US-listed crypto-related concept stocks fell broadly, with PURR down 8.62% and CRCL down 4.51%.

Liquid Capital founder Jack Yi wrote in a post that after Bitcoin (BTC) rose to around $86,000, it is facing a normal correction. In the current bull market, investors should "be bearish but not short" and wait patiently for the next long trading opportunity. He noted that for specific trading opportunities, Ethereum (ETH) is showing stronger performance; trading infrastructure assets such as UNI and HYPE are gaining market acceptance, while ZEC is a "strong-whale asset".

Tether said its asset exposure to EQIBank, a licensed bank in Dominica, is less than 0.034% of the group’s total assets. EQIBank recently faces liquidation risk after its U.S. payment processor Capstone had roughly $89 million in assets seized by U.S. authorities. Based on Tether’s $187.75 billion group total assets disclosed in June this year, its maximum exposure to EQIBank is approximately $64 million. Tether stated it had no prior knowledge of the U.S. Department of Justice’s allegations against Capstone. EQIBank previously provided banking services to Tether, including handling wire transfers related to USDT purchases and redemptions. U.S. prosecutors accused Capstone of submitting false business information to banks and initiated civil forfeiture proceedings against its accounts at Wells Fargo and JPMorgan Chase. EQIBank said the seized roughly $89 million in assets account for about 80% of its monetary assets. Tether noted that this exposure scale does not pose a direct threat to USDT reserves or its U.S. dollar peg, but the incident once again highlights the counterparty risks stablecoin issuers face when relying on banks and payment institutions to process fund flows.

Beating AI News Flash, per The Information: TypeSafe AI, the developer of Jev, has begun discussions with investors for a new funding round that could reach $1 billion or more. Some investors have proposed investing at a valuation of over $10 billion. Negotiations remain in early stages, and both the final funding amount and valuation could change; TypeSafe declined to comment. Just over a week ago, TypeSafe announced it had closed a $40 million seed round led by DCVC, with PitchBook valuing the company at roughly $200 million at the time. At the latest $10 billion valuation offer, TypeSafe’s valuation has surged roughly 50 times in just a few days. Jev’s adoption rate since launch has been extremely fast. Vercel stated that within 24 hours of Jev’s launch on its AI Gateway, it was used by nearly 13% of paid teams, making it the fastest-adopting new model in the platform’s history. TechCrunch previously reported that early demand briefly caused TypeSafe’s API to experience service outages. Jev is not designed for long text generation; it primarily performs classification, scoring, and yes/no judgments on preset options before outputting probabilities, making it suitable for integration into agent loops for routing, security audits, and task offloading. TypeSafe’s own tests recorded a maximum speedup of 193.6x, though the company clarified this figure reflects top-tier real-world performance and is not achievable for all tasks. Vercel’s tests on specific security classification tasks recorded speedups of roughly 5x to 18x.

Apollo Global Management’s chief economist Torsten Slok warns that record diesel prices could pose a larger inflation threat than the U.S. Federal Reserve currently anticipates, as fuel costs are feeding through to the core Consumer Price Index (CPI). Slok notes that diesel-related transportation costs have a different impact from gasoline prices. Given that transporting goods is critical to economic activity—from retail supply chains to data center construction—demand for such services is highly inelastic, meaning price hikes will ultimately be passed on to businesses and consumers. This impact of rising diesel prices is especially pivotal as the Fed sets monetary policy following its first interest rate increase since 2023. Current inflation levels remain well above the central bank’s 2% target. The so-called core inflation metric excludes energy factors, but Slok argues the Fed cannot simply dismiss diesel price rises as temporary, as they will spill over into core inflation categories.

Beating AI News Flash: Elon Musk posted that his AI computing cluster Colossus 2 currently has deployed 110,000 NVIDIA GB200 chips and 440,000 GB300 chips, totaling 550,000 chips, and the total number may exceed twice the current figure by the end of the year. Musk revealed that Colossus 2 is expected to bring online 220,000 GB300 chips next week, with another 220,000 to go online in November; if progress goes smoothly, an additional 220,000 chips could be launched before the end of December. Per the plan, Colossus 2 will add up to 660,000 GB300 chips by the end of the year, bringing its total chip count to around 1.21 million, a roughly 120% increase from the current level. In addition, Colossus 1 currently operates with 150,000 H100 chips, 50,000 H200 chips, and 30,000 GB200 chips. Earlier, xAI announced plans to equip its data center in Memphis, U.S. with 1 million GPUs by 2026.

Former New York Governor and OKX board member Andrew Cuomo published an article in CoinDesk, stating that tokenization of U.S. financial markets is accelerating and the regulatory system needs to keep pace with technological and market developments. Cuomo noted that the U.S. Securities and Exchange Commission (SEC) launched a temporary "Innovation Exemption" framework on September 17, allowing qualified on-chain trading platforms to trade tokenized stocks of certain U.S. publicly listed companies under specific conditions, with a 5-year term. This framework provides a testing ground for blockchain to enter regulated capital markets. Cuomo emphasized that the framework does not relax regulation; instead, it allows the market to test new technologies under clear constraints, including requirements that trading platform participants hold licenses, tokenized stocks grant investors the same rights and benefits as traditional stocks, smart contracts are audited and deployed on public chains, and corresponding tokenized stocks halt trading when their underlying stocks are suspended. The U.S. Senate failed to advance the Digital Asset Market Structure Act (CLARITY Act) on September 15, revealing lingering divisions over comprehensive digital asset regulatory legislation. However, the tokenization market will not stop developing due to the slow legislative process. Cuomo believes regulatory clarity is not only a legal and political issue but will also affect the future flow of capital, talent, and financial infrastructure.