OVERVIEW
Please Hold. Your Anxiety Is Important to Us. 😰
Here’s What’s Happening 👇
Today’s top trending tickers:
NEWS
I Bet That Sucks 🤦
This isn’t exactly James Wynn territory, but because $ZEC ( ▲ 1.93% ) has been trending lately (and hit a new ATH of $1,257), stories like this are always entertaining. I mean, unless you’re the dood on the wrong end of this trade. 😨
A wallet linked to Garrett Jin (former BitForex co-founder, HTX executive, etc) booked $11.24 million in profit closing a ZEC short on June 7. Good trade. The return visit has been considerably more expensive.
June 27 to July 5: Built a new short of approximately 32,760 ZEC at an average entry of $444.
September 7: With Lookonchain reporting more than $24 million in unrealized losses, added another 7,000 ZEC near $1,195. The short grew to roughly 39,760 ZEC. An $8.37 million addition to an argument the chart was already winning.
September 8: Bought back 7,000 ZEC near $1,165, recording a $4.12 million realized loss against the position’s blended entry price.
As of roughly 1300 EST, it still held approximately 32,760 ZEC short, worth $38.58 million, with $19.70 million in unrealized losses. The estimated liquidation price was $2,857. Plenty of room left for this trade to remain everybody’s business. 📆
NEWS
Visa’s On-chain Lending Idea Makes Annoyingly Good Sense 💳
Stablecoin card companies can have a healthy business and still need cash before incoming payments arrive. Growing faster makes that gap bigger. Congratulations, your reward for success is a financing problem. 🤯
Check the business: Credit Coop combines customer-authorized Visa settlement data with on-chain records to evaluate how a card program is performing.
Supply the cash: Participating lenders provide financing. Smart contracts automate funding and collateral management.
Get paid: Repayment comes from settlement flows. The lender can monitor incoming money and collect from it.
Actual activity: More than 3,000 borrowing events and 9,000 repayment events have already been processed programmatically on-chain.
$V ( ▼ 1.71% ) has more than 160 stablecoin-linked card programs, with payment volume growing nearly 200% year over year. Those companies need financing as they grow.
Someone found a use for blockchain that helps a business cover its obligations and gives the lender a way to get paid. Borderline offensive how reasonable it sounds. 😶
DEFI
Curve Had A Big Month And One Very Large Customer 🤯
According to $CRV ( ▼ 2.83% )’s August recap, the borrower-minted crvUSD jumped 97% to $72.2 million in August. That’s a hell of a monthly increase, though one borrower deserves a disproportionately large fruit basket. 🧺
Collateral grew faster than debt: Backing increased 108% to $146.4 million.
Coverage improved: Aggregate collateral rose from roughly $1.92 to $2.03 for every dollar borrowed.
One position did most of the lifting: A $20 million wstETH-backed position supplied 56% of the $35.5 million net borrowing increase.
Llamalend V2 grew separately: Borrowing increased 45% to $65.2 million, with collateral up 49% to $79.3 million.
Borrowing also got cheaper. The debt-weighted average rate across crvUSD mint markets finished August at 1.55%, down from 1.98% in July. Give people cheaper access to money and some will take you up on it. Occasionally for $20 million.
And the collateral numbers are encouraging. Borrowing nearly doubled while the backing per dollar of debt improved. Will that borrowing and growth stick around for this month? We’ll have to wait and see. ⏰
NEWS
SoFi Customers Could Use Kraken Without Opening Kraken 🦑
$SOFI ( ▼ 1.15% )’s will use Kraken Prime as an additional source of crypto liquidity and trade execution. Add another notch to Kraken’s wins. 🥇
Business inside the SoFi app: Kraken Prime will help supply liquidity for SoFi’s crypto offering. SoFi says members will get better pricing on their trades.
Dollars that work weekends: Payward (Kraken’s parent) will join the SoFi Exchange Network, giving Kraken’s institutional clients access to 24/7 USD settlement.
Another stablecoin listing: Kraken will list SoFiUSD, SoFi’s bank-issued stablecoin redeemable one-for-one for U.S. dollars. SoFi then gets distribution across Kraken’s retail, professional, and institutional customers.
Kraken getting business from people who might never open Kraken? Winning. Someone buys crypto in the same SoFi app they use to manage their paycheck, and Kraken Prime helps execute the trade. That doesn’t turn all 15.8 million SoFi members into Kraken customers. It gives Kraken another way to serve their trading activity without asking everyone to remember another damn password. 🔑
NEWS IN THREE SENTENCES
AI, Stablecoins, & Privacy News 🕵
💵 Circle Lets Apps Quote CCTP Fees Before USDC Moves
Circle’s CCTP now lets developers quote and collect Fast Transfer fees upfront in USDC or the source chain’s gas token. The Quote API bundles Fast Transfer and forwarding fees, so recipients receive the exact USDC amount promised instead of a destination-side deduction. It works across supported EVM origins and can send to Solana, though Solana-origin transfers remain unsupported. Circle.
🧬 FLock’s AI Turns Months Of Protein Motion Into 45 Seconds
IEEE ICDM 2026 accepted two FLock research papers developed with Oxford and Korea University researchers, amid a 19.9% acceptance rate across nearly 2,000 submissions. One model separates fast and slow protein motion; the other generates complete 64-frame transition paths. FLock says simulations that took months can run in about 45 seconds, a claim worthy of attention and independent testing. FLock.io.
