Crypto week ahead: U.S. payrolls, Revolut’s USDT delisting, and multiple service shutdowns

Crypto week ahead: U.S. payrolls, Revolut’s USDT delisting, and multiple service shutdowns

N
News Editor
2026-08-30 10:55:00
The coming week brings a dense slate of macro, regulatory, and project-specific events for the crypto market. The U.S. will release August unemployment and nonfarm payrolls data on Sept. 4, the last payrolls report before the Sept. 15-16 Federal Open Market Committee meeting. Revolut has confirmed that it will delist USDT on Aug. 31, citing regulatory and risk-compliance considerations, after already stopping purchases and suspending deposits earlier in the process. A wave of project shutdowns and service closures is also scheduled, including HyENA, Printr, Vision, Summer.fi, NFTfi, TON bridge-v3, Cosmostation Wallet, and Cypher. Several token unlocks are on the calendar as well, including SUI, EIGEN, ENA, OPN, and HYPE. Other items to watch include the G20 technology ministers’ meeting in North Carolina, Vietnam’s new crypto penalty rules taking effect, the launch of Russia’s digital ruble, a proposed Secret Network migration to Arbitrum, Binance’s planned delisting of ICX, SCRT, and STORJ, and Pakistan’s deadline for virtual asset service providers to file licensing applications.

The next seven days bring a packed schedule for crypto, spanning regulation, macro data, exchange actions, service shutdowns, and token unlocks.

Among the headline items, Revolut will delist USDT on Aug. 31, citing regulatory and risk-compliance considerations. In the U.S., August nonfarm payrolls and unemployment data are due at 20:30 Beijing time on Sept. 4, the final payrolls release before the Sept. 15-16 Federal Open Market Committee meeting. On the token side, Hyperliquid’s HYPE is set to unlock about 433,000 tokens at 08:00 Beijing time on Sept. 6, equal to roughly 0.1% of circulating supply and valued at about $36.1 million, while Sui’s SUI will unlock about 13.53 million tokens at 08:00 Beijing time on Sept. 1, equal to about 0.33% of circulating supply and worth about $10 million.

Aug. 31

South Africa opens feedback period on draft crypto asset tax guide

The South African Revenue Service, or SARS, recently released a draft guide on crypto asset taxation, with public comments due by Aug. 31, 2026. The document covers the legal and tax nature of crypto assets, their different uses, and related income tax consequences, including donations. It also provides guidance on compliance, record-keeping, provisional tax, income tax returns, and disclosure obligations.

SARS has set up a dedicated crypto revenue augmentation unit. The tax authority has also created other units in recent years to help track and audit specific markets, with digital asset transactions now an area of focus.

Revolut to delist USDT on Aug. 31

Digital banking and fintech platform Revolut has told users it will formally delist the stablecoin USDT on Aug. 31, 2026. The company had already stopped USDT purchases from July 6 and suspended USDT deposits after July 30, with any incoming transfers rejected.

If users do not sell or withdraw their USDT holdings before the end of August, the balances will be automatically converted into the account’s base currency. Revolut said the move reflects combined regulatory and risk-compliance considerations, though it did not identify the specific regulatory framework behind the decision.

HyENA to shut down and unwind markets from Aug. 31 to Sept. 2

HyENA, a perpetual futures DEX built on Hyperliquid’s HIP-3 standard and using Ethena’s USDe as margin, said it will fully wind down and settle all markets. The team said Hyperliquid’s deeper alignment with USDC means the USDe-margin model no longer makes sense for the product.

From Aug. 31 to Sept. 2, markets will be delisted one by one on an hourly schedule, and positions will be settled automatically using a one-hour oracle TWAP. HyENA said it had processed more than $4 billion in trading volume and distributed roughly 2.5 million USDe in margin yield to more than 12,000 traders. HLPe deposits can be redeemed 1:1 with yield and no fee. The team also said Ethena Exchange Rewards ended in June 2026, HyENA Points carry no token or monetary value, and there are no plans to issue a token.

