Forward Industries lands $1.65B Solana treasury boost as 13-year dormant Bitcoin whale awakens

Trump CFTC Chair Nominee Brian Quintenz Accuses Tyler Winklevoss of Lobbying Against Him as Gemini IPO Nears $3.1 Billion Valuation

Brian Quintenz, President Trump’s nominee for CFTC Chairman, accused Gemini co-founder Tyler Winklevoss of lobbying Trump against his nomination after he declined to take sides in Gemini’s legal battle with the CFTC. Quintenz released private July 2025 messages showing Winklevoss pressing him for alignment on Gemini’s complaint against CFTC staff, which followed the exchange’s $5 million settlement earlier that year. Winklevoss expressed disappointment in Quintenz’s neutral stance and later urged Trump to reconsider his nomination. The dispute adds fresh uncertainty to Quintenz’s stalled confirmation process, which has lingered for seven months. Meanwhile, Gemini prepares for its IPO on September 12 at a valuation target of $3.1 billion.

Forward Industries Secures $1.65 Billion PIPE Led by Galaxy Digital Jump Crypto and Multicoin to Build Solana Treasury

Forward Industries (NASDAQ: FORD) has closed a $1.65 billion PIPE financing led by Galaxy Digital, Jump Crypto, and Multicoin Capital, with participation from Bitwise, SkyBridge, ParaFi, and other major digital asset investors. The company plans to use the proceeds to establish a Solana-based treasury, purchase SOL for working capital and future transactions, and position itself as the leading publicly traded institutional participant in the Solana ecosystem. Kyle Samani of Multicoin has been appointed Chairman of the Board, with Galaxy and Jump executives joining as observers. Forward Industries aims to leverage Solana’s rapidly growing DeFi and developer ecosystem, which processed 8.9 billion transactions in Q2 2025 and added over 7,500 developers in 2024.

13-Year Dormant Bitcoin Wallet Moves 137 BTC Worth $15.6 Million as OG Whale Activity Surges

A Bitcoin wallet that had remained dormant for nearly 13 years moved 137.03 BTC ($15.6 million) on Thursday, according to onchain data. Of that, about 132 BTC was sent to a new address and 5 BTC to a Kraken deposit address. The wallet, which last received 137.03 BTC in November 2012 when the total balance of 444.81 BTC was worth just $5,437, still holds around 307.79 BTC ($35.1 million). The owner and reasons for the transfer remain unknown, though the Kraken deposit could suggest selling. This movement follows a trend of increased activity from long-dormant “OG” Bitcoin wallets as BTC hits new all-time highs, including other wallets that recently transferred hundreds of millions worth of BTC or rotated funds into Ethereum.

Avalanche Foundation Targets $1 Billion Raise Led by Hivemind and Dragonfly to Fuel AVAX Treasury Projects

The Avalanche Foundation is reportedly seeking to raise $1 billion to fund digital asset treasury and accumulation projects, according to the Financial Times. The nonprofit plans to sell AVAX tokens at a discount, with the raise split across two deals. The first, a $500 million private placement led by Hivemind Capital, is expected to close this month with Anthony Scaramucci advising. The second, involving Dragonfly Capital through a SPAC, could raise another $500 million but may not finalize until October. At current prices, the raise would amount to around 34.7 million AVAX, or about 8% of circulating supply. The fundraising push comes as AVAX has gained momentum, with the token up 16% in the past week and Grayscale recently filing for a spot Avalanche ETF.

Ethena Withdraws From Hyperliquid USDH Bid Clearing Path for Native Markets With 92% Odds on Polymarket

Ethena, developer of the USDe synthetic dollar protocol, has withdrawn its bid to issue Hyperliquid’s USDH stablecoin after community concerns about its non-native status. The move clears the way for Native Markets, now the frontrunner, with Polymarket giving it a 92% chance of winning compared to Paxos at 7%. Ethena’s founder Guy Young praised Hyperliquid’s community-driven process, saying it allows emerging players to succeed. The withdrawal marks a turning point in the competitive bidding process for USDH issuance.