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Coinbase Ceo Calls Crypto Legislation A 'Freight Train' Push
Crypto Trends

Coinbase CEO Calls Crypto Legislation a ‘Freight Train’ Push

by admin September 18, 2025



Brian Armstrong, the CEO of Coinbase, expressed strong confidence this week about the advancement of legislation aimed at the market structure for digital assets in the cryptocurrency space. He noted that this legislation would protect all non-stablecoin crypto assets, such as Bitcoin and Ethereum. He compared the legislative process to a “freight train leaving the station,” emphasizing the strong support from both Democrats and Republicans in Congress. 

Armstrong, who met with US lawmakers from both parties over several days, shared his views in a video posted on X. “This is how we ensure the crypto industry can be built here in America, driving innovation and protecting consumers, and making sure we never have another Gary Gensler trying to take your rights,” he said, referring to the current SEC chair’s enforcement-heavy approach to crypto.

He added that the lawmakers won’t allow the banking industry’s attempt to ban interest on stablecoins. In mid-August, banking groups said stablecoins that pay interest could harm traditional banks, which rely on high-interest savings accounts to attract deposits for funding loans. These groups tried to ban interest on stablecoins in the GENIUS Act but failed.

He further highlighted robust Senate support, noting that members across the aisle are eager to advance the draft bill. The legislation is currently in a back-and-forth refinement stage before broader public input from industry stakeholders. Senator Cynthia Lummis, R-Wyo., a leading proponent, predicted earlier this month that the bill could reach the U.S. President Donald Trump’s desk for signature by the year’s end.

The roundtable discussions drew executives from major crypto firms, including Ripple, Kraken, Circle, and Cardano, as well as venture capital players like Andreessen Horowitz (a16z), Paradigm, and Multicoin Capital. These sessions underscored growing momentum for structured oversight that balances innovation with consumer safeguards.

Kraken CEO urges bill to protect crypto builders

Kraken CEO Arjun Sethi emphasized the need to prioritize developers and innovators in the bill’s framework. During the talks, Sethi advocated for protections that extend to protocols, blockchains, memes, tokenized equities, and other utilities. 

“Thank you to everyone in DC fighting for crypto’s future. But the real fight is bigger: protecting the right to build protocols, chains, memes, tokenized equities, commodities, utilities, etc., and ensuring incentives stay with the builders, not just incumbents,” he posted on X.

Momentum builds for bitcoin reserve 

Separately, momentum is building around a proposed national bitcoin reserve. On Tuesday, August 16, 2025, 18 crypto leaders, including MicroStrategy Executive Chairman Michael Saylor, met U.S. lawmakers and had a productive meeting to talk about creating a national Bitcoin reserve backed by the Trump administration at Capitol Hill. 

They discussed the BITCOIN Act, a proposal from Senator Cynthia Lummis, which aims to have the U.S. government buy one million Bitcoin over five years without adding to the national budget. 

To fund this, they suggested ideas like revaluing the Treasury’s gold certificates or using money from tariffs. These efforts indicate the crypto industry’s push to grow in the U.S. while competing globally. 

Lawmakers are working more closely with the industry, which is a positive change, but the bill still needs to pass through committees and votes to become law. For now, crypto leaders see these discussions as an important step forward.

Also Read: UK FCA to Relax Crypto Rules, Boost Cyber Laws: FT



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September 18, 2025 0 comments
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Mass Effect TV series casting calls leak, sparking speculation Male Shepard is canon
Game Updates

Mass Effect TV series casting calls leak, sparking speculation Male Shepard is canon

by admin September 17, 2025


Casting details for Amazon’s forthcoming Mass Effect TV series have leaked, with fans speculating on which characters from the games will be included.

As shared by entertainment insider Daniel Richtman, five casting calls have leaked. These are: a young Colin Farrell-type male (30-39) with open ethnicity; a female co-lead alien character requiring prosthetics (34-39); a female human providing a parallel narrative from Earth; a Doug Jones-type male villain (40-60); and a male wrestler-type soldier (30-49).

