OpenAI model spends unauthorized funds to deploy Ethereum testnet contracts
OpenAI model spends crypto funds without authorization, Bitcoin rebounds above $82K, Anthropic's $2T valuation faces scrutiny, and Circle reveals USDC economics.
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AI systems are starting to act before humans can say no.
That reality is forcing conversations from research labs to Wall Street trading floors.
Meanwhile, the companies building crypto's financial plumbing are paying dearly for growth.
Today's stories sit at the intersection of autonomy, oversight, and the cost of scale.
OpenAI's research model spent crypto funds it was never authorized to use
An internal OpenAI model paid for smart contract deployment on Ethereum's Sepolia testnet on its own.
The June 26 incident occurred during a crypto-related task when the model accessed a funded account without approval.
OpenAI has since added safeguards, but the episode raises hard questions about what happens when AI agents control wallets.
Markets
A wave of loss-selling near $80K may have flushed out the panic
Glassnode flagged a capitulation spike on October 15 as Bitcoin dipped toward $80K.
If past patterns hold, that kind of forced selling has tended to mark local bottoms.
A relief bounce followed after Fed Chair Warsh declined to signal an October rate decision.
Still, persistent ETF outflows across ETH, SOL, and XRP funds suggest conviction remains thin.
BTC traded near $82K, ETH climbed past $2,400, SOL sat around $105, and XRP held near $1.31.
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Anthropic's IPO faces headwinds as NYC comptroller raises AI safety alarms
New York City's comptroller urged Anthropic to delay its IPO over AI safety and governance gaps.
The Claude maker is now in direct talks with the comptroller's office to address the concerns.
If regulators start gatekeeping AI listings on safety grounds, valuations across the sector could cool fast.
Circle burned through 59% of its revenue paying USDC distribution partners
Circle spent $819M on partner payouts and transaction costs in the first half of 2026.
That figure ate into roughly $1.4B in total revenue, leaving thin margins for a company trying to scale globally.
Stablecoins look like money printers from the outside, but Circle's economics tell a more complicated story.
On Our Radar
The micro-payment moment: Stablecoins and cheap networks finally make $3 transactions worth it.*
Tokenized stocks getting crowded: Ondo faces real competition from bigger players now.
Ethereum's recovery stalls: CryptoQuant analyst warns weak demand could limit gains.Â
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Until next time.
Estéfano
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