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KB Kookmin Bank will launch a payment service for import and export companies using JPMorgan’s blockchain-based payments network, Digital Asset reported. According to JPMorgan on Sept. 2, local time, the bank is launching the service through the blockchain deposit account network of "Kinexys by J.P. Morgan." JPMorgan said KB Kookmin Bank is the first South Korean financial institution to use the BDA network for trade-related corporate payments. The service will be available through KB Kookmin Bank’s domestic branches and its Singapore branch, covering remittances to 10 countries including South Korea, the U.S., Singapore, Saudi Arabia, India, Thailand, Qatar, the UAE, Bahrain, and South Africa. The service will initially support U.S. dollar remittances.

Bitcoin could rise to between $250,000 and $840,000 over the next three to five years as institutional adoption broadens, U.S. bitcoin financial services firm River said in a report. River said only about 4% of the global population currently holds Bitcoin, while institutional investors managing roughly half of global financial assets have begun adding BTC more actively since the launch of U.S. spot Bitcoin ETFs in 2024. Among the top 30 U.S. registered investment advisers, 29 hold Bitcoin, but the median BTC allocation in portfolios stands at only about 0.1%, according to the report. River estimated that if 20% to 40% of total investment portfolios adopt Bitcoin over the next three to five years and average BTC allocations expand to 2% to 4%, between $1.3 trillion and $5.3 trillion could flow into BTC, implying a price range of $250,000 to $840,000.

U.S. spot Ethereum ETFs posted about $48.2 million in net outflows on Sept. 2, snapping a 12-session inflow streak and marking the first net outflow in 13 trading days, according to Farside Investors. - BlackRock ETHA: -$53.4 million - BlackRock staking ETHB: +$52.9 million - Fidelity FETH: -$26.2 million - 21Shares TETH: +$2 million - Grayscale ETHE: -$23.5 million

U.S. spot Bitcoin ETFs recorded a combined net inflow of about $101.1 million on Sept. 2, reversing from net outflows after one trading day, according to Farside Investors. - BlackRock IBIT: +$115.4 million - Bitwise BITB: +$4.2 million - Morgan Stanley MSBT: +$7.3 million - Grayscale GBTC: -$56.2 million - Grayscale Mini BTC: +$30.4 million

Bloomberg ETF analyst Eric Balchunas said Bitcoin’s correlation with U.S. stocks over the past six months was lower than that of gold, small-cap stocks, emerging-market equities and U.S. Treasuries. He said the trend suggests Bitcoin has shown some degree of decoupling from the U.S. stock market recently, meaning it does not always move in close lockstep with risk assets such as equities and has recently had weaker ties to U.S. stocks than other major asset classes.

A Michigan court has issued a preliminary injunction requiring prediction market platform Kalshi to continue blocking in-state users from betting on sports event contracts, The Block reported. The order converts a temporary restraining order issued in June into a preliminary injunction that will remain in effect while the related lawsuit proceeds. Under the order, Kalshi must use a geolocation-based blocking system to prevent Michigan residents and users located in the state from betting on sports event contracts. Violations could trigger fines of $500,000 per day.

The following shows estimated liquidation volumes and position ratios for major crypto perpetual futures over the past 24 hours: - BTC: $53.19 million liquidated (51.34% shorts) - ETH: $53.32 million liquidated (63.61% longs) - AKE: $29.76 million liquidated (91.24% shorts)

A newly created address bought 94,150 HYPE from FalconX, worth about $7.68 million, according to Onchain Lens.

An anonymous whale deposited 39,500 ETH worth about $95 million to an exchange, AmberCN reported. Since Aug. 30, the wallet has deposited a total of 142,800 ETH worth $345 million to exchanges over four days. It currently holds 29,735 ETH worth $70.9 million.

South Korea’s Financial Services Commission plans to operate a task force on digital asset ecosystem infrastructure through 2028, suggesting the actual implementation of the country’s proposed Basic Digital Asset Act may not be possible until around then, Maeil Business Newspaper reported. According to the FSC’s 2026 regular National Assembly report submitted on Sept. 3, the agency said it will prepare the main contents of the Basic Digital Asset Act this year through the Virtual Asset Committee and consultations between the government and the ruling Democratic Party. The report added that, in preparation for the law’s enactment and implementation, the FSC will run a task force through 2028 to prepare subordinate regulations and build related infrastructure for the digital asset ecosystem, including industry associations.

Colombian fintech startup Plenti raised $3 million in a funding round, Crypto Briefing reported. Tether (USDT) and Verda Ventures participated in the round. Plenti plans to use the funds to combine traditional financial payments and banking infrastructure with its existing crypto-focused services, while expanding digital asset offerings including USDT and XAUT.

Concerns over consistency and tax fairness in South Korea’s planned virtual asset taxation regime, set to take effect next year, point to the need for a tax framework tailored to the characteristics of crypto assets, The Asia Business Daily reported. Speaking at a forum on reviewing the 2027 virtual asset tax system held at the National Assembly at 1:00 a.m. UTC today and hosted by the office of Democratic Party lawmaker Moon Jin-seok, Park Jong-soo, head of the Korea Tax Law Association, said crypto assets should be assessed not as a single asset class but by separating them according to their transaction functions. The forum also raised questions about fairness relative to stocks. Participants said virtual assets and equities differ in their legal nature and investor protection frameworks, and therefore do not necessarily need to be treated in the same way.

