Odaily News: New Jersey Attorney General Jennifer Davenport and acting director of the state's Division of Gaming Enforcement, Mary Jo Flaherty, have filed a petition for a writ of certiorari with the U.S. Supreme Court, requesting review of the state's enforcement action against prediction market platform Kalshi over its sports event contracts.

The petition cites civil cases brought by at least 20 state gaming regulators and asks the Supreme Court to rule on whether prediction market companies may still violate state laws while complying with regulations set by the U.S. Commodity Futures Trading Commission (CFTC). The petition also addresses whether the Dodd-Frank Act precludes state regulatory authority over sports betting within their jurisdictions.

The filing challenges a 2-1 ruling issued by the U.S. Court of Appeals for the Third Circuit in April. Kalshi spokesperson Dani Lever stated that the company disagrees with New Jersey's appeal to the Supreme Court, adding that Kalshi cannot operate under separate oversight from 50 regulators, and that the company remains confident in the lower court's ruling. (Cointelegraph)

Odaily News: U.S. President Trump: The stock market has not been affected, and it could even be higher than it is now, believe it or not. The stock market will go up. (Jin10)

Odaily News: U.S. President Trump met with U.S. tourism industry executives at the White House on Wednesday local time, during which he once again addressed the Iran issue. Trump stated: "The Iranian regime is collapsing, and a new round of strikes against Iran will not last long. (In the future) we are prepared to strike Iran once again. We fully control the Strait of Hormuz, through which millions of barrels of oil are exported every day. I hope domestic retail gasoline prices will drop." (Jin Shi)

Odaily News: Bitcoin News posted on X platform that Hyperscale Data has unplugged all Bitcoin mining machines at its Michigan site to free up data center space for a 10-year AI hosting agreement. Following the announcement, the company's stock price hit an all-time low.

Odaily News: U.S. President Trump says he is prepared to launch another strike on Iran. (Jin10)

Odaily News: U.S. President Trump: (Regarding Iran) The new round of strikes on Iran will not last long. (Jin Shi)

Odaily News: According to Onchain Lens monitoring, World Liberty Fi's unlocked wallet transferred 175.3 million WLFI tokens to Binance and Gate, valued at approximately $9.94 million.

Odaily News Crypto enterprises, asset managers, market makers, and consumer advocacy groups have submitted comments to the U.S. Securities and Exchange Commission (SEC) in response to its request for input on the regulatory framework for "novel ETFs," covering exchange-traded products such as crypto assets, private assets, event contracts, and leveraged strategies.

Crypto industry organization Crypto Council for Innovation (CCI) recommended extending certain regulatory accommodations applicable to ETFs to non-ETF exchange-traded products. Venture capital firm Andreessen Horowitz (A16z) stated that the SEC should assess products based on their underlying assets and risk profiles, rather than treating all novel ETFs as a single category.

Grayscale opposed adding new portfolio restrictions for mature digital asset products, while Chainalysis suggested leveraging public blockchains to enable real-time monitoring and verifiable disclosures. Kalshi expressed support for including event contracts in registered funds, whereas consumer advocacy group Public Citizen opposed offering event contract ETFs to retail investors. The SEC will evaluate whether to adopt a unified regulatory framework or craft separate rules based on product structure and risk. (Decrypt)

Odaily Odaily News: Tokenized real-world asset management firm Ondo Finance stated that existing U.S. securities laws can support perpetual futures tied to individual stocks without the need for new rules, applying the current securities and futures framework.

On August 24, Ondo Finance submitted three comment letters to the U.S. Securities and Exchange Commission (SEC) and the U.S. Commodity Futures Trading Commission (CFTC), recommending the introduction of related products within the United States while incorporating modern margin mechanisms and on-chain market data.

Its Panamanian subsidiary has already been offering stablecoin-settled perpetual futures on U.S.-listed stocks outside the United States. As of August 14, the platform, which launched approximately six weeks ago, has accumulated a trading volume of $8 billion. Ondo Finance manages and distributes approximately $2.6 billion in tokenized real-world assets, ranking fourth in the sector. (Cointelegraph)

Odaily reported  CZ posted on platform X, stating that some “hot money” is flowing back from AI into the crypto market. He also remarked, “The financial industry isn't going away—you and AI will still need money.”

Odaily News, glassnode report: The short squeeze in mid-August drove Bitcoin's rebound, pushing it above $80,000 on August 27. However, the price subsequently encountered resistance in the long-term supply zone above, retreating to around $76,000 and triggering a series of long liquidations. Currently, the $83,000-$86,000 range has accumulated a large number of potential short liquidation positions, while the $60,000-$63,000 zone below holds undigested long liquidation clusters, leaving Bitcoin sandwiched between the two.

On-chain data shows that when Bitcoin traded near $78,000 in May this year, approximately 65% of the supply was in profit. When the price returned to the same level at the end of August, that proportion had risen to 68%. The summer redistribution of coins has pushed short-term holders' cost basis to around $71,000, and at this same price level, more profitable coins are now activated, increasing potential selling pressure. Combining cost basis and coin distribution, $62,000-$65,000 serves as an accumulation support zone, while $83,000-$86,000 represents a concentrated supply zone for long-term holders.

