Fed Raises Rates to 4%; Nasdaq Invests $100M in Kraken Parent

The Federal Reserve hiked interest rates by 25 basis points amid persistent inflation, while Nasdaq deepened its push into tokenized equities with a $100 million investment in Kraken's parent company.

1. Fed Hikes Rates by 25 Basis Points to Combat Inflation The FOMC voted unanimously to raise the federal funds rate to a 3.75% to 4% target range. The move follows robust August 2026 job growth of 162,000 nonfarm payrolls and a 3.1% year-over-year wage increase, keeping pressure on risk assets like $BTC and $ETH.

2. Nasdaq Invests $100 Million in Kraken Parent Payward Nasdaq Ventures is funding Payward to advance the Nasdaq Equity Token infrastructure, targeting a second-quarter 2027 launch. Payward will also integrate Nasdaq market surveillance technology across its trading venues.

3. Russian Finance Ministry Begins Digital Ruble Salary Payments Ministry employees received optional digital ruble salaries on Oct. 1 via the Bank of Russia platform. The rollout follows the lifting of federal budget spending restrictions on the central bank digital currency in January 2026.

4. Bitcoin Closes Oct. 3 at $84,742 $BTC ended the UTC day up 0.3% after trading in a tight $84,437 to $85,017 range. Exchange withdrawals of $465.5 million slightly outpaced deposits of $438.1 million among large holders.

Numbers Bitcoin trades at $85,316, pushing total market capitalization to $2.86 trillion, while Ethereum sits at $2,703 with gas fees at 0 gwei.

Watch

• The September 2026 Employment Situation report for data on job growth and wage pressures.
• The commercial launch of Nasdaq Equity Tokens scheduled for the first half of 2027.
• Public sector payroll enrollments following Russia's September 2026 retail CBDC rollout.