BeInCrypto Global

Citigroup expects the US Treasury to cut $3 billion from each 20-year and 30-year bond auction and borrow more through short-term bills instead. Citi said the 20-year bond could even be canceled, with an announcement expected November 4.
The Treasury has not confirmed any change. Bills cost less today, but they mature within a year, so the government must refinance them far more often at whatever rate investors demand.
Why Is the Treasury Shrinking Its Long-Term Debt Sales?
Long-term borrowing costs sit near multi-decade highs. The 10-year yield closed at 5.24% on October 9 and the 30-year at 5.60%, according to Treasury data.
10 and 30 Year US Treasury Yields. Source: TradingView
On October 1, the 10-year touched its highest level since April 2002. That same day, the Treasury used its full $6 billion bond buyback limit to retire older long-term debt.
Treasury Secretary Scott Bessent had already challenged bond traders in September.
“I am the house now. … You can bet against me if you want,” he said.
Yields kept rising regardless. Selling fewer long bonds is Citi’s forecast for his next step, according to Bloomberg.
What Shorter Borrowing Means for Interest Costs and Crypto
Bills are cheaper for now. The 3-month yield stood at 4.25% on October 9, well below the 30-year rate.
US 3-Month Yield. Source: CNBC
However, the national debt passed $40 trillion in August, and interest already costs about $1.1 trillion a year, according Treasury figures.
BNP Paribas strategists doubt the shift would lower government borrowing costs. Kevin Flanagan, head of investment strategy at WisdomTree, questioned the math in August.
“It seems to me mathematically very difficult to cut issuance at the longer end of the curve and make it up elsewhere,” Bloomberg reported, citing Flanagan.
Crypto traders have felt the yield climb already. Bitcoin (BTC) cooled when the 10-year hit its 2002-level high and now trades at $84,030, up 1.2% in 24 hours, moved by US President Trump’s latest remarks.
Bitcoin Price Performance. Source: BeInCrypto
The next signal arrives with a Treasury survey of bond dealers next week. The November 4 refunding statement will then show whether Washington borrows shorter, and how long-term yields respond.

XRP investors are about to get a new way to invest in the token through the stock market.
Evernorth Holdings completed its merger with Armada Acquisition Corp. Its shares are expected to begin trading on Nasdaq on Monday, October 12, under the ticker XRPN.
Simply put, Evernorth is a company holding a large reserve of XRP. Investors can buy its stock through a brokerage account without buying or storing cryptocurrency.
They own shares in Evernorth, rather than XRP itself.
Five Key Facts About Evernorth’s Nasdaq Debut
1. Trading starts Monday. The original October 8 launch was delayed by an administrative issue. Evernorth expects to ring Nasdaq’s closing bell on October 14.
2. Its treasury holds 473 million XRP. The company also reported approximately $300 million in gross cash proceeds before transaction expenses, making it the largest publicly traded pure-play XRP treasury company.
Evernorth’s XRP Holdings. Source: CoinGecko
3. Ripple is among its backers. Other supporters include SBI Group, Arrington Capital, Pantera Capital, Kraken and GSR. Some investors contributed XRP directly.
4. It plans to put the XRP to work. CEO Asheesh Birla said Evernorth aims to “grow XRP per share over time.” Strategies include earning yield and investing in infrastructure supporting the XRP ecosystem.
5. XRPN is a stock, not XRP. Its share price will reflect the value of its holdings, alongside business expenses and investors’ confidence in management. It may move differently from the token.
1/4 Public markets, meet the XRP Ledger. Evernorth has completed its business combination with Armada Acquisition Corp. II. On Monday, our common stock is expected to begin trading on Nasdaq under the ticker $XRPN.Not investment advice or an offer of securities. Contains… pic.twitter.com/eGcxtA4AxT
— evernorthxrp (@evernorthxrp) October 9, 2026
What Could This Mean for XRP’s Price?
The listing could draw attention after XRP fell from about $1.50 on October 5 to around $1.40 by October 11.
Still, the debut itself does not require major new token purchases. Much of Evernorth’s XRP was contributed before trading began.
A longer-lasting XRP price recovery would depend on new token purchases, wider market demand or improving crypto sentiment.
Traders should watch what Evernorth actually buys in the coming weeks rather than assume a strong XRPN debut will automatically lift XRP.

Michael Burry, the investor made famous by The Big Short, says the charts of Fannie Mae and Freddie Mac now point to worthless stock. Less than a year ago, he disclosed sizable stakes in both mortgage giants.
The two companies back a large share of US home loans and have been under government control since the 2008 crisis. Their shares soared after Donald Trump’s 2024 election win on bets he would set them free.
How Far Fannie and Freddie Shares Have Fallen
Fannie Mae closed at $1.39 on Election Day 2024, according to Yahoo Finance data. It peaked at $15.31 on September 11, 2025, and closed Friday at $4.04.
Federal National Mortgage Association (FNMA) Stock Performance. Source: Yahoo Finance
That is a 74% drop from the top, erasing about 80% of the post-election rally. Freddie Mac followed the same path, from $1.20 to $14.15 and back to $3.68.
In a Sunday newsletter post, Burry said both stocks had formed a head-and-shoulders top, a chart shape traders read as the end of a rally.
“What that chart predicts, technically, is worthless stock,” Burry wrote.
Burry said he made a move in both stocks this week. The direction of that trade sits behind his paywall. In December 2025, he told readers he expected public listings to lift both shares.
Why Burry Says Common Shareholders Could Lose 90%
The risk lies in the 2008 bailout. Treasury holds senior preferred stock, a class of shares that must be repaid before ordinary shareholders see anything. That repayment claim grows every quarter.
Pointing to share prices and commentary from investment bank KBW, Burry said Wall Street increasingly expects Treasury to convert that stake into common stock. He estimates the swap would shrink existing holders’ share of the company by at least 90%.
New X article. This past week I made a move in both Fannie Mae & Freddie Mac. Both stocks have retraced essentially all their gains since Trump’s election, and they put in a giant head-and-shoulders-and-elbows top for added emphasis. https://t.co/v3la5ffCUk
— Cassandra Unchained (@michaeljburry) October 11, 2026
He also said the summer punished most stocks outside the AI trade. In his view, the share of stocks joining the rally is shrinking toward levels last seen near 2000.
The warning follows his call this week that Anthropic’s valuation is a bubble. Days earlier, he said stocks are in denial, as before the 2000 and 2008 crashes.
Burry has written that common holders need two things, an end to government control and a sharp cut to Treasury’s claim. Neither has happened yet, and both depend on decisions in Washington.

