Crypto World
Bybit Pay integrates Mesh for direct crypto payments
Bybit Pay has integrated with Mesh’s network of more than 300 wallets, exchanges and financial platforms, giving Bybit’s claimed 80 million users a direct way to spend or transfer assets held in their exchange accounts.
Summary
- Bybit users can pay or fund supported accounts without withdrawing assets first.
- Mesh-connected businesses can add Bybit Pay through their existing integration.
- Merchants can choose when and how funds settle across supported markets.
- Mesh raised $75 million at a $1 billion valuation in January.
Bybit Pay removes a step from crypto payments
Bybit said in a Sept. 3 announcement that users can now access their exchange balances when checking out or adding funds on platforms powered by Mesh.
When Bybit Pay appears among the available payment methods, a customer can select it and use assets already held in a Bybit account. The process removes the need to withdraw funds to a separate wallet, convert them manually, or transfer them to another service before completing a transaction.
For businesses, the integration adds another payment source without requiring a separate connection to Bybit. Companies that already use Mesh can enable Bybit Pay through the same technical setup, allowing them to accept payments from eligible Bybit users.
Bybit described its customer base of 80 million as a potential market for participating merchants. The figure comes from the company and was not independently verified in the announcement.
Settlement settings form another part of the service. According to Bybit, Mesh’s programmable tools let businesses set how and when funds are settled in different markets. The announcement did not list the supported cryptocurrencies, settlement currencies, transaction fees, or geographic restrictions attached to the new option.
“People shouldn’t have to move their money to use it,” Mesh co-founder and CEO Bam Azizi said. “We bring the network to where the money already is.”
Sophie Chen, head of marketing at Bybit Card and Pay, said customers can use an asset held in their account while the receiving platform obtains its preferred asset. Such conversion and settlement functions can reduce the number of manual steps required when the payer and recipient want different currencies.
Bybit Pay is available to Mesh-connected businesses from Sept. 3, according to the exchange. Merchants must still choose to activate it before their customers can use the option.
Mesh connects more than 300 financial platforms
Mesh operates an infrastructure layer connecting wallets, crypto exchanges, and financial applications. Rather than requiring users to copy wallet addresses and arrange separate transfers, participating services can place supported accounts and payment choices inside their own interfaces.
The network covers more than 300 platforms, according to Mesh. Its tools support digital asset transfers, account connections, and payment settlement between participating services, although access to individual functions depends on the platform, asset, and market involved.
A similar model was used when CoinDCX added Mesh transfers in April 2024. The connection allowed CoinDCX customers to move assets from linked accounts without copying long wallet addresses, while transfers were initiated through an in-app menu.
PayPal Ventures had also invested $5 million in Mesh using the PYUSD stablecoin in January 2024. At the time, Mesh was developing services for payments, account aggregation, and trading across hundreds of connected platforms.
The company has since moved further into payment settlement. Merchants may receive a chosen stablecoin or fiat currency even when a customer pays with a different supported asset, depending on the configuration available through the service. Such arrangements place asset conversion behind the payment screen instead of requiring the customer to complete each step separately.
In May, Mesh also entered another public-sector use case when Bermuda adopted Stellar rails for government payments. The program coincided with an integration between Stellar and Mesh, which connected participating wallets and services to stablecoin settlement on the network.
Mesh funding has put payment infrastructure in focus
Mesh raised $75 million in a Series C funding round in January, bringing its total financing above $200 million and valuing the company at $1 billion.
Dragonfly Capital led the round, with Paradigm, Moderne Ventures, Coinbase Ventures, SBI Investment, and Liberty City Ventures also participating. The company said it would use the financing to extend its operations across Latin America, Asia, and Europe.
As crypto.news reported in January, Mesh led a week in which 14 crypto projects disclosed a combined $243.9 million in financing. The company was formerly known as Front Finance and had raised about $205 million in total at that point.
Investor interest continued in July, when Axios reported that Binance planned to lead another Mesh round at a valuation of as much as $2 billion. Neither company had formally announced or completed the reported deal when the funding talks emerged.
A transaction at the reported valuation would double the company’s January figure. The talks also included a direct connection to the exchange market because Binance, like Bybit, holds customer assets that could be used through payment tools if the relevant services are linked.
Mesh’s existing investors already include Coinbase Ventures and PayPal Ventures, giving the company financial ties to both crypto exchanges and a major payments group. Its latest integration adds Bybit’s customer accounts as another funding source across participating merchant and financial platforms.
U.S. users face separate tax and access questions
Bybit’s announcement described the Mesh connection as a global integration but did not state whether Bybit Pay would become available to customers in the United States. Access will depend on Bybit’s regional services, the location of each merchant, and the assets supported for a particular transaction.
For Americans who can access a supported crypto payment service, spending digital assets can carry a federal tax obligation even when the payment takes place directly from an exchange balance.
The Internal Revenue Service treats digital assets as property rather than currency for U.S. tax purposes. Its guidance says exchanging crypto for goods or services counts as a disposal, requiring the user to calculate any capital gain or loss from the asset’s cost basis and fair market value at the time of payment.
The IRS also requires taxpayers to report digital asset transactions even when they do not produce a taxable gain. Records should include the asset, transaction time, number of units, dollar value, and cost basis, according to the agency.
Broker reporting rules add another consideration. The IRS says certain custodial trading platforms, hosted wallet providers, and processors of digital asset payments fall within final reporting regulations. Gross-proceeds reporting began for covered transactions completed from Jan. 1, 2025, while basis reporting for certain transactions started on Jan. 1, 2026.
Term Labs has recovered all fixed-rate loan positions held in vaults affected by its August governance exploit, with the final position moved on Aug. 25 as Meta Vaults and affected strategies remain shut down.
Summary
- Term Labs recovered all affected fixed-rate loan positions by Aug. 25, while its Meta Vaults and affected strategies remain shut down.
- Attackers used malicious governance proposals to remove execution delays before draining liquid ETH and USDC from vault strategies.
- A counterfeit repo token was priced against each strategy’s exact liquid USDC balance, allowing the attacker to sweep the available funds.
- Term Labs said its V1 and V2 contracts were not compromised, and its direct borrowing and lending markets remained operational.
Term Labs said in its latest incident report that the last fixed-rate position was recovered at 14:52 UTC on Aug. 25, while its investigation found that the attack was confined to liquid balances held inside Term vaults.
The protocol said its V1 and V2 contracts were not compromised and its direct borrowing and lending markets continued operating throughout the incident.
Term Labs says lending contracts escaped the vault exploit
The new technical account gives a more detailed picture of the Aug. 23 attack, which security firms previously estimated had drained roughly $8.5 million from Term Finance vaults.
