Market Performance
- Bitcoin 119,990 -0.46%
- Ethereum 4,480 -0.16%
- BTC Spot ETF +627m
- ETH Spot ETF +307m
- Dow +0.17%,
- Nasdaq +0.39%,
- S&P 500 +0.06%,
- Russell 2000 +0.66%
- 10-year yield down 1.55 bps to 4.0807%
- DXY 97.8916 +0.15%
- VIX 16.63 +2.09%
- Brent Crude Oil 64.32, -1.58%
- LBMA Gold 3855.66- 0.25%
US-China Trade Negotiations
Treasury Secretary Bessent announced that he expects significant progress in the negotiations to be held at the end of October. It was noted that Trump and Xi Jinping may hold an impromptu meeting in South Korea, and that China may use US soybean exports as a bargaining chip.
Trump Administration Pressures Companies to Sign Sectoral Agreements
The Trump administration is pressuring companies to sign agreements in 30 sectors, including semiconductors, artificial intelligence, quantum computing, critical minerals, pharmaceuticals, and energy. The goal is to gain political influence ahead of the 2026 midterm elections. Companies are being asked to increase production and make investment commitments, while concessions such as tariff reductions are being offered in return.
Fed Members’ Views on Interest Rate Cuts
- Dallas Fed President Lorie Logan (hawkish, no voting rights in 2025)
Logan did not warmly welcome interest rate cuts, noting that inflation risks persist. She said unemployment could rise slightly but did not expect a dramatic increase. In her view, inflation is a more urgent threat than unemployment, and the Fed should avoid being too aggressive in easing.
- Chicago Fed President Austan Goolsbee (dovish, voting rights in 2025)
Goolsbee stated that the economy is growing steadily and the labor market is resilient. He emphasized the need to turn to alternative data sources if official statistics are not published due to the government shutdown. According to Chicago Fed analysis, the unemployment rate most likely remained stable in September.
Strategy’s Bitcoin Assets Surpassed Financial Giants
With Bitcoin surpassing $120,000, the market value of Strategy’s 640,031 BTC holdings reached $77.4 billion. This value surpassed the market value of nine major financial institutions, including Barclays, Deutsche Bank, and ING. It is also equivalent to the gross domestic product of Uruguay, Sri Lanka, and Slovenia.
SEC Remains Silent on Canary Spot Litecoin ETF Decision
Due to the US government shutdown, the SEC has not announced any decision on Canary Capital’s spot Litecoin ETF application, even though the evaluation period has expired. This situation has created uncertainty in the crypto community and raised concerns that the approval processes for other crypto ETF applications may also be affected.
Vitalik Buterin Announces Ethereum Applications Guild
Ethereum founder Vitalik Buterin announced the creation of the Ethereum Applications Guild (EAG). The goal is to bring developers, researchers, and institutions together to transition the ecosystem from an infrastructure-focused phase to an application-focused phase. This initiative aims to build a sustainable and transparent collaboration mechanism on Ethereum.
VanEck Files for Lido Staked Ethereum ETF
VanEck has filed for a Lido Staked Ethereum ETF in Delaware. An official application to the SEC is expected shortly. This initiative demonstrates the growing popularity of staking products among institutional investors.
Metaplanet CEO: BTC Purchases Will Continue
Metaplanet CEO Simon Gerovich announced that the company will continue to accumulate BTC despite the sharp decline in its share price. Recalling that Amazon went through a similar process during the dot-com crisis, Gerovich said that short-term price fluctuations will not change the company’s strategy.
US Government Shutdown May Extend
The US Senate is expected to vote on a temporary budget bill on October 3. If the bill is not passed, the federal government shutdown could continue into next week. This could create more uncertainty in the flow of economic data and policy processes.
24/7 Crypto Trading from CME Group
The Chicago Mercantile Exchange announced plans to launch 24/7 crypto futures and options trading in early 2026. This step will provide uninterrupted market access for institutional investors.
$100 Million SOL Buyback Plan from Sharpe Technology
Sharpe Technology, a key player in the Solana ecosystem, is planning a $100 million SOL buyback to reduce the number of tokens in circulation. This move is seen as strengthening the ecosystem’s treasury.
Bitcoin Depot Acquires National Bitcoin ATM
Nasdaq-listed Bitcoin Depot has acquired National Bitcoin ATM to expand its network in the US. Following the transaction, 500 new devices will be added to the network, and operations will expand to 27 states.
Fitell Corporation Acquires $1.5 Million Worth of PUMP Tokens
Nasdaq-listed Fitell Corporation has purchased 216.8 million PUMP tokens for $1.5 million. The company announced this move as part of its strategic expansion in the Solana ecosystem.
Arthur Hayes: ECB Money Printing Will Boost BTC
BitMEX founder Arthur Hayes said France’s debt problems will force the ECB to print trillions of euros, which will act as a catalyst to push up the price of Bitcoin.
Justin Sun Takes the Stage at TOKEN2049
TRON DAO became the main sponsor of TOKEN2049. In his opening speech, Justin Sun emphasized TRON’s role in blockchain innovation and building a global community.
Interest-Bearing Stablecoin Supply Exceeds $20 Billion
According to Stablewatch data, the supply of interest-bearing stablecoins has increased by 33% in the last two months, rising to $20 billion. Among the fastest-growing projects are Reservoir srUSD, USDai sUSDai, and StreamDefi xUSD.
