The SEC has introduced its long-awaited “innovation exemption,” offering blockchain-based trading platforms a framework for listing and trading tokenized securities.

JPMorgan Says Middle East Outlook Is Too Uncertain

JPMorgan’s commodities team said Thursday it no longer has a reliable baseline scenario for the ongoing Middle East conflict.

“For the first time since the start of the Iran conflict, we don’t have a baseline view,” the analysts wrote, saying they do not know how to model the conflict’s eventual outcome.

The remarks have sparked discussion across financial circles on X as the conflict has become increasingly complex, with multiple parties involved and no clear path toward a resolution.

WTI crude was slightly lower but remained above $100 per barrel. U.S. diesel prices also climbed to a record $6.29 per gallon on Thursday.

Julian Assange Announces Return

Julian Assange returned to X with a short message saying, “I’m back.” WikiLeaks posted the same message shortly before, accompanied by an image of the whistleblower.

“De-banking” has become a widely used term in recent years, but WikiLeaks encountered similar financial restrictions in 2010. Visa, MasterCard and PayPal stopped processing payments for the organization amid pressure from the U.S. government.

Assange initially chose not to use Bitcoin for WikiLeaks fundraising after Bitcoin creator Satoshi Nakamoto asked him to avoid the cryptocurrency, which was still new at the time, amid concerns that government authorities could move against the network.

His family later raised funds in Bitcoin to help cover his legal expenses.

SEC Action Helps Crypto Stocks Recover

Several crypto-related stocks that had fallen sharply after the CLARITY Act failed to advance in the Senate earlier in the week moved higher in premarket trading following the SEC announcement.

Coinbase (COIN), Circle (CRCL), Bullish (BLSH), Robinhood (HOOD) and Securitize (SECZ) all posted gains.

The SEC’s new exemption provides blockchain-based venues with a clearer process for listing and trading tokenized securities.

Robinhood CEO Vlad Tenev said tokenization could bring features such as instant settlement, 24-hour trading and fractional ownership to U.S. markets.

CleanSpark Advances on $2.227B Debt Plan

CleanSpark (CLSK) gained 5% after proposing $2.227 billion of debt maturing in 2031.

The company expects to use the proceeds to complete its Sandersville data center, reimburse expenditures already made on the project and reserve money for debt-service requirements.

CoreWeave (CRWV) moved 2% lower after announcing a $3 billion convertible debt offering due in 2033. The transaction could be increased to $3.5 billion.

CoreWeave plans to use most of the proceeds for general corporate needs, with no specific project attached to the funding. Some of the proceeds will support options intended to reduce potential dilution if the debt is converted into equity.

Jobless Claims Drop, Housing Starts Decline

Initial U.S. jobless claims fell to 196,000 last week, according to the Bureau of Labor Statistics.

That was below the previous week’s 206,000 and significantly under the 208,000 economists had projected. The four-week moving average declined to 203,250 from 206,000.

Housing data pointed in the opposite direction. Housing starts dropped 2.6% in August to a seasonally adjusted annual rate of 1.275 million, down from 1.309 million in July and below the 1.31 million forecast.

WTI Falls Below $100

WTI crude dropped below $100 per barrel for the first time in about a week after Reuters reported that China had urged Iranian leaders to help curb Yemen’s Houthis.

The request reportedly followed an appeal from Saudi Arabia after military gains by the Houthis.

WTI fell 3% to $99.40 per barrel. Lower oil prices also pushed Treasury yields down, with the 10-year yield declining 5.4 basis points to 4.95%.

Bitcoin climbed 1.15% to $76,900, while Nasdaq 100 futures rose 1.5%.

Stocks Rally After Fed Decision

U.S. stock futures pointed to a higher open despite the Federal Reserve’s latest rate increase.

Nasdaq 100 futures gained 1.1%, while S&P 500 and Dow Jones Industrial Average futures each rose 0.9% less than two hours before the opening bell.

After the Fed hike was delivered, investors appeared to turn their attention back toward buying risk assets, with another increase largely expected in October, December or both.

The 10-year Treasury yield declined 3 basis points to 4.975%, while the two-year yield dropped 1.4 basis points to 4.71%.

WTI crude also eased to $100.76 after reaching $107 earlier in the week.

Bitcoin was little changed at $76,100, roughly matching its level before the Fed announcement.

Bank of England Leaves Rates Unchanged

The Bank of England’s Monetary Policy Committee voted 6-3 to keep its benchmark rate at 3.75%.

The central bank warned that the Middle East conflict and elevated oil prices could increase inflation risks heading into the first quarter of 2027.

Brent crude was trading above $103 per barrel.

Zcash Jumps 17% as Liquidations Reach $345M

Zcash surged more than 17% to nearly $1,358 during Asian morning trading Thursday, according to CoinDesk data.

Solana and Hyperliquid each advanced about 3%, while BNB, Dogecoin and Ether gained roughly 2%. Bitcoin rose 1% to above $76,400, XRP added about 1%, and Tron remained flat.

The Fed raised its target range by 25 basis points to 3.75%-4.00% on Wednesday, marking its first rate hike of the cycle. Markets had priced in roughly a 69% chance of the move beforehand.

Bitcoin showed little reaction to the decision. Alex Kuptsikevich, chief market analyst at FxPro, said Bitcoin had already suffered a strong negative response to the CLARITY Act’s Senate setback, leaving it less vulnerable to a stronger dollar.

CoinGlass data showed that 86,816 traders were liquidated over 24 hours, with total losses reaching $345 million.

Short positions accounted for $208 million of the liquidations, compared with $137 million in long positions, leaving bearish traders with the larger share of losses.

Ether recorded nearly $89 million in liquidations, Bitcoin had $85 million and Zcash saw $56 million. The largest single liquidation was an $18 million Bitcoin position closed on Hyperliquid.

Zcash’s $56 million liquidation total compares with a market capitalization of approximately $23 billion. Market participants will be watching whether leverage builds again through Thursday, given its role in fueling the token’s recent advances.