Bitcoin held relatively steady Wednesday, trading just above $63,600, as investors weighed the cryptocurrency’s recent consolidation against the backdrop of a closely watched U.S. inflation report expected to shape the near-term outlook for Federal Reserve interest rate policy.

Bitcoin traded at $63,631.47, up $99.71, or 0.16%, as of 2:04 p.m. UTC, according to trading data. The digital currency opened Wednesday at $63,547.05, roughly 0.6% below Tuesday’s opening price, before climbing modestly through the morning to trade above $64,000 at several points during the session. The cryptocurrency has spent recent sessions consolidating within a range of roughly $63,000 to $65,000, with short-term price swings driven largely by shifting expectations around inflation data and broader macroeconomic risk appetite.

The muted trading came ahead of the release of July’s Consumer Price Index report, which showed inflation cooling modestly to a 3.4% annual rate, easing from June’s 3.5% pace and matching economists’ expectations. Because interest rate increases tend to weigh on non-yielding, risk-sensitive assets like cryptocurrency, softer inflation data that reduces the likelihood of further Federal Reserve tightening has generally been viewed as a supportive factor for bitcoin and other digital assets in recent sessions.

Bitcoin’s current trading range stands in sharp contrast to the cryptocurrency’s performance just months earlier. Bitcoin reached an all-time high of $126,198.07 on October 6, 2025, meaning Wednesday’s price represents a decline of roughly 50% from that peak. Ethereum, the second-largest cryptocurrency by market value, has followed a similar trajectory, trading around $1,880 to $1,915 Wednesday after reaching its own all-time high of $4,953.73 on August 24, 2025.

Bitcoin’s market capitalization stood at approximately $1.28 trillion to $1.33 trillion as of Wednesday, according to various tracking services, keeping it well ahead of Ethereum’s market cap of roughly $233 billion and maintaining its position as the largest cryptocurrency by a wide margin. Twenty-four-hour trading volume for bitcoin ranged between roughly $9.5 billion and $20.8 billion depending on the data source, reflecting continued active trading even amid the recent period of relative price consolidation.

Some market analysts have pointed to persistent exchange-traded fund outflows as a factor weighing on bitcoin’s ability to break decisively out of its current trading range. Slight fluctuations in ETF net flows have suggested a mild adjustment in institutional sentiment toward the cryptocurrency in recent weeks, with continued outflows seen by some analysts as a risk that could pressure prices further if the trend persists. Whether bitcoin can hold above the psychologically significant $63,000 level has become a key technical focus for traders monitoring the asset’s near-term direction.

Corporate activity around bitcoin has continued even amid the price consolidation. MARA Holdings, the publicly traded bitcoin mining company formerly known as Marathon Digital Holdings, secured $750 million in combined loan facilities through two term loans that closed on August 4, pledging 18,750 bitcoin as part of the financing arrangement, according to the company. The move ranks among the more significant corporate bitcoin-related financing transactions of 2026 and reflects continued institutional interest in leveraging bitcoin holdings for capital access even during a period of price softness relative to the cryptocurrency’s late-2025 peak.

Separately, Phong Le, chief executive of Strategy, the business intelligence company that has built one of the largest corporate bitcoin treasuries in the world, has sought to reassure investors that the company’s bitcoin holdings will continue growing through the remainder of the year, according to recent reporting, even as bitcoin’s price has retreated substantially from its record highs.

Federal Reserve officials are expected to weigh Wednesday’s inflation data heavily as they approach their September policy meeting. Following a disappointing July jobs report released earlier this month, many market participants had already begun scaling back expectations for a near-term interest rate increase, a shift that has provided some support for both cryptocurrency and precious metals markets in recent sessions, according to Yahoo Finance market analysis. Gold, which similarly benefits from reduced rate-hike expectations, has traded near multi-month highs in the same period that bitcoin has struggled to sustain a decisive move higher, a divergence some analysts have attributed to bitcoin’s more speculative, risk-asset classification compared with gold’s traditional safe-haven status.

Bitcoin’s broader price trajectory over the past year illustrates the scale of the cryptocurrency’s volatility. Wednesday’s price stood roughly $56,000 below where bitcoin traded at this time last year, according to Fortune’s tracking of the asset, reflecting a dramatic decline even as the cryptocurrency remains well above levels seen in prior market cycles. That volatility has remained a defining characteristic of bitcoin trading throughout 2026, with the asset swinging sharply in both directions in response to shifting monetary policy expectations, regulatory developments, and broader risk sentiment across global financial markets.

