Metaplanet issued 52 billion yen in zero-coupon convertible bonds to repay Bitcoin-collateralized loans and repurchase shares.

According to Bloomberg, the plunge in shares of AI cloud computing firms is spilling over into tech stocks and the broader U.S. equity market. Since U.S. major indexes hit record highs on Oct. 6, CoreWeave’s stock has fallen 41%, while Iren and Nebius have dropped 40% and 36% respectively. Market concerns center on AI infrastructure firms’ heavy reliance on debt financing, with many expected to borrow more after reporting earnings. As U.S. Treasury yields rise and inflation persists, financing costs for these companies have climbed, while credit risk metrics for AI investments at some large tech firms have also hit new highs. Ohsung Kwon, chief equity strategist at Wells Fargo, warns that if cloud computing firms cut capital expenditure due to financing strains, the semiconductor industry will face a major hit. The Philadelphia Semiconductor Index has fallen 15% so far in October. Brian Reynolds, chief market strategist at Reynolds Strategy, says the sell-off has evolved from individual corporate events to macro risks, and forecasts the S&P 500 could retrace to its early-June lows, marking an additional ~4.7% drop from last Friday’s close. Meanwhile, concerns over an AI bubble and high-risk debt defaults continue to mount.

Mizuho Securities maintains an "Underperform" rating on Circle (CRCL), setting a target price of $43, roughly 48.1% lower than its current share price of $82.87. The brokerage warns that AI assistants may guide users toward higher-yield, insured alternative products, weakening USDC’s competitiveness. It projects this could exert $4 billion to $9 billion in downward pressure on USDC’s market capitalization, and cause Circle’s reserve revenue to decline by 10% to 20%. The firm also cuts Circle’s 2027 EBITDA forecast by around 5%.

Beating AI Express News (Insight) – According to Fox Business, citing sources, Anthropic is expected to file its S-1 registration document at 21:00 Beijing time (9:00 a.m. Eastern Time).

Meta Platforms (META.O) plans two concurrent underwritten public offerings to raise a total of approximately $35 billion, including about $22.5 billion in Class A common stock and $12.5 billion in Series A mandatory convertible preferred stock. According to reports, Meta's common stock offering will be conducted via forward sale agreements, while the preferred stock offering involves depositary shares representing the Series A mandatory convertible preferred stock. Relevant information shows Meta intends to issue up to 250 million Series A depositary shares. Additionally, NVIDIA, AMD, and Broadcom are each interested in purchasing up to $5 billion in Meta's stock. Meta's pre-market shares turned positive, up 1.12%.

Fundstrat co-founder Tom Lee expects Ethereum to reach $62,000 in the next crypto market cycle. Ethereum has previously recorded 50x to 200x gains across past crypto cycles. Even a more conservative 25x rally would push ETH’s price to roughly $62,000. Shareholders of BitMine (BMNR), the Ethereum holding company led by Lee, could also generate substantial returns from the ETH held by the firm under this scenario. It should be noted that the price target is a scenario projection, not a definitive prediction.

According to market data from BIT (Bit.com), Meta’s US pre-market stock fell by more than 4%. The company announced the launch of a $22.5 billion Class A common stock offering and a 250 million share preferred stock depositary share offering, which pressured its pre-market price.