Fed to Spotlight Stablecoins and Tokenization at October Conference as CFTC Clears Path for Polymarket

ump.fun Launches Project Ascend With Tiered Fees, Hits $834M Revenue and $69M Buybacks While Dominating Solana Memecoin Volumes

Pump.fun has introduced “Project Ascend,” a new fee model that links creator rewards to token market cap in an effort to strengthen its position in Solana’s memecoin ecosystem. Fees now range from 0.95% for small-cap tokens to 0.05% for projects above $20 million, replacing the previous flat structure. The platform is showing strong recovery, generating over $834 million in revenue, executing nearly $69 million in token buybacks, and maintaining 200,000–300,000 daily traders. Despite rivals like Bonk losing traction, Pump.fun now consistently drives 10% to 25% of Solana’s token volume.

American Bitcoin Soars 85% to $14 on Nasdaq Debut Before Halts Cut Gains, Closes Near $9.80 After Trump-Backed Merger

American Bitcoin (ABTC), a mining company co-founded by Eric Trump and Donald Trump Jr., surged nearly 85% to $14 per share on its Nasdaq relisting debut before retreating to about $9.80. Trading was halted five times in under an hour due to volatility, highlighting Wall Street’s growing interest in digital asset firms. ABTC went public via an all-stock merger with Gryphon Digital Mining, reflecting the broader trend of crypto companies using SPACs and mergers to access US markets.

SUI Group Holdings Boosts Treasury to $344M With 101.7M Tokens, Eyes More Purchases Backed by $58M Cash Reserve

Nasdaq-listed SUI Group Holdings disclosed it now holds over 101.7 million SUI tokens worth $344 million after adding 20 million tokens. The company, formerly Mill City Ventures, is positioning itself as the official SUI treasury through discounted acquisitions from the Sui Foundation, backed by a $450 million private placement. With $58 million in cash on hand, SUI Group plans further purchases to boost shareholder value. SUI token rose nearly 5% to $3.38 following the announcement.

Federal Reserve to Host October 21 Payments Innovation Conference on Stablecoins, Tokenization and AI in Finance

The Federal Reserve will host a Payments Innovation Conference on October 21, focusing on stablecoin business models, tokenization, the convergence of traditional and decentralized finance, and the role of artificial intelligence in payments. Fed Governor Christopher Waller emphasized the need to balance innovation with safety and efficiency in financial systems. The event comes as the Fed under the Trump administration has taken a more favorable stance toward crypto, easing restrictions on banks’ participation in digital assets. The conference will be livestreamed to the public.

CFTC Grants Polymarket No-Action Relief After $112M Acquisition, Paving Way for U.S. Expansion of Event-Based Crypto Prediction Markets

The Commodity Futures Trading Commission (CFTC) has granted Polymarket temporary regulatory relief through a no-action letter, exempting it from certain swap reporting and recordkeeping requirements for event contracts. The relief follows Polymarket’s $112 million acquisition of QCX LLC and QC Clearing LLC, both licensed for derivatives trading and clearing. This allows Polymarket to expand U.S. operations with binary and variable payout contracts while staying fully collateralized. The move reflects the CFTC’s broader strategy under the Trump administration to integrate crypto-based derivatives into U.S. markets, complementing joint initiatives with the SEC. Polymarket CEO Shane Coplan described the relief as a “green light” for growth, noting July saw 11,500 new prediction markets launched. The decision underscores regulators’ willingness to accommodate innovation while monitoring risks, particularly amid surging interest in political and event-based betting markets.