Assemble AI

Cryptocurrency analyst Ali Martinez warned on Sunday that XRP could decline further if large holders keep selling. Martinez identified $1.26 as key support and projected a possible fall toward $1.11, followed by $0.98, if that support breaks. Martinez said the number of wallets holding 10 million to 100 million XRP fell from 351 to 339 over the past few weeks. However, Coinglass data showed nearly 78% of Binance's top trader accounts with open XRP positions were positioned long. Benzinga Pro data showed XRP at $1.29, down 1% over the past 24 hours, at the time of writing.

Bitcoin dropped below $80,000 on Monday amid a deepening AI-related market selloff. Cryptocurrencies faced pressure from concerns about AI-related investments and broader risk aversion before a Federal Reserve meeting. Bitcoin declined as much as 1.4% to below $79,300 before recovering some losses.

CoinDCX said it absorbed a $16 million loss after an internal process failed to transfer customer deposits from a retired wallet. CoinDCX said customer balances, active wallets and trading systems remained unaffected. The exchange initially denied any connection to suspicious outflows, but investigator ZachXBT challenged the exchange's account of the wallet's use. CoinDCX subsequently said a failed transfer process had allowed deposits to accumulate in the retired address. CoinDCX acknowledged that the exchange could have communicated more promptly.

Gadi Eisenkot said Prime Minister Benjamin Netanyahu's proposal to use cryptocurrency against possible international sanctions would destroy Israel. Netanyahu said officials had been asked to develop a blockchain plan after warning on Friday that Israel must prepare for broader sanctions. Israel's central bank said cryptocurrency cannot provide a way around sanctions, according to Channel 10. Eisenkot warned that the proposal could push companies abroad and weaken national security. President Donald Trump endorsed Netanyahu's re-election bid on Tuesday, but Polymarket gave Eisenkot a 52% chance of becoming Israel's next prime minister, against Netanyahu's 27%.

An Electrum security flaw let malicious servers deceive users into authorizing bitcoin payments to attackers when users tried to increase transaction fees. Developers confirmed at least one theft but have not revealed the amount stolen. Electrum released version 4.8.3 on October 24 to address the vulnerability; older versions remain vulnerable when connected to malicious servers. Developers recommend upgrading and verifying destination addresses and payment amounts before signing. Users who connected exclusively to trusted servers, including servers the users operated, were not exposed.

Elon Musk warned that more than 200 specialist AI cloud providers could fail or consolidate as lenders restrict financing. Musk said Sunday that lenders had largely stopped financing companies without substantial revenue outside AI data centers. Gartner forecast in October that more than 80% of these providers would no longer operate independently by 2030. Gartner said infrastructure investment would outpace the revenue needed to make all those investments profitable. The warnings could also affect Bitcoin miners that have expanded into AI infrastructure.

CoreWeave shares have lost more than a third of their value in October as investors question roughly $52 billion in debt for AI data centers. Second-quarter revenue reached about $2.5 billion, a 112% increase from a year earlier. CoreWeave's unsecured bonds yield about 15%, signaling expensive borrowing. However, Nvidia CEO Jensen Huang said last week that CoreWeave needs no financial backstop from Nvidia and that CoreWeave's cost of capital is falling. A weak refinancing outcome could raise borrowing costs across debt-financed GPU projects, including cryptocurrency miners converting facilities to AI.

Bitcoin declined nearly 2% to about $79,800 during Monday morning trading in Asia as traders reduced risk before this week's Federal Reserve meeting. Continued selling in Asian technology shares also weakened sentiment. BTSE chief operating officer Jeff Mei said the Fed probably will leave rates unchanged this week, but signals about a December increase matter for crypto. The Fed will announce the rate decision on Wednesday. Bitcoin must recover above $82,500, the support level lost last Thursday, to restore buyer confidence.

