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Is it because the model is unsustainable, the ecosystem has yet to launch, the competitors are too strong, or is there simply insufficient market demand?

Individual investors are participating in this game through emerging prediction markets such as Kalshi and Polymarket.

After the "Genius Act" was passed in the United States, stablecoin payment volumes surged, with August transactions exceeding 10 billion USD. Nearly two-thirds of this amount came from inter-company transfers, making it the main driving force.

In Brief BlackRock transfers $500 million to Polygon, enhancing blockchain integration in finance. The move shows increased trust in blockchain-based financial structures. It indicates a trend towards decentralization and long-term structural change in finance.


- 12:11CoinShares launches staking TON ETP "CTON"Jinse Finance reported that a digital asset management company and an exchange have announced the launch of a staking-based TON exchange-traded product, CoinShares Physical Staked Toncoin (CTON). It is reported that this ETP will invest directly in the underlying TON tokens at a 1:1 ratio, aiming to provide investors with exposure to TON.
- 12:09Japanese payment giant TIS launches multi-token platform based on AvalancheChainCatcher News, one of Japan's largest payment infrastructure providers, TIS, has announced a partnership with Ava Labs to launch a blockchain-based multi-token platform aimed at meeting the growing demand from financial institutions for on-chain asset transfers. The platform is built using Avalanche's enterprise-grade blockchain development tool AvaCloud, and will support the issuance, settlement, and management of stablecoins and tokenized assets in compliance with Japan's Payment Services Act. TIS plans to collaborate with banks, enterprises, and government agencies to promote the platform's global adoption. As a giant in Japan's payment industry, TIS currently processes half of Japan's credit card transactions, handling approximately $2 trillion in transactions annually through its PAYCIERGE payment system. The new platform brings this scale into the blockchain sector, transforming traditional payment systems into programmable financial infrastructure.
- 12:09Hyperscale Data: Bitcoin treasury allocation expands to $68.8 million, current holdings increase to approximately 194.5 BTCChainCatcher news, NYSE American-listed company Hyperscale Data announced that it has expanded its bitcoin treasury allocation to $68.8 million, including its current holdings and funds allocated for committed bitcoin purchases. At present, its wholly-owned subsidiary Sentinum holds approximately 194.5513 bitcoins (including 36.4245 bitcoins acquired on the open market and about 158.1268 bitcoins obtained through its bitcoin mining operations). In addition, $46.5 million in cash has been allocated for purchasing bitcoin on the open market.