Polymarket seeks $1 billion in financing, Cronos reverses $75 million in hacking, Bitcoin ETF attrac

This week's review: Polymarket seeks US$10 billion in financing, Cronos rolls back status due to vulnerability

In this week's cryptocurrency market review, prediction market platform Polymarket launched a US$1 billion financing round with a valuation of US$21 billion; and the Cronos blockchain was rolled back by verifiers after encountering approximately US$75 million in asset theft. At the same time, the U.S. spot Bitcoin ETF recorded its strongest single-day inflow since January this year, and the Bitcoin price briefly exceeded $82,000.

Summary of core points

Polymarket plans to raise US$1 billion at a US$21 billion valuation.

Cronos verifiers rolled back the blockchain to its pre-attack state after an attack on the Tectonic lending protocol resulted in approximately US$75 million in assets being damaged.

The U.S. spot Bitcoin ETF recorded a net inflow of US$730.8 million on September 3.

The U.S. Financial Crimes Enforcement Network (FinCEN) has traced approximately $12.7 billion in transactions linked to crypto-investment scams in Southeast Asia.

Withdraws its opposition to the CLARITY Act before the National Sheriffs 'Association votes in the Senate.

Polymarket seeks US$1 billion financing with a valuation of US$21 billion

Donald Jr. Trump （Donald Trump Jr.）Its 1789 Capital has agreed to lead Polymarket's new round of financing, with a planned investment of approximately US$300 million. The transaction will value the forecast market platform to $21 billion, up from its previous valuation of nearly $15 billion.

The planned investment will increase 1789 Capital's total public commitment on Polymarket to approximately US$500 million. Previously, Polymarket re-entered the U.S. market through the $112 million acquisition of QCEX, which holds a Commodity Futures Trading Commission (CFTC) license, after reaching a settlement with U.S. regulators in 2022 and restricting access by U.S. users.

Cronos rolled back blockchain after a $75 million breach

Cronos rolled back its blockchain after a breach involving a Tectonic lending agreement that resulted in approximately $75 million in asset damage. After initially suspending block production, the verifier restored the network state to the point in time before the attack occurred.

Oracle project RedStone said the accident was not caused by a Oracle failure, challenging early theories about the cause of the vulnerability. While rolling back restored early network conditions, it also sparked controversy over transaction finality and verifier control.

Bitcoin ETF attracts US$731 million, BTC price fluctuates

The U.S. spot Bitcoin ETF recorded a net inflow of US$730.8 million on September 3, its strongest one-day performance since January 1 this year. This inflow of funds occurred after a period of outflows, reflecting a recovery in institutional demand.

Bitcoin prices climbed above US$82,000 at one point, but then better-than-expected U.S. employment data pushed up Treasury yields and lowered expectations for the Federal Reserve to relax its policy. Bitcoin then erased the day's gains and fell back to the $79,000 range.

FinCEN traced US$12.7 billion to crypto scams

The U.S. Financial Crimes Enforcement Network (FinCEN) pointed out that between 2020 and 2025, approximately US$12.7 billion in transactions were linked to suspected crypto investment scams located in Southeast Asia. FinCEN said criminal networks use fake investment platforms, social engineering techniques and forced labor dens to target victims.

The agency called on U.S. financial institutions to monitor shell companies, fast-moving stablecoin transfers, and platform payments introduced through non-solicited online relationships.

CLARITY Act loses law enforcement opposition

The National Sheriffs 'Association withdrew its opposition to the CLARITY Act and moved to a neutral stance ahead of a scheduled procedural vote in the Senate on September 15.

The association has previously raised concerns that anti- money laundering The rules cover decentralized finance (DeFi) platforms and unmanaged software. Although neutrality is not the same as endorsement, the shift eliminates a major source of opposition among the 60 Senate votes legislative supporters need to push the bill forward.

Strategy buys 4,603 Bitcoin coins

MicroStrategy (formerly Strategy) purchased 4,603 bitcoins between August 24 and August 30, at a total cost of $369.7 million, ending more than two months of unconfirmed purchases. The company pays an average of $80,318 per bitcoin and raises money by selling MSTR shares. Its total holdings reached 845,050 bitcoins, with an average cost of approximately US$75,412 per coin, and a total investment of approximately US$63.73 billion.

