Blockonomi

TLDR:
FIU-IND issued PMLA compliance notices to 15 offshore crypto exchanges on September 9, 2026.
Named platforms include Weex, Blofin, Bitunix, Pionex, WhiteBIT, DigiFinex, Toobit, and XT.com.
Regulators also sought takedowns of the named platforms’ apps and websites accessible in India.
The action follows 2023 precedent, when FIU-IND issued similar notices to Binance and KuCoin.
India crypto crackdown efforts intensified on September 9, 2026, after the Financial Intelligence Unit-India issued compliance notices.
The notices went to 15 offshore platforms over non-compliance with the Prevention of Money Laundering Act, or PMLA. Platforms named include Weex, Blofin, Bitunix, Pionex, and WhiteBIT.
FIU-IND also sought takedowns of the platforms’ apps and websites accessible to Indian users. The move marks a new phase in offshore exchange oversight for Indian crypto traders.
Why FIU-IND Targeted These Platforms
FIU-IND operates under India’s Ministry of Finance and analyzes intelligence tied to suspicious financial transactions.
Certain crypto businesses must register as Reporting Entities under this framework. Registration brings obligations around record-keeping, due diligence, and reporting to authorities.
The September 9 notices covered 15 virtual digital asset service providers in total. Beyond Weex, Blofin, Bitunix, Pionex, and WhiteBIT, the list included Rezorex, DigiFinex, Toobit, and XT.com.
Latoken, WOO X, ChangeNow, SimpleSwap, Guardarian, and FixedFloat also received notices. Each platform now faces scrutiny over continued access to Indian users.
Crypto commentator Crypto Patel summarized the development on social media shortly after the announcement. The post noted that FIU-IND issued notices over PMLA and AML requirements, and sought app and website takedowns. For offshore traders, the post said exchange risk had entered a new phase.
INDIA CRACKS DOWN ON 15 CRYPTO EXCHANGES
FIU-IND has issued compliance notices to 15 offshore crypto platforms over PMLA and AML requirements, seeking app & website takedowns. For Indian crypto traders, offshore exchange risk just entered a new phase. https://t.co/csIQjjtFq2
— Crypto Patel (@CryptoPatel) September 10, 2026
India brought specified virtual digital asset activities under its anti-money laundering framework back in March 2023. This means qualifying offshore platforms serving Indian users can fall under domestic AML rules.
Physical headquarters location alone does not remove that obligation. The activity itself determines whether coverage applies.
Understanding AML, KYC and Reporting Entity Rules
Anti-Money Laundering compliance aims to stop criminals from moving illicit funds through financial platforms. For exchanges, this can include identity verification, transaction monitoring, and suspicious activity reporting.
Sanctions screening and record maintenance also fall within standard AML practice. Enhanced due diligence typically applies to higher-risk customer profiles.
Know Your Customer procedures form one part of the broader AML structure. Traders who submitted identification documents when opening an exchange account have completed KYC. Some platforms request additional details about a customer’s source of funds.
A Reporting Entity is a business covered by PMLA with specific compliance duties. These duties include maintaining records, conducting due diligence, and reporting information to FIU-IND.
Covered activities include exchanging virtual assets for fiat currency and transferring virtual assets. Custody and administration services also fall within the framework.
India’s approach treats these as activity-based obligations rather than location-based ones. A platform serving Indian users can face compliance requirements regardless of incorporation country. Regulators increasingly focus on where services reach users, not just company location.
What This Means for Indian Crypto Investors
The FIU-IND action does not amount to a ban on Bitcoin, Ethereum, or other digital assets. India’s approach continues bringing service providers into compliance frameworks while warning investors about general risks.
Crypto trading itself remains legal for Indian residents. Enforcement here targets platform compliance rather than asset ownership.
Traders should weigh a platform’s regulatory standing alongside fees and available coins. Checking FIU status, KYC procedures, and withdrawal risk can reduce exposure to sudden access changes. Maintaining transaction records also helps establish fund history if required.
This action follows earlier precedent involving Binance and KuCoin in 2023. Both platforms received FIU-IND notices before facing penalties and moving toward compliance. That history suggests today’s notices are not an isolated event.
Platforms may now choose between meeting India’s compliance requirements or restricting access to Indian users.
This could reshape which offshore exchanges remain accessible over time. Regulatory standing is becoming as relevant as trading features when selecting an exchange.
The post India Crypto Crackdown: FIU-IND Hits 15 Offshore Exchanges With PMLA Notices appeared first on Blockonomi.

TLDR
Uber stock rises 0.53% after Spain approves its first Level 4 vehicle permit.
WeRide, Uber and AVOMO plan a 20-vehicle autonomous rollout across Madrid city.
Commercial autonomous ride-hailing in Spain is targeted before the end of 2026.
Madrid becomes Uber and WeRide’s first planned autonomous vehicle market in Europe.
Spain’s permit strengthens WeRide’s path toward wider autonomous expansion in Europe.
Uber (UBER) stock moved higher in pre-market trading after Spain approved a major autonomous driving milestone involving WeRide and AVOMO. UBER shares rose 0.53% to $71.48, recovering modestly from the previous session’s decline. The permit advances plans to launch Spain’s first commercial autonomous passenger service in Madrid.
Uber Technologies, Inc., UBER
Uber Stock Gains as Spain Approves Level 4 Operations
Spain’s Directorate General of Traffic granted the country’s first national permit for Level 4 autonomous passenger vehicles. The approval covers WeRide, Uber, and AVOMO under Spain’s DGT ES-AV framework. The permit allows the three companies to begin preparing autonomous vehicles for public-road operations.
The partners will start mapping, route validation, and operational readiness testing across high-demand areas in Greater Madrid. They plan to deploy 20 vehicles using WeRide’s latest autonomous driving technology. An in-car vehicle specialist will supervise each vehicle during the initial deployment phase.
The partners expect commercial operations to begin before the end of 2026 after completing regulatory requirements. Madrid will become the first European market for the planned Uber and WeRide autonomous service. The project also marks Uber and WeRide’s first planned autonomous vehicle deployment in Europe.
WeRide Partnership Expands Uber’s Autonomous Network
The Madrid project extends the Uber and WeRide partnership into the fourth city covered by their global agreement. The partnership targets 15 cities, with another 11 locations planned through 2030. Both companies plan to deploy tens of thousands of autonomous vehicles on public roads worldwide.
WeRide will provide its autonomous driving technology, while Uber will connect the vehicles with its mobility platform. AVOMO will manage fleet operations and support deployment activities across the Madrid region. This structure combines autonomous technology, ride-hailing access, and specialized fleet management.
Spain also gives the partnership access to one of Europe’s largest urban mobility markets. Madrid supports heavy commuting activity and already operates a mature ride-hailing network. Those conditions give the companies an established market for developing commercial autonomous passenger services.
Madrid Permit Supports Wider European Expansion
The permit gives WeRide its first national approval for its GXR autonomous vehicle within the European Union. WeRide now holds nine autonomous driving permits across several markets worldwide. The Spanish authorization may also provide a regulatory reference for future European certification efforts.
Spain operates its autonomous mobility program through the national DGT ES-AV regulatory framework. The system provides a structured process for testing autonomous vehicles on public roads. Uber and WeRide can now prepare their Madrid operations under that national regulatory process.
The development strengthens Uber’s autonomous mobility expansion beyond its traditional driver-based ride-hailing business. Autonomous fleets could eventually increase vehicle availability and support larger mobility networks across major cities. For now, Spain’s permit gives Uber a concrete regulatory step toward its first European autonomous service.

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TLDR
Palantir and Fujitsu deepen their strategic partnership across Japan and overseas.
Fujitsu signs a new agreement covering Palantir AIP and Foundry platforms in Japan.
A Japanese manufacturer saved over $10 million using Palantir technology in one year.
Fujitsu expands Forward Deployed Engineering capabilities for global customers.
PLTR traded at $168.84, down 0.41% in pre-market trading after closing at $169.53.
Palantir stock traded at $168.84 on Thursday after the company expanded its long-running strategic partnership with Fujitsu. PLTR slipped 0.41% in pre-market trading after closing the previous session at $169.53. Meanwhile, the renewed agreement strengthens Palantir’s commercial reach across Japan and other international markets.
