The US Treasury may use the Treasury General Account, or TGA, which holds nearly $1 trillion, to help finance its recently expanded government bond repurchase program, CNBC reported, citing two senior Treasury officials. The move would give the department greater ability to influence longer-term bond yields. Last week, the Treasury unexpectedly said it would raise buybacks of long-dated off-the-run securities from $2 billion to at least $4 billion. Treasury Secretary Bessent said the size of those operations could exceed that new minimum, though the department did not explain at the time how the purchases would be funded. Before this report, most market participants had expected the Treasury to raise money by increasing issuance of short-term Treasury bills. If the department instead draws on the TGA, that could alter how the market views the plan. The TGA is effectively the US government’s checking account at the Federal Reserve, and the funds in it come from existing tax revenue.

On Aug. 18, the U.S. 30-year Treasury yield hit 5.337%, its highest level since 2007. The next day, the Treasury said it would expand long-dated bond buybacks, while the White House held a closed-door meeting with crypto executives on the CLARITY Act, a potential Bitcoin strategic reserve, and Hyperliquid’s U.S. compliance path. BTC, gold, and crypto stocks all moved higher. According to the article, the sequence links a jump in long-term borrowing costs to Treasury intervention and then to a broader policy opening for digital assets. It says the Treasury will keep the buyback operation running through Nov. 4, while the CLARITY Act still faces procedural and legislative hurdles before becoming law.

U.S. long-end Treasury yields surged this week, with the 30-year yield briefly reaching about 5.34%, its highest level since 2007, before easing after Treasury Secretary Bessent announced a larger buyback program for some 10- to 30-year Treasuries. Under the change, the cap for certain individual long-dated buybacks will rise from $2 billion to at least $4 billion between Sept. 9 and Nov. 4. According to Trader Joe’s piece "Beware the Bond," the market move cannot be explained by inflation alone. The argument is that persistent fiscal deficits are still generating more Treasury supply, traditional long-duration buyers such as Japan may not absorb that supply as steadily as before, and AI-related capital spending is creating a wave of competing long-dated credit issuance. In that setting, the more important question is not the size of the buyback itself, but whether the Treasury is starting to respond more directly when long-end yields rise too far or too fast. The article compares the shift to a Treasury version of Operation Twist, while also noting a key distinction: the current buyback program is officially framed as a secondary-market liquidity and cash-management tool, not an explicit attempt to force long-term yields lower.

ARK Invest analyst Lorenzo said Hyperliquid has reached a new point in its market mix, with real-world asset trading on HIP-3 exceeding crypto-native volume for the first time in a single week. According to the figures cited in the post, RWA accounted for 54% of total platform volume, and 61% of that RWA activity came from single-stock products. The article argues this shift points to a broader change in Hyperliquid’s positioning, from a crypto perpetuals venue to a round-the-clock multi-asset derivatives platform spanning equities, indices, commodities and FX. The write-up also stresses that the RWA products in question are synthetic perpetual contracts rather than tokenized securities. Traders get price exposure, typically margined in USDC, but do not receive actual stock ownership, voting rights or legal claims on the underlying assets. It distinguishes that model from true securities tokenization and notes the two paths carry different infrastructure, legal and operational requirements. At the same time, the piece flags a math issue in the original comparison between Hyperliquid’s HIP-3 RWA volume and the rest of the DEX perpetuals market, and says the claim cannot be directly derived from the numbers presented. It further examines what the trend could mean for HYPE, USDC and Circle, while outlining the current HIP-3 market map, where activity is concentrated in stocks, commodities and indices, with much of the volume attributed to the trade[XYZ] deployment.

Raoul Pal argues the recent crypto slide was driven by shrinking dollar liquidity, not a collapse in crypto fundamentals. He points to gold absorbing marginal flows, a depleted RRP buffer, and TGA rebuilding, while staying strongly bullish on 2026.

XinGPT cut daily work from 6 hours to 2 with an AI Agent system, boosting output 300%. The agent warned 48 hours before the Feb 2026 crash and built a Bitcoin bottom-fishing model.

Analyst Thompson warns of a 20-25% liquidity contraction ahead, as Bitcoin fell 50% from its $126K peak to $63K. Now hovering near $75.6K, the market faces geopolitical and policy uncertainty, with no sustained rally in sight.

Hilbert Group CIO Russell Thompson said global liquidity could contract by 20% to 25%, creating near-term downside pressure for Bitcoin, while policy action and shifting liquidity conditions may improve the medium-term outlook.