The total market capitalization of the top 100 crypto assets excluding stablecoins is increasingly concentrating in a narrower group of large assets rather than spreading across a wider altcoin base. Data from CryptoRank dated September 10, 2026, shows that the share of the seven major crypto assets referred to as the MAG7 has risen to 92.1%.

This ratio covers the total market capitalization of Top-100 crypto assets excluding stablecoins. While the MAG7’s share was at 91% in 2021, it dropped to 80.2% in 2022, only to rise again every year thereafter. The share reached 85.9% in 2023, 86.1% in 2024, and 88.5% in 2025.

Bitcoin’s Share Within the Top-100 Rises to 66.6%

The most prominent part of the concentration was Bitcoin. Bitcoin’s share in the same metric reached 66.6%, hitting its highest level in the last five years. This ratio was recorded as 56.7% in 2021, 44.9% in 2022, and 50.2% in 2023.

Bitcoin’s share rose to 56.7% in 2024 and 61.7% in 2025. Thus, while the weight of both Bitcoin and the MAG7 group in the total market capitalization increased, the share of the broader altcoin market narrowed.

CryptoRank data indicates that market growth is relying more heavily on a small number of large crypto assets.

Bitcoin’s Share in Top 100 Crypto Assets Excluding Stablecoins Rises to 67%: 5-Year Peak isimli makale Fatih TAŞDEMİR tarafından hazırlanmış ve koinbulteni.comda yayınlanmıştır.

According to Lookonchain’s September 11 post, an anonymous address starting with 0x396d opened a 911.55 Bitcoin (BTC) long position approximately 10 hours ago. The total value of the position was recorded at $70.08 million.

The trading dashboard shows the position was opened with 40x cross leverage at an entry price of $77,733.2. If the Bitcoin price drops to $76,308.6, the position could be liquidated.

$774,000 unrealized loss on Bitcoin position

At the time of the post, the position’s mark price was at $76,947. The screenshot shows the trade carrying an unrealized loss of $774,088.93 at this stage.

Lookonchain also reported that the whale has closed 92.5% of its 80 recent Bitcoin trades in profit. The $76,947 mark price on the screen was approximately $638 above the $76,308.6 liquidation level.

Anonymous Whale Faces $774,000 Loss on $70 Million 40x Bitcoin Position isimli makale Fatih TAŞDEMİR tarafından hazırlanmış ve koinbulteni.comda yayınlanmıştır.

According to reports from The Block, Senator Cynthia Lummis and other Republicans have unveiled the new text of the Clarity Act, which aims to regulate the cryptocurrency industry at the federal level. The first procedural vote on the bill in the Senate is scheduled for September 15.

The most significant change in the revision involves new provisions for non-decentralized crypto trading protocols. The bill stipulates that these protocols must register with the Commodity Futures Trading Commission (CFTC). Additionally, the CFTC and the Treasury Department are tasked with drafting detailed rules for the relevant sector.

Clarity Act mandates CFTC registration for non-DeFi trading protocols

The text defines non-decentralized protocols as structures managed by individuals or groups that can directly or indirectly control or materially change their operation or rules.

The new section is reported to be among the clauses Democratic senators requested to be added to the bill. Lummis argued that the bill is a bipartisan effort, stating that more than 114 provisions were added to the text in line with the requests of her Democratic colleagues.

The revised text specifies that DeFi provisions will only apply to spot and cash digital commodity transactions. Lummis stated that this change aims to address concerns raised by tribal governments regarding how prediction markets would be affected by the bill. Some clarifications regarding the cryptocurrency activities of credit unions were also added to the text.

No major changes to ethics provisions

There are no significant changes in the ethics section of the bill. The current text prohibits public officials, government employees, and their spouses from issuing or endorsing digital assets. Primary authority for enforcing the provisions is granted to the Department of Justice, and the regulation is scheduled to sunset in January 2029.

According to Politico, the revised text does not currently have Democratic support. This could make it difficult for the bill to pass the Senate. The Clarity Act is facing a challenging path due to the stablecoin rewards debate between banks and the crypto sector, concerns over illicit finance, and unresolved issues regarding how to handle the hundreds of millions of dollars in crypto wealth linked to President Donald Trump’s World Liberty Financial and the TRUMP memecoin.

