Crypto Industry News & Market Trends

U.S. Bank tests proprietary stablecoin in cross-border Stellar transaction

U.S. Bank, the fifth-largest commercial bank in the United States, has completed a live cross-border payment using its proprietary USBDC stablecoin on the Stellar blockchain.　　The pilot moved funds between U.S. Bank entities in North America and Europe, with USBDC issued and transferred on the public Stellar network. It also tested the stablecoin‘s minting, redemption, freezing and clawback functions while integrating with the bank’s existing risk, compliance and operations systems.　　The transaction validated U.S. Banks internally developed Digital Asset Platform, which connects tokenized assets with its traditional banking infrastructure, the bank said Wednesday. The Minneapolis, Minnesota-based bank is exploring additional uses including cross-border treasury operations, liquidity management and moving collateral onchain.　　The pilot builds on U.S. Banks broader push into digital assets. In October 2025, the bank established a dedicated Digital Assets and Money Movement unit focused on stablecoin issuance, crypto custody, asset tokenization and digital money movement.　　The countrys sixth-largest financial institution by assets, U.S. Bank has been testing custom stablecoin issuance on Stellar since at least November 2025, working alongside PwC and the Stellar Development Foundation.　　Related: Jack Dorseys Block seeks US trust bank charter for Bitcoin, stablecoin　　Banks deepen stablecoin push　　While American banks have pushed back against allowing stablecoin issuers and crypto platforms

09-10Industry

While Bitcoin Devs Debate Next Moves, IonQ Unveils Superion 256 Quantum Computer

In briefIonQ is taking orders for Superion 256, with customer deliveries scheduled for 2027.The company says electronics built into its chips will help it manufacture more systems at lower costs.Its first chips and prototypes mark progress, but IonQ has not disclosed results demonstrating a complete 256-qubit computers performance.　　Publicly traded tech company IonQ unveiled its Superion 256 quantum computer Tuesday, opening orders for a system it expects to deliver in 2027 as it works to expand production.　　The Maryland-based company builds quantum computers and offers access through cloud services. It also develops quantum networking, sensing, and security technology.　　Myriad: How high will Nvidia trade in Sept？ Click to make your prediction.　　“Superion is the result of two strategic acquisitions coming together to deliver this historic milestone,” IonQ Chairman and CEO Niccolo de Masi said in a statement. “Oxford Ionics enabled IonQ to control natural, trapped-ion qubits using standard electronics, and SkyWater unlocked the ability to manufacture at semiconductor costs and scale.”　　IonQ says its chipmaking subsidiary, SkyWater, has fabricated the first 256-qubit processors, and teams have trapped the first ions in prototypes at several U.S. facilities. A qubit is a quantum computers basic unit of information.　　An ordinary computer bit holds either a zero or a

09-10Industry

Bitcoin collateral, not trading volume, will signal real bank adoption: fintech veteran

Fintech veteran Wojciech Kaszycki has identified three tests for real bank adoption of Bitcoin: client custody balances, credit-funded spot trades and its use as loan collateral, following Standard Chartereds launch of deliverable BTC and ETH trading for eligible UAE institutions.　　SummaryStandard Chartered now offers institutional BTC/USD and ETH/USD trading through its existing electronic channels.Kaszycki said bank credit lines, custody, and back-office integration matter more than a familiar trading screen.Bitcoin-backed loans with published collateral haircuts would show that banks can price and manage the assets risk.Crypto-native venues may retain their advantage in weekend liquidity, derivatives, and trading outside banking hours.　　Standard Chartered has put Bitcoin trading on existing bank rails　　Standard Chartered said on Sept. 3 that eligible institutions can trade deliverable Bitcoin and Ether through its Dubai International Financial Centre branch, making it the first global systemically important bank to offer institutional digital asset spot trading in the UAE.　　The service supports BTC/USD and ETH/USD trades through the bank‘s existing electronic channels, including interfaces already used for foreign exchange. Clients can choose where their assets settle, either using Standard Chartered’s UAE custody platform or another custodian.　　As crypto.news previously reported, the bank introduced the UAE service more than a year after launching the same trading

