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The financial sector is going through a rapid digital transformation, but cybercriminals are adapting just as quickly. Banks are forced to spend heavily to keep ahead of surging financial fraud. Across the Asia-Pacific region, 98% of financial institutions have had to scale up their compliance operations, driving costs above $45 billion. This surge reflects a shift toward integrated anti-fraud strategies, with governments and industries rolling out  targeted national responses to counter increasingly sophisticated threats. Hong Kong authorities have launched Scameter, a mobile fraud alert system that that notifies users of high-risk transactions. Singapore has introduced the Shared Responsibility Framework, which allocates scam loss responsibilities to financial institutions and telecommunication operators, encouraging the implementation of anti-scam measures. Similarly, Australia’s Scam-Safe Accord is a cross-industry initiative across banks, building societies, credit unions aimed at elevating the standard of customer protection to counter scams. These moves all represent a strong response to a growing regional threat, exemplified by Southeast Asia’s “scam compounds”: physical hubs where criminal syndicates orchestrate large-scale online scams, including identity fraud, phishing, fake investments and money laundering. Disguised as legitimate businesses, these sophisticated operations generate billions of dollars annually. What’s driving this evolution in financial crime? Increasingly, it’s artificial intelligence. Criminal networks use AI to create synthetic identities, launch massive phishing campaigns, and bypass traditional security systems—and do so with fewer resources and in record time. While scam compounds are concentrated in Asia, the threat of financial fraud is global. Yet as Asia’s crime syndicates make headlines, the region’s banks are quietly leading a shift in how to prevent fraud. Unlike other banks, which use AI for customers personalization and call center support, Asian banks are instead tapping AI to fight back against cybercriminals through fraud detection, identity verification, and anti-money laundering. Why APAC is outpacing in AI-driven fraud defense Asia’s greater focus on AI-powered fraud prevention is due to the region’s exposure to financial crime. Asian institutions are in the trenches when it comes to cybercrime, pushing them to rapidly adopt AI-driven strategies. The scale of financial loss is staggering. In 2024 alone, the Asia-Pacific region lost an estimated $688 billion to fraud, nearly two-thirds of the world’s total. Asians’ rapid adoption of digital wallets and payment platforms makes matters worse: By outpacing the rollout of strong consumer protections, this usage opens doors for cybercriminals and is putting banks on the front lines. Asian banks are leading the way in adopting ISO 20022, a new messaging standard that allows financial institutions to use AI to precisely detect anomalies and cut exposure to financial crime. Same tech, different playbooks Regional priorities are shifting as banks adopt AI. Asia-Pacific banks are focusing on fraud prevention and security, while European and U.S. institutions instead use AI to personalize products and customer service. According to our research, just over half of organizations in the UK want to use generative AI to enhance the customer experience. That reflects the UK’s hyper-competitive market, where user-friendly interactions are key to winning customer loyalty. The U.S. is splitting its AI focus between customers experience and operational automation, supporting both consumer demands for frictionless banking and internal goals for efficiency. In contrast, 58% of Asia-Pacific banks are focusing their AI investments on fraud detection and anti-money laundering, well above the global average. Asia-Pacific banks face a high-risk landscape where criminal networks use generative AI for identity fraud, phishing and financial scams. As a result, the region prioritizes cybersecurity, forging a sharper, security-focused AI strategy that views fraud prevention as a key competitive advantage. Importantly, AI is blurring the distinction between security and service. Growing cyber threats means customers expect their banks to not just protect their money, but also provide clear, accurate answers in times of uncertainty. Our work with clients reveals that AI-powered chatbots and authentication systems can speed up queries from banking staff by sourcing information for them 30-40% faster than before. This has in turn had a knock-on effect for customer satisfaction, with customers now rating their experiences with chatbots 25% higher than their previous conversations with human agents. What the next era of banking demands Fraud detection can’t be isolated in today’s threat landscape. It must be embedded within financial infrastructure. Whether that’s through cross-industry accords like Australia’s Scam-Safe Accord, or through the blend of service and security seen in AI-powered chatbots that both authenticate users and resolve queries in real time, APAC is demonstrating how integrated systems can turn raw data into actionable defenses, driven by AI and aligned with operational needs. Asia-Pacific’s experience highlights that financial security hinges on being proactive, not reactive. Faced with massive fraud losses and complex scam networks, Asian institutions have swiftly prioritized AI-driven fraud prevention. U.S. and European peers, on the other hand, treat fraud prevention as one possible AI application among many. That will be a mistake as AI-driven financial crime starts to spread globally. AI’s role in fraud will grow. Asia-Pacific’s strategy shows the value of acting quickly to counteract it, integrating fraud prevention into financial infrastructure. As global threats escalate, the world should look to Asia, not just as a regional leader, but as a role model for secure, seamless financial transactions. The opinions expressed in Fortune.com commentary pieces are solely the views of their authors and do not necessarily reflect the opinions and beliefs of Fortune. Read More

