TradFi dives deeper into crypto: Tether’s mega raise, SEC eyes onchain stocks, JPMorgan expands Kinexys and a biotech bets treasury on DePIN. If this week’s Crypto Biz had a theme, it’s the steady march of traditional finance deeper into crypto’s core infrastructure. Tether is reportedly courting major venture firms for a funding round that could value the stablecoin issuer alongside private tech giants like OpenAI. At the same time, US regulators are considering whether traditional stocks should trade onchain, as the convergence between the Securities and Exchange Commission, Wall Street and tokenization gains momentum. Elsewhere, JPMorgan’s Kinexys platform added a major Gulf bank as a user, while a Nasdaq-listed biotech firm built a treasury entirely around a DePIN token. Read more
ETH bottomed at $3,900, and a unique trading pattern forecasts another 100% gain by mid-2026. Key takeaways: Ethereum may have found a floor at $3,900, signaling a local bottom. A rare Power of 3 pattern suggests a potential 80% to 100% breakout in Q4. Read more
Canaan’s 50,000-rig deal, its largest in more than three years, signals a renewed US appetite for Bitcoin mining, according to the company’s CEO. Canaan Inc. shares jumped more than 26% in early trading Thursday after the crypto mining firm landed a 50,000-rig order. Canaan said that a US-based company purchased the latest-generation “Avalon A15 Pro” mining machines, an institutional-grade Bitcoin mining rig. The buyer was not disclosed, but the sale was reported as Canaan's largest in over three years. The company’s CEO, Nangeng Zhang, said the sale highlighted both companies’ “confidence in the long-term growth” of Bitcoin mining and the “demand for highly efficient, next-generation infrastructure.” Read more
1inch co-founder Sergej Kunz said centralized crypto exchanges will gradually fade and serve only as frontends for decentralized finance. Centralized crypto exchanges could disappear within the next decade as decentralized finance (DeFi) aggregators take over, according to 1inch co-founder Sergej Kunz. In an interview with Cointelegraph at Token2049 in Singapore, Kunz predicted that exchanges will slowly transition into frontends for decentralized exchanges (DEXs). “I think it will take like five to 10 years,” he said. Kunz argued that while centralized exchanges are isolated markets, 1inch and its aggregator act as a global liquidity hub. His comments came as 1inch announced a deal with major US crypto exchange Coinbase, integrating its service to provide DEX trading to its users. Read more
Though planned for “early 2026,” the expansion in the CME Group’s trading services was still subject to regulatory review amid a US government shutdown with no end in sight. The derivatives marketplace Chicago Mercantile Exchange (CME) Group said it will expand its services to offer “always on” trading for crypto markets starting in 2026. In a Thursday notice, the CME Group said that, pending regulatory review, it would allow clients to trade cryptocurrency futures and options “24 hours a day, seven days a week beginning in early 2026.” The so-called “around-the-clock cryptocurrency trading” will represent a significant expansion in its services, beyond its scheduled pauses on weekends, holidays, and outside business hours. “While not all markets lend themselves to operating 24/7, client demand for around-the-clock cryptocurrency trading has grown as market participants need to manage their risk every day of the week,” said CME Group’s global head of equities, FX, and alternative products, Tim McCourt. “Ensur...