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Hyperliquid Labs and Kraken parent Payward have entered advanced talks to offer selected Hyperliquid-linked perpetual futures to U.S. traders through CFTC-regulated exchange Bitnomial.

Hyperliquid could reach U.S. traders through Bitnomial

Bloomberg reported on Aug. 31 that Hyperliquid Labs and Payward are discussing a structure that would place selected crypto perpetual futures on Bitnomial, a U.S. derivatives exchange owned by the Kraken parent.

Under the proposed setup, eligible American customers would trade the contracts through Bitnomial rather than connect directly to Hyperliquid’s decentralized platform. The companies have not disclosed which assets would be included, how many contracts could be listed, or whether HYPE would be among the underlying tokens.

Payward has already presented the Commodity Futures Trading Commission with an outline of the arrangement, according to Bloomberg. Regulatory clearance is still required, and no launch date or commercial terms have been announced.

Bitnomial would handle the U.S. trading venue, customer access, and compliance requirements. Hyperliquid technology would support the assets or markets linked to the selected products, allowing the arrangement to separate the regulated contracts from the permissionless platform used by the protocol’s existing customers.

American users remain unable to access Hyperliquid directly. An August filing cited in earlier protocol coverage said the platform continued to restrict U.S. users and that Hyperliquid Strategies was unaware at the time of any pending CFTC approval process for the network.

The discussions do not amount to approval for Hyperliquid itself to operate as a U.S. exchange. Bloomberg’s reported structure instead places any American trading activity inside Bitnomial’s regulated system and limits access to contracts selected for that venue.

Payward already controls a full U.S. derivatives stack

Payward completed its acquisition of Chicago-based Bitnomial on May 1 after first valuing the transaction at up to $550 million in cash and stock. The final price was not disclosed.

Through the acquisition, Payward gained control of a designated contract market, a derivatives clearing organization, and a futures commission merchant. The three CFTC-regulated entities allow Bitnomial to combine exchange trading, clearing, and brokerage services within one corporate group.

As crypto.news previously reported, Bitnomial spent more than a decade building the licenses needed to operate that structure. Payward said at the time that Bitnomial would keep its regulatory framework and continue providing services to third parties after joining the company.

The infrastructure has already supported Payward’s U.S. expansion. Kraken introduced perpetual futures for eligible American clients through Bitnomial in June, placing the contracts alongside spot, margin, and traditional futures products on Kraken Pro.

Kraken said customers could use one collateral pool across perpetuals and other derivatives positions. John Palmer, Kraken’s global head of derivatives, said the setup reduced the need for traders to divide capital and positions among separate platforms.

Perpetual futures differ from dated futures because they do not have a fixed expiration. Recurring funding payments between long and short traders are used to keep the contract price close to the value of its reference asset.

Although the format is common on offshore exchanges and decentralized platforms, U.S. access has historically been limited by federal derivatives rules. Bitnomial’s involvement would give American traders access through a supervised exchange, but it would not open Hyperliquid’s full selection of onchain markets to them.

CFTC review will determine the permitted structure

The CFTC would serve as the main federal regulator for the proposed crypto derivatives because Bitnomial operates under the Commodity Exchange Act. Depending on the final structure and referenced assets, regulators would need to determine how the contracts are classified and whether their listing process meets applicable exchange requirements.

Hyperliquid-linked groups are already engaging U.S. regulators on related questions. In an Aug. 24 comment letter, the Hyperliquid Policy Center asked the SEC and CFTC to recognize qualifying cash-settled equity perpetuals as security futures.

The group argued that regulators should first examine how a derivative is structured and traded before using its underlying asset to divide oversight. Under its proposal, futures-like perpetual contracts tied to individual stocks would come under the security futures framework jointly administered by the SEC and CFTC.

HIP-3 markets using Hyperliquid infrastructure processed more than $480 billion in cumulative notional volume during their first 10 months, according to the policy center. Positions on the markets use central limit order books and continuous margin, while funding payments help align perpetual contract prices with their reference assets.

The proposed Payward arrangement concerns selected crypto contracts rather than unrestricted access to HIP-3 or the rest of Hyperliquid. Bloomberg did not report that the SEC is involved in the discussions, and neither Payward nor Hyperliquid has published the proposed contract list.

U.S. regulators would also expect the regulated venue and its intermediaries to apply customer identification, anti-money laundering, and sanctions controls. Such requirements differ from the permissionless access model used by decentralized trading protocols.

HYPE extends its August rally after the report

HYPE traded at about $84.50 when checked, rising roughly 3% over 24 hours after recovering from an earlier decline. The token had gained more than 60% since the start of August, though available reports did not establish that expectations of U.S. access caused the entire monthly advance.

Hyperliquid processes more than $4 billion in daily trading volume, according to figures cited in the original report. Any Bitnomial offering would cover only a selected portion of Hyperliquid-linked markets, while the companies have not disclosed whether revenue from the U.S. contracts would flow to the protocol or affect HYPE’s existing token-buyback system.