Bitcoin can cost more in South Korea than it does almost anywhere else. For years, traders chased that gap for profit. Now, automated trading is making the race faster, while strict banking rules still decide who can take part.
The price difference, known as the Kimchi Premium, was once a popular sign of Korean investors rushing into crypto. Its meaning is becoming harder to read.
Why Bitcoin Costs More in Korea
The trade sounds simple: buy Bitcoin cheaply abroad, transfer it to a Korean exchange, and sell it for more.
But South Korea restricts cross-border money transfers. Traders cannot always move their profits back overseas freely. That helps explain why the premium can survive even when everyone sees it.
Historically, a widening gap often signaled strong local demand. Investors watched it for clues that retail speculation was heating up.
Kimchi Premium Live Chart. Source: GoldKimp Bots are Moving Faster Than Humans
Evidence suggests some traders have already automated the process.
A June 2026 study examined 16,228 arbitrage transactions between Binance and Bithumb. Researchers found 96% took place within five-minute intervals, pointing to possible automated trading.
That does not prove AI agents control the market. But it shows how difficult it can be for manual traders to compete with software.
Korea’s tighter investor-protection rules add another obstacle. Exchanges face greater oversight, while restrictions on moving money across borders still limit who can exploit the spread.
🇰🇷 South Korea's president says hackers used AI to break into banks, and it's got the whole country on edge.Lee Jae Myung said today that customer data was exposed at 7 financial firms over the past week, with signs of AI being used in some of the attacks.The hackers went… pic.twitter.com/5KwoMmi6JL
— Mario Nawfal (@MarioNawfal) October 6, 2026
The Premium No Longer Tells the Whole Story
The gap can widen when Korean buyers get aggressive. It can also reflect slower selling, currency changes, or shifts in local market sentiment.
Meanwhile, retail demand remains substantial. Chainalysis estimates South Korea’s crypto economy at $449 billion over its latest study period, with investors particularly interested in AI-linked tokens.
Proposed won-backed stablecoins could eventually make settlement easier, if regulators permit them.
For investors, a rising Kimchi Premium still matters. But treating it as automatic proof of a buying frenzy risks missing what is happening behind the prices.

Americans without $1 million in net worth or a $200,000 salary could soon invest in private companies by passing an accredited investor exam the SEC has put out for public comment.
Right now, wealth decides who counts as an “accredited investor.” Only they can buy into most startups and private funds before those companies list on a stock exchange.
What Would the Accredited Investor Exam Test?
The Financial Industry Regulatory Authority (FINRA), the industry body that licenses US stockbrokers, would build the test, according to the SEC’s notice.
Anyone aged 18 or older could sit it. Candidates would get about two hours for roughly 75 multiple-choice questions, taken in person only.
The fee would likely match FINRA’s entry-level broker exam, currently $100. A pass would stay valid for 10 years.
Investment risks would carry the most weight, at 20% to 28% of the test. Financial statements, conflicts of interest, and corporate governance would also feature.
The SEC is also asking whether certified public accountants (CPAs), Chartered Financial Analyst (CFA) charter-holders, and Certified Financial Planner (CFP) professionals should qualify automatically.
Current accredited investor wealth tests vs. proposed exam and credential pathways Why Armstrong Is Cheering and Who Is Pushing Back
Brian Armstrong, CEO of the crypto exchange Coinbase, called the plan “a huge step forward” for investors priced out of private deals.
“For too long, only the richest people have had access to the private markets. Retail has been missing out,” he wrote in a post.
Crypto firms are already moving toward that market. MoonPay agreed in September to buy North Capital, a Utah broker handling private stock deals.
However, not everyone sees the exam as the answer. SEC Commissioner Hester Peirce backs looser rules but said a test still casts the government as gatekeeper, according to law firm Mayer Brown.
I'm not a fan of accredited investor gating, but at least we're proposing to nudge the gate open a bit: https://t.co/ylpd8v0SRV
— Commissioner Hester Peirce (Archived) (@PeirceArchived) September 30, 2026
Meanwhile, Noah Damsky, a principal at Marina Wealth Advisors, called the exam idea “horrible” in comments to Financial Planning. He argued many private-market products fit ordinary investors poorly.
The timing has also drawn scrutiny. Money raised by private funds is on track to fall for a fifth straight year, according to PitchBook data.
Private capital’s trailing 12-month fundraising declines. Source: Pitchbook
With exits and payouts down, institutional investors have less cash to commit to new funds, PitchBook noted.
Better Markets, a financial reform group, links the SEC’s plan to that slowdown. Its securities policy director, Benjamin Schiffrin, said in a statement that funds need retail savings “as institutional investors increasingly pull back from private markets.”
The public has until December 4 to comment. The exam sits inside SEC Chair Paul Atkins’ wider push to open private markets to retail savers, alongside a proposal letting more funds charge performance fees.

