BTC falls below the $94000 mark

[Federal Reserve Adjusts Bank Supervision Approach and Plans to Reduce Number of Regulators] The Federal Reserve has released a three-page memorandum detailing new expectations for bank examiners, requiring them to focus on significant financial risks and limiting the scope of oversight on other matters. These adjustments may narrow the scope of work for Federal Reserve examiners. Federal Reserve Governor Bowman plans to reduce the number of regulatory personnel by 30% over the next year. The adjustments are expected to impact the Federal Reserve's approach to bank supervision in terms of overall stability but will not alter its limited regulatory efforts regarding consumer protection and fair lending laws for small banks.

The U.S. Office of the Comptroller of the Currency explained to the national banks it oversees how they can hold crypto for paying gas fees.

The bond uses Broadridge Financial Solutions' tokenization technology and runs on the Canton Network, a privacy-enabled blockchain infrastructure.

[Sonnet Postpones Merger Vote to December 2] U.S. publicly traded company Sonnet Biotherapeutics has postponed its merger vote to December 2. Previously, on July 14, Sonnet Biotherapeutics agreed to a merger deal valued at $888 million. After the merger, the company will be renamed Hyperliquid Strategies and will launch the HYPE treasury strategy. The merger target is Rorschach I LLC, a newly established entity sponsored by Atlas Merchant Capital LLC, Paradigm Operations LP, and other affiliated entities and sponsors. Upon completion of the transaction, Hyperliquid Strategies is expected to hold 12.6 million HYPE tokens and $305 million in cash, with a total valuation of approximately $888 million. The company will continue to trade on Nasdaq, with its stock code changing to reflect its status as a publicly listed cryptocurrency treasury company.

[Obex Completes $37 Million Financing, Focuses on RWA-Collateralized Stablecoin Incubation] Crypto incubator Obex announced the completion of $37 million in financing, led by Framework Ventures, LayerZero, and the Sky ecosystem. Obex aims to incubate and fund yield-generating stablecoin projects, focusing on stablecoin strategies collateralized by high-quality real-world assets (RWA) and adopting institutional-grade risk control standards. Obex will act as the capital allocator for the Sky ecosystem, which has authorized the deployment of up to $2.5 billion USDS to qualified projects incubated by Obex. Framework Ventures co-founder Vance Spencer stated that Obex will offer a 12-week incubation program, providing early-stage teams with capital, technical resources, and access to Sky infrastructure.