With Wednesday’s inflation data now digested and closely matching expectations, traders are likely to turn their attention toward any further signals from Federal Reserve officials regarding the central bank’s approach heading into its September meeting, a decision that could prove pivotal in determining whether bitcoin can break decisively out of its recent consolidation range in either direction.

NEW YORK — Ether, the native cryptocurrency of the Ethereum blockchain, traded higher on Wednesday, rising about 0.6% to around $1,892.52 as of early afternoon UTC, supported by expectations and early reactions to U.S. consumer price data that suggested cooling inflation pressures.

The second-largest digital asset by market value moved within a relatively tight range after opening near $1,881 and testing levels above $1,900 during the session. Trading volumes remained solid, reflecting cautious optimism among market participants ahead of and following the July Consumer Price Index release from the U.S. Bureau of Labor Statistics.

Softer-than-expected inflation readings have historically provided a tailwind for risk assets, including cryptocurrencies, by reducing the likelihood of aggressive interest rate increases from the Federal Reserve. Analysts noted that the data, combined with a recent weaker jobs report, has led some observers to scale back expectations for a September rate hike, creating a more supportive backdrop for speculative assets.

Ethereum’s price action comes against a backdrop of significant underperformance over the past year. The token has declined more than 50% from levels near $4,950 reached in August 2025 and is down roughly 35% to 44% year-to-date in 2026, according to market data. Despite the drawdown, network activity has remained robust in certain segments, with Ethereum continuing to dominate areas such as stablecoins, decentralized finance and the tokenization of real-world assets.

Institutional interest has shown signs of stabilization after periods of outflows. U.S. spot Ethereum exchange-traded funds have recorded mixed but occasionally positive net flows in recent weeks and months, with some reports noting hundreds of millions in cumulative inflows over longer periods since their launch. Products offering staking yields have drawn particular attention, as they provide a structural feature unavailable in Bitcoin ETFs. BlackRock and other asset managers have expanded offerings in this space, including staked ether products.

Corporate accumulation has also provided a steady demand source. BitMine Immersion Technologies, one of the largest corporate holders, has continued purchasing ether, building a position reported near 5.8 million tokens, or close to 5% of the circulating supply. Other entities have similarly maintained or increased holdings amid the price weakness.

On the technical and development front, Ethereum has advanced through a series of upgrades. The Fusaka upgrade, which included PeerDAS for improved data availability, has been implemented to support layer-2 scaling. Developers and co-founder Vitalik Buterin have outlined a longer-term “Lean Ethereum” roadmap described as the network’s third major iteration, comparable in scope to the Merge that shifted Ethereum to proof-of-stake. Buterin has indicated the series of improvements could take three to four years and would involve replacing nearly every major piece of the protocol, with a focus on scalability, quantum resistance and efficiency.

An intermediate upgrade known as Glamsterdam, targeting higher throughput through features such as enshrined proposer-builder separation and block-level access lists, is expected in the second half of 2026. Projections associated with these changes include substantial increases in gas limits and potential reductions in fees, though the full impact on value accrual for the native token remains a subject of ongoing discussion within the community.

Organizational changes at the Ethereum Foundation have also marked 2026. The foundation has undergone restructuring, including staff reductions and the spinout of specialized entities focused on research, systems and institutional outreach. Independent groups such as Ethereum Institutional have been established to engage with banks and asset managers, while other initiatives aim to accelerate enterprise adoption and standards development.

Tokenization of real-world assets on Ethereum has grown, with estimates placing the value of such assets in the tens of billions of dollars, far outpacing many competing networks. Stablecoin activity continues to concentrate heavily on the Ethereum ecosystem, reinforcing its role as a settlement and application layer.

Market technicians have identified key levels around $1,850 as near-term support and $1,925 to $1,950 as resistance. A sustained move above the higher band could open further upside, while a break lower might test deeper support zones. Liquidation data has shown clusters of positions that could amplify moves in either direction.

Broader cryptocurrency markets have traded mixed, with Bitcoin hovering near $64,000 and other major tokens showing modest gains or losses. The overall environment remains sensitive to macroeconomic signals, regulatory developments and shifts in institutional flows.

