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Edition · 2026-09-22
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Treasury Secretary Scott Bessent defended the U.S. economy by pointing to the dollar’s role in 89.2 percent of foreign-exchange transactions and the dominance of dollar-pegged stablecoins. He made the remarks as the 10-year Treasury yield hit 5 percent, a level not seen in more than a decade. Bessent said the administration’s bond buybacks were intended to improve market liquidity and manage debt maturities, rejecting suggestions that they were meant to suppress yields. He also highlighted record median household income, a historically low official poverty rate, continued employment growth and the Atlanta Fed’s 5.1 percent annualised estimate for third-quarter GDP. Bessent referenced Saudi Arabia’s exit from the China-backed mBridge digital currency platform, describing it as a win for dollar dominance. Saudi officials said the departure followed a planned trial and that the project continues elsewhere. The comments come amid rising concerns about U.S. Treasury yields and the structure of the nation’s debt. Bessent emphasized that the dollar remains central to global trade and finance, noting that most stablecoins are tied to the U.S. currency.
Bitcoin climbed to $84,984 in the late European morning, extending its break above the $82,284 peak recorded on September 4. The move followed the liquidation of $647.9 million in short positions over the past 24 hours, representing 95% of the $746.6 million total liquidated during that period, according to Coinglass data. This forced buying occurred as open interest in crypto futures rose 7.59% to $156 billion, suggesting traders are re-entering positions rather than exiting the market entirely. The price increase reflects heightened demand for leverage, with Bitcoin's total futures open interest surpassing 700,000 BTC for the first time in weeks. However, derivatives data also revealed warning signs: annualized perpetual funding rates approached 60%, indicating overcrowded long positions that could amplify volatility if sentiment shifts. Across the broader crypto market, 95 of the 100 CoinDesk 100 constituents rose, with AI-related tokens leading gains. Sui (SUI) surged 12.3% to $1.0073, while tokens associated with artificial intelligence and decentralized computing, including FET and TAO, posted double-digit percentage increases. Dogecoin and Avalanche also posted notable gains, with open interest rising alongside price movements. The rally coincided with modest increases in implied volatility indices for Bitcoin and ether, signaling expectations of continued but orderly price movement. Call buying dominated options markets, particularly on Deribit, where traders continued to target upside exposure. Despite the momentum, structural imbalances in derivatives positioning remain, with some assets decoupling from broader trends while showing signs of overextension.
The Eurosystem launched Pontes on Monday, granting banks a live route to settle tokenized assets using central-bank money. The European Central Bank (ECB) simultaneously began preparing to invest a small portion of its own funds in tokenized securities, with those purchases set to settle through Pontes. This dual role places the ECB at the center of Europe’s emerging tokenized-market infrastructure, simultaneously operating the settlement rail and planning to invest through it. Pontes links distributed-ledger market platforms with the Eurosystem’s existing TARGET settlement services, enabling tokenized securities transactions to finalize using central-bank money. An initial consortium including Deutsche Bank, Santander, Société Générale and the European Investment Bank has completed onboarding, alongside DLT operators such as Clearstream, Axiology, Cashlink and SWIAT. Additional institutions are expected to join over the coming months. André Dragosch, Bitwise Europe Head of Research, described the system as effectively the “digital euro made available for banks,” allowing financial institutions to settle tokenized transactions with each other while retaining central-bank money as the settlement asset. This characterization underscores Pontes’s potential role in wholesale markets, where access to risk-free settlement money has been cited as a key barrier to broader adoption of distributed-ledger technology. The Eurosystem’s 2024 DLT trials found that both public- and private-sector participants viewed this access as critical to expanding tokenized finance. The platform launches with a limited suite of services and will gradually expand functionality and operating hours, with full implementation targeted for 2028. The ECB has not yet recorded a completed live settlement since Monday’s launch, leaving transaction volume as the next indicator of whether the infrastructure gains traction beyond early adopters. In parallel, the ECB is preparing to make its first purchases on the new settlement rail. The planned investment program marks a shift beyond infrastructure provision, giving the central bank direct experience across trade execution, settlement, technology systems and portfolio management. Initial purchases will focus on euro-denominated tokenized securities issued by euro-area central governments, regional governments, agencies and European supranational institutions. The ECB noted that using Pontes will allow it to test the full transaction lifecycle without embedding the purchases into monetary-policy tools such as interest-rate adjustments or quantitative easing. The ECB’s own-funds holdings totaled €23.1 billion at the end of 2025, with government debt comprising 73% of the portfolio. The size of the tokenized allocation and the start date for purchases