U.S. Crypto Bill Updated: Registration Requirement Proposed for Non-Decentralized Platforms isimli makale Fatih TAŞDEMİR tarafından hazırlanmış ve koinbulteni.comda yayınlanmıştır.

Today, many tokenized securities maintain two records: the on-chain record showing token ownership and the official shareholder list considered legally valid. The U.S. Securities and Exchange Commission (SEC) has proposed a framework that could end this distinction with its proposal to update transfer agent rules that are nearly 50 years old.

If the proposal is accepted, electronic databases and blockchain ledgers could be used as the official record of security ownership. This would allow blockchain to move beyond being just a technology added on top of existing market infrastructure and instead function as the legally recognized primary record.

The era of double registration for tokenized shares may change

In these structures, issuers and transfer agents are forced to compare blockchain activity with the official shareholder record and reconcile the records after every transfer. If the SEC’s proposal is implemented, this process could be conducted around a single master record.

Joris Delanoue, CEO of the on-chain transfer agent Fairmint, noted that official records of ownership historically consisted of paper in a filing cabinet, whereas today they are kept as a database. Delanoue stated that the proposal could allow blockchain to be used as this database.

Eli Cohen, legal lead at Centrifuge, expressed that these two separate recording systems could create serious confusion in cases of insolvency or bankruptcy. Having blockchain as the primary security record could reduce the risk of ownership information conflicting across different systems.

Regulations and transfer agent duties will continue

The proposal does not mean that tokenized securities will be exempt from ownership and transfer rules. Even if the blockchain is public, tokens will continue to function alongside identity checks, ownership requirements, and transfer restrictions.

The duties of transfer agents will also remain. These institutions will need to continue tasks such as inheritance proceedings, legal notices, address changes, ownership restrictions, and the correction of erroneous records. In other words, simply running a smart contract will not be enough to manage the official record of ownership.

The proposal notes that the current 3-5 day period for processing documents received via mail could be reduced to 1 day. A 60-day public comment period will be held for the regulation, ending at the beginning of November. Tokenization companies and traditional financial institutions are expected to submit their views on the proposal during this period.

SEC’s 50-Year Rule Move: Double Registration for Tokenized Securities Could End isimli makale Selim Kuşçu tarafından hazırlanmış ve koinbulteni.comda yayınlanmıştır.

The European Securities and Markets Authority (ESMA) reported that Polymarket and Kalshi lack the EU authorizations typically required to serve EU users. The agency emphasized that the contracts offered by prediction markets may be subject to different regulations depending on their nature.

On these platforms, users trade on future events such as elections, sporting matches, cryptocurrency prices, and economic developments. The contracts provide a fixed payout if a specific outcome occurs; otherwise, they pay nothing.

ESMA noted that while the two platforms restrict users in some EU countries, they have not added all member states to their restricted lists. The agency stated that this could increase the risk of providing unauthorized services and violating existing restrictions aimed at retail investors.

Legal status of prediction contracts varies by agreement

The regulatory body also questioned how effectively the platforms block VPN connections, which can be used to hide user locations. In July, France instructed internet service providers to block access to Polymarket, while similar restrictions have been implemented in countries such as Switzerland, Poland, Singapore, Belgium, Portugal, Spain, and Brazil.

The legal status of the contracts can vary based on their content. They may be considered financial instruments, crypto-assets under MiCA if based on distributed ledger technology but not classified as financial instruments, or gambling products under national law. Contracts deemed financial instruments may be subject to binary option restrictions aimed at retail investors.

ESMA also noted that major tech companies have borrowed heavily to finance AI spending; it stated that these expenditures have inflated valuations, increasing the risk of an AI bubble. A warning was issued that if AI investments fail to meet expectations or if debt pressure triggers a sell-off in tech stocks, major investors might sell their crypto-assets to meet liquidity needs.

Bitcoin fell by 35 percent in the first half of 2026, while losses in smaller tokens reached 61 percent. With more than $5.5 billion in outflows from spot Bitcoin exchange-traded funds in the US, spot Ether funds also saw outflows of approximately $2 billion. ESMA reported that a new sell-off in tech stocks could increase pressure on crypto-assets.

European Regulator Warns: Crypto Could Face Pressure if Tech Stocks Are Sold isimli makale Fatih TAŞDEMİR tarafından hazırlanmış ve koinbulteni.comda yayınlanmıştır.

