US Core PCE in Line with Expectations
The August core PCE annual rate came in at 2.9%, in line with expectations. The steady course of inflation stands out as an important data point guiding the Fed’s policy steps.
Statement from Fed’s Barkin
Fed Governor Barkin emphasized that uncertainties remain regarding how interest rate policy will shape up, noting that information on the trajectory of inflation and unemployment is still limited.
BTC Transfer from Bhutan
According to On-chain Lens data, the Royal Government of Bhutan transferred approximately 355.51 BTC ($387.8M) worth of assets to a new wallet. This transaction indicates that state funds are actively managed in crypto.
China’s Response to the TikTok Agreement
Following Trump’s TikTok executive order, Chinese Foreign Ministry spokesperson Guo Jia Kun stated that China’s position is clear and that they welcome companies conducting commercial negotiations within the framework of market rules. He emphasized that the US must provide a fair and non-discriminatory business environment for Chinese companies.
SOL Transfer from Galaxy Digital
According to on-chain data, a wallet associated with Galaxy Digital transferred 200,000 SOL ($39.1 million) to Coinbase. A transfer of this magnitude could be interpreted as potential selling pressure. High-volume centralized exchange (CEX) movements often cause fluctuations in market sentiment.
Moody’s: Crypto Risk in Emerging Markets
Credit rating agency Moody’s reported that crypto adoption in emerging markets could threaten monetary policy sovereignty and financial resilience. In particular, pricing and payments in currencies other than local currencies, especially with the use of dollar-based stablecoins, create shadow dollarization-like risks. This situation could lead to a loss of transparency and regulatory visibility.
Solana Spot ETF Application
According to US SEC documents, Canary has submitted an updated Solana spot ETF S-1 application. This move could accelerate Solana’s process of opening up to institutional investors.
Institutional Bitcoin Purchases
- In Japan, Mac House purchased an additional 18.17 BTC, bringing its total holdings to 106.65 BTC.
- In the UK, B HODL purchased an additional 12 BTC, bringing its total holdings to 112 BTC.
USDC Burn Transaction
According to Whale Alert data, the USDC Treasury burned 60M USDC on Ethereum. Such transactions are typically conducted for supply management and reserve optimization purposes.
