Hyperliquid co-founder Jeff Yan stated at Blockchain Week in Korea that 24-hour uninterrupted trading is not the true advantage of on chain finance over traditional trading platforms. The core advantage of on chain finance is that users retain control and custody of funds, and self custody can reduce single point of failure in the event of problems with counterparties, intermediaries, or custodians. The transparency of on chain systems allows users to understand everything happening within the system.

Bloomberg ETF analyst Eric Balchunas stated that despite ongoing negative sentiment in the cryptocurrency market, setbacks in the CLARITY Act, and rising bond yields, Bitcoin prices are gradually rising, and ETF fund inflows are recovering to strong levels. This has left investors who are bearish on Bitcoin feeling frustrated and entering a longer dormant period. This is Eric Balchunas' personal judgment on the current market. (Source: Bloomberg)

At the opening of the US stock market, the Dow Jones Industrial Average rose 93 points, the Nasdaq rose 94 points, and the S&P 500 index rose 0.31%.

[Japanese Ministry of Finance Establishes On-Chain Correspondence Study Group to Explore Feasibility of Instant Settlement for Government Bonds] On September 30, the Japanese Ministry of Finance established an On-Chain Correspondence Study Group, focusing on the feasibility of instant settlement for government bond transactions. The first meeting is scheduled for October 8. Members of the study group include professors from the University of Tokyo and Waseda University, as well as private-sector strategists. The Bank of Japan and the Financial Services Agency will participate in opinion exchanges. The study group will reference U.S. blockchain MMF products based on government bonds as underlying assets and plans to complete the organization of discussion points within the year. (Source: Reuters)

The Federal Reserve Board of Governors passed the annual stress test revision with a vote of 6-1. Michelle Bauman, the Vice Chair of Regulatory Affairs at the Federal Reserve, stated that the reform has maintained the robustness of stress tests by ensuring that they are more transparent, refined, and risk sensitive. The two rules ultimately determined by the Federal Reserve are basically consistent with the rules proposed in 2025, and opinions are sought on a plan aimed at reflecting the differences in bank fee income business models.