BIS paper finds major gap in Bitcoin onchain transfer estimates

Researchers at the Bank for International Settlements found that estimates of Bitcoin onchain transfer values can vary by as much as sixfold depending on how transactions are measured.  The finding concerns onchain Bitcoin transfer values, rather than trading volume on crypto exchanges. The sixfold gap reflects differences between measurement methods, including how change outputs and other transfers back to the sender are treated.  The discrepancy stems largely from Bitcoins transaction structure. When users spend Bitcoin, unspent funds are often returned to the sender as change, which can be counted as another output even though it does not represent funds being transferred to another party.Breakdown of blockchain records analyzed in the BIS study. Source: BIS  “Metrics such as transaction volumes, market capitalisation and total value locked often suggest a degree of accuracy that is not supported by the nature of the underlying data,” the researchers wrote.  The measurement problem also extends to Bitcoins market capitalization. The researchers found that the conventional measure has at times been as much as four times higher than realized capitalization, which values each coin at the price when it last moved.  The study, based on 100 billion blockchain records across Bitcoin, Ethereum and Tron, found that similar measurement challenges extend across

09-16Industry

Leading Economist is Bullish on Copper. So Why is the Price Falling?

The copper price trades near $6.30 a pound on Tuesday, down almost 8% from its early August record, after the metal posted its first losing week since June.  Economist Steve Hanke told his followers to stay long on copper six days ago, hours before the rally stalled. The supply case behind his call, however, has not changed.  Sponsored  Sponsored  Copper Mine Supply is Shrinking for the First Time Since 2017  Hanke published his note on September 9, with London Metal Exchange prices still setting fresh highs.  “The price of copper on Londons LME is SOARING. Morgan Stanley now reports that this year could mark the first annual decline in the supply of copper coming from mines since 2017. STAY LONG COPPER,” said Steve Hanke, Professor of Applied Economics at Johns Hopkins University  International Copper Study Group data shows global mine output fell 1.1% in the first half of 2026.  Freeport-McMoRans Grasberg mine is still running at roughly half capacity after a fatal landslide. Chile has cut its national production forecast again. Ore grades are also deteriorating, forcing miners to move more rock for less copper.  Copper price context chart showing annual change in copper mine production from 2016 to 2026. Source: X  Three producers explain most of the shortfall. Freeport-McMoRan

09-16Industry

BIS Study Finds Major Discrepancies in Bitcoin Onchain Metrics

Researchers at the Bank for International Settlements found that estimates of Bitcoin onchain transfer values can vary by as much as sixfold depending on how transactions are measured.  The finding concerns onchain Bitcoin transfer values, rather than trading volume on crypto exchanges. The sixfold gap reflects differences between measurement methods, including how change outputs and other transfers back to the sender are treated.  The discrepancy stems largely from Bitcoins transaction structure. When users spend Bitcoin, unspent funds are often returned to the sender as change, which can be counted as another output even though it does not represent funds being transferred to another party.  Breakdown of blockchain records analyzed in the BIS study. Source: BIS  Discover more  NEWS  Finance  Merchant Services & Payment Systems  “Metrics such as transaction volumes, market capitalisation and total value locked often suggest a degree of accuracy that is not supported by the nature of the underlying data,” the researchers wrote.  The measurement problem also extends to Bitcoins market capitalization. The researchers found that the conventional measure has at times been as much as four times higher than realized capitalization, which values each coin at the price when it last moved.  The study, based on 100 billion blockchain records across Bitcoin, Ethereum and Tron, found that

09-16Industry

Bitcoin, BTC-Related Stocks Tumble After Senate Blocks Clarity Act

Bitcoins price tumbled — along with crypto-related stocks — following the blockage of the long-awaited Clarity Act.  The price of the leading cryptocurrency recently stood at $75,939, down 4% over the past day, after dropping as low as $75,038 at one point on Tuesday.  Lawmakers blocked the landmark digital asset market structure bill in a procedural vote Tuesday. Major companies in the digital asset space have long called for clear rules to be put in place to regulate the industry.  Bitcoin wasnt the only asset that dropped: BTC-related stocks such as Coinbase (NASDAQ: COIN) and Strategy (MSTR) were also down.  America‘s biggest crypto exchange’s stock dropped by more than 10%; Strategy, the largest corporate holder of bitcoin slid by over 5%.  Major publicly traded bitcoin miners also dropped in price, with MARA, CleanSpark, and Core Scientific all slipping by 5% or more over the past day.  Senators mostly voted against advancing the legislation — 49 for and 50 against — that the digital asset industry has long called for.  The bill aims to formally divide oversight between regulators, distinguishing which digital assets are securities, commodities or stablecoins.  President Donald Trump last month urged lawmakers to pass it, helping spur a bitcoin rally. But Republicans warned for months that

