Weekly Recap: Fractal Bitcoin Ordinals Activation Nears; Binance Launchpool Lists HMSTR and CATI

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The past week (September 9–14, 2025) marked a dynamic period in the blockchain and cryptocurrency landscape, with major developments spanning token launches, infrastructure upgrades, regulatory movements, and shifting market dynamics. From the surge in Fractal Bitcoin transaction fees to Binance’s dual Launchpool listings and growing institutional interest in real-world assets (RWA), the ecosystem continues to evolve at a rapid pace. Below is a comprehensive breakdown of key events, trends, and insights shaping the industry.

Binance Launchpool Introduces Hamster Kombat (HMSTR) and Catizen (CATI)

Binance made two major announcements this week, reinforcing its role as a launchpad for high-potential Web3 projects.

On September 12, Binance revealed that Hamster Kombat (HMSTR) would join Binance Launchpool and Super Earn. Mining began on September 19, 2024, with HMSTR officially listing on September 26. Trading pairs including HMSTR/USDT, HMSTR/BNB, HMSTR/FDUSD, and HMSTR/TRY were activated upon listing. Notably, 75% of HMSTR tokens are allocated to community airdrops, emphasizing user-driven distribution.

Just one day later, Binance announced Catizen (CATI) as its 59th Launchpool project. Users could stake BNB or FDUSD starting September 16, with rewards distributed over a four-day period. CATI was listed on September 20, accompanied by the launch of Meow Earn—a unique staking program allowing users to earn exchange tokens by staking CATI. This marks the first time a project enables users to earn platform-native rewards through project token staking, setting a new precedent for incentive alignment.

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Binance Launches BNSOL: A New Liquid Staking Solution for Solana

Also on September 12, Binance unveiled BNSOL, its liquid staking token for Solana (SOL). By staking SOL on Binance, users receive BNSOL—representing their staked assets—while continuing to earn staking rewards. Crucially, BNSOL maintains liquidity, enabling holders to trade, lend, or use it across various DeFi applications within and beyond Binance.

This move enhances capital efficiency for SOL holders and strengthens Binance’s position in the competitive liquid staking market—a sector increasingly vital for maximizing yield without sacrificing flexibility.

Avenir Group Announces $500 Million Crypto Investment Initiative

In a significant signal of institutional confidence, Avenir Group launched its "Avenir Crypto卓越伙伴计划" (Outstanding Partners Program) during the “Future Boundless” quant summit. The initiative commits $500 million to support high-performing quantitative trading teams.

The funding split includes:

Investment structures offer flexibility: full capital provision, co-investment at par, or manager-subordinated models. Profit-sharing options include tiered performance fees, fixed lending rates, or management fee models. This structured yet adaptable approach reflects a maturing institutional appetite for crypto-native strategies.

Fractal Bitcoin Fees Spike Then Collapse

Fractal Bitcoin experienced extreme volatility in transaction fees during the week. On September 13, fees soared past 5,000 satoshis per byte—driven by intense activity around CAT20 and other OP_CAT-based token protocols on the network. However, by September 14, fees plummeted to just 5 sat/byte, settling around 6 sat/byte at press time.

Despite the fee collapse, Fractal’s mainnet remains active with approximately 25 FB awarded per block. The wild swings underscore the network’s sensitivity to speculative minting behavior and highlight scalability challenges as Bitcoin layer-2 ecosystems expand.

Grayscale Launches First U.S. XRP Trust

On September 12, Grayscale announced the creation of the first U.S.-based XRP Trust, structured as a closed-end fund for accredited investors. While distinct from an ETF—due to differing regulatory requirements—the trust could serve as a stepping stone toward a future XRP ETF if SEC approval is secured.

Unlike ETFs, trusts face less stringent oversight since they cater exclusively to qualified investors. Nevertheless, this development signals growing institutional interest in XRP and may pave the way for broader adoption pending regulatory clarity.

a16z Crypto Accelerator Kicks Off with 21 Projects

a16z Crypto launched its CSX Fall 2024 accelerator program in New York on September 10, welcoming 21 selected startups. Among them:

These projects reflect a strong focus on foundational infrastructure, AI integration, and user-owned digital experiences—key themes in next-gen Web3 development.

U.S. Presidential Debate Ignores Crypto; Polymarket Shifts

The first presidential debate between Donald Trump and Kamala Harris took place on September 11 in Philadelphia—with no mention of cryptocurrency policy. Post-debate markets reacted swiftly: Trump Media (DJT) dropped 13% pre-market, while major crypto stocks like MicroStrategy (MSTR), Riot Platforms (RIOT), and Coinbase (COIN) declined between 2% and 3%.

Notably, prediction market Polymarket showed Harris surpassing Trump in victory odds—rising to 50% vs. 49%—highlighting tightening electoral expectations that could influence future regulatory sentiment.