Rudy Giuliani is recovering from a fractured vertebra and other injuries following a car crash in New Hampshire in which he was a passenger, a spokesperson for the former New York City mayor said Sunday. Giuliani was being driven in a rented Ford Bronco by his spokesperson Ted Goodman when their vehicle was struck from behind by a Honda HR-V driven by a 19-year-old woman late Saturday evening, New Hampshire State Police said in a statement. Troopers witnessed the crash, which caused both vehicles to hit the highway median and left them “heavily damaged,” state police said. Goodman and the 19-year-old suffered “non-life-threatening injuries” and were taken to hospitals for treatment, the agency added. State police said they are investigating the crash and no charges have been filed. Giuliani, 81, was taken to a nearby trauma center and was being treated for a fractured thoracic vertebra, multiple lacerations and contusions, as well as injuries to his left arm and lower leg, according to a statement posted on X by Michael Ragusa, Giuliani’s head of security. Giuliani “sustained injuries but is in good spirits and recovering tremendously,” Ragusa said, adding: “This was not a targeted attack.” Prior to the accident, Giuliani had been “flagged down by a woman who was the victim of a domestic violence incident” and contacted police assistance on her behalf, Ragusa said. After police arrived, Giuliani continued on his way and his vehicle was hit shortly after pulling onto the highway in a crash that was “entirely unrelated” to the domestic violence incident, Ragusa told The Associated Press in an emailed statement. State police said troopers were investigating a domestic violence report on the southbound Interstate 93 highway shortly before 10 p.m. and observed the crash, which occurred on the northbound lanes. Troopers and fire personnel quickly crossed to provide help. New Hampshire State Police declined to comment on whether Giuliani had contacted the agency regarding the account of a domestic violence incident. Goodman did not respond to requests for comment and Giuliani’s team did not provide additional details about the circumstances surrounding the crash. “Thank you to all the people that have reached out since learning the news about my Father,” Andrew Giuliani, Rudy Giuliani’s son, wrote in post on X. “Your prayers mean the world.” The crash follows some rocky years for the onetime Republican presidential candidate, who was dubbed “America’s mayor” in light of his leadership in New York after the Sept. 11 attacks in 2001. Giuliani later became President Donald Trump’s personal attorney for a time and a vocal proponent of Trump’s allegations of fraud in the 2020 election, won by Democrat Joe Biden. Trump and his backers lost dozens of lawsuits claiming fraud, and numerous recounts, reviews and audits of the election results turned up no signs of significant wrongdoing or error. Two former Georgia elections workers later won a $148 million defamation judgment against Giuliani. As they sought to collect the judgment, the former federal prosecutor was found in contempt of court and faced a trial this winter over the ownership of some of his assets. He ultimately struck a deal that let him keep his homes and various belongings, including prized World Series rings, in exchange for unspecified compensation and a promise to stop speaking ill of the ex-election workers.  Introducing the 2025 Fortune Global 500, the definitive ranking of the biggest companies in the world. Explore this year’s list. Read More

President Donald Trump’s attempt to fire a member of the Federal Reserve’s governing board has raised alarms among economists and legal experts who see it as the biggest threat to the central bank’s independence in decades. The consequences could impact most Americans’ everyday lives: Economists worry that if Trump gets what he wants — a loyal Fed that sharply cuts short-term interest rates — the result would likely be higher inflation and, over time, higher borrowing costs for things like mortgages, car loans and business loans. Trump on Monday sought to fire Lisa Cook, the first Black woman appointed to the Fed’s seven-member governing board. It was the first time in the Fed’s 112-year history that a president has tried to fire a governor. Trump said he was doing so because of allegations raised by one of his appointees that she has committed mortgage fraud. Cook has argued in a lawsuit seeking to block her firing that the claims are a pretext for Trump’s true goal: Gaining more control over the Fed. A court may decide next week whether to temporarily block Cook’s firing while the case makes its way through the legal process. Cook is accused of claiming two homes as primary residences in July 2021, before she joined the board, which could have led to a lower mortgage rate than if one had been classified as a second home or an investment property. She has suggested in her lawsuit that it may have been a clerical error but hasn’t directly responded to the accusations. Fed independence ‘hangs by a thread’ Trump and members of his administration have made no