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Australian Retirement Funds Have ‘Missed the Rally’ in Crypto This Year

by admin September 4, 2025

In brief

Crypto balances in the country’s self-managed pension funds doubled in early 2024 before flattening around $3B by June 2025.
Listed shares, cash, and property remain the dominant allocations in SMSFs.
Such funds are “cautious by design,” Decrypt was told.

Australian self-managed retirement funds held A$3.02 billion (US$1.9 billion) in cryptocurrencies at the end of June, but fresh data suggest they largely sat out this year’s digital-asset rally.

These vehicles, known as self-managed superannuation funds, are private pension accounts that allow Australians to manage their own retirement savings instead of entrusting them to large industry or retail funds.

Together, these funds account for about a quarter of the country’s $4.3 trillion (US$2.8 trillion) superannuation pool, according to data released by the Australian Prudential Regulation Authority last week.

Such a scale makes SMSFs a crucial component of household wealth for Australians.

However, the current crypto footprint through these funds remains small next to over A$1 trillion managed in Australia’s pension system, according to the country’s tax office report released Wednesday.

Within SMSFs, listed shares remain the largest holding at $296 billion (US$193.1 billion), followed by cash and deposits at $171billion (US$111.6 billion), property at $105 billion (US$68.5 billion), and unlisted trusts at $133 billion (US$86.7 billion).

Crypto in SMSFs surged from $1.7 billion (US$1.1 billion) in March 2024 to $3.1 billion (US$2 billion) by June that year, then held steady at the current figure of roughly $3 billion (US$1.9 billion).

Despite the increase, crypto makes up less than 0.3% of SMSF assets pegged to be over $1 trillion (US$652.5 billion), and an even smaller fraction of Australia’s $4.3 trillion (US$2.8 trillion) pension system.

The limited share reflects how SMSFs are “cautious by design,” Jeremy Kinstlinger, co-founder of Sydney-based liquidity and execution services provider Argamon Markets, told Decrypt.

“Until crypto feels mainstream and well regulated, it’ll remain a small part of retirement portfolios,” Kinstlinger said.

Asked about the slowdown, Kinstlinger said SMSFs followed crypto’s all-time highs early last year but have pared down since then.

“In early 2024, crypto surged to all-time highs and SMSFs followed the trend,” Kinstlinger explained. “But after that peak, most stepped back and haven’t re-entered, which meant they missed the rally into the second half of the year.”

The restrained take-up in SMSFs contrasts with the wider regional momentum, as Asia-Pacific crypto volumes reached $2.36 trillion (US$1.5 trillion) in the year to June, up 69% after growing 27% the previous year, according to a 2025 crypto adoption report from blockchain analytics firm Chainalysis.

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September 4, 2025 0 comments

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Australians trim crypto allocations in SMSF retirement funds by 4%

by admin September 4, 2025

Australians have shaved nearly 4% off their crypto holdings in Self-Managed Super Funds over the past year.

Summary

SMSF crypto holdings in Australia fell 4% year-on-year.
Total SMSF crypto allocations remain up 40% compared to 2023.

Data published by the Australian Taxation Office on Sept. 3 reveals that the total crypto holdings across these funds, which were at A$3.119 billion in June last year, were down to A$3.018 billion in 2025.

SMSFs are private retirement funds that let members directly control how their superannuation is invested. This means they are able to allocate a portion towards assets like cryptocurrencies.

Traditionally, assets like shares, property, and term deposits are favored, but in recent years, a growing number of trustees have dipped into digital assets, lured by the promise of high returns and portfolio diversification.

Interestingly, Australians reduced their crypto exposure during a time when the global cryptocurrency sector was regaining momentum. Bitcoin climbed 60% over the same period.

Yet, when looking at the bigger picture, the number still reflects a major increment from where things stood just two years ago. Back in June 2023, total SMSF crypto holdings sat at roughly A$2.14 billion, which means current numbers are up approximately 40% over the longer run.

Part of this growth may have been influenced by changing investor dynamics, especially as young and tech-savvy Australians are beginning to reshape retirement planning on their own terms.

SMSFs have long been dominated by members over 35, with the largest share aged between 75 and 84. However, younger investor are now entering the space earlier, and they’re bringing their appetite for digital assets with them.

