Daily news roundup covering Hyperliquid's $429M revenue, ZetaChain's migration to Solana, regulatory developments, and tech giant stablecoin hiring.
Regulation & Gov ·
Hyperliquid topped CoinGecko's ranking of crypto projects by revenue for the year, recording $429 million in total earnings. Meanwhile, ZetaChain's community voted to migrate its ZETA token to Solana, with 99.4% approval in the vote. In corporate capital deployment, Strategy acquired 950 additional BTC and repurchased $174 million in preferred stock, raising its Bitcoin holdings to 846,000 coins as of September 20, alongside approximately $6.09 billion in USD assets.
Regulatory and competitive dynamics shifted this week as Goldman Sachs indicated that an SEC innovation exemption could benefit Coinbase, Robinhood, and Circle. Large technology firms have also moved into financial services territory, with Apple and Google hiring for stablecoin-related positions. Questions remain about the scope and timeline of those hiring efforts and whether they signal imminent product launches or exploratory initiatives.
Trading volumes and legacy figures added texture to the week's developments. Kalshi faced wash-trading allegations from a former quant trader, while a French crypto worker's family was kidnapped in a crime that remains under investigation. Additionally, Uniswap's founder disclosed that Sam Bankman-Fried had purchased the Uniswap.com domain for a seven-figure sum.