Palantir Technologies Inc., PLTR
Fujitsu Expands Palantir AIP and Foundry Partnership
Fujitsu signed a new agreement with Palantir Technologies Japan covering Palantir AIP and the company’s Foundry platform. Under the expanded partnership, Fujitsu will also operate as a Global Forward Deployed Engineering partner. Therefore, the Japanese technology group will increase its role in implementing Palantir software for enterprise customers.
The companies will focus on businesses seeking greater control over corporate data, operating systems, and deployment environments. Palantir’s software connects company information with workflows, access controls, auditing systems, and operational applications. Fujitsu will combine those capabilities with its industry knowledge and technology services across several sectors.
The partnership also targets companies seeking customized applications within controlled and production-ready technology environments. Fujitsu will contribute its Takane language model, Uvance services, industry expertise, and trained engineering professionals. Consequently, customers can combine Palantir software with Fujitsu’s existing systems and operational knowledge.
Palantir Platform Delivers Savings for Japanese Manufacturer
The companies already demonstrated their partnership through a supply chain project for a major Japanese manufacturer. Fujitsu used Palantir technology to connect information from more than 3,000 suppliers and 18 manufacturing facilities. The project also linked previously separated corporate systems without interrupting the customer’s daily operations.
The manufacturer recorded more than $10 million in cost savings within one year after deploying the solution. Moreover, operational productivity doubled as teams gained faster access to connected information across the supply chain. The system also improved responses to disruptions and supported quicker operational decisions across the business.
That project provides Fujitsu with a working example as it expands Palantir deployments across additional customers. It also shows how Palantir can support large organizations managing complex supply chains and disconnected data systems. Therefore, the partnership could strengthen Palantir’s position among Japanese companies pursuing broader digital transformation projects.
Fujitsu Builds Global Forward Deployed Engineering Capacity
Fujitsu plans significant investment in Forward Deployed Engineering capabilities for customers inside Japan and international markets. These engineers work directly with customers to build applications around specific operational needs and existing business systems. Fujitsu has developed its engineering framework through its partnership with Palantir since their collaboration started in 2020.
The expanded program will combine Palantir’s software with Fujitsu’s technical workforce and experience across several major industries. Fujitsu will also use its Uvance business platform to connect company data with frontline operations. As a result, the companies plan to support deployments that move beyond basic software installation.
Palantir and Fujitsu will continue working jointly on customer projects in Japan and other global markets. Fujitsu will provide industry services and engineering support for organizations adopting Palantir Foundry and AIP. The renewed partnership gives Palantir another channel for expanding enterprise deployments through Fujitsu’s established customer network.

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TLDR:
Akita is LayerZero’s first production-ready, lattice-based post-quantum commitment scheme for ZK proving.
Proofs shrink to 65-80kb with Akita, a two-to-eight-times cut versus hash-based post-quantum schemes.
Jolt gains two-to-three-times faster proving and roughly half the memory usage with Akita.
Akita uses NIST-standard lattice cryptography, an early step toward a quantum-secure Zero stack.
LayerZero has introduced Akita, a lattice-based polynomial commitment scheme built for post-quantum security. The protocol, announced September 9, 2026, is described as the first production-ready primitive of its kind for zero-knowledge proving systems.
Akita will first appear inside Jolt, the zero-knowledge virtual machine developed with a16z crypto that powers the Zero blockchain.
LayerZero says the addition delivers quantum resistance alongside proof sizes far smaller than existing post-quantum alternatives, marking an early step toward a fully quantum-secure Zero stack.
What Akita Adds to Zero-Knowledge Proving
Akita is a polynomial commitment scheme, a core component inside zero-knowledge proving systems. It commits to and proves the correctness of a computation trace.
Replacing this component with a quantum-secure version protects the entire proving stack. The rest of the stack already carries information-theoretic security, according to LayerZero.
Introducing Akita, the first production-ready, lattice-based polynomial commitment scheme for post-quantum security.
It’s the first major step in making Zero quantum-secure, and will be implemented in Jolt on day one, thanks to our partnership with @a16zcrypto.
Read the full…
— LayerZero (@LayerZero_Core) September 9, 2026
Akita’s design is lattice-based, using the same mathematical class that NIST selected for post-quantum encryption and signatures.
That standard is currently being rolled out to protect encrypted internet traffic. LayerZero positions Akita as an extension of that broader shift toward lattice-based cryptography.
The scheme’s performance differs from existing post-quantum proving methods. Hash-based schemes typically produce proofs of 200kb or larger, LayerZero noted. Akita instead produces proofs between 65kb and 80kb, a reduction of two to eight times depending on the application.
Proving speed and memory use also improve under Akita. LayerZero states that proving with Akita runs two to three times faster than Jolt’s current performance.
Memory usage drops by roughly half, and Akita needs only sub-linear memory beyond storing the polynomial itself.
Jolt Deployment Signals Early Post-Quantum Progress
LayerZero pointed to two established paths toward post-quantum proving: hash-based schemes and lattice-based schemes. Hash-based methods have received considerable development over recent years.
Lattice-based assumptions, however, offer additional advantages, according to the company. These include smaller proof sizes and stronger performance on sparse workloads.
Akita is presented as the first commitment scheme bringing lattice-based security to a production-ready zero-knowledge proving system.
LayerZero also said lattice-based methods integrate more easily with the broader post-quantum internet. In its announcement post, the company described Akita as a major step toward making Zero quantum-secure. LayerZero added that Akita will be built into Jolt from day one, through its partnership with a16z crypto.
Jolt, the zero-knowledge virtual machine built with a16z crypto, will host Akita’s first major deployment. The integration lets Jolt combine post-quantum security with a smaller proof size and a faster prover.
LayerZero describes the result as the fastest production-grade zkVM currently offering quantum resistance. The company frames the update as one of several steps planned before Zero reaches mainnet.
LayerZero called Akita an early step toward a fully quantum-secure Zero stack, with further work expected. The company said additional post-quantum upgrades will continue as development moves toward mainnet and beyond.
Akita remains open source, and LayerZero noted that any proof system can adopt the scheme. The full technical paper and implementation are available on GitHub for further review.
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TLDR
IBM stock rises after the company expands its quantum operations in Switzerland.
ETH Zurich will give Swiss firms and researchers access to IBM quantum technology.
IBM plans Quantum System Two deployment at Switzerland’s supercomputing center.
Lockheed Martin and IBM will study quantum sensing and advanced metal manufacturing.
The Swiss hub expands IBM’s long-term research partnership with ETH Zurich.
IBM (IBM) stock entered Thursday after a strong previous session as the company expanded its quantum computing presence in Switzerland. Shares closed 3.38% higher at $239.94 before slipping 0.44% to $238.91 during pre-market trading. Meanwhile, IBM and Lockheed Martin launched a new quantum innovation hub with ETH Zurich.
International Business Machines Corporation, IBM
IBM Stock Gains Support From Switzerland Quantum Expansion
IBM will operate a Quantum System Two planned for deployment at the Swiss National Supercomputing Center in Lugano. The system will use IBM Quantum Nighthawk, which represents the company’s most advanced quantum processor. ETH Zurich will provide research expertise and access for businesses, academic institutions, and technology startups.
The project places advanced quantum computing infrastructure directly within Switzerland’s growing research and technology ecosystem. Furthermore, participating organizations can use IBM’s existing cloud-based quantum computing resources before the dedicated system arrives. IBM expects deployment of the dedicated Quantum System Two before the end of 2026.
The infrastructure will support research across chemistry, materials science, financial services, optimization, and other technical fields. IBM also expects researchers to develop new algorithms and practical industrial applications using the new computing platform. Consequently, the project expands IBM’s role within Switzerland’s scientific and commercial technology network.
IBM and Lockheed Martin Expand Advanced Research Partnership
IBM and Lockheed Martin will also pursue two development projects under their broader technology partnership. One project will examine quantum sensing technology for navigation systems and related applications. Another project will focus on improving additive manufacturing methods for metallic alloys.
The companies already cooperate across technologies linked to aerospace, defense, artificial intelligence, and advanced manufacturing. The Swiss initiative extends an existing partnership rather than creating an entirely new relationship. Lockheed Martin will contribute experience in quantum sensing and manufacturing alongside IBM’s computing capabilities.
The project operates through an offset agreement with armasuisse, Switzerland’s Federal Office for Defence Procurement. The agreement connects government procurement with research infrastructure and technology development inside Switzerland. The structure also strengthens links between defense research, commercial industry, universities, and emerging technology companies.