09-10Industry

Trade groups seek to block Illinois crypto tax before January effective date

The Crypto Council for Innovation (CCI) and Blockchain Association (BA) are seeking to block Illinois from enforcing a 0.2% tax on cryptocurrency transactions before it takes effect in January 2027.　　The trade groups said Wednesday that they have filed a motion for a preliminary injunction in the Circuit Court of Sangamon County, Illinois to protect digital asset firms from suffering irreparable harm.　　“Companies are being asked to spend millions to build systems for a tax that violates their constitutional rights without answers to basic questions about what is taxed and when, all under the threat of criminal penalties,” said Ji Hun Kim, CCI CEO, in a statement. “These costs are being borne right now, against a Jan. 1 deadline, forcing companies to divert key resources and employees to a clearly unlawful tax.”　　The two groups last month filed a lawsuit challenging Illinois‘ digital asset tax on the grounds it violated the US Constitution, the state’s constitution, federal and state due process laws and the federal Internet Tax Freedom Act.　　Illinois Governor JB Pritzker signed the measure into law as a “privilege tax” in June as part of the states fiscal year 2027 budget, requiring crypto users to be taxed as applied to transaction volume

09-10Industry

Mexican Musician and Family Killed Over Bitcoin Cold Wallet Believed to Hold Millions

In briefProsecutors allege the suspects entered Meléndezs home searching for a cold wallet they believed held “million-dollar amounts in Bitcoin.”Meléndez, his pregnant wife, their three-year-old daughter and a domestic worker were killed. The couples six-year-old son survived.Two men have been arrested, with prosecutors alleging one offered the other 2 million pesos, or about $118,000, if they obtained the crypto.　　Mexican prosecutors allege two men targeted the home of Camilo Séptimo keyboardist Jonathan Meléndez in search of a cold wallet they believed contained millions of dollars in Bitcoin, killing the musician and three others.　　According to a report by IBTimes UK, Meléndez, his pregnant wife Ana Paula Barragán, their three-year-old daughter Sofía, and 21-year-old domestic worker Aleyda Romero were found dead at the family‘s home in Atizapán de Zaragoza, State of Mexico, on September 1. The couple’s six-year-old son survived.　　Myriad: Next round of Iran peace talks？ Click to make your prediction.　　State prosecutors said the suspects allegedly entered the home searching for a cold wallet they believed contained “million-dollar amounts in Bitcoin.”　　Authorities identified the suspects as Diego Sebastián and Gerardo, using “N” in place of their surnames in accordance with Mexican privacy rules for criminal proceedings. Diego Sebastián, a business associate of Meléndez, allegedly

09-10Industry

Hunter Bidens LAPTOP Meme Coin Implodes 98% in Just 90 Minutes

On Wednesday, the crypto community is discussing Hunter Bidens new meme coin as the launch has seen the coin drop from a high of $199 to an all-time low of $1.36 in 90 minutes following the release.　　Key TakeawaysLAPTOP got smoked 98% after launch, tumbling from $199 to just $1.36 in 90 minutes.Hunter Bidens LAPTOP still carries a $1.24B market cap despite $13.45M in trading volume.LAPTOPs thin order book leaves its next move anyones guess after a 98% wipeout.　　LAPTOP Meme Coin Crashes 98% as $199 High Vanishes in Minutes　　Hunter Bidens new meme coin, known as LAPTOP, is not having a great first day. At press time, it is 98% below its $199 all-time high and is currently coasting along at $2.54 per unit. At current prices it still has a $1.24 billion market cap and a fully diluted valuation of around $3.56 billion. So far, exchanges that have listed the new LAPTOP meme coin have clocked $13.45 million in trading volume since launch.　　The token is inspired by the Mac laptop he left at a Delaware repair shop in 2019 which caused all kinds of controversy during the 2020 election between Donald Trump and Hunters father, Joe Biden. The launch has caused

09-10Industry

Turkish Lira: Disinflation supports gradual TRY repricing – ING

ING analysts Muhammet Mercan, Frantisek Taborsky and James Wilson say normalising liquidity and a lower effective funding rate have pushed market pricing closer to their Central Bank of Turkey rate view for 2026. They highlight limited foreign inflows into TurkGBs and see USD/TRY at 52 by year-end and 63 by end-2027 as reserves recover.　　Lira outlook steady with carry support　　“The Central Bank of the Republic of Türkiye (CBRT) has lowered the effective funding rate from 40% to 37%, citing easing inflation risks, weaker domestic demand, and improving monetary transmission. Growth is slowing, inflation should fall below 30% this year, reserves have markedly recovered, and the CBT has resumed asset purchases while markets increasingly anticipate future rate cuts.”　　“Following the normalisation of liquidity conditions, the decline in the effective funding rate from 40% to 37%, and the easing of upside inflation risks, market pricing has gradually turned more dovish and moved closer to our forecast for this year. The CBT rate is now priced at 34.50% for year-end.”　　“However, the market remains sceptical that the central bank can sustain easing next year, pricing in only around 100bp of cuts. We see scope for further repricing if disinflation continues in this part of the curve.

