Cryptocurrencies’ sudden tumble this week flushed out legions of speculators — and also, judging from blockchain data, the perpetrator of a giant hack.

Good morning. Higher bond yields, growing worries in China and a drop in cryptocurrencies. Here’s what’s moving markets.

Miami Mayor Francis Suarez says he has qualified for the first Republican presidential debate, but according to a person familiar with the Republican National Committee’s requirements, the campaign hasn’t yet met the thresholds for him to take the stage.

Bitcoin has had a sleepy summer. This week, it was shaken awake.

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A week after being jailed, FTX co-founder Sam Bankman-Fried is asking to be let out five days a week to work on his defense with his lawyers at the federal courthouse in Manhattan.

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North Korean leader Kim Jong Un oversaw the test-launch of a strategic cruise missile from a naval vessel, the country’s official Korean Central News Agency reported Monday, just as South Korea and the US are set to begin annual military exercises.

For years, cryptocurrency startups have tried to replicate parts of the US stock market on the blockchain for use by digital-asset investors around the world, often without worrying too much about getting approval from regulators first.

Bitcoin added to losses racked up during the token’s worst week since November last year as the prospect of higher-for-longer borrowing costs saps demand for riskier investments across global markets.

Addiction to captagon, an amphetamine-type pill nicknamed the “poor man’s cocaine,” has been a serious problem in Gulf Arab states — especially among Saudi Arabia’s youth, with one Saudi commentator speaking recently of a “devastating amount of poison” being…

Coinbase Global Inc., the biggest US crypto exchange, has taken a stake in stablecoin issuer Circle citing “growing regulatory clarity for stablecoins in the US” and elsewhere.

SoftBank’s Arm prepares biggest IPO of the year. Asia stocks set to climb after big tech rally. BHP profits plunge on China slowdown. Here’s what you need to know today.

In an era of soaring interest rates and intense competition, fintechs are increasingly deciding they need to become banks to ensure their longterm survival. They’re also finding that doing so isn’t easy.

Indian cryptocurrency exchange CoinDCX is reducing its staff by 12%, after the platform’s revenues were hit by an ongoing slump in virtual currency trading.

EDX Markets, the crypto exchange backed by Charles Schwab and Citadel Securities, is moving ahead with Anchorage Digital as its custodial partner.

Crypto exchange Binance.US has faced a series of legal and financial challenges as regulators have increased their scrutiny of crypto companies of all kinds. Now it’s teaming up with another embattled crypto firm in an attempt to regain access to a steady…

BNB, the cryptocurrency at the heart of the Binance exchange ecosystem, is approaching its lowest price level in more than a year as controversy swirls around the world’s largest digital-asset trading platform.

In this issue of the Bloomberg Crypto newsletter, Tanzeel Akhtar explains why a Bitcoin “first” failed to excite:

Bankrupt crypto lender BlockFi Inc. wants to block attempts by FTX and Three Arrows Capital to get back billions of dollars exchanged between the firms before all three companies unraveled last year.