Important News from Last Night and This Morning (September 2nd-3rd)

Huoxun Finance reports that a major whale/institution has withdrawn another 5,100 ETH from OKX, bringing its total to 42,682 ETH since the end of August. According to on-chain analyst Yu Jin, the whale/institution that has been withdrawing large amounts of ETH from OKX since August 29th withdrew another 5,100 ETH ($22.02 million) from OKX 45 minutes ago through a single address. This whale/institution has withdrawn a total of 42,682 ETH ($188 million) from OKX over a five-day period since August 29th, using three addresses, at an average price of $4,403. Additionally, their address holds 80.8 million USDT withdrawn from OKX in July. The Rumble Bitcoin Wallet has officially launched testing. According to Bitcoin News, Chris Pavlovski, CEO of the video-sharing platform Rumble, confirmed that testing of the Rumble Bitcoin Wallet has officially begun and that he has successfully purchased Bitcoin using the wallet. Earlier news in July stated that Rumble would partner with MoonPay to launch the Rumble Wallet crypto wallet in Q3. Morgan Stanley disclosed that it purchased $188 million worth of Bitcoin ETFs in Q2. According to The Bitcoin Historian, Morgan Stanley, with $1.7 trillion in assets, disclosed that it purchased $188 million worth of Bitcoin ETFs in the second quarter. Two accounts affiliated with Abraxas Capital lost over $100 million from shorting cryptocurrencies. According to Arkham monitoring, two accounts affiliated with Abraxas Capital shorted over $919.9 million worth of cryptocurrencies on the Hyperliquid platform, including BTC, ETH, HYPE, and WLFI. Currently, these two accounts have lost over $106.6 million. The Bitcoin liquidation prices for these accounts were $151,530 and $149,910, respectively. Note: Abraxas Capital entities also hold over $2.49 billion worth of BTC and $486 million worth of ETH, positions with positive delta (i.e., net long, not net short). They may be engaging in funding rate mining on Hyperliquid. They may also hold other positions on Binance or CEX, but these positions are not viewable on-chain. Publicly listed CIMG Inc. completed a transaction in which it exchanged $55 million in common stock for 500 bitcoins. According to PR Newswire, CIMG Inc. (NASDAQ: IMG), a business group focused on digital health and sales expansion, announced that it completed its previously announced common stock sale on September 2, 2025, selling 220 million shares at a price of $0.25 per share, raising a total of $55 million in funds in exchange for 500 bitcoins. Wang Jianshuang, Chairman and CEO of CIMG, emphasized, "Looking ahead, the company plans to continue increasing its digital asset reserves and seek collaborations with AI and crypto ecosystems, such as MerlinChain." WLFI destroyed 47 million WLFI (US$11.34 million) from its unlocked treasury wallet six hours ago. According to on-chain analyst Ember, WLFI destroyed 47 million WLFI (US$11.34 million) from its unlocked treasury wallet six hours ago. Officials said this was to commemorate the buyback and burn governance proposal. Furthermore, after going live for trading the night before, they repurchased 6.498 million WLFI on-chain at an average price of US$0.308 using 2 million USD1. pump.fun launched its "Project Ascend" update, introducing dynamic fee version V1. pump.fun announced the launch of its "Project Ascend" update, which aims to improve the token's sustainability and strengthen its engagement with the community. Updates include: 1. A dynamic fee mechanism that increases creator earnings tenfold; 2. A tenfold increase in processing time for CTO creator fee requests. Pump.fun explained that Dynamic Fees V1 features a new tiered creator fee structure designed specifically for PumpSwap. Creator fees are tiered by market capitalization, meaning higher token market capitalization results in lower creator fees. Starknet: The network has fully resumed normal operations, and the chain has been rolled back to block height 1962681. Starknet announced on the X platform that it has fully resumed normal operations. Block production has returned to normal. Transactions submitted between 10:21 AM and 10:45 AM UTC were not processed, and the chain has been rolled back to block height 1962681. All transactions from that point forward must be resubmitted. A full incident review will be released soon, detailing