CoinMarketCap CEO Rush steps down, Chief Product Officer David Salamon takes over

The altcoin market has recently shown clear signs of rotation, with capital shifting away from pure speculative trading toward projects with tangible revenue and real use cases. Over the past 30 days, PONS has surged over 350%, UNI is up more than 110%, ARB has risen over 150%, NEAR is around 180% higher, and ZEC briefly crossed $1,600 last week. Data from CoinMarketCap shows the Altcoin Season Index is currently at 64, a notable increase from last week’s 48, but still below the 75 threshold that confirms an "altcoin season". Talos data indicates that the top 10 altcoins by market cap now account for roughly 80% of the total altcoin market value, up from around 70% at the end of 2024, marking further concentration. Bankless host David Hoffman noted that recent high-performing tokens like ARB, UNI, JUP, and ONDO share a common trait: they generate revenue. Samar Sen, head of international markets at Talos, added that current capital is mainly concentrated in yield-generating protocols, on-chain perpetual contracts, and DeFi projects, while sectors including privacy, AI, tokenized assets, and meme coins are also drawing attention. Sen said the current market features "more selective" participation, with investors allocating funds around specific narratives and ecosystems rather than trading altcoins as a single unified asset class.

Insight Beating AI Flash News: According to a Wall Street Journal (WSJ) report, multiple top AI researchers are calling on policymakers to investigate the increasingly automated research processes of AI labs, warning that highly autonomous AI systems could pose serious risks if left unregulated. The report notes that co-authors of the research paper include AI researchers from companies such as OpenAI, Anthropic, Meta, and Microsoft. The researchers argue that as AI systems gradually gain the ability to independently conduct experiments, write code, and advance scientific research, their autonomy and associated potential risks are rising in tandem. Some researchers further warn that without sufficient constraints on highly autonomous AI research, the technology could, in extreme cases, pose a threat to human survival.

According to Reuters, if the Democratic Party takes control of the House of Representatives or the Senate after the November midterm elections, it is expected to launch investigations into business transactions related to former President Trump and his family, with a focus on the Trump family’s involvement in cryptocurrency, prediction markets, and investment businesses, as well as companies that funded White House projects. The report notes that controlling either chamber of Congress would give Democrats more committee investigation resources and subpoena power, with some probes potentially launching as early as February next year. Current frequently mentioned targets of Democratic lawmakers’ investigations include Donald Trump Jr.’s venture capital firm 1789 Capital, and cryptocurrency enterprises linked to the Trump family, though a final investigation list has not yet been finalized. Additionally, Republican Senator John Curtis has previously called for investigations into some of Donald Trump Jr.’s business relationships, arguing that the commercial activities of the president’s family should be subject to consistent congressional oversight.

According to market data from BIT (bit.com), NVIDIA (NVDA.O) rose as much as approximately 3.6% intraday, marking its largest single-day gain since September 2. On the news front, NVIDIA received multiple positive developments today. The company’s current portfolio comprises 13 publicly listed companies and 229 private firms. The contract value in Anthropic’s report alone exceeds $180 billion. Today, NVIDIA announced it would increase its stock repurchase authorization by $150 billion. Meanwhile, the company’s committed amount rose from $119 billion in the previous quarter to $279 billion.

Beating AI Express News: AI assistant startup Instinct has closed a $1 billion Series C funding round, reaching a $10 billion valuation, with participation from firms including Sequoia Capital, Benchmark Capital, and Coatue. A month ago, Instinct had just secured a $350 million funding round at a $2.5 billion valuation. Instinct launched its invitation-only service in August 2026, focusing on AI agents that perform real-world tasks for users, such as booking travel and restaurants, shopping, paying bills, canceling subscriptions, conducting research, and ordering groceries. The company recently rolled out the "Concierge" feature, which makes calls on users' behalf, and the "Trusted Person Network" that enables AI agents of different users to coordinate with each other. Reports note that Instinct's rapid fundraising reflects growing market interest in consumer-facing AI agents. However, the company's previous privacy policy sparked user concerns over personal data security, and it has since been updated. Meanwhile, Meta's AI assistant Muse has seen rapid growth recently and is competing with Instinct.

Capital Economics believes the sell-off in US Treasuries is primarily driven by changes in the market’s near-term interest rate expectations. Current 10-year US Treasury yields are approaching their June 2007 highs; economist James Reilly points out that this trend reflects rising oil prices and the strength of the US economy, rather than being fueled by AI-related bond issuance or fiscal concerns. Reilly forecasts that as the Federal Reserve’s tightening falls short of investors’ current expectations, 10-year US Treasury yields will “fall sharply to 4.25%” by the end of 2027. He notes that while AI-related bond issuance will continue to exert upward pressure on yields, its impact is less significant than media reports have implied, and will be offset by shifts in monetary policy expectations. As for fiscal concerns, he added that there have been no substantial fiscal developments recently sufficient to trigger a sharp spike in yields.