Hey crypto fam,
Kevin Warsh walked into the Fed and basically said “let’s tear this whole thing apart and see how it actually works.” Bold move for someone barely a few months into the job. The week only got more interesting as the U.S. and Iran finally signed a peace deal. After Trump’s announcement, oil prices dropped, and risk assets like crypto got an unexpected temporary lift.
This week, stablecoin rails pulled in more funds, bigger players are starting to move their lending activity on-chain, and Michael Saylor’s out here insisting Bitcoin doesn’t need to do anything fancy to be valuable than just sit there and let everyone else build financial products on top of it. A couple of AI headlines made the cut too, from chip-buying deals to banks getting picky about which AI tools their staff can use.
Lots to unpack. Let’s get into it.
Lead Story of the Week:
Kevin Warsh Reviews Federal Reserve Mission from First Principles (Read More)
Kevin Warsh, who succeeded Jerome Powell as Fed Chair in May, used his first press conference this week to launch five independent task forces covering the Fed’s communications, balance sheet, data, and inflation framework. The groups will pair internal Fed staff with outside experts to take a first-principles look at how the institution runs. (Read What Happened)
Market Highlights
- Crypto Markets Rise as U.S.-Iran Peace Deal Lifts Risk Appetite, Oil Prices Slide
Crypto markets rose after the U.S.-Iran peace deal eased Middle East fears and lifted global confidence. (Read More)
- Michael Saylor Says Bitcoin Does Not Need Staking as Strategy Pushes BTC-Based Credit Model
Saylor argues Bitcoin needs no staking or yield; returns should come from products built around it. (Read More)
- South Korea Considers Opening Crypto Transfer Licenses to Fintech Firms
South Korea may let fintech firms compete with crypto exchanges for new cross-border virtual asset transfer licenses launching in December. (Read More)
- China Central Bank Acknowledges Stablecoins Role in Cross-Border Payments
China’s central bank says stablecoins may play a bigger cross-border payments role, urging stronger global regulatory coordination. (Read More)
Project Spotlight
Credible Finance Teams Up With OwlTing to Expand Stablecoin Payments Across China and India
Credible Finance and OwlTing partner to expand stablecoin-powered cross-border payments, enabling faster, cheaper settlements between China and India.
AI News Highlights
- ByteDance in Talks to Buy AI Chips From Iluvatar CoreX as Its Chatbot Doubao Grows (Read More)
- JPMorgan Blocks Anthropic AI Tools for Hong Kong Staff Amid Growing Compliance Concerns (Read More)
Market Movers
Top Gainers 📈
- Cortex (CX) +484%
Cortex saw a massive gain this week as interest in AI blockchain agents grew and users embraced natural language-powered decentralized portfolio management.
Top Losers 📉
- Siren (SIREN) −75.7%
Siren saw a massive loss this week after a large holder sold 17M tokens, sparking a market sell-off and reduced trading leverage.
Source: CoinGecko
Disclaimer: This roundup is intended solely for informational purposes and should not be considered trading or investment advice. Nothing herein should be construed as financial, legal, or tax advice. Trading or investing in cryptocurrencies carries a considerable risk of financial loss. Always conduct due diligence.
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