Printr to cease operations on Aug. 31

Token deployment platform Printr said it has begun its shutdown process and will stop all operations on Aug. 31, 2026. The team said it had explored every workable option over the past three months but could not continue in the current market without funding and distribution support.

Starting Aug. 18, all on-chain staking positions and staking rewards will be automatically unstaked and returned to the original deposit addresses, after which staking will be disabled. The planned token generation event and airdrop have been canceled. After Aug. 31, the Printr application interface will go offline, though tokens launched through the platform will continue to exist as independent on-chain assets.

Vision to suspend operations on Aug. 31

Furyan.eth, co-founder of the community-driven ENS platform Vision, said on X that Vision will suspend operations on Aug. 31. The platform’s assets will later be sold or moved into a CTO process.

Summer.fi to keep front end available through Aug. 31

Summer.fi said it will shut down both the protocol-facing business and the Labs company behind it after Lazy Summer Protocol was attacked on July 6. According to the team, the attacker manipulated the share price of two USDC vaults on Ethereum mainnet and stole about $6.04 million in deposits in a single transaction, badly damaging both protocol funds and the team’s treasury.

The team said no viable restructuring path remains. It added that the broader DeFi sector has been under pressure since the Stream Finance incident in October 2025. Summer.fi’s front end will remain available until Aug. 31. The future of Lazy Summer Protocol will be decided by Lazy Summer DAO, which is working to restore withdrawals and redemptions across all vaults. Official email support and Discord will stay open through the end of August.

NFTfi to close its front-end website on Aug. 31

NFT-backed lending platform NFTfi said it will wind down its business over the coming months and plans to shut its front-end website, app.nftfi.com, on Aug. 31, 2026. The platform has stopped originating new loans. Existing loans can be refinanced through July 31 for periods of up to 30 days per cycle, and borrowers can repay at any time until Aug. 31, 2026.

The company said the contraction in the NFT market left potential revenue below operating costs. The deployed smart contracts will continue to run independently on-chain, and users will still be able to repay loans and withdraw collateralized NFTs through the contracts. Guidance for those actions will be published before the shutdown.

Sept. 1

G20 technology ministers’ meeting scheduled for Sept. 1-2

The G20 technology ministers’ meeting will take place in North Carolina on Sept. 1 and 2. Elon Musk, Jensen Huang, and Sam Altman are expected to attend. The Trump administration is pushing participants to accept the “Carolina Principles,” which call for a light-touch approach to AI regulation and no new regulatory agency.

Vietnam’s new crypto penalty rules take effect on Sept. 1

Vietnam has issued Decree No. 284/2026/NĐ-CP, setting out administrative violations, fine levels, and enforcement authority for crypto assets and related markets. The decree covers token issuance, trading venue operations, obligations for service providers, investor trading behavior, cross-border fund transfers, data abuse, and anti-money laundering and counter-terrorism financing violations.

Under the rules, institutions can face fines of up to 200 million Vietnamese dong and individuals up to 100 million Vietnamese dong. Authorities may also impose business suspensions, license revocations, and confiscation of illegal gains. The decree takes effect on Sept. 1, 2026 under the framework for a pilot crypto asset market, alongside related AML and digital industry laws.

Russia says digital ruble will launch on Sept. 1

Bank of Russia Governor Elvira Nabiullina said the digital ruble will launch as planned on Sept. 1 and that “everything is ready.” The CBDC will complement the Russian ruble and will initially be accepted by financial and credit institutions.

First Deputy Governor Vladimir Chistyukhin said the legal framework for the digital ruble will also take effect on Sept. 1, with a transition period running through July 2027. The project began in 2021. The source material also states that the European Union imposed preemptive sanctions on the digital ruble in April 2025 in response to Russia’s war in Ukraine. In contrast, a U.S. housing bill containing a CBDC ban has been sent to Trump and would take effect automatically within 10 days if not signed, with the ban lasting until 2030.

