Latest Crypto News | Bitcoin, Ethereum and Altcoin Updates

The Crypto Fear & Greed Index has plunged from 44 to 28, firmly remaining in the “Fear” zone as market sentiment deteriorates. This daily Crypto Fear & Greed Index, which tracks volatility, trading volume, social media mentions, Bitcoin dominance and search trends, reflects growing investor anxiety. Low readings often trigger panic selling, reduced buying pressure and heightened market volatility. However, historical patterns show that extreme fear phases can signal buying opportunities for traders. To navigate current conditions, revisit your investment thesis, employ dollar-cost averaging, diversify your portfolio and maintain strict risk management. Combining the Crypto Fear & Greed Index with technical and fundamental analysis helps traders make more informed decisions and identify potential entry points when sentiment stabilizes.

Bitcoin perpetual futures long/short ratio, a key gauge of market sentiment, has shifted from near-equilibrium to a slight bearish tilt. Initially, BTC perpetual futures longs and shorts were split roughly 49.89% to 50.11% across top exchanges, with Binance and Gate.io showing a mild bullish bias. Over the past 24 hours, the ratio moved to 48.99% longs versus 51.01% shorts. On Binance, longs dropped to 48.03% against 51.97% shorts. Bybit recorded the most pronounced bearish skew at 47.34% longs and 52.66% shorts. Gate.io remains nearly balanced, with 49.84% longs and 50.16% shorts, reflecting diverse user risk appetites. Traders monitor the Bitcoin perpetual futures long/short ratio alongside funding rates, open interest and technical indicators. A heavy short bias can trigger a short squeeze on unexpected price rallies, while an extreme long bias may lead to a long squeeze if prices fall. Integrate sentiment data with solid risk management and chart signals to refine BTC futures trading strategies.

CoinMarketCap’s Altcoin Season Index has surged from 43 to 77 in a month, confirming an altcoin season. Over 75% of the top 100 non-stablecoin tokens have outpaced Bitcoin in the past 90 days. Leading performers include MYX (+17,053.51%), LM (+3,079.20%) and ASTER (+1,268.01%), compared to Bitcoin’s 1.67% gain. This shift indicates capital rotation into altcoins—DeFi, NFT, Layer-1 and gaming tokens—driving higher trading volumes and liquidity on Ethereum, Solana and other networks. Traders should leverage this altcoin season by conducting thorough research, diversifying portfolios and applying disciplined profit and stop-loss strategies to manage volatility and mitigate pump-and-dump risks.

REX-Osprey launched the first U.S.-listed Dogecoin ETF (ticker: DOJE) on September 17. Approved under the 1940 Investment Company Act, the product bypassed lengthy 1933 rule reviews to fast-track crypto ETF listings. The Dogecoin ETF debut sent DOGE up 12% from $0.25 to $0.28 as traders anticipated institutional inflows. Dogecoin, created in 2013 with uncapped supply, now ranks eighth by market cap at $42 billion. SEC Chair Paul Atkins said the new rule change will expand investor choice and innovation. Industry experts view DOJE as the opening act of a broader crypto ETF rally after 2024 spot Bitcoin and Ethereum ETF approvals. REX Financial CEO Greg King highlighted improved liquidity and convenience. Technical analysts point to a bullish megaphone pattern on DOGE with a $1.40 target and more aggressive forecasts up to $5. The U.S. SEC will decide by mid-October on converting Grayscale’s Dogecoin Trust into an ETF, with approval odds at 98%. This development underscores growing institutional adoption and blurs the lines between digital assets and traditional finance, paving the way for future meme coin and wider crypto ETF products.

Gemini IPO: Gemini Space Station Inc. completed a landmark initial public offering, raising $425 million by selling 15.2 million shares at $28 each, above the marketed $24–$26 range. Led by the Winklevoss twins, the exchange trimmed its share count to support premium pricing. The Gemini IPO secures capital for geographic expansion, product innovation, regulatory compliance and security upgrades. Strong demand and pricing highlight growing institutional confidence and mainstream acceptance of regulated crypto exchanges. As a public company, Gemini gains enhanced credibility, liquidity for early investors and elevated brand visibility, while facing stricter oversight and transparency. This success underscores crypto market maturation and may prompt other digital asset firms to go public, reinforcing market stability and long-term growth.

