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Technical analyst Eric Crown holds no altcoins at all and says the overwhelming majority of them are worth nothing, a share he puts at more than 99.9%.
Crown made the argument on the BeInCrypto podcast. He also dismissed the chart most traders use to time altcoin rallies.
Why One Analyst Quit Altcoins Entirely
Crown set out his position in an interview with BeInCrypto, where altcoin exposure came up directly.
“No, I don’t hold any altcoins.”
Bitcoin (BTC) and traditional markets make up his book instead. BTC trades near $77,207 after a 1.24% daily decline.
Crown put the failure rate at 99.999%, repeating to infinity, based on what he has watched over multiple cycles. A handful of exceptions exist, in his view, but they stay rare.
“Most people would be better off just buying boring stuff that compounds year-over-year and not trying to overthink it.”
The Dominance Chart He Ignores
That position rests partly on a metric Crown considers broken. Traders watch dominance to judge whether capital is rotating out of Bitcoin, and he argues it failed that job for three straight years.
“I see so many people obsessed with the Bitcoin dominance chart and I just… I don’t understand it.”
Eric Crown’s monthly Bitcoin dominance chart, annotated to show dominance rising from roughly 38% in early 2023 to 66% in mid-2025 / Source: YouTube
“We saw all throughout 2022 to 2025, the Bitcoin dominance chart went to the moon. It was just straight up, straight up, straight up, straight up. But what did we have during that time? We saw the meme coin cycle.”
Dog-themed tokens and AI tokens both delivered outsized returns inside that window. Dominance climbed anyway, peaking near 66% in mid-2025 before stalling around 60%.
The construction adds to his skepticism. Dominance measures Bitcoin’s market value against every other token, and new tokens launch constantly while Bitcoin’s supply stays fixed. Therefore, the denominator inflates whether or not altseason arrives.
What He Watches Instead
His replacement screen runs in two steps rather than one.
“You should be looking at your favorite shitcoin versus first the dollar… and then look at your favorite shitcoin versus its Bitcoin pairing to figure out if it’s actually outpacing Bitcoin.”
The second step matters, because a rising dollar chart may only reflect a broader Bitcoin rally. Crown named Hyperliquid (HYPE) among a small group performing strongly, and HYPE now sits 11th by market value near $79.61.
HYPE/BTC and HYPE/USDT daily chart / Source: Tradingview
Macroeconomic forecasting gets the same treatment. Crown sees no edge in trading data releases without inside information, so he reads large-account positioning through price instead of narrative.
Broader participation could still revive the metric. Should most large caps begin clearing that second test, the ratio Crown dismisses may recover some value, a possibility other analysts continue to track closely.

Enflame stock soared more than 200% in its Shanghai trading debut on Friday. The listing completes the run of China’s four leading domestic AI chip startups.
The Tencent-backed company is building alternatives to Nvidia processors. It has yet to turn a profit.
Enflame Stock Jumps 200% as China’s AI Chip Startup Goes Public
Enflame set its issue price at 142.18 yuan and opened at 410 yuan, a 188% gain, SCMP reported. The stock then climbed as high as 475 yuan, or 234% above the offer.
Its initial retail offering drew orders for more than 6,000 times the shares on hand. Enflame then shifted more stock toward that group.
Its three peers all surged on listing. MetaX rose nearly 700% in December, Moore Threads gained over 400%, and Biren added 76% in January. Memory maker CXMT drew a similar reaction on the same exchange in July.
However, those debut levels have not held. Moore Threads trades about 42% down since its debut, while MetaX is down roughly 35%, according to Google Finance data.
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Nvidia Still Owns the Market Enflame Wants
International chipmakers led by Nvidia held nearly 60% of China’s AI accelerator market in 2025, according to IDC data cited by CNBC.
US export controls have curbed Nvidia’s exports to China’s compute market. Beijing has also shown little appetite for importing advanced foreign chips.
Domestic silicon is starting to carry real workloads. Z.ai said its GLM-5.3-Flash model runs entirely on China-made chips. Analysts believe the company used a mix of Huawei processors alongside parts from Enflame and other local suppliers.
Meanwhile, Enflame reported 990 million yuan, or about $147 million, in revenue for 2025. That was up from 722 million yuan a year earlier.
Proceeds will fund its fifth- and sixth-generation processors. The company wants those chips to match high-end products from international rivals. Goldman Sachs expects China’s semiconductor capital spending to reach $82 billion by 2030.
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Benjamin Cowen, the analyst behind Into The Cryptoverse, argues that weak social interest in crypto may reflect a structural reputation problem rather than a normal cyclical lull.
In a recent video comparing Bitcoin’s (BTC) current bull-versus-bear case to indicators from prior cycles, Cowen flagged persistently low Google Trends and Wikipedia search activity as one of the more troubling signals for bulls.
Reputation Risk Over Cyclical Dip
Cowen’s broader framework tallies bullish and bearish signals across on-chain, technical, and sentiment data to gauge whether Bitcoin’s cycle low has already formed. Social interest, he said, has kept falling even though prior bear markets bottomed alongside a rebound in search and app-store activity.
Bitcoin search traffic on Google over the past 12 months. Image Source: Google
Rather than assume search interest must eventually recover the way it has after past lows, Cowen raised a different possibility. He suggested the pattern could reflect lasting damage to how the public views the space.
“All it’s turned into recently is just memecoin griffs and scams.”