Ethereum’s dual narrative persists: strong fundamental usage metrics and technological progress alongside a native token that has struggled to capture proportional economic value in recent cycles. Proposals related to staking issuance, such as discussions around tapered rewards, have sparked debate among validators, developers and investors about the balance between network security and token economics.

As of Wednesday’s session, the modest advance reflected a market still digesting inflation data and positioning for potential shifts in monetary policy expectations. Whether the rebound gains traction will depend on follow-through in ETF flows, continued corporate buying, successful delivery of upcoming protocol upgrades and the broader risk appetite in global markets.

Ether’s market capitalization stood near $228 billion, maintaining its position as the clear second-largest cryptocurrency. Trading activity across major exchanges remained elevated relative to quieter periods earlier in the summer, underscoring ongoing interest despite the prolonged price correction from 2025 highs.

Investors and analysts will continue monitoring on-chain metrics, including staking ratios, layer-2 activity and real-world asset volumes, alongside traditional market indicators for clues about the next sustained move. For now, the combination of softer inflation readings and resilient network fundamentals has provided a temporary lift to the price of ether.

Social Security beneficiaries are still expected to see a larger cost-of-living adjustment (COLA) in 2027 than they did this year, though it has decreased as inflation eased in July.

By law, the annual Social Security COLA is calculated using the Bureau of Labor Statistics’ consumer price index (CPI) inflation data for the months of July, August and September based on a variant of the dataset known as CPI-W. The COLA boosts beneficiaries’ payments to account for a rise in the cost of living, and the COLA for 2026 amounted to a 2.8% increase.

The BLS released the July CPI inflation data Wednesday that showed consumer prices were up 3.4% from a year ago. That’s down from a 3.5% annual reading in June.

Several groups have released estimates for the 2027 COLA based on the July data and estimates for the next two months of data, which have the COLA landing in a range from 3.2% to 3.6%.

INFLATION COOLED IN JULY BUT REMAINED ELEVATED AS FED WEIGHS RATE HIKES

The nonpartisan Committee for a Responsible Federal Budget released the lowest of those estimates, projecting the COLA will ultimately be at 3.2% when the final data is released this fall. It noted in its analysis that CPI-W was flat in July and is up 3.4% over the last year.

“High COLAs can provide helpful near-term support to seniors, but also impose significant costs for a Social Security retirement fund that is just six years from insolvency,” CRFB said, adding that automatic benefit cuts of 22% would occur if the fund is depleted.

CRFB has proposed reforms to COLAs aimed at helping to shore up Social Security’s solvency, including a COLA cap for high-income beneficiaries as well as a flat rate COLA.

ONE TYPE OF SOCIAL SECURITY ADJUSTMENT COULD CUT THE 75-YEAR SHORTFALL IN HALF

The AARP, which advocates for policies it views as beneficial to people over the age of 50, estimates that the 2027 COLA will be 3.5% in its first-ever COLA estimate to be released before the third-quarter inflation reports come out.

“The sooner that we can give them reliable information as to how much their benefits might [increase next year], the sooner they can start planning,” AARP VP for Financial Security Rich Johnson said.

“There’s a lot of uncertainty about how food and, especially, energy prices will play out over the next two months. This is not set in stone.”

NEW PROPOSAL WOULD CAP SOCIAL SECURITY BENEFITS AT $100K FOR WEALTHY COUPLES

The Senior Citizens League (TSCL) released an estimate that puts the 2027 COLA at 3.6%, which would represent an increase of 0.8 percentage points when compared with the 2026 COLA. 

The TSCL analysis noted that if the estimated COLA were to take effect today, it would amount to an increase of $69.75 in average benefits, rising to $2,007.28 from $1,937.53.

TSCL executive director Shannon Benton said in a statement that, “One of the wildcards in this year’s forecast has been inflation’s volatility. It started the year at 2.2%, then surged to 4.4% by May before falling back to 3.5% in June.”

“That kind of instability can throw off forecasts, but our model is designed to avoid chasing every spike and dip, which has kept our predictions on a relatively steady course,” Benton added.

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The official 2027 COLA will be announced Oct. 14 after the BLS release of September CPI inflation data. It will take effect starting with payments to beneficiaries in January.

