gm 09/10

Summary
gm, S&P Global announced the launch of the Digital Markets 50 Index, which will track 15 cryptocurrencies and 35 crypto-related equities, marking substantial integration of digital assets into traditional finance. Meanwhile, the Bank of North Dakota partnered with Fiserv to create "Roughrider Coin," a USD-backed stablecoin set to launch in 2026, representing growing state-level interest in blockchain-based finance. Institutional engagement continued to strengthen as Bitcoin ETFs attracted $876 million in inflows despite price fluctuations, while Square (Block Inc.) unveiled new tools allowing merchants to accept Bitcoin payments with zero fees through 2026. These developments occurred against a backdrop of moderate volatility, with Bitcoin steadying around $122,000 after reaching its recent all-time high, and BNB showing remarkable resilience with a 27% weekly gain.

News Headlines
🔄 Bitcoin Sells Off, But Derivatives Data Points to $150K by Year's End

• Bitcoin corrected 4.2% from its all-time high of $126,219, but derivatives data suggests market sentiment remains positive with healthy demand for long positions.
• Institutional adoption continues to strengthen with over $3.5 billion in weekly ETF inflows, pushing total assets under management to $195.2 billion, reinforcing Bitcoin's status as digital gold.

📈 Solana's $2.8B Revenue Outpaces Ethereum's Early Growth

• According to a 21Shares report, Solana generated $2.85 billion in revenue over the past year, primarily from trading platforms which contributed $1.12 billion of the total.
• Solana's monthly revenue averaged $240 million, with a peak of $616 million in January during the memecoin boom, and has since stabilized between $150-250 million monthly.

🚨 5 Crypto Scams Every Investor Should Watch Out for in 2025

• Advanced phishing attacks now specifically target crypto wallets using techniques like wallet drainers, quishing, and spear phishing to steal sensitive information and assets.
• Rug pulls continue to plague the crypto ecosystem with nearly $6 billion lost in early 2025, while AI-powered deepfake scams are creating highly realistic videos to deceive users.

🏦 BitGo Secures VARA License Amid Regulatory Crackdown

• BitGo has obtained regulatory approval from Dubai's Virtual Assets Regulatory Authority (VARA) to provide digital asset trading and intermediation services for institutional clients.
• This approval comes amidst a broader regulatory crackdown where VARA penalized 19 other crypto companies for unlicensed activities, highlighting the increasing regulatory scrutiny in the region.

🏛️ Bank of England To Soften Stablecoin Cap Plans Amid Industry Pushback

• The Bank of England is reconsidering its initial proposal to impose caps of £20,000 for individuals and £10 million for companies on stablecoin holdings after significant industry backlash.
• The BOE may now introduce exemptions for firms needing larger reserves, reflecting the competitive landscape where the U.S. is moving toward clearer regulations.

Market Metrics

Fundraising & VC
1. Coinflow (Series A, $25M) - Payment infrastructure provider
2. TransCrypts (Seed, $15M) - Blockchain-based digital records and credential verification platform

Regulatory
⚖️ UK Lifts Ban on Crypto Exchange-Traded Notes

• The UK has ended its four-year ban on crypto exchange-traded notes (ETNs), citing industry maturation and improved understanding of digital assets.
• Retail investors can now access crypto ETNs through FCA-approved exchanges, with these products becoming eligible for inclusion in retirement funds and Stocks & Shares ISAs starting April 2026.

💰 Square Launches Bitcoin Payments for Merchants

• Square has introduced a feature allowing U.S. merchants to accept Bitcoin at checkout and store it in an integrated wallet, with no processing fees through 2026.
• This move aligns with Jack Dorsey's commitment to Bitcoin adoption, targeting Square's network of over 4 million merchants amid projected 82% growth in crypto payment use between 2024-2026.

🏦 North Dakota to Launch State-Backed Stablecoin

• The Bank of North Dakota is partnering with Fiserv to launch "Roughrider Coin," a U.S. dollar-backed stablecoin set to debut in 2026.
• Built on Fiserv's blockchain-based FIUSD platform, the stablecoin aims to enhance efficiency within the state's banking system and follows Wyoming's introduction of a similar state-backed digital currency.

🗽 Coinbase Gains Approval for Crypto Staking in New York

• Coinbase has launched crypto staking services in New York after receiving regulatory approval, allowing residents to stake assets like Ethereum, Solana, and Cosmos.
• The company credits Governor Hochul's administration for the breakthrough, which marks a significant shift in one of the country's most tightly regulated crypto markets.

🌐 Stratiphy Partners With 21Shares for UK Crypto ETNs

• Wealth management app Stratiphy has partnered with 21Shares to provide UK retail investors access to crypto Exchange Traded Notes following new FCA regulations.
• The collaboration will make Stratiphy the first UK wealth manager to list 21Shares' physically-backed Bitcoin and Ethereum ETNs, integrating crypto exposure with traditional assets.

Technical Analysis
Bitcoin - Bitcoin is within an approximate horizontal trend channel in the short term. This indicates that investors are uncertain and waiting for signals of further direction. A break upwards will be a positive signal, while a break downwards will be a negative signal. The currency has support at points 117800 and resistance at points 123500. RSI is above 70 after a good price increase the past weeks. The currency has strong positive momentum and further increase is indicated. However, particularly for big stocks, high RSI may be a sign that the stock is overbought and that there is a chance of a reaction downwards. The RSI curve shows a rising trend, which is an early signal of a possible trend reversal upwards for the price as well. The currency is overall assessed as technically neutral for the short term.

Ethereum - Ethereum is within an approximate horizontal trend channel in the short term. This indicates that investors are uncertain and waiting for signals of further direction. A break upwards will be a positive signal, while a break downwards will be a negative signal. The currency is between support at points 4300 and resistance at points 4750. A definitive break through of one of these levels predicts the new direction. The currency is assessed as technically neutral for the short term.