Jonathan McKernan holds the position of Under Secretary for Domestic Finance at the Treasury. In this role, he has the ability to shape policies related to banking practices. McKernan’s influence extends to considerations regarding a potential US digital dollar.
Coinbase has implemented price precision updates affecting eight memecoins to enhance the trading experience. These adjustments are designed to minimize slippage and improve the overall smoothness of transactions for users. The memecoins impacted by this change are Dogecoin (DOGE), Shiba Inu (SHIB), Floki Inu (FLOKI), Pepe (PEPE), Bonk (BONK), Akita Inu (AKITA), and others, streamlining the trading process for these assets.
Grayscale has made adjustments to its crypto investment baskets to align with current market conditions. The DeFi and AI portfolios have been updated with the addition of Aerodrome and Story respectively. For more details, please refer to the original article: Grayscale Revamps Crypto Portfolios with Fresh Additions.
Buenos Aires is implementing a new taxation framework impacting freelancers and businesses accepting cryptocurrency. A 6% gross income tax will be applied to sales involving cryptocurrency. Analysts have expressed concerns that this new tax, while providing more clarity regarding cryptocurrency taxation, may also hinder adoption of digital assets. The city of Buenos Aires is clarifying its cryptocurrency taxation policies with this new regulation.
Bitcoin's price recently surged to a new all-time high above $125,000, marking a remarkably positive period. Following this rise, the cryptocurrency experienced a slight pullback, yet momentum persists. Several key metrics have signaled a return to bullish trends in the market. Bitcoin investors are demonstrating renewed bullishness due to the recent price increase. The Futures Open Interest metric has sharply increased, indicating a heating derivatives market. This rise reflects a wave of renewed bullish sentiment and investor conviction. Glassnode has identified potential support levels between $121,000-$120,000 and near $117,000. A decline into these areas might draw in additional demand as buyers defend these levels. Selling pressure from the derivatives market has lessened, signifying a shift in dominance. The BTC Net Taker Volume metric has moved from a low to near-neutral levels. This shift suggests potential for a sharp move into strongly positive territory. Monitoring this metric is key to observing buyer intervention and support levels.
The IMF's Managing Director, Kristalina Georgieva, emphasizes uncertainty in the global economy, suggesting it's a "new normal." Markets need to adjust to this ongoing instability and recognize the situation's persistence. The IMF is assessing the economic outlook ahead of its annual meetings. Georgieva anticipates the Federal Reserve will likely need to cut interest rates further. The Federal Reserve is carefully balancing inflation control and economic growth. The fund expects further interest rate cuts from the Fed, anticipating success in curbing inflation. Georgieva pointed to services inflation stabilization and company profit margins as factors that led to the pause in inflation. Central banks and investors are demonstrating a significant appetite for gold. Gold's record high price is seen as a concerning signal in the current environment. This increased demand for gold reflects a desire to build a "buffer" against the ongoing economic uncertainty. A pervasive “cloud of uncertainty” is driving market behavior. This uncertainty isn’t expected to resolve itself quickly. The prevailing uncertainty is a primary factor behind recent financial trends.
Jonathan McKernan was confirmed by the Senate with a 51–47 vote to serve as Under Secretary for Domestic Finance. This position significantly increases the Treasury’s influence on banking policy and coordination regarding a potential US central bank digital currency (CBDC). His role involves advising the Treasury Secretary and interacting with the Federal Reserve and FDIC. McKernan’s confirmation strengthens Treasury's role in shaping US digital dollar initiatives and banking regulations. He will coordinate with key financial regulators and contribute to the policy positions of the Treasury. This includes involvement in interagency working groups and public statements that frame regulatory priorities. The ongoing government shutdown is currently hindering progress on regulatory approvals and legislative actions. Specifically, the Securities and Exchange Commission (SEC) approvals for exchange-traded funds (ETFs) and bipartisan bills are facing delays due to limited staffing and funding. Confirmations can proceed, but substantive rulemaking and approvals are likely postponed. While McKernan's confirmation clarifies Treasury leadership, a CBDC requires broader actions. Resumption of regulatory progress will likely occur once full funding is restored. Stakeholders should monitor Treasury statements and interagency coordination for insights into future policy direction.
