nomic

Capital Economics believes that the sell-off of U.S. Treasuries is mainly due to changes in market expectations for interest rates in the near term. Economist James Reilly pointed out that the 10-year U.S. Treasury yield is close to its 2007 peak, reflecting rising oil prices and a strong U.S. economy, rather than being driven by AI bond issuance or fiscal concerns. Reilly expects the 10-year U.S. Treasury yield to fall to 4.25% by the end of 2027.

The Oxford Economic Research Institute stated that its U.S. business cycle indicator has fallen into recession territory, as rising energy prices squeeze household incomes and a slowdown in immigration weakens job growth.However, factors such as productivity growth, wealth effects, and AI investment continue to support the economy, showing no typical signs of recession.

B.AI announced that the total number of registered users has reached 2,800,056, surpassing 2.8 million, with the increase from 2.7 million to over 2.8 million taking only a few days.Behind the growth, the platform processes trillions of Tokens daily and automatically matches models with costs through intelligent routing, making top-tier intelligence a scalable infrastructure. B.AI lowers the usage threshold through one-stop model aggregation and frictionless settlement, promoting AI Agents to transition from chatting to paid services, collaboration, and value creation, upgrading to digital citizens with economic sovereignty. The user growth is also seen as a signal for more intelligent agents moving towards autonomous operation, further solidifying the foundation of the AGI economy.

According to a report by The Wall Street Journal, the construction of artificial intelligence is becoming the largest economic bet in American history, surpassing investments in railroads, highway systems, and internet infrastructure. The report states that spending on data centers has exceeded the combined expenditures on canals, railroads, and power grid construction, and this related construction is driving inflation while creating jobs and wealth.Economist Stijn van Nieuwerburgh, in estimates published by the Brookings Institution, shows that total investment in data centers and related artificial intelligence infrastructure is expected to reach $10.3 trillion from 2025 to 2032, averaging about 3.6% of GDP annually. The report states that the U.S. economy has never been so dependent on the construction of a single industry. Goldman Sachs estimates that by 2026, U.S. investment in artificial intelligence will reach 1.9% of GDP; the last time a single new industry accounted for a larger share of the economy was during the railroad boom in the late 19th century.The estimates list the average annual infrastructure spending as a percentage of GDP as follows: canals from 1836 to 1841 at 0.66%, railroads from 1870 to 1890 at 2.24%, electrification from 1905 to 1925 at 0.5%, highways from 1956 to 1973 at 1.13%, telecommunications and fiber optics from 1996 to 2003 at 1.1%, and artificial intelligence from 2025 to 2032 at 3.63%. The report also states that this investment is transforming various sectors of the economy, creating hundreds of thousands of jobs and producing new billionaires, while also carrying significant risks, as a large portion of it is supported by debt.

The International Monetary Fund stated that the Middle East war, which began at the end of February, has significantly altered the trajectory of global economic growth through disruptions in energy, commodities, and supply chains.

According to The Block, based on the seventh annual Geographies report by blockchain analysis company Chainalysis, during the 12 months ending June 30, 2026, the scale of global cryptocurrency economic activity shrank by only 1.6%, from $9.5 trillion to $9.4 trillion. During the same period, the total market capitalization of the cryptocurrency market fell by about 50%, shrinking by $2.1 trillion, marking the most severe cryptocurrency bear market since 2022. The report states that the decline in economic activity is much smaller than the decline in market capitalization.Capital flows showed divergence. Funds flowing into exchanges, DeFi protocols, and other cryptocurrency services decreased by 4.3% to $8.9 trillion; domestic P2P transfers surged by 302.9% to $228.7 billion; cross-border stablecoin flows grew by 77.5%, rising from $124.2 billion to $220.3 billion. Chainalysis noted that its cross-border statistics are somewhat conservative, as they exclude transfers where the sending and receiving countries cannot be confirmed, and pointed out that this growth comes from payments averaging about $3,000, which are far from institutional levels and more aligned with everyday use cases such as personal payments to vendors, cross-border remittances, or transferring savings.Stablecoins demonstrated better value retention during the market capitalization decline compared to other cryptocurrency assets, with global on-chain balances dropping from $860 billion in September 2025 to $440 billion in June 2026, while stablecoin balances remained between $98 billion and $109 billion during this period.

Capital Economics stated that if the United States implements a diesel export ban, customers in Latin America and Europe will be the first to be affected, and global prices will also be impacted. Chief Commodities Economist David Oxley mentioned that the reduction in U.S. diesel flows will weaken a key supplemental source in the global market. Capital Economics estimates that a comprehensive ban could reduce global marine diesel supply by 30%.

