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CFTC's ‘Crypto Sprint’ Launches 2nd Phase, Seeks New Input
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CFTC’s ‘Crypto Sprint’ Launches 2nd Phase, Seeks New Input

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The Commodity Futures Trading Commission (CFTC) has announced the next phase of the agency’s “Crypto Sprint” initiative, which aims to examine and implement recommendations from the White House.

CFTC Launches New “Crypto Sprint” Phase

On Thursday, CFTC acting chair Caroline Pham announced that the agency would begin the next phase of its initiative to advance President Donald Trump’s vision and is seeking the public’s feedback on the recommendations in the President’s Working Group on Digital Asset Markets report.

Pham announces second phase of CFTC’s “Crypto Sprint”. Source: Caroline Pham on X

Pham highlighted that the Trump administration has “made it clear that enabling immediate trading of digital assets at the Federal level is a top priority,” adding, “The Trump Administration has ushered in a new dawn for crypto, and it’s up to market participants to seize this opportunity to be a part of the Golden Age of innovation.”

The agency has initiated stakeholder engagement and invited all interested parties to submit feedback and suggestions on all recommendations for the CFTC in the White House’s recent digital assets report by October 20, 2025.

“The public feedback will assist the CFTC in carefully considering relevant issues for leveraged, margined or financed retail trading on a CFTC-registered exchange as we implement the President’s directive,” Pham stated.

As reported by Bitcoinist, the CFTC unveiled its “Crypto Sprint” on August 1, which started with a spot crypto trading initiative. Following the Securities and Exchange Commission’s (SEC) launch of its “Project Crypto,” Pham revealed that the agency would work closely with SEC Chairman Paul Atkins and Commissioner Hester Peirce to provide regulatory clarity and foster innovation in the digital assets market.

“I am pleased with the many thoughtful letters from stakeholders in support of the CFTC’s listed spot crypto trading initiative, which, in coordination with the SEC’s Project Crypto, answers President Trump’s call to action for American leadership,” said the CFTC acting chair on Thursday.

Chaos In The Regulatory Agency?

The CFTC’s initiative comes amid rumors of chaos in the regulatory agency. On Friday, Bloomberg, citing anonymous sources, affirmed that “turmoil continues as the agency’s responsibilities, and the potential market risks, are multiplying.”

According to the report, enforcement has significantly slowed, and the commissioner’s shortage has allegedly made it difficult to carry out critical agency business. “The CFTC’s curtailment coincides with a looming expansion of the agency’s responsibilities,” Bloomberg noted, as the highly anticipated market structure bill is expected to shift most of the crypto market oversight to the CFTC.

A White House spokesperson denied that the agency is in disarray, telling the news media outlet that “President Trump has made it a priority to make America the crypto capital of the world, and in doing so has called for the revitalization of the Commodity Futures Trading Commission to play a larger role in securing this promise. Acting Chairman Caroline Pham has done a good job beginning this effort, and the Trump Administration is thankful for her leadership and dedicated public service.”

Meanwhile, the agency also remains in a leadership limbo after the US Senate Agriculture Committee delayed the vote on President Trump’s nominee for CFTC chairman, Brian Quintenz, days before the August recess.

The committee reportedly delayed the vote following a request from the White House. Notably, Tyler and Cameron Winklevoss, Gemini exchange co-founders, allegedly pressed President Trump in July to reconsider his CFTC nominee, arguing that Quintenz wouldn’t “shake up the CFTC enough” and is not “aligned with Trump’s agenda.”

Earlier this week, a group of crypto organizations sent a letter to the US President in support of Quintenz, arguing that installing a permanent chairman is “absolutely critical” to realize the agency’s goals.

“Mr. Quintenz possesses a singular capacity to advance sound and clear regulation that will foster responsible growth and innovation. He is, quite simply, the right person at the right time to lead the CFTC,” the letter concluded.

Bitcoin (BTC) trades at $115,195 in the one-week chart. Source: BTCUSDT on TradingView

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Kanye West Launches Yzy Token, Sparks Trend Across Crypto Industry
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Kanye West Launches YZY Token, Sparks Trend Across Crypto Industry

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Popular rapper Kanye West has launched a new memecoin called YZY earlier today and it has taken over the crypto industry by a storm. Deployed on Solana, YZY token is currently talk of the town with the rapper describing project as the start of a “new economy, built on chain.”

