Economy
A tweet from President Trump on tariffs and export controls reportedly sparked the largest crypto liquidation event on record, wiping out $20 billion in positions—mostly long positions—as Bitcoin dropped from $126,000 to $105,000 before a partial recovery; altcoins like ATOM and SUI fell over 75%, impacting 1.6 million traders and prompting calls for regulatory review of exchange practices. Signs of market resilience emerged with Bitcoin’s partial rebound and continued inflows into spot ETFs, indicating potential long-term institutional demand.
Meanwhile, the UK Financial Conduct Authority has lifted its ban on crypto exchange-traded notes for retail investors, permitting access via approved exchanges and pointing to the market’s development into mainstream products with improved safeguards. Crypto ETNs, which offer exposure through debt instruments backed by regulated custodians, will become eligible for tax-efficient pension schemes from October and individual savings accounts from April 2026. Consumer protection groups have raised concerns about potential volatility and the need for enhanced investor education to address risks.
Relatedly, Luxembourg’s sovereign wealth fund has allocated 1% of its portfolio—over €7 million—to Bitcoin ETFs, reportedly the first such investment by a Eurozone public fund, as part of efforts to establish the country as a digital assets hub under EU regulations. Surveys indicate that institutions plan to raise digital asset exposure from 7% to 16% of portfolios by 2028, citing benefits of tokenization such as transparency and faster settlements; 60% reportedly intend increases in the next year, with 40% of firms establishing dedicated crypto units. Critics, including some financial experts, have questioned the volatility risks of such allocations for public funds.
Lastly, Bitcoin advocate Roger Ver has reportedly reached a tentative $48 million tax settlement with US authorities, which could allow him to avoid prison on charges of tax evasion related to unreported crypto gains following his renunciation of US citizenship. Skepticism persists regarding the deal’s finalization, given ongoing extradition challenges and the absence of public docket confirmation.
More broadly, wealth inequality in the US has reached a point where the top 10% of households reportedly control 68% of net worth, totaling $113 trillion, while the bottom 50% holds 2.5%, or $4 trillion, according to data from economic analyses. Reports attribute this disparity in part to a declining share of wages in the economy over the past 50 years, alongside rising debt and asset bubbles that have disproportionately benefited asset owners. Data indicates that 41.7 million workers earn under $12 an hour, with median full-time wages at $62,000 annually; analysts note that many households are reportedly facing high debt levels, where income primarily covers essentials and debt servicing. However, some economic indicators, including recent stock market gains and consumer spending, suggest resilience that could mitigate broader downturns for middle-income groups.
Analysts have suggested that conventional recession remedies, such as tax cuts and lower interest rates, may provide limited relief to the bottom 90% of earners, citing existing tax structures that place a disproportionate burden on higher-income groups and waning global deflationary pressures that constrain rate cuts. A recent market downturn, reportedly triggered by speculative trading and concentrated positions, led to sharp declines in high-growth sectors and leveraged ETFs, with retail trading in volatile meme stocks contributing to the selloff. Defensive assets rose as yields fell, underscoring reported fragility from leverage and overconfidence in equities. Federal Reserve officials have expressed confidence in the economy’s ability to weather volatility through targeted tools, potentially preventing a severe recession.
Health
A Research Co. survey of 1,003 Canadian adults found that 72% support mandatory childhood vaccinations, an increase of 5 percentage points from last year but below the 88% level recorded pre-pandemic in 2018. Support for parental choice in vaccinations declined to 23%, down 6 points, while over a third of respondents—42% among men—continue to believe that the MMR vaccine is linked to autism. British Columbia officials are notifying residents to schedule influenza and COVID-19 vaccinations starting October 7 for individuals six months and older. Advocacy groups for parental rights have voiced opposition, arguing that mandates infringe on personal freedoms despite public health benefits.
