revenue under current mining conditions. It surpassed industry heavyweight MARA Holdings in Bitcoin production in July, mining 728 BTC compared to MARA's 703 BTC. IREN also achieved 50 exahashes per second in installed Bitcoin mining capacity but has paused further expansion to concentrate on AI. As a "Preferred Partner" to Nvidia, IREN increased its GPU count to 1,900 during the quarter, marking a 132% year-on-year growth. This partnership provides IREN with enhanced access to Nvidia's hardware, allowing it to generate revenue by renting GPU power for machine learning tasks and supporting businesses requiring high-performance AI computation. IREN plans to invest an additional $200 million to increase its GPU count to 10,900 in the coming months, aiming for $200 million to $250 million in annualized AI revenue by December. This would represent a significant increase compared to the $25 million monthly revenue generated between April and June. In the long term, IREN intends to install 60,000 of Nvidia's Blackwell GPUs at its British Columbia site in Canada. Despite being labeled as "overvalued" by short-selling firm Culper Research last year, IREN's shares have rebounded significantly, rising 312.2% in the past four months. Additionally, IREN recently settled a legal dispute with creditor NYDIG over $105 million in defaulted equipment loans, concluding a nearly three-year legal battle.

According to Foresight News, Onchain Lens has reported that James Wynn has closed his 10x leveraged long position on DOGE, securing a profit of $2,835. Subsequently, Wynn has initiated a small short position on BTC with 40x leverage.

According to Foresight News, Hong Kong-listed company New City Development (stock code 1030) has announced the establishment of a Digital Asset Research Institute today. The initiative aims to integrate the company's existing business expertise with Real World Asset (RWA) tokenization technology to advance its strategic layout in RWA applications. The company plans to bring in external experts in blockchain, digital finance, and compliance to address specific areas of expertise. This includes legal advisors to comprehensively assess domestic and international legal issues related to RWA, professional consultants to evaluate financial and tax matters, and technical suppliers to optimize technological solutions. Additionally, New City Development intends to maintain communication with regulatory authorities.

Coinbase is establishing itself as a key lending source for crypto mining companies, Bloomberg reported. This transformation follows the collapse of previous industry lenders such as Celsius and BlockFi, positioning Coinbase to move beyond its core exchange and custody services. Mining firms including CleanSpark (CLSK), Riot Platforms (RIOT), and Hut 8 (HUT) are expanding their credit lines with the company. Brian Dobson, a managing director at New York-based fintech firm Clear Street, said that mining companies require significant capital for high-cost equipment, power needs, and a transition toward AI infrastructure. He added that Coinbase's expansion of its financial infrastructure is accelerating due to the pro-cryptocurrency regulatory environment of the Trump administration.

Rain, a San Francisco-based fintech that issues Visa debit and credit cards powered by stablecoins, raised $58 million in Series B financing. The company said the new capital will accelerate efforts to make stablecoins usable for everyday payments worldwide. Investors see the move as a sign of rising institutional confidence in blockchain-based payment systems. Rain announced that it raised $58 million and aims to bridge blockchain technology with global payment systems. The round included Samsung Next, Sapphire Ventures, Dragonfly, Galaxy Ventures, Lightspeed, Norwest, and Endeavor Catalyst. Samsung Next, Samsung’s venture investment arm, focuses on emerging technologies and strategic startups. The raise came just five months after Rain closed a $24.5 million Series A, bringing its total funding to $88.5 million. Stablecoins have scaled to hundreds of billions in circulation, but until now, they couldn’t be easily spent. Rain is fixing that by connecting stablecoins to Visa’s global network, turning them into money usable for everyday commerce. Rain provides infrastructure that enables fintechs, banks, and marketplaces to issue stablecoin-backed cards, wallets, and payment programs. Transaction volume has grown tenfold since January 2025, with millions of purchases processed in more than 150 countries. Stablecoins are shifting to the backbone of global commerce. Money originally moved instantly. We spent centuries slowing it down. Rain is bringing that simplicity back across any border, platform, or currency. Stablecoins like Tether’s USDT, with $167 billion in circulation, and Circle’s USDC remain the largest tokens by supply. Analysts project the sector could reach trillions in market value within years. Enterprise interest in stablecoins surged in 2025 after the GENIUS Act in the US and the European Union’s MiCA framework created more straightforward compliance guidelines. This regulatory certainty encouraged major banks, including Bank of America, to explore issuing their own stablecoins. Rain is a direct beneficiary of this shift, offering partners a single integration that covers money-in, storage, spending, and payouts. As a Visa Principal Member, Rain directly settles all card payment volume in stablecoins on the Visa network. The platform is built natively for stablecoins and is not retrofitted from fiat rails, giving enterprises greater flexibility and compliance. At the same time, Rain faces competition in digital payments. Crypto wallet provider MetaMask announced plans to launch the MetaMask Card by year-end, enabling users to pay with stablecoins at Mastercard-accepting merchants.

The volume of ETH held in accumulation addresses, defined as wallets that acquire the asset for the long term without selling, has reached a new all-time high. According to CryptoQuant contributor Burak Kesmeci, this metric is a key indicator of long-term investor confidence in the market. Holdings in these addresses have surged threefold from 8.9 million ETH last May, prior to the spot ETF approval, to 24.3 million ETH as of this August. Kesmeci stated that this trend suggests institutional funds from ETFs are buying spot ETH and moving it into long-term storage. The pace of accumulation has accelerated sharply since June, with average daily inflows rising from a few thousand ETH to hundreds of thousands. Several days have seen inflows of over 500,000 ETH, which Kesmeci described as the beginning of an accumulation race driven by institutional demand. He also noted that the average purchase price for these addresses is around $2,500, placing most of them in significant profit. Historically, he added, long-term investors in such a position tend to support upward trends by holding their assets.

A total of 92 cryptocurrency ETF applications are currently pending review by the U.S. Securities and Exchange Commission (SEC), according to Bloomberg analyst James Seyffart. Among these, Solana (SOL) ETFs are the most numerous with 16 filings. They are followed by XRP with 15 applications, mixed-asset funds with nine, ETH with six, and BTC, DOGE, and LTC each with four.