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Ondo urges 2 US regulators to bring stock perpetuals onshore
Edgen Crypto·Sep 02 2026, 16:59Share to
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[1] Ondo urges SEC, CFTC to bring US stock perpetuals onshore (https://cointelegraph.com/news/ondo-urges-sec ...)[2] North Korean hackers are moving tens of millions on Hyperliquid as Trump pushes to onshore the crypto platform - CoinDesk (https://www.coindesk.com/business/2026/08/31/ ...)
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Sep 02 2026, 17:05
Altcoin liquidations hit $369.67M as oil surge fuels Fed hike bets
Over 90,000 leveraged crypto positions were liquidated totaling $369.67 million on Sept. 2, CoinGlass data shows, as oil and Treasury yield surges fueled Fed rate hike expectations. Fed Chairman Kevin Warsh signaled last week the central bank is uncomfortable with the current pace of inflation, remarks traders read as pointing to a rate hike this month. Brent crude climbed more than 5 percent to about $95 a barrel after fresh U.S. strikes on Iranian targets, while the 10-year Treasury yield rose to roughly 4.8 percent, its highest level since January 2025. XRP, Ethereum, and Solana came under the heaviest selling pressure. Ethereum dropped under $2,400, while Bitcoin briefly fell below $77,000 before recovering toward $78,000. Watcher.Guru reported roughly $100 million was liquidated within 60 minutes during the sharpest leg of the decline. The S&P 500 fell 0.71 percent and the Nasdaq dropped about 1 percent as the risk-off move extended across asset classes. The cascade shows how macro repricing now dominates crypto price action. Higher yields raise the opportunity cost of holding non-yielding assets such as Bitcoin, while a stronger inflation backdrop reduces expectations for easier monetary policy. The same forces that pressured the Nasdaq and other growth assets Tuesday are now flowing directly into crypto derivatives markets, where leveraged longs are the first to be flushed out when liquidity tightens. Spot Bitcoin ETFs attracted roughly $217 million on Aug. 31, reversing the prior session's outflow. BlackRock's IBIT accounted for $205.9 million of the total, following a nine-session buying streak that brought about $3 billion into Bitcoin funds during August. That institutional demand helped BTC gain roughly 24 percent last month, briefly pushing it above $81,000 before momentum cooled near $78,500. The divergence between ETF inflows and spot price weakness highlights a structural tension. While long-dated institutional buyers continue accumulating through funds, the derivatives market is repricing rapidly as macro conditions deteriorate. Higher energy costs feed directly into inflation expectations, and if the Fed responds with a hike, the opportunity cost of holding crypto rises further, potentially extending the deleveraging cycle. Traders now watch whether the Fed follows through on a rate increase at its September meeting. If Brent stays near $95 and Treasury yields remain elevated, ETF demand may not be enough to absorb further macro shocks, leaving leveraged positions across XRP, Ethereum, and Solana vulnerable to additional forced selling. This article is for informational purposes only and does not constitute investment advice.
Sep 02 2026, 17:01
Bitcoin slides below $77K as bond sell-off dents onchain demand
Bitcoin fell 1.02 percent to $76,800 on Sept. 2, breaking below $77,000 as a bond and equities sell-off pushed onchain demand negative. Darkfost, a pseudonymous analyst who tracks Bitcoin onchain flows, said the apparent demand metric reversed again after a brief recovery in August, with profit-taking by short-term holders — investors who acquired BTC within the past 155 days — outpacing new buying interest. The analyst cautioned that if demand does not recover soon, Bitcoin could face another leg down, potentially revisiting price ranges not seen in recent weeks. The onchain apparent demand metric estimates the net change in Bitcoin holdings among long-term investors. A negative reading indicates that selling pressure from short-term holders is exceeding new accumulation, often pointing to weakening market momentum. The latest reading follows a period in August when Bitcoin rebounded roughly 30 percent from its lows, though spot volume during that recovery hit a three-year low, according to data cited by BitcoinWorld. Notably, the number of Bitcoin wallets holding at least $1 million surged by 11,636 in August as large holders returned, yet that accumulation has not been enough to offset short-term selling pressure. The macro backdrop is dominated by a bond market sell-off that has pushed yields higher and pressured equities, creating risk-off conditions that typically weigh on speculative assets. Rising bond yields threaten to push up US borrowing costs, according to analysts cited by MSN. Bitcoin, which has increasingly traded in correlation with risk assets, has not been immune to this dynamic. Bitcoin's total market capitalization stands at $2.68 trillion, down 1.05 percent in the past 24 hours, while BTC dominance sits at 57.35 percent, according to CryptoRank data. Ethereum dominance is 10.84 percent. Total 24-hour spot volume across the market reached $33.3 billion, down 2.91 percent. For traders, the key question is whether Bitcoin can hold its current support zone near $77,000 and whether the apparent demand metric shows signs of improvement in the coming days. A sustained recovery in demand could indicate that selling pressure is exhausting, while continued negative readings might confirm a deeper correction. Onchain metrics should be weighed alongside technical analysis, trading volumes, and macroeconomic data releases that could influence liquidity conditions. This article is for informational purposes only and does not constitute investment advice.