Between September 16 and 24, 2025, Philippine lawmakers filed two key blockchain budget bills—HB 4611 by Rep. Charisse Anne Hernandez and HB 4853 by Rep. Iris Marie Montes—to mandate a National Budget Blockchain System for greater transparency and accountability. These are the fourth and eighth blockchain bills in the 20th Congress. They join related measures: HB 421 on a Strategic Bitcoin Reserve under the BSP; HB 4075 institutionalizing blockchain in government services; HB 4380 establishing a Blockchain Technology Development Council; HB 4489 and SBN 1330 funding a full-cycle budget blockchain system; and HB 4792 creating a National Council on Digital Assets. Both blockchain bills await first reading or committee referral. For crypto traders, this wave of legislation highlights rising support for blockchain infrastructure and clear digital asset policy in the Philippines. The growing budget transparency push and proposed Bitcoin Reserve may boost demand for Bitcoin and other blockchain solutions.

The US Commodity Futures Trading Commission (CFTC) has launched a public consultation on accepting stablecoins as tokenized collateral in regulated derivatives markets. Acting Chair Caroline Pham invites industry feedback until October 20 to shape non-cash margin guidance under its “Crypto Sprint” initiative. The proposal aligns with the SEC’s Project Crypto and recommendations from the President’s Working Group on Digital Assets. Major crypto firms such as Circle, Tether, Ripple, Coinbase, and Crypto.com support the plan, citing lower transaction costs, improved liquidity, and clearer valuation and custody rules for stablecoin collateral. Record inflows have pushed stablecoin market capitalization to $294 billion, led by Tether’s USDT ($173 billion) and Circle’s USDC ($73 billion). Bitcoin (BTC) trades near $112,800, down over 3% in the past week amid broader market swings. The CFTC says that using stablecoins for derivatives margin could modernize margin management and boost capital efficiency. Traders should watch for guidance changes that may streamline market access for licensed issuers and enhance institutional confidence in stablecoin use.

Metaplanet has boosted its Bitcoin holdings to 25,555 BTC after completing a $632 million purchase of 5,419 BTC at an average price of $116,724. This purchase marks the Tokyo-listed crypto treasury firm’s largest single BTC acquisition. Its cumulative Bitcoin investments now total ¥398.21 billion ($2.7 billion) at an average cost of $106,065 per BTC. The firm’s year-to-date Bitcoin yield stands at 395.1%. Metaplanet ranks as the fifth-largest public corporate BTC holder, trailing MicroStrategy, Marathon Digital, 21Shares and Bitcoin Standard Treasury. To fund further acquisitions, Metaplanet raised $837 million through international share offerings and plans to issue 385 million new shares to generate an additional $1.4 billion. Metaplanet has raised its year-end Bitcoin target from 10,000 BTC to 30,000 BTC. It also launched Metaplanet Income Corp., a US subsidiary in Miami with $15 million in initial capital, focusing on bitcoin income generation and derivatives trading. Leadership will be shared by Simon Gerovich, Dylan LeClair and Darren Winia. Despite a Bitcoin price pullback to $112,000 and more than $1 billion in long-position liquidations, Metaplanet’s stock is up nearly 70% year-to-date, buoyed by an FTSE Russell mid-cap upgrade. Active BTC accumulation during price dips underscores growing corporate confidence in Bitcoin as a long-term store of value.

Between September 18 and September 20, Ethereum Spot ETF funds saw strong net inflows. On September 18, spot ETF assets grew by $213 million, led by Fidelity’s FETH fund ($159 million) and Grayscale’s Ethereum Mini Trust ETF ($22.9 million). Total AUM across nine products reached $30.54 billion, about 5.49% of ETH’s market cap, with cumulative inflows hitting $13.87 billion. On September 20, the ecosystem recorded an additional $47.8 million net inflow. ETHA led flows with a $144.3 million inflow, while FETH, ETHW, TETH, ETHV, QETH and ETHE saw outflows of $4.4 million to $53.4 million. Ticker-level data from Farside Investors highlights shifting liquidity allocations and short-term positioning among Ethereum Spot ETF products. These inflows signal robust institutional demand and offer traders actionable insights to fine-tune allocations and anticipate sentiment in the Ethereum Spot ETF market.

