Hey crypto addicts,

The crypto market is becoming increasingly selective. Bitwise is set to close its Dogecoin ETF just 10 months after launch, with trading expected to end on October 14. The move highlights a growing challenge for crypto investment products: strong brand recognition and retail interest do not always translate into sustained investor demand.

While Dogecoin’s ETF story points to softer appetite for speculative exposure, the broader institutional market continues to move in the opposite direction. Corporate Bitcoin accumulation remains strong, crypto ETFs continue to evolve, and major investors are becoming more focused on assets with deeper liquidity and clearer long-term narratives.

At the same time, regulators across the US and Europe are pushing ahead with new rules covering digital assets, market structure, and cybersecurity. The result is a crypto market that is becoming more mature, regulated, and selective. ☕

What we’ve covered for you today:

Stablecoins are taking another step toward becoming part of everyday financial life. MoneyGram has launched a new Visa stablecoin card in Colombia, allowing users to hold a dollar-linked balance and spend it wherever Visa is accepted. The move highlights how stablecoins are increasingly moving beyond crypto trading and into real-world payments.

For MoneyGram, the launch represents a broader expansion beyond its traditional remittance business. The card supports USDC and combines MoneyGram’s network with Visa’s global payment infrastructure, with Rain, Crossmint, and Stellar supporting the technology behind the product. MoneyGram also plans to introduce a physical card and ATM withdrawals later this year, making stablecoins even more accessible for everyday spending.

The launch comes as banks, fintechs, payment networks, and remittance companies increasingly explore stablecoins as a faster and more flexible way to move money. Colombia could become an important market for this shift, particularly as demand grows for efficient cross-border payments and access to digital dollars.☕

Sam Bankman-Fried is taking his FTX fraud conviction to the U.S. Supreme Court, seeking to overturn his seven-count conviction and 25-year prison sentence. His legal team filed a petition after the Second Circuit unanimously upheld the conviction in June, arguing that key evidence was improperly handled during the original trial. The former FTX founder is also challenging an approximately $11 billion forfeiture order, making this his latest attempt to reverse the outcome of one of crypto’s biggest legal cases.

Bankman-Fried’s appeal focuses heavily on evidence presented at trial, including arguments that his defense was restricted from showing that FTX had sufficient assets to repay customers. His lawyers also argue that the $11 billion forfeiture violates constitutional protections against excessive financial penalties. The Supreme Court has not yet decided whether it will hear the case, meaning the petition could become the final major legal avenue available to the former FTX chief.

The case comes nearly four years after FTX collapsed and continues to carry significant implications for the crypto industry. Bankman-Fried’s conviction and sentence became a defining moment for crypto’s approach to governance, risk management, and investor protection, while his latest appeal keeps the FTX saga in the spotlight.☕

Stablecoins are gaining traction across global payments, but Denmark’s central bank is warning that rapid growth could eventually create financial risks. Danmarks Nationalbank said stablecoin use remains very limited in Denmark today, with no Danish krone-denominated stablecoin currently in circulation. However, the bank warned that wider adoption, particularly of dollar-backed tokens, could affect payments, financial stability, and the transmission of monetary policy.

The concern comes as stablecoins continue expanding through banks, fintechs, payment companies, and new financial applications. Dollar-denominated stablecoins already dominate the global market, meaning disruption in major tokens could potentially spread into traditional financial markets through liquidity and cross-border channels. Danmarks Nationalbank also stressed that central bank money should remain the primary settlement asset between banks as financial markets become increasingly tokenized.

The warning highlights a growing tension around stablecoins: the technology can make payments faster and more efficient, but its scale could also create new risks for traditional financial systems. As adoption accelerates, regulators are increasingly focused not only on how stablecoins work but also on what happens if they become a major part of the global monetary infrastructure.

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BitMine has expanded its Ethereum treasury to nearly 5.96 million ETH, worth around $14.9 billion, after purchasing another 27,180 ETH last week. The company now holds approximately 4.9% of Ethereum’s total supply, bringing it closer to its target of controlling 5% of all ETH. Around 85% of its holdings are currently staked

S&P Global has led a $110 million funding round for crypto market data firm Kaiko, with participation from major financial institutions including BNP Paribas, Nasdaq, RBC, Coinbase Ventures, and Susquehanna. The funding will support Kaiko’s expansion into institutional market data and infrastructure for tokenized assets,

The CLARITY Act is facing fresh opposition ahead of a crucial Senate procedural vote that could determine whether the long-awaited US crypto market structure bill moves forward. A coalition of 18 state attorneys general has urged lawmakers to reject the legislation, arguing that it could weaken states’ ability to oversee

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