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Singapore's state investor flags shaky AI returns and stubborn prices even as it plans to expand its own AI exposure One of Asia’s largest investors just named the two things most likely to ruin …

Singapore's state investor flags shaky AI returns and stubborn prices even as it plans to expand its own AI exposure One of Asia’s largest investors just named the two things most likely to ruin next year for global markets: artificial intelligence and inflation. Temasek’s investment chief, Rohit Sipahimalani, singled out the pair as the biggest risks ahead. The firm still plans to put a much bigger share of its money into AI, which is a bit like a lifeguard warning about rip currents while wading further out. What Temasek is actually worried about Sipahimalani’s concern centers on the wave of US capital expenditure flowing into AI infrastructure. Companies are spending heavily on the data centers, chips and power needed to run AI systems. His warning is about what happens if that spending fails to pay off. If the expected returns don’t show up, he cautioned, valuation pressure could trigger significant market disruption. He made the comments in discussions around the Temasek Review 2026, the firm’s annual look at its portfolio. Interviews in July 2026 put US capex front and center as a risk factor. Inflation is the second half of the warning, and the two risks are more connected than they look. Investors have noted that AI-driven demand for semiconductors and energy is feeding into higher prices. Advertisement That inflation, in turn, pushes up investment hurdle rates. A hurdle rate is the minimum return a project needs to be worth funding. When it rises, fewer deals clear the bar. Cautious, but still buying None of this has Temasek heading for the exits. The firm aims to raise AI-related investments to 15% of its portfolio by 2031, up from approximately 6% today. AI, tech, and the markets they move—in one daily briefing. Daily. Free. Join 34,000+ readers across crypto, finance, and policy. Email address Subscribe free We respect your privacy. Unsubscribe anytime. That would mean more than doubling its relative exposure in roughly five years. The strategy pairs that expansion with an emphasis on keeping the overall portfolio resilient against rising inflation, interest rates and broader economic uncertainty. Temasek is doing this from a position of strength. Its net portfolio value hit a record S$518 billion (approximately US$401 billion) as of March 31, 2026, a 10.5% increase from the year before. Singapore’s regulators are sounding similar alarms Temasek is not the only voice in Singapore raising these flags. The Monetary Authority of Singapore, the city-state’s central bank, has issued its own warnings in its Financial Stability Review. MAS pointed to inflated capital costs stemming from AI spending. It also warned of potentially severe fiscal pressures if an AI downturn were to hit. The central bank put numbers to that concern. A stress test it conducted on September 22, 2026, found that 32% of Singapore-listed firms could face significant revenue shocks in a severe AI downturn. A recent report from the ASEAN+3 Macroeconomic Research Office, known as AMRO, highlighted that Asian economies are disproportionately exposed to the possible fallout once the AI boom cools. What this means for investors The most direct takeaway is that big institutional money is starting to separate AI enthusiasm from AI pricing. Temasek’s message is not “avoid AI.” It is “build a portfolio that survives if AI disappoints.” The inflation link deserves close watching. If AI demand keeps pushing up chip and energy costs, it could keep price pressures and interest rates elevated longer than markets would like. For Asian markets specifically, the warnings from MAS and AMRO raise the stakes. Economies tied closely to semiconductor supply chains and AI-related demand could feel a slowdown more sharply than others. The key things to track from here are whether US AI capex begins to produce visible returns, whether inflation in chips and energy eases or persists, and how central banks respond.

The Bridgewater founder says hyperscalers turning to debt and a rising need for cash mirror the setups before 1929 and 2000 Ray Dalio thinks the AI trade is running out of runway. In an …