SpaceX is seeking $40 billion in new debt to buy Nvidia chips. The request lands days after billionaire Ray Dalio said borrowing for AI has pushed markets close to a bubble burst.
The space company raised nearly $86 billion in its June stock market debut. Weeks later, it sold another $25 billion in bonds.
Why Ray Dalio Says the AI Bubble Is Close to Bursting
Dalio, who founded hedge fund Bridgewater Associates, called AI a “classic bubble” at a Forbes conference in Singapore on Wednesday.
His concern is debt and rising rates. Investors with paper gains eventually sell to raise cash, and Dalio said that is where bubbles usually break.
“We’re in the part of the cycle that is before that but approaching that. I think we’re close to that,” he said.
How Much Is SpaceX Borrowing for AI?
Since absorbing Elon Musk’s AI firm xAI in February, SpaceX spends more on AI than its rocket and Starlink businesses earn. The new package would include $10 billion in bank loans and $30 billion in bonds, per the FT.
BREAKING: Elon Musk's SpaceX is in talks to raise $40 Billion in debt to buy Nvidia chips, per FT.The financing could include $10 billion in bank loans and $30 billion in investment-grade debt, led by Apollo. pic.twitter.com/ZFrRgOHaOS
— Bull Theory (@BullTheoryio) October 7, 2026
SpaceX carries a BBB credit rating, two steps below Meta and Alphabet.
Morgan Stanley analyst Adam Jonas wrote in August that SpaceX may need to borrow about $80 billion a year through 2035, The Motley Fool reported.
The money would flow to Nvidia, and all 35 Wall Street analysts covering the chipmaker rate NVDA stock a buy, with an average target of $324.20.
Meanwhile, Wall Street is split on whether the borrowing will pay off. Of 35 analysts tracking SpaceX, 28 rate it a buy, five a hold and two a sell.
Their average 12-month price target is $216.21, about 33% above Friday’s close of $162.57. Targets range from $75 to $450.
SpaceX (SPCX) Stock Forecast & Price Target. Source: TipRanks Who Else Is Exposed if the AI Bubble Bursts?
SpaceX shares closed Friday at $162.57, about 28% below their 52-week high. A batch of 1.31 billion insider shares unlocks after third-quarter results.
SpaceX (SPCX) 5-Day Share Price Performance. Source: Yahoo Finance
The Motley Fool’s Jeremy Bowman wrote that SpaceX would likely fall first in a burst, though he doubts one is near.
SpaceX is not alone. Anthropic has $518 billion in future computing commitments, and OpenAI has $665 billion, according to the Fool. Oracle shares slid on Thursday after questions over OpenAI’s revenue.
Dalio’s warning ties all of that spending to one variable. If rates keep rising, he said, the pressure to sell builds.

Despite the market dip and liquidations over the past week, Bitcoin has seemingly entered a bull market, as the analysis of its 50-week moving average shows.
BloFin Research argues that Bitcoin’s traditional four-year boom-and-bust cycle is gradually losing strength. Future rallies could deliver smaller gains, followed by shorter and less severe downturns.
Why Bitcoin’s Bear Market May Already Be Over
The strongest evidence comes from Bitcoin’s recovery above its 50-week moving average, a technical indicator that previously signaled bull-market transitions in 2015, 2019 and 2023.
Bitcoin reclaimed this level near $78,800 in September. It subsequently traded above $86,000 in early October.
Meanwhile, Bitcoin’s MVRV ratio, which compares its current market value with the average price investors paid for their coins, moved above its annual average.
As of October 11, MVRV stood near 1.54, above its 365-day average of 1.44. This suggests the longer-term recovery remains intact despite recent selling.
It means Bitcoin’s market strength is improving, a signal that has previously appeared during the early stages of bull markets.
Bitcoin MVRV Ratio. Source: Glassnode Bitcoin’s Historic Crashes Are Getting Smaller
BloFin’s most significant finding concerns the declining severity of Bitcoin’s market cycles.
Bitcoin fell approximately 53% from its October 2025 peak of $124,824 to $58,525 in June 2026.
Previous bear markets were considerably worse:
Bear marketPeak-to-trough decline2013–201584.5%2017–201883.8%2021–202276.7%2025–202653%
Bull-market gains have also narrowed. Bitcoin’s trough-to-peak returns have declined from roughly 530 times in its earliest cycle to eight times in the most recent one.
If June remains the bottom, the latest bear market lasted approximately eight months, compared with 12–13 months historically.
How Bitcoin’s Bull-Market Returns Have Narrowed. Source: BloFin Research Institutional Investors Are Changing Bitcoin’s Cycle
BloFin Research attributes much of this change to longer-term ownership. In September, approximately 16.64 million BTC, or 83% of circulating supply, had remained unmoved for at least 155 days.
Meanwhile, US spot Bitcoin ETFs held around 1.3 million BTC on October 2. Public companies owned another 1.29 million BTC.
Together, ETFs and corporate treasuries controlled approximately 13% of circulating Bitcoin.
However, last week’s $679 million ETF outflow shows that institutional demand can still weaken sharply during market stress.
What Happens to Bitcoin’s New Bull Market?
Bitcoin was trading around $83,000 on October 11, still above the September moving-average breakout level and well above its June low.
The four-year cycle also remains visible. Bitcoin peaked roughly 18 months after the April 2024 halving, consistent with historical patterns.
Bitcoin Price Against Its Realized Price. Source: BloFin Research
For traders, a sustained move below the current 50-week moving average would weaken the bullish signal. A break beneath $58,525 would challenge the proposed cycle bottom.
For now, Bitcoin’s longer-term recovery indicators remain positive. The recent ETF withdrawals show why the transition toward a more stable market could still involve sharp corrections.