ETH Zurich Partnership Builds on IBM’s Swiss Research History
IBM has maintained research operations in Switzerland for decades through its established Zurich laboratory. The company has also worked with ETH Zurich on computing research and other scientific programs. Earlier in 2026, both organizations launched a separate ten-year program focused on advanced algorithm development.
The latest initiative extends that relationship by adding dedicated quantum hardware and education resources. ETH Zurich will coordinate access for Swiss organizations while supporting research, skills development, and technical training. Participants can also use IBM Quantum Network resources, learning programs, certifications, workshops, and research tools.
The hub will support conferences, partner forums, educational activities, and hackathons across the Swiss technology ecosystem. Therefore, IBM gains another European base for expanding practical quantum computing research and workforce development. The project also strengthens the company’s long-term innovation position after IBM stock posted a strong previous-session advance.

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Key Highlights
The drone manufacturer delivered fiscal Q1 2027 EPS of $0.59, significantly exceeding the consensus estimate of $0.22
Quarterly revenue reached $480.5 million, surpassing the $452 million forecast and representing 5.7% year-over-year growth
Order backlog expanded to $1.5 billion from $1.2 billion at April’s close
Company maintains FY2027 revenue outlook at $2.18 billion for the full year
Shares climbed 2.9% to $144.91 in extended trading following a 5.4% decline during the regular session
Shares of AeroVironment advanced 2.9% during after-hours trading Tuesday, reaching $144.91, as the unmanned aircraft systems manufacturer unveiled quarterly results that handily surpassed Wall Street’s projections.
For the first quarter of fiscal 2027, the defense contractor reported earnings of $0.59 per share against revenue of $480.5 million. The consensus forecast had called for earnings of only $0.22 per share alongside $452 million in revenue. In the comparable period last year, the company posted $0.32 per share in earnings on $455 million in sales.
The company’s adjusted EBITDA reached $53.4 million, representing a 36.6% beat compared to analyst expectations of $39.1 million. Operating margin showed notable improvement at -2.3%, a substantial recovery from the -15.2% reported in the prior-year quarter.
While free cash flow remained negative at -$35.95 million, this marked significant progress compared to the -$146.5 million recorded during the same quarter last year.
AEROVIRONMENT $AVAV Q1’27 EARNINGS HIGHLIGHTS
Revenue: $480.5M (Est. $456M) ; +6% YoY
Adj. EPS: $0.59 (Est. $0.25) ; +84% YoY
Oper Income: -$10.9M (Est. -$31M) ; improved from -$69.3M YoY
Funded Backlog: $1.5B; +37% YoY
Affirms FY27 Guide:
Revenue:… pic.twitter.com/3eY0l7bass
— Wall St Engine (@wallstengine) September 9, 2026
The company’s backlog expanded to $1.5 billion, increasing from $1.2 billion at the conclusion of April. This metric serves as a valuable indicator of sustained customer demand for the company’s unmanned aircraft systems and related products.
Company leadership maintained their full-year fiscal 2027 revenue projection of $2.18 billion at the midpoint, alongside adjusted EPS guidance of $3.18. The EBITDA outlook of $315 million came in marginally below the Street’s $318.2 million expectation.
Shares had faced significant headwinds entering this earnings release. AVAV had declined approximately 40% year to date and experienced a similar drop since the outbreak of the Iran War, making this quarterly report particularly crucial for investor confidence.
Understanding the Stock’s Recent Weakness
The broader defense sector has experienced selling pressure since the conflict commenced, with market participants expressing concern that political divisions in Congress following midterm elections might result in budget impasses.
Beyond sector-wide challenges, AeroVironment confronted company-specific obstacles. This past March, federal authorities terminated an approximately $1 billion contract for the manufacturer’s BADGER phased-array antenna systems, citing the Space Force’s determination that commercially available alternatives would prove more cost-effective.
The contract cancellation substantially impacted share performance. The stock’s valuation multiple contracted from approximately 90 times forward earnings in early 2026 to roughly 39 times currently. Despite this compression, analysts project earnings growth of nearly 39% annually over the coming years.
Top-Line Growth Continues to Impress
Over the past five-year period, AeroVironment has expanded revenue at a 37.4% compound annual growth rate. This expansion has gained momentum recently, with annualized revenue growth reaching 63% over the past two years.
The products segment, encompassing aircraft, missile systems, and satellite technologies, has delivered average year-over-year growth of 65.4% across the last two years. The services division, which includes maintenance, training, and consulting offerings, demonstrated even more impressive growth of 195% on average during the same timeframe.
Going forward, Wall Street analysts project revenue expansion of 13.9% over the next twelve months. While this represents a deceleration from recent performance levels, it nonetheless indicates expectations for sustained business momentum.
AVAV shares historically demonstrate significant volatility following earnings announcements. The stock rallied approximately 19% after releasing Q4 fiscal 2026 results in June, while experiencing a 6% decline following the Q3 report in March.
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TLDR
Shares of Cloudflare experienced a remarkable 10%+ surge on September 9, fueled by Meta’s introduction of the Muse AI agent
The Muse platform is projected to substantially boost agentic web traffic, creating significant opportunities for Cloudflare’s edge network
On September 3, Cloudflare unveiled an AI-enhanced security solution powered by OpenAI’s GPT-5.6 Cyber model
Second quarter revenue reached $696.1 million, representing 35.9% growth compared to the prior year, while adjusted EPS of $0.29 exceeded expectations
The company increased its full-year financial outlook based on robust quarterly performance
Cloudflare (NET) shares experienced a powerful rally on September 9, climbing more than 10% to reach $314.18. Market participants viewed the company as a primary beneficiary following Meta Platforms’ introduction of its Muse personalized AI agent.
On September 8, Meta CEO Mark Zuckerberg unveiled Muse, an AI agent engineered to handle routine consumer tasks securely within an isolated Linux environment featuring dedicated browser access, CPU allocation, memory resources, and storage capacity.
With Meta’s ecosystem reaching 3.6 billion daily active users, even modest adoption rates for Muse could generate substantial increases in web traffic. Cloudflare’s infrastructure is strategically positioned to capture this expanding demand.
The company maintains distributed edge infrastructure that handles routing, security, and optimization for web traffic globally. An uptick in agentic activity translates directly into heightened demand for Cloudflare’s core services.
The partnership between these tech giants has precedent. In 2025, Meta integrated its Llama open-source model with Cloudflare’s Workers AI platform to enable localized AI inference capabilities.
During the previous quarter’s earnings call, Cloudflare CEO Matthew Prince revealed a significant milestone: non-human, agentic traffic accounted for more than 50% of network activity for the first time ever. This percentage appears poised for further expansion.
Additionally, Cloudflare recently introduced Wallet, a solution designed to facilitate secure commercial transactions between AI agents and merchants. Muse is anticipated to leverage this functionality.
OpenAI Partnership Adds Another Catalyst
Beyond the Muse-driven momentum, Cloudflare gained additional tailwinds this week. The company announced on September 3 the launch of “Vulnerability Discovery and Remediation,” an advanced feature within its Managed Defense offering.
This innovation harnesses OpenAI’s GPT-5.6 Cyber model to autonomously identify, verify, and recommend solutions for software vulnerabilities. The system performs codebase analysis while incorporating real-time traffic intelligence from Cloudflare’s worldwide network, enabling automated deployment of custom firewall rules and generation of code patches for development teams.
Strong Financials Back the Momentum
Cloudflare’s second quarter performance reinforced investor optimism. The company generated $696.1 million in revenue, marking a 35.9% year-over-year increase. Adjusted earnings per share of $0.29 surpassed analyst projections. Billings expanded 34.8% to reach $753.5 million.
While GAAP operating margins faced headwinds from a non-recurring impairment charge, the underlying business demonstrated strong momentum.
Following these impressive results, management upgraded its full-year revenue and adjusted EPS projections.
Year-to-date, the stock has appreciated 59.1% and approached its 52-week peak of $332.22 prior to the trading session.
Trading at approximately 40 times sales and 114 times forward earnings, the valuation remains elevated. However, Cloudflare has historically commanded premium multiples throughout its tenure as a publicly-traded entity.
While Cloudflare has recorded 35 moves exceeding 5% over the past year, a single-day gain of 10% represents an exceptional occurrence even for this volatile stock.
With shares priced at $314.18, the stock is hovering near its 52-week high of $332.22.
