Step 1: Degenerate traders pile into bitcoin with excessive leverage and hopes of generating lottery-sized returns. Step 2: Hedge fund traders flush bitcoin to the downside, causing 100% losses for degenerate leveraged traders while cleaning up on short side. Step 3: Bitcoin stabilizes and begins to recover, tempting degenerate traders with thoughts of trying again: “It’ll work this time, I’m certain of it. It’s a lock.” Step 4: Repeat step 1.

Arthur Hayes says he has “dumped it all,” closing all his crypto positions Roughly $26 million in sells have been tracked via wallets, including 8,000 ETH worth around $19 million Hayes says growing macro and geopolitical uncertainty is behind the move, warning that crypto may need to “go down to go up” He now plans to sit on the sidelines and wait for an “all clear” signal before getting aggressive again

FIDELITY: BITCOIN'S RUN FROM $100,000 TO $200,000 "MAY HAPPEN MUCH FASTER" Fidelity Digital Assets research analyst Zack Wainwright says Bitcoin was up nearly 50% from its June bear market low near $58,000 as of Oct. 12, tracking a path similar to its 2022 recovery. He cautions that returns have shrunk each cycle and that past performance doesn't guarantee future results, but says the potential for a large gain in dollar terms remains. "Although it took Bitcoin nearly 16 years to surpass 100,000 for the first time, the move from 100,000 to 200,000 may happen much faster."

SAMSON MOW: "Money was permissionless for 4000 years, Fiat is 50 years old... Fiat money is the experiment and this is why I'm very bullish on Bitcoin and I think we're going to see a million dollars a coin, we're going to see dollar-sat parity because it's a restoration of the natural order of things that you have permissionless money." "Bitcoin is what you can't be stopped from owning. And open source AI is what you can't be stopped from building. One is your sword and one is your shield. What this enables is that every person on earth, every machine can transact freely and think freely without needing to ask for permission."

Spot Bitcoin ETFs lost about $635.6 million on October 22. Bitcoin's 21 million supply limit didn't change by a single satoshi. Learn the difference between liquidity and scarcity.

🇺🇸 More Americans own Bitcoin than Gold!

LitVM is entering its next chapter 🔥 V2 expands the vision, connecting Litecoin to a much bigger world. More chains. More assets. More possibilities. More details next week.

L’application de messagerie BitChat, chiffrée et indépendante du réseau mobile, est désormais numéro 1 sur l’App Store dans la catégorie « réseaux sociaux ». Et dans le top 10 global.

SAMSUNG ANNOUNCED IT WILL ENABLE CRYPTO PAYMENTS TO 82,000,000 GALAXY DEVICES STARTING NEXT WEEK THE WORLD'S LARGEST SMARTPHONE COMPANY IS OFFICIALLY EMBRACING #BITCOIN AND CRYPTO THIS IS MASSIVE 🔥

🇫🇷 JACK DORSEY'S BITCHAT HITS NO. 1 IN FRANCE AFTER A NATIONWIDE MOBILE OUTAGE The offline messaging app topped France's App Store Social Networking chart on Thursday, ahead of Telegram and Signal, per Frandroid and iGeneration. It came a day after Orange, France's largest carrier, lost its mobile network nationwide for nearly 10 hours. French officials have also floated blocking social media in areas hit by protest looting. Bitchat sends messages phone to phone over Bluetooth, with no internet, cell signal or account needed. Protesters are installing it ahead of Saturday's demonstrations.

BREAKING: 🚨 JPMORGAN, BANK OF AMERICA, WELLS FARGO & OTHER MAJOR BANKS ARE DETECTING UNAUTHORIZED AI AGENTS ACCESSING CUSTOMER ACCOUNTS. 👀

I see your bearish #Bitcoin posts out there, anon, and raise you a McRib. IYKYK

VIA Labs: Supercharging LitVM’s Cross-Chain Layer 🔥 We’ve partnered with @VIA_Labs as an official cross-chain launch partner, bringing LitVM cross-chain messaging infrastructure and access to native $USDC. VIA connects 150+ chains via contract-to-contract messaging to move both tokens and data. As an official Circle partner, they implement Circle’s Bridged USDC Standard — with the VIA Router enabling direct USDC burns and mints across CCTP-connected networks. Lending markets, DEXs, yield vaults — any protocol on LitVM gets access to native USDC from day one. Not workarounds. Hard Money Web3 needs hard rails. VIA Labs delivers.

