Actualités financières en direct

CFTC Chair Michael Selig claimed that the agency was using its “existing statutory authorities“ to address crypto regulation after Congress failed to advance a market structure bill. US Commodity Futures Trading Commission (CFTC) Chair …

CFTC Chair Michael Selig claimed that the agency was using its “existing statutory authorities“ to address crypto regulation after Congress failed to advance a market structure bill. US Commodity Futures Trading Commission (CFTC) Chair Michael Selig said that the agency will move forward on crypto regulation at the direction of President Donald Trump “with or without legislation” from Congress. Speaking at the Fordham Law Blockchain Regulatory Symposium on Monday, Selig announced proposals giving crypto companies the option to operate under the CFTC’s umbrella rather than dealing with the patchwork of regulations offered by individual US states. According to written remarks from the event, the CFTC chair said that it had issued an advanced notice of proposed rulemarking for companies “offering retail customers the ability to trade crypto assets on a margined, leveraged, or financed basis,” calling the regulation ‘CTX.’ Selig said that the agency planned to establish a new category of designated contract market (DCM) called a “crypto asset market,” or CAM, giving certain exchanges the option to register as either. “These rules would codify a pathway for crypto asset exchanges to operate under uniform national oversight by the CFTC pursuant to the same statutory authorities that the prior administration instead utilized to regulate by enforcement,” said Selig. CFTC Chair Michael Selig on Monday. Source: Fordham Law Blockchain Regulatory Symposium The proposed rules would not extend to what the chair called “ordinary spot crypto exchanges” that are “generally regulated under state money transmission laws.” For companies offering spot trading on crypto assets like Bitcoin (BTC), the CFTC would still have the authority to enforce anti-fraud and anti-manipulation regulations. Selig’s proposed regulatory framework for crypto companies came a few weeks after lawmakers in the US Senate failed to approve passage of the Digital Asset Market Clarity (CLARITY) Act, a bill that had been expected to give the CFTC more authority in overseeing and enforcing crypto regulations. The Securities and Exchange Commission already announced its own version of a proposed “tailored securities offering regime” for crypto assets in August before the failed CLARITY vote, setting the expectation that both agencies would move forward with regulation without legislation codifying such rules from Congress. Selig said that Trump promised to deliver a crypto asset regulatory market structure with or without legislation, and the regulators will help him deliver it using existing statutory authorities. “The opponents to CLARITY may have not bargained for the seeming readiness of the executive branch to act in the absence of any constraint from the legislative branch,” said ProChain Capital’s David Tawil, in a post on Monday. Both regulators still understaffed as they advance crypto proposals Friday was SEC Commissioner Hester Peirce’s last day at the agency, wrapping up eight years of service, just ahead of the 18-month extension for her second term. Her planned departure leaves just two commissioners leading the SEC and Selig heading the CFTC as its sole commissioner and chair. A White House official told Cointelegraph last week that Trump intended to nominate commissioners to both agencies “in the near future.” As of Monday, the administration had not announced any replacements for Peirce or the other six commissioner seats. Magazine: Former SEC boss made AI Czar, Bitcoin may hit $600K this cycle: Hodler’s Digest

BofA strategists say the easy money in AI investing is drying up as hyperscaler spending climbs and fund managers worry about credit risk The AI trade made plenty of investors look brilliant. Bank of …

