❗️ Strategy stopped buying Bitcoin. The flywheel runs backward

📊 Four weeks without adding a coin, two of them spent selling, a $1.25 billion sale authorization on file, and stock sales now funding a cash pile instead of Bitcoin. The most influential machine in crypto has shifted into reverse, and the entire treasury sector is watching its own future run at MicroStrategy speed.

⭐️ For five years, the most reliable event in crypto was not the halving or the Fed meeting. It was Michael Saylor’s Sunday night chart. The orange dots, the coy caption, the Monday 8-K, another tranche of Bitcoin added to the largest corporate stack on earth: 108 purchases, 843,775 coins, a ritual so dependable that traders built indicators around it and dozens of companies built entire business models by imitation.

🔗 The ritual has stopped. Strategy has now gone four consecutive weeks without adding a single Bitcoin, its longest fallow stretch in two years, and the composition of those weeks is the story: two of them were spent selling, 3,588 BTC liquidated for roughly $216 million to pay preferred dividends, under a standing authorization to sell up to $1.25 billion more. The company is still raising hundreds of millions weekly through stock sales, and the money now flows to a $3.2 billion cash reserve instead of coins.

⚠️ Hyperliquid, Multicoin back CFTC prediction market rules

➡️ The Hyperliquid Policy Center and Multicoin Capital have filed a joint comment supporting the Commodity Futures Trading Commission’s proposed prediction-market framework. The groups said written federal standards would help operators design event contracts and reduce policy swings between administrations. The CFTC proposed amendments to Regulation 40.11 in June after an earlier consultation. Its three-step test would ask whether a product is an event contract, whether it involves a listed activity and whether trading would conflict with the public interest.

📣 The plan does not ban every contract connected to those subjects. The CFTC would review products case by case during a process lasting up to 90 days. Chairman Michael Selig called it a “durable, transparent framework,” although the Commission may change the text before adopting a final rule.

🔖 Hyperliquid Policy Center and Multicoin said “clear rules beat guesswork.” They argued that standards written into regulations would offer more certainty than policies based mainly on staff interpretation. Their filing presents an industry position and does not resolve current legal disputes.

🔖 Ondo Finance weighs a $500 million acquisition as tokenized securities cross $36 billion

➡️ The largest tokenized securities platform cleared its SEC probe, secured FINRA authorization, and put BlackRock’s IVV onchain. Now it is shopping for a target worth up to half a billion dollars while the market it helped build outgrows it.

📣 Ondo Finance spent the first half of 2026 clearing every regulatory hurdle that has historically killed tokenization platforms. It closed an SEC investigation without charges. It secured FINRA authorization for tokenized equities. It put BlackRock’s flagship ETF onchain under a framework the SEC itself endorsed. And now, with $2.5 billion in assets under management and a market that has tripled in eighteen months, it is looking to spend up to half a billion dollars on an acquisition that would transform it from a tokenization protocol into something closer to a financial conglomerate.

❗️ The acquisition report, first published by CoinDesk on July 30, described Ondo as exploring targets in wealthtech and adjacent sectors valued between $250 million and $500 million. The company’s response was carefully calibrated: “We are not in conversations with any party at this time.” The denial did not say the exploration was not happening. It said no specific target had been engaged. The ONDO token rose approximately 6% on the news, a move that valued the company’s circulating supply at roughly $1.5 billion.

🔔 BitMEX spent two years seeking buyer before shutdown

❗️ BitMEX reportedly spent two years seeking a buyer before deciding to close the crypto derivatives exchange, as founder control, declining activity and legal baggage deterred potential acquirers. BitMEX explored a sale with several potential acquirers over approximately two years but failed to secure an agreement, CoinDesk reported, citing a person familiar with the private discussions.

⚠️ According to CoinDesk’s source, the structure concerned at least one prospective buyer and made negotiations more difficult. Acquirers often reserve part of a transaction’s consideration for current managers, giving executives an incentive to remain with the business after a takeover.

⭐️ BitMEX was said to be seeking a valuation of approximately $1 billion. However, it remains unclear whether any interested company submitted a formal bid. The reported sale attempt ended without a deal before BitMEX’s parent company, HDR Global Trading, completed a strategic review and approved the exchange’s closure.

