The Federal Reserve Board announced on Sept. 3 that it will host a payments innovation conference on Oct. 21, where it will discuss stablecoins, DeFi, and tokenization.

The conference will feature panel discussions on the convergence of traditional and decentralized finance, emerging stablecoin use cases and business models, artificial intelligence applications in payments, and tokenization of financial products and services.

Federal Reserve Governor Christopher Waller emphasized the conference’s focus on technological advancement, stating that innovation has been a constant in payments to meet the changing needs of consumers and businesses.

Waller noted his anticipation for examining opportunities and challenges presented by new technologies while gathering ideas to improve payment system safety and efficiency.

Building on recent stablecoin focus

The conference follows extensive Federal Open Market Committee discussions on stablecoins during the July 29-30 meeting, where officials analyzed potential financial system impacts following passage of the GENIUS Act.

The comprehensive federal stablecoin framework, signed into law on July 18, established regulatory clarity that FOMC members cited as a driver for projected growth in stablecoin usage.

Fed minutes revealed officials’ recognition of stablecoins’ potential benefits, particularly for payment system efficiency and increased demand for Treasury securities used as collateral.

However, participants expressed concerns about broader banking system implications and emphasized the need for close monitoring of stablecoin backing assets.

The Crypto Investor Blueprint: A 5-Day Course On Bagholding, Insider Front-Runs, and Missing Alpha

Nice Your first lesson is on the way.

Please add [email protected] to your email whitelist.

The central bank’s proactive approach reflects a growing acknowledgment of the relevance of digital payment systems to its monetary policy and financial stability responsibilities.

Supportive stance

Governor Waller has consistently supported blockchain-based payment innovation, recently declaring “there is nothing scary” about DeFi operations at the Wyoming Blockchain Symposium.

He compared DeFi transactions to conventional debit card purchases, framing smart contracts and distributed ledgers as natural technological evolution rather than disruptive threats.

Waller credited stablecoin development with extending dollar accessibility globally, particularly benefiting high-inflation countries lacking affordable banking services.

He highlighted their potential to “maintain and extend the role of the dollar internationally” through 24/7 availability and rapid transferability.

The October conference represents the Fed’s commitment to understanding how emerging payment technologies might integrate with existing monetary infrastructure while addressing regulatory challenges and opportunities in the evolving digital payments landscape.

Author

Sujha Sundararajan

Author

Sujha Sundararajan

About Author

Sujha has been recognised as Women In Crypto 2024 by BeInCrypto for her leadership in crypto journalism.

Share

Last updated: 

August 15, 2025

The US regulator has extended its review period for two Solana exchange-traded funds (ETFs) filings to October 16, 2025.

The SEC said that the extension allows “sufficient time to consider” Solana ETF proposals from Bitwise and 21Shares, which were originally due on August 17.

“The Commission finds that it is appropriate to designate a longer period within which to issue an order approving or disapproving the proposed rule change so that it has sufficient time to consider,” the Thursday filing read.

The maximum 60-day extension authority will be the final deadline for approval or denial.

Further, the agency has also delayed proposals from Canary Funds and Marinade Finance, Bloomberg ETF analyst James Seyffart noted.

“Suspect we won’t see too many more of these,” he wrote on X. “We’re expecting standard spot Solana ETFs to be approved by mid-October at the latest.”

Solana ETFs Approval Likely in October?

Despite the SEC’s delay on altcoin ETF decisions, Nate Geraci, President of The ETF Store, is optimistic that a broad array of crypto ETFs will hit markets soon.

Speaking to CNBC, he explained how regulatory tailwinds and record inflows into Bitcoin and Ether funds are driving altcoin momentum. He said that the new rules would trigger a flood of product launches in the coming months.

Andrejs Balans, Risk Manager at YouHodler, told Cryptonews that aside from Bitcoin and Ethereum, projects like Solana and Polkadot have attracted institutional interest, but are still considered experimental.

“Only a few of these are likely to survive long enough to gain serious attention from major capital allocators.”

SOL Surged Past $200, Indicates Strong Uptrend

Solana price rose to $209 on Thursday, amid soaring discussions over the potential Solana ETF launch in the US. Per CoinMarketCap, the 24-hour low and high are $195.26 and $209.67, respectively.

CoinGlass data noted massive buying in the derivatives market. Open interest (OI) has increased near its recent record of $12, which indicates that traders are positioning for the continuation of this uptrend.

Additionally, crypto liquidations in the past 24 hours have surged to $800 million, including $50 million worth of SOL long positions.

Retail investors in the U.K. will soon be able to buy crypto exchange-traded notes (cETNs) under a new rule from the Financial Conduct Authority (FCA) set to take effect Oct. 8.

The FCA had previously barred retail access to crypto ETNs in 2021, citing investor protection concerns.

