{"id":11324,"date":"2025-09-21T13:41:07","date_gmt":"2025-09-21T13:41:07","guid":{"rendered":"https:\/\/bitunikey.com\/news\/bitgo-ipo-dogecoin-etf-debut-ftx-distributes-1-6b-to-creditors-weekly-recap\/"},"modified":"2025-09-21T13:41:11","modified_gmt":"2025-09-21T13:41:11","slug":"bitgo-ipo-dogecoin-etf-debut-ftx-distributes-1-6b-to-creditors-weekly-recap","status":"publish","type":"post","link":"https:\/\/bitunikey.com\/news\/bitgo-ipo-dogecoin-etf-debut-ftx-distributes-1-6b-to-creditors-weekly-recap\/","title":{"rendered":"BitGo IPO, Dogecoin ETF debut, FTX distributes $1.6b to creditors | Weekly Recap"},"content":{"rendered":"<p><\/p>\n<div class=\"post-detail__content blocks\">\n<p class=\"is-style-lead\">Bankruptcy recovery efforts accelerated as FTX announced its third creditor distribution totaling $1.6 billion. Meanwhile, institutional cryptocurrency infrastructure expanded through BitGo\u2019s public offering filing.<\/p>\n<div id=\"cn-block-summary-block_78ad957d02a9ddf09abe25cddfa0d52a\" class=\"cn-block-summary\">\n<div class=\"cn-block-summary__nav tabs\">\n        <span class=\"tabs__item is-selected\">Summary<\/span>\n    <\/div>\n<div class=\"cn-block-summary__content\">\n<ul class=\"wp-block-list\">\n<li>FTX to pay $1.6b in third creditor distribution, exceeding initial recovery expectations.<\/li>\n<li>BitGo files IPO after $4.19b revenue, joining crypto firms entering public markets.<\/li>\n<li>First U.S. spot Dogecoin ETF launches, expanding regulated meme coin investment access.<\/li>\n<\/ul><\/div>\n<\/div>\n<p><!-- .cn-block-summary --><\/p>\n<h3 class=\"wp-block-heading\">FTX prepares third creditor payment installment<\/h3>\n<ul class=\"wp-block-list\">\n<li>The collapsed exchange\u2019s recovery trust <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/www.prnewswire.com\/news-releases\/ftx-recovery-trust-to-distribute-approximately-1-6-billion-to-creditors-in-third-distribution-on-september-30--2025--302561856.html\" target=\"_blank\" rel=\"nofollow\">announced<\/a> that four creditor groups will receive $1.6 billion on September 30.<\/li>\n<li>Payment percentages range from 78% to 120% of the original holdings value when the exchange ceased operations.<\/li>\n<\/ul>\n<h3 class=\"wp-block-heading\">BitGo advances toward public market debut<\/h3>\n<ul class=\"wp-block-list\">\n<li>The cryptocurrency custodian filed its inaugural S-1 registration statement with the SEC.<\/li>\n<li>The firm plans to list Class A common stock on the New York Stock Exchange under ticker BTGO.<\/li>\n<li>Financial disclosures revealed the company generated $4.19 billion in revenue during the first half of 2025.<\/li>\n<\/ul>\n<p>    <!-- .cn-block-related-link --><\/p>\n<h3 class=\"wp-block-heading\">X pursues legal action against bribery network<\/h3>\n<ul class=\"wp-block-list\">\n<li>The Elon Musk-owned social media platform is taking legal action against banned users, including cryptocurrency scammers, who attempted to bribe employees for account restoration.<\/li>\n<li>Platform officials connected the bribery activities to broader criminal organizations.<\/li>\n<\/ul>\n<h3 class=\"wp-block-heading\">YZi Labs expands Ethena investment position<\/h3>\n<ul class=\"wp-block-list\">\n<li>Former Binance CEO Changpeng Zhao\u2019s family office increased its stake in Ethena (ENA) Labs, creator of the USDe synthetic dollar stablecoin.<\/li>\n<li>The investment aligns with Ethena\u2019s plans to expand operations on BNB Chain.<\/li>\n<\/ul>\n<h3 class=\"wp-block-heading\">Ethereum developers schedule Fusaka upgrade<\/h3>\n<ul class=\"wp-block-list\">\n<li>Ethereum (ETH) Core development teams confirmed a tentative December timeline for the network\u2019s next major upgrade during Thursday\u2019s All Core Developers Consensus call.<\/li>\n<li>The Fusaka upgrade targets blockchain scaling improvements, with subsequent changes planned to more than double blob capacity in following weeks.<\/li>\n<\/ul>\n<p>    <!-- .cn-block-related-link --><\/p>\n<h3 class=\"wp-block-heading\">America\u2019s first spot Dogecoin ETF begins trading<\/h3>\n<ul class=\"wp-block-list\">\n<li>The Rex Financial and Osprey Funds jointly managed product went live on Thursday morning on the Cboe BZX exchange under the ticker DOJE.<\/li>\n<li>This spot fund provides direct exposure to current Dogecoin (DOGE) prices rather than futures or derivative instruments.<\/li>\n<\/ul>\n<h3 class=\"wp-block-heading\">Australia approves stablecoin distribution exemption<\/h3>\n<ul class=\"wp-block-list\">\n<li>The Securities and Investment Commission granted a class exemption allowing licensed intermediaries to distribute stablecoins without individual regulatory approvals.