Portofino Mint - 22 September 2025

🚀 𝗪𝗲𝗹𝗰𝗼𝗺𝗲 𝘁𝗼 𝘁𝗵𝗲 𝗣𝗼𝗿𝘁𝗼𝗳𝗶𝗻𝗼 𝗠𝗶𝗻𝘁!

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⏱️ This Week in Crypto

The Fed kicked off its rate-cutting cycle with a 25bps move, shaking risk markets and keeping Bitcoin pinned just below $117k resistance. Meanwhile, crypto headlines ranged from Solana’s billion-dollar treasury fund to the first U.S. ETFs for DOGE and XRP.

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📊 Market Highlights

• Fed: First rate cut of the cycle (-25bps). Powell ruled out a jumbo cut, flagged inflation as “still elevated.” Relief rally faded fast.
• Bitcoin (BTC): Briefly dipped under $115k, recovered at 200-day MA. Now ~$116k, testing $116.9k resistance. Breakout could spark quarter-end sprint.
• Ethereum (ETH): -4.5% to $4,340. Still strong demand: $1.25bn ETF inflows this week → $29.5bn AUM. Fusaka upgrade locked for Dec 3 (2x throughput).
• Solana (SOL): +16% to $209. Boosted by $1bn Solana Treasury Fund (Galaxy, Jump, Multicoin).
• BNB: Hit $1,080 ATH before cooling to $860. Still one of the strongest large-caps.
• XRP: Holding ~$2.84. ETF chatter + RLUSD stablecoin adoption gaining steam.

Altcoin rotation

• ASTER: +1,650% from launch, $371m first-day volume. Overtook Hyperliquid in daily DEX turnover.
• Dogecoin (DOGE): +40% to $0.29 on ETF hype. Analysts see $0.45–$0.60 range.
• NEAR: +11% in one session, traders calling for $40 target this cycle.
• New launches: Bitlayer (BTC L2) flopped (-30%), Hemi (ETH-BTC hybrid) rallied +28%.
• Liquidations: $543m wiped Friday, mostly ETH longs.

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🏢 Adoption and Corporate Treasuries

• Coinbase’s Base: Founder Jesse Pollak teased that $BASE token “exploration” is underway. Ecosystem tokens (AERO, ZORA, DEGEN) all spiked double digits on the news.
• Galaxy Digital: Quietly bought $306m in Solana (1.2m SOL), fueling speculation of a Solana treasury strategy.

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🏛️ Regulation and Enforcement

• SEC streamlines ETF approvals: New standards mean spot crypto ETFs no longer need the drawn-out 240-day review process. This opens the door for faster approvals of altcoin ETFs.
• First U.S. ETFs for XRP and DOGE: Rex-Osprey launched them on the CBOE — regulated, spot exposure under a 1940 Act wrapper. Meme-coin ETFs are no longer a joke.
• Canada: Seized a record $40m from TradeOgre exchange — the country’s largest ever crypto bust.
• South Korea: Stablecoin framework due in October.
• UK & US: Preparing a joint agreement on digital assets, focusing first on stablecoins.

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🪙 Other notable moves

• MetaMask token closer than expected: Consensys CEO Joe Lubin hinted a launch could come “sooner than expected.”
• Circle x Hyperliquid: Circle integrated USDC natively into Hyperliquid and invested in HYPE tokens, becoming a direct stakeholder.
• Gemini & SEC truce: A preliminary settlement over Earn could mark a shift in U.S. regulatory tone under the Trump administration.
• LSEG’s blockchain move: The London Stock Exchange launched a blockchain-based platform to tokenize fundraising for private funds, with Archax and MembersCap already on board.
• Strategy: The corporate whale slowed its BTC buying, adding just 525 BTC ($60m) in its smallest purchase this year — but it now holds ~639,000 BTC.

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📆 Looking Ahead

• BTC $116.9k resistance remains the level to watch — a breakout could ignite quarter-end fireworks.
• ETH ETF inflows may keep pressure off despite volatility, while December’s Fusaka upgrade looms large.
• CRO, SOL, and DOGE are the “rotation trades” of the moment — driven by treasuries, funds, and ETFs.
• Macro: U.S. jobs report and EU GDP on Friday will dictate risk sentiment.

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📌  Bottom line: Macro shifts are colliding with fresh institutional flows, leaving crypto straddling legitimacy and meme-driven momentum.

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📅 Missed last week’s update? Catch up on all headlines in the previous Portofino Mint.

𝘛𝘩𝘪𝘴 𝘮𝘦𝘴𝘴𝘢𝘨𝘦 𝘪𝘴 𝘧𝘰𝘳 𝘪𝘯𝘧𝘰𝘳𝘮𝘢𝘵𝘪𝘰𝘯𝘢𝘭 𝘱𝘶𝘳𝘱𝘰𝘴𝘦𝘴 𝘰𝘯𝘭𝘺 𝘢𝘯𝘥 𝘥𝘰𝘦𝘴 𝘯𝘰𝘵 𝘤𝘰𝘯𝘴𝘵𝘪𝘵𝘶𝘵𝘦 𝘪𝘯𝘷𝘦𝘴𝘵𝘮𝘦𝘯𝘵 𝘢𝘥𝘷𝘪𝘤𝘦. 𝘐𝘭𝘭𝘶𝘴𝘵𝘳𝘢𝘵𝘪𝘰𝘯 𝘨𝘦𝘯𝘦𝘳𝘢𝘵𝘦𝘥 𝘸𝘪𝘵𝘩 𝘊𝘩𝘢𝘵𝘎𝘗𝘛.

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