PA Daily | The approval probability of SOL ETF has risen to 100%; Qian Zhimin, the main perpetrator of the 60,000 Bitcoin money laundering case, pleads guilty in London court.

Today's news highlights:

The market share of Binance altcoin futures trading volume reached a historical high of 82.3%.

The U.S. Senate is currently reviewing a bill to “exclude video game assets from the regulation of digital goods.”

Bloomberg Analyst: The probability of SOL ETF approval has risen to 100%.

Qian Zhimin was found guilty in the UK for his involvement in a Bitcoin fraud case, with the amount involved being approximately 7.4 billion US dollars.

Turkey plans to allow regulators to freeze bank and cryptocurrency accounts.

The letter from the SEC to DoubleZero confirms that the 2Z token does not need to be registered as a securities.

Ethereum spot ETF had a total net inflow of $547 million yesterday, turning from net outflows to net inflows after five consecutive days of outflows.

CMCC Global will launch the Sonic ecosystem fund Resonance Fund with a scale of up to 25 million USD.

Macroeconomics

US SEC official website: The 19b-4 applications for tokens such as Solana, XRP, Cardano, and Ethereum staking ETFs have been withdrawn.

The official SEC website shows that in accordance with the general listing standards, the 19b-4 applications for Solana, XRP, Cardano, Litecoin, Polkadot, Hedera, and Ethereum staking ETFs have been withdrawn. Previously, it was reported that the SEC required the issuers of LTC, XRP, SOL, ADA, and DOGE ETFs to withdraw their 19b-4 filings. Bloomberg ETF analyst Eric Balchunas stated: “The general listing standards render the 19b-4 forms meaningless. Now only matters related to the S-1 forms remain.”

The U.S. Senate is currently reviewing a bill to exclude video game assets from the regulation of digital goods.

Robbie Ferguson, the president of Immutable, posted on platform X: “The U.S. Senate is considering a bill that would exclude video game assets from the regulation of digital goods, which opens a clear path for AAA game studios to issue game tokens. In addition, cryptocurrency reward programs, stablecoins for in-game payments, and ultimately game tokens are expected to surge.”

Qian Zhimin was convicted in the UK for his involvement in a Bitcoin fraud case, with the amount involved approximately $7.4 billion.

According to BBC reports, Chinese citizen Qian Zhimin played a key role in the world's largest single seizure of cryptocurrency, with the involved cryptocurrency valued at over £5.5 billion (approximately $7.4 billion). On Monday, she pleaded guilty to the crime of illegally obtaining and possessing cryptocurrency at Southwark Crown Court in London. The Metropolitan Police stated that from 2014 to 2017, Qian Zhimin defrauded over 128,000 victims in China, storing the proceeds in Bitcoin. This guilty plea is the result of a seven-year investigation into a global money laundering network. The investigation leader indicated that she evaded justice for five years, and the case involves multiple jurisdictions, making the investigation complex. Qian Zhimin fled to the UK using forged documents, attempting to buy property to launder money, and received assistance from another Chinese citizen, Jian Wen, who was sentenced to six years and eight months for crimes last year. The UK Crown Prosecution Service stated that this case highlights the enormous scale of criminal proceeds. This conviction is the outcome of years of investigation, and prosecutors are working to prevent fraudsters from accessing the proceeds, with many victims having recovered some of their money through China's compensation scheme. Qian Zhimin is currently in custody awaiting trial, with sentencing dates yet to be determined.

CME Group CEO opposes granting Polymarket and Kalshi innovation exemptions, calling for fair competition.

Terry Duffy, the CEO of the Chicago Mercantile Exchange Group (CME Group), called for the creation of a fair competitive environment and opposed granting innovation exemptions to new market participants, Polymarket CEO Shayne Coplan and Kalshi co-founder Tarek Mansour. He stated that if the rules are different, established participants will be unable to compete. The Chicago Board Options Exchange (@CBOE) also expressed the same view: “I appreciate this innovation, but if there is an opportunity for greater success, we should all strive for it. We will all become excellent competitors and outstanding innovators. But we should not be stuck in old models.”

Wisconsin, USA proposes “Bitcoin Power” bill AB471

According to Bitcoin Laws, on September 29, Wisconsin, USA, proposed the “Bitcoin Power” bill AB471, which aims to exempt individuals and businesses from the requirements of obtaining a money transmission business license for the following activities: accepting payments, using self-custody wallets, running nodes, developing software, and participating in staking.

