Bitcoin Breaks $113,000
Bitcoin (BTC) hit the $113,500 level and rose 2.30% on the day, according to Darkex market data. Weakening pressure on producer prices provides a stronger rationale for the Fed to cut interest rates.
US PPI for August was Below Expectations
According to Jinshi data Producer Price Index (PPI) in the US rose by 2.6% yoy in August. Expectations were 3.3% and the previous reading was also announced as 3.3%. This figure shows that the pressure on producer prices is weakening and provides a stronger rationale for the Fed’s rate cut.
Swiss National Bank: No Need for Stablecoins
SNB President Schlegel said that Switzerland’s own financial infrastructure is strong and does not need a separate stablecoin. This statement shows that Switzerland is distant from CBDC or stablecoin plans and has confidence in the existing monetary system.
SEC Chairman Atkins: “Most Tokens Are Not Securities”
According to Coin telegraph, US SEC Chairman Paul Atkins, speaking at the OECD roundtable in Paris, said that most crypto assets are not securities. Atkins shared his plans for a holistic regulatory framework that would bring crypto activities such as trading, lending and staking under one roof. He emphasized that policies in the new period will be shaped by clear rules instead of ad hoc sanctions. He also announced that the Presidential Task Force on Digital Asset Markets presented a “bold roadmap”.
Wells Fargo: Fed to Cut Interest Rates 5 Times by Mid-2026
Wells Fargo expects the Fed to cut rates a total of 125 basis points (25 bp five times) by mid-2026. The first three cuts are expected by the end of 2025 and the remaining two in March and June 2026. The forecast reflects a weakening labor market and an unemployment rate of 4.3%. The Bank raised the probability of a recession to 35%, but forecasts growth to pick up to 2.4% in 2026 on fiscal stimulus and rate cuts.
Wall Street: High Inflation Data Won’t Have a Big Impact on Stocks
Wall Street strategists expect this week’s CPI to be “hot” but see labor data as more decisive. Citigroup strategist Stuart Kaiser noted that the S&P 500 is pricing in 0.7% two-way volatility post-CPI, which is below historical averages. Investors believe the real move will come with the October employment report.
Trump Dismisses Fed Member Lisa Cook
The White House announced that President Trump “legally” dismissed Fed Board Member Lisa Cook. This decision is expected to move to the judicial process and have an impact on the balances within the Fed.
Altvest Capital Plans to Raise $210 Million in Funds for Bitcoin
South Africa-based Altvest Capital aims to become the first African company to adopt Bitcoin as a reserve asset by raising $210 million. With the funds raised, the company plans to strengthen its Bitcoin reserve and prepare for an international listing.
Smarter Web Company Increases Bitcoin Reserve to 2,470 BTC
UK-listed Smarter Web Company acquired another 30 BTC as part of its “Ten Year Plan”. Its total reserves reached 2,470 BTC. The company’s year-to-date BTC return is 56.796%, up 18% in the last 30 days. Cash reserves stand at £400,000 and the company accepts payments in Bitcoin.
BlackRock Plans to Launch Bitcoin ETF in the UK
According to Citywire BlackRock plans to list its iShares Bitcoin ETF on the London Stock Exchange following new regulation that will expand access for retail investors. With the FCA allowing individual investors to buy crypto ETFs from October 8, the UK will align with Europe’s major markets.
Ministers’ Crypto Assets Disclosed for the Second Time in India
Indian Union Minister Jayant Chaudhary’s crypto investments increased by 19% to $25,500. His wife also increased her portfolio by 18% to $26,800. Both described their funding sources as “personal savings”, but did not specify which crypto assets they invested in. This development shows that despite India topping the 2025 Chainalysis Crypto Adoption Index again, regulations are still lagging behind.
Musk Donates $1 Million for Ukrainian Refugees – IRYNA Coin Up 195
Elon Musk announced a $1 million donation in memory of assassinated Ukrainian refugee Iryna Zarutska. Following this, the meme coin IRYNA, mined on Solana, surged 195%, pushing its market capitalization to over $34 million.
Shiba Inu LEASH v2 Migration Begins
Shiba Inu developers have announced that LEASH v2 migration will begin in the coming days, following the completion of an audit by security firm Hexens. The new contract is built on the OpenZeppelin ERC-20 library and no new tokens will be minted. Existing v1 tokens will be burned or locked, in return v2 tokens will be distributed from the multi-sig wallet.
Eightco Launches Worldcoin Treasury Strategy with $270 Million Private Capital Raise
Eightco Holdings (NASDAQ: OCTO) announced the launch of its Worldcoin (WLD) reserve strategy with a $270 million private capital raise. Institutional investors such as World Foundation, Discovery Capital, Kraken, Pantera and BitMine Immersion participated in the transaction. Most of the funds will be used for the Worldcoin reserve.
USDC Treasury Burns 59 Million USDC
According to Whale Alert, USDC Treasury burned 59 million USDC on the Ethereum chain. This step was taken to stabilize supply and maintain the dollar peg.
Paxos’ Chance Increases to 42% in Hyperliquid USDH Auction
According to Polymarket data, in the Hyperliquid stablecoin USDH auction, Native Markets is leading with 52%, Paxos rose to 42% to second place, while Ethena remained at 8%. Paxos’ offer features PayPal integration, free deposits and withdrawals, and a $20 million ecosystem incentive.
135,700 ETH Withdrawn from Ethereum Exchanges
According to Coinglass data, there were 135,700 ETH outflows from exchanges in the last 24 hours. Coinbase led the way with 120,800 ETH, followed by Kraken with 47,000 ETH and Bitfinex with 18,400 ETH. Binance attracted attention with 35,400 ETH inflows.
Ethereum PoS Network Exit Queue Breaks Record
According to Validatorqueue, the number of ETH in the Ethereum PoS network exit queue has reached 2.16 million. This is worth about $9.35 billion and the waiting time has increased to 37 days and 15 hours. There are 805,678 ETH waiting for network participation.
Long Positions at Risk as Ethereum Trading Volume Declines
According to Matrix port, Ethereum trading volume fell from $122 billion to $41 billion. Despite the lack of a significant decline in open positions, high funding rates increase the risk of liquidation for leveraged long positions.
Sharp Link Gaming’s Ethereum buying pace stalled last week, leaving its reserve at 837,230 ETH. BitMine, on the other hand, increased its purchases, reaching 2,070,000 ETH. Sharp Link bought about 1 million SBET shares as part of a $1.5 billion share buyback plan. The company noted that share prices are undervalued, and the buybacks will increase long-term shareholder value.