Amazon has provided no details on the show’s story, so it’s unclear if it will be based on BioWare’s original Mass Effect trilogy or if it will focus on entirely new characters in the same universe.

Mass Effect Legendary Edition – Official Launch Trailer (4K)Watch on YouTube

Still, these vague character descriptions have provided enough for fans to speculate on. In particular, the female co-lead alien seems primed to be fan-favourite blue alien Liara T’Soni.

However, the Colin Farrell-type male could prove the most controversial. Fans have guessed this could be a male Commander Shepard, protagonist of the original trilogy – but this would assume MaleShep is canon over the female option.

Many fans prefer FemShep due to the performance of voice actor Jennifer Hale, so Amazon needs to tread carefully with the TV show if it’s following the games and intends to cement certain story decisions – Shepard’s gender especially.

The female human on Earth is an interesting prospect, considering the only similar character in the games would be Captain Anderson in Mass Effect 3. Some fans have suggested journalist Emily Wong could be an alternative, while one proposed FemShep could still exist in the same universe like the twins in Andromeda.

Saren from Mass Effect 1 would fit the bill for a Doug Jones-type villain (the actor is known for his non-human roles in The Shape of Water and Hellboy), while the male wrestler-type soldier certainly describes James Vega. But most importantly of all: in this scenario, who’s playing Garrus?!

Casting Calls for Amazon’s Mass Effect Series Have Reportedly Leaked
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Of course, this could all be entirely incorrect if Amazon chooses a story separate to the games, though you’d surely anticipate the team leaning on familiarity with the games at least for marketing purposes.

Back in July, it was revealed the Mass Effect series would be helmed by many of the team behind Amazon’s Fallout show. That’s proven particularly successful – and notably takes inspiration from the games without following them directly.

Amazon’s Mass Effect TV adaptation was officially announced in November last year. At the start of this year, Eurogamer spoke with Jennifer Hale who stated the game’s original cast should return for the TV series, even if just for cameos.

“I think they’d be really smart to pull as much of the original cast into the show in cameos and Easter eggs and recurring and regular [roles] as possible,” she said. “I think that would be an absolutely genius move.”



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September 17, 2025 0 comments
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Randy Pitchford calls Borderlands 4 "pretty damn optimal" amidst PC performance complaints
Esports

Randy Pitchford calls Borderlands 4 “pretty damn optimal” amidst PC performance complaints

by admin September 17, 2025


Gearbox Software CEO Randy Pitchford has called Borderlands 4’s performance “pretty damn optimal” in response to complaints about the game’s optimization on PC.

In a series of X posts on September 15, 2025, Pitchford appeared to put the onus of performance issues on players, saying: “Every PC gamer must accept the reality of the relationship between their hardware and what the software they are running is doing.”

“We have made an amazing and fun and huge looter shooter campaign game,” he continued. “The game is pretty damn optimal – which means that the software is doing what we want without wasteful cycles on bad processes.

“With Borderlands 4, every PC gamer has a lot of tools to balance their preferences between FPS, resolution, and rendering features. If you aren’t happy with the balance between these things you are experiencing, please tune to your preferences using the tools available to you.”

The CEO also claimed it is “absolutely reasonable” for developers of a campaign looter shooter to “focus on default settings achieving 30fps on minimum specification and 60fps on recommended specification.”

“It is a mistake to believe or expect that PCs between minimum specification and recommended specification can achieve all of extremely high frame rate, maximum/ultra features, and extremely high resolution,” Pitchford continued.

“If that last post makes you have a negative reaction, I bet you have emotions and expectations that you feel aren’t sufficiently attended to. I’m sorry.

“But please accept that the game is doing a lot and running pretty optimally and that you may have to either accept some trade offs between fps, features and resolution as your preference or you will continue to be disappointed.”