The Bridgewater founder says hyperscalers turning to debt and a rising need for cash mirror the setups before 1929 and 2000 Ray Dalio thinks the AI trade is running out of runway. In an October 6, 2026 interview with Bloomberg Television, the Bridgewater Associates founder said the AI market looks like a bubble getting close to its burst point. His reasoning is not that the technology is overhyped. It is that the money behind it is getting more expensive, and some of the biggest spenders now need cash. What Dalio actually said Dalio described current conditions as showing “classic signs” of a bubble. He put the AI boom alongside two famous precedents: the 1929 stock market crash and the dot-com bubble of 2000. The core of his argument centers on the hyperscalers. That is the industry term for the giant firms pouring capital into AI infrastructure at scale. According to Dalio, these companies are increasingly turning to debt financing rather than raising equity. He tied that shift to rising borrowing costs and growing cash needs. The three signals he is watching Dalio laid out specific indicators that, in his view, tend to show up when a bubble starts to unwind. Advertisement The first is forced selling to raise cash. When investors or companies must liquidate assets to cover obligations, prices fall because of need, not because of changed opinions. The second is a surge in new stock supply. Heavy issuance floods the market with shares, which can dilute existing holders and soak up the demand that was lifting prices. AI, tech, and the markets they move—in one daily briefing. Daily. Free. Join 34,000+ readers across crypto, finance, and policy. Email address Subscribe free We respect your privacy. Unsubscribe anytime. The third is rising retail leverage. When everyday investors borrow more to buy into a trend, any downturn gets amplified as margin calls force them out. The bigger debt picture Dalio’s AI warning sits inside a broader concern about borrowing across the US economy. He pointed to federal debt topping $40 trillion as of August 2026. He has suggested the financial system could face a significant debt crisis within the next three years if current trends continue. The connection to AI is straightforward. Higher rates make government debt costlier to carry, and they make corporate debt costlier too, including the borrowing hyperscalers now lean on. Innovation versus valuation Dalio was careful to separate two ideas that often get blended together. He acknowledged that artificial intelligence itself could be transformative. What he questioned is whether AI stock prices reflect the economic productivity the technology will actually generate. In his view, the rush of investment into AI-related sectors may be running ahead of that reality. What this means for investors The most actionable part of Dalio’s warning is the financing shift. When major AI spenders move from equity to debt, they take on fixed obligations that must be serviced regardless of how AI revenue develops. If rates keep rising, those interest costs could pressure margins. That raises the risk of financial strain, and potentially the kind of forced selling Dalio flagged as an unwinding signal. For investors, his three indicators offer something more concrete than vibes. Watching for heavy share issuance, signs of forced liquidation, and climbing retail margin debt gives a checklist rather than a gut feeling.

Coinbase has announced the acquisition of Deribit, a prominent crypto-derivatives platform, and integrated its products into the Coinbase ecosystem. This move is part of Coinbase’s strategy to enhance its derivatives offerings, making them available …

Coinbase has announced the acquisition of Deribit, a prominent crypto-derivatives platform, and integrated its products into the Coinbase ecosystem. This move is part of Coinbase’s strategy to enhance its derivatives offerings, making them available to U.S. institutional clients through Coinbase Prime. As part of the integration, Coinbase has launched new derivatives products and tools, including USDC-settled contracts and a new matching engine. This development marks a significant consolidation of Coinbase’s spot, futures, perpetuals, and options into a unified platform, potentially bolstering market activity and interest in the Ethereum ecosystem. Key Takeaways Coinbase’s acquisition of Deribit and integration of its products appears to strengthen its derivatives platform. The development suggests a potential boost to Ethereum-related market activity, consistent with increased interest in Ethereum reaching $10,000. Market pricing implies a moderate increase in the probability of Ethereum reaching higher price thresholds by the end of 2026. What to Watch Watch for further announcements from Coinbase regarding new derivatives products or tools, as these could impact market perceptions. Key indicators to monitor include any changes in derivatives volumes on the Coinbase platform and reactions from major financial institutions like BlackRock and Fidelity. Developments in regulatory environments for crypto derivatives in the U.S. could also influence market dynamics, potentially affecting Ethereum price predictions.