The launch drew swift attention from investors with YZY’s valuation climbing as high as $3.2 billion at its peak before cooling to around $1.3 billion. These sharp moves showed how quickly celebrity-backed tokens can rise and fall.

Source: X

Building a New Economy with YZY Money

YZY token is positioned as the base of YZY Money project. Its ecosystem includes Ye Pay, a crypto payment service, and YZY Card, a global spending tool that works with both YZY and USD Coin. The project calls itself the start of “a new economy” built on-chain. It focuses on payments, commerce, and wider use of digital assets.

The token will be shared through public allocations and liquidity reserves. A portion is locked in long-term vesting under Yeezy Investments LLC to show commitment and transparency. Its vesting is carried out on-chain through Jupiter Lock, an audited protocol on Solana.

The launch also introduced an anti-sniping method, with the team deployed 25 contract addresses and picked one at random as the official YZY token. It was meant to block bots and give retail buyers a fair chance. 

Suspicious Trading Movements on YZY Meme Coin

Analysts at Lookonchain highlighted wallets that seemed to know the real contract in advance. One wallet bought YZY before launch and later sold most of its holdings for a profit of more than $1.5 million, raising doubts about equal access.

YZY can be traded on Meteora on Solana. Early trading showed sharp price swings, underlining both excitement and risk. YZY shows how a celebrity launch can draw instant market attention. Its lasting value, however, will depend on Ye’s ability to deliver real payment and commerce tools beyond the early hype.

Also Read: Sonic Labs Proposes Token Issuance to Enter U.S. TradFi Markets



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Kanye West Launches Token on Solana in Frenzied Debut

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In brief

  • YZY surged to a multibillion-dollar valuation within an hour of launch before tumbling.
  • The token is framed as part of a broader “YZY Money” payments ecosystem.
  • On-chain data shows 70% of supply sits in a single wallet, raising centralization concerns.

Hip-hop artist Kanye West has made his first direct move into crypto with YZY, a Solana-based token promoted late Wednesday night on his verified X account.

“A new economy, built on chain,” West’s account posted on the social media platform, describing the project. A video of West confirming “the official Yeezy token” drop was released an hour later.

West has spoken about Bitcoin before and once sued to shut down the unauthorized “Coinye” token.YZY is the first coin he has formally launched under his own name and brand. Earlier in March, West pivoted to crypto and teased the possibility of dropping a meme coin.



His announcement has triggered a buying surge that quickly pushed the coin’s market capitalization to more than $3 billion less than an hour after it went live, before drastically dropping to less than $1 billion, according to on-chain data from Birdeye.

While YZY is clocking a 375% rise over the last 24 hours, the token is down more than 34% in the past hour to $0.99, data shows.

The token was quickly listed on platforms including CoinMarketCap and Bitget, with Poloniex announcing support shortly after. 

Trading volumes on Solana decentralized exchanges spiked, cementing YZY as one of the largest and most visible celebrity-linked coins to debut yet, eclipsing that of other launches such as TRUMP, MOTHER, and LIBRA.

Framed as part of a broader “YZY Money” ecosystem, its website describes the token as part of “a new financial system, built on crypto rails,” with YZY positioned as the native cryptocurrency of a broader ecosystem.

The website describes YZY as more than a meme coin and goes on to describe Ye Pay, a proposed payment processor aimed at reducing merchant fees, and the YZY Card, pitched as a global spending tool for YZY and USDC.

The project claims the token would support loyalty programs, retail use, and peer-to-peer transfers, but no timeline or technical details were provided.

While the site disclosed the Solana contract address and liquidity pool, questions remain about governance, compliance, and whether these features will be delivered.

West’s representatives under the Yeezy brand did not immediately return Decrypt’s request for comments on those aspects.

Bubblemaps data shows a single wallet controls about 70% of the token’s total one-billion supply, with public allocations reported at just 20% and the remainder vested under Yeezy Investments LLC, spurring concerns over centralization risks.

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NFT Gaming

DBS Launches Tokenized Structured Notes on Ethereum, Expanding Investor Access

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Singapore’s largest bank is extending its blockchain strategy by offering tokenized structured notes on the Ethereum public blockchain, in a move that broadens access to complex financial products once reserved for its private clients.

DBS said in a press release on Thursday that it will distribute the instruments through local Singapore exchanges ADDX, DigiFT and HydraX, marking its first time offering tokenized products to accredited and institutional investors outside its own client base.

