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The Federal Reserve Board on Wednesday withdrew its 2023 policy statement and issued a new policy statement to promote responsible innovation by regulated banks. Vice Chair for Supervision Michelle W. Bowman stated that the Federal Reserve Board is ensuring the safety of the banking industry by creating pathways for innovative products. The new policy statement creates avenues for both insured and uninsured state member banks regulated by the Federal Reserve Board to participate in certain innovative activities.

Jinse Finance reported that State Street Group stated that the main reason for the decline of the US dollar earlier this year was that US investors reduced foreign exchange hedging for overseas investments, rather than global investors increasing their hedging ratios for US investment portfolios. "The more significant activity comes from US domestic investors adjusting their overseas hedging ratios," said Chris Pizzotti, Global Head of FX Sales and Trading at State Street Markets, at the Federal Reserve Bank of New York's FX Market Structure Conference on Wednesday. "We estimate that US domestic investors have halved their hedging ratios, which has actually contributed to the weakening of the US dollar. The uncertainty brought by Liberation Day still exists, and naturally, it has also sparked discussions about de-risking."

Futures trading volume in 2025 reached a historic high, driven by on-chain activity led by Hyperliquid, while CEXs still maintain market dominance.