Chamath Palihapitiya: “I just think #Bitcoin is capped, and I think eventually it gets hacked. And then it goes to zero.”

FIGMA AI RESEARCH LEAD WARNS “BLACK OCTOBER” COULD MARK THE BEGINNING OF RAPID AI TAKEOFF John Milinovich warns that the unprecedented wave of cyberattacks sweeping across governments, banks, and major technology companies may signal a historic turning point for humanity. Milinovich, who describes himself as a 99th-percentile technology optimist, says AI models have reached the capabilities of the world’s most sophisticated programmers. However, AI can operate 24/7, with 10,000 agents working simultaneously toward the same objective. He warns that increasingly capable open-source AI models, particularly those developed in China, are giving malicious hackers the ability to launch attacks at a scale previously unimaginable. Meanwhile, he says breakthroughs in mathematics, computer science, materials science, and life sciences suggest AI progress may be accelerating far faster than society can adapt. “From everything that I can see and am feeling, we are currently experiencing the fast takeoff scenario.” Milinovich compares the atmosphere in Silicon Valley to scenes from Margin Call, where a handful of people realize a catastrophic event is unfolding before the rest of the world understands what’s happening. He warns that the risks are no longer theoretical, that society is dangerously unprepared, and that even those closest to the technology don’t know what to do. “I think October 2026 will have many chapters written about it in the history books.”

The U.S. blockade is strangling the Islamic Republic of Iran’s oil lifeline. By October 9, its floating reserves outside the blockade had collapsed by more than 99% from their March peak.

The internet is going into a LOCKDOWN. Hundreds of millions of websites are potentially at risk from cyberattacks. Governments, banks and major platforms have already taken their websites OFFLINE. Many are already calling it “Black October.” At the centre of the shutdowns is something most of us have never heard of, but use every day. PHP, the software behind roughly 7 in 10 websites, has two critical flaws that can let hackers break in without a password. Dubbed PHP2Shell, both are rated 9.2 out of 10 for severity. Details began circulating on Oct 20. Emergency fixes arrived the next day, but attackers were already moving. Cloudflare’s CEO says hacking attempts then jumped from thousands to MILLIONS within hours. Cybersecurity agencies across several countries are telling PHP site owners the same thing: Patch it now, or take it offline. Websites have gone dark worldwide, from government portals and hospitals to banks. CrowdStrike warns these attacks leave almost no trace, so some sites may not know if they’ve been hit. Around 2.6 MILLION internet-facing servers run PHP, potentially hosting hundreds of sites each. Over 1.1 million use older versions no longer receiving official PHP updates. Older installations may need an upgrade to a supported PHP version or a fix from their software provider. And patching does not remove a backdoor an attacker may already have planted. Cloudflare also says hackers are now tweaking their attacks to try to slip past its protections. But PHP isn’t the only security story unfolding. -Japan’s Onamae suspended ALL Desktop Cloud plans after malware was found on customer servers. -India’s eMudhra had 8 website-certificate keys so weak, one was literally the number “4”. -State Bank of India confirmed 3,897 customer records on the dark web. -Criminals used AI agents to break into 400+ Latin American banks. -Capcom confirmed a breach exposing 11.7 million email addresses. -GitLab disclosed a 10/10 severity flaw in versions going back to 2014. -LiteLLM removed a malware-containing release. Railway reported possible exposure of customer secrets. None of these has a confirmed link to PHP2Shell. We’re seeing separate breaches unfold together. The true number of incidents could take months to come out. The world is still on alert. Attacks are still coming.