JH Kim

On the 24th (local time), according to The Block, a media outlet specializing in virtual assets (cryptocurrencies), Coinbase Ventures led a $14.6 million funding round for Bastion, a startup aiming to build stablecoin infrastructure. The round also saw participation from Sony Innovation Fund, a16z Crypto, Samsung Next, and Hashed. Bastion said it has raised more than $40 million in total, including this investment. The newly raised funds will be used to expand infrastructure that enables companies and financial institutions to use stablecoins at scale in a secure, efficient, and regulatory-compliant manner. Bastion launched in a $25 million seed round led by a16z Crypto in 2023, and at that time it focused on blockchain technology adoption and improving Web3 user onboarding processes.

According to business news channel Walter Bloomberg on the 24th (local time), Senator Elizabeth Warren and Senator Elissa Slotkin requested an investigation by the inspectors general of the U.S. Department of Commerce and the Department of State into suspicions related to the Trump family's overseas virtual asset (cryptocurrency) transactions. Warren said, "These transactions entail the possibility of conflicts of interest and violations of ethical norms," and warned they are "a dangerous pattern of political power combined with foreign capital."

The three major U.S. stock indices are showing declines. The Nasdaq Composite was trading at 22,568.26 points at 00:26 on the 25th, down 0.02% from the previous day. The Dow Jones index was down 0.07% at 46,259.13 points, and the S&P500 index was down 0.07% at 6,652.34 points.

On the 23rd (local time), U.S. President Donald Trump said on the social media platform Truth Social, "Ukraine is in a position to recover all of its territory as it was if it receives support from the European Union (EU)." President Trump said, "I have a full grasp of the military and economic situations of Ukraine and Russia," and added, "I have witnessed the economic hardships this war has brought upon Russia." He emphasized, "With time and patience, and financial support from Europe and especially the North Atlantic Treaty Organization (NATO), regaining the borders from before the start of the war is a fully possible option." Regarding Russia, he claimed, "If it were a true military power, this war, which would not have taken even a week, has been fought purposelessly for three and a half years," and "this does not glorify Russia; rather, it makes it look like a 'paper tiger' (paper tiger)." President Trump also said, "Ukraine is becoming stronger and regaining its original form, and perhaps may achieve more," adding, "I wish both countries luck. We will continue to supply weapons as NATO wants."

The three major U.S. stock indices closed lower. The Nasdaq Composite Index recorded 22,573.47 points on the 24th, down 0.95% from the previous day. The Dow Jones Industrial Average closed at 46,292.78 points, down 0.19%, and the S&P 500 index closed at 6,657.71 points, down 0.54%.

On the 23rd (local time), according to SolidIntel, the U.S. Commodity Futures Trading Commission (CFTC) said that stablecoins can be used as collateral in the U.S. derivatives markets.

On the 23rd (local time), Reuters reported that Piero Cipollone, a member of the European Central Bank's (ECB) Executive Board, said the target for issuing a digital euro (CBDC) has been set for mid-2029. Cipollone said he expects the final design of the digital euro to be completed by 2026 and explained that the project would contribute to strengthening European payment infrastructure and securing strategic monetary sovereignty.

On the 23rd (local time), according to crypto-specialized media CoinDesk, Silicon Valley startup incubator Y Combinator is collaborating with Coinbase Ventures and Base to support fintech 3.0 startups. The collaboration aims to help founders build on-chain financial services in areas such as stablecoins, asset tokenization, and AI agents. Startups will receive funding, technical advisory, and market entry opportunities through the program.

On the 23rd (local time), according to the economic breaking news channel Walter Bloomberg, Jerome Powell, chair of the U.S. Federal Reserve (Fed), said in an "Economic Outlook" speech held in Warwick, Rhode Island, "tariffs are not a major factor in inflation." Powell added, "The pass-through of tariffs is less than we expected," explaining, "intermediate firms are absorbing the tariff burden, and it does not seem to have been passed on heavily to consumers yet."

On the 23rd (local time), according to SolidIntel, the White House is reportedly considering Josh Sterling as a candidate for chair of the Commodity Futures Trading Commission (CFTC).