09-10Industry

LDO buybacks: Why Lidos staking growth is not enough

Lido, the liquid-staking protocol, captured just 5.7% of Ethereums net staking growth in the first half of 2026. For holders of its LDO token, the business challenge is to turn a growing market into DAO income that can fund automated purchases.　　The gap is visible in NEST, Lidos automated buyback mechanism. At 00:00 UTC on Sept. 9, the contract that releases funds for purchases recorded a negative cumulative budget of about $517,024 and skipped an allocation. Its negative budget measured a deficit in calculated buyback capacity. Funding was already in place, while the rules required more cumulative surplus before a purchase could be financed.　　Institutional routing is one part of that business challenge. Lido‘s first-half report describes capital moving into segments where it captured less growth, while its current institutional offering includes a fee waiver that favors adoption over immediate income. ETH’s dollar price and the rewards earned on each staked coin also affect the outcome.　　A growing market, a smaller share　　Lidos H1 operating and financial report puts total staked ETH at 43.1 million at June 30, compared with 36.3 million at the start of the year. Lido added 386,000 ETH over the half, reaching 9.13 million ETH from a rounded opening balance

09-10Industry

RedStone prices $170M FalconX credit vault on 3 chains

RedStone has launched price feeds for a FalconX private-credit vault holding more than $170 million in exposure across Monad, Plume and MegaETH.　　SummaryRedStone distributes the FalconX vaults signed NAV from Ethereum to three additional networks.AA_FalconXUSDC holders can use supported tokens as collateral without first redeeming their positions.RedStone checks updates through signature verification, deviation limits, staleness rules, and circuit breakers.Permission requirements and thin secondary liquidity could still complicate liquidations during market stress.　　RedStone brings FalconX credit pricing to three chains　　In a statement shared with crypto.news, RedStone said it had integrated its pricing infrastructure with Paretos Credit Vaults, starting with a FalconX vault carrying more than $170 million in private-credit exposure.　　Through the vault, institutional investors deposit USDC to finance part of FalconXs prime brokerage business. Depositors receive AA_FalconXUSDC, a token representing the senior tranche of their position in the underlying credit portfolio.　　Interest earned by the vault accrues within the tokens net asset value, raising its redemption value over time. M11 Credit curates the product, underwrites FalconX, and monitors the credit exposure on an ongoing basis, according to the announcement.　　You might also like:　　RedStone brings instant exits to NYLIM tokenized fund　　RedStone reads the vaults NAV from its Ethereum contract and publishes the value through standardized feeds

09-10Industry

Gold: Inflation data key catalyst – TD Securities

TD Securities Ryan McKay and Bart Melek say Gold and broader precious metals have held firm despite higher near-term Fed hike probabilities. They stress that upcoming US inflation data will be pivotal for Fed pricing and discretionary flows, while structural supports such as Dollar-debasement themes, central bank buying and ETF demand suggest any hawkish shock may delay rather than derail the next leg higher.　　Fed pricing hinges on inflation print　　“Precious metals wait on inflation data.”　　“Precious metals have been able to maintain strength, even as the market grapples with the near-term increase in Fed hike probabilities.”　　“A stronger jobs report initially weighed on gold, but less hawkish Fedspeak and currency interventions then cooled the narrative, highlighting the market has an elevated sensitivity to incoming data and headlines.”　　“Inflation data is the next big catalyst, and an upside surprise would embolden Fed pricing and weigh on the yellow metal, while less worrisome inflation could ultimately be the first catalyst to see the next wave of discretionary positioning start to enter the market.”　　“With the precious metal landscape still broadly supported by the renewed dollar-debasement theme, elevated central bank buying and renewed ETF accumulation, a hawkish Fed may only postpone the timing of the next leg higher

09-10Industry