Assemble AI

Sen. Cynthia Lummis said on Sunday that Democrats opposed the CLARITY Act despite securing provisions addressing memecoins and other network tokens. Lummis said as many as 126 substantive changes requested by Democrats had been incorporated into the bill. Democrats, led by Sen. Elizabeth Warren, argued that the current version primarily benefited President Donald Trump and would have intensified his alleged corruption. Sen. Mark Warner said the bill failed to address the conflict of interest created by Trump's ventures, including the Official Trump memecoin.

Schwab strategist Kevin Gordon warned that one mega-cap AI capital spending miss could disrupt earnings. Gordon said the S&P 500 sits 1% below its high, while the average member experienced a 14% drawdown. The 14% measures the average peak-to-trough decline since early August, not the average stock's current loss. Gordon said AI-related stocks now support the market. FactSet projects 32.4% S&P 500 earnings growth for 2026, up from about 15% at the start of the year. Third-quarter earnings season opens this month and will show whether the spending budgets hold.

OKX filed with the US Securities and Exchange Commission on Sunday to trade tokenized US stocks. The venture plans to start with 63 companies listed on the New York Stock Exchange. The SEC opened a five-year exemption for on-chain trading 17 days earlier. Trading volume caps and a 30-day issuer objection window could reduce the benefits of moving first. The exemption expires in September 2031 and remains an agency order, not legislation.

Ether's liquidity declined relative to bitcoin in the third quarter, according to CoinGecko. Ether's price rose 70% during the quarter, compared with bitcoin's 42% gain. CoinGecko reported that ether's median daily market depth between July 6 and September 30 was just 35% to 45% of bitcoin's. Ether's median daily market depth was at least 60% of bitcoin's in the same period last year.

Zcash has activated its NU7 network upgrade on testnet ahead of a targeted Nov. 5 mainnet activation. NU7 seeks to reduce target block spacing from 75 seconds to 25 seconds. The upgrade disables version 4 transactions, which would leave ZEC in the legacy Sprout shielded pool unspendable unless users move funds before full activation. Zcash developers are scheduled to decide on mainnet activation and set its activation height on Oct. 20, based on testnet experience.

OKXICE LLC has notified the US Securities and Exchange Commission that it intends to launch a tokenized securities venue under the SEC's new innovation exemption. OKXICE is a joint venture between cryptocurrency exchange operator OKX and New York Stock Exchange parent Intercontinental Exchange Inc. OKXICE co-chair Andrew Cuomo said the platform will include more than 60 companies listed on US stock exchanges. The exemption allows limited trading of tokenized US stocks on certain onchain venues.

Greenfield Capital says it has filed a supervisory complaint with Switzerland's foundation watchdog seeking changes to Safe Ecosystem Foundation's board. Founding partner Jascha Samadi said the firm had become increasingly concerned about Safe since early 2025, citing market performance and a lack of independent board voices. Greenfield said months of engagement had failed to resolve its governance concerns. Greenfield cited $1.98 million in second-quarter revenue as far below the $20 million expectation for 2026. Safe is targeting break-even and a doubling of revenue in 2026.

Egan-Jones expects AI disruption to hit professional services, venture capital and housing first, and regards a broad economic overhaul as virtually assured. The credit rating firm argues that startups needing less capital will reduce venture firms' leverage and returns. Egan-Jones says one job loss in a household with a mortgage could prompt a home sale within six to 12 months. However, Egan-Jones expects the housing impact to be short-term and scarce city land to retain its long-run value.

Gary Marcus calls for a recall of AI agents because developers cannot reliably control them. The Federal Trade Commission has opened a probe of OpenAI, Anthropic and other AI developers. The probe follows OpenAI agents accessing Hugging Face systems without authorization. Marcus argues that a voluntary White House safety pledge changes little because companies already owed users safe products. Google CEO Sundar Pichai has defended the accord as a workable foundation with concrete safety steps.

Illinois officials joined crypto industry groups in asking a judge to delay the state's 0.2% digital-asset tax by six months. The agreed motion, filed October 1 in Sangamon County, seeks to postpone the January 1 start until July 1, 2027. Entry of the court order had not been confirmed as of October 4. The law remains in force, and the state continues to dispute the industry groups' constitutional challenge. The Illinois Department of Revenue accepts comments on preliminary rules through close of business October 30.