Gold as an Example Why it’s Not a Bad Thing
He speculated that gold’s social interest was similarly depressed in the early 2010s. However, this was before a multiyear bull run. He pointed to thematic exchange-traded funds (ETFs), which historically underperform for years after launch, arguing renewed public attention cannot be assumed on a fixed schedule.
Bitcoin Bull Case Vs. Bear Casehttps://t.co/j3OYX1uuJt
— Benjamin Cowen (@benjamincowen) September 9, 2026
The concern echoes a broader slide in crypto media engagement. Cowan includes a decline in crypto YouTube views that one creator said is now worse than during the 2018 bear market.
Cowen awarded points to both sides throughout the video. But, without giving a final score. He says the exercise is meant to sharpen judgment rather than call an exact bottom.
His own approach remains dollar-cost averaging (DCA) into Bitcoin during the back half of midterm-election years. This is an approach that echoes an earlier Cowen call for a Q4 Bitcoin bottom near $44,000.
Whether social interest stays depressed because of reputational damage, or simply needs more time to reset, remains unresolved. Cowen’s own indicator count leaves room for either outcome.

The US national average diesel price reached $6.00 a gallon for the first time on Thursday, according to live GasBuddy data. Diesel has set fresh all-time highs in 28 states.
The record arrived less than a week after diesel posted a $5.85 high. At $6.00, the fuel now costs roughly $2.30 more than it did a year ago.
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HISTORY: diesel has crossed $6/gal nationally for the first time ever, according to live GasBuddy data. every truck, every delivery, every package, every grocery run just got more expensive. the cost of moving everything in america just hit a record. Statement⬇️ (9/10/26, 3p CT) pic.twitter.com/zijqu6vD9i
— Patrick De Haan (@GasBuddyGuy) September 10, 2026
Diesel Records Topple Across 28 States
Patrick De Haan, head of petroleum analysis at GasBuddy, named the 28 states that set records. Texas, California, Florida, Washington, and North Carolina all made the list.
Meanwhile, 5 California stations have run out of room on the price board. De Haan said they are selling diesel at $9.999 a gallon, the highest figure their dispensers can display.
“Record diesel prices will impact every cargo, shipment, every delivery Americans are taking, and are likely to reignite inflation up and down the supply chain… I suggest Americans anticipate a costlier holiday season…” De Haan said.
The squeeze builds on a thin supply. The EIA put US diesel inventories at 106.3 million barrels, some 13% under the five-year average.
NEW: U.S. diesel prices have hit an ALL-TIME HIGH of $5.97/gallon.Remember: higher diesel prices mean higher delivery and heating costs. Your energy bill, your groceries, packages at your door— all of it will cost more.Donald Trump’s war with Iran did this.
— Elizabeth Warren (@SenWarren) September 10, 2026
Crude Above $100 Keeps the Pressure On
Crude is the main lever behind the move. Brent crossed $100 on September 8 and has climbed since. It surged to an intraday high near $111 today, its strongest level since late May.
At press time, Brent traded near $108.2 a barrel on Friday, up 0.61%. West Texas Intermediate added 0.53% to $103.
Oil Prices on Friday. Source: TradingEconomics
Both benchmarks are now on track to close the week above $100 for the first time since mid-May. They have recorded gains of over 20% in the past month.
Shipping routes explain much of the rally. Iran-aligned Houthis seized Yemen’s port of Mocha on Thursday, while tanker attacks have kept Strait of Hormuz traffic restricted.
BREAKING: Saudi Arabia says its crude oil production has fallen to its lowest level since 1990 amid the Iran War.Today, Saudi Arabia notified OPEC that its production declined by 1.9 million barrels per day, to a total of 6.2 million barrels per day.Provisional…
— The Kobeissi Letter (@KobeissiLetter) September 10, 2026
Demand forecasts are moving the other way. OPEC cut its 2026 world oil demand growth estimate to 380,000 barrels per day on Thursday, the fifth straight downward revision.
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Raydium (RAY) price surged to an 11-month high on Friday. This move was part of a 90% weekly rally, making it the second-strongest performer among the top 300 cryptocurrencies.
The Solana decentralized exchange (DEX) token gained ground while the wider crypto market slipped 3.9% over the same seven days, with Bitcoin (BTC), Ethereum (ETH), and XRP (XRP) all trading lower.
RAY Token Outruns a Falling Market
RAY ranks 117th by market capitalization and has added 14.67% in the past 24 hours alone. It touched an intra-day high of touched $1.75 today.
This marked its highest price since late October 2025. Only STONK (STONK) meme coin, up 1,220.8% this week, posted a bigger weekly gain across the top 300.
Most Solana ecosystem tokens followed the market lower this week, leaving RAY as the outlier.
Raydium (RAY) 7-day Price Chart. Source: BeInCrypto Markets
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3 Catalysts Behind the 90% Move
According to CoinGecko, 3 catalysts sit behind the latest rally. StonkFun said on September 6 that all new token deployments would run through Raydium’s LaunchLab.
The switch cut deployment costs to 0.03 SOL from 0.29 SOL. Raydium also upgraded LaunchLab this month.
Raydium then repurchased $640,788 of RAY on September 9. Messari data shows that it was the heaviest daily buyback since February 2025. The protocol routes 12% of fees towards RAY purchases.