BofA strategists say the easy money in AI investing is drying up as hyperscaler spending climbs and fund managers worry about credit risk The AI trade made plenty of investors look brilliant. Bank of America strategists think the effortless part of that story is ending. BofA’s strategists say investors will have a harder time pulling easy gains out of AI-related investments. The warning comes as the biggest spenders on AI infrastructure keep writing larger checks while the market grows less certain those checks will pay off. The numbers behind the caution Start with the spending. BofA projected US hyperscaler capital expenditure at around $795 billion in 2026 and nearly $1.08 trillion in 2027. Hyperscalers are the giant cloud operators, names like Microsoft, Alphabet and Amazon. Capex is the money they pour into physical infrastructure, the data centers and hardware that AI models need to run. The stock market has not been cheering. By June 2026, US hyperscalers were trailing the S&P 500 by nearly 15% year-to-date. Advertisement BofA read that underperformance as a sign of doubt about whether the expected returns on all that investment will materialize. A BofA equity strategy note from that same month warned that the AI-driven stock rally might be losing momentum. The note also pointed out that corporates are rationing their AI usage and shifting toward cheaper models. That detail carries more weight than it first appears. If paying customers are trading down, the landscape is more competitive than many expected, and premium pricing becomes harder to defend. AI, tech, and the markets they move—in one daily briefing. Daily. Free. Join 34,000+ readers across crypto, finance, and policy. Email address Subscribe free We respect your privacy. Unsubscribe anytime. Fund managers are getting nervous The unease extends well beyond one strategy desk. In BofA’s August 2026 Global Fund Manager Survey, 38% of respondents identified AI hyperscaler capital spending as a likely source of systemic credit risk. By September, AI spending was taking up 80% of discussion time in BofA’s client meetings. Those conversations featured analogies to historical tech booms, a comparison that rarely gets made when everyone feels relaxed. The financing side adds another layer. Hyperscalers are funding their spending through debt, reportedly reaching a capex-to-free-cash-flow ratio of approximately 94%. That ratio compares what a company spends on building with the spare cash its operations generate. At approximately 94%, there is very little daylight between the two, which leaves a thin cushion if returns arrive later or smaller than planned. What this means for investors The nearly 15% year-to-date underperformance by June 2026 shows that recalibration may already be underway. Investors appear less willing to reward spending on its own and more interested in evidence that it produces revenue and margins. The credit angle deserves close attention. With hyperscalers leaning on debt and the 38% survey reading flagging systemic credit risk, any stumble in AI monetization could matter to bond investors and lenders, not just shareholders. For investors, a few signals stand out over the coming quarters. Watch whether corporate customers keep rationing AI usage, whether pricing resistance deepens, and whether hyperscaler capex guidance continues to climb toward the roughly trillion-dollar levels BofA has modeled.

Emmanuel Moulin says France can still reassure bond investors despite ‘serious and worrying’ market moves in recent days Emmanuel Moulin says France can still reassure bond investors despite serious and worrying market moves in …

Emmanuel Moulin says France can still reassure bond investors despite ‘serious and worrying’ market moves in recent days Emmanuel Moulin says France can still reassure bond investors despite serious and worrying market moves in recent days This story appeared on ft.com, 2026-10-05 16:56:54.

NYSE member firm to add tokenized stocks & bonds, real-world assets, crypto and prediction markets on one platform, as tokenized securities head toward a $5.5 trillion market by 2030 NEW YORK CITY, NY / …

NYSE member firm to add tokenized stocks & bonds, real-world assets, crypto and prediction markets on one platform, as tokenized securities head toward a $5.5 trillion market by 2030 NEW YORK CITY, NY / ACCESS Newswire / October 5, 2026 / ThinkEquity LLC an i… NYSE member firm to add tokenized stocks & bonds, real-world assets, crypto and prediction markets on one platform, as tokenized securities head toward a $5.5 trillion market by 2030NEW YORK CITY…

The DeFi aggregator's dApp and Wallet now support dozens of BEP-20 tokens backed 1:1 by US equities, expanding self-custodied access to stock exposure The 1inch dApp and Wallet now list 77 tokenized stocks and …