Turkey plans to allow regulators to freeze bank and cryptocurrency accounts.

According to Bloomberg, Turkey is preparing to grant its financial crime regulatory agency – the Financial Crimes Investigation Board (Masak) – greater powers to freeze and restrict access to bank accounts and cryptocurrency accounts as part of its efforts to combat money laundering and financial crime. Informed sources reveal that the proposed measures align with the anti-money laundering standards set by the Financial Action Task Force (FATF) and are expected to be implemented through a bill submitted to the parliament. If the new regulations are approved, Masak will have the authority to close accounts suspected of illegal use, impose transaction limits, suspend mobile banking accounts, and blacklist cryptocurrency addresses related to criminal activity.

The letter issued by the SEC to DoubleZero confirms that the 2Z token does not need to be registered as a security.

DoubleZero announced on platform X that the U.S. Securities and Exchange Commission (SEC) has issued a no-action letter regarding 2Z to DoubleZero. This document means that 2Z does not need to be registered as a class of “equity securities,” and the programmatic liquidity of 2Z on the DoubleZero network does not constitute a securities transaction. The no-action letter indicates that the SEC's Division of Corporation Finance has reviewed the programmatic distribution operations of the 2Z token and concluded: “Based on the facts presented, the Division will not recommend that the Commission take enforcement action.” For the DoubleZero project and its stakeholders, this letter means that the SEC will not recommend enforcement action regarding the liquidity of the 2Z token within the DoubleZero network.

U.S. CFTC Acting Chairman: The “turf war” with the SEC has ended, and both agencies are seeking to cooperate in the crypto space.

According to The Block, on Monday, Caroline Pham, acting chair of the U.S. Commodity Futures Trading Commission (CFTC), stated at a roundtable hosted jointly by the CFTC and SEC that the “territorial dispute between the two agencies is over.” For many years, the two agencies have been in conflict over the regulation of the cryptocurrency market, with former CFTC chairman Rostin Behnam believing that most digital assets are commodities, while former SEC chairman Gary Gensler claimed that most cryptocurrencies are securities. Pham pointed out that since both agencies oversee areas related to financial markets, the division of responsibilities is not always clear, leading to unnecessary friction and confusion for market participants. Although there have been rumors about a possible merger between the SEC and CFTC, SEC chairman Paul Atkins denied this, emphasizing that the focus should be on coordination and unity, and that any merger would be decided by Congress and the President; idle talk about restructuring the government would distract from significant opportunities. This roundtable will continue until Monday, with attendees including executives from Kalshi, Kraken, Polymarket, Robinhood Markets, Bank of America, and JPMorgan Chase.

opinion

Kraken CEO rebuts CME Group CEO: To achieve fairness, please work as hard as we did back in the day.

In response to CME Group CEO's opposition to granting Polymarket and Kalshi innovative exemptions and the call for fair competition, Kraken CEO Arjun Sethi rebutted, “For a long time, regulatory barriers have been monopolistic in nature, making it difficult to innovate from the start. In our case, the arduous process we went through to reach our current position has been equally painful. To achieve a fair competitive environment, I believe that to some extent, you should strive in the same direction as we did four years ago, eight years ago, or ten years ago.”

Caixin: Qian Zhimin only pleaded guilty to two charges, “the lawyer said that the rise in cryptocurrency indicates sufficient funds to repay investors,” which is thought-provoking.

Caixin published an article disclosing the details of the trial regarding the laundering of 60,000 Bitcoins, highlighting that the main culprit, Qian Zhimin, has pleaded guilty, and the cross-border recovery efforts are just beginning. The cooperation between Chinese and British judicial systems is facing more daunting challenges, and substantive justice is still on the way, as Qian Zhimin's guilty plea only pertains to two charges from the UK Crown Prosecution Service: obtaining criminal property (cryptocurrency) and possessing and transferring criminal property (cryptocurrency). Qian Zhimin's defense lawyer, Roger Sahota, has changed his stance from a not guilty defense to stating: “She pleads guilty today in hopes of bringing some comfort to the investors who have been waiting for compensation since 2017 and assures them that the significant rise in cryptocurrency value means there are sufficient funds to repay the losses,” but the message he aims to convey is somewhat intriguing.

Caixin: Hong Kong will be the first to implement a Hong Kong dollar stablecoin, and buying or transferring tokenized ETF shares or units will be exempt from stamp duty.