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Key Takeaways
Brent crude surpassed $100 per barrel for the first time since late July following escalating U.S.-Iran military confrontations
Five Iranian oil tankers were reportedly sunk by U.S. forces; Iran retaliated by striking 10 vessels near the Strait of Hormuz
Oil transit through the Strait of Hormuz has plummeted to under 2 million barrels daily, down from 8-9 million bpd prior to renewed hostilities
Houthi forces from Yemen targeted Saudi Arabian energy facilities this week, hitting the Jizan refinery among other installations
International energy stockpiles declined by 69 million barrels during July, while the IEA documented 8.3 million bpd of Middle Eastern production shutdowns
Brent crude surged past the $100 per barrel threshold on Wednesday following intensified military exchanges between U.S. and Iranian forces, heightening concerns over sustained oil supply constraints. West Texas Intermediate followed suit, climbing to approximately $96 per barrel.
Brent Crude Oil Last Day Financial Futures (BZ=F)
The most recent escalation involved Iranian attacks on 10 vessels operating in and around the strategic Strait of Hormuz. U.S. military forces retaliated by destroying five Iranian oil tankers operating in Persian Gulf waters. Iran subsequently launched strikes against a U.S. military installation in Jordan.
Oil transportation through the Strait of Hormuz has experienced a dramatic collapse. Prior to the resumption of military operations, daily crude shipments averaged between 8 and 9 million barrels. Current volumes have contracted to less than 2 million barrels per day, based on Rystad Energy statistics reported by Reuters.
JUST IN: Trump says gasoline will fall BELOW $2 a gallon "right after the election" as oil trades above $100.
"Oil prices are going to be tumbling downward."
"For gasoline, we'll get 'em below $2 a gallon."
Gas is currently $4.22 a gallon, with diesel at a record $5.94, per… pic.twitter.com/9qkXWE8fSR
— Coin Bureau (@coinbureau) September 10, 2026
Maritime tracking company Kpler reports that zero very large crude carriers have successfully transited the strait since September 2.
Alternative Supply Corridors Face Mounting Threats
Several Middle Eastern oil producers have redirected crude shipments through pipeline infrastructure to export terminals beyond the Hormuz chokepoint. The United Arab Emirates has activated a pipeline route to Fujairah port. Iraqi crude now flows through pipeline networks to Turkish ports. Saudi Arabia has reversed its East-West pipeline flows to access the Red Sea terminal at Yanbu.
These backup transportation routes now face their own security challenges. Iran-backed Houthi militants operating from Yemen launched attacks against Saudi energy infrastructure during the past week. The most recent assault targeted the Jizan refinery complex. Additional refining facilities across the Arabian Peninsula have similarly experienced attacks.
Energy analysts at ANZ stated in a research brief that the ongoing cycle of retaliatory strikes indicates Persian Gulf oil shipments will likely face continued disruption for an extended period.
Global Stockpiles Declining as Conflict Continues
The International Energy Agency’s most recent monthly assessment indicated that 8.3 million barrels per day of Middle Eastern crude production remained offline through July. Worldwide petroleum inventories contracted by 69 million barrels during the same timeframe, representing an average daily withdrawal of 2.7 million barrels.
Multiple physical crude pricing benchmarks have already exceeded $100. Murban crude, DME Oman, the OPEC reference basket, and the Indian crude basket are all currently trading above this threshold. Brent futures contracts have now crossed into triple-digit territory as well.
President Trump informed the media on Wednesday that the military conflict would conclude following November’s midterm elections. Conversely, a Wall Street Journal investigation revealed that Trump’s senior advisers have cautioned the confrontation may persist throughout the remainder of his presidential term.
No active peace discussions between Washington and Tehran have been reported. Crude oil consumption traditionally increases during the year’s fourth quarter, potentially driving prices even higher if supply constraints persist.
Brent crude was valued at $101.22 per barrel during Thursday morning trading sessions.
The post Oil Prices Breach $100 Mark as Middle East Tensions Escalate Supply Crisis appeared first on Blockonomi.

Key Takeaways
Electronics retailer delivered 7% group like-for-like revenue growth over 17 weeks ending August 29
UK and Ireland division achieved 6% growth, while Nordic operations surged 9%, with market share expanding across key product lines
Management reaffirmed full-year outlook, stating comfort with existing market consensus forecasts
Shares dropped 1.3% during early London session despite positive trading performance
Both Panmure Liberum and Peel Hunt reaffirmed Buy recommendations, targeting 200p and 182p per share
Shares of Currys (CURY) declined 1.3% during Wednesday’s early trading session in London, settling at 146.40p, despite the electronics and appliance retailer unveiling robust trading figures that showed 7% group like-for-like sales advancement for the 17-week period concluding August 29.
The company’s UK and Ireland operations generated 6% like-for-like expansion, while its Nordic territories demonstrated even more impressive momentum with 9% growth. Leadership indicated satisfaction with prevailing market expectations and maintained existing full-year projections without adjustment.
Across the UK and Ireland, expansion was evident in both physical retail locations and digital channels. Emerging product categories and corporate sales channels registered double-digit percentage increases. The retailer also highlighted competitive position improvements across all primary product segments, despite an overall stagnant market environment.
The company attributed approximately 2 percentage points of market uplift to the World Cup tournament and unseasonably warm summer weather conditions.
Subscription-based Services revenue maintained its upward trajectory. Flexpay penetration increased by 30 basis points compared to the prior year, reaching 23.6%, while iD Mobile customer base expanded 16% to exceed 2.7 million subscribers.
Nordic performance was powered by white goods and mobile phone categories, with widespread momentum across both retail formats. The region also captured market share in most territories, although year-over-year comparisons were relatively easy.
Management characterized gross margin performance as steady in both geographic segments, underpinned by disciplined expense management.
Share Repurchase Update and Financial Position
Currys verified that its £50 million share repurchase program is progressing, with £23 million executed to date. The retailer now anticipates year-end net cash substantially exceeding its £100 million benchmark.
Management outlined objectives for sustained expansion in higher-margin recurring Services operations, establishing a target of reaching a minimum of 2.8 million iD Mobile customers by fiscal year-end.
Wall Street and City Analyst Perspectives
Citi analysts anticipated a “materially positive share price reaction” following the announcement, pointing to robust trading metrics and confirmed guidance. The investment bank noted that shares had underperformed leading up to the release, which it viewed as a potential catalyst for recovery.
Panmure Liberum, serving as the company’s corporate broker, maintained its Buy stance with a 200p price objective. Analysts highlighted that the encouraging year opening established “meaningful upgrade potential” given the organization’s substantial operational leverage.
The brokerage calculated that each one percentage point improvement in like-for-like revenues across UK, Ireland and Nordic markets contributes approximately £12.5 million to consolidated profit, representing roughly 6.5% of fiscal 2026 adjusted pre-tax earnings.
Peel Hunt similarly preserved its Buy recommendation, maintaining a 182p target. The firm indicated expectations to implement an earnings forecast revision ranging from 1% to 3% upward.
Peel Hunt emphasized caution by noting that the initial half of the fiscal year conventionally represents merely 10% to 15% of annual profitability. Consequently, a successful peak holiday shopping period will prove essential before analysts embrace more substantial estimate increases.
From a valuation perspective, the equity trades at below 10 times projected earnings. Panmure Liberum calculated the 2027 price-to-earnings ratio at 10.3 times.
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Key Takeaways
Q4 like-for-like sales at Primark projected to decline 3%, with continental European markets falling 4.3%
Shares of ABF plummeted more than 9% during early Thursday trading in London
Sugar division adjusted operating loss forecast widened to £70 million to £170 million for 2027
Full-year adjusted earnings per share anticipated to exceed prior forecasts
Primark’s Great Britain home delivery service announced, while planned separation of Retail and Food divisions proceeds toward December 2027 target
Associated British Foods stock plummeted over 9% during Thursday’s early London trading session following a quarterly trading statement indicating Primark’s like-for-like sales are projected to decline 3% in the period concluding September 12.
Shares were changing hands around 1,854p, significantly beneath the 52-week peak of 2,351p.
The performance weakness was primarily concentrated across continental European markets, which registered a 4.3% LFL sales contraction. While the UK and Ireland delivered a marginal 0.4% increase, this growth proved insufficient to counterbalance the wider European downturn.