Galaxy Digital accelerated its Solana purchases, acquiring 1.2 million SOL ($306 million) in one day and boosting its total to $1.55 billion over five days. The spree highlights institutional demand for Solana as a corporate treasury asset. The tokens were sourced from multiple exchanges and moved to Fireblocks custody. This occurs alongside Galaxy’s partnership with Multicoin Capital and Jump Crypto to launch a crypto treasury management firm. At the same time, Forward Industries raised $1.65 billion and built a $1.58 billion Solana treasury. On-chain data confirms rising institutional demand for Solana. Other public companies have also increased their SOL holdings: DeFi Development Corp added 2 million SOL ($117 million), Upexi Inc holds 2 million SOL ($447 million) and earns $105,000 in daily staking rewards, and BIT Mining acquired 17,221 SOL this week. Solana’s total value locked now exceeds $12 billion, second only to Ethereum. SOL has gained 17.3% over the past week and nearly 30% over the past month, trading around $234.77. For traders, these developments signal growing institutional confidence in Solana and may sustain bullish price momentum as treasury strategies expand.

Pepeto presale has raised over $6.8 million to date, drawing investor interest amid a notable Ethereum (ETH) pullback that saw $1.8 billion in liquidations, including $210 million in ETH, as ETH failed to breach $4,500 resistance and slid below $4,100 with trading volumes up 18%. The Ethereum-based meme coin project offers tiered pricing—currently $0.000000155 per token—with staged price increases and staking rewards of over 225% APY to incentivize long-term holding. Pepeto presale participants benefit from a zero-fee demo exchange featuring cross-chain tools and a meme coin launchpad, underpinned by audited smart contracts from SolidProof and Coinsult. The fully doxxed team’s transparent roadmap includes NFT functions and upcoming listings on centralized and decentralized Tier 1 exchanges, poised to enhance liquidity and trading volume. For crypto traders, the Pepeto presale underscores strong demand for utility-focused meme coins on EVM-compatible networks and offers a bullish signal in volatile markets.

On September 17, the SEC approved generic listing standards for commodity trusts, allowing exchanges to list products backed by existing futures or derivatives. The change removes separate S-1 and 19b-4 filings. This streamlined process accelerates spot crypto ETF approvals. Analysts at Bloomberg predict 22 assets with Coinbase futures—including BTC, XRP, SOL and XLM—could quickly convert to spot crypto ETFs. Industry leaders like Federico Brokate and Greg Benhaim say the SEC listing standards boost listing predictability. Commissioner Caroline Crenshaw warns that faster approvals may sidestep investor-protection reviews. Core disclosure and diligence requirements under the ’33 and ’40 Acts remain intact. Traders should review ETF prospectuses, surveillance arrangements and liquidity metrics before trading coin-based spot crypto ETFs. Overall, the updated SEC listing standards mark a structural shift toward broader spot crypto ETF access but underscore the need for robust market surveillance and risk assessment.

Canadian firm SOL Strategies will list its common shares on the Nasdaq Global Select Market under the ticker STKE on September 9. The move transitions trading from the OTCQB and complements its Toronto Stock Exchange “HODL” listing. CEO Leah Wald says the Nasdaq listing will enhance liquidity and attract institutional capital to fund validator operations and ecosystem investments on Solana. In April, SOL Strategies raised $500 million via convertible bonds to acquire SOL tokens. Following the announcement, its HODL shares jumped nearly 20%. Meanwhile, Solana governance approved the Alpenglow upgrade to cut transaction finality to Web2 speeds. Additionally, Fonte Capital’s SETF, the first spot SOL ETF with staking yield, launched on Kazakhstan’s Astana International Exchange under BitGo custody.

The WLFI token, part of the Trump family’s World Liberty Financial project, officially launched on September 1 on major exchanges including Binance, OKX and Bybit. It saw $1B in trading volume in the first hour and briefly valued the family’s holdings at over $6B. However, blockchain data shows an insider dumping of 698M WLFI tokens—bought at $0.015–$0.05—on launch day. This 20× sell-off drove the token price down from highs of $0.46 to around $0.23 within hours. Prices fluctuated between $0.24 and $0.30 as retail buyers absorbed the sell pressure. World Liberty Financial, formed in Delaware, controls 60% of WLFI revenue through Trump-linked entities. The project also includes the TRUMP memecoin, Melania’s MEME token, Trump NFT cards and the USD1 stablecoin (now at a $2.7B market cap). Lawmakers and regulators have flagged conflicts of interest and governance risks tied to the token launch. Traders should monitor WLFI token volatility, insider sell caps and broader Trump crypto developments for market impact.

