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➡️ Kazakhstan's National Bank Plans Cryptocurrency Reserve 💡 The National Bank of Kazakhstan is considering the establishment of a cryptocurrency reserve as part of its institutional strategy. Timur Suleimenov, the bank's chairman, emphasized that the reserve's formation would be based on international practices, starting with expropriated cryptocurrencies and mined assets from state-participating companies. 🔍 Local reports reveal that the National Bank is thoroughly studying the formation and management of this reserve, including its development through the bank's affiliate. Suleimenov assured that the national crypto reserve would adhere to principles of accounting and management transparency while ensuring asset safety. 🌍 Although specific strategies for acquiring digital assets were not detailed, Suleimenov indicated that the bank would likely follow international practices. This approach would resemble that of the U.S., which accumulates cryptocurrency assets without directly using taxpayer funds. He also stressed the importance of centralizing asset management due to potential security threats. 📈 Suleimenov mentioned that additional methods for expanding the reserve could be developed by state institutions or through new legislation. In May, Kazakhstan introduced a series of legislative amendments aimed at regulating cryptocurrency activities. The country has shown a willingness to embrace crypto-based public initiatives, including plans for a national stablecoin and tokenization of digital assets.

🚀 Coinbase Hits Record High Amid Positive Crypto Legislation Sentiment 📈 Coinbase, the leading cryptocurrency exchange in the U.S., recently achieved a record high of $382 before closing at $369.21, marking a 43% increase year-to-date. This surge is largely attributed to optimism surrounding upcoming crypto legislation that could soon be enacted. ➡️ The GENIUS Act, which aims to establish a framework for stablecoins, was passed by the U.S. Senate on June 17 and is now pending a vote in the House. Additionally, the Digital Asset Market CLARITY Act of 2025, which seeks to clarify regulatory jurisdiction for crypto assets, may also be voted on shortly. The successful passage of these bills would significantly benefit Coinbase, as it is not only the largest crypto exchange in the country but also the main distributor of USDC, the second-largest stablecoin globally.

🚨 Strategy’s Bitcoin-Backed Securities Reach $3.3B, Can It Beat Gold ETFs? 🟠 👉 Read more

➡️ Coinbase's Role in US Secret Service Operation Against "Pig Butchering" Scams 💰 Coinbase has played a significant role in a recent law enforcement operation led by the U.S. Secret Service (USSS), which resulted in the seizure of $225 million in USDT linked to "pig butchering" scams. These scams typically start with fraudulent romantic or business relationships and have caused substantial financial losses for victims. 🔍 In late 2023, Tether froze 39 wallet addresses associated with the stolen funds, leading the USSS to trace the assets back to 140 accounts on the OKX exchange. Coinbase assisted the USSS by analyzing on-chain transactions and identifying over 130 customers who were unknowingly defrauded, totaling $2.3 million in losses. 📢 The USSS has launched a public campaign to return the seized funds to victims, allowing them to submit claims through the FBI Internet Crime Complaint Center. Coinbase has offered guidance to help customers access their transaction histories and has collaborated closely with law enforcement to facilitate the restitution process. 🔥 Additionally, Tether burned the frozen USDT and issued new tokens to a USSS-controlled wallet for distribution to verified victims.

➡️ Canaan Inc. Partners with Luxor Technology for Bitcoin Mining Financing 💰 Canaan Inc. has teamed up with Luxor Technology Corporation to offer financing options for bitcoin mining equipment. This partnership kicked off with a deal that allowed an unnamed U.S. institutional miner to acquire over 5,000 Avalon A15 Pro rigs in August. 🔗 The agreement enables Luxor to provide its mining clients with non-dilutive financing at competitive rates and low collateral requirements. This initiative aims to make it easier for institutional operators to purchase equipment while aligning hardware supply with expected revenue and cash flow from mining activities. ⚡️ The Avalon A15 Pro is Canaan's latest application-specific integrated circuit (ASIC) model, designed for maximum terahash output per energy unit. Canaan emphasizes that the A15 Pro's efficiency and uptime are crucial for large-scale miners to manage power costs and remain competitive during market fluctuations.

