Bitcoin falls below $84,000

Open Standard announces the official launch of its U.S. dollar stablecoin OUSD, enabling enterprises and developers to build internet-native financial services and products—such as banking, cross-border payments, settlements, and institutional transactions—using OUSD. OUSD currently offers four integration paths, with related APIs and tools covering settlement, payment orchestration, trading, foreign exchange conversion, wallets, and bank card services. All channels support the free minting and burning of OUSD at a 1:1 U.S. dollar exchange rate. Enterprises can now integrate via Mastercard, Stripe, and Visa Stablecoin Platform; Coinbase integration will open on October 1. OUSD natively supports Base, Ethereum, Solana, and Tempo, and will first be listed on centralized and decentralized trading platforms including Coinbase, Kraken, and Uniswap. Issued by Bridge, a subsidiary of Stripe, OUSD’s reserve assets are held at BlackRock, Lead Bank, and The Bank of New York Mellon, with reserve proofs published monthly. Open Standard currently boasts over 200 partners spanning financial institutions, fintech companies, banks, and global enterprises.

Bank of Montreal analysts noted in a research report that annual benchmark revision data from the U.S. Bureau of Economic Analysis (BEA) shows the U.S. Federal Reserve’s preferred inflation gauge was revised down more than expected, though inflation remains far above the Fed’s 2% target. The August core Personal Consumption Expenditures (PCE) price index rose less than anticipated, with year-over-year growth slowing to 3%—lower than the market consensus of 3.3% and the Fed’s own estimate of 3.2%. The economy is still expanding, and private sector hiring has held steady. Analysts believe these factors, paired with the downward inflation revision, have somewhat eased the urgency of another interest rate hike in October.

Solv Protocol has issued a clarification on the recent BTC+ redemption incident that sparked public discussion, stating that BTC+ deposit and redemption mechanisms are currently operating normally. The incident is an isolated case: a specific transaction triggered the protocol’s risk review, and it does not affect BTC+’s overall deposit and redemption functions. Assets related to the incident remain safe and intact within the protocol, with no transfer, destruction, or other disposal. The matter is under review in accordance with established risk management processes. The protocol will handle the incident based on verifiable information and evidence, rather than making judgments solely based on social media identities or one-sided public statements. If necessary, Solv Protocol will cooperate with legal counsel or pursue relevant judicial procedures to further verify the situation. Solv added that it will not respond to future public discussions based on online identities or similar cases, and will continue to prioritize asset safety and the normal operation of BTC+. Earlier, X user @neillee99 posted that he withdrew approximately 50 BTC from Binance on July 8, converted it to SolvBTC and BTC+ via standard processes to earn an annualized return of around 3%. BTC+ subsequently suspended minting and redemption; Solv Protocol announced the resumption of these functions on July 31, but the user claimed his address remains restricted and his related assets have not been redeemable to date. The user noted he has submitted proof of fund sources, transaction records, and wallet control, with his demand being the lifting of the address restriction.

US Senate Majority Leader Thune stated that Congress may raise the debt ceiling after the midterm elections.

According to Bloomberg, MSCI has launched a series of new indices to help investors more precisely allocate or hedge risk exposures across different segments of the AI supply chain. The indices cover physical infrastructure, digital infrastructure, and the application layer that brings AI to real-world use, enabling investors to target specific segments instead of placing a one-way bet on the entire AI sector. Jana Haines, MSCI’s Head of Index Business, stated that investors are seeking more specific risk exposures across dimensions including industry, company size, and country, and aim to segment these exposures based on their portfolio requirements. However, these indices do not address how retail investors can hedge their growing AI exposure via retirement accounts, as index hedging and speculative strategies are generally not suitable for ordinary investors. Bain & Company estimates that by 2031, the industry will need to generate $6 trillion in annual revenue to support the AI infrastructure currently under construction, while existing applications are projected to only produce $1.2 trillion by that time. New search engines, autonomous vehicles, and yet-to-emerge applications may fill part of the gap, but a revenue shortfall of trillions of dollars is still expected.

The U.S. Treasury Department said it will buy up to $60 billion in 10- to 20-year U.S. Treasury bonds as part of its liquidity repurchase operation on October 1.