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Bitcoin And Ethereum Funds Shed $1.1 Billion While Solana Investment Products Gain $291 Million - Report
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Bitcoin And Ethereum Funds Shed $1.1 Billion While Solana Investment Products Gain $291 Million – Report

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According to a CoinShares report published earlier today, global crypto investment products related to Bitcoin (BTC) and Ethereum (ETH) experienced total outflows of $1.1 billion over the past week. In contrast, Solana (SOL) investment products attracted $291 million in inflows.

Bitcoin, Ethereum Products Bleed While Solana Shines

Crypto investment products experienced a total net outflow of $812 million over the past week, primarily driven by Bitcoin products, which incurred $719 million in weekly outflows. Ethereum followed with its investment products, losing funds worth $409.4 million.

The report attributes the outflow in BTC and ETH investment products to the lower expectations of interest rate cuts this year, following the stronger-than-anticipated macroeconomic data in the US. Notably, the GDP and durable goods figures were revised to the upside, showing resilience in the economy.

That said, cumulative month-to-date (MTD) inflows remain strong, hovering around the $4 billion mark. Similarly, the cumulative year-to-date (YTD) inflows stand at $39.6 billion, inching closer to last year’s record $48.6 billion inflows.

Notably, BlackRock’s iShares spot Bitcoin exchange-traded fund (ETF) lost $68 million in funds. Meanwhile, Grayscale Investments’ GBTC ETF saw $300 million in outflows, while Fidelity’s FBTC witnessed outflows to the tune of $738 million. The report adds:

Importantly, there was no commensurate increase in short-bitcoin investment product demand, suggesting that the negative sentiment was likely low-conviction and likely to prove temporary.

In terms of countries, the US saw outflows to the tune of $1.03 billion, while Sweden-based crypto investment products lost $13.4 million in funds. On the contrary, Swiss products gained $126 million, while Canadian investment products attracted $58.6 million in inflows.

Unlike Bitcoin and Ethereum investment products, Solana investment products shone as they attracted inflows worth $291 million. Even more impressive, Solana products have pulled in $1.8 billion worth of funds on a YTD basis.

Besides the positive momentum in investment products, SOL is also seeing bullish price action as it steadily moves toward its all-time high (ATH) value of $293, recorded earlier this year in January.

Analysts say that SOL’s recent positive price action can be attributed to the rising likelihood of spot SOL ETFs getting approved in the near term. A recent report remarked that SOL-based ETFs could be approved in as little as two weeks.

Will Macroeconomic Factors Benefit Cryptocurrencies?

Latest data from FedWatch gives an 68% probability of the US Federal Reserve (Fed) lowering interest rates by 50 basis points (bps) during its December 10 meeting. The rate cut is expected to benefit risk-on assets, including cryptocurrencies like BTC, ETH, and SOL.

Source: FedWatch

In addition, future lower-than-expected inflation readings may further encourage the Fed to slash interest rates on an even larger scale. At press time, BTC trades at $113,628, up 3.1% in the past 24 hours.

Bitcoin trades at $113,628 on the daily chart | Source: BTCUSDT on TradingView.com

Featured image from Unsplash.com, charts from FedWatch and 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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Silent Hill f Achieves 1 Million Copies Sold In Less Than A Week
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Silent Hill f Achieves 1 Million Copies Sold In Less Than A Week

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Silent Hill f has already achieved a major sales milestone less than a week after its September 25 launch. The new mainline entry has already crossed the 1 million sales mark.

Konami states the 1 million sales number reflects digital and physical copies across all platforms since September 26. That means Silent Hill f achieved this milestone in four days. This early sales success complements a very positive critical reception to the game; Silent Hill f currently boasts an 86 percent critical score on Metacritic.  Silent Hill f is the first mainline entry in the series in over a decade, and unfolds in a rural Japanese village during the 1960s. It stars a teenage girl named Hinako who must fight for survival after a sinister fog sweeps through her town and transforms its residents into monsters. 