The debut product is a crypto-linked participation note that pays out in cash when digital asset prices rise, while limiting downside exposure.

Structured notes traditionally carry minimum investments of $100,000 and are often customized, making them non-fungible.

By tokenizing each instrument into $1,000 units, DBS said the securities become fungible and easier to trade, offering greater flexibility for portfolio management.

Demand for such instruments has been strong as investors seek to incorporate advanced investment strategies in their digital asset portfolios, the bank said in a release.

In the first half of 2025, DBS clients executed over $1 billion of trades involving these instruments, with trade volumes growing almost 60% from Q1 2025 to Q2 2025.

The bank sees this as particularly useful for family offices and professional investors, which have grown rapidly in Singapore. The number of single-family offices in the city-state topped 2,000 in 2024, up 43% year on year, it said in a release.

The move comes as Singapore deepens its role as a hub for tokenized finance. The Monetary Authority of Singapore (MAS) has been advancing industry pilots through Project Guardian, which explores tokenization of assets across fixed income, FX and funds, while developing cross-border infrastructure like Global Layer One to pool global liquidity.

DBS has been one of the most active banks participating in these initiatives, often using permissioned blockchains for pilots before expanding into public chains.

While the initial focus is on crypto-linked notes, DBS said it will also tokenize more traditional equity- and credit-linked notes.

“Asset tokenization is the next frontier of financial markets infrastructure,” said Li Zhen, head of foreign exchange and digital assets at DBS.

“Our first tokenized product addresses the growing institutional appetite for digital assets. With this initiative, a broader segment of investors can now tap our digital asset ecosystem to build exposure to the asset class,” Zhen continued.



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NFT Gaming

‘Wilder World’ Launches First-Person Shooter Game With $100K Tournament

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In brief

  • Wilder World launched a 10-player shooter game mode in “super early access” at Gamescom, featuring deathmatch gameplay in a recreated Miami setting called Wiami.
  • The Ethereum-based project is hosting a $100,000 tournament from August 25 to September 24, with five finalists receiving all-expenses-paid trips to compete in person.
  • This shooter represents the second release in Wilder World’s broader metaverse vision targeting early 2026, which will include racing, combat, mining, concerts, and other experiences.

Wilder World launched a high-intensity shooter game mode into “super early access” at the annual Gamescom conference on Wednesday.

The Ethereum-based project aims to create a broad metaverse of gaming experiences, which kick-started last year with the launch of the racing game Wilder Wheels in partnership with Lamborghini.

The PC-based shooter is a 10-player free-for-all deathmatch that blends first and third-person perspectives. Available on Epic Games Store, each match will last for 10 minutes, with players earning points as they battle in a fragment of Wiami—which is a 1:1 recreation of Miami, and the future foundation of its open-world metaverse. Gamescom attendees will also be able to claim Samsung-branded playable NFTs.

To celebrate the launch of the game, Wilder Worlds is hosting a $100,000 tournament with qualifiers running from August 25 to September 9, before a round of playoffs and finally an in-person final at an undisclosed location on September 24. The five players who qualify will be flown out to the final, all expenses paid.

Wilder World’s shooter game mode comes as the second release in its broader metaverse vision, which is targeting an early 2026 rollout.



Pseudonymous co-founder and Executive Producer n3o told Decrypt that the full game will include “racing, combat, resource mining, exploration, concerts, art galleries, and branded cultural experiences” that “coexist within a living, player-driven economy.”

“Launching individual modes first allows us to refine gameplay mechanics at a world-class level before bringing everything together into the open world,” they added.

The project launched an Ethereum token in 2021 and approximately six months later set its all-time high of $7.44, according to CoinGecko. Wilder World said that the launch of WILD was “foundational” to building the game, as it raised over $30 million to fund development. Over the past month, WILD has climbed 37% to about $0.40, but still remains down nearly 95% from its peak price.

“Think of [Wilder World] as the world’s first truly living digital city—where you can race, fight, build, trade, attend a concert, showcase your art, or launch your own brand.” n3o told Decrypt. “We are targeting early 2026 for the full open-world release, with Super Early Access modes like racing and FPS serving as the foundation that evolves into this broader vision.”

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Circle stock price pump gains steam, but a crash may follow
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Circle launches Gateway for USDC transfers across seven blockchains

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Stablecoin issuer Circle has launched Gateway, enabling instant USDC transfers across seven major blockchains.