Term Labs had initially disclosed a governance exploit affecting vaults without providing the full attack sequence. Security firms CertiK and PeckShield estimated losses near $8.5 million, including roughly 2,843 ETH and 1.68 million USDC. PeckShield said the USDC was subsequently exchanged for approximately 1.68 million DAI.
The protocol later shut down its Meta Vaults and revoked their DAO governance roles. New deposits were permanently disabled while withdrawals remained available. Yearn said at the time that the affected contracts used Yearn V3 infrastructure but that the attack involved a governance wrapper developed for Term rather than standard Yearn V3 vaults.
Term Labs now says its underlying fixed-rate lending system remained outside the attacker’s reach. Supply, repayment and liquidation functions continued operating without interruption in its direct lending markets.
The attack instead developed through two operator wallets funded through Tornado Cash and a series of governance proposals that altered controls around Term’s vault strategies.
The first operator received funds through Tornado Cash on Aug. 17. Around 24 minutes later, the wallet submitted an ETH proposal titled “Vote YES to VETO the curator’s proposed vault parameter changes.”
Among the changes included in the proposal was a reduction of the affected stack’s governance Delay to zero. Term Labs said the change removed an additional seven-day and one-hour period during which liquidity providers could have stopped the proposal before execution.
Attackers prepared separate ETH and USDC campaigns
A second operator wallet received Tornado Cash funding on Aug. 18 before deploying a singleton contract later that afternoon.
According to Term Labs, the contract combined three functions in one deployment: a controller, a price adapter and a counterfeit repo token. A helper contract was then initialized using the singleton.
Three days later, on Aug. 21, the helper submitted seven governance proposals and cast the only votes on them.
Two proposals targeted ETH strategy DAOs but were never executed. The other five became part of the USDC attack.
Each of the five proposals reduced the relevant governance Delay to zero, removing an additional three-day and one-hour period in which LPs could otherwise have intervened before execution.
Earlier analysis of the incident found that the attacker had obtained governance influence at very little cost. A review of the governance takeover found that roughly $951 was spent acquiring enough governance tokens to control votes tied to vaults holding millions of dollars in deposits.
The transactions did not require the attacker to compromise Term’s core fixed-rate lending contracts. Governance contracts instead executed instructions that had passed through the proposal and voting process.
A similar attack path was used against StrongBlock earlier in August, when an attacker took over its governance system and drained around $72,000 in STRONG and STRNGR tokens. The attacker gained enough voting power to pass a proposal that ultimately provided administrative control over the project’s Governor contract.
ETH was routed through a fixed-recipient strategy
The first successful Term proposal executed at 06:25 UTC on Aug. 23.
Four active ETH strategies, Shorewoods, August Digital, Parity Prime and Parity Core, were recalled into the Meta Vault using update_debt() and directed into a newly added strategy named frWETH-EXIT.
Term Labs said the strategy had been named “Fixed Recipient WETH Exit Strategy.”
Once the WETH entered the new strategy, frWETH-EXIT forwarded the entire amount to the first operator during the same call.
The transaction left the Meta Vault holding 2,841.74 shares in a strategy containing none of the WETH that had been transferred into it.
That figure closely corresponds with the roughly 2,843 ETH that PeckShield traced from Term Finance during its initial analysis of the incident.
Twenty-two minutes after the ETH transaction, the second campaign executed against five USDC strategy DAOs.
Parity Prime, Parity Core, Parity HY, Parity HY v2 and RockawayX Tori were targeted at 06:47 UTC.
Term Labs said each proposal caused its DAO to sell one unit of a counterfeit repo token into the associated strategy at a value equal to the strategy’s entire liquid USDC balance.
The attacker was able to execute the sale after the proposals installed a contract called fmTERT.
Term Labs said fmTERT impersonated both the controller used to determine whether a token was a legitimate Term instrument and the price adapter responsible for determining how much the instrument was worth.
The proposals set each strategy’s reserve ratio to zero and increased its concentration limit to the maximum permitted value, preventing those controls from limiting the fake token transaction.
The counterfeit token was then priced using a dynamic redemptionValue() function.
At execution, the function returned the precise amount of liquid USDC available in the strategy, allowing a single unit of the fake repo token to be sold for virtually the strategy’s entire available balance.
After the sale, the proposals approved the USDC proceeds and swept them from each DAO into the second operator’s wallet.
Fixed-rate positions were moved before they could redeem
Term Labs said the fixed-rate loans held by affected vaults could not be reached through the attack itself.
A separate problem would have emerged when those positions matured because their proceeds were scheduled to redeem into the same vaults that had been captured during the governance attack.
The protocol responded by upgrading affected contracts and moving the fixed-rate positions before maturity.
All affected fixed-rate loan positions have since been recovered, with the final position moved at 14:52 UTC on Aug. 25.
The incident illustrates the role that execution delays can play in governance security. Days before the Term Finance attack, Binance said it had stopped a malicious DAO proposal that threatened roughly $1.2 million belonging to an unnamed project. Less than 48 hours remained before that proposal could execute when the exchange contacted the project, which ultimately rejected it without a reported loss.
In Term’s case, the malicious proposals themselves removed additional delay periods before the assets were taken. The ETH proposal eliminated a seven-day and one-hour window, while the five USDC proposals removed three-day and one-hour periods from their respective governance stacks.
Term Labs said its Meta Vaults and affected strategies remain shut down, while shutdown work involving the remaining low-activity vaults is still underway.
The protocol is working with law enforcement agencies and cybersecurity firms to identify those responsible for the attack and said it has provided relevant information to assist the investigations.
XRP generated more questions than any other cryptocurrency during a Bitwise presentation to approximately 400 wealth managers, research analyst Ryan Rasmussen said on Sept. 2.
Summary
- About 400 wealth managers attended Bitwise’s presentation, where XRP generated the most audience questions overall.
- 67% of surveyed participants said they did not currently allocate client portfolios to cryptocurrency investments.
- 60% expected crypto prices to rise by year-end, according to Bitwise analyst Ryan Rasmussen’s poll.
- Another 60% said they planned cryptocurrency allocations within one year, although intentions may change materially.
- U.S. spot XRP funds ended eleven inflow sessions with approximately $7.2 million leaving September 2.
Rasmussen and Bitwise chief investment officer Matt Hougan discussed Bitcoin, Solana, Hyperliquid, stablecoins and tokenization during the event. When asked about XRP afterward, Rasmussen said it was “the most asked about throughout the presentation,” adding that there was “a lot of interest.”