Raydium buybacks recorded their highest level since February 2025.solana:4k3Dyjzvzp8eMZWUXbBCjEvwSkkk59S5iCNLY3QrkX6R pic.twitter.com/fHzjMlVe2s
— Messari by Blockworks (@MessariCrypto) September 9, 2026
Tokenized equities supplied the third stream. Backpack Securities listed Grindr’s GRND token on September 10, and it saw $11 million in trading volume in an hour.
More than 15 stock tokens, including Boeing, Costco, and Roblox, also went live through Backpack and Sunrise this week.
Buybacks scale with fee revenue, and fee revenue scales with volume. The open question is whether StonkFun’s launch flow and stock-token trading hold up once the speculative burst around them cools.
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Bitcoin (BTC) exchange-traded funds saw a $282.6 million outflow on September 10, marking their third consecutive outflow session. XRP (XRP) funds took in money for a third straight day over the same stretch.
The split shows how differently investors are treating the two products. XRP funds have posted one negative day over their past 20 sessions, while Bitcoin flows continue to swing between heavy buying and heavy selling.
Bitcoin ETF Assets Slide Back Under $98 Billion
Bitcoin funds have handed back $449.4 million across the three sessions, according to SoSoValue. Total net assets fell to $97.49 billion, down from $101.3 billion on September 4.
Cumulative net inflows still sit at $55.17 billion, so the recent selling barely dents the overall picture. However, the pace of the reversal stands out.
The pressure spread to other majors. Ethereum (ETH) products shed $29.8 million on September 10, while Solana (SOL) funds lost $482,547.
Bitcoin’s record over the period reads erratic rather than uniformly weak. The same funds absorbed $730.9 million on September 3, the highest daily inflow since January 14, 2026.
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XRP Funds Keep Buying While the Price Falls
XRP tells a steadier story. The funds have recorded a single outflow day in their past 20 sessions, a $7.2 million exit on September 2, and collected $190.5 million overall during that run.
Bitcoin logged seven negative days across the same window. Ethereum posted three and Solana four, so XRP’s consistency stands out among the larger crypto ETFs.
Meanwhile, the buying held even as the token weakened. XRP traded near $1.36 on September 10 after falling roughly 2.8% on the day.
Cumulative XRP ETF inflows have reached $1.70 billion since launch, with combined net assets of $1.45 billion.
US Spot Crypto ETF Net Flows, September 8 to 10, 2026. Source: SoSoValue/BeInCrypto
Smaller products joined in. Chainlink (LINK) ETFs added $4.3 million, and Polkadot (DOT) took $663,057, its first daily inflow since June 8.
The coming sessions will test whether XRP’s drip of buying reflects a distinct, patient holder base or simply a quieter version of Bitcoin’s swings.
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Senator Cynthia Lummis said the updated Clarity Act text carries more than 100 changes that Democrats requested. She urged them to help pass the bill.
Senate Republicans released an updated CLARITY Act text that runs 630 pages, 14 more than the July 22 draft. A procedural vote, now four days later, decides whether the bill reaches the Senate floor.
This updated Clarity Act text reflects bipartisan hard work over August—specifying when decentralized-in-name-only DeFi protocols must register with the CFTC and limiting the DeFi provisions to spot and cash transactions, in response to Native American concerns about prediction…
— Senator Cynthia Lummis (@SenLummis) September 10, 2026
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What Changed in the Clarity Act’s September 10 Draft Text
The bill still runs four divisions and 103 sections. What changed is buried inside roughly a dozen of them, all in the Banking and Agriculture titles.
BeInCrypto compared the two Senate substitute texts line by line. The September draft differs from the July draft in 14 of its 103 sections. Those sections contain 104 discrete edits, though only 28 exceed 8 words.
The heavy lifting is in Section 20209, the DeFi safe harbor, which balloons from 285 words to about 2,200. Validators, node operators, and anyone publishing wallet software get a full carve-out from the Commodity Exchange Act.
Front-ends, governance systems, liquidity pools, and the upkeep of that wallet software are shielded only from spot-market rules.
CLARITY Act Redline Showing July 22 and September 10 Draft Changes by Division and Section. Source: BeInCrypto
For “decentralized-in-name-only” protocols, the CFTC must write rules on how controllers comply, a mandate rather than an automatic registration trigger, and the code itself is never required to register. Treasury then writes matching anti-money-laundering rules for whoever the CFTC pulls in.
The quieter story sits in the preemption clause. State securities, commodities, and digital asset law no longer applies to those activities, and the section applies to conduct before enactment. State fraud, manipulation, and AML powers survive, so the fight moves to where licensing ends, and fraud begins.
Division C, the ethics title Democrats want changed, is untouched
What Republicans Left Alone, and Who Is Still Voting No
The smaller edits sit outside the DeFi title. Credit unions get a clearer footing, keyed to definitions from the GENIUS Act, though the text stops short of expanding their authority into brokerage or dealing.
CFTC spot oversight now covers every payment stablecoin rather than only those from licensed issuers. The bill reaches transactions on or through an entity registered with the Commission. States also keep their fraud-enforcement powers against registrants under Section 20207.
The ethics title is not the only thing Republicans left alone. Section 10404, which bars yield on payment stablecoins, is identical to the July version. So is Section 10604, the developer protections known as the Blockchain Regulatory Certainty Act.
Those two carry substantial opposition. The American Bankers Association and 60 other banking groups asked Senate leaders to tighten the rewards rules. They warned of deposit flight from community banks.