Pitchford insisted Borderlands 4 has “few real issues,”, and those that do persist are “affecting a very, very small percentage of users.”

“We are fixing those and many are already fixed,” he said. “We are also doing significant work on PC performance and, well, everything else that is coming at us. We’re not stopping.”

However, Pitchford recommends fans don’t wait for these fixes and instead “make the trade offs to prioritize what is important to you,” suggesting players reduce resolution to address FPS issues and utilise Nvidia’s AI-powered DLSS technology to improve visuals.

In response to Pitchford’s posts, multiple players highlighted the PC performance issues they’ve had with Borderlands 4, primarily citing unstable frame rates, even at lower graphics settings.

In its analysis of Borderlands 4’s PC performance, Digital Foundry (which tested the game on a high-end PC) also highlighted stuttering, 30 fps cutscenes, and frame rate drops as some of the game’s “pervasive” issues.

In addition, since its launch on September 11, 2025, Borderlands 4 has received numerous negative reviews on Steam, with players citing performance, optimization, and crashes as major reasons for not recommending the game, resulting in a Mixed overall rating.

Despite these issues, Borderlands 4 has surpassed 300,000 concurrent players on Steam, putting it ahead of Skyrim, Halo Infinite, and Rust when it comes to the platform’s most-played games of all time.



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September 17, 2025 0 comments
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Tanglewood Games calls for more support to develop game hubs in the North and across the UK
Esports

Tanglewood Games calls for more support to develop game hubs in the North and across the UK

by admin September 17, 2025


Tanglewood Games is calling for greater government support to strengthen and expand game development hubs in the UK.

Last week, Tanglewood — an Unreal Engine consultancy and development studio — partnered with Into Games for a Waypoint summit to explore social mobility for games businesses in the North East, and also met with Ukie and MP for Hartlepool, Jonathan Brash, to discuss how areas like Hartlepool can be developed into hubs.

“Video game hubs across the UK are a vital part of local economies, providing jobs and globally recognised innovation,” Tanglewood states in a press release. “Yet, access to the industry is hindered by a lack of investment and skills challenges often made worse by socio-economic inequality.”

“I come from a working-class background, and I know talent in the UK isn’t limited just to the big cities,” said Chris Wood, CEO of Tanglewood Games. “I and Tanglewood Games are calling for clear pathways into the industry from schools and universities. Funding, including mentorships, bursaries and infrastructure, and collaboration with government and regional authorities to invest in local talent.

“We want to make sure everyone, no matter their background, feels like they have a route into the industry, and are supported when they get there.”

Ukie said it is actively working with the Government’s Social Mobility Commission to explore how the games industry “can help break down these socio-economic barriers” for British developers and their businesses, whilst Jonathan Brash said: “My role as MP is to back [Tanglewood Games’] work with sustainable investment across a range of areas that will be crucial in developing this growing industry.”

Earlier today, we reported that trade body TIGA is calling for stronger tax credits to support the UK games industry.



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September 17, 2025 0 comments
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Coinbase Stablecoins Don’t Drain Bank Deposits, Calls It A ‘Myth’
Crypto Trends

Stablecoins Don’t Drain Bank Deposits, Calls It a ‘Myth’

by admin September 16, 2025



Leading U.S. cryptocurrency exchange Coinbase has refuted claims that stablecoins threaten the US banking system by causing “deposit erosion.” It called this idea a myth.

In a blog post on September 16, the exchange dismissed concerns about stablecoins pulling funds from bank deposits as unfounded. Coinbase also cited that recent analysis highlighted that there is no significant connection between stablecoin use and deposit outflows at community banks.

Further, the exchange argued that stablecoins, which are dollar-pegged cryptocurrencies, function primarily as payment tools rather than savings accounts. “Stablecoins don’t threaten lending—they offer a competitive alternative to banks’ $187 billion annual swipe-fee windfall,” it stated, emphasizing that users choosing stablecoins for international payments are not reallocating savings but opting for faster, cheaper transactions.