The bankruptcy of the Bitcoin ATM industry’s largest provider has paved the way for thousands of the company’s kiosks to be transferred to a much smaller rival. According to court records, Bitcoin Bancorp submitted the highest bid for 2,547 ATMs out of Bitcoin Depot’s total of more than 9,200 devices.

The Las Vegas-based publicly traded digital asset infrastructure company will pay $620,750 for these devices. The deal doesn’t only cover the ATMs; Bitcoin Bancorp will also pay an additional $110,500 for related site contracts, intellectual property, trademarks, patents, and the BitcoinDepot.com domain name.

Bitcoin Depot filed for bankruptcy protection in May 2026. While the company’s first-quarter revenue dropped 49 percent year-over-year, it swung from a $12.2 million profit to a $9.5 million loss during the same period.

Bitcoin ATM network moves to small company

The auction won by Bitcoin Bancorp suggests that the physical infrastructure is changing hands between new players rather than the industry disappearing entirely. Bitcoin Depot had reported the value of its property and equipment as over $26 million in the fourth quarter of 2025. It was stated that kiosks accounted for 98 percent of these assets, but this valuation does not cover exactly the same scope as the 2,547 ATMs subject to the sale.

The market capitalization of Bitcoin Bancorp, which trades on OTC Markets, stands at approximately $18.5 million. The company lags significantly behind the roughly $400 million market cap Bitcoin Depot reached during its time on Nasdaq. Bitcoin Bancorp announced that the remaining closings are subject to customary conditions and that the transactions are expected to be completed in the coming quarter.

Regulatory pressure challenges the ATM industry

Crypto ATMs have come under tighter scrutiny recently due to fraud cases and increasing regulatory pressure. Losses caused by crypto ATM fraud reached $389 million in 2025, an increase of 58 percent compared to the previous year. While the United Kingdom declared crypto ATMs illegal, similar restrictions were introduced in Australia and Canada.

According to Companies History data, nearly 39,000 crypto ATMs were in operation worldwide in March. While 77.7 percent of these devices were located in the US, the top 10 operators controlled 78.2 percent of the total ATMs.

Post-Bankruptcy Small Rival Wins $620,000 Bid for 2,547 Bitcoin ATMs isimli makale Selim Kuşçu tarafından hazırlanmış ve koinbulteni.comda yayınlanmıştır.

The collaboration between Coinbase and payment infrastructure provider Moov aims to offer over 1,000 community banks and credit unions services such as stablecoin payment acceptance, settlement, and real-time funding. The partnership aims to connect these features to existing banking infrastructures without building a new crypto system.

In the planned integration, Coinbase’s Payments API and custodial wallets will be added to Moov’s existing payment platform. This will allow institutions to offer services such as consumer payments, merchant stablecoin acceptance, payment settlement, and disbursements.

Stablecoin Infrastructure to Be Brought to Small Financial Institutions

Ryan VanGrack, Coinbase’s lead for institutional relations, stated that local banks and credit unions need new technologies compatible with their current systems to compete with large financial institutions. Moov will provide access to these institutions through its existing payment platform.

Jill Castilla, CEO of Citizens Bank of Edmond, said small businesses are looking for lower payment costs and faster collection. The use cases targeted by the partnership include stablecoin-based solutions that can enable businesses to receive payments faster.

Coinbase’s banking strategy is expanding from crypto trading and custody services toward providing embedded payment infrastructure that traditional financial institutions can use directly. The company partnered with PNC in July 2025 to offer crypto services to banking customers and subsequently established similar connections with Citi and JPMorgan.

Over 1,000 Financial Institutions Will Be Able to Offer Stablecoin Payments Without Building New Systems isimli makale Selim Kuşçu tarafından hazırlanmış ve koinbulteni.comda yayınlanmıştır.

According to a company spokesperson speaking to The Block, the MoneyGram Card supports USDC balances at the launch phase. Users can spend this balance wherever Visa is accepted and withdraw their MoneyGram balances as local currency from the company’s locations.

MoneyGram’s new product moves stablecoin usage beyond money transfers, linking it to everyday shopping. Currently active only in Colombia, the digital card can be obtained via the MoneyGram app. Users can manage their balances from the app and add the card to their mobile wallets for online or contactless payments.

