Renzo Finance launched Renzo Basis on Hyperliquid to automate spot and perpetual positions for funding-rate yield. The product initially supports BTC and HYPE. Renzo Protocol rebranded to Renzo Finance as it expanded beyond restaking into onchain structured yield products.
TRM Labs valuation doubles to $2 billion as AI business grows
TRM Labs says an add-on to its Series C has doubled its valuation to $2 billion. The company raised $70 million in a Series C round in September. That round valued TRM Labs at $1 billion. TRM Labs is rolling out an investigations platform for AI-related crime that it plans to announce publicly in November.
The Crypto Council for Innovation and Blockchain Association asked an Illinois state court to block the state's 0.2% digital asset tax before it takes effect. The groups argue that federal law preempted the tax. The tax is scheduled to take effect on Jan. 1, 2027.
Bessent challenges yen traders amid Bitcoin carry-trade risk
Treasury Secretary Scott Bessent challenged traders to bet against the Japanese yen. Bessent said he had direct insight into Japanese policy moves and stated, "I am the house now." Bloomberg reported that the most active dollar-yen option targeted a move to 142.86 by November. A stronger yen could increase repayment costs and trigger liquidations across risk assets including Bitcoin if the carry-trade unwind accelerates.
Germany draft law could end Bitcoin tax exemption after Dec. 31, 2026
Germany's finance ministry has drafted a law that could make Bitcoin and other crypto sales taxable after December 31, 2026. Under current rules, holding crypto for 12 months leaves profits untaxed. Earlier sales can face income tax of up to 42%. The proposal has not passed and would introduce a flat 25% withholding tax.
UK crime agency warns of launderers' innovative crypto use
Britain's National Economic Crime Centre warned that criminals are making innovative use of crypto-asset products to evade detection and move illicit value at scale. Cryptoassets rank third among nine economic crime priorities agreed with the Financial Conduct Authority, the Home Office and the Treasury. Operation Atlantic identified 20,000 approval-phishing victims. The operation froze $12 million in March.
U.S. Bank completed a live cross-border payment using its USBDC stablecoin. The transaction took place between U.S. Bank entities in North America and Europe. U.S. Bancorp plans to explore USBDC for cross-border treasury operations, liquidity management and collateral transfers.
Bitcoin holds near $78,500 as yen strength threatens risk assets
Bitcoin held near $78,500 on Sept. 8 as Japanese yen strength threatened global risk assets. The yen reached 152.89 per dollar before retreating to 154.14. Cross-border yen borrowing reached ¥360 trillion ($2.35 trillion) in March, according to Jefferies analysis of BIS data. A Bank of Japan meeting is scheduled for Sept. 17-18.
Malone Lam pleaded guilty to a federal racketeering conspiracy charge linked to the theft of $240 million in bitcoin from a Washington, D.C., resident. Lam faces a maximum prison sentence of 20 years. He is the 11th of 18 defendants in the case to plead guilty.
The Canary Staked TRX ETF will debut later Wednesday in the United States on Cboe under the ticker TRXS. The ETF's staking feature is intended to boost returns. Tron founder Justin Sun said the fund gives investors a new way to access the network.
Metaplanet stock pool sparks backlash as CEO addresses MMXX ties
Metaplanet's executive stock pool, designed as 20% of fully diluted shares, is drawing shareholder backlash over dilution concerns. Shareholders urged Metaplanet to freeze exercise rights tied to 273 million shares. Metaplanet CEO Simon Gerovich pledged to review governance and compensation policies. Gerovich also said he holds no executive role.
A network of cryptocurrency thieves was arrested after a $240,000,000 Bitcoin heist from a Washington, D.C., resident. The group stole more than 4,100 bitcoin on August 18, 2024. Several defendants have pleaded guilty.
India seeks takedowns of 15 crypto platforms over AML rules
India's Financial Intelligence Unit issued non-compliance notices to 15 crypto platforms under the Prevention of Money Laundering Act. The FIU also sought public access blocks for the platforms' applications and URLs. The action follows India's March 2023 expansion of anti-money laundering obligations for virtual asset service providers.
Bitcoin-gold correlation hits six-year high as institutions buy both
Bitcoin-gold correlation has hit a six-year high, Bitwise head of research Andre Dragosch said. Dragosch said institutions are buying both assets instead of choosing between them as debasement hedges. Bitcoin-related ETP flows have exceeded gold ETF flows. Dragosch said institutional demand is making the four-year cycle a secondary price driver.
Hyperion DeFi CEO calls Trump's Hyperliquid endorsement 'extremely positive'
Hyperion DeFi CEO Hyunsu Jung called Trump's endorsement of Hyperliquid "extremely positive." Hyperion DeFi holds roughly 1.93 million HYPE worth over $166 million. The company raised its full-year 2026 adjusted gross profit guidance to $7 million-$8 million. Hyperion DeFi also authorized a $20 million share repurchase program.
Malone Lam pleads guilty in more than $245 million crypto theft ring
Malone Lam pleaded guilty on Tuesday to a racketeering conspiracy that stole more than $245 million in cryptocurrency. Prosecutors say the enterprise operated from October 2023 through at least May 2025. The group developed through connections on online gaming platforms and used social engineering to access victims' wallets.
Peter Schiff urged investors to buy nickels instead of US Treasury bonds on the basis of a 7.76-cent melt value per coin. Federal law bans melting or exporting five-cent coins. A $10,000 nickel position weighs one metric ton.
Bitcoin rose as much as 1.6% to $79,742 as Brent crude topped $100 a barrel. Gold rose 1.06% while European and U.S. equity markets declined or were little changed. U.S. spot bitcoin ETFs recorded a $46.65 million net outflow on Tuesday, according to SoSoValue.
Analysis: Federal bank charters limit Washington's discretion but preserve oversight
The author argues that federal trust-bank charters can give crypto companies stronger legal protection for custody while preserving direct federal supervision. New rules limit reputation-based supervisory actions and restrictions on lawful businesses for political reasons. Trust banks still face approval conditions and may depend on other banks for cash.