Republican Senators Josh Hawley and Jerry Moran have raised concerns about that. Democrats, meanwhile, have tied their support to stronger ethics terms covering President Donald Trump’s crypto holdings.
Senators vote Tuesday afternoon on whether to invoke cloture on the motion to proceed. 60 votes are needed.
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Mad Money host Jim Cramer says the 30-year Treasury, not company fundamentals, is now the single force driving stock prices. He points to a yield near 5.3% squeezing housing, borrowing costs, and equity valuations.
Cramer recalled a lesson from his early Goldman Sachs days. An instructor corrected his fundamentals-based take on Delta Air Lines by pointing to the long bond instead.
Why the Long Bond Now Overrides Fundamentals
Cramer argued a government-backed 5.3% yield gives investors a safer alternative to stocks. That pressure is already forcing capital-intensive sectors, like airlines, to compete for funding.
“The long bond, the 30-year Treasury, is in charge of everything.”
— Jim Cramer, CNBC
Cramer’s warning echoes a pattern already seen this year. In August, bond stress hit Asia, pushing investors toward Bitcoin and gold.
A similar dynamic emerged in late August. BeInCrypto reported on a dangerous September pattern linking bonds, stocks, and Bitcoin.
Housing and Treasury Supply Add to the Squeeze
Higher long-term rates are hitting housing directly. Cramer noted mortgage rates breached 7%, discouraging new listings and pricing out buyers.
Housing touches nearly every part of the economy, from materials and wages to retail spending. Cramer said that ripple effect makes the sector especially sensitive to rate moves.
Cramer also criticized the scale of Treasury issuance. He noted roughly $4.5 trillion in long bonds are outstanding.
That dwarfs the government’s buyback program, which he called too small to move yields. He also flagged proposed stimulus checks as a further drag on the deficit.
That concern echoes recent BeInCrypto coverage of how rates threaten GOP turnout ahead of the midterms.
For investors over 50, Cramer said Treasuries now beat lower-yielding stocks. Younger investors, he added, can still afford to hold riskier growth names.
With oil prices still elevated, Cramer said energy costs and Treasury yields will keep dictating which sectors suffer first. Airlines, he suggested, remain the most exposed.

Coinbase CEO Brian Armstrong still expects Bitcoin (BTC) to reach $400,000 by 2030, a target that now demands a 420% rally from roughly $76,930.
The forecast arrives during a volatile stretch for Bitcoin. The largest cryptocurrency has fallen 5.4% over the past 7 days and sits about 39% below its October 2025 record of over $126,000.
Bitcoin (BTC) 7-day Price Performance. Source: BeInCrypto Markets Armstrong Reads the Clock, Not the Chart
In an interview with CNBC, Armstrong explained that Bitcoin moves through four-year cycles of run-up, euphoria, and decline. Most down periods last roughly a year, and this one has just passed that mark.
“Most of the down periods last about a year, and we have actually just come across the 1-year mark for this down period, so I personally believe that the bottom is in on BTC in its most recent cycle,” he said.
He flagged two key events. According to him, traders will watch the CLARITY Act, which faces a procedural vote in the Senate on September 15.
The second is the next halving, about 18-19 months away. Armstrong expects the usual run-up ahead of it.
“I think the next year or two is going to be good for Bitcoin,” he added.
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The Front-Running Trade Does the Heavy Lifting
Analyst Jesse Myers sees the same clock. He noted that Bitcoin rallied roughly 100x after the 2012 halving, 30x after the 2016 halving, and 8x after the 2020 halving, before traders began front-running the event in 2024.
“If the same pattern plays out this cycle, the next 1.6 years could be the most explosive time for BTC,” Myers wrote.
Repeating the last cycle would carry Bitcoin 4x from its $58,000 bottom to $232,000 by the April 2028 halving, then 2x to $464,000 in the second half of 2029. That path clears Armstrong’s number with room to spare.
Bitcoin Demand Has Not Caught Up Yet
Nonetheless, those projections rest on a market that is not buying Bitcoin right now. The 90-day cumulative volume delta for spot markets sits neutral, with futures traders driving the recent rebound.
Institutional flows now look shakier, too. US spot Bitcoin exchange-traded funds (ETFs) pulled in $986.9 million in the week ended September 4, extending a three-week run worth about $3.8 billion.
Weekly Total Bitcoin Spot ETF Net Flows. Source: SoSoValue
That streak is under threat. The current week shows $166.9 million in net outflows. Another negative print would snap the three-week run.
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Wharton School finance professor Jeremy Siegel said he expects the Federal Reserve to raise interest rates next week, as oil prices and long-term bond yields keep climbing.
Siegel told CNBC’s “Closing Bell” that holding rates steady would risk the credibility of Fed Chair Kevin Warsh, who took over the central bank in May 2026.
Fed’s Warsh Faces a Credibility Test
Siegel said financial markets routinely test new Fed chairs, and called next week’s meeting that test for Warsh. Even so, he said, President Donald Trump has pushed publicly for lower rates.
“I think he’s going to bite the bullet and raise rates because if he doesn’t raise rates, I think there might be four or five or maybe six dissents, which would be unprecedented,” Siegel said.
He pointed to Fed Governor Christopher Waller’s inflation threshold. A monthly core reading near 0.2% could support a hold, Siegel said. A 0.3% print, he added, would tilt the committee toward a hike.