secret about their desire to exert more control over the Fed. Trump has repeatedly demanded that the central bank cut its key rate to as low as 1.3%, from its current level of 4.3%. Before trying to fire Cook, Trump repeatedly attacked the Fed’s chair, Jerome Powell, for not cutting the short-term interest rate and threatened to fire him as well. “We’ll have a majority very shortly, so that’ll be good,” Trump said Tuesday, a reference to the fact that if he is able to replace Cook, his appointees will control the Fed’s board by a 4-3 vote. “The particular case of Governor Cook is not as important as what this latest move shows about the escalation in the assaults on the Fed,” said Jon Faust, an economist at Johns Hopkins and former adviser to Powell. “In my view, Fed independence really now hangs by a thread.” Some economists do think the Fed should cut more quickly, though virtually none agree with Trump that it should do so by 3 percentage points. Powell has signaled the Fed is likely to cut by a quarter point in September. Why economists prefer independent central banks The Fed wields extensive power over the U.S. economy. By cutting the short-term interest rate it controls — which it typically does when the economy falters — the Fed can make borrowing cheaper and encourage more spending, growth, and hiring. When it raises the rate to combat the higher prices that come with inflation, it can weaken the economy and cause job losses. Most economists have long preferred independent central banks because they can take unpopular steps that elected officials are more likely to avoid. Economic research has shown that nations with independent central banks typically have lower inflation over time. Elected officials like Trump, however, have much greater incentives to push for lower interest rates, which make it easier for Americans to buy homes and cars and would boost the economy in the short run. A political Fed could boost inflation Douglas Elmendorf, an economist at Harvard and former director of the nonpartisan Congressional Budget Office, said that Trump’s demand for the Fed to cut its key rate by 3 percentage points would overstimulate the economy, lifting consumer demand above what the economy can produce and boosting inflation — similar to what happened during the pandemic. “If the Federal Reserve falls under control of the president, then we’ll end up with higher inflation in this country probably for years to come,” Elmendorf said. And while the Fed controls a short-term rate, financial markets determine longer-term borrowing costs for mortgages and other loans. And if investors worry that inflation will stay high, they will demand higher yields on government bonds, pushing up borrowing costs across the economy. In Turkey, for example, President Recep Tayyip Erdogan forced the central bank to keep interest rates low in the early 2020s, even as inflation spiked to 85%. In 2023, Erdogan allowed the central bank more independence, which has helped bring down inflation, but short-term interest rates rose to 50% to fight inflation, and are still 46%. Other U.S. presidents have badgered the Fed. President Lyndon Johnson harassed then-Fed Chair William McChesney Martin in the mid-1960s to keep rates low as Johnson ramped up government spending on the Vietnam War and antipoverty programs. And Richard Nixon pressured then-Chair Arthur Burns to avoid rate hikes in the run-up to the 1972 election. Both episodes are widely blamed for leading to the stubbornly high inflation of the 1960s and ’70s. Trump has also argued that the Fed should lower its rate to make it easier for the federal government to finance its tremendous $37 trillion debt load. Yet that threatens to distract the Fed from its congressional mandates of keeping inflation and unemployment low. Independence vs accountability Presidents do have some influence over the Fed through their ability to appoint members of the board, subject to Senate approval. But the Fed was created to be insulated from short-term political pressures. Fed governors are appointed to staggered, 14-year terms to ensure that no single president can appoint too many. Jane Manners, a law professor at Fordham University, said there is a reason that Congress decided to create independent agencies like the Fed: They preferred “decisions that are made from a kind of objective, neutral vantage point grounded in expertise rather than decisions are that are wholly subject to political pressure.” Yet some Trump administration officials say they want more democratic

Educators have been struggling over how students should or should not use artificial intelligence, but one New York University official suggests going old school—really, really old school. In a New York Times op-ed on Tuesday, NYU’s vice provost for AI and technology in education, Clay Shirky, said he previously had counseled more “engaged uses” of AI where students use the technology to explore ideas and seek feedback, rather than “lazy AI use.” But that didn’t work, as students continued using AI to write papers and skip the reading. Meanwhile, tools meant to detect AI cheating produce too many false positives to be reliable, he added. “Now that most mental effort tied to writing is optional, we need new ways to require the work necessary for learning,” Shirky explained. “That means moving away from take-home assignments and essays and toward in-class blue book essays, oral examinations, required office hours and other assessments that call on students to demonstrate knowledge in real time.” Such a shift would mark a return to much older practices that date back to Europe’s medieval era, when books were