 

These sales numbers must be especially reassuring for Konami as it continues its successful resurrection of the popular horror IP, following last year’s also well-received Silent Hill 2 remake. In terms of the series’ future,  Konami still has the mysterious Silent Hill: Townhall from Observation developer No Code and co-published by Annapurna Interactive. Most recently, Konami announced that a remake of the first Silent Hill game is in development. There’s Return to Silent Hill, a film adaptation of Silent Hill 2, which recently premiered its first trailer.

For more on Silent Hill f, you can read our review here. You can also listen to a few Game Informer editors discuss the game in this episode of The Game Informer Show podcast. 



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Alphabet will pay $22 million to settle President Trump’s YouTube lawsuit

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Alphabet will pay President Donald Trump $22 million as part of a settlement in a class action lawsuit brought against the company over the suspension of various YouTube accounts following the January 6 riot at the US capital, as first reported by the Wall Street Journal. The suit includes other plaintiffs whose YouTube channels were banned that will split an additional $2.5 million in settlement payouts.

Trump filed the suit in 2021, alongside lawsuits against Twitter and Facebook over similar suspensions, claiming they infringed on his first amendment rights. Twitter, now known as X since its acquisition and rebrand by Elon Musk, paid President Trump roughly $10 million to settle that suit. Meta also settled its suit with the president over his suspension from the platform for $25 million earlier this year.

This settlement comes shortly after Alphabet wrote a letter to the House Judiciary Committee lambasting government pressure to moderate content on its platforms. The company also shared that YouTube would be offering a path to reinstatement for accounts previously banned for COVID-19 or election integrity related misinformation.

The settlement from Alphabet will be paid to the Trust for the National Mall, a nonprofit partner of the National Park Service, and will be earmarked for construction of the ballroom that President Trump is building at The White House. The monies from the Meta settlement were similarly earmarked.

This summer Paramount, parent company of CBS, settled a lawsuit brought by the president over claims that the network intended to “confuse, deceive and mislead the public” by editing an interview with Kamala Harris. The media company paid $16 million to settle the president’s suit. Three weeks later the FCC approved the $8 billion acquisition of Paramount by Skydance.



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Bitcoin Whale Awakens After 12 Years to Move $44 Million in BTC

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In brief

  • An old address holding 400 Bitcoin worth over $44 million has moved their “digital gold.”
  • The coins had sat in the digital wallet since November 2013. Bitcoin is up 16,000% since then.
  • A growing number of “Satoshi-era” investors have moved their Bitcoin in recent months with BTC steadily above $100K.

Another long-term Bitcoin investor is back in action and making moves.

Data from Arkham Intelligence shows that an address holding over $44 million in digital coins made a transaction after 12 years of dormancy.

Sunday was the first time the 400 Bitcoin had been touched since they arrived in the digital wallet in November 2013— just four years after the oldest blockchain came to life.



Back then, the price of Bitcoin stood at around $720, according to CoinGecko. It’s now trading for over $114,000—a nearly 16,000% rise. As is often the case, it’s unclear who owns the wallet, as such personally identifying information isn’t included on the blockchain.

Back in 2013, the lowest price the oldest cryptocurrency touched was a mere $13. It soared to over $1,132 by the end of the year. 

Old addresses holding such large amounts of Bitcoin likely belong to miners—people or companies—who started minting new coins during the digital asset’s early years.

Back then, new coins could be produced using desktop computers. But now in the increasingly industrialized Bitcoin mining world, companies use warehouses full of computers to process transactions on the crypto network. 

A number of big, long-term Bitcoin holders—known as “whales”—have started moving coins this year as the cryptocurrency dubbed “digital gold” trades comfortably above $100,000. Such moves have, in the past, spooked markets, as traders largely interpret such reactivations of old wallets as an intention to sell off the stash.

At the moment, market sentiment on Bitcoin has once again flipped bullish, with users on Myriad—a prediction market developed by Decrypt’s parent company Dastan—now favoring a move to $125K over a drop to $105K at nearly 58%. Those odds had dropped as low as 29% just yesterday.

Back in July, a whale sold more than 80,000 Bitcoin—over $9 billion at the time—after holding the coins for 14 years. Analysts were initially puzzled, but institutional crypto firm Galaxy later revealed it had executed the sale for the unidentified Satoshi-era investor.