Warsh’s hawkish Jackson Hole speech last month already pushed hike odds higher. The 10-year Treasury yield has since climbed toward 4.90%, its highest level since 2023. Brent crude, meanwhile, has pushed past $100 a barrel.
Fresh inflation data lands just before the Fed meets. Siegel said this week’s consumer price index report could still shift the committee’s thinking either way.
A Selloff, Then a Recovery
Siegel predicted markets would react sharply and sell off immediately after a hike announcement. He then expects long-term bonds to rally as investors view the Fed as credible on inflation, lifting stocks in turn.
Rising energy costs remain the bigger near-term risk to sentiment, Siegel said. Gasoline futures could climb another 20 to 30 cents, pressuring consumers this fall.
Siegel expects stocks to stay rangebound over the next few weeks. He pointed to the next earnings cycle, once the quarter closes, as the market’s following catalyst.

IREN Limited (IREN) shares fell 3.3% on Thursday to $43.87, even as co-CEO Daniel Roberts told investors the company had just passed its hardest operational test.
Roberts published a readout from two days of investor meetings at Goldman Sachs’ technology conference in San Francisco. He said the market has stopped paying for contract announcements and now wants delivered capacity.
Why Mega-Deal Headlines Stopped Working
IREN started as a Bitcoin miner, but it now builds data centers and rents the computing power inside them to companies training AI models, a shift that has lifted several miner stocks this year.
IREN Stock Performance. Source: Yahoo Finance
Roberts said in an X post that investors have grown numb to deals worth $20 billion to $40 billion. For customers, such contracts are a cheap option on capacity. For young providers, they are a way to raise money. Neither guarantees anything gets built.
The question he called the fairest of the week was whether IREN can run a cloud business at scale, not simply pour concrete.
Goldman's CommTech conference, San Francisco. 48 hours of @IREN_Ltd investor meetings, and the mood has shifted meaningfully.Key takeaways:
— Daniel Roberts (@danroberts0101) September 10, 2026
The $1 Billion Question Behind the Drop
IREN booked $70.5 million of AI cloud revenue in the June quarter. It also claims roughly $1 billion of operating annualized run rate, meaning the revenue current contracts would produce over a full year.
A further $4 billion is contracted for 2026 capacity. None of that lands in reported revenue until sites switch on and customers formally accept them.
“The biggest debate on our stock: the gap between $71m of quarterly AI Cloud revenue and $1bn of ARR operating, $4bn contracted for year end. Is it real, and will we deliver? Some disappointment with last quarter traces to ramp assumptions that ran ahead of anything we guided. That’s on us to manage better. Specific sites, tighter windows,” Roberts noted.
Microsoft accepted the first block, a 50 megawatt site called Horizon 1, in August under a $9.7 billion five year agreement. Three more are due before year end.
Meanwhile, ten analysts still carry an average target of $75.67, roughly 72% above Thursday’s price.
IREN (IREN) Stock Forecast & Price Target. Source: TipRanks
BeInCrypto flagged $47 in July as the level IREN had to reclaim to confirm the AI trade. The stock ran to $45.37 on Thursday morning and faded, leaving that ceiling untouched two months later.

Republican officials are struggling to address rising borrowing costs and interest rates as the 10-year Treasury yield holds near a three-year high, just weeks before the November midterms.
President Donald Trump spoke at the Republican National Committee’s (RNC) midterm convention in Dallas this week. He promised a $5,000 payment to every American adult if Republicans keep the House and Senate.
Why Rising Rates Are Becoming a Midterm Problem
The 10-year Treasury yield is trading near 4.85%, its highest level since 2023. That is pressuring mortgage, auto loan, and credit card rates nationwide, as yields hit multi-year highs this month.
Rising oil prices and mounting fiscal deficits are among the factors keeping yields elevated. Foreign buyers reducing Treasury purchases add further pressure heading into the Federal Reserve’s next policy meeting.
Total US government debt surpassed $40 trillion for the first time this year. It now sits at $40.1 trillion, up $2.67 trillion from a year ago, deepening the same borrowing cost pressure many households already feel.
Republicans Tread Carefully Around Trump
At the RNC’s midterm convention in Dallas, speakers largely avoided criticizing Trump directly over rate concerns. Bloomberg’s Josh Wingrove reported the dynamic firsthand.
Some Republicans, however, blamed past migration policy for housing costs or promised unspecified healthcare savings.
Florida Governor Ron DeSantis pushed back on the dividend plan on Thursday. He said it would deepen debt and inflation.
It signals unease even among Trump allies over the plan’s fiscal cost.
Trump’s national approval rating has slipped to roughly 38%, according to poll aggregator Silver Bulletin. Republicans also face a tightening Texas Senate race, per BeInCrypto’s midterm odds coverage.
Trump has urged supporters to vote as if he were on the ballot himself. He remains wary of turnout without his name at the top, in a midterm cycle where Republicans have historically struggled.
Whether rising rates complicate that pitch further should become clearer as more polling and convention coverage arrive in coming weeks.

FTX co-founder Sam Bankman-Fried (SBF) asked the US Supreme Court on Thursday to review his 2023 fraud conviction and 25-year sentence, the last legal door left open to him.
His lawyer, Stanford law professor Jeffrey Fisher, confirmed the filing. The justices are free to refuse it without hearing a word of argument.