Summary

  • Circle launched Gateway to unify USDC liquidity across seven blockchains
  • Gateway connects USDC on Arbitrum, Avalanche, Base, Ethereum, OP Mainnet, Polygon PoS, and Unichain on launch day
  • According to Circle, Balances will be accessible cross-chain in <500 ms

Circle has made a significant step in USDC usability. On Tuesday, August 19, Circle launched Gateway on mainnet, connected to seven major blockchains. The platform unifies USDC balances across Arbitrum, Avalanche, Base, Ethereum, OP Mainnet, Polygon PoS, and Unichain on launch day. Circle announced expansions on other chains, with Arc next in line.

Currently, stablecoin liquidity is fragmented across several blockchains. For this reason, exchanges require more capital to operate, and managing their treasuries is complicated. Moreover, rebalancing creates delays and higher costs.

Gateway provides a unified USDC balance across several chains, using a mix of smart contracts and off-chain attestation. According to Circle, cross-chain transfers happen in less than 500 ms, providing a single-chain experience.

Moreover, assets in the Gateway Wallet are self-custodial, remaining under user control. Specifically, assets cannot be burned or minted without user authorization. Additionally, users can initiate a trustless withdrawal even if the Gateway API is unavailable.

Circle riding on growing stablecoin demand

Users have to deposit USDC into a Gateway Wallet contract on any chain. As soon as they do, balances update on all chains. To transfer funds, the Gateway Minter mints USDC on the destination chain while burning on the source chain.

Circle is riding the wave of growing stablecoin adoption. According to the company’s Q2 reports, the company earned $658 million in revenue, up 53% from the previous year. The main reason for this rise was an 86% in USDC circulation, driven by demand for stablecoins.



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Bitpanda launches DeFi wallet amid record revenue growth
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Bitpanda launches DeFi wallet amid record revenue growth

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Bitpanda has launched the Bitpanda DeFi Wallet, supporting over 5,000 tokens across major blockchains, just over a week after reporting record financial performance.

Summary

  • New Bitpanda DeFi Wallet supports 5,000+ tokens across multiple blockchain networks.
  • Launch comes on the heels of Bitpanda’s record $426M in revenue reported earlier this month.

In a press release shared with crypto.news, Bitpanda — one of Europe’s leading crypto platforms offering over 3,200 digital assets — has launched the Bitpanda DeFi Wallet, the second product in its Web3 suite.

The wallet allows users to trade, earn, and manage digital assets across multiple chains without leaving the app. At launch, it supports over 5,000 tokens and multiple blockchain networks including Ethereum (ETH), Solana (SOL), Polygon (POL), BNB Chain (BNB), Avalanche (AVAX), Optimism (OP), Base (BASE), and Arbitrum (ARB).

Key features include:

  • Multi-chain DeFi access with more networks planned
  • Smart swaps across 5,000+ tokens with optimized pricing
  • Self-custodial wallet with optional Bitpanda Backup for secure recovery
  • Curated DeFi yield pools, reviewed for transparency
  • Sponsored gas fees on select Layer 2 networks
  • Seamless integration with existing Bitpanda accounts, enabling transfers without manual address input

Bitpanda will also soon launch a Web3-native loyalty program, where users can earn points via onchain actions, with staked Vision (VSN) tokens acting as multipliers to maximize rewards — including exclusive perks and early access to new products.

Recent milestones for Bitpanda

The launch of the Bitpanda DeFi Wallet builds on a series of major milestones and strategic moves by the company.

Earlier this month, Bitpanda posted its strongest financial performance to date, generating $426 million in operating revenue, up 162% from the year before, driven by new partnerships and its growing range of regulated offerings.

The company also secured a MiCA license from Germany’s BaFin in January, enabling operations across all 27 EU member states under a unified regulatory framework, and obtained a broker-dealer license in Dubai, marking its first fully licensed expansion outside Europe.



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Wyoming State Launches Frontier Stable Token (FRNT)
Crypto Trends

Wyoming State Launches Frontier Stable Token (FRNT)

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Wyoming state announced on Tuesday the mainnet launch of its U.S. dollar stablecoin Frontier Stable Token (FRNT), claiming it to be the first fully-reserved stablecoin in the country issued by a public entity.

“The mainnet launch of the Frontier Stable Token will empower our citizens and businesses with a modern, efficient, and secure means of transacting in the digital age,” Mark Gordon, governor of Wyoming and chairman of the Wyoming Stable Token Commission, said in a statement.

