The overnight session on October 16 presented a mixed picture, shaped by rapid AI advances and the latest moves from OpenAI and JPMorgan Chase & Co. (JPM.US), with macro policy expectations and crypto asset access taking center stage.
The probability that the Federal Reserve keeps rates unchanged in October stands at 71.8%, pointing to a more cautious monetary policy stance.
At the same time, the valuation logic for the AI sector is being reworked, as some investors cut their valuation estimate for Anthropic to $1.5 trillion, reflecting a reassessment of the premium placed on technology giants.
Access to crypto markets and capital activity are accelerating in tandem.
The Charles Schwab Corporation (SCHW.US) has launched retail trading in bitcoin and ether, lowering the barrier for individual investors to participate.
MSCI Inc. (MSCI.US) plans to remove bitcoin treasury companies such as Strategy (MSTR.US) from its global equity indexes, raising concerns about allocation structures.
Data compiled by Woofun AI shows that Binance.US is seeking to raise $100 million at a $1 billion valuation, aiming to expand its U.S. crypto business.
On the geopolitical and regulatory front, Russia's central bank has banned withdrawals from regulated crypto accounts to self-custody wallets, tightening capital controls.
On the legislative side, final rules for implementing the GENIUS Act are expected before the end of October, with the compliance framework set to take effect soon.
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