MetaMask has introduced futures contract trading and a tiered rewards program for users. The program utilizes a points-based system, rewarding token swaps and futures contract transactions. Inviting friends also earns users additional points, expanding participation opportunities. The rewards program will offer over $30 million in LINEA tokens quarterly, alongside fee discounts and bonus points. Spending with a MetaMask card and holding mUSD will also contribute to point accumulation. Earned points will be carried over to future seasons for exclusive rewards and MetaMask tokens. MetaMask plans to integrate Polymarket in licensed territories, enabling on-chain prediction market participation. Season 1 offers unique bonuses for Linea network and mobile transactions. Bridge and buyback actions through MetaMask Mobile will also receive special rewards.
The U.S. Federal Reserve released the official minutes from its September meeting. Approximately half of the Federal Reserve committee members anticipate two additional rate cuts before the end of the year. Bitcoin's price reached $124,000 following the release of the Federal Reserve's minutes, which suggested a potential acceleration of easing monetary policy. U.S. President Donald Trump may have reacted positively to the published Federal Reserve meeting minutes.
Grayscale has recently updated its fund portfolios for Q3 2025. These updates include the addition of new digital assets to specific funds. Aerodrome Finance (AERO) has been added to Grayscale’s DeFi Fund. This inclusion reflects the fund's ongoing efforts to incorporate diverse and innovative decentralized finance projects. Story (IP) is now part of Grayscale's AI Fund. This addition signifies the fund's commitment to investing in emerging artificial intelligence technologies. This information is not intended as investment advice. Further details can be found in the original announcement.
This recap concerns Bitcoin's performance and the broader cryptocurrency market, specifically focusing on September 2025. Several factors suggest Bitcoin may continue to rise in value. The cryptocurrency market has experienced a rally, significantly influenced by Bitcoin's performance. However, this rally has recently lost momentum, resulting in a slide in cryptocurrency prices. Deutsche Bank has observed a notable shift, highlighting the increasing prominence of Bitcoin compared to the dollar in investment strategies. Gold is currently performing strongly, concurrently with Bitcoin’s positive trajectory.
Jupiter is launching JupUSD, a Solana-native stablecoin, aimed at becoming the platform’s primary unit of account. Launch is anticipated later this quarter following comprehensive audits and will initially be backed by USDtb, with future expansion to Ethena’s USDe. This move intends to centralize liquidity across swaps, lending, and perpetual markets, while replacing USDC. The rollout plan includes completing audits, issuing JupUSD backed by USDtb, and then integrating USDe. A key aspect involves converting approximately $750 million in USDC into native JupUSD liquidity pools to deepen on-chain liquidity loops. This phased approach also includes progressive integration into Jupiter’s product ecosystem. JupUSD aims to reduce reliance on external dollar-backed assets and lower slippage for traders. Regulatory compliance, particularly concerning reserve standards and licensing, will be crucial for adoption. The success of JupUSD hinges on audit outcomes, reserve transparency, and a favorable regulatory environment.
Jupiter has introduced JupUSD, a newly launched stablecoin. This stablecoin has the potential to significantly alter the liquidity environment within the Solana blockchain. Its stability and adoption will be crucial factors in shaping Solana’s overall financial infrastructure.
MAGACOIN FINANCE has achieved a significant milestone by successfully completing comprehensive audits from both Hashex.org and Certik.com, two leading blockchain security firms. These audits confirm the project’s integrity, focusing on smart contract security and the overall presale structure. This dual verification establishes MAGACOIN FINANCE as a trustworthy and secure crypto presale. Industry analysts recognize MAGACOIN FINANCE as an example of audit transparency and a project prioritized for investor safety. Early Ethereum and Solana backers are paying attention to the structured rollout and focus on long-term utility. Analysts suggest now is a strategic moment for early investors before the project transitions to open market trading. MAGACOIN FINANCE’s roadmap includes exchange listings, staking integration, and ongoing ecosystem expansion. The project prioritizes long-term growth, rewarding early participants. Ongoing security monitoring and commitment to investor fund safety solidify its position as a leader in the emerging crypto landscape.