Canada's proposed stablecoin rules would let covered retail holders redeem directly with issuers without a minimum amount and with issuer fees capped at 1%. The proposal, published Oct. 24, would normally require issuers to complete redemptions within three business days. Issuers could impose daily limits if liquidity shortages in reserve-asset markets prevent issuers from meeting all requests. Coverage would depend on purchaser location, the issuing entity and applicable exclusions or exemptions. The government intends implementation in fall 2027; Circle's current direct-redemption service excludes individuals using the service for personal purposes.

Hong Kong has designated Nasdaq-listed Solana Company (HSDT) as a strategic enterprise through a program supporting the city's economic development. Solana Company said Thursday that the company joined the program's seventh batch and was the only blockchain infrastructure business admitted by the office in 2026. Hong Kong's government confirmed 18 additions last week, increasing the program's total to 142 enterprises. Solana Company plans to set up validator operations in Hong Kong through the Pacific Backbone initiative.

Microsoft, Alphabet, Amazon and Intel report earnings this week amid uncertainty over what investors want from AI spending. MetLife's Drew Matus said investors penalize companies whether companies reduce or increase capital expenditure. Meta shares fell 7% on Oct. 22 despite stronger-than-expected revenue, as third-quarter capital expenditure reached $34.9 billion and exceeded operating cash flow. Matus questioned whether companies can spend their announced budgets this year because companies first need workers, equipment and land. The Federal Reserve's policy decision arrives Wednesday afternoon, before Microsoft and Alphabet report.

Elon Musk predicted that more than 200 AI computing providers known as neoclouds will consolidate into only a few survivors. Musk said debt markets have almost stopped financing companies without substantial revenue independent of AI data centers over the past few weeks. Nasdaq-listed SpaceX has raised $40 billion in debt to purchase GPUs for artificial-intelligence systems. Musk said SpaceX secured financing because of SpaceX's strong credit rating and steady revenue from Starlink internet service and rocket launches.

Hardware wallet maker Keystone disclosed a website breach that gave attackers access to customer shipping information, including addresses and purchase details. Keystone said it blocked access, repaired the vulnerability and began notifying affected customers. Security researcher Taylor Monahan warned that exposed addresses could put customers at risk of physical attacks and kidnappings. Some customers reported receiving notifications for purchases more than two years ago, despite Keystone's previously announced 180-day data retention policy. Keystone did not disclose the number of affected customers or respond to questions by publication time.

Luiz Inácio Lula da Silva won Brazil's presidential election and began a fourth term, a first for a Brazilian president, Bitcoin.com News reported. Lula secured 51.78% against Senator Flavio Bolsonaro's 48.22%, with 99.99% of votes counted. Lula reversed a first-round deficit to win the second round. Perpetual contracts on Hyperliquid linked to the iShares MSCI Brazil ETF (EWZ) dropped more than 22% after Lula's victory was announced.

This week's earnings roundup covers Microsoft, Alphabet and Amazon as spending on AI infrastructure continues to increase. Microsoft and Alphabet report on Wednesday, after the Federal Reserve's rate decision, and Amazon reports on Thursday. Microsoft expects quarterly capital spending above $50 billion. Alphabet raised its 2026 capital spending guidance to between $195 billion and $205 billion in July. Amazon increased its 2026 capital spending forecast to about $220 billion from $200 billion. Alphabet shares fell 7.1% after July's results despite earnings substantially exceeding estimates.

Ducat announced a gradual shutdown of the protocol and opened redemptions of treasury assets. Ducat said holders recorded in a completed snapshot can redeem the fair value of their corresponding DUCAT from the protocol treasury. Eligible claims can be redeemed without waiting for the cooldown period to finish. DUCAT bought through liquidity pools after the snapshot is ineligible for redemption.

CZ responded to BNB Chain's plan for a new Layer 1 with the statement, "Multiple chains, one coin." BNB Chain's official documentation describes the blockchain under development as EVM-compatible and designed for high performance and low-latency on-chain activity. The documentation lists sub-second finality and native account abstraction among the features.