1/ Americans’ one-year inflation expectations rise to 3.9%
The New York Fed’s September survey showed that inflation expectations for the next year rose to 3.9%, the highest level since May 2023. Three-year inflation expectations stood at 3.3%, while five-year expectations were 3.0%.
2/ Wall Street retreats from record highs as US bond yields rise
The S&P 500 and Dow Jones ended their four-session winning streaks, while the Nasdaq fell for the first time in six sessions. Long-term US Treasury yields rose as markets remained concerned about inflation and public debt.
3/ Fed discusses response options if bond markets come under stress
Fed minutes show that some officials want to have tools ready to address potential disruptions in the Treasury market. The Fed does not currently believe the market is unstable, but emphasized the need to refine intervention mechanisms and communications.
4/ Robinhood adds $25 million in Bitcoin to its balance sheet
Robinhood confirmed that it purchased $25 million worth of BTC for its own balance sheet. Vice President Johann Kerbrat said the move is intended to demonstrate the company’s long-term commitment to Bitcoin and the crypto ecosystem.
5/ Coinbase completes Deribit integration
Coinbase said its integration of Deribit is complete. In the coming weeks, Coinbase Financial Markets plans to bring U.S. and international derivatives liquidity together in a single, shared liquidity pool, while rolling out crypto options, spot margin trading, and a unified portfolio.
6/ Circle brings USDC and EURC into the SAP ecosystem
Circle is partnering with SAP-backed company Tereina to integrate USDC and EURC into corporate payment workflows. Businesses can send and receive stablecoins directly within the applications they already use.
7/ Moody’s rates a stablecoin protocol for the first time
Moody’s assigned Sky Protocol a B3 rating with a stable outlook, marking the first time the agency has rated a stablecoin protocol. Sky has also previously been rated by S&P Global Ratings.
8/ Ethereum researcher urges advance preparation for quantum risks
Justin Drake of the Ethereum Foundation believes the blockchain industry should begin preparing a “defensive” approach by moving assets in a controlled manner to new addresses that have never signed a transaction, thereby limiting exposure of public keys. He emphasized that there is no need to panic or rush to move funds.
9/ OKX raises more capital, maintains $25 billion valuation
OKX received additional strategic investment from Circle, Ripple, Standard Chartered’s SC Ventures, and Qube Research & Technologies. The amount raised was not disclosed, but the pre-money valuation remains at $25 billion.
10/ South Korea continues to lead East Asia in cryptoasset activity
Crypto activity in South Korea totaled approximately $449.1 billion over one year, making it the largest market in East Asia. AI-related assets are emerging as one of the most prominent segments among retail investors.
11/ Government calls for swift completion of guidance on implementing digital asset regulations
In its October 7 directive, the government called for new policies to be urgently put into practice, including detailed guidance on digital asset regulations and completion of the legal framework for the International Financial Center in Ho Chi Minh City.