According to an exclusive interview with Caixin, Xu Zhengyu from the Hong Kong Financial Services and Treasury Bureau stated that the application for licenses for compliant stablecoins is progressing according to the original framework, with the first batch of licenses expected to be issued in early 2026 as scheduled. Hong Kong's regulatory positioning is very clear, which is to achieve a balance in three aspects: innovation, integration into the real economy, and risk control. The first implementation will be the Hong Kong dollar stablecoin. Regarding the issuance of a renminbi stablecoin in Hong Kong, Xu Zhengyu stated that from Hong Kong's perspective, the legal framework allows different fiat currencies to serve as the underlying benchmark for stablecoins, but currency carries sovereign intent and strategic considerations. Pegging to the renminbi must take into account national exchange rates and monetary policies, requiring a comprehensive assessment of the associated risks and benefits. In addition, the Hong Kong Inland Revenue Department has clearly stated that transactions or transfers of tokenized ETF shares or units on licensed digital asset trading platforms or other platforms in Hong Kong are exempt from stamp duty.

Bloomberg analyst: The probability of SOL ETF approval has risen to 100%

According to SolanaFloor, Bloomberg ETF analyst Eric Balchunas has raised the approval probability of the SOL ETF from 95% to 100%. He stated, “To be honest, the approval probability is really 100% now… The general listing standards have made the 19b-4 form meaningless. Now, only the S-1 form related matters remain, and the SOL ETF could be approved at any time.”

Project Updates

Holding at least 180 Binance Alpha points allows you to apply for 300 zkVerify token VFY airdrop.

Binance announced that Alpha is the first platform to launch the zkVerify (VFY) token, with Alpha trading starting at 19:30 Beijing time on September 30, 2025. During the event, users holding at least 180 Binance Alpha points can claim an airdrop of 300 VFY tokens, first come, first served.

UXLINK Releases Migration and Compensation Plan Details

According to the official announcement from UXLINK, in response to the recent security incident, the project team has launched a migration and compensation plan: Users who purchase and hold UXLINK (as of September 22, 2025, 10:55 AM Beijing time) will receive a 1:1 compensation. Users who purchase UXLINK between September 22, 2025, 10:55 AM and 1:40 PM will have their compensation calculated based on the difference between the purchase price and the time-weighted average price (TWAP) thereafter. The compensation funds will come from the stolen assets that have been frozen and returned. The migration plan for CEX users is being gradually initiated, and the on-chain migration portal will open on October 1.

The cryptocurrency department of Société Générale has deployed euro and dollar stablecoins on Uniswap and Morpho.

SG-FORGE, the digital asset subsidiary of Societe Generale, announced the official deployment of its euro stablecoin EURCV and US dollar stablecoin USDCV to the DeFi protocols Morpho and Uniswap within the Ethereum ecosystem. This move enables users to lend against cryptocurrencies (such as BTC, ETH) and tokenized funds as collateral on the Morpho platform, while also facilitating spot trading of stablecoins through Uniswap. Additionally, the asset management company MEV Capital will be responsible for overseeing the relevant vaults, setting collateral rules, and handling defaults. Market liquidity will be supported by the market maker Flowdesk to ensure smooth trading. Currently, the market capitalization of EURCV is approximately $66 million, while USDCV has a market cap of $32.2 million, which is still relatively small compared to market leaders like Circle's EURC ($260 million) and Tether's USDT ($174.8 billion).

Binance Alpha announces that the threshold for claiming the first phase airdrop of OpenEden (EDEN) is 170 Alpha points.

Binance Alpha becomes the first platform to launch OpenEden (EDEN), with Alpha trading starting at 17:00 Beijing time on September 30, 2025. Eligible Binance users can claim 50 EDEN tokens airdrop using Binance Alpha points within 24 hours after trading begins. The airdrop will be distributed in two phases: the first phase for the first 18 hours, where users holding at least 170 Alpha points can claim; the second phase for the last 6 hours, where users holding at least 150 Alpha points can participate, on a first-come, first-served basis.

Binance Alpha will launch Openverse Network (BTG)

According to the official announcement, Binance Alpha will launch Openverse Network (BTG) on October 2. Eligible users can claim the airdrop using Binance Alpha points on the Alpha activity page after trading begins. More details will be announced soon.

