Crypto Morning Brief: Plasma to launch TGE on September 25, BNB breaks through $1,000
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Crypto Morning Brief: Plasma to launch TGE on September 25, BNB breaks through $1,000
Nvidia will acquire $5 billion worth of Intel shares at $23.28 per share.
Navigating Web3 tides with focused insightsAuthor: TechFlow
Yesterday's Market Dynamics
U.S. initial jobless claims for the week ending September 13: 231,000, vs. expected 240,000
According to Jin10 News, U.S. initial jobless claims for the week ending September 13 came in at 231,000, compared to a previous value of 263,000 and an expected 240,000.
Brian Quintenz’s nomination faces hurdles; White House considering more CFTC chair candidates
According to Bloomberg, as Brian Quintenz’s confirmation process to lead the U.S. Commodity Futures Trading Commission (CFTC) stalls, the White House is now considering additional candidates to head the regulatory agency.
Sources familiar with the matter said discussions around new potential candidates for the CFTC chairmanship have intensified in recent weeks, including government officials focused on cryptocurrency policy.
BNB breaks above $1,000, hitting a new all-time high
Data from Binance shows BNB has surpassed $1,000, currently trading at $999.98, setting another record high with a daily gain of 4.69%.
SBF’s X account疑似activity surges, follows spike in user follows
Monitoring of SBF’s X account indicates unusual activity, with a sudden surge in following many users. Affected by this, FTT broke above 1 USDT, currently at 1.17 USDT, up 48% in the past hour.
Plasma to launch TGE on September 25
Plasma officially announced its mainnet Beta will go live at 8:00 AM Eastern Time on September 25, 2025, alongside the release of its native token XPL. Key highlights:
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$2 billion in stablecoin liquidity on day one, making it the 8th largest blockchain by stablecoin liquidity
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XPL token distribution will occur in two phases:
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Non-U.S. participants will receive allocations at mainnet Beta launch
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U.S. participants will receive allocations on July 28, 2026 (12 months after public sale ends)
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Platform will reserve 2.5 million XPL tokens for Stablecoin Collective members
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OG members receive 30,000 XPL
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Stablecoin Collective contributors receive 15,000 XPL
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Early contributors receive 7,500 XPL
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Monad launches ecosystem incentive program Momentum; first round applications close September 28
Monad has announced the launch of its ecosystem incentive program, Monad Momentum, with the first round of applications closing on September 28. The Monad Momentum program uses an incentive-driven matching model, meaning recipient projects must first commit their own resources, with Monad Momentum acting as a supplement. Teams must demonstrate a strong track record of delivering high-quality products, extensive experience, and effective capital allocation and anti-gaming measures.
NBA star Tristan Thompson to co-launch player tokenization platform basketball.fun with Somnia
According to CoinDesk, NBA player Tristan Thompson, along with Improbable CEO Herman Narula and co-founder Hadi Teherany, will launch a Web3 basketball fan engagement (player tokenization) platform called basketball.fun in October.
The platform, built on the Layer-1 blockchain Somnia launched on September 2, will tokenize NBA players, with values fluctuating in real-time based on sentiment and performance. Fans can build lineups, speculate on emerging talent, and earn rewards based on predictions and engagement.
Teherany noted the app will not launch a native token but will focus instead on infrastructure, gamification, and fan empowerment.
NBA star Durant bought Bitcoin on Coinbase, forgot password and has yet to sell
According to EssentiallySports, NBA star Durant’s agent Rich Kleiman revealed during an event with Durant that he helped Durant purchase Bitcoin in 2015. However, they forgot the account password, leaving the Bitcoin still held in Durant’s account.
Kleiman stated: “After Durant joined the Warriors, he attended a birthday dinner hosted by a16z’s founder, who encouraged him to buy Bitcoin. He then created a Coinbase account. The problem now is we forgot the password. Luckily, those Bitcoins haven’t been sold, and Bitcoin’s price continues to surge.”