the events, causes, and preventative measures. Last night, news broke that Starknet had experienced another outage, and engineers are working to address the issue. The Ethereum Foundation deposited 10,000 ETH (worth approximately $43.21 million) with Kraken four hours ago. According to OnchainLens, the Ethereum Foundation deposited 10,000 ETH (worth approximately $43.21 million) with Kraken for sale four hours ago as part of its ongoing efforts to fund research and development, grants, and donations. Previously, the Ethereum Foundation announced it would sell 10,000 ETH to fund research and development, grants, and donations. German digital asset custodian Tangany has secured €10 million in Series A funding. According to Crowdfundinsider, German digital asset custodian Tangany has secured €10 million in Series A funding, led by BaaderBank, Elevator Ventures/RaiffeisenBank International, and Heliad CryptoPartners, with continued support from HTGF and Nauta Capital. Tangany, regulated by Germany's securities regulator, Bafin, stated it is preparing for European expansion under the EU's MiCA rules. Tangany reports over €3 billion in assets under custody and serves over 700,000 accounts across more than 60 institutional clients. Tangany previously completed a €7 million seed round in 2020. VenusProtocol: The protocol has been fully restored and lost funds have been recovered. VenusProtocol, a lending protocol on BNBChain, stated on the X platform that as of 05:58 Beijing time, VenusProtocol had been fully restored (withdrawal and liquidation functions have been restarted); lost funds have been recovered under the protection of Venus. Yesterday, news broke that a VenusProtocol user on BNBChain mistakenly approved a malicious transaction, granting token permissions, resulting in the loss of $27 million in digital assets. VenusProtocol clarified that it had not been attacked, subsequently suspended services, and initiated an emergency vote to forcibly liquidate the attacker's positions. Coinbase will launch index futures trading that includes Nvidia and BlackRock's Bitcoin ETF. According to TheBlock, Coinbase said on Tuesday that it will launch an index futures trading that combines exposure to top stocks and cryptocurrency ETFs. The new product, called "Mag7+ Crypto Equity Index Futures," began trading on September 22nd, offering traders the opportunity to trade an index that blends leading tech stocks with BlackRock's spot Bitcoin and Ethereum ETFs. It also includes a balanced portfolio of Coinbase shares, as well as Apple, Microsoft, Google's parent company Alphabet, Amazon, Nvidia, Meta, and Tesla. The index will be equally weighted, with each of its ten constituents representing 10% of the index. The Ethereum Foundation announced plans to sell 10,000 ETH to fund research and development, grants, and donations. According to CoinDesk, the Ethereum Foundation announced on Tuesday on the X platform that it plans to sell 10,000 ETH through centralized exchanges in the coming weeks. The proceeds will be used to support research and development, ecosystem funding, and related donations. The ETH will be exchanged in multiple small orders, rather than single large transactions. Previously, the Ethereum Foundation announced new treasury policies in early June, capping annual operating expenses at 15%, establishing a multi-year reserve buffer, and establishing a long-term, gradual reduction schedule. The foundation sold an additional 10,000 ETH to SharpLink Gaming in July, making it the first publicly traded company to purchase ETH from the Ethereum Foundation. The US SEC and CFTC have teamed up to clear barriers to registered companies trading spot cryptocurrencies. According to CoinDesk, the US Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) stated in a joint statement that certain crypto assets can be traded if they obtain approval from the two US market regulators. The statement also stated that registered trading platforms can now conduct such business with the approval of the two agencies. Tuesday's statement also stated that the two agencies are working together to promote the trading of certain spot crypto asset products on registered exchanges. The two agencies believe that designated contract markets registered with the CFTC and national securities exchanges registered with the SEC can facilitate such trading and invited relevant