According to data from Independent Reserve, over half of Australians aged 25 to 34 already hold some form of crypto, making them the most engaged age group in the market.

This means that with time, cryptocurrencies may have a more natural path into long-term investment strategies, including retirement planning. As a result, the SMSF numbers could witness a drastic change over the coming years.

Coinbase, OKX, target Australia’s pension market

As previously covered on crypto.news, Australia’s A$4.3 trillion pension market has already started drawing in major global exchanges, with Coinbase and OKX rolling out services tailored for SMSF investors looking to add crypto to their retirement portfolios.

Both of the companies have noticed more than expected demand for their products. OKX, for instance, has been offering SMSF onboarding services since June and says early interest has exceeded internal projections.

Coinbase, which is yet to launch its SMSF-related services, reported having over 500 investors already on its waitlistCoinbase, which is yet to launch its SMSF-related services, reported.

And, the trend is not isolated to just Australia. Across the globe, crypto is gradually making its way into mainstream retirement planning.

The United States has allowed cryptocurrencies to be included in 401(k) retirement plans; meanwhile, in the UK, a recent survey found that 27% of adults are open to including crypto in their retirement portfolios.

Last year, a separate survey conducted in India found that 45% of locals with a retirement plan had invested in cryptocurrencies.

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September 4, 2025 0 comments

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Clarity Act Gains Bipartisan Support as Senate Weighs Next Steps

by admin September 4, 2025

The debate over U.S. digital asset regulation is gaining momentum as lawmakers push for clearer rules. Representative French Hill revealed that the Clarity Act, aimed at shaping digital asset market structure, received overwhelming bipartisan support in the House.

In an interview with Fox Business, Hill said that 78 Democrats backed the bill, alongside strong Republican support. The legislation now moves to the Senate, where discussions continue under the leadership of Senator Tim Scott. Hill urged the Senate to “consider taking up the Clarity Act in their process and simply make improvements to it.”

NEW: Chairman @RepFrenchHill on digital asset market structure legislation:

“The CLARITY Act in the House, which I wrote, got 78 Democrat votes here in the House. … We got such overwhelming support by Democrats and Republicans. … I would hope that the Senate would consider… pic.twitter.com/58gIMZMPIN

— Financial Services GOP (@FinancialCmte) September 3, 2025

Senator Scott is optimistic that between 12 to 18 Democrats might support a framework for the crypto market. Additionally, prominent figures like Senators Kirsten Gillibrand and Cynthia Lummis are playing an active role in this effort.

On this matter, Hill said he is hopeful that the bill could be passed in just a few weeks, especially considering the pressing need to effectively regulate digital assets.

Concerns Over Fed’s Role and Stablecoins

As support for crypto legislation continues to grow, worries about its effects on traditional finance remain. During the Kansas City Fed’s Jackson Hole Symposium, Fed Governor Mickey Bowman described digital assets as a “seismic shift” in the understanding of money and value.

He cautioned that if people don’t adapt, blockchain systems might completely sidestep the banking industry. Hill responded to these concerns by highlighting the role banks play in issuing dollar-backed stablecoins. He clarified that these stablecoins would mainly facilitate cross-border trade instead of replacing banks altogether.

“A dollar back payment stable coin is simply a new payment method,” Hill said. These stablecoins, he added, would require issuers to hold assets in banks or U.S. Treasury bills, supporting short-term government debt markets.

CBDC Debate Intensifies

According to him, central banks are looking into government-backed digital currencies, such as the digital euro in Europe. Hill emphasized that the U.S. should lean towards solutions from the private sector, showing the need for consumer choice and financial privacy.

Meanwhile, the House recently passed the Anti-CBDC Surveillance State Act, which seeks to block the Federal Reserve from launching a digital dollar. However, competing proposals, including a revision to the National Defense Authorization Act, are still under debate.

The Clarity Act could reshape U.S. crypto regulation by bridging partisan divides. Hence, the coming changes will determine whether Congress sets a clear path for digital assets.

Also Read: Federal Reserve to Host Payments Innovation Conference on Oct. 21

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September 4, 2025 0 comments

Large open bank vault door symbolizing secure bitcoin storage

GameFi Guides

Solana Community Approves Alpenglow Upgrade

by admin September 4, 2025

Welcome to The Protocol, CoinDesk’s weekly wrap of the most important stories in cryptocurrency tech development. I’m Margaux Nijkerk, a reporter at CoinDesk.

