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Marathon still lives, as Bungie announces new closed technical test ahead of public update
Game Reviews

Marathon still lives, as Bungie announces new closed technical test ahead of public update

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Bungie has announced a closed technical test for its forthcoming shooter Marathon, which will take place later this month.

The limited, invite-only test will be in North America and Europe across PS5, Xbox Series X/S, and Steam, with players able to sign-up now. The test itself will take place from 22nd – 27th October.

Marathon was fully revealed back in April, but in June Bungie indefinitely delayed the extraction shooter due to “passionate” fan feedback that was heavily critical.

Marathon | Gameplay Overview TrailerWatch on YouTube

Since then, Bungie has run several closed tests to gather further feedback. Now, it’s opening the playtests further.

“This is an important checkpoint for us as we test our improvements since Alpha, including three maps, five runner shells, prox chat, re-tuned combat pacing, solo queue, deeper environmental storytelling, and more,” said Bungie. “That said, the Technical Test build is a work in progress and will only include a portion of what’s planned for Marathon’s full release, focused on the early player experience.”

A public update on Marathon’s development is due “in the coming months”, following this playtest.

The test is also under NDA, meaning feedback won’t be made public.

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Development of Marathon feels like a critical time for Bungie. Following its acquisition by Sony back in 2022, Bungie has failed to release a hit game, Destiny 2 player counts have dropped, and the company has been rocked by accusations of toxicity right up until this year.

Bungie admitted after Marathon’s reveal the game used an external artist’s work without permission and morale was reportedly in “free fall” as it dealt with the response to the game.

CEO Pete Parsons has since left the company after years of criticism and layoffs.

As for Sony, it’s keen not to repeat mistakes made in the release of the ill-fated live-service shooter Concord, which Marathon has already been compared to. Back in August, chief financial officer Lin Tao admitted the company’s live-service strategy is “not entirely going smoothly”.



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Ethereum
NFT Gaming

BitDigital Becomes First Public Ethereum DAT To Deploy Unsecured Leverage – Details

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

BitDigital (NASDAQ: BTBT) is breaking new ground in finance, becoming the first publicly traded Ethereum DAT to deploy unsecured leverage. The move is an evolution in how public blockchain companies raise capital, blending traditional debt instruments with decentralized infrastructure models. 

Why This Move Redefines Capital Formation For Ethereum DATs

In an X post, BitDigital_BTBT revealed that the company has made history as the first publicly traded Ethereum Digital Asset Treasury (DAT) to deploy unsecured leverage through a convertible notes offering, marking a new milestone in blockchain-based corporate finance. The latest move by the financial behemoth will be beneficial to the company shareholders. 

However, this initiative will enhance capital efficiency for shareholders, without immediate dilution notes due in October 2030. The proceeds will be used to acquire ETH, expand BitDigital’s treasury, and increase institutional staking capacity.

This strategic financing deepens BitDigital’s exposure to ETH, while positioning the asset as a programmable treasury instrument capable of generating institution-grade staking yield. By leveraging traditional debt structures within a decentralized framework, BitDigital reinforces its leadership in ETH-native treasury management and staking strategies. The move also signals ETH’s advanced role in institutional finance, bridging the gap between Web3 infrastructure and legacy capital markets.

Amid the growing exposure to Ethereum, multiple potential projects are being consistently launched on the leading chain. Kriptoloji, an ambassador at Irys_xyz, points out that their restaking design project’s focus isn’t on flashy incentive yields, but on building genuine utility and layering right on top of ETH’s ecosystem. Kriptoloji noted that most projects in DeFi tend to chase the same hype cycles and loops, but Ekoxofficial is building something different with this move. Instead of creating another yield, it aims to make network participation more seamless, efficient, and sustainable.

Meanwhile, the early indicators suggest that a well-received testnet, growing momentum from the Arichain collaboration, and a pipeline of upcoming integrations are starting to establish the foundation for credibility as a long-term infrastructure play rather than a fleeting experiment. “This is not financial advice, but the way they are structuring it’s definitely something worth paying attention to.” Kriptoloji mentioned.