The DeFi aggregator's dApp and Wallet now support dozens of BEP-20 tokens backed 1:1 by US equities, expanding self-custodied access to stock exposure The 1inch dApp and Wallet now list 77 tokenized stocks and ETFs on BNB Chain. That means a DeFi aggregator best known for routing token swaps now also handles exposure to US equities. The products come from bStocks, a platform that went from a short list of assets to a fairly crowded shelf in a matter of weeks. What 1inch actually added The listed assets are bStocks: BEP-20 tokens that are 1:1 backed by US equities. BEP-20 is the token standard on BNB Chain, roughly the equivalent of ERC-20 on Ethereum. Each token represents a claim on a real share sitting somewhere in the traditional financial system. Holding the token is meant to track the stock, without opening a brokerage account. Users can now trade these tokens directly through 1inch’s aggregator and its wallet interface. The aggregator scans available liquidity and routes orders to get users a better execution price. Advertisement A few features stand out in how bStocks are structured: 24/7 trading. The tokens trade around the clock, unlike the stocks they track, which keep exchange hours. The tokens trade around the clock, unlike the stocks they track, which keep exchange hours. Zero conversion fees to the underlying traditional shares on Binance. to the underlying traditional shares on Binance. Full self-custody. Holders keep the tokens in their own wallets rather than with a broker. Holders keep the tokens in their own wallets rather than with a broker. Full economic exposure to the underlying shares, including dividend reinvestment. From 15 assets to 77 listings The bStocks platform launched around June 11, 2026. By early July, it offered 15 assets. The news moving money, markets, and the world—before your day starts. Daily. Free. Join 34,000+ readers across crypto, finance, and policy. Email address Subscribe free We respect your privacy. Unsubscribe anytime. More recent data put the count of active bStocks at approximately 67 to 68. The 1inch integration now covers 77 tokenized equities and ETFs, which suggests the catalog has kept expanding. bStocks have racked up cumulative trading volumes in the billions, with assets under management in the hundreds of millions. BNB Chain’s position in tokenized stocks BNB Chain holds roughly $1 billion or more in tokenized equities. That works out to about 30-34% of the broader tokenized stocks sector. What this means for traders and the RWA market The most immediate effect is distribution. Tokenized stocks are only useful if people can reach them, and plugging into a widely used aggregator and wallet lowers that barrier considerably. The target audience is fairly clear. Retail investors who want exposure to US equities but face limits with traditional brokerage accounts are the obvious beneficiaries. That includes users who prefer self-custody or who want to trade outside market hours. Another thing to watch is how the 24/7 model behaves when the underlying markets are shut. A token trading on a Saturday tracks a stock that is not trading at all, which can create pricing gaps that arbitrageurs will be eager to test. Finally, the catalog itself is worth monitoring. bStocks went from 15 assets in early July to 77 listings on 1inch.

The latest company to pursue tokenized trading in the United States has an unusual name: OKXICE. That mouthful of letters reflects a joint venture between crypto exchange OKX and ICE, parent company of the …

The latest company to pursue tokenized trading in the United States has an unusual name: OKXICE. That mouthful of letters reflects a joint venture between crypto exchange OKX and ICE, parent company of the New York Stock Exchange, that was announced Sunday night. According to the company, it has filed with the Securities and Exchange Commission to launch a blockchain-based platform for trading tokenized versions of U.S. stocks around the clock. The platform plans to offer more than 60 stocks and to let users buy and sell them with stablecoins, cryptocurrencies designed to maintain a fixed value against the U.S. dollar. Each token would be backed by an underlying share to represent ownership of a real stock rather than simply tracking its price. Trading would run on X Layer, a blockchain linked to OKX, under a new SEC exemption that allows certain regulated on-chain stock trading venues. The news comes roughly three months after Fortune reported that Andrew Cuomo, the former New York governor, would become OKXICE’s cochair. In March, ICE announced an investment in OKX at a $25 billion valuation, putting roughly $200 million into the crypto exchange, according to Bloomberg. “The market never sleeps, so why should trading?” Cuomo told Fortune in a written statement. “Ownership shouldn’t have office hours. We’ve said tokenized securities are part of what comes next, and this filing is a big step toward it.” Tokenizing real-world assets has become one of crypto’s biggest draws for traditional finance. The value of tokenized assets topped $35 billion so far this year, according to a recent report from data analytics platform Dune. Tokenized stocks led that growth, climbing 2,000% as the number of active holders surpassed 1 million. A recent SEC order also paved the way for the announcement. In mid-September, the regulator unveiled a five-year program that lets companies offer trading in blockchain-based versions of stocks under a temporary exemption from some rules that govern traditional exchanges such as Nasdaq and the NYSE. The agency’s exemption came days after the Senate failed to advance the Clarity Act, a bill that would have created a national market structure framework for the crypto industry. For Cuomo, the venture marks a deeper commitment to OKX. The former governor began advising the exchange in 2023 as it faced a Justice Department investigation into potential anti-money-laundering violations. In February 2025, OKX pleaded guilty and agreed to pay roughly $500 million to resolve the case. The exchange relaunched in the U.S. two months later.