The exchange also challenged a U.S. Treasury Borrowing Advisory Committee report projecting $6 trillion in potential deposit flight against a $2 trillion stablecoin market by 2028, calling the figures inconsistent. Coinbase’s accompanying paper noted that most stablecoin activity, over $1 trillion of $2 trillion in 2024 transactions, occurs outside the U.S., particularly in Asia, Latin America, and Africa, where financial infrastructure is weaker. 

Coinbase: Stablecoins boost USD, coexist with banks

Coinbase argued that this international use strengthens the U.S. dollar’s global dominance rather than undermining domestic banks. It further highlighted positive correlations between bank stock performance and crypto firms like itself and Circle after the passage of the GENIUS Act, suggesting banks and stablecoins can coexist. 

The exchange’s stance aligns with comments from Bitwise’s Investment Chief Matt Hougan, who last week criticized U.S. banks in an X post for offering low deposit yields while resisting stablecoin competition instead of improving services. The debate follows August 2025 calls from U.S. banking groups, led by the Bank Policy Institute, urging Congress to address a perceived loophole in the GENIUS Act that could allow stablecoin issuers to indirectly offer yields through crypto exchanges. 

Also Read: Hong Kong To Simplify Crypto Rules To Support Stablecoin Banking



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September 16, 2025 0 comments
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GameFi Guides

Israel Calls for Seizure of $1.5 Million in Tether Allegedly Tied to Iran

by admin September 16, 2025



In brief

  • Israel’s National Bureau for Counter Terror Financing has released a list of 187 USDT addresses.
  • It alleges the addresses, which collectively received $1.5 billion, are linked to Iran’s Islamic Revolutionary Guard Corps and must be blacklisted.
  • Blockchain data firm Elliptic said it couldn’t be certain if all the addresses were linked to Iran’s armed forces.

Israel on Monday published a list of crypto addresses, alleging Iran’s Islamic Revolutionary Guard Corps used them to receive $1.5 billion in USDT.

Israel’s National Bureau for Counter Terror Financing said in its announcement that the crypto across the 187 addresses should be seized. 

The NBCTF did not immediately respond to Decrypt‘s questions but blockchain analytics firm Elliptic said the addresses received the huge amount of crypto in the form of Tether’s USDT. 



Elliptic added that it wasn’t able to say for certain if all the addresses were directly linked to Iran “since some of them may be controlled by cryptocurrency services and could be part of wallet infrastructure used to facilitate transactions for many customers.”

It added that the assets could be seized because they are in the form of USDT. Tether’s USDT stablecoin is the fourth biggest digital asset by market cap and the most-traded virtual coin, with a 24-hour trading volume of over $101 billion. 

Tether, the company that issues the digital coin, has worked with law enforcement in the past to freeze USDT linked to criminal activity.  

Pro-Israel hacking group Gonjeshke Darande in June drained $90 million in crypto from Iranian exchange Nobitex, alleging it had links to the Islamic Revolutionary Guard Corps. 

But compliance firm Crystal Intelligence told Decrypt that many Nobitex customers were likely hit by the hack. 

Iran has long used cryptocurrency to circumvent sanctions. Last week, the United States Attorney’s Office for the District of Massachusetts filed a civil forfeiture action to recover $584,741 in USDT stablecoins from an Iranian national who provided technology to the Iranian military.

Iran’s IRGC is believed to be one of the country’s biggest Bitcoin miners.

Israel and Iran have been arch regional enemies for decades. The two attacked each other in a 12-day war in June, roiling crypto and other markets. 

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September 16, 2025 0 comments
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Giannis calls Greece's bronze his 'greatest accomplishment'
Esports

Giannis calls Greece’s bronze his ‘greatest accomplishment’

by admin September 14, 2025



Sep 14, 2025, 02:02 PM ET

RIGA, Latvia — Giannis Antetokounmpo scored 30 points and grabbed 17 rebounds, leading Greece to a 92-89 win over Finland in the bronze medal game at EuroBasket on Sunday.