Institutional Adoption Strengthens ETH Long-Term Outlook

Ethereum is still very much recognized at the institutional level. Goldman Sachs’ latest report reveals a powerful trend unfolding as institutional investors are deepening their involvement with ETH, with over $3.5 trillion in assets under management (AUM) now linked to the ecosystem. 

This level of exposure highlights the ETH transformation from a speculative blockchain into a critical layer of institutional-grade infrastructure. According to Crypto Patel, Elite KOL CoinMarketCap and Binance, this institutional pivot is one of the strongest bullish signals for ETH’s future.

ETH trading at $4,490 on the 1D chart | Source: ETHUSDT on Tradingview.com

Featured image from iStock, 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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EA's takeover, the Saudi Arabian Public Investment Fund, and "vanity mega projects": Human Rights Watch assesses the impact of gaming's latest controversy
Game Reviews

EA’s takeover, the Saudi Arabian Public Investment Fund, and “vanity mega projects”: Human Rights Watch assesses the impact of gaming’s latest controversy

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Earlier this week, history was made in both the world of video games and private equity. The trio of Affinity Partners, Silver Lake, and Saudi Arabia’s Public Investment Fund announced a plan to take EA private for $55bn. This leveraged buyout would be the largest in history and, if approved, will mean the industry giant would be a private company in 2027.

This immediately raised concerns throughout the industry. Despite a statement by EA CEO Andrew Wilson saying the company’s values would remain the same, many were concerned at the $20bn of debt the company would be saddled with. Would EA still support studios like Bioware to make the games it wants to make? Among all this, there were also concerns of a moral nature, due to the involvement of Saudi Arabia’s government in the deal.

Eurogamer spoke to Human Rights Watch’s Saudi Arabia researcher, Joey Shea, to discuss the ethical dilemma at the heart of the buyout. Human Rights Watch – which has yet to issue a comment on the deal – has comprehensively covered the ongoing human rights abuses taking place in Saudi Arabia, and how the Public Investment Fund is directly tied to such abuses.

Watch the Battlefield 6 multiplayer trailer here.Watch on YouTube

“We have found that the public investment fund has contributed to, and is responsible for, human rights abuses” states Shea. “This is a trillion dollars in Saudi state wealth that should be invested to realise the economic and social rights of Saudi citizens. We’ve found it’s been invested in vanity mega projects inside and outside of the country.

“We see this as a deliberate attempt to distract from the country’s human rights abuses […] MBS himself wields enormous power over what is effectively public funds, and he wields this power in a highly arbitrary and personalised manner, rather than the benefit of the Saudi people more broadly. Effectively, Saudi Arabia’s vast fossil fuel-derived state wealth is controlled by one person, which isn’t good for human rights, or business either.”

Saudi Arabian investment through the Public Investment fund is generally broken into two categories: investments to improve the standing of Saudi Arabia worldwide, and investments to bring foreign business and investment to Saudi Arabia itself. According to Shea, video games fall inside the former category as sports entertainment.

“Vision 2030 (a major Saudi government investment plan) is the core economic diversification plan for Saudi Arabia, and within the earliest versions of this plan it explicitly stated that these large investments in sports entertainment options was part of a strategy to enhance the reputation of the country nationally.”

After SNK was bought by Saudi Arabia, Fatal Fury City of the Wolves was used to help promote the state and its other investments. | Image credit: SNK

Some have argued that accepting Saudi Arabian investment through the PIF can be separated from the actions of its government, that no country is innocent and everything is tainted. However, according to Shea, the Saudi Arabian Public Investment Fund is directly linked to its human rights abuses. The money used for the EA buyout may itself be attached to these acts.

Shea explains: “In a report we released last year, we documented how the PIF itself has benefited from Human Rights abuses. For example, if we go back to 2017 and the notorious corruption crackdown and the Ritz Carlton, we found that assets that were seized outside of any recognisable legal process wound up in the PIF. Your investment vehicle contains assets that were stolen – that’s a problem!

“We also found that one of those assets that were seized illegally was a company called Sky Prime aviation. This is the company that owned the planes that transferred the hit squad to Istanbul where they murdered Jamal Khashoggi. So if one of the assets your investment fund owns is committing transnational murder in a consulate… that’s pretty outrageous.

