PA Daily | Eightco plans a private sale of $250 million to establish a Worldcoin reserve, causing WLD to break $2; MYX saw $69.18 million get liquidated in 24 hours, exceeding ETH.

Today's news highlights:

The U.S. Congress requires the Treasury to formulate a custodial plan for Bitcoin strategic reserves.

CryptoQuant: The Bitcoin bull market has entered a mature stage, with a peak likely to occur between October and November.

Binance will list Ethena USDe (USDe) and open spot trading.

Coinbase will list SPX6900 (SPX) and Flock (FLOCK)

MegaETH and Ethena have jointly launched the native stablecoin USDm to subsidize sorter fees.

MYX liquidated $69.1877 million in 24 hours, surpassing ETH, with a 334% increase in 24 hours.

The listed company Lion Group plans to exchange all of its existing SOL and SUI assets for HYPE.

Forward Industries announces a $1.65 billion private placement to initiate its Solana financial strategy.

Macro

The US Congress requests the Treasury Department to formulate a custodial plan for Bitcoin as a strategic reserve.

According to Bitcoin Magazine, the U.S. Congress has introduced H.R. 5166, a bill that requires the Department of the Treasury to develop a custody and management plan for Bitcoin acquired by the federal government (including strategic Bitcoin reserves). The bill was submitted by Representative Joyce from Ohio on September 5, 2025, and pertains to financial services and government appropriations for the fiscal year 2026.

Security Agency: NPM Supply Chain Under Attack, Developer qix Affected

According to Scam Sniffer, the well-known developer qix has had npm packages injected with malicious code due to a phishing attack, with related packages including chalk, strip-ansi, and color-convert. The attack method involves hooking wallet functions, tampering with ETH/SOL transaction recipient addresses, and replacing addresses in network responses. Users are advised to verify the recipient and amount on the wallet interface, check for changes in pasted addresses, and review recent transactions, prioritizing the use of hardware wallets for high-value operations. Ledger CTO Charles Guillemet stated that the related software packages have been downloaded over 1 billion times, which means the entire JavaScript ecosystem may be at risk. The malicious code can silently replace crypto addresses during user transactions, stealing funds. Hardware wallet users can mitigate risks by verifying transaction signatures, while non-hardware wallet users are advised to postpone on-chain operations; it is currently unclear whether mnemonic phrases have been stolen.

Opinion

CryptoQuant: The Bitcoin bull market has entered a mature stage, with a peak expected to occur between October and November.

According to CryptoQuant analyst Axel Adler Jr., it has been 504 days since the last Bitcoin halving, and the current market is in the mature stage of a bull market. During this cycle, Bitcoin's price peaked at $70,000 in March, showing an extreme value destruction day (VDD), followed by two moderate distribution waves around $98,000 and $117,000, but not reaching the extreme level of March. This segmented selling behavior of long-term holders (LTH) indicates that market redistribution is more sustainable due to institutional demand. The final judgment of the cycle peak needs to wait for the appearance of the “peak flag” indicator, which typically triggers when the spot price is about 11 times the realization price of long-term holders, expected to appear as early as October to November 2025. Attention should also be paid to the large spending wave of experienced holders and the emergence of short-term volatility peaks.

Analysis: Funds from the US Treasury market may drive a new round of increases in crypto assets.

According to CoinDesk, the total size of U.S. money market funds has increased to $7.26 trillion. Analysts say that if the Federal Reserve lowers interest rates, some funds may flow from the money market into stocks and cryptocurrencies. David Duong, head of research at Coinbase, stated that retail funds are expected to enter risk assets like cryptocurrencies after a rate cut. Jack Ablin, chief strategist at Cresset, pointed out that if yields fall below 4%, investors may shift cash into stocks and cryptocurrencies. The flow of funds depends on the economic environment and the extent of rate cuts.

Project Updates

Binance will list Ethena USDe (USDe) and open spot trading.

Binance announced that it will launch Ethena USDe on September 9, 2025, at 20:00 (Beijing Time) with USDe (USDe), and open the USDe/USDC and USDe/USDT spot trading pairs. Currently, the USDe deposit channel is open, and the listing fee is 0 BNB. USDe withdrawals are expected to open on September 10, 2025, at 20:00 (Beijing Time), with the specific time subject to the withdrawal page.

SwissBorg CEO: The community will not bear the losses, any gap in recovering funds will be covered by the company.

The CEO of the Swiss crypto platform SwissBorg tweeted that the SwissBorg team is investigating the incident involving the exploitation of external DeFi wallets related to the SOL Earn strategy, and assured the community that it will not bear any losses; any shortfall in recovering funds will be covered by SwissBorg. This incident has not affected other strategies on the platform, and user funds remain safe. Earlier today, it was reported that SwissBorg was attacked through a SOL wallet, with approximately $41 million being transferred.

