Daily Brief: September 8, 2025
Crypto Climb, 24/7 Trading, Phishing Threats
Michael Saylor's net worth has jumped to $7.37 billion thanks to Strategy's Bitcoin holdings, showing crypto's role in wealth building. US regulators are considering 24/7 trading for digital and traditional assets to modernize markets. Meanwhile, phishing scams exploiting Ethereum EIP-7702 led to $12 million in losses, pressing the need for better security in crypto transactions.
📈 Michael Saylor's Billionaire Leap with Bitcoin
Michael Saylor, co-founder of Strategy, has seen his net worth climb to $7.37 billion, placing him at number 491 on the Bloomberg Billionaire 500 Index. This increase is largely due to Strategy's bold approach to Bitcoin, with the company holding about 659,739 BTC, valued at $72.9 billion.
Even with a 12% rise in Strategy's stock price this year, the company experienced a 12.4% drop over the past month. It was also removed from the S&P 500, though it remains part of the Nasdaq 100. Saylor's wealth is primarily linked to Strategy's equity, with $650 million in cash.
Saylor's ascent underscores the growing influence of crypto assets in building wealth. Strategy's Bitcoin holdings, acquired at an average price of $73,765 per coin, have played a significant role in boosting his fortune. This highlights the potential of crypto to reshape financial landscapes.
Why it matters: Saylor's wealth surge and Strategy's Bitcoin strategy highlight the increasing role of crypto in wealth creation and market dynamics, despite challenges in traditional market recognition.
🕒 US Regulators Eye 24/7 Trading for Crypto and More
The US Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) are considering the introduction of 24/7 trading for both crypto and traditional assets. This initiative aims to align US markets with global trading practices, reflecting the needs of a digital, always-on economy. The proposal could transform how assets are traded, offering more flexibility but also introducing new risks for traders.
This shift to round-the-clock trading is part of a broader effort to modernize US financial markets. The CFTC's Foreign Board of Trade framework, which allows offshore crypto exchanges to serve US clients, highlights the challenges of adapting traditional finance regulations to the digital age. However, experts argue that the current framework is not well-suited for crypto exchanges, emphasizing the need for a dedicated crypto market structure bill.
The potential shift to 24/7 markets follows the Trump administration's 2025 crypto report, which called for regulatory clarity and cooperation between agencies. This initiative could increase capital velocity and liquidity, especially for digital assets. However, the SEC and CFTC recognize that a universal approach may not suit all asset classes, indicating that careful consideration is needed to balance innovation with risk management.
Why it matters: Transitioning to 24/7 trading could significantly enhance market accessibility and liquidity, benefiting investors and potentially driving innovation in the digital asset space.
🚨 Phishing Scams Exploit Ethereum EIP-7702, Costing $12M
In August 2025, phishing scams in the crypto world resulted in over $12 million in losses, a 72% jump from July. More than 15,000 victims were targeted, with scammers exploiting Ethereum's EIP-7702 to siphon off $5.6 million through vulnerabilities in smart contract wallets.
These scams often mimic legitimate exchanges, using fake websites to steal sensitive information like seed phrases. This increase in phishing points to a trend of more sophisticated attacks, underscoring the importance of verifying URLs and using two-factor authentication.
Crypto whales, or large holders, were hit hardest, with the top three incidents making up nearly half of the monthly losses. While the broader crypto market remains substantial, these security issues highlight the urgent need for better blockchain protections.
Why it matters: The rise in phishing scams exploiting new blockchain features poses significant financial risks, highlighting the need for stronger security measures to protect crypto users.