“Our call is never ‘don’t invest in Saudi Arabia, don’t invest in Saudi Arabia’. We don’t have a standing boycott. But businesses have a responsibility under the UN guiding principles of Business and Human Rights to do due diligence assessments before engaging in a business relationship, to assess whether that relationship will lead to human rights harm. If it does you should, of course, not engage in that relationship.”

Once the deal goes through, all of EA’s games will be connected to the Saudi state and its human rights abuses. | Image credit: EA

One important detail within the announcement of EA’s leveraged buyout is that it’s pending regulatory approval, which some experts believe won’t be much of a hurdle due to US president Donald Trump’s son-in-law’s involvement with Affinity Partners. When asked whether a deal like this has any chance of being stopped by US regulators, Shea had little hope due to the current political climate in the region and America’s strategic partners there, Saudi Arabia included.

“I don’t see it coming under scrutiny. I think there was a moment in 2023 before October 7th, when there was some political will from some senators in the US to scrutinise Saudi investments through the PIF in the USA. There was some hope that these investments would come under greater scrutiny rather than just for national security impacts – that’s basically the only standard to which foreign investments will be scrutinised, mostly foreign investments from China.”

“We had hoped this could be broadened to include human rights concerns, but at this point, globally, I don’t personally have that much hope.”

Eurogamer contacted EA for comment on matters regarding the private buyout from Affinity Partners, Silver Lake, and Saudi Arabia’s Public Investment Fund.



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Crypto Trends

Public Keys: Robinhood Takes Flight, GM to Walmart, and Never Not Trading

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In brief

  • Robinhood stock surges nearly 47% in a month, approaching $150 as it explores expanding prediction markets to the U.K.
  • Walmart’s OnePay payment app adds Bitcoin and Ethereum trading for its 3+ million monthly users.
  • CME Group plans 24/7 trading for crypto futures and options starting early 2026 in response to record volumes.

Public Keys is a weekly roundup from Decrypt that tracks the key publicly traded crypto companies. In this week’s roundup, we’ve got the latest on CME, Walmart’s crypto play (for real this time), and Robinhood flying high:

All-time highs for HOOD

Stock and crypto trading app Robinhood saw a new all-time high this week on reports that it’ll extend its prediction market offerings outside of the United States.

Reports surfaced this week that the company has been speaking with the U.K.’s Financial Conduct authority about expanding there, but the company didn’t immediately respond to confirm or deny the news.

There have been projections that the prediction market space could eventually account for more than $82 billion, according to Grand View Research.



But things move fast. At the start of the week, a new all-time high for Robinhood meant the company’s shares had breached $140. But the gains have kept rolling in. Robinhood’s stock is now closing in on $150 with more than an hour left before the closing bell on Friday.

The company, which trades under the HOOD ticker on the Nasdaq, has gained 21.69% in the past five days and nearly 47% in the past month.

The latest news from CEO Vlad Tenev is that Strategy preferred stock offerings, like Stretch (STRC) and Strike (STRK), are now available on its platform.

“We’ve heard from many Strategy investors that this was an important factor before moving their accounts to Robinhood, and we’re excited to unlock this for them,” Tenev said on X.

Meanwhile, Strategy had its own bullish news this week, but hasn’t gotten anywhere near its all-time high of $473.83. The company had been bracing for a hefty 15% tax bill on the unrealized gains of its hulking Bitcoin treasury. But now, the company thinks it has dodged that bullet.

Big box embrace

Walmart’s Apple and Google Pay contender, OnePay, has added crypto trading and custody to its mobile app.

The news, first told to CNBC by unnamed sources, will bring BTC and ETH trading to the platform’s more than 3 million monthly active users. But Walmart has been aggressive about trying to funnel more users into the app.

The retailer doesn’t allow Apple or Google Pay in its brick and mortar stores—just OnePay and WalmartPay, a feature of its own app.

Don’t worry, so far this hasn’t gone the way of the Litecoin news that got debunked in 2021.

It shouldn’t come as a surprise that the Walmart-owned firm is opening its app to crypto. Parent company Walmart has signaled it’s interested in trying out a stablecoin.

Another all nighter

CME said it’s looking to move to “24/7” trading for its crypto futures and options—right now Bitcoin and Ethereum. But Solana and XRP options will soon join them.

The change would take place in early 2026.