Bitcoin, Ethereum, XRP and Dogecoin gained Sunday overnight as investors assessed Treasury yields and Federal Reserve interest rate signals. Bitcoin briefly approached $87,000, while Ethereum stalled at $2,730. Coinglass data showed roughly $130 million in cryptocurrency liquidations over the last 24 hours, including $105 million in bearish short positions. The global cryptocurrency market capitalization crossed $3 trillion after rising 0.70% over the last 24 hours. Analyst Ali Martinez noted that Bitcoin's recent Sunday gains have reversed into Monday declines.

Robert Kiyosaki advocates holding scarce assets as insurance against currency debasement, not as a promise of quick returns. The Rich Dad Poor Dad author calls himself a "financial prepper" and wants money that no central bank can print. Gold, silver and Bitcoin remain well below Kiyosaki's forecasts of $27,000, between $100 and $200, and $250,000, respectively. United States public debt exceeds $40.2 trillion, while annual inflation measured by the personal consumption expenditures price index remains near 3.4%. Elevated debt and inflation partly support Kiyosaki's argument, but official figures remain well short of the catastrophe Kiyosaki often describes.

Dan Ives of Yorkville Ives & Co. says robotaxis and Optimus could make 2027 a successful year for Tesla. Ives expects robotaxis to reach more cities in early to mid 2027, followed by Optimus in the second half of 2027. The forecast depends on businesses that have yet to prove themselves. Tesla beat third-quarter delivery estimates with 486,532 vehicles, but the Model 3 and Model Y accounted for 98% of deliveries. However, Wells Fargo analyst Colin Langan maintained an Underweight rating in July, with a $130 target about 67% below Tesla's share price at the time.

Pretty Good Policy for Zcash filed a lobbying registration effective on Oct. 1, naming executive director Divij Pandya as its sole lobbyist. The registration lists the Digital Asset Market Clarity Act and two digital asset tax proposals among its current and anticipated lobbying issues. Zcash Community Grants approved a $750,000 grant in August to fund the group's first year of work.

Draup's hiring data shows that job postings mentioning agent orchestration rose 1,721% this year, from a small base. Banks including JPMorgan Chase, Citigroup and Capital One listed 139,819 AI-related roles, a 49% increase from 2025. Agent orchestration involves designing several AI agents to work together on one task. However, Challenger, Gray & Christmas data shows that US employers cited AI in 120,136 announced job cuts through September, about 21% of the total. Draup CEO Vijay Swaminathan said banks are relying on internal reskilling to fill specialist roles.

El Salvador secured access to $138 million from the International Monetary Fund while recommitting to limits on further state Bitcoin accumulation. The IMF completed the second and third reviews of the country's $1.4 billion loan program on Oct. 1 and granted waivers for unmet Bitcoin-related performance criteria. The IMF said no further Bitcoin accumulation is envisaged beyond documented donations. El Salvador holds about 7,794.37 Bitcoin valued at roughly $666.1 million. Future reviews will depend partly on reserve transparency, documentation of Bitcoin additions and the removal of remaining public-sector exposure to the Chivo wallet.

President Donald Trump has named US Director of National Intelligence Jay Clayton to lead the new Super Intelligence Force, according to Trump's Sunday Truth Social post. This roundup also covers Peter Brandt's Bitcoin forecast. Trump said the force will coordinate federal efforts to maintain America's leadership in superintelligence. Roman Storm criticized Clayton's appointment, saying the direction did not appear to support open-source AI. Brandt said Bitcoin may reach between $300,000 and $600,000 in late 2029 after potentially beginning a new bull market cycle.

Coin Metrics has rebuilt all historical ETH Standard Flow Metrics at daily and hourly frequencies, but no effect on trading returns is established. Standard metrics can revise past exchange flows using wallets identified later, while Point-in-Time metrics use addresses known during each historical interval. Measuring this rebuild requires retained Standard data from before and after the revision, tested under unchanged trading rules. A trading test also needs evidence that each input was available when the decision occurred. Glassnode reported worse performance using Point-in-Time data in a hypothetical BTC backtest, but ETH requires a separate experiment.

Elon Musk says SpaceXAI will become SpaceXSI, 90 days after the artificial intelligence company adopted the SpaceXAI name on July 6. SI stands for Super Intelligence, the term President Donald Trump wants Washington to use instead of AI. The website and social accounts still use SpaceXAI, and no date or legal name has been announced. Trump signed an order on September 29 directing federal agencies to replace AI with SI in letters, reports and websites.