In this issue:

Solana Set for Major Overhaul After 98% Votes to Approve Historic ‘Alpenglow’ Upgrade
Ethereum Foundation to Unload Another 10K ETH Following SharpLink Deal
‘OP_CAT Isn’t My Invention. It’s Satoshi’s,’ Says Bruce Liu as OPCAT_Labs Pushes to Reboot Bitcoin’s Code
Ethereum to Close Its Largest Testnet, Holesky, After Fusaka Upgrade

Network News

ALPENGLOW APPROVED BY SOLANA COMMUNITY: The Solana community voted overwhelmingly in favor of the long-awaited Alpenglow upgrade, bringing the network one step closer to the most significant technical transformation in its history. According to Solana Status on X, 98.27% of SOL stakers that voted approved the proposal, with only 1.05% voting against and 0.36% abstaining. In total, 52% of the network’s stakers participated in the vote. The upgrade introduces a new consensus protocol designed to dramatically improve transaction finality and network efficiency. At the heart of Alpenglow are two new components, Votor and Rotor, which will replace Solana’s existing systems, Proof-of-History and TowerBFT. Currently, Proof-of-History timestamps transactions to preserve their order without slowing the network, while TowerBFT handles the voting process among validators. Alpenglow will overhaul both systems. Votor will slash transaction finality times from over 12 seconds to around 150 milliseconds, delivering near-instant confirmation for users. Rotor, scheduled for a later rollout, will minimize data transfers between validators, a crucial improvement for high-demand applications such as decentralized finance (DeFi) and blockchain-based gaming.With approval secured, Solana is now preparing to implement the upgrade, a milestone expected to unlock greater speed, resilience, and scalability across its ecosystem. — Margaux Nijkerk Read more.

EF TO SELL 10K ETH OVER NEXT FEW WEEKS: The Ethereum Foundation (EF) shared in a post on X on Tuesday that it plans to sell 10,000 ETH through centralized exchanges over the next several weeks to support work toward research & development, ecosystem grants and related donations. According to CoinMarketCap, the ETH will amount to roughly $43 million at Tuesday’s prices. “Conversions will take place over multiple smaller orders, rather than as a single large transaction,” the EF wrote in the post on X.The news follows the EF’s rollout of a new treasury policy in June that caps annual operational spending (opex) at 15%, establishes a multiyear reserve buffer and sets a gradual pace toward even leaner spending long-term. The foundation sold an additional 10,000 ETH to SharpLink Gaming in July, making the online casino marketing firm the first publicly traded company to buy ETH from a key firm in the network’s ecosystem. — Margaux Nijkerk Read more.

A CHAT WITH BRUCE LIU ON OP_CAT: Without OP_CAT, Bruce Liu says Bitcoin is as “useful as a jumbo jet without wings” capable of much more than it’s allowed to do, but stuck on the ground while Ethereum and Solana soar. Liu, the founder of OPCAT_Labs, says a single opcode, OP_CAT, could transform bitcoin from static digital gold into programmable money that rivals other layer-1 chains. OP_CAT is a long-disabled opcode in Bitcoin’s code that, if re-enabled, would allow developers to concatenate data in scripts and unlock new possibilities, from vaults and covenants to decentralized exchanges and zero-knowledge proofs. The Bitcoin blockchain, if OP_CAT was re-enabled, would be as programmable as Ethereum or Solana, said Liu. “OP_CAT is not new code. It was never deleted, just commented out and disabled. We are not adding my opcode or somebody else’s. It’s Satoshi’s,” Liu told CoinDesk during an interview on the sidelines of BTC Asia in Hong Kong. — Sam Reynolds Read more.