Weak US jobs data has narrowed expectations for another Fed hike in October, offering Bitcoin some relief as investors continue to embrace the debasement trade. Bitcoin (BTC) is coming off its best third quarter …

Weak US jobs data has narrowed expectations for another Fed hike in October, offering Bitcoin some relief as investors continue to embrace the debasement trade. Bitcoin (BTC) is coming off its best third quarter since 2017, but extending the rally may prove more difficult as Treasury yields above 5% offer investors an increasingly attractive alternative to risk assets, according to Delphi Digital. In its latest weekly newsletter, Delphi highlighted Bitcoin’s 43% gain in the third quarter, followed by a third straight weekly advance last week. However, “the grind higher is happening against real resistance,” Delphi wrote, pointing to the Federal Reserve’s September rate hike and surging Treasury yields, which have reached multi-decade highs. “When a government bond pays over 5% risk-free, every risky asset has to work harder to deserve the money,” Delphi wrote. Bitcoin has so far managed to overcome the hurdle, helped in part by growing interest in the so-called debasement trade, or the view that persistent government borrowing and currency expansion will erode the dollar’s purchasing power. According to Vanessa Grellet, managing partner at crypto-focused venture firm Arche Capital, “the debasement trade doesn’t require low interest rates,” given investors’ growing focus on federal deficits and the government’s rising interest bill. Against this backdrop, Bitcoin’s price briefly topped $87,000 last week before correcting lower. It has gained more than 35% since mid-August, shortly after the US Treasury announced plans to double its long-dated debt buybacks to support market liquidity, targeting 10- and 20-year notes. Some investors viewed the move as an effort to ease strains in the bond market and contain borrowing costs. Those buybacks have since tripled in size. Source: TradingView Related: Crypto’s billions are back, but the premiums aren’t Weak jobs data changes rate outlook, for now The interest rate backdrop facing Bitcoin could become less restrictive after weaker-than-expected jobs data sharply reduced the odds of another Fed rate hike in October. The US economy added just 29,000 jobs in September, well below forecasts of 80,000, according to the Bureau of Labor Statistics’ latest nonfarm payrolls report. The disappointing print added to signs that the labor market is cooling, giving the Fed more room to wait before raising rates again. Even before the latest payrolls data, Fed officials had signaled they were in no hurry to act. Although policymakers penciled in one additional rate increase this year in their September projections, some officials have since urged patience. New York Federal Reserve Bank President John Williams, a voting member of the Federal Open Market Committee this year, said the central bank does not need to rush into another hike. “With the policy action we took at our September meeting, there is no need for urgency,” Williams said in a speech last week. CME Group’s FedWatch Tool now puts the odds of an October increase at around 24%, down from more than 75% a week earlier. Related: Crypto treasury model loses its edge as stock premiums fade: DWF

Tribulnation SDK Fully-typed, async Python SDK for crypto trading and data. Market , Wallet , Earn , and Report are abstract interfaces implemented per exchange and chain. Code written against MarketSDK runs unchanged on …

