PA Daily | MetaMask Token is about to launch; Near AI is expected to launch an encryption chat platform by early next month.

Today's news reminder:

Former member of Coinbase Ventures: The initial market value of Base tokens may be around $20 billion, and the token functions may be similar to ETH.

The Solana Foundation and Ark Invest participate in a $300 million financing for Solmate.

PayPal's stablecoin PYUSD has expanded to blockchains such as Tron, Avalanche, and Sei through LayerZero.

Consensys CEO: MetaMask tokens are coming soon, and possibly “faster than you expect”.

Zhao Changpeng posted that “TWT token is expanding its use cases,” TWT has increased by over 37% in the last 24 hours.

Near AI will launch a crypto chat platform this month or early next month, with NEAR rising 11.6% in the last 24 hours.

Upbit will list ETHFI, RESOLV, INIT, and SPK tokens on the BTC and USDT markets.

A certain whale is suspected of selling 20.92 million APX, worth approximately 12.3 million USD.

Macro

Hong Kong Institute of Certified Public Accountants: Expected to launch accounting and auditing guidelines for virtual assets in the first half of 2026.

According to Aastocks, the Hong Kong Institute of Certified Public Accountants responded to the Chief Executive of Hong Kong, John Lee's “Policy Address” stating that Hong Kong is launching diversified measures to promote economic development, with innovation and technology becoming the new driving force for economic growth. The Hong Kong Institute of Certified Public Accountants, as the standard setter for the accounting profession in Hong Kong, is formulating appropriate guidelines on accounting and auditing work related to virtual assets and related matters, and expects to launch these in the first half of next year. Additionally, it is suggested to introduce measures to complement the existing patent box mechanism, including the launch of an intellectual property financing sandbox and promoting intellectual property transactions to encourage local innovation and technology activities, thereby enhancing Hong Kong's competitiveness in related fields. Further development of the digital asset market.

EU Commissioner pledges to advance pension and cryptocurrency reform within the year.

According to Jinshi reports, the EU has set a year-end goal to take further measures to promote pension investments and simplify trading processes, striving to inject momentum into the revival of European capital markets. EU Financial Services Commissioner Mairead McGuinness announced the relevant plans on Thursday. She also stated that the European Commission is considering granting direct regulatory authority to its top market oversight body in Paris—the European Securities and Markets Authority (ESMA). She mentioned that with the transfer of regulatory authority to ESMA, the European Commission will consider the feasibility of implementing centralized regulation for certain market infrastructures such as central counterparties, central securities depositories, and trading venues. She added that emerging sectors like crypto asset service providers will also benefit from more centralized regulation, emphasizing that this move will not undermine the role of national regulatory authorities.

Due to the obstruction of Brian Quintenz's nomination, the White House is considering more candidates for the CFTC chair.

According to a report by Bloomberg, informed sources say that due to the stagnation of the confirmation process for Brian Quintenz as head of the regulatory agency, the White House is seeking more candidates for the chairman of the Commodity Futures Trading Commission (CFTC). Recent discussions have intensified, with potential candidates including government officials focused on cryptocurrency policy. The Trump administration has not announced the abandonment of Quintenz, and both Quintenz and the CFTC have declined to comment. White House officials stated that the process is still in its preliminary stages. Additionally, there are reports that Michael Selig, chief advisor to the Securities and Exchange Commission's cryptocurrency special working group, is also on the list of candidates; he previously served as a partner in the asset management business at Willkie Farr & Gallagher. Tyler Williams, the digital asset policy advisor to Treasury Secretary Scott Bessent, is also considered a candidate; he worked at Galaxy Digital before joining the Treasury. The CFTC is supposed to consist of five members with partisan balance, but due to a series of resignations, only the acting chair Caroline Pham, appointed by former President Biden, remains.

The Bank of Canada calls for the establishment of a stablecoin framework in the country to avoid falling behind other nations.

According to Cointelegraph, the Bank of Canada has called for the establishment of a regulatory framework for stablecoins to modernize the payment system and avoid falling behind other countries in advancing relevant policies. On Thursday, Ron Morrow, Executive Director of Payments and other matters at the Bank of Canada, stated during a speech at the Chartered Professional Accountants Conference in Ottawa: “Even if we are on the right path, stagnation will lead to being overtaken. For stablecoins to be regarded as currency, they must be as secure and stable as bank account balances. Governments around the world are tightening regulations on stablecoins and other cryptocurrencies to benefit consumers and mitigate credit and liquidity risks. In fact, many jurisdictions globally have already introduced or are about to introduce regulatory frameworks for crypto assets.”