The statement provides evidence of attention among attendees at one Bitwise event. It does not establish that XRP is the most popular cryptocurrency among wealth managers generally, nor does it show that participants intend to invest specifically in XRP.
XRP interest contrasts with limited crypto allocations
Rasmussen’s audience poll found that 67% of participants did not currently allocate to cryptocurrency. The wording did not specify whether the question concerned personal investments, client portfolios or firm-wide allocations.
Another 60% said they expected cryptocurrency prices to be higher by the end of 2026. The same share said they planned to allocate to the asset class within the next year.
Those responses reflect expectations and stated intentions rather than completed investment decisions. Market conditions, compliance policies and client risk limits could affect whether the planned allocations occur.
Bitwise did not publish the participants’ firms, assets under management, geographic distribution or sampling method. The results should therefore be treated as an informal event poll rather than a representative survey of the wealth-management industry.
XRP ETF flows provide a regulated access route
U.S. spot XRP exchange-traded funds recorded 11 consecutive trading sessions of net inflows through Sept. 1, attracting approximately $170 million during the period, according to SoSoValue data.
The products had accumulated roughly $1.68 billion in net inflows since launching in November 2025. However, the streak ended on Sept. 2, when the funds recorded approximately $7.2 million in combined net outflows.
One negative session does not establish a longer-term reversal. Daily ETF flows can change because of portfolio rebalancing, short-term trading and broader market conditions.
Crypto.news previously reported that XRP’s recovery increasingly depended on sustained ETF inflows and regulatory progress. At the time, cumulative inflows had already exceeded the threshold used in one external bullish forecast, although the pace of new investment remained uneven.
Institutional filings show exposure, not investor intent
Goldman Sachs was the largest disclosed institutional holder of U.S. spot XRP ETFs at the end of the second quarter, according to Bloomberg Intelligence data compiled from Form 13F filings.
The bank disclosed approximately $87.4 million in XRP ETF exposure. Jane Street followed with about $16.6 million, while Millennium Management reported roughly $16.2 million.
Form 13F filings provide quarterly snapshots of certain securities held by large investment managers. They do not explain whether positions are proprietary investments, client holdings, hedges or inventory supporting market-making operations.
The filings are also backward-looking. Second-quarter reports show positions as of June 30 and do not reveal changes made afterward. They support the conclusion that regulated XRP products have attracted professional market participants, but they do not prove a directional view on XRP.
Wealth managers still face allocation barriers
Wealth managers considering cryptocurrency exposure must assess volatility, custody, liquidity, suitability and regulatory requirements. Approval processes can also differ between independent advisers, broker-dealers and larger financial institutions.
Spot ETFs remove the need to manage wallets or private keys directly. They nevertheless retain exposure to movements in the underlying cryptocurrency and can experience substantial price declines.
Interest in XRP may reflect several developments, including ETF availability, Ripple’s institutional expansion and activity across the XRP Ledger. In related coverage, crypto.news reported that Ripple’s regulated financial businesses continued expanding even as XRP’s price weakened.
The next measurable development will be whether the stated allocation plans produce sustained fund inflows. Future 13F filings will also show whether large managers increased, reduced or exited their XRP ETF positions during the third quarter.
For now, Bitwise’s event indicates curiosity rather than confirmed demand. XRP dominated questions from the audience, but most participants had not yet made any cryptocurrency allocation.
Odds of a September Federal Reserve rate hike fell back to a coin-flip on Friday, a sharp reversal after the probability touched 70% just a day earlier and sat as low as 37% a week before that.
The swing tracks a rally that has pushed Bitcoin (BTC) toward $82,000.
Rate Bets Whipsaw Ahead of the September Meeting
The CME Group (Chicago Mercantile Exchange) FedWatch tool now shows the September 16 meeting split almost evenly between holding the benchmark rate at 3.50-3.75% and lifting it a quarter point to 3.75-4.00%.
The tool had assigned the hike a 70% probability as recently as Thursday.
The FedWatch data also pushed back the timeline for a second hike. A move to the 4.00-4.25% range isn’t priced as the most likely outcome until the March 2027 meeting. Rather than December 2026 as futures had implied earlier in the week.
Iran and Oil Are Driving the Volatility
The odds have been whipsawing alongside oil prices and bond yields tied to the Iran conflict, which has kept traders guessing on inflation.
Fed Chair Kevin Warsh faced a market split on the hike question at Jackson Hole, and the central bank remains divided over whether to keep tightening.
Bitcoin has moved in step with the shifting rate outlook. The asset blasted past $80,000 this week as talk of an end to the Iran war spread, and traded near $81,000 on Friday, up roughly 5% over 24 hours.
A lower hike probability typically eases pressure on Treasury yields and the dollar. These are both tailwinds for Bitcoin’s price action this week.
Whether that holds through the September 16 decision may depend on how the Iran situation, and the next inflation print, develop in the coming days.
The post Fed Rate Hike Odds Fall to 50/50: Will Bitcoin's Rally Above 80,000 Hold? appeared first on BeInCrypto.
Standard Chartered has expanded institutional Bitcoin and Ether spot trading to the UAE through its DIFC branch, giving eligible clients access to deliverable crypto trades through the bank’s existing electronic trading systems.
Summary
- Standard Chartered has launched institutional Bitcoin and Ether spot trading in the UAE through its DIFC branch.
- Eligible clients can trade BTC and ETH through the bank’s existing electronic trading channels and FX interfaces.
- Clients can settle trades with a custodian of their choice, including Standard Chartered’s UAE digital asset custody service.
- The bank said it is the first G-SIB to provide institutional digital asset spot trading in the UAE.
Standard Chartered said on Sept. 3 that the service makes it the first Global Systemically Important Bank to offer institutional digital asset spot trading in the UAE and the only global bank currently providing the capability in the region.
Eligible institutional clients can trade Bitcoin and Ether through Standard Chartered’s electronic channels using interfaces already employed for foreign exchange trading. Settlement can be handled through a custodian selected by the client, including the bank’s own UAE digital asset custody service.
The launch combines trading and custody capabilities that Standard Chartered has been building separately in the UAE since 2024, while extending a spot trading business first introduced through its UK branch last year.
Standard Chartered brings Bitcoin and Ether trading to DIFC
Trading is being offered through Standard Chartered DIFC, the bank’s branch in the Dubai International Financial Centre.
Clients will receive deliverable Bitcoin and Ether instead of gaining exposure through a derivative tied to the price of either cryptocurrency. Standard Chartered began offering the same type of institutional trading through its UK branch in July 2025, becoming the first G-SIB to provide deliverable Bitcoin and Ether spot trading to institutional clients.
