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White House cryptocurrency advisor Patrick Witt criticized Democrats for turning President Donald Trump's cryptocurrency earnings into a "political issue" even after “unprecedented” ethics provisions were negotiated into the CLARITY Act.
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The Nasdaq 100 fell 1.5% at midday Friday as memory chips and AI-debt names sold off, while Fed Chair Warsh declined to rule out an October hike after hot CPI and PPI. WTI held near $96, the 10-year yield hovered around 5.1%, gold bounced toward $4,200 and bitcoin traded near $81,300.
Bitcoin struggles near $83,000 as analysts favor five altcoins tied to DeFi, tokenized stocks and AI infrastructure.
Raoul Pal calls Ethereum wildly undervalued, while backing Bitcoin, Solana, Sui and Zcash ahead of a liquidity shift.
XRP may drop to $1.22 before recovering, with bullish targets of $3–$4 or $9–$13; Bitcoin and Ethereum could see further selloffs first.
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Social Capital founder and venture capitalist Chamath Palihapitiya suspected on Thursday, October 15, that much of the AI companies' revenues come from other AI firms that are themselves funded by venture capital.