Weekly Update: 26th of September
What happened between the 19th and 26th of September?
- The digital assets market is undergoing a correction, resulting in over $3 billion in liquidations, primarily from long positions in Bitcoin and Ethereum. Read more
- The CFTC is exploring the use of tokenized collateral in derivatives markets, potentially improving capital efficiency and bridging DeFi with traditional finance. Read more
- Tether is looking to raise $20 billion at a $500 billion valuation, potentially making it one of the largest companies in the world, on par with OpenAI. Read more
- Ripple’s stablecoin RLUSD is being integrated by BlackRock and VanEck, alongside the launch of the first tradable XRP ETF. Read more
- Support among U.S. Democrats is growing for the Market Structure Bill, which could lead to clearer legislation and regulation for the crypto market. Read more
Large liquidations after crypto correction
This week, the crypto market faced one of the largest liquidation waves of 2025. In approximately 24 hours, more than $3 billion in positions were liquidated, primarily consisting of long positions in Bitcoin and Ethereum. The selloff demonstrated how fragile market sentiment can be when leveraged positions rise excessively. While not new to crypto, this type of flush is often necessary to create a more stable foundation for continued growth.
CFTC explores tokenized collateral in derivatives markets
The U.S. regulator CFTC is currently exploring the use of tokenized collateral, including stablecoins, in derivatives markets. This initiative aims to bridge traditional derivatives infrastructure with blockchain-based collateral models.
It could help modernize margin structures and improve capital efficiency. If the exploration proves successful, this may mark another step in market tokenization, with stablecoins playing an increasingly central role in institutional workflows.
Tether targets $20B raise at $500B valuation
Tether is reportedly looking to raise $15-20 billion in a funding round at a $500 billion valuation. Such a valuation would instantly place the company among the world’s largest, with its founder ranking among the richest individuals globally.
The numbers are striking: last quarter alone, Tether reported $4.9 billion in profits, achieved with a lean team of only 100-150 employees. This illustrates the immense potential of crypto-native business models, but also raises questions about whether such a funding round is truly necessary.
BlackRock & VanEck integrate Ripple’s RLUSD via Securitize
This week, Ripple and tokenization platform Securitize announced that RLUSD, Ripple’s USD stablecoin, will be integrated as an off-ramp into BlackRock’s BUIDL and VanEck’s VBILL tokenized funds. Investors will be able to redeem fund shares into RLUSD at any time, enabling 24/7 on-chain liquidity. In parallel, the first XRP ETF was launched this week, not through a traditional exchange listing, but via a blockchain-native mechanism. A true XRP ETF, similar to Bitcoin and Ethereum ETFs, remains under SEC review.
Democrats consider support for the Market Structure Bill
In Washington, support is growing among Democrats for a new Market Structure Bill aimed at clearer and more structured regulation of the crypto market. The bill would define frameworks around exchange operations, liquidity provision, price formation, and oversight of settlement infrastructure. If passed with bipartisan backing, it could become a regulatory milestone, giving institutions the legal clarity they need to innovate. For investors, this could open the door to increased institutional adoption under defined legal frameworks.
In other digital assets news
- MetaMask, the world’s largest crypto wallet provider, has confirmed plans to launch its own token.
- Binance founder CZ has introduced perpetual DEX Aster, which reached a $2 billion valuation in record time, posing direct competition to Hyperliquid.
- Nine European banks, including ING, are collaborating to launch a MICA-compliant euro stablecoin.
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