JPMorgan Chase Reports Q3 Earnings: Adjusted Revenue of $50.91 Billion Misses Estimates, Pre-Market Down Nearly 3%

Wintermute said in a post that the Federal Reserve’s meeting minutes show most officials expect another interest rate hike this year, with markets pricing in roughly a 20% probability of a hike at the end of October, while the U.S. 10-year Treasury yield rose to 5.24%. Against this backdrop, the S&P 500 rose 1.2% last week to hit a new all-time high, while the crypto market underperformed. The stock market’s gain was supported by expectations of corporate earnings growth, whereas the crypto market lacks such earnings support and relies more on new capital inflows; as capital flows reversed, crypto assets’ six-week streak of counter-trend gains became unsustainable. Bitcoin retreated from the $86,000–$87,000 range last week, hitting a low of around $80,400 on Thursday before rebounding above $83,000 and reclaiming the $82,500 range high. U.S. spot Bitcoin ETFs saw a net outflow of roughly $679 million last week, marking their largest weekly outflow since late June, while Ethereum ETFs had a net outflow of about $542 million. The crypto market has lost capital inflow support, while U.S. equities remain underpinned by earnings growth. Thus, in the short term, the market will only remain bullish if long-term Treasury yields stabilize and spot ETFs see net inflows again. Until these two conditions are met, Bitcoin remains an asset more sensitive to U.S. stock market volatility with elevated downside risk, and chasing low-quality altcoins is not recommended. If the U.S. 30-year Treasury yield breaks above the 5.64% level hit on September 30, or Bitcoin continues to face resistance near $82,500, Wintermute will turn cautious. This week, focus will be on the U.S. September CPI data, due Wednesday, to assess whether energy inflation is spreading to core inflation, as well as earnings results from financial institutions and AI-related companies.

Russia’s largest lender Sberbank has been approved to conduct cryptocurrency transactions, marking Moscow’s further integration of crypto trading and custody services into its regulated financial system. The Central Bank of Russia has added Sberbank to its registry of cryptocurrency transaction service providers. Earlier this month, the bank was included in the digital depository institution list, enabling it to record customers’ crypto asset holdings. Currently, the registry of crypto transaction service providers comprises 9 institutions.

Beating AI Express: The Trump administration plans to transfer three senior officials from the U.S. AI model testing body CAISSI to the White House, where they will report directly to Michael Kratsios, White House Director of Science and Technology Policy, and Sean Cairncross, National Cyber Director. Previously, the administration had considered relocating the entire agency to the White House, but ultimately opted to adjust only some of its senior leadership. The transfers have not yet been completed, and the identities of the three officials remain undisclosed. CAISSI, part of the U.S. Department of Commerce’s National Institute of Standards and Technology (NIST), has around 40 employees and an annual budget of roughly $15 million, yet it undertakes critical model safety assessment work. According to sources familiar with the matter, the agency is collaborating with the U.S. National Security Agency (NSA) to test OpenAI’s Astra and Anthropic’s Mythos models ahead of their public release. It has also publicly assessed DeepSeek V4 Pro and Zhipu AI’s GLM-5.3 in the past. Google has confirmed that its Gemini 4 Argon model has participated in the U.S. government’s pre-release voluntary testing process. The agency has been in turmoil in recent years: since its establishment under the Biden administration, it has gone through three different names in less than two years. In July this year, its director Chris Fall resigned after just three months in the role, and no successor has been named to date. The White House hopes this adjustment will enable model testing experts to participate more directly in policy-making.

According to HTX market data, Ethereum has fallen below $2,500, with a 2.1% decline in the past 24 hours.

Beating AI News reports that the shooter game co-developed by Epic Games and Disney has been delayed. Originally scheduled for a March 2027 launch, no new release date has been set. The game will feature Marvel and Star Wars characters, but the development team has received a radical new mandate: a full "AI-first" approach, ditching handwritten code in favor of AI tools like Claude for generation. Game art must also be produced via an end-to-end AI workflow, with human developers handling guidance and oversight. This title was intended to be the first project in Epic and Disney’s multi-year collaboration plan. In 2024, Disney announced a $1.5 billion investment to take a stake in Epic, formalizing their long-term partnership. Sources familiar with the project revealed Epic underestimated the manpower and timeline required, leading to consistent development delays. During a video call last week, some staff were stunned by the new directive, with one joking: “If Claude writes faulty code, should Claude fix it itself?” Epic CEO Tim Sweeney later confirmed the company is making major adjustments to its development team to accelerate AI adoption. He stressed the goal is to let developers create more and better works, not to complete the same amount of work with fewer employees. However, Epic cut over 1,000 jobs back in March this year, and at the time, the company explicitly stated the layoffs were unrelated to AI. Skepticism toward AI in the gaming sector is deepening. A 2026 GDC survey shows 36% of respondents already use generative AI in their work, but the share of those who view it as having a negative impact on the industry has risen from 30% last year to 52%.

MediaMarktSaturn, parent company of European electronics retailer MediaMarkt, has pulled all Ledger products from its physical stores and online channels. A company spokesperson stated that it is in communication with the manufacturer, noting: “We take this matter very seriously.” Earlier, some users reported that two Ledger wallets purchased at different MediaMarkt outlets contained unauthorized cables and cellular modules. Earlier today, former Mt. Gox CEO Mark Karpelès publicly confirmed that a Ledger Flex bought at Metapod in Singapore’s airport had a spy module implanted inside it, underscoring the growing risks in the hardware wallet supply chain.