Good afternoon lords and welcome.
Nice Fall day where I live, trees are beginning to change colors, cool breeze in the morning, and it’s the first day of October, my birth month.
Glorious.
Quick overview of world news, markets, and crypto updates this week for you on this fine afternoon.
Yields are sky rocketing, Trump is meeting with CEOs and executives of major AI companies, rate hike odds for October have now fallen to 31% on Polymarket, mortgage rates are rocketing, the Iran conflict is simmering, and Wall Street is beginning to build out infrastructure towards facilitating mass tokenization.
We’ve got a good one for you today.
Crypto
NEAR suffered a hack this week due to a bug in its smart contract integration with Omni's custody system that has driven the price down a bit (-7% or so). The protocol has said it resulted in losses of about $3.8 million but that users will be made whole while deposits and withdrawals remain paused.
I am still VERY bullish on NEAR this cycle.
Good reaction for sure and short term bullish that we barely sold off in my opinion. Shit happens, they addressed it, remedied it, and now we can move on.
Earlier today NEAR Intents services were stopped after a security incident was detected. The incident was caused by a bug in the Omni deposit and withdrawal infrastructure interaction with NEAR Intents smart contract.
The preliminary report indicates the total loss of approximately $3.8M. These funds will be compensated in full.
The contract-side vulnerability has been patched. The operations of the NEAR Intents and near(.)com are expected to resume within 1h.
Deposits and withdrawals on the following networks will remain unavailable for an additional ~12 hours while fixes to the Omni infrastructure are completed: BSC, Polygon, TON, Optimism, Avalanche, Stellar, Monad, LayerX, Adi, Scroll and Plasma.
In case users hold any assets from these chains inside NEAR Intents (for example, in HOT wallet or on near(.)com), they will be able to swap them into other assets once NEAR Intents is back up (in ~1h).
The incident has been reported to law enforcement, and we are working with security and blockchain analytics partners to trace the funds and pursue recovery. A detailed report will be shared publicly in the following days.
Tokenization
Andy Cavanaugh, a good digital friend of mine and the founder of The Rollup, recently interviewed Vlad Tenev of Robinhood on the future of Tokenization and it was quite telling about what we can expect to happen in crypto and defi in the coming months. Tenev is incredibly bullish on the future of tokenization and the speed with which his company has pivoted into the space is something to behold.
Their work in perps and stock pairs so far is unmatched and the retail hordes are flocking to the playground like white on rice.
"We have about 200 stock tokens now, we need to get that up into the thousands. I have been talking about private stock tokens for awhile, we figured out how to do that you should expect that at large scale……”
— Vlad Tenev, Robinhood
So we’re talking about expanding these markets globally to also include private companies….. pretty wild.
Robinhood’s expansion into tokenization, defi, and crypto is wild and is a major indicator for all of us that retail will have unprecedented tools at their disposal in the years coming. insert the meme of giving the AK-47 to a monkey The September 29th HOOD summit had a range of major updates and planned releases for Robinhood including:
24/7 stock and ETF trading, including weekends, which is planned for early next year, pending regulatory review. It is going to use Bruce ATS which is an expansion of conventional equity trading, rather than a new tokenized stock launch
AI trading agents, plus planned perpetual futures and contracts tied to company earnings metrics
You can watch the full interview from The Rollup HERE. Make sure to check out their site as well for more interviews and recent deep dives into stable coins and more.
Tokenization has gone from a crypto talking point to something you can actually use in 2026 with Robinhood offering stock tokens that can trade around the clock and serve as collateral onchain.
The appeal is obvious guys and we have talked about it many times before.
You get access to markets beyond banking hours, fewer barriers across borders, and more ways to put assets to work, trade, gamble, hedge, and more. It is faster, more efficient and it is the future of finance.
Readers need to pay attention because the rails underneath investing/markets are changing very quickly, and understanding who controls them (and what you actually own) will matter as much as picking the right ticker or company.
Remember to check out our tokenization guide below to get a sense of which assets we are watching this cycle.
The Next Generational Wealth Opportunity
Good morning — hope you guys didn’t overdo it on the tequila and queso last night.
I remain pretty bullish on crypto this October (which is historically a solid month). Bitcoin seems pretty unfazed by headlines right now, sitting and waiting for the next leg up.
Alt coins remain coiled clearly waiting for the all clear to pump to higher highs. Meme coin pairs and stock pairs have taken a decent breather right now but I expect a second run from many of the quality ones soon enough. I continue to hold my PEPE, FeelsGood, and NEARKAT right now.
I have added to my Solana, Aave, Avax, and Near stacks on this weakness so far this week.
I will be watching Ethereum closely this weekend.
Other crypto headlines:
Aave V4’s market for stock-backed loans on base crossed $9 million deposits and ithit $1.1 trillion in all-time borrow volume (absurd numbers)
The #1 Avalanche DEX, Pharaoh Exchange, hit a record month by volume and fees generated (Avalanche X)
The crypto industry spent nearly $8 million on lobbyists working on the Clarity Act in the first half of 2026 (CoinDesk analysis)
The Congressional Research Service released a new report today examining how far U.S. banks should be permitted to go with crypto and blockchain (GenerationalInfinity)
Only 38% of you have opened and read our latest guide to the crypto bull run. You’re still early for now…….
If you have some time I highly advise you read it before we leg up even higher.
Financial Markets
Choppy week for equities as most investors and institutions look to the insane climb of interest rates. The 10-year Treasury yield climbed from roughly 5.17% last Friday to 5.29% Wednesday AND THEN she briefly pushed toward 5.35% this morning which are levels last seen in 2002.
No bueno. On top of that U.S. mortgage rates just surged to 7.6%.
Home ownership for many is becoming a distant dream unless conditions improve dramatically.