<\/li>\n<li>This policy addresses exchanges, brokers, and platforms that carry out stablecoin trading without creating the tokens themselves.<\/li>\n<\/ul>\n<h3 class=\"wp-block-heading\">SEC streamlines cryptocurrency ETF approval process<\/h3>\n<ul class=\"wp-block-list\">\n<li>The commission approved new rules Wednesday enabling exchanges to list spot commodity ETPs, including cryptocurrencies, without individual agency review for each product.<\/li>\n<li>This procedural change removes the lengthy 19(b) rule filing process that previously required up to 240 days and active SEC approval or disapproval.<\/li>\n<\/ul>\n<h3 class=\"wp-block-heading\">Circle integrates with Hyperliquid platform<\/h3>\n<ul class=\"wp-block-list\">\n<li>The stablecoin issuer introduced native USDC support to the largest decentralized derivatives trading platform while making its first HYPE (HYPE) token investment.<\/li>\n<li>This integration establishes Circle as a \u201cdirect stakeholder\u201d in the platform through token ownership.<\/li>\n<\/ul>\n<h3 class=\"wp-block-heading\">Google launches AI payment protocol<\/h3>\n<ul class=\"wp-block-list\">\n<li>The technology giant released an open-source protocol enabling artificial intelligence applications to send and receive payments, including stablecoin support.<\/li>\n<li>The system accommodates digital tokens pegged to fiat currencies such as the US dollar.<\/li>\n<\/ul>\n<h3 class=\"wp-block-heading\">Strategy records minimal Bitcoin acquisition<\/h3>\n<ul class=\"wp-block-list\">\n<li>The treasury company purchased 525 Bitcoin (BTC) worth $60 million in its smallest monthly acquisition.<\/li>\n<li>This brings Strategy\u2019s total holdings to approximately 639,000 Bitcoin.<\/li>\n<\/ul>\n<h3 class=\"wp-block-heading\">Bitcoin Bottom Day<\/h3>\n<ul class=\"wp-block-list\">\n<li>Sunday, Sept. 21, is being hyped as a key date for the crypto\u2019s trajectory. Economist Timothy Peterson <a rel=\"nofollow\" target=\"_blank\" rel=\"nofollow\" href=\"https:\/\/x.com\/nsquaredvalue\/status\/1969062872526295527\">dubbed<\/a> it \u201cBitcoin Bottom Day,\u201d noting the coin typically ends the year higher about 70% of the time after this date, with a median gain of 50%. <\/li>\n<li>He now sees a 90% chance of upside and almost certainty of higher prices six months out, calling $100,000 a likely permanent floor.<\/li>\n<li>If Peterson\u2019s thesis holds, Sept. 21 could mark a defining inflection point, setting the stage for Bitcoin\u2019s next major rally.<\/li>\n<\/ul>\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\">\n<div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">September 21st is an important day for Bitcoin Performance.  It falls on a Sunday this year so I am posting this today.<\/p>\n<p>September 21 marks the date \u2013 after which \u2013 Bitcoin finishes the year higher 70% of the time.  The median gain is over 50%!  Call this &#8220;Bitcoin Bottom Day.&#8221;\u2026 <a rel=\"nofollow\" target=\"_blank\" rel=\"nofollow\" href=\"https:\/\/t.co\/IRo0xProvH\">pic.twitter.com\/IRo0xProvH<\/a><\/p>\n<p>\u2014 Timothy Peterson (@nsquaredvalue) <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/twitter.com\/nsquaredvalue\/status\/1969062872526295527?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow\">September 19, 2025<\/a><\/p><\/blockquote>\n<\/div>\n<\/figure>\n<p>    <!-- .cn-block-related-link --><\/p><\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bankruptcy recovery efforts accelerated as FTX announced its third creditor distribution totaling $1.6 billion. Meanwhile, institutional cryptocurrency infrastructure expanded through BitGo\u2019s public offering filing. Summary FTX to pay $1.6b in&hellip;<\/p>\n","protected":false},"author":1,"featured_media":1657,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-11324","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/11324","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/comments?post=11324"}],"version-history":[{"count":1,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/11324\/revisions"}],"predecessor-version":[{"id":11325,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/11324\/revisions\/11325"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media\/1657"}],"wp:attachment":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media?parent=11324"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/categories?post=11324"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/tags?post=11324"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}