This week showed once again how politics, finance, and crypto are now fully intertwined.
Missed the action? If you need a catch-up, we’ve pulled together the highlights you should know.
The assassination of Charlie Kirk on September 10 shocked the U.S. political scene and in crypto, it set off a disturbing rush. Within hours, Solana’s pump.fun was flooded with “RIPCharlieKirk” and “JusticeforCharlie” tokens, some spiking over 10,000% in a single day.
DexScreener data shows market caps running into millions, while one creator reportedly made $300,000 in just an hour. Watchdogs warn most of these tokens are scams, echoing the same hype-and-crash cycle seen in “Justice for Iryna” coins.
The U.S. SEC has once again hit pause on key crypto ETF proposals, extending review deadlines for funds from BlackRock and Franklin Templeton. Franklin’s Ethereum staking amendment is now due November 13, while decisions on its Solana and XRP ETFs move to November 14. BlackRock’s iShares Ethereum Trust staking plan is pushed to October 30.
Chair Paul Atkins recently told the OECD forum that “Crypto’s time has come.” Yet the agency has over 90 ETF filings still waiting for clarity.
Twelve Senate Democrats have released their own framework for crypto regulation, setting up a clash with Republicans who want to push their bill through by October. The plan outlines “seven key pillars,” calling for stronger consumer safeguards, rules to curb illicit finance, and clearer oversight by the SEC and CFTC.
It also highlights gaps in the spot market and even takes aim at President Trump’s crypto ties. Whether this competing approach gains traction remains uncertain but the fight for market structure is far from over.
Also Read: Sen. Warren Warns Trump’s New Crypto Bill Could “Blow Up” U.S. Economy, CZ Reacts
XRP is finally stepping onto Wall Street’s main stage. The first U.S. spot XRP ETF, run by Rex Shares and Osprey Funds, will begin trading on September 18 after a short delay. The SEC completed its 75-day review with no objections, clearing the way for a fund that actually holds XRP – not futures.
For investors, that means simple, regulated access through brokerage accounts. For XRP backers, it’s a long-awaited milestone that could bring steady inflows and fresh market credibility.
Hyperliquid’s first stablecoin vote has quickly escalated into a fight watched across crypto. Paxos, Frax, Sky, Agora, Curve, OpenEden and Bitgo are all pushing to issue USDH, the exchange’s first dollar-pegged asset. Ethena pulled out this week and endorsed newcomer Native Markets, sparking fresh talk of “backroom deals.”
The stakes are clear: whoever wins controls billions in stablecoin flows. For a lean 11-person team that processed $330B in July, the outcome could redefine Hyperliquid’s next chapter.
Crypto’s usual September slump may be on pause. Glassnode’s cofounders say Bitcoin, Ethereum, and Solana are all within weeks of fresh all-time highs. Their warning to traders was blunt: “This is not the time to step in front of the freight train.”
With BTC bouncing at $116K, ETH at $4,720, and SOL at $242, momentum is building. Rate-cut optimism, institutional inflows, and corporate treasury buys are setting the stage for a historic breakout.
The fallout from crypto’s biggest crashes is far from over. Three Arrows Capital has subpoenaed Sam Bankman-Fried and former FTX executives, claiming FTX forced through a $1.5 billion liquidation that pushed 3AC over the edge in 2022. Bankman-Fried, now in a California prison, is set to testify on October 14, 2025.
FTX’s estate denies the claim, saying only $82 million was liquidated. With billions still owed to creditors, this fresh clash between fallen giants could decide how crypto bankruptcies are settled in the future.
Arkham Intelligence has released its 2025 ranking of the world’s largest crypto holders, showing just how concentrated the market remains. Together, the top entities control around $1.6 trillion in digital assets. Binance leads with more than $209 billion, followed by Coinbase at $155 billion, while Bitcoin creator Satoshi Nakamoto’s stash stands at $125 billion.
BlackRock, Fidelity, Grayscale, and MicroStrategy also feature prominently. From exchanges and DeFi protocols to governments like the U.S. and U.K., the list highlights crypto’s global spread and growing institutional weight.
BlackRock is looking beyond Bitcoin ETFs and into tokenized funds. Bloomberg reports the asset manager is exploring ETFs on blockchain, a move that could open the door to 24/7 trading and new uses in DeFi. It’s not new territory for BlackRock – its $2.2B BUIDL fund is already the largest tokenized money market fund.
JPMorgan calls tokenization a “significant leap” for the $7 trillion fund industry, as Wall Street firms like Goldman Sachs and BNY Mellon prepare similar launches.
August CPI data came in right on target – 2.9% year-on-year, the highest since January, while core inflation stayed firm at 3.1%. On the surface, no surprises. But for traders, the message is clear: inflation isn’t cooling fast enough.
That leaves the Federal Reserve’s September 17 meeting in the spotlight, with markets split between a 25bps or even 50bps cut. For Bitcoin and risk assets, the weeks ahead could bring fresh swings as the Fed balances sticky prices with weak job data.
Here’s a few quick hits you shouldn’t miss!
Vietnam Launches Five-Year Crypto Pilot: Hanoi has cleared a trial program for regulated trading, with strict rules on capital, ownership, and local control. Over 17 million Vietnamese already hold crypto, making the country one of the world’s hottest markets.
Kazakhstan Eyes State Digital Asset Fund: President Tokayev has called for a national crypto fund to hold strategic reserves and expand digital finance. Crypto use in the country has doubled in two years, signaling rapid adoption.
Kraken Brings Tokenized Stocks to Europe: The exchange has rolled out Backed’s xStocks, giving EU users access to US equities through tokenized certificates. It joins Gemini and Robinhood in the race, as Nasdaq eyes its own move.
Ledger Flags Failed NPM Supply Chain Attack: Hackers tried to slip malicious code into popular JavaScript packages, aiming to hijack crypto transactions. Coding errors exposed the scheme early, sparing users but Ledger warns software wallets remain just one slip away from disaster.
First Dogecoin ETF Set for Sept. 11 Debut: Bloomberg’s Eric Balchunas says Rex-Osprey’s DOGE fund (ticker: DOJE) will mark the “memecoin ETF era.” The launch comes as CleanCore Solutions also disclosed a $68M Dogecoin treasury purchase.
Major shifts to expect ahead
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