Bitcoin's recent price gains are pulling new investors into crypto, according to a Federal Reserve Bank of Cleveland experiment. Participants who viewed Bitcoin's prior 12‑month performance were about 2.5 percentage points more likely to own crypto in a follow‑up survey, highlighting the psychological impact of strong returns. This effect is evident in $BTC's latest weekly close, which marked the biggest notional candle on record near $78,000.

Meanwhile, market makers on Hyperliquid have locked $1.3 billion in short hedges on $BTC and $XRP, while gold climbed to fresh August highs around $4,659 amid ongoing U.S. debt‑ceiling concerns. The large‑scale hedging suggests that whales are protecting portfolios against heightened volatility.

Standard Chartered, the London‑based multinational with $850 billion in assets, announced it will distribute Anchorpoint's HKDAP stablecoin to eligible clients and partners. The move positions the bank as the first to offer a Hong Kong‑dollar‑pegged token, reflecting growing regulatory acceptance in the region.

In a separate fundraising development, Japan's SBI Group led a $68 million Series C round for Fasset, valuing the firm at $1 billion. Fasset plans to launch a digital bank in Malaysia and expand stablecoin payments. The project cites a team with prior blockchain infrastructure experience and claims transparent token distribution, though independent code audits and full investor verification have not yet been publicly released.

Tom Lee's treasury firm Bitmine also made waves, purchasing $81 million of ETH in its largest weekly buy since early July. The 30 % weekly rally in ETH has prompted Lee to suggest the asset could be setting up for a broader move higher.

Sources: CryptoSlate, U.Today, CoinDesk, Cointelegraph

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This news digest was compiled with AI assistance; it is not financial advice. Always do your own research (DYOR).