BitMEX co-founder Arthur Hayes said an expansion in U.S. Federal Reserve liquidity provision could act as an upside driver for the crypto market and projected ETH would reach $10,000 by year-end. In a recent commentary, Hayes said selling pressure in French government and bank bonds could lead French banks to scale back funding in the repo market. Hayes added that if that pushes up U.S. Treasury financing costs and triggers hedge fund deleveraging, the Federal Reserve Bank of New York could expand its repo operations, increasing the Fed’s balance sheet by about $10 billion a month. Hayes said an increase in dollar liquidity during that process would expand global fiat liquidity, with the crypto market likely to benefit relatively quickly.

Decentralized perpetual futures exchange EDGE said it has been selected as the flagship FX perpetual futures exchange in the ecosystem of Arc, Circle’s CRCL USDC-optimized layer-one blockchain. Starting on Sept. 16, the local-time launch date of the Arc mainnet, EDGE plans to offer 24/7 FX perpetual futures trading beginning with USD/JPY, along with more than 150 perpetual futures products tied to U.S. stocks, commodities and cryptocurrencies. The exchange also plans to add major FX pairs in stages and introduce perpetual futures and FX spot markets using non-dollar fiat-backed stablecoins as collateral. Earlier, Circle Ventures made a strategic investment in the EDGE team in February.

Bitcoin mining pool OCEAN has officially ended support for the BIP-110 chain, Bitcoin News reported. OCEAN said it will no longer support the hard fork or pay related mining rewards, citing weak mining activity on the BIP-110 chain and a shift in its proof-of-work algorithm to BLAKE2b. The chain has been effectively inactive since a UASF attempt failed on Aug. 8, and mining rewards generated after the split have remained frozen because they did not secure the 100 confirmations needed for use. OCEAN directed miners who want to continue BIP-110 mining to use CONVOY, which is expected to support the BLAKE2b hard fork. BIP-110 is a proposal aimed at limiting non-payment data that can be inserted into Bitcoin transactions, reducing the use of inscriptions and Runes while easing the burden on nodes.

The team behind the TRUMP memecoin deposited 800,000 TRUMP into Binance, worth about $1.74 million, AmberCN said. Total TRUMP deposits to exchanges have now reached 2.8 million tokens, valued at about $6.52 million.

Decentralized prediction market Kalshi is seeking regulatory approval for perpetual futures contracts tied to West Texas Intermediate crude oil prices, Cointelegraph reported. The move would apply a trading structure commonly used in crypto to the traditional energy market.

An anonymous whale wallet beginning with 0x6436 bought 430,224 HYPE worth $35.1 million, according to Lookonchain.

The U.S. Commodity Futures Trading Commission has asked a federal court to dismiss CME Group’s lawsuit challenging approval of Kalshi’s Bitcoin perpetual futures contracts, according to Crypto Briefing. The CFTC described the case as baseless and said CME chose litigation over competition. At the center of the dispute is whether Bitcoin perpetual futures contracts qualify as futures products or swaps, a classification that would determine the applicable regulatory framework. For CME Group, a ruling that the contracts are not classified as swaps could threaten its existing position in the U.S. derivatives market.

Prediction market platform Kalshi has halted markets tied to athletes’ injury timelines and game availability at the request of the U.S. Commodity Futures Trading Commission, Sportico reported. Kalshi had offered contracts this year on the timing of injuries and returns for high-profile players including Luka Doncic and Anthony Edwards, and recently expanded products forecasting whether NFL players would suit up.

The Reserve Bank of Australia has launched a consultation on how the central bank’s information and funds transfer systems could be used in the payment and settlement process for the tokenized ecosystem, BlockBeats reported. The consultation is intended to gather stakeholder views on how related services could support Australia’s tokenized asset market and the development of private digital currencies. The RBA had previously studied tokenized-asset settlement using stablecoins, bank-issued deposit tokens and pilot central bank digital currencies through Project Acacia.

A whale that began unstaking 2.886 million HYPE in late July deposited 969,000 HYPE worth $79.18 million to Coinbase Prime and FalconX about 20 minutes ago, AmberCN reported. Over the past month, the whale began selling at around $64.9 per token, generating about $132 million in profit.

CoinMarketCap’s Altcoin Season Index rose 11 points from yesterday to 33. The index is calculated by comparing Bitcoin’s price performance with that of the top 100 cryptocurrencies by market capitalization, excluding stablecoins and wrapped coins. A CoinNess analysis shows the market is considered to be in altcoin season when 75% of the top 100 coins have outperformed Bitcoin over the past 90 days, and in Bitcoin season in the opposite case. The closer the index is to 100, the more strongly it points to altcoin season.

The spot CVD chart is an order-book analysis chart for the BTC/USDT spot trading pair. The upper section shows the volume heatmap, while the lower section shows cumulative volume delta, or CVD. - The volume heatmap tracks trading volume by price range, and the background becomes brighter when the price stays in a specific range for an extended period or moves sharply. Brighter zones may act as support or resistance levels. - The CVD indicator in the lower section reflects buy and sell orders by order size. As buy orders increase, the line for the corresponding color moves higher. The yellow line is based on orders between $100 and $1,000, while the brown line reflects large orders between $1 million and $10 million.

CoinMarketCap’s in-house crypto fear and greed index came in at 71, down two points from yesterday, with the market remaining in greed territory. The index suggests extreme fear when it is closer to zero and extreme optimism when it is closer to 100. CoinMarketCap said the index is calculated based on price moves among the top 10 cryptocurrencies by market capitalization, market volatility, derivatives-market indicators such as the put-to-call ratio, the stablecoin supply ratio (SSR), and CoinMarketCap’s internal search data.