According to Jin10, Iraq's military said Iraq agreed to Iran's request to jointly investigate whether there are drone launchers along the two countries' border.

The Federal Reserve looks increasingly likely to raise rates next week after Friday's hot core CPI reading. Markets have had time to prepare, which raises the question of how much bite a hike still carries.Core CPI rose 0.3% in August against the 0.2% economists expected. Headline inflation rose 0.4% on the month and 3.4% from a year earlier, both in line.Bitcoin rose following the report, trading at $78,600, up 1.5% over 24 hours.The Asymmetry Runs the Other WayJoel Kruger, global markets strategist at LMAX Group, said traders were already leaning toward a hike before the numbers landed."A good deal of the hawkish risk is arguably priced in," he said.That leaves a muted response likely if the Fed delivers what everyone expects. The larger move sits on the other side."We see greater potential for an outsized move in risk assets to the topside should the Fed ultimately fail to deliver on these hawkish expectations," Kruger said.That inversion is worth holding onto through Wednesday. A hike is the base case and largely absorbed. A hold would be the surprise, and surprises move markets more than confirmations.History Argues a Hot Core Print Is Not Automatically BearishMatt Mena, senior crypto research strategist at 21Shares, does not treat a hike as an automatic problem for Bitcoin.He said Bitcoin has gained an average 2.13% over the 30 days following hotter-than-expected core CPI readings.Mena also pointed to gains in ether and Solana as evidence traders have not backed away from crypto risk. Ether traded at $2,532.49.The sample carries the usual caveat — averages across a small number of episodes describe tendency rather than expectation, and the current combination of an energy shock and multi-year-high yields is not typical of the prior instances.Connors: Both Arms of Policy Have Been Tested and Both MovedMark Connors, CIO at Risk Dimensions, offered the week's most structurally significant framing."The market has now challenged both sides of policy," he said. "Bessent went first. Even tripling Treasury buybacks hasn't tamed the long end. Now, Warsh, after talking disinflation, is being forced towards higher rates."Connors had previously argued that softer inflation measures could give Chair Kevin Warsh room to hold. Friday's data changed that.The two halves of the observation reinforce each other. Treasury Secretary Scott Bessent expanded long-duration bond buybacks repeatedly and yields rose across the curve anyway — the 10-year closed at 4.974%, up from 4.783% a week earlier and roughly 4.75% when Bessent first said long-dated yields were too high. The most recent operation drew $10.5 billion in tenders and Treasury accepted $5.2 billion, below its own ceiling.Warsh, meanwhile, spent Jackson Hole rejecting forward guidance and is now being pushed toward a decision by a single data release.Connors reads the yield move as investors worrying about more than where the Fed sets rates next week.The Debasement Case Explains Bitcoin's ResilienceHigher rates would normally pressure Bitcoin by making yield-bearing assets more attractive. Connors argues the current configuration allows both to be true at once.If yields are climbing because investors are worried about inflation, government debt and policy credibility, then Bitcoin and gold can trade as alternatives simultaneously. He noted both rose following Friday's data."We can't print oil, and you can't debase bitcoin," Connors said.That framing matches the correlation data. Bitcoin's 90-day correlation with the 10-year Treasury yield sits at −0.17 against gold's −0.41, meaning a rising yield barely dents it while gold responds more than twice as strongly.It also carries a limit the quote does not address. The same distinction cut against Bitcoin earlier in the week, when it fell alongside gold as yields surged and the dollar firmed. The fiscal-versus-growth channel is not a permanent support — it operates when the fiscal reading dominates, and the rate channel has repeatedly overwhelmed it.Fitch and Bank of America Both Point Past SeptemberFitch Ratings' Olu Sonola said the latest inflation data make it "increasingly difficult to justify a pause."Bank of America expects a 25 basis point increase next week with another 50 basis points of tightening by year-end. RBC Capital Markets separately revised from rate cuts to three hikes this year.Those forecasts converge on 75 basis points of total tightening, which reframes what Wednesday decides. The September move is largely priced. The path implied by the dot plot and updated projections is where the information sits.The report followed hotter producer-price data earlier in the week and came a day after the European Central Bank raised rates, lifting its deposit facility to 2.5% while raising its 2027 and 2028 inflation outlook.The Weekend Sits Between the Data and the DecisionSpot Bitcoin ETF trading paused once US markets closed and does not resume until Monday, leaving thinner liquidity to absorb any escalation.Brent closed at $104.61, up more than 8% on the week, after Saudi Arabia closed the East-West pipeline that bypasses the Strait of Hormuz and Houthi attacks hit Saudi energy facilities. Saudi production fell to 6.238 million barrels per day, the lowest since 1990.The Clarity Act cloture vote falls September 15. The Fed decides September 16 at 2:00 p.m. ET, with updated projections and a Warsh press conference.

Morgan Stanley increased its Bitcoin holdings for three consecutive days through its spot Bitcoin exchange-traded fund MSBT, spending $15.81 million to add about 203.446 BTC. According to Odaily, its total Bitcoin holdings have now exceeded 7,800 BTC and stand at 7,855 BTC, worth more than $600 million.

