Global Weekly Top 10 Crypto News (Sept 15 to Sept 19)

1. Federal Reserve Resumes Rate Cuts of 25 Basis Points, US Initial Jobless Claims Lower Than Expected

The Federal Reserve announced a reduction in its benchmark interest rate by 25 basis points to a range of 4.00% to 4.25%, meeting market expectations. This move marks the official resumption of rate cuts, which had been paused since December last year.

Market analysts believe this decision reflects the Federal Reserve's effort to balance concerns over slowing economic growth with the need to manage inflation and employment.

Data revealed that initial jobless claims in the US for the week ending September 13 stood at 231,000, below market expectations of 240,000 and significantly lower than the previous figure of 263,000. This indicates resilience in the labor market and adds further room for discussion regarding the Federal Reserve's future policy direction.

2. Metaplanet to Establish Subsidiaries in Japan and the US, Acquires Domain Bitcoin.jp

MetaPlanet, a publicly listed company in Japan (stock code: 3350), has announced the establishment of a wholly-owned subsidiary named "Bitcoin Japan Corporation." This subsidiary will focus on Bitcoin-related media, events, and service businesses. The company also plans to acquire the well-known Japanese Bitcoin domain "Bitcoin.jp."

Additionally, MetaPlanet has announced the creation of a new US subsidiary, Metaplanet Income Corp., aimed at expanding its Bitcoin revenue business.

MetaPlanet stated that the establishment of subsidiaries will enable the integration of existing operations and future plans, enhance transparency and profitability, and lay the foundation for strategic business expansion.

3. Jack Ma-Backed Yunfeng Financial Raises HK$1.17B, Launches First RWA Tokenization

Yunfeng Financial Group (376.HK), backed by Jack Ma, is accelerating its digital finance strategy with new fundraising and its first RWA tokenization.

On September 16, the Hong Kong–listed firm raised HK$1.17 billion (US$150 million) through a top-up placement, with proceeds earmarked for infrastructure upgrades, talent expansion, and licensed virtual asset services. Earlier this month, Yunfeng also purchased 10,000 ETH worth about US$44 million as reserve assets, highlighting its conviction in Ethereum.

A day later, the company announced it had tokenized investment shares in a Fund of Funds, its first independently executed RWA project. The fund focuses on alternative assets such as credit and real estate debt. Executives said the pilot program aligns with Hong Kong’s efforts to link virtual assets with the real economy and will pave the way for tokenization of additional asset categories.

4. Polymarket Plans US Comeback With $10B Valuation and Token Issuance Signals

Blockchain-based prediction platform Polymarket is planning to re-enter the US market and is currently seeking a new round of financing. Sources familiar with the matter revealed that the valuation for this round is expected to exceed $3 billion.

One source indicated that at least one investor's term sheet values the company as high as $10 billion. Previously, the company raised $200 million in June in a funding round led by Peter Thiel's Founders Fund. Polymarket was prohibited from serving US users in 2022 after reaching a settlement with the Commodity Futures Trading Commission.

In July this year, the company acquired Florida-based derivatives exchange QCX to pave the way for its return to the US market. In September, the CFTC issued a no-action letter to QCX, granting regulatory exemptions for event contracts.

Market reports indicate that Polymarket has filed documents with the Securities and Exchange Commission, showing that the latest round of financing includes "other warrants," which often refer to tokens and may suggest the possibility of token issuance.

5. Binance Negotiates with US Department of Justice to Potentially Remove Key Oversight Terms from $4.3 Billion Settlement

Binance is in discussions with the US Department of Justice to potentially remove key oversight requirements from its $4.3 billion settlement agreement. Sources familiar with the matter revealed that federal prosecutors are negotiating with Binance regarding the need to maintain external compliance monitors.

Previously, Binance faced allegations of insufficient measures to prevent money laundering. The Department of Justice has previously removed monitoring arrangements for several companies due to their high costs and operational impact.

On September 18, BNB surpassed $1,000, setting a new all-time high.

6. Native Markets Secures USDH Stablecoin Bid, Plans Token Testing in Coming Days

Hyperliquid ecosystem team Native Markets has emerged as the winner in the USDH token bidding process.

Several major cryptocurrency companies participated in the bid, including institutional players like Paxos and BitGo, alongside crypto-native firms such as Ethena and Frax. Native Markets, being the first to submit a proposal, garnered support from two-thirds of staked HYPE tokens. The company plans to commence the token testing phase "within days."