HOLESKY SUNSET IS COMING AFTER FUSAKA UPGRADE: A fresh slate of Ethereum testnets is replacing Holesky, the once-massive staging ground now set for shutdown after two years of service.The wind-down will occur two weeks after the Fusaka upgrade is finalized later this year, at which point client and infrastructure teams will cease providing support. Fusaka is set to make Ethereum rollups cheaper and faster by spreading out the “data storage work” more evenly across validators. Holesky went live in 2023 to stress-test Ethereum’s proof-of-stake machinery at scale. It quickly became the largest public testnet, providing thousands of validators with a platform to trial upgrades before they were deployed on the mainnet. Major milestones, such as the Dencun and Pectra upgrades — which lowered transaction costs and upgraded validator efficiency, among other features — were run through Holesky first. However, cracks began to appear as the network aged. Holesky encountered “inactivity leaks” after Pectra’s activation in early 2025, a term referring to validators going offline in large numbers, which created a significant backlog for those attempting to exit. The result was months-long queues that made it impractical to test the full validator lifecycle. For developers needing fast feedback loops, Holesky had become more of a roadblock than a tool. — Shaurya Malwa Read more.

In Other News

Digital asset investment firm Galaxy Digital (GLXY) is bringing its stock onto blockchain rails as equity tokenization gains steam.The Nasdaq-listed company is working with blockchain firm Superstate to make its Class A common stock available as tokens on the Solana network through Superstate’s Opening Bell platform. The arrangement preserves the full rights of SEC-registered equity while allowing investors to hold and transfer shares on-chain, the firms said. Tokenization of traditional assets has gained traction across the financial sector as firms experiment with moving equities, bonds and money-market funds onto blockchain infrastructure. A slew of tokenized equity products hit the market in the past few months predominantly for EU investors, including by Robinhood, Gemini with Dinari and xStocks by Kraken and Backed Finance. However, some offerings drew concerns such as limited shareholder rights and fragmented regulations. Unlike synthetic or wrapped tokenized stocks that operate without issuer involvement, Galaxy’s shares are issued directly on-chain and tracked by Superstate as a transfer agent, recording changes to the shareholder register instantly as tokens move between verified wallets. This approach seeks to combine compliance with blockchain features such as fast settlement, transparency and around-the clock-availability, the firms said. — Kristzian Sandor Read more.
Ondo Finance launched its tokenized equity platform dubbed Ondo Global Markets, offering non-U.S. investors access to more than 100 U.S. stocks and exchange-traded funds (ETFs) on-chain. The tokenized equities, first announced in February, have gone live on Ethereum and are backed by securities held by U.S.-registered broker-dealers, the firm said.The offering includes crypto token versions of Apple (AAPL), Nvidia (NVDA) and the QQQ ETF among others. Investors in Asia-Pacific, Europe, Africa and Latin America can mint and redeem shares around the clock during trading days, with access to underlying exchange liquidity. The service is not available for U.S. users. The tokens are designed to move freely between wallets, exchanges and decentralized finance (DeFi) protocols. The firm has also partnered with BitGo, Ledger, Chainlink and other infrastructure providers to support the rollout.— Kristzian Sandor Read more.

Regulatory and Policy

European Central Bank (ECB) President Christine Lagarde urged European Union (EU) lawmakers to impose stringent requirements and safeguards on foreign stablecoins.
Lagarde argued they should comply with the bloc’s regulatory standards before operating on EU soil, she said in a speech at a European Systemic Risk Board (ESRB) conference in Frankfurt. The ECB president cautioned that during a stablecoin run, investors would be more likely redeem in jurisdictions with stronger protections, such as the EU, where Markets in Crypto-Assets (MiCA) regulation prohibits redemption fees, potentially depleting local reserves. “The risk of liquidity mismanagement across jurisdictions is one we have seen before. Banking groups, for example, are already required to ensure that reserves are available in the part of the group where and when they are needed,” Lagarde said. — Jamie Crawley Read More.
The U.S. government has begun using blockchains to disseminate key economic data, starting with the U.S. Department of Commerce’s release of gross-domestic product (GDP) numbers, which was described as a “proof of concept” for doing more in the future. “We are making America’s economic truth immutable and globally accessible like never before, cementing our role as the blockchain capital of the world,” Secretary of Commerce Howard Lutnick said in a statement that announced the new approach to distributing the data. In a deliberate effort not to pick blockchain favorites, the department put out last week’s data on Bitcoin, Ethereum, Solana, TRON, Stellar, Avalanche, Arbitrum One, Polygon PoS and Optimism, identifying the transaction hashes for each in its announcement. The agency said it also sent the data through Chainlink and Pyth and noted that exchanges Coinbase, Gemini and Kraken helped out.— Jesse Hamilton Read more.