CME framed the move as a response to record 2025 volumes and client demand. Right now crypto assets can be traded all the time. And there are plenty of crypto derivatives exchanges—Deribit being the largest—that offer the same always-on hours.

But CME said clients have said they want around-the-clock risk management on a regulated venue.

CME said it’s officially planning to make the move—but it all depends on regulatory review. There’s already been signs that regulators are on board with allowing certain assets to be tradeable all the time.

In fact, the SEC and CFTC said as much a month ago—but that was about making securities tradeable all the time.

In the 154 years since continuous trading debuted on Wall Street, such markets have always followed a strict schedule, which since 1985 has kept markets open only during certain business hours on weekdays.

Other Keys

In a Galaxy not far away… Samsung is integrating Coinbase access within its wallet app for U.S. users, which means crypto holdings could now be used through Samsung Wallet and Samsung Pay. That’s 75 million Samsung device users who now have easier access to crypto.

Call it a comeBAKKT Securities research firm Benchmark has more than tripled its price target for Bakkt Holdings. The company has been many things over the years—including almost broke. But now analysts are keen on the addition of crypto industry investor Mike Alfred to its board.

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Disney Is Getting Sued Over Just How Much Mickey Mouse Counts as Public Domain
Product Reviews

Disney Is Getting Sued Over Just How Much Mickey Mouse Counts as Public Domain

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Last year, Mickey Mouse’s appearance in Steamboat Willie became public domain, ushering in tons of horror parodies of Disney’s iconic mascot. The Walt Disney Company gave films such as the David Howard Thornton-starring Screamboat a pass, but apparently, it thinks there’s a limit on just how much other companies can get away with using Mickey’s iconic nautical depiction.

Disney has found itself in lawsuits after enforcing its intellectual property rights to its characters in Steamboat Willie against two companies seeking to utilize Mickey for marketing and retail purposes. According to the Hollywood Reporter, Morgan & Morgan, a U.S.-based personal injury law firm, attempted to use Steamboat Willie in a commercial, which Disney met with resistance. THR further reports that a jewelry company, Satéur, attempted to pass off merch with Steamboat Willie as official—which is where the legality gets all murky in Disney’s eyes.

Disney stands firm that despite the short being public domain, that doesn’t mean competitors can infringe on trademarks that protect its brands, which it maintains include various representations of Mickey Mouse, as the character has been iterated on for almost a century since Steamboat Willie‘s release. The lawsuit states that Disney has a history of “aggressive enforcement of intellectual property rights,” exemplified in the company’s “refusal to disclaim an intent to engage in enforcement against” Morgan & Morgan and Satéur.

Kelly Klaus, a lawyer for the complaint, was quoted in the complaint as clarifying that these companies, Satéur in particular, “infringe Disney’s continuing rights over its trademarks that identify Disney as the source of goods and services and to profit off the goodwill that Disney has built with the public over decades,” and “As Disney has stated publicly, while copyright expired on the Steamboat Willie motion picture, Mickey Mouse will continue to play a leading role as a global ambassador for Disney.”

Morgan & Morgan used the Steamboat versions of Mickey and Minnie Mouse in an advert that sees Mickey crash a steamboat into Minnie’s car, prompting her to call the injury firm, and at the very least discloses that the video is not associated or endorsed by Disney. Its use along with horror movies using the character in parody is one thing, but it’s another when companies attempt to pass off the character as endorsing their goods and services. Satéur, on the other hand, seems to fall into the latter category, as the THR story reports that multiple complaints by consumers have been filed to the Better Business Bureau for the shoddy accessories they were misled into buying, thinking they were official Disney products.

Want more io9 news? Check out when to expect the latest Marvel, Star Wars, and Star Trek releases, what’s next for the DC Universe on film and TV, and everything you need to know about the future of Doctor Who.



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Silksong's latest public update fixes its worst boss, but not as much as you're likely hoping
Game Updates

Silksong’s latest public update fixes its worst boss, but not as much as you’re likely hoping

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Hollow Knight: Silksong’s hitherto beta-only update 1.0.28650 is now a fully public release that any dang fool can download without switching to a Steam playtest branch. I’m still noodling my way through the lower levels of Team Cherry’s new metroidvania, blissfully unbothered by any pressure to review it or write Silksong walkthroughs. As such, I asked our reviewer James to have a look at the patch notes and pluck out any important changes, based on his many, many hours in Pharloom.


