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

S&P Global Ratings has unveiled the Vault Risk Assessment (VRA), a risk evaluation framework for on-chain lending vaults, applicable to vaults that provide liquidity to blockchain lending markets collateralized by crypto assets or tokenized real-world assets (RWA). The VRA will comprehensively assess factors including underlying asset credit risk, protocol and blockchain risks, vault operator risk, and liquidity, using rating symbols such as AAA(v), where AAA(v) represents the lowest risk. S&P emphasized that the VRA is not a traditional credit rating, nor does it evaluate vault yields or guarantee their credit quality.

According to Bitget's market data, the Nikkei 225 index opened higher and rallied throughout Monday, posting an intraday gain of 2.00%, with electronics and machinery stocks leading the advance.

Aptos Governance Proposal #206 is currently in voting, proposing to activate ChunkyDKG V1 full mode and the encrypted_transactions feature. The mechanism enables encrypted transactions via distributed key generation: it hides transaction content before they enter consensus ordering, with validators collaborating to decrypt them afterward, helping mitigate front-running and MEV risks. Voting on the proposal closes on October 6. As of now, yes votes account for nearly 100%, but voter turnout stands at only 2.69%, falling short of the 24.8% quorum requirement.

According to Tokenomist data, this week, large token unlocks are scheduled for tokens including ENA, HYPE, APT, and others. Details are as follows: - ENA: Tokens worth approximately $41.51 million will unlock on October 5, accounting for 1.88% of its circulating supply - HYPE: Tokens worth approximately $339 million will unlock on October 5, accounting for 1.69% of its circulating supply - AERO: Tokens worth approximately $3.53 million will unlock on October 8, accounting for 0.30% of its circulating supply - MOVE: Tokens worth approximately $1.68 million will unlock on October 11, accounting for 3.80% of its circulating supply - LINEA: Tokens worth approximately $1.38 million will unlock on October 10, accounting for 1.46% of its circulating supply - IO: Tokens worth approximately $2.31 million will unlock on October 11, accounting for 3.20% of its circulating supply - APT: Tokens worth approximately $9.06 million will unlock on October 11, accounting for 0.64% of its circulating supply

According to GoPlus Security Team, an unclaimed treasury contract on the Base blockchain was hacked. Attackers added a malicious contract to the lending whitelist via Safe multi-sig, withdrew 1,783 aBaswstETH and redeemed roughly 1,783 wstETH on Aave V3, causing a loss of about $6 million. The attack originated from failures in multi-sig governance and access control: the project team had not performed Safe transactions for the treasury contract in the 25 days before the hack, likely due to a social engineering attack or internal collusion. Aave’s core contracts and the Base blockchain itself were not impacted. As of press time, approximately $31.7 million in assets held in the hacked treasury remain at risk.

This weekend, tensions between Saudi Arabia and Yemen’s Houthi militants have escalated, while Trump has repeatedly hinted at further actions against Iran, raising fears of a wider Middle East conflict. However, early Monday, boosted by cooling expectations of a Federal Reserve interest rate hike, U.S. stock index futures edged higher, with Nasdaq 100 futures rising 0.3%. Bitcoin also accelerated its rebound after U.S. futures opened, potentially retesting the $87,000 level. As of press time, per HTX market data, Bitcoin is trading at $86,371, with a 24-hour gain of 1.35%.