Analysts at Jefferies offered a blunt assessment, characterizing the performance as “a muted end to the year for Primark led by underwhelming Europe sales” and labeling the company’s forward guidance as “a downbeat outlook for the stock this morning.”
Notwithstanding the LFL contraction, Primark’s overall sales are anticipated to expand approximately 2% across the full fiscal year. Store expansion initiatives and the franchise business model delivered roughly 5% to overall growth. Primark’s adjusted operating margin is still projected to reach approximately 10%.
The U.S. market delivered positive momentum. Revenue increased approximately 11% during the quarter as Primark’s American footprint expanded to 47 locations nationwide. Franchise operations throughout the Gulf region also demonstrated robust performance, with expansion initiatives planned for Saudi Arabia and Mexico.
Food Division Compounds Challenges
Across the Food division, Grocery adjusted operating profit is anticipated to fall marginally short of earlier projections. Subdued consumer demand for Twinings tea products, attributed to an unusually prolonged period of warm weather, was identified as the principal factor.
The Sugar segment is now tracking toward the upper boundary of its £25 million to £60 million adjusted operating loss projection for 2026, driven by elevated natural gas expenses and depressed European sugar market prices. The Ingredients division’s profit is anticipated to align with previous forecasts.
Extending the outlook window, ABF provided preliminary guidance for 2027 that struck a cautious tone. The Sugar division’s adjusted operating loss is projected at £70 million to £170 million, representing a considerably broader range that accounts for potential headwinds including elevated gas costs and adverse weather conditions affecting African operations.
Grocery profitability is forecast to edge slightly above 2026 levels, notwithstanding a one-time impact associated with consolidating the recently acquired Hovis business. The Agriculture division’s profit is expected to show year-over-year improvement.
Broader Market Context
ABF’s stock wasn’t alone in facing selling pressure Thursday. The FTSE 100 index dropped to its lowest level in seven weeks as intensifying tensions between the United States and Iran pushed Brent crude pricing above $100 per barrel, creating broader market headwinds that compounded ABF’s company-specific challenges.
Full-year adjusted earnings per share is now forecast to surpass earlier guidance, providing a modest counterbalance to the otherwise pessimistic update.
The company officially confirmed plans to roll out Primark home delivery services throughout Great Britain, supported by a recently acquired automated fulfillment center in Sheffield.
The anticipated separation of the Retail business from the Food division continues to progress according to schedule, with completion targeted for December 2027.
Complete annual results are slated for release on November 3.
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Key Highlights
Taiwan Semiconductor achieved record August sales of T$514.8 billion ($16.35 billion), representing a 53.3% annual increase
Monthly revenue jumped 10.1% compared to July, extending the growth streak to four consecutive months
Eight-month cumulative revenue reached T$3.38 trillion, demonstrating 39.3% growth versus prior year
The foundry giant commands 72.5% of the worldwide contract chipmaking market as of second quarter, according to TrendForce
TSMC announced plans to implement ASML’s High NA manufacturing technology for high-volume production beginning in 2030
Taiwan Semiconductor Manufacturing Company announced unprecedented monthly sales figures for August, propelled by relentless demand for semiconductors powering artificial intelligence systems.
$TSM reported Aug. revenue of $16.3B, up 53.3% YoY
TSMC says it still can’t meet demand even while working on roughly 20 fabs simultaneously, around 4-5x its historical pace, with chipmaking tool needs nearly doubling since the end of last year. pic.twitter.com/HwvzcmUUVW
— Wall St Engine (@wallstengine) September 10, 2026
The planet’s premier contract semiconductor manufacturer delivered revenue of T$514.8 billion ($16.35 billion) during August, representing a 53.3% surge compared to the equivalent period last year. Sales additionally increased 10.1% versus the previous month.
TSM shares finished Thursday’s trading session down 0.61% prior to the revenue announcement.
The results represent the fourth straight month where the Taiwan-based semiconductor producer has registered sequential revenue expansion.
Cumulative revenue for the first eight months of the year totaled T$3.38 trillion, reflecting 39.3% growth when measured against the corresponding timeframe in 2025.
Artificial Intelligence Applications Drive Full Capacity Utilization
Strong customer appetite for TSMC’s cutting-edge manufacturing nodes has served as the primary catalyst. Production capacity for the company’s 5-nanometer, 4-nanometer, and 3-nanometer processes operated at maximum utilization throughout the second quarter, based on data from research organization TrendForce.
In its July quarterly results presentation, Taiwan Semiconductor characterized AI-driven demand as “extremely robust.” The semiconductor manufacturer disclosed a 77% year-over-year profit increase for Q2 and projected third-quarter sales ranging from $44.6 billion to $45.8 billion.
The chipmaker’s leading-edge manufacturing capabilities remain highly sought after largely due to its position as a principal supplier to Nvidia, which continues accelerating production volumes of its artificial intelligence chips.
Robust market conditions have enabled Taiwan Semiconductor to implement price increases for its contract manufacturing services while simultaneously pursuing aggressive capacity expansion initiatives.
TSMC’s share price has doubled during the trailing twelve-month period and has multiplied sixfold since the end of 2022.
Commanding Position in Worldwide Foundry Industry
Taiwan Semiconductor captured 72.5% of global foundry market share during the second quarter, based on TrendForce analysis. Samsung Foundry secured the second position with 5.9%, while China-based SMIC claimed 5.4%.
The industry’s leading ten foundry operators collectively generated record quarterly revenue approaching $53.49 billion in Q2, partially attributed to constrained supply availability for advanced manufacturing processes linked to AI applications and high-performance computing requirements.
Earlier this week, Taiwan Semiconductor and Netherlands-based semiconductor equipment manufacturer ASML unveiled a collaborative effort to develop next-generation chipmaking capabilities. TSMC confirmed its intention to deploy ASML’s High NA technology for volume production of advanced nodes commencing in 2030.
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TLDR
NVIDIA and Palantir launch an AI system for complex global supply chain operations.
The partnership starts with NVIDIA’s own manufacturing and logistics network.
Palantir Foundry will integrate NVIDIA models for faster supply chain decisions.
The system targets shortages, allocation choices, and production bottlenecks.
Companies can deploy the platform on premises, in the cloud, or co-location.
NVIDIA and Palantir have partnered to improve global supply chain management using enterprise artificial intelligence systems. The companies will begin the collaboration with NVIDIA’s own operations before expanding the technology across other industries. Meanwhile, NVIDIA stock traded at $223.37, down 0.14% in Thursday pre-market trading.
NVIDIA Corporation, NVDA
NVIDIA and Palantir Build Supply Chain System
Palantir will integrate NVIDIA Nemotron models with its Foundry and Artificial Intelligence Platform for supply chain operations. The system will combine operational data with Palantir’s Ontology to improve visibility across manufacturing and logistics networks. Consequently, teams can identify production constraints and make faster allocation decisions across complex supply chains.
NVIDIA manages millions of parts, thousands of suppliers, and manufacturing partners across several global markets. Its infrastructure requires coordinated supplies of computing components, memory, networking equipment, cooling systems, power, and mechanical parts. Therefore, the partnership targets one of NVIDIA’s most complicated operational challenges as demand for computing infrastructure continues growing.
The companies will initially focus on materials allocation and production planning across NVIDIA’s supply network. Teams can use the system to identify shortages earlier and compare alternative production decisions more efficiently. Moreover, the platform can connect allocation choices with their wider effects across production and delivery operations.
NVIDIA Uses Custom Models for Operational Decisions
Companies using Palantir can customize NVIDIA models with their own operational information through Foundry and AIP. Businesses can then create systems that reflect their suppliers, production limits, delivery requirements, and internal decision processes. This approach also allows companies to maintain control over their operational data and deployment environments.
NVIDIA cuOpt software will support optimization and scenario planning within the Palantir platform. Teams can model supply restrictions, compare allocation choices, and measure potential effects across different production stages. Meanwhile, specialized models can recommend actions and identify emerging operational risks before teams make final decisions.
The system can also learn from previous recommendations and completed production outcomes. Palantir Autopilot will connect operational feedback with NVIDIA model development tools to support continued improvements. As a result, companies can preserve operational knowledge while measuring decisions against actual supply chain performance.
Partnership Targets Wider Enterprise Supply Chains
NVIDIA and Palantir plan to apply lessons from the initial deployment across several major industries. Manufacturing, healthcare, energy, automotive, aerospace, agriculture, pharmaceuticals, retail, and government organizations could adopt similar systems. These deployments could help companies connect fragmented data and improve responses to supply disruptions.
