📣 Solana price eyes breakout after tokenized stock boom fuels 18% rally

❗️ Solana price has extended its recovery to nearly 18% over the past week as record tokenized stock activity and growing institutional adoption helped the token outperform a crypto market still weighed down by macroeconomic uncertainty. According to data from cryptonews, Solana climbed from a local low near $64 on June 25 to an intraday high of $75.8 on June 30 before easing back toward the $73 region. Its rebound came while Bitcoin remained below 60.000$ following another failed breakout attempt, allowing SOL to stand out as one of the few large-cap cryptocurrencies to post a strong weekly gain.

🔖 One catalyst behind the move came from Solana’s tokenized asset ecosystem. The network processed a record $1.36 billion in weekly tokenized equity volume, accounting for roughly 96% of all on-chain stock trading during the period. The surge in real-world asset activity increased on-chain transactions and demand for SOL as the network’s native gas token, adding a source of organic spot buying beyond speculative trading.

⚠️ Institutional adoption also continued to build. Spot Solana exchange-traded funds managed by firms including Bitwise and Fidelity surpassed $1.06 billion in combined assets under management. Unlike spot Bitcoin ETFs, several Solana products distribute staking rewards to shareholders, giving investors an additional yield component alongside price exposure.

🔖 Elon Musk’s SpaceX wallet stirs Bitcoin fears as SPCX sinks 25%

📣 SpaceX has transferred Bitcoin for the first time in six months, while its newly listed SPCX shares have fallen more than 25% from recent highs despite joining the Nasdaq-100. According to Arkham Intelligence, a wallet linked to Elon Musk’s SpaceX moved just $88 worth of Bitcoin on July 8, ending a six-month period without on-chain activity. Although the transfer was tiny, it quickly fueled speculation across crypto markets because the company’s wallets have historically remained inactive for long periods.

➡️ Arkham Intelligence data showed that SpaceX still holds about 18,712 BTC, worth roughly $1.16 billion at current prices. The receiving wallet now contains 614 BTC valued at about $38 million. The blockchain analytics platform also showed that the company’s previous major transfer involved more than 1,016 BTC worth nearly $100 million. While the latest transaction involved only a nominal amount, it arrived after a series of larger Bitcoin sales by corporate treasury holders. Strategy, MARA Holdings, Nakamoto Holdings, and Sequans Communications have all disclosed Bitcoin sales in recent weeks.

⚠️ Past activity has also added to the attention. Arkham Intelligence data indicates that outflows from SpaceX to unidentified wallets accelerated around the crypto market decline on Oct. 10 last year before slowing as the company’s attention turned toward its public listing. Selling pressure has continued in SpaceX shares even after the company secured a place in the Nasdaq-100. SPCX closed 6.83% lower at $149.47 on Tuesday after touching an intraday low of $148.86, leaving the stock below its IPO debut price and more than 25% below levels seen about a month ago. Premarket trading on Wednesday showed the shares edging up 0.49%.

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➡️ Russia is legalizing crypto for everyone except Russians

🔔 The crypto law reaching its final votes in the State Duma legalizes digital assets for cross-border trade while capping ordinary Russians at $3,800 a year and banning crypto payments at home. It is the most honest crypto law ever written, because it does not pretend to be for citizens at all.

⚠️ There is a version of crypto legalization that every country’s industry lobbies for: open access, clear rules, low friction, the state stepping back so markets can step in. The law reaching its final votes in Russia’s State Duma this week is the other version, and its clarity is what makes it worth reading closely. Licenses its exchanges, recognizes digital assets as property, and writes them into the tax code. It also caps what an ordinary Russian can buy at roughly $3,800 a year, keeps the ban on paying for anything with crypto inside the country, phases out peer-to-peer trading, and reserves the law’s one genuinely open channel, unlimited cross-border crypto settlement, for companies paying foreign counterparties.

📊 One of the bill’s architects described that channel’s purpose without euphemism: it lets Russian firms pay partners abroad while circumventing sanctions restrictions. Strip away the licensing scaffolding and the design is legible in a sentence. This is a law that legalizes crypto for the Russian state’s problems and rations it for the Russian public, and understanding why it is built that way explains more about where crypto regulation is heading globally than a dozen friendlier frameworks.

