Finance and Business News page 14

Before the open, only one of today's stories describes money that has actually changed hands — the rest describe positioning, custody and process. Before the open, only one of today's stories describes money that has actually changed hands — the rest describe positioning, custody and process.

Analysts point to the company's $6.69 billion cash reserve and 4% share of Bitcoin supply as a growing influence on price direction Bitfinex has flagged Strategy as one of the most important variables shaping Bitcoin's near-term price direction.

The fund, ticker BSOL, also recorded its highest trading volume as investor interest in staked Solana exposure grows. Bitwise's Solana Staking ETF has crossed $1 billion in total inflows, according to CryptoBriefing. The milestone marks a significant point for a fund that gives investors exposure to Solana alongside staking rewards through a traditional exchange-traded product.

Draft guidelines could pave the way for regulated Bitcoin and Ether exchange-traded funds in Thailand. Thailand's Securities and Exchange Commission has released draft guidelines covering cryptocurrency exchange-traded funds. The regulator is now inviting public feedback before finalizing any rules. The proposal specifically references products tied to Bitcoin and Ether, according to reporting on the draft.

A sharp jump in network activity has renewed debate over XRP's short-term price direction. XRP's network activity has jumped sharply, with active addresses rising more than 650% according to data cited by CoinGape and Finbold. The increase marks one of the more notable on-chain shifts reported for the token in recent weeks.

Jeremy Allaire points to near-total stablecoin dominance in emerging AI-to-AI transaction protocol x402 Circle's chief executive Jeremy Allaire has drawn attention to USDC's near-total control of payments flowing through x402, a protocol designed to let artificial intelligence agents pay one another without human intervention.

The pilot, run under the Monetary Authority of Singapore's BLOOM initiative, tests whether stablecoins can settle payments beyond standard business days. Visa and Nium are testing stablecoin settlement that operates beyond the limits of standard business days, according to reports from Fintech News Singapore and crypto.news.

State authorities are examining whether a data exposure tied to the Hugging Face platform implicates OpenAI's security practices. Alabama's state government has launched a probe into OpenAI, according to reporting from Daily Sabah Business.

Washington widens its sanctions net after accusing a broker network of using digital assets to move oil proceeds for Iran. U.S. regulators have broadened sanctions tied to an alleged scheme that used cryptocurrency to settle more than $100 million in Iranian oil payments.

Prosecutors allege the scheme used digital asset investments to defraud victims out of tens of millions of dollars. A business owner based in Las Vegas is facing a potential maximum sentence of 280 years in prison. The case centers on an alleged cryptocurrency Ponzi scheme that prosecutors say defrauded investors of roughly $24 million.

The asset manager's OnChain US Government Liquidity Fund will become available through HashKey Exchange as tokenized finance expands in the region. Franklin Templeton has agreed to work with HashKey Exchange to bring a tokenized money market fund to investors in Asia.

The exchange now allows XRPL-based transfers for its Singapore customers, expanding regional access to the token. Gemini has switched on support for XRP deposits and withdrawals using the XRP Ledger, or XRPL, for customers in Singapore.

Blockchain analytics firm traces funds across 30 sanctioned wallets tied to the Iranian entity TRM Labs has traced $16.8 million in cryptocurrency flows connected to the Mabna Institute, an Iranian entity under U.S. sanctions. The firm's research shows the funds moved through addresses dating back to 2018.

The industry group warns that broad identification requirements could otherwise sweep in nearly every stablecoin transaction. The Blockchain Association, a Washington-based crypto industry group, has called for stablecoin identification rules to carve out peer-to-peer transfers. The group argues that requiring identity checks on wallet-to-wallet transactions would extend far beyond the intent of existing anti-money-laundering frameworks.

Bitcoin's rally toward $80,000 has pushed a key momentum indicator into territory traders often treat as a warning sign. Bitcoin's price has surged toward $80,000, extending a rally that has drawn fresh attention from traders and analysts.

Both assets rallied together in August, with sources differing on whether gold's gain marks its best month since 1999 or simply its best in decades. Bitcoin traded above $81,000 this week, extending a rally that has unfolded alongside a historic surge in gold prices.

The crypto trade group says stablecoin-specific rules would fit better than generic bank-style customer checks. The Blockchain Association, a Washington-based trade group representing crypto companies, has called on the U.S. Treasury to write know-your-customer rules tailored to stablecoin issuers. The group argues that generic, bank-modeled KYC standards do not fit how stablecoins actually operate.

A wave of short liquidations and renewed exchange-traded fund demand pushed the largest cryptocurrency to its biggest weekly gain in three years. Bitcoin climbed back above $80,000 on August 24, according to Coinfomania, marking its first close at that level in 113 days.