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Bitcoin Rockets 4% Amid Massive $442 Million Whale Move
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Bitcoin Rockets 4% Amid Massive $442 Million Whale Move

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  • Bitcoin sees 140% volume surge as whales activate
  • BTC holds above $110,000

The Bitcoin ecosystem has witnessed renewed momentum as trading activities soared dramatically over the last day. 

On Monday, September 29, on-chain tracking platform Whale Alert identified a massive Bitcoin transfer involving over 3,900 BTC, according to its latest X posts.

Further data revealed that the large BTC transfers were executed via unidentified wallet addresses in two separate transactions. Together, the transfers amounted to more than $442 million.

Notably, these transactions have raised eyebrows across the crypto community, coming at a time when investor sentiment suddenly shifted, driving crypto asset prices sharply upward.

Bitcoin sees 140% volume surge as whales activate

Following the move, Bitcoin not only posted strong daily gains, rebounding above the $113,000 mark, but also recorded a massive 140% surge in trading volume over the last 24 hours.

While the large transactions coincided with the market’s positive momentum, it appears that rising whale activity has contributed to the asset’s price recovery, though the mysterious nature of both transfers makes it difficult to confirm whether they were buy attempts or sell-offs.

Historically, large and unidentified BTC transfers like these are often traced to institutional redistribution activities or moves by high-net-worth investors.

With multiple significant BTC transactions spotted among firms such as BlackRock and Strategy today, it appears that whales are actively positioning ahead of what could be a major market event.

BTC holds above $110,000

After days of trading deep in the red and falling below $110,000, confidence seems to be returning as Bitcoin now holds well above that level, trading at $113,856 at the time of writing.

Source: CoinMarketCap

With trading volume rocketing 140% and price gains reaching 4%, analysts predict Bitcoin is heading toward resistance between $113,500 and $114,000, potentially setting the stage for a strong start to the new month.



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‘Trillions’ Meme Coin Surges to $60 Million Market Cap on Stablecoin Network Plasma

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In brief

  • Stablecoin network Plasma has meme coins now after entering “mainnet beta” last week.
  • The Trillions token hit a $60 million market cap on Sunday, before falling sharply.
  • It references a meme at the foundation of the Plasma thesis, predicting the total stablecoin market cap to be in the trillions of dollars.

A meme coin deployed on the Plasma stablecoin network peaked at a $60 million market capitalization on Sunday. It follows Plasma hitting “mainnet beta” last week, attracting $5.5 billion in total value locked, and its XPL token soaring to a $2.3 billion market cap.

The Trillions token is based on a meme at the core of the Plasma thesis, with the project referencing it as early as December 2024. However, it wasn’t until February 2025 that the meme took off both internally and externally, a Plasma representative told Decrypt before the network hit mainnet.

White House AI and Crypto Czar David Sacks said that stablecoins could create “trillions of dollars of demand for U.S. treasuries,” due to tokens often purchasing treasuries for their reserves. Plasma simply reposted this clip in February saying “trillions,” and it went viral despite the network having a small following at the time. A meme was born.

Plasma is a layer-1 network that’s optimized for stablecoin transactions, such as gasless USDT transfers. However, it is still a permissionless blockchain, meaning that anyone can build on top of it. And, with its “mainnet beta” launch being an apparent success, crypto degens have flocked to the stablecoin network to trade meme coins.

And it’s not only the Trillions token that has hit a market cap in the millions: other Plasma meme coins like Bankless, dog-themed coin Luna, and a Pepe clone have also soared. It appears that most of these coins are being created on the multi-chain launchpad, DyorSwap.



Despite the meme coin buzz, Plasma declined to comment as the project does not endorse meme coins on the chain. However, a Plasma representative previously explained to Decrypt how the trillions meme originated and evolved.

Following Sacks saying “trillions” and the Plasma post going viral, the company decided to embrace the meme. It became a way for Plasma employees to sign off social media posts and hype each other up—akin to the Milady cult signing off posts with “Milady.”

The trillions meme later evolved to also include “pre-trillions,” a Plasma representative previously explained, as a nod to the pre-rich meme that had taken over the crypto community. 

