This week was a damn mess. The Democrats won the U.S. midterm elections, and the Nasdaq plunged 5.5% in a single day, wiping $1 trillion off the market cap of the Magnificent Seven. Institutions first cleared out their positions, then all turned bullish together—the pace was just too fast.
The attack chain behind that $6.34 billion Binance theft has also come to light, and CZ admitted that they hadn’t invested enough in security. Ethereum fees are now down to just a few cents, but it’s actually become net inflationary.
On the AI front, Anthropic’s revenue may have surged 1,127%, but it’s still losing money. CoreWeave’s GPU-collateral flywheel is also starting to run into trouble. This market is giving me a headache.
$ETH
$BTC
#Ethereum
#SecurityIncident
The attack chain behind that $6.34 billion Binance theft has also come to light, and CZ admitted that they hadn’t invested enough in security. Ethereum fees are now down to just a few cents, but it’s actually become net inflationary.
On the AI front, Anthropic’s revenue may have surged 1,127%, but it’s still losing money. CoreWeave’s GPU-collateral flywheel is also starting to run into trouble. This market is giving me a headache.
$ETH
$BTC
#Ethereum
#SecurityIncident
