Federal Reserve Chairman Powell stated that if policy is not in the right place, action will be taken to adjust it. The Fed is paying attention to financial markets, but our focus is on a dual mandate. Before the next meeting, we will monitor the labor market, growth data, and inflation data to determine whether policy is in place. (Jinshi)

Nick Timiraos, the "Federal Reserve's Voice," recently wrote: Federal Reserve Chairman Powell said that even after last week's rate cut, he still believes the Fed's interest rate stance "remains slightly tight," suggesting that there is room for more rate cuts this year if officials continue to judge that recent labor market weakness outweighs inflation setbacks. Powell largely reiterated the views he expressed at the press conference following last week's rate cut. He emphasized the challenges the Fed faces in achieving its twin goals of maintaining low and stable inflation and promoting a healthy labor market. "Two-way risks mean there is no risk-free path," Powell said. "Cutting rates too much, too quickly could keep inflation close to 3% rather than the Fed's 2% target, while maintaining a restrictive policy stance for too long could unnecessarily weaken the labor market." Powell also reiterated his view that slowing job growth this summer necessitated last week's policy shift to focus more on the labor market than earlier this year. The slightly tighter rate setting puts the Fed in a good position to respond to potential economic developments. (Jinshi)

Federal Reserve Chairman Jerome Powell said the Fed is "in a good position" after the September rate cut, and the overall impact of major federal policy changes "remains to be seen." (Jinshi)

Federal Reserve Chairman Powell said that the policy stance remains moderately tight and is well-positioned to respond to potential developments. Inflation remains at a high level, and the interest rate cut is another step towards a more neutral policy stance. (Jinshi)

Crypto journalist Eleanor Terrett posted on the X platform that multiple sources on Capitol Hill agree that the September 30th deadline originally targeted by Republicans on the Senate Banking Committee for revising the Market Structure Act is now effectively impossible. Democrats have yet to provide feedback on the bill, stating they want to agree on a process before beginning negotiations on the details. The impending US government shutdown is reportedly making a meeting on the 30th virtually impossible. A possible new target date is the week of October 20th, but this has not yet been determined.

Market data shows that the XPL contract price briefly surpassed $0.80, currently trading at $0.811, a 24-hour increase of nearly 15%, likely due to Plasma's launch of a stablecoin-native financial application. This follows news that Plasma announced the launch of Plasma One, a stablecoin-native financial application that supports direct payments from stablecoin balances while earning over 10% in returns, focusing on markets with the highest demand for US dollars.

UXLINK, a Web 3 social platform, has officially disclosed a security vulnerability in its multi-signature wallet, resulting in the illegal transfer of a large amount of crypto assets to centralized and decentralized exchanges. The team is currently collaborating with security experts to investigate the cause and has urgently contacted major exchanges to freeze the relevant funds. The team has also reported the case to the police and regulatory authorities and will continue to update on any progress.

Vitalik Buterin stated in a post on the X platform that Base, as an L2 platform built on Ethereum, enhances user experience through centralized features while relying on Ethereum's decentralized underlying infrastructure for security. Base lacks custody of funds and cannot steal user assets or block withdrawals, which meets the definition of L2 beat Stage 1. He noted that if L2 ceases to operate, users can still automatically retrieve their funds through Ethereum contract logic. Furthermore, there are existing cases demonstrating that L2 can prevent operators from censoring transactions. Vitalik emphasized that L2 is an extension of Ethereum, not a custodial server. User funds are ultimately controlled by Ethereum L1 and cannot be stolen or frozen by L2 operators.

OKX market data shows that ETH has broken through 4200 USDT and is currently trading at 4200.2 USDT, a 24-hour increase of 5.59%. (This newsletter is generated by AI)

Cleveland Fed President Hammack said on Monday that with inflation still above the Fed's 2% target and remaining stubbornly high, the Fed needs to be "very cautious" in lifting restrictive monetary policy. "I think we're a short distance away from the neutral interest rate, and if we remove that constraint on the economy, I'm worried about overheating again," said Hammack, one of the most hawkish officials who has no vote this year. She did not make it clear whether she supported last week's rate cut. She stressed that inflation remains a major concern for her, while the job market remains close to the Fed's maximum employment goal. Hammack expects the unemployment rate may rise slightly this year, but will fall again soon. "On the inflation side, we've deviated even further from our target, by a full percentage point. And we've failed to meet our target for four and a half years in a row, and we expect to continue to do so for the next few years."

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Cross-border internet brokerages Futu Securities and Tiger Brokers have recently further tightened account opening restrictions for mainland Chinese residents. In accordance with the latest regulatory requirements, the two brokerages have significantly raised the account opening threshold, basically closing the account opening channels for ordinary mainland residents.

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In September 2025, former Binance CEO Changpeng Zhao publicly supported the decentralized perpetual exchange ASTER, whose token soared 400% within the week and was seen as a challenge to the leading project Hyperliquid.

Hyperliquid's upcoming massive token unlocking has caused market concerns.

The U.S. Treasury recently took a key step toward formalizing the Guidance and Establishment of a United States Stablecoin National Innovation Act (GENIUS Act) into a formal regulatory framework.

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South Korean crypto exchange Bithumb has inked a strategic partnership with World Liberty Financial (WLF), a Trump-affiliated crypto venture, signaling its intent to expand its global footprint in decentralized finance (DeFi).