Binance Futures will launch FLOCKUSDT and SKYUSDT perpetual contracts.

According to a Binance announcement, Binance Futures will launch FLOCKUSDT and SKYUSDT perpetual contracts, both of which are USDⓈ margin products.

Binance Alpha will launch Switchboard (SWTCH)

According to Binance in Chinese, Binance Alpha will become the first project to be launched on the Switchboard (SWTCH) platform on September 9. Eligible users can go to the Alpha event page to claim the airdrop using Binance Alpha points after the Alpha trading opens. Specific details will be announced separately.

Upbit will launch the FLOCK/KRW trading pair.

According to Upbit's announcement, FLOCK (FLock.io) will be launched on the KRW market, supporting the Base network.

OpenSea announces mobile upgrade and new phase of TGE pre-rewards

OpenSea CMO Adam Hollander announced that OpenSea has launched a new OpenSea Mobile app, integrating an AI-native trading experience with support for multi-chain wallets, tokens, and NFT one-stop management. The platform also simultaneously launched the Flagship Collection, investing over a million dollars to acquire historical and emerging NFTs. Starting from September 15, 50% of platform fees will be allocated to the final reward phase before the TGE, allowing users to increase their treasure chest level through trading, tasks, etc., to earn higher rewards. The OpenSea Foundation will announce the $SEA token TGE details in early October.

ZachXBT: Aqua suspected Rug Pull, involving an amount of approximately 4.65 million USD SOL

On the early morning of today, blockchain detective ZachXBT published a post stating that the Solana project Aqua is suspected of running away with funds, involving an amount of about 21,770 SOL (approximately 4.65 million USD). This project had previously received promotion from Meteora, Quill Audits, Helius, SYMMIO, Dialect, and several KOLs. A few hours ago, the relevant funds were split into four portions and transferred through an intermediary address to multiple instant trading platforms. Currently, the Aqua team has disabled the comment function on all posts on platform X.

SwissBorg was attacked by the SOL wallet, approximately $41 million was transferred.

According to The Block, the Swiss crypto platform SwissBorg was attacked due to a breach of its partner API, resulting in an attack on the SOL Earn Program, with losses amounting to approximately 192,600 SOL (around $41.3 million). The company stated that it will use its SOL reserves to help users recover most of the balance, and official security measures have been implemented, pausing relevant redemptions. They have also collaborated with white hat hackers and security teams to attempt to recover the stolen funds. This incident did not affect other Earn projects of SwissBorg or the funds within the app.

Coinbase will list SPX6900 (SPX) and Flock (FLOCK)

According to Coinbase Assets, Coinbase will add support for the Ethereum network ERC-20 token SPX6900 (SPX) and the Base network Flock (FLOCK). If liquidity conditions are met, Coinbase will launch the SPX-USD and FLOCK-USD trading pairs on September 9 at 9 AM Pacific Time or later, and will open them in phases based on asset supply. Support for SPX and FLOCK may be limited in certain jurisdictions.

MegaETH and Ethena jointly launched the native stablecoin USDm to subsidize sorter fees.

According to The Block, the Ethereum scaling solution MegaETH developed by MegaLabs is launching an on-chain stablecoin called USDm, which aims to replace traditional sorter margins and use reserve earnings to cover network operating costs. This model is built in collaboration with the decentralized finance protocol Ethena and aims to coordinate on-chain and ecosystem incentives by running sorters at cost and keeping transaction fees low and stable for users and developers. Currently, multiple Layer2 networks generate revenue by marking up sorter fees. USDm aims to address this issue: when projects launch on the mainnet, it will use reserve earnings from the stablecoin to pay for shared network costs. The first version of USDm will be issued on the USDtb protocol layer of Ethena. A MegaETH representative revealed to The Block that USDm will be redeemable for USDtb at launch, rather than providing direct fiat redemption. The team did not disclose the target fluctuating amount for covering daily operating costs, stating that these parameters will be determined over time. Regarding other revenue sources (such as MEV), MegaETH stated that related details will be announced before the mainnet launch.

Important data

MYX liquidated $69.1877 million in 24 hours, surpassing ETH, with a 334% increase in 24 hours.

According to Coinglass data, the MYX price has risen by 334% in the past 24 hours, surpassing $17.68, leading to a total liquidation amount across the network of $69.1877 million, exceeding Ethereum's $54.1029 million, making it the asset with the highest liquidation amount. A total of 216,918 people were liquidated globally, with a total amount reaching $386 million, among which the largest single liquidation occurred in the MYX/USDT trading pair on Bybit, valued at $4.7814 million.

WLD broke through 2 dollars, with a 24-hour increase of 61.6%.

