Ethereum News Today: SNAP Benefits to Pause as Political Deadlock Threatens Food Security

In a week marked by significant developments across government operations, mining, and cryptocurrency markets, the U.S. Department of Agriculture announced the impending suspension of Supplemental Nutrition Assistance Program (SNAP) benefits, Perseus Mining reported robust financial results, and Ethereum saw a price rebound amid geopolitical optimism. Here's a summary of these key events.

The U.S. Department of Agriculture (USDA) on Saturday posted a statement attributing the upcoming halt of SNAP benefits to Democratic policies, with assistance set to pause starting Nov. 1 due to a government shutdown, according to an NBC News report. The agency's message emphasized political accountability, as lawmakers remain at an impasse over budget negotiations. Over 40 million Americans rely on SNAP, and the disruption has raised concerns about food insecurity, particularly in low-income communities. The USDA's announcement underscores the growing political tensions surrounding federal funding and social programs.

Meanwhile, Perseus Mining Limited delivered a strong financial performance in its September 2025 quarter, according to Perseus Mining's September report. The Australian gold mining company reported a cash and bullion balance of US$837 million, driven by gold production of 99,953 ounces and an average cash margin of US$1,612 per ounce. The report also highlighted operational efficiency, with a 12-month rolling average TRIFR (Total Recordable Injury Frequency Rate) of 0.60, significantly below industry standards. Leadership changes included the retirement of CEO Jeff Quartermaine and the appointment of Craig Jones, signaling a strategic shift as the company advances projects like the Nyanzaga gold mine, with first production expected in early 2027.

In cryptocurrency markets, Ethereum (ETH) reclaimed the $4,000 level on Oct. 26, buoyed by optimism around U.S. President Donald Trump's Asia visit and anticipated trade talks with Chinese President Xi Jinping, according to a Yahoo Finance analysis. The price rebound followed a seven-day low of $3,811 and was further supported by geopolitical developments, including a peace treaty signing between Cambodia and Thailand. Ethereum treasury firms, including Tom Lee's Bitmine, also outpaced Bitcoin in supply dominance, holding 3.2 million ETH (0.40% of total supply) compared to Bitcoin's 0.36%. Analysts attribute this shift to Ethereum's energy-efficient Proof-of-Stake transition and regulatory clarity in 2025, which has attracted institutional investors seeking yield-driven assets.