Intel Report 18/9

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Analyst Note
For the time being, our intelligence will be delivered through a report-based newsletter, combining LLM systems with human analysis to deliver value-packed web3 reports. Free users can enjoy a lite version, while paid subscribers get full access to daily and seasonal reports. Thank you for your support! - Adam, Lead Researcher.

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Summary

GM, Tether's USDT reached a milestone by surpassing $1 billion in circulation on the TON chain. Circle expanded USDC access in Brazil and Mexico, integrating with local payment systems. Meanwhile, institutional interest grew as DBS Bank announced plans to launch crypto options trading, and BlackRock partnered with Microsoft to create a $30 billion AI investment fund. These events highlight increasing mainstream adoption and integration of cryptocurrencies with traditional finance and emerging technologies.

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News Headlines

🔍 Kraken Denies SEC Claims, Argues Digital Assets Aren't Securities

• Kraken formally denies SEC allegations regarding the classification of certain digital assets as securities.

• The exchange asserts that assets like Solana and Cardano do not meet the SEC's legal definition of securities.

• This denial is part of Kraken's ongoing legal battle with the SEC over regulatory compliance.

📊 Tether USDT Market Cap Hits $118B, Dominates 75% of Stablecoin Market

• Tether's USDT stablecoin achieves a market capitalization of $118 billion.

• USDT now holds a dominant 75% share of the entire stablecoin market.

• This milestone follows two years of growth, increasing from 55% market share in 2022.

🏦 Fed Rate Decision Looms, Bitcoin Poised for Volatility

• Bitcoin's price uncertainty ranges from $53,000 to $65,000 ahead of the Fed's rate decision on September 18.

• Analysts indicate a 62% chance of a 50 basis point cut, which has already contributed to Bitcoin touching $60,000 recently.

• Historical precedents caution investors, as past cuts have sometimes led to economic recession.

🌊 Ripple Chairman Moves 50 Million XRP After 11 Years

• Ripple chairman Chris Larsen transfers 50 million XRP, valued at approximately $29.12 million, to an unknown wallet.

• This marks his first significant move since the wallet was created in February 2013.

• Speculation surrounds the motives behind this transfer, with theories linking it to political support.

💱 DBS Bank to Launch Bitcoin and Ethereum Options Trading

• Singapore's DBS Bank announces upcoming launch of OTC options trading for Bitcoin and Ethereum.

• This initiative aims to engage with the growing digital asset space and cater to institutional clients.

• DBS claims to be the first Asian-headquartered bank to offer financial products linked to Bitcoin and Ethereum prices.

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Market Metrics

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Fundraising & VC
1. The Open Network (Private Token Sale, $30M) - L1 proof-of-stake
2. Capstone Technology Group (Undisclosed, $5.45M) - VC Fund
3. Vana (Strategic, $5M) - Analytics platform
4. CUDIS (Undisclosed, $5M) - Wearable DePIN and wellness AI
5. Filament (Seed, $1.10M) - DEX