It was Greece’s first EuroBasket medal since winning bronze in 2009.

“We did it. This is probably one of the biggest accomplishments that I’ve ever accomplished as an athlete,” said Antetokounmpo, the Milwaukee Bucks star and a past NBA champion and MVP. “I know I’ve won an NBA championship, but there’s no feeling like representing your national team and representing 12 million people that breathe and live this national team. This is probably the greatest accomplishment so far in my life.”

“This is probably the greatest accomplishment in my life.” 🇬🇷 #EuroBasket | #MakeYourMark pic.twitter.com/vaktRBOVw5

— FIBA EuroBasket (@EuroBasket) September 14, 2025

It was the sixth time that Greece finished on the podium at the EuroBasket, with two golds, one silver and three bronze medals.

Utah Jazz forward Lauri Markkanen had 19 points and 10 rebounds for Finland.

Greece, which never trailed and led by 17 at one point, had an 11-point lead with less than two minutes remaining, but Finland rallied.

Elias Valtonen had a chance to tie the game with three free throws with five seconds left but missed the third. Antetokounmpo eventually controlled the rebound for Greece and sealed the game with a pair of free throws.

Greece was routed by Turkey in the semifinals, with Germany defeating Finland. Germany edged out Turkey later Sunday in the gold medal game.





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September 14, 2025 0 comments
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Crypto Trends

Concerns Grow That Bot Networks May Be Amplifying Calls for ‘Civil War’ After Charlie Kirk Killing

by admin September 14, 2025



In brief

  • Identical “civil war” posts flooded X hours after Kirk’s killing, many from generic or low-engagement accounts.
  • Past studies show botnets can generate billions of impressions; researchers warn AI tools make them harder to spot.
  • Analysts see echoes of Russian and Chinese ops, but no confirmed attribution for this week’s spike in violent rhetoric.

In the hours after Charlie Kirk was assassinated at a Utah event on Wednesday, social media platforms—especially X—erupted with hostile rhetoric. Right-leaning posts quickly invoked “war,” “civil war,” and demands for retribution against liberals, Democrats, and “the left.”

Among these were aggregations of accounts with strikingly similar characteristics: generic bios, MAGA-style signifiers, “NO DMs” disclaimers, patriotic imagery, and stock or nondescript profile photographs.

These patterns have raised a growing suspicion: Are bot networks being used to amplify right-wing calls for civil war?

Thus far, no definitive external report or agency has confirmed a coordinated bot-driven campaign tied specifically to the event. But circumstantial evidence, historical precedent, and studies on the nature of inauthentic accounts on X suggest there is reason for concern.

What the evidence suggests

Researchers and users point out repetitive phrasing (e.g., warnings that “the left” will pay, “this is war,” or “you have no idea what is coming”) appearing in many posts within a narrow timeframe. Many of these posts come from low-engagement accounts with default or generic profiles.

“In the wake of the assassination of Charlie Kirk, we are going to see a lot of accounts pushing, effectively, for civil war in the U.S. This includes the rage-baiter-in-chief, Elon Musk, but also an army of Russian and Chinese bots and their faithful shills in the West,” wrote University of San Diego political science professor Branislav Slantchev on X.

In the wake of the assassination of Charlie Kirk, we are going to see a lot of accounts pushing, effectively, for civil war in the US. This includes the rage-baiter in chief, Elon Musk, but also an army of Russian and Chinese bots and their faithful shills in the West.

Do not… https://t.co/OyErwAYnV8

— Branislav Slantchev (@slantchev) September 10, 2025

He cited a viral thread of X posts from purported bot users that advocated for retributive violence. The poster claimed that “half of them have an AI-generated profile photo, the standard bio schlop, and the standard banners.”

