The stories attracting the most readers across The Token Press.
OpenAI has reached a record $500 billion valuation, overtaking SpaceX to become the world’s largest startup. While crypto companies like Tether and Coinbase trail far behind, analysts see synergies between AI agents and stablecoins, with bots already driving the majority of stablecoin transactions. Yet, questions remain over the sustainability of AI’s energy needs as the sector scales at breakneck speed.
Tether’s USDT and Circle’s USDC still dominate the stablecoin market but have slipped from over 91% market share in 2024 to 84% today. Analysts say yield-bearing competitors like Ethena’s USDe and incoming bank-backed tokens will further erode their dominance, signaling the end of the stablecoin duopoly.
Melania Trump has revived promotion of her Solana-based memecoin MELANIA with a new AI video, but the project remains under fire amid claims insiders sold $10M in community funds. The token is down 98% from its all-time high, with analysts questioning its transparency and long-term viability.
TON Strategy CEO Veronika Kapustina acknowledged bubble-like signs in digital asset treasuries but dismissed fears of a crash. She said consolidation is likely before long-term capital flows in, noting the model has expanded beyond Bitcoin into ETH, SOL, and TON. Corporate treasuries already hold over $180B in crypto, signaling strong institutional interest.
The Trump administration has withdrawn Brian Quintenz’s nomination to chair the CFTC, amid reports of pushback from Gemini founders Tyler and Cameron Winklevoss. The move leaves the CFTC without a permanent leader as Congress debates the Digital Asset Market Clarity Act, which could make the agency a key overseer of Bitcoin and Ethereum regulation.
Telegram CEO Pavel Durov says he has relied on Bitcoin — not Telegram revenue — to finance his lifestyle, revealing he bought thousands of BTC in 2013. While predicting Bitcoin could hit $1 million, he also highlighted TON’s role in Telegram’s blockchain ecosystem despite regulatory hurdles.
SEAL’s Safe Harbor framework is giving ethical hackers legal protection to intervene during live exploits, already saving billions in crypto. With 29 companies adopting the standard and dozens of white hats actively defending protocols, the initiative signals a new era of collective security in crypto.
Dragonfly’s Rob Hadick says tokenized equities will reshape Wall Street but may not benefit Ethereum or the wider crypto ecosystem if institutions stick to private chains. The SEC is advancing tokenized stock discussions, but the sector remains nascent, with less than $1 billion in assets onchain.
Coinbase’s John D’Agostino says AI agents will need crypto, not outdated finance rails, to operate at scale in global markets. He argues Bitcoin is more than “digital gold” and predicts gradual, cautious institutional adoption rather than an instant wave.
Circle has partnered with Deutsche Börse to integrate its EURC and USDC stablecoins into Europe’s financial market infrastructure. The move leverages MiCA rules but comes as regulators debate a potential ban on multi-issued stablecoins. The collaboration could reshape settlement and custody workflows across European markets.
Animoca Brands’ equity is being tokenized on Solana via Republic, opening new global investor access to the Web3 giant’s shares. The move underscores the rapid rise of real-world asset tokenization while supporting Animoca’s ongoing expansion into metaverse, science, and entertainment ventures.
Wisconsin lawmakers have introduced a bill that would exempt crypto mining, staking, and peer-to-peer digital asset transactions from money transmitter licensing. Backed by Republican sponsors, the measure still faces hurdles but could make Wisconsin one of the most crypto-friendly states in the US.
A new Ethereum Foundation-backed study shows that psychology and perception drive Ethereum’s momentum as much as its technology or price action. While Ethereum’s fundamentals remain strong, researchers warn that flat prices and unclear narratives could erode its appeal to builders and investors.
The SEC has suspended trading in QMMM Holdings until Oct. 13, citing concerns of potential stock manipulation linked to social media promotions. While QMMM recently pivoted to a crypto treasury model, analysts say the halt is focused on illegal trading activity, not its digital asset strategy. The move comes as regulators expand probes into the fast-growing crypto treasury trend on Wall Street.
Adrienne Harris is stepping down as NYDFS superintendent after four years, with Kaitlin Asrow named acting head effective Oct. 18. Harris’ tenure was marked by major influence on US crypto and stablecoin policy, as well as efforts to strengthen transatlantic regulatory cooperation.
Massachusetts’ Joint Revenue Committee will hold a hearing on a Republican-led bill to establish a state Bitcoin reserve. While Democrats’ supermajority makes passage unlikely, the proposal adds to a growing wave of state and federal efforts to treat Bitcoin as a strategic asset.
Kazakhstan has launched the Alem Crypto Fund, its first state-backed crypto reserve, debuting with a BNB investment in partnership with Binance. The fund aims to build long-term digital asset holdings, marking another step in Kazakhstan’s broader strategy to position itself as a crypto hub.
The U.S. faces a looming government shutdown that could stall progress on the Senate’s crypto market structure bill. Already delayed until October, the legislation risks being pushed back further as lawmakers focus on funding negotiations.