The world has plenty of oil. Yet prices keep climbing, and JPMorgan says the problem is now at sea. There are simply too few available tankers to move all that crude.
In an October 9 note, the bank warned that a shipping bottleneck is driving up transport costs, even as Middle Eastern producers increase exports.
Oil shipments through the Strait of Hormuz reached 12 million barrels a day in September, up from 7.5 million in July and August. Yet prices remain high.
Remember when JP Morgan came out 2 weeks ago claiming Hormuz flows were near pre-war highs?Well, they have a new oil report and it's not looking good."October is beginning to look like April". Why?The cost of shipping crude is skyrocketing and it's not changing soon. pic.twitter.com/oDXEkF4Qt3
— Nic (@puckrin) October 11, 2026
The World’s Oil Tankers Are Running Out of Capacity
According to JPMorgan, 766 of the world’s 923 supertankers were already in use by September. Another 124 Iranian vessels are largely inaccessible to mainstream shipping because of US sanctions.
The remaining ships face longer journeys, while transferring oil between vessels can take up to 10 days.
Consequently, moving Middle Eastern crude now requires 35 more supertankers than the 2025 average, excluding Iranian shipments.
“In April, the problem was a shortage of crude. In October, it is the cost of moving it,” JPMorgan analysts Natasha Kaneva, Lyuba Savinova, and Artem Fakhretdinov wrote.
One Oil Tanker Now Costs $1.16 Million a Day
The shortage is already hitting freight markets.
On October 7, a supertanker heading to South Korea was hired for $1.162 million per day, according to Seatrade.
Meanwhile, Brent crude traded near $102.77 on October 9, while US crude reached approximately $93.13.
US and UK Crude Oil Spot Prices. Source: TradingView
Higher shipping costs are squeezing refiners, too. JPMorgan warned that European refining margins are turning negative, potentially forcing some facilities to reduce production.
Can More Oil Actually Bring Prices Down?
Earlier this month, G7 nations agreed to release 100 million barrels from emergency reserves.
President Donald Trump also claimed the Strait of Hormuz no longer drives gasoline prices.
However, JPMorgan’s findings raise a bigger question: What happens when governments release more oil than available ships can efficiently transport?
For investors, shipping capacity is becoming increasingly important. Tanker-focused investments have already drawn attention amid the disruption.
Until shipping costs ease, additional crude supplies may offer limited relief to buyers.

Bitcoin (BTC) rose to $83,864 on Sunday after President Donald Trump declared an immediate energy ceasefire between Russia and Ukraine. Neither Moscow nor Kyiv confirmed the deal.
Oil futures have been closed since Friday. When they reopen Sunday evening in New York, energy traders get their first chance to price a truce that rests on a single post.
Why Crypto Short Sellers Paid for Trump’s Post
Trump wrote on Truth Social that both sides had agreed and warned them not to break it. He gave no terms, start time, or way to check compliance.
Effective Immediately: An ENERGY CEASEFIRE in the War between Russia and Ukraine. pic.twitter.com/PukfiuHOdy
— The White House (@WhiteHouse) October 11, 2026
Crypto markets moved anyway. Both Bitcoin and Ethereum prices rose in the immediate aftermath of the news, albeit modest gains.
The rise hit traders betting on a fall. A liquidation happens when an exchange force-closes a borrowed bet that has lost too much.
CoinGlass data showed $70 million in short bets wiped out over four hours. Long liquidations totaled only $6.9 million.
Shorts made up 97.1% of the $22.29 million liquidated on Bitcoin in that window. The reaction contrasts with June, when BTC barely moved on the Senate’s Iran vote.
CoinGlass liquidation heatmap showing short-heavy liquidations after the Trump energy ceasefire post, Source: CoinGlass Ukraine Learned of the Truce From Trump
Ukrainian President Volodymyr Zelensky said the announcement was “news for me.” He then set out his terms.
“If President Trump negotiated it with Putin, please tell us when the ceasefire begins. We are ready, and we will accept it,” Axios reported, citing Zelensky.
Still, it is important to note that the EU is preparing additional funding for Ukrainian drones and missiles, even as Zelensky mulls a possible ceasefire on energy infrastructure.
Good call with @ZelenskyyUa today.Fully supported the call of President Zelenskyy for a ceasefire that would protect global food supplies and energy infrastructure in Ukraine and RussiaThe war has entered a new, grimmer phase. Russia is stalling on the battlefield and…
— Ursula von der Leyen (@vonderleyen) October 11, 2026
Moscow had not commented by press time. On October 8, Kremlin spokesperson Dmitry Peskov said Russia saw no point in a sector-only ceasefire, reported the Kyiv Independent.
Trump made a similar claim in September. Neither side confirmed it, and both kept striking energy sites.
What the Oil Open Will Reveal
West Texas Intermediate (WTI), the US crude benchmark, last settled at $91.66 a barrel. Brent, the global benchmark, closed at $104.42.
The war with Iran has already pushed fuel prices higher, as BeInCrypto tracked when oil passed $110 in April. Trump has since eased sanctions on Russian diesel exports and pressed Kyiv to stop hitting Russian refineries.
Bitcoin has already voted on the ceasefire. Oil, the market most exposed to it, votes next.

Four Russian military satellites closed in on a Western spacecraft supplying intelligence to Ukraine. Germany’s space commander now warns that similar tactics could threaten Elon Musk’s Starlink, potentially affecting users far beyond the battlefield.
In May, four Russian military satellites followed a Finnish satellite that provides battlefield images to Ukraine.
Major General Michael Traut, head of German space command, described the Russian spacecraft as “chasing” the satellite. He thinks similar tactics could be used against Starlink.
Germany's space commander warns russia could wear down Starlink without firing a shot so, remember, continuing to provide aid to Ukraine comes at a very high cost to SpaceX.Maj. Gen. Michael Traut, head of German Space Command, told Reuters that russia's maneuvering of four… pic.twitter.com/46QWbSZ9zJ
— Eva Fo𝕏 🦊 Claudius Nero's Legion (@EvaFox) October 9, 2026
How Russia Could Disrupt Starlink Without Firing a Shot
Traut warned that Moscow could use “grey-zone” tactics to interfere with Starlink while avoiding an open military confrontation.
He described one hypothetical scenario:
A Russian satellite enters a Starlink orbital path and breaks apart.
The debris could force other satellites to change course to avoid collisions.
Every maneuver consumes fuel. Repeated evasions could shorten satellites’ working lives and affect internet service, including for civilians outside Ukraine.
The threat remains hypothetical. There is no reported Russian debris attack on Starlink.
However, the earlier ICEYE encounter was real. The Finnish company tried to move its satellite away from the Russians, but they continued to follow it.
This is wild… Russia seems to be threatening a *commercial* satellite that provides imaging services to Ukraine:▸ starting about two weeks ago, Russia started maneuvering five (!) of their classified satellites to the same orbital inclination as the ICEYE satellite▸ these… https://t.co/aC1akaKZGF pic.twitter.com/Xk7mC5BcoM
— Christian Keil (@pronounced_kyle) May 27, 2026
Europe Prepares for a New Space Threat
Western officials say Russian interference with satellite systems has increased since the 2022 invasion of Ukraine. They cite satellite shadowing and ground-based signal jamming.
Moscow has warned that commercial satellites assisting Ukraine could become targets. Russia’s defence ministry and Starlink operator SpaceX did not respond to Reuters’ requests for comment.
Germany is developing inspection satellites and considering orbital weapons that could disrupt hostile spacecraft without destroying them. Its military has also ordered dozens of satellites to support NATO’s eastern flank.
The incident raises a growing concern for Western governments. Their militaries increasingly depend on private satellite networks, while responsibility for protecting them remains unclear.