🚨 Breaking: Morgan Stanley Ethereum and Solana ETFs Approved to List & Trade on NYSE Arca

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➡️ Ripple-era SEC chair Jay Clayton confirmed as DNI

📣 The U.S. Senate confirmed former Securities and Exchange Commission Chair Jay Clayton as Director of National Intelligence on July 28 in a 51-47 party-line vote. Clayton will replace acting Director William Pulte after completing the formal transition. President Donald Trump nominated him on June 11, and the Senate Intelligence Committee advanced the nomination 9-8 on July 21.

🔖 The Senate invoked cloture on Clayton’s nomination by 51-43 on July 27 before approving him the following day. Republicans supported the confirmation, while Democrats opposed it. Clayton previously won Senate confirmation as SEC chair by 61-37 in 2017.His latest confirmation was more divided. Senate Intelligence Committee Vice Chair Mark Warner said he had “serious reservations” about Clayton’s willingness to resist political pressure. The criticism represents Warner’s assessment, not a finding about Clayton’s conduct as intelligence director.

❗️ Clayton’s confirmation hearing also focused on his limited traditional intelligence experience, his answers about the 2020 election and subpoenas issued during his time as U.S. Attorney for the Southern District of New York. Supporters cited his work involving cyber threats, illicit finance, sanctions and national-security prosecutions.

⚡️ CleanSpark reports $239M quarterly loss as revenue falls 30.5%, misses estimates

👀 CleanSpark has reported a $239 million quarterly loss as revenue fell 30.5% year over year, while its latest AI data center lease has added a long-term revenue stream outside Bitcoin mining.

🌐 According to CleanSpark’s fiscal third-quarter results published on Thursday, the Nasdaq-listed Bitcoin mining company generated $138 million in revenue for the three months ended June 30, down 30.5% from $198 million in the same quarter last year. The figure also came in below Wall Street expectations, with Yahoo Finance analyst estimates placing the consensus forecast at $142.2 million. For the quarter, the company posted a net loss of $239 million, or $0.89 per basic share, reversing from net income of $257 million, or $0.90 per share, recorded a year earlier.

🔗 Alongside the decline in revenue, CleanSpark’s quarterly sales narrowly missed analysts’ expectations compiled by Yahoo FinanceInvestors reacted by sending the stock lower. Shares fell 5.5% during Thursday’s trading session before recovering about 3% in pre-market trading on Friday to trade above $13.10, according to Yahoo Finance market data. The latest earnings follow a similar market reaction after the previous quarterly report. Following the May results, CleanSpark shares dropped more than 10% in pre-market trading after closing the previous session at $14.30. Google Finance data at the time showed the company carried a market capitalization of about $3.66 billion, with shares trading within a 52-week range of $8.00 to $23.61.

🌐 HTX and FCA seek settlement in UK crypto marketing lawsuit

🔗 HTX and the UK Financial Conduct Authority have entered settlement talks over allegations that the crypto exchange illegally promoted its services to British consumers, with High Court proceedings paused until late August while negotiations continue. The discussions concern a lawsuit filed by the FCA in October against Panama-incorporated Huobi Global and unidentified people alleged to operate and control HTX. In February, the regulator accused the exchange of breaching financial promotion rules that have applied to cryptoassets in the UK since October 2023.

⚡️ HTX, formerly known as Huobi, is one of the world’s largest crypto trading platforms and has been linked to Tron founder Justin Sun, who acquired a controlling interest in the exchange in 2022. The company is also dealing with separate sanctions imposed by the UK and European Union while maintaining that its services are not intended for British customers. Court orders reviewed by Reuters show that discussions between HTX and the FCA began after months of unsuccessful attempts by the regulator to engage with the exchange.

❗️ The FCA had alleged that HTX ignored repeated requests to communicate and operated through what the regulator described as an “opaque operational structure.” Following email exchanges in March, however, the two sides entered settlement discussions that initially ran for three months.