As crypto.news previously reported, the UK service was introduced for institutional customers including corporations, asset managers and professional investors, with transactions available through the bank’s existing FX trading interfaces.
The UAE deployment brings that trading setup into the same market where Standard Chartered already operates regulated digital asset custody.
Rola Abu Manneh, chief executive officer for the UAE, Middle East and Pakistan at Standard Chartered, said the country’s regulatory framework had supported institutional participation in digital assets.
“Extending our Bitcoin and Ether spot trading capability to institutional clients is a significant step in broadening our regulated digital asset proposition in the market,” Abu Manneh said.
She said combining execution with custody, governance and the bank’s international network gives institutional clients a more integrated route into digital asset markets.
UAE clients can separate execution from custody
Standard Chartered will not require clients using the new trading service to hold their Bitcoin or Ether with the bank.
Institutions can instead settle transactions through a custodian of their choice, giving them the ability to separate trade execution from asset storage. Standard Chartered’s own digital asset custody platform remains one of the available options.
The bank launched that custody service in the UAE in September 2024 after receiving a license from the Dubai Financial Services Authority within DIFC. Bitcoin and Ether were the first supported assets, while Brevan Howard Digital was named the inaugural client.
Its role in UAE institutional crypto infrastructure later expanded through a collateral mirroring program with OKX in April 2025.
Under the arrangement, institutional customers can keep eligible collateral with Standard Chartered while using its value for trading on OKX. The assets remain with the bank instead of being transferred directly to the exchange, while corresponding collateral balances are mirrored into client trading accounts.
The program began in the UAE with support from Brevan Howard and Franklin Templeton.
In April 2026, the framework was extended to BlackRock’s tokenized U.S. Treasury fund BUIDL. Eligible institutional and VIP clients can use BUIDL as collateral while Standard Chartered holds the fund off exchange.
OKX handles margining and liquidation within its trading system, while clients retain ownership of the tokenized fund and its yield under the structure.
DIFC provides the regulated base for the trading service
Christopher Parsons, senior executive officer at Standard Chartered DIFC, said the financial center provides a base from which international financial institutions can deploy services across regional markets.
“Extending our institutional digital asset trading capability through the Centre demonstrates the strength of that model,” Parsons said, citing the combination of Standard Chartered’s markets business, international network and regulated DIFC presence.
Standard Chartered has used DIFC for several parts of its institutional digital asset business. Its custody platform operates from the financial center, while some collateral arrangements involving digital assets are structured around assets held by the bank in Dubai.
The bank’s digital asset operations extend outside the UAE through its corporate and investment bank and associated ventures.
Its institutional strategy covers custody, trading and tokenization, while Zodia Markets operates in digital asset trading infrastructure and Libeara develops tokenization products.
Standard Chartered has meanwhile continued to add regulated digital asset services in other financial centers. In Hong Kong, its local banking unit became the first bank distributor of the HKDAP stablecoin in August, giving eligible institutional clients and partners access to the regulated Hong Kong dollar-backed token.
HKDAP is issued by Standard Chartered-backed Anchorpoint, which received one of Hong Kong’s stablecoin issuer licenses in April. The token entered controlled beta access for institutions and professional investors, with uses including payments, fiat conversion and tokenized asset settlement.
Standard Chartered Bank Hong Kong plans to introduce subscription and settlement services for tokenized money market funds during the fourth quarter of 2026.
Standard Chartered extends a trading model launched in the UK
The UAE service follows more than a year of development around Standard Chartered’s direct institutional crypto trading business.
When the UK operation went live in July 2025, Bitcoin and Ether trades were integrated into existing institutional trading platforms so clients could access crypto through infrastructure already used for traditional markets.
Standard Chartered said at the time that the setup was intended to allow institutions to transact and manage digital asset exposure within its regulated banking environment.
The bank has since tested other structures linking crypto trading with traditional financial market infrastructure. Its digital asset activities span direct spot execution, custody, collateral services and tokenization, while its venture businesses provide separate trading and tokenized asset capabilities.
For UAE clients, the Sept. 3 rollout adds direct Bitcoin and Ether execution to the custody infrastructure Standard Chartered has operated in DIFC since September 2024.
Institutions using the service can route trades through the bank’s electronic trading channels and choose where the resulting assets are held, including settlement into Standard Chartered’s own custody platform.
Snowflake’s upbeat AI outlook is turning into a broader software trade, with a wave of enterprise names rallying alongside it and Jim Cramer flagging more room to run.
The move adds to a stretch of earnings this season where AI-linked spending has repeatedly rewarded shareholders, even as some investors question how long richly priced software names can keep climbing.
AI is Driving the Software Firm
Snowflake shares jumped 23% on Thursday after the cloud data platform lifted its fiscal 2027 product revenue forecast to $6.07 billion, up from $5.84 billion, alongside a 37% year-over-year jump in second-quarter product revenue.
CEO Sridhar Ramaswamy said artificial intelligence (AI) tools are now driving growth across Snowflake’s core platform, not just its standalone AI products, calling it a compounding “flywheel effect” for the business.
Shares hit their highest level since December 2021, adding roughly $25 billion in market value in the move. The stock has now climbed 39% for the year, more than triple the S&P 500’s 12% gain over the same stretch.
Software Stocks Move Together
The rally spilled into peers. ServiceNow, Salesforce’s record earnings run, Atlassian, Adobe, and Intuit all climbed between 3.5% and 6%, while the iShares Expanded Tech-Software Sector ETF added 3%.
Morgan Stanley analysts said the pattern of consistently faster growth in recent quarters shows AI is meaningfully driving usage of Snowflake’s own platform, beyond its dedicated AI tools.
At least 34 brokerages raised their price targets following the results, according to data compiled by LSEG, with Wells Fargo issuing a Street-high call of $525. Snowflake now trades near 15 times forward revenue, well above the software-sector ETF’s 7.4 times, and its 121.8 times forward earnings dwarfs Datadog’s 72.7 times and MongoDB’s 52.1 times.
CNBC’s Jim Cramer weighed in after the report, flagging a huge move still ahead for the stock, and calling it the cleanest way for cautious enterprises to buy AI compute on demand.
So Snowflake remains the best way for the uncertain to get compute but Broadcom tells a story of an explosion of business coming. Snowflake will have a huge move…
— Cramer
The reaction echoes a pattern seen elsewhere this earnings season, including Salesforce’s own AI-driven breakout and software stocks rebounding after months of AI-replacement fears.
Whether that momentum holds may depend on how quickly Snowflake and its peers can turn rising AI demand into durable margin, rather than just top-line growth.
