1. Federal Reserve Official Schmidt Says Reserves May Drop to $2.6 Trillion

Federal Reserve official Schmidt stated that the core issue of the current Federal Reserve balance sheet is determining the appropriate level of reserves. He pointed out that the size of reserves may shrink to about $2.6 trillion. This statement has raised further market attention on the Federal Reserve's monetary policy adjustments and liquidity management. -Original

2. U.S. Lawmaker Says Trump Executive Order Will Push Bitcoin into 401(k) Plans

U.S. House Representative Haridopolos stated that an executive order from the Trump administration will push for Bitcoin to be included in 401(k) retirement plans. He emphasized that this initiative aims to ensure the widespread application of blockchain technology in the U.S. and maintain the country's global leadership in this field. This policy could open new pathways for the application of cryptocurrencies in the mainstream financial system, while also sparking further discussions on regulatory frameworks and investor protection. -Original

3. South Korea's Ruling Party Announces Formation of Digital Asset Task Force to Promote Cryptocurrency Legislation

South Korea's ruling Democratic Party announced the establishment of a digital asset task force aimed at drafting a comprehensive legislative framework for stablecoins and cryptocurrencies. The task force plans to promote the enactment of digital asset legislation during this year's regular session and the National Assembly meeting at the end of the year. South Korea is currently facing pressure from capital outflows, with $40.6 billion in digital assets transferred abroad in the first quarter of 2025, half of which were stablecoins. -Original

4. Canadian Financial Regulator Fines KuCoin's Parent Company $19.6 Million

The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) announced a fine of CAD 19.6 million (approximately USD 14.09 million) against Peken Global Limited, the parent company of cryptocurrency exchange KuCoin. The Seychelles-based company was penalized for failing to register as a foreign money services business, not reporting large virtual currency transactions exceeding CAD 10,000, and not submitting suspicious transaction reports. These actions violated compliance requirements for Canadian financial institutions, making this the largest fine in FINTRAC's history. -Original

5. Citigroup Predicts Stablecoin Market Could Reach $4 Trillion by 2030

Citigroup's latest report predicts that the global issuance of stablecoins could reach $4 trillion by 2030 in a bull market scenario, supporting an annual transaction volume of up to $200 trillion. However, the report suggests that bank tokens may surpass stablecoins in transaction volume due to regulatory advantages, with expected transaction amounts exceeding $100 trillion by 2030. Citigroup noted that stablecoins, bank tokens, and central bank digital currencies (CBDCs) will collectively drive changes in financial infrastructure. -Original

6. U.S. Initial Jobless Claims Decrease, Unemployment Rate Rises to Four-Year High

Data from the U.S. Department of Labor shows that for the week ending September 20, initial jobless claims decreased by 14,000 to 218,000, but the unemployment rate rose to 4.3%, reaching a four-year high. Labor demand remains sluggish, with companies hoarding workers but reluctant to increase staff. Protectionist trade policies and immigration restrictions further suppress employment growth, and the Federal Reserve cut interest rates last week in response to economic pressures. -Original

7. Swiss Central Bank President Says Prepared to Cut Rates Below Zero if Necessary

The President of the Swiss National Bank stated that they are prepared to lower interest rates below zero if necessary. -Original

8. Two Brothers in Minnesota Arrested in Cryptocurrency Kidnapping Case

Minnesota prosecutors reported that two brothers, Raymond Garcia and Isaiah Garcia, have been charged with armed kidnapping. On September 19, the two allegedly held a family of three at gunpoint, forcing the victims to transfer $8 million worth of cryptocurrency. The suspects then fled to Texas, where they were arrested on September 22 and pleaded guilty. Both face multiple felony charges, including kidnapping and robbery. This case highlights the criminal risks faced by cryptocurrency holders. -Original

The above is a selection of hot topics from the past 24 hours. For faster news, please download AiCoin (aicoin.com)

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