Linea Growth Lead Departs Amid Strategic Shift

Marco Monaco, former Growth Lead at Linea (Consensys’ zkEVM rollup), confirmed his departure on September 11, stating he left Consensys in mid-June and fully exited the project by July. He cited a strategic divergence with leadership, noting that “Consensys and MetaMask should now fully take the reins” of Linea’s development.

This transition suggests a centralization of control under Consensys, potentially streamlining decision-making but raising questions about community governance moving forward.

Azuki Launches anime.com with Waitlist Access

On September 13, Azuki launched anime.com, a new website dedicated to its anime-related ventures. Currently, the site only features a registration form for a waitlist and hints at exclusive collectibles. While details remain scarce, this move signals Azuki’s intent to build a branded entertainment ecosystem anchored in anime culture.

Fuse Raises $12M for Decentralized Renewable Energy Network

Renewable energy firm Fuse secured $12 million in strategic funding led by Multicoin Capital, with participation from Solana co-founder Anatoly Yakovenko. The capital will support Project Zero, a decentralized physical infrastructure network for renewable energy.

Fuse already operates utility-scale solar and wind plants in the UK, offering energy retail services to thousands of households. Its integration of blockchain with real-world energy systems exemplifies the growing convergence between DeFi and sustainable infrastructure.

Sky Protocol Votes to Phase Out wBTC

DeFi lending platform Sky (formerly MakerDAO) initiated governance voting to gradually remove wrapped BTC (wBTC) from its collateral portfolio. The proposal, led by risk management firm BA Labs, cites concerns over Tron founder Justin Sun’s involvement in wBTC custody.

The five-step phaseout begins on September 26, requiring a vote at each stage. With over $200 million in wBTC-backed loans, this decision could ripple across DeFi, accelerating demand for alternative Bitcoin representations like cbBTC.

FAQ: Why Is Sky Removing wBTC?

Q: Why is Sky considering removing wBTC?
A: Due to governance risks associated with centralized custodianship and concerns over transparency.

Q: What alternatives exist to wBTC?
A: Native Bitcoin wrapping solutions like cbBTC and upcoming decentralized BTC layers offer more trust-minimized options.

Q: How will this affect DAI stability?
A: Gradual removal minimizes market shock; Sky is diversifying into other collateral types to maintain system health.

cbBTC Supply Surpasses 1,700 BTC

Coinbase’s native wrapped Bitcoin, cbBTC, now exceeds 1,720 BTC in circulation (~$99.6 million), according to Dune Analytics. Of these:

Launched just days prior, cbBTC’s rapid adoption highlights demand for transparent, custodian-backed wBTC alternatives—especially amid scrutiny over existing models.

RWA Market Cap Hits Record $12B

As per Binance Research, the total market cap of tokenized real-world assets (RWA) has surpassed $12 billion, reaching an all-time high. Key contributors include:

This growth underscores increasing institutional adoption of blockchain for asset tokenization—particularly in fixed income.

Ethereum Researcher Danny Ryan Exits After Seven Years

On September 14, long-time Ethereum Foundation researcher Danny Ryan announced his departure. A key architect of The Merge and leader of the Beacon Chain launch in 2021, Ryan played a central role in Ethereum’s transition to proof-of-stake. His exit marks the end of an era but does not indicate systemic issues within the protocol.

Friend.Tech Effectively Shuts Down Amid Developer Exit

Developer control of Friend.Tech was transferred to an Ethereum null address on September 8, effectively freezing the protocol. No fees now flow to the dev team’s multisig wallet. While the frontend remains accessible, no new features can be added.

On-chain data shows developers extracted approximately $52.4 million in revenue via ~19,477 ETH transferred to Coinbase. Despite claims they have “no plans to shut down,” the relinquishment of control suggests a de facto exit—dubbed a “soft rug pull” by critics.

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Singapore Investigates Worldcoin Operators

On September 10, Singapore authorities arrested five individuals linked to unauthorized buying/selling of Worldcoin accounts and tokens—potentially violating the Payment Services Act. Three men recruited users to create accounts; assets were then funneled to two others for management.

Police seized over 200 phones. The case highlights ongoing global scrutiny of Worldcoin’s biometric data practices in France, UK, Hong Kong, Colombia, and Argentina.

Beijing Cracks Down on $800M Crypto Money Laundering Ring

On September 11, Beijing police dismantled an underground bank using crypto to launder ~800 million RMB ($110M). Led by a naturalized foreign national named Lv, the group helped clients convert RMB into offshore fiat via virtual asset purchases.

The network also facilitated fund transfers for telecom frauds and embezzlement cases. Four suspects are now under arrest for illegal business operations.

Eigenpie Reveals EGP Tokenomics

On September 14, Eigenpie disclosed its EGP token model:

With strong allocations toward community and treasury reserves, Eigenpie aims to ensure long-term sustainability within Ethereum’s re-staking landscape.

Shanghai Advances Digital Yuan Innovation

Shanghai released a new fintech action plan promoting digital yuan use in financial markets, digital shipping trade, and cross-border payments. The city aims to become a global hub for “Finternet”—a financial internet powered by CBDCs and blockchain innovation.

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