When Plasma entered mainnet beta last week, users celebrating their XPL airdrop on social media adopted the “trillions” kicker. That same day, the Trillions meme coin was created, bubbling below a $10 million market cap before exploding to $60 million on Sunday. It has since plunged to an $18 million market cap, according to DEX Screener.

XPL, Plasma, with an unexpected airdrop of 5 figs to discord community members

Launching before MegaETH and Monad

Trillions

— Loopify 🧙‍♂️ (@Loopifyyy) September 18, 2025

Such a market cap is notable in the current meme coin landscape, with activity in the Solana trenches hitting a six-month low. It comes as crypto traders look to highly leveraged perp futures bets to feed their taste for degenerate trades.

Jokes aside, Plasma believes that the stablecoin industry will grow to be worth trillions of dollars, and hopes to host a sizable chunk of that. Less than a week after its debut, per DefiLlama, Plasma is the fifth-largest network for stablecoins ahead of the likes of Hyperliquid, Aptos, and Base. 

At the time of writing, according to DefiLlama, the total stablecoin market cap is $297 billion, meaning a 236% increase is needed for a trillion-dollar valuation to be achieved.

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Korean Actor Hwang Jung-eum Gets Suspended Term In $3 Million Crypto Case

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In brief

  • South Korean actor Hwang Jung-eum received a suspended prison sentence for embezzling $3 million from her agency to invest in crypto.
  • The Jeju District Court showed leniency after Hwang repaid the entire embezzled amount and was deemed a first-time offender.
  • The scandal derailed her career, with TV shows editing her out and advertisers dropping her from campaigns.

South Korean actress Hwang Jung-eum walked out of Jeju District Court in tears Thursday after receiving a two-year suspended prison sentence for embezzling $3 million from her own agency to invest in crypto.

The court handed Hwang the suspended sentence, meaning she will serve no jail time unless she commits another crime within four years, for violating Korea’s Act on the Aggravated Punishment of Specific Economic Crimes, according to a Korea JoongAng Daily report.

Prosecutors had sought a three-year jail sentence in August, but judges cited her repayment of the full amount and her status as a first-time offender who had made full restitution.



Hwang embezzled about 4.34 billion won ($3.1 million) from her agency in early 2022, as per the indictment cited in the report.

Approximately 4.2 billion won of that sum was invested directly in crypto, while the remainder was used to pay property and local taxes via credit card payments, Decrypt reported earlier.

Kadan Stadelmann, CTO at Komodo, told Decrypt that East Asian and Western regulators now show “similar outcomes when it comes to enforcing the law against crypto embezzlers,” though the West has historically had an edge in “blockchain analytics.” 

Asia is “catching up,” he noted, suggesting South Korea could look to U.S. financial controls where the FTC enforces “transparency, disclosure, and accountability” in celebrity crypto promotions, standards that could guide oversight of talent agencies and sports firms.

In Hwang’s case, the company involved was a family-run corporation solely owned by her, with only one actor under management, herself. At her first trial on May 15, Hwang admitted to all charges and requested additional time to repay the full amount.

The court showed leniency after Hwang sold personal assets and repaid the entire embezzled amount in installments. 

She had returned about 3 billion won by her first trial, then covered the remainder on May 30 and June 5. 

“I was just trying to work hard and live honestly, but I neglected financial and tax matters, which led to this situation,” Hwang said during her final hearing on August 21. “I am remorseful.”

Her legal team said that the misused funds originated from her personal entertainment income and were temporarily held in her name because corporations are restricted from holding crypto directly, according to the report.

“Since the agency’s profits ultimately stem from the defendant’s own work, they can be seen as rightfully belonging to her,” Hwang’s attorney said in court.

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Kraken Secures $500 Million In Latest Funding Round, Boosting Valuation To $15B

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

US-based cryptocurrency exchange Kraken, has successfully closed a $500 million funding round, achieving a valuation of $15 billion, as reported by Fortune. This significant milestone comes as the company gears up for its anticipated initial public offering (IPO), which is expected to take place next year.