A shadow glided over James’s face, then returned and took up residence in one earhole. Wordlessly he outstretched a gnarled finger towards item 3 on the list: “Fixed Savage Beastfly in Far Fields sometimes remaining below the lava.”


Thus my introduction to the Savage Beastfly, an optional Silksong boss that has two iterations. I’ve now done some background reading on Savage Beastfly and – inasmuch as it’s safe to extrapolate from all-caps forum posts – it appears to be Silksong’s most-hated NPC. Not simply a challenging fight but a crushingly unfair and unpredictable one, in the eyes of many players, with complaints lodged against the inconsistency of the creature’s hitbox, its two-mask damage output, its habit of summoning minions, and the whiteknuckle RNG effect of mixing all these things together.

It doesn’t even look that good, the detractors howl. It’s not like Malenia in Elden Ring. It’s just a mallet with wings. Nobody wants to Rule 34 that thing. Well, some people probably do, because that’s the point of Rule 34, but this particular intersection of masochism and formicophilia seems like a rare gift, indeed.


And all of this merely describes the first iteration of the boss. The second introduces lava and destructible platforms, just for funsies. As such, the now-fixed technical issue above with the Savage Beastfly diving into lava and never returning could be styled a positive. Let the bastard stay in the magma, if it loves magma so much. Let it burn forever in a hell of its own creation.


The loathing is so extreme that there is a whole subreddit dedicated to Savage Beastfly and all its works, with 34,000 weekly visitors. Be warned that the subreddit contains a lot of fake reporting about undiscovered, even tougher Savage Beastfly variants, because if there’s one thing Silksong players like doing, it’s rustling each other’s jimmies.


While the Savage Beastfly does appear to savagely beastfly in the face of sporting boss design, I do inevitably wonder whether a piss-boiling abomination like this is a marketing asset for a game such as Silksong. Bosses that are merely ‘good’ and ‘well-designed’ don’t tend to attract dedicated subreddits. Malenia doesn’t have one, as far as I can tell. Nor do Giygas, Psycho Mantis or Sephiroth. I’m surprised I haven’t seen Savage Beastfly cited more in the on-going discussion of whether Silksong’s overall difficulty is key to the mood, or just contrived.


Anyway, the full patch notes are below. They are essentially unchanged from the beta test last week.

  • Added Dithering effect option in Advanced video settings. Reduces colour banding but can slightly soften the appearance of foreground assets. Defaults to ‘Off’.
  • Updated Herald’s Wish achievement description to clarify that players must both complete the wish and finish the game.
  • Fixed Savage Beastfly in Far Fields sometimes remaining below the lava.
  • Fixed rare cases of Shrine Guardian Seth getting out of bounds during battle.
  • Fixed rare case of Second Sentinel knocking the player out of bounds during battle.
  • Added catch to prevent Lugoli sometimes flying off screen and not returning during battle.
  • Further reduced chance of Silk Snippers getting stuck out of bounds in Chapel of the Reaper battle.
  • Fixed various instances of dying to bosses while killing them causing death sequences to play messily or out of sync.
  • Fixed Shaman Binding into a bottom transition causing a softlock.
  • Cocoon positions in some locations updated to prevent it spawning in inaccessible areas.
  • Fixed Liquid Lacquer courier delivery not being accessible in Steel Soul mode.
  • Fixed some NPCs not correctly playing cursed hint dialogues in certain instances.
  • Fixed Pondcatcher Reed not being able to fly away after singing.
  • Fixed Verdania memory orbs sometimes replaying layered screen-edge burst effects.
  • Fixed the break counter not working for certain multihitter tools eg Conchcutter.
  • Fixed Volt Filament damage multiplier not applying for certain Silk Skills.
  • Fixed Cogflies and Wisps inappropriately targeting Skullwings.
  • Fixed Cogflies incorrectly resetting their HP to full on scene change.
  • Fixed Curveclaw always breaking on the first hit after being deflected.
  • Fixed Plasmium Phial and Flea Brew sometimes not restoring as intended at benches.
  • Various other smaller tweaks and fixes.



