Bitpush Daily News Selection: The Federal Reserve will hold a payments innovation conference next month to discuss stablecoins, artificial intelligence, and tokenization; Bitcoin dominance drops to 55%, signs of altcoin rotation emerge; Prediction market Polymarket has been approved by the CFTC to return to the US market; Federal Reserve Beige Book: Most districts report stagnant economic activity.

Bitpush editors’ daily selection of Web3 news:

[Federal Reserve to Hold Payments Innovation Conference Next Month, Discussing Stablecoins, AI, and Tokenization]

According to Bitpush, the Federal Reserve will hold a payments innovation conference on October 21. Topics will include stablecoins, artificial intelligence, and tokenization.

[Bitcoin Dominance Drops to 55%, Signs of Altcoin Rotation Emerge]

Bitpush reports, citing The Block’s data and insights report, that bitcoin’s share of the crypto market has dropped from a peak of 62% to 55%, indicating the market is entering an early stage of capital rotation from bitcoin to altcoins.

Ethereum (ETH) and Solana (SOL) are attracting renewed attention from both institutional and retail investors, while multiple digital asset treasuries are raising funds through publicly traded entities and purchasing assets, supporting a potential rise in altcoins. The report notes that if the market continues to favor high-risk assets, altcoins could see further gains in Q4, but the key lies in whether real spot demand can be established, rather than relying solely on short-term trends driven by derivatives.

[Prediction Market Polymarket Approved by CFTC to Return to US Market]

Bitpush reports that crypto prediction market platform Polymarket has received a “no-action” letter jointly issued by the CFTC’s Division of Market Oversight and Division of Clearing and Risk, allowing it to return to the US market under certain conditions after the US Commodity Futures Trading Commission (CFTC) terminated its investigation. CEO Shayne Coplan stated on X that this approval process was completed at record speed.

[Federal Reserve Beige Book: Most Districts Report Stagnant Economy]

Bitpush reports that the Federal Reserve Beige Book states: Since the last report, economic activity in most Federal Reserve districts has seen little or no change, with four districts reporting modest growth. Ten districts indicated that price increases were moderate or modest.

[SUI Group Holdings: Value of Held SUI Tokens Exceeds $300 Million]

Bitpush reports that Nasdaq-listed SUI Group Holdings has announced that the total value of its held SUI tokens has surpassed $300 million. The company recently added about 20 million SUU tokens, bringing its total holdings to 101.7 million tokens, valued at approximately $344 million at current prices (as of 12:36 PM ET on September 3, SUI price rose nearly 5% to $3.38).

SUI Group Chief Investment Officer Stephen Mackintosh stated that the company will continue to seek opportunities to increase capital in order to purchase more locked SUI tokens at a discount, thereby “increasing the SUI per share and creating value for shareholders.”

Previously known as Mill City Ventures, SUI Group has reached an agreement with the Sui Foundation to acquire tokens directly at a discounted price. The company has established its position as the official SUI treasury by completing $450 million in private fundraising. The company still holds about $58 million in cash, which can be used for further SUI token purchases.

[Trump’s Eldest Son: American Bitcoin to Establish Largest Bitcoin Reserve in the US]

Bitpush reports that Donald Trump Jr., the eldest son of Trump, posted on X that he is honored to see American Bitcoins listed. The company will establish the largest bitcoin reserve in the United States and restore transparency, accountability, and trust to the US financial system. Donald Trump Jr. added: “A new era of American Bitcoin begins now.”