Kraken’s Valuation Rises To $15 Billion

In July, The Information reported on Kraken’s intentions to raise this substantial amount, and recent updates confirm that the funding round was finalized this month without a primary investor. 

Instead, Kraken set the terms of the deal, including the valuation figure. Among the contributors to this funding round were various investment managers and venture capitalists, notably including the exchange co-CEO Arjun Sethi’s Tribe Capital, as well as Sethi himself in a personal capacity.

This latest valuation marks a notable increase from the $11 billion the exchange reached in 2022, when it raised an undisclosed sum. Kraken has demonstrated strong financial performance in recent years, reporting $1.5 billion in revenue for 2024, with an additional $472 million generated in the first quarter of 2025. 

Currently, the exchange handles an impressive daily trading volume of $1.37 billion, making it the second largest in the United States after Coinbase (COIN), which already went public back in April, 2021. 

Crypto IPO Boom

The crypto landscape has experienced a notable shift this year, as investor sentiment has evolved from a period of exuberance in 2021 to a more cautious approach. 

However, the appetite for public offerings among crypto firms has resurged, driven by favorable regulatory developments. This shift has sparked a wave of IPO activity in the cryptocurrency sector with Circle (CRLC), and Bullish (BLSH), capitalizing on the rising interest toward crypto stocks.

In addition to its funding success, Kraken is aggressively expanding its services beyond traditional cryptocurrencies. The company has ventured into tokenized stocks, positioning itself at the forefront of this emerging market. 

Furthermore, it recently acquired the US-regulated retail futures trading platform NinjaTrader for $1.5 billion, with plans to extend its reach into the UK, Europe, and Australia.

Earlier in the year, Kraken also acquired a Cyprus-based company to secure a Markets in Financial Instruments Directive (MiFID) license, enabling it to offer derivatives across the European Economic Area (EEA). 

On the political front, Kraken has committed to donating $2 million to two pro-crypto political action committees (PACs), reinforcing its dedication to advocating for privacy and innovation rights in the United States. 

Co-CEO Arjun Sethi emphasized the ongoing battle for the future of cryptocurrency in the US, noting a significant shift in the political climate from “fear to understanding” throughout 2025.

The daily chart shows the total crypto market capitalization currently at $3.7 trillion. Source: TOTAL on TradingView.com

Featured image from Bloomberg, 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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Tennessee Couple Hit With $6.8 Million Penalty for ‘Blessings of God Thru Crypto’ Fraud

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In brief

  • Michael and Amanda Griffis pleaded guilty to defrauding 145 investors out of $6.5 million through their fraudulent “Blessings of God Thru Crypto” commodity pool.
  • The scheme involved a fake trading platform designed to look like the legitimate Apex trading platform and guidance from the mysterious “Coach Wendy,” whose identity remains unknown.
  • Victims were duped into believing their funds would generate high returns through crypto futures trading, but more than $4 million vanished through an illegitimate overseas exchange.

A Tennessee couple who exploited their real estate connections to bilk investors out of millions through a fake crypto trading scheme has been ordered to pay over $6.8 million in restitution and penalties.

The Commodity Futures Trading Commission announced Thursday that the U.S. District Court for the Middle District of Tennessee entered a consent order against Michael and Amanda Griffis, Clarksville real estate agents who operated the fraudulent “Blessings of God Thru Crypto” commodity pool from 2021 to 2023. 

The couple was first charged by the CFTC in July 2023.

The regulator said the couple used their real estate business connections to persuade 145 investors to hand over $6.5 million, promising the money would generate profits through crypto futures trading on what they claimed was the legitimate Apex platform under the supervision of the mysterious “Coach Wendy.”



Under the court order, the couple must pay more than $5.5 million back to the victims and face an additional $1.35 million “civil monetary penalty.”

The Griffises funneled money into a sham platform modeled on an overseas exchange, while the true identity of “Coach Wendy” remains unknown to investigators.

Over $4 million was funneled offshore after hitting the fake exchange, while the rest covered the couple’s personal debts and expenses. Only about $855,000 was paid back to participants in Ponzi-style payouts, the CFTC said.

