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Shares of IREN Ltd. (NASDAQ: IREN), an AI cloud and data-center operator, fell more than 4% to $23.90 in premarket trading Monday after Elon Musk warned that hundreds of specialized AI cloud providers could go out of business or be forced to merge. Musk also ruled out SpaceX acquiring any neocloud companies.
The decline coincided with share-price declines in fellow AI infrastructure companies CoreWeave (CRWV) and Nebius Group (NBIS).
In a Sunday post on X, Musk said lenders had nearly stopped providing financing to companies without substantial revenue outside AI data centers. He predicted that more than 200 neocloud providers would face what he called “guppy-level death and consolidation,” adding that only a small number would survive.
Responding to speculation that his comments were intended to push down neocloud stock prices ahead of potential acquisitions, Musk wrote, “SpaceX is not buying any neoclouds. Pointless.”
Musk also said SpaceX had closed $40 billion in debt financing to purchase graphics processing units, or GPUs, used in AI computing. He attributed the company’s access to borrowing to its investment-grade credit rating and revenue from Starlink satellite services and rocket launches.
However, Bloomberg reported that discussions over the debt’s pricing remained ongoing as of late Sunday and that the financing had not yet been priced, despite Musk’s statement that the deal had closed.
IREN Shares Trade Below Previous 52-Week Low in Premarket
IREN shares had already fallen about 47%, from $47.05 on September 23 to $24.905 at Friday’s close. Monday’s $23.90 premarket quote placed the stock nearly 69% below its 52-week high of $76.87 and below the previous regular-session 52-week low of $24.855, recorded October 22.
Short interest in IREN stood at 81.65 million shares as of September 30, up from 55.88 million at the end of March but below the 98.22 million shares reported at the end of July.
Separately, IREN Limited Tokenized bStocks (IRENB) was trading at $23.91, down 3.28% over 24 hours, according to CoinMarketCap. The tokenized instrument’s 24-hour performance is separate from the Nasdaq-listed shares’ premarket movement.
Gartner Forecasts Widespread Neocloud Consolidation by 2030
Musk’s warning followed an October 14 Gartner report predicting that more than 80% of neocloud providers would cease operating independently by 2030 because of rising costs and insufficient differences between competing business models.
Gartner estimated that spending on AI-optimized infrastructure-as-a-service (IaaS) would rise from $66 billion in 2027 to $174 billion in 2030. Despite that growth, the research firm warned that most AI computing providers would struggle to recover their infrastructure investments before the current generation of AI chips is replaced.
The forecast concerns the industry’s loss of independent operators, including through consolidation, rather than necessarily the closure of every affected business. It does not establish that IREN itself will fail or lose its independence.
IREN is scheduled to report its fiscal first-quarter 2027 financial results on November 5, followed by a conference call at 5 p.m. Eastern Time.
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October 22 brought a new financing partnership for the XRP Ledger, an interest-paying digital deposit from SoFi and expanded trading capabilities at Uniswap. The day’s announcements also included regulatory action against Coinbase Ireland, a major venture-capital rebrand and a governance decision at Starknet.
Ripple and Arf Target Payment Firms’ Funding Needs
Ripple and Arf announced a partnership to provide licensed payment companies with short-term financing in RLUSD through the XRP Ledger. The funding is intended to cover the period while international payments settle, with Arf’s financing typically repaid within one to five days. A later phase would use XRPL’s proposed native lending features once the required amendments are activated.
SoFi Introduces a Tokenized Deposit Paying 4.40% APY
SoFi unveiled SOFIE, a tokenized bank deposit offering a variable 4.40% annual percentage yield, with deposits eligible for FDIC insurance within applicable limits. Customers can exchange SOFIE for SoFiUSD at a one-to-one rate, then use the stablecoin for crypto purchases or transfers to supported external wallets. Access is being introduced to SoFi Crypto members in stages through November.
Uniswap Expands Access to Liquidity From Other Exchanges
Uniswap Labs activated aggregator hooks on Ethereum, Base and Robinhood Chain, allowing its trading system to draw on liquidity from external platforms. Seven sources are available initially through the web app and API, giving the system additional prices and trading routes to compare. Swaps using these connections also generate protocol fees that contribute to UNI token burns.
