Is Bitcoin Still Considered Part of the Crypto Market?
Bitcoin (BTC) has charted its own course, with recent data indicating that it no longer moves in tandem with the broader cryptocurrency market.

As altcoins face challenges and stagnation, BTC maintains its dominance, displaying price movements that align more closely with macroeconomic trends and institutional investments rather than the buzz surrounding meme coins or DeFi hype.

This decoupling prompts an important inquiry:

Is Bitcoin still part of the “crypto” ecosystem, or has it evolved into a distinct asset class?

📈 Tether Reaches 450 Million Users with a $160 Billion Market Cap
Tether has experienced remarkable growth since 2020:

🔹 User Base: Increased by 160 times, skyrocketing from 2.8 million to 450 million.

🔹 Market Capitalization: Soared 34 times, climbing from
4.7
b
14.8billiontoastaggering1.1 trillion.

With its market cap hitting an all-time high of $160 billion, USDT solidifies its position as the world’s leading stablecoin.

Bitcoin ETF Outflows, Ethereum Inflows, and a Significant BTC Short Position
Yesterday, spot Bitcoin ETFs experienced a notable outflow of $131 million, indicating renewed selling pressure on BTC.

In contrast, Ethereum ETFs saw a robust inflow of $296 million, marking their 12th consecutive day of gains.

On Hyperliquid, a substantial
142
m
,currentlyreflectinganunrealizedlossof12.5 million.

The liquidation price for this position stands at $127,017.

As volatility ramps up, it’s clear that major investors are making bold moves in the market.

FTX to Disburse an Additional $2 Billion in Compensation on September 30
FTX has announced its plans to distribute an additional
2
b
14.7billionand16.5 billion to creditors. All distributions will be conducted in USD and stablecoins, with amounts determined based on asset valuations at the time of the company's bankruptcy filing in 2022.

Washington, DC Attorney General Sues Athena Bitcoin Over Alleged Scams
The Attorney General of Washington, DC has filed a lawsuit against Athena Bitcoin, accusing the company of imposing hidden fees of up to 26% on transactions it knew were associated with scams. The lawsuit also highlights a no-refund policy that disproportionately affected victims, particularly seniors.

According to the complaint, a staggering 93% of deposits made through Athena's machines over a five-month period were tied to fraudulent activities. This situation allegedly allowed scammers to thrive while Athena benefited financially.

🚀 $500 Million Investment in Solana
Helius Medical Technologies (HSDT), previously a medtech company, has successfully raised
500
mSolana(SOL).Thedealincludesoptionsthatcouldincreasethetotalraiseto1.25 billion. The funds will be allocated for spot purchases, staking, and investments in decentralized finance (DeFi) within the Solana ecosystem.

The announcement resulted in HSDT's stock skyrocketing by over 500% during intraday trading.

Prominent investors in this venture include Pantera Capital, Animoca, Galaxy Digital, Arrington, HashKey, and others. Dan Morehead from Pantera referred to Solana as “the blockchain of the next financial generation.”

💼 Tether Unveils Portion of Its Investment Portfolio
Tether's CEO, Paolo Ardoino, has disclosed that the company has already invested in over 120 firms, with plans for this number to continue rising. Notably, all investments are sourced from Tether's profits, which are projected to reach $13.7 billion in 2024, rather than from USDT or other stablecoin reserves.

This strategy underscores Tether's expanding ambitions beyond stablecoins as it seeks to establish itself as a significant player in the wider crypto and fintech landscape.

David Bailey Aims to Propel Bitcoin to $10 Million!
David Bailey, a Bitcoin adviser to Trump, is embarking on an ambitious plan to raise a $200 million political action committee (PAC) to advocate for Bitcoin's interests in U.S. politics.

One of the primary objectives? To drive Bitcoin's value to $10 million and establish long-term policies that favor the cryptocurrency.

Bailey, who is the founder of Bitcoin Magazine and Nakamoto Holdings, intends for the PAC to focus on initiatives such as tax incentives for Bitcoin, safeguarding self-custody rights, funding Bitcoin education, and even allowing repayment of foreign debt in BTC. However, some critics caution that intertwining corporate treasury funds with political lobbying could lead to shareholder lawsuits.

The rise of crypto PACs is evident, with crypto firms spending over $134 million on elections in 2024 alone. Bitcoin's influence in the political arena is undoubtedly growing.

🚀 Ethereum Eyes $25K: Standard Chartered Forecasts Bullish Growth

📈 Standard Chartered Bank has raised its long-term price outlook for Ethereum (ETH), projecting it could hit $25,000 by 2028. The forecast reflects rising institutional demand, improved regulatory clarity, and broader adoption of decentralized finance (DeFi). On August 13, the bank updated its year-end 2025 estimate from $4,000 to $7,500, signaling strong near-term optimism.

Geoff Kendrick, head of digital assets research at Standard Chartered, commented:
"We project that the stablecoin sector will grow by around 8x by end-2028, which would significantly impact Ethereum network fees."
This surge in stablecoin activity is expected to increase ETH demand, as most stablecoins are minted and transacted on Ethereum.

📊 The bank’s long-term outlook also factors in Ethereum’s Layer 1 blockchain scaling for high-value transactions. Kendrick envisions Ethereum treasury holdings potentially