TCP Weekly Crypto Report

Weekly Crypto Roundup (September 6–13, 2025)

This week the interplay between politics, regulation, and markets was on full display. In the U.S., the SEC kicked major ETF proposals down the road while Senate Democrats unveiled a seven-pillar crypto framework, setting the stage for a fall showdown. Wall Street’s first spot XRP ETF from Rex Shares and Osprey was pushed to September 18, and on-chain speculators flooded Solana’s pump.fun with “Charlie Kirk” tokens that spiked and crashed in hours. Stablecoin governance took center stage as Hyperliquid’s USDH vote pitched Paxos, Frax, Curve, and others against one another for control of billions in liquidity. Meanwhile, Glassnode warned Bitcoin, Ethereum, and Solana are within reach of fresh all-time highs, and Three Arrows Capital hauled Sam Bankman-Fried back to court over a $1.5 billion FTX liquidation dispute.

Partnerships

Hyperliquid’s USDH stablecoin governance vote drew proposals from Paxos, Frax, Sky, Agora, Curve, OpenEden, and Bitgo as they vie to mint the exchange’s first dollar-pegged token.

No new major network or ecosystem partnerships were announced this week for Cardano, Chainlink, XDC, or Ondo.

Legislative Announcements

The U.S. SEC extended review deadlines on key spot-ETF filings, delaying BlackRock’s iShares Ethereum Trust staking plan to October 30 and Franklin Templeton’s Ethereum, Solana, and XRP amendments into mid-November.

Twelve Senate Democrats released a competing crypto market-structure framework, outlining consumer protections, illicit-finance safeguards, and clear SEC/CFTC oversight—the latest salvo in the battle over digital-asset regulation.

Japan’s Financial Services Agency proposed moving crypto under the Financial Instruments and Exchange Act, imposing securities-style disclosure requirements, exchange regulation, and stronger enforcement tools.

News Events

Solana’s pump.fun marketplace was flooded with “RIPCharlieKirk” and “JusticeforCharlie” tokens after the September 10 assassination, some spiking over 10,000% before collapsing amid scam warnings.

Three Arrows Capital subpoenaed Sam Bankman-Fried and former FTX execs, accusing FTX of forcing a $1.5 billion liquidation that sank 3AC in 2022; the court hearing is set for October 14.

Other Major News

The first U.S. spot XRP ETF from Rex Shares and Osprey Funds was cleared by the SEC but won’t begin trading until September 18 after a brief delay.

Glassnode analysts warned that Bitcoin ($116 000), Ethereum ($4 720), and Solana ($242) are each within weeks of new all-time highs, fueled by rate-cut hopes and institutional inflows.

World Liberty Financial froze Justin Sun’s $550 million WLFI allocation after on-chain monitors flagged large wallet transfers, pushing WLFI’s price up 8% and removing over 2.9 billion tokens from circulation.

Looking ahead, market-watchers will be tracking the Senate’s October deadlines on ETF decisions, Hyperliquid’s USDH launch vote results, and the fallout from 3AC’s renewed legal fight. With summer’s chill gone, crypto’s next chapter promises regulatory fireworks and on-chain fireworks alike.