Sep 02 2026, 15:34
Wyoming adds Chainlink reserve verification to FRNT stablecoin after $7.2B migration
Wyoming is handing Chainlink a second job on its state-issued stablecoin, moving the Frontier Stable Token beyond cross-chain transfers and into the verification of the assets that back it. The Wyoming Stable Token Commission said it has adopted Chainlink Proof of Reserve to publish near-real-time, onchain confirmation that FRNT's reserves match its token supply, a step that follows the token's August migration from LayerZero to Chainlink's Cross-Chain Interoperability Protocol. "We are using Chainlink Proof of Reserve as our exclusive onchain asset verification infrastructure to confirm that FRNT is fully backed by high-quality reserve assets," Anthony Apollo, executive director of the Wyoming Stable Token Commission, said in a statement. Under the setup, The Network Firm audits FRNT's reserves and token supply under AICPA standards, while Chainlink Proof of Reserve publishes the verified data onchain in near real time. Wyoming said the arrangement narrows the information gap between reporting periods and complements transparency standards under the GENIUS Act by pairing independent examinations with automated onchain checks. The commission is also adopting Chainlink Proof of Reserve Secure Mint, which would block new token creation unless verified reserves meet or exceed FRNT's total supply, a control aimed at reducing the risk of infinite-mint attacks. FRNT, which launched in January as the first stable token issued by a US state, is backed by US dollars and short-term Treasuries, with reserve income flowing into Wyoming's School Foundation Program. Its market capitalization sits below $1 million, and the token remains live across eight blockchains: Arbitrum, Avalanche, Base, Ethereum, Hedera, Optimism, Polygon and Solana. ## A precedent beyond the token's size The expansion deepens Chainlink's footprint in public-sector digital assets after Wyoming became the first US government entity to swap blockchain infrastructure on security grounds. The commission said its August decision followed a security review that flagged concerns about LayerZero's operational security and disclosure practices, and it named Chainlink CCIP the sole system meeting its requirements. Chainlink's security model routes each transfer through multiple independent operators, with at least 16 node operators validating transactions under a SOC 2 Type 2-certified protocol. The state's move is part of a wider shift toward Chainlink's interoperability tools. The commission said more than $7.2 billion in onchain value has migrated from LayerZero to CCIP, a figure Crypto Briefing put closer to $15 billion across announced infrastructure changes. Chainlink co-founder Sergey Nazarov framed Wyoming's selection as evidence that governments need infrastructure built for scale, noting the underlying oracle network has facilitated more than $33 trillion in transaction value. For LINK, the token that powers Chainlink's network, the state contract extends its utility from cross-chain messaging into reserve attestation — a use case other state and institutional issuers may copy as they weigh transparent backing. Wyoming's choice also pressures LayerZero, which lost a government reference client on stated security grounds even though FRNT's volume is negligible. The commission has not published the full security review or a deprecation schedule for legacy LayerZero contracts, and future notices are expected to clarify how those routes will be retired. This article is for informational purposes only and does not constitute investment advice.