Meta stock has fallen nearly 8% since Mark Zuckerberg sold $21.4 million worth of shares in September. Yet Wells Fargo sees the stock reaching $1,000, raising questions about what investors should make of the company’s insider selling.
Over the past six months, Meta executives and directors recorded 172 stock transactions, with no insider purchases.
At first glance, that looks concerning. However, SEC filings suggest the selling may reveal little about where Meta stock is heading.
Look at this.Meta, $META, insiders have made 172 trades in their own stock over the past six months.Purchases: zero.CFO Susan Li: ~$95 million soldCOO Javier Olivan: ~$24 million sold, often every weekProduct chief Chris Cox: $13 million sold on Sept. 9CTO Andrew… pic.twitter.com/bfPL3Y9clO
— unusual_whales (@unusual_whales) October 10, 2026
Are Meta Insiders Losing Confidence?
Zuckerberg sold shares on September 24, when Meta traded near $778. The stock closed Friday around $719.
Other senior executives, including CFO Susan Li and COO Javier Olivan, have also been selling.
Unusual Whales reported that Olivan sold roughly $24 million in shares through repeated transactions.
However, these executives arranged their sales months earlier under Rule 10b5-1 trading plans.
Some transactions were also related to taxes rather than actual selling. One SEC filing explicitly states that the transaction “does not represent a sale.”
Zuckerberg also retains a substantial controlling stake in Meta.
META Stock Performance. Source: Yahoo Finance Can Meta Stock Still Reach $1,000?
Despite the recent decline, Wells Fargo set a $1,000 price target for Meta, suggesting nearly 40% potential upside.
That optimism largely depends on Meta’s AI investments delivering stronger revenue growth.
However, the company’s rising spending on AI infrastructure could pressure profits if returns take longer than expected. Other analysts have more conservative price targets.
For investors, Meta’s earnings growth and the financial returns from its AI investments are likely to matter far more than scheduled insider sales.
The absence of insider buying may raise questions about executive confidence. But the filings offer little evidence that Meta’s leadership is preparing for a stock collapse.

Rare Pokémon cards continue to outperform traditional assets. The CardTrack 100 index has returned 150.7% since September 2021, beating Bitcoin, gold, and the S&P 500 by wide margins.
The numbers reveal why collectors now treat rare graded cards like serious alternative investments rather than toys.
The combined value of the 100 most valuable Pokémon cards. Source: CardTrack Pokémon Card Values Keep Breaking Records
The CardTrack 100 is a monthly index that tracks the combined value of the 100 most expensive Pokémon cards worldwide. It works as a thermometer for the top of the collectibles market.
The index currently sits at 251 points, with a base value of 100 set in September 2021. Its total combined value now reaches $244,750 across the tracked cards.
A $5,000 investment made four years ago would be worth $12,534 today based on that performance.
The same capital in gold would be worth roughly $ 12,390.
Bitcoin sits around $ 9,800 for the same period.
The S&P 500 trails even more, returning roughly 73% and turning $5,000 into approximately $8,650 today.
Just twelve days ago on September 29, the index set an all-time high of $253,800 points. The current reading sits only 1.2% below that recent peak.
Why are Collectors Pricing Cards Like Blue-Chip Art?
Mainstream recognition explains the shift. For example, a 1998 Pikachu Illustrator card sold for $16.5 million earlier this year, reshaping the market ceiling permanently.
Recent auctions reinforce the trend. Four rare e-Reader cards, including a Skyridge Gengar, fetched a combined $780,000 this week, while a first-edition Charizard reportedly set a new record of $1.38 million.
The PSA 10 1st edition Charizard has done it. The icon. The Mount Rushmore. The legend. The singular, signature card of Pokémon that stands next to the 52 Mantle, the Black Lotus of MTG, the T206 Wagner, the 1984 Star Jordan. One of the 5 most iconic trading cards of all… pic.twitter.com/V5cj7Tw5PN
— Jeremy Padawer (@JeremyCom) October 9, 2026
eBay executives confirmed that Pokémon was the most searched term in their collectibles category during the first half of 2026. Grading giant PSA reports trading-card games now account for half of its entire business.
Scarcity, professional grading, nostalgia, and a growing class of serious collectors have turned rare Pokémon cards into one of the strongest alternative assets of the decade.

Wall Street is pouring billions into Bitcoin, yet ordinary investors still hold most of the supply. Meanwhile, some of the biggest corporate buyers are spending millions to simply maintain their Bitcoin holdings.
Individuals own an estimated 13.9 million BTC, or 66% of the 21 million coins that will ever exist, according to Bitbo and River data compiled by Motley Fool.
That leaves institutional investors competing for Bitcoin that existing holders may be unwilling to sell.
Who Actually Owns Most of Bitcoin?
As of October 9, Bitcoin ETFs held 1.48 million BTC, according to Bitbo. Companies controlled another 1.66 million, while governments held roughly 518,500.
Together, these groups accounted for about 17% of Bitcoin’s maximum supply.
BTC holdings in publicly traded and private companies, ETFs, and countries. Source: Bitbo
Meanwhile, around 1.6 million BTC are estimated to be lost. Another 968,000 sit in wallets linked to Bitcoin’s anonymous creator, Satoshi Nakamoto.
However, ownership is gradually shifting. River data shows individuals sold a net 696,000 BTC in 2025. Businesses, investment funds, and governments purchased nearly one million coins.
If that trend continues, institutions may have to offer higher prices to persuade existing holders to sell.
Corporate Bitcoin Buyers Face Growing Cash Demands
Holding Bitcoin also comes with costs for companies financing their purchases.
Strategy, formerly MicroStrategy, holds roughly 848,000 BTC. Yet its latest disclosure shows it drew $142.5 million from its dollar reserve for dividends and interest during the week ending October 4.
The company also spent $73.7 million buying back preferred shares between October 1 and 4. By comparison, it purchased just 334 BTC for $28.7 million.
Japan’s Metaplanet took another approach. According to its October 5 disclosure, it sold 10,000 BTC and repurchased 11,000 during the third quarter to demonstrate liquidity.
The company now holds 44,000 BTC and has limited Bitcoin to 85%–90% of its assets.
Bitcoin Price Performance. Source: BeInCrypto
With Bitcoin trading near $83,000, institutional demand remains significant. But Strategy’s latest spending shows how maintaining a large Bitcoin treasury can compete with buying more coins.