Secret Network proposes migration to Arbitrum ecosystem

Secret Network said it plans to migrate into the Arbitrum ecosystem, with SCRT becoming an ERC-20 token on Arbitrum. A snapshot is scheduled for Sept. 1, 2026. Native SCRT and staked SCRT will migrate automatically.

sSCRT, SCRT held in contracts or liquidity pools, SCRT bridged to other chains, and IBC-bridged tokens are not included and must be converted into native or staked form before Sept. 1. After the move, SCRT would remain the governance token, and the team has proposed cutting inflation from 9% to 5%. If completed, SCRT Labs will stop maintaining Secret Network and open-source all code. The proposal still requires a community governance vote.

TON bridge-v3 set for permanent closure on Sept. 1

Toncoin said its bridge-v3 cross-chain bridge is set to close permanently on Sept. 1, 2026. During the transition period, all proportional bridge fees have been removed. Users who previously used the bridge are being told to check their wallets and recover any pending or unclaimed assets before the deadline.

Holders of Wrapped TON on Ethereum or BNB Smart Chain should bridge back to the TON network before the cutoff. Holders of jUSDT, jUSDC, jDAI, jWBTC, and similar assets should bridge back to Ethereum. After Sept. 1, the bridge will stop all transfer functions.

Deribit to remove public proof-of-reserves page on Sept. 1

Deribit will take down its public proof-of-reserves page on Sept. 1. The system had allowed users to check whether their balances were included in a snapshot and compare aggregated liabilities with public wallet holdings.

The change follows Deribit’s integration with Coinbase. Around 90% of client assets are now under Coinbase custody. Deribit said its current proof-of-reserves system uses a privacy-preserving binary Merkle tree and daily asset snapshots, but the public page did not cover all assets in custody.

Linera LNRA community round pre-registration ends Sept. 1

Layer 1 blockchain protocol Linera has opened pre-registration for the community round of its LNRA token sale. Pre-registration runs through Sept. 1, with the commitment period set for Sept. 1 to Sept. 8. Purchases will be made through Echo’s Sonar system using USDC on Base at a fixed price.

Linera will disclose pricing and sale size on Aug. 28. It also outlined LNRA tokenomics: 60% of supply for community reserves, 10% for the foundation, 11.3% for investors, 13.7% for early contributors, and 5% for community sale. Investor and early contributor allocations together account for 25% of supply and will unlock in stages over three years after distribution.

GnosisDAO approves $15 million grant for Gnosis Ltd

Gnosis said proposal GIP-154 has passed. Starting Sept. 1, GnosisDAO will provide Gnosis Ltd with $15 million in stablecoin funding over 12 months, disbursed quarterly, to support work on the Ethereum Economic Zone, Gnosis Chain, and Gnosis Pay.

The proposal also includes a $2 million working capital loan for Gnosis Pay, which must be repaid to the DAO.

Ethos to launch WHUF token auction on Sept. 1

On-chain reputation project Ethos Network said it will hold a WHUF token auction on Sept. 1. The auction covers 20% of total supply, with a starting FDV of $1 million, a cap of $99 million, and an 85% price guarantee. Contributor XP and referred users will receive extra rewards, and registration is already open.

Its white paper says the team and early backers hold 40% while the community holds 60%. Within the community allocation, 20% goes to token sales, 2% to the XP Bonus Pool, 5% to ecosystem development, 10% to the foundation treasury, 5% to bug bounties, and 18% to contributor rewards. Early backer tokens are locked for 24 months with a six-month cliff, and team tokens are locked for four years with a one-year cliff. Ethos said it chose not to reserve any airdrop allocation because direct airdrops could lead recipients to sell immediately and create concentrated sell pressure. Instead, it adopted an XP-weighted reward model tied to participation in the token sale.