Card unlocks balance for spending

Customers wishing to benefit from the card must be located in an active market and complete MoneyGram’s Know Your Customer (KYC) process. Following Colombia, the company plans to expand to other countries in Latin America, though it has not yet shared a specific list of countries.

MoneyGram plans to add its own dollar-pegged cryptocurrency, MGUSD, to the card in the near future. However, this asset is not among the options supported at the card’s launch. The company also specifies that the new card is not a traditional bank account or fiat balance.

The card was developed with Rain; Crossmint’s wallet features and the Stellar network were used for the infrastructure. MoneyGram had previously terminated its MoneyGram Account product, which included physical and digital Visa debit cards issued by Pathward, in December 2025.

The company plans to offer a physical card option in late 2026. This option will allow users to withdraw cash from ATMs and make payments in stores where digital cards have more limited acceptance.

Payment Company Launches First Stablecoin-Backed Visa Card in Colombia isimli makale Fatih TAŞDEMİR tarafından hazırlanmış ve koinbulteni.comda yayınlanmıştır.

Nasdaq, Boerse Stuttgart, Adan, the Crypto Council for Innovation, and the European Ethereum Institute conveyed their demands through a joint letter sent to the European Council and the European Parliament. Industry representatives argued that the new limit proposed by the European Union would restrict the growth of tokenized financial products.

The EU’s pilot regime allows for the representation of stocks, bonds, and investment funds as digital assets on the blockchain, as well as the testing of the trading and settlement of these products. Following limited participation in the pilot regime, the European Commission proposed raising the current €6 billion cap to €100 billion.

Industry’s Target is €1.5 Trillion

The organizations, however, find the €100 billion proposal insufficient. The coalition wants the cap to be completely removed or raised to at least €1.5 trillion. This figure is 15 times higher than the limit proposed by the Commission.

The cap mentioned in the letter refers to the total market value of the securities accepted on the platforms, not the transaction volume. Therefore, even if very few transactions occur on a platform, the total value of the supported assets can reach the limit.

The organizations also opposed granting higher limits to central securities depositories than to other blockchain-based market operators. Stating that such a practice could put new service providers at a disadvantage, the coalition requested that if the limit is to be maintained, the Commission should be able to increase this boundary as the market grows, and that future increases not be tied to a pre-determined upper limit.

Objection to the Proposed €100 Billion Limit in the EU’s Tokenization Pilot: What Does the Industry Want? isimli makale Fatih TAŞDEMİR tarafından hazırlanmış ve koinbulteni.comda yayınlanmıştır.

A technical study prepared by Theta Labs CTO Jieyi Long and researchers from various crypto projects and academic institutions reduced the resource score of a circuit designed for this critical operation from 10.75 billion points to 1.496 billion points. Although this result is less than half the level previously announced by Google, it was noted that the two studies used different calculation methods.

Researchers calculated the cost in question by combining the number of logical qubits required by the circuit with the number of Toffoli gates, which constitute a significant part of the processing time. The circuit prepared at the end of the open competition, which lasted about two months, required 1,151 logical qubits and 1.30 million Toffoli gates.

Resource costs dropped rapidly in quantum research

More than 100 people, including researchers associated with the Ethereum Foundation, Eigen Labs, StarkWare, Starknet Foundation, Theta Labs, Brevis, Sei Labs, and Trail of Bits, contributed to the competition. Researchers announced that progress continued even after the paper’s submission deadline. One of the subsequent designs reduced the number of Toffoli gates to 952,707, while another reduced the logical qubit requirement to 813.

Google Quantum AI announced a 2029 target in March for transitioning to quantum-resistant cryptography. However, the company did not publish the details of its own circuit. The comparison between the new study and Google’s measurement was presented only as a numerical reference due to different interfaces and accounting rules.

The circuit presented in the study is not an actual attack. Researchers did not account for physical error correction and did not provide a full implementation of Shor’s algorithm.

Quantum security preparations continue for Bitcoin and Ethereum

The development has reignited the discussion on why preparations for cryptographic transition must begin years in advance, even though the quantum threat has not yet materialized. Coinbase’s Quantum Computing and Blockchain Independent Advisory Board estimates that approximately 7 million BTC are held in public-key addresses that could be exposed to quantum attacks in the future. The board also emphasized that no quantum computer capable of performing such an attack exists today.

