Bankruptcy recovery efforts accelerated as FTX announced its third creditor distribution totaling $1.6 billion. Meanwhile, institutional cryptocurrency infrastructure expanded through BitGo’s public offering filing.

Bankruptcy recovery efforts accelerated as FTX announced its third creditor distribution totaling $1.6 billion. Meanwhile, institutional cryptocurrency infrastructure expanded through BitGo’s public offering filing.

FTX prepares third creditor payment installment

FTX prepares third creditor payment installment

• The collapsed exchange’s recovery trust announced that four creditor groups will receive $1.6 billion on September 30.

The collapsed exchange’s recovery trust announced that four creditor groups will receive $1.6 billion on September 30.

• Payment percentages range from 78% to 120% of the original holdings value when the exchange ceased operations.

Payment percentages range from 78% to 120% of the original holdings value when the exchange ceased operations.

BitGo advances toward public market debut

BitGo advances toward public market debut

• The cryptocurrency custodian filed its inaugural S-1 registration statement with the SEC.

The cryptocurrency custodian filed its inaugural S-1 registration statement with the SEC.

• The firm plans to list Class A common stock on the New York Stock Exchange under ticker BTGO.

The firm plans to list Class A common stock on the New York Stock Exchange under ticker BTGO.

• Financial disclosures revealed the company generated $4.19 billion in revenue during the first half of 2025.

Financial disclosures revealed the company generated $4.19 billion in revenue during the first half of 2025.

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X pursues legal action against bribery network

X pursues legal action against bribery network

• The Elon Musk-owned social media platform is taking legal action against banned users, including cryptocurrency scammers, who attempted to bribe employees for account restoration.

The Elon Musk-owned social media platform is taking legal action against banned users, including cryptocurrency scammers, who attempted to bribe employees for account restoration.

• Platform officials connected the bribery activities to broader criminal organizations.

Platform officials connected the bribery activities to broader criminal organizations.

YZi Labs expands Ethena investment position

YZi Labs expands Ethena investment position

• Former Binance CEO Changpeng Zhao’s family office increased its stake in Ethena (ENA) Labs, creator of the USDe synthetic dollar stablecoin.

Former Binance CEO Changpeng Zhao’s family office increased its stake in Ethena (ENA) Labs, creator of the USDe synthetic dollar stablecoin.

• The investment aligns with Ethena’s plans to expand operations on BNB Chain.

The investment aligns with Ethena’s plans to expand operations on BNB Chain.

Ethereum developers schedule Fusaka upgrade

Ethereum developers schedule Fusaka upgrade

• Ethereum (ETH) Core development teams confirmed a tentative December timeline for the network’s next major upgrade during Thursday’s All Core Developers Consensus call.

Ethereum (ETH) Core development teams confirmed a tentative December timeline for the network’s next major upgrade during Thursday’s All Core Developers Consensus call.

• The Fusaka upgrade targets blockchain scaling improvements, with subsequent changes planned to more than double blob capacity in following weeks.

The Fusaka upgrade targets blockchain scaling improvements, with subsequent changes planned to more than double blob capacity in following weeks.

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America’s first spot Dogecoin ETF begins trading

America’s first spot Dogecoin ETF begins trading

• The Rex Financial and Osprey Funds jointly managed product went live on Thursday morning on the Cboe BZX exchange under the ticker DOJE.

The Rex Financial and Osprey Funds jointly managed product went live on Thursday morning on the Cboe BZX exchange under the ticker DOJE.

• This spot fund provides direct exposure to current Dogecoin (DOGE) prices rather than futures or derivative instruments.

This spot fund provides direct exposure to current Dogecoin (DOGE) prices rather than futures or derivative instruments.

Australia approves stablecoin distribution exemption

Australia approves stablecoin distribution exemption

• The Securities and Investment Commission granted a class exemption allowing licensed intermediaries to distribute stablecoins without individual regulatory approvals.

The Securities and Investment Commission granted a class exemption allowing licensed intermediaries to distribute stablecoins without individual regulatory approvals.

• This policy addresses exchanges, brokers, and platforms that carry out stablecoin trading without creating the tokens themselves.

This policy addresses exchanges, brokers, and platforms that carry out stablecoin trading without creating the tokens themselves.

SEC streamlines cryptocurrency ETF approval process

SEC streamlines cryptocurrency ETF approval process

• The commission approved new rules Wednesday enabling exchanges to list spot commodity ETPs, including cryptocurrencies, without individual agency review for each product.

The commission approved new rules Wednesday enabling exchanges to list spot commodity ETPs, including cryptocurrencies, without individual agency review for each product.

• This procedural change removes the lengthy 19(b) rule filing process that previously required up to 240 days and active SEC approval or disapproval.

This procedural change removes the lengthy 19(b) rule filing process that previously required up to 240 days and active SEC approval or disapproval.

Circle integrates with Hyperliquid platform

Circle integrates with Hyperliquid platform

• The stablecoin issuer introduced native USDC support to the largest decentralized derivatives trading platform while making its first HYPE (HYPE) token investment.

The stablecoin issuer introduced native USDC support to the largest decentralized derivatives trading platform while making its first HYPE (HYPE) token investment.

• This integration establishes Circle as a “direct stakeholder” in the platform through token ownership.

This integration establishes Circle as a “direct stakeholder” in the platform through token ownership.

Google launches AI payment protocol

Google launches AI payment protocol

• The technology giant released an open-source protocol enabling artificial intelligence applications to send and receive payments, including stablecoin support.

The technology giant released an open-source protocol enabling artificial intelligence applications to send and receive payments, including stablecoin support.

• The system accommodates digital tokens pegged to fiat currencies such as the US dollar.

The system accommodates digital tokens pegged to fiat currencies such as the US dollar.

Strategy records minimal Bitcoin acquisition

Strategy records minimal Bitcoin acquisition

• The treasury company purchased 525 Bitcoin (BTC) worth $60 million in its smallest monthly acquisition.

The treasury company purchased 525 Bitcoin (BTC) worth $60 million in its smallest monthly acquisition.

• This brings Strategy’s total holdings to approximately 639,000 Bitcoin.

This brings Strategy’s total holdings to approximately 639,000 Bitcoin.

Bitcoin Bottom Day

Bitcoin Bottom Day

• Sunday, Sept. 21, is being hyped as a key date for the crypto’s trajectory. Economist Timothy Peterson dubbed it “Bitcoin Bottom Day,” noting the coin typically ends the year higher about 70% of the time after this date, with a median gain of 50%.

Sunday, Sept. 21, is being hyped as a key date for the crypto’s trajectory. Economist Timothy Peterson dubbed it “Bitcoin Bottom Day,” noting the coin typically ends the year higher about 70% of the time after this date, with a median gain of 50%.

• He now sees a 90% chance of upside and almost certainty of higher prices six months out, calling $100,000 a likely permanent floor.

He now sees a 90% chance of upside and almost certainty of higher prices six months out, calling $100,000 a likely permanent floor.

• If Peterson’s thesis holds, Sept. 21 could mark a defining inflection point, setting the stage for Bitcoin’s next major rally.

If Peterson’s thesis holds, Sept. 21 could mark a defining inflection point, setting the stage for Bitcoin’s next major rally.

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Read more: Ethereum price targets $5k as ETH ETF inflows jump by $556m