Calendar

Sept. 22-28: Korea Blockchain Week, Seoul
Oct. 1-2: Token2049, Singapore
Oct. 13-15: Digital Asset Summit, London
Oct. 16-17: European Blockchain Convention, Barcelona
Nov. 17-22: Devconnect, Buenos Aires
Dec. 11-13: Solana Breakpoint, Abu Dhabi
Feb. 10-12, 2026: Consensus, Hong Kong
Mar. 30-Apr. 2: EthCC, Cannes
May 5-7, 2026: Consensus, Miami

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September 4, 2025 0 comments

GameFi Guides

Bitcoin’s Price Is Flat, but the Hash Rate Just Hit a Record High

by admin September 4, 2025

In brief

Bitcoin’s single-day hash rate—a measurement of computing power—hit an all-time high of 1.279 on Tuesday.
The hash rate also reached a moving average record for seven days.
Miners, who work to secure Bitcoin’s network, have faced various challenges.

Bitcoin‘s single-day hash rate on Tuesday hit a new high of 1.279 zettahash per second (ZH/s), according to mining data platform CoinWarz, even as the price of the asset remained roughly flat over the past 24 hours.

The hash rate also reached a moving average high for seven days, surpassing 1 ZH/s for the period.

The increases come, despite miners ongoing struggles with rising energy costs and lower rewards. After last year’s halving, the payoff for miners has fallen to 3.125 bitcoin, down from 6.250 previously.

Miners typically rely on the price of Bitcoin to go up to cover costs but continued volatility for the asset has spurred some large miners to branch into high-powered computing.

Hash rate is the measurement of all the computing power on the leading cryptocurrency’s network.

Hash computations—or hashing—is the process of turning data into a fixed-length string of characters. It’s needed to do things on the Bitcoin network, like creating private keys so users can make transactions.

1 ZH/s means that per second, the computers securing the Bitcoin network are doing one sextillion (1,000,000,000,000,000,000,000) hashes every second—an absurdly large number.

Bitcoin, other than being a digital coin, is a payment network with operations processing transactions scattered worldwide.

The operations processing transactions—known as miners—race to solve puzzles and are rewarded for doing so. In order to take part, they must use huge amounts of computing power.

A high hash rate is important because it means more computing power is being used to keep the cryptocurrency’s network secure. And the more computing power used, the harder it is for attackers to take control of more than 50% of the Bitcoin network.

It also means there is more mining activity on the network as miners expand their operations and use more machines—and power—to continue minting coins.

Bitcoin miners are typically large operations run by companies in warehouses that use lots of electricity to process transactions on the virtual coin’s network and mint new coins.

The aggregate hash rate for the world’s largest digital asset was previously concentrated in China. Following the country’s ban on Bitcoin mining in May 2021, companies were forced to move elsewhere to set up their operations.

Since then, North America has become the most dominant player in the Bitcoin mining space.

https://twitter.com/pete_rizzo_/status/1962937690397012252

The increased seven-day hash rate comes as miners wrestle with rising energy costs and lower rewards. After last year’s halving, the payoff for miners is 3.125 bitcoin, down from 6.25 previously.

Miners typically rely on the price of Bitcoin to go up to cover costs but continued volatility for the asset has spurred, some large miners tobranch into high-powered computing.

Bitcoin was recently trading for $111,985 per coin, according to CoinGecko data, unmoved over 24 hours. The coin has also barely budged over a seven-day period, but it hit a new high of $124,128 in August.

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September 4, 2025 0 comments

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SUI Group’s treasury climbs to $344m after fresh 20m token addition

by admin September 4, 2025

SUI Group Holdings has cemented its status as a titan within the Sui ecosystem. Its recent acquisition of 20 million tokens brings its total stash to over $344 million, making it a dominant force in the token’s economy.

Summary

SUI Group Holdings added 20 million SUI tokens, lifting its treasury to 101.8 million, valued at $344 million.
The Nasdaq-listed firm trades under SUIG and has exclusive access to discounted SUI via the Sui Foundation.
SUI rose over 4% following the announcement, trading between $3.25 and $3.40.

According to a press release dated September 3, the Minnesota-based company, which trades on the Nasdaq under the ticker SUIG, systematically added another 20 million Sui (SUI) tokens to its coffers.

