Hello there,
It’s Friday, and what a week it’s been for crypto. Coinbase CEO Brian Armstrong showed up in Washington, DC, pushing for long-awaited market structure legislation to be passed for the crypto industry. He says the Digital Asset Market Clarity Act has gained rare bipartisan support, setting the stage for long-awaited U.S. regulation.
Meanwhile, former Binance CEO CZ has raised red flags about North Korean cyber threats, Bitwise is chasing fresh ETF approvals, and American Express dipped into NFTs. Throw in Fed debates, bridge exploits, and stablecoin battles, and now you see why it’s been a headline-packed week.
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Coinbase CEO Hails Senate’s Bipartisan Backing of Crypto Regulation Bill
I was in DC the last few days working to get MARKET STRUCTURE legislation passed for crypto. This is how we ensure the crypto industry can be built here in America, driving innovation and protecting consumers, and making sure we never have another Gary Gensler trying to take your… pic.twitter.com/UqCH8jCNU8
— Brian Armstrong (@brian_armstrong) September 18, 2025
Coinbase CEO Brian Armstrong says the U.S. Digital Asset Market Clarity Act has gained strong bipartisan backing in the Senate, calling it the best chance in years for clear crypto regulation.
The bill seeks to define regulatory oversight between the SEC, CFTC, and other agencies, particularly for non-stablecoin assets like tokenized stocks. Armstrong argued the measure would protect consumers, give firms confidence to innovate in the U.S., and prevent future regulatory overreach.
Industry leaders from Ripple, Kraken, Circle, Cardano, and major VCs joined lawmakers to push for supportive policies. Kraken CEO Arjun Sethi stressed the bill must protect builders across protocols and token types. Armstrong also noted Congress rejected banking industry pressure to limit yield-bearing stablecoins, a move banks claimed could threaten traditional lending. Lawmakers’ stance signals growing determination to balance innovation with consumer safeguards while resisting Wall Street pushback.
Other News Making Waves
- David Sacks denied breaching his 130-day service cap as White House special advisor for AI and crypto, after lawmakers led by Elizabeth Warren alleged conflicts of interest tied to his crypto and AI investments. (More)
- Former Binance CEO Changpeng Zhao warned of increasingly sophisticated North Korean cyberattacks on crypto firms, citing tactics like fake job recruitment, bribery, and vendor compromises that have led to multimillion-dollar breaches. (More)
- KOSCOM filed trademarks for multiple won-denominated stablecoins, while forming a Digital Asset Business Promotion Task Force to pilot settlement efficiency and tokenized securities integration ahead of Korea’s regulatory rollout. (More)
- Trump’s Fed nominee Stephen Miran revived a rarely cited “third mandate” requiring moderate long-term interest rates, fueling speculation over yield curve control and predictions it could weaken the dollar but boost Bitcoin demand. (More)
- Bitwise filed with the SEC to launch a Stablecoin & Tokenization ETF, equally weighted between equities and crypto ETPs, targeting rapid sector growth with approval decisions expected by November. (More)
- American Express has launched NFT passport stamps on Ethereum’s Base network, letting U.S. cardholders commemorate past trips with non-transferable digital keepsakes that reflect growing demand for blockchain-based travel mementos. (More)
- Shiba Inu’s K9 Finance offered a 5 ETH bounty to a hacker after a $2.4M bridge exploit, as SHIB, KNINE, and BONE tokens plunged and developers tightened security with paused staking and multisig protections. (More)
- Native Markets won Hyperliquid’s USDH ticker in a controversial vote criticized as skewed, with industry leaders warning stablecoins are becoming commoditized and exchanges may soon consolidate them under a single “USD” label. (More)
- Helius CEO Mert Mumtaz declared crypto is “Capitalism 2.0,” not Web3, as the SEC and CFTC explore 24/7 U.S. markets and tokenized assets emerge as bridges between traditional finance and blockchain. (More)
Around the World: Bold Moves and Regulations
- Australia’s ASIC granted a groundbreaking exemption allowing intermediaries to distribute licensed stablecoins without separate financial licenses, with Catena Digital’s AUDM becoming the first beneficiary under the new regime. (More)
- South Korea’s BDACS launched KRW1, the country’s first proof-of-concept won stablecoin, fully backed by Woori Bank reserves and featuring real-time reserve verification, positioning it for regulatory readiness ahead of 2026 laws. (More)
- The U.S. SEC approved generic listing standards for crypto-linked Commodity-Based Trust Shares, streamlining spot crypto ETP launches, with Grayscale’s Digital Large Cap Fund and Bitcoin ETF index options receiving approval. (More)
- Hong Kong and Singapore unveiled a regulated token corridor integrating stablecoins, tokenized deposits, and wholesale CBDCs to enable 24/7 cross-border settlements, setting a global precedent for digital finance corridors. (More)
- Thailand froze three million bank accounts in a scam crackdown, sparking backlash from innocent vendors and expatriates, with calls for the central bank to ease freezing measures amid rising Bitcoin advocacy. (More)
- Pakistan invited global exchanges and VASPs to apply for licenses under its new Virtual Assets Regulatory Authority, aiming to regulate its $300B crypto market while aligning with AML/CTF standards and supporting Shariah-compliant fintech innovation. (More)
- The Bank of England proposed capping systemic stablecoin holdings at £10k–£20k for individuals and £10mn for businesses, sparking backlash from Coinbase and crypto groups who warn the limits would harm UK competitiveness and stifle innovation. (More)
Market Trends: Winners and Losers
Top 5 Gainers 📈
According to data from CoinGecko, these are the five biggest gainers of the week:
- APX +%, from $0.091407 to $0.628819
- Avantis +%, from $0.442517 to $1.11
- DuckChain +%, from $0.00491958 to $0.00942017
- Quack AI +%, from $0.01616979 to $0.03475369
- Mavryk Network +%, from $0.115056 to $0.291570
Top 5 Losers 📉
According to data from CoinGecko, the five biggest losers of the week are:
- OpenVPP –%, from $0.154705 to $0.119115
- Rei –%, from $0.116270 to $0.066604
- TROLL –%, from $0.173983 to $0.123709
- Tharwa –%, from $0.01300453 to $0.00897136
- Four –%, from $2.66 to $1.94
Project Spotlight
KernelDAO Launches KUSD: A Yield-Bearing Stablecoin Backed by Real-World Credit
KernelDAO has introduced KUSD, a stablecoin backed by institutional receivables like remittances, payroll, and trade finance. Unlike traditional stablecoins, KUSD generates yield through repayment flows using its “Internet of Credit” layer, Kred, creating a self-reinforcing cycle of liquidity and rewards. Built on KernelDAO’s $2.4B ecosystem, KUSD aims to bridge DeFi and real-world finance, targeting inefficiencies in the $220T global payments market.
Why It Matters:
KUSD transforms stablecoins from passive stores of value into yield-generating settlement tools, aligning DeFi liquidity with real-world financial demand and institutional adoption.
Disclaimer: This article is intended solely for informational purposes and should not be considered trading or investment advice. Nothing herein should be construed as financial, legal, or tax advice. Trading or investing in cryptocurrencies carries a considerable risk of financial loss. Always conduct due diligence.
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