The companies designed the infrastructure to support organizations that require tighter control over sensitive business information. NVIDIA reference architectures will support deployments alongside Palantir’s sovereign enterprise infrastructure framework. Dell Technologies and Cisco also support the architecture for enterprise environments requiring locally controlled infrastructure.
Companies can deploy the system through on-premises infrastructure, cloud platforms, or co-location environments depending on operational requirements. Cisco and Dell can support local deployments, while Rackspace and Nebius can provide external infrastructure options. Therefore, the partnership gives enterprises several deployment choices while keeping supply chain data within their preferred operating environments.

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TLDR
Vitalik Buterin is backing EIP-8288 for Ethereum’s next upgrade, called I-Star.
The proposal uses recursive STARK aggregation to bundle cryptographic proofs together.
Quantum-safe private transactions could drop from millions of gas to tens of thousands.
The Ethereum Foundation is targeting full quantum resistance by December 2029.
EIP-8288 is still a draft and has not been added to Ethereum’s live protocol.
Ethereum co-founder Vitalik Buterin has thrown his support behind a new proposal called EIP-8288. He wants it included in Ethereum’s next major upgrade, known as I-Star.
Buterin shared his support in a post on X. He said he hopes EIP-8288 can be included in I-Star, the fork that follows Hegota.
A note on recursive STARK mempools (EIP-8288) https://t.co/KGUHKCcFqf
This is an EIP that I am hoping we can get included in I-star (the fork after Hegota) that you can think of as the next step after Frames, that would unlock extreme amounts of power. Particularly:
*…
— vitalik.eth (@VitalikButerin) September 9, 2026
He described the proposal as the next logical step after Frames, an earlier upgrade concept. The comment gave fresh attention to a proposal that had been sitting in draft form.
The timing lines up with a broader push at the Ethereum Foundation. On September 7, the Foundation said it is aiming for quantum resistance across Ethereum’s execution, consensus, and data layers by December 2029.
The Foundation called this deadline non-negotiable, at least until January 2027. That language signals how seriously the organization is treating the quantum computing threat.
Quantum computers do not exist yet at the scale needed to break current cryptography. But Ethereum developers want protections in place before that changes.
How Recursive STARKs Would Cut Costs
EIP-8288 proposes a system where transactions use lightweight dependency frames. These frames carry information about signatures or proofs instead of the full cryptographic data.
Rather than verifying each cryptographic object one by one on-chain, Ethereum’s mempool could bundle these dependencies into a single recursive STARK. This means one proof would represent many transactions at once.
Buterin argues this could sharply lower the cost of quantum-safe applications. Quantum-safe private transactions, which currently cost around 10 million gas, could potentially fall to the low tens of thousands.
The proposal could also let new signature and proof schemes work on Ethereum without needing separate changes to the Ethereum Virtual Machine for each one. That would make it easier to add new cryptographic tools over time.
Changes to Ethereum’s Mempool
Under the proposed design, mempool nodes would collect transaction dependencies and generate recursive STARK proofs. A block builder would then create one proof that covers every dependency for the transactions included in that block.
The EIP text states that a block would contain a single recursive STARK proving those dependencies exist. This replaces a system where all user-submitted signatures and STARKs are stored directly in the block.
The proposal also outlines dependency data using 96-byte statements. These statements connect to a recursive STARK generated at the block level.
This structure is meant to keep block sizes smaller while still supporting quantum-resistant cryptography. It shifts heavy verification work away from individual transactions.
EIP-8288 remains in draft stage. It has not been implemented in Ethereum’s live protocol, and no date has been set for that to happen.
Its future depends on more research, testing, and whether developers agree to include it in I-Star or a later upgrade. The Ethereum Foundation’s quantum resistance timeline gives the proposal a broader deadline to work toward, but EIP-8288 itself has not been finalized or scheduled.
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TLDR
Crypto perpetual contracts implied a $2.12 trillion valuation for the private AI company Anthropic on September 9.
Binance’s ANTHROPIC/USDT contract uses an assumed 1 billion share count to calculate that figure.
Anthropic’s last private funding round, closed in May, valued the company at $965 billion.
Anthropic has warned that unauthorized investment structures, including SPVs, may leave investors with nothing.
OpenAI’s pre-IPO contracts implied a valuation near $1.58 trillion on the same day.
Anthropic has no public stock. It hasn’t filed for an IPO. Yet on September 9, crypto traders pushed the implied value of the Claude maker past $2 trillion through a type of contract called a pre-IPO perpetual.
Data from Defillama showed Binance’s ANTHROPIC/USDT contract trading near $2,120. Binance calculates the company’s implied worth by multiplying that price by an assumed 1 billion shares outstanding.
That math produces a figure of roughly $2.12 trillion. Similar contracts on Bitget, Kraken, BingX, Aster, and Coinbase International traded in the same range.
These contracts settle in tether, not company shares. They let traders bet on where Anthropic might eventually be valued, without giving anyone actual ownership.
How the Number Compares to Reality
The $2.12 trillion figure is more than double Anthropic’s last negotiated private valuation. Investors valued the company at $965 billion after a $65 billion Series H round closed on May 28.
Prices have swung a lot since then. In late August, the same Binance contract traded between $1,600 and $1,840, implying $1.6 trillion to $1.84 trillion in value.
A separate market on Hyperliquid briefly topped $2 trillion in late August before settling near $1.97 trillion. OKX runs a similar contract using a 10 billion share assumption, which produces a lower price per unit but a similar overall company value.
None of these numbers come from Anthropic. Binance states the share estimate is informational only and not endorsed by the company.
Anthropic Pushes Back on Token Structures
A separate product called Prestocks issues an ANTHROPIC token on Solana through a special-purpose vehicle, or SPV. On September 9, the token traded between $961 and $973, with an implied valuation near $1.59 trillion.
Anthropic has objected to this setup. In May, the company said it does not allow SPVs to acquire its stock and that any transfers into one are void.
Anthropic added that tokenized securities and forward contracts tied to its shares may carry no real value. Prestocks tokens dropped between 34% and 45% after that statement.
Traders still have reasons to watch the numbers closely. Anthropic’s valuation rose from $380 billion in February to $965 billion in May.
The company’s annualized revenue run-rate was reported near $47 billion at the Series H close. That figure reportedly grew to around $65 billion by the end of July.
Bankers and investors have discussed a future listing somewhere between $1.5 trillion and $2 trillion. Trading volume on these contracts remains small, with combined open interest across the largest markets only in the tens of millions of dollars.
OpenAI faces a similar situation. Its OPENAI/USDT contract traded around $1,578 on Binance on September 9, while Kraken showed a price of $1,604.
Binance says it will adjust the ANTHROPIC contract if Anthropic’s eventual S-1 filing shows a share count that differs from its estimate by 3% or more. Until Anthropic actually goes public, the $2 trillion figure remains a crypto market bet rather than a price the company has confirmed.
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TLDR
Wintermute received 2.5 million LAPTOP tokens from the token team.
The firm sold 466,255 tokens for about $2.08 million at an average price of $4.47.
The sale equals roughly 18.7% of Wintermute’s reported allocation.
LAPTOP launched September 9 on Coinbase’s Base network.
Wintermute still holds about 2.03 million tokens after the sale.
Wintermute has sold a portion of its LAPTOP token holdings on-chain, according to blockchain analytics firm Lookonchain. The sale has drawn attention because it involves a large market-making allocation tied to a newly launched meme coin.
Lookonchain reported that Wintermute received 2.5 million LAPTOP tokens directly from the token team. The firm then began selling a portion of those tokens on the open market.
As of the latest data, Wintermute has sold 466,255 LAPTOP tokens. The sale brought in approximately $2.08 million at an average price of $4.47 per token.
That amount equals roughly 18.7% of Wintermute’s total reported allocation. The firm still holds about 2.03 million LAPTOP tokens.
The data comes from on-chain tracking tools including Arkham, which monitors wallet activity across public blockchains. These figures confirm the sales took place but do not reveal Wintermute’s full trading strategy.
How LAPTOP Launched
LAPTOP launched on September 9 on Base, the blockchain network built by Coinbase. The launch was first reported by The Wall Street Journal.
The token carries a total supply of one billion. According to the report, 30% of the supply was set aside for founders.