The token has already been deployed on the Arbitrum

, Avalanche , Base, Ethereum , Optimism , Polygon (POL), and Solana networks, blockchain data on the project’s website shows. The token is designed to be 2% over-collateralized, backed by U.S. dollars and short-duration U.S. treasuries held in trust.

The token will be available for the broader public in the coming days on Solana through Wyoming-domiciled exchange Kraken and Rain’s Visa-integrated card platform on the Avalanche blockchain, the press release said.

The announcement, coincided with the Wyoming Blockchain Symposium conference in Jackson Hole, Wyoming, follows the U.S. enacting federal laws with the GENIUS Act to regulate the fast-growing stablecoin sector and issuers.

Stablecoins are a $260 billion class of cryptocurrencies with prices tied to an external asset like the U.S. dollar. They could become a trillion dollar market in the next few years and disrupt payments flows as adoption in the real economy expands, crypto trading firm Keyrock projected in a recent report.

Wyoming, known for its forward stance on blockchain legislation, created the Wyoming Stable Token Commission in 2023 to develop and issue a U.S. dollar-backed token and oversee its integration into public finances. Last month, the state conducted a test transaction for real-time government contractor payment on the Avalanche-based Hashfire.

The Commission has partnered with LayerZero for token issuance, Fireblocks for blockchain infrastructure, Franklin Advisers for reserves management, Inca Digital for open-source intelligence and The Network Firm for audits and monthly attestations, all selected through a procurement process, the press release said.

Read more: U.S. Treasury Department Starts Work on GENIUS, Gathering Views on Illicit Activity



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Tesla Competitor Launches Crypto Strategy
Crypto Trends

Tesla Competitor Launches Crypto Strategy

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  • A 98% plunge
  • Tesla’s Bitcoin holdings  

Faraday Future (NASDAQ: FFAI), a zombie EV company, recently unveiled its own cryptocurrency strategy, joining a broader craze.

The company has announced the C10 Index, which is a basket of cryptocurrencies weighted by market cap. Bitcoin makes up almost half of the index. Ethereum (ETH) has a 24% share.

The company has already purchased $30 million worth of crypto, and it plans to increase this sum to as much as $1 billion.

A 98% plunge

Faraday Future, which was founded back in 2014, emerged as an early Tesla competitor.

In 2016, it introduced its flashy Batman-like FFZERO1 concept car that allegedly showcased its technology.

However, the company has been grappling with production delays as well as limited vehicle deliveries.

In 2021, it received a Wells notice from the U.S. Securities and Exchange Commission (SEC) related to its SPAC merger.

The stock has plunged by roughly 98% from its peak, which is a typical SPAC boom-and-bust story.

Tesla’s Bitcoin holdings  

In the meantime, Tesla remains the 11th largest Bitcoin treasury company with total holdings of 11,509 coins.

The company initially purchased $1.5 billion worth of BTC in February 2012, propelling the cryptocurrency’s bull run.



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Nexon launches investigation into claims AI-generated The First Descendant ads were used on TikTok
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Nexon launches investigation into claims AI-generated The First Descendant ads were used on TikTok

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Nexon said it has launched an investigation after The First Descendant players noticed a number of seemingly AI-generated advertisements on TikTok, including one that used a content creator’s likeness without permission.

The developer/publisher issued a statement after Reddit user iHardlyTriHard penned a viral post collating four AI-like advertisements they had found after “only 10-15 minutes” browsing their For You Page.

The statement did not apologize directly for the AI advertisements but did apologize for “the delay in providing notice as the [investigative] review is taking longer than expected.” Nexon did not, however, explain when it was notified of the adverts, or when it launched its review.

Nexon said it wanted to “inform [players] of certain irregularities identified in the operation of [its] TikTok Creative Challenge for creators,” and said the campaign “allows creators to voluntarily submit their content to be used as advertising materials.” It also stressed that all submitted videos had been “verified through TikTok’s system.”

“However, we have become aware of cases where the circumstances surrounding the production of certain submitted videos appear inappropriate,” the statement added. “Thus, we are conducting a thorough joint investigation with TikTok to determine the facts.

“We sincerely apologize for the delay in providing this notice as the review is taking longer than expected. Once the verification is complete, we will promptly share an update through an official notice. Thank you for your patience and understanding.”

Nexon has yet to respond to DanieltheDemon’s public claim that he “did not consent for my likeness to be used.”



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