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Ethereum’s rally to $4,331 has sparked a tug-of-war among major holders, with some doubling down and others cashing out big gains.
Share link:In this post: Trump’s nomination of Stephen Miran to the Fed board has raised concerns at JPMorgan that it could be part of a push to rewrite the Federal Reserve Act, potentially giving the White House more control over monetary policy. Miran’s 2024 paper calls for sweeping reforms, including presidential power to fire Fed officials, congressional control of the Fed’s budget, and shifting regulatory duties to the Treasury. While major changes face steep hurdles in the Senate, analysts warn the F
Share link:In this post: AI is reshaping U.S. markets, boosting leaders like Nvidia while hurting companies in creative, staffing, and advertising sectors that face rapid automation risks. Bank of America flagged 26 high-risk firms, and stocks like Wix, Shutterstock, and Adobe have sharply underperformed since mid-May. Microsoft, Meta, Alphabet, and Amazon plan to spend about $350B this year on AI infrastructure, widening the gap between market winners and losers.
Share link:In this post: Trump signed an executive order to allow 401(k) plans to include crypto. Employers and plan sponsors must approve before any changes happen. Providers like Fidelity and Vanguard will decide if crypto options are added.
Share link:In this post: Nvidia now makes up about 8% of the S&P 500, the largest share for a single stock since 1981. The U.S. has approved licenses for Nvidia to sell its H20 AI chips to China after reversing an earlier ban. Apple and Alphabet are flagged as overbought, with Apple gaining 13.3% and Alphabet up 6.5% this week.
Share link:In this post: Tesla has applied to Ofgem for a licence to supply electricity to UK homes, with “Tesla Electric” potentially launching next year. The service will link with Tesla cars, Powerwall batteries, and possibly “vehicle-to-home” tech, aiming to cut bills and use stored solar power during peak demand. Despite this push, Tesla faces falling UK and European car sales, stiff EV competition, and reputational challenges linked to Elon Musk.
Pump.fun’s bold Glass Full Foundation and $12M buyback aim to strengthen meme coin cults, yet PUMP struggles to impress investors.
- 23:35Overview of Major Overnight Developments on October 1621:00 (UTC+8) - 7:00 Keywords: Polymarket, Atkins, Morpho, Eric Trump 1. Polymarket launches stock price prediction markets; 2. US Treasury Secretary: The Federal Reserve should use quantitative easing policies cautiously; 3. US SEC Chairman Atkins promotes innovative regulation for crypto and tokenization; 4. Milan: I believe there is no need to cut interest rates by more than 50 basis points; 5. US Senate rejects Republican funding bill, government shutdown outlook remains uncertain; 6. Eric Trump, son of Donald Trump, confirms ongoing real estate tokenization plan with WLFI; 7. Federal Reserve Beige Book: Overall economic changes are minor, rising uncertainty may drag down the economy; 8. Ethereum Foundation has deposited 2,400 ETH and about 6 million stablecoins into Morpho’s yield vault.
- 23:35The official RubiFi X account has been compromised. Please remain vigilant.According to Jinse Finance, Scam Sniffer has detected that the official RubiFi X account has been compromised and is posting phishing tweets. Please remain vigilant.
- 23:20Paxos: An error during internal transfers led to the over-minting of additional PYUSD, which has already been destroyed; no security vulnerabilities exist.Jinse Finance reported that Paxos stated, "During an internal transfer process, an excess amount of PYUSD was mistakenly minted. Paxos immediately detected the error and destroyed the surplus PYUSD. This was an internal technical error, not a security vulnerability. Customer funds are safe, and we have already addressed the root cause." Previous reports indicated that Paxos minted 300 trillion PYUSD and destroyed it 20 minutes later.