Such patterns—rapid appearance of similar content across many accounts—are consistent with known botnet coordination or message amplification. While these are based on user observations more than systematic data to date, the consistency with known bot behavior adds weight to suspicions.

Past research provides a baseline for what bot-amplified political content looks like on X (formerly Twitter). A Plos One study in February found that after Elon Musk’s acquisition of the platform in late 2022, hate speech increased and there was no reduction in activity of inauthentic or “bot-like” accounts. 



Another investigation by Global Witness last summer uncovered a small set of bot-like accounts (45 accounts in one instance) that between them generated over 4 billion impressions for partisan, conspiratorial, or abusive content. This type of amplification shows the potential reach of such networks. 

Finally, there is a history of states or organized groups deploying botnets or troll farms to exploit US political polarization. Examples include Russia’s Doppelgänger campaign, “Spamouflage” (Chinese government-linked), and others that have mimicked US users, used AI-generated or manipulated content, or pushed divisive rhetoric for political leverage. 

Nothing definitive yet

As of now, no credible cybersecurity firm, government agency, or academic group has publicly attributed a bot network—foreign or domestic—with high confidence to the wave of “civil war” rhetoric following Kirk’s death.

The MAGA terrorist bots are honouring Charlie Kirk by sending death threats to anyone they perceive to be “left” or a “democrat”, Including public figures. This is likely part of a coordinated Russian campaign to spread chaos and create political unrest, be aware, stay alert.

— Anonymous (@YourAnonCentral) September 10, 2025

It is also not clear how many of the posts are automated vs. organic (real users). The portion coming from apparently bot-like accounts vs the broader public discourse is unknown. Also, it’s not established whether any such amplification has a top-down command structure (i.e. centrally coordinated) or is more ad-hoc.

And X is rife with plenty of verified influencers on the right calling for civil war or violent attacks on the left.

Nonetheless, when the U.S. suffers a national tragedy like yesterday’s shooting, groups with a record of exploiting political polarization have seized on the opportunity. Russia’s bot farms (e.g. Internet Research Agency/“Storm”-type operations) have long been flagged. Chinese-linked disinformation networks (e.g. “Spamouflage”) are documented to have used social media amplification and content farming to influence U.S. public sentiment. 

And the rise of AI-enabled content generation makes it easier for bot networks to produce plausible, human-like posts at scale. Research shows that bot detection is increasingly challenged by accounts that mimic human language, timing, and variation. A recent bot detection review found evolving concealment techniques and gaps in current detection methods. 

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September 14, 2025 0 comments
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'BNB Microstrategy' faces imminent Nasdaq delisting as price falls below threshold
GameFi Guides

BNB breaks all-time high, founder CZ calls on bank adoption

by admin September 14, 2025



BNB surged to a new all-time high of $929, driven by a 3% daily gain and an 8% increase over the past week. Binance founder Changpeng “CZ” Zhao urged banks to integrate the exchange token into their operations, fueling optimism about its future growth.

Summary

  • BNB hit $929 ATH as Binance founder CZ urged banks to integrate the exchange token
  • Analysts project BNB could rally 40% more, eyeing a $1,300 price breakout target
  • Stablecoin inflows and auto burns drive strong BNB momentum against wider market

BNB market cap surpasses Union Bank of Switzerland

The milestone marks BNB’s continued upward momentum, with its market cap now surpassing UBS, the world’s largest private bank.

Analysts see further upside, with projections suggesting a potential rise to $1,300. The token’s outperformance is supported by increased stablecoin inflows to Binance and quarterly token burns, while Zhao’s call for institutional adoption signals growing ties between crypto and traditional finance.

Zhao posted on X that “Banks need to adopt BNB (BNB). As a small community member, I am happy to help any bank integrate.”

BNB’s market capitalization has now surpassed Union Bank of Switzerland, the world’s largest private bank.

