The dollar-denominated value of outstanding loans from centralized crypto lenders and decentralized lending platforms ballooned to a record high around $74 billion at the end of September, exceeding the previous record of $69 billion set in the fourth quarter of 2021.
Consumer sentiment declined in November, with the index falling from 53.6 to 50.3. The reading is now just slightly above the levels that sentiment sank to amid the historic inflation that hit in 2022 during the Covid-19 pandemic, making it among the lowest results recorded in the survey’s decades of history.
Americans gained more than $63 trillion dollars in wealth from the first quarter of 2020 through the second quarter of 2025. Real-estate wealth rose more than 61% during that span, while wealth from stocks and mutual funds went up 127%.
The top 10% of earners accounted for 49.2% of national spending in the second quarter of 2025, a record high, with their spending up 4.4% year-over-year.
JPMorgan Chase said that it tokenized a private-equity fund on its blockchain platform, an offering that is available to the wealthy clients served by its private bank. The move comes ahead of JPMorgan’s broader rollout next year of its fund tokenization platform, Kinexys Fund Flow. Tokenization lets the bank offer clients a digital representation of the ownership of an asset that lives on a blockchain ledger.
After plowing billions into leveraged single-stock funds in 2024, some investors have soured on them in recent months. Traders pulled almost $5 billion from the fund category over the past two quarters, the first time the fund category has ever reported outflows.
The number of small business sale transactions grew in the third quarter of 2025, reaching 2,599 closed deals — an 8% increase over the same quarter in 2024 and up 11% over the second quarter in 2025. The overall value of completed deals in the third quarter of 2025 hit $2.13 billion, a 5% gain over the same time last year and a 12% gain over the second quarter of 2025.