One of Wall Street's Best Hedge Funds Just Blew a 44% Gain Because of AI Bets

At the end of June, Lone Pine Capitals flagship hedge fund was up 44% for the year. Three months later, almost all of it was gone after its bets on AI stocks turned.  The fund, called Cypress, finished September up just 0.6%, Bloomberg reported. Lone Pine manages about $19 billion. It had posted double-digit gains three years in a row.  Sponsored  Sponsored  The AI Bubble Is Affecting Biggest Wall Street Traders  Lone Pine Capital is historically considered one of Wall Streets most successful and prominent hedge funds. However, its recent performance has experienced sharp ups and downs.  July did most of the damage. Cypress lost nearly 25% that month as AI and tech stocks sold off. Tensions involving Iran and a spike in oil prices made the rout worse.  The timing was brutal. Lone Pine bought five of its seven biggest US stock positions in the second quarter, according to figures cited by Hedgeweek. Together, they made up about 40% of its US portfolio.  The biggest was Nebius Group, a Dutch company that rents out AI computing power. Lone Pine held about $1.18 billion of it. The stock fell nearly a third in July.  Q3 share-price falls for Applied Materials, Nebius Group and Seagate, top Lone Pine hedge fund

10-10انڈسٹری

Cryptos 10/10 Trauma: Did Traders Really Deleverage Before the Anniversary?

Crypto traders took on more borrowed money heading into the 10/10 anniversary, not less. That left them exposed when Bitcoin (BTC) slid toward $80,000 and over $1 billion in bets were forcibly closed.  On October 10, 2025, a tariff threat from President Donald Trump set off more than $19 billion in forced closures, a record. This week, some traders claimed fear of a repeat had pushed the market to cut risk.  Sponsored  Sponsored  “The bear market PTSD is so strong that people actually deleveraged for an anniversary to a liquidation event. Think how deep that PTSD goes if you‘re doing that. I’m telling you, there is mass under exposure and things actually look good,” said Eric Conner, a crypto veteran and one of the co-authors of EIP-1559.  But did they?  Borrowed Bets Rose Into Bitcoins Drop  Leverage means trading with borrowed money. If prices move the wrong way, exchanges close the position automatically, which is called a liquidation.  That peak landed on the day of the selloff. Bitcoin fell to $80,393, and over $1 billion was liquidated in 24 hours, as BeInCrypto reported. About $930 million came from bets on rising prices.  BeInCrypto flagged the risk a day earlier. Its 10/10 repeat analysis found the market carried nearly as

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Hidden Spy Chip Found Inside a Sealed Ledger Wallet

The box was sealed. The plastic wrap was perfect. But inside, the Ledger hardware wallet had a tiny circuit board designed to steal the password and the owners crypto. This is according to former Mt. Gox chief Mark Karpelès.  Karpelès, who ran the exchange that collapsed in 2014, says the spyware was hidden behind the screen, where a piece of padding should have been. It carried an antenna and a small SIM capable of transmitting a wallets 24-word recovery phrase.  Sponsored  Sponsored  Those words are enough to empty the crypto wallet remotely. An attacker would never need to touch the device again.  My spy-implanted ledger came from Malaysia, and had flawless shrink wrap. Even opening it, at first you dont see the implant which is cleverly hidden where the screens padding is supposed to be.  Follow Ledgers guidance to check yours: https://t.co/FlOjWvqkZw pic.twitter.com/D8mixF1o9L  — Mark Karpelès (@MagicalTux) October 9, 2026  Ledgers Security Check Might Miss the Spy Chip  Ledgers Genuine Check confirms that a device contains an authentic security chip. But it cannot detect every physical alteration around that chip. This is a limitation Ledger acknowledges in its own guidance.  A tampered wallet could therefore pass the check while a hidden component watches the screen.  The discovery comes as Ledger investigates

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DOJ To Investigate Binance Again. Could More Fines Follow?

