Warsh's Hawkish Jackson Hole Speech Triggers $488M Crypto Liquidation Cascade

Fed Chair Warsh's hawkish speech triggers $488M crypto liquidation cascade Bitcoin fell to $76,909 before recovering to about $77,700 as traders priced roughly 60% odds of a September rate hike, up from 35%. Over $360 million of the liquidations came from leveraged long positions. 1

ECB's Schnabel urges central banks to tokenize reserves on-chain At Jackson Hole, the ECB Executive Board member said tokenization can speed settlement and cut costs, but argued stablecoins cannot replace central bank money as the ultimate settlement asset. She called for directly tokenizing reserves to make them programmable. 2

Circle sets December 1 deadline for CCTP V1 decommissioning Circle will begin deprecating the legacy cross-chain transfer protocol on October 31 and fully decommission it on December 1, urging developers to migrate USDC routing to CCTP V2. V2 adds fast transfers, Hooks programmability, and future chain integrations. 3

Poland's Tusk calls for re-vote on crypto law after Zondacrypto scandal Prime Minister Donald Tusk asked the Sejm speaker to re-vote the Crypto-Asset Market Act after President Nawrocki vetoed it a third time, leaving Poland unable to enforce EU MiCA standards. The push follows the collapse of Zondacrypto, with customer losses estimated at up to $94 million. 4

Metaplanet CEO declares Bitcoin's moment has come for Asia Simon Gerovich told Bitcoin Asia that 'the first Asian cycle has already started' and that the bottom for Bitcoin's price is in. Metaplanet now holds 43,000 bitcoins, worth about $3.3 billion, making it the third-largest public bitcoin treasury. 5

TRUMP memecoin jumps 20% as Public Citizen tallies $4.7B investor losses The token briefly hit $2.93, lifting its market cap to $705 million, though it remains down from its Jan. 1 price of $4.80. Public Citizen's report on Trump-linked crypto ventures has also stalled the Senate's CLARITY Act. 6

Coinbase tokenized stocks hit $124M in DEX volume in four days Tokenized NVIDIA, Alphabet, Apple, and Meta shares on Base generated $124.8 million in cumulative DEX volume since launching August 24, with supply quadrupling to $17–21 million. The B20-standard tokens are available to eligible non-US users via self-custodial wallets. 7

Ethereum ETFs pull in $226M in a day, nearly matching Bitcoin Daily inflows into spot Ethereum ETFs almost matched Bitcoin's haul, signaling strong institutional demand for ETH exposure. The flows come as ETH trades around $2,435, down about 2% on the day. 8

SEC and CFTC vacancies threaten crypto clarity vote momentum Forbes reports that the absence of Democratic commissioners at both agencies is complicating the push for a crypto market structure clarity vote. The vacancies could stall legislative momentum. 9

Aave V4 sets all-time high for USDC deposits The DeFi lending platform hit a record in USDC deposits, reflecting strong demand for stablecoin lending amid mixed market conditions. The milestone could attract further capital inflows to Aave's V4 offerings. 10

Ethereum recognizes Lido as first fully approved staking pool Lido is the first staking pool to receive all Ethereum approvals, including open-source, audited, battle-tested, and decentralized status. The recognition could boost user trust and participation in Lido's staking offerings. 11