Tribulnation SDK Fully-typed, async Python SDK for crypto trading and data. Market , Wallet , Earn , and Report are abstract interfaces implemented per exchange and chain. Code written against MarketSDK runs unchanged on dYdX, Hyperliquid, MEXC, or any other supported venue. Installation pip install tribulnation-sdk [ dydx,hyperliquid,mexc ] See the support matrix for details on extras. Standalone gateway Install tribulnation-sdk[gateway] for tn gateway and the remote ProxySDK . Venue adapters are installed separately on the server. See the gateway guide for configuration, supported operations and migration details. Trading Quick Start from dotenv import load_dotenv from tribulnation.sdk import MarketSDK , accounts load_dotenv () # load credentials from .env file sdk = MarketSDK ( { 'mexc_account1' : accounts . Mexc ( api_key = '$MEXC_API_KEY' , api_secret = '$MEXC_API_SECRET' ), # 'dydx', 'hyperliquid', and 'mexc' are available by default, even without listing them here } ) mexc = await sdk . market ( 'mexc_account1:spot:BTCUSDT' ) dydx = await sdk . market ( 'dydx:perp:BTC-USD' ) async with mexc . trades_stream () as my_trades : async for my_trade in my_trades : print ( f 'Hedging { my_trade } ' ) await dydx . place_order ( { 'type' : 'LIMIT' , 'qty' : - my_trade . qty , 'price' : my_trade . price , } ) accounts.<Venue>() reads credentials from environment variables named after each field ( accounts.Mexc() reads $MEXC_API_KEY / $MEXC_API_SECRET ) — pass explicit values or other $VAR names to override. Market IDs & Scoping <account_id>:<exchange_id>:<market_id> , e.g. mexc_account1:spot:BTCUSDT . account_id is the key you registered in accounts — not necessarily the venue's own name — so you can run several accounts on one venue side by side. Equivalent ways to reach a market: await sdk . depth ( 'mexc_account1:spot:BTCUSDT' ) venue = await sdk . venue ( 'mexc_account1' ) await venue . depth ( 'spot:BTCUSDT' ) exchange = await venue . exchange ( 'spot' ) await exchange . depth ( 'BTCUSDT' ) market = await exchange . market ( 'BTCUSDT' ) await market . depth () Hold a Market reference in hot loops; use the scoped one-shot calls otherwise. Market Interface Public data: depth() -> Book depth_stream() -> AsyncContextManager[AsyncIterable[Book]] rules() -> Rules : tick/step size, fees, min/max, rounding helpers candles(interval, start, end) -> PaginatedResponse[Candle] : trade candles opening in [start, end) , with timezone-aware bounds and no ordering guarantee; CANDLE_INTERVALS says which widths a venue serves User data: query_order(id) -> OrderState | None open_orders() -> Sequence[OrderState] trades_history(start, end) -> AsyncIterable[Sequence[Trade]] trades_stream() -> AsyncContextManager[AsyncIterable[Trade]] position() -> Position available_notional() -> Decimal : max. notional you could open now Trading: place_order(order) -> OrderResponse place_orders(orders) -> Sequence[OrderResponse] cancel_order(id) cancel_orders(ids) cancel_open_orders() Perpetual markets: index() -> Decimal next_funding() -> FundingRate funding_rates(start, end=None) -> AsyncIterable[Sequence[FundingRate]] : market-wide rate history funding_payments(start, end) -> AsyncIterable[Sequence[FundingPayment]] : your own settled cashflows perp_position() -> PerpPosition : includes entry price Full reference: docs/market/index.md, with per-venue notes for dYdX, Hyperliquid, and MEXC. Mutating methods also take an optional settings dict for venue-specific options, keyed by venue: await dydx . place_order ( { 'type' : 'LIMIT' , 'qty' : 0.01 , 'price' : 60_000 , }, settings = { 'dydx' : { 'order_flags' : 'SHORT_TERM' , 'short_term_gtb' : 2 }}, ) Other SDKs Same account-mapping shape as MarketSDK : WalletSDK : deposit/withdrawal methods — docs/wallet.md : deposit/withdrawal methods — docs/wallet.md EarnSDK : yield instruments — docs/earn.md : yield instruments — docs/earn.md ReportSDK : balance/position history, with provenance — docs/report.md Every SDK object is an async context manager: call methods on it directly, or enter it with async with to close its connections at a point you choose. Details: Async Usage. Error Handling All errors subclass Error : NetworkError , ValidationError , ApiError ( BadRequest , AuthError , RateLimited ), LogicError . Context, Logging & Retries SDK calls are plain by default — no logging, no retries. Wrap them in a Context to add both: from tribulnation.sdk import Context , NetworkError , RateLimited ctx = Context () . retried ( NetworkError , RateLimited , max_retries = 5 ) . logged () with ctx . use (): await sdk . place_order ( 'mexc_account1:spot:BTCUSDT' , { 'type' : 'LIMIT' , 'qty' : 0.01 , 'price' : 60_000 } ) Retries back off exponentially and only wrap plain async calls, not streams or paginated history. Nested SDK calls each re-apply the active context, so retries can compound across scoping layers. Details: Context, Logging & Retries. License MIT