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GENIUS Act
NFT Gaming

US Treasury Seeks Public Comment On Implementation Of GENIUS Act – Details

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

The United States Treasury Department has opened a request for public comment on the implementation of the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act. The GENIUS Act, signed into US law in July, was designed to provide a regulatory framework for stablecoin issuers.

This latest call for public input comes exactly a month after the Request for Comment on Innovative Methods to Detect Illicit Activity linked to payment stablecoins. At the time, the US Treasury was interested in gathering feedback on different technologies to identify and combat the risks associated with these dollar-backed digital assets.

Call For Public Comment On Stablecoin Act To Close In 30 Days

On Thursday, September 18, the US Department of the Treasury issued an Advance Notice of Proposed Rulemaking (ANPRM), calling on the public for comments on the implementation of the GENIUS Act. This request will allow a wide range of stakeholders to contribute, by offering data and other information, to the implementation of this law.

The press release read: 

The GENIUS Act tasks the Treasury with issuing regulations that encourage innovation in payment stablecoins while also providing an appropriately tailored regime to protect consumers, mitigate potential illicit finance risks, and address financial stability risks.

This notice asked for comments and views on a plethora of questions, including whether extra clarity is needed on the amount of reserve assets required to be held in custody. “Are there foreign payment stablecoin regulatory or supervisory regimes, or regimes in development, that may be comparable to the regime established under the GENIUS Act?” another question posed.

Some of the other questions asked in this notice include marketing restrictions, balancing state-level and federal oversight, and the application of Bank Secrecy Act (BSA), anti-money laundering regulations, and sanctions obligations. The Treasury Department noted that the public should submit their comments in response to the ANPRM within 30 days of publication in the Federal Register.

Crypto Market Structure Bill To Undergo Vote In September 

Indeed, signing the GENIUS Act into law represented a major breakthrough in regulating the crypto landscape in the United States. In its next move, the US Senate is looking to hold a vote on the crypto market structure bill, titled the Responsible Financial Innovation Act 2025, before the end of September.

The digital market structure bill is aimed at clarifying the roles of various financial agencies in the oversight and enforcement of crypto regulations. In an updated version, the Senate Banking Committee addressed the issue of blockchain developers being treated as financial institutions and non-fungible tokens (NFTs) being treated as securities.

The total crypto market cap on the daily timeframe | Source: TOTAL Chart on TradingView

Featured image from iStock, chart from TradingView

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



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NFT Gaming

Public Keys: Alt Autumn Arrives, Kindly Investors Leave Bitcoin Stock, and Here Comes the SOL

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In brief

  • Rex-Osprey launched XRP and DOGE ETFs, and the SEC debuted streamlined listing standards for commodity-based trust shares.
  • Forward Industries became Solana’s first $1 billion treasury company, with Helius planning a $500 million SOL treasury raise
  • KindlyMD shares dropped 54% after filing S-3 registration, releasing $200 million in discounted shares that created sell pressure

Public Keys is a weekly roundup from Decrypt that tracks the key publicly traded crypto companies.

Alt Autumn loading

The U.S. Securities and Exchange Commission press release didn’t actually mention altcoins, but crypto ETF hopefuls haven’t wasted time rushing their funds toward the starting line.

The regulator has streamlined generic listing standards for commodity-based trust shares, meaning that as long as applicants meet the listing standards of the Nasdaq, Cboe BZX, and NYSE Arca exchanges, they can opt out of applying for a rule change for individual funds like every other crypto ETF issuer so far.

The rule change didn’t have unanimous support, though. Commissioner Caroline Crenshaw said in a statement Wednesday that the new rule amounts to “passing the buck on reviewing these proposals and making the required investor protection findings, in favor of fast tracking these new and arguably unproven products to market.”



Rex-Osprey was first out of the gate with its Rex-Osprey XRP ETF and Rex-Osprey DOGE ETF. The company is also working to bring a leveraged option to market, the Rex-Osprey DOJE Growth & Income ETF, for traders who want big risks and big rewards.

It’s still early, as the filing doesn’t yet mention a fee. But the objective is to pay weekly distributions by selling calls, while targeting 1.05 to 1.5 times the daily move of its newly trading DOJE Dogecoin ETF—resetting exposure every day. It’s a product for short-term traders, not buy-and-hold investors.