According to OKX market data, WLD has broken through $2, with a 24-hour increase of 61.6%, now quoted at $2.04, reaching a new high since January 26. Previously, it was reported that Eightco plans to raise $250 million in a private placement to establish a Worldcoin reserve and has secured a $20 million strategic investment from BitMine.

Ark Invest increased its stake in BitMine by approximately $4.46 million, while reducing its stake in Robinhood by about $5.13 million.

According to The Block, Ark Invest bought approximately $4.46 million worth of BitMine Immersion Technologies (BMNR) shares through its three ETFs on Monday, with ARKK purchasing 67,700 shares, ARKW buying 21,890 shares, and ARKF acquiring 12,360 shares. BitMine is an Ethereum vault company, holding about 1.78 million ETH, and its stock price rose 4.16% to $43.79 that day. Meanwhile, ARKW sold 43,728 shares of Robinhood (HOOD), cashing out approximately $5.13 million. Robinhood's stock price increased by 15.8% to $117.28 after being included in the S&P 500 index.

Bitcoin spot ETF saw a net inflow of $368 million yesterday, with no net outflows among the 12 ETFs.

According to SoSoValue data, on September 8th Eastern Time, the total net inflow of Bitcoin spot ETFs reached $368 million, with no net outflows among the 12 ETFs. The Fidelity ETF FBTC had a single-day net inflow of $157 million, with a historical total net inflow of $11.934 billion; Ark Invest and 21Shares' ARKB had a single-day net inflow of $89.4675 million, with a historical total net inflow of $2.101 billion. As of now, the total net asset value of Bitcoin spot ETFs is $145.414 billion, accounting for 6.52% of Bitcoin's total market capitalization, with a historical cumulative net inflow of $54.856 billion.

25,562 MKR tokens transferred out from the Anchorage custody address, possibly heading to CEX.

According to Yujin, 25,562 MKR (approximately $42.6 million) were transferred from 10 Anchorage custody addresses to the address of an institutional business platform, which may flow to CEX. This batch of MKR was held in January 2024 at an average price of $2,073, and the current withdrawal price is $1,667, resulting in an unrealized loss of $10.38 million.

Financing/Merger

Digital asset infrastructure provider Tetra Digital Group completes approximately $10 million in financing.

According to Businesswire, Canadian digital asset infrastructure provider Tetra Digital Group announced the completion of approximately $10 million in financing, with investors including Urbana Corporation, Wealthsimple, Purpose Unlimited, Shakepay, ATB Financial, National Bank, and Shopify. As part of this investment, Tetra and its partners plan to become the first financial institution to launch a Canadian dollar-backed stablecoin after obtaining regulatory approval in early 2026. The new Tetra stablecoin will leverage Tetra Digital Group's institutional-grade custody infrastructure to provide stable, secure, and fully compliant digital currency to businesses and consumers, backed 1:1 by Canadian dollar reserves.

Inversion Capital, a private equity firm focused on blockchain, has completed a $26.5 million seed round financing, led by Dragonfly Capital.

According to official news, private equity firm Inversion Capital announced the completion of a $26.5 million seed round financing, led by Dragonfly Capital, with participation from VanEck, Lightspeed Faction, ParaFi Capital, Portal Ventures, Mirana Ventures, Metalayer Ventures, Volt Capital, HashKey Capital, Race Capital, Balaji Srinivasan, Wintermute Ventures, Moonrock Capital, Breed VC, Topology, Casey K. Caruso, Bodhi Ventures, Lvna Capital, Escape Velocity, Folius Ventures, Comfy Capital, as well as individuals and institutions like Mike Dudas, Bryan Pellegrino, Jason Yanowitz, Andrew Steinwold, DCF God, and Joshua Lim. Inversion Capital is a private equity firm dedicated to revitalizing traditional enterprises through the integration of blockchain infrastructure, particularly in sectors such as telecommunications and financial services. Their strategy includes acquiring traditional businesses, such as mobile virtual network operator (MVNO), and then deploying blockchain-based solutions to enhance efficiency through features like instant settlement and reduced operational costs.

Institutional Holdings

The listed company Lion Group plans to exchange all of its existing SOL and SUI assets for HYPE.

According to a report from PR Newswire, Lion Group Holding Ltd. (NASDAQ: LGHL) announced plans to convert all of its existing Solana (SOL) and Sui (SUI) assets into Hyperliquid (HYPE). This move aims to take advantage of market volatility to lower the average acquisition cost and accumulate HYPE at optimal prices.

Rectitude Holdings signs a standby equity purchase agreement worth approximately $32.6 million to initiate its Bitcoin treasury strategy.

According to Globenewswire, Nasdaq-listed company Rectitude Holdings announced that it has signed a standby equity purchase agreement worth approximately $32.6 million with Constantinople Limited to initiate a Bitcoin treasury strategy, with the funds raised to be used for purchasing Bitcoin and holding it long-term.