Even some of the softer inflation data we got this week couldn’t keep the relief trade alive in most sectors.
President Trump held a series of meetings this week at the White House to discuss his switch from Artificial Intelligence to what he now dubs “Super Intelligence”. In attendance was a stacked roster of big tech, AI, and defense tech leaders and execs.
Clue for you here!
You probably want some exposure to these companies if you don’t have an irresponsible amount already lol. They will clearly be a juggernaut armada in the next 2 years regardless of broader market conditions.
Meta - Mark Zuckerberg
Nvidia - Jensen Huang
Google / Alphabet - Sundar Pichai
Anthropic - Dario Amodei
OpenAI - Greg Brockman
AMD - Lisa Su
Amazon - Jeff Bezos
Palantir - Alex Karp
SpaceX/Tesla - Elon Musk
Amazon plans to expand its delivery network to 95% of U.S. ZIP codes by 2029 with 165 new delivery stations (Polymarket Money)
Peter Schiff predicts Democrats will win in November as U.S. savings fall to 4.1%, the lowest rate since November 2022, with spending outpacing income growth (CoinTelegraph)
The top 1% of U.S. households own over 31% of the nation's wealth, surpassing the total wealth held by the entire middle class (the middle 60%) (Unusual Whales/CBC)
Long speculative positioning in Nasdaq futures is up to nearly 50% of open interest, its highest since 2017 (Kobeissi Letter)
Ken Griffin of Citadel recently donated $3 billion to Carnegie Mellon University for an expansion in Florida
Morgan Stanley announced the development of a massive Dallas hub, and will get an $18.5 million economic development grant from the City of Dallas and two different tax abatements for both phases of the project (CBSNews)
NKE 0.00%↑ stock is down over 43% this year
Will be interesting to see how equities fare leading into a contested midterm season in the US.
Global News
A Flydubai flight from Dubai to Tel Aviv made an emergency landing in Saudi Arabia on Wednesday after its co-pilot allegedly stabbed the captain and attempted to crash the aircraft, according to Israeli officials. The videos dropping on X and the internet were pretty absurd to say the least detailing the bloody aftermath of the attack.
The injured captain then managed to open the cockpit door, allowing passengers and crew to completely overpower the attacker. Other pilots aboard then helped regain control and land safely in Tabuk.
The suspect was detained on landing and the wounded captain was hospitalized.
Israeli officials have described the incident as an attempted terrorist attack but the motive remains under investigation/is still unclear.
On the heels of the bizzare foiled terror plot in the UK on Air Force Base Fairford, British Prime Minister Andy Burnham said this week:
“We will say more in due course, but we can confirm our belief that we believe Iran to have played a part”.
Which is odd given they released the suspects shortly after they were detained. Is this just the UK proving they can out cuck themselves? Or is something more sinister going on? Why are you letting anybody go who was caught in a potential terror plot near a sensitive military installation? Why was a local female farmer in her 50s from Whelford the one who called it in?
Not sure, but the whole thing is quite bizzare and reads like some deep conspiracy mission from Call of Duty Modern Warfare.
When it comes to developments in Iran, it is more or less the same dance we’ve seen for weeks now. Trump is upping his rhetoric but there’s little indication of any peace deal to be made before mid term elections right now.
The Hormuz Letter reported on X today:
More than 2,000 US Marines are now heading to the Middle East aboard the Makin Island amphibious ready group, with a US official saying three aircraft carriers and two amphibious landing groups will be deployed around Iran by November for new operations.
So it sounds like the can will get kicked to Winter and Trump will ramp this all up again after mid term results as of now.
"Now I have to make a decision. They will either sign a very fair deal or they won't exist any longer"
—President Trump
The US is reportedly sending a third carrier to the Middle East, the USS Theodore Roosevelt (Insider Wire)
The UK is starting to release hundreds of prisoners early due to severe prison overcrowding (BRICSnews)
Bolsonaro is surging to a record-high in Brazil’s presidential odds (Polymarket)
A federal judge has blocked Connecticut’s Glock ban as a Second Amendment violation (InsiderWire)
President Trump said this week that the US may intensify bombing of Iran after the midterm elections (BRICSnews)
China has suspended fuel exports until further notice (WatcherGuru)
The Joint Maritime Information Center issued Update 101 to its advisory on the Middle East maritime region, rating the regional threat level SEVERE (OSINT Defender)
Mass unrest is occurring in France right now as students (and I use that term loosely) join protest across the country. 160 schools are now shut down as hoodlums take to the streets in Paris and Marseille to protest issues ranging from “timetables, class size and a shortage of teachers”.
Remember the PSG Arsenal aftermath? Similar except the scapegoat now is “we need more stuff to learn!”.
Reality is, the unrest is being driven primarily by second and third generation immigrants (similar to unrest you see in the UK and other parts of Europe).
Legacy media won’t tell you that of course, but I will, because it matters. The pattern is the same all across the Western world.
In this video you can see a female police officer chased and beaten.
The government is claiming (and is likely correct) that leftist teachers and educators have helped to encourage the unrest that has shifted into riots and destruction of property.
This is yet another headache for a government that is clearly trying to cut spending ahead of next year’s presidential election to curry favor while simultaneously dealing with the massive question mark that is unchecked immigration.
There’s new reports emerging now that these same rioters are targeting Catholic churches.
Again, it’s almost uncanny how much all of this resembles the plot of Jean Raspail’s Camp of the Saints. You really just cannot make it up.
See you guys on Tuesday. Good luck finishing up the week.
Have a phenomenal Friday and weekend.
See you on Discord and X. I need to hit the car wash, get another iced coffee, and get ready for another few days of terminally monitoring the markets.
Andy
where do u you buy your NEARKAT?