Cosmostation Wallet to end wallet services

Cosmostation Wallet said it will stop wallet services across iOS, Android, and its Chrome extension. Starting Sept. 1, 2026, only two functions will remain: “Export Mnemonic” and “Export Private Key.” Other functions will be phased out and eventually become inaccessible.

The team said Cosmostation Wallet is non-custodial, so user assets remain on their respective blockchains and are not directly affected by the service shutdown. Users still need to back up their mnemonic phrase or private key before the deadline and move to another compatible wallet to keep managing their assets.

Baidu to switch to dual primary listing in Hong Kong and on Nasdaq

Baidu said in a Hong Kong exchange filing dated Aug. 27 that it will voluntarily convert its secondary listing in Hong Kong into a primary listing effective Sept. 1, 2026. From that date, the company will hold dual primary listings on the Hong Kong Stock Exchange and Nasdaq.

The stock marker “S” will be removed from its Hong Kong dollar and renminbi counters in Hong Kong from Sept. 1 after the conversion takes effect. The source material says Baidu’s previous secondary listing status in Hong Kong meant it depended on Nasdaq as the primary market and did not qualify for Stock Connect inclusion.

Token unlocks on Sept. 1

  • Sui (SUI): about 13.53 million tokens at 08:00 Beijing time, roughly 0.33% of circulating supply, worth about $10 million.
  • EigenCloud (EIGEN): about 36.82 million tokens at 12:00 Beijing time, roughly 5.48% of circulating supply, worth about $7.2 million.

Sept. 2

Ethena to unlock about 40.63 million ENA

Ethena (ENA) is scheduled to unlock about 40.63 million tokens at 15:00 Beijing time on Sept. 2, equal to roughly 0.46% of circulating supply and valued at about $6.4 million.

The source material also says the Ethena Foundation has announced four ecosystem changes, including a governance proposal to buy back ENA and the cancellation of monthly VC unlocks. The foundation said it has repurchased all locked tokens from some major seed investors who sold ENA over the past nine months. It also reached agreements with major investors to remove future monthly VC-related sell pressure by releasing unvested tokens. Team tokens remain locked under the original vesting schedule.

Sept. 3

Fed Beige Book due, Waller set to speak on inflation

The Federal Reserve will publish the Beige Book at 02:00 on Sept. 3 to assess economic conditions across the U.S. The source material says the report’s descriptions of employment and inflation will be watched ahead of the September rate meeting after an unexpected contraction in July payrolls and elevated long-end yields.

Fed Governor Christopher Waller is also scheduled to speak on the inflation outlook that day. The source material additionally notes that Fed Chair Wash is expected to speak at Jackson Hole on Friday without giving a clear rate signal.

Binance to delist ICX, SCRT, and STORJ on Sept. 3

According to an official announcement, Binance will halt trading and delist ICON (ICX), Secret (SCRT), and Storj (STORJ) at 11:00 Beijing time on Sept. 3, 2026.

Sept. 4

U.S. to release August unemployment rate and nonfarm payrolls

The U.S. will release its August unemployment rate and seasonally adjusted nonfarm payrolls at 20:30 Beijing time on Sept. 4. The source material cites U.S. Labor Department data saying July payrolls unexpectedly shrank by 23,000, the worst reading of the year, while August is expected to show a gain of 55,000.

As the last payrolls report before the Sept. 15-16 FOMC meeting, the data are expected to shape market pricing for the pace of rate cuts and influence the dollar, U.S. Treasurys, and global risk assets.

PBOC to issue AI-themed commemorative gold and silver coins

The People’s Bank of China said it will issue a set of “Future of Innovation and Technology (Artificial Intelligence)” commemorative gold and silver coins on Sept. 4, 2026. The set includes three legal-tender coins: one 5-gram square gold coin and two 15-gram round silver coins.

