Regulatory efforts increased institutional interest, paving the way for better integrations. Legislative efforts gained momentum as scenarios unfolded.
The headlines:
- Figure and Gemini’s IPOs are on the horizon;
- Kraken wants in on tokenized stocks;
- US Bancorp announced a crypto custody comeback;
- Coinbase wants AI bots to make up half of its software talent;
- Several candidates for California’s pension administration aren’t so sure about crypto investments;
- Plus, Stripe launched its stablecoin (More on that later);
- And much more!
As always, these are your decentralized diaries!
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Bitcoin is at $111k (as of 9/8/25)
Digital asset prices continued swinging as Bitcoin moved from a $107,271.18 low to a $113,367.48 high before settling at $111,185.63.
The altcoins also moved sideways.
Ethereum (ETH) is at $4,305.83, Solana (SOL) is at $207.57, Chainlink (LINK) is at $22.49, Avalanche (AVAX) is at $24.79, Hedera (HBAR) is at $0.2203, Polkadot (DOT) is at $4.04, and Uniswap (UNI) is at $9.42.
Blockchain lending firm Figure is preparing for a major IPO, aiming to raise $526 million. The offering includes 21.5 million new shares priced between $18 and $20, with an additional 4.9 million shares sold by existing shareholders.
Major investors include Apollo Global Management, 10T Holdings, Ribbit Capital, Goldman Sachs, Jefferies, and Bank of America.
Shares will trade on Nasdaq under the FIGR ticker.
Wyoming Chose Hedera Blockchain for its Stablecoin Deployment
The Wyoming Stable Token Commission selected Layer-1 blockchain Hedera as the infrastructure for its FRNT stablecoin. US dollars and short-term Treasuries back the FRNT token.
Furthermore, interest earned from the reserves will fund Wyoming’s School Foundation Program.
Circle’s USDC Token is Available on the Plume Network
A September 4 press release revealed Plume Network’s integration of the USDC stablecoin. Circle’s Cross-Chain Transfer Protocol (CCTP) V2 powers the deployment, improving institutional on-chain finance.
The setup enables seamless cross-chain transfers, making it easier for institutions to move assets across ecosystems.
Fireblocks Introduced Global Stablecoin Infrastructure
Premier blockchain ecosystem Fireblocks launched the Fireblocks Network for Payments. The firm designed the platform to streamline transactions.
Moreover, the new network connects local payment rails, blockchains, and stablecoin systems with liquidity providers, on-chain FX, and remittance capabilities.
Canton Network has a New Capital Markets-Focused Feature
Boutique Fintech Fairmint launched Observer Nodes on the Canton Network. The deployment brings real-time oversight and regulatory transparency to tokenized equity markets.
Regulators and authorized observers can monitor equity transactions without accessing personally identifiable information. The Observer Nodes are read-only, automated, and designed to flag suspicious activity.
Galaxy Brought Its Stocks to the Solana Blockchain
Premier blockchain firm Galaxy Digital tokenized its SEC-registered Class A shares on the Solana blockchain. The firm partnered with Superstate to ensure each on-chain transfer updates the official shareholder registry in real-time.
Twenty-one investors have (so far) tokenized a total of 32,374 shares via Superstate’s Opening Bell platform. The initiative targets institutional and professional traders who meet KYC requirements.
Gemini Announced Further IPO Revelations
The Winklevoss-owned crypto exchange Gemini unveiled details of its US IPO. Gemini aims to raise $317 million by offering 16.67 million Class A shares priced between $17 and $19.
The crypto exchange will list shares on the Nasdaq Global Select Market under the GEMI ticker symbol. Leading bookrunners include Goldman Sachs, Citigroup, Morgan Stanley, and Cantor.
US Bancorp Announced Bitcoin, Crypto Custody Plans
Financial behemoth US Bancorp revealed intentions to return to crypto custody services. In a September 3 Bloomberg interview, US Bank Vice Chair and Head of Wealth, Corporate, Commercial, and Institutional Banking (WCIB) at Stephen Philipson cited recent regulatory moves as a primary factor.
Philipson also indicated that the money titan was working with boutique asset management specialist NYIDG to achieve the goal.
FiscalNote Wants to Go All in on Crypto
In a September 2 announcement, niche tech firm FiscalNote revealed plans to use crypto tokens in its corporate treasury strategy. The initiative seeks to diversify FiscalNote’s balance sheet and mitigate its macroeconomic risks.
FiscalNote also intends to use the initiative as part of its overall hedging strategy.
The Aptos Network Has Integrations with 20 Blockchains
Premier blockchain Aptos has officially joined the NEAR Intents protocol. The move expands the reach of the Aptos ecosystem to a network of 20 interconnected blockchains.
NEAR Intents enables seamless transactions across chains with fees as low as $0.01 and finality in 1.2 seconds. Consequently, users can transact with 19 other blockchains using NEAR smart contracts as intermediaries.
Brian Armstrong Unveiled Bold Q3 Coinbase AI Coding Plans
In a September 3 Twitter/ X post, Coinbase CEO Brian Armstrong announced plans to have AI contribute up to 50% of the exchange’s codebase by October. According to Armstrong, AI already contributes to 40% of Coinbase’s total software engineering output.
His targets come as tech firms increasingly look to AI for previously manual coding tasks.
The Fed Announced an October Conference
America’s central bank revealed its upcoming payments innovation conference on September 3. The Federal Reserve Board will host the conference on October 21.
Additionally, several crypto-focused technologies will feature at the event, including tokenization, stablecoins, and DeFi.
California Pension Board Candidates Remain Divided on Crypto Exposure
The candidates of the Golden State’s pension administration board expressed divergent opinions over CalPERS’ digital asset investment plans. On September 3, during the CalPERS 2025 member-at-large board election event, candidates had alternate opinions about including crypto tokens in the pension board’s $500 billion portfolio.
CalPERS owns 410,596 Strategy shares, offering limited access to the crypto markets.
Stripe Revealed its Blockchain
On September 4, Stripe CEO Patrick Collison introduced Tempo, its transaction-focused blockchain. Stripe teamed up with crypto venture specialist Paradigm to launch Tempo.
The duo developed Tempo to scale stablecoin transactions.
The SEC Wants to Introduce New Crypto Rules
On September 4, the SEC unveiled its spring 2025 regulatory agenda. The framework proposed significant changes to digital asset governance.
Furthermore, the plan includes 20 rule proposals aimed at easing enforcement restrictions. The SEC also wants to modernize custody regulations under the Investment Advisers Act of 1940.
There’s a New Crypto Draft Bill in the Senate
A new draft bill circulating in the Senate could be a pivotal framework for regulating digital asset markets. The legislation introduces detailed provisions, including legal protections for developers.
Additionally, the bill calls for a joint study by the SEC and CFTC to explore tokenization pathways.
Digital Asset ETFs Moved Slower
Crypto ETFs remained calm. The SEC delayed its final verdict on the 21Shares Spot SUI ETF. On September 4, Grayscale introduced the Grayscale Ethereum Covered Call ETF (ETCO).
In a governance vote, members of the Sonic (formerly Fantom) blockchain voted to allocate $50 million for a crypto ETF. On the other end, Coinbase unveiled plans to launch the Mag7 + Crypto Equity Index Futures on September 22.
Furthermore, the offering combines several tech stocks —Apple, Microsoft, Alphabet, Amazon, Nvidia, Meta, and Tesla — with the iShares Bitcoin Trust (IBIT) ETF and the iShares Ethereum Trust (ETHA) ETF, alongside Coinbase (COIN) shares.