➡️ GnosisDAO approves Gnosis Chain’s move to Ethereum L2

🔖 GnosisDAO approved GIP 153 on Aug. 19, authorizing Gnosis Chain to transition from a standalone layer one network into a ZK proven Ethereum Economic Zone rollup. The final vote recorded 123,158 GNO in favor, 115 GNO against and 151 GNO abstaining across 54 voters, according to a Gnosis Chain announcement. Total participation reached 123,425 GNO, well above the required quorum of 75,000 GNO.

📣 The decision gives Gnosis developers a mandate to begin designing the change. It does not immediately convert the chain into a layer two network. The initial version is scheduled around the end of 2026 or beginning of 2027, subject to the required technology being ready. Gnosis Chain currently operates its own proof of stake consensus system and validator set. Following the transition, the network will publish proofs and settle transactions on Ethereum, relying on Ethereum validators for settlement security.

‼️ GIP 153 described the current model as difficult to sustain because fee revenue covers only a small part of the chain’s security costs. According to the proposal’s authors, Gnosis issuance dilutes people who do not stake by approximately 2.3% annually, while the DAO also supports infrastructure and liquidity incentives. Those assessments come from the proposal’s authors and should not be treated as independent financial findings. However, the vote establishes that GNO holders accepted the strategic direction and authorized work on a different security model.

⚠️ Binance founders used ‘The Simpsons’ codenames, former employees share

📣 Former Binance employees say CZ and Yi He used Homer and Marge Simpson codenames in internal communications. According to former employees familiar with the practice, the pair followed the company’s long-running association with the colour yellow by adopting the names of television’s most famous yellow couple — Homer and Marge Simpson.

📊 The choice was particularly fitting given that CZ and Yi are not only Binance co-founders but also long-time romantic partners. Their personal relationship was kept largely out of the public eye for years, despite the pair working together closely as they built Binance into the world’s largest cryptocurrency exchange.

⚠️ Yellow has long been one of the defining colours associated with Binance, appearing prominently throughout its branding and visual communications. Against that backdrop, The Simpsons — perhaps the world’s most instantly recognisable yellow family — provided an obvious source of inspiration for an informal internal naming convention. According to the former employees, the connection was understood internally, turning Homer and Marge into playful alter egos for the company’s two co-founders.

📊 Bitcoin adds $4.6B as onchain liquidity rebounds

🔖 Bitcoin’s realized capitalization increased by more than $4.6 billion during the week ending Aug. 30, according to CryptoQuant contributor Darkfost. The increase accompanied BTC’s sharp recovery from around $63,000 earlier in August to above $80,000. Darkfost described the increase as the strongest short-term realized-cap movement since the current bear market began. However, the analyst warned that the 30-day average growth rate remained just 0.4%, meaning the data does not yet confirm a sustained liquidity expansion.

➡️ Realized capitalization values each Bitcoin at the price recorded when it last moved onchain. This differs from standard market capitalization, which values the entire circulating supply at the latest market price. When older coins move at higher prices, realized cap generally increases. Analysts often interpret that change as capital entering the market because coins are transferring to buyers with higher cost bases.

✨ The latest $4.6 billion increase followed an extended period of declining or weak realized-cap growth. Darkfost said the reversal suggests incoming liquidity helped support Bitcoin’s recent price advance. The analyst nevertheless stopped short of identifying the move as a confirmed market regime change. “This move still needs confirmation,” Darkfost said, pointing to the modest 30-day growth rate.

➡️ Ethereum price targets $2,550 if key EMA holds

❗️ Ethereum price fell below $2,400 on Sept. 2 as renewed fighting between the United States and Iran pushed oil and Treasury yields higher, weakening demand for risk assets. According to data from cryptonews, Ethereum price traded near $2,372 at the time of writing, down about 1.9% on the day after reaching an intraday low of $2,356. The latest decline extended a pullback from the Aug. 27–28 highs near $2,510.

📊 ETH has now lost about 5.5% from the upper end of that range. Sellers also pushed the token through the $2,400 psychological level, which had limited several declines during the previous two weeks. The 4-hour chart shows that Ethereum formed a series of lower highs after its final attempt to regain $2,500 on Aug. 31. Selling accelerated on Sept. 2, with the latest 4-hour candle opening near $2,418 before falling as low as $2,356.

🌐 The decline has not erased Ethereum’s broader August recovery. ETH remains above the daily 20-day simple moving average at $2,299, as well as its 50-day, 100-day, and 200-day averages at approximately $2,054, $1,903, and $2,030, respectively.