The post Snowflake's AI-Fueled Beat Sparks Software Rally: Will Others Follow? appeared first on BeInCrypto.
The Wyoming Stable Token Commission adopted Chainlink Proof of Reserve on Sept. 2 to publish near-real-time reserve and supply data for the state-issued Frontier Stable Token, or FRNT.
Summary
- Wyoming adopted Chainlink Proof of Reserve to publish verified FRNT reserve and supply data onchain.
- The Network Firm examines reserve balances while Chainlink distributes resulting verification data across supported blockchains.
- Wyoming already publishes daily FRNT attestations, compared with monthly disclosures required under federal stablecoin law.
- Secure Mint remains under adoption and would block issuance whenever verified reserves trail token supply.
- FRNT launched in January, backed by dollars and short-term U.S. Treasury securities, according to Wyoming.
The integration combines independent examinations conducted by The Network Firm with Chainlink’s infrastructure. The Network Firm checks reserve assets and outstanding token balances under standards established by the American Institute of Certified Public Accountants.
Chainlink then delivers the resulting verification data onchain. The arrangement gives users a more recent view of FRNT’s backing than periodic reports alone, according to the joint announcement.
Chainlink reserve data supplements daily attestations
Wyoming already publishes daily FRNT reserve attestations through the commission’s website. Proof of Reserve adds an automated onchain distribution layer to those independent examinations.
However, an onchain feed does not independently inspect cash or Treasury securities. It publishes data produced through the underlying examination process. Its reliability therefore depends on the accuracy of the reserve records, the external examiner and Chainlink’s data-delivery infrastructure.
The commission described the integration as providing “near real time” verification. It did not disclose the precise update frequency, the data feed’s contract addresses or the conditions that would trigger an alert when reserve coverage changes.
Proof of Reserve also does not remove the need for financial audits, custody controls or public reporting. It offers an additional way for applications and market participants to access the reported reserve position onchain.
Wyoming says FRNT exceeds federal disclosure rules
The commission said its daily reporting and onchain verification “meet and exceed” the federal baseline established by the GENIUS Act. That comparison represents Wyoming’s assessment rather than a separate determination from a federal regulator.
NEW: @wyostable adopts Chainlink Proof of Reserve to set a new United States standard for digital asset transparency 🇺🇸
Via Chainlink, FRNT exceeds GENIUS Act requirements & becomes the first stablecoin issued by a U.S. public entity to publish verified reserve data onchain. pic.twitter.com/sk7gjRGzer
— Chainlink (@chainlink) September 2, 2026
The federal law requires permitted payment stablecoin issuers to publish monthly reports covering reserve composition and outstanding supply. Those reports must receive an independent examination, while company officers must certify their accuracy.
Wyoming argues that monthly reports provide only a point-in-time view and leave a gap between reporting dates. Daily attestations and an onchain data feed can narrow that gap, although they do not guarantee that reserves cannot change between updates.
The GENIUS Act also contains requirements beyond reserve disclosures, including rules governing permitted assets, redemptions and regulatory supervision. The commission’s announcement focused on transparency and did not claim that Proof of Reserve replaces those obligations.
Secure Mint would connect reserves directly to issuance
Wyoming is also adopting Chainlink’s Secure Mint feature. The feature is not yet confirmed as operational for FRNT.
Once implemented, Secure Mint would require verified reserves to equal or exceed FRNT’s outstanding supply before allowing new tokens to be issued. A failed reserve check would prevent additional minting until the reported coverage returned to the required level.
The commission said this structure could reduce the risk of an “infinite-mint attack,” where an attacker exploits issuance controls to create unbacked tokens. Secure Mint would address one part of that risk by placing a reserve condition inside the minting process.
Its effectiveness will depend on implementation details that have not been published. These include update intervals, emergency controls, administrator permissions and procedures for handling inaccurate or unavailable reserve data.
FRNT expands its use of Chainlink infrastructure
Wyoming publicly launched FRNT on Jan. 7, 2026. The commission says the token is backed by U.S. dollars and short-term U.S. Treasury securities. Income generated from the reserves supports the state’s School Foundation Program.
The reserve verification announcement follows Wyoming’s migration of FRNT’s cross-chain infrastructure from LayerZero to Chainlink’s Cross-Chain Interoperability Protocol.
As crypto.news previously reported, Wyoming moved FRNT to Chainlink after completing a security review in August. CCIP now serves as the token’s exclusive cross-chain infrastructure under a multiyear agreement.
FRNT is available across eight public blockchains, including Ethereum, Solana, Base, Avalanche, Arbitrum, Optimism, Polygon and Hedera. The commission previously used LayerZero to support transfers between those networks.
Earlier crypto.news coverage documented how Wyoming prepared FRNT for public distribution through partners including Kraken and Visa. The token later became publicly available in January after its technical mainnet deployment in 2025.
The next confirmed milestone will be the activation of Secure Mint. Wyoming has not announced a launch date, leaving the reserve-gated issuance system as a planned feature rather than a current protection.
Taiwan’s Financial Supervisory Commission has said nine supporting regulations for its new Virtual Asset Service Act, including detailed stablecoin rules, could be formally introduced as early as the first quarter of 2027.
Summary
- Taiwan’s FSC is preparing nine regulations under the Virtual Asset Service Act, including rules covering stablecoins.
- The regulations could be formally published and implemented as early as the first quarter of 2027.
- Taiwanese financial firms are assessing stablecoins for cross border payments, custody, tokenization and other digital asset services.
- Industry executives see stablecoins and blockchain as potential infrastructure for payments and financing across Taiwan’s semiconductor supply chain.
Financial Supervisory Commission Chairman Peng Jinlong said at the FinTechOn 2026 and Asia FinTech Alliance Summit in Taipei on Sept. 2 that global discussions around virtual assets and stablecoins have moved from whether they should be developed to how they should be properly regulated.
Taiwan’s legislature passed the Virtual Asset Service Act in its third reading on June 30, establishing a licensing framework for crypto businesses and rules governing stablecoin issuance.
The FSC is now working on nine subsidiary regulations needed to implement the legislation, Peng said. Stablecoin requirements will form part of that package, with the regulator targeting the first quarter of next year for their publication and implementation.
Taiwan stablecoin rules move toward implementation
Once the new law and supporting regulations take effect, Peng expects Taiwan’s virtual asset and stablecoin sector to enter a new stage under formal supervision.
The Virtual Asset Service Act requires crypto businesses to obtain FSC approval before operating and covers exchanges, trading platforms, transfer providers, custodians, underwriters and lending businesses. Existing companies registered under Taiwan’s previous anti-money laundering regime have been given a transition period to move into the licensing system.
