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Bitcoin mining company Sphere 3D (ANY) is facing a potential $2.2 million tariff bill after authorities determined mining machines bought through a subsidiary in 2022 were made in China, CryptoSlate reported. Sphere 3D plans to challenge the finding, saying it received documentation at the time of purchase certifying the machines were not made in China. The company held about $2.8 million in cash as of the end of the second quarter. Separately from the tariff issue, CryptoSlate added Sphere 3D is facing questions about its ability to continue operating without additional funding amid recurring losses and worsening cash flow. The outlet said the company is now in the process of changing its name to DarkHorse Technologies and its ticker to DRK.

James Murphy, a U.S. digital-asset lawyer known by the nickname MetaLawMan, backed pro-crypto lawyer John E. Deaton and urged voters to unseat Massachusetts Sen. Ed Markey over Markey’s opposition to the CLARITY Act. In a post on X, Murphy said Fidelity, an asset manager that employs many people and pays substantial taxes in Massachusetts, urged the Senate in July to pass the CLARITY Act. Murphy added Markey, who is seeking re-election, would vote against the bill regardless of its contents, and argued voters should support Deaton.

Coinbase (COIN) submitted a comment letter to the U.S. CFTC and SEC on the definition of perpetual futures products and the related regulatory framework after the two agencies requested public input. Faryar Shirzad, Coinbase’s chief policy officer, said on X the recommendations include establishing a framework to promote consumer choice, market competition, and innovation; classifying equity-based perpetual futures products as security futures; and allowing exchanges regulated by either the CFTC or SEC to list equity-related prediction products. Shirzad added Coinbase currently offers perpetual futures and prediction market products but faces conflicting rules amid a jurisdictional dispute between the CFTC and SEC.

CoinMarketCap’s Altcoin Season Index stood at 38. The index compares price performance between Bitcoin and the top 100 coins by market capitalization, excluding stablecoins and wrapped coins. A market is considered to be in altcoin season when 75% of the top 100 coins have outperformed Bitcoin over the past 90 days, while the opposite is considered Bitcoin season. A reading closer to 100 indicates stronger altcoin season conditions.

Bitcoin holders have been moving large amounts from personal wallets and exchanges into spot ETFs, Bloomberg reported. BlackRock’s spot BTC ETF, IBIT, has processed more than $5 billion in such conversions so far, up sharply from $3 billion in October last year. Bloomberg said Bitwise’s BITB saw a similar trend, while Morgan Stanley’s MSBT took in about 5% to 7% of total assets under management through spot BTC conversions. The shift appears to reflect asset managers sharply lowering minimum thresholds for spot conversions, along with investor demand to reduce the risks tied to self-custody, including hacking and private-key loss, and potential capital gains tax savings from converting BTC into ETFs depending on the situation.

A full-page advertisement for Bitcoin education site gettingbitcoin.org appeared in the print edition of The Wall Street Journal, Bitcoin Magazine reported. The site is operated by The Nakamoto Project, a Wyoming-based U.S. nonprofit. The ad included the phrase "fringe" and said that era is officially over, while also claiming one in four Americans holds Bitcoin and that hundreds of millions of people hold it worldwide.

CoinMarketCap’s in-house crypto fear and greed index came in at 80, down one point from yesterday, with the gauge remaining in extreme greed territory. The index signals extreme fear as it approaches zero and extreme optimism as it nears 100. CoinMarketCap calculates the index based on price movements among the top 10 cryptocurrencies by market capitalization, market volatility, derivatives-market indicators including the put-to-call ratio, the stablecoin supply ratio, or SSR, and CoinMarketCap’s own search data.

Spot CVD 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 upper volume heatmap tracks trading volume at each price level, and the background color becomes brighter when the price stays in a specific range for a longer period or makes a large move. Areas closer to brighter colors may act as support or resistance. - The lower CVD indicator reflects buy and sell orders by fund size, and the line for each color rises as buy orders increase. The yellow line is based on orders between $100 and $1,000, while the brown line is based on large orders between $1 million and $10 million.

A bill to scrap the rule requiring each digital asset exchange to partner with only one bank for services will be discussed today, Edaily reported. South Korea’s National Policy Committee is set to hold a full meeting at the National Assembly today to place 136 bills on the agenda, including the 2025 fiscal year settlement, approval of reserve fund spending for fiscal 2025, and an amendment to the Act on Reporting and Use of Certain Financial Transaction Information containing the measure, according to the report. The amendment related to a one exchange-multiple banks system includes a clause stating virtual asset service providers may receive real-name verified deposit and withdrawal accounts from one or more financial institutions, while the standards, conditions, and procedures for opening such accounts would be set by presidential decree.

Thirty-nine U.S. state banking associations plan to build BankChain Alliance, a blockchain network for the banking sector, CoinDesk reported. The network is targeting a 2027 launch and is expected to support stablecoins, tokenized deposits and smart payments. The report said the network would be designed and operated directly by the banking industry and would also support interoperability with other networks. The project is currently seeking a technology partner to lead development. Kathy Kraninger, interim chair and CEO of the Florida Bankers Association, said the regulated and secure network would enable financial institutions of all sizes to provide modern financial services.

