Hong Kong’s Securities and Futures Commission (SFC) and the Financial Services and the Treasury Bureau have expanded their regulatory cooperation, bringing virtual asset service providers and funds under the financial reporting regulatory framework.

According to market data from BIT (bit.com), U.S. pre-market crypto-related stocks are mostly lower, with MSTR down 1.51%, CRCL down 2.54%, COIN down 0.47%, HOOD down 2.18%, BMNR down 1.92%, SBET down 1.45%, and PURR down 1.95%.

Bitcoin mining firm Hut 8 announced it has closed a $1.07 billion four-year senior secured revolving credit facility, aimed at boosting parent-level liquidity, funding development of projects including AI data centers, and advancing its goal of securing an investment-grade corporate credit rating. The non-dilutive debt financing carries an initial interest rate of SOFR plus 175 basis points, which will later fluctuate between SOFR plus 150 and 200 basis points based on the company’s total debt-to-market capitalization ratio. Hut 8 can draw down and repay funds flexibly as needed, with no prepayment penalties. Additionally, the facility includes a $1.07 billion letter of credit sub-limit, usable to cover grid access deposits, utility and equipment supplier-related collateral requirements for project development, reducing cash collateral needs. JPMorgan Chase acted as lead arranger, bookrunner, and administrative agent for the financing, with Citigroup, Goldman Sachs, and Morgan Stanley serving as joint lead arrangers and bookrunners, and 12 total lenders participating.

According to Bloomberg, Citibank has partnered with Coinbase to launch stablecoin payment services for institutional clients.

On-chain investigator ZachXBT posted that Asian illicit actors suspected of laundering funds for North Korean attackers are openly soliciting assistance with services like fund transfers on their public Discord servers and Telegram channels, linked to the earlier $387 million Bitget hack. ZachXBT noted that the funds in question are currently being moved across blockchains via cross-chain bridges and deposited into mixers such as Wasabi. One individual labeled "Alias 4" was previously found to have participated in laundering funds from the earlier $292 million Kelp DAO hack this year. ZachXBT stated he has observed similar patterns following multiple attacks attributed to the North Korean hacker group TraderTraitor, is continuing to track the relevant group, and plans to release more investigation data in the coming weeks.

Bloomberg View columnist Jonathan Levin wrote that as the Federal Reserve resumes interest rate hikes, the U.S. Treasury market has shifted from previous concerns about fiscal deficits and long-term debt supply to pricing in expectations of prolonged high interest rates. Since Fed Chair Powell’s hawkish speech at Jackson Hole in late August, real yields on U.S. 2-year and 5-year Treasury Inflation-Protected Securities (TIPS) have risen by roughly 57 and 64 basis points respectively, indicating that the recent rise in U.S. Treasury yields largely reflects higher real rate expectations rather than a significant deterioration in inflation expectations. Since September, the yield on the 2-year U.S. Treasury has climbed by around 55 basis points, and the spread between 10-year and 2-year Treasury yields narrowed to roughly 17 basis points at one point, its lowest level since early 2025. Markets currently assign a roughly two-thirds probability to another Fed rate hike in October, and have priced in at least three 25-basis-point rate increases over the coming year. Meanwhile, the Fed’s continued rate hikes have created new pressure for U.S. Treasury Secretary Scott Bessent in managing the nation’s debt. The U.S. Treasury has previously relied heavily on short-term T-bills for financing and expanded its long-term Treasury repurchase operations to improve liquidity in the long-term bond market. Levin argues that this approach helps delay locking in higher long-term financing costs, but if the Fed keeps raising rates, frequent rollovers of short-term debt will also push up the government’s interest expenses. The Treasury thus faces a trade-off between extending debt maturities in the high-rate environment and continuing to rely on short-term financing, with the next quarterly refinancing plan set to be announced on November 4.

According to Bitget market data, U.S. WTI crude oil and Brent crude oil prices briefly fell nearly $0.8, currently at $94.21 per barrel and $100.34 per barrel. On the news front, Saudi Arabia’s East-West Pipeline has resumed oil exports.