Multicoin Plans $1B Solana Treasury Vehicle as SOL Strategies Gains Nasdaq Approval

Bitcoin Drops Below $111K After Weak US Jobs Data as Gold Hits Record, Traders Eye $100K Retest

Bitcoin spiked to $113,400 before plunging nearly $3,000 as weak US jobs data rattled markets, sending gold to new all-time highs. The disappointing nonfarm payrolls report, showing just 22,000 new jobs versus 75,000 expected, fueled expectations of a Federal Reserve rate cut at the Sept. 17 FOMC meeting. Despite the macro tailwind, BTC gave up all gains, with traders eyeing $113,000 as a key resistance-turned-support level. Analysts remain cautious, warning of potential downside toward $100,000 or even the $92,000–$94,000 CME gap if momentum fails to recover.

Justin Sun Urges WLFI to Unfreeze $9M Token Allocation After Blacklisting Sparks Selling Allegations

Tron founder Justin Sun is demanding World Liberty Financial (WLFI), a Trump family-linked crypto project, to unfreeze his token allocation after his wallet was blacklisted for suspicious $9 million transfers. Blockchain trackers flagged Sun’s movements to exchanges, sparking accusations that he was selling despite pledges to hold long-term. WLFI froze his tokens, prompting Sun to claim the decision violated investor rights and undermined confidence in the project. While some analysts accused him of offloading, others, including Nansen’s Alex Svanevik, argued data suggests he has not sold. Sun insists his tokens were “unreasonably frozen” and calls for their release.

Seyffart Says DATCOs, Not Token Rallies, Define Altcoin Season as Institutions Favor Basket ETFs Over Single-Asset Plays

Bloomberg ETF analyst James Seyffart argues that the current altcoin season is playing out through digital asset treasury companies (DATCOs) rather than traditional token rallies. While the SEC is preparing to approve ETFs for assets like DOGE, SOL, and LINK, Seyffart expects demand to fall far short of Bitcoin ETFs. Instead, institutions will favor diversified crypto baskets from firms like Grayscale and Bitwise over single-asset products. He highlights a structural shift where capital once driving altcoin booms now flows into regulated equity-style vehicles, suggesting that institutionalization may permanently change how altcoin seasons unfold.

SOL Strategies Wins Nasdaq Approval Under Ticker STKE as First Solana Treasury Company to List in US

SOL Strategies, the first Solana-focused digital asset treasury company, has secured approval to list its shares on Nasdaq under the ticker STKE, Blockworks exclusively reported. Formerly Cypherpunk Holdings, the firm rebranded in 2024 under CEO Leah Wald, pivoting to a staking-heavy Solana strategy with validator acquisitions and ecosystem initiatives. Its stock has surged nearly 900% over the past year, though with $90 million in SOL holdings, it remains smaller than three US-based Solana DATs holding $380–$420 million each. The Nasdaq listing opens SOL Strategies to US investors, marking a milestone for Solana-focused public companies and aligning it with peers already trading on major US exchanges.

Multicoin, Galaxy, and Jump Plan $1B Solana Treasury Vehicle With Kyle Samani as Chairman

Multicoin Capital, Galaxy Digital, and Jump Crypto are planning a $1 billion Solana digital asset treasury company (DAT), with Multicoin managing partner Kyle Samani expected to serve as chairman. The vehicle would be formed through the takeover of a publicly traded entity, though the transaction has not yet occurred. Samani, a longtime Solana advocate since its 2018 seed round, could emerge as the network’s equivalent of Michael Saylor, publicly championing SOL through media and social platforms. If successful, the venture would become the largest Solana treasury company, surpassing Upexi’s $413 million NAV. Currently, only 1% of SOL is held in treasury vehicles, compared to 3.4% of BTC and 2.9% of ETH.