During the rebound, the 7-day average net inflow for US spot Bitcoin ETFs peaked at $290 million per day, but secondary market daily trading volume remained at around $3 billion, significantly lower than the previous expansion phase. Meanwhile, the yield on the US 10-year Treasury briefly fell to 4.6% following the Treasury's buyback announcement on August 19, but returned to 4.8% in just 8 trading days, hitting a new cycle high.

In the options market, short-term optimism has cooled while long-term options demand persists. Open interest for Deribit and IBIT options expiring on September 25 stands at approximately $14 billion, with a substantial portion of positions concentrated above $80,000, which could serve as an important volatility and positioning anchor in the coming weeks. Until the supply above $83,000-$86,000 is absorbed, Bitcoin will continue to trade in a range, with $62,000-$65,000 serving as the primary downside reference zone.

According to GMGN data, Solana ecosystem Meme coin SOLCAT's market cap briefly surged past $3.4 million, and is now reported at approximately $2.5 million, up over 14 times intraday.

Market attention may be related to Solana's official account recently updating its avatar. The community discovered cat-themed elements associated with SOLCAT in its new avatar, fueling a rapid rise in related Meme coin narratives.

Odaily reminds that Meme coin prices are highly volatile and susceptible to market sentiment and trending events. Please be mindful of trading risks.

Odaily News: Arbitrum DAO generated $6.19 million in revenue during the first half of 2026, primarily from Arbitrum One transaction fees, Timeboost sequencer auctions, licensing fees from expansion chains built on Arbitrum technology, and treasury management returns. The protocol's gross margin on revenue exceeded 97%, with $125 million in non-ARB assets held at period-end. The report shows that in the first half of 2026, the Arbitrum network processed 478 million transactions, with average monthly stablecoin transfer volume surpassing $70 billion. The number of token-holding addresses grew to 10.5 million, and the network ranked first in the number of on-chain RWA deployments. Robinhood Chain, which launched its mainnet in July, paid $360,000 in licensing fees to the Arbitrum Expansion Program in its first month, accounting for 35% of the DAO's revenue that month.

According to Odaily Meme Express monitoring, PEPTIDES market cap has surpassed $3.2 million on Robinhood.

PEPTIDES is tied to Eli Lilly tokenized stocks. Peptides represent a significant opportunity in the pharmaceutical sector and could become part of the narrative around Robinhood on-chain stocks and meme culture.

"Meme Express" is curated by Odaily's exclusive AI model, which screens community-hyped potential assets. Content is compiled from public information and does not constitute investment advice. Please exercise your own judgment and be aware of the high volatility risks associated with meme coins.

Odaily News: Trader 0xSun posted on X platform, stating that under normal circumstances, the logic of an on-chain stock short squeeze generally includes: Robinhood or other compliant issuers issuing tokenized stocks on-chain that are pegged to real stock prices; a certain Meme coin paired with the tokenized stock; retail investors who do not hold the tokenized stock buying the Meme coin, driving up the price of the tokenized stock serving as the underlying asset of the liquidity pool; market makers buying the underlying stock due to arbitrage opportunities, converting and minting it into on-chain tokenized stock, thereby re-pegging the price; the market makers' purchase of the underlying stock may push up its price, thereby triggering a short squeeze.

0xSun stated that the case of JINQIAN/FAMI is not so: an unknown project party issued the FAMI token on-chain and retained minting authority, leaving compliance uncertain and the liquidity pool potentially unlocked; if the issuer is not a compliant RWA issuer, FAMI is essentially just an on-chain token sharing the same name. The project issued the Meme coin JINQIAN and paired it with FAMI, with a relatively large liquidity pool. Given FAMI's extremely low market capitalization, it sparked on-chain sentiment, leading retail investors to frantically buy JINQIAN, which in turn drove up FAMI as the underlying pool asset. Some retail investors went a step further, directly buying FAMI's underlying stock, causing the stock price to rise.

He noted that this situation is somewhat similar to Bald, an early Meme coin on Base, which also had an unlocked liquidity pool but saw aggressive price pumping, ultimately ending with the developer pulling the liquidity. In hindsight, there was no deterministic logic throughout the entire process. In such cases, one can only judge for oneself whether the probability of rising without wrongdoing is higher, or the probability of going to zero through malicious actions is greater. In fact, almost all trading scenarios are like this—whenever there is excess return, there is no 100% certainty. For most people, such projects carry extremely low certainty, but correspondingly, they may also offer potential returns of dozens of times.

According to Odaily Meme Flash monitoring, the market cap of SOLCAT on Solana has surpassed $2 million.

The Solcat community has posted about the SOLCAT token, set against the backdrop of a cat-themed Meme craze on the Solana blockchain.

"Meme Flash" is curated by Odaily's exclusive AI model, selecting tokens with high community discussion potential. The content is compiled based on public information and does not constitute investment advice. Please exercise your own judgment and be mindful of the high volatility risk associated with Meme coins.