According to Jin10, Bahrain said it will not participate in a meeting with Iran on the Strait of Hormuz, according to the Bahrain News Agency.

A fake government email slipped through security controls at Revolut this week, exposing residential addresses, identity documents and Bitcoin transaction histories belonging to a group of customers.The request appeared to come from a legitimate government agency and carried credentials that passed Revolut's checks. The company handed over customer information before separately contacting the agency and discovering the request was fraudulent, according to notices sent to affected users.The files reportedly included passports or driving licences, verification selfies, names, dates of birth, occupations, home addresses, emails, phone numbers, IBANs, account statements, withdrawal records and full transaction histories, including all Bitcoin activity.Revolut has not disclosed how many customers were affected and did not immediately respond to a CoinDesk request for comment. It said in its notification that customer funds remained safe, and has notified affected users and regulators while blocking the source of the request.The Failure Was Authorization, Not EncryptionNo system was breached in the conventional sense.Once the request cleared Revolut's internal checks, someone posing as a government official gained access to the same deeply personal information the bank had collected to satisfy identity and compliance requirements.That distinction matters for anyone assessing their own exposure elsewhere. Encryption, cold storage and access logging address a different threat model entirely. A process that legitimately releases data to verified requesters fails when the verification itself is the target.Financial institutions field government data requests routinely, and the volume creates pressure toward efficient handling. An attacker only needs the credential check to pass once.AI Makes This Category of Attack Cheaper at ScaleConvincing emails, documents, identities and bureaucratic requests are becoming inexpensive to produce in volume, while financial companies continue holding increasingly detailed records about who their customers are, where they live and how they move money.That combination changes the economics. Impersonating a government agency convincingly once required specific knowledge of agency formatting, reference structures and language conventions. Those are now reproducible from public examples at near-zero marginal cost.The defensive burden rises correspondingly. Every institution holding sensitive data must now verify inbound authority against a threat that can generate unlimited plausible attempts.The Combination of Data Is the Specific RiskBitcoin makes the exposure unusually concrete.The blockchain records transactions publicly. Personal details — passport, home address, occupation — sit outside the network. Financial intermediaries connect those two sets, turning a customer database into a map linking a real person to their onchain activity.Onchain investigator ZachXBT, who drew attention to the incident, said in a Telegram broadcast that the breach appeared limited in size and may have targeted high-net-worth users.If that assessment is correct, the selection pattern matters more than the volume. A targeted request for specific high-balance accounts produces a materially different risk profile than a bulk extraction, because it suggests the requester already knew what they were looking for.Affected customers face immediate follow-on risk from phishing that uses the exposed details to appear credible — a caller who knows your address, account balance and recent transactions is considerably harder to dismiss. Anyone notified should treat unsolicited contact referencing their Revolut account with particular caution and verify independently through official channels.Those with significant holdings should also consider their physical security posture, given that address and balance information appeared together.Zero-Knowledge Proofs Gain a Concrete Use CaseThe incident gives privacy technology an immediate application rather than a theoretical one.Zero-knowledge systems allow someone to prove an identity check was completed, or that a customer satisfies a particular requirement, while revealing less of the passport, address or underlying information used to establish it.The architectural difference is what matters here. Under current arrangements, satisfying a compliance requirement means the institution holds the underlying documents indefinitely, and any subsequent failure exposes all of it. Under a proof-based system, the institution holds an attestation rather than the source material.An attacker who successfully impersonates a government agency against a ZK-based system receives confirmation that checks were passed. They do not receive a passport scan and a home address.The Question Is Shifting From Protection to CollectionAs impersonation becomes easier, the security problem moves from how well institutions protect customer data to how much sensitive information they need to collect, retain and reveal at all.That reframing has regulatory implications the compliance regime has not addressed. Know-your-customer requirements were designed around a threat model where the institution was the trusted holder and the risk was external intrusion. They do not account for the institution being socially engineered into voluntary disclosure.Every additional field a regulated entity is required to collect expands the dataset available in a failure of this type. The compliance framework and the security outcome are working against each other, and the Revolut incident is a demonstration rather than an argument.

According to Axios, Anthropic said its Claude models were used in attempts tied to Iran, Yemen and China-linked actors, including efforts to target U.S. naval forces, help build missile guidance software and hunt Uyghurs in Syria. The company said it spent the past eight months tracking and disrupting misuse of its models, and also cited a case in which Claude helped build surveillance tools for 25 million phones in Mali. Anthropic said Claude blocked requests for dangerous virus research, but the work was then routed to another AI model with weaker safeguards.

India is seeking to build consensus among an expanded BRICS group despite divisions over the Iran war, ties with the US and the bloc's role in the global order, according to Bloomberg. Bloomberg News Senior Reporter Dan Strumpf said the summit is also highlighting a tentative India-China rapprochement, with President Xi Jinping visiting New Delhi and China Southern Airlines preparing to restore its Guangzhou-New Delhi service after a six-year suspension.