Banks need to adopt BNB. 👀

As a small community member, I am happy to help any bank integrate. https://t.co/BQUiBaOX75

— CZ 🔶 BNB (@cz_binance) September 13, 2025

The token has traded within a seven-day range of $857.01 to $929, showing consistent upward momentum.

Analyst Ali sees further upside potential, posting that “BNB in the middle of a bullish breakout! Target sits at $1,300.” This projection would be a 40% gain from current levels and suggests the recent all-time high could be just the beginning of a larger move.

The strong performance comes as BNB diverges from broader cryptocurrency market trends.

Analyst Cas Abbé noted that over the past 30 days, Bitcoin is down approximately 6% while BNB has gained around 10%, with a negative correlation of -0.27 between the two assets.

Stablecoin inflows and supply burns drive momentum

Two key factors are driving BNB’s outperformance relative to other major cryptocurrencies.

Abbé mentioned that stablecoin inflows on Binance have increased from $32 billion in August to $38 billion currently. This is a 19% increase in idle liquidity that tends to rotate into major tokens during volatile periods.

$BNB is quietly diverging from BTC.

Over the past 30 days:
• BTC is down ~6%
• BNB is up ~10%
• Correlation: -0.27 (negative)

Two drivers behind this divergence:

1. Stablecoin inflow on Binance
ERC-20 stablecoin reserves rose from $32B in August to $38B now (+19%).

This… pic.twitter.com/Ml4gXlsTrm

— Cas Abbé (@cas_abbe) September 12, 2025

The second driver involves BNB’s supply mechanics through quarterly auto burns. These scheduled token burns reduce the overall supply, while rising reserves create favorable supply-demand dynamics heading into Q4.

The combination of increased stablecoin reserves and systematic supply reduction creates support for BNB’s price action.

Zhao’s call for bank adoption adds another dimension to BNB’s growth story. His offer to “help any bank integrate” suggests Binance is actively pursuing institutional partnerships that could bring traditional finance exposure to the token.





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September 14, 2025 0 comments
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Will Solana Launch A Stablecoin? Helius CEO Calls It A No-Brainer

by admin September 12, 2025


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

Helius Labs CEO Mert Mumtaz ignited a fresh round of debate inside the Solana ecosystem on September 10 after floating the idea of a Solana-aligned stablecoin whose reserve yield would be redirected to SOL via buybacks or burns—either as an “enshrined” protocol feature or, more likely, through competing digital-asset treasury companies (DATs). “Warming up to the idea that Solana should enshrine a stablecoin,” he wrote, adding that “50% burn of the yield goes back to burning SOL.” Hours later, he reframed the thrust: “it shouldn’t be enshrined, a DAT should do it… fix it and trillions.”

Why A Solana Stablecoin Is A No-Brainer

Mumtaz’s core critique targets what he describes as “yield leakage” from Solana: “Stablecoins are commodities, and currently on Solana, there is one that captures all yield and literally funds Solana’s biggest competitor with it!” He argued that, under the US GENIUS Act, stables are readily swappable and issuers will fight aggressively for market share—citing the recent “Bachelor-style” scramble among large stablecoin companies to court business. “If you don’t want to enshrine a Solana-centric stable, then consider digital asset treasury companies (DATs)… The DAT is literally a machine for buying the underlying token.”

That framing collides with the letter of the new US law. The GENIUS Act, signed in July, carves out “payment stablecoins” as neither securities nor commodities for US federal purposes, consolidating oversight largely under banking regulators and expressly separating them from SEC/CFTC jurisdiction. Multiple legal analyses and a Congressional Research Service note affirm the statute’s classification.

In short: Mumtaz’s “commodity” phrasing is rhetorical, not legal. Still, the law’s most consequential economic detail—stablecoins cannot pass interest to holders—means issuers (or affiliated structures) capture the reserve income and can decide how to use it. That’s precisely the lever Mumtaz wants pointed back at Solana.