Another 20% was allocated to people affected by failed meme coins and followers of the project. The remaining tokens were split between liquidity, charity and administrative costs.
Base describes itself as an open and permissionless blockchain. Tokens and applications built on the network operate independently from Coinbase.
This means LAPTOP’s presence on Base is not an endorsement from Coinbase. The token’s political branding has also made public sentiment a bigger price driver than typical project fundamentals.
What the Sale Means for Holders
Market makers like Wintermute often receive token allocations to support liquidity. Selling tokens does not automatically signal a negative view of a project.
Lookonchain also reported that Wintermute may not be the only market maker involved. GSR Markets and G20 were named as other possible participants supporting the token.
Still, confirmed sales can add pressure to a token’s price when liquidity is limited. This is especially true in the days right after a launch.
Wintermute’s remaining 2.03 million tokens represent a possible future supply overhang. If demand slows while more tokens enter circulation, the price could face added pressure.
A single wallet transfer does not prove every token will be sold immediately. Market makers often hold inventory for hedging or trade execution rather than pure selling.
Traders watching LAPTOP will likely track further wallet movement in the coming days. Additional transfers from Wintermute or other allocated wallets could offer more clues about supply trends.
As of the latest report, Wintermute’s confirmed sale stands at 466,255 LAPTOP tokens worth about $2.08 million, with roughly 2.03 million tokens still held by the firm.
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Key Takeaways
European equity markets traded sideways Thursday following a 1.4% decline in the previous session
Market consensus points to a 25 basis point ECB rate increase, pushing the key rate to 2.5%
Brent crude oil remained above the $100 threshold, intensifying inflation concerns
Associated British Foods shares plummeted nearly 12% following disappointing Primark performance
Critical U.S. inflation reports scheduled for Thursday and Friday may influence Federal Reserve policy outlook
European shares consolidated on Thursday following their steepest decline in eight weeks. Market participants positioned themselves ahead of the European Central Bank’s monetary policy announcement scheduled for later in the trading session.
The benchmark STOXX 600 index hovered around 639.79 points with minimal movement. The previous day saw the index retreat 1.4% amid a rally in crude oil prices.
EURO STOXX 50 I (^STOXX50E)
Brent crude futures broke through the $100 per barrel threshold for the first time since July. The energy price surge reignited worries about persistent inflation and prompted market participants to reconsider the duration of restrictive monetary policy from major central banks.
Analysts anticipated the ECB would implement a 25 basis point increase to its benchmark interest rate, elevating it to 2.5%. The policy statement was scheduled for release at 12:15 GMT, with ECB President Christine Lagarde’s press briefing following at 12:45 GMT.
Investors were particularly focused on Lagarde’s forward guidance regarding the inflation trajectory. The critical consideration was whether central bank officials would indicate additional rate increases or adopt a more cautious, data-dependent posture.
“The forward guidance will be under the microscope, specifically whether the ECB adopts a wait-and-see approach or leaves the door open for another increase,” commented Susannah Streeter, chief investment strategist at Wealth Club in London.
Interest rate derivatives suggested market expectations of one additional rate increase before year-end and potentially one to two further moves in 2027.
Energy and Financial Sectors Lead Gains
The European energy index advanced 0.3%, benefiting from sustained elevated crude prices. Escalating tensions between Iran and the United States, marked by their most significant shipping attacks in six months of hostilities, contributed to upward pressure on oil markets.
Banking stocks delivered solid performance. Societe Generale climbed approximately 1.6%, Deutsche Bank advanced 1.3%, while Banco Santander posted a 0.7% gain.
Technology and Retail Stocks Face Headwinds
The technology sector encountered selling pressure. ASML declined 1.1% while SAP retreated approximately 3%, ranking among the session’s notable underperformers.
Associated British Foods emerged as the day’s most significant decliner. The company’s stock plunged nearly 12%, heading toward its worst single-session performance since January. The sharp selloff followed disappointing sales figures from Primark, its discount fashion retail division.
D’Ieteren ranked among the STOXX 600’s top performers, surging nearly 5%. The Belgian holding company disclosed improved first-half earnings and announced the appointment of a new chief executive officer.
German inflation figures registered 2.9% for August, matching economist expectations.
U.S. producer price index data was scheduled for release Thursday, followed by consumer price data on Friday. Market pricing reflected a 62% probability of a 25 basis point rate hike from the Federal Reserve at its September 15-16 policy meeting.
The ECB’s rate announcement and Lagarde’s subsequent commentary remained the primary catalyst for European markets throughout the trading day.
The post ECB Interest Rate Announcement: Impact on European Stock Markets appeared first on Blockonomi.

TLDR
Block has applied to the OCC to charter Builders Bank & Trust, a national trust bank focused on digital asset custody.
The proposed bank would hold Bitcoin and stablecoins for customers under federal oversight.
Builders Bank would not accept deposits and would not carry FDIC insurance.
Lee Woolley, Block’s digital assets strategy head, is expected to lead the bank if it gets approved.
A national charter would give Block one federal framework instead of separate state rules.
Block, the fintech company started by Jack Dorsey and Jim McKelvey, has asked the Office of the Comptroller of the Currency for permission to open a new bank. The bank would be called Builders Bank & Trust, N.A.
The goal of the new bank is narrow. It would focus on custody and fiduciary services for digital assets rather than everyday banking.
Block filed its application with the OCC to get this process started. If approved, the bank would operate under a national trust bank charter.
That kind of charter matters because it sets one federal standard for the bank’s operations. Block would not need to follow a patchwork of different state rules.
What Builders Bank Would Do
Builders Bank would center on custody services for digital assets like Bitcoin and stablecoins. Custody means holding and safeguarding these assets on behalf of clients.
This service can be useful for firms or individuals who want a regulated place to store cryptocurrency. Block has said the bank would be a non-bank institution.
That means Builders Bank would not accept customer deposits. It also would not offer FDIC insured accounts like a traditional bank.
Instead, its work would be limited to custody, fiduciary duties, and other trust related activities allowed under its charter. This sets it apart from a regular commercial bank.
Who Would Lead the Bank
Lee Woolley is expected to lead Builders Bank if the OCC approves the plan. Woolley currently serves as Block’s head of digital assets strategy.
He has more than twenty years of experience in banking and financial services. Block believes this background fits well with the goals of the new bank.
Woolley pointed to Block’s experience in digital assets and its work through Square Financial Services. He said this combination gives Builders Bank a strong foundation.
He also said the bank is meant to support Block’s broader plans in the digital asset space.
Block already has some experience working in regulated finance. The company operates Square Financial Services, which has given it exposure to banking rules and oversight.
At the same time, Block has kept building out its digital asset work. Bitcoin remains a central part of the company’s crypto strategy.
Stablecoins have also drawn more attention across the financial industry. Many firms see them as useful tools for payments and settlement on blockchain networks.
A national trust charter would let Block expand its custody services under one regulator. This could support the company’s larger digital asset plans going forward.
The application is now in the hands of the OCC. Regulators will review whether Builders Bank meets the requirements for a national trust bank charter.
Builders Bank would remain different from a standard bank throughout this process. It would not take deposits or offer deposit insurance under the current proposal.
Its permitted activities would stay limited to custody, fiduciary work, and related trust services. No timeline has been given for when the OCC will make its decision.
The application marks the most recent step in Block’s push into regulated digital asset services, with final approval still pending from the OCC.
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TLDR
A federal jury convicted Jihoon Park, 52, of Chantilly, Virginia, on three counts of wire fraud and two counts of bankruptcy fraud.
Park stole more than $2.5 million from investors who trusted him with their savings and retirement money.
He used stolen funds to buy a house and cryptocurrency for himself.
Park later hid his crypto holdings and claimed only $0.34 in assets during bankruptcy proceedings.
He is scheduled to be sentenced on December 10, 2026, and faces up to 20 years in prison.
A federal jury in Alexandria, Virginia convicted Jihoon Park on September 8 for running a fraud scheme against investors and a U.S. Bankruptcy Court. Park, 52, is from Chantilly, Virginia.
Prosecutors said Park convinced people in his community to hand over their money for investing. He used personal relationships and his past ties to a large national financial institution to build trust with victims.
Park told investors their money would be safe and would earn high returns. According to the Justice Department, none of that was true.