Several banks have committed to forming a joint stablecoin company

Bank of America, Citigroup, Goldman Sachs and 18 other financial institutions have committed to establishing a stablecoin company in the second half of 2026, depending on how delivery conditions are met. The alliance plans to launch a U.S. dollar stablecoin in the first half of 2027 and may subsequently issue tokens pegged to other G7 currencies. Currently, the group has not disclosed the token name, underlying blockchain, reserve custodian or the final redemption model.

SEC proposes record-keeping rules for tokenized securities

As tokenized securities enter regulated U.S. markets, the U.S. Securities and Exchange Commission (SEC) has proposed the first major transfer agent rule reform proposal in more than four decades. The proposal aims to update registration, record-keeping, transfer processing and asset protection requirements. Blockchain-based transfer agents will face controls covering digital records, cybersecurity, audit trails and business continuity. The public comment period will be open for 60 days after publication in the Federal Register.

ICE invests in tZERO to develop the NYSE tokenization platform

The Intercontinental Exchange (ICE) has agreed to invest in tZERO and license its blockchain patents, and the two parties jointly develop the infrastructure of the proposed NYSE affiliated tokenization securities platform. tZERO will assist in the development of transfer agent and broker dealer systems related to on-chain issuance, trading and settlement. ICE did not disclose the amount of its investment, and the proposed all-weather trading platform still requires regulatory approval.

Fairshake reserves $122 million for U.S. elections

Fairshake, a super political action committee backed by the cryptocurrency industry, has entered the final stages of the 2026 U.S. election cycle with $122 million in funding available, having previously supported nearly 50 successful primary candidates. Fairshake and its affiliates have backed candidates from both parties, including several lawmakers who support digital asset legislation. The group spent more than $10 million on Illinois candidate Juliana Stratton but lost, its biggest primary loss.

Coinbase applies for a perpetual contract for U.S. stocks

Coinbase has filed two U.S. Securities and Exchange Commission (SEC) notices and is working with U.S. regulators to launch perpetual futures contracts linked to individual listed companies. The planned contracts would provide continued share price exposure without giving traders ownership of the underlying shares. These notices do not constitute regulatory approvals, and Coinbase has not announced a launch date or list of supported companies.

Revolut receives conditional approval from Bank of America

Financial technology giant Revolut has received conditional approval from the Office of the Comptroller of the Currency (OCC) to establish a National Bank in Stanford, Connecticut. The fintech company plans to invest approximately US$95 million in initial capital and plans to open in the first half of 2027. The planned products include deposits, bank cards, loans, foreign exchange and stablecoins, but still require final approval from the Federal Deposit Insurance Corporation (FDIC), the Federal Reserve and the OCC.

Chainlink links U.S. macroeconomic data

Chainlink launches U.S. macroeconomic data sources on 10 blockchains through the U.S. Department of Commerce's Blockchain Data Project. These data sources distribute Bureau of Economic Analysis (BEA) indicators for use in smart contracts and financial applications. The release follows previous moves to publish U.S. gross domestic product (GDP) data on nine networks, including Bitcoin, Ethereum and Solana.

Russia Opens regulated cryptocurrency trading

Russia Comprehensive cryptocurrency trading, The custody and cross-border settlement framework came into effect on September 1 under the supervision of Russian banks. After passing the test, non-qualified investors can purchase up to 300,000 rubles of qualified cryptocurrencies through each intermediary every year. There is no corresponding purchase limit for qualified investors. Cryptocurrencies are still prohibited for domestic payments, but can be used for international trade settlement.

Robinhood conflicts with AMC over stock tokens

AMC Entertainment CEO Adam Aron objected to Robinhood's issuance of tokens linked to AMC shares, claiming the company did not authorize the product. The dispute later escalated into a legal threat after Robinhood refused to withdraw the token. Robinhood's stock tokens are available to eligible customers outside the United States and do not enjoy the same ownership or voting rights as registered stocks. The conflict has exacerbated the urgent need for clearer rules to govern tokenized equity products.