🚨 American Express plans to eliminate around 3,850 jobs—about 5% of its global workforce—as it streamlines operations and gets ready for AI, its CFO says.

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🇮🇱 UPDATE: Israeli Prime Minister Benjamin Netanyahu says he has asked officials to prepare a plan for using cryptocurrency to get around potential banking sanctions.

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🚨 The crypto market has shed more than $200 billion in total value in under a month.

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🔥 BREAKING: Spot Bitcoin ETFs saw $635.6M in outflows in a single day—their largest withdrawal since June.

BlackRock’s $IBIT accounted for $254.1M of it.

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🇬🇧 REGULATION: The UK’s FCA has warned DeFi projects that calling an app “decentralized” doesn’t automatically shield it from regulatory oversight.

The regulator says there’s no legal definition of “true DeFi.”

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HAYES: “I sold everything.”

Arthur Hayes has sold $26 million worth of crypto, including 8,000 $ETH. He thinks prices need to fall further before the market can bounce back.

What are you doing?

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🔥 Ethereum has hit a new milestone: Over 36% of all $ETH is now staked, the highest proportion of the total supply ever recorded.

More holders are opting to stake their ETH instead of selling.

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⚡ UPDATE: Tether’s open-source mining toolkit now has the backing of 15 leading Bitcoin mining companies, including Bitmain, MicroBT, and Foundry.

The vision for the future: AI agents operating mining farms.

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🔥 JUST IN: Pump.fun has overtaken Hyperliquid, generating $1.98M in the past 24 hours compared with Hyperliquid’s $1.96M.

Memecoins are back in the money.

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⚡ Fidelity’s Zack Wainwright says Bitcoin took nearly 16 years to hit $100K, but the journey to $200K could be much faster.

BTC is already up almost 50% from its June low of around $58K, he notes.

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🔥 Morgan Stanley is increasing TeraWulf’s credit facility from $250M to $400M—a 60% jump.

As the company pivots from mining to AI data centers, it continues to attract financing from Wall Street.

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🇮🇱 MAJOR: The Bank of Israel has rejected Netanyahu’s proposal to use cryptocurrency to circumvent sanctions, stating that it “cannot be used to bypass sanctions.”

Netanyahu responded: “I hear them, but I do what I believe is right.”

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🔥 NEW: Nearly 60% of stock-token trading on Robinhood Chain takes place outside traditional market hours, according to Entropy’s Tom Wan.

Weekend trading alone exceeded $532 million in just one month.

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🇪🇺 LATEST: The ECB says the digital euro is a matter of “sovereignty.” A pilot is planned for next year, with a possible launch as early as 2029.

Today, non-European companies handle two-thirds of card payments across the euro area.

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🚨 JUST IN: Solana added $22M in euro-backed stablecoins last week, outpacing every other chain on Token Terminal’s list combined.

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🔥 Tom Lee says 99% of finance still relies on outdated infrastructure, making it difficult for banks to keep pace with crypto’s rapid evolution.

Banks without a crypto strategy risk falling behind.

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🇰🇷 Goldman Sachs has cut its KOSPI target by 25%, lowering it from 12,000 to 9,000.

The index is down more than 35% from its June peak as excitement around AI trading cools.

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