Instead, Park took more than $2.5 million from multiple victims and used it for himself. He spent the stolen funds on a house and on cryptocurrency purchases.
Assistant Attorney General A. Tysen Duva said Park’s actions caused financial harm to families who trusted him with their life savings and retirement funds.
How the Fraud Was Uncovered
The scheme started to unravel after one victim filed a lawsuit against Park. In response, Park moved assets to his wife’s name.
He also hid millions of dollars worth of cryptocurrency before filing for bankruptcy protection. Prosecutors said this was done to avoid repaying the people he had defrauded.
When Park filed his bankruptcy paperwork, he claimed to have only $0.34 in financial assets. He also denied owning any cryptocurrency at all.
Court records show that one investor gave Park a $300,000 check in August 2024. The next month, Park bought a house in Chantilly for about $1.2 million, using a $700,000 down payment that included part of that investor’s money.
Court Proceedings and Sentencing
Park’s Chapter 7 bankruptcy case began in January 2025 in the Eastern District of Virginia. A bankruptcy trustee later tried to recover the down payment or reverse the property transfer.
The investor who gave Park the $300,000 also tried to claim an interest in the house. Chief U.S. Bankruptcy Judge Brian F. Kenney ruled against that claim, saying the trustee’s authority to recover the funds came first.
Court records also show Park gave up his right to a bankruptcy discharge. That step usually protects a debtor from having to personally repay certain debts.
The jury convicted Park on three counts of wire fraud and two counts of bankruptcy fraud. Each wire fraud count carries a maximum sentence of 20 years in prison.
Each bankruptcy fraud count carries a maximum sentence of five years. A judge will decide the final sentence after reviewing federal sentencing guidelines.
The FBI’s Washington Field Office investigated the case. Trial attorneys from the Justice Department’s Criminal Division are prosecuting it, with help from federal prosecutors in the Eastern District of Virginia.
Park is scheduled to be sentenced on December 10, 2026.
The post Federal Jury Convicts Virginia Investor for Fraud and Hidden Crypto Holdings appeared first on Blockonomi.

Key Highlights
Series D funding of $3 billion secured by The Boring Company
Company valuation reaches $23 billion, a significant increase from $5.7 billion in 2022
UAE-affiliated entities spearheaded the investment round, with participation from Sequoia Capital, Andreessen Horowitz, and Temasek
Capital earmarked for tunnel construction across Las Vegas, Nashville, and Dubai
UAE collaboration may result in over 150 km of subterranean transport infrastructure
The Boring Company, Elon Musk’s infrastructure venture focused on underground transportation, has successfully closed a $3 billion financing round. This Series D investment positions the company at a $23 billion valuation.
Congrats Boring Company team! https://t.co/eFhhZfKmu8
— Elon Musk (@elonmusk) September 10, 2026
Investment leadership came from the United Arab Emirates alongside associated investment vehicles. The funding syndicate also featured prominent names like Sequoia Capital, Andreessen Horowitz, Temasek, Vy Capital, Human Capital, Valor Equity Partners, Shamal Holding, and Baron Capital.
The fresh capital injection will fuel the company’s ambitions to broaden its subterranean transit infrastructure. Active development initiatives are underway in Las Vegas, Nashville, and Dubai.
Middle East Investment Powers Valuation Surge
The United Arab Emirates has emerged as a critical strategic partner in this funding milestone. The collaboration envisions constructing upwards of 150 kilometers of tunnel infrastructure throughout UAE territories.
In the previous year, The Boring Company formalized a preliminary framework with Dubai’s Roads and Transport Authority for the Dubai Loop initiative. This ambitious undertaking aims to create a rapid underground mobility system beneath the metropolitan area.
The current valuation represents a dramatic escalation from previous funding benchmarks. During its 2022 financing round, the venture secured $675 million at a $5.7 billion assessment.
This translates to a more than fourfold appreciation in company worth over a four-year timeframe. The fundraising amount itself has similarly expanded by over four times compared to the 2022 capital raise.
Scaling Operations and Engineering Innovation
According to The Boring Company, its operational footprint has evolved from a singular Loop installation to a comprehensive multi-city tunnelling initiative within the last two years.
Current undertakings encompass diverse geological environments, including both soft soil and hard rock substrates. The organization credits its proprietary Prufrock boring machinery and autonomous construction systems with accelerating excavation timelines.
These advanced tunnelling systems are engineered to minimize dependency on conventional launch infrastructure. According to company statements, this approach delivers both cost reductions and expedited project completion.
Workforce expansion is anticipated across engineering disciplines, manufacturing operations, and field activities. However, the company has not disclosed specific hiring targets or employment growth projections.
Musk established The Boring Company approximately in 2016 or 2017, driven by concerns over urban traffic gridlock. The core concept centered on developing tunnel networks capable of facilitating faster urban mobility.
The Las Vegas Loop stands as the organization’s most mature operational deployment. Located beneath the Las Vegas Convention Center, this system has maintained continuous operations for multiple years.
Nashville represents another metropolitan area targeted for Loop system deployment. The company has branded its Nashville initiative as the Music City Loop.
This latest financing milestone positions The Boring Company for accelerated growth in domestic and international markets alike. The UAE partnership marks the company’s most substantial cross-border expansion initiative to date.
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TLDR
US authorities restrained more than $52 million in crypto tied to Xinbi Guarantee, a Chinese-language scam marketplace run on Telegram.
The DOJ’s Scam Center Strike Force seized two wallets holding about $12 million and sought restraints on 47 more wallets.
The Treasury Department sanctioned Xinbi along with two tech firms, SafeW Technology and Anwen Technology, for supporting the network.
Treasury says Xinbi has processed over $24 billion in crypto and fiat since 2022, used in part by North Korean hackers.
The action follows UK sanctions on Xinbi and comes alongside a Strike Force operation that shut down 13 scam compounds in Madagascar.
United States authorities restrained more than $52 million in cryptocurrency connected to Xinbi Guarantee this week. The action targeted a Chinese-language marketplace that operated through Telegram.
The Department of Justice’s Scam Center Strike Force led the seizure. Officials said Xinbi allowed vendors to sell services to scam center operators.
Those services included building fake investment websites, laundering stolen funds, and recruiting workers for scam compounds in Southeast Asia. Vendors posted their offerings directly in the Telegram channel.
The Strike Force seized two wallets that Xinbi used to collect vendor payments. Those wallets held about $12 million combined.
Law enforcement also sought restraints on 47 additional wallets linked to the laundering network. In total, more than $52 million in crypto was restrained in one day.
A federal court in Washington authorized the seizure of the Telegram channels on September 7. The DOJ credited stablecoin issuer Tether for helping with the investigation.
Treasury Sanctions Xinbi and Its Tech Partners
The Treasury Department’s Office of Foreign Assets Control designated Xinbi as a transnational criminal organization on the same day. Two other firms were also sanctioned for supporting the platform.
Singapore-based SafeW Technology and Cambodia-based Anwen Technology were named for providing technology and financial support. Treasury said Xinbi moved its networks to SafeW’s encrypted messaging app around June 2025 as law enforcement attention grew.
Anwen allegedly built XinbiPay, also called NewPay. This is a crypto wallet and payment app used across the marketplace.
TRM Labs Global Head of Policy Ari Redbord told Cointelegraph that Xinbi filled a gap left by another platform’s shutdown. He said Xinbi became the main escrow and cash-out service for scam compounds in Southeast Asia, moving more than $36 billion.
Treasury said Xinbi has processed over $24 billion in crypto and fiat since around 2022. The department said the platform has been used by North Korean hackers and groups tied to the sanctioned Prince Group.
The sanctions block Xinbi’s property in the US. They also stop US persons from doing business with the three designated entities.
Global Crackdown Expands Beyond the US
This is not the first government to target Xinbi. The UK sanctioned the platform in March, freezing UK assets connected to it.
Those UK sanctions also barred Xinbi from the country’s financial, trade, and travel networks. The US action adds to that pressure.
Separately, the Strike Force sent a team to Madagascar for two weeks. They assisted local authorities in shutting down 13 scam centers run by Chinese organized crime groups.
The team helped process more than 3,200 electronic devices during the operation. Investigators also interviewed nearly 400 people arrested in the raids.
About 30 of those arrested were identified as Chinese leaders of the scam compounds. They were repatriated to China following the operation.
The Strike Force said the total amount of crypto it has restrained since launching in November 2025 now stands at about $938 million.
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