On September 22, the Australian Treasury released the latest edition of the Intergenerational Report, which outlines a 40-year economic outlook and lists artificial intelligence as one of the five major transformations that will profoundly impact the economy in the future, but the report does not mention cryptocurrencies. The report states that AI systems have become "significantly" more autonomous, powerful, and widely applied, with some benchmark performances surpassing human levels. The other four transformations are geopolitical conflicts, an aging population, the transition to clean energy, and Australia's industrial shift towards the service sector.John O'Loghlen, National Director of Coinbase Australia, commented in an email that the report clearly indicates that Australia's prosperity over the next 40 years will largely depend on the ability to adopt new technologies and enhance productivity, but while the report focuses on artificial intelligence, it completely overlooks the financial infrastructure required for these agents. Previous Intergenerational Reports also did not address digital assets. Despite these omissions, the Reserve Bank of Australia has increased its focus on tokenized finance and upgrading financial infrastructure earlier this year, with the Digital Finance Cooperative Research Centre estimating that digital financial innovation could bring an economic benefit of AUD 24 billion (approximately USD 17.1 billion) annually.The Treasury also released a separate report on September 3 titled Financial Innovation Strategy, which discusses the connection between AI and financial infrastructure, stating that agent systems may increase automation and machine-to-machine trading, thereby creating greater demand for real-time, interoperable, and programmable payment systems.

On the morning of September 20, local time, the economic and trade teams of China and the United States began economic and trade consultations in New York, USA.

B.AI platform announces that the total number of registered users has officially surpassed 2,700,048, growing from 2.6 million to over 2.7 million, with strong growth momentum continuing.This growth is attributed to B.AI's ongoing optimization of model supply and pricing mechanisms, with multiple discounts and usage rights continuously reducing the cost of AI usage, making cutting-edge models more accessible; at the same time, the platform continues to expand the boundaries of Agent capabilities, pushing Agents from task execution towards payment, collaboration, and value creation.Each user milestone is a testament to more users and Agents joining the intelligent network and signifies that the AGI economic network is forming more active value connections.

The spokesperson for the Ministry of Commerce stated that, as agreed by both China and the United States, He Lifeng, a member of the Political Bureau of the Central Committee of the Communist Party of China and Vice Premier of the State Council, will lead a delegation to the United States from September 19 to 23 to hold economic and trade consultations with the U.S. side.The two sides will conduct consultations on economic and trade issues of mutual concern, guided by the important consensus reached by the leaders of both countries.

The spokesperson for the Ministry of Commerce, He Yadong, stated that the economic and trade teams of China and the United States are maintaining close communication on the issue of mutual tariff reductions amounting to 30 billion dollars, and relevant progress will be released in due course.

Federal Reserve Chairman Waller stated that he would not disclose details of the Federal Open Market Committee's future interest rate decisions and emphasized that he is not responsible for providing forward guidance.Waller mentioned that today's rate hike decision was made after careful consideration, not driven by the market, but based on an assessment of the current situation, employment trends, and economic strength.

Federal Reserve Chairman Waller stated that potential economic growth is higher, but the issue lies with inflation.

The Federal Reserve FOMC statement indicated that economic activity is expanding at a robust pace.

According to relevant statements, the U.S. Department of the Treasury convened global financial institutions to advance economic isolation actions.

Arc officially announced on the X platform that Economic OS will launch tomorrow, providing a financial foundation for an open agent economy, supporting machines to automatically spend USDC according to rules, and settling on the Arc blockchain. In addition, Arc will hold a mainnet launch live broadcast in New York.The developer warm-up session will start from 11:30 AM to 1:30 PM Eastern Time, which is 11:30 PM Beijing Time; the main stage formal session will be from 2:00 PM to 3:45 PM Eastern Time, which is 2:00 AM Beijing Time.

According to Semafor, the White House Council of Economic Advisers (CEA) will launch an interactive tool on Tuesday that allows users to set parameters and run scenarios to support its previous conclusion that "there is no substantial correlation between the growth of stablecoins and the loss of deposits at community banks."This move aims to garner support from Senate Republicans to advance the CLARITY Act and respond to banking groups, which stated on Monday that the latest modifications to the bill are still insufficient to alleviate their concerns about the stablecoin provisions. Several Republican senators hinted at the possibility of voting against it, while pro-crypto Democrats expressed dissatisfaction that the ethical provisions do not sufficiently constrain Trump. The bill requires at least 60 votes to advance.

Flop Labs officially announced the updated FLOP token economics draft based on community feedback. The project emphasizes that the token has no venture capital shares and no pre-sale; all tokens must be obtained through network contributions.Core data and total supply model: The total supply in the 10th year is expected to reach 18.1 billion tokens. The long-term inflation rate is maintained at 0.5% per year. The halving mechanism adopts a fixed halving cycle, with a permanent tail inflation mechanism retained after halving to continuously incentivize network participants.Token distribution ratio in the 10th year: 8.8 billion tokens for miners (48.6%), the highest distribution share, reflecting the network orientation of Proof of Useful Inference. 4.4 billion tokens for airdrop (24.3%), including 1.2 billion tokens for miners (6.6%), 1.2 billion tokens for validators (6.6%), 1.2 billion tokens for agents (6.6%), and 800 million tokens for reserves/incentives (4.4%). 2 billion tokens for the team and foundation (10.8%). 1.2 billion tokens for validators (6.5%). 1.2 billion tokens for brokers/agents (6.5%). 600 million tokens for staking rewards (3.2%).