Multicoin Capital transfers approximately $10.15 million worth of HYPE to Coinbase Prime.

Morgan Stanley CEO Ted Pick said Wednesday he expects AI buildout will face periods of bottlenecks and overbuilding, though investment will continue at a massive scale in the coming years. Pick also stated that banks’ role lies in adjusting the pace of AI capital expenditure—slowing it appropriately when the market advances too quickly, and ramping up investment when needed. “These investments are extremely large; the growth of the U.S. economy, and even the global economy, is to some extent being driven by this AI capital expenditure cycle,” he said. Pick added that he projects annual spending in the AI sector will hold steady at around $1 trillion over the next five to 10 years. Separately, JPMorgan Chase CFO Jeremy Barnum said Tuesday that as capital expenditure demand from AI infrastructure construction keeps rising, JPMorgan is closely monitoring its risk exposure in the AI space.

BlockBeats News: Anthropic has told investors that its third-quarter revenue surged to $16.8 billion, and the company turned profitable in the quarter. Amid growing market skepticism over the AI industry boom, the AI firm is seeking to secure support for its highly anticipated initial public offering (IPO). Anthropic informed investors that it achieved profitability on an adjusted basis, with quarterly revenue rising nearly 50% from $11.5 billion in the second quarter. Chips and data centers, essential for AI labs to train and run models, are the company’s largest expenses. Anthropic also added that it posted positive cash flow in the quarter. The developer of the Claude model is widely expected to hold the highest-valued IPO in history. (Source: Financial Times UK)

Hardware wallet provider Ledger’s security team Donjon has updated on a German-related report, stating that after receiving a report from a German user, it inspected inventory devices at retail outlets and distributors in the country, including products at the named stores, and found no signs of tampering. Ledger also noted that there have been no reports of financial losses linked to hardware implants across Europe. Separately, regarding the suspected abnormal devices circulating online, the security team has not obtained physical units for testing. It has now invited holders of such devices to send them to Ledger’s security team for further analysis, with investigation results to be made public.

Hyperliquid’s HIP-3 has generated a total of $75 million in cumulative revenue, with $37.5 million going to deployers and the remaining $37.5 million allocated for repurchasing and burning Hyperliquid’s native token. HIP-3, the Builder-deployed perpetual contract mechanism, allows eligible deployers to launch their own perpetual markets on Hyperliquid: they can define oracles, contract specifications, and manage operations, while leveraging the protocol’s core infrastructure such as order books and liquidation systems. Fees from these markets are typically split 50/50 between deployers and the protocol, with the protocol’s revenue share used for token repurchases and burns.

Beating AI Express News: xAI has launched its speech-to-speech model Grok Voice 3.0, claiming it ranks first on the Speech-to-Speech Index in an independent test by Artificial Analysis, scoring 86.9 points—higher than Grok Voice 2.0 (81.3), GPT-Live-1 (83.2), and Gemini 3.8 Live (82.6). The model also features end-to-end latency of under 1 second. It is now available via the Voice Agent API, priced at $0.08 per minute, matching the previous generation; agents using the "grok-voice-latest" tag will automatically switch to the new model. According to xAI, Grok Voice handles millions of daily conversations for Tesla and SpaceX: Starlink’s customer service center receives around 20,000 calls daily, with roughly 70% resolved without human intervention, and about a quarter of sales calls resulting in a purchase before the call ends. On benchmarks, Grok Voice scores 74% accuracy on ServiceNow EVA-Bench and 71.6% on τ-Voice, which the company says is comparable to GPT-Live-1 but with roughly 40% lower latency.

Crypto journalist Eleanor Terrett said she emailed the White House three times over the past week to inquire whether Patrick Witt still serves as executive director of the White House Crypto Council, and received no reply. Witt himself declined to comment. Sources familiar with the matter disclosed that Witt, a U.S. Department of Defense employee temporarily seconded to the White House Crypto Council, has reached or is nearing the end of his secondment, with his reappointment status unclear. Earlier this year, he delayed his service in the Georgia National Guard, and is expected to resume his military service soon. Terrett added that Harry Jung, deputy director of the White House Crypto Council, left his post at the end of July, and after David Sacks’ tenure as Crypto and AI “tsar” concluded, Witt is now the only remaining staff member of the council. The crypto policy community is now debating: after the CLARITY Act (officially the Crypto Market Structure Act) failed to advance in the Senate, whether the White House still prioritizes the crypto industry. The relevant personnel changes have not yet been officially confirmed by the White House.