Dogecoin jumped as high as $0.28 earlier this week on the bullish news, but the gains haven’t been long lasting. At the time of writing, DOGE was down over 5% to $0.26.

Kindly leave

KindlyMD CEO David Bailey did a pre-flight check on Monday, pointing out the exits to investors who weren’t comfortable with some near-term volatility. The company’s shares dropped 54% to $1.26 that day. And after the closing bell on Friday, the price hasn’t improved much.

The company’s shares—which trade on the NasdaqGM under the NAKA ticker symbol—finished the day trading for $1.40, after having lost 6% in the past day and down 87% over the last month.

The company became a Bitcoin treasury company when it merged with Nakamoto Holdings, Bailey’s BTC holding company, earlier this year. The newly formed firm jumpstarted its Bitcoin treasury vision with a $200 million PIPE deal. But the discounted shares that were sold during that round were essentially locked until the company filed its S-3 registration with the SEC.

Once the registration was filed and deemed effective, there was $200 million worth of discounted shares creating sell pressure.

Bailey, ever the optimist, found a silver lining.

“I will say one of the unintended consequences of the stock being down is [that] everyone can buy in relatively cheap and ride with us,” he wrote on X. “The past week we’ve put up serious volume and one or two more days like yesterday and we’ll have churned and reset the cap table. Then we’ll have our convicted and aligned shareholder base.”

Grayscale has also listed its Digital Large Cap Fund after playing red light, green light with the SEC for months. The fund, which trades under the GDLC ticker, tracks a basket of assets that contains XRP, Solana, Cardano, Bitcoin, and Ethereum.

Treasured SOL

Solana got its first $1 billion treasury company, but that was just the beginning of bullish news for SOL digital asset treasuries.

The same day Forward Industries crossed the $1 billion mark, Helius announced plans to raise $500 million to build its own Solana treasury.

Two days later, Forward Industries debuted an at-the-market offering to raise another $4 billion in cash to buy more SOL. If it does raise the cash and spend the bulk of it buying Solana tokens, that could more than double the $3.1 billion worth of SOL already sitting with publicly traded companies.

Then, on Thursday, former chief legal officer at Kraken, Marco Santori, was named CEO at newly renamed Solana treasury Solmate. The company made its debut as a digital asset treasury by announcing a $300 million raise, and saw its stock soar 500%.

The news has been bullish for SOL, but not enough to save it from the malaise that’s hit the rest of the crypto market. At the time of writing, Solana was lagging 4% behind its price on Thursday and changing hands for about $238.

Other Keys

BitLicense boost: Newly IPO’d Bullish saw its shares jump on news that it’s been granted a BitLicense by the New York State Department of Financial Services. That means it’s now approved to operate in the state as a digital asset trading and custody business, and BitLicense aims to expand its broader U.S. presence as a result.

Itty, bitty buy: Strategy added $60 million worth of Bitcoin to its BTC treasury this week, the smallest buy it’s announced in a month. Although the company has raised around $68.2 million through its various preferred stock offerings, the company only spent $60.2 million on Bitcoin, leaving it with around $8 million in extra cash.

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The Ether Machine
NFT Gaming

Ethereum Giant The Ether Machine Aims for US Public Debut

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The Ether Machine, an Ethereum treasury firm, has confidentially submitted a draft registration statement on Form S-4 with the US Securities and Exchange Commission as part of a planned merger with blank-check firm Dynamix Corporation.

Reports have disclosed the move as the next step in bringing the company’s large ether holdings onto public markets.

Draft Filing Ties To Dynamix Merger

According to filings and company posts, the S-4 is linked to a business combination between The Ether Machine and Dynamix that was first announced in July.

The merged entity would trade under the ticker ETHM when the deal closes, which market watchers expect to occur in Q4 2025 if shareholders and regulators approve the transaction.

Image: The Ether Machine

The company said it has engaged a Big Four auditor to bolster its financial reporting as it prepares for public scrutiny.