Ripple experienced an initial price surge, briefly exceeding $3.00, but subsequently retreated, fostering a sense of caution among traders. Despite short-term bearish predictions, XRP continues to benefit from robust institutional support and a significant market capitalization surpassing BlackRock. A recent legal victory for Ripple has spurred regulatory clarity and Wall Street interest, but social sentiment has cooled, with negative discussions outweighing positive hype. Data indicates a shift in XRP market behavior, with whales quietly accumulating XRP while retail investors express doubt. This pattern mirrors previous scenarios where negative sentiment preceded substantial price increases. The accumulation by large wallet holders suggests that sophisticated investors anticipate a future price rally, diverging from the current retail panic. XRP is currently testing resistance levels, and a sustained move above $3.10 could trigger a rally toward $3.60–$3.70. Alternatively, a drop below $2.70 may lead to a revisit of $2.60. Simultaneously, a new altcoin, Maxi Doge, is gaining attention due to its presale success, fair distribution, and high staking rewards, mimicking the early-cycle energy observed with XRP.
Analyst Dark Defender’s recent analysis highlights parallels between XRP’s current market structure and its historic 2017 rally. The 2017 surge was characterized by a clear five-wave impulsive structure, strong RSI momentum, and sustained price action above the Ichimoku Clouds and Exponential Moving Average. These indicators collectively signaled robust buying pressure and a major bull cycle’s formation, shaping XRP's position in crypto history. Following the 2017 rally, XRP entered a corrective phase in 2021, marked by a weaker market structure and a rebound only to around $1.96. Technical indicators, including the RSI, Ichimoku Clouds, and EMA, demonstrated a significant slowdown. The SEC lawsuit further dampened sentiment, delaying any potential for a sustained rally and necessitating a period of rebuilding. A crucial breakout occurred on November 10, 2024, when XRP breached long-term resistance, indicating a renewed impulsive structure. XRP's price moved above the Ichimoku Clouds again, with Heikin Ashi candles closing above previous highs and the EMA providing support. Notably, the RSI displayed momentum comparable to the 2017 rally, suggesting a potentially powerful upward wave. With the Ripple vs. SEC case resolved and regulatory uncertainty lessened, XRP has a strong foundation for a bullish phase. Market structure, momentum, and sentiment are aligning, indicating a possible return to new all-time highs. This analysis suggests XRP is entering a new era for blockchain-based finance.
North Dakota is launching Roughrider Coin, a dollar-backed stablecoin, in 2026 through a partnership with Fiserv and the Bank of North Dakota. This token is designed for banks and credit unions, focusing on interbank settlement, merchant payments, and cross-border transfers, with reserves matching token supply. The initiative signals a modern approach to financial ecosystem development for North Dakota citizens. Roughrider Coin will utilize Fiserv’s digital asset platform, expecting interoperability with other stablecoins. Implementation involves assessing requirements, integrating payment rails, piloting transactions, and eventually scaling production for regular settlement. Banks and credit unions in North Dakota are the initial targets for adoption, aiming for faster settlement and streamlined reconciliation. The launch aims to modernize payment rails and improve liquidity for local financial institutions. This token joins a growing list of state-issued stablecoins and reflects a maturation of the stablecoin ecosystem. The name, referencing Theodore Roosevelt’s Rough Riders, connects to North Dakota's history.
CleanSpark CEO Matthew Schultz recently dined with US Treasury Secretary Scott Bessent and Senate Banking Committee Chairman Tim Scott. Schultz shared details of the meeting, noting discussions centered on Bitcoin and broader US digital asset policies. He specifically mentioned conversations about the Market Structure Act, the economy, and potential Federal Reserve chair candidates. Schultz revealed the US currently holds approximately $17 billion in Bitcoin. These assets are intended for continued accumulation, with no immediate plans for sale. The CEO highlighted the significance of the meeting, emphasizing the US government's interest in CleanSpark's work. The meeting expanded beyond cryptocurrency, encompassing topics like land, energy, and sovereign AI. Schultz emphasized the value of having a seat at the table and the US government's willingness to support CleanSpark's endeavors. The US Treasury Secretary and Chairman displayed genuine concern and offered assistance.
Bitcoin Core contributor Luke Dashjr has voiced concerns about the level of involvement from other developers within the Bitcoin ecosystem. Dashjr's statement suggests a need for increased participation and contribution from a wider range of developers to support the ongoing maintenance and advancement of the Bitcoin protocol. The remarks indicate a perceived shortfall in developer engagement, implying a need for a more robust and collaborative effort within the Bitcoin development community.
