
Plus, Eric Trump claims stablecoins could "save the US dollar."	͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏	View in browser

Your weekly roundup of the 🔥hottest news in crypto:

SOL ETF Approval May be Imminent, Eric Trump's Stablecoin Bet, & Other News

Sept. 21 - 27

#1

Several Solana staking ETFs may win US approval within two weeks: Analyst

Several applications for Solana exchange-traded funds (ETFs) with staking could receive US approval by mid-October, ETF analyst Nate Geraci said, following fresh regulatory filings.

"Guessing these are approved [within the] next two weeks," Geraci, the president of NovaDius Wealth Management, said in an X post on Friday.

Geraci noted that asset managers Franklin Templeton, Fidelity Investments, CoinShares, Bitwise Asset Management, Grayscale Investments, VanEck, and Canary Capital all filed amended S-1 documents for spot Solana ETFs to the US Securities and Exchange Commission (SEC) on Friday. The S-1 document is a comprehensive disclosure outlining the company's financials, risk profile, and the securities they intend to offer.

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#2

Chintai and Splyce target retail access to tokenized securities on Solana

Real-world asset (RWA) protocols Splyce and Chintai have launched a new product on Solana designed to give retail users access to institutional-grade tokenized securities, a move that could broaden the appeal of RWA tokenization on one of the world's largest blockchains.

The product is powered by strategy tokens, or S-Tokens, which provide retail users with exposure to yields generated by Chintai. While users never directly hold Chintai's tokenized securities, S-Tokens act as a "mirror" through a loan structure backed by the underlying assets.

S-Tokens are designed to broaden access to RWA yields beyond institutional investors. Today, most institutional RWA products operate as "walled gardens" with strict capital requirements and compliance hurdles, limiting retail participation, the companies told Cointelegraph.

The S-Token model aims to bridge this gap, offering retail users access to institutional-grade yields while allowing issuers to remain compliant.

#3

Hashdex expands Crypto Index US ETF under SEC generic listing standards

Asset manager Hashdex expanded its Crypto Index US exchange-traded fund (ETF) to include XRP, SOL and Stellar following the generic listing rule change from the US Securities and Exchange Commission.

The Nasdaq stock exchange-listed ETF now includes five cryptocurrencies held 1:1 by the fund, including Bitcoin and Ether, and is trading under the ticker symbol NCIQ, according to Thursday's announcement.

The SEC approved generic listing standards for ETFs in September, paving the way for a faster ETF approval process for eligible cryptocurrencies.

Prediction of the Week

'Stablecoins will save the US dollar': Eric Trump

Eric Trump, son of US President Donald Trump and a businessman with several crypto ventures, said stablecoins could preserve the US dollar's strength.

In an interview with The New York Post published Friday, Eric Trump said he is convinced stablecoins will "save the US dollar." He highlighted USD1, the stablecoin tied to the Trump family's crypto project, World Liberty Financial, which has drawn scrutiny in Washington.

When plans by World Liberty Financial (WLFI) — the Trump family-backed crypto project — were revealed in late March, critics raised conflict of interest concerns. Attorney Andrew Rossow told Cointelegraph at the time that the stablecoin is "a direct affront to constitutional safeguards meant to prevent conflicts of interest."

In April, US Representative Maxine Waters, ranking member of the US House Financial Services Committee, went as far as to suggest that Donald Trump was looking to replace the US dollar with his stablecoin.

FUD of the week

Aster reimburses users after XPL perpetual glitch sends price to $4

BNB Chain derivatives decentralized exchange (DEX) Aster completed reimbursements to traders hurt by a glitch in its Plasma (XPL) perpetual market that briefly drove prices above market levels.

According to Abhishek Pawa, the CEO of Web3 agency AP Collective, the issue stemmed from a misconfigured index hard-coded at $1. With the mark price cap lifted before the fix, XPL futures on Aster spiked to nearly $4 while other venues remained $1.30.

The sudden Friday price discrepancy triggered unexpected liquidations and abnormal fee charges, causing losses to users. However, the platform moved quickly, assuring its users that all funds were safe and promising to compensate them for any losses.

Just hours later, the DEX said the reimbursements for the incident had been fully distributed to their accounts. Shortly after, Aster deployed another round of compensation, including trading and liquidation fees.

FUD of the week

Crypto needs dual wallet management, AI monitoring of North Korean hackers

Cryptocurrency companies need to strengthen defenses against North Korean hackers who are seeking jobs at major Web3 businesses to stage large-scale exploits, security experts told Cointelegraph.

Hiring North Korean developers may open a crypto project's infrastructure to the threat of hacks and data breaches similar to the Coinbase data breach in May, which exposed the wallet balances and physical locations of about 1% of the exchange's monthly users, potentially costing the exchange up to $400 million in reimbursement expenses.

To fight this growing threat, the industry needs to adopt enhanced wallet management standards, real-time AI monitoring for the early prevention of exploits and more secure employee vetting practices, crypto security experts told Cointelegraph.