Arthur Hayes Reviews Japan's New Economic Policy: Will Propel Bitcoin to $1 Million

According to TradingBeats' monitoring, the Texas gubernatorial election has entered the vote-counting phase, with Democratic candidate Gina Hinojosa leading in released ballots, and her policy proposal to restrict large data center expansion has drawn attention. Hyperliquid computing power-related contracts weakened simultaneously; since 9 a.m. today, CoreWeave (CRWV) has fallen approximately 5.3% to $50.06, while IREN and CIFR dropped around 6.2% and 7.7% respectively. Hinojosa advocates suspending approvals for new data centers until the state legislature enacts regulations protecting residents' water, power, and community rights, while eliminating existing tax incentives for large data centers. CoreWeave still has large-scale computing power infrastructure pending delivery in Texas. Galaxy previously disclosed that its Helios data center campus in West Texas has delivered 133MW of critical IT load to CoreWeave, with an additional 260MW phase two project under construction, expected to start delivery in the first half of 2027. Future changes to data center regulatory policies may impact the expansion and delivery schedules of local projects. According to TradingBeats' monitoring, during the decline of computing power stocks, trader 0xa290 established a new short position of approximately $500,000 in CRWV via a 30-minute TWAP trade. The account currently holds positions worth around $491,400, with an average entry price of $50.28, using 10x isolated leverage, and a liquidation price of $52.69.

Cryptocurrency exchange BitMart, which has announced its shutdown and is proceeding with reorganization and liquidation, founder Sheldon Xia confirmed in a post that BitMart was also hacked yesterday. The incident involved a small sum of funds; the team has swiftly launched an investigation and strengthened security defenses. Preliminary investigations indicate that yesterday’s hack may have been carried out by the same group that attacked Brazil’s Bitcoin market operator Mercado Bitcoin on the same day.

According to data from election prediction organization Decision Desk HQ (DDHQ), Democrat Amy Acton is projected to win the Ohio gubernatorial election, a seat previously held by a Republican.

Insight Beating AI News Flash: OpenAI CEO Sam Altman publicly posted his opposition to a future where humans live in ways AI considers worthy of reward, with AI deciding what returns to grant. In his view, humans must always retain control over the future; even if that requires limiting the development of superintelligence, decision-making power must not be ceded. Altman did not name names, but the statement he cited directly comes from Anthropic CEO Dario Amodei’s 2024 essay *Machines of Loving Grace*. Amodei raised a question at the time: If AI eventually becomes better than humans at nearly all tasks, and is cheap enough to render humans economically uncompetitive, how will society function? He discussed several possible solutions, including universal basic income, and an economic model where AI generates massive wealth then distributes resources based on human behaviors it deems worthy of reward. In this latter scenario, humans may no longer need to work for a living, but the amount of resources they receive will depend on AI’s evaluation of their actions. However, Amodei did not put forward this mechanism as a formal proposal. He acknowledged all these plans have serious flaws, and warned of potential exploitation and dystopian outcomes.

According to the latest data, in the U.S. Senate election in Texas, Democratic candidate James Talarico holds an 11-point lead over Republican Ken Paxton. While full vote counting remains incomplete, Decision Desk HQ (DDHQ) has declared Talarico the winner — the first time Democrats have claimed a Texas U.S. Senate seat since 1988. Data from Predict.fun indicates that major mainstream prediction markets now assign a 100% win probability to Democratic candidate James Talarico. CNBC cited analyst assessments noting that the scenario most concerning to markets is "Talarico winning the Senate seat while Hinojosa defeats Abbott to take the governorship" — a combination that would significantly amplify negative implications for AI trading. Incumbent Republican Governor Abbott suspended data center permits in September, but widespread analysis expects he would lift the ban if re-elected, whereas Hinojosa is projected to maintain or even strengthen restrictions. Wells Fargo estimates that roughly 27% of the U.S.'s AI data center gigawatt capacity is concentrated in Texas. Thanks to its lenient regulatory environment, abundant energy resources, and tax incentives, Texas has emerged as a core hub for AI infrastructure expansion. A policy shift in Texas would carry both symbolic significance and tangible capital expenditure impacts that extend beyond state lines. Driven by this bearish news, U.S. stock futures saw the Dow Jones Industrial Average fall 1.24% and Nasdaq 100 futures drop 2.18%.

A NewsNation White House correspondent said U.S. President Donald Trump gave his first response to the midterm election results, conveying to voters the message to pretend he was on the ballot. Trump had previously stated, "I am not running. If I were running, we would win by a landslide!"