Binance Alpha and Binance Futures will launch DoubleZero (2Z)

According to the official announcement, Binance Alpha will launch and open trading for DoubleZero (2Z) on October 2, 2025, at 20:00 (UTC+8). In addition, the Binance Futures platform will launch the 2ZUSDT perpetual contract at 20:30 (UTC+8) on October 2, 2025, with a maximum leverage of up to 50 times. All eligible Binance users will receive an exclusive token airdrop from Binance. Eligible users need to claim the airdrop using Binance Alpha points through the Binance Alpha event page from 20:00 (UTC+8) on October 2, 2025, to 20:00 (UTC+8) on October 3, 2025. Users can access the Binance Alpha event page via the search function in the Binance App and click here for more information on how to use Binance Alpha points to claim the Alpha airdrop.

Phala Network plans to stop its parachain and migrate to Ethereum L2.

The decentralized off-chain computing infrastructure Phala Network announced that, as the Polkadot parachain slot for Phala will expire on November 20, 2025, a proposal has been submitted to stop this parachain and fully migrate to Ethereum L2, in line with Intel's roadmap (TDX+GPU confidential computing) and the broader EVM ecosystem.

important data

The address that deposited 50 million USD for the Plasma presale has sent all 54 million XPL to Binance.

According to MLM monitoring, 13 hours ago, the wallet address that deposited 50 million USD into the Plasma presale has sent all 54 million XPL tokens (approximately 63 million USD) to Binance.

Alameda Research received Bitcoin worth $57.18 million 8 hours ago.

According to Onchain Lens monitoring, Alameda Research received 500 bitcoins 8 hours ago, with a total value of approximately $57.18 million.

Ethereum spot ETF saw a total net inflow of $547 million yesterday, turning into a net inflow after five consecutive days of net outflows.

According to SoSoValue data, yesterday (Eastern Time September 29), the total net inflow of Ethereum spot ETFs was $547 million. The Ethereum spot ETF with the highest net inflow yesterday was Fidelity ETF FETH, with a single-day net inflow of $202 million, bringing FETH's historical total net inflow to $2.714 billion. Following that was Blackrock ETF ETHA, with a single-day net inflow of $154 million, currently ETHA's historical total net inflow stands at $13.312 billion. As of the time of writing, the total net asset value of Ethereum spot ETFs is $27.544 billion, and the ETF net asset ratio (as a percentage of Ethereum's total market capitalization) is 5.4%, with a historical cumulative net inflow of $13.672 billion.

The total net inflow of Bitcoin spot ETFs yesterday was $522 million, with only BlackRock's IBIT experiencing a net outflow.

According to SoSoValue data, yesterday (Eastern Time, September 29), the total net inflow of Bitcoin spot ETFs was $522 million. The Bitcoin spot ETF with the highest net inflow yesterday was Fidelity ( ETF FBTC, with a net inflow of $299 million, and the total historical net inflow of FBTC has reached $12.222 billion. Following that was the Ark Invest and 21Shares ETF ARKB, with a net inflow of $62.1817 million, and the total historical net inflow of ARKB has reached $2.166 billion. The Bitcoin spot ETF with the highest net outflow yesterday was Blackrock ( ETF IBIT, with a net outflow of $46.6416 million, and the total historical net inflow of IBIT has reached $60.772 billion. As of the time of writing, the total net asset value of Bitcoin spot ETFs is $150.408 billion, with an ETF net asset ratio (market value compared to total Bitcoin market value) of 6.61%, and the historical cumulative net inflow has reached $57.337 billion.

Two newly created wallets received a total of 30,354 ETH from FalconX and OKX, worth approximately $128 million.

According to Onchain Lens monitoring, two newly created wallets received a total of 30,354 ETH from FalconX and OKX, worth $127.95 million.

The suspected Bitmine address withdrew 25,369 ETH from FalconX, approximately 107 million USD.

According to on-chain analyst Yu Jin's monitoring, a new address withdrew 25,369 ETH (worth $107 million) from FalconX 2 hours ago. Judging by the accumulation method of ETH, this address is likely owned by Bitmine.

The market share of Binance altcoin futures trading volume reached a historical high of 82.3%.

According to CryptoQuant analyst maartunn's data, the trading volume of Binance's altcoin futures has reached a historical high of 82.3%. Compared to Bitcoin futures, traders clearly prefer altcoin trading, which may reflect their expectations of gaining greater advantages or potential profits in the altcoin market. For example, Aster (ASTR) surged by 250% last week. It is worth noting that even during the bull market in 2021, the trading volume of altcoins did not reach this level. During the “altcoin season” in May 2021, the highest proportion was only 76%. Currently, altcoins like XPL, ASTR, SOL, and PUMP are attracting a lot of attention, further indicating that market interest in altcoins is continuing to heat up.