Within hours, one builder publicly accepted the challenge. “We (@KASTcard) will put 101–103% of all interest income from USDK on Solana, to buyback SOL,” wrote CEO and co-founder of KAST, adding that the buybacks would sit with a foundation that issues a token after a planned TGE and that USDK would be issued with the m^0 foundation as a U.S. “Genius compliant” stable. The 1–3% kicker above 100% would be treated as marketing spend. KAST and m^0 have previously disclosed plans to launch programmable, application-specific dollars on the networl; KAST’s consumer app and card already target global stablecoin payments.

The proposal’s mechanics are straightforward in concept. A native USD stablecoin accrues reserve yield (e.g., from T-bills) at the issuer level; a DAT structure then commits that income stream to buy SOL on the open market and either retire it or recycle it into ecosystem programs.

Mumtaz even sketched a toy model—“Assume a Solana DAT runs a Solana stable, call it USDmanlet… [it] earns yield. The DAT takes all the yield and buys SOL with it… embed it in the ecosystem and take the yield and pump it back… or into burning SOL.”

Stablecoin Wars Reach Solana

Mumtaz’s “funding the competitor” barb is aimed squarely at USDC’s economics and Coinbase’s Base L2. Coinbase and Circle split USDC reserve income, a line item that has grown into a major revenue stream for Coinbase as stablecoin supply has rebounded; Coinbase incubated Base, an Ethereum Layer-2 that has quickly become a high-throughput venue for on-chain activity.

None of that is nefarious—USDC’s terms are clear—but for Solana purists it is strategically suboptimal to let billions in Solana-settled stablecoin activity originate issuer profits that are then reinvested in a rival’s stack. That is the “simple problem” Mumtaz says he wants to fix, whether by enshrining or (more plausibly) by market-driven competition among issuers and DATs.

Multicoin Capital co-founder and managing partner Tushar Jain agreed via X: “One of the best things about Solana’s culture is adopting good ideas from other ecosystems. Hyperliquid’s idea to encourage stablecoin issuers to buy HYPE with USDH interest is a powerful way to drive REV. Why should Circle keep all of the interest revenue from USDC on Solana?”

For now, this is only a proposal—there is no SIP or governance vote to “enshrine” anything at the protocol layer, and Mumtaz himself emphasized the market-driven DAT route. Whether the proposal takes the form of competing issuers pledging buybacks, a canonical “ecosystem stable,” or a more modular treasury program, the endgame Mumtaz sketched is unambiguous: stop leaking yield, and point it at SOL.

At press time, SOL traded at $228.

SOL surges above the 0.786 Fib, 1-week chart | Source: SOLUSDT on TradingView.com

Featured image created with DALL.E, chart from TradingView.com

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 12, 2025 0 comments
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  • Doja Cat Fortnite Account Takeover Gets Messy After Deleted Sex Toy Post
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  • This Indie Game Punishes You For Skipping Its Cutscenes
  • Here are our Xbox Game Pass games for October

Recent Posts

  • Doja Cat Fortnite Account Takeover Gets Messy After Deleted Sex Toy Post

    October 9, 2025
  • Skate’s $35 Dead Space Skin Upsets Fans

    October 8, 2025
  • Silent Hill f has a hidden Easter egg that calls back to one of the most iconic horror game themes of all time

    October 8, 2025
  • This Indie Game Punishes You For Skipping Its Cutscenes

    October 8, 2025
  • Here are our Xbox Game Pass games for October

    October 8, 2025

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Welcome to Laughinghyena.io, your ultimate destination for the latest in blockchain gaming and gaming products. We’re passionate about the future of gaming, where decentralized technology empowers players to own, trade, and thrive in virtual worlds.

Recent Posts

  • Doja Cat Fortnite Account Takeover Gets Messy After Deleted Sex Toy Post

    October 9, 2025
  • Skate’s $35 Dead Space Skin Upsets Fans

    October 8, 2025

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Subscribe my Newsletter for new blog posts, tips & new photos. Let's stay updated!

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