Daily Market Wrap | Sep. 23

Hot Topics

• White House aims to pass crypto market structure bill by 2025, merging CLARITY Act and others for comprehensive regulation.
• China's CSRC urges brokerages to pause RWA tokenization in Hong Kong to manage risks, potentially slowing digital asset growth.
• PayPal Ventures invests in Stable to integrate PYUSD into Stablechain, boosting speed, liquidity, and cross-border payments in emerging markets.

Market Updates

• Hyperliquid's on-chain perpetuals market share drops to 38% as Lighter and Aster rise to 16.8% and 14.9%.
• Plasma launches Plasma One, a stablecoin-native neobank for emerging markets, ahead of its Sept. 25 mainnet beta.
• UXLINK's multisig wallet hack led to $11.3M in stolen assets, billions of minted tokens, a 70% price crash to $0.09, and a planned token swap.