The gold coin carries a face value of 80 yuan, contains 5 grams of 99.9% pure gold, and has a maximum mintage of 10,000. Each silver coin has a face value of 5 yuan, contains 15 grams of 99.9% pure silver, and the two silver coins together have a combined maximum mintage of 40,000. The coins will be minted by Shanghai Mint Co. and Shenzhen Guobao Mint Co., distributed by China Gold Coin Group Co., and sold through the China Gold Coin website and its official WeChat account.

Sept. 5

Pakistan sets Sept. 5 deadline for crypto licensing applications

Pakistan’s virtual asset regulator, PVARA, has formally launched crypto asset licensing registration and told domestic virtual asset service providers to submit applications for a no-objection certificate by Sept. 5 or stop operating.

The framework is based on the Virtual Assets Act 2026 and covers 11 business categories including custody, exchanges, broker-dealers, and derivatives. PVARA said licensed entities must meet strict operating and security standards, including safeguards for client funds, stronger cybersecurity, and transparent disclosures. The source material adds that Pakistan’s central bank lifted its ban in April on banks serving crypto businesses, though commercial banks still cannot directly invest in, trade, or hold crypto assets.

Opinion to unlock about 39.25 million OPN

Opinion (OPN) is scheduled to unlock about 39.25 million tokens at 20:00 Beijing time on Sept. 5, equal to roughly 10.04% of circulating supply and worth about $2.2 million.

Sept. 6

Nium acquires Cypher, which will shut down its platform on Sept. 6

Cross-border payments infrastructure company Nium said it has acquired Cypher, a crypto-native non-custodial wallet and card issuer. Nium said the deal expands its core capabilities in compliant money movement and settlement infrastructure between fiat and digital assets.

Cypher was founded by Kuberan Marimuthu, also known as Kube, and backed by Y Combinator and Coinbase Ventures. The company spent the past four years building products that sit at the intersection of on-chain systems and banking rails. Kube has joined Nium as vice president of digital assets, and Cypher’s engineering team is joining as well.

As part of the transition, Cypher will gradually shut down its current platform, including its consumer app, business card platform, and the CYPR ecosystem. The platform will continue to operate through Sept. 6. Cypher cards can be used until Aug. 7.

Hyperliquid to unlock about 433,000 HYPE

Hyperliquid (HYPE) is scheduled to unlock about 433,000 tokens at 08:00 Beijing time on Sept. 6, equal to roughly 0.1% of circulating supply and valued at about $36.1 million.

Date to be announced

Solana to begin phase one of rent relief measures next week

Jacob Creech, vice president of technology at the Solana Foundation, said Solana will see several changes soon. Phase one of rent relief measures will start next week, Transaction V1 will go live on Sept. 9, slot time will be shortened further, and the Alpenglow upgrade is set for October. He also said the community will hold the Scale or Die conference in November.

Kraken Wallet previews co-signer multisig feature

subugatai, Kraken’s on-chain product lead, published a “Kraken Wallet Manifesto” saying the iOS version is already available and Android will launch next week. He also previewed “Kraken co-signer multi-sig,” which splits a private key into multiple shards, with one shard held by Kraken and used in signing after the user completes two-factor authentication through a Kraken account. The wallet fee is 0.1%.

The wallet supports EOAs, 7702 smart accounts, and embedded wallets. Users can connect existing hardware signers or multisig wallets and manage funds with different wallet types depending on risk level. Kraken Wallet will also support xStocks trading, stablecoin-fiat swaps, a non-custodial debit card, bringing K-Assets on-chain through qualified custody, and native integration with the Ink ecosystem.

Arthur Hayes to host AMA on Flop Labs next week

Arthur Hayes said on X that a FLOP tokenomics infographic for his AI-and-crypto project Flop Labs will be released this week. He said he will host an AMA on X Spaces and YouTube next week to answer questions about the token model and gather feedback for further design work.

This article was originally published by Bit.Fan. For more cryptocurrency news and market insights, visit www.bit.fan.
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