French lawmakers are proposing a bill where crypto holders need to pay tax on their unrealized profit if they leave the country, even if they haven’t yet sold the assets. The exit tax would apply to portfolios worth more than €800,000, or nearly $900,000.
France already charges this tax on shares when wealthy residents leave. Crypto has been exempt, and the plan could still fail in a debate that starts Tuesday.
How France’s Crypto Exit Tax Would Work
The measure is an amendment to France’s 2027 budget bill. Left-wing deputy Nicolas Sansu filed it with 16 co-signers, and the National Assembly’s finance committee adopted it on October 8, according to a Paris law firm.
The tax targets gains that exist only on paper. Someone who paid €200,000 for coins now worth €1 million holds an €800,000 paper gain, taxable on moving even without a sale.
It would apply to anyone who lived in France for six of the past 10 years. Coins on trading platforms count, and so do coins in personal wallets, including abroad.
Leavers would also have to list every crypto holding on their tax return. The authors argue that a person leaving with millions in crypto currently avoids a tax that a shareholder of equal wealth pays.
Stablecoin Swaps Face the Same Deadline
A second Sansu proposal, adopted on October 7, targets stablecoins. These are digital tokens pegged to a currency such as the dollar or euro.
BREAKING: 🇫🇷 FRANCE JUST ADVANCED A MAJOR BILL TO TAX #BITCOIN AND CRYPTO STARTING NEXT YEAR‼️ STABLECOIN CONVERSIONS WOULD BE TAXABLE‼️ AN EXIT TAX IF YOU LEAVE WITH OVER €800,000 IN CRYPTO‼️ A PROPOSAL TO FORCE WALLET DECLARATIONS OVER €100,000THEY'RE BUILDING ONE OF… pic.twitter.com/HbQIkzEDyl
— The Bitcoin Historian (@pete_rizzo_) October 9, 2026
Today, swapping Bitcoin for a dollar-pegged token is not taxed in France until the holder converts to cash. From January 2027, that swap would count as a sale, taxed at France’s 31.4% flat rate.
The authors call the current treatment a gap in the law. They say the UK and Italy already tax such swaps.
Both measures now hang on a reset. On October 9, the committee rejected the budget’s entire tax section, 31 votes to 3, so debate restarts Tuesday from the government’s original text.
Each measure must pass again there, then clear the Senate.
France is not alone in eyeing crypto wealth. Britain’s tax agency now runs a billionaire compliance push and receives crypto exchange data from 2027. The EU has published a $23 billion tax forecast for crypto.

Bank stocks fell across the US, Europe, and Singapore this week after the 10-year US Treasury yield topped 5.35%, its highest since 2002. Higher yields cut the value of bonds banks already own.
That same squeeze helped bring down Silicon Valley Bank (SVB) in 2023. US lenders still carried $326.7 billion in paper losses on bonds at the end of June, before yields jumped again.
Why Rising Yields Push Bank Stocks Lower
Banks park large sums in government bonds. When new bonds pay more interest, older, lower-paying bonds lose resale value.
The Federal Deposit Insurance Corporation (FDIC), which insures US bank deposits, put those unrealized losses at $326.7 billion for the second quarter, per its report.
Yields have climbed since then. The 10-year yield hit its 24-year high on October 7.
Meanwhile, the Invesco KBW Bank ETF, a fund of large US lenders, is down about 13% from its August high, TradingView data shows.
Bank stocks daily charts of the Invesco KBW Bank ETF, the EURO STOXX 50, and Singapore’s Straits Times Index. Source: TradingView How Far the Bank Stocks Selloff Has Spread
On October 7, Europe’s main bank index fell 3.5%. Société Générale, Deutsche Bank, UniCredit, and Intesa Sanpaolo each lost more than 4%, Reuters reported.
European lenders face the same bond problem. Rising yields cut the value of their government debt holdings, while traders feared France’s debt strains could spread.
In Singapore, OCBC dropped 5.9% the same day after Citi cut its rating to sell. DBS and UOB also fell.
“increasingly about expectations and valuation rather than a deterioration in fundamentals,” AsiaOne reported, citing Jeffries analyst Joanna Cheah on Singapore banks.
Could Another SVB Collapse Happen?
Paper losses only become real when a bank must sell its bonds. SVB was forced to sell after customers tried to pull $42 billion in a single day. It failed within 48 hours.
"By the end of the day on March 9, $42 billion in deposits were withdrawn from SVB in 10 hours, or roughly $1 million every second.” – SVB CEO Greg Becker Senate testimony
— zerohedge (@zerohedge) May 15, 2023
Today’s numbers look different. KBW chief Tom Michaud said bond losses equal about 5% of bank capital, down from 19% in 2023, in his Q3 earnings outlook.
US deposits also grew for an eighth straight quarter through June, the FDIC said.
“The banking industry continued to maintain strong capital and liquidity levels,” said the FDIC in its Quarterly Banking Profile.
Still, Michaud said bond worries on KBW’s trading desk now resemble 2023. He warned the losses could slow some banks’ share buybacks.
Investors are also hoarding cash. Money market funds drew $166 billion in one week.
JPMorgan, Goldman Sachs, Citigroup, and Wells Fargo report results on October 13. Those numbers will show how much the bond slump has eaten into bank capital.