US stocks rebounded Friday after August CPI came in slightly above expectations, with the market largely confirming a Federal Reserve hike next week.The S&P 500 rose 0.9%, the Dow gained about 1% and the Nasdaq 1%. All three still ended the week lower.Investors treated a clear rate path as preferable to ambiguity — reducing policy uncertainty and avoiding more aggressive expectations later.The Mechanism Applied Across Asset ClassesThe same logic drove crypto. Bitcoin rebounded more than $3,000 from a low of $76,046 to clear $79,000, trading at $79,301 for a 24-hour gain of 2.68%.That parallel matters for interpreting both moves. Bitcoin and equities rallying together on a hawkish print is not a debasement-trade signature or a risk-on rotation. It is markets pricing the removal of a distribution of outcomes.Hike odds had been split across venues before the release — 76% on CME FedWatch, roughly two-thirds per QCP, 61% on Polymarket. A 15-point spread on a binary event indicated genuine disagreement. The print collapsed it.Core CPI rose 0.3% against 0.2% expected, the only figure in the release that missed. Headline came in at 0.4% monthly and 3.4% annually with core at 2.4% year-over-year, all in line.Yields Went the Other WayThe bond market did not participate in the relief.The 10-year Treasury yield closed at 4.974%, approaching the 5% threshold and up significantly from 4.783% a week earlier — a move of 19 basis points across five sessions.That divergence is the session's most important detail. Equities and Bitcoin rallied on reduced uncertainty while the asset that actually prices the rate path pushed toward a psychological level it has not breached this cycle.A 5% handle on the 10-year would be the first since 2007. QCP framed the problem for Bitcoin specifically before the print: "This is the worst mix for Bitcoin: a competing 5% risk-free rate without the nominal-growth impulse that usually accompanies yield moves."RBC Moved From Cuts to Three HikesThe forecast revision quantifies how far the outlook has shifted.RBC Capital Markets revised its expectations for this year from rate cuts to three rate hikes, warning that high rates could further weigh on corporate earnings and equity valuations.That is a reversal of direction rather than a recalibration of magnitude. A house expecting easing at the start of the period now expects 75 basis points of tightening.Markets currently price a 25 basis point move at next week's meeting. Rates have sat at 3.50%-3.75% since December 2025, making a September increase the first since July 2023.Saudi Arabia Closed the East-West PipelineThe energy picture deteriorated further, and one development deserves more attention than it received.Brent closed at $104.61, up more than 8% on the week. Houthi attacks on Saudi energy facilities and transportation risks in the Strait of Hormuz contributed, but Saudi Arabia's closure of the East-West pipeline is the structurally significant item.That pipeline runs from the Eastern Province oil fields to the Red Sea port of Yanbu, and its entire strategic purpose is providing an export route that bypasses the Strait of Hormuz. Closing it removes the alternative.With Hormuz shipping disrupted and the bypass shut, Saudi crude has no unconstrained path to market. That is the mechanical explanation for production falling 1.9 million barrels per day to 6.238 million — the lowest since 1990. A producer that cannot export cannot sustain output.The Question Has Shifted From Direction to DurationWall Street's framing has moved from whether the Fed will raise rates to how long high rates persist, and whether inflation can be contained without damaging the economy and corporate earnings.That reframing changes what matters at Wednesday's meeting. The decision itself is largely priced. The dot plot, the updated projections and Chair Kevin Warsh's press conference carry the information.Warsh has rejected forward guidance as a practice, which complicates the market's need for exactly that. The Wall Street Journal's Nick Timiraos identified the bind before CPI: the Jackson Hole speech convinced investors a hike was likelier without specifying a trigger, leaving a single data release to authorize a decision Warsh has argued against making that way.The same absence of guidance now applies to the duration question.High Oil and High Rates Together Keep Volatility ElevatedThe combination is what keeps the outlook unstable regardless of Friday's recovery.Elevated crude feeds inflation, which supports higher rates, which compresses valuations — while the energy shock simultaneously pressures corporate margins from the cost side. Neither variable resolves the other.For crypto, the demand picture entering the weekend had not turned. CryptoQuant's spot demand metric sits at −145,000 BTC after nearly reaching positive at −5,000 in late August. The Coinbase premium index fell to −0.036. Crypto ETFs saw $308 million of net outflows Thursday, the worst single day in two months.Spot Bitcoin ETF trading pauses until Monday, and the Clarity Act cloture vote falls September 15 with the Fed decision the following day.

OpenAI is opening up the underlying agent framework that powers its flagship programming assistant Codex to all developers, marking the formal productization of the company's accumulated agent engineering experience.

Coinbase CEO Brian Armstrong pointed out that Bitcoin reaching $400,000 by 2030 is still a reasonable target, and he personally believes that the bottom of this cycle may have already appeared.

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Jinse Finance launches its daily cryptocurrency and blockchain news bulletin, "Jinse at 8 AM," issue 3179, providing you with the latest and fastest news on the digital currency and blockchain industry.

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