Statements from Fed Officials
- Harker: Said he expects inflation to fall to 2% in 2027 and sees signs of fragility in the labor market.
- Waller: Stated that stablecoins should be included in regulatory protection and could increase payment options.
Critical Crypto ETF Decision Week from the SEC
According to Cointelegraph, the US SEC will make a final decision in October on 16 crypto ETF applications covering assets such as Solana, XRP, Litecoin, and Dogecoin. NovaDius President Nate Geraci said these are “extremely critical weeks” for spot crypto ETFs. However, it was noted that Fidelity and BlackRock’s applications are not included in this schedule.
Bitcoin Exchange Outflows
Over the past 30 days, there has been a net outflow of approximately 170,000 BTC from centralized exchanges. This trend indicates that investors are moving their assets out of exchanges and into more secure wallets. Such movements are generally interpreted as a sign of long-term holding intentions.
BlackRock Transfer to Coinbase Prime
According to Lookonchain, BlackRock deposited 49,608 ETH ($206M) and 340.5 BTC ($38M) into Coinbase Prime. Institutional transactions of this magnitude are noteworthy in terms of liquidity management or potential market strategies.
Gold Exceeds $1 Trillion in US Reserves
With gold prices hitting record highs, the value of the US Treasury’s gold reserves has surpassed $1 trillion. This amount constitutes more than 90% of the remaining value on the government’s balance sheet. Global tensions, trade wars, and expectations of interest rate cuts are increasing demand for safe havens.
Crypto Account Regulation in Turkey
Turkey plans to grant MASAK the authority to freeze bank and crypto accounts. The regulation, expected to be compliant with FATF standards, will be brought to the parliamentary agenda as part of the fight against money laundering and financial crimes.
Crypto Law in Poland
Poland’s lower house of parliament has passed the Crypto Asset Markets Act. The law introduces strict licensing requirements for CASPs; violations could be punished with fines of $2.8 million and up to two years in prison. Supervisory authority is granted to KNF.
Green Light for Crypto from Pakistan
Prime Minister Shehbaz Sharif described crypto as “the vehicle of the future.” This indicates that the government will take a more positive approach to crypto and that there may be new openings at the policy level.
Developments on the ETF Front
21Shares submitted an updated S-1 filing for its Spot Solana ETF to the SEC. This step accelerates competition for Solana-focused ETFs.
DeFi and DEX Data
Aster became the highest-grossing DEX on DeFiLlama, earning $25M in transaction fees over the last 24 hours. Although its spot volume is around $200M, Hyperliquid leads with $477M in volume.
This table shows that despite Aster’s high fee income; competition is intense in terms of trading volume.
Corporate Crypto Strategies
- Sharps Technology announced it will manage its 2M+ SOL ($400M) treasury through Crypto.com.
- BitMine Immersion increased its ETH holdings to 2.65M (total reserves of $11.6B). Its liquid cash position stands at $436M.
Other Developments
- Goldman Sachs upgraded its global equity rating from “neutral” to “buy.” The Fed’s dovish stance and strong earnings expectations are behind this decision.
- The Worldcoin team wallet transferred 20.66M WLD ($27M) to Kraken.
Qatar National Bank has implemented JPMorgan’s Kinexys blockchain platform to process US dollar payments.