The accumulation, executed under a unique arrangement with the Sui Foundation, pushes its total holdings to 101.8 million SUI, valued at over $344 million at current market rates. Chief Investment Officer Stephen Mackintosh said the move underscores the firm’s “conviction in the transformative potential of the SUI blockchain,” adding that it plans to continue seeking “accretive capital raises” to fund further purchases.

The strategy behind the SUI accumulation

SUI Group’s official relationship with the Sui Foundation grants it exclusive access to purchase discounted, locked SUI tokens directly from the source, unlocking a significant cost-basis advantage over the open market.

By maintaining substantial liquidity, approximately $58 million, according to the release, the firm positions itself to continue acquiring discounted locked tokens, a strategy designed to scale its treasury while optimizing value for shareholders.

To leverage its massive position, the company is not passively holding. The treasury update confirms that substantially all of the 101.8 million SUI is being actively staked on the network. This generates an estimated 2.2% annual yield, which currently translates to roughly $20,000 in daily staking rewards, SUI Group said.

For shareholders, the company has introduced a crucial metric dubbed SUI per share. As of September 2, that figure stands at 1.14. This is calculated by dividing the total treasury of 101.8 million SUI by the fully adjusted share count of 89.1 million common shares outstanding.

The metric provides a transparent measure of value, showing exactly how much of the underlying asset each share of SUIG stock represents. The increase from 0.92 SUI per share just weeks prior demonstrates the strategy’s immediate impact in concentrating asset ownership for each shareholder.

Following the announcement, SUI traded up more than 4%, rising from a daily low of $3.25 to as high as $3.40, though it remains well below its January peak of $5.35.

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September 4, 2025 0 comments

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Ethereum (ETH) Fatigue? Institutions Now Returning to Bitcoin (BTC)

by admin September 3, 2025

Massive scale of August rotation
Bitcoin ETFs still enjoy huge lead

According to analytics firm Arkham Intelligence, institutions are now coming back to Bitcoin (BTC) after seemingly souring on Ethereum (ETH).

On Tuesday, spot BTC exchange-traded funds (ETFs) attracted $332.8 million worth of inflows, with Boston-headquartered mutual fund Fidelity accounting for the biggest chunk of the aforementioned sum ($133 million).

Surprisingly, the Fidelity Wise Origin Bitcoin Fund (FBTC) came ahead of BlackRock’s iShares Bitcoin Trust ETF (IBIT). The latter managed to attract only “relatively modest” $73 million.

Massive scale of August rotation

This comes after a massive rotation took place within the cryptocurrency sector in August.

Ethereum ETFs attracted roughly $3.9 billion worth of inflows as its corporate adoption narrative also started picking up steam.

Meanwhile, Bitcoin ETFs were actually in the red with a total of $751 million worth of net outflows.

Bitcoin ETFs still enjoy huge lead

It is worth noting that spot Ethereum ETFs, which were launched last July, were initially deemed to be a major flop due to underwhelming outflows.

Despite recently turning the tables with massive inflows, they are still miles away from catching up with their Bitcoin counterparts.

According to data provided by SoSoValue, Bitcoin ETFs currently boast a total of $143.21 billion worth of net assets. For comparison, spot Ethereum ETFs have reached $28 billion in net assets following their massive streak of inflows that was recorded in August.

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September 3, 2025 0 comments

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Kevin O’Leary’s $13M Bet on Rare Sports Card

by admin September 3, 2025

Kevin O’Leary is turning away from NFTs and putting millions into rare, physical collectibles, specifically high-end sports cards.

The “Shark Tank” star and O’Leary Ventures chairman recently co-purchased a $13 million dual Logoman card featuring Kobe Bryant and Michael Jordan, he said during an interview with CoinDesk TV’s Jennifer Sanasie. The card is one-of-a-kind, and O’Leary—often called “Mr. Wonderful”—sees it as a cornerstone of his growing “index” of unique collectibles.

“The majority of the returns over 20 years have accrued to the collectors who bought the piece uniques,” O’Leary said, comparing the strategy to his long-standing investments in Andy Warhol art and luxury watches. Rather than outbidding others, O’Leary partnered with two investors to acquire the card. “I’d rather own 33 and a third of it than zero,” he said.