The ruling also imposes lifetime bans preventing them from commodity trading or CFTC registration, while barring future violations of federal commodity laws.

This case is part of a troubling pattern of fraudsters exploiting trust within community groups, like a Denver pastor and his wife that were recently ordered to repay $3.39 million after raising millions for worthless church tokens. Other examples include a Long Island man hit with a $228 million CFTC judgment, and a nine-year prison sentence for a Ponzi scheme operator that preyed on his Haitian church community.

In the latest case, investors may have ignored warning signs that could have indicated the fraud in question.

“An exchange website without any registered company details is a clear red flag that users could have noticed,” Karan Pujara, founder of scam defense platform ScamBuzzer, told Decrypt. 

Pujara said fraudsters often chase “quick money,” aiming to leave before being caught—and warned that in crypto, once funds are lost, they can move “across borders quickly,” making recovery difficult.

Even regulated platforms can fail investors, as seen with FTX, which held licenses but still misused customer funds, he noted.

Pujara advised investors to spread risk by using multiple exchanges and hardware wallets, noting, “Those who diversified kept their losses manageable, while those who concentrated all their funds in one place faced major losses.”

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DeFi Community On Alert Following Hypervault’s $3.6 Million Suspected Rug Pull

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Decentralized finance (DeFi) protocol HyperVault is suspected to have executed a “rug pull,” as on-chain analytics account PeckShield noted an abnormal outflow of funds from the protocol, worth close to $3.6 million. 

DeFi Protocol HyperVault Pulls The Rug

According to an X post by on-chain analytics account PeckShield, Hyperliquid-based DeFi protocol HyperVault appears to have pulled a quick one on its users, defrauding them of funds worth almost $3.6 million.

PeckShield noted that the stolen funds were bridged from Hyperliquid to Ethereum, swapped into ETH, and then 752 ETH were deposited into Tornado Cash. For the uninitiated, Tornado Cash is a popular crypto mixer that is typically used by hackers to erase their on-chain trail.

Notably, UPUMP tokens worth $191,494, USDC worth $107,358, WHYPE worth $1.55 million, and several other tokens were stolen from HyperVault. PeckShield noted that HyperVault have also deactivated all their socials – including the X handle – virtually confirming the rug pull.

To explain, a rug pull is a type of crypto scam where developers suddenly abandon a project and drain its funds, leaving investors with worthless tokens. It’s common in DeFi and NFT spaces, where anonymity and lack of regulation make quick exits easier.

HyperVault offered “unmanaged” auto-compounding vaults, strategy adapters, and keeper-bot harvests. These features helped users route their digital assets to lending, looping, and concentrated liquidity venues on HyperEVM.

Another X user HypingBull, commented, saying that they had been warning about HyperVault since September 4. In an X post, the user stated that the protocol’s developers lied to them about audits, adding:

I have just reached Pashov (blockchain audit firm) on Telegram, asking if Hypervaut is doing an audit via them. The answer was: “First time I hear the project with this name”. WTF? This is super suspicious. I am withdrawing all the funds from the protocol until the team clarifies what’s going on.

Unfortunately, users continued to deposit funds into the DeFi protocol, lured by the protocol’s promised 90% APR yields on HYPE tokens. However, the extraordinarily high-yield promises at the time did not raise the alarm among users.

That said, the HYPE token appears to be minimally impacted by this suspected rug pull, as it is trading at $42.89 at the time of writing, up 2.8% on the day. However, the token is down almost 25% over the past week.

Crypto Still The Wild West?

While the total crypto market cap now hovers over $3.8 trillion, the safety of users continues to be a major factor hindering the industry from mainstream adoption. For example, crypto phishing attacks recorded a significant surge in August 2025, impacting as many as 15,230 victims, resulting in a loss of $12 million in user funds.

Similarly, the THORChain Founder lost $1.35 million earlier this month after a deepfake Zoom and Telegram scam. At press time, Bitcoin (BTC) trades at $109,488, down 1.6% in the past 24 hours.

Bitcoin trades at $109,488 on the daily chart | Source: BTCUSDT on TradingView.com

Featured image from Unsplash.com, 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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