However, with the market maturing and some crypto investment products now better understood, the regulator said it will allow access, provided the ETNs are listed on recognized, FCA-approved U.K.-based exchanges.

Products must follow financial promotion rules to prevent misleading advertising and inappropriate incentives. The FCA’s Consumer Duty rules, which require firms to avoid causing foreseeable harm, will apply. The FCA warned, however, that there won’t be coverage under the Financial Services Compensation Scheme for these products.

The move comes after retail investors gained access to a plethora of cryptocurrency exchange-traded funds (ETFs) overseas in the U.S. These funds, per SoSoValue data, have already accumulated $146.4 billion in total net assets.

This followed Bitcoin’s drop to $76,000 amid a sharp and aggressive retracement from the mid-$80,000 range it traded in for the past several weeks.

NUPL and NUL are valuable tools for assessing the behavioral state of Bitcoin holders. These metrics are derived from the difference between Bitcoin’s current market price and the realized price — the average price at which all coins were last moved on-chain.

NUPL = (Market Cap – Realized Cap) / Market Cap
NUL = (Realized Cap – Market Cap) / Market Cap

NUPL shows the ratio of unrealized profits in the network. A high NUPL suggests that most coins are profitable, while a low or negative NUPL indicates widespread losses. NUL, its inverse, measures unrealized losses.

A high NUL suggests that many coins are held below their acquisition cost, which is typically associated with capitulation or fear. Together, these indicators help identify market cycles, sentiment transitions, and inflection points that precede major moves.

A NUL of 0.0578 meant that 5.78% of Bitcoin’s market cap was in an unrealized loss. This implies that a considerable cohort of market participants, mostly those who entered near Bitcoin’s March peak, found themselves holding BTC at a loss. This is a meaningful psychological shift, as it signals the onset of fear among short-term holders and the sharp cooling of the bullish sentiment we’ve seen at the beginning of the year.

To put this in context, the lowest NUL reading before 2025 occurred on Dec. 15, 2024, when it reached 0.0. That day, Bitcoin was trading above $104,000, and nearly all holders were in profit. Around the same time, NUPL peaked at 0.6349, a level historically associated with euphoric sentiment and overheated market conditions. These readings were consistent with a mature bull phase, often followed by distribution and increased volatility.

The transition from those extreme highs to the current mid-range suggests a market undergoing correction rather than collapse. NUPL remains above 0.4, indicating that most investors are still in profit. However, a rising NUL implies that losses are growing among recent entrants, particularly those who bought into strength late in the cycle.

First, April’s elevated NUL and declining NUPL reveal that the market has shifted from a risk-on to a highly reactive, cautious sentiment. Profit margins have compressed, and a growing share of coins have slipped into loss. This shows that short-term holders are under immense pressure, and the market recalibrates after a rally.

Second, the relatively modest rise in NUL, still well below 0.1, indicates that this is not a widespread capitulation event. Historically, NUL levels above 0.1 have been associated with deep bear markets and network-wide stress. The current 0.0578 level points to a correction with localized losses, likely centered around recent buyers.

Third, NUPL’s resilience above 0.4 supports the thesis that long-term holders remain largely in profit and unshaken. These holders typically serve as a stabilizing force during volatility, and their conviction often sets the foundation for new accumulation zones.

Fourth, Bitcoin’s price action shows that while the price dropped significantly from its peak, it remained in a historically elevated range above $76,000 and up to $85,000 in April. This further supports the view that the drawdown was technical rather than structural, with little evidence of panic selling or systemic deleveraging.

The NUPL and NUL data clearly show a market in transition. The recovery in both ratios as of April 10 shows that the broader market structure remains intact, with most holders still in profit.

This setup resembles historical phases in which the market consolidates before setting the stage for a new upswing, provided macro conditions remain favorable.

The post Unrealized losses hit highest level since October 2023 as Bitcoin dropped to $76k appeared first on CryptoSlate.

The filings for spot Solana (SOL) exchange-traded funds (ETFs) from VanEck, 21shares, Bitwise, and Canary Capital were officially added to the Federal Register on Feb. 18. The US Securities and Exchange Commission (SEC) now has 240 days to approve or deny the filings.

Additionally, the register for the Grayscale filing was added on Feb. 12, which would include its Solana ETF in the batch that could be approved until Oct. 16.

The Grayscale Solana ETF amendment was acknowledged by the SEC on Feb. 6, and the four other filings were acknowledged on Feb. 11.

SOL is currently in a spot where the buzz of an ETF approval is a much-needed boost. Following the debacle of the LIBRA memecoin, promoted by Argentinian President Javier Milei, SOL crashed up to 42% year-to-date as of Feb. 18.

According to Bloomberg ETF analysts Eric Balchunas and James Seyffart, spot Solana ETFs have 70% approval odds. 

