Category: crypto

KindlyMD’s NAKA shares dropped to $1.28, down 54% in 24 hours and over 90% in a month. The healthcare-turned-Bitcoin company faces pressure from equity dilution plans and investor fatigue. Grayscale’s report shows growing exhaustion towards digital asset treasury companies. Despite this, new altcoin treasuries are emerging, diluting existing shareholders.

Forward Industries (FORD) acquired over 6.8 million SOL tokens for its Solana Treasury Strategy, making it the top corporate treasury holding Solana. The tokens were purchased at an average price of $232 each, totaling about $1.58 billion. Backed by investors like Galaxy Digital, FORD aims to capture value from the growing blockchain ecosystem.

Base announced the exploration of a native network token during its Base Camp event on Sept. 15, aiming to achieve complete decentralization, align builders and creators as economic participants, and push boundaries of crypto. The potential token will accelerate the transition to complete decentralization and incentivize ecosystem participation on Coinbase’s Ethereum layer-2 network.

REX-Osprey’s Dogecoin and XRP ETFs will begin trading on September 18, with the TRUMP, BONK, and Bitcoin funds lacking confirmed dates. The ETFs use a RIC framework, providing operational flexibility and meeting regulatory requirements. The SEC approved five REX-Osprey ETFs, with potential for more approvals in October. Regulatory delays may occur despite approval.

Ripple is applying for an OCC national trust bank charter to establish “Ripple National Trust Bank” in New York, supporting digital-asset activities like RLUSD. If approved, this would have implications for XRP. RLUSD has a market cap of $730 million and could impact XRP usage on XRPL based on market structure and regulation.

Solana-based memecoin launchpad Pump.fun has seen a surge in adoption, with its PUMP token reaching an all-time high of $0.0086 before settling at around $0.008. The platform’s relaunched livestreaming feature has driven increased user engagement and revenue. Creator earnings on Pump.fun have also reached record levels, with the top earners making between $24,100 and $123,000…

The Ethereum Foundation is launching a new team focused on decentralized artificial intelligence to make Ethereum a financial settlement layer and a trusted foundation for intelligent systems and secure digital interactions. The team will prioritize building an AI economy on Ethereum and advancing a decentralized AI stack, collaborating with ecosystem projects and academic researchers.

Validators on Hyperliquid voted to award the USDH ticker to Native Markets, allowing them to issue the network’s stablecoin. Native Markets won against competitors like Ethena, Paxos, and Agora with a detailed reserve structure and compliance safeguards. They plan to launch a capped testing phase before opening up unlimited mints and redemptions.

Polkadot’s DOT token fell 5% despite the approval of a governance proposal setting a hard cap of 2.1 billion DOT. This ends the open-ended issuance model, aiming to introduce scarcity and reduce dependence on perpetual issuance. The new inflation schedule will taper over two years, with 1.91 billion DOT expected in circulation by 2040.

London Stock Exchange Group has launched a blockchain-based platform for private funds, completing the first transaction with MembersCap. Developed with Microsoft, the platform aims to streamline issuance, subscriptions, and post-trade servicing. The UK is also opening private markets with initiatives like PISCES, aiming to improve efficiency and reduce costs in fund administration.