Coinbase Expands Staking Access to New York as Jupiter Partners With Ethena to Launch JupUSD Stablecoin on Solana

Bit Digital Holds 122,187 ETH ($506.6M), Stakes 81.8% and Generates 3.37% Yield, Completes $150M Convertible Notes Offering for Additional ETH

Bit Digital reported its September 2025 Ethereum treasury and staking metrics, holding approximately 122,187 ETH valued at $506.6 million. During the month, the company acquired 653 ETH, with an average acquisition price of $2,643.27. Around 81.8% of holdings (99,936 ETH) were staked, generating 291 ETH in rewards for an annualized yield of 3.37%. Bit Digital also owns 27 million WYFI shares and recently completed a $150 million convertible notes offering to acquire more Ethereum. The company operates one of the largest institutional Ethereum staking infrastructures and will participate in the AIM Summit Dubai on October 22-23.

Polymarket Raises $205 Million in Undisclosed 2024-25 Rounds Ahead of $2 Billion ICE Deal, Valuation Reaches $9 Billion

Polymarket CEO Shayne Coplan revealed two previously undisclosed funding rounds totaling $205 million: $55 million in 2024 led by Blockchain Capital at a $350 million valuation, and $150 million in 2025 led by Founders Fund at a $1.2 billion valuation. Including earlier rounds, Polymarket has raised around $279 million before the Intercontinental Exchange (ICE) deal, which could invest up to $2 billion, valuing the company at $9 billion. Polymarket operates a crypto-native prediction market, and the ICE partnership will make ICE a global distributor of Polymarket’s event-driven data and support future tokenization initiatives.

YZi Labs Launches $1 Billion Builder Fund to Boost BNB Chain Innovation Across DeFi, AI, Payments and Real-World Assets

YZi Labs, formerly Binance Labs, has launched a $1 billion Builder Fund to support developers and projects within the BNB Chain ecosystem. The fund targets areas including DeFi, AI, real-world assets, DeSci, payments, and wallets. Selected teams can receive up to $500,000, along with access to YZi and BNB Chain core teams, a global mentor network, and participation in the EASY Residency accelerator program. The initiative expands to hubs in New York, San Francisco, Dubai, and Singapore. The announcement coincides with BNB reaching fresh highs, trading above $1,320, up nearly 30% in the past week.

Coinbase Secures Approval to Offer Staking in New York, Cites $130 Million in Missed Rewards From State Bans

Coinbase announced that New York residents can now stake assets including Ethereum and Solana following approval from state regulators. The exchange credited Governor Kathy Hochul for fostering regulatory clarity and said the decision marks a step toward broader financial inclusion. Coinbase estimates that residents of other restricted states—California, New Jersey, Maryland, and Wisconsin—have missed out on over $130 million in staking rewards due to local bans. The approval comes after several U.S. states, including South Carolina and Alabama, dropped lawsuits alleging Coinbase’s staking services violated securities laws.

Jupiter Partners With Ethena to Launch JupUSD Stablecoin on Solana Backed by BlackRock’s Tokenized Treasuries

Jupiter, the leading decentralized exchange aggregator on Solana, is launching its own stablecoin, JupUSD, in partnership with Ethena. Set to debut in Q4, JupUSD will initially be fully backed by Ethena’s USDtb, which is collateralized by BlackRock’s tokenized treasury fund BUIDL, with Ethena’s USDe later added as collateral. JupUSD will integrate across Jupiter’s DeFi ecosystem for trading, lending, and perpetuals. With nearly $20 billion in 30-day trading volume, Jupiter aims to make JupUSD a core liquidity asset on Solana. Ethena’s stablecoins USDe and USDtb currently account for over 5% of the $303 billion stablecoin market, up 75% from a year ago.