09-16Industry

$300M in Crypto Longs Liquidated in Minutes After CLARITY Act Fails

Crypto traders were hit with a brutal liquidation wave after the U.S. Senate failed to advance the CLARITY Act.  Roughly $300 million in leveraged crypto long positions were reportedly liquidated in about 20 minutes, while Bitcoin dropped below $75,000. Ethereum, XRP and other major cryptocurrencies also moved sharply lower.  The selloff followed the Senates 49–50 procedural vote, well short of the 60 votes required to advance the legislation.  $300M Wiped Out in Minutes  The speed of the decline was amplified by leverage.  When Bitcoin started falling, exchanges automatically closed leveraged long positions that could no longer meet margin requirements. Those forced sales can push prices even lower, triggering additional liquidations.  The result was a classic liquidation cascade: falling prices triggered forced selling, which created even more downward pressure.  Why the CLARITY Act Mattered  The CLARITY Act was designed to establish clearer federal rules for digital assets and determine how crypto markets and trading platforms should be regulated.  Its failure removed a major regulatory catalyst that the industry had spent months anticipating.  The reaction also builds on the broader CLARITY Act failure and Bitcoins drop below $75K, with traders now questioning how quickly comprehensive U.S. crypto legislation can return.  Bitcoin Had Other Problems  Washington wasnt the only source of pressure.  Bitcoin was already struggling

09-16Industry

Stablecoins could boost US dollar and Treasury demand: BoE

Dollar stablecoins have grown to about $300 billion in circulation, prompting a Bank of England policymaker to warn that their expansion could increase demand for US Treasurys while creating new risks during periods of heavy redemptions.  Stablecoins could extend the dollar into new markets  The Bank of England said in a Sep. 15 speech that stablecoins could reinforce the US dollars international role by making dollar-linked assets and settlement systems easier to access outside the United States.  Carolyn Wilkins, an external member of the central bank‘s Financial Policy Committee, told an audience at Queen’s University Belfast that dollar stablecoins already have a “considerable first-mover advantage.” About 98% of stablecoin value is denominated in dollars, according to figures cited in her speech.  Stablecoins in circulation reached roughly $300 billion by mid-2026, compared with less than $5 billion at the beginning of 2020. Although most activity still involves crypto trading, lending, collateral, and market liquidity, Wilkins said the tokens could move deeper into payments and international finance.  Cross-border settlement forms one channel for that expansion. Stablecoin transfers can operate around the clock and move between countries without passing through every institution in a traditional correspondent banking network.  Research cited by Wilkins found that such systems could lower costs

09-16Industry

7-day blockchain outage wipes out a full week of staking rewards after emergency aelf shutdown

aelf, a blockchain network built around its AELF MainChain and tDVV dAppChain, has restored public node access and several core services after malicious smart-contract activity led to a controlled recovery. The incident halted block production for approximately one week, and the reopening remains incomplete.  Related Asset aelf #366 ELF · $0.06 24-hour change: down 20.12% Loading price history… 24H Down 20.12% 7D Up 15.57% 30D Up 4.67%  The projects Sept. 14 recovery update said both public nodes were available again, alongside the aelfscan explorer, FairyVault transfers, Awaken trading, Forest NFT browsing and the TMRW DAO staking interface. On Sept. 15, the MainChain and tDVV status endpoints were reachable with advancing block heights, though those checks did not test whether users could submit transactions.  The aelfscan, FairyVault, Awaken, Forest and TMRW DAO frontends were also reachable. No end-to-end transfer, trade or reward claim was executed during those checks.  What remains incomplete  aelf said exchange deposits and withdrawals were resuming gradually and could differ by venue. Bithumbs updated notice scheduled ELF deposits and withdrawals to restart on Sept. 14 at 14:00 KST. MEXC scheduled its resumption for Sept. 5 and told users to generate new deposit addresses because previous ones were invalid. These announcements set venue schedules