Binance agreed to pay $4.3 billion to settle a US criminal case in 2023. Less than three years later, federal prosecutors are checking whether the worlds largest crypto exchange broke the terms of that deal.  Tysen Duva, head of the Justice Department‘s Criminal Division, confirmed to Bloomberg on October 9 that officials are reviewing Binance’s compliance.  Sponsored  Sponsored  Three Developments Raising Questions  The first concern involves a suspected Iranian payment network. The Wall Street Journal reported that accounts tied to financier Babak Zanjani processed around $850 million through Binance.  Its latest investigation describes a VIP customer whose suspicious trades drew inquiries from US and Swiss authorities. Binance says it closed the accounts.  Then came a$61 million forfeiture casefiled in September. Prosecutors allege that two Chinese firms, Blessed Trust and Hexa Whale, used Binance accounts to launder proceeds from Iranian oil sales.  The wider network allegedly moved more than $1.5 billion. Binance says it investigated and removed both companies.  The third development concerns Binances response to suspected sanctions violations.  Earlier reports suggested that prosecutors were examining whether the exchange knowingly allowed prohibited trades. That broader investigation overlaps with the other two cases.  Sponsored  Sponsored  The DOJ has not identified which incidents, if any, are part of its settlement review. No wrongdoing has been alleged

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SUI Price Prediction: Can SUI Hold $1.05 and Rally Toward $1.30?

Sui price prediction for mid-October stays bullish above $1.06, the level $SUI needs to hold after this weeks sharp pullback from its post-Basecamp high.  Sui Weekly Chart Analysis: Can $SUI Hold the 0.236 Fibonacci Level?  Sui Weekly Chart Analysis (Source: TradingView)  The coin trades near $1.10, down 9% this week, after the week opened at $1.2082, spiked to a high of $1.2540, then fell to a low of $0.9977 before recovering. That low briefly pierced the 0.236 Fibonacci retracement at $1.0552, measured from the 2025 high near $2.3556 down to this years low near $0.6535.

10-10

Coinbases Texas move gets a shareholder suit dismissed over Delaware-era claims

Coinbase‘s move to Texas changed the rule a shareholder had to satisfy before suing its directors over alleged conduct from the company’s Delaware years. In an October 2 ruling, the Texas Business Court dismissed Gary Guillaumes derivative action because he had not first demanded that Coinbase take action on the claims.  The dismissal was without prejudice, and the court did not decide whether the alleged misconduct occurred. Its consequential finding concerned who could pursue claims belonging to Coinbase: Texas‘s demand requirement applied to the shareholder’s authority to sue, even though the court assumed without deciding that Delaware law governed the underlying claims.  On October 9, Coinbase CEO Brian Armstrong praised the precedent as encouraging more companies to incorporate in Texas and thanked Greg Abbott. That endorsement came a week after Judge Andrea K. Bouressa signed the order. The immediate lesson for public shareholders is that the law governing a companys past conduct and the law governing their ability to challenge it can diverge after reincorporation.  Related Company Coinbase A leading digital currency company  Why older claims faced Texass demand rule  A derivative action lets a shareholder pursue a claim on the corporations behalf. The claim belongs to the company, and the shareholder seeks to exercise

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French Committee Backs Stablecoin Swap Tax and Crypto Exit Tax, Then Rejects the Budget

In briefFrances Finance Committee adopted an amendment treating swaps of crypto into MiCA-regulated stablecoins as taxable sales from Jan. 1, 2027, and another extending the exit tax to crypto held by households worth more than €800,000.The committee then rejected the budgets revenue section on Oct. 9 by 31 votes to 3, so the floor debate starts from the governments original text.A third adopted amendment would let investors carry crypto losses forward for 10 years; the Assembly debates the revenue section from Oct. 13 and votes Oct. 20.  Frances National Assembly Finance Committee voted this week to tax crypto holders who swap into stablecoins—tokens tied to a single official currency, such as the dollar or the euro—and to charge an exit tax on wealthy holders who move abroad.  The votes may not matter much yet: on Friday the committee rejected the budget‘s entire revenue section by 31 votes to 3, so the full Assembly starts from the government’s original text, without the crypto amendments.  Myriad: Where does Ethereum go next? Click to make your prediction.  The committees amendments do not carry over to that text, so their backers would have to table them again for the floor debate that begins Oct. 13. Neither measure is

