Users lost more than $5.6B in 2023 through crypto-related fraud — a 45% jump from 2022: FBI

*People over 60 years old were most scammed, they lost ~$1.6B
*Investment scams were the most common, accounting for 71% of losses with 32k complaints & $3.9B loss

China needs to spend up to Rmb10tn [$1.4T] over two years in stimulus funds to reflate its economy and return it to sustainable growth: FT

*The stimulus, which would be up to 2.5 times the “bazooka” package China enacted after the global financial crisis in 2008, would need to directly target households through social welfare spending rather than investment and infrastructure.

*Morgan Stanley’s Xing said in a “bull case”, Beijing could issue Rmb10tn in stimulus funds over two years — Rmb7tn to boost social welfare spending. The other Rmb3tn would be used to accelerate the sale of China’s massive housing inventory and more quickly stabilise property prices.

BOJ IS SAID TO SEE LITTLE NEED TO HIKE INTEREST RATE NEXT WEEK

The misuse of Worldcoin is under investigation in Singapore for perpetrating money laundering and terrorism financing: link

Bank of Japan board member Nakagawa said on Wednesday the central bank will continue to raise interest rates if the economy and inflation move in line with the bank's forecasts.

TRUMP VS HARRIS Debate Ended: No Crypto Mention

*Trump odds down 3% on Polymarket & Predictit — Harris odds jumped 3%

*After Debate ended Harris campaign called for a second presidential debate in October

Taylor Swift Endorses Harris for President After Debate

*Taylor Swift: I will be casting my vote for Kamala Harris and Tim Walz in the 2024 Presidential Election.

August CPI

*MoM: 0.2% [Est. 0.2%, Prev. 0.2%]
*YoY: 2.5% [Est. 2.5%, Prev. 2.9%]
*Core MoM: 0.3% [Est. 0.2%, Prev. 0.2%] ⚠️
*Core YoY: 3.2% [Est. 3.2%, Prev. 3.2%]

*TRADERS BET FED TO START RATE CUTS WITH 25 BPS NEXT WEEK, SEE 100 BPS TOTAL OF RATE CUTS THIS YEAR

OpenAI Said To Discuss Raising Funds At $150 Billion Valuation - Bloomberg

*Set To Raise About $6.5 Billion From Investors
*Also Discussing Raising $5 Billion In Debt From Banks

*US JOBLESS CLAIMS 230K IN SEPT. 7 WEEK; EST. 227K
*US CONTINUING CLAIMS 1.85M IN AUG. 31 WEEK; EST. 1.850M

GOLD HITS NEW ATH

Grayscale will announce the launch of the U.S.’s first XRP trust, a so-called "closed-end" fund that will offer accredited investors direct exposure to XRP: Fox Business

*A trust and an ETF are two different investment products. An ETF must be approved by the SEC since it is marketed directly to retail investors, while a trust’s structure and sales pitch to so-called accredited investors gets a lighter regulatory touch. Even so, a trust can become an ETF with the right regulatory approvals; two of Grayscale’s single-asset investment trusts – bitcoin and ether – have evolved into ETFs this year.

eToro Reaches Settlement with SEC and Will Cease Trading Activity in Nearly All Crypto Assets except Bitcoin, Bitcoin Cash, and Ether: link

Justin Sun: cbBTC (Coinbase Wrapped BTC) lacks Proof of Reserve, no audits, and can freeze anyone's balance anytime. Essentially, it’s just 'trust me.' Any U.S. government subpoena could seize all your BTC. There’s no better representation of central bank Bitcoin than this. It’s a dark day for BTC.

Binance announced the 58th project on Binance Launchpool - Hamster Kombat (HMSTR): link

*Binance will list HMSTR at 2024-09-26 12:00 (UTC)

OpenAI releases o1 [The rumored ‘Strawberry’ model], its first Model with ‘reasoning’ abilities: link

TRUMP SAYS THERE WILL NOT BE ANOTHER DEBATE WITH KAMALA HARRIS.

We will see more SEC actions [Enforcement] [like the recent eToro Settlement] over the next few weeks, as the SEC’s fiscal year ends Sept 30: Blockchain Association, CEO

MicroStrategy acquired 18.3k BTC for ~$1.11B in cash at ~$60.4K/BTC between Aug. 6 and Sept. 12

Sam Bankman-Fried Files Appeal to Overturn Fraud Conviction