Huang Licheng holds the largest ETH and XPL long positions on the Hyperliquid platform.

According to Yujing monitoring, Brother Ma Ji, Huang Licheng, currently holds the largest position of ETH and XPL long positions on the Hyperliquid platform. The specific position details are as follows: ETH long position: long 30,780 ETH, with a total value of approximately $128 million, opening price at $4278, liquidation price at $3815; XPL long position: long 26.55 million XPL, with a total value of approximately $29.9 million, opening price at $1.4, liquidation price at $0.67.

Financing/Merger

Andre Cronje's new crypto project Flying Tulip has completed a $200 million seed round financing with a $1 billion token valuation.

According to The Block, the new crypto project Flying Tulip, founded by DeFi veteran Andre Cronje, has completed a $200 million private seed funding round, aiming to create an on-chain exchange that spans the “entire DeFi space”—the system will cover spot trading, derivatives trading, lending, stablecoins, and insurance services. This $200 million financing was conducted in the form of a Simple Agreement for Future Tokens (SAFT), valuing the Flying Tulip token at a fully diluted valuation (FDV) of $1 billion. The financing started on August 14 and was completed within a month, without a single leading investor. Participants included Brevan Howard Digital, CoinFund, DWF Labs, FalconX, Hypersphere, Lemniscap, Nascent, Republic Digital, Selini, Sigil Fund, Susquehanna Crypto, Tioga Capital, and Virtuals Protocol, among others. Flying Tulip now plans to raise up to $800 million through a public sale of its FT tokens at the same $1 billion valuation. Cronje stated that the sale will take place on the Flying Tulip's own platform, rather than utilizing existing ICO platforms. A characteristic of this financing is the “on-chain redemption rights”, allowing investors to destroy FT tokens at any time to redeem the principal portion of their initial invested assets. Redemptions will be managed by audited smart contracts, with protections such as queues and rate limits in place to ensure solvency. If reserves are temporarily insufficient, requests will enter a transparent queue and be processed once funds are replenished. FT tokens cannot be transferred until the public sale is completed. Team members have no initial allocation, and their compensation will come from planned open market repurchases funded by protocol revenues, thus directly linking their upside potential to performance.

The decentralized AI agent infrastructure layer Talus Network has raised over $10 million in funding.

According to Decrypt, Talus Network has completed over $10 million in funding, receiving a new round of strategic support from the Sui Foundation and Walrus, along with participation from investors such as Polychain Capital. Talus Network is described as the infrastructure layer for decentralized AI agents, and this month its flagship application idol.fun has officially launched its public testnet. Talus has also released its white paper, which includes the tokenomics of the Talus network token US. The complete Idol.fun platform is expected to be released in the first quarter of 2026. The Talus team has also developed a decentralized artificial intelligence agent innovation framework called Nexus, allowing agent workflows to be fully hosted and defined on-chain.

Institutional Holdings

CMCC Global will launch the Sonic ecosystem fund Resonance Fund with a scale of 25 million USD.

Sonic Labs announced on its official blog that the blockchain venture capital firm CMCC Global plans to launch the Sonic Ecosystem Fund, Resonance Fund, with a scale of up to $25 million. The fund is dedicated to investing in groundbreaking protocols and founders that shape the Sonic ecosystem. It primarily focuses on high-growth opportunities in the DeFi and consumer-facing application sectors, with its core mission being to drive fee monetization models to become sustainable revenue streams for smart contract developers and accelerate their adoption. Additionally, the fund aims to enhance the liquidity of the Sonic ecosystem through strategic capital allocation. Its investment strategy is designed to capture value throughout the entire asset lifecycle, targeting early investments in emerging DeFi leading projects, as well as making strategic investments in high liquidity assets within the Sonic ecosystem.

Public company Applied DNA Sciences plans to raise up to $58 million through a private placement to initiate its BNB financial strategy.