Kalshi's trading volume this month has reached $1.3 billion, surpassing Polymarket.

According to The Block, the prediction platform Kalshi is experiencing its best month in nearly a year. The company stated on Thursday that it currently “accounts for 62.2% of the global prediction market trading volume, a stark contrast to a year ago when Kalshi only accounted for 3.1% of the global volume.” Kalshi also emphasized that its services are only available to U.S. consumers. Data shows that as of this month, Kalshi's monthly trading volume has reached $1.3 billion, far exceeding its competitor Polymarket's $773 million. The last time Kalshi's monthly trading volume exceeded $1 billion was during the U.S. elections in November 2024. Although the month is not yet over, Polymarket may still potentially surpass it, but Kalshi's performance in recent months indicates that the platform is becoming increasingly popular.

PayPal's stablecoin PYUSD expands to blockchains such as Tron, Avalanche, and Sei through LayerZero.

According to The Block, PayPal's stablecoin PayPal USD (abbreviated as PYUSD) is expanding to multiple new blockchain networks including Tron, Avalanche, and Sei through integration with LayerZero's StarGate Hydra cross-chain bridge. PYUSD is issued by Paxos Trust Company, initially launched natively on Ethereum, and later expanded to Solana and Arbitrum, with Stellar network added yesterday. LayerZero stated on Thursday that with this expansion, a permissionless version of the token called “PYUSD0” will be introduced to an additional seven blockchain networks: Abstract, Aptos, Avalanche, Ink, Sei, Stable, and Tron. Furthermore, the existing cross-chain versions of PYUSD on Berachain and Flow will also be upgraded to PYUSD0.

opinion

Former member of Coinbase Ventures: The initial market value of Base token may be around $20 billion, and the token functions may be similar to ETH.

According to the latest interview report by Unchained, Coinbase's L2 project Base has announced that it is exploring the possibility of issuing a token, marking a significant shift from its previous stance of not planning to issue a token. Former Coinbase Ventures member Ryan Ye predicts that the initial market value of the Base token could be around $20 billion, with the potential to rise to $40 billion to $50 billion. He believes that the token issuance will significantly boost the development of the Base ecosystem and attract more developers and users. Ryan speculates that the token distribution might include: 20%-40% for Coinbase, about 20% for an independent community treasury, and the remaining portion distributed to the community through airdrops or public sales. He also pointed out that the Base token's functions may be similar to Ethereum's ETH, partly used for on-chain fee burning while potentially becoming a core liquidity asset in DeFi. Furthermore, Base has integrated with Solana on the testnet. Ryan believes this indicates that Base recognizes Solana as its biggest competitor and is attracting developers through this move. He noted that the competition between Base and Solana mainly focuses on user culture and DeFi liquidity, with Base leaning more towards DeFi liquidity while Solana excels in user experience and consumption culture. Related articles: Having repeatedly stated that it would not issue a token, why is Base now backtracking?

Consensys CEO: The MetaMask token is coming soon, and it may arrive “faster than you expect.”

According to The Block, ConsenSys CEO Joe Lubin stated in an interview that the MetaMask token is coming soon and may arrive “faster than you expect.” Previously, in May, it was reported that the co-founder of MetaMask mentioned that their team is still considering launching a native token.

Project Updates

Binance Alpha will launch Kyuzo's Friends (KO)

Binance Alpha will become the first platform to launch Kyuzo's Friends (KO) on September 20. Eligible users can go to the Alpha event page to claim airdrops using Binance Alpha points after trading opens on Alpha.

Near AI will launch a crypto chat platform this month or early next month, with NEAR rising 11.6% in the last 24 hours.

According to Ilia Polosukhin, co-founder of Near, it was revealed on the Rollup TV podcast that Near AI will launch a crypto chat platform this month or early next month, aimed at replacing existing chat tools like ChatGPT. This product ensures user data privacy through end-to-end encryption technology, allowing users to provide data decryption permissions in a controlled environment, further enhancing the security and personalized experience of AI services. Additionally, the platform will serve as a developer tool, supporting new applications to access data context based on user permission, promoting the rapid development of new types of applications. At the same time, NEAR is positioned as an “AI blockchain” and has developed frameworks like Shade Agents, enabling autonomous robots to operate across chains while protecting data privacy. Shade Agents combine Trusted Execution Environment (TEE) with NEAR's decentralized key management technology, supporting cross-chain transactions, interactions with AI models, asset management, and privacy-preserving computation, combining the flexibility of Web2 with the verifiability of Web3. According to OKX market data, NEAR has risen 11.6% in the last 24 hours, currently priced at $3.25. Previously, it was reported that the NEAR Foundation has established an AI research and development laboratory focused on developing AI developer tools.