The S&P 500 and the Nasdaq ended higher on Wednesday, lifted by upbeat quarterly results from CoreWeave and other AI infrastructure firms, while mild inflation data reinforced bets that the U.S. Federal Reserve will ‌hold interest rates steady ⁠in September. U.S. ⁠consumer prices barely increased in July as the cost of gasoline declined for a second straight month, while underlying inflation was benign, further reducing expectations of an interest rate hike from the Federal Reserve next month.

“The numbers came in right in line. The market’s reaction is slightly positive because the market was fearful it was going to come in worse than it did. You’re seeing a market thinking that the Fed is not being pushed toward a rate ⁠hike,” said ‌Robert Pavlik, senior portfolio manager at Dakota Wealth in Fairfield, Connecticut. CoreWeave surged after the AI cloud company lifted its annual capital spending forecast and topped second-quarter earnings estimates.

Data ⁠center operators also rose, with IREN and Applied Digital both up. Data ​center company Nebius Group jumped following second-quarter results that beat expectations. Super Micro ​Computer surged after the AI server maker forecast fiscal 2027 revenue above Wall Street expectations.

Chipmakers gained, with Nvidia and Micron Technology both climbing.

According to preliminary data, the S&P 500 gained 20.38 points, or 0.26%, to end at 7,748.58 points, while the Nasdaq Composite gained 145.70 points, or 0.55%, to 26,588.49. The Dow Jones Industrial Average fell 30.28 points, or 0.06%, to 53,761.57. Traders are ‌now pricing in a 62% chance of the Fed holding rates at its September meeting, according to CME’s FedWatch Tool. Before the July inflation data was released, bets were split between a hike ⁠and no change.

The conflict between the U.S. and Iran remained volatile as a senior Iranian source said there had been no progress in talks to revive the interim deal reached in June ​and define a time frame to implement it, while shipping attacks continued. Cava Group advanced after the restaurant chain beat Wall Street expectations for second-quarter sales and core profit. Lumentum Holdings surged after the photonic product maker forecast first-quarter revenue above analysts’ expectations and beat fourth-quarter estimates.

Bakeries once run by an 89-year-old chain part-owned by comedian Romesh Ranganathan will reopen under a new name after the sites were sold.

Coughlans Bakery, which had shops in Kent, Surrey, West Sussex and south London, announced it had ceased trading in June, blaming high business rates and increases in employers’ national insurance contributions.

Bakery business Janes Pantry, based in Gloucestershire, said it had acquired a number of Coughlans’ shops from the liquidators, and would open 20 shops under its own brand.

Former staff from Coughlans will be invited to reapply for roles at the reopened sites, it added.

The bakery said: “Every shop that reopens means jobs restored, a unit back in use and footfall returning to the high street, which we believe serves everyone’s interests: ours, theirs and the wider local economy’s.”

Other sites within the Coughlan’s estate are subject to further discussions, it added.

Crawley-born Ranganathan, who is vegan, initially became involved with the business because of its range of plant-based products, but will not be involved in the new venture.

He previously said he was “gutted” the chain had closed.

Former managing director Sean Coughlan had said increases in employers’ national insurance contributions and high business rates “absolutely smashes local business”.

Commons Leader Sir Alan Campbell subsequently defended the change, saying it was needed to “spend more and invest in our public services”.

Janes Pantry first opened in Gloucester in 1971, and currently runs 12 shops employing more than 100 staff, the bakery said.

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Investors face delays due to Indonesia’s licensing and regulatory requirements, requiring separate incorporation for PT PMA from a representative office, affecting timelines, governance, and operational transition.

Challenges in Indonesia’s Investment Process

Foreign investors entering Indonesia often invest significant effort in assessing market demand, finding partners, and preparing financial plans. However, delays frequently occur due to assumptions made prior to establishing the appropriate investment vehicle. Indonesia’s complex licensing framework, classification of business activities, and regulatory requirements can necessitate revising initial plans, extending timelines and increasing costs before commercial operations begin.

Differences Between Representative Offices and PT PMA

A representative office typically handles non-commercial tasks like market research and business development, without engaging in revenue-generating activities. A PT Penanaman Modal Asing (PMA), on the other hand, is set up to conduct business and must secure the necessary licenses. Transitioning from a representative office to a PT PMA isn’t seamless; it requires a separate incorporation and licensing process, which can delay market entry.