The asset manager's digital assets director says tokenized fund shares could be posted as collateral without redemption or multi-day cash waits Collateral has always moved at the speed of paperwork. BlackRock thinks it can …

The asset manager's digital assets director says tokenized fund shares could be posted as collateral without redemption or multi-day cash waits Collateral has always moved at the speed of paperwork. BlackRock thinks it can move at the speed of a blockchain. Nikhil Sharma, BlackRock’s Director of Digital Assets, says tokenized money market funds could be posted as collateral directly. That means no redemption step and no waiting days for cash to settle. Sharma is on the speaker lineup for TOKEN2049 Singapore 2026, set for October 7-8 at Marina Bay Sands. His focus is tokenized money market funds (tMMFs) and stablecoins. What Sharma is actually proposing Under the traditional model, an institution holding money market fund shares typically redeems them for cash before using that cash as collateral. The redemption and settlement cycle can take days. During that window, capital sits idle. The tokenized version skips the detour. Fund shares exist as tokens, so the position itself can be transferred on-chain to a counterparty. The holder keeps earning the fund’s yield, and the counterparty receives an asset it can hold or move. Advertisement BlackRock’s broader aim is to let tMMF positions move directly on-chain without the usual cash settlement wait. BlackRock’s tokenization buildout Sharma took the digital assets director role in December 2025. The news moving money, markets, and the world—before your day starts. Daily. Free. Join 34,000+ readers across crypto, finance, and policy. Email address Subscribe free We respect your privacy. Unsubscribe anytime. On August 3, 2026, BlackRock launched two new tokenized funds: BSTBL and BRSRV. Both are targeting eligibility as reserve assets under the US GENIUS Act, the federal framework for stablecoins. BRSRV is built specifically for stablecoin reserves and digital-native institutions. Both products build on BUIDL, the tokenized fund BlackRock introduced in March 2024. BUIDL currently manages around $2.5 billion in assets. BlackRock has rolled out tokenized share classes for its European UCITS money market funds, which totaled $311 billion in assets under management as of June 30, 2026. For the operational layer, BlackRock is working with J.P. Morgan’s Kinexys platform. The collaboration supports 24/7 peer-to-peer transfer capabilities. Why it matters for institutions and crypto markets The collateral use case is arguably the most practical argument for tokenized funds yet. Capital that stays productive while it secures a trade is better. For institutions managing margin across multiple venues, removing a multi-day cash cycle could reduce the buffer they need to keep on hand. Crypto markets have a direct stake in this. Exchanges, lenders and derivatives venues all need collateral, and tokenized money market fund shares offer a yield-bearing, regulated alternative to holding idle stablecoins. If BSTBL and BRSRV achieve reserve asset status, stablecoin issuers gain a compliant home for their backing assets from the world’s largest asset manager. That eligibility is a target, not a done deal, and investors should treat it accordingly. Firms including Fidelity and Invesco are pursuing similar tokenization efforts. Partnerships and industry trials are part of how these products are reaching professional investors. There are open questions. Collateral only works if the receiving party accepts it, so adoption depends on exchanges, clearinghouses and counterparties agreeing to take tokenized fund shares. Legal treatment, custody arrangements and operational resilience during market stress will all get tested before this becomes routine.

The company has gone from weighing Bitcoin to buying $25 million worth. Robinhood has joined the list of public companies adding Bitcoin to their balance sheets. The brokerage acquired $25 million worth of Bitcoin …

The company has gone from weighing Bitcoin to buying $25 million worth. Robinhood has joined the list of public companies adding Bitcoin to their balance sheets. The brokerage acquired $25 million worth of Bitcoin as it broadens its crypto offerings and seeks to demonstrate its long-term commitment to the sector, according to Johann Kerbrat, senior vice president and general manager of crypto and international at Robinhood. Gloria Ask anything about any stock — Gloria Finance gives you a complete, data-backed answer in seconds. Ask Gloria → Advertisement He disclosed the purchase during an appearance on The Starting Block during the Digital Asset Summit (DAS) Asia conference on Wednesday. Kerbrat said the investment was aimed at bringing Robinhood’s balance sheet and corporate vision closer to the crypto ecosystem, while noting that the purchase would not materially change the company’s trajectory. AI, tech, and the markets they move—in one daily briefing. Daily. Free. Join 34,000+ readers across crypto, finance, and policy. Email address Subscribe free We respect your privacy. Unsubscribe anytime. The purchase follows comments from Shiv Verma, Robinhood’s chief financial officer, who said during the company’s Q3 2025 earnings call that executives were weighing whether to hold Bitcoin on the corporate balance sheet. Verma said at the time that the company was assessing the pros and cons of a crypto treasury strategy alongside competing priorities such as new products, growth and engineering investment. Robinhood is also expanding its digital asset infrastructure and products, with plans to offer perpetual futures to eligible US users and continue developing Robinhood Chain. The layer 2 has more than $1 billion in total value locked, while Stock Tokens allow eligible users to trade tokenized equities 24/7.