10-10انڈسٹری

Bitcoins weekend rebound faces an $80,400 test after nearly $730 million in ETF outflows

Bitcoin traded near $82,900 in PerpFinders Oct. 10, 09:36 UTC snapshot, with traders watching whether the weekend rebound brings fresh leverage or further position unwinding.  Related Asset Bitcoin #1 BTC · $82,756.05 24-hour change: up 0.19% Loading price history… 24H Up 0.19% 7D Down 2.49% 30D Up 7.24%  The same snapshot put Binance BTC futures open interest at $7.70 billion and showed longs receiving funding, indicating negative funding. Saturday‘s Deribit expiry has already settled at 08:00 UTC; Sunday’s expiry remains ahead.  The rebounds durability depends on what traders do with leverage: rebuild it, keep closing positions, or hedge against another decline.  Related Company Binance Global crypto exchange  Futures positioning is the test  Funding payments help distinguish those paths: positive funding means longs pay shorts, while negative funding reverses that flow.  Related Company Deribit Cryptocurrency Futures & Options Trading  A recovery with price up, open interest stable or climbing, and funding modest would be consistent with traders rebuilding risk in a healthy way. Price rising while open interest falls would be consistent with position unwinding, including short covering, rather than necessarily showing fresh conviction.  Price falling with open interest falling would suggest continued deleveraging. Falling price with rising open interest could indicate new bearish exposure, particularly if funding also turns

10-10انڈسٹری

Bitcoin Price Clings to $82,800 as the Next Breakout Remains Elusive

Bitcoins price traded at $82,816 on Saturday, Oct. 10, as the market continued consolidating following its retreat from the $87,000 region. While the hourly chart shows signs of recovery, the four-hour and daily charts remain range-bound, with bulls defending support near $82,200. Technical indicators offer a mixed picture, with neutral oscillators, stronger, longer-term moving averages, and resistance between $83,300 and $84,400 standing in the way of a convincing breakout.  Key TakeawaysBitcoins price traded near $82,816 on Oct. 10, holding its range as bulls defended support around $82,200.Bitcoins technical indicators remain mixed, with neutral momentum but stronger longer-term moving averages.Bitcoin bulls need to reclaim $83,432 to $84,400, while losing $82,200 would put lower support levels in play.  Bitcoins $82,800 Standoff Leaves Bulls Facing a $84,400 Wall  Bitcoins price spent Saturday morning hovering around $82,800, caught between an improving short-term recovery and stubborn resistance that continues to frustrate bulls. At approximately 7:52 a.m. Eastern time on Oct. 10, bitcoin traded at $82,816.39, with a market capitalization of $1.664 trillion and $21.33 billion in 24-hour trading volume.  The leading crypto asset changed hands between $82,229.11 and $83,315 during the preceding 24 hours, leaving traders watching whether the latest consolidation represents a foundation for another advance or merely

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Stealing $1.5B in crypto is easy, cashing out is the trap

North Korean hackers stole around $1.5 billion from Bybit in February 2025. While the hack itself has been widely covered and analyzed, few have focused on what happened afterward and what became of the stolen funds.  Related Asset Tether USDT · Stablecoin  To move all that money, hackers needed to rely on an entire network of people willing to handle stolen assets, creating a chain of relationships that someone prepared to spend enough money could infiltrate.  Thats what ZachXBT, a pseudonymous blockchain investigator, did. He committed 349,700 USDC and accepted a 5% loss on each completed order while posing as a client of a Chinese laundering network.  Related Company Bybit Cryptocurrency derivatives exchange  He eventually obtained information that helped him trace more than $12 million in Bybit-linked funds and, according to his account, contributed to Tether freezing 442,000 USDT.  Related Person ZachXBT On-chain Sleuth · Crypto Space  His investigation led him to a network he believes laundered more than $1 billion from crypto thefts linked to the North Korean Lazarus Group, including proceeds from the Bybit attack.  The implications of his investigations extend to a much larger market for criminal financial services that American authorities have spent the past two years trying to disrupt.  In September, the US Treasury

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