Holding at least 200 Binance Alpha points allows you to claim 1280 Ark of Panda tokens (AOP) airdrop.

The Binance Alpha platform will launch the Ark of Panda (AOP) token trading event on September 19, 2025, at 20:00 (Beijing Time). During the event, users holding at least 200 Binance Alpha points can claim an airdrop of 1,280 AOP tokens, on a first-come, first-served basis. If the event has not ended, the points threshold will automatically decrease by 15 points every hour.

Hold at least 200 Binance Alpha points to claim 5000 Dill tokens DL.

Binance Alpha platform announced that it will launch Dill (DL) token trading on September 19, 2025, at 19:30 (Beijing time), along with an airdrop event. According to the rules of the event, users holding at least 200 Binance Alpha points can claim 5000 DL tokens, while supplies last, first come, first served.

Binance: The participation threshold for the JOJO TGE event is 210 Alpha points.

Binance has announced the participation threshold for the exclusive TGE event of JoJoWorld (JOJO): Users with Binance Alpha points greater than or equal to 210 can participate in this TGE event through the Alpha event page. Participating in this event will consume 15 points.

Binance: The threshold for participating in the first phase of River's BuildKey TGE is 209 points.

Binance announced on platform X that to participate in River's BuildKey TGE, users must meet the following Binance Alpha points requirements: Phase One (BuildKey Subscription): A minimum of 209 Alpha points is required, and participating will deduct 15 points. Phase Two (BuildKey Trading): A minimum of 61 Alpha points is required, and participating will not deduct points.

Zhao Changpeng posted that “TWT token is expanding its use cases,” with a 24-hour increase of over 37%.

Zhao Changpeng retweeted the “Trust Wallet updates token Litepaper” post and stated: “The TWT token was initially just an experiment. The price of FDV quickly rose. They destroyed 99% of the supply, but there weren't many use cases. Now, (use cases) are expanding.” According to Coingecko, the current price of the TWT token is $1.1, with a 24-hour increase of 37.6%.

Binance launches Solayer (LAYER) fourth round HODLer airdrop

According to the official announcement, Binance will launch the fourth round of the HODLer airdrop as part of the 18,000,000 LAYER airdrop plan. Details of the fourth round LAYER HODLer airdrop: 6,000,000 LAYER will be distributed in this fourth round HODLer airdrop; Eligible users: Users who purchase principal guaranteed coins ( with BNB during the period from September 12, 2025, 08:00 to September 15, 2025, 07:59 (UTC+8) or use on-chain earning products will receive the airdrop allocation. Airdrop distribution time: Distribution will be completed within 24 hours after this announcement is released.

Upbit will list ETHFI, RESOLV, INIT, and SPK tokens on the BTC and USDT markets.

According to the official announcement, the South Korean cryptocurrency exchange Upbit will launch ETHFI, RESOLV, INIT, and SPK tokens on the BTC and USDT markets.

The Ethereum mainnet Fusaka upgrade is tentatively scheduled for December 3rd this year.

Former Galaxy Digital Vice President Christine Kim stated on platform X that the Ethereum developer conference ACDC 165 made significant decisions today. Developers confirmed the schedule for the public testnet of Fusaka and the timeline for the BPO hard fork. Developers reached a consensus on the upcoming schedule for Fusaka: the Holesky upgrade on October 1, the Sepolia upgrade on October 14, the Hoodi upgrade on October 28, and the mainnet upgrade on December 3. In the coming days, they will reconfirm the exact dates, times, and epoch numbers. Developers also unanimously agreed that, based on some preliminary analysis of Fusaka Devnet-5, the blob capacity should more than double within two weeks after the activation of Fusaka. Initially, there will be no changes to the blob capacity. After the first week, the first BPO fork will activate, increasing the blob target number/max number from 6/9 to 10/15. One week after the first BPO fork, the second BPO fork will activate, and these values will further increase to 14/21.

) Important data

Ethereum spot ETF saw a total net inflow of $213 million yesterday, with none of the nine ETFs experiencing a net outflow.