Nvidia Stock Price Target Splits Crypto Punters: Here's Where They See the Chip Giant Going in October Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. …

Nvidia Stock Price Target Splits Crypto Punters: Here's Where They See the Chip Giant Going in October Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. Cryptocurrency bettors aren't fully bought into NVIDIA … Nvidia Stock Price Target Splits Crypto Punters: Here's Where They See the Chip Giant Going in OctoberBenzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links bel…

Yemen’s Houthi movement has claimed responsibility for a drone strike targeting King Khalid International Airport in Riyadh. While the Houthi military spokesperson, Yahya Saree, stated that the group used multiple weapons in attacks across …

Yemen’s Houthi movement has claimed responsibility for a drone strike targeting King Khalid International Airport in Riyadh. While the Houthi military spokesperson, Yahya Saree, stated that the group used multiple weapons in attacks across Saudi Arabia, the Saudi authorities have yet to confirm any strike on the Riyadh airport. The incident follows a series of reported attacks on other Saudi airports, including those in Najran and Jizan, which resulted in minor injuries and property damage. The lack of immediate confirmation from Saudi Arabia leaves the Riyadh-specific claims unverified, although the kingdom has condemned Houthi actions against civilian and economic sites. Key Takeaways The Houthi claim of a drone attack on Riyadh appears to suggest an escalation in conflict, which could impact regional stability. Market pricing suggests the likelihood of Houthi forces entering Aden by October 31 remains at 11.5%, down from 14% a day ago, indicating skepticism about immediate advancements. The December 31 odds for Houthi entry into Aden stand at 29.5%, reflecting a more sustained potential for military escalation over a longer horizon. What to Watch Observers will be keenly watching for any official confirmation or denial from Saudi authorities regarding the alleged strike on King Khalid International Airport. Further developments in Houthi military actions could influence the probability of their forces entering Aden, especially if the conflict intensifies. Additionally, any diplomatic responses or military counteractions by Saudi Arabia could alter the current market outlook. The situation remains fluid, with potential for significant shifts depending on how events unfold in the coming days.

The relaunched Coinbase Pro will sit inside the new Coinbase Global Exchange, built on Deribit's derivatives infrastructure Coinbase Pro is coming back. This time it lives inside something much bigger than the old trading …