scarce and a university education focused on oral instruction instead of written assignments. In medieval times, students often listened to teachers read from books, and some schools even discouraged students from writing down what they heard, Shirky said. The emphasis on writing came hundreds of years later in Europe and reached U.S. schools in the late 19th century. “Which assignments are written and which are oral has shifted over the years,” he added. “It is shifting again, this time away from original student writing done outside class and toward something more interactive between student and professor or at least student and teaching assistant.” That may entail device-free classrooms as some students have used AI chatbots to answer questions when called on during class. He acknowledged logistical challenges given that some classes have hundreds of students. In addition, an emphasis on in-class performance favors some students more than others. “Timed assessment may benefit students who are good at thinking quickly, not students who are good at thinking deeply,” Shirky said. “What we might call the medieval options are reactions to the sudden appearance of AI, an attempt to insist on students doing work, not just pantomiming it.” To be sure, professors are also using AI, not just students. While some use it to help develop a course syllabus, others are using it to help grade essays. In some cases, that means AI is grading an AI-generated assignment. AI use by educators has also generated backlash among students. A senior at Northeastern University even filed a formal complaint and demanded a tuition refund after discovering her professor was secretly using AI tools to generate lecture notes.  Meanwhile, students are also getting mixed messages, hearing that the use of AI in school counts as cheating but also that not being able to use AI will hurt their job prospects. At the same time, some schools have no guidelines on AI. “Whatever happens next, students know AI is here to stay, even if that scares them,” Rachel Janfaza, founder of Gen Z-focused consulting firm Up and Up Strategies, wrote in the Washington Post on Thursday. “They’re not asking for a one-size-fits-all approach, and they’re not all conspiring to figure out the bare minimum of work they can get away with. What they need is for adults to act like adults — and not leave it to the first wave of AI-native students to work out a technological revolution all by themselves.” Introducing the 2025 Fortune Global 500, the definitive ranking of the biggest companies in the world. Explore this year’s list. Read More

White House senior counselor for trade and manufacturing Peter Navarro said Sunday that President Donald Trump’s tariffs are not permanent as he sought to undercut a ruling from a federal court that dealt a major blow to the administration’s trade policy. On Friday night, the U.S. Court of Appeals for the Federal Circuit ruled that most of Trump’s so-called reciprocal tariffs on global trading partners are illegal. That upheld an earlier ruling by the Court of International Trade, which found that the tariffs’ legal basis under the International Emergency Economic Powers Act (IEEPA) wasn’t valid, saying that the administration’s argument for the tariffs didn’t constitute an emergency. “Both the Trafficking Tariffs and the Reciprocal Tariffs are unbounded in scope, amount, and duration,” the majority wrote. “These tariffs apply to nearly all articles imported into the United States (and, in the case of the Reciprocal Tariffs, apply to almost all countries), impose high rates which are ever-changing and exceed those set out in the [U.S. tariff system], and are not limited in duration.” The Trump administration is appealing the decision to the Supreme Court, and Friday’s ruling is on hold until mid-October to give the high court a chance to consider the case. On Fox News’s Sunday Morning Futures, Navarro called the appeals court’s ruling “weaponized partisan injustice” and said the dissenting opinion in favor of the tariffs should give the White House a strong argument before the Supreme Court. The judges who sided with the administration said IEEPA allows “broad emergency authority in this foreign-affairs realm, which unsurprisingly extends beyond authorities available under non-emergency laws.”  Navarro also said the trade deficit does indeed constitute an emergency because it is “absolutely devastating to this country.” And he pushed back against the appeals court’s characterization of the tariffs as unlimited in duration. “Hey memo to the court: we never said they were permanent,” he said. If the flow of illegal drugs from China, Mexico and Canada stop, the tariffs will go away, Navarro added, likewise if the trade deficit shrinks to nothing. In April, Trump was asked about comments from administration officials who said tariffs could be negotiated and that they were permanent. “They can both be true,” he replied. “There could be permanent tariffs, and there could also be negotiations, because there are things that we need beyond tariffs.” In May, Trump also said auto tariffs are permanent, but those duties weren’t affected by Friday’s court ruling as they were invoked under a different law. He has also touted the long-term benefits of his tariffs, recently pointing to the CBO’s 10-year projection that tariffs will reduce the deficit by $4 trillion and that they will bring in enough revenue to lower the U.S. debt, which tops $37 trillion. “The purpose of what I’m doing is primarily to pay down debt, which will happen in very large quantity — but I think there’s also a possibility that we’re taking in so much money that we may very well make a dividend to the people of America,” Trump said earlier this month. Introducing the 2025 Fortune Global 500, the definitive ranking of the biggest companies in the world. Explore this year’s list. Read More

