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Bitcoin
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Affairs
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No. 154 · 28 Oct 2026
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MARKET SNAPSHOT
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BTC / USD
$80,623
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24H CHANGE
+0.6%
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ALL-TIME HIGH
$124,749
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FROM ATH
-35.4%
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Fed pause expected, but Warsh’s tone could reset bitcoin risk appetite
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The Federal Reserve is expected to leave its benchmark rate unchanged on Oct. 28 even as inflation has reaccelerated and oil-price pressure from the Iran war complicates the outlook. Kevin Warsh’s press conference matters more than the hold itself because markets are still watching for signs that a December hike remains the base case, a key signal for bitcoin and other risk assets.
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| Fed Rates Macro |
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Bessent casts crypto as strategic dollar tool after Congress stalls federal rules
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Treasury Secretary Scott Bessent said U.S. leadership in digital assets could reinforce the dollar’s global role and argued Treasury can work with the SEC and CFTC to clarify rules after Congress failed to pass a federal crypto framework. He also called for safeguards against banks cutting off services to digital-asset firms, reinforcing a more integrationist policy tone from Washington.
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| Regulation Macro |
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Itaú becomes first Brazilian bank to formalize crypto brokerage under new rules
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Itaú Unibanco told Brazil’s central bank it had formalized its crypto trading and custody business ahead of the Oct. 30 compliance deadline. The move makes Brazil’s largest private lender the first bank to lock in crypto brokerage status under the country’s new regime, and the platform already offers 15 assets including BTC, ETH and USDC.
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| Regulation Macro |
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Google unveils MPC custody push as private-key theft risks stay central
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Google said several major financial institutions are testing a new multi-party computation service designed to secure and move crypto and tokenized assets, with broader availability targeted for early 2027. The system splits signing authority across separate environments, highlighting how institutional crypto infrastructure is shifting toward defense against credential compromise and private-key theft.
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COMMENTARY
VOICE FROM THE NETWORK
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In partnership with
Central banks bought the gold dip. Did you?
From 2002 to 2010, central banks sold a net 134 million ounces of gold. Since then they have bought all of it back, and another 111 million ounces on top.
In the second quarter of 2026, they added 289 tonnes while gold fell 14%. Falling prices used to scare official buyers off. Now they buy the dip.
Our research team's free report, Central Banks Bought the Gold Dip. Did You?, shows who is buying, what they are selling to pay for it, and why the team expects the buying to continue.
⚠️ DATA BREACH ALERT: Coinbase customer contact information exposed in security incident at analytics provider Amplitude.
Hackers have allegedly accessed contact information belonging to more than 70,000 Coinbase users.
Coinbase confirms there is no evidence of unauthorised access to its own systems but its analytics vendor Amplitude experienced a security incident which impacted customer contact data.
While all customer funds remain unaffected, Coinbase is notifying impacted customers and regulatory agencies accordingly.
138 reposts 82 replies 577 likes
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Coinbase has not had a data breach.
Amplitude, an analytics vendor, experienced a security incident which impacted a small subset of Coinbase customer contact data, among other Amplitude customers.
We’ve found no evidence of unauthorized access to Coinbase systems, and customer funds were not impacted.
We are notifying impacted customers and regulatory agencies in accordance with our legal obligations.
96 reposts 92 replies 656 likes
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🚨 TODAY IS A BIG DAY FOR CRYPTO.
FOMC rate decision at 2:00 PM ET.
Warsh press conference at 2:30 PM ET.
Markets are pricing a 93.4% chance of a pause and 6.6% chance of a hike.
Two scenarios:
• If Warsh sounds dovish, we pump.
• If he hints at more hikes, we dump.
Expect volatility.
130 reposts 130 replies 1.3K likes
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It's officially Fed day.
We expect a "hawkish pause" today.
The Fed will hold interest rates unchanged but lay the groundwork for a December rate hike, bringing total rate hikes in 2026 to +50 basis points.
Why?
Because the US economy is now facing both supply-side and rising demand-side inflationary pressures, while the labor market continues to weaken beneath the surface.
This puts the Fed in an increasingly difficult position: Inflation is demanding tighter monetary policy, while underlying labor market weakness is calling for the opposite.
We expect the Fed to prioritize inflation today, keeping the door open for further tightening in December.
72 reposts 93 replies 828 likes
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BREAKING: 🇺🇸 Google is launching a new security system to help banks and institutions protect their crypto from hackers. https://t.co/98ToLDilug
94 reposts 83 replies 718 likes
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🇺🇸 HUGE: US Treasury Secretary Scott Bessent says America is "going to win" in crypto.
"We are going to win in the digital asset stack," Bessent told Ripple's Swell conference.
The Treasury Secretary thinks that will "continue to fortify the dollar."
With over 90% of stablecoins backed by US dollars, he sees them as "an important source of funding for the Treasury."
Bessent called Congress's failure to pass the CLARITY Act a disappointment, but says Treasury could work with the SEC and CFTC instead.
221 reposts 75 replies 1.5K likes
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