Coinbase Ireland Receives €3.25 Million Penalty
Ireland’s central bank announced a €3.25 million penalty against Coinbase Ireland for shortcomings in protecting customer funds and overseeing outsourced operations. The settlement was reached on October 21 and disclosed on October 22, with the sanctions still requiring High Court confirmation. Coinbase said it had corrected the issues and that customers had neither lost money nor been prevented from accessing their funds.
Starknet Voters Support Research Into an Independent Blockchain
A Starknet poll that closed on October 22 recorded more than 93.5% of voting power in favor of researching a transition from an Ethereum Layer 2 into an independent blockchain designed for post-quantum security. StarkWare plans to prepare a draft whitepaper for public review in November. Any actual network transition would require further governance approval.
a16z Crypto Adopts the Frontier Name and Broadens Its Focus
Andreessen Horowitz announced that a16z Crypto is becoming a16z Frontier as its new fund expands into a wider range of emerging technologies. Managing partner Chris Dixon identified opportunities around artificial intelligence, new computing devices and other businesses that may take years to develop. The firm said cryptocurrency investments and its work on crypto regulation will continue under the broader mandate.
Dune Launches Faster Data Feeds for Onchain Markets
Dune introduced a market-data service that delivers information about blockchain trades roughly one second after execution, according to its announcement. Its spot coverage spans more than 200 trading venues across 12 networks, while a separate feed covers perpetual futures on Hyperliquid and Lighter. The service supplies standardized trade details and links them to the underlying blockchain transactions.
Fireblocks Rejects Report of Acquisition Talks With Visa
Fireblocks disputed an October 22 Axios report claiming Visa was in advanced discussions to acquire the company for approximately $2.5 billion. In a response to The Block, Fireblocks said the reported talks were untrue at that time, while Visa declined to comment. The companies have announced no acquisition agreement.
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Analis kripto MasterAnanda berpendapat bahwa #Cardano mungkin mendekati akhir dari pasar bearish berkepanjangannya sebelum pemulihan yang kuat.
Dalam pesan yang ia sebut sebagai pengingat bersahabat, analis tersebut memperingatkan bahwa investor mungkin tidak akan mendapat kesempatan lagi untuk membeli Cardano pada harga serendah itu jika tren bullish yang diperkirakan benar-benar terjadi.
Untuk mendukung pandangannya, MasterAnanda membagikan grafik ADA/USDT tiga hari di Coinbase. Grafik tersebut menyoroti tren penurunan berkepanjangan setelah reli Cardano pada akhir 2024, disertai pola wedge menurun dan gelombang bearish yang berlangsung lama. Grafik itu juga menunjukkan formasi dasar membulat yang terbentuk selama sekitar dua bulan.

Grafik XRP Menyalin Skala Bull Run 2017 ke Struktur Saat Ini—Inilah Arti Garis Biru.
Grafik mingguan XRP yang dibagikan Patrick L Riley menunjukkan perbandingan langsung dengan reli bersejarah tahun 2017, dengan menyalin skala pergerakan tersebut ke struktur pasar saat ini.
Grafik mingguan XRP menggunakan pengukuran vertikal berwarna biru untuk membandingkan struktur saat ini dengan bull run bersejarah 2017–2018. Jika ekspansi sekitar 66.000% dari basis di dekat $1 terulang, secara matematis proyeksi batas atas akan berada di sekitar $650, sementara XRP harus terlebih dahulu mempertahankan support makro dan menembus resistance menurun. Sumber gambar: @Acquired_Savant, grafik oleh The Crypto Basic

Analis Giannis Andreou menguraikan potensi jalur bagi Cardano (ADA) untuk mencapai $0.90, dengan empat zona resistensi utama yang menghalangi harga saat ini dan target tersebut.
Dalam sebuah unggahan di X, ia membagikan grafik mingguan yang menunjukkan ADA pulih setelah mengalami penurunan berkepanjangan dan berupaya membentuk basis harga di sekitar $0.15-$0.19. Pada harga acuan $0.2555, ADA perlu naik sekitar 252% untuk mencapai $0.90.
Sementara itu, reli ini menghadapi beberapa rintangan penting, dan ADA harus menembus setiap zona resistensi agar momentum kenaikannya tetap terjaga.