Rich Bitcoiners Are Reportedly Spending BTC on Luxury Holidays: Does This Really Make Sense? Private jet flights, yacht cruises and boutique hotels are now taking crypto. But does it make sense for bitcoin’s new wealthy to actually spend their coins? Updated Aug 31, 2025, 9:08 p.m. Published Aug 31, 2025, 7:53 p.m. Bitcoin’s latest rally is spilling over into the luxury holiday market. The Financial Times (FT) reported earlier today that private jet firms, cruise lines and boutique hotels are increasingly accepting crypto payments. Flexjet-owned FXAIR, for instance, now takes tokens for transatlantic trips costing about $80,000, while cruise operator Virgin Voyages sells annual passes worth $120,000. SeaDream Yacht Club and boutique hotel groups including The Kessler Collection have also added crypto checkout options, according to the FT. High-end travel is a natural niche for crypto spending. On six-figure invoices, fees and volatility matter less, and merchants can instantly convert payments into fiat. For customers, paying in bitcoin carries status value, echoing earlier bull-market splurges on Lamborghinis and watches. This time, the indulgence is time-saving private jets and one-of-a-kind cruises. Still, whether it makes financial sense is another matter. Bitcoin’s most famous cautionary tale comes from 2010, when Florida programmer Laszlo Hanyecz spent 10,000 BTC on two pizzas, a purchase now worth over $1 billion in hindsight. Today’s jet bookings could invite the same regret if bitcoin keeps climbing. Yet others see logic in cashing in. With bitcoin recently hitting a record $124,128 on Aug. 14, some wealthy holders may view the present rally as a window to lock in gains before macro shocks send prices lower. Inflationary pressures tied to the new U.S. import tariffs, along with wider economic uncertainty, could easily knock BTC back below $100,000, turning today’s holiday splurges into a rational hedge. There are also tax complications. The U.S. Internal Revenue Service (IRS), for instance, treats crypto as property, meaning that spending BTC counts as a taxable disposal and can trigger capital-gains liabilities. The U.K.’s HMRC applies the same principle, taxing disposals when coins are sold, swapped or spent. The bigger backdrop, according to McKinsey data cited by the FT, is that younger affluent travelers are driving a luxury travel boom projected to nearly double spending between 2023 and 2028. For that generation, crypto is not just an investment vehicle but also a way to pay for experiences that promise freedom and exclusivity. Bottom line: Crypto hasn’t taken over coffee shops, but at the top end of the market it is showing up. Whether that’s smart wealth management or another billion-dollar pizza mistake depends on how long this bull cycle lasts. AI Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy. More For You Yen-Backed Stablecoin Can’t Come at a Better Time as BOJ Seen Raising Rates Top bankers and economists expect the BOJ to hike rates in the fourth quarter, boosting the appeal of yen and yen-backed assets. What to know: Japan is set to launch a blockchain-based version of the yen, with the Financial Services Agency likely to approve the first yen-denominated stablecoin this fall. The Bank of Japan is expected to raise interest rates soon, which could increase the appeal of yen-backed assets and stablecoins. Rising Japanese government bond yields and a strengthening yen are impacting the BTC/JPY exchange rate, which has dropped 8% this month. Read full story Read More

Top bankers and economists expect the BOJ to hike rates in the fourth quarter, boosting the appeal of yen and yen-backed assets. Aug 31, 2025, 6:00 p.m. One of the biggest stories emerging from the Far East this month is the imminent launch of a blockchain-based version of the Japanese yen, one of the world’s major fiat currencies. The timing for this development couldn’t be better, as the Bank of Japan (BOJ) is widely expected to raise interest rates soon, a move likely to increase the appeal of both the yen and yen-backed assets. Earlier this month, CoinDesk reported that Japan’s Financial Services Agency (FSA) is likely to approve the country’s first yen-denominated stablecoin as early as this fall. According to the report, Tokyo-based fintech firm JPYC plans to register as a money transfer business within the month and will spearhead the rollout of a JPY-pegged stablecoin, which will trade at a 1:1 ratio with the Japanese yen. Stablecoins are cryptocurrencies that are pegged to an external reference, such as the U.S. dollar, euro, or yen. These tokens play a crucial role by facilitating capital transfers used for trading, investing, remittances, or international payments, all while bypassing the volatility typically associated with other cryptocurrencies. JPYC is not alone in pursuing a yen-pegged stablecoin. Last week, Tokyo-based financial services company Monex Group announced that it is considering launching its own JPY stablecoin aimed at international remittances and corporate settlements. Oki Matsumoto, Chairman of Monex Group, told local media, “Issuing stablecoins requires significant infrastructure and capital, but if we don’t handle them, we’ll be left behind.” BOJ rate hike Both leading bankers and traders expect the BOJ to hike rates in the coming months, while the U.S. Federal Reserve is seen doing the opposite. Hiroshi Nakazawa, head