幣圈脈動——市場觀點

Indonesia’s foreign reserves reached US$146.5 billion at the end of August 2026, up from US$145.3 billion at the end of July. The US$1.2 billion increase was equivalent to approximately 0.83% in one month.The additional reserves give Bank Indonesia a larger buffer for managing foreign-currency needs and reducing excessive rupiah volatility. The figure alone, however, is not enough to conclude that the currency will continue to appreciate.Bank Indonesia said the change in August was mainly influe

Indonesia has moved one step closer to introducing a crypto fund-management model under the supervision of the Financial Services Authority. In its July 2026 Board of Commissioners report, OJK stated that PT Dana Kripto Indonesia passed the regulatory sandbox on July 17, 2026 with a Crypto Fund Manager business model.The development could create a new route for investors seeking digital-asset exposure without selecting, storing, and rebalancing every token themselves. Under a managed structure,

The Federal Reserve's interest-rate decision on September 16, 2026 will be one of the month's most important macro events for Bitcoin and the Indonesian rupiah. The issue is broader than whether the Fed raises or holds rates. Its statement, new economic projections, and assessment of inflation could quickly reset expectations for the US dollar, Treasury yields, and global liquidity.The starting point is unusually tense. At its July meeting, the Fed kept the federal funds target range at 3.50% to

The Indonesian government has proposed a tax revenue target of IDR 2,591.4 trillion in the 2027 Draft State Budget. The figure is IDR 280.6 trillion, or 12.1%, higher than the 2026 tax revenue outlook of IDR 2,310.8 trillion.A 12.1% increase in the revenue target does not mean that the tax rates paid by households and businesses will automatically rise by the same percentage. The figure represents growth in the amount the government aims to collect, rather than a direct increase in personal inco

The Indonesian government and the House of Representatives’ Commission XI agreed to use an average exchange-rate assumption of IDR 17,500 per U.S. dollar in the 2027 Draft State Budget, or RAPBN 2027. The figure is approximately 6.06% weaker than the IDR 16,500 assumption used in the 2026 State Budget.IDR 17,500 is not a daily exchange-rate target or a level that Bank Indonesia is required to defend. The government uses the assumption to calculate revenue, expenditure, energy subsidies, debt pay

India is taking another step toward bringing traditional financial markets onto digital infrastructure. The Securities and Exchange Board of India (SEBI) and the Reserve Bank of India (RBI) have launched Demat 2.0, a pilot that uses distributed ledger technology, tokenized corporate bonds and the wholesale digital rupee to test a faster way of issuing and settling debt securities.The move is significant because it brings blockchain-based infrastructure into one of India’s largest financial marke

SpaceX, Elon Musk's rocket company, is creating a striking paradox on the Nasdaq-100: even though it has climbed into the ranks of the index's largest companies by market cap, its actual weighting still lags far behind where it "should" sit. That gap could close fast after the Q3 rebalance, which takes effect in late September.What makes this notable is that the shift could unleash a wave of "forced buying" from passive funds tracking the Nasdaq-100. This demand isn't coming from

For years, crypto and fintech companies in the United States have had to operate within a highly fragmented regulatory system. A company that wants to provide digital-asset services nationwide may need to maintain numerous different licenses across individual states, while traditional banks operate under clearer federal regulatory frameworks.Jack Dorsey’s Block wants to change that structure.On September 8, 2026, Block filed an application with the Office of the Comptroller of the Currency (OCC)

Tether has once again demonstrated that USDT has a characteristic very different from decentralized crypto assets such as Bitcoin: the issuer has the ability to prevent tokens from moving when an address is blacklisted.On September 8, 2026, blockchain analytics platform MistTrack detected approximately 39.27 million USDT across 10 TRON addresses that had been frozen. The total balance at the time of detection was 39,273,713 USDT, with the largest wallet holding approximately 10.78 million USDT.A

Circle Internet Group (NYSE: CRCL), the issuer of USD Coin (USDC), has signed a definitive agreement to acquire Singapore-based cross-border payments infrastructure provider Tazapay in an all-stock transaction valued at approximately $400 million. The acquisition hands Circle direct access to Tazapay’s extensive payment infrastructure, banking relationships, and local payout capabilities across international markets. According to a regulatory filing with the U.S. Securities and Exchange Commissi