On May 30, U.S. Treasury Secretary Basant stated that he is 100% in favor of Waller's decision to eliminate forward guidance, which will lead to a more focused and credible Federal Reserve.
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U.S. Treasury Secretary Basant: Fully Supports Waller's Move to Eliminate Fed's Forward Guidance
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SEC Commissioner Peirce Calls for Reduced Personal Data Collection and Promotes Privacy Protection Technologies
On September 24, Bitcoin Magazine reported that Hester Peirce, a U.S. SEC commissioner known as 'Crypto Mom', who will be leaving her position in November, urged at the SIFMA Digital Assets Conference in New York for a rethinking of how the financial system is monitored. She advocated for collecting less personal data rather than more. Peirce criticized KYC/AML regulations, stating that the increasing data collection and intermediary monitoring are turning the financial landscape into a 'panopticon prison'. She argued that accumulating data on compliant customers does not help in tracking down criminals; instead, it makes it harder to find the 'needle' in the 'haystack' and increases the risks of data breaches and misuse. She proposed the use of zero-knowledge proofs (ZKP) and attribute-based credentials to verify age, accredited investor status, or whether someone is on a sanctions list without exposing personal information. Additionally, she urged the SEC to allow companies to rely on identity verifications completed by other regulated entities. Peirce identified herself as a 'libertarian' rather than an industry spokesperson. -
Tether's Partner Bank EQIBank Faces Asset Seizure, Funds Frozen
On September 24, The Information reported (by reporters Yueqi Yang and Michael Roddan) that some of Tether's funds are trapped in its partner bank EQIBank, which is facing liquidation risks due to an asset seizure by U.S. authorities. EQIBank is a licensed digital bank in Dominica; U.S. law enforcement has seized approximately $89 million in assets related to it, reportedly accounting for about 80% of the bank's currency holdings, stemming from a securities fraud lawsuit involving payment processor Capstone Ltd. EQIBank has warned that it may be forced to liquidate. Tether responded that its exposure at the bank is limited, accounting for less than 0.034% of its total assets, but did not disclose a specific dollar amount or directly confirm the report. There has not yet been a noticeable panic in the market regarding de-pegging. -
Jensen Huang: If Frontier Labs Can't Control AI, They Must Be Shut Down
On September 25, in an interview with The New York Times, NVIDIA CEO Jensen Huang stated that if frontier labs cannot ensure AI safety, "we must shut down these labs." Referring to the jailbreak attacks on frontier AI models from companies like OpenAI, Anthropic, Meta, and Google, Huang emphasized that if these labs cannot control their AI experiments, those experiments must cease. He warned that uncontrolled AI agents could lead to civil and criminal liabilities, and the labs must bear the consequences. Currently, concerns surrounding frontier AI labs are seen as "distractions" that deviate from the core issues, and there should not be widespread anxiety; instead, the focus should be on the controllability of the experiments. -
USD/JPY Short-Term Decline of Over 20 Points
On September 25, the USD/JPY fell short-term by over 20 points, currently reported at 158.35. In related news, Japanese Finance Minister Shunichi Suzuki expressed concerns over the weakness of the yen, stating that Japan will closely coordinate with the United States on foreign exchange matters. -
Multicoin Capital: The Arrival of DeFi 2.0 Era Driven by RWA Onboarding
On September 25, news emerged from a research article by Multicoin Capital, stating that as real-world assets (RWA) such as U.S. Treasury bonds, stocks, and foreign exchange accelerate their onboarding to blockchain, DeFi is transitioning from phase 1.0 to 2.0. Multicoin pointed out that the primitives of DeFi 1.0 (AMM, perpetual contracts, floating rate lending, over-collateralization) were designed for high-volatility, long-tail crypto assets. RWA features low volatility, narrow spreads, duration, high-quality collateral, and institutional participation, which have given rise to DeFi 2.0 primitives such as CLOB order books, RFQ pricing, fixed-rate lending, options, dark pools, and portfolio margining. Many of these primitives have existed for some time but previously lacked suitable assets. Value will be captured along the tech stack: L1/L2 public chains, core financial primitives, DeFi-native prime brokers, and application and order flow layers. Key targets include Pendle, Morpho Midnight, Project 0, and Renegade. -
20-Year Japanese Government Bond Yield Hits Highest Level Since May 1996
On September 25, the yield on Japan's 20-year government bonds rose by 4.0 basis points to 3.955%, marking the highest level since May 1996. -
Two New ETFs Listed on Hong Kong Stock Exchange Today
On September 25, the Hong Kong Stock Exchange announced that two new ETFs have been listed today: the Southern Pioneer Technology ETF and the Value Partners Glorious Communications Active ETF. -
Bullish and Four Other Institutions Form Issuer-Led Tokenized Securities Alliance
On September 24, CoinDesk reported that Bullish (NYSE:BLSH), along with shareholder services and market infrastructure company Equiniti, has formed the 'Issuer-Led Tokenized Securities Alliance' in collaboration with Alpaca, Apex Fintech Solutions, and DriveWealth. The alliance advocates for tokenized stocks to be directly linked to the issuer's official shareholder register, preserving voting rights, dividends, and corporate action rights, thereby avoiding synthetic products that only provide price exposure without legal rights. Key focus areas include shareholder rights protection, interoperability between traditional and on-chain infrastructure, issuance, transfer, settlement custody, and secondary market trading arrangements. This move follows the U.S. SEC's innovation exemption on September 17, which allows limited on-chain trading of U.S. listed stocks. -
BP Surges Past $1.26, Setting New Historical Highs with Over 40% Daily Increase
Market data shows that Backpack briefly surpassed $1.26, setting a new historical high, currently reported at $1.27, with a daily increase of over 47%. -
Hang Seng Tech Index Intraday Decline Expands to 2%
On September 25, the Hang Seng Tech Index saw its intraday decline expand to 2%. Xiaomi and Alibaba both fell over 3%.
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