of Hokuhoku Financial Group, one of Japan’s largest regional banks by assets, said over the weekend that the BOJ could raise interest rates in either October or December, assuming “things go smoothly.” Shares in Hokuhoku Financial Group have been the best-performing banking stocks this year, with prices rallying 90% to top the Topix banks index, which includes 70 lenders. Nakazawa’s outlook aligns with the broader market consensus on upcoming rate hikes. According to Bloomberg Economics, the recently released Tokyo inflation report likely reinforced the BOJ’s view that consumer price momentum remains strong, on track to reach its 2% target. The team forecasts a 25 basis point rate hike at the BOJ’s October meeting. The anticipated rate hike could prompt investors to move funds into JPY-backed stablecoins. Recall that the 2022 Fed rate hike cycle was seen as boosting demand for USD-pegged stablecoins, although the appeal of stablecoins was later temporarily dented by the Terra crash in May 2022. The BOJ raised rates twice in recent years, from 0.1% to 0.25% in July last year and then another 25 basis point hike in January. Since then, the central bank has kept rates steady. Japanese yields rise, BTC/JPY drops Yields on longer-duration Japanese government bonds (JGBs), the third largest government debt market after the U.S. and China, have climbed to multi-decade highs, reflecting fiscal concerns and the strong expectation of an imminent BOJ rate hike. For example, the 30-year JGB yield recently surged to a record high of over 3.2%, while the 10-year yield reached 1.64%, levels not seen since 2008, according to TradingView data. Adding to the yen’s appeal is the narrowing gap between U.S. and Japanese 10-year yields, which has tightened to 2.62%, the lowest since August 2022. Because the USD/JPY exchange rate closely tracks this yield differential, a regression analysis by MacroMicro suggests the pair should trade around 144.43, compared to Friday’s level of approximately 147.00. In other words, the regression analysis points to appreciation in the yen. The strengthening yen and expected rate hikes also imply downside potential for BTC/JPY. The cryptocurrency pair listed on bitFlyer has already dropped 8% this month, hitting its lowest level since July 9. This recent sell-off has triggered a classic double top bearish reversal pattern on the daily chart. Technical analysis using the measured move method suggests the double top breakdown could lead prices to fall to about 14,922,907 JPY. This target is calculated by subtracting the height between the two peaks and the interim trough from the trough low, indicating further downside risk for bitcoin priced in yen. More For You Rich Bitcoiners Are Reportedly Spending BTC on Luxury Holidays: Does This Really Make Sense? Private jet flights, yacht cruises and boutique hotels are now taking crypto. But does it make sense for bitcoin’s new wealthy to actually spend their coins? What to know: Several private jet, cruise and hotel operators are now reportedly accepting crypto as bitcoin wealth drives luxury holiday demand. Bitcoin’s infamous “pizza story” highlights the risk of spending BTC too early, but some wealthy holders may see today’s high prices as a chance to lock in value. Using BTC for purchases triggers capital-gains tax in places like the U.S. and U.K., complicating the appeal of using crypto to pay for goods and services. Read full story Read More

Major Bitcoin Breakout Could be Brewing as Retail and Institutions Stack ‘Relentlessly’ Bitcoin accumulation by retail and institutions is hitting highs, with one analyst saying it could set the stage for a major breakout as price steadies near $109,000 Updated Aug 31, 2025, 6:49 p.m. Published Aug 31, 2025, 5:15 p.m. Bitcoin is holding steady around $108,716, according to CoinDesk Data, but behind the flat price action are signs of a potential breakout as both retail and institutions ramp up accumulation. On Aug. 29, André Dragosch, European head of research at Bitwise, noted that corporate adoption of bitcoin has accelerated at a historic pace. He said that July and August alone saw the creation of 28 new bitcoin treasury companies and an increase of more than 140,000 BTC in aggregate corporate holdings. That figure is nearly equivalent to the total amount of new bitcoin mined in a year (which is around 164,000 BTC), underscoring how demand from treasuries is soaking up supply faster than it is produced. The accompanying Bitwise chart showed a steep upward curve, highlighting how companies are increasingly treating bitcoin as a reserve asset in the mold of Michael Saylors’ Strategy (MSTR). Corporate treasuries added 140,600 BTC in July–August, per Bitwise (Bitwise/X) Moments later, Dragosch addressed a popular narrative among analysts that bitcoin could “top out” in 2025 because of post-halving cycle patterns seen in earlier years. He argued that such thinking overlooks the scale of institutional demand today. Institutional demand outpacing supply more than 6x in 2025, Bitwise data shows (Bitwise/X) His chart showed that as of Aug. 29, 2025, institutional demand has absorbed over 690,000 BTC, compared with a new supply of just over 109,000 BTC, making demand roughly 6.3 times larger than supply. While Dragosch described it as nearly seven times, the precise ratio still illustrates an extraordinary imbalance that challenges historical cycle comparisons. For investors, the implication is that halving-driven supply dynamics may matter less in the current era of institutional adoption. Two days earlier, on Aug. 27, Dragosch pointed to retail buying as another driver. He said the rate of