21Shares has filed an S-1 registration with the U.S. SEC to launch a spot SEI ETF, with Coinbase Custody Trust Company as custodian. The SEI ETF will passively track the CF SEI-Dollar Reference Rate, aggregating prices across multiple venues while excluding leverage and derivatives. It offers cash or in-kind SEI subscriptions and redemptions via Authorized Participants, and staking or liquid staking options remain under legal, tax, and regulatory review. The fund is seeded with initial capital and will list under a ticker post-approval, remaining open for up to three years. On the filing day, SEI token rose over 4% to $0.30, and on-chain data shows a TVL of $682 million. Approval could lower barriers for institutional capital, boosting liquidity and long-term access to the SEI network.

Coinglass data shows crypto futures liquidations jumped to $849 million over the past 24 hours, driven by $714 million in short position liquidations and $135 million in longs. Bitcoin saw $212 million in forced closures and Ethereum $278 million. The surge in crypto futures liquidations, dominated by short squeezes, reflects a sudden price rebound that squeezed bearish traders and could fuel further upward momentum. Traders should monitor funding rates and open interest for signs of sustained volatility and market shifts.

Layer Brett has quickly risen as the top meme coin among new crypto investors, with recent polls showing 85% favorability over Dogecoin. Built on Ethereum’s Layer 2 network, Layer Brett enables near-instant transactions and fees as low as $0.0001. Its presale has raised over $3.7 million at $0.0058 per token. The token’s no-KYC model and community-driven campaigns support staking rewards of up to 691% APY. In contrast, Dogecoin trades near $0.21–$0.26 and lags in structured incentives. Dogecoin’s pending ETF filings, including a key approval date on September 18, 2025 for Rex Shares and Osprey, have yet to reinvigorate its price. Analysts note that traders are shifting toward utility-driven meme coins and Ethereum Layer 2 solutions. This trend suggests a bullish outlook for Layer Brett and similar presale tokens in the evolving meme coin market.

London Stock Exchange Group (LSEG) and Microsoft have launched Digital Markets Infrastructure (DMI), the first blockchain private funds platform by a major exchange. Built on Microsoft Azure, DMI covers the full fund lifecycle, from issuance and tokenization to distribution, settlement and post-trade servicing, ensuring interoperability between distributed ledger technology (DLT) and traditional financial systems. The launch marks the completion of the first live transaction: a primary fundraise for MCM Fund 1. MembersCap acted as general partner and FCA-regulated exchange Archax served as nominee. EJF Capital has joined as an early adopter. This tokenized private fund transaction demonstrates how DMI can streamline manual processes, accelerate settlement and improve auditability of fund records. LSEG plans to expand Digital Markets Infrastructure beyond private funds into other asset classes. Private funds on DMI are discoverable via LSEG’s Workspace database. As the platform scales, success will depend on custody solutions, trading rules and regulatory clarity. The launch of DMI represents a significant step in modernizing private fund infrastructure and highlights growing adoption of tokenization in traditional finance.

Security firm Mosyle has uncovered ModStealer malware, a cross-platform threat targeting browser-based crypto wallets on Windows, macOS and Linux. Delivered via fake recruiter ads implemented as rogue Node.js scripts, ModStealer malware uses obfuscated JavaScript to evade signature-based antivirus detection. Once installed, it harvests private keys, credentials and configuration files from 56 crypto wallet extensions, including Safari, captures clipboard data, takes screenshots and even enables remote code execution. On macOS, it hides as a background process via launchctl. Offered as Malware-as-a-Service (MaaS), ModStealer lowers the barrier for attackers to deploy powerful infostealers. To secure crypto assets, traders should store funds in cold wallets, enable two-factor authentication, remain vigilant against phishing, keep software updated, use strong passwords with a manager and employ VPNs on public networks. Proactive behavior monitoring and advanced threat detection are essential as threats evolve.