❗️ Bitcoin may offer an escape from the dollar’s reserve currency trap: Forbes

🌐 Bitcoin has been presented as a possible neutral reserve asset after an old video of U.S. Vice President JD Vance resurfaced in which he questioned whether the dollar’s reserve currency status ultimately benefits the United States. Vance, who was a U.S. senator when the video was recorded, described his position as “super heterodox” and questioned whether reserve currency status was necessarily good for the country. He argued that global demand for dollars allows U.S. consumers to purchase foreign goods cheaply and gives the country unusually easy access to borrowing.

🔖 The cost, according to Vance, falls elsewhere in the economy. Strong overseas demand for dollars can support a higher exchange rate, making American goods more expensive abroad while imported products become cheaper for U.S. consumers. Birnbaum argued that the arrangement creates a conflict between the benefits Americans receive from dollar dominance and the pressure placed on domestic manufacturers and exporters.

🔗 The dollar’s international position has traditionally been described as an “exorbitant privilege” because the United States can borrow in its own currency while foreign governments, banks and investors maintain large holdings of dollar-denominated assets.

🔖 Tokenized deposits could raise borrowing costs, Fed economists warn

🌐 Tokenized deposits could reduce U.S. banks’ capacity to hold long-term interest-rate exposure by $700 billion under one modeled scenario, according to research published Aug. 25 by Dallas Fed economists Rosie Levy and Srini Ramaswamy. The figure does not represent $700 billion of deposits expected to leave banks or an equivalent guaranteed decline in lending. It measures a possible reduction in banks’ duration risk appetite, expressed as the equivalent exposure to ten-year Treasury securities.

📊 Tokenized deposits are ordinary commercial bank deposits represented on a blockchain or another distributed ledger. They can support automated payments, programmable transactions and around-the-clock settlement while remaining liabilities of the issuing bank. Their speed could weaken the practical barriers that make deposits relatively stable. Customers seeking higher yields could move money between institutions faster than they can through many existing banking systems.

⚠️ Smart contracts could automatically transfer balances when another institution offers a better rate. Agentic artificial intelligence could theoretically monitor yields and initiate those transfers without requiring customers to act manually. The authors did not predict how broadly depositors would use such automation. They described large-scale adoption as uncertain and evaluated what could happen under specific assumptions.

📊 Strategy’s STRC remains below $100 despite $635 million in buybacks

➡️ Strategy has spent $635.2 million repurchasing its STRC perpetual preferred stock as the security continues to trade below its $100 par value despite recovering from a low near $71. The latest purchase covered 1.56 million STRC shares and came as the company returned to buying Bitcoin after a roughly two-month pause. Strategy acquired 4,603 BTC for $369.7 million at an average price of $80,318 per coin, taking its total holdings to 845,050 BTC.

🔖 STRC, known as Stretch, was trading at $97.34 on Tuesday, leaving the preferred stock below the $100 level Strategy has sought to restore through dividend increases, cash reserves and share repurchases. Since then, the company has steadily used the preferred stock authorization as STRC recovered from its June lows.

🔗 The company funded its latest transactions by selling 4.53 million MSTR shares through its at-the-market program for net proceeds of $602.8 million. Of that amount, $369.7 million funded the Bitcoin purchase, $151.8 million went toward STRC repurchases, $50.7 million was allocated to STRC dividends and $30 million was added to Strategy’s USD Cash account.

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📣 FBI traces Bitcoin to alleged darknet opioid ring

➡️ Federal authorities charged two Jacksonville brothers with allegedly operating a darknet narcotics vendor whose counterfeit pills were connected to at least 12 overdoses, including three deaths. Vladislav Chernyshov, 35, and Stanislav Chernyshov, 30, were arrested on Aug. 28 on charges of conspiring to distribute nitazenes. The U.S. Attorney’s Office for the Eastern District of Virginia announced the case on Sept. 2.

👀 An FBI affidavit alleges that the brothers operated under the vendor name “BarbaraWhite.” Investigators used blockchain analysis alongside postal records, undercover purchases, surveillance and darknet marketplace data to identify the alleged operators. Investigators identified Bitcoin addresses allegedly used by BarbaraWhite to withdraw proceeds from Nemesis, Bohemia and Abacus. All three platforms operated as darknet marketplaces before being shut down or disappearing.