Jia Yueting: U.S. SEC approves simplified crypto ETF listing pathway, opening doors for assets like Solana
Faraday Future founder Jia Yueting commented on the U.S. SEC approving a universal ETF listing standard, stating: “The U.S. Securities and Exchange Commission has taken a historic step: spot cryptocurrency ETFs beyond BTC/ETH now have a streamlined 75-day listing path, opening the door for assets like Solana. Regulatory frameworks are now catching up with strategies already being implemented by forward-thinking corporate treasuries: treating diversified digital assets as core components of their balance sheets.”
NVIDIA to acquire $5 billion worth of Intel shares at $23.28 per share
NVIDIA will invest $5 billion in Intel at $23.28 per share. Intel’s U.S. stock surged over 20% in pre-market trading. NVIDIA and Intel announced a strategic partnership on September 18. In the data center space, Intel will customize x86 CPUs for NVIDIA, which NVIDIA will integrate into its AI infrastructure platform and bring to market. In personal computing, Intel will manufacture and supply x86 system-on-chips (SoCs) integrated with NVIDIA RTX GPUs.
Decentralized exchange GRVT raises $19 million in Series A led by ZKsync and Further Ventures
According to CoinDesk, GRVT, a hybrid decentralized exchange built on ZKsync, has announced a $19 million Series A funding round. The round was co-led by GRVT’s technology partner ZKsync and Further Ventures, an investment firm backed by Abu Dhabi’s sovereign wealth fund.
GRVT’s mainnet Alpha officially launched on the Ethereum Layer-2 network ZKsync in late 2024. As a hybrid DEX, GRVT aims to combine the high performance of centralized exchanges with the security and transparency of decentralized exchanges to deliver a superior trading experience.
GRVT plans to use the new funds to expand its product offerings, including cross-exchange vaults, cross-chain interoperability, options markets, and real-world assets.
Market Data
Suggested Reading
Cash Flow Valuation of HyperLiquid: Could $HYPE Reach $385?
This article discusses HyperLiquid, a decentralized crypto trading platform whose unique relief fund mechanism returns 93% of trading fees directly to token holders, making $HYPE suitable for valuation via discounted cash flow (DCF). It analyzes $HYPE’s cost of capital, market-implied pricing, and future growth potential, suggesting intrinsic value could significantly exceed current prices under various bull scenarios. The article also explores the potential upside of the USDH stablecoin and other value drivers.
Analyzing STBL: Stablecoins + NFT Yield Rights—Gimmick or Innovation?
This article examines STBL’s novel stablecoin proposal, which mints fully collateralized stablecoins using real-world assets (RWA) while allowing users to retain asset yields. STBL’s three-token design includes governance token $STBL and two primary instruments: fully collateralized stablecoin $USST and yield-bearing NFT $YLD. With the stablecoin market growing rapidly, STBL offers a more transparent and predictable cash flow alternative through on-chain tokenization of treasury bonds and other RWAs.
Observing the On-Chain AI Trench: Narrative Shifts, What’s Next to Explode?
This article provides an in-depth analysis of the latest trends and developments in the on-chain AI ecosystem, covering shifts in market sentiment, evolving narratives, investment opportunities, and future directions. It explores the evolution of AI agent ecosystems from hype to productization and focuses on key innovations and challenges in decentralized AI, DeFAI, and predictive AI sectors.
Opinion: The GENIUS Act Is Now Law—Banks Shouldn’t Try to Rewrite It
This article discusses how the GENIUS Act has become law, aiming to strengthen consumer protection, ensure regulatory oversight, and maintain financial stability. It argues traditional financial institutions should embrace competition rather than suppress innovation through anti-competitive measures. There is no statistically significant link between stablecoin adoption and community bank deposit outflows, as stablecoin reserves remain within the traditional financial system, supporting broad liquidity and credit. Stablecoins represent innovation that protects banking system stability and creates competitive advantages. Policymakers should uphold the bipartisan framework and advance further development in finance.
This article analyzes the performance of major assets over the past decade (2015–2025), including Bitcoin (BTC), Ethereum (ETH), gold, the S&P 500, and U.S. Treasuries. It examines the return and risk characteristics of these assets, summarizes their behavior across different macroeconomic cycles, and offers strategic portfolio construction recommendations.
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