The proposal outlines that Native Markets' USDH will be natively issued on Hyperliquid's HyperEVM network. Its reserves will be jointly managed through both off-chain and on-chain assets, with a clear strategy to allocate reserve proceeds toward HYPE buybacks and expanding USDH circulation.

The stablecoin will initially be fully backed by off-chain reserves managed by BlackRock and on-chain reserves overseen by Superstate via Bridge, supported by cash and U.S. Treasury equivalents.

7. Circle Announces Investment in HYPE Tokens and Explores Becoming a Hyperliquid Validator

Circle has officially unveiled its involvement in the major expansion plans of the Hyperliquid ecosystem. The company has completed its initial investment in HYPE tokens and is actively evaluating the possibility of becoming a Hyperliquid validator.

Additionally, Circle has launched native USDC and CCTPv2 on HyperEVM and plans to enable direct deposits and CCTP interoperability for Hyperliquid USDC on HyperCore in the coming weeks.

Circle will also introduce dedicated incentive programs for HyperEVM and HIP-3 developers, offering development tools and on-chain protocol support. Circle CEO Jeremy Allaire expressed admiration for Hyperliquid’s growth and success over the past year, describing it as a "very unique and special" ecosystem.

8. Hong Kong Plans Stablecoin Audit Guidelines and HKMA Promotes Tokenized Deposits

Hong Kong is accelerating regulatory and institutional development in stablecoins and tokenized finance. Sun Tak-kei, Chairman of the Hong Kong Accounting and Financial Reporting Council, recently stated that under the Stablecoin Ordinance effective since August 1, licensed stablecoin operators are required to undergo annual independent audits to ensure transparency and compliance. He estimated that Hong Kong may need one to three years to introduce more comprehensive stablecoin audit and accounting guidelines.

Sun also revealed that the AFRC might indirectly participate in regulation by adopting a prudent approach similar to the licensing process for virtual banks, clarifying standards for financial recognition, measurement, and disclosure for licensed institutions.

At the same time, Hong Kong Chief Executive John Lee highlighted in his latest policy address that the Hong Kong Monetary Authority will promote tokenized deposits by commercial banks and explore scenarios for real tokenized asset transactions. Examples include using tokenized deposits to settle tokenized funds, normalizing the issuance of tokenized bonds, and enhancing risk management through regulatory sandboxes. Lee also emphasized that Hong Kong is implementing a stablecoin issuer system and studying legislative frameworks for digital asset trading and custody services.

Additionally, the Hong Kong Securities and Futures Commission plans to expand the types of digital asset products available to professional investors while strengthening international tax cooperation and combating cross-border tax evasion.

9. Tether to Launch USAT Stablecoin and Appoints Bo Hines as CEO

Tether has announced the launch of USAT, a dollar-backed stablecoin designed to operate within the U.S. regulatory framework. Bo Hines has been appointed as the future CEO of Tether USAT.

USAT will adhere strictly to the regulatory standards outlined in the U.S. GENIUS Act. Supported by transparent reserves, it aims to provide businesses and institutions with a digital alternative to cash and traditional payment systems.

The stablecoin will leverage Tether's Hadron technology platform and will be issued by Anchorage Digital, a federally regulated crypto bank, with Cantor Fitzgerald designated as the reserve custodian.

Tether CEO Paolo Ardoino stated that the launch of USAT is a natural step to ensure the dollar maintains its dominance in the digital age. Bo Hines, who previously served as Executive Director of the White House Crypto Council, brings expertise in law, business, and policy to his new role.

10. MetaMask Launches mUSD Stablecoin with Linea Integration and Global Payments

ConsenSys’s MetaMask has introduced mUSD, a Treasury bill–backed stablecoin designed for payments and DeFi, launching September 15 with support from Bridge and M0. Unlike USDC or Tether, mUSD generates yield through short-term U.S. government securities while maintaining full collateralization.

The token is natively integrated with Linea, ConsenSys’s layer-2 network, where it is positioned as the primary stablecoin. Linea has processed over 10 million transactions since 2023 and hosts more than $200 million in TVL. mUSD is also embedded into MetaMask’s swap, bridge, and fiat onramp services, offering users reduced fees and priority trading pairs.