Crypto infrastructure provider ZeroHash has reapplied to the U.S. Office of the Comptroller of the Currency for a federal trust bank charter, CoinDesk reported. The OCC rejected ZeroHash’s initial application last month over certain deficiencies, and ZeroHash said the new filing significantly narrows its business scope to focus on the trust services it is seeking to offer. The OCC’s review is now under way, with the public comment period running through Sept. 17. ZeroHash provides crypto infrastructure services to Morgan Stanley E*TRADE, BlackRock, Stripe, Franklin Templeton and Interactive Brokers.

Major exchanges have seen $119 million worth of futures liquidated in the past hour. In the past 24 hours, $650 million worth of futures have been liquidated.

According to CoinNess market monitoring, BTC has fallen below $78,000. BTC is trading at $77,950 on the Binance USDT market.

Bitcoin is no longer oversold, but it is not overbought either, leaving room for further upside, Fairlead Strategies founder Katie Stockton said in an interview with CNBC, according to Bitcoin Magazine.

Bloomberg ETF analyst Eric Balchunas said another sign has emerged that debasement trades are gaining traction in place of the artificial intelligence boom. Balchunas said GLD, a spot gold ETF, and IBIT, a spot Bitcoin ETF, have returned to the top 10 ETF list by trading volume, while some semiconductor ETFs that had dominated the upper ranks throughout the summer have slipped in the standings. Those funds still maintain a market presence, Balchunas said, but are no longer as overwhelming as before, signaling that investor focus may be gradually shifting from AI- and semiconductor-led enthusiasm toward stores of value such as gold and Bitcoin.

PolymarketUS open interest reached $111 million, nearly doubling since the 2026 FIFA World Cup ended in mid-July, Crypto Briefing reported. Crypto Briefing said the growth runs counter to the broader prediction market trend, with open interest across major platforms including Kalshi down about 20% since the World Cup ended, while PolymarketUS has continued to rise.

Markus Thielen, founder of 10x Research, said in an interview he prefers splitting a portfolio evenly between Bitcoin and gold at current price levels, according to Cointelegraph. Thielen said AI-related stocks are much harder to value now and added he sees a simpler portfolio built around Bitcoin and gold as a better option than betting on AI names in the current market.

The three major U.S. stock indices closed higher today. - S&P 500: +0.32% - Nasdaq: +0.66% - Dow Jones: +0.30%

Bitcoin’s rally has been driven by falling Treasury yields, a short squeeze, and renewed optimism over U.S. crypto policy, Forbes reported. Dave Liebowitz, head of growth at private credit platform Cap, said Bitcoin’s advance appeared to be the result of several factors working at once rather than a rally unique to crypto. He said the macro backdrop had become more supportive for risk assets, while nearly $2 billion flowed into U.S. spot Bitcoin ETFs last week. Improving liquidity conditions and sustained institutional demand combined to push Bitcoin higher արագly, he added, especially as market positioning had been built more defensively. Paul Howard, senior director at crypto trading firm Wincent, said the initial move higher was led by a short squeeze, with subsequent support coming from U.S. Treasury bond purchases and optimism surrounding the CLARITY Act. That momentum then drew the attention of investors who had previously been focused elsewhere, Howard said, adding that Bitcoin was likely to extend its gains and could reach $100,000 by year-end.

Binance has hired two compliance executives from Crypto.com, Crypto Briefing reported. Their identities and roles were not disclosed. Crypto Briefing said Binance is reshaping its compliance team after a series of staff departures and years of regulatory pressure.

BlackRock expects investors to continue investing billions of dollars in Bitcoin, former Bitcoin Magazine editor Pete Rizzo said, citing Bloomberg.

Digital asset investment firm RockawayX announced plans to raise $150 million for a liquidity fund that will invest in undervalued tokens and crypto-related stocks, according to Forbes.

10x Research founder Markus Thielen said he does not expect Bitcoin to break to a new all-time high in the near term, although BTC could continue a sizable rally, according to Cointelegraph. Thielen said $100,000 is an important milestone for Bitcoin and, in itself, a major achievement.

Japan is considering a pilot real-time settlement system for stocks and bonds using blockchain technology, Walter Bloomberg reported, citing Nikkei. To support the effort, Japan’s Financial Services Agency, the Ministry of Finance, the Bank of Japan, and major financial institutions plan to launch a related study group this summer. A detailed development plan is expected to be drawn up early next year, followed by operations beginning within the next few years and a broader system becoming operational in the early 2030s.

On-chain analyst Julio Moreno said Bitcoin’s market trend has shifted into a bull phase, with most indicators pointing to the early stage of a new upcycle. Moreno said two factors still warrant caution. For the bull market to be officially confirmed, Bitcoin needs to break above its 365-day moving average, currently at $83,000. Moreno added that a price correction remains possible, given high unrealized profits after the recent surge and potential selling pressure from a sharp increase in exchange inflows. Even so, Moreno said the overall data still signals a highly positive outlook.