Point of View: The Federal Reserve Has Over-Eased, with a 65% Chance of Stagflation in the United States

Nasdaq-listed crypto/blockchain firm Cipher Digital (CIFR) plans to raise $850 million by issuing zero-coupon convertible notes to support its Barber Lake project and expand its high-performance computing (HPC) data center business. In an October 13 announcement, the company said the private placement could be upsized to up to $1 billion if initial purchasers exercise their option to buy an additional $150 million in notes. Additionally, Cipher plans to exchange some of its existing convertible notes—carrying a 1.75% coupon rate and maturing in 2030—for common stock. The financing comes after the firm adjusted development plans for its Barber Lake project in Colorado City, Texas; those changes extended the project’s contract term while increasing Cipher’s construction costs. In September, Cipher noted an agreement with Fluidstack and an unnamed AI lab would extend the facility’s lease term from 10 years to 20 years, lifting contracted revenue from $3.8 billion to over $9 billion.

U.S. weekly ADP employment change for the week ended September 26 stood at 24,750, with the prior figure at 23,750. (Jinshi)

Binance co-founder He Yi announced in a post that Binance AI is now fully launched, welcomes feedback, and will continue to optimize and iterate.

According to Onchain Lens monitoring, over the past hour, BlackRock’s ETF wallet transferred Bitcoin and Ethereum worth approximately $202.54 million to Coinbase Prime, including 860.393 BTC (valued at around $71.54 million) and 52,488 ETH (valued at roughly $131 million).

Citigroup's third-quarter revenue came in at $23.85 billion, exceeding market forecasts of $23.72 billion. The bank posted earnings per share of $2.85 for the third quarter.

Pittsburgh-based investment management firm Federated Hermes (FHI), which oversees $911 billion in assets, plans to launch its first tokenized fund shares early next year, joining Wall Street’s wave of bringing traditional investment products to blockchain. The company said Tuesday it has partnered with New York-based digital securities infrastructure provider Prometheum to offer its upcoming product to investors via traditional brokers and financial advisors. Federated Hermes has not yet disclosed the specific funds it plans to tokenize or the blockchain it will use. Kevin Barr, the firm’s director of digital asset products and platforms, told reporters that money market funds are likely to be among the first tokenized products.