The relaunched Coinbase Pro will sit inside the new Coinbase Global Exchange, built on Deribit's derivatives infrastructure Coinbase Pro is coming back. This time it lives inside something much bigger than the old trading interface ever was. On October 6, 2026, Coinbase announced that the Pro platform will return as part of the newly formed Coinbase Global Exchange. That exchange grew out of the company’s acquisition of Deribit, and the revived Pro product is set to launch by the end of 2026. What the new Coinbase Pro includes The relaunched platform targets high-volume traders. Coinbase is stacking spot, futures, perpetuals, options and equities into one place. The company is also promising faster order routing. Better routing means orders reach a matching venue more quickly, which matters a great deal to traders working on thin margins. Margin is the other headline feature. Spot margin trading is set to launch soon after the October 6 announcement, with up to 10x leverage on major assets and up to 5x on others. Advertisement The access rollout is staggered by region and client type. US institutional clients are expected to reach global derivatives through Coinbase Financial Markets. Eligible traders outside the US are slated to gain options access soon. US retail users are expected to get access later in the year. Deribit becomes the engine room The relaunch only makes sense in light of the Deribit deal. Coinbase acquired the derivatives exchange in August 2025 for approximately $2.9 billion. The news moving money, markets, and the world—before your day starts. Daily. Free. Join 34,000+ readers across crypto, finance, and policy. Email address Subscribe free We respect your privacy. Unsubscribe anytime. The plan has been to consolidate derivatives trading on Deribit’s infrastructure. Coinbase is also merging liquidity pools for US and international markets. A key step in that process wrapped up on October 1, 2026. Clients of the Coinbase International Exchange were migrated to Deribit, and the legacy platform switched to read-only mode. Deribit brings serious scale to the arrangement. As of September 30, 2026, it held over $30 billion in Bitcoin options open interest. Deribit also processed more than $1 trillion in trading volume in the year leading up to October 2026. The single liquidity pool pitch Coinbase made the announcement at the Token2049 event. Its central claim is that the integration creates the first-ever connection of US and international derivatives markets into a single regulated liquidity pool. What this means for traders and the market For active traders, the most immediate story is consolidation. One account could eventually cover spot positions, perpetual swaps, options hedges and equities exposure. The margin rollout also puts Coinbase in more direct competition for leverage-seeking traders. Offering up to 10x on major assets is a meaningful step for a company that has long positioned itself as the compliance-first option. The Pro launch is targeted for the end of 2026, and several features, including options access for US retail, are described as expected rather than live. The completed migration of the International Exchange onto Deribit is a concrete sign the integration is moving forward. The read-only switch on the legacy platform suggests Coinbase has committed to the new architecture. Key milestones ahead include the spot margin launch, options access for eligible non-US traders and the arrival of US retail access. The full Coinbase Pro relaunch, slated for the end of 2026, will be the clearest test of whether the roughly $2.9 billion Deribit bet is paying off.

A sharp flash crash pushed Bitcoin to its lowest level since April and wiped out leveraged bulls across major tokens Bitcoin dropped nearly $2,000 in about 20 minutes, and roughly $400 million in leveraged …

A sharp flash crash pushed Bitcoin to its lowest level since April and wiped out leveraged bulls across major tokens Bitcoin dropped nearly $2,000 in about 20 minutes, and roughly $400 million in leveraged long bets went up in smoke along the way. On October 6, 2026, Bitcoin slid more than 5% intraday. It fell from approximately $71,765 to $67,895, its lowest point since April of this year. The liquidation cascade, by the numbers According to Coinglass data, about $394 million in positions were liquidated within a single hour. Of that total, around $384 million came from long positions, meaning traders betting that prices would rise. Bitcoin traders absorbed the largest share of the damage, with about $209 million liquidated. Ethereum followed with roughly $87 million, while Solana saw around $27 million and XRP about $11 million. Zoom out to a 24-hour window and the figure grows considerably. Total liquidations across the market reached approximately $1.02 billion, again driven mostly by longs. Advertisement In crypto derivatives, a liquidation occurs when a leveraged trader’s collateral can no longer cover their losses, and the exchange automatically closes the position by selling it into the market. Those forced sales push prices lower, lower prices trigger the next batch of liquidations, which push prices lower still. What lit the fuse The selloff began with a technical breakdown. Bitcoin slipped below key on-chain support levels, the price zones where buyers had previously stepped in to defend the market. The news moving money, markets, and the world—before your day starts. Daily. Free. Join 34,000+ readers across crypto, finance, and policy. Email address Subscribe free We respect your privacy. Unsubscribe anytime. A small corporate sale added to the gloomy mood. Strategy, the company formerly known as MicroStrategy and the largest corporate holder of Bitcoin, sold 32 BTC worth about $2.5 million to help fund dividend payments. Broader macroeconomic pressure was also in the mix. Factors cited around the move included capital rotating toward AI-focused equities, strong labor market readings, rising energy prices, and fading hopes for near-term interest rate cuts from the Federal Reserve. A familiar pattern in a new month This episode follows a script crypto traders know well. Leveraged positions in perpetual futures, contracts that let traders bet on price without an expiry date, can magnify what would otherwise be an ordinary decline in the spot market. The fall to $67,895 also carries technical weight of its own. Revisiting levels last seen in April suggests the market has given back a meaningful chunk of its gains from the intervening months. What this means for traders and investors When about $384 million of the roughly $394 million liquidated in an hour comes from longs, it signals that optimism had become crowded and fragile. For spot holders who do not use leverage, events like this are painful but survivable. For leveraged traders, position sizing and margin buffers are the difference between riding out a dip and getting erased by it. Strategy’s dividend-related sale is worth watching too. The question is whether the company’s need to fund dividends becomes a recurring source of small sales, and how the market interprets that signal from Bitcoin’s most visible corporate believer. After a flush like this one, a large portion of overextended leverage has already been cleared out. Traders will be looking at whether Bitcoin can reclaim the support levels it lost, or whether those former floors now act as ceilings.