As of today, we have confidentially filed our S-4 with the SEC. We’re shifting into the next gear, and officially on its path to full public form 🔥

“The submission of our Form S-4 is a critical step towards becoming a publicly traded Ethereum company. We have also retained…

— The Ether Machine (@TheEtherMachine) September 16, 2025

The Firm’s Ether Hoard And Recent Financing

Based on reports, The Ether Machine now holds roughly 495,362 ETH, a stash valued at about $2.16 billion at recent prices, and has set aside roughly $367 million in cash to buy more ether.

The company also recently secured a $654 million commitment in a private financing round tied to a 150,000 ETH in-kind investment, a deal that brought a new board member to the firm.

ETHUSD now trading at $4,492. Chart: TradingView

Those moves have helped push the company’s balance sheet toward what backers call institutional-grade exposure to ether.

Funding Push And Big Investors

Reports have identified major crypto names among the backers. Investors such as Blockchain.com, Kraken and Pantera Capital participated in earlier financing, and organizers expect to raise more than $1.6 billion in the Nasdaq listing effort.

The Ether Machine is also lining up additional capital, with Citibank said to be leading a third fundraising round that may target at least $500 million. Those inputs matter because they will shape how much ether the public company starts its life with on the books.

Market Reaction

Market response to the deal was swift when it was first revealed: Dynamix stock jumped sharply in premarket trading after the merger was announced.

If the combination completes, The Ether Machine would become one of the largest publicly visible holders of ether, offering investors a way to gain regulated equity exposure to the token rather than buying it directly.

Featured image from Unsplash, chart from TradingView

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GameFi Guides

Winklevoss Twins Call for $1 Million Bitcoin Price as Gemini Goes Public

by admin



In brief

  • Crypto entrepreneurs Cameron and Tyler Winklevoss think Bitcoin is still in its early stages.
  • Tyler Winklevoss said during a CNBC interview that in 10 years, the leading cryptocurrency will be priced at $1 million per coin.
  • Gemini, the brothers’ crypto exchange, went public on the Nasdaq on Friday.

Crypto entrepreneurs Tyler and Cameron Winklevoss—the founders of the newly public crypto exchange, Gemini—have predicted that Bitcoin will hit a price of $1 million per coin as it “disrupts gold.”

Speaking on CNBC on Friday, Tyler Winklevoss said that the price of the leading cryptocurrency had come a long way since they debuted their crypto exchange more than a decade ago.

He noted that the two spoke on CNBC back in 2015, when the digital coin was trading for $350 per coin. Now it’s trading above $116,000.

“We think there’s easily a 10x from here,” he said. “It’s still really early, and I think we’ll be sitting here 10 years from now looking back and saying, ‘Wow, today was really early.'” 

“It’s still very much the bottom of the first inning, because we see Bitcoin trading at $1 million dollars a Bitcoin, if it disrupts gold,” he added. “And we think Bitcoin is gold 2.0.”

Camron and Tyler Winklevoss—arguably best known for their role in the creation of Facebook—founded crypto exchange Gemini in 2014 after being early Bitcoin backers.



Gemini launched its IPO on Friday, pricing the offering at $28 per share. Shares began trading on the Nasdaq Global Select Market under the ticker GEMI on Friday afternoon, with shares trading at $37.01 upon opening, giving the firm a roughly $4.4 billion valuation. As of this writing, the price has dipped to about $34.

New York-based Gemini allows users to buy, sell, and bet on the future price of digital coins and tokens. It also custodies crypto. 

Cameron Winklevoss added in Friday’s interview that he believes Bitcoin will serve more as a store-of-value than a payments system. Other prominent backers like Jack Dorsey, co-founder of Block and Twitter, disagree on that front.

“We don’t think it actually has to be a transactional currency—just like you’re not trying to buy a cup of coffee with gold,” he said. 

The Winklevoss Twins aren’t the only crypto heavyweights to have made big predictions for the future price of Bitcoin as of late. Fundstrat Global Advisors Managing Partner Tom Lee also this week said that Bitcoin can hit $200,000 by the end of this year. 

While BitMex co-founder and billionaire Arthur Hayes has claimed $250,000 for the biggest cryptocurrency is a realistic target in 2025.

Bitcoin was recently trading for $116,507 per coin, according to CoinGecko, up 2% over a 24-hour period. Over the past seven days, the flagship cryptocurrency has risen by more than 5%. Bitcoin sits about 6% below its August all-time high mark of $124,128.

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