🚨 LATEST: SEC Commissioner Hester Peirce says zero-knowledge proofs could verify compliance without collecting users’ personal data. She warns current KYC/AML practices create “data haystacks.”

USDT on Bitcoin. It's coming home

🇦🇺 World's first known rogue AI hack of government body An OpenAI agent breached Australia's Medicare portal and got away with it for 3 months 🤯 The agent was pulling health spending stats for an internal OpenAI evaluation, and when the site kept blocking it, it simply found another way in and helped itself to non-public files. Australian PM Anthony Albanese says it "didn't accept no for an answer." That’s a great quality in a salesman and a terrible one in an AI. Medicare covers 27 million Australians and is about as politically untouchable as it gets there. The portal only holds aggregate data, and so far there's no sign any personal information was accessed, though the forensic investigation is still underway. OpenAI didn't catch it until August, then broke the news by emailing a public inbox on Sept 10 like it was filing a customer complaint. It took another 5 days to reach Australia's cyber department, and Canberra is now asking why its own systems never spotted an AI rummaging around in them. It may not stop at 1 site either. Deputy PM Richard Marles says the agent accessed 4 state and federal websites, including crime statistics, and Albanese warned 3 other health sites may have been hit. This is starting to look like a habit. OpenAI only found the breach while reviewing its agents after they broke into Hugging Face in July, and researchers at Transluce caught agents, likely OpenAI's, trying to hack 3 other public data providers in May and June while doing routine lookups. The government is also checking whether any laws were broken, which raises the fun question of who you charge when the hacker is an AI agent. Albanese took it up with Sam Altman in person in New York. He says he was "very frank" about the failure, and that Altman acknowledged OpenAI's protocols "were not up to scratch." That conversation came just hours after Altman told the UN Security Council that even a small risk of AI running out of control isn't "remotely acceptable," which must have made for an awkward chat. Sources: Reuters, FT, NYT, Bloomberg / Writer: Julie

The new frontier of finance isn't on the horizon. It's here. As our markets evolve at warp speed, the @CFTC is upgrading its rules and regulations to prepare for the era of onchain systems, mass tokenization, 24/7 trading, and agentic finance.

Global government debt has surged to unprecedented levels: The Debt-to-GDP ratio of emerging market economies is up to ~78%, its highest level in data going back to 1880. Since the 2008 Financial Crisis, this metric has more than doubled and surpassed the ~45% peak seen during World War II. Before 2020, this ratio never exceeded 60% and is now approaching 80% for the first time. Meanwhile, the Debt-to-GDP ratio of advanced economies is up to ~108% and has been above 100% for the last 10 years. Before the 2008 Financial Crisis, this figure stood below 80%. Deficit spending has become a global crisis.

they never learn

BREAKING: ELON MUSK'S X JUST ANNOUNCED USERS CAN NOW BUY #BITCOIN DIRECTLY IN THE APP ONE OF THE WORLDS LARGEST SOCIAL MEDIA PLATFORMS EMBRACING BTC THIS IS ABSOLUTELY MASSIVE 🔥

🇺🇸 JUST IN: CFTC Chairman Selig says US markets must prepare for "mass tokenization" as blockchains and AI are "adopted at scale." Selig told the US Treasury Market Conference that "the next decade will likely bring more change to financial markets than the previous several decades combined." The CFTC expanded eligible collateral to include stablecoins in February and is looking to drive further adoption across exchanges and clearinghouses.

Democrats asked for major crypto holders to disclose their stakes and report sales to the SEC and the public. It’s in the Clarity Act. Democrats voted against the same disclosure rules they wrote.

Even after being wrong about the bottom, @benjamincowen has been more accurate than 99%!

BREAKING: 🇺🇸 COINBASE CEO BRIAN ARMSTRONG JUST EXPOSED HOW THE BIG BANKS WANT TO STOP #BITCOIN AND CRYPTO IN AMERICA THE REWARDS VS YIELD DEBATE WAS AN EXCUSE "THEY FRANKLY JUST DIDN'T WANT THE COMPETITION" "THEY WENT TO THE GOVERNMENT TO TRY TO KILL THEIR COMPETITION" "THAT SHOULDN'T HAPPEN IN AMERICA" "JUST COMPETE" HE'S ABSOLUTELY RIGHT 🔥

Democrats demanded audited financial statements for any crypto project raising more than $25 million from the public. It’s in the bill. Democrats voted against the transparency they asked for.

