Backpack has appointed Kyle Samani, co-founder of Multicoin Capital and an early Solana investor, to the Board of Directors of Backpack US.

K. Samani brings deep experience across decentralized finance, blockchain infrastructure, and global capital markets, having played an influential role in the development of the crypto industry. The appointment reflects Backpack’s focus on combining institutional-grade risk controls with the efficiency, transparency, and accessibility of onchain markets.

Samani’s addition comes as crypto platforms increasingly seek to bridge traditional financial infrastructure with onchain markets and institutional capital.

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Two Thai businessmen sued Tether, alleging the stablecoin issuer froze roughly $42.4M in USDT without legal authority.

The plaintiffs claim Tether blacklisted 10 Ethereum addresses in October 2025 following an informal request from a Homeland Security Investigations agent, before any warrant or court order was issued.

More than three months later, a federal magistrate judge issued a seizure warrant outlining plans to burn the restricted USDT, mint replacement tokens, and transfer them to a government-controlled wallet.

Tether has said it works with 340+ law-enforcement agencies across 65 countries and has helped freeze more than $4.4B linked to suspected unlawful activity.

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Securitize and Socios.com are partnering to tokenize equity stakes in professional sports teams, issuing regulated minority interests in clubs under the Socios Equity Token brand.

Socios.com, part of Alexandre Dreyfus's Chiliz Group, will lead sports relationships and fan engagement, while Securitize (NYSE: SECZ) handles the regulated securities issuance, investor onboarding, ownership records and transfers through its regulated affiliates. The first offerings launch through Securitize's authorized European trading and settlement system under the EU DLT Pilot Regime.

Socios.com already works with 70+ organizations, including Arsenal, Manchester City, PSG, FC Barcelona and Juventus, and says it has generated over $700 million for the sports industry since 2018. Securitize manages roughly $5 billion in assets across U.S. and EU infrastructure.

The tie-up targets an estimated $500 billion in global franchise value that stays mostly private, framing tokenized equity, not just fan tokens, as the next way for supporters and investors to own a piece of their club.

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9 fresh projects we caught on the radar this week. Not memecoins, not hype, early-stage with real products: from perps on pre-IPO stocks to a VPN that pays you in USDC.

Nine early-stage crypto projects that surfaced on our radar this week. With a link to each one.

1/ Anchored (RWA)

1:1-backed tokenized Nasdaq stocks and funds, live on Monad. Each token is held against real shares through licensed brokers, so you can trade Apple or a fund onchain on a weekend, no market hours. TradFi equity exposure on crypto rails, on one of the fastest new L1s.

2/ Exotic (Perpetuals)

Perps on pre-IPOs, RWAs and commodities, assets with no public market. Take a leveraged position on a private company or a barrel of oil straight from a wallet, 24/7. The frontier of perps: exposure to things you literally cannot buy on any exchange.

3/ Hadron (Infrastructure)

Programmable prop AMMs on Solana for professional market makers, no token yet. Pools quote around a price feed the operator pushes, routed through Jupiter and OKX, so a desk brings only its quoting logic and skips the chain-specific plumbing. Boring infra, but the layer serious liquidity runs on.

4/ Murk Finance (Privacy)

Swap, lend and earn onchain without exposing your positions. It routes trades through Matcha, lends on Morpho and moves funds without revealing balances or counterparties, launching first on Monad. The privacy layer DeFi has been missing for users who don't want every move public.

5/ Piku Finance (Stablecoin)

A yield-optimized stablecoin backed by market-neutral vaults. Its USP token appreciates instead of holding a flat $1, with backing split across FX arbitrage and blue-chip DeFi strategies. A stablecoin built to earn, not just sit.

6/ Tribeca (Exchange)

A 24/7 global exchange for tokenized assets, built on Base. Stocks, crypto and commodities with private order-matching, instant settlement and round-the-clock price discovery. One venue for every asset class, always open.

7/ Trigr (Trading)

Build, backtest and auto-run trading strategies on Hyperliquid. Design a strategy, test it against history, then hand it to a non-custodial agent that trades it for you. Fund-grade systematic trading in a consumer-simple app.

