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Read in-depth analysis of crypto news

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Wednesday, 09/16/2026

Data: The total net inflow of the US SOL spot ETF in a single day is $1.3463 million

According to SoSoValue data, the total net inflow of the SOL spot ETF in a single day is 1.3463 million USD. Yesterday, only the Bitwise Solana Staking ETF (BSOL) had a net inflow, with a single-day net inflow of 1.3463 million USD, and the historical total net inflow has reached 1.039 billion USD.As of the time of publication, the total net asset value of the SOL spot ETF is 1.381 billion USD, with a SOL net asset ratio of 2.41%, and the historical cumulative net inflow has reached 1.369 billion USD.

Michael Kong: Terminated involuntarily from Sonic Labs, the other party refuses to fulfill the agreement

Former Fantom Foundation Chief Information Officer and CEO Michael Kong stated that Sonic Labs issued a notice that its relationship with the company has been terminated immediately, but on the same day, they still sought his help and expressed hope for his well-being. The notice did not provide a reason, and the impression created of possible misconduct is false.Kong stated that his departure was not voluntary. After eight years, both parties negotiated and signed a severance and termination agreement. For the past two and a half months, Sonic Labs has repeatedly promised to fulfill the agreement but is now refusing to do so, and the existing contractor agreements have also not been fulfilled. The termination agreement stipulates that both parties shall not publicly disparage each other, but Sonic Labs has made it public, causing damage.Kong mentioned that he worked at Fantom/Sonic for over eight years and almost single-handedly won a $150 million lawsuit for the company in Korea, which was described as the largest cryptocurrency dispute in Korea at the time. He reserves all rights to any claims against Sonic Labs and its affiliates.

Machi Big Brother's High-Leverage ETH Longs Hit Repeated Stop-Losses, Account Value Plummets from $12.3 Million to $1 Million

Odaily News: According to on-chain analyst Ember, Machi Big Brother (machibigbrother) grew approximately $150,000 into $12.3 million in August by rolling long positions on ETH, during which ETH rose from about $1,900 to $2,500.

Entering September, ETH fluctuated between $2,400 and $2,600, and Machi Big Brother suffered multiple stop-losses due to high-leverage rolling positions. His account value has now retracted from $12.3 million to approximately $1 million. If ETH drops another few dozen to one hundred dollars, his remaining positions may be liquidated.

Earlier news: Machi Big Brother closed out his BTC and HYPE long positions yesterday.

a16z Partner: Crypto Fundamentals Remain Strong, Will Continue Pushing for Clear Regulatory Rules

Odaily News: a16z partner Chris Dixon posted on X regarding the CLARITY Act's failure to pass a procedural vote in the U.S. Senate, saying that despite disappointment with the vote result, the crypto industry's fundamentals remain stronger than ever.

Dixon said that billions of dollars are now flowing on-chain, leading payment companies and financial institutions are adopting blockchain technology, and entrepreneurs worldwide are developing new financial products. a16z's related work in Washington is far from over, and it will continue to push for clear regulatory rules that both protect consumers and support entrepreneurs' development.

Catcher Predict: "Detroit Tigers vs. Toronto Blue Jays" "Detroit Tigers vs. Toronto Blue Jays" winning rate skyrocketed to 51%

According to Catcher Predict monitoring, in the market prediction event on Polymarket for "Detroit Tigers vs. Toronto Blue Jays," the "Detroit Tigers" option in the sub-market "Detroit Tigers vs. Toronto Blue Jays" has experienced a dramatic fluctuation in winning probability, soaring from 42.5% an hour ago to the current 93.5% (a fluctuation of 51%). Please note the impact of related breaking news.

Catcher Predict: "Athletics vs. Tampa Bay Rays" "O/U 6.5" Win rate plummeted 37%

According to Catcher Predict monitoring, in the market prediction event "Athletics vs. Tampa Bay Rays" on Polymarket, the "Over" option in the sub-market "O/U 6.5" has experienced a dramatic fluctuation in winning probability, plummeting from 49.5% an hour ago to the current 12.5% (a fluctuation of 37%). Please note the impact of related breaking news.

BSC Meme Coins Pull Back, but Fruit Fly-Themed Tokens Surge

Odaily News: According to GMGN data, mainstream Meme coins on BSC have pulled back, but fruit fly-related concept tokens are seeing active speculation. Among them:

Niu Lai's market cap now stands at $118 million, down 3.6% in 24H;

Marscoin's market cap now stands at $87.3 million, down 5.8% in 24H;

4Stock's market cap now stands at $10.1 million, down 37.8% in 24H;

b-money's market cap now stands at $4.1 million, down 33.7% in 24H;

FLOCK's market cap now stands at $4.1 million, down 45.9% in 24H;

Fruit Fly's market cap now stands at $3.4 million, up 828x in 24H.

Earlier news: CZ posted on X that it would be cool if someone could create "immortal fruit flies" on BNB Chain.

Odaily reminds users that Meme coin prices are highly volatile, and investors should participate with caution.