Cloudflare has launched Net Dollar, a USD-pegged stablecoin designed for AI agents and machine-to-machine payments. Backed 1:1 by U.S. dollar reserves in regulated accounts, Net Dollar goes live on Ethereum via Chainlink oracles and integrates with smart-contract platforms. Developers can embed real-time microtransactions for AI services, data feeds and dApps using Cloudflare Workers. The stablecoin supports seamless on-chain swaps with USDC and USDT and plans multi-chain expansion to Arbitrum and Optimism by Q4. Monthly reserve audits, low-latency transfers and programmable payments aim to bridge traditional finance and DeFi. Traders should watch Net Dollar adoption, liquidity pool growth and its competition with leading stablecoins for potential arbitrage and volume opportunities.

Crypto traders should note Husky Inu (HINU) has advanced its pre-launch dynamic pricing strategy, raising the token price from $0.00015 at launch on April 1 to $0.00020991 through regular two-day increments. The next price increase is due in under ten hours. HINU has raised $897,612 toward its $900,000 target, hitting $750,000 by May 16, $800,000 by June 15 and $850,000 by July 25. Proceeds will fund platform upgrades, marketing and ecosystem growth. Meanwhile, a broader crypto market correction—Bitcoin dipping below $112,000, Ethereum under $4,000, and marginal declines in XRP and SOL—has weighed on investor momentum. Despite bearish sentiment, HINU’s dynamic pricing continues to incentivize early adopters. Traders should monitor funding milestones, the launch roadmap and ongoing market volatility for potential price catalysts.

PayPal has expanded its dollar-pegged stablecoin PYUSD by launching PYUSD0 on nine new blockchains via LayerZero’s permissionless Stargate Hydra protocol. The upgrade ensures PYUSD0 remains fully interchangeable with the original token, enabling seamless cross-chain transfers on Abstract, Aptos (APT), Avalanche (AVAX), Ink, Sei (SEI), Stable, and Tron (TRX). Existing bridges on Berachain (BYUSD) and Flow (USDF) have also been upgraded. Under LayerZero’s infrastructure, developers can integrate PYUSD0 quickly into DeFi applications, while users gain access to liquidity across 140+ chains. This interoperability move aims to boost stablecoin liquidity, broaden market reach, and enhance DeFi adoption.

CME Group will launch Solana (SOL) and XRP futures options on October 13, 2025, pending regulatory approval. The range includes standard and Micro SOL and Micro XRP contracts, with daily, monthly and quarterly expiries. This expansion reflects growing institutional demand and deepens liquidity in the crypto derivatives market. Since launch, SOL futures have traded $22.3 billion in notional across 540 000 contracts, averaging 9 000 monthly trades and 12 500 open interest daily. XRP futures totalled $16 billion across 370 000 contracts, with record 9 300 in open interest and 6 600 daily trades. Partnering with FalconX, CME Group aims to boost market efficiency, risk management and hedging flexibility. The new futures options will offer traders enhanced tools to capture opportunities and manage exposure in the altcoin derivatives market.

BlackRock is moving forward with tokenized ETFs after its Ethereum-based USD Institutional Digital Liquidity (BUIDL) fund went live. The BUIDL fund, backed by cash, US Treasury bills and repurchase agreements, issues daily yields on-chain and uses infrastructure from Fireblocks, BitGo, Coinbase and Anchorage, with Securitize as transfer agent and BNY Mellon as custodian. The asset manager is in talks to issue traditional ETF shares as blockchain tokens to enable 24/7 trading, global access and on-chain collateral. Executives see the tokenized ETFs market scaling to $10 trillion as real-world asset tokenization surpasses $10 billion in total value locked. Tokenized ETFs offer fractional ownership, faster settlement and transparency. However, integration with existing market structures, US securities regulations and cross-border legal frameworks still needs regulatory greenlights. Industry momentum builds: Galaxy Digital tokenized a Nasdaq stock, and Nasdaq seeks SEC approval for tokenized equities. SEC’s “Project Crypto” and CFTC collaboration point to regulatory openness. CEO Larry Fink argues that tokenized ETFs will cut costs and simplify investing, bridging traditional finance and digital markets.

Binance and Franklin Templeton have formed a strategic partnership to launch tokenized securities by digitizing traditional stocks and bonds on blockchain. Franklin Templeton will use its compliant Benji platform to ensure regulatory compliance and product fidelity, while Binance provides global trading infrastructure, market access and liquidity. The collaboration aims to integrate tokenized securities into mainstream portfolios, offering improved efficiency, transparency, faster settlement and competitive yields. Executives Sandy Kaul and Roger Bayston highlight that blockchain tokenization optimizes market processes without replacing legacy systems, and Binance’s Catherine Chen underlines the goal of bridging crypto assets with conventional markets. Announced amid growing calls for clear tokenized securities regulations, the project may accelerate institutional adoption, with further product details expected later this year.