Stablecoin issuers face a separate approval process involving both the FSC and Taiwan’s central bank. Issuers will be required to maintain full reserve backing, place reserve assets in trust and comply with audit and disclosure requirements.
Crypto.news previously reported in July that the legislation moved Taiwan away from a system largely based on AML registration toward supervision covering operations, customer protection, cybersecurity, market conduct and financial reporting.
The framework developed from an FSC draft released in March 2025, which set out proposed licensing standards for virtual asset businesses and requirements for stablecoin issuers. Earlier proposals contemplated allowing banks to issue New Taiwan dollar-pegged stablecoins subject to regulatory approval.
Peng said rapid development in artificial intelligence and blockchain technology is pushing Taiwan and other financial markets toward a model in which traditional finance, digital finance and blockchain-based finance operate alongside one another.
Taiwan has taken a similar regulatory approach to AI. The FSC has published six core principles and related guidelines for financial institutions using artificial intelligence and plans to expand work involving AI-based fraud prevention and financial data applications while keeping risks under control.
Stablecoins emerge as an option for semiconductor payments
The discussion around stablecoins is extending into Taiwan’s semiconductor supply chain, where companies process large volumes of international payments, trade financing and corporate treasury transactions.
Taiwan Semiconductor Industry Association executive director Lu Chaoqun said AI is driving rapid expansion in the global semiconductor business. Global semiconductor annual revenue approached $800 billion in 2025 and could exceed $1.5 trillion this year, according to Lu.
He projected the industry could challenge $2 trillion in annual revenue within the next two to three years and potentially reach approximately $3 trillion by 2035. Taiwan’s semiconductor industry cluster, meanwhile, is moving toward a scale of $1 trillion.
Taiwanese manufacturers assemble and ship roughly 90% of the world’s AI servers and account for around 76% of global semiconductor foundry revenue, Lu said. Components and finished goods move across borders every day, creating payment, financing and corporate capital management requirements alongside physical supply chains.
Factories and logistics networks can operate around the clock, while international payments remain constrained by banking hours, time zones and settlement procedures.
Lu said stablecoins, blockchain technology and financial technology have consequently become urgent infrastructure for supply-chain companies handling cross-border payments, trade financing and treasury management. He argued that financial institutions should work as partners to AI, semiconductor and technology companies instead of limiting their role to providing financial services.
Programmable payments could connect supply chains
Taiwan FinTech Association Chairwoman Wang Li-ling said advances in AI, blockchain, stablecoins and programmable payments are bringing goods, information and money flows closer together within global supply chains.
Under such systems, AI could forecast demand while logistics systems adjust automatically, blockchain networks verify transactions and documents, and programmable payment systems release funds when agreed conditions have been met.
For stablecoins, Wang said the important part is not the “coin” but whether trust can be established behind the “stable” component.
She said stablecoins could make liquidity management more efficient for multinational businesses, shorten settlement periods for importers and exporters, and potentially lower payment costs for small and medium-sized businesses in emerging markets participating in international supply chains.
Cross-border use would require regulation extending beyond individual jurisdictions, Wang said. Reserve management, redemption, technology and regulatory standards would need sufficient cross-border trust, while the increased use of AI in decisions involving goods, capital allocation and supplier risk would raise questions involving data quality, cybersecurity, privacy, model governance and responsibility.
Taiwan has been tightening the infrastructure surrounding crypto transfers as the licensing system takes shape. In August, the FSC proposed expanded Travel Rule requirements for domestic virtual asset transfers, including additional identification requirements for transactions above NT$30,000.
The regulator intends to extend the framework to transfers between Taiwanese and overseas virtual asset service providers by the end of 2027.
Financial institutions assess stablecoin opportunities
Cathay Financial Holdings senior executive vice president Sun Chih-te said digital assets and stablecoins have moved from an area once treated as peripheral by traditional financial institutions toward a new area of financial development.
Large financial institutions can no longer remain outside the sector, he said, though mainstream adoption still faces issues involving market scale, regulation and customer experience.
Cathay is evaluating opportunities involving stablecoins, digital asset custody, cross-border payments and tokenization, according to Sun. The financial group wants to examine potential expansion into digital asset lending and trading while studying applications across insurance, asset management, wealth management and securities businesses.
Cross-border payments are among the applications Cathay considers most capable of reaching scale in the immediate future. The company is evaluating the role it could play within such an ecosystem and which partners could participate.
Taiwan had been considering a banking role in stablecoin issuance well before passage of the Virtual Asset Service Act. An earlier FSC proposal envisioned locally issued stablecoins pegged to the New Taiwan dollar, with issuers subject to regulatory approval and oversight involving the central bank.
Sun said regulatory requirements need to be clear and fair while providing room for innovation alongside anti-money laundering, know-your-customer, security and compliance obligations. Restricting development to the safest possible areas, he said, could leave projects stuck at the proof-of-concept stage.
Stablecoin-based cross-border payments would require a degree of regulatory coordination between markets so different systems can work together, according to Sun.
Customer experience will ultimately determine whether digital asset products move beyond trials, he said. Stablecoins and other digital asset services would need to deliver improvements in actual use, not simply offer faster, cheaper or more efficient transactions in theory.
“Getting to 90% is not enough,” Sun said, arguing that the final 10% can determine whether an innovation remains a concept or becomes a solution adopted by the mainstream market.
Asia FinTech Alliance Chairwoman Tsai Yu-ling said the organization now connects 16 Asian markets and is working to help participating economies share experience and develop common solutions. Its newly launched AFA Awards will support fintech companies seeking expansion across those markets, giving selected businesses what Tsai described as a faster route into the alliance’s 16-market network.
Echo Base formed an ad hoc committee of BitMart claimholders on Sept. 2, following the crypto exchange’s decision to wind down its operations.
Summary
- Echo Base formed an ad hoc committee representing BitMart customers with assets frozen after shutdown.
- Echo Base says BitMart never answered its proposed $10 million restructuring commitment submitted August 6.
- The committee retained two law firms and is assessing bankruptcy, regulatory and other recovery options.
- No court has determined whether customers retain ownership rights over assets held through BitMart accounts.
- BitMart appointed restructuring counsel and promised users a detailed roadmap by September 9, 2026 publicly.
In a statement shared directly with crypto.news, Echo Base said the committee represents a “significant and growing aggregate balance” of frozen customer assets. It did not disclose the number of participating claimholders or the value of their claims.
The special situations firm said the group retained Young Conaway Stargatt & Taylor and Ashbury Legal. The committee is considering restructuring, regulatory and insolvency remedies.