Ethereum, on the other hand, targets December 2029 to achieve full security against quantum attacks in its execution, consensus, and data layers. Long stated that the issue must be addressed now because solutions cannot be applied retroactively and preparations can take years.

Resource Needs for Critical Operation in Potential Quantum Attack Dropped by 86%: Why Now? isimli makale Selim Kuşçu tarafından hazırlanmış ve koinbulteni.comda yayınlanmıştır.

Nasdaq has agreed to make a $100 million investment in Payward through its venture capital arm, Nasdaq Ventures. As part of the expanded partnership, Payward—the parent company of Kraken—will use Nasdaq’s trade surveillance technology on its platforms for various financial products.

Nasdaq’s surveillance technology will be utilized across crypto, equities, tokenized equities, futures, and options platforms. According to Nasdaq’s statement, the collaboration focuses on adapting infrastructure from traditional financial markets to blockchain-based products.

According to a Bloomberg report citing people familiar with the matter, Payward is being valued at $21 billion as part of this investment.

2027 Target for Nasdaq Equity Tokens

The parties are advancing Nasdaq’s Nasdaq Equity Tokens (NETs) project in conjunction with Payward’s xStocks ecosystem. The project, which aims to enable tokenized equities to be traded on the blockchain, is expected to launch in the second quarter of 2027.

Nasdaq had previously announced that it would develop the necessary infrastructure for NETs and connect the system with Payward’s xStocks ecosystem. Payward co-CEO Arjun Sethi noted that more than $2 trillion in equity trades pass through the clearing system in the U.S. every day, stating that blockchain-based clearing could reduce waiting times in this process.

Nasdaq President Tal Cohen stated that the partnership reflects the goal of creating an infrastructure that supports capital movements while maintaining trust and transparency. The initial partnership between the two companies began in March 2026, with the aim of developing an equity conversion infrastructure to link regulated markets with blockchain networks.

Nasdaq to Invest $100 Million in Crypto Exchange Parent Company isimli makale Fatih TAŞDEMİR tarafından hazırlanmış ve koinbulteni.comda yayınlanmıştır.

According to a report by CoinDesk, the yield on the 10-year US Treasury note rose to 4.856%. The Treasury Department’s announcement that it would buy back long-term bonds had created expectations for lower borrowing costs. However, the market reaction shifted in the opposite direction of expectations.

The Treasury’s latest operation targets bonds with maturities of 10 to 20 years and involves a $6 billion debt buyback. This amount is at least double the typical $2 billion transactions. Despite this, the 30-year bond yield rose above 5.3%, nearing its peak in August.

Bond buyback failed to reduce borrowing pressure

The buyback program aims to limit the rise in yields and support market liquidity by increasing demand for long-term bonds. Although yields initially declined following the announcement, they later rose sharply.

According to analysts, the fundamental issue is that the buyback does not eliminate the US government’s total borrowing needs. While the Treasury buys back long-term bonds, it continues to finance itself through short-term instruments. This transaction only changes the maturity structure of the debt; it does not reduce new borrowing requirements.

Rising public spending and high federal debt are keeping concerns alive that more bond issuances could occur in the future. As bond yields also rise in Europe and Japan, investors are worried about inflation, oil prices, and the sustainability of public debt.

High yields continue to be a pressure factor for Bitcoin

The rise of long-term bond yields into the 4% to 5% range can exert pressure on risky assets like Bitcoin. This is because every dollar invested in Bitcoin means forgoing the opportunity to earn the 4-5% yield offered by long-term Treasury bonds.

However, this relationship works more strongly during periods when yields rise due to economic growth. In the current uptrend, high public debt, expectations of increased spending, inflation, and oil prices are more prominent. This distinction suggests that the impact of rising bond yields on Bitcoin depends on prevailing economic conditions.

In this environment, Bitcoin is moving sideways around $78,000. WTI oil rising to approximately $97 per barrel also heightens concerns that inflation could remain high for longer through energy costs. This outlook increases fears that energy costs could keep inflation elevated, complicating the Federal Reserve’s task.

US Treasury Yields Rise Despite Buyback: Will Pressure on Bitcoin Persist? isimli makale Fatih TAŞDEMİR tarafından hazırlanmış ve koinbulteni.comda yayınlanmıştır.