Binance cut ETH reserves by over 30,000 in September, shifting $130M into BTC holdings, signaling profit-taking and market rebalancing.
HashKey plans a $500M open-ended multi-currency DAT fund, aiming to boost ETH and BTC ecosystem adoption across Asia.
Ethena eyes Hyperliquid’s USDH issuance, challenging rivals for lucrative rights as USDe expands in the $280B stablecoin market.
BINANCE REDUCES ETHEREUM RESERVES BY OVER 30,000 ETH IN SEPTEMBER
Binance reduced its Ethereum reserves in September, with holdings dropping from 30,475 ETH in August to just 113 ETH by early September. At ETH’s current price of $4,300, this cut is worth about $130.5 million. Meanwhile, Binance increased its Bitcoin holdings by 3,779 BTC, bringing total holdings to 21,256 BTC valued at $419 million.
Binance’s continued ETH sell-off, seen earlier in June, may reflect liquidity rebalancing or profit-taking.
HASHKEY PLANS TO LAUNCH ASIA’S LARGEST MULTI-CURRENCY DAT ECOSYSTEM FUND
HashKey Group announced plans to launch Asia’s largest multi-currency DAT ecosystem fund with a $500 million fundraising target. The fund will focus on DAT-related projects in the Ethereum and Bitcoin ecosystems and adopt an open-ended structure allowing regular subscriptions and redemptions.
The $500 million fund shows growing institutional interest in ETH and BTC ecosystems. Its open-ended setup offers flexibility for investors in volatile markets. If executed well, it could boost adoption of decentralized autonomous treasury strategies in Asia, though regulatory clarity — especially with Hong Kong’s 2026 Basel rules — remains critical.
ETHENA LABS HINTS AT JOINING USDH STABLECOIN ISSUANCE COMPETITION
Ethena Labs, issuer of USDe (the third-largest USD stablecoin), hinted at competing for Hyperliquid’s USDH issuance rights. In a playful note to Hyperliquid’s co-founder, Ethena mentioned sending proposals last year. Hyperliquid set September 10 as the proposal deadline and September 14 for validator voting.
Ethena’s interest highlights ambition to expand beyond its $3.3 billion USDe. With Hyperliquid generating $106.4 million in August revenue, USDH rights are lucrative but contested — with rivals like Agora, backed by Rain and LayerZero. Ethena’s delta-neutral model could provide stability, but winning validator support and regulatory challenges will shape its chances in the $280 billion stablecoin market.
〈CoinRank Crypto Digest (9/08)｜Ethena Labs Hints at Joining USDH Stablecoin Issuance Race〉這篇文章最早發佈於《CoinRank》。