Echo Base says its $10 million offer went unanswered
Echo Base said it submitted a written proposal to BitMart management on Aug. 6. The proposal offered up to $10 million to sponsor a pre-negotiated bankruptcy filing.
According to the statement, the money would cover professional and administrative expenses through confirmation of a restructuring plan. Echo Base said BitMart did not respond. Crypto.news could not independently verify the communications between the companies.
Echo Base also described a dispute involving one of its affiliates. It said the affiliate requested a withdrawal on July 24, approximately 31 hours before BitMart announced its closure.
The affiliate allegedly made 15 attempts to contact the exchange before delivering a formal demand on Aug. 8. Echo Base said BitMart neither executed the withdrawal nor identified a contractual or legal reason for withholding the assets. BitMart has not publicly addressed that specific account.
BitMart is considering a different restructuring plan
BitMart announced its orderly wind-down on July 26. It suspended new registrations, deposits and new orders before ending trading services on Aug. 26.
The exchange initially said it planned to cease platform operations on Jan. 31, 2027. Withdrawals would remain available, although BitMart warned that compliance reviews and heavy demand could delay processing.
As crypto.news previously reported, BitMart’s shutdown sent BMX down more than 60% within 24 hours. BitMart attributed the closure to its operating conditions, the market environment and its future strategy.
However, BitMart changed course on Aug. 21. In an official update, the company said it was developing a possible restructuring plan as an alternative to a full wind-down.
That plan “may include” phased business resumptions and creditor distributions, BitMart said. The exchange appointed White & Case as restructuring counsel and promised another update by Sept. 9.
Claimholders are considering court proceedings
Echo Base said the committee is studying whether qualifying creditors could commence or join an involuntary insolvency proceeding. The firm stressed that no decision had been made.
An involuntary U.S. bankruptcy petition must meet statutory requirements governing creditor eligibility, claim amounts and disputed debts. A court would ultimately decide whether any petition could proceed. The committee is an independently organized group, not a statutory creditors’ committee appointed within an existing bankruptcy case.
Echo Base also argues that BitMart’s user agreement does not transfer ownership of deposited assets to the exchange. That remains the committee’s legal position rather than a court ruling. The treatment of customer crypto would depend on the relevant contracts, entities, jurisdictions and any eventual proceeding.
“BitMart still has time to run an orderly wind-down. What it does not have is anyone willing to put capital behind one. Out of court there is no stay, so a single claimant can stall the process for everyone, and any holder the company cannot reach retains its claim indefinitely. That is not a wind-down, it is an open liability with a queue attached.” said Echo Base’s chief executive Roshan Dharia.
Dharia added that Echo Base had offered “capital at risk” to support a court-supervised process. He said the proposal had remained outstanding since Aug. 6.
The Sept. 9 roadmap is the next deadline
BitMart’s promised Sept. 9 update should clarify whether it will pursue a partial reopening, creditor distributions or its original closure schedule. The exchange has not publicly accepted Echo Base’s proposal.
Echo Base said it remains willing to negotiate with BitMart and its advisers. Until an agreement or court filing emerges, the committee’s recovery options remain under review and the status of individual frozen withdrawals may differ.
A hacker associated with the third wave of Coldcard wallet thefts began converting stolen Bitcoin into Ether through THORChain on Sept. 3, according to Galaxy Research’s Alex Thorn.
Summary
- Third-wave Coldcard attacker moved roughly 10% of stolen Bitcoin through THORChain into Ether this week.
- Researchers traced the swaps to a new Ethereum address and shared details with relevant authorities.
- Around 90% of the third-wave funds remained unmoved when Galaxy researcher Alex Thorn reported transfers.
- THORChain repeatedly refunded some swap attempts, prompting the attacker to resubmit transactions, Thorn reported Wednesday.
- Coinkite says affected seeds require migration because installing corrected firmware cannot repair existing wallet credentials.
The transactions moved approximately 10% of the Bitcoin controlled by that attacker, Thorn said. Roughly 90% remained at its original addresses when he published the update.
Researchers traced the swaps through THORChain to a newly identified Ethereum address. Thorn said he shared the address with law enforcement, crypto companies and other organizations monitoring the stolen assets.
Coldcard hacker encounters failed THORChain swaps
THORChain allows users to exchange native assets across blockchains without depositing funds into a centralized exchange. The protocol can therefore convert native Bitcoin into Ether without relying on a conventional custodial platform.
However, not every transaction succeeded. Thorn said the hacker appeared to be experiencing technical problems while attempting to process the swaps.
“The hacker appears to be having some issues swapping all the funds through THORChain — they keep getting refunded and he keeps retrying,” Thorn said.
The cause of the refunds was not immediately confirmed. Possible explanations include liquidity limitations, transaction settings or protocol safeguards, but no verified technical assessment had established the reason.
The movement represented the first detected onchain transfer from the original addresses associated with the first three attack waves, according to Thorn. Analysts will now monitor whether the resulting ETH moves to centralized exchanges, bridges or privacy services.
Galaxy traced 1,789 Bitcoin to the thefts
Galaxy Research previously attributed the loss of 1,789.28 BTC across 8,865 addresses to the Coldcard vulnerability. The Bitcoin was worth approximately $114.7 million when stolen.
As crypto.news previously reported, approximately 87% of the identified Bitcoin remained unmoved as of Aug. 25. The estimate included funds linked to multiple attackers and attack waves, not only the wallet now using THORChain.
Galaxy’s figures partly relied on 221 victim reports covering 790.72 BTC. Onchain analysis identified additional affected addresses beyond those reported directly by customers.
The total remains an estimate because researchers have identified several attacker patterns with different levels of confidence. Galaxy has distinguished its high-confidence attribution from other addresses that may also relate to the vulnerability.
Earlier attackers used cryptocurrency mixers
The latest THORChain swaps are separate from earlier laundering activity attributed to other attackers. CertiK reported in August that wallets linked to the broader incident sent 64 BTC and 200 ETH toward cryptocurrency mixers.
In related coverage, crypto.news found that one attacker retained 1,159 BTC while another began mixing smaller amounts. The different movements suggest that several parties may have exploited the same weakness.
Mixers and cross-chain swaps can complicate tracking, but they do not automatically make funds untraceable. Investigators can continue following transfers when assets enter and leave public protocols.
Centralized exchanges remain potential intervention points because they conduct identity and sanctions checks. Thorn said the new Ethereum destination had been distributed to relevant companies so they could identify subsequent deposits.
Coldcard users still need new wallet seeds
The theft was linked to weak seed generation in Coldcard firmware released from 2021. The vulnerability reduced the randomness protecting some wallet credentials, allowing attackers to calculate private keys without physically accessing the devices.