Avalanche founder Emin Gün Sirer argues that AI could uncover security flaws in the XRP Ledger. He says that threat deserves more attention than the fall of existing cryptography.
His warning arrives as the ledger faces renewed scrutiny over an emergency software update.
The debate on the threat AI poses for crypto is mostly just wankery.We will see AI exploit systems-level bugs far before ECDSA falls. We will see AI discover bugs in systems code, libraries and wallets that enable attackers to steal billions of dollars long before we have to…
— Emin Gün Sirer🔺⚔️ (@el33th4xor) October 9, 2026
AI Could Uncover Security Flaws in the XRP Ledger
AI-driven vulnerability discovery means using AI models to find software bugs that humans have missed. Attackers can exploit those bugs before developers patch them. Sirer argued on X that AI:
Will likely exploit system-level bugs well before ECDSA becomes obsolete.
In his view, advanced models could find flaws in blockchain software, libraries, and wallets that humans have overlooked.
That shifts the focus from future cryptographic breaks to the quality of code today.
He warned that attackers could use such bugs to steal billions before AI breaks widely used cryptography. That scenario would involve bugs the community has not yet detected.
Sirer did not identify any unpatched XRP Ledger vulnerability, however, nor did he demonstrate an AI attack on the network. His argument is a warning rather than a documented exploit.
Is the Industry Looking at the Wrong Threat?
The debate has divided crypto leaders:
Ethereum co-founder Vitalik Buterin recently warned that AI-driven mathematical discovery could threaten lattice-based cryptography within two years.
Cardano founder Charles Hoskinson called those concerns speculative and said math cannot back up such predictions.
Ethereum researcher Justin Drake has voiced concern that AI could eventually attack ECDSA, a widely used method for signing transactions.
Sirer admits that the cryptography threat cannot be fully dismissed. Still, he believes the community should focus first on software vulnerabilities that already exist.
The XRP Ledger context adds urgency. Developers rolled out an emergency software update on September 25, and the initial security fixes were released without source code.
The team promised to publish that code along with a technical retrospective.
xrpld 3.4.1 is being released with a Batch fix and stability improvements.We’re asking validators and node operators to upgrade as soon as possible. There has been no impact to mainnet, and no loss of funds.There is also a new fix amendment, fixBatchV1_2, which addresses a… pic.twitter.com/anvZzzghJo
— XRP Ledger Operations (@XRPLOperations) September 25, 2026
Earlier, Ripple CEO Brad Garlinghouse criticized Sirer over claims about Ripple’s traction with banks. Sirer’s comments reframe the debate around software security rather than cryptography alone.

The AI boom has driven the 2026 stock market, but the S&P 500’s best performer so far this year is not a chipmaker. It is a COVID vaccine maker, up 663% after closing at $225 on Friday.
That lead rests on a cancer vaccine trial whose detailed results have not been released. In mid-August, the company’s shares were still down nearly 90% from their pandemic peak.
How Moderna Stock Climbed Past Every AI Name
The company is Moderna (MRNA), best known for its COVID shot. On August 19, it and drugmaker Merck said their experimental cancer vaccine had passed a final-stage trial in skin cancer patients.
The news landed after a rough stretch. COVID vaccine sales had collapsed, and Moderna cut more than 800 jobs last year.
Shares closed up 177% that day, then fell 24% the next, according to the Inquirer. BeInCrypto had already flagged Moderna’s 2026 comeback in June, when the stock was up 125% on a flu vaccine approval.
On Friday, the gains extended, with Moderna rejoining the Nasdaq-100, an index of Nasdaq’s largest non-financial companies.
BREAKING: $MRNA is up +8% today as it joins the Nasdaq-100, and it is now the best performing S&P 500 stock of 2026, up +620%.$10,000 invested in Moderna at the start of 2026 is now worth over $72,000. pic.twitter.com/HtvNt63g9L
— Bull Theory (@BullTheoryio) October 9, 2026
More than 200 funds holding over $800 billion track it, Nasdaq said, so they had to buy the shares.
The same day, The New York Times reported a COVID-style national cancer vaccine push, expected to launch in December. Moderna closed 14% higher.
Moderna Stock Performance. Source: Yahoo Finance
AI names sit just behind. SanDisk, which sells memory chips to AI data centers, is up 566% this year, riding AI memory chip demand. The S&P 500 has gained about 14%.
October Is Critical For Moderna Stock Price
So far, Moderna and Merck have said the vaccine worked but have not shown how well. Investors get the full numbers on October 24, at a major cancer conference in Madrid.
“It provides proof of principle that personalised cancer vaccines work,” Marco Gerlinger, a professor at Barts Cancer Institute, told the Pharmaceutical Journal.
Notably, not every investor is buying the rally. Martin Shkreli, a former drug company executive, gives the Moderna stock bubble up to six months to burst.
moderna $MRNA is a great short if you can tough it out and wait 6 months
— Martin Shkreli (@MartinShkreli) October 9, 2026
Moderna is now worth about $89.8 billion, and rivals BioNTech and Genentech are testing a cancer vaccine of their own.