accumulation across all bitcoin wallet cohorts — from small holders to whales — had reached its highest level since April. In his words, investors appear to be “stacking relentlessly.” The Bitwise chart attached showed sharp upward moves across wallet groups, suggesting that retail demand is lining up with institutional flows. Historically, synchronized accumulation across cohorts has often preceded major upside moves, making the current environment notable for bulls. Bitcoin wallet cohorts show strongest accumulation since April 2025 (Bitwise/X) Despite the accumulation of data, bitcoin is little changed at $108,716 in the past 24 hours, according to CoinDesk Data, as markets await clearer catalysts. Price Analysis Highlights (All times are UTC) According to CoinDesk Research’s technical analysis data model, between Aug. 30 15:00 UTC and Aug. 31 14:00 UTC, bitcoin traded in a narrow $1,285 range, peaking at $109,518.96 before retreating. Resistance held firm near $109,500 on a volume spike of 6,077 BTC.Support formed around $108,350–$108,400, where buyers stepped in. A surge in volume to 8,272 BTC at 13:00 UTC pointed to institutional participation at these levels. In the final hour of the analysis period, BTC broke higher from $108,340.08 to $108,398.41, with a two-phase move: consolidation around $108,260–$108,350, followed by a breakout above $108,470 resistance at 13:46 UTC. Profit-taking created pullbacks to the $108,320–$108,360 range, but sustained buying kept prices above $108,380 into the close. Volatility remains elevated after the sharp drop from $124,500 earlier in August. BTC is still below key $110,500 resistance, and analysts caution that a test of the $100,000 psychological level cannot be ruled out. Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy. More For You Rich Bitcoiners Are Reportedly Spending BTC on Luxury Holidays: Does This Really Make Sense? Private jet flights, yacht cruises and boutique hotels are now taking crypto. But does it make sense for bitcoin’s new wealthy to actually spend their coins? What to know: Several private jet, cruise and hotel operators are now reportedly accepting crypto as bitcoin wealth drives luxury holiday demand. Bitcoin’s infamous “pizza story” highlights the risk of spending BTC too early, but some wealthy holders may see today’s high prices as a chance to lock in value. Using BTC for purchases triggers capital-gains tax in places like the U.S. and U.K., complicating the appeal of using crypto to pay for goods and services. Read full story Read More

Bitcoin’s Rough August Wiped Out Summer Rally; What September Might Bring There’s not an unlimited pool of capital available for crypto, and ether attracted the big money this month. Aug 31, 2025, 12:00 p.m. There are few things more insufferable in financial markets than seasonal indicator discussions. The grandaddy may be “sell in May, then go away,” which gets dragged out every spring, but probably hasn’t been a valid signal since the days of Jesse Livermore, when traders literally sold in May and then headed to the beach for the summer. A set of seasonal indicators have developed around crypto even as the markets — just a few years old — have far too few observations for anything to be statistically valid. Among the favorites is that August tends to be rough month for prices. Credit where it’s due, though — the seasonality fans got it right this time, at least for bitcoin BTC$108,083.54. Despite continuing inflows in spot ETFs, Federal Reserve Chairman Jerome Powell flipping from hawk to dove, and touching a new record high, bitcoin (with just a few hours left to go), has slipped 8% this month. At just above $108,000 bitcoin has also declined about 13% since hitting that new record above $124,000 on Aug. 13. The selling has wiped out bitcoin’s summer rally, the price now modestly below its Memorial Day level of $109,500. Capital isn’t infinite Bitcoin’s poor record this month stands in stark contrast to that of ether (ETH), which rose 14% in August, thus outperforming BTC by a whopping 2,200 basis points. Ether’s relative surge came as it attracted large amounts of capital via ETH treasury companies and the spot ETH ETFs. Launched a few months after the spot BTC ETFs, the ETH funds had seen far more modest inflows than the wildly popular BTC vehicles. That’s changed in a big way of late. The ETH ETFs this month through Aug. 28 saw $4 billion of inflows versus just $629 million for the BTC ETFs, according to Bloomberg’s James Seyffart. That alone is impressive, but when considering relative market caps — ether’s $500 billion is less than 25% of BTC’s $2.1 trillion — those numbers are far more mind-boggling. In a world where the U.S. Fed is running a modestly tight monetary policy and fiscal policy is getting tighter thanks to higher tariffs (otherwise known as higher taxes), capital is limited. For crypto in August, at least, that capital was directed to ether, apparently at the expense of bitcoin. The outlook First the bad news: seasonality patterns suggest September tends to be even worse for bitcoin than August. In twelve Septembers going back to 2013, bitcoin has declined in eight, according to Glassnode. In the four times BTC managed an advance that month, the gains were fairly modest. All told, the average for September over the last dozen years has been negative 3.8%. The good news: it’s twelve Septembers and that alone is hardly a large enough sample size to pay attention to. Also, at least seven of those observations (2013-2019) were prior to bitcoin being anything more than a fringe asset and on the radar screen of only a very few investors. More For You Rich Bitcoiners Are Reportedly Spending BTC on Luxury Holidays: Does This Really Make Sense? Private jet flights, yacht cruises and boutique hotels are now taking crypto. But does it make sense for bitcoin’s new wealthy to actually spend their coins? What to know: Several private jet, cruise and hotel operators are now reportedly accepting crypto as bitcoin wealth drives luxury holiday demand. Bitcoin’s infamous “pizza story” highlights the risk of spending BTC too early, but some wealthy holders may see today’s high prices as a chance to lock in value. Using BTC for purchases triggers capital-gains tax in places like the U.S. and U.K., complicating the appeal of using crypto to pay for goods and services. Read full story Read More