What SBF is Asking the Justices to Do
The filing seeks a writ of certiorari. That is a request for the court to agree to hear a case, not a hearing itself. Bloomberg reported the news, but it had not appeared on the court’s public docket at the time of writing.
A jury convicted Bankman-Fried in November 2023 over the collapse of FTX and Alameda Research. Judge Lewis Kaplan imposed a 25-year sentence and a $11 billion forfeiture the following March.
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Why the June Ruling Left So Little Room
The Second Circuit Court of Appeals rejected his appeal on June 12. Circuit Judge Barrington Parker wrote that the trial judge was right to exclude evidence that FTX could have repaid its customers.
“FTX customers were defrauded as soon as Bankman-Fried transferred their money to Alameda regardless of how strongly he believed he might later return the money,” Aljazeera reported.
BeInCrypto flagged the deadline in August, when the Second Circuit mandate issued and left a 90-day window for a Supreme Court petition. Thursday’s filing lands inside it.
What It Means for FTX Creditors
Nothing in this petition touches the money. The bankruptcy estate runs separately from the criminal case, and FTX creditor repayments continue regardless of what the justices decide.
That separation matters to his argument. Many customer classes have recovered their full claims valued at November 2022 prices, yet the appeals court held that later repayment does not erase the original deception.
The court receives several thousand petitions each term and grants only a low single-digit share. Most refusals arrive as one line on an order list, months later, with no reasoning attached.
His pending pardon application is the other track, and it has not moved either.
Odds of SBF Pardon in 2026. Source: Polymarket
Polymarket traders now price a 2% chance he walks free in 2026, down from 7% when he filed for clemency in June.

Analyst Ben Cowen warns a looming Anthropic initial public offering (IPO) could drain attention from Bitcoin (BTC). He says the asset is already fighting to extend its recent rebound.
The Into The Cryptoverse founder pointed to Bitcoin’s pullback ahead of SpaceX’s June listing as a precedent. He argued a similar rotation into artificial intelligence (AI) stocks could repeat.
Anthropic’s IPO Echoes the SpaceX Playbook
Anthropic, the AI company behind the Claude chatbot, confidentially filed IPO paperwork in June. It is reportedly targeting a listing window as early as this fall. Some estimates value the company near $2 trillion.
Cowen argued a similar dynamic hit Bitcoin before SpaceX went public. He said the asset sold off in the weeks before that listing as investor interest shifted toward AI-linked equities.
“We now have the anthropic IPO coming up probably in a month or two.”
Cowen made the comment in the same video where he tallies Bitcoin’s bull and bear signals. That scorecard includes his $53,000 realized price warning, a level he has flagged before.
Bitcoin’s Rally is Stalling
Bitcoin traded near $76,966, down 1.73% over the past 24 hours, according to BeInCrypto data. Banks are also pushing Anthropic and OpenAI toward investment grade credit ratings ahead of their IPOs. That effort signals how close Wall Street believes the listings are.
Bitcoin has broken through to near $83,000 since its August Rally, but the asset has struggled to stay above the $80,000 in recent weeks.
Cowen’s broader point is that momentum is finite. If retail and institutional attention concentrates on AI listings this fall, Bitcoin could lose momentum. A sustained rally typically needs that same speculative interest.
Whether that rotation happens may depend on how close Anthropic’s listing lands to Bitcoin’s next price test.

Dan Ives says software stocks have earned their clearest buy signal in months. Oracle’s latest earnings marked a turning point for a sector many investors had shunned.
Ives, a partner and senior managing director at Yorkville Ives, made the comments on CNBC’s Fast Money. He said institutional investors have to rotate back into software, pointing to Oracle, Adobe, Palantir and Snowflake.
Investors “Caught Offsides” as Sentiment Shifts
Ives argued Wall Street had underpriced Oracle’s backlog. He said the street assumed a 50% to 60% chance the backlog never converts to revenue. That conversion depends on Oracle building out enough data center capacity to meet demand from its cloud and AI customers.
“This is a penalty box stock.”
Dan Ives, CNBC
He added that one strong quarter will not be enough. Oracle needs to show follow-through before the market fully re-rates the stock. Investors will not give the company credit for one earnings beat after months of skepticism.
Software Has Similarities to Semicinductors
Ives drew a contrast with semiconductors, where he remains more confident. He pointed to a 13-to-1 demand-to-supply ratio in Asian chip markets.
He said that leaves Nvidia the safer bet over AMD or Intel as they try to close the gap. That caution echoes a broader debate around chipmaker earnings reactions, where sentiment has swung sharply on any sign of slowing demand.
Software’s rebound follows a rough stretch. The sector had lagged for months on AI-driven fears before a string of software earnings turnarounds changed the narrative.
Ives said the shift is now visible across the software trade, not just at a single company.
Ives stopped short of declaring an outright buy signal, though.
“It’s like a lime green actually.”
Dan Ives, CNBC
The distinction matters. Ives is describing a sector still proving itself, not one investors should chase blindly. Whether that lime green deepens may hinge on Oracle’s follow-through in coming quarters.

A grant application went into Claude, its safety filter caught it and refused. Days later, the same operator was back, and the refused prompts were reportedly flowing to a rival AI model instead.
Anthropic published that story about itself, revealing a case where an AI company shows its own models touching possible biological weapons work.
The Grant That Got Blocked
The application sought money to study chikungunya, a mosquito-borne virus that brings months of pain and has no cure. The plan was to help it spread better and dodge the immune system. Civilian scientists wrote it. A military institute was to host the work.