The most important week in Solana’s history is about to begin, and Jacob Creech, Vice President of Technology at the Solana Foundation, has released the announcement the Solana community has been eagerly awaiting.

Solana is about to enter a period of intensive technical upgrades: The first phase of gas fee reductions will begin this week, followed by the launch of Transaction V1 on September 9. Block times will continue to be reduced, the Alpenglow consensus upgrade will be rolled out in October, and the community is set to come together at the “Scale or Die” conference in November. Solana’s development will take on a whole new look from this point forward.

A series of upgrades will reshape Solana’s infrastructure in several areas, including cost, transaction capacity, confirmation speed, and validator architecture. However, technical upgrades do not necessarily mean that the price of SOL will rise; ultimately, this depends on developer adoption, user growth, and genuine on-chain demand.

For ordinary investors, however, in addition to keeping an eye on the evolution of public blockchain infrastructure, it is equally important to consider how to maximize the efficiency of their Solana assets. ASDeFi addresses this need by offering an automated yield mechanism that allows users to access potential returns on their Solana assets without having to run their own validators or wait for public blockchain upgrades.

Solana is accelerating its infrastructure upgrades, while the asset efficiency sector is also evolving in parallel. In the future, what will truly be worth watching may not just be which blockchain is faster, but rather which one can enable users and assets to create more tangible value.

ASDeFi: Continuously accumulate SOL without upgrades

From the V1 trading upgrade on September 9 to the Alpenglow mainnet, which is expected to launch in October, Solana is undergoing a major technical upgrade. For ASDeFi users, you can continue to accumulate rewards through cloud mining without having to wait for blockchain upgrades, validator registration, or governance processes. At the same time, ASDeFi has integrated with the Solana ecosystem, including SOL payments and the listing of related tokens on Orca DEX, so its cloud mining business complements the Solana upgrade.

ASDeFi: How it works

Founded in 2020 and headquartered in the United Kingdom, AS DeFi is a cryptocurrency asset service platform specializing in AI-powered cloud mining. Through an AI-driven computing power scheduling system, it combines green-energy mining facilities with automated yield management to enable round-the-clock automated operation. Users can start mining cryptocurrency without having to purchase mining equipment or bear the costs of equipment maintenance, electricity, or complex technical management.

How do I join ASDeFi?

1. Go to register a cloud mining account: https://asdefi.com

Enter your email address and password to create an account. You’ll receive a $15 bonus upon registration, and a $0.60 bonus for logging in every day.

2. Deposit cryptocurrency

The platform supports deposits and withdrawals of more than a dozen cryptocurrencies, including SOL, XRP, BTC, ETH, DOGE, BNB, and USDT.

3. Purchase hashrate contracts

Purchase a $15 contract. The platform also offers a variety of hashrate contracts; choose one with the return that best fits your investment budget.

Examples of common contracts:

Check-in Contract: $15 — 1-day cycle — Total profit of approximately $15.6

Introductory Contract: $100 — 2-day cycle — Total profit of approximately $108

Basic Contract: $1,000 — 10-day cycle — Total profit of approximately $10,140

Stable Contract: $6,000 — 20-day cycle — Total profit approximately $8,040

Stable Contract: $30,000 — 30-day cycle — Total profit approximately $47,100

(For more contract details, please visit the official website.)

4. Start mining and earn rewards

Once the contract purchase is complete, the platform automatically allocates computing power resources, and the system begins running. You can view your earnings in real time on your phone and withdraw them to your wallet at any time.

Summary

With upgrades such as Transaction V1 and Alpenglow rolling out, Solana continues to optimize transaction efficiency, confirmation speeds, and network infrastructure. For investors, while keeping an eye on the technological advancements of public blockchains, there are also opportunities to explore new possibilities in terms of asset efficiency and participation methods.

ASDeFi offers SOL holders a way to participate without having to purchase mining equipment themselves, through cloud mining and automated computing power management. As blockchain infrastructure continues to upgrade, the integration of technological innovation with asset use cases will remain a key focus for the market.

For more details, visit: https://asdefi.com

Download the app: https://asdefi.com/xml/index.html#/app

Customer service email: [email protected]

BitMine Immersion Technologies has purchased another 53,501 ETH, lifting its Ethereum treasury to 5,901,112 tokens worth about $14.54 billion at the time of writing.

BitMine’s Ethereum holdings have reached 5.9 million ETH

BitMine Immersion Technologies said in its latest treasury update that it held 5,901,112 ETH as of Aug. 30, after buying 53,501 tokens during the preceding week.

“Over the past week, we acquired 53,501 ETH,” Chairman Tom Lee said.

Using the company’s reference price of $2,511, the Ethereum position was valued at approximately $14.82 billion when BitMine recorded the snapshot at 3 p.m. Eastern Time. Management said its ETH balance accounted for about 4.9% of Ethereum’s reported supply of 120.7 million tokens.

At the time of writing, CoinGecko data showed Ethereum trading near $2,464, down about 0.4% over 24 hours and 1.1% across seven days. Applying that updated price places BitMine’s ETH holdings at approximately $14.54 billion, although the value will move with the token’s market price.

