Cardano Founder Proposes Converting $100 Million Worth of ADA into BTC and Stablecoins

S&P Global Ratings said data centers face risks of credit rating downgrades due to construction halts and project cancellations triggered by U.S. public opposition. In a Friday report, S&P analysts including Chris Mooney noted that project delays stemming from limited grid capacity, environmental sustainability disputes, and land use zoning policy adjustments could further escalate credit risks for data center projects. The report focused on construction suspension measures in New York, Texas, Pennsylvania, Illinois, and Arizona, tracking 146 delayed or canceled data center projects across the U.S., around three-quarters of which are linked to local resident opposition. The data center construction boom has drawn widespread attention in recent months. The report added that local governments in 40 U.S. states have introduced relevant bans. Public concerns mainly center on issues such as energy costs, water scarcity, air pollution, and noise pollution. S&P pointed out that the actual impact of these factors on credit ratings remains limited for now. However, the report warned that if construction halts, approval slowdowns, or potential policy reversals lead to significant project delays, developers may need to offer rent abatements to tenants, or even face risks of early contract terminations by tenants, which would in turn damage the projects' credit profiles. (Jinshi)

According to Bloomberg, as Bitcoin prices trade in a range, trading of crypto-related event contracts in prediction markets continues to heat up. Data compiled by Dune Analytics users shows that last week, the notional trading volume of crypto-related contracts on Kalshi and Polymarket hit $2.7 billion, a record high. Among these, short-term Bitcoin price up/down contracts are the most popular, allowing users to bet on whether Bitcoin or other assets’ prices will rise or fall at the end of time windows such as 5 minutes and 15 minutes. A single 15-minute Bitcoin contract on Kalshi can see trading volumes exceeding $1 million, with some traders using trading bots to seek opportunities seconds before contract expiration. Cryptocurrencies have become the second-largest contract category on both Kalshi and Polymarket, trailing only sports. Trading volumes of Bitcoin year-end price contracts on the two platforms are also substantial: as of Thursday, Kalshi’s related contracts saw over $42 million in volume, while a Polymarket contract predicting Bitcoin’s 2026 price recorded around $78 million in trading volume. Crypto trading platforms including Coinbase, Crypto.com, Gemini, and Kraken are actively expanding into prediction markets; some have obtained relevant business authorizations in the U.S., while others are applying for licenses. Bloomberg notes that prediction markets offer new business growth avenues for crypto trading platforms, though legal disputes and regulatory uncertainties surrounding sports contracts could also impact the industry’s future development.

After over a year of inactivity, an institution moved 156,690 $AAVE ($22.86M) and 19.74M $WLD ($10.04M) to sell. So far, it has deposited 62,000 $AAVE ($9.12M) and 19M $WLD ($9.67M) into exchanges.

According to HTX market data, Bitcoin has rebounded to break through $81,000, with its 24-hour decline narrowing to 0.98%.

Beating AI News: Anonymous tech personnel tracking account Arfur Grok posted that Thariq Shihipar, an engineer on Anthropic’s Claude Code team, has left the company. Thariq is a prominent technical representative of the Claude Code team. In March this year, he announced the launch of Claude Code’s voice mode. In July, he revealed on the official blog that the team cut Claude Code’s system prompt by over 80% without any measurable loss in programming benchmark performance. He also frequently explains product mechanisms and responds to user disputes on X. Interestingly, Thariq joked back in July 2025 that he joined Anthropic after seeing an Opus bill. News of his departure has since sparked a playful quip: “He quit because he can finally afford the Opus bill.” However, Thariq previously clarified in an interview that what really drew him to Anthropic was the performance of Claude Code and Opus 4.

As capital expenditure by AI giants continues to surge, the market is questioning whether related investments can generate sufficient returns. The US tech sector is under pressure, with funds accelerating flows into US Treasuries. The Nasdaq 100 index notched its worst two-week performance since April 2025, with a basket of AI-related stocks falling 4.9% this week, and Meta’s share price dropping over 9% in a single week. In the bond market, the 10-year US Treasury yield briefly climbed to 5.14% at the start of the week before retreating rapidly, closing at 4.97% on Thursday – marking its first dip below 5% in a month. This month, bond ETFs saw inflows of around $58 billion, accounting for 38% of total ETF inflows, reflecting rising investor defensive sentiment. The core market concern is that AI firms and governments globally are expanding their financing needs simultaneously, competing for limited capital resources. Anthropic has committed up to $750 billion in compute spending over the next several years, while Meta also plans to invest heavily in compute and AI infrastructure. Meanwhile, the US government’s ongoing bond issuance is exacerbating capital supply-demand strains. The credit market is also showing signs of stress: the credit risk gauge for US investment-grade corporate bonds rose to its highest level since March, and yields on CCC-rated bonds hit 15.85%, the highest since 2020. Analysts argue that AI’s long-term growth prospects are not equivalent to short-term investment returns. As capital costs rise, firms with weaker financing capabilities may face pressure first, and the market is reassessing risks tied to high-valuation assets.