On-chain data suggests the June 2026 low tested Bitcoin holders far less than the 2022 bear market did Bitcoin’s large holders are back in the green. Small wallets, meanwhile, held up through the June …

On-chain data suggests the June 2026 low tested Bitcoin holders far less than the 2022 bear market did Bitcoin’s large holders are back in the green. Small wallets, meanwhile, held up through the June low better than they did during the 2022 bear market. A drawdown that didn’t break anyone Bitcoin’s June 2026 low landed somewhere between $58,500 and $70,000, depending on the measure used. At that point, roughly 51.4% to 55% of the circulating supply was still in profit. At the trough, around 10.2 million BTC were underwater before prices recovered. The standout cohort was wallets holding between 100 and 1,000 BTC. These mid-to-large holders kept unrealized profits through the June drawdown. They then accumulated significantly in the months that followed. Retail-sized wallets also avoided the deeper underwater positions that defined earlier downturns. Small holders did feel unrealized loss pressure. They simply did not capitulate in large numbers. Advertisement The realized price line held Bitcoin’s price did not close below its realized price during the 2026 drawdown, a first in the tracked history of its bear markets. Realized price works like a giant average receipt. It values each coin at the price it last moved on-chain, then averages the result across the whole supply. If market price falls below it, the typical holder is sitting on a loss. The news moving money, markets, and the world—before your day starts. Daily. Free. Join 34,000+ readers across crypto, finance, and policy. Email address Subscribe free We respect your privacy. Unsubscribe anytime. VanEck’s mid-2026 ChainCheck report noted a transition from early capitulation losses into an accumulation phase among larger players, with coins migrating from weak hands to strong hands. Profitability returns as prices climb By September and October 2026, Bitcoin had pushed toward the $80,000 to $87,000 range. Profitability metrics improved across every cohort category as a result. In September, single-day profit realizations hit approximately 25,700 BTC. Even so, small and mid-tier holders reportedly strengthened their positions through the period rather than heading for the exits en masse. Why 2022 looks so different The 2022 bear market pushed holders much deeper underwater, and retail wallets were hit especially hard. In 2026, small wallets stayed profitable at the June low, large entities recovered quickly, and the realized price floor held. What this means for investors Large holders appeared less inclined to distribute their coins during the downturn. The accumulation by 100 to 1,000 BTC wallets deserves particular attention, as this cohort continued buying after June, suggesting conviction rather than opportunistic flipping. The sharp acceleration in profit-taking, highlighted by that roughly 25,700 BTC day in September, could signal caution ahead. Heavy short-term profit realization can trigger corrections, even in an otherwise healthy market. Market participants will want to watch profit realization volumes, whale accumulation trends, and the distance between market price and realized price as key signals going forward.

Metaplanet sold 10,000 Bitcoin and later bought back 11,000 BTC to strengthen its credit profile and expand beyond accumulation during the third quarter. The Tokyo-listed company said it converted enough Bitcoin into cash during …

Metaplanet sold 10,000 Bitcoin and later bought back 11,000 BTC to strengthen its credit profile and expand beyond accumulation during the third quarter. The Tokyo-listed company said it converted enough Bitcoin into cash during the third quarter to exceed th… Metaplanet sold 10,000 Bitcoin and later bought back 11,000 BTC to strengthen its credit profile and expand beyond accumulation during the third quarter. The Tokyo-listed company said it converted e…