Notably, the analysts highlighted that these odds could rise if the lawsuits deeming SOL as security are extinguished. This is a likely outcome considering the current SEC stance of halting lawsuits against crypto firms.

Wave of ETF approvals

Seyffart and Balchunas also predicted in late 2024 that a wave of crypto ETFs, including SOL, Hedera (HBAR), Litecoin (LTC), and XRP, would hit the market.

The estimate is related to the changing regulatory landscape in the US following President Donald Trump’s election for a second term.

On Feb. 19, Canary Capital announced an Axelar (AXL) trust, potentially adding another asset to the approval queue.

According to the firm’s announcement, the Canary AXL Trust will provide institutional and accredited investors with secure exposure to AXL, the native crypto of the Axelar Network. Canary has selected Coinbase as the trust’s designated custodian.

The trust is the first investment trust dedicated to a general blockchain interoperability protocol, emphasizing the increasing demand for seamless cross-chain connectivity in the Web3 ecosystem. 

Steven McClurg, CEO of Canary Capital, stated:

“With Axelar driving some of the most advanced interoperability solutions in Web3, we see in AXL a significant opportunity for institutional investors. As demand for crypto exposure grows, we remain committed to providing structured, secure, and forward-thinking investment vehicles that align with blockchain’s future.”

By early 2025, Axelar ranked as the 11th largest blockchain by total value locked (TVL), surpassing $1 billion. 

As interoperability continues to shape the blockchain landscape, Axelar is expected to expand its reach and integrate with networks such as XRP Ledger, Hedera, Stellar, Sui, Solana, and Bitcoin.

Mentioned in this article

Nervos CKB Update

The latest release from Nervos CKB, version 0.119.0, was introduced on October 25, 2024. This update is pivotal as it rolls out a new preview chain, which provides a test environment for the upcoming hard fork on the Nervos network. Here are the key highlights:

• New Chain for Preview: Allows developers and users to engage with the hard fork changes ahead of official deployment, enhancing transparency and readiness.
• Testnet Activation: The hard fork has been activated on the testnet, requiring nodes to update to this latest version to participate and test the changes effectively.
• Compatibility: Ensures compatibility across different network stages, including developments scheduled for future epochs.

Notable improvements and bug fixes in this release address multi-threading issues, script optimizations, and transaction conflict resolutions, contributing to the overall robustness of the network.

Zephyr Protocol v2.0.0 – ZSD Yield Release

Zephyr’s major update to version 2.0.0, known as the ZSD Yield Release, was rolled out to support the new ZSD Yield Mechanism. Here are the significant changes and enhancements:

• ZSD Yield Mechanism: Users can now stake ZSD and receive Zephyr Yield Shares (ZYS), a new asset that represents a stake in the ZSD Yield Reserve.
• Block Reward Restructuring: To support the new yield system, block rewards have been reallocated, significantly altering the distribution to favor reserve accumulation while removing the governance reward.

This update marks a substantial shift in Zephyr’s approach to value storage and distribution, aiming to enhance stability and growth within the ecosystem.

Pyrin Network Uncertainty

October brought unforeseen challenges with the Pyrin project. The developers have abruptly left the project and shut down all associated online platforms, casting significant doubt on the future of the Pyrin network. As a result:

• The official Pyrin website and social media channels have been deactivated, eliminating direct sources of information and updates.
• Mining continues, however, the stability and viability of PYI are now in question, and no new deposits are being accepted on exchanges.
• Bitcoin payouts for PYI mining have been halted, reflecting the uncertainty surrounding the project’s continuation.

We advise miners to proceed with caution and consider mining other cryptocurrencies. Use 2CryptoCalc.com to assess the profitability of available options.

As always, we are here to support your mining endeavors and will keep you updated through our X (Twitter) and Telegram miner community on any developments. Your success in mining is important to us, and we’re committed to navigating these challenges together.

For Attera attra.

Total revenue for October 2021: 1,869,207 euros
October 2021 Revenue Share: 186,921 Euro
Stocks per 100 CPAY: 0.207 Euro
Distribution date: November 10, 2021
Revenue share for October 2021: 44.4912 ETH

€1,869,207, which is the best result for Cryptopay. still.

Cherry blossoms above? All this has been possible thanks to B2C. B2C was growing significantly in every region possible. Wallet replacement operation? It’s doubled. Bank transfer? 1,5 times higher. Card program? Increased by 30%. Card deposit? Same as above. The B2B stayed in about the same place, but considering where it was, it was a great street. Well, we take it.

Can you guarantee something better? (or at leastsame) Results for November 2021? Obviously, it’s not. Cryptopay is humble and, first and foremost, the first market to blame us for our success. But again, we did a good job too. Product development will be cleaned up nicely and will soon begin planning for the first quarter 2022, but this is another story.

Oh yeah, I almost forgot. BTC surged above $67,5K, beating new records. Did you notice?

Billing revenue. Find out how.