09-16Industry

Robinhood engineers charged over $50K crypto scheme

Federal prosecutors have charged two Robinhood engineers with commodities fraud and wire fraud after each allegedly earned more than $50,000 by trading crypto perpetual futures with confidential listing information.  SummaryTwo Robinhood engineers allegedly traded before the company announced new cryptocurrency listings.Each defendant allegedly earned more than $50,000 through perpetual futures positions on Hyperliquid.Commodities fraud carries a maximum 10-year sentence, while wire fraud carries up to 20 years.The criminal complaints remain allegations, and both engineers are presumed innocent unless convicted.  Robinhood engineers allegedly traded before listings  The U.S. Attorneys Office for the Southern District of New York announced the charges against Hefu Chai, 36, and Huaisong Xiang, 30, also known as Jerry Xiang, on Sep. 15.  Both defendants worked as engineers at Robinhood Markets during the alleged conduct. According to the criminal complaints, their jobs gave them access to confidential information about which cryptocurrencies Robinhood Crypto planned to add to its platform and when the listings would become public.  Prosecutors allege that Chai and Xiang used the information between 2025 and 2026 to open perpetual futures positions linked to the planned listings. Rather than buying the underlying tokens, they allegedly placed the trades through Hyperliquid before Robinhood released its announcements.  Discover more  Engineering & Technology  Digital Currencies  Economics  Once the listings

09-16Industry

CLARITY Act Isnt Dead, but Washington Is Running Out of Calendar

Key TakeawaysThe CLARITY Act fell 11 votes short Tuesday, losing its cloture vote 49-50.H.R. 3633 stays on the Senate calendar, allowing John Thune to try cloture again.Congress can revisit the CLARITY Act, but January 2027 brings a legislative reset.  The Senate Never Even Got to Debate the Bill  After more than a year of negotiations, committee work, and political horse-trading, the CLARITY Act made it to the Senate floor Tuesday afternoon. Then the door stayed shut. The 49-50 cloture vote wasnt a vote on whether H.R. 3633 should become law. It was a vote on whether senators should begin debating it at all.  Sixty votes were required. Without them, debate doesn‘t begin, amendments don’t start flying, and theres no final-passage vote waiting around the corner. The House had already passed its version 294-134 in July 2025, while the Senate Banking Committee advanced the legislation 15-9 in May.  Democrats were not having it. For instance, Senator Elizabeth Warren (D-MA) stressed on X:  “Senate Republicans are trying to jam through a crypto bill that would let Trump continue lining his pockets off the crypto industry.”  First, the CLARITY Act Stays on the Calendar  Here‘s the strange part: losing cloture doesn’t formally kill H.R. 3633. The legislation remains Calendar No.

09-16Industry

Dense vs. MoE Models: Key Tradeoffs Developers Must Know

Iris Coleman  Sep 15, 2026 19:36  Exploring dense vs. Mixture-of-Experts (MoE) models for AI: when to prioritize simplicity or scalability, with insights on performance and memory trade-offs.  NVIDIAs latest blog post, published on September 15, 2026, dives into the architectural trade-offs between dense and Mixture-of-Experts (MoE) AI models. These two dominant approaches to building large-scale language models (LLMs) offer distinct advantages depending on the deployment context, making this guidance highly relevant for developers and enterprises grappling with deployment choices.  The core difference between dense and MoE models lies in parameter usage. Dense models activate all parameters for every input token, ensuring straightforward deployment and predictable performance. MoE models, on the other hand, use a routing mechanism to activate only a subset of parameters (called “experts”) per token, making them more efficient in compute-intensive scenarios but more complex to deploy and manage.  Why MoE Models Are Gaining Traction  MoE models like NVIDIA‘s Nemotron 3.5 Lightning and Google’s Switch Transformer offer scalability and throughput advantages by activating only a fraction of parameters per token. For instance, Nemotron 3.5 Lightning, a 30-billion-parameter model, uses just 3 billion active parameters per token while maintaining the capacity of the full model. This selective activation allows MoE models to decouple memory requirements

09-16Industry
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