Crypto World
China hits back at G20 pressure over exports and trade imbalances
A Chinese flag flutters on top of the Great Hall of the People ahead of the opening ceremony of the Belt and Road Forum (BRF), to mark 10th anniversary of the Belt and Road Initiative, in Beijing, China October 18, 2023.
Edgar Su | Reuters
BEIJING — China has accused other G20 nations of “promoting protectionism,” after they criticized economies that rely heavily on exports.
U.S. Treasury Secretary Scott Bessent on Tuesday said 19 of the G20 members agreed to address the “unsustainable equilibrium” resulting from a “stream of cheap exports.” China was the only G20 member to dissent from a joint statement over references to such “imbalances.”
The Commerce Ministry on Thursday pushed back on trade complaints from the U.S. and Europe, calling them “an excuse to pressure and restrict China.”
“China believes that taking advantage of the G20 and other multilateral mechanisms to hype up so-called ‘economic imbalances’ and ‘overcapacity’ is essentially promoting protectionism,” Ling Huang, Commerce Ministry spokesperson, said in Chinese, translated by CNBC.
“China is firmly opposed,” she said during a weekly press conference. “This will only disrupt the global economic and trade order, and harm the healthy development of the global economy.”
The words come amid a flurry of different multilateral meetings and growing anticipation for Chinese President Xi Jinping’s trip to Washington, D.C. later this month.
When asked by CNBC about the latest U.S. anti-Iran sanctions, which can extend beyond Iranian entities to foreign companies or individuals accused of helping Iran, Huang said the U.S. should “immediately correct its wrong practices and lift sanctions against relevant Chinese companies and citizens.”
“Despite repeated requests from China, the U.S. has used Iran as an excuse for repeatedly imposing sanctions on Chinese companies and citizens, to which China is strongly dissatisfied and firmly opposes,” she said.
Early last week, Bessent announced that any entity, including Chinese banks, that facilitates money laundering or sanctions evasion on behalf of Iran could be cut off from the U.S. financial system.
Huang on Thursday also urged France to halt implementation of a new law aimed at curbing the low prices charged by Chinese e-commerce companies such as Temu.
“If France persists in its course of action, China will take necessary measures to safeguard the legitimate rights and interests of Chinese enterprises, and France will bear all consequences,” she said.
China and the European Union more broadly have also been engaged in trade talks this summer as Europe wants to reduce its record trade deficit with China by October. EU Trade Commissioner Maroš Šefčovič warned in an interview with Euronews this week that Beijing must deliver “concrete results” by October or face “harsher measures.”
Huang said China is willing to work with the EU, but said demands should not be made unilaterally, and threats should not be made to close markets.
Crypto World
Australia is cracking down on crypto businesses as its strict new regulatory deadline nears
Firms that miss the deadline could breach financial services law from Oct. 1 and face civil or criminal penalties.
Standard Chartered will now hand institutional clients real Bitcoin (BTC) and Ether (ETH) in the United Arab Emirates. Those clients receive the coins themselves, not a derivative that only tracks the price.
The bank announced the desk on Thursday through its Dubai arm. Only 29 lenders worldwide carry the too big to fail label. Just one of them now delivers coins.
Standard Chartered’s Bitcoin Desk Sits Inside a Too Big to Fail Bank
The Financial Stability Board names those 29 banks every year. Its 2025 list puts Standard Chartered in the lowest risk bucket, carrying a 1% capital surcharge.
JPMorgan sits three tiers above it. Citigroup and HSBC sit two. Standard Chartered says no rival G-SIB offers the same deliverable spot service.
The smallest of the systemic banks moved first, not the biggest. Deliverable may be the key word here, seeing as the client ends up holding Bitcoin. This means someone at the bank must move real coins and guard them.
The appeal is the fee stream. The bank earns on the spread, the settlement and the custody, rather than losing that revenue to crypto exchanges.
Why Dubai Got This Before New York
Standard Chartered built the Dubai stack in pieces. Custody came first, in September 2024, with hedge fund Brevan Howard Digital as its opening client.
Spot trading followed in London in July 2025. The bank then added USDC minting there in July 2026. Execution was the last gap.
Every step cleared the Dubai Financial Services Authority. All four launches happened in Dubai or London, never in the United States.
Rivals, meanwhile, are behind. Citi is still readying bitcoin custody, a service Standard Chartered has run for two years.
Banks are not chasing a rally. They are building while the price is low, for clients rich enough to qualify. Retail is nowhere on that list.
The post A ‘Too Big to Fail' Bank Is Now Delivering Actual Bitcoin and Ethereum to Institutions appeared first on BeInCrypto.
Kraken is joining SoFi’s settlement network and list SoFiUSD as the companies link traditional banking with crypto markets.