Impact of Governance Structures

Indonesia’s company governance is established at incorporation, distinct from operational start. The Board of Directors manages daily affairs, while the Board of Commissioners oversees supervision. These structures influence operational efficiency, especially within multinational groups. If governance arrangements aren’t aligned with the group’s operating model, it can lead to approval delays, affecting contracts, financing, and expansion efforts nationwide.

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Read the original article : Common Structuring Assumptions That Delay Indonesia Market Entry

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Singapore’s financial sector is vital, heavily regulated, and attracts foreign investment. Licensing depends on activities under the Payment Services Act, Securities and Futures Act, or Financial Advisers Act.

Singapore’s Financial Sector Overview

Singapore remains a top financial hub in Asia, attracting foreign investments across banking, asset management, fintech, and digital financial services. The sector accounts for approximately 14% of the country’s GDP and employs around 200,000 professionals. By the end of 2025, Singapore managed assets totaling S$6.7 trillion (US$5.2 trillion). When entering this market, foreign investors must first determine if their activities align with Singapore’s financial regulations, influencing licensing needs and legal structuring.

Regulatory Framework for Payment and Investment Services

The Payment Services Act 2019 (PSA) oversees a range of payment-related activities, including money transfers, e-money issuance, and digital token services. Businesses engaging in these activities require either a Standard or Major Payment Institution license, depending on their scale. Investment activities, such as fund management or dealing in capital markets, are regulated under the Securities and Futures Act 2001 (SFA), often necessitating a Capital Markets Services (CMS) license unless exemptions apply. Financial advisory services also require licensing under the Financial Advisers Act 2001 (FAA).

Licensing and Market Entry Strategies

Most foreign investors establishing regulated financial services in Singapore opt for a subsidiary, which simplifies licensing procedures. Branch offices are permissible for certain institutions, while representative offices are limited to non-commercial activities. Capital requirements and prudential standards vary based on the scope of financial services offered, influencing the investment’s prudence and feasibility. Proper licensing ensures compliance and smooth market entry.

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Read the original article : Launching a Financial Services or Fintech Business in Singapore: What Foreign Investors Need to Know

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Mark Walter’s time as the majority owner of the Los Angeles Lakers is up after less than a year.

After purchasing his stake in the organization for a $10 billion valuation in October, the Lakers were sold to American businessmen Josh Kushner and Bob Iger for a record price of over $12 billion.

“As lifelong NBA fans, we are deeply honored for the opportunity to become stewards of the Los Angeles Lakers, one of the most iconic sports franchises in the world. We have immense respect for the leadership and vision of Jerry and Jeanie Buss,” Kushner and Iger said in a statement, via ESPN. 

“Our long-term commitment is to build on that foundation, compete at the highest level, and serve this extraordinary team, its fans, and the city of Los Angeles.”

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“Owning the Los Angeles Lakers has been one of the great honors of my life — an extraordinary investment, but what I will carry with me is the community, the fans, and a city that treats this team as family. I am grateful to Jeanie Buss, the Buss family, the players, and the staff for welcoming me into this chapter. The Lakers belong to Los Angeles, and I have every confidence the best is still ahead,” Walter said in a statement.

Iger is the former CEO of Disney, holding that title two separate times. He stepped down in March. Kushner, the younger brother of Ivanka Trump’s husband Jared, founded Thrive Capital and Oscar Health.

Kushner and Iger were in the sweepstakes for purchasing an NBA expansion team in Las Vegas. Walter, though, is under federal investigation for alleged tax fraud.

KNICKS STAR JALEN BRUNSON IS A MAN OF THE PEOPLE, REVEALS THE ONE THING HE CAN’T LIVE WITHOUT

When Jerry Buss died in 2013, the Lakers were passed down to his children, and Jeanie has been serving as the team’s governor ever since. Reports stated she would be the governor of the team for five more years even after the sale to Walter.

The Lakers are in a new era now headlined by Luka Dončić after LeBron James’ eight-year tenure ended earlier this summer. The NBA’s all-time scorer joined the Philadelphia 76ers on a two-year contract.

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The Lakers won 11 of their 17 championships under Buss ownership, with their last in 2020. Walter remains the CEO of Guggenheim Partners and the majority owner of the Los Angeles Dodgers.

Fox Business’ Scott Thompson contributed to this report.