Trump plans to transfer senior officials from AI testing institutions to the White House, with a 40-person small team tasked with evaluating top-tier AI models.

Bank of Korea Governor Rhee Chang-yong stated that further appreciation of the South Korean won would be beneficial, noting that the currency’s sharp rise since the BOK shifted to a tightening monetary policy has boosted household purchasing power. During a conversation with Krishna, director of the IMF’s Asia and Pacific Department, on the sidelines of the annual meetings of the International Monetary Fund and World Bank in Bangkok on Tuesday, Rhee said: “We will maintain a restrictive monetary policy stance until we are confident that inflation will return to the target level in a timely manner.” Rhee added that a stronger won has tilted economic growth momentum more toward the domestic sector, helping to ease development gaps in what he termed the “K-shaped economy”. He further noted that inflation, exchange rate, and financial stability factors are currently aligning with the same policy direction, making the policy trade-offs facing the Bank of Korea easier than usual.

According to market data from BIT (bit.com), U.S. pre-market crypto-related stocks showed mixed performance, with CRCL down 0.42%, MSTR up 1.23%, HOOD down 0.18%, BMNR up 0.17%, COIN up 0.86%, ABTC up 0.22%, BNC down 0.77%, and GEMI up 2.19%.

Goldman Sachs’ third-quarter investment banking revenue came in at $3.23 billion, above the consensus estimate of $2.86 billion. Net interest income for the third quarter was $3.77 billion, exceeding the forecast of $3.61 billion. Third-quarter equity sales and trading revenue reached $6.44 billion, versus an expected $5.09 billion.

Wintermute said in a post that the Federal Reserve’s meeting minutes show most officials expect another interest rate hike this year, with markets pricing in roughly a 20% probability of a hike at the end of October, while the U.S. 10-year Treasury yield rose to 5.24%. Against this backdrop, the S&P 500 rose 1.2% last week to hit a new all-time high, while the crypto market underperformed. The stock market’s gain was supported by expectations of corporate earnings growth, whereas the crypto market lacks such earnings support and relies more on new capital inflows; as capital flows reversed, crypto assets’ six-week streak of counter-trend gains became unsustainable. Bitcoin retreated from the $86,000–$87,000 range last week, hitting a low of around $80,400 on Thursday before rebounding above $83,000 and reclaiming the $82,500 range high. U.S. spot Bitcoin ETFs saw a net outflow of roughly $679 million last week, marking their largest weekly outflow since late June, while Ethereum ETFs had a net outflow of about $542 million. The crypto market has lost capital inflow support, while U.S. equities remain underpinned by earnings growth. Thus, in the short term, the market will only remain bullish if long-term Treasury yields stabilize and spot ETFs see net inflows again. Until these two conditions are met, Bitcoin remains an asset more sensitive to U.S. stock market volatility with elevated downside risk, and chasing low-quality altcoins is not recommended. If the U.S. 30-year Treasury yield breaks above the 5.64% level hit on September 30, or Bitcoin continues to face resistance near $82,500, Wintermute will turn cautious. This week, focus will be on the U.S. September CPI data, due Wednesday, to assess whether energy inflation is spreading to core inflation, as well as earnings results from financial institutions and AI-related companies.

Russia’s largest lender Sberbank has been approved to conduct cryptocurrency transactions, marking Moscow’s further integration of crypto trading and custody services into its regulated financial system. The Central Bank of Russia has added Sberbank to its registry of cryptocurrency transaction service providers. Earlier this month, the bank was included in the digital depository institution list, enabling it to record customers’ crypto asset holdings. Currently, the registry of crypto transaction service providers comprises 9 institutions.

According to HTX market data, Ethereum has fallen below $2,500, with a 2.1% decline in the past 24 hours.