Futures for the Dow Jones Industrial Average and the other major stock indexes traded mixed Thursday, as Treasury yields cooled off from recent gains. Meanwhile, artificial intelligence stock Broadcom (AVGO) sold off on the stock market today after the company’s earnings report while Snowflake (SNOW) rocketed higher. Ahead of Thursday’s open, Dow futures rose 0.2%, while S&P 500 futures hovered…
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For investors seeking a high-yield real estate investment trust that can hold up even if the economy weakens, UMH Properties (UMH) looks like a strong candidate — and the stock is currently in a buy zone. Headquartered in Freehold, N.J., UMH is a REIT specializing in manufactured home communities. The company owns a portfolio of 145 communities with more than…
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Student loan real-world asset (RWA) protocol Pencil Finance completed a $1 million onchain student loan cycle, offering financing to thousands of students in Southeast Asia who were underserved by traditional lenders.
Pencil said it completed its first fully onchain student loan cycle on the blockchain, where the platform deployed $1 million in capital as a lender that was repaid by borrowers to the bundle’s funders with yield, the company revealed in a Thursday announcement shared with Cointelegraph.
The bundle was funded in July 2025 by Animoca Brands, Open Campus and New Campus, structured as a senior tranche with fixed returns and a junior tranche with variable returns and first-loss risk.
The $1 million onchain loan cycle offered financing to about 6,600 students across 118 schools and universities in Southeast Asia. Pencil Finance claims this is the first-ever fully onchain lending cycle financing student loans transparently recorded on the blockchain network.
Of the 6,600 students, about 1,050 received direct funding. Pencil said the loans were designed for students underserved by traditional lenders, with 50% female borrowers and 93% stemming from lower-income households.
Tokenized RWAs are increasingly being used to issue or collateralize loans.
In July, Brazil’s B3 stock exchange issued a 100,000 Brazilian reais ($19,600) loan secured by 10 tokenized cows as collateral, where each cow received a unique digital token linked to an encrypted digital identity, while AI-powered smart collars from agriculture tech company Cowmed monitored each animal’s health.
Related: Standard Chartered launches spot Bitcoin and Ether trading in UAE
Yen’s rise has led to a broad-based USD weakness, driving the Dollar Index lower. BTC and gold are loving it, for now.
Jim Cramer expects a huge move in Snowflake stock after a blowout quarter. Broadcom earned a far more cautious verdict.
The CNBC host weighed in after both companies reported. Snowflake and Broadcom both cleared estimates, yet only one drew unqualified praise in the artificial intelligence (AI) trade.
Jim Cramer Snowflake Verdict Follows a Blowout Quarter
Snowflake reported product revenue of $1.49 billion for its fiscal second quarter, up 37% from a year earlier. Adjusted earnings hit $0.62 per share.
Management lifted full-year product revenue guidance to $6.07 billion. Shares jumped 23.27% to $377.00 in pre-market trading from Wednesday’s $305.84 close.
The stock had slid 7.4% over the five sessions into the report.
Cramer flagged the valuation in the same breath as the beat. He called it the cleanest way for hesitant enterprises to buy compute on demand.
His enthusiasm marks a shift. Last week, he praised Marvell’s quarter yet warned that its price had already run too far.
Broadcom Triples AI Revenue Yet Wall Street Hesitates
Broadcom delivered $16.7 billion in AI semiconductor revenue, a 221% jump. Total revenue rose 86% to $29.6 billion, and adjusted earnings reached $3.32 per share.
Chief Executive Hock Tan guided fourth-quarter AI sales to $21.7 billion. He has secured a supply to roughly double AI revenue to about $115 billion in fiscal 2027.
Tan flagged a path toward $230 billion in fiscal 2028. Investors still balked.
Cramer welcomed the raises, then hedged.
Hock giving you some nice raises for next year and the year after. That’s what we have been looking for. Maybe i am too hopeful… Small position for the trust…
Jim Cramer, post
The trust is his CNBC Investing Club portfolio.
Total fourth-quarter guidance of $34.8 billion landed just under consensus. The stock slipped 2.58% to $357.76 in pre-market trading, extending a 4.5% monthly decline.
Analyst forecasts before earnings were already skewed heavily bullish, leaving little room for surprise.
AMD’s post-earnings selloff in August showed how fast strong chip numbers can disappoint.
Cramer’s split verdict leaves one clear test. Snowflake has to turn AI demand into margin, while Broadcom has to prove Tan’s 2028 math.
The post Jim Cramer's Says This Stock Is Primed for a “Huge Move” appeared first on BeInCrypto.
Your day-ahead look for Sept. 3, 2026
“The memories are so vivid,” says Lomonaco, who helped start a fund for the families of his staff and who has gone on to run several successful restaurants in the city. “A generation has grown up since then, but it still seems like yesterday to me.”
A 25th anniversary marks a swath of time that can be illuminating because, to someone who is younger than 30, it feels like an eternity. Or a lifetime, which to someone who actually is 25, it is. But to someone who is over 50, as I am, it feels like a chapter. A long one, perhaps. But, still, a part of something else.
9/11 is a hinge of time that separates generations. It shouldn’t be surprising—but it always is—when I ask young folks about 9/11, and they just can’t get their hearts around it. It’s something that they learned about in class or saw on YouTube. They don’t feel it like I do. Like we do.
Those of us who are moved by this anniversary—no matter how close we were to the actual tragedy—should find some way to talk about it. “We have an obligation,” Lomonaco says. “When we talk about the people who died, we’re acknowledging the significance of their lives.”
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