entities to contact them to determine how to proceed. SEC Chairman Paul Atkins stated that market participants should have the freedom to choose their trading venues. CFTC Acting Chairwoman Caroline Pham stated that the statement highlights their shared goal of supporting the growth and development of these markets and will not be the last. Tuesday's statement did not mention specific cryptocurrencies, and the regulators stated that they are ready to communicate with trading venues on market principles. Spot gold broke through $3,510/ounce, reaching a new all-time high. Spot gold broke through the high of $3,508.7/ounce reached earlier today, rising above $3,510/ounce and reaching a new all-time high. Kraken and Backed partner to launch xStocks on Ethereum. According to CoinDesk, Kraken and Swiss firm Backed announced the launch of their tokenized stock product, xStocks, on the Ethereum mainnet. Users can deposit and withdraw xStocks on the Ethereum chain using ERC-20 tokens, enabling interoperability with DeFi protocols. xStocks has previously been launched on Solana, BNBChain, and TRON, with cumulative trading volume reaching $3.5 billion. The three major US stock indices opened sharply lower, with ZONE, which announced the establishment of a DOGE reserve, plummeting over 58%. At the US stock market opening, the Dow Jones Industrial Average fell 0.9%, the S&P 500 fell 1.2%, and the Nasdaq fell 1.7%. Star tech stocks fell across the board, with Nvidia (NVDA.O) down 2.6%, TSMC (TSM.N) down 2%, and Tesla (TSLA.O) down 1.9%. CleanCore Solutions (NYSE:ZONE), which announced a $175 million private placement to establish a DOGE reserve, opened over 58% lower at $2.71 per share. Tron Inc. received an additional $110 million investment from its controlling shareholder, increasing its TRX treasury to $220 million. According to GlobeNewswire, Tron Inc. (NASDAQ: TRON) announced that its controlling shareholder, Bravemorning Limited, invested an additional $110 million and exercised all warrants, adding 312,500,100 TRX to the company's treasury, bringing its total holdings to $220 million. Bravemorning's cumulative investment has reached $210 million, increasing its stake to 86.6%. Tron Inc. is now the largest holder of TRX in the public market and continues to advance its blockchain asset management strategy. Yunfeng Financial: Purchased 10,000 ETH, with a total investment cost of US$44 million. Yunfeng Financial announced that its board of directors has approved the purchase of ETH on the open market as a reserve asset. As of the date of this announcement, the group has purchased a total of 10,000 ETH on the open market, with a total investment cost (including fees and expenses) of US$44 million. The purchase was funded from the group's internal cash reserves, and the ETH purchased is reported as an investment asset in the group's financial statements. ETHZilla announced that $100 million in ETH will be re-collateralized with EtherFi. According to PRNewswire, ETHZilla (NASDAQ: ETHZ) announced plans to deploy approximately $100 million in ETH to the DeFi protocol EtherFi for re-collateralization, increasing its treasury yield and strengthening Ethereum security. The company currently holds 102,246 ETH, valued at approximately $456 million, at an average purchase price of US$3,948.72. Furthermore, ETHZilla has completed the cancellation of 1.318 million common shares held by Elray Resources, Inc. The company stated it will continue to advance DeFi integration and vault management innovation. Kite secured $18 million in funding led by PayPal and General Catalyst. According to Fortune, AI blockchain startup Kite announced the completion of an $18 million Series A funding round led by PayPal Ventures and General Catalyst, with participation from 8VC and Samsung Next. Kite aims to build blockchain infrastructure to support communication between AI applications, bringing its total funding to $33 million. Kite plans to use blockchain to provide identity authentication and trust mechanisms for AI agents, promoting their application in scenarios such as automated online shopping. SharpLink added 39,008 ETH, bringing its total holdings to 837,230. SharpLink announced the purchase of 39,008 ETH at an average price of approximately $4,531, bringing its total holdings to 837,230, valued at approximately $3.6 billion. During the same period, it raised $46.6 