Flash News

TREE NEWS update: Prediction market Kalshi plans to file with the CFTC as early as next week for a never-expiring futures contract on West Texas Intermediate crude, a source told Reuters. The 24/5 perpetual contract would allow continuous trading on oil prices without expiry dates.

TREE NEWS update: The CFTC asked a Washington federal court to dismiss CME’s lawsuit over Kalshi’s bitcoin perpetual futures, arguing CME lacks standing to claim competitive injury because nothing prevents it from listing such products itself. The regulator’s motion challenges CME’s assertion of harm from Kalshi’s rival offering.

TREE NEWS update: Payward, the parent company of crypto exchange Kraken, now plans to list its shares on the stock market by mid-2027. The listing will not occur before the second quarter of 2027, extending a delay that began in March.

TREE NEWS update: New Jersey’s attorney general filed the first certiorari petition over Kalshi’s sports contracts, asking the Supreme Court to resolve a split between two federal appeals courts on whether states can regulate sports event contracts. The petition marks a significant step in the ongoing legal battle over prediction markets and state regulatory authority.

TREE NEWS update: Australia’s ASIC warned that crypto companies relying on temporary regulatory relief must apply for an Australian financial services license or amend an existing one by September 30, or face fines up to 10% of annual turnover. Firms requiring market or clearing and settlement licenses must also notify the regulator and attend pre-application meetings. From October 1, non-compliant firms may breach financial services laws and face civil and criminal penalties. ASIC has recorded over 45 digital asset-related license applications since updating guidance in October 2025.

TREE NEWS update: Montage Technology said in an investor relations filing that it began trial production of its CXL 3.2 MXC chip in July, the industry’s first, and has successfully integrated it into Samsung and SK Hynix’s next-generation CXL products. The company expects 2027 to mark the first year of large-scale CXL commercialization. Its PCIe Switch chip is slated to complete engineering sample tape-out within the year.

TREE NEWS update: ASIC has recorded over 45 digital asset-related license applications as its temporary enforcement relief nears Sept. 30 expiration. The regulator warns unlicensed crypto firms of fines up to 10% of annual turnover, signaling stricter oversight ahead.

TREE NEWS reports: Trader BonkGuy (Unipcs) said on Sept 3 that MARSCOIN reminds him of SAFEMOON on BNB Chain in 2021, which once reached a $17B market cap, but MARSCOIN has a stronger narrative combining Musk, CZ, Mars, and SpaceX. He noted MARSCOIN holders earn SPCXB rewards linked to SpaceX-tokenized assets. Data shows he holds about 24.9M MARSCOIN worth $2.51M, with unrealized gains of $1.55M.

TREE NEWS reports: Ether ETFs saw $48 million in outflows on Wednesday, ending a 12-day streak that had attracted $1.62 billion. XRP funds also halted an 11-session inflow run. Meanwhile, Bitcoin funds rebounded, though specific figures were not provided.

TREE NEWS reports: Bitcoin broke above 78,000 USDT on OKX, trading at 78,009.7 USDT, a 0.49% increase over 24 hours. The move marks the latest price action for the largest cryptocurrency as it continues to hover near recent highs.

TREE NEWS update: Upbit Singapore will list USDG (Global Dollar), a Solana-based stablecoin issued by Paxos, on its USDT market at 15:00 SGT on September 4. For the first five minutes after listing, sell orders will be restricted, and sell orders below 10% of the reference price will be rejected. USDG is pegged 1:1 to the US dollar.

TREE NEWS update: Guoke Photonics (Haining) Technology Co., Ltd. announced the completion of a Series B+ financing round of hundreds of millions of yuan. The round was led by Sichuan Science and Technology Innovation Investment Group, with participation from Hangzhou Caitai Capital and Shandong Science and Technology Innovation Group. Proceeds will fund development of next-gen silicon photonics products, expansion of its data communications subsidiary, and overseas delivery centers.

TREE NEWS update: Hyperscale Data has closed its Michigan bitcoin mining operations to convert the site into an AI data center, with all miners powered down and equipment slated for sale. The company said a client has signed a 20 MW AI compute contract for 10 years (with two 5-year renewal options), expected to generate over $1.2 billion in revenue over 20 years, and an additional 32 MW option could push potential revenue above $3 billion. To fund the transition, Hyperscale sold bitcoin, cutting its holdings from about 1,006 BTC at end-July to 215 BTC (down ~79%), ranking 84th among public companies. Shares fell about 17% Wednesday to $0.1984, a post-split record low.

TREE NEWS update: Ledger is facing a class action lawsuit over its December 2023 data breach, filed today. Plaintiffs allege the company downplayed the severity and failed to disclose the incident timely, exposing customer names, emails, and phone numbers that ended up on the dark web. The suit cites a 2020 breach of 270,000 customers, calling the pattern ‘egregious’ and accusing Ledger of negligent and reckless security practices.

TREE NEWS update: Russia’s September 1 law on digital currencies only partially took effect, covering cross-border transfers, while domestic crypto trading remains on hold pending key regulations. The central bank said all necessary documents should be ready by early December. Market participants note infrastructure is largely prepared, with Sberbank planning to complete its digital custodian by December 1 and Finam expecting to offer services in early 2027. Central bank governor Nabiullina said transfers abroad are unrestricted but warned investors that foreign operations lack Russian legal protection.

TREE NEWS reports: On Sept 2, memecoin JINQIAN surged to an $80 million market cap within an hour on Robinhood Chain, then plunged to $10 million the next hour, now near $3 million. The token paired with FAMI, a non-official token tied to Nasdaq-listed Farmmi, which rose 300% intraday. The scheme’s promoter Rune later claimed his stock purchase post was AI-generated. Analysts say the short-squeeze narrative was flawed as no real stock buying occurred.

TREE NEWS update: US Attorney General Todd Blanche said on X that cybercriminals launched password reset attacks against hundreds of thousands of X users this week. X successfully blocked the attacks to prevent account hijacking, and the DOJ is working closely with X to track down the attackers.

TREE NEWS update: Hyperscale Data has ended its Bitcoin mining operations in Michigan, with its BTC holdings falling about 79% since late July to 215 BTC. The company is redirecting capital toward its Michigan AI data center.