CZ Advocates for a Crypto ‘Will Function’ to Secure Digital Assets
Changpeng Zhao, the founder of Binance, is calling on all cryptocurrency platforms to introduce a “will function.” This feature would enable users to pre-assign heirs and determine how their digital assets will be distributed in the event of their death.
Annually, more than $1 billion in cryptocurrency is lost on exchanges because users lack proper inheritance settings. CZ's initiative seeks to enhance the security of crypto assets, ensuring that they remain accessible not just for individuals but also for their loved ones.
Changpeng Zhao, the founder of Binance, is calling on all cryptocurrency platforms to introduce a “will function.” This feature would enable users to pre-assign heirs and determine how their digital assets will be distributed in the event of their death.
Annually, more than $1 billion in cryptocurrency is lost on exchanges because users lack proper inheritance settings. CZ's initiative seeks to enhance the security of crypto assets, ensuring that they remain accessible not just for individuals but also for their loved ones.
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Are Altcoin Exchange Flows Hinting at a Potential Rally?
Monthly exchange flows for altcoins, which include both deposits and withdrawals, have recently fallen to an average of
1.6
1.6billion, dippingbelowt heannualaverageof2.5 billion.
Historically, when exchange flows dropped below this $1.6 billion threshold (as indicated by the green zones), it has typically signaled an approaching major rally for altcoins.
Monthly exchange flows for altcoins, which include both deposits and withdrawals, have recently fallen to an average of
1.6
1.6billion, dippingbelowt heannualaverageof2.5 billion.
Historically, when exchange flows dropped below this $1.6 billion threshold (as indicated by the green zones), it has typically signaled an approaching major rally for altcoins.
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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?
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?
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📈 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.
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.
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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.
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.
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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.
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.
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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.
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.
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🚀 $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.”
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.”
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