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- BNB’s $1B plan meets political heat
BNB’s $1B plan meets political heat
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Trump ties, Warren’s pressure, and CZ’s bid to rebuild BNB’s future
Key points:
CZ unveiled the “B Strategy,” a US listed BNB Treasury concept aiming to raise $1B, while highlighting stablecoins and real world asset tokenization as growth pillars.
Senator Elizabeth Warren pressed the DOJ over Binance’s 2023 settlement, Trump family ties through World Liberty Financial, and pardon speculation for CZ.
News - In a talk with BNB Network Company’s David Namdar, Changpeng Zhao (CZ) described BNB’s evolution from an exchange token into the native asset of a multi chain ecosystem spanning BNB Smart Chain, Greenfield, and opBNB. He backed the “B Strategy,” a US listed BNB Treasury company targeting a $1B raise to hold digital assets and reinvest in infrastructure, developers, and community projects.
Zhao argued such a vehicle could give institutions regulated exposure to BNB. He also stressed that stablecoins and tokenized real world assets remain the ecosystem’s biggest opportunities, with USDT and USDC now launching natively on BNB Chain.
Politics and pardons - In Washington, the politics around Binance remain heated. Senator Elizabeth Warren accused the Department of Justice of dodging key questions about Binance’s compliance with its $4.3B plea deal. She cited reports that Trump’s administration may ease oversight, scale back the compliance monitor, or even consider a pardon for Zhao.
Central to her concerns are ties between Binance and World Liberty Financial, a DeFi company run by Trump’s sons that launched the USD1 stablecoin and facilitated a $2B Abu Dhabi investment.
Trump and his allies deny conflicts of interest, but speculation on a pardon drove Polymarket odds to 64% before retreating to 45%, while BNB briefly surged above $1,000 and overtook Solana in market cap.
Why it matters - BNB’s next growth phase hinges not only on institutional pathways but also on how Trump era politics, regulatory decisions, and potential pardons reshape confidence in the ecosystem.
Michigan revives Bitcoin Reserve Bill after seven-month pause
Key points:
Michigan’s House Bill 4087 advanced after seven months of dormancy, proposing up to 10% of state reserves be allocated to Bitcoin and other cryptocurrencies under strict security rules.
The Michigan Bitcoin Trade Council opposes the measure, warning that inclusion of non-Bitcoin assets could expose state funds to volatility.
News - Michigan lawmakers revived House Bill 4087, which would amend the Michigan Management and Budget Act to permit the state treasurer to invest up to 10% of stabilization and countercyclical funds in cryptocurrency.
Sponsored by Republican Representatives Bryan Posthumus and Ron Robinson, the bill cleared procedural hurdles this week and was referred to the Government Operations Committee for a second reading.
The legislation mandates stringent custody provisions: assets must be held through a secure custody solution, a qualified custodian such as a bank or trust company, or exchange-traded products from registered investment companies.
The state would also need exclusive control over private keys, diversified secure data centers, multiparty authorization, and regular independent audits. It even allows lending of crypto holdings to generate revenue, provided risks remain manageable.
Opposition and concerns - The Michigan Bitcoin Trade Council criticized the bill for not specifying a market capitalization threshold, arguing that it leaves room for speculative altcoins. The group insists reserves should be limited strictly to Bitcoin, citing its relative security and decentralized nature compared with other assets.
Broader trend - Michigan now joins states like Texas, New Hampshire, and Arizona that have enacted similar measures, while dozens of others consider their own.
At the federal level, the U.S. House recently directed the Treasury Department to study a national Bitcoin reserve. Globally, countries such as Pakistan and the Philippines are pursuing strategic Bitcoin reserves, reinforcing the momentum toward sovereign-level adoption.
Italy and Canada push for stricter stablecoin guardrails
Key points:
Bank of Italy’s Chiara Scotti warned that multi-issuance stablecoins pose legal, liquidity, and stability risks if issued outside the EU, urging tighter rules and cross-border protocols.
The Bank of Canada’s Ron Morrow pressed for a national framework, warning Canada risks falling behind as global stablecoin adoption accelerates.
News - At the Economics of Payments Conference in Rome, Bank of Italy deputy governor Chiara Scotti cautioned that stablecoins issued by multiple entities across jurisdictions could undermine the EU’s financial safeguards.
While Scotti acknowledged stablecoins’ efficiency and 24/7 usability, she said only tokens pegged to a single fiat currency are suitable for payments. She recommended restricting issuers to jurisdictions with equivalent standards, ensuring par redemption, and developing cross-border crisis protocols.
In Ottawa, Bank of Canada senior deputy governor Ron Morrow issued a parallel call. He told the Chartered Professional Accountants conference that stablecoins must be “as safe and stable as the balance in your bank account” before scaling nationally.
Canada, he warned, lags behind the U.S. and Europe, and without regulation could miss out on competitiveness gains. Current gaps in federal oversight leave Canadians exposed to higher remittance fees and systemic risks.
Global momentum - Stablecoins now facilitate trillions in annual payments, with daily transactions nearing $2.7 billion. Policymakers worldwide are tightening rules: the EU’s MiCA framework already imposes strict requirements, while the U.S. GENIUS Act has accelerated adoption of dollar-pegged tokens.
Australia’s ASIC recently offered licensing relief to stablecoin intermediaries, signaling further regulatory alignment across major markets.
Why it matters - The push from both Rome and Ottawa highlights a global regulatory race. Italy and Canada are signaling that without unified standards and strict guardrails, the promise of stablecoins could quickly turn into financial vulnerability.