The Ethereum Foundation has established a privacy cluster, led by Igor Barinov, to formalize and advance privacy development. This cluster will focus on providing full-stack privacy infrastructure, including a wallet and SDK. It consolidates existing work and aims to bring together diverse aspects of Ethereum privacy. This initiative represents a significant commitment to user privacy and control over data. The Privacy Cluster comprises 47 researchers and developers, building on the foundation laid by the Privacy Stewards of Ethereum. It will address private read/writes, proving, identities, and improve the overall privacy experience. The cluster also supports the Kohaku wallet and SDK, furthering on-chain privacy enhancements. It will facilitate privacy through various tools like Semaphore and MACI. The Ethereum Foundation recognizes the increasing demand for privacy, fueled by services like Railgun and driven by institutional and personal requirements. Private transactions provide benefits for personal safety, developer needs, and institutional reluctance to share activity. An Institutional Privacy Task Force will focus on regulatory compliance and real-world business use cases. It intends to allow all user classes to operate with privacy. The Privacy Cluster will expand upon the Privacy Stewards’ roadmap and early-stage research and development efforts. It seeks to provide private reads, writes, and selective disclosure of identity. The foundation plans to improve the user experience with privacy tools, alongside compliance and regulatory considerations.
A recent poll by McLaughlin & Associates and The Digital Chamber reveals that 64% of voters consider a candidate's position on digital assets a crucial factor in their voting decisions. The survey highlights the increasing importance of crypto stances in elections. This demonstrates a growing awareness and consideration of digital asset policies among the electorate. Crypto investors generally express more trust in Republicans than Democrats regarding the advancement of cryptocurrencies in the U.S. A majority supports reversing Biden's crypto regulations and enforcement actions. This bipartisan support suggests potential for policy changes impacting the digital asset landscape. Donald Trump’s advocacy for crypto-friendly regulations has drawn both praise and scrutiny. Support exists for rolling back Biden-era policies to facilitate cryptocurrency growth. Senator Elizabeth Warren has raised concerns regarding Trump's connections to the World Liberty Financial platform and its planned stablecoin, USD1.
Ethereum is currently trading near $4,450, rebounding from a low of $4,100, and remains within a rising wedge pattern. The price has met resistance around $4,800 for two months, creating a period of technical compression. A breakout above $4,800 could lead to a move towards $5,200, while support lies around $4,300. The upward trendline remains key support, and a sustained move above $4,500 could strengthen the bullish case. Breakdown below $4,300 might lead to a correction towards $4,080 or even lower. Momentum indicators suggest buyers are still in control, but a decisive move depends on breaking short-term resistance. Ethereum saw $84 million in net outflows from exchanges recently, suggesting accumulation and tightening supply. However, Ethereum futures open interest has decreased, indicating reduced exposure from short-term traders. Options open interest has increased, showing growing volatility hedging. The market is poised for a breakout, with Ethereum's price coiling near the $4,800 ceiling. Holding the $4,300 zone remains crucial for potential continuation, while failure to do so could trigger a broader correction.
North Dakota is set to introduce its initial state-backed stablecoin. The stablecoin will be launched on the Fiserv digital asset platform. The anticipated launch date for the stablecoin is 2026. The stablecoin aims to simplify and enhance interbank payment processes.
Binance published its 35th Proof of Reserves report, reflecting a snapshot from October 1st. The report indicates a decrease in user balances when compared to the previous month. Despite this decrease, the exchange's asset ratio remained above 100%. This report aims to increase transparency following concerns raised by the FTX collapse. User Bitcoin (BTC) holdings declined by 2.67%, resulting in 591,000 BTC. Ethereum (ETH) balances also decreased, falling to 4.13 million ETH. Tether (USDT) holdings decreased to 30.28 billion USDT. These changes reflect shifts in user activity and market conditions. Binance maintains high reserve ratios across various assets, including BTC (103.50%), ETH (100.00%), and USDT (106.87%). Several other assets also demonstrated high margin ratios, such as LTC, DOGE, POL, DOT, and LINK. This practice of publishing Proof of Reserves became prevalent after the FTX scandal.
