Coin Bytes Archives - Timescrypto

U.S. PCE Inflation Inches Up To 2.7%; Meets Expectations

In August, U.S. PCE inflation inched up slightly to 2.7% from 2.6% in July, according to the Personal Consumption Expenditures (PCE) Price Index. This was right in line with what economists had predicted. Looking at the core PCE, which strips out the more unpredictable costs of food and energy, inflation stayed steady at 2.9%, the same as July. On a month-to-month basis, prices rose 0.3% overall, with the core index up 0.2%. The report also showed that Americans’ personal income grew by 0.4%, giving households a bit more spending power. Meanwhile, personal spending climbed 0.6%, suggesting people are still willing to spend despite rising prices. In short, inflation is creeping up slowly, but income and spending remain strong, showing that the U.S. economy is holding steady even as prices continue to rise. It’s a snapshot of steady growth rather than any sudden spikes or slowdowns.

Canary Capital Files for Spot Solana ETF With Built-In Staking Feature

In an effort to provide investors with simpler access to the rapidly expanding blockchain, Canary Capital has formally submitted an application for a Solana ($SOL) ETF to the U.S. SEC. In contrast to conventional ETFs, this one would stake Solana in addition to holding it directly, allowing investors to profit from staking without having to deal with the technical difficulties. It would be a significant step for Solana if it were accepted, indicating that American markets are becoming more receptive to cryptocurrency assets other than Bitcoin and Ethereum. The action establishes Solana as a major player in the upcoming generation of regulated cryptocurrency investment products and underscores the growing institutional demand for the company’s ecosystem.

Avalanche Partners With Mirae Asset

Avalanche and Mirae Asset are collaborating to tokenise investment funds in order to introduce a novel method to fund management. Through the use of Avalanche’s quick blockchain technology, the collaboration seeks to increase transparency and accessibility to fund ownership. Fund managers can streamline processes and increase efficiency, while investors may gain from faster settlements and greater flexibility. In a significant move into Southeast Asia, Hong Kong’s OSL also purchased Indonesia’s Koinsayang exchange. Through the agreement, OSL has access to Indonesia’s sizable user base and expanding cryptocurrency market. These actions collectively demonstrate the growing convergence of traditional and cryptocurrency finance, creating new avenues for innovation and international growth.

SEC Crypto Task Force Meets VanEck to Discuss ETF Rules and DeFi Oversight

The SEC Crypto Task Force convened with crypto company VanEck on September 25. The discussions were held to talk about some of the most important regulatory concerns in the digital assets sector. The discussion touched on topics including liquid staking tokens, crypto ETFs, and the tokenisation of investment funds. It is interesting to note that the talks come at a time when virtual currencies are becoming closer to mainstream finance. In order to ensure compliance and protect investor funds, they also discussed DeFi monitoring and digital asset custody regulations. The move comes amid a rise in emphasises that the SEC’s is giving towards the commitment to maintain communication with industry participants and develop rules that stimulate innovation. The SEC has time and again tried to bring in new rules that will protect crypto investors from frauds and scams. For the quickly changing crypto industry, it is a part of a larger movement to develop more precise and useful regulations.

Sam Altman’s World Project Integrates Chainlink CCIP

Sam Altman’s World Project is including Chainlink CCIP, in its world project. The inclusion will enable seamless transfers of $WLD tokens between Ethereum and World Chain. This gives both networks greater flexibility and easier access to liquidity. In order to provide real-time, high-quality market data in less than a second, the project is also implementing Chainlink Data Streams. DeFi apps on World Chain will particularly benefit from this update, which provides them with faster and more dependable price feeds for trading and risk management. Through the integration of cross-chain transfers and robust data tools, World Project is strengthening its infrastructure and increasing its appeal to both DeFi developers and regular users.

U.S. Senate to Hold High-Profile Hearing on Digital Asset Taxation

The U.S. Senate is getting ready to delve deeper into the topic of taxing digital assets. Next week, a high-profile hearing is scheduled that will place tax attorneys, policy activists, and cryptocurrency executives like the vice president of Coinbase in the hot seat. On October 1, Senator Mike Crapo, the chair of the Finance Committee, will hold a meeting titled “Examining the Taxation of Digital Assets.” The session will also include Andrea Kramer of ASK Kramer Law, Jason Somensatto, the policy director of the Coin Centre, and Annette Nellen, chair of the Digital Assets Tax Task Force of the American Institute of CPAs. But the focus will be on Lawrence Zlatkin, Vice President of Tax at Coinbase. Interestingly, the Dirksen Senate Office Building will be the source of the broadcast for the session.

Nine European Banks Stay In Talks To Launch MICA-Complaint Euro Stablecoin By H2 2026

Nine European banks including ING, UNICREDIT, AND CAIXABANK are teaming up to launch the a MICA complaint Euro stablecoin. The banks aim to launch the stablecoin by the second half of 2026. The launch will comes via a new company which will be based in the Netherlands. The aim of the launch is to be overseen and licensed by the Dutch central bank. For a long time, US dollar assets and issuers have controlled stablecoin markets. The euro is the second most widely used currency in the world. However, the new launch can help bring more Euro dominance in the market.

Gate Exchange Launches Layer 2 Network ‘Gate Layer’ and Revamps GT Tokenomics

Leading crypto exchange Gate has updated its GT tokenomics and launched its own Layer 2 network, named Gate Layer. The Gate Layer is based on the OP Stack and is completely compatible with Ethereum tools. It also uses GateChain as its settlement layer and adds GT staking to maintain the network’s stability and security. Additionally, GT will serve as the network’s unique gas token, enabling it to play an even more significant role in the ecosystem. The crypto maintains its dual deflationary concept, which mixes on-chain burning with planned burns and buybacks. Interestingly about 60.18% of GT’s supply has already been burned creating its scarcity. This increases trust in its long-term worth to the Gate community.

Australia Proposes Penalties of Up to 10% of Turnover for Rule-Breaking Crypto Platforms

Australia’s proposed legislation, which was revealed on Thursday, would penalise digital asset platforms up to 10% of their yearly sales for violating the new regulations.
The plan mandates that operators, including exchanges, get an Australian Financial Services Licence. Businesses that engage in deceptive behaviour, unfair contract conditions, or dishonest behaviour would be subject to a fine of A$16.5 million (US$10.9 million), three times the advantage received, or 10% of yearly turnover, whichever is higher. Together with the Australian Taxation Office’s examination of cryptocurrency transactions for capital gains tax, these regulations expand on the anti-money laundering duties now supervised by AUSTRAC.

Tether Eyes $500B Valuation with $15–20B Fundraise

Tether is preparing a significant fundraising campaign with the goal of earning $15–20 billion through the sale of a 3% ownership interest. The firm behind the world’s largest stabelcoin would be worth almost $500 billion if it were approved. With a likely large fund raise, the move is demonstrating the tremendous level of investor trust in its future. It is anticipated that Tether would use the funds to expand its business. The capital raise will also help in finance new innovations and form strategic alliances while enhancing its standing in the crypto industry. The action demonstrates optimism for high-potential blockchain enterprises notwithstanding recent market fluctuations. With such a large investment, Ether might stay ahead of the competition, innovate more, and scale more quickly, drawing interest from both large institutional investors and cryptocurrency enthusiasts.

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