Bitwise’s André Dragosch argues gold still protects against stock sell-offs while bitcoin hedges bond stress — raising questions about their roles in 2025 portfolios. Updated Aug 31, 2025, 4:56 p.m. Published Aug 31, 2025, 8:12 a.m. Given the Trump administration’s vocal and demonstrated support for crypto, some investors are likely wondering whether gold’s days as the world’s favorite hedge asset are numbered. André Dragosch, European head of research at Bitwise Asset Management, suggests the choice isn’t so simple. In a post on X Saturday, he offered a rule-of-thumb: gold still works best as protection against stock market losses, while bitcoin increasingly acts as a counterweight to bond market stress. Gold: Hedge of choice The reasoning starts with history. When equities sell off, investors often rush into gold. Decades of market data back this up. Gold’s long-run correlation with the S&P 500 has hovered near zero, and during market stress, it often dips into negative territory. For example, in the 2022 bear market, gold prices rose about 5% even as the S&P 500 tumbled nearly 20%. That pattern illustrates why gold is still considered the classic “safe haven.” Bitcoin: A bond market counterweight Bitcoin, by contrast, has often struggled during equity panics. In 2022, it collapsed by more than 60% alongside tech stocks. But its relationship with U.S. Treasuries has been more intriguing. Several studies note that bitcoin has shown a low or even slightly negative correlation with government bonds. That means when bond prices sink and yields rise — as they did in 2023 during fears over U.S. debt and deficits — bitcoin has sometimes held up better than gold. Dragosch’s takeaway: investors don’t need to pick one over the other. They play different roles. Gold is still the better hedge when stocks wobble, while bitcoin may help portfolios when bond markets are under pressure from rising rates or fiscal worries. Does it work in 2025? The split has been clear this year. As of Aug. 31, gold was up more than 30% year-to-date, according to World Gold Council data. That surge reflects renewed demand during bouts of equity volatility tied to tariffs, slowing growth, and political risk. Bitcoin, meanwhile, has gained about 16.46% this year, based on CoinDesk Data, a solid performance considering that 10-year U.S. Treasury yields have fallen around 7.33%, according to MarketWatch data. The S&P 500, by comparison, is up roughly 10% in 2025, per CNBC data. The diverging performance underscores Dragosch’s heuristic: gold has benefited most from equity jitters, while bitcoin has held its ground as bond markets wobble under the weight of higher yields and heavy government borrowing. This isn’t just Dragosch’s personal view. A Bitwise research report earlier this year noted that gold remains a reliable hedge against stock market downturns, while bitcoin has tended to provide stronger returns during recoveries and shows lower correlation with U.S. Treasuries. The report concluded that holding both assets can improve diversification and optimize risk-adjusted returns. The caveats Still, correlations aren’t static. Bitcoin’s ties to equities strengthened in 2025 thanks to large inflows into spot ETFs, which have attracted billions from institutional investors. The huge net inflows into spot Bitcoin ETFs make BTC trade more like a mainstream risk asset, reducing its “purity” as a bond hedge. Short-term shocks can also scramble the picture. Regulatory surprises, liquidity squeezes, or macro shocks may move both gold and bitcoin in the same direction, limiting their usefulness as hedges. Dragosch’s rule-of-thumb, in other words, is just that — a thesis, not a guarantee. Trump’s pro-crypto stance raises a provocative question: Is it time to abandon gold entirely in favor of bitcoin? Dragosch’s answer, supported by years of data, is no. Gold still works best when stocks tumble, while bitcoin may offer shelter when bonds are under pressure. For investors, the lesson isn’t ditching one asset for the other, but recognizing that they hedge different risks — and using both may be the smarter play. AI Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy. More For You Rich Bitcoiners Are Reportedly Spending BTC on Luxury Holidays: Does This Really Make Sense? Private jet flights, yacht cruises and boutique hotels are now taking crypto. But does it make sense for bitcoin’s new wealthy to actually spend their coins? What to know: Several private jet, cruise and hotel operators are now reportedly accepting crypto as bitcoin wealth drives luxury holiday demand. Bitcoin’s infamous “pizza story” highlights the risk of spending BTC too early, but some wealthy holders may see today’s high prices as a chance to lock in value. Using BTC for purchases triggers capital-gains tax in places like the U.S. and U.K., complicating the appeal of using crypto to pay for goods and services. Read full story Read More