remain undisclosed, with the Executive Board to determine both after preparatory work concludes. These funds are managed separately from monetary-policy portfolios and generate income that supports the ECB’s operating expenses. Pontes also precedes Europe’s consumer-facing digital euro initiative. The ECB plans a 12-month retail pilot beginning in the second half of 2027, involving 36 payment-service providers, merchants and central-bank staff. A potential first issuance is targeted for 2029, pending approval of relevant legislation. The two initiatives reflect separate tracks for embedding central-bank money into digital infrastructure: one for wholesale markets via Pontes, and another for retail use through the digital euro pilot. Related developments include ongoing discussions about the role of public blockchains in the digital euro. The Financial Times reported in 2025 that European officials were evaluating networks such as Ethereum and Solana as potential technological options amid concerns over the growth of dollar-backed stablecoins. The ECB stated it was examining both centralized and decentralized technologies without reaching a final conclusion. For wholesale markets, Pontes offers a near-term solution while Europe develops Appia, a broader initiative aiming to establish an integrated European DLT financial ecosystem by 2028. The current phase now depends on transaction volume. Institutions already connected must decide which tokenized securities and workflows to route through Pontes, while additional banks and market operators consider joining in the coming months. The ECB’s eventual allocation will signal the pace at which Europe’s new settlement rail transitions from available infrastructure to an actively used market.
The White House revoked press credentials from CNN, Politico and MS NOW after President Donald Trump accused the outlets of publishing fiction about his administration.
By · 30d ago · Source: bbc
The White House revoked press credentials from CNN, Politico and MS NOW after President Donald Trump accused the outlets of publishing fiction about his administration. The three organizations filed a lawsuit in U.S. District Court on Monday, arguing that the ban violates the First Amendment by allowing the government to discriminate against media based on content. In a joint statement they said the revocation was carried out without notice or opportunity to respond, and that it threatens independent journalism. Trump, responding on his Truth Social platform, labeled the outlets "Third Rate Clowns" and "Crooked and Corrupt Press," and claimed the ban was warranted by "cumulative stories" over recent years. He added that further exclusions might follow, naming the New York Times and Washington Post as "fake news" sources. Major television networks, including ABC, CBS, Fox News and NBC, suspended pooled coverage of the president’s trip to the United Nations General Assembly, citing the administration’s refusal to allow CNN to fulfill its pool duties. The White House press pool, traditionally overseen by the White House Correspondents’ Association, was left vacant; instead, the conservative outlet Real America’s Voice was listed as a secondary crew. Several news organizations, such as the New York Times and Washington Post, announced they would not share images from the pooled events. The lawsuit seeks a court order to restore the credentials and to block enforcement of the ban. This is not the first instance of an administration attempting to limit press access; in 2009 the Obama administration briefly excluded Fox News from a pool interview but restored it after pressure from other networks. Unlike the current case, that exclusion was limited to a single interview. The White House has also pursued legal action against other outlets, including the BBC, and has previously barred Associated Press reporters over terminology disputes. The ongoing litigation underscores a broader conflict between the administration and news organizations over access to official information.
Bitcoin cleared $85,000 on Friday, triggering a rally that analysts say could carry the asset toward $87,000 and $90,000. The move stems from renewed buying in the spot market and a forced short squeeze, according to Nansen senior research analyst Nicolai Sondergaard. Data from Hyperliquid shows that the platform’s largest Bitcoin traders remain net short despite the price breakout, suggesting that some major participants have not fully embraced the recovery. Onchain exchange flows also raised caution, as Nansen recorded more Bitcoin moving onto exchanges than leaving them over the past two days, a pattern that can increase the supply available for sale.
Coinbase premium turned positive, and USDT/USD rose from 0.9991 to 0.9998, signaling renewed demand from U.S. investors and institutions. Analysts often use the premium to gauge buying interest from American markets. At the same time, stablecoin pricing moved closer to its dollar peg, which some interpret as evidence of genuine demand rather than a rally sustained solely by borrowed money.
The rebound follows two major setbacks earlier in the week. The Federal Reserve raised its benchmark rate by 25 basis points to 3.75%–4%, and the U.S. Senate failed to advance the CLARITY Act. Bitcoin briefly dipped into the mid-$75,000 range before recovering. Across September 15–18, U.S. spot Bitcoin exchange-traded funds lost about $746.3 million before attracting $159.5 million on September 17 and roughly $433 million on September 18. Friday’s inflows included $310.7 million for Fidelity’s FBTC and $108.4 million for BlackRock’s IBIT. Across the full five-session period, the funds recorded about $6.2 million in net inflows, nearly erasing the earlier withdrawals.