On-chain trackers flagged the transfers to Coinbase Prime and an unlabeled address, but the market barely blinked The US government shuffled more than $103 million in crypto on October 7, 2026, and the market …

On-chain trackers flagged the transfers to Coinbase Prime and an unlabeled address, but the market barely blinked The US government shuffled more than $103 million in crypto on October 7, 2026, and the market collectively shrugged. Wallets linked to US authorities sent 833.6 BTC and 40,285 BNB out the door within a nine-hour window. On-chain analysts at EmberCN, Resonance, Arkham, and Lookonchain all flagged the activity as it happened. Where the money went The two assets took very different routes. The Bitcoin went straight to Coinbase Prime, the institutional custody and trading arm of the US exchange. That batch of 833.6 BTC was valued at roughly $71.56 million at the time. The BNB took the scenic route. The 40,285 tokens, worth approximately $31.63 million, hopped through several intermediary transactions before landing at an unlabeled address, 0xBE7…81E. Together, the two transfers add up to approximately $103 million. That sounds like a lot until you look at what is still sitting in the government’s wallets. Advertisement A drop in a very large bucket US government-linked addresses are now estimated to hold around $28 billion in assets. Bitcoin makes up the overwhelming majority of that pile. Those wallets hold about 324,000 BTC, valued at approximately $27.7 billion at current prices. The 833.6 BTC moved this week represents well under 1% of that stash. The news moving money, markets, and the world—before your day starts. Daily. Free. Join 34,000+ readers across crypto, finance, and policy. Email address Subscribe free We respect your privacy. Unsubscribe anytime. This is not the first sizable movement from these wallets either. A separate transaction involved approximately 264,863 BTC tied to the 2016 Bitfinex hack, one of the most notorious thefts in crypto history. Why Bitcoin and BNB get treated differently The split routing is not random. It reflects a policy distinction between the two assets. Executive orders restrict the sale of Bitcoin held as part of the US strategic reserve. In plain terms, the government has committed to holding its Bitcoin rather than dumping it. Forfeited tokens like BNB fall into a different bucket. The same framework permits more discretionary handling of those assets, which gives authorities more room to move, consolidate, or potentially liquidate them. The current read on these movements is that they represent routine custody or consolidation work, not a change in strategy. What this means for traders and the market The government’s long-term holding approach for Bitcoin is unlikely to trigger sharp price swings from transfers of this size. Restrictions on selling reserve BTC act as a kind of pressure valve, limiting the supply overhang fears that once accompanied every government wallet alert. BNB is the more interesting asset to watch. Because forfeited tokens are subject to discretionary handling, they could present liquidation opportunities down the line. The multi-hop routing of the BNB also deserves attention. Funds that pass through several intermediary addresses before settling somewhere unlabeled tend to draw scrutiny, since that pattern sometimes precedes an exchange deposit. Where 0xBE7…81E sends those tokens next will be worth monitoring. For now, the key signals to track are any changes to the executive order framework governing the Bitcoin reserve, and any movement of forfeited non-Bitcoin assets toward exchanges.