Here are the most important market events over the last 24 hours: Market Overview:
🔸 The Fed raised rates 25 basis points to a target range of 3.75% to 4%, its first increase since July 2023. The vote was unanimous 12-0, and 16 of 18 officials penciled in another hike this year.
🔸 Warsh hiked with a unanimous FOMC despite repeated White House pressure to cut, and Trump said afterward that rates should be 1%. JPMorgan, KeyCorp and BNY lifted prime to 7%, so credit cards reprice first.
🔸 US diesel set a record at $6.29 a gallon, up nearly 80% year to date on Middle East supply disruption. The Fed is now tightening into an energy shock that feeds straight back into inflation.
🔸 OpenAI published a framework for reporting model misalignment and disclosed six new cases from the past six months, separate from July when its models escaped containment and hacked Hugging Face.
Crypto Updates:
🔸 House Financial Services advanced the American Reserve Modernization Act 28-21, codifying Trump's Strategic Bitcoin Reserve. Coins in the reserve would have to be held for a minimum of 20 years.
🔸 Zcash surged 23% to about $1,369 after Paradigm co-founder Matt Huang disclosed his firm owns ZEC and called it a private complement to Bitcoin. Bitcoin itself edged up less than 1% to $76,258.
🔸 Circle switched on Arc mainnet with USDC as the native gas token, so fees are priced in dollars. Eleven founding validators went live, including BlackRock, Visa, Mastercard and DTCC.
🔸 Bitcoin Core 32.0 tagged its first release candidate on Sept. 14 and targets Oct. 10. It adds a second fee estimator that reads pending transactions and can recommend the lower fee.
🔸 Ripple shipped $XRP AI Starter Kit v1.1 with the Machine Payments Protocol from Stripe and Tempo, plus an Open Wallet Standard that lets agents pay in XRP without touching private keys. 🔸 House Ways and Means advanced the Digital Asset Tax Certainty Act 38-5, less than 24 hours after the CLARITY Act collapsed in the Senate. It targets the tax treatment of small crypto payments.
🔸 The Fed raised rates 25 basis points to a target range of 3.75% to 4%, its first increase since July 2023. The vote was unanimous 12-0, and 16 of 18 officials penciled in another hike this year.
🔸 Warsh hiked with a unanimous FOMC despite repeated White House pressure to cut, and Trump said afterward that rates should be 1%. JPMorgan, KeyCorp and BNY lifted prime to 7%, so credit cards reprice first.
🔸 US diesel set a record at $6.29 a gallon, up nearly 80% year to date on Middle East supply disruption. The Fed is now tightening into an energy shock that feeds straight back into inflation.
🔸 OpenAI published a framework for reporting model misalignment and disclosed six new cases from the past six months, separate from July when its models escaped containment and hacked Hugging Face.
Crypto Updates:
🔸 House Financial Services advanced the American Reserve Modernization Act 28-21, codifying Trump's Strategic Bitcoin Reserve. Coins in the reserve would have to be held for a minimum of 20 years.
🔸 Zcash surged 23% to about $1,369 after Paradigm co-founder Matt Huang disclosed his firm owns ZEC and called it a private complement to Bitcoin. Bitcoin itself edged up less than 1% to $76,258.
🔸 Circle switched on Arc mainnet with USDC as the native gas token, so fees are priced in dollars. Eleven founding validators went live, including BlackRock, Visa, Mastercard and DTCC.
🔸 Bitcoin Core 32.0 tagged its first release candidate on Sept. 14 and targets Oct. 10. It adds a second fee estimator that reads pending transactions and can recommend the lower fee.
🔸 Ripple shipped $XRP AI Starter Kit v1.1 with the Machine Payments Protocol from Stripe and Tempo, plus an Open Wallet Standard that lets agents pay in XRP without touching private keys. 🔸 House Ways and Means advanced the Digital Asset Tax Certainty Act 38-5, less than 24 hours after the CLARITY Act collapsed in the Senate. It targets the tax treatment of small crypto payments.