Canada dismantles TradeOgre in record C$56M crypto seizure
Key points:
RCMP shut down TradeOgre after a Europol tip, seizing more than C$56 million in crypto and alleging widespread money laundering and failure to register with FINTRAC.
Authorities say this is Canada’s largest crypto seizure and the first time a domestic exchange platform has been dismantled; investigations continue and charges may follow.
News - Canada’s Royal Canadian Mounted Police (RCMP) confirmed they took TradeOgre offline and seized over C$56 million in digital assets, calling it the country’s largest crypto seizure to date.
Investigators allege the exchange operated outside Canadian law by avoiding registration with FINTRAC and not identifying clients, and said most funds moving through the platform came from criminal sources.
The probe began in June 2024 after a Europol tip and was led by the RCMP’s Money Laundering Investigative Team in the Eastern Region.
TradeOgre, known for privacy focused markets and Bitcoin Monero swaps, had been offline since July 30. A seizure notice is now posted on its website. RCMP said the exchange’s transaction data will be analyzed and that charges may follow. Digital assets seized reportedly include Bitcoin, Ethereum, XRP, Litecoin, Tron, and Qubic.
User backlash and recovery questions - Critics argue the takedown swept in funds from innocent users and call for clear recourse.
Privacy advocates warned that claiming assets can be lengthy and complex, citing past cases where strict documentation and valuation at the time of seizure limited recoveries. Supporters urged greater self custody, while analytics firms tracked large outflows in the lead up to the shutdown.
Context and comparisons - Coverage compared the case with enforcement against Tornado Cash, noting both platforms lacked KYC even though their designs differ.
In the U.S., one source notes sanctions on Tornado Cash were lifted following an appeals ruling that immutable smart contracts are not property, while separate proceedings have produced mixed outcomes for its developers.
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More stories from the crypto ecosystem
Crypto scams uncovered
The New York Attorney General’s office shut down an investment scam that targeted Russian-speaking New Yorkers through social media; victims were lured into fake crypto and investment deals promoted via deceptive ads, losing millions of dollars.
The U.S. Department of Justice seized $225.3 million in cryptocurrency tied to “confidence scams” (aka pig-butchering), involving over 400 victims; funds traced through a money-laundering network using Tether tokens.
AI-aided pig-butchering ring on the Thailand–Myanmar border: Scammers used ChatGPT to impersonate U.S. investors and trick real estate agents into fake cryptocurrency investment schemes; workers (including trafficked individuals) were forced to meet fraud quotas.
Top 3 coins of the day
NEAR Protocol (NEAR)
Key points:
NEAR was priced at $3.24 in the latest session, advancing 2.11% over the past 24 hours.
The Madrid Ribbon stayed supportive beneath price action, while the RSI hovered in overbought territory at 72.46 alongside rising volumes.
What you should know:
NEAR extended its rally during the most recent session, with price holding comfortably above the Madrid Ribbon, which continued to back the bullish trend. The RSI climbed past 70 to mark overbought conditions, while trading volumes rose noticeably, confirming stronger market activity. Beyond the charts, NEAR’s fundamentals have gained traction through its September 16 integration with Allora Network’s decentralized AI layer, expanding its capabilities in predictive infrastructure. In addition, cross-chain adoption has strengthened since TRON<>NEAR swaps went live earlier this month, boosting liquidity flows across supported assets. Market participants may now keep a close eye on the $3.30–3.32 zone as immediate resistance, while the $3.00 region offers a critical layer of support.
VeChain (VET)
Key points:
At the time of writing, VET traded at $0.0256, marking a 1.23% decline in the past 24 hours.
The price closed slightly above the upper Bollinger Band, while the Squeeze Momentum Indicator showed strengthening bullish bars.
What you should know:
VET traded lower overall in the past session but still managed to push above the upper Bollinger Band, a sign of strong buying pressure despite the daily red close. The Squeeze Momentum Indicator confirmed this trend shift as its green bars extended further, pointing to emerging bullish momentum. Volume remained steady but has yet to revisit the sharp inflows observed in July. On the fundamentals side, VeChain continued to benefit from institutional adoption after Franklin Templeton added VET to its tokenized U.S. Treasury fund earlier this year. Meanwhile, its StarGate staking program has locked billions of tokens, reducing circulating supply while sustaining yields for participants. Traders will now be eyeing the $0.0267 zone as immediate resistance, with $0.0244 acting as nearby support.
Avalanche (AVAX)
Key points:
AVAX changed hands at $34.34 in the latest session, slipping 2.42% from the previous day’s close.
The RSI hovered at 74.57 in overbought territory, while the MA cross maintained a bullish structure.
What you should know:
Avalanche experienced selling pressure after reaching an intraday high of $35.81, with price action retreating to $34.34. Trading volume stood at 3.22M, showing steady market participation. The 20/50-day MA cross remained bullish, supporting the ongoing uptrend, though the RSI reading near 75 signaled overbought conditions. A retest of $33 could act as a support zone, while a decisive break above $35.33 may open room for $38.88 in the near term. From a catalyst perspective, AVAX recently benefited from South Korea’s KRW1 stablecoin launch on its network, alongside speculation over Grayscale’s ETF conversion. These developments bolstered adoption narratives and institutional interest, amplifying price momentum. While fundamentals remain supportive, the elevated RSI suggests traders should monitor consolidation risks before the next breakout attempt.
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