According to SoSoValue data, yesterday (Eastern Time September 18), the total net inflow of Ethereum spot ETFs was $213 million. The Ethereum spot ETF with the highest net inflow yesterday was Fidelity ETF FETH, which had a net inflow of $159 million in a single day, bringing FETH's total historical net inflow to $2.927 billion. The second was Grayscale's Ethereum Trust ETF ETH, with a single-day net inflow of $22.9041 million, currently bringing ETH's total historical net inflow to $1.454 billion. As of the time of this report, the total net asset value of Ethereum spot ETFs was $30.539 billion, with an ETF net asset ratio (the ratio of market value to total Ethereum market value) reaching 5.49%, and the historical cumulative net inflow has reached $13.872 billion.

The total net inflow of Bitcoin spot ETFs yesterday was $163 million, with none of the twelve ETFs experiencing a net outflow.

According to SoSoValue data, yesterday (Eastern Time September 18) the total net inflow for Bitcoin spot ETFs was $163 million. The Bitcoin spot ETF with the highest single-day net inflow yesterday was Fidelity ### ETF FBTC, with a single-day net inflow of $97.3526 million, and the total historical net inflow for FBTC has now reached $12.661 billion. The second highest was Ark Invest and 21Shares' ETF ARKB, with a single-day net inflow of $24.9951 million, and the total historical net inflow for ARKB has now reached $2.227 billion. As of the time of writing, the total net asset value of Bitcoin spot ETFs is $155.053 billion, with an ETF net asset ratio (market value relative to total Bitcoin market value) of 6.62%, and the historical cumulative net inflow has reached $57.495 billion.

A certain whale is suspected of selling 20.92 million APX, worth approximately 12.3 million USD.

According to Lookonchain monitoring, the whale 0xD3DA is suspected of selling 20.92 million APX (worth approximately $12.3 million) on Aster. This whale deposited 20.92 million APX into Aster two days ago and then withdrew 10.75 million USDT, with an average transaction price of $0.514.

Pendle's multi-signature wallet has transferred 1.2 million PENDLE back to Binance, worth approximately $6.44 million.

According to on-chain analyst Yu Jin's monitoring, 10 minutes ago, the Pendle multi-signature wallet (0x811) transferred 1.2 million PENDLE (worth approximately $6.44 million) back to Binance.

A certain whale redeemed its staked ETH and stETH after one year and transferred 4,412 ETH to Binance.

According to on-chain analyst Yu Jin's monitoring, a whale that earned over $12 million on Blast continues to take profit: early this morning, it redeemed its ETH deposited in StakeStone and AOProtocol a year ago, and transferred 4,412 ETH (worth about $20.24 million) to Binance. This whale deposited 4,412 ETH in StakeStone and 8,168 stETH in AOProtocol last year when the price of ETH was around $3,800. Today, it withdrew all ETH and stETH, with ETH directly transferred to Binance, while stETH is in the process of being redeemed for ETH, which is expected to also be transferred to Binance after successful redemption. In this operation, these ETH have realized a profit of $10 million compared to the time of deposit (excluding airdrop earnings obtained from staking).

The first-day trading volume of the REX-Osprey XRP ETF reached $37.7 million, making it the largest first-day trading volume of any listed fund this year.

According to Cryptobriefing, the REX-Osprey XRP ETF (ticker symbol XRPR) achieved a trading volume of $37.7 million on its first day. The fund is listed in the United States and offers spot exposure to XRP. According to Eric Balchunas's post on X, its first-day trading volume surpassed that of IVES, making it the largest first-day trading volume among funds listed in 2025; meanwhile, the REX-Osprey Dogecoin (Doge) ETF, which was listed on the same day as the XRP fund, had a first-day trading volume of $17 million, ranking in the top five among 710 funds listed this year.

( Financing/Merger

The DEX aggregator Titan has completed a $7 million seed round of financing, led by Galaxy Ventures.

The Solana ecosystem meta-DEX aggregator Titan has announced the completion of a $7 million seed round financing, led by Galaxy Ventures, with participation from Frictionless, Mirana, Ergonia, Auros, Susquehanna, and several angel investors. Titan stated: “This financing will accelerate Titan's efforts to build a comprehensive portal to the internet capital markets, which is specifically designed for traders seeking better trade execution on Solana.” It was introduced that Titan has officially ended its private testing phase and is now open to the public on the titan.exchange platform. In addition, Titan has launched the Titan Prime API, a meta-aggregator application programming interface that compares quotes from leading routing tools on Solana, including Titan's proprietary Argos algorithm.

The RGB Protocol Bitlight Labs has completed a $9.6 million Pre-A round of financing, led by Amber Group and Fundamental Labs.