The latest acquisition extended BitMine’s buying run to 65 consecutive weeks. According to Lee, the company has added ETH every week since it adopted the treasury strategy on June 30, 2025.

Buying accelerated compared with several earlier updates. Earlier crypto.news coverage showed BitMine adding 9,946 ETH in late July, taking its holdings to 5,787,414 tokens. Another 9,926 ETH entered the treasury during the week ending Aug. 16, followed by 32,447 ETH in the next reporting period.

BitMine previously identified ownership of 5% of Ethereum’s supply as its treasury target. Based on the company’s supply figure, 5% would equal about 6.04 million ETH, leaving the current balance roughly 134,000 tokens below that threshold.

In June, Lee indicated that buying could slow once the company approached its target. A previous treasury report placed the balance at approximately 5.54 million ETH, or 4.6% of supply, after BitMine acquired 25,000 ETH from BitGo.

Staked Ethereum could produce $335 million annually

Alongside the treasury expansion, BitMine reported that 5,067,309 ETH had been staked through its own infrastructure and outside validator partners. The position accounts for approximately 85.9% of its entire Ethereum balance.

At CoinGecko’s latest price, the staked tokens are worth about $12.49 billion. BitMine valued the same position at close to $12.73 billion using its Aug. 30 reference price of $2,511.

Management estimated that the deployed ETH could generate $335 million in annualized staking revenue. The calculation used a seven-day annualized staking yield of 2.63%, meaning the actual return can change with Ethereum’s validator participation rate, network rewards, operational performance and protocol conditions.

Once more of its ETH is deployed, Lee said annual staking revenue could reach $390 million under similar yield conditions. Around 833,803 ETH remains outside the reported staked balance.

BitMine launched MAVAN, short for Made in America Validator Network, in 2026 as its institutional Ethereum staking operation. Part of the company’s balance is already deployed through MAVAN, while partner validators handle another portion.

Staking has developed into a central revenue source for the company. A July treasury report said BitMine generated $45.7 million from staking and validation during the three months ended May 31, equal to about 98% of its $46.5 million in quarterly revenue.

The income also supports BitMine’s preferred-stock strategy. In June, the company declared a $0.1056 dividend on each share of its 9.50% Series A Perpetual Preferred Stock, traded on the New York Stock Exchange under the ticker BMNP. Lee previously said staking income could help finance payments on the preferred shares.

BitMine’s combined holdings stood at $15.6 billion

Beyond Ethereum, BitMine’s Aug. 30 disclosure listed 211 Bitcoin, a $180 million investment in Beast Industries and an $81 million stake in Eightco Holdings. Cash and marketable securities totaled $541 million.

Using the prices and valuations captured for the company’s update, BitMine placed the combined value of its crypto assets, cash, securities and strategic investments at $15.6 billion. The figure represents a dated company snapshot rather than a fixed balance because cryptocurrency prices and listed investments continue to fluctuate.

BitMine described itself as the largest reported corporate Ethereum treasury. Strategy, led by Executive Chairman Michael Saylor, remains the largest digital-asset treasury company by total asset value because of its Bitcoin holdings.

For U.S. investors, exposure is available through BitMine’s NYSE-listed common stock under the ticker BMNR, as well as its BMNP preferred shares. BMNR traded near $24.27 at the time of writing, up about 2% during the session, with an intraday range between $23.72 and $24.46.

Fundstrat previously found that BMNR had an 80% correlation with ETH in a study of 17 large-cap stocks, compared with 74% for Coinbase. The research did not disclose the period or return interval used for the calculation, and correlation can change as stock and cryptocurrency prices move.

BitMine’s latest five-session average daily dollar trading volume reached approximately $1.36 billion through Aug. 29, according to the company. Management said the figure placed BMNR among the most heavily traded U.S. stocks by dollar volume.

Concentrating much of the company’s reported value in Ethereum also creates risks for shareholders. BitMine’s quarterly SEC filing identifies ETH price volatility, liquidity constraints, unrealized losses, custody arrangements, counterparty exposure and changes to U.S. rules governing digital assets and staking as factors that could affect its results.

Ethereum price remains below the $2,550 resistance zone

Ethereum was trading near $2,464 at the time of writing, giving the token a market capitalization of approximately $297.3 billion, according to CoinGecko. Trading volume stood near $15.45 billion over 24 hours.

Price has remained below the $2,540–$2,550 resistance area after several failed attempts to sustain a breakout. A recent Ethereum technical analysis identified resistance near $2,533, where an ascending triangle and a concentration of leveraged positions created another test for buyers.

On the weekly chart cited in the supplied analysis, ETH sat between its 50-week exponential moving average near $2,374 and its 50-week simple moving average around $2,542. The two averages define the immediate consolidation range while the price remains below the upper boundary.

Crypto analyst Ted said a weekly close above $2,550 could clear a path toward resistance near $2,800. Under his downside scenario, losing the $2,370 area could expose the $2,180–$2,220 support zone.