Standard Chartered Begins Custody Services for Digital Assets in UAE
Standard Chartered has begun offering digital asset custody services in the United Arab Emirates, with Brevan Howard Digital, the digital asset division of British hedge fund Brevan Howard, becoming its first client. The bank chose the UAE because of the country’s strong digital asset adoption and balanced approach to financial regulation, and aims to increase institutional crypto adoption. Standard Chartered is also expanding its presence in the digital asset sector by supporting crypto firms such as Zodia Markets and Zodia Custody.
Harris’ Chances of Winning Tied with Trump in Polymarket
After the last presidential debate between Kamala Harris and Donald Trump, the probability of Harris winning the election on Polymarket has risen to 49%, equaling Trump’s. Bettors rate Harris’ chances of winning the debate at 94%, while official poll results have not yet been released. During the debate, Bitcoin briefly rose above $58,000 but later fell back to around $56,700. Meanwhile, politically themed cryptocurrencies such as Super Trump and Kamala Horris lost value, with market experts attributing these moves to the outcome of the debate and the changing sentiment among speculators.
Ethereum Stablecoin Volume Reaches $1.46 Trillion as DeFi Demand Soars
The volume of stablecoins on the Ethereum network reached a record high, rising from $650 billion to $1.46 trillion at the beginning of this year. DAI led the way with a volume of $960 billion, while USDT and USDC still dominate after fraudulent transactions were eliminated. PYUSD also rose from $500 million to $2.4 billion thanks to PayPal’s incentives. This increase in stablecoin usage shows that the DeFi ecosystem is maturing and a bridge is being built between traditional finance and the crypto world.
SEC’s Crypto Industry Fines Surpass $7.4 Billion Following Terraform Penalty
Since 2013, the crypto industry has been hit with more than $7.4 billion in fines, with the $4.47 billion settlement from Terraform Labs reaching $4.7 billion in 2024. Despite fewer fines this year (30 in 2023, 11 this year), the increase in fines reflects a focus on high-impact cases. The SEC has issued 148 fines since 2013, with the $1.2 billion fine imposed on Telegram in 2020 being the second-largest fine after Terraform.
Bitcoin Miner Solves Block Alone and Gets $180,000 Reward
A Bitcoin miner from the Solo CK pool has successfully solved block 860749, earning a reward of approximately $180,000. The block contained 5,935 transactions, and the miner received a reward of 3,169 Bitcoins. Solo CK combines the hashing power of smaller miners, but gives the reward to the miner who solved the block. The miner succeeded using only 0.098% of the total network power, and Solo CK miners have solved 14 blocks in the past year, earning a reward of $3.4 million.
ENS Integrated with PayPal and Venmo
Venmo and PayPal users will now be able to transfer crypto using ENS, replacing complicated wallet addresses with easy-to-remember names like “name.eth.” The integration, announced by ENS Labs, aims to reach over 270 million users in the US. PayPal’s presence in the blockchain industry continues to grow, with the market value of the company’s stablecoin PYUSD surpassing $1 billion. ENS Labs has moved to a Layer-2 network to increase transaction speeds and lower gas fees, and is in a patent dispute with Unstoppable Domains.
WisdomTree Withdraws Spot Ether ETF Application After Three Years
WisdomTree has withdrawn its Spot Ethereum ETF application filed with the SEC in 2021 after three years. The company confirmed that no securities were issued under the application and requested that the filing fee it paid be used for future filings. On the same day, VanEck announced that it would be shutting down its futures-based Ethereum ETF due to low demand and performance. The fund’s assets will be returned to investors by September 23.
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BITCOIN (BTC)
BTC is priced at $56,400 with a 2.19% loss in value as of the morning hours. A drop to $52,555 was made, but it could not be sustained. An increase to $58,000 was made again yesterday evening. If it can be sustained above $56,500, a rise to $60,000 can be seen again. If $52,555 is broken downward, a pullback to $49,000 may occur.
ETHEREUM (ETH)
ETH is priced at $2330 with a 2.42% loss in value as of the morning hours. A drop to $2155 occurred and could not be sustained at this level. An increase to $2400 occurred last night. If $2380 is broken upwards, prices above $2550 may be seen again. If the $2150 level is lost, a pullback to $2000 may occur.
RIPPLE (XRP)
XRP is priced at $0.532 with a 1.59% loss in value as of the morning hours. $0.55 was lost. A pullback to $0.5035 occurred. In pullbacks, a pullback to $0.48 may now occur. If pricing above $0.55 continues, increases to $0.60 may be seen.
AVALANCHE (AVAX)
AVAX is priced at $23.53 with a 3.41% loss in value as of the morning hours. Pricing above $23 is available again. With the reaction it received from the $20 region, it rose to $24.60. If the rise continues, $25 seems to be the likely location to receive the first reaction. In pullbacks, $22.82 and $21.88 are strong support.
SOLANA (SOL)
SOL is priced at $132.28 with a 2.48% loss in value as of the morning hours. There was another pullback from $162 to the $127 region. It reacted from this level and rose to $139, but it could not be sustained. If the pullback continues, the $115 region seems strong.
OUNCE GOLD
The ounce of gold is priced at $2519.77 with a 0.12% increase in value as of the morning hours. After the ATH was renewed, prices below $2500 were seen but it was quickly regained. The first resistance zone of $2505 was broken upwards and the movement continued. ATH can be renewed with the data. The range of $2505 and $2500 seems strong as strong support in pullbacks.
OUNCE SILVER
Silver is priced at $28.47 with a 0.13% gain as of the morning hours. The downward trend continues in the short term. $27.40 is a region that is likely to work as support. $28.40 was our first resistance level and was broken upwards. The next resistance area appears to be the $29 area.