❗️ The total amount sent can exceed direct marketplace receipts because wallets can receive funds from other sources, transfer the same funds through several addresses or contain balances acquired before the period under review. The figures should not be treated as net profit or total drug-sale revenue.

🌐 Strategic Bitcoin Reserve bill set for House committee vote Wednesday

🔗 The U.S. House Financial Services Committee has scheduled a markup of legislation that would put the federal Strategic Bitcoin Reserve into law and require government-held Bitcoin to remain in the reserve for at least 20 years. Introduced by Republican Rep. Nick Begich of Alaska in May, the bill has Democratic Rep. Jared Golden of Maine among its cosponsors and would establish two separate structures within the Treasury Department for federal crypto holdings. The bill was referred to the House Financial Services Committee after its introduction.

👀 The committee’s official calendar confirms a full committee markup for Wednesday, though the public event page lists it under the general title “Markup of Various Measures.”H.R. 8957 would require the Treasury secretary to create a secure storage facility called the Strategic Bitcoin Reserve within 180 days of enactment. A separate Digital Asset Stockpile would handle non-Bitcoin crypto assets held by the federal government.

⚡️ All “qualifying Bitcoin” acquired by the government would be placed in the Bitcoin reserve. The legislation defines qualifying Bitcoin as BTC finally forfeited through criminal or civil asset forfeiture proceedings, or received in satisfaction of certain civil monetary penalties, subject to requirements under existing federal law. Non-Bitcoin assets would go into the separate stockpile, where the Treasury secretary would have discretion to sell, exchange or convert them. Proceeds could only be used to increase the Strategic Bitcoin Reserve’s holdings or reduce the national debt.

➡️ Crypto firms pour $206 million into 2026 US election cycle

‼️ Crypto companies have contributed $206 million toward the 2026 U.S. election cycle as industry backed political groups continue directing money into congressional races ahead of the November midterms. Public Citizen said in an Aug. 27 analysis of Federal Election Commission records that cryptocurrency companies represented the largest of three technology related sectors driving corporate political spending this election cycle. Crypto contributions reached $206 million, compared with $76 million from online betting companies and $62 million from Big Tech, AI and data center related businesses.

📊 Corporate contributions across all sectors have reached $646 million so far, according to the consumer advocacy group. The figure is already 40% above the $461 million recorded across the entire 2024 presidential election cycle and more than triple the $184.1 million reported during the 2022 midterms. Crypto companies, online betting firms and businesses connected with AI and data centers contributed a combined $344 million, accounting for 53% of the corporate contributions disclosed to the FEC in Public Citizen’s analysis.

🔖 Fairshake has remained the main political vehicle for crypto companies during the 2026 election cycle, with Public Citizen calculating $83 million in corporate contributions to the super PAC through the second quarter. The group listed total crypto corporate contributions at $206 million over the same period. Fairshake works alongside Protect Progress, which has primarily participated in Democratic contests, and Defend American Jobs, which has focused on Republican races.

🌐 BitMine adds 17,362 ETH as treasury crosses 6 million

🔗 BitMine Immersion Technologies has bought another 17,362 ETH over the past week, pushing its total Ethereum holdings above 6 million tokens as the company moves closer to its stated goal of owning 5% of Ethereum’s supply. The company said its Ethereum balance represents approximately 4.9% of an estimated 122.1 million ETH supply. BitMine described itself as 98% of the way toward its “Alchemy of 5%” target, which seeks to build a treasury equal to 5% of Ethereum’s supply.

⚠️ The latest purchase extends BitMine’s weekly accumulation strategy, which began on June 30, 2025. Chairman Tom Lee said the company has purchased ETH during every week since launching the strategy. “Over the past week, we acquired 17,362 ETH,” Lee said in the company release. He described the crossing of 6 million ETH as a milestone reached in under 15 months.

❗️ One week earlier, BitMine held 5,983,940 ETH after buying 27,562 ETH, according to an exhibit filed with the U.S. Securities and Exchange Commission. The filing put the treasury at approximately 4.9% of the same 122.1 million-token supply. At a 5% share of the 122.1 million ETH supply used by BitMine, the target would equal approximately 6.105 million ETH. Based on the Sept. 27 balance, the company remains roughly 103,698 ETH short of that level, assuming the supply figure does not change.