According to Walter Bloomberg, the economic breaking news channel, on the 23rd (local time), Jerome Powell, Chair of the U.S. Federal Reserve (Fed), said in a speech titled 'Economic Outlook' held in Warwick, Rhode Island, "stock market valuation is already at a considerably high level." Powell's remarks were interpreted as reflecting concerns that the recent stock market rally may be a sign of overheating relative to fundamentals. However, he did not mention any specific prospects for a correction or policy implications.

On the 23rd (local time), according to economic news channel Walter Bloomberg, Jerome Powell, Chair of the U.S. Federal Reserve (Fed), said in a speech titled 'Economic Outlook' held in Warwick, Rhode Island, that "the price pressure from tariffs is likely to be temporary." Powell said, "Inflation remains somewhat elevated," and "however, after the rate cut in September the Fed is in a more favorable position." These remarks are interpreted to suggest that tariff policies may put pressure on prices in the short term, but are unlikely to spread into a persistent inflationary factor.

On the 23rd (local time), according to Crypto in America host Eleanor Terrett, the Senate Banking Committee, led by Republicans, has effectively failed to hold the targeted September 30 vote on the digital asset market-structure bill 'CLARITY Act'. The Democrats have maintained that a procedural agreement is needed before detailed negotiations and have not yet provided official feedback. With the added possibility of a federal government shutdown, a late-September vote has become effectively impossible. A new target schedule being discussed is the week of October 20, but nothing has been finalized. However, because the Senate Agriculture Committee is planning an October vote on a Commodity Futures Trading Commission (CFTC)-related bill, this delay is not expected to completely prevent the bill from being brought to the full Senate within the year. The CLARITY Act is a bill aimed at establishing a regulatory framework for the virtual asset (cryptocurrency) industry. Its main provisions include clearly delineating the jurisdictional authority of the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), and including a provision exempting virtual assets that meet certain criteria from registration requirements under the 1933 Securities Act.

On the 23rd (local time), according to Bitcoin Magazine, a media outlet specializing in virtual assets (cryptocurrencies), Paul Atkins, chairman of the U.S. Securities and Exchange Commission (SEC), said he is working with Congress to pass a virtual asset market structure bill. He emphasized that the bill would play an important role in clarifying the regulatory framework of the digital asset industry and in strengthening investor protection and market stability. The remarks came amid moves to resolve virtual asset regulatory uncertainty in the United States.

The three major US stock indices are showing mixed performance. The Nasdaq Composite was trading at 22,711.70 points, down 0.34% from the previous day as of 00:00 on the 24th. The Dow Jones Industrial Average was up 0.47% at 46,598.58 points, and the S&P 500 was down 0.09% at 6,687.89 points.

The three major U.S. stock indexes closed higher. The Nasdaq Composite stood at 22,788.98 points, up 0.70% from the previous close on the 23rd. The Dow Jones Industrial Average closed at 46,381.54 points, up 0.14%, and the S&P 500 closed at 6,692.59 points, up 0.42%.

On the 22nd (local time), according to WatcherGuru, a media outlet specializing in virtual assets (cryptocurrencies), U.S. lawmakers asked the Securities and Exchange Commission (SEC) to open 401(k) retirement plans to virtual assets. This is intended to implement President Donald Trump's executive order. The SEC said it is currently reviewing the request, and the specific timing and scope of implementation have not yet been announced.

On the 22nd (local time), according to the breaking economic news channel Walter Bloomberg, Steven Myron, a U.S. Federal Reserve (Fed) board member, said the policy rate remains in a restrictive area about 2%percentage points above neutral and that aggressive cuts are necessary. In a speech to the New York Economic Club, Myron emphasized the need for rate cuts, saying, "Keeping short-term rates about 2%percentage points above the appropriate level could cause unnecessary layoffs and a higher risk of unemployment." He also assessed that, due to the Trump administration's tax policy, immigration policy, deregulation, and tariff revenues, an economic environment is being created that could allow the policy rate to be lowered to the low 2% range. Myron's remarks came amid ongoing discussions within the Fed about the timing and magnitude of rate cuts, and are expected to focus investors' attention on the future direction of monetary policy.