CleanCore invested $68 million to purchase over 285 million DOGE, and the stock price surged by 40% after hours.

According to The Block, NYSE-listed company CleanCore Solutions (ZONE) announced that it has purchased 285,420,000 Dogecoin (approximately 68 million USD) to establish the largest Dogecoin digital asset reserve and plans to increase its holdings to 1 billion within 30 days. This initiative is driven by a collaboration between House of Doge and CleanCore, aimed at enhancing the global application of Dogecoin. ZONE's stock price rose 40% after hours, with a market capitalization of approximately 50 million USD. Dogecoin is currently priced at around 0.24 USD, with a total market capitalization exceeding 36 billion USD, ranking seventh among cryptocurrencies.

Bitmine has received 8,001 ETH from Galaxy Digital again, worth 34.41 million USD.

According to Onchain Lens monitoring, Bitmine has received 8001 ETH from Galaxy Digital again, worth 34.41 million USD.

Longling Capital withdrew 5,000 ETH from Binance, worth 21.57 million USD.

According to on-chain analyst Yu Jin's monitoring, Longling Capital continues to buy ETH: after transferring 21 million USDT to Binance, they withdrew 5,000 ETH from Binance 10 minutes ago, totaling 21.57 million USD.

Strategy increased its holdings of 1,955 Bitcoins last week for a total price of $217.4 million.

According to official news, Strategy (formerly MicroStrategy) acquired 1,955 bitcoins last week at a price of approximately $217.4 million, with an average purchase price of about $111,196. As of September 7, 2025, the bitcoin yield has reached 25.8%. As of September 7, 2025, Strategy holds 638,460 bitcoins, with an average purchase price of about $73,880, totaling approximately $47.17 billion.

Eightco plans to raise $250 million through a private placement to establish a Worldcoin reserve and has secured a $20 million strategic investment from BitMine.

According to CNBC, Dan Ives, the global technology research head at Wedbush Securities, has joined a new company that focuses on accumulating Worldcoin (WLD). Currently, the small company Eightco Holdings, which trades on NASDAQ under the ticker “OCTO,” announced on Monday that Dan Ives has now been appointed as the chairman of the company’s board. The company also announced a $250 million private placement to implement a purchasing strategy focused on the WLD token and to use it as a primary reserve asset. The issuance is expected to conclude around September 11, at which point the company plans to change its ticker symbol to “ORBS.” Eightco announced on Monday that BitMine has also made a strategic investment of $20 million in Eightco, marking the launch of its “moon landing plan” strategy aimed at supporting innovative ideas that can enhance the Ethereum ecosystem.

Forward Industries announces a $1.65 billion private placement to initiate its Solana financial strategy.

According to Businesswire, global design company Forward Industries, Inc. (NASDAQ: FORD) announced that it will commit $1.65 billion in cash and stablecoin for a private equity investment (“PIPE”) led by Galaxy Digital, Jump Crypto, and Multicoin Capital, to initiate a Solana-focused digital asset fund management strategy, aligning the company with the rapidly growing Solana ecosystem. One of the company's existing largest shareholders, C/M Capital Partners, LP, is also participating in this transaction. Galaxy, Jump Crypto, and Multicoin will provide capital and strategic support to help Forward Industries build and execute its Solana financial strategy.

South African listed company Altvest plans to raise $210 million to purchase Bitcoin.

According to Bloomberg, South African listed company Altvest Capital Ltd. plans to raise $210 million to purchase Bitcoin and establish a cryptocurrency treasury reserve, hoping to benefit from the nearly doubling of digital asset prices over the past year. The company's founder and CEO, Warren Wheatley, stated in an interview that the company will also be renamed “Africa Bitcoin Corp.” and that it is raising funds from overseas and local investors, seeking to list internationally. Altvest's subsidiary, Altvest Bitcoin Strategies Pty Ltd., will represent CAEP Asset Managers Pty Ltd., which is authorized by the Financial Sector Conduct Authority, to provide cryptocurrency services. Altvest has a market capitalization of 52.8 million rand ($3 million), and it will treat cryptocurrency as a core reserve asset on its balance sheet, similar to how companies traditionally hold cash or gold.

Artelo Biosciences announces a $9.475 million private placement plan to launch its financial strategy on Solana.

NASDAQ-listed company Artelo Biosciences (NASDAQ: ARTL) announced the launch of a public offering of common stock and/or pre-funded warrants, with R.F. Lafferty & Co., Inc. acting as the sole book-running manager. Additionally, Artelo announced a private fundraising plan worth $9.475 million, which will initiate a financial strategy based on the Solana blockchain, becoming one of the first companies to adopt Solana cryptocurrency as a core reserve asset.