American Bitcoin Corporation (ABTC) completed its Nasdaq debut after merging with Gryphon Digital Mining, opening under ticker ABTC. The listing revealed a 2,443 BTC treasury (approximately $273 million), up from 152 BTC previously disclosed, and drove a 72% surge in share price on day one. The company’s SEC filing outlines a $2.1 billion Class A stock offering to fund further Bitcoin acquisitions, next-generation ASIC mining hardware, and corporate expansion. American Bitcoin employs a dual strategy combining self-mining via Hut 8’s cutting-edge ASICs and opportunistic market purchases to build a core BTC reserve. Executive Chairman Asher Genoot highlights the debut as positioning ABTC as a leading public vehicle for institutional and retail Bitcoin exposure. Crypto traders should watch for stock offering updates and mining expansion milestones impacting BTC market liquidity and mining capacity.

Kraken has closed a $500 million funding round at a $15 billion valuation, marking a strategic shift under co-CEO Arjun Sethi’s leadership as the cryptocurrency exchange positions itself for a potential IPO in 2026. The Series round—led by investment managers, venture capital firms and Tribe Capital—follows smaller past raises and coincides with enhanced financial disclosures, though Kraken has yet to file an SEC S-1. In Q2, Kraken reported $411 million in revenue and $80 million in post-EBITDA earnings. The platform processed around $1.9 billion in trading volume over 24 hours, ranking it among the top 15 global exchanges. Leadership changes have included the departure of the CTO and COO, while acquisitions such as the $1.5 billion NinjaTrader deal aim to broaden services. Amid rising IPO speculation—first reported by Fortune and later confirmed by insiders—the funding underscores Kraken’s push to join peers like Gemini and Circle, both of which went public in 2023. Supportive regulatory moves, including the GENIUS stablecoin bill and market-structure reforms, add to favourable conditions. Traders will watch if Kraken’s new capital sparks more crypto IPO filings and enhances market liquidity.

US spot Bitcoin ETFs suffered a $253.4 million net outflow on Thursday, pushing weekly redemptions to $480 million as Bitcoin (BTC) slid below $109,000, a four-week low. Major funds including Fidelity’s FBTC, Bitwise’s BITB, ARK 21Shares ARKB, Franklin, VanEck and Grayscale’s GBTC saw significant withdrawals. In contrast, BlackRock’s IBIT attracted $78 million, marking its third consecutive week of inflows. Parallel to this trend, spot Ethereum ETFs recorded $251 million in outflows Thursday, taking weekly losses to $547 million amid a double-digit ETH price correction. The US Securities and Exchange Commission (SEC) met with VanEck to discuss ETF tokenization and issuer roles, a step that could benefit Ethereum-based products. This week also saw the launch of REX-Osprey’s Ether Staking ETF, Bitwise’s filing for a Hyperliquid (HYPE) ETF, approval of Hashdex’s Nasdaq Crypto Index US ETF and BlackRock’s registration of the iShares Bitcoin Premium ETF, a covered-call strategy designed to generate yield on BTC. Traders should monitor weekly ETF flow trends, macroeconomic indicators and individual fund dynamics for market sentiment clues. Large daily outflows may signal near-term selling pressure, but sustained demand for products like IBIT suggests continued institutional appetite for regulated Bitcoin exposure.

Crypto wealth has surged 45% year-on-year to $3.3 trillion, driven by a 40% rise in millionaires (241,700) and a 29% increase in digital asset billionaires (36). Bitcoin’s market dominance is clear: $2.1 trillion of total crypto wealth is in BTC, Bitcoin millionaires jumped 70% to 145,100, and Bitcoin billionaires rose 55% to 17. Global digital asset users grew 5% to 590 million, while Bitcoin holders climbed 7% to 295 million. The report highlights unprecedented institutional adoption and notes that crypto wealth and gold remain top alternative assets for high-net-worth investors. Experts warn that cryptocurrency’s borderless nature challenges traditional financial and tax systems.