Three small bets that Katie Zacharia would become Trump’s press secretary went in before the news broke. Kalshi is now investigating the trades, which risked under $175 and could pay more than $9,500.
Zacharia was not seen as a front-runner. In the days before President Donald Trump named her on Friday, bettors on Kalshi gave her about a 1% chance.
Bets on Who will be Trump’s next Press Secretary. Source: Kalshi How Did Bets on a 1% Trump Press Secretary Pick Land Early?
Kalshi is a prediction market regulated by the Commodity Futures Trading Commission (CFTC). Users buy contracts on real-world events. Each contract pays $1 if the event happens, so a 1% chance costs about 1 cent.
The first bet, for $19, went in around 10:43 p.m. ET on Thursday. That’s according to a Journal review of public Kalshi data. It is set to pay $1,896.
Two more bets, of about $74 and $80, followed at around 1:41 p.m. on Friday. They are set to pay $3,689 and $4,023.
About 20 minutes later, The New York Times and other outlets began reporting the pick. Trump then confirmed it on Truth Social.
"It is my Great Honor to have just appointed, as Press Secretary, Katie Zacharia… I am confident that Katie will deliver strong results for our Country as the next White House Press Secretary, as she has the respect of, and will work fantastically with, the Media, the American… pic.twitter.com/e2oov57i7J
— The White House (@WhiteHouse) October 9, 2026
Kalshi doesn’t show traders’ names publicly, but it keeps records of who placed each bet.
Is Kalshi’s White House Problem Growing?
Zacharia is an attorney and a regular commentator on Fox News and Newsmax. She advises Trump Media & Technology Group, the company that runs Truth Social, on communications. She replaces Karoline Leavitt.
“Serving President Trump and the American people at this critical 250-year mark is the honor of a lifetime,” Zacharia wrote after Trump’s announcement.
Notably, this is not Kalshi’s first case tied to the White House. In August, Trump’s teleprompter operator, Gabriel Perez, settled with the CFTC over bets on the president’s speeches. He handed back $107,539, paid a $65,000 penalty, and accepted a three-year trading ban.
Earlier, a run of well-timed bets on the Iran war prompted a White House memo. It warned staff against using nonpublic information for private gain.
Lawmakers also opened a separate insider trading probe last month into three other platforms. Kalshi has not said where its Zacharia review could lead.

Veteran trader Peter Brandt has warned that gold price could face a sharp decline after spotting a bearish pattern on its weekly chart.
The pattern, known as head-and-shoulders, often appears when an asset’s strong rally begins to lose momentum. It forms three peaks, with the middle one being the highest.
Gold Price Chart Points to a Major Risk
Brandt’s chart suggests that gold could fall toward $2,890 if it breaks below the key $4,100–$4,200 support zone. Such a move would signal that sellers are gaining control.
However, he stressed that the chart is not a price forecast, and the decline is far from certain. Continued gold purchases by China’s central bank could also help support prices.
This is NOT a prediction, but stranger things have happened over my five decades$GC_F $XAU pic.twitter.com/cEM0xN6VqM
— The Factor Report (@PeterLBrandt) October 9, 2026
That level sits far below current prices, so the move would be dramatic. Traders often wait for a close below the neckline before acting.
Investors should weigh the chart against broader market conditions rather than rely on one pattern alone. That approach matters because markets rarely follow textbook patterns.
Can China’s buying offset a deeper gold correction?
Gold traded near $4,194 an ounce on October 10, about 22% below its January record near $5,405.
The metal rose modestly after Friday’s gains but remains down about 4% so far this year. Gold has traded in a wide range as investors reassess US interest rate expectations.
#Commodities: #Gold trades near USD 4,200, recovering from a challenging week that saw prices fall to a two-month low as bond yields surged to fresh multi-year highs. The rebound has been supported by a recovery in US Treasuries following a well-received 30-year bond auction,… pic.twitter.com/NXRvJrILOU
— Ole S Hansen (@Ole_S_Hansen) October 9, 2026
Even so, the People’s Bank of China added 740,000 ounces that month, its largest purchase since 2023. That buying has continued for 23 straight months.
BeInCrypto also reported that 2026 is on track to become gold’s most volatile year since 1982. Shifting Federal Reserve rate expectations and rising Treasury yields drive much of that swing.
Brandt’s chart raises the possibility of a deeper correction. Central bank demand, however, continues to offer fundamental support.
Investors will watch whether the neckline holds in coming weeks. Whether the pattern resolves lower or fails remains an open question.

Investors pulled $56.1 million from US spot Ethereum ETFs on October 9. The ninth straight day of withdrawals came entirely from BlackRock’s fund.
These funds let investors own ETH through an ordinary brokerage account. Since September 29, they have shed about $697 million, erasing most of the $850.8 million they drew in the seven sessions before.
Ethereum ETF Outflows Match June’s 9-Day Run
The streak now equals a nine-day run of withdrawals from June 17 to June 30, according to BeInCrypto’s Ethereum ETF streak coverage.
Total assets across the funds stand at $15.71 billion, per SoSoValue. That is down from nearly $17.9 billion in late September.
Ethereum ETF outflows daily chart showing nine red sessions, Source: SoSoValue
Meanwhile, ETH trades at $2,496, little changed over 24 hours, according to BeInCrypto’s Ethereum price data. It held $2,715.50 on October 2.
Bitcoin (BTC) funds moved the other way on Friday, taking in $21.13 million. However, that followed a $729 million exit across October 7 and 8.
Bitcoin Spot ETFs See $21.13M in Net Inflows; Ethereum ETFs Post Ninth Consecutive Day of Outflows on Oct. 9 (ET)According to SoSoValue data, U.S. spot Bitcoin ETFs recorded $21.13 million in net inflows on October 9 (ET), with BlackRock’s IBIT attracting $22.38 million and… pic.twitter.com/B6JfmqMiPj
— Wu Blockchain (@WuBlockchain) October 10, 2026
The retreat from ETH also showed up on Binance. Customers there cut 183,602 ETH in September while adding Bitcoin.
$5 Billion in Ethereum Shorts Sit Above the Price
Even as institutional capital pulls out of Ethereum financial instruments, derivatives traders are piling into bets that ETH will fall. These bets, called shorts, are often made with borrowed money.
“Most of the ETH downside liquidity has been taken out for now. Now there are $5 Billion in shorts vs. $1.53 Billion in longs. The only concern is weakening spot demand for Ethereum, which is still making a strong case for more correction,” analyst Ted Pillows noted.
Forced closures of shorts require buying ETH. A wave of them can push the price higher, potentially causing a short squeeze.
Earlier this week, Pillows flagged $2,547 to $2,565 as support, warning a break could open a slide toward $2,190. ETH has since slipped below that zone.
Friday’s data leaves ETF buyers absent and short sellers crowded overhead. Monday’s flow figures will show whether the streak reaches a 10th day.