Technical indicators also turned favorable. More than $250 million in short positions were liquidated as Bitcoin crossed $78,000 and $80,000. The 4-hour Supertrend flipped bullish near $78,677, and the daily Relative Strength Index rose to 64.48. Bitcoin also moved above the middle line of its daily Bollinger Bands before testing the upper band, according to a September 19 technical report.
Nansen’s exchange-flow data still leaves a risk that Bitcoin deposited on trading platforms could return to the market if momentum weakens. Treasury yields near 5%, a firm dollar, and oil prices above $100 remain macro risks. Higher bond yields can raise returns from traditional fixed-income assets, while a stronger dollar can pressure assets priced in U.S. currency. Expensive oil may also keep inflation concerns active as Federal Reserve officials assess whether another rate increase is needed.
The Fed’s September hike followed a sharp rise in market expectations after attacks on Saudi infrastructure pushed oil about 11% higher over five days. A preview of the Fed decision noted that the institutional structure of the crypto market now differs from earlier tightening cycles because U.S. spot ETFs and corporate Bitcoin holdings have increased conventional market exposure. Bitcoin absorbed the rate increase and the failed CLARITY vote before rallying on Friday, which some analysts cite as evidence of resilience.
Flash U.S. purchasing managers’ indexes are scheduled for Wednesday, followed by jobless claims and new-home sales on Thursday. Several Fed officials are also due to speak, giving investors further clues about whether policymakers support a second increase during 2026. Friday’s quarter-end options expiry could add short-term volatility as traders settle contracts or adjust hedges.
ETF flows remain the more important signal, as persistent fund demand would show that U.S. investors are supporting the rally beyond the derivatives market. Outside Bitcoin, Nansen has detected selective demand for higher-risk areas such as lending, yield and real-world asset tokens. Ether’s performance against Bitcoin carries more value than its dollar price when judging whether demand is spreading through the market. The ETH/BTC ratio has remained in the low 0.03 range, limiting Ether’s relative appeal while Bitcoin continues to lead. A convincing rise in ETH/BTC, combined with sustained positive Ether ETF flows, would indicate that investors are becoming more willing to take risk beyond Bitcoin.
Nansen’s senior research analyst Nicolai Sondergaard said Bitcoin’s price has turned bullish faster than positioning has among crypto-native traders, creating room for underexposed market participants to chase the rally. He warned that the move would remain exposed to a reversal if ETF inflows weaken or U.S. Treasury yields climb again. Without spot and ETF follow-through, the advance could become another move led mainly by perpetual futures, leaving Bitcoin more exposed to sell-offs and geopolitical events.
The next level to look for would be $87,000, given $85,000 is broken and held, then $90,000 would be psychological and again some levels to look for around $92,000, Sondergaard said. Any move through the three levels will depend on continued spot buying and the absence of another sharp macro shock, according to the analyst.
Read more: Bitcoin Core 32 enters final testing ahead of Oct. 10 release
The White House moved to bar journalists from CNN, Politico and MSNBC from its grounds, prompting a coordinated response from several major television news organizations.
The decision followed a lawsuit filed by the three outlets on Monday, which argued that the administration’s action violated the First Amendment. In retaliation, a coalition of broadcasters — including ABC, CBS, Fox News and NBC — announced they would suspend their participation in the White House press pool, a group that traditionally shares video and still‑image coverage of presidential activities.
As part of the suspension, the networks agreed not to broadcast any footage from the president’s scheduled midday ribbon‑cutting ceremony for a new helipad. The White House had provided a livestream of the event, but without professional audio equipment the president’s remarks were drowned out by the sound of a nearby helicopter.
The administration justified the bans by claiming that the targeted outlets produced “purposely negative stories” and that the restrictions were necessary for “national security.” On Saturday, Secret Service agents confiscated press badges belonging to reporters from the affected organizations.
In a joint statement, the five television networks — CNN, Fox, NBC, CBS and ABC — emphasized that the public has a right to receive independent information about government actions. They added that no administration should be allowed to limit a news organization simply because it disagrees with its reporting.
Other news outlets, including the Washington Post, the New York Times and the Associated Press, said they would refrain from publishing photographs taken by the White House’s own photography pool until after midnight Eastern Time, as a show of solidarity with the barred outlets.