million through its ATM facilities, accumulated staking rewards of 2,318 ETH, and maintained over $71.6 million in cash. Strategy purchased an additional 4,048 BTC, bringing its total holdings to 636,505. Strategy (formerly MicroStrategy) purchased 4,048 Bitcoins for a total of $449.3 million between August 26 and September 1, bringing its total holdings to 636,505 BTC. BitMine announced its holdings: Total cryptocurrency and cash holdings reached $8.98 billion, including approximately 1.867 million ETH. According to PRNewswire, BitMine Immersion Technologies (BMNR) released its August investor presentation and a video featuring Chairman Tom Lee, revealing that as of August 31, its total cryptocurrency and cash holdings reached $8.98 billion, including 1,866,974 ETH (at $4,458 per coin), 192 BTC, and $635 million in cash. BitMine holds the world's largest ETH vault and the second-largest crypto asset vault, behind Strategy Inc. (MSTR). BitMine's institutional investors include ARK, Founders Fund, and Pantera. The company emphasizes that GENIUS Act and SEC Project Crypto will drive the long-term development of Ethereum, and related demonstrations and videos are now available on the official website. EtherMachine secured $654 million in private Ethereum funding, with investment from Jeffrey Berns. According to Reuters, EtherMachine announced that it had secured 150,000 Ethereum (approximately $654 million) through a private placement, invested by long-time supporter Jeffrey Berns, and will transfer the funds to the company's wallet this week. Berns will join the board of directors. The company, formed through the merger of EtherReserve and Dynamix Corporation, plans to list on the Nasdaq. It currently holds over 495,362 Ethereum (approximately $2.16 billion) and $367 million in funds. Citibank continues to lead a new $500 million round of funding. BGB has been upgraded to the Morph public chain token, with a one-time burn of 220 million. According to a Bitget announcement, Bitget will transfer all 440 million BGB held by the team to the Morph Foundation. Morph will burn 220 million BGB, leaving the remaining 220 million locked and unlocking 2% monthly for ecosystem incentives. BGB will become the gas and governance token of the Morph chain. The Morph Foundation will be responsible for BGB's future development and will update the BGB burn mechanism, reducing the target total supply to 100 million. The Morph mainnet launched in Q4 2024, with a peak TVL exceeding $150 million. Binance Alpha will list Tradoor (TRADOOR) on September 4th. Eligible users can claim the airdrop using Alpha points after trading opens on the event page. SonicStrategy Receives $40 Million Investment from SonicLabs. SonicStrategy announced that it has received a $40 million investment from SonicLabs (approximately $55 million CAD). This round of funding will be used to expand the team, advance product development, and accelerate market expansion. Sonic Labs stated that the investment aims to support SonicStrategy's innovative development in the Web3 space. BNC's BNB holdings have increased to 388,888, with a goal of reaching 1% of the supply by the end of the year. BNB Network Company (BNC, formerly CEA Industries) announced that it has increased its BNB holdings to 388,888, with a market capitalization of approximately $330 million, and plans to increase its holdings to 1% of the total BNB supply by the end of the year. Security agency: Venus Protocol users lost $27 million in a phishing attack. According to CyversAlerts, Venus Protocol's core pool, Comptroller, on the BNB chain was updated to a malicious contract address, resulting in the transfer of approximately $27 million in assets (including vUSDC, vETH, etc.). The stolen funds are currently held in the attacker's contract and have not yet been redeemed. CyversAlerts subsequently deleted the tweet. PeckShieldAlert reported that a VenusProtocol user approved a malicious transaction, granting token transfer permissions to the attacker's address (0x7fd8…202a), resulting in the theft of approximately $27 million in crypto assets. Cyvers later revised the claim to: A VenusProtocol user on BNBChain mistakenly approved a malicious transaction, granting token permissions, resulting in the loss of $27 million in digital assets. The stolen funds are currently held in the attacker's contract and have not yet been redeemed.