Bitlight Labs announced the completion of a $9.6 million Pre-A round of financing, led by Amber Group and Fundamental Labs, with other participating investors including UOB Venture Management, Signum Capital, ArkStream Capital, Side Door VC, Outliers Fund, Taisu Ventures, HV Capital, SuDo Research, and Gate Ventures. This financing will be used to develop production-grade integration based on the RGB protocol and Lightning Network, aimed at building a low-cost settlement system for Bitcoin-native stablecoins, serving the wallet and merchant ecosystem. Bitlight Labs stated that it will continue to promote the intelligent development of Bitcoin, the Lightning Network, and the RGB protocol.

IG Group has invested $72.4 million to acquire a 70% stake in the Australian cryptocurrency exchange Independent Reserve.

The online trading platform IG Group has acquired a majority stake in the Australian cryptocurrency exchange Independent Reserve for $72.4 million, aiming to strengthen its position in the rapidly growing crypto market in the Asia-Pacific region while complementing its recent cryptocurrency business layout in the UK and the US. IG Group will initially acquire 70% of Independent Reserve and has the option to purchase the remaining 30% in the future based on performance. The transaction is expected to be completed in early 2026, with a total price of $117.6 million. Independent Reserve is one of the earliest regulated cryptocurrency trading platforms in Australia, supporting the trading of 34 cryptocurrencies, covering the Australian and Singapore markets. The platform achieved $23.3 million in revenue for the fiscal year ending June 2025, an 88% year-on-year increase, with active monthly users growing by 60% and total assets under custody reaching $1.12 billion. IG Group expects this acquisition to enhance the company's earnings starting from the fiscal year 2027.

The hybrid cryptocurrency exchange GRVT has completed a $19 million Series A financing round, led by ZKsync and Further Ventures.

According to The Block, the hybrid decentralized exchange GRVT based on the Ethereum scaling layer ZKsync has completed a $19 million Series A financing round, led by ZKsync and Further Ventures, with participation from EigenCloud and 500 Global. The new funding will help GRVT expand its product range, covering cross-exchange vaults, cross-chain interoperability, and plans to utilize EigenDA's programmable privacy features. GRVT combines the user experience and compliance of CEX with the self-custody features of DEX. Its mainnet Alpha version is set to launch on ZKsync by the end of 2024, with trading categories expanded from cryptocurrency perpetual contracts to spot and options. Currently, GRVT is applying for operating licenses in multiple regions, having already obtained a VASP license in Lithuania back in 2023. Previously, GRVT raised approximately $14.3 million through multiple rounds of financing and secured $2.2 million through a private token sale in March 2024. According to news on September 16, Grvt will conduct its TGE in Q1 2026, with community rewards accounting for 20% of the total token supply.

Institutional Holdings

The publicly listed company SunCar plans to invest up to 10 million USD in real-world asset cryptocurrency.

According to Businesswire, digital auto insurance and auto service provider SunCar Technology Group (NASDAQ: SDA) has announced that its board has authorized the company to invest up to $10 million in mainstream cryptocurrencies expected to benefit from the rapid development of Real World Asset (RWA) tokenization. Additionally, SunCar is exploring strategies to integrate blockchain and risk-weighted asset ###RWA( tokenization into its existing cloud-based digital insurance business model.

The Solana Foundation and Ark Invest participate in a $300 million financing for Solmate.

According to The Block, Brera Holdings will be renamed Solmate and has secured $300 million through private financing, with investors including the Solana Foundation, Cathie Wood's Ark Invest, Pulsar Group, and RockawayX. Solmate will acquire Solana (SOL) at a discount price and plans to dual-list on Nasdaq and in the UAE. The company's CEO is former Kraken Chief Legal Officer Marco Santori, and the board members include Arthur Laffer and RockawayX CEO Viktor Fischer. Solmate will continue to operate Brera Holdings' sports club business.

Brera Holdings, which completed a $300 million private placement financing, has been renamed Solmate and launched the SOL Vault in the UAE.

According to AggrNews, former Pantera partner leads Solmate in the UAE and manages a $300 million Solana digital asset treasury )DAT(. The press release shows that Brera Holdings (NASDAQ: BREA) announced it will be renamed Solmate and has completed a $300 million private placement financing led by UAE's Pulsar Group, with participation from ARK Invest and others. Solmate will focus on Solana, establishing a digital asset treasury and laying out blockchain infrastructure, with plans to deploy high-performance Solana validator nodes in Abu Dhabi to encourage regional investors to participate in SOL staking. Marco Santori will serve as CEO, and the Solana Foundation has the right to appoint additional board members. The company will continue to operate its existing multi-club sports business.