The lawsuit filed by CNN, Politico and MSNBC seeks a temporary injunction to block the enforcement of the ban and to restore access to the White House for their journalists. The administration, in a post on its Truth Social platform, defended the restrictions as a response to alleged “national security” concerns rather than an attack on press freedom.
The situation remains unresolved, with the White House continuing to enforce the restrictions while the legal challenge proceeds.
The episode underscores the growing tension between the administration and certain media organizations, and raises questions about the future of traditional pool coverage, which has been a staple of presidential reporting since the 1950s.
The broader debate over press access and the role of independent journalism continues to unfold across multiple platforms and legal channels.
A fiber-optic cable cut by a railroad construction crew disrupted communications at a Federal Aviation Administration facility in Philadelphia on Monday, halting flights at several major northeast airports. The primary communications line failed in the morning, and when the system attempted to switch to a backup, workers discovered the fiber had been severed. The backup was restored by evening, allowing operations to resume.
Transportation Secretary Sean Duffy announced the restoration on social media, urging travelers to verify flight status with airlines. Affected airports included Newark, LaGuardia, John F. Kennedy, Philadelphia, and Boston. The incident mirrored a similar disruption in spring 2025 at Newark, also tied to the Philadelphia facility.
The FAA attributed the cable cut to a New Jersey Transit construction crew working between Newark and New Brunswick. Amtrak initially pointed to the same project but later clarified responsibility lay with the transit agency. The outage coincided with a Government Accountability Office report highlighting unaddressed vulnerabilities in aviation communication systems. The report found that two text messaging systems used to communicate with aircraft predated modern cybersecurity standards and lacked encryption, leaving them susceptible to spoofing, jamming, and interference.
Senator Ron Wyden of Oregon called the findings a "major threat" to national security, urging the FAA to establish new security standards. The GAO recommended nine measures, including risk assessments, continuous monitoring, and improved guidance on interference threats. The Department of Transportation confirmed agreement with all recommendations.
The report noted parallels with incidents in Europe, where Russia has been accused of GPS jamming in Estonia and Finland. The FAA manages over 44,000 daily flights and serves approximately 3 million passengers, underscoring the systemic implications of such vulnerabilities.
This incident is part of a series of operational challenges at Newark Liberty International Airport, including a spring 2025 outage that temporarily disabled controller displays and required a temporary rerouting of air traffic management systems.
Major U.S. news networks announced on Monday that they would suspend live television coverage of presidential events following a White House directive that barred CNN, Politico and MSNBC from accessing the administration’s premises. The coordinated move, confirmed by ABC, CBS, Fox News and NBC in a joint statement, emphasized that “the public has a vital interest in receiving accurate, independent information about its government. No administration should restrict a news organization because it objects to its reporting.”
The networks, which together form the White House television press pool, cited the administration’s Friday ban on CNN as the catalyst for their decision. In response, CNN, Politico and MSNBC filed a lawsuit in federal court on Monday, alleging violations of the First Amendment’s free‑press clause and the Fifth Amendment’s due‑process guarantees. The lawsuit contends that the bans constitute an unconstitutional restriction on journalists’ ability to report on government activities.
White House pool operations are administered by rotating assignments among the five pool outlets. On Monday, CNN had been scheduled to serve as the pool’s television provider and was set to accompany the president on a trip to New York City for the United Nations General Assembly. The White House had previously listed Hearst Corp. as the secondary pool crew in Washington and Real America’s Voice as the secondary crew for the New York leg of the trip. While secondary crews may pose questions during pool events, they do not supply the full reporting package that other outlets rely on.
Later on Monday, President Trump participated in a ribbon‑cutting ceremony for a newly constructed helipad on the White House lawn. Audio from the event was largely inaudible, prompting a Newsmax reporter to attribute the poor sound quality to the lack of pool access. The Associated Press confirmed the ban on CNN, Politico and MSNBC and reported that no network travel pool would accompany the president for upcoming engagements, including the United Nations visit and a scheduled meeting with Chinese President Xi Jinping. The president’s earlier expenditure of up to $875,000 on the helipad’s construction has drawn attention amid the coverage dispute.
The networks’ joint statement underscored a broader concern about press freedom, noting that “no administration should restrict a news organization because it objects to its reporting.” The situation remains unresolved, with legal proceedings ongoing and the future of pool coverage uncertain.