Pouring millions into rare sports cards isn’t a passion project—it’s a calculated bet. “It once traded for $75,000 years and years ago, but it shows you the price appreciation,” O’Leary said.

“Grown men are going to weep when they see this,” he added.

Tokenization over NFTs

Despite the overlap with tokenization, O’Leary made it clear that he has no interest in NFTs.

“NFTs turned out to be a fad,” he said. “I’m only buying assets that are physical assets… That [NFT] fad came and went. I’m very fortunate I didn’t get involved in that because I never understood it.”

O’Leary’s sharp dismissal of NFTs comes just a few years after the market exploded in popularity. In 2021, trading volume on NFT marketplaces surged to $25 billion, up from just $95 million the year before, according to data from DappRadar and Chainalysis. Celebrities like Snoop Dogg, Paris Hilton and Steph Curry rushed to launch collections, while major brands including Nike, Adidas and Coca-Cola entered the space.

But the hype was short-lived. NFT sales volumes fell more than 80% by mid-2022 amid the broader crypto downturn, and prices for high-profile collections like Bored Ape Yacht Club and CryptoPunks plunged from their peaks, according to the data.

O’Leary’s issue with NFTS is the lack of physical existence of the assets. “Where is the asset? Where can I put my white glove on and go touch it? That’s what you can’t do with an NFT.”

However, he said his collectibles “will one day be tokenized,” because “it would be much easier to deal with and manage them in an index that way.”

Wall Street on chain

O’Leary frames this shift as part of a larger mission: “Wall Street on chain.”

He believes blockchain infrastructure can modernize how assets are managed—improving transparency, liquidity and trust in markets that still rely heavily on intermediaries.

He remains bullish on foundational cryptocurrencies like bitcoin and Ethereum, and infrastructure plays like mining operators and exchanges.

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September 3, 2025 0 comments

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TRON Selected By US Department Of Commerce To Publish Economic Data Onchain

by admin September 3, 2025

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

In the midst of heightened market volatility, Tron has once again captured global attention by securing a landmark partnership with the US Department of Commerce. The agency announced today that it has selected the blockchain as one of the primary networks for posting official economic data, beginning with the release of the second quarter gross domestic product (GDP) figures.

This marks the first time that official US GDP data has been published on a public blockchain, a move that underscores the growing role of decentralized technology in enhancing transparency and global accessibility of critical economic indicators.

For Tron, this partnership is more than symbolic—it highlights the network’s ability to deliver scalability, speed, and trust at a time when blockchain use cases are expanding rapidly. Processing billions in daily settlement volume and millions of transactions, Tron has steadily built a reputation as one of the most active and reliable chains in the industry.

By becoming an infrastructure partner for one of the world’s largest economies, Tron strengthens its position as a critical player in the future of data security and blockchain adoption. This development comes as the broader crypto market heats up, adding momentum to its long-term growth narrative.

US GDP Data Anchored on TRON Blockchain

In its latest press release, TRON confirmed a historic milestone for blockchain adoption: for the first time, a US federal agency has published official GDP data on public blockchains. The Bureau of Economic Analysis (BEA) reported a Q2 2025 GDP growth rate of 3.3 percent on an annualized basis, with the corresponding data hash permanently recorded on TRON.

The transaction hash — 3f05633fb894aa6d6610c980975cca732a051edbbf5d8667799782cf2ae04040 — now serves as an immutable record, ensuring that the information remains transparent and accessible to the public.

The US Department of Commerce selected TRON to record the SHA256 hash of the official GDP release, recognizing the network’s ability to deliver unparalleled scalability, speed, and efficiency.

TRON’s performance metrics underscore its readiness for this role. With more than $22 billion in daily settlement volume and over 8.8 million daily transactions, the network has established itself as one of the busiest and most reliable blockchains globally. Beyond serving as a financial settlement layer, TRON is now positioned as infrastructure for governments and institutions.

This partnership highlights a turning point for blockchain’s utility. TRON is proving that decentralized networks can safeguard sensitive data while granting global, open access. As markets continue to evolve, the integration of TRON into official economic reporting sets a precedent for how blockchain can reshape transparency, trust, and access to critical information worldwide.

