Solana Surges Past $200 on Renewed Investor Confidence and DeFi Developments
Solana soared over 12% to trade above $200 for the first time since February 2025, driven by growing investor confidence, increased liquidity, and major ecosystem updates. Analysts credited the surge to the upcoming launch of the Jito Foundation’s Block Assembly Marketplace (BAM), which aims to enhance transaction efficiency and reduce MEV on the Solana network. Additionally, DeFi Development Corp's $19 million SOL purchase further boosted sentiment, alongside rising speculation about a potential Solana ETF decision in October. The rally marks a notable shift in altcoin momentum amid renewed interest in Ethereum and broader DeFi platforms. (The Block)
BlackRock’s Ethereum ETF Hits $10B,cThird-Fastest in ETF History
BlackRock’s iShares Ethereum Trust (ETHA) has surged past $10 billion in assets, making it the third-fastest ETF in history to reach this milestone, after only BlackRock and Fidelity’s spot Bitcoin funds. ETHA added $5 billion in just 10 days, an unprecedented growth pace driven by both rising Ethereum prices and strong inflows. The momentum aligns with renewed investor interest in Ethereum, boosted by the GENIUS Act and increasing adoption of Ethereum-based treasuries. Analysts say the ETF’s explosive growth is a key signal that demand for ETH-backed financial products has firmly arrived. (Decrypt)
Western Union Eyes Stablecoin Integration After GENIUS Act Approval
Western Union is exploring the integration of stablecoins into its digital wallet platform, with a focus on enabling on-ramp and off-ramp services for customers worldwide. CEO Devin McGranahan emphasized that stablecoins present an opportunity for innovation in remittances, especially for cross-border payments and value storage in volatile markets. The move comes as stablecoins gain regulatory clarity in the U.S. through the recently signed GENIUS Act, which establishes federal guidelines for stablecoin issuers. Western Union's exploration signals growing mainstream adoption of crypto-backed financial tools. (The Block).
Telegram Rolls Out Self-Custodial Crypto Wallet in the U.S.
Telegram has launched a non-custodial crypto wallet in the U.S., allowing users to send, receive, and manage digital assets directly within the app. Built on The Open Platform (TOP) and the TON blockchain, the feature is instantly accessible without a separate download. This U.S. rollout follows Telegram’s global crypto wallet success, which reached over 100 million activations. The move comes years after Telegram’s legal battle with the SEC over its original TON token, and now signals a fresh push into U.S. crypto adoption through a MoonPay integration. (The Block)
a16z Leads $15M Round for AI-Focused Decentralized Data Layer Built on Story Protocol
Andreessen Horowitz (a16z) has led a $15 million seed round for Poseidon, a decentralized data layer built on the IP-centric Story Protocol. Incubated by the Story team, Poseidon aims to solve the challenge of accessing high-quality, legally licensed training data for next-gen AI models. By leveraging Story’s programmable IP infrastructure and immutable registry, Poseidon plans to reward data creators while ensuring compliance. The move builds on a16z’s broader bet on tokenized intellectual property, following its $80M Series B backing of Story Protocol last year. (The Block)
CryptoPunks Spark NFT Market Comeback on Ethereum and Solana
NFT trading volume has rebounded, led by CryptoPunks, which accounted for over half of Ethereum's $26 million trading activity last Sunday, the busiest day since February. The floor price of CryptoPunks surged 20% in ETH and 45% in USD, driven by increased demand and Ethereum’s price rally. Solana NFTs like Mad Lads also saw gains, while other Ethereum-based collections like Pudgy Penguins and Fidenzas posted major floor price jumps. Despite the uptick, the current momentum remains milder than earlier NFT booms this year. (Decrypt)
South Korea Fast-Tracks Stablecoin Bills to Safeguard Won in Digital Economy
South Korea’s ruling Democratic Party is accelerating efforts to pass legislation that would allow won-based stablecoins, aiming to prevent the Korean won from being overshadowed by U.S. dollar-pegged cryptocurrencies. Lawmaker Min Byung-deok has introduced three bills to establish a comprehensive framework for digital assets, including stablecoins, security token offerings (STOs), and spot crypto ETFs. This legislative push aligns with President Lee Jae-myung’s crypto-forward campaign promises, supported by blockchain expert Kim Yong-beom. A complementary bill by Ahn Do-geol will focus on stablecoin standards and tighter regulatory coordination, with both lawmakers expecting passage by year-end. (Blockhead)
Square Begins Rolling Out Bitcoin Payments for Merchants via Lightning Network
Square has started onboarding its first merchants to accept Bitcoin payments through the Lightning Network, according to Block executive Owen Jennings. The feature, tested at Bitcoin 2025 in May, enables faster, cheaper transactions by operating off-chain. Square aims to make the BTC payment option available to all sellers by next year, expanding payment flexibility and boosting economic empowerment for small businesses. The move follows Block’s broader push to accelerate crypto adoption and coincides with its inclusion in the S&P 500. (PYMNTS)