Whale Closes 4-Day BTC and ETH Shorts for $1.2M Profit

Odaily News: According to Onchain Lens monitoring, a Hyperliquid whale closed BTC and ETH short positions held for 4 days two hours ago. The BTC short earned $443,200, and the ETH short earned $752,900, for a total profit of $1.2 million. The whale has realized a cumulative profit of $4.5 million across 39 closed trades, with a win rate of 79.5%.

Clarity Act Fails in US Senate as Jake Chervinsky Says No Bill Is Better Than a Bad Bill

Odaily News: Jake Chervinsky posted on X that the US Senate did not pass the crypto regulatory bill Clarity Act, but its proponents did not compromise on principles during 18 months of research, negotiation, and revisions, insisting that it is better to have no bill than a bad bill. He said that due to political maneuvering in an election year, a good deal was difficult to reach, but the crypto industry can still function without the Clarity Act, and the US SEC and CFTC have the authority and expertise needed to regulate the crypto market. Jake Chervinsky believes that the discussion on crypto regulation has only just begun, and there is still room for future policy prospects.

Jonah Burian: Lessons from the Crypto Cycle Apply to AI Investment

Blockchain Capital investor Jonah Burian stated: Cryptocurrency accelerates market cycles, early companies gain liquidity through tokens, and market behavior is assumed to be public, with lessons applicable to AI investment. Huge results are contagious and trigger FOMO; after Bitcoin became a trillion-dollar asset, Ethereum and Solana proved that more significant outcomes are possible, leading to the rise of alt-L1 trading, with VCs treating new L1s as lottery funding. Similarly, OpenAI and Anthropic are moving towards the trillion-dollar scale, with each new lab being priced as a lottery.L1s were financed at billion-dollar valuations based on white papers and founding teams, while new labs are raising billions based on research papers and teams poached from OpenAI, Anthropic, or Google DeepMind. After hot money floods in, rapid capital speculators always emerge; cryptocurrency has experienced operations like tokens as products, high FDV with low circulation, and a similar dynamic is unfolding in AI, but AI prices are formed in opaque semi-liquid secondary markets, unlike publicly traded cryptocurrencies.The blockchain space has shifted from scarcity to abundance, becoming a commodity, with applications capturing most of the value. In AI, models may become commoditized, with value shifting upstream and downstream, while applications and hardware layers gain profits, and the model layer gets squeezed. During the frenzy phase, financial capital excessively funds infrastructure, and new labs bet that it is only reasonable to assume large-scale R&D returns, with the history of cryptocurrency and alt-L1s warranting skepticism unless AGI arrives.

Ethena completed the SOC 2 Type II audit and received an unqualified opinion

The synthetic dollar agreement Ethena announced that it has completed a SOC 2 Type II audit based on Security Trust Services Criteria, receiving an unqualified opinion from an independent auditor with zero exceptions. SOC 2 is a widely recognized standard for enterprise-level operational security assurance, independently auditing Ethena's actual operations in access control, change management, monitoring, and incident response.Unlike the Type I report, which only examines the design of controls at a specific point in time, Type II assesses whether these controls have been effectively operating over a period. The audit covers the infrastructure and processes supporting its products, complementing the smart contract audits and security reviews covering the Ethena protocol. Ethena stated that it will continue to maintain SOC 2 coverage, with the complete report available to partners under NDA. Ethena joins the list of on-chain enterprises that have completed SOC 2 Type II, including Circle, Chainlink, and Aave.

AI is the main battleground for the competition between China and the United States, and China must first catch up with the United States

According to The Wall Street Journal, China also believes that artificial intelligence could destroy humanity, but the top priority is to catch up with the United States first. Beijing believes that AI is the main battleground in the technological struggle between China and the U.S., and the focus of government agencies and AI research laboratories is currently on catching up.The United States is still worried about the warning that "AI could destroy humanity in a few years." A senior Chinese official stated on Sunday that AI is "the core engine of a new round of technological revolution" and also the main battleground in the struggle between China and the U.S.

Ripple CEO: CLARITY Act Vote Failure Disappointing, SEC and CFTC to Continue Filling Legislative Gap

Odaily News: Ripple CEO Brad Garlinghouse posted on X regarding the CLARITY Act's failure to pass a U.S. Senate procedural vote, saying the outcome was disappointing. The Ripple team and the crypto industry invested significant effort in pushing for the bill's passage, but ultimately fell short.

Garlinghouse said the U.S. crypto industry still has reason to remain optimistic. The SEC and CFTC will continue to develop relevant rules to fill the legislative gap left after the CLARITY Act failed to advance, and Ripple will continue to participate in the rulemaking process. He also said the vote failure will not change Ripple's business momentum, global footprint, or customer demand.

Crypto Liquidations Hit $585 Million in 12 Hours, BTC Accounts for $206 Million

Odaily News: According to CoinGlass data, total liquidations across the network reached $585 million in the past 12 hours, with long positions accounting for $498 million and short positions accounting for $86.4012 million.

In addition, BTC liquidations totaled $206 million and ETH liquidations totaled $202 million, together accounting for approximately 69.7% of total network liquidations over the past 12 hours.