Meanwhile, White House physician Dr. Sean Barbabella reported that President Trump received an updated COVID-19 mRNA booster and influenza vaccination during an evaluation at Walter Reed National Military Medical Center, in preparation for international travel. The physician’s memo described the president’s health as exceptional, noting a cardiac age 14 years below his chronological age and stable readings across metabolic, hematologic, and cardiovascular systems. No visual confirmation of the injections was provided. The White House has confirmed the vaccinations align with routine health protocols, amid broader endorsements of mRNA vaccine safety from health authorities.
US Politics
Defense Secretary Pete Hegseth announced an agreement permitting the Qatari Emiri Air Force to construct a facility at Mountain Home Air Force Base in Idaho, which will host F-15 jets and pilots for joint training and interoperability exercises. The arrangement represents the first permanent foreign military installation on US soil, distinct from previous joint programs, and follows an executive order linking Qatar’s security to US interests. Hegseth cited Qatar’s contributions at the Al Udeid Air Base and its role in Gaza-related communications during the Pentagon signing ceremony with Qatari Defense Minister Sheikh Saoud bin Abdulrahman Al Thani. Local critics, including some state officials, have raised concerns about national sovereignty and the implications of a foreign presence on US soil.
The Supreme Court has overturned precedents dating back 90 years, reinstating the president’s authority to remove heads of independent federal agencies without cause and thereby increasing executive oversight of entities such as the Federal Trade Commission and Securities and Exchange Commission. The ruling arose from legal challenges to removal protections established since 1935 and would allow President Trump to dismiss commissioners not aligned with administration policies. Legal experts have warned that the decision could undermine agency independence and lead to increased political interference in regulatory functions.
Sources
For Many, This Recession Will Feel Like a Depression
Those with the thinnest buffers may well experience the recession as a Depression.
Source | Submitted by Rodster
Canadian Poll Shows Rising Support for Mandatory Childhood Vaccinations, But Pre-Pandemic Levels Elude
“While support for mandatory childhood vaccinations increased to 72 per cent in 2025, it is still nowhere near the levels observed prior to the COVID-19 pandemic,”
Source | Submitted by Barry Silverthorn
UK Lifts Crypto ETN Ban, Signaling Industry Maturity
“Since we restricted retail access to crypto ETNs, the market has evolved, and products have become more mainstream and better understood.”
Luxembourg’s Sovereign Wealth Fund Bets on Bitcoin: First Eurozone Allocation to Crypto ETFs
The move positions Luxembourg as the first Eurozone nation to allocate sovereign wealth into Bitcoin exchange-traded funds
‘Bitcoin Jesus’ Roger Ver Nears $48M Tax Deal with DOJ to Avoid Prison
Ver’s lawyers reached a tentative agreement with US authorities that would require the Bitcoin advocate to pay $48 million in taxes he owed from his crypto holdings.
Institutions Set to Double Crypto Exposure to 16% by 2028, State Street Survey Shows
average portfolio exposure expected to double from 7% to 16% within three years
Market Crack: Prelude to a Bigger Bust?
This wasn’t a crash but a market crack that happens when everyone is on the same side of the boat.
Trump’s Tariff Tweet Ignites Crypto’s Largest Liquidation Event Ever
“the largest liquidation event in crypto history.”
America First? Qatar to Build Historic Foreign Military Base in Idaho Heartland
Defense Secretary Pete Hegseth on Friday announced a finalized agreement that will allow the Qatari Emiri Air Force to build a facility at the Mountain Home Air Force Base in Idaho
Trump’s Reported COVID Booster and Flu Shot: Health Glow-Up or Pfizer Ploy?
Whether this “receipt” was literal or ceremonial remains unclear — but it appears to be a coordinated marketing stunt
Supreme Court Restores Trump’s Removal Power Over Federal Agencies After 90 Years
The Supreme Court just restored Trump’s constitutional power to remove rogue commissioners from federal agencies.
In addition to sources submitted by community members, the following were also used in the creation of this report: The Wall Street Journal, Federal Reserve, Financial Times, Bloomberg, CoinDesk, Rebel News, CNN, Fox News, and The New York Times.
by pnwdefector 