TRX Testing Strength Amid Consolidation

TRON (TRX) continues to trade in a strong uptrend despite recent volatility, holding above the $0.33 level. The chart shows that TRX has maintained its bullish momentum since early 2025, supported by consistent higher lows and strong buying interest. After peaking near $0.36, the price has entered a short-term consolidation phase, with bulls working to defend key support levels around the 50-day moving average at $0.29.

TRX testing previous resistance as support | Source: TRXUSDT chart on TradingView

The moving averages reflect a healthy structure, with the 50-day positioned above the 100-day and 200-day, signaling that the broader trend remains intact. TRX’s ability to hold above these moving averages highlights the resilience of buyers, even as the broader market faces heightened volatility. If momentum strengthens, a breakout above $0.36 could open the door toward retesting higher levels around $0.40.

However, risks remain if TRX loses its $0.33–$0.32 support zone, which could trigger a deeper correction back toward the $0.29 demand level. With TRON recently making headlines for its adoption by the US Department of Commerce, fundamentals continue to support long-term growth. For now, the market is watching closely as TRX consolidates, with the next move likely to define its direction in September.

Featured image from Dall-E, chart from TradingView

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.

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September 3, 2025 0 comments

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Shein Accidentally Casts Alleged CEO Assassin Luigi Mangione as Its AI Model

by admin September 3, 2025

In brief

An AI-generated clothing model on Shein’s site bore an uncanny resemblance to alleged murderer Luigi Mangione, confirmed by facial recognition tools.
The shirt sold out before Shein pulled the listing, blaming a third-party vendor for the fiasco.
The incident adds to a growing list of AI-generated ad disasters, from deepfake influencers to celebrity likeness lawsuits.

The marketing team at Shein probably thought they’d found the perfect model: chiseled jawline, brooding eyes, the kind of face that could sell low-quality shirts to anyone scrolling at 2 a.m. There was just one problem—their AI-generated hunk was Luigi Mangione, the 26-year-old charged with killing UnitedHealthcare’s CEO last December.

The shirt, a basic cotton one, appeared on Shein’s website with what AI researcher Henk van Ess identified as a likely Midjourney creation. Facial recognition tools confirmed the match. Within hours of going viral, the listing vanished faster than Shein’s return policy fine print.

“We are aware of the product and have removed it from our site,” a Shein spokesperson told TMZ. The company blamed an third-party vendor, shirking blame without identifying the supplier in question. The shirt reportedly sold out before anyone at Shein noticed their new model’s resemblance to the most wanted man in America last week.

But of course, you can access the advertisement if you visit the Wayback Machine.

Shein promised “appropriate action” against the vendor, which probably means finding a supplier who can generate fake models that don’t accidentally replicate people on FBI watchlists.

The incident sparked the usual X pile-on, with users torn between horror and grudging admiration for whatever algorithm thought “alleged CEO killer” was the right aesthetic for budget casualwear.

the fact that your face can be used, without consent, to promote products that you’ve never even touched thanks to genAI…

add in the fact that they’re using the image of an incarcerated individual who has already lost all autonomy.

— Bag chaser 🧌 (@deadbynextweek) September 3, 2025

First, he gets framed for murder, now this.

— 🥀_ Imposter_🥀 (@Imposter_Edits) September 3, 2025

Not the first, won’t be the last

Shein’s algorithmic face-plant joins a growing gallery of AI mishaps, including Scarlett Johansson, who practically made herself the fake face of the anti-deepfake movement.

The famed actress threatened to sue OpenAI over a suspiciously familiar voice assistant. She then sued Lisa AI for making an AI companion using her image. And later, her likeness was included without her consent in a fully AI-generated campaign featuring different Jewish artists wearing a t-shirt giving Kanye West the middle finger.

An AI-generated version of Scarlett Johansson featured in the viral video decrying Kanye West’s antisemitism. Image: Instagram

Just reecently, gaming company Nexon got caught using AI influencers in TikTok ads for The First Descendant.

“These AI ads make me sad and worried for the future of the game,” one Redditor wrote. “The worst part of this all is that whoever is in control of the Official TFD TikTok accounts is aware of the backlash against the AI ads and has gone out of their way to ignore and hide it. They have been deleting and reuploading the AI videos whenever they get too much backlash in the comments.”

Regulators are scrambling to catch up, but so far, regulation is crawling while AI sprints.

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September 3, 2025 0 comments