BeInCrypto TH

In brief
The US stock market lost $2 trillion in value, with major companies falling by as much as 36% in a single week
Disappointing earnings, high AI spending, and negative free cash flow at Google and Amazon are fueling concerns about an AI bubble in the United States

In Brief
HYPE, LEO, and WBT remain near their all-time highs, despite a broader crypto market sell-off following the Binance hack
HYPE could surge to USD104, while LEO may retest its previous all-time high of USD10.43 if it breaks through key resistance
WBT faces downward pressure and could recover to USD 86 or fall further to USD 65 if support fails

In brief
7 Wall Street firms cut their Coinbase price targets after Q4 trading fees hit 165 million USD
Barclays cut its price target to a low of 120 USD, 25% below Thursday’s closing price of 160.59 USD
Coinbase’s own July figures had previously fallen short of the target set at the start of the quarter

In brief
CFTC Chair Michael Selig proposes a voluntary option for crypto exchanges to register at the federal level
Binance lost over $6 billion in just 20 minutes, according to TRM Labs
This option protects customer funds, but it is voluntary and does not cover foreign exchanges

In brief
Bitcoin continues to fall after the $6.3 billion Binance hack
Charles Edwards says he has no Bitcoin after the data breach
Two other lawmakers see the hack differently
Read the original story, Why a New Bitcoin High Seems Far Away After the Binance Hack, by Jakub Dziadkowiec at th.beincrypto.com

In brief
Coinbase gives Hyperliquid 90% of the interest on $6 billion in USD deposits, according to Grayscale
Revenue helped Hyperliquid make $105 million in September despite the sluggish crypto market
Grayscale’s report did not specify what Coinbase would receive in return

In brief
Gold prices fall below USD 3,900 per ounce, their lowest level of 2026 and around 30% below the January peak
A strong US economy and steady inflation bolster expectations of a Fed rate hike in December, even as the Fed holds interest rates steady

In brief
AstraZeneca generated USD 16.21 billion in third-quarter revenue, beating Wall Street estimates
The new restructuring plan targets annual savings of USD 1.5 billion by 2029
Will AI make it easier for pharmaceutical companies to reach USD 80 billion in revenue?

In brief
Blackstone expects Anthropic to receive a junk credit rating after its IPO
Lenders hold the riskiest debt in Anthropic’s $9 billion chip deal
SpaceX gets investment-grade rating after IPO, but Anthropic may not
Read the original story, “Wall Street raises major doubts about Anthropic’s $800 billion AI bet,” by Lockridge Okoth at th.beincrypto.com

In brief
Tether’s USD 7.95 billion USDT cushion is now smaller than its USD 8.37 billion Bitcoin holdings
Operating profit reached USD 4.5 billion, but verified reserves increased by only USD 1.66 billion
A simultaneous 29% drop in gold and Bitcoin would wipe out the entire cushion

In brief
Deutsche Bank says an AI stock sell-off could also drag the USD lower.
Nearly 90% of the more than USD 20 trillion in U.S. stocks held by foreigners comes from price gains.
On Friday, the USD held steady while stocks, gold, and Bitcoin fell. Will this situation last?

In brief
Elon Musk says Terafab is making good progress
Suppliers from Korea replied within an hour, even during the morning in the United States
Terafab, Tesla and SpaceX's chip factory in Texas, is valued at up to USD 119 billion

In brief
Intel shares fell 29% on Friday, wiping out over USD 100 billion in market value
The chipmaker forecasts Q4 revenue about USD 1.57 billion below Wall Street estimates
The AI boom is driving Intel’s server business but hurting its PC business in the U.S.

In brief
Neuralink demos a Grok agent controlled by thought and voice relayed into an iPhone call
ARK Venture holds Neuralink shares, but ARK says it is not yet open to foreign investors
PreStocks’ Neuralink token represents no shares or shareholder rights and trades thinly

In brief
South Africa’s crypto economy grew 52% to USD 39.3 billion despite the bear market
One asset is now equivalent to Bitcoin in the region’s peer-to-peer transfers
South Africa’s central bank revises draft restrictions on cross-border crypto transfers

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CZ said Binance lost about USD 2 billion after a USD 6.3 billion hack
He pointed to more than USD 1 billion worth of SpaceX shares from the 2022 Twitter bet
Lockup rules and scheduled SPCX price adjustments determine whether that stake can be sold

In brief
Shiba Inu Team Warns of Caution After USD 20 Million in Liquidations
Longs lost more than USD 12.9 million, but still outnumber shorts by 2.71 times
A net 92 billion SHIB flowed onto exchanges
Read the original story: Shiba Inu Team Warns Traders to Be Cautious After USD 20 Million Liquidation Wave, by Phil Haunhorst at th.beincrypto.com

In brief
WTI crude hits USD 106.2 after Iran reveals that mines attacked four vessels near the Strait of Hormuz
CENTCOM chief Adm. Brad Cooper reports that he briefed Trump on military options against Iran
Polymarket puts the odds of the U.S.-Iran ceasefire deal surviving through the midterms at 83%