According to Businesswire, biotechnology company Applied DNA Sciences, Inc. (NASDAQ: APDN) announced that it has received a commitment for a private investment in public equity (PIPE) led by institutional investors, with a maximum amount of up to $58 million to initiate a BNB-based digital asset financial strategy. The company has secured a total of $27 million in funding commitments through PIPE, which includes cash, stablecoins, and OBNB trust units. In the future, by exercising warrants, the company is also expected to obtain up to $31 million in additional investment, bringing the total fundraising amount to a maximum of $58 million. The PIPE transaction is expected to

Bit Digital, a treasury company for Ethereum, plans to raise $100 million by issuing convertible bonds.

According to The Block, Bit Digital, an Ethereum treasury company, announced on Monday that it has proposed to issue $100 million in convertible bonds to purchase more Ethereum. The net proceeds from this bond issuance will primarily be used to purchase Ethereum, and the company may also use it for general corporate purposes, including potential investments, acquisitions, and other business opportunities related to digital assets. Bit Digital has filed a preliminary prospectus with the U.S. Securities and Exchange Commission. Barclays Bank, Cantor, and B. Riley Securities are the main underwriters for this bond issuance. Since July, Bit Digital has not purchased a significant amount of Ethereum. The company has been accumulating and staking ETH since 2022.

Kazakhstan launches a national-level cryptocurrency reserve fund, with its first investment in BNB.

According to GOV.KZ, Kazakhstan has launched the “Alem Crypto Fund”, established by the Ministry of Artificial Intelligence and Digital Development, managed by Qazaqstan Venture Group, and registered in the AIFC. The fund is positioned for long-term allocation of digital assets and strategic reserves, which may be used for national-level savings in the future. Its strategic partner is Binance Kazakhstan, with the first investment being BNB, used for transaction processing, fee payments, and governance. Officials state that BNB has a market capitalization of over $138B. The fund aims to serve large investors and become the foundation of the digital national reserve.

The Bhutan government transferred 2011.23 BTC to a new wallet, equivalent to approximately 230 million USD.

According to Onchain Lens citing on-chain data, the Royal Government of Bhutan (Druk Holdings) has transferred 2011.23 BTC to a new wallet, worth approximately $230 million at the current price, indicating a possible intention to enter the exchange.

POAI plans to launch a digital asset repository centered around ATH, having secured two PIPE financings totaling approximately $344 million.

According to GlobeNewswire, Predictive Oncology (NASDAQ: POAI) announced two private placements (PIPE): a cash PIPE intended to issue approximately 66.67 million shares at a price of $0.7751 per share, raising approximately $51.7 million; and a Crypto PIPE priced in locked and unlocked Aethir (ATH) tokens, issuing pre-paid warrants with a nominal value of approximately $292.7 million. Both transactions are expected to be completed simultaneously on October 2. The company will build a digital asset portfolio using ATH and continue to purchase ATH in the secondary market; for each ATH purchased, the DCI Foundation will grant an additional 20% of tokens. Shareholders have approved a 1-for-15 reverse stock split effective September 30 (this letter.

Fitell announces the inclusion of PUMP into its company treasury, expanding its Solana asset strategy.

Fitell Corporation (NASDAQ: FTEL) plans to incorporate the PUMP token from the Solana ecosystem into the company's treasury, stating that it aligns with the already implemented Solana digital asset treasury strategy. Fitell noted that PUMP is supported by the token issuance from Pump.fun and on-chain transaction fee buybacks and burns, with a fixed supply and continuous burns to create deflationary pressure. The company is also evaluating the use of Solana in its business for loyalty and user interaction programs and considering the inclusion of USDC and Worldcoin to support related initiatives.

Strategy increased its holdings by approximately $22.1 million by adding 196 BTC last week.

Strategy purchased 196 BTC last week for approximately $22.1 million, with an average purchase price of about $113,048 per coin. According to the announcement, as of September 28, the company has accumulated a total of 640,031 BTC, with a total investment of approximately $47.35 billion and an average holding cost of about $73,983 per coin.

BitMine announces that it holds 2.65 million ETH with total assets of 11.6 billion USD.

According to PR Newswire, BitMine Immersion Technologies (BMNR) announced that it holds 2,650,900 ETH, 192 BTC, $436 million in cash, and other crypto assets and “moonshots”, totaling approximately $11.6 billion. The company claims this is the largest ETH vault in the world and the second-largest crypto vault, second only to the 639,835 BTC held by Strategy Inc (MSTR) (approximately $71 billion). BMNR's average daily trading volume over the past five days is about $2.6 billion, ranking 26th in U.S. stock trading. The company's goal is to increase its ETH holdings to 5%.