8/ Trustware (Payments)

Pay any asset on any chain, auto-routed to any destination. Its routing engine finds the optimal path across 70+ chains and thousands of assets, then swaps, bridges and settles in a single transaction, fully non-custodial. The universal deposit layer that hides all the cross-chain mess.

9/ URnetwork (DePIN)

A decentralized VPN that pays you USDC for your bandwidth. Share your connection and earn weekly in USDC on Solana, while traffic routes peer-to-peer through community devices with Tor-like anonymity. Privacy you use and get paid to provide.

The pattern this week: tokenized equities, pre-IPO exposure, private DeFi and paid infrastructure. Nine names betting the next cycle runs on real-world assets and real privacy.

Which one are you watching?

Cluster Protocol hits the market today, and three exchanges opened farming campaigns at the same time. Combined pool: 6,000,000 CP + 60,000 USDT, open to everyone, no allowlist.

Where to farm: OKX Boost — keep ≥$10 balance + $100 volume (ends Sep 3, claim from 10:00 UTC). MEXC Airdrop+ — deposit and trade CP/USDT for the 60K USDT pool. KuCoin — enroll GemSlot, then trade CP across three pools ($250 / $600 tiers + Learn & Earn, up to 17K CP each). First listing day = deepest incentives. DYOR.

Variational launched its first onchain swap markets for gold and the Nasdaq 100, sourcing liquidity directly from TradFi venues.

The new XAU and US100 swaps replace the volatile funding rates of typical perps with stable carry rates tied to USD borrowing costs, giving traders more predictable holding costs. Pricing runs through an RFQ (request-for-quote) model backed by an off-chain liquidity provider, which lets Variational offer deeper books with zero trading fees.

By wiring in TradFi liquidity, the launch pushes onchain derivatives past crypto pairs into commodities and equity indexes, a growing front in the race to bring real-world markets onchain.

The launch is an early push into onchain commodity and index exposure, a slice most perps venues have left to crypto pairs, and one gaining traction as more real-world assets come onchain.

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The Japanese listed firm Remixpoint sold its entire altcoin portfolio to hold only Bitcoin, turning its treasury into a Bitcoin-only book as of September 1.

The sale cleared 901.45 ETH, 13,920 SOL, 1.19 million XRP and 2.8 million DOGE, raising about ¥879 million ($6 million) at a roughly ¥118 million profit. Remixpoint said the move consolidates its crypto holdings into a Bitcoin-centered strategy for holding and operations going forward.

After the switch, Remixpoint holds around 1,506 BTC as its sole crypto asset, keeping it Japan's second-largest corporate Bitcoin holder behind Metaplanet.

The pivot echoes a wider corporate playbook set by Metaplanet and Strategy, where listed firms treat Bitcoin as a primary reserve asset rather than a diversified crypto basket.

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pto

The world's most valuable private companies are AI labs: Anthropic ($965B) and OpenAI ($852B). But #3 isn't a chip maker or a social app. It's Tether, a stablecoin issuer targeting valuation of ~$500B, ahead of ByteDance, Stripe, and Revolut.

And it's not alone. Of the 10 biggest private companies on the planet, four have crypto at the core: Tether (USDT), Stripe (bought Bridge for $1.1B, Tempo Layer 1), Revolut (Revolut X + its fresh EURR stablecoin), and Ant Group (AntChain + a Hong Kong stablecoin bid).

While the market still debates whether crypto is a "real" industry, it already sits in the top ranks of global private capital, quietly.`

The Nasdaq-listed Hyperliquid Strategies expanded its committed equity facility to $2.5 billion from $1 billion, the HYPE treasury company disclosed in an 8-K filed on September 1.

The facility, a ChEF Purchase Agreement with Chardan Capital Markets first signed in October 2025, lets the firm sell newly issued common stock to the bank on demand. After the first $1 billion in sales, a Nasdaq rule caps stock priced below $12.02 at 42.6 million shares, or 19.99% of shares outstanding.

As of June 30 the company had sold roughly $647 million of stock under the deal, and as of August 23 it held about 29.4 million HYPE. It gave no reason for the expansion, but the added headroom lets it keep raising to grow its treasury.

HYPE traded near $83 at the time, down about 1% on the day. Shares of Hyperliquid Strategies (PURR) fell 7.3% to $11.36, though the stock is still up roughly 230% year to date.

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