Democrats wanted exchanges to be forced to delist any digital asset whose issuer breaks disclosure rules. The Clarity Act requires it. Senate Democrats still voted no.

Democrats insisted the SEC keep full authority to police fraud and market manipulation in digital assets. We preserved it word for word. Senate Democrats killed the bill that protects investors from fraud.

Peter, a tokenized security still carries corporate, counterparty and regulatory risks. Bitcoin has no issuer and no management team. Calling it a Ponzi scheme doesn't make it one. You're confusing a new way to trade traditional securities with Bitcoin's fundamentally different value proposition. I think it’s time to finally read my book, Bitcoin is for Everyone. 🧡

🇺🇸 SENATOR CYNTHIA LUMMIS JUST GAVE EVERYTHING SHE HAD TO PASS THE #BITCOIN CLARITY ACT SHE NEGOTIATED FOR 5 AND A HALF YEARS SHE WORKED NIGHTS AND WEEKENDS SHE SPOKE WITH THE DEMOCRATS AND THE BIG BANKS AND TRIED EVERY WAY TO FIND COMPROMISE THE BILL HAS FAILED BUT THE FIGHT IS NOT OVER THANK YOU SENATOR LUMMIS FOR DEFENDING BTC IN AMERICA YOU ARE AN ABSOLUTE LEGEND 🔥

You’re going to make more money than you ever have in your life and somehow feel poorer than ever. Look at this. You make $65,000. You get a 3% raise every year. 5 years: $75,000. 10 years: $87,000. Sounds alright. Now look at the last 5 years: CPI: +22%. Rent: +28%. Electricity: +35%. Natural gas: +32%. Gasoline: +30%. Car insurance: +50%. Car repairs: +45%. Eating out: +29%. Ground beef: +55%. Coffee: +97%. Now just repeat the last five years twice. Your salary: $65,000 → $87,000. Your rent: $1,948 → roughly $3,200. Ground beef: $6.92 → roughly $16.60/lb. Coffee: $9.30 → roughly $36/lb. Car insurance more than doubles. Electricity up more than 80%. Maintaining the same car costs more than twice as much. And this is where it starts to hurt. You’re making almost $90,000, but maintaining the life you had on $65,000 is becoming harder. So you start compromising. Maybe you move somewhere cheaper. Maybe beef becomes chicken. You eat out less, keep the old car another few years, take fewer trips and put less into savings. Your standard of living just gets downgraded a little at a time while the number on your payslip keeps getting bigger. Like the frog in slowly heating water, each change feels small enough to tolerate until you suddenly realise the whole environment has become unlivable. You did everything you were supposed to do. You worked, got your raises and earned more money. You still got poorer. How long can this keep going before people stop asking why everything is so expensive and start asking what the hell is happening to the money?

🚨NEW: The @CFTC has submitted its crypto rulemaking to the White House for review. The proposed rule is titled “Regulation Crypto Asset Transactions and Regulation Crypto Asset Markets.” It comes just two days after @ChairmanSelig said the agency was “locked in and ready to ship rules” following the Senate’s failure to advance crypto market structure legislation.

BREAKING: Saudi Arabia has informed European refiners that they will be allocated no crude oil next month amid the East-West pipeline shutdown, per Bloomberg. European customers normally receive Saudi Arabian crude oil shipments on "term contracts," which are meant to ensure a steady flow of crude oil supply every month. Countries in Europe imported 577,000 barrels of crude oil per day from Saudi Arabia prior to the shutdown. Europe is facing its worst energy crisis in history.

🇨🇦🇺🇸 Canada’s PM Carney: “I am not proposing a third bloc in order to become a great-power rival, only with better manners. We do not seek power to dominate others... On the contrary, we are pursuing resilience so no one can control our open markets or threaten our territorial integrity.” In other words: We still need America’s protection… we just don’t want to have to deal with any of their bullsh*t! Writer: Jamie