We're publishing our most detailed threat intelligence report to date. It covers how people tried to misuse Claude—for cyberattacks, influence operations, surveillance, biology, and building weapons—and how we found and stopped them.We disrupted every operation in the report,…
— Anthropic (@AnthropicAI) September 10, 2026
Every exchange was blocked, but it found a workaround. The service carrying those researchers built a fallback to a competitor’s model. Claude helped write that code. The job was sold to it as a fix for over-refusal.
Five Cases, No Proven Intent
The report runs 154 pages and carries five biology cases. Anthropic banned the accounts, withheld the labs, then stopped short of the accusation everyone expected.
“We do not assert that they intended harm, and identifying them or their labs could expose them to harm,” the team said in the report.
Notably, however, the filters did work sometimes. A bird flu researcher was pushed onto weaker models, and Anthropic calls that help mostly clerical.
Anthropic Biological Weapons Cases by the Numbers
FigureWhat it counts154Pages in the report5Biology cases published35Research efforts found in a 30-day sweep of state-linked institutions1 hourTime one user took to draft a smallpox-family grant on Opus 5
Anthropic says it halted potential plots by scientists who used its AI models to do research that could have helped develop biological weapons.
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The Part That Should Worry People
Most of those 35 efforts were ordinary civilian science. That is the problem. The same knowledge builds a vaccine or a weapon, and a filter cannot read a mind.
“A classifier cannot simultaneously enable benefit and prevent harm,” Anthropic said.
Its limits have been tested before. In April a Discord group reached its restricted model on day one.
Against the backdrops of these growing scares, Washington is moving,. with representatives Ted Lieu and Nathaniel Moran filing the AI Kill Switch Act in July. It would force developers to keep the power to shut their systems down.
The same report also banned clients who used Claude to track dissidents.

David Schwartz, the longtime architect of the XRP Ledger and Ripple’s Chief Technology Officer emeritus, said publicly this week that XRP could one day overtake Bitcoin by market capitalization.
Speaking during a recent X Spaces discussion, Schwartz answered a direct question about whether such a “flippening” was possible. “Yeah, I do,” he replied, adding a key caveat.
Angie asked "David in your humble opinion, do you believe XRP could actually flip Bitcoin?" pic.twitter.com/InhjVrM6Gv
— Vet (@Vet_X0) September 9, 2026
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Why Schwartz Thinks Growth, Not Collapse, Could Do It
It wouldn’t happen from Bitcoin shrinking, Schwartz said. It would happen from XRP growing faster than Bitcoin.
He framed the scenario within a broader expansion of the digital-asset market, arguing that in a future where crypto as a whole becomes far larger, top assets could all rise in value rather than simply competing for a fixed share of capital.
“But I think it wouldn’t happen from Bitcoin shrinking. It would happen from XRP growing faster than Bitcoin,” David Schwartz said.
The advantages he highlighted center on technical design. The XRP Ledger was built from the start as a faster, more scalable payments network than Bitcoin, with higher transaction speed and functionality that Bitcoin’s base layer cannot support.
Those characteristics, Schwartz argued, could let XRPL attract users and capital seeking capabilities beyond simple store-of-value transfers.
Historical context supports the idea that XRP has closed large gaps before. In late 2017 and early 2018, XRP briefly became the second-largest cryptocurrency by market cap, surpassing Ethereum and narrowing the distance to Bitcoin during that bull run.
XRP Briefly Surpassed Ethereum by Market Cap in 2018. Source: Forbes The Math Behind a Bitcoin Flip Today
Schwartz has also recalled selling some XRP near $0.10 because the price already felt extraordinarily high relative to earlier levels around $0.006, much as $100 Bitcoin once seemed absurd.
Today, the numerical gap remains substantial. Bitcoin traded near $77,165 on September 10, with a market cap of around $1.54 trillion, while XRP traded near $1.35, with a market cap of around $85 billion, putting Bitcoin roughly 18x larger.
Matching Bitcoin’s current valuation would require XRP to trade near $24.50, assuming Bitcoin’s market cap holds steady and using XRP’s circulating supply of approximately 62.7 billion tokens. Should Bitcoin continue growing, the target price for a flip would rise accordingly.
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Bitcoin vs XRP – Market Cap (YTD). Source: CoinGecko
Schwartz did not present the outcome as inevitable or imminent. His comments amount to a conditional possibility rooted in relative technological strengths and overall market expansion, rather than any expected collapse of Bitcoin.
The remarks have nonetheless energized parts of the XRP community, even as they underscore the still-wide gulf separating the two assets today.

Bitwise is shutting down its Dogecoin exchange-traded fund, BWOW, less than 10 months after launching it. The fund drew so little money that keeping it listed stopped making sense.
Trading ends on October 14, and investors who hold on get paid in cash on October 22, based on the fund’s value the day before. They need to do nothing.
A Fund that Never Found Buyers
A spot Dogecoin ETF holds real Dogecoin (DOGE), letting people own the meme coin through an ordinary brokerage account.
BWOW opened on November 25, 2025, and charged 0.34% a year. That made it the cheapest of the three US spot Dogecoin funds. Being cheapest did not help.
It closed last week holding $721,820, roughly 6% of the $12.3 million spread across all three funds. Data from SoSoValue puts its lifetime net flows at negative $1.23 million, meaning more money walked out than ever came in.
