Friday got off to a weak start: Bitcoin weakened before bouncing back slightly, while concerns over AI sector earnings in US stocks resurfaced.

According to monitoring by Onchain Lens, Firedancer Wallet, a unit of Jump Crypto, has once again staked 453,987 SOL tokens, valued at approximately $49.81 million.

According to Bitget market data, the Nikkei 225 index opened 0.6% lower, and the South Korean stock market is closed today.

BitMEX co-founder Arthur Hayes wrote in an article that at the onset of every major bull market, the crypto market must navigate a wall of worry made up of various concerns. In 2017, this took the form of the block size debate; in 2020, it was the COVID-19 pandemic; in 2023, it was the FTX collapse and central bank interest rate hikes; and for 2026, it is the FUD (fear, uncertainty, doubt) sparked by AI crypto technology. The money-printing spree will eventually arrive, driving a sharp rally in asset prices.

According to HTX market data, as Bitcoin weakens, altcoins in the crypto market have also seen sharp synchronized declines. Among them: ORCA is down 17.75% in 24 hours, currently trading at $2.358; MINA is down 16.27% in 24 hours, currently at $0.0777; NEAR is down 15.88% in 24 hours, currently at $4.517; ZEC is down 10.46% in 24 hours, currently at $1194; PUMP is down 9.54% in 24 hours, currently at $0.005635.

Richard Blumenthal, the top Democrat on the U.S. Senate Permanent Subcommittee on Investigations, is demanding Wall Street investment bank Cantor Fitzgerald explain its relationship with Tether, the world’s largest stablecoin issuer. If Democrats make further gains in the November elections, Blumenthal and his colleagues could soon gain expanded investigative authority. On Thursday, Blumenthal sent a letter to Cantor CEO Brandon Lutnick, son of Howard Lutnick, who served as U.S. President Donald Trump’s Commerce Secretary and handed over management of the firm to his son after joining the administration. Blumenthal has been investigating Tether’s role in Iran’s financial system, and noted that Tether, the issuer of USDT, has a lucrative business relationship with Cantor Fitzgerald, which manages its U.S. reserve assets. In the letter, Blumenthal wrote: “Just as Tether has reaped incalculable interest income and investment gains from stablecoins used in these illegal activities, Cantor Fitzgerald has also profited from its partnership with Tether.” He also asked Brandon Lutnick to explain the firm’s banking operations and sanctions compliance safeguards, and inquired about his father’s prior dealings with Tether during his tenure at Cantor.

IMF schedule indicates that Federal Reserve Chair Waller will attend and deliver a speech at the IMF Annual Meeting in Bangkok at 11:30 AM Beijing Time on October 16. This date also marks the final day of the Federal Reserve’s pre-meeting blackout period ahead of its October 27-28 policy meeting. Markets are currently pricing in an approximately 80% probability that the Fed will pause interest rate hikes at the October meeting, followed by a rate hike in December.