Coinkite, Coldcard’s manufacturer, says corrected firmware is available across affected models. Its current security guidance states that previously generated vulnerable seeds still require migration.
Installing updated firmware does not repair a seed created under the affected software. Users must generate a new seed with corrected firmware and transfer their Bitcoin to addresses controlled by that new wallet.
Meanwhile, the attacker also remained active after the largest theft waves had ended. On Aug. 29, an address linked to the operation swept Bitcoin from a deliberately weakened researcher wallet, according to Thorn. Researchers created the wallet to test whether the attacker continued searching for predictable private keys. Its rapid compromise indicated that automated scanning remained active nearly one month after the first large thefts.
coldcard hackers are still active. here, a hacker swept keys that were generated with 5 dice rolls of added entropy 🎲 https://t.co/vJ9U7w9JxL
— Alex Thorn (@intangiblecoins) August 28, 2026
The incident has also prompted closer examination of how hardware wallets generate recovery phrases. Unlike phishing attacks, the Coldcard thefts did not require victims to approve transactions or reveal credentials. The exposed seeds contained insufficient randomness, allowing attackers to derive keys remotely and identify funded addresses on Bitcoin’s public ledger. As crypto.news previously explained, the firmware flaw weakened seeds generated on affected devices, meaning secure storage practices could not protect funds tied to those credentials.
Galaxy and other investigators are expected to continue watching the new Ethereum address. No public recovery, arrest or official identification of the attacker had been announced when the transfers were reported.
Bitcoin price held near $77,700 on Sept. 3 after recovering from an intraday low around $76,264, but weakening spot demand and $236.5 million in US ETF outflows kept the rebound under pressure.
Summary
- Bitcoin price recovered above $77,000 after buyers defended the $76,000–$76,500 liquidity zone.
- US spot Bitcoin ETFs recorded $236.5 million in net outflows during the latest session.
- A falling wedge places immediate resistance near $78,000, followed by $79,500 and $80,300.
- Positive daily money flow and stronger Aroon readings show sellers have not regained full control.
Bitcoin price holds above $77,000
According to data from crypto.news, Bitcoin (BTC) price traded around $77,700 at the time of writing, up about 1.2% over 24 hours after moving between $76,264 and $78,184.
The recovery followed another test of the $76,000 area, where the CoinGlass one-week liquidation heatmap showed a large concentration of leveraged positions. Buyers prevented a sustained break below that zone, allowing Bitcoin to move back toward $78,000.
Price action on the 4-hour chart remains compressed inside a falling wedge. The upper boundary sits near $78,000, while the lower trendline approaches $76,000. Falling wedges can precede an upside move, but Bitcoin has not confirmed a breakout.
The pattern developed after BTC repeatedly failed to hold above $80,000 in late August. The market has since formed lower highs while continuing to find demand between $76,000 and $77,000.
ETF outflows add to weaker Bitcoin demand
SoSoValue data showed that US spot Bitcoin ETFs recorded $236.46 million in net outflows during the latest reported trading session. Bitwise’s BITB was the only fund to post a net inflow.
The withdrawals removed a source of spot buying as Bitcoin struggled to recover above $78,000. They also followed signs that the demand supporting the August rally was beginning to fade.
CryptoQuant analyst Darkfost reported that Bitcoin’s apparent demand turned negative again on Sept. 2. The metric compares newly mined supply with changes in inactive holdings to estimate whether the market is absorbing available coins.
Market analyst Rain said the negative reading indicated that newly issued and previously inactive Bitcoin was no longer being absorbed at the same pace. Rain linked the change to BTC’s brief decline toward $76,400 and warned that continued weakness could turn $77,000 from support into resistance.
Demand data alone does not determine Bitcoin’s next move, but negative readings combined with ETF withdrawals leave the market more dependent on short-term buyers.
Bitcoin liquidity builds on both sides
The CoinGlass heatmap showed the nearest large downside liquidity cluster around $75,900–$76,200. A break below that area could trigger forced selling and expose $74,000, followed by the 4-hour breakout base near $72,000.
Larger pools of liquidity sit above the current price. The first cluster appears around $78,500–$78,800, with a denser band near $79,500. Further concentrations are visible between $80,000 and $80,500 and around $81,500.
Those levels could attract price if Bitcoin clears the falling wedge, but they may also act as resistance as leveraged traders close positions.
An analyst posting as Crypto with Haris identified $76,000 as the key short-term support. He projected a move toward $73,000 if that floor breaks and said his bearish view would be invalidated if Bitcoin reclaimed and held the $80,000–$83,000 range. His targets represent a personal forecast rather than a confirmed market outcome.
Technical indicators favor consolidation
Bitcoin’s 4-hour relative strength index stood at 48.66, slightly above its signal average of 43.95. The reading reflects neutral momentum and gives BTC room to move in either direction without entering overbought or oversold conditions.
The Aroon Up indicator registered 57.14%, compared with 7.14% for Aroon Down. The gap suggests recent highs are forming more frequently than new lows, giving buyers a limited short-term advantage despite the declining price channel.
The daily chart carries a stronger structure. Bitcoin remained above its 20-day simple moving average at $74,622 and well above the 50-day average at $68,428. The 100-day and 200-day averages stood near $66,303 and $69,586, respectively.
Chaikin Money Flow was positive at 0.32, showing that buying pressure continued to exceed selling pressure on the daily timeframe. The reading conflicts with the weaker apparent-demand signal, indicating that capital flow and on-chain demand have not deteriorated uniformly.
A 4-hour close above $78,000 would break the wedge’s upper trendline and put $79,500–$80,300 back in focus. Bitcoin would then need to clear the May resistance area near $82,800 to strengthen the broader recovery.
Failure to hold $76,000 would weaken the pattern and raise the risk of a move toward $74,000 and $71,800.
Fed rate expectations remain a US risk
US monetary policy remains another source of uncertainty for Bitcoin. Markets assigned about a 64% probability to a 25-basis-point Federal Reserve rate increase at the Sept. 16 meeting, following Chair Kevin Warsh’s warning about persistent inflation.
The 10-year Treasury yield remained near 4.8%, giving investors a higher-yielding alternative to non-yielding assets such as Bitcoin. Reuters reported that government debt, capital demand linked to artificial intelligence investment, and expectations for a higher neutral interest rate were contributing to pressure in the bond market.
For US traders, the immediate setup centers on the $76,000–$78,000 range. A confirmed move outside the falling wedge would provide a clearer signal, while ETF flows and the Sept. 16 Fed decision could determine whether Bitcoin challenges $80,000 or returns toward lower support.
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
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