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Money

Crypto PACs escalate spending against Sherrod Brown in Ohio Senate race

Affiliates of the Fairshake political action committee (PAC), largely funded by Coinbase and Ripple Labs, have increased their initially announced expenditures by more than 50% in what could be a key race for control of Congress in 2026. According to Thursday filings with the Federal Election Commission (FEC), the Fairshake affiliate Defend American Jobs — a group that supports Republican candidates in primaries and elections — spent $46.6 million on media opposing former lawmaker Sherrod Brown and supporting Republican incumbent Jon Husted in Ohio’s Senate race for the 2026 midterms. The spending marked a sharp increase over what Fairshake said in September it initially planned to spend opposing Brown’s return to the Senate: $30 million. “I’ve spent my career taking on Wall Street, taking on big pharma, taking on big oil and been successful in many cases,” said Brown in an interview aired Friday on Pod Save America, addressing the attack ads funded by the crypto industry, adding:“Jon Husted is their boy [...]

Cointelegraph·
Money

Stablecoin remittances cost 84% less than traditional transfers, report finds

Stablecoin-funded remittances continue to offer substantial cost savings over traditional money transfers, particularly in emerging markets, reinforcing one of the leading use cases for digital dollars as payment activity grows. According to a new third-quarter report from Borderless.xyz, a stablecoin payments network, sending a $200 remittance through stablecoin-funded payment rails costs a median of 1%, or $2, compared with 6.36%, or $12.72, for traditional remittances, based on World Bank data. The difference makes stablecoin-funded remittances roughly 84% cheaper, although the comparison uses Borderless’s third-quarter 2026 pricing and World Bank figures from the same period in 2025. The savings are also substantial across emerging markets. In Sub-Saharan Africa, stablecoin-funded remittances cost 2.9%, compared with 8.46% for traditional transfers. In Latin America, the costs are 1.25% and 5.64%, respectively. Business payments made through stablecoins are also significantly cheaper, according to the report.

Cointelegraph·
Money

Crypto Biz: Wall Street closes at 4. Tokenized stocks keep trading

Tokenization is beginning to reshape traditional financial markets, with stocks increasingly in focus. Much of the attention has centered on the $3.3 billion in tokenized equities now onchain, according to RWA.xyz, but one of the biggest innovations may be what happens before Wall Street opens and after it closes. According to the latest industry data, more than 70% of tokenized stock trading volume on BNB Chain now occurs outside regular US market hours, with similar patterns emerging on Solana and Base. Tokenized equities allow investors to trade US stocks across time zones without waiting for Wall Street’s opening bell, potentially changing how liquidity is distributed throughout the day. However, many platforms driving this activity remain off-limits to American investors, even as US regulators begin to make room for tokenized stock trading. This week’s Crypto Biz looks at tokenized stock trading, the economics of Bitcoin mining, proposed accounting rules that could make it easier for companies to treat stablecoins as cash equivalents, and Strive’s expanding Bitcoin treasury.

Cointelegraph·
Money

Bitcoin price steadies around $82K after Fed’s Warsh avoids rate-hike hints

Bitcoin (BTC) traded near $82,000 around Friday’s Wall Street open as crypto markets stabilized alongside a rebound in South Korean stocks. Key points:Bitcoin price volatility eased as South Korean stocks rebounded 2% on Friday, offering relief after a steep sell-off. Federal Reserve Chair Kevin Warsh gave no indication of further interest-rate hikes during a public discussion, as traders lowered the odds of a 25-basis-point increase in October to 15%. Analysts warned of difficult choices for Washington as the 10-year US Treasury yield climbed back to 5.13% and US stocks traded in a narrow range. Traders see dovish edge to Warsh commentsData from TradingView showed BTC/USD holding most of its reclaimed ground after bouncing at $80,000 on Thursday. BTC/USD four-hour chart. Source: Cointelegraph/TradingViewThe earlier decline followed a weeklong sell-off in South Korean tech stocks, although Friday’s Asian trading session brought some relief. The KOSPI Composite Index closed at 5,668, up 2% on the day but still down 8.3% for the week. KOSPI Composite Index one-day chart.

Cointelegraph·