Trump: Committed to Making America Lead the Future of Cryptocurrency and Bitcoin

DBS Group Chief Investment Officer Hou Wey Fook said that Nvidia’s price-to-earnings (P/E) ratio and projected 70% earnings growth next year indicate that AI-driven tech stocks are still far from forming a bubble. Aggregate data shows Nvidia’s current 12-month forward P/E ratio stands at 17x. Hou compared this to Cisco Systems’ valuation of around 100x before the dot-com bubble burst. He told TV interviews: "If we take Nvidia as the representative company in the AI sector, which currently has a P/E ratio of only in the teens, how can we call this a bubble?" He added that semiconductor and AI investments still have "tailwinds". However, Hou recommended adopting a "barbell strategy" to "control overall portfolio volatility": allocating to tech stocks on the growth end, while pairing with investment-grade fixed-income assets to deliver stable returns, and using hedge funds and gold as intermediate risk-diversification tools.

Hong Kong Secretary for Financial Services and the Treasury Christopher Hui stated that amid the advancement of fintech innovation, the government will submit a draft ordinance amendment this year to establish a licensing regime for virtual asset trading, custody, advisory, and management services. The Hong Kong Financial Services and the Treasury Bureau, in collaboration with the Hong Kong Monetary Authority (HKMA), is also working on optimizing the legal framework to drive the tech and telecommunications sectors to step up detection and removal of fraud-related content, including AI-generated fraud.

Per Lookonchain monitoring, early Ethereum participant "0xa2F6" sold 13,330 ETH after six months of inactivity, worth roughly $36.37 million. This crypto OG bought 170,000 ETH at a low price of $0.31 via Ethereum's ICO, with a total cost of just $52,700. The batch of ETH is now valued at approximately $461.4 million.

Ethereum OG "0xa2F6" sold another 13,330 $ETH($36.37M) after 6 months. This OG bought 170,000 $ETH through the ICO at a low price of $0.31 (costing $52.7K, now worth $461.4M).

According to Bitget market data, the Nikkei 225 index closed up 1637.40 points, or 2.40%, at 69946.86 points on Monday, October 5.

Trader 0x914b lost $471K shorting 14,976 $ETH($40.97M) and then flipped to long. He opened a 25x long on 23,734 $ETH($64.3M), with a liquidation price of $2,650.