NEWS IN THREE SENTENCES
Real World Asset Tokenization (RWA) News 🪙
🏦 Plume Puts RWA Yield Inside Fordefi’s Institutional Wallet
Plume Vaults are joining Fordefi Earn, placing nOPAL and FalconX’s nFXCF before 300-plus institutions moving over $120 billion on-chain monthly. Deposits and withdrawals retain Fordefi’s approval rules, quorum, and transaction checks; Plume reports $900 million deposited and $500 million redeemed so far. Both vaults deliver real-world credit exposure while preserving the custody policies customers already use. Plume Network.
🌉 AstralBeam Carries Casper RWAs Across EVM Networks
MAKE Group introduced AstralBeam, a public-testnet bridge linking Casper with Ethereum, Base, Polygon, and Robinhood Chain for regulated real-world assets. Transfers lock ERC-20s and mint matching CEP-18 tokens; three of five independent relayers must agree before value moves. Casper expects to become T-REX’s first non-EVM participant. Casper Network.
NEWS IN THREE SENTENCES
Metaverse, NFT, & Gaming News 🎮
🎲 Robinhood Routes Prediction Trades Through OG.com
Robinhood signed a multi-year deal to route retail event contracts through OG.com’s CFTC-regulated derivatives exchange and clearinghouse. The phased rollout to eligible US customers began today (September 8), while Robinhood received initial equity stakes in OG.com and Crypto.com. The OG.com spinout was valued at $5 billion. Robinhood.
NEWS IN THREE SENTENCES
DeFi, DEX, & Lending News 🏦
🎯 Carbon DeFi Builds Range Orders That Stay Filled
Carbon DeFi’s range orders execute progressively across custom prices while remaining one-directional, fully on-chain, and irreversible after each fill. That differs from limit-order ladders and concentrated-liquidity positions, which can reverse when price retraces unless users withdraw at the right moment. Makers pay no trading fee, can adjust orders on-chain, and need no keeper or external service to prevent reversals. Bancor.
⭐ SODA Starts Trading Natively On Stellar
SODA now trades on XLM Domains, settling natively on Stellar while EVM users control a Stellar smart wallet through MetaMask. SODAX says its execution system spans 20-plus networks; token supply is capped at 1.5 billion with no continuing emissions. Fees split 20% to buybacks and burns, 20% to stakers, and 60% to the DAO. Sodax.
🐳 BitMine’s Ether Hoard Reaches 5.93 Million
BitMine now reports $15.7 billion in crypto, cash, securities, and investments, led by 5.93 million ETH, or 4.9% of supply. It has staked 5.07 million ETH, projecting $330 million in yearly revenue at a recent 2.61% annualized yield. The firm says it is 97% toward its 5% supply target after buying ETH every week since June 2025. Bitmine.
NEWS IN THREE SENTENCES
Protocol News 🏦
🧾 Hedera Reminds Developers HCS Is Not Postgres
Hedera says its Consensus Service is a tamper-resistant, fairly ordered event log, not a database with queries, indexes, joins, or current-state lookups. The recommended architecture stores searchable data elsewhere while HCS records hashes and compact state changes as an immutable proof trail. Hedera.
⚛️ Starknet Sends Six Cents Through A Quantum-Resistant Wallet
An experimental Starknet account sent a six-cent mainnet transaction using Falcon-512 signatures, without changing addresses or waiting for a network fork. Smart-contract accounts can choose their own signature rules, while Starknet’s STARK proof layer already relies on hashes instead of elliptic curves. Starknet.
🏜️ Mina’s Mesa Upgrade Cuts Block Time In Half
Mina doubled the speed and enlarged the workbench, which beats repainting the same tractor and calling it progress. Mina’s Mesa upgrade is live, reducing slot time from 180 seconds to 90 while expanding zkApp state, event limits, and account updates per transaction. Mina Protocol.
OLD NEWS
Other Stuff That Happened Today, But A Long Ass Time Ago ⌛
September 8
1504 - Michelangelo’s 17-foot marble statue of David is unveiled publicly in Florence
1565 - Spanish settlers establish St. Augustine, the oldest continuously occupied European-founded city in the continental United States
1664 - Peter Stuyvesant surrenders New Amsterdam to the English, who rename the settlement New York
1900 - A Category 4 hurricane destroys much of Galveston, Texas, killing an estimated 6,000 to 12,000 people
1915 - A German Zeppelin bombs central London, killing 22 people and causing enormous property damage
1941 - German forces cut Leningrad’s final land connection, beginning a siege lasting nearly 900 days and killing roughly 1 million civilians
1943 - Italy publicly announces its armistice with the Allies. German forces promptly begin occupying the country and disarming Italian troops
1944 - Germany’s first operational V-2 rocket attack strikes London
1945 - American troops land in southern Korea while Soviet forces occupy the north
1966 - Star Trek premieres on NBC
1974 - President Gerald Ford grants Richard Nixon a full pardon
1978 - Iranian troops fire on anti-government demonstrators in Tehran during “Black Friday,” accelerating the collapse of the shah’s government
1994 - USAir Flight 427 crashes near Pittsburgh, killing all 132 aboard and triggering one of aviation history’s longest investigations
2023 - A magnitude 6.8 earthquake strikes Morocco’s High Atlas region, killing nearly 3,000 people and damaging historic mountain communities
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Author Disclosure: The author of this newsletter holds positions in AVAX, ADA, PUDGY, WLD, NEAR, INJ, LTC, LINK, ZEC, XLM, and FET. 📋