By partnering with Luxor, we are not only expanding institutional adoption of our A15 Pro series, but also enabling miners to scale responsibly

said Nangeng Zhang, Canaan's Chairman and CEO. The collaboration aligns with Canaan's broader strategy of leveraging ASIC design, self-mining, and bitcoin treasury management for long-term growth. 💼 Luxor, recognized for its mining pool and infrastructure services, is expanding its financial offerings to provide Canaan's customers with more funding options for equipment purchases.

We think it’s important that Canaan’s customers have more financing options

stated Matthew Williams, Luxor’s head of financial services. He added that the firm aims to assist miners in expanding their operations and navigating industry cycles more effectively. ➡️ Both companies suggested that the August purchase could lead to further sales under this new financing program. However, they did not disclose details regarding pricing, the identity of the counterparty, or specific financing terms, other than describing the structures as flexible and tailored for institutional use.

🏛 SEC Delays Decision On Staking For BlackRock’s Ethereum ETF 🌐 👉 Read more

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💰 Bitmine Immersion Tech Expands Ethereum Holdings 🔍 Recent reports and on-chain activity reveal that Bitmine Immersion Tech, a prominent ether treasury firm, has acquired over 46,000 ethereum from Bitgo. This acquisition brings Bitmine's total ethereum holdings to over 2.12 million ETH, valued at approximately $9.24 billion. 📊 The discovery was made by the Onchain Lens account on the social platform X, which stated,

Bitmine (BitMNR) has received 46,255 ETH, valued at $201M, from Bitgo. They now hold a total of 2,126,018 ETH, worth $9.24B.

Additionally, Arkham Intelligence's on-chain explorer identified three ethereum addresses linked to this transaction. 🏆 Prior to this acquisition, Bitmine's reported balance was 2.07 million ETH valued at $9.1 billion. With the new additions, Bitmine solidifies its position as the largest ETH treasury firm, significantly outpacing its closest competitor, Sharplink (Nasdaq: SBET), which manages 837,230 ETH. 📈 Currently, approximately 17 public entities collectively hold over 3.8 million ETH, representing 3.14% of the total supply. While bitcoin treasury firms have slowed their accumulation pace, strategies involving alternative crypto assets are gaining traction. As of Thursday morning, BMNR shares have risen by over 7% against the dollar.

📈 Bitcoin Derivatives Activity Heats Up as Open Interest Nears Cycle Highs ➡️ On Sunday afternoon, Bitcoin traded around $115,685, with significant activity in futures and options markets. The total open interest (OI) for Bitcoin futures is close to cycle highs at mid-$80 billion, led by CME with $16.73 billion (20.08% share). Binance follows with $14.70 billion, while Bybit holds $10.15 billion. Other notable venues include Gate at $8.69 billion and OKX at $4.53 billion. 📊 Options data shows a similar trend, dominated by Deribit. The total open interest for Bitcoin options is around low-$50 billion, with calls making up 59.97% and puts at 40.03%. However, the last 24 hours saw a slight shift towards defensive positioning with puts accounting for 52.76% of volume.

the path of maximum discomfort keeps magnetizing spot to the $110K–$115K pocket unless and until a fresh catalyst knocks it loose

📉 Max pain levels align with this positioning, indicating that near-dated expiries are around $115,000 and the quarterly Sept. 26 expiry is closer to $110,000. This suggests that unless a new catalyst emerges, Bitcoin's price is likely to remain within the $110K–$115K range. 🔗 Overall, the derivatives market is heavily loaded with CME and Binance in close competition. Options traders are leaning bullish but are also well-hedged. If Bitcoin continues to approach six-digit levels, significant price movements can be expected leading up to the September 26 expiry.