A three-judge panel of the 8th U.S. Circuit Court of Appeals ruled Monday that Missouri may use the congressional districts drawn by Republicans with former President Donald Trump’s endorsement for the November 2026 election, even though the U.S. Supreme Court previously blocked their use. The decision reverses a lower-court order that had required the state to revert to the previous map for the general election, stating that doing so would violate the Constitution. The appeals court directed a district judge to issue a permanent injunction against any alternative map but delayed enforcement for one week to allow an appeal. Opponents of the map announced they will seek an emergency stay from the Supreme Court. The Supreme Court has twice rejected the Trump-backed map and had earlier halted its implementation pending review. Missouri officials have already mailed absentee ballots to overseas and military voters using the contested districts, and state law mandates that those ballots remain valid even if district boundaries change. County election officials warned that altering the map at this stage would be impractical and costly. Lawyers for Republican supporters, including Representative Bob Onder and Senator Rick Brattin, argued that late changes are permissible in similar cases. The panel, composed of Judge James Loken and Trump appointees David Stras and Justin Smith, cited precedent allowing post‑ballot adjustments. The advocacy group People Not Politicians, which placed the map on the November ballot via referendum, plans to appeal the ruling to the Supreme Court, stating that thousands of voters have already cast ballots and further legal maneuvers would waste public funds.
Several of the nation's largest left-leaning voter engagement and racial justice organizations are confronting steep funding shortfalls and staffing reductions as the 2024 midterm election cycle begins, potentially limiting their ability to register voters and protect the ballot.
America Votes, a coalition that coordinates efforts among more than 400 progressive groups including the NAACP, Planned Parenthood, the League of Conservation Voters, the AFL-CIO and SEIU, has fallen "well below" the funding levels it held during the 2022 midterms, according to executive director Daria Dawson. The organization serves as a central hub for voter mobilization work across labor, climate, civil liberties and racial justice sectors.
"There is still time to reach voters and bring them into this election, but we are no longer talking about a future opportunity," Dawson said. "The window to engage them is open now, and it is narrowing every day."
The funding challenges come amid broader donor pullbacks from liberal causes following the 2024 presidential election. Wealthy contributors and philanthropic institutions have reduced support for voting rights groups, particularly those focused on communities of color. Some donors have expressed interest in alternative strategies, a shift that racial justice organizers have described as a betrayal.
"We are watching surrender, not strategy," said Esosa Osa, a Democratic strategist and founder of Onyx Impact, a research organization tracking misinformation in Black communities. The Supreme Court's 2023 decision to weaken a key provision of the Voting Rights Act has heightened concerns about election integrity, Osa added.
A July memo circulated among Democratic fundraisers noted that "organizations that registered and persuaded millions of voters to participate in the 2018 and 2022 midterms are drastically underfunded," having raised nearly 40% less than at comparable points in previous cycles. The memo emphasized that funding voter mobilization efforts is critical "given that the Democratic brand is underperforming on generic ballot tests relative to historical comparisons and the president's approval ratings."
The Democratic National Committee has responded by consolidating voter engagement operations and citing "historic investments" in organizing, though it has not directly addressed the vulnerabilities of allied groups. DNC spokesperson Angelo Fernández Hernández stated the party is expanding voter protection infrastructure and preparing to register and mobilize voters nationwide.
Funding declines have forced some organizations to scale back operations. For example, the Latino-focused initiative Vamos a Votar has adjusted its goals due to insufficient investment, and a coalition of civil rights groups previously sought $27.5 million in voter engagement funding but still required $5.4 million to support efforts across 10 states and 17 House districts.
Smaller budgets have prompted shifts in strategy, including greater reliance on artificial intelligence for voter registration tools, multilingual outreach and election monitoring. Some groups are partnering with ride-sharing companies to offer free transportation to polling places and increasing collaborations with liberal content creators on social media.
"In my more than 30 years of organizing, it has never been this bad to raise money to support Black causes of any kind," said Melanie Campbell, president of the National Coalition on Black Civic Participation. "We're going to do the work, our state affiliates are doing all that is possible. ... But the bottom line is that those who believe that democracy matters should make sure they fund the work."
The situation reflects broader concerns about the sustainability of grassroots voter mobilization efforts in the current political and funding environment, with organizers warning that reduced resources could impact turnout in key battlegrounds ahead of the November election.
This edition was assembled from neutral, full-length rewritten articles of the day's aggregated news.
Why it matters: Every article was reviewed for loaded language, partisan framing, and missing attribution before publication.
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