Crypto Morning Briefing: Coinbase adds BNB to listing roadmap, Sony Bank plans to issue USD stablecoin

Author: TechFlow

Yesterday's Market Dynamics

Spot gold breaks above $4,200/oz for the first time, rising nearly 1.4% during the day

Spot gold breaks above $4,200/oz for the first time, rising nearly 1.4% during the day

Fed Beige Book: Overall economy unchanged, rising uncertainty may weigh on growth

According to Jin10 News, the Federal Reserve's Beige Book indicates that economic activity has seen little overall change since the previous report. Three districts reported slight to moderate growth, five reported no change, and four reported a slight slowdown in economic activity.

Overall consumer spending, especially retail goods, declined slightly over recent weeks. However, strong demand for electric vehicles boosted auto sales in some regions ahead of the expiration of federal tax credits at the end of September. During the reporting period, demand from international tourists for leisure and hotel services continued to decline, while domestic consumer demand remained largely unchanged. Nevertheless, spending by high-income individuals on luxury travel and accommodations remains strong. Several reports emphasized that middle- and low-income households continue to seek discounts and promotions amid rising prices and increasing economic uncertainty. Manufacturing activity varied by region, with most noting challenging conditions due to higher tariffs and weaker overall demand.

Agricultural, energy, and transportation activities across reporting districts generally declined. Financial services and other interest-sensitive sectors such as residential and commercial real estate showed mixed results; some noted improvements in business lending recently due to lower interest rates, while others continued to highlight sluggish activity. Outlooks for future economic growth vary by region and industry. Sentiment improved in some areas, with expectations of rising demand over the next 6 to 12 months. However, many other regions continue to expect that rising uncertainty will dampen economic activity. One district highlighted the downside risks posed by a prolonged government shutdown to economic growth.

Fed Governor Michelle Bowman: Two more rate cuts this year sounds realistic

Fed Governor Michelle Bowman: Two more rate cuts this year sounds realistic. The labor market has clearly weakened. With shifting risk balances, there is a greater urgency to move toward a more neutral policy stance.

Coinbase adds BNB to its listing roadmap

According to official news, Coinbase has added BNB to its new listing roadmap.

Meteora: MET token airdrop allocation checker to go live today at 8 PM

According to Meteora’s official disclosure, the MET token airdrop allocation checker will officially launch at 8 PM UTC+8 today. On the website, users can:

1. Select to participate in liquidity distribution via NFT, accounting for 7%, first-come-first-served;

2. View detailed allocation breakdowns for each element;

3. Browse TGE launch website and related videos.

Users do not need to register to claim their MET allocation; the default option is direct receipt of MET.

He Yi responds to "K-line data manipulation" allegations: Binance uses mark price to avoid extreme pricing on single platforms

He Yi responded on X regarding the "data modification" issue, stating: "If you’ve traded on Binance, compare the liquidation price of the same project. Binance Futures uses the mark price—i.e., a weighted average price across multiple platforms after excluding outliers—feel free to verify independently. Historically, some platforms used only their own prices, making users vulnerable to being liquidated by spot market manipulations, leading people to suspect platform malpractice. One innovation of Binance Futures is using mark price for liquidations to avoid extreme prices on a single platform. There was neither motive nor reason behind the K-line incident—it was simply someone on the team acting impulsively, thinking the announcement had already clarified everything. The only impact was that one user profited tens of dollars from an old order placed years ago during a momentary order book vacuum."

Additionally, He Yi stated: "With a large team, it's hard to manage everyone. When delegating, I have to step in to apologize and clean up messes. Binance is still Binance, but execution needs constant refinement."

OKX Star: Any crypto deposits or withdrawals involving Huione Group will be investigated, funds may be frozen

OKX CEO Star posted on social media: "Huione Group has caused serious damage to the cryptocurrency sector. In light of its negative impact, OKX has implemented strict control measures.

All crypto deposits or withdrawals related to Huione will be investigated. Based on investigation results, funds may be frozen and relevant accounts may be terminated."

SBF claims on social media that he suffered political persecution by the Biden administration

SBF posted on the social platform GETTER: "In 2020, I held center-left views. By 2022—after witnessing the stance of Gensler/Biden’s Department of Justice toward crypto—I became centrist and (privately) donated tens of millions of dollars to Republicans.

Within weeks, Biden’s anti-crypto SEC/DOJ began targeting me. They arrested me just weeks before a crypto bill I was advancing came up for vote—and the night before I was scheduled to testify before Congress.

House Republicans said my arrest was 'to prevent Sam Bankman-Fried...from testifying' and demanded Gensler release information about 'the timing of charges and his arrest [which] raises serious questions about the Biden administration’s SEC/DOJ.'"

Sony Bank applies to U.S. Office of the Comptroller of the Currency for national bank charter, plans to issue USD stablecoin

According to Decrypt, Sony Bank has applied through its subsidiary Connectia Trust to the U.S. Office of the Comptroller of the Currency (OCC) for a national bank charter to engage in "specific activities involving cryptocurrencies."

Per the application, Sony Bank plans to issue a USD-pegged stablecoin, maintain corresponding reserve assets, and provide digital asset custody and management services. This application joins a growing list of crypto firms seeking OCC charters, including Stripe, Coinbase, Paxos Trust, and Circle.

YZi Labs announces lead investment in Better Payment Network's $50 million funding round

According to official news, YZi Labs announced leading a $50 million funding round for Better Payment Network (BPN), aiming to accelerate development of multi-stablecoin payment infrastructure. The new funds will primarily support building liquidity pools between stablecoins and developing early market-making ecosystems.

BPN is a programmable payment network built on BNB Chain that enables fiat-backed stablecoin minting, exchange, and settlement through a unified layer, connecting centralized and decentralized finance. The network adopts a CeDeFi dual-track system supporting real-time stablecoin minting, swapping, and burning, reducing cross-border settlement times from traditional 1–2 days to 3–4 hours, and lowering average costs from around 2% to 30 basis points.

The centralized finance model serves enterprises and licensed payment institutions, already enabling real-time conversion across major non-USD corridors such as Brazilian Real stablecoin BBRL, Nigerian Naira stablecoin cNGN, Mexican Peso stablecoin MEXAS, and Euro stablecoin EURI. The decentralized finance model is planned for launch by year-end, supporting 20 regional stablecoins across Latin America, Africa, and Asia.

CMB International’s $3.8 billion USD money market fund expands on-chain distribution via BNB Chain

According to CMB International, its USD Money Market Fund is expanding its on-chain distribution network on BNB Chain through distribution partner DigiFT and technology provider OnChain. This move broadens subscription channels for qualified investors to access institutional-grade RWAs on BNB Chain. The fund conducts on-chain distribution by issuing tokenized products linked to its performance via DigiFT.

Bai Haifeng, Head of Asset Management at CMB International, stated that leveraging BNB Chain’s robust blockchain infrastructure enables secure and compliant expansion of money market strategies to a broader investor base.

Market Movements

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