Federal Reserve Governor Bowman: No Need for Further Interest Rate Adjustments This Year

Binance announced in an official statement that its US stock trading service will be temporarily unavailable from 18:50 to 21:00 UTC+8 on October 10, as its partner broker is conducting a system upgrade. During this window, users will not be able to submit US stock trading orders. Scheduled outside regular US stock market trading hours, the service is expected to automatically resume once the upgrade is complete. Binance noted that the upgrade could finish early or be extended due to additional work, advising users to plan their trading activities in advance.

At the regulatory roundtable of Singapore’s TOKEN2049, multiple industry insiders discussed how crypto industry regulatory rules will advance after the U.S. Clarity Act stalled in the Senate this year. Brian Quintenz, former CFTC commissioner and director of SUI Group Holdings, stated that the market clarity provided by the SEC and CFTC through regulatory actions may reach the level achievable via legislation. Jake Chervinsky, CEO of the Hyperliquid Policy Center, said Hyperliquid can act as infrastructure enabling market participants to build compliant markets on it. Deepa, Vice Chair and Managing Director of Dubai’s Virtual Assets Regulatory Authority (VARA), noted that regulated derivatives business has driven a seven-fold increase in Dubai’s trading activity. Arjun Sethi, co-CEO of Kraken, added that top European clients are relocating their operations to Dubai, Singapore and Hong Kong.

Coinbase announced that starting from the last week of October 2026, it will designate USDC as the default USD stablecoin for Samsung Wallet users in the U.S., further expanding its partnership with Samsung. At that time, when users top up their stablecoin balances in Samsung Wallet, USDC will automatically appear as the default option. Coinbase stated that the relevant assets will be custodied via Coinbase Prime, using qualified custodial services compliant with the New York State Department of Financial Services (NYDFS). The collaboration will also involve Bastion, a U.S.-based stablecoin infrastructure provider. Coinbase added that this move will further expand USDC’s use cases in consumer-facing digital wallets.

Hong Kong-based digital asset firm First Digital, the issuer of FDUSD, has entered into a definitive merger agreement with Nasdaq-listed CSLM Digital Asset Acquisition Corp III, with a pre-transaction valuation of $250 million. Upon completion, the two parties plan to form a new holding company and list it on Nasdaq, with the transaction expected to close in the first half of 2027, pending regulatory approvals and other customary closing conditions. As of June 30, 2026, FDUSD’s cumulative trading volume has exceeded $4.7 trillion. For the fiscal year ended June 30, 2025, the company generated approximately $87 million in revenue. First Digital noted that FDUSD’s reserve assets consist of cash and cash equivalents held in segregated accounts, and undergo monthly attestation by an independent third party. The firm’s Finance District platform has launched four products to date but has not yet generated material revenue.

Beating AI News (Dongcha): Shenzhen-based AI hardware company NOOKLAB has completed multiple rounds of financing, with investors including Sequoia China and Linear Capital, raising a total of several hundred million yuan at a valuation approaching $100 million. The two financing rounds were concentrated earlier this year, when founder Zhao Yue had just departed ByteDance for about three months and the company had not yet launched any products. NOOKLAB’s debut product, Moonphase Flip, is an AI e-ink screen that magnetically attaches to the back of a smartphone. Weighing 54 grams and measuring 4.65 mm thick, it is equipped with six microphones and offers over two days of battery life. According to the official description, after users start recording, the AI can extract schedules, commitments, and to-do items from conversations and display them directly on the back screen. Users can flip the phone to view these entries without opening an app to search for records. The product also plans to integrate calendars and historical conversations to prepare meeting materials in advance, generate meeting summaries, and draft follow-up emails. The product is expected to launch in small batches in December, though independent test data is currently unavailable. Similar products already exist: Flowtica’s Verso also combines recording and e-ink screen functionality, but it weighs 98 grams. Moonphase Flip positions itself as slimmer, lighter, and less prone to notification interruptions. Whether the AI can accurately identify users’ commitments and complete subsequent tasks remains to be verified in practice.

Standard Chartered Bank Singapore plans to offer custody services for select crypto assets, stablecoins, and tokenized real-world assets (RWAs) to institutional investors. The bank said the service will further expand its existing digital asset custody business, as it currently provides related crypto custody services in the United Arab Emirates, Luxembourg, and Hong Kong.