Read in-depth analysis of crypto news
Odaily News: A report by the Cornell Brooks School Tech Policy Institute (BTPI) shows that if the US implements a de minimis exemption for bitcoin and cryptocurrency payments under $300, federal net revenue is projected to increase by $859 million over 10 years, with a range of $172 million to $2.58 billion. The estimates assume that the number of digital asset payment users remains at 5.4 million.
US Senator Cynthia Lummis has proposed S. 2207, which would exempt capital gains taxes on such payments, with an annual cap of $5,000 in tax-exempt capital gains. Some other legislative initiatives propose limiting the exemption to regulated stablecoins, and discussions are ongoing.
BTPI stated that current capital gains taxes and reporting requirements for small transactions discourage everyday bitcoin payments. Eliminating transaction-level tax and reporting burdens could increase bitcoin payments and demand; at current adoption levels, the near-term impact on bitcoin prices and tax revenue may be small, while the long-term impact depends on factors such as payment volume. (Bitcoin.com News)
Odaily News: Strategists at JPMorgan Securities Japan said that a stronger yen is expected to ease upward pressure on Japanese government bond yields, potentially accelerating the recovery of AI and semiconductor sectors listed in Tokyo. Strategists including Rie Nishihara wrote in a report that the real estate sector, which has recently underperformed, could also benefit. Some sectors are facing the negative impact of yen appreciation on earnings, such as transportation, logistics, and automotive industries. JPMorgan's view on the potential rise of Tokyo's AI and semiconductor sectors contrasts with Saxo Bank's global equity view on the sector. Saxo strategist Charu Chanana previously stated that a rebound in the yen could trigger the unwinding of some crowded and leveraged positions. (Jin Shi)
Odaily News: Solana ecosystem cat-themed Meme coin Anonymous Cat (ZCAT) has cumulatively distributed approximately 2,320 ZEC to eligible holders through its transaction tax mechanism, valued at about $2.75 million at the latest price, with over 470,000 rewards completed. ZCAT charges a 3% transaction tax on each transfer, with most of the funds being converted into Zcash (ZEC) and then distributed to addresses holding at least $20 worth of ZCAT.
As ZEC has recently risen, the size of ZEC rewards received by ZCAT holders has increased. These ZEC do not come from business revenue but from transaction taxes generated by other users buying, selling, and transferring ZCAT. Therefore, the reward size depends on ZCAT's own trading activity; when trading volume declines, the ZEC rewards received by holders will also decrease.
Odaily News: Solana co-founder Anatoly Yakovenko said on X that he looks forward to seeing a Jupiter transaction from NVDA to SPCX via Fartcoin, which would ultimately determine the NBBO (National Best Bid and Offer) price for all U.S. brokerages.
Odaily News: SOPH fell continuously after hitting a high yesterday, reaching a low of $0.005145 this morning, a decline of about 62.27% from yesterday's high of $0.013637.
A whale went long on SOPH near the low yesterday. At 01:48 yesterday, SOPH hit a low of $0.004645; 17 minutes later, the address began going long, with the first trade at $0.004736, less than 2% from the low. Subsequently, the address added positions in two rounds during the uptrend, eventually expanding its long position to 157.92 million SOPH, with a cumulative opening transaction value of about $1.0421 million and an average entry cost of about $0.006599.
SOPH then rose, reaching $0.011467 at 13:30 yesterday, up about 147% from the early morning low; at 13:33, the address's floating profit reached about $740,700. Starting at 13:35 yesterday, SOPH fell from $0.011304 to $0.00936 within 5 minutes, a single 5-minute drop of 17.20%; subsequently, the price again experienced a single 5-minute drop of 12.52%, and continued to decline to this morning's low. During this period, the address did not close its original long position.
At 08:57 today, the address initiated a 12-hour TWAP to sell 100 million SOPH in batches. The first closing trade was at $0.00525, below the average holding cost of $0.006599. As of press time, the address has sold about 13.6017 million SOPH, realizing a trading loss of about $16,400; the remaining long position of about 144.31 million SOPH is valued at about $769,900, with a floating loss of about $182,400.
Odaily News: On September 9, the B.AI platform announced that its cumulative registered users officially surpassed 2,400,612, marking a new growth record as it jumped from 2.3 million to over 2.4 million. The rapid achievement of consecutive milestones not only reflects the high trust of global developers and users in B.AI but also confirms the accelerating arrival of the era of AI for all. As the infrastructure for the AI Agent era, B.AI is promoting the efficient circulation and sharing of intelligent computing power at an unprecedented pace. From lightweight experiments to large-scale production-grade applications, more and more innovations are being rapidly incubated and implemented based on B.AI.
B.AI will continue to leverage its platform value as the "intelligent global settlement layer," ensuring that every call is efficiently routed, accurately measured, and fairly settled.
Odaily News: StoneX Financial initiated coverage on Robinhood with a Buy rating and a $170 price target, implying approximately 45% upside from Tuesday's closing price of $117.34.
StoneX noted that Robinhood Chain's daily fees reached approximately $4.59 million as of Sept. 3, and it expects the chain to generate $980 million in revenue by fiscal 2029, with a profit margin of 85%. Additionally, Robinhood's prediction market traded 13.6 billion event contracts in the second quarter, generating approximately $156 million in revenue, up 50% quarter-over-quarter. (The Block)
Odaily News: Paolo Ardoino posted on X that the Tether P2P team is developing a peer-to-peer search engine that can scale to thousands of nodes, achieving high availability and censorship resistance through a self-organizing fault-tolerant data structure. In the current test environment, the complete Wikipedia archive has been distributed across 100 nodes and supports search.
Odaily News: According to on-chain analyst Ai Yi's monitoring, Multicoin Capital has reportedly sold 1.725 million HYPE tokens worth $133 million since July 28, with an estimated profit of $77.15 million. Its most recent deposit occurred 9 hours ago, with a cost price of approximately $32.32 and an average deposit price of $77.03. The firm still holds HYPE tokens worth $60.29 million on-chain.
Odaily News: According to GMGN data, major Meme coins in the Robinhood ecosystem continue to decline. MEME's market cap is currently reported at $88.3 million, down 23.6% in 24 hours; CASHCAT's market cap is reported at $188 million, down 4.6% in 24 hours; AI's market cap is reported at $244 million, down 4.8% in 24 hours; BONER's market cap is reported at $44.7 million, down 25.7% in 24 hours; microduck's market cap is reported at $17.3 million, down 9.5% in 24 hours.