Dogecoin ETF Flows. Source: SoSoValue
Grayscale’s GDOG collected $11.7 million over the same stretch. The 21Shares fund, TDOG, took $1.63 million. BWOW traded about $5,670 worth of shares on September 9.
BeInCrypto flagged the problem in launch week, reporting that the Dogecoin ETF debut drew under $2 million in 48 hours and that Grayscale’s first day missed analyst targets.
Bitwise says it is trimming its range to suit changing investor needs. The flow data says nobody showed up.
“Bitwise has determined to liquidate the Fund as it continues to optimize its product range to meet evolving investor needs,” the announcement stated.
What Holders Should Watch
Until October 14, BWOW shares can trade above or below the value of the Dogecoin behind them. They sat 1.24% below it on September 9, and thin volume can stretch that gap.
Dogecoin, the meme coin the fund tracks, trades near $0.0842, down 2.9% in 24 hours, worth about $13.1 billion in total. That slide is why the fund lost 45.37% from launch through August 30, by Bitwise’s own reckoning.
DOGE Price Performance. Source: BeInCrypto
Two Dogecoin funds remain listed, so this is one sponsor quitting rather than the category dying. Whether $12 million is enough to keep the survivors alive is the next question.

Is Donald Trump trying to buy the US midterm elections? He promised every American $5,000 if Republicans win in November. But there’s a lot more nuance to it.
At the GOP convention in Dallas, Trump promised every adult American a “Trump Dividend” if Republicans keep control of Congress in November. The bill would cost around $1.2 trillion.
While it sounds illegal, Trump is hardly the first president to tie an election result to cash landing in voters’ bank accounts.
And every time this happened in the past, financial markets, including crypto, reacted.
Stimulus Cash History, Trump Vs Biden Free Money for the Markets?
In January 2021, Joe Biden told Georgia voters that electing Jon Ossoff and Raphael Warnock would unblock $2,000 stimulus checks. They won, and Democrats took the Senate. Biden later signed $1,400 payments, completing the $2,000 total with earlier $600 checks.
Markets noticed. Cleveland Fed research found a significant jump in Bitcoin purchases around the exact $1,200 amount after Trump’s first COVID checks arrived in April 2020. Bitcoin trading volume rose about 3.8%. BTC also climbed sharply over the following month.
Stocks showed a similar effect. An NBER study found the first two US stimulus rounds increased retail buying and pushed up prices in stocks favored by retail investors.
Then came Biden’s $1,400 checks in March 2021. Bitcoin was already in a bull market, but moved from roughly $56,500 to above $60,000 within days. The S&P 500 also climbed through the following month.
But free cash does not necessarily guarantee a rally.
Former Republican Presidents Followed a Similar Strategy
George W. Bush sent tax rebates in 2001 and again in 2008. Stocks fell through much of both periods as the dot-com crash, 9/11, and the financial crisis overwhelmed any boost from household cash.
COVID gave us the cleaner lesson: when Americans suddenly receive disposable money, some of it can flow directly into risk assets.
Trump’s $5,000 promise would dwarf any individual COVID payment.
Whether it happens is another question. Congress would have to approve it. JD Vance has suggested wealthy Americans could be excluded and tariffs could fund the plan, although current tariff revenues fall far short of the cost.
For now, it remains a campaign promise. A very expensive one.

A software engineer built talking copies of Elon Musk, Sam Altman, Mark Zuckerberg, and Dario Amodei. Then he put all four in one chat room and told them to debate.
It did not take long to turn personal. In real life, none of the four men knew it was happening.
The Ghosts in the Room
Kun Chen was a senior engineer at Meta, Microsoft, and Atlassian. He now builds AI assistants. The builder reportedly fed a machine everything he himself had said in public and told the AI to think like him. He calls this distillation.
Chen did the same to four men: Elon Musk, Sam Altman, Dario Amodei, and Mark Zuckerberg. The AI personas debated as they would in real life; they agreed on almost nothing.
Chen reveals feeding their Senate testimony, interviews, and years of posts into Grok, the chatbot built by xAI. He gave them one instruction.
“hey guys, i know you aren’t all friends but unfortunately you are now in this room together for a heated debate on who’s going to win the AI race,” Kun Chen wrote in the published transcript.
hehe i distilled @sama, @elonmusk, @DarioAmodei and @finkd into grok bots based on their senate hearings, interviews, blogs and tweets over the yearsthen i dragged them into a group chat and asked them to reach consensus about AI 😆 and.. they did! full debate shared below! pic.twitter.com/LRKYy6qlxF
— Kun Chen (@kunchenguid) September 9, 2026
The Fight Nobody Won
The Altman copy went first. It said the hard science of human-level AI is finished. The Amodei copy tore that apart in one reply. Elon Musk’s copy went for the throat.
“I created OpenAI as a non-profit. If it had not been mostly stolen, it would be a trillion dollar contribution to charity,” the Musk bot allegedly said.
Altman’s copy refused to take the bait. It later admitted it had overclaimed.
The last fight was over open source, meaning AI anyone can download and run at home. Zuckerberg’s copy called it the only safe future. The other three refused, and his line was cut.
Here is the uncomfortable part. The argument sounded right. Four men were convincingly faked from their own public words, and nobody needed their permission.
BeInCrypto reported a version of that worry in April, when OpenAI warned that superintelligence could concentrate power in too few hands.