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$BTC Bitcoin $85K for the first time since January, hard to remember it has been that long while the asset has been depressed all year...but makes it more of a coiled spring now if this is the breakout. This comeback is pretty impressive given rate hikes and where bond yields trade at. For those that believe in cycles, Bitcoin is coming up on the typical September/October bottom that has been discussed all year if price action continues to gain momentum. Also moving on from the Clarity Act not getting passed. Helps $HOOD $COIN $MSTR $BMNR and all the other crypto derivative names as those names are close to 52-week highs in the premarket.

A TON OF THINGS HAPPENED IN THE STOCK MARKET TODAY. Here's a full recap: 1. The Clarity Act $BTC $ETH failed to advance in the Senate on Sept. 15, with the motion to proceed falling short of the 60-vote threshold in a 49–50 vote. The last-minute Sept. 14 rewrite included 126 Democratic-requested changes, covering state AG enforcement of ethics rules, a Treasury “circuit breaker” on stablecoin rewards if banks see deposit flight, and broader developer, miner, and validator safe harbors. The main sticking point was ethics language tied to official crypto holdings. The final text would have required covered officials and spouses to divest certain crypto interests or place them in a qualified blind trust, but critics argued it still left unresolved concerns around presidential crypto ventures. Markets sold the news, with Bitcoin down about 3% and $COIN Coinbase and $CRCL Circle falling roughly 8%-10% after the vote. 2. Elon Musk made several notable comments at the All-In Summit across $SPCX SpaceX, $TSLA Tesla, and AI safety. On Starship, he said the odds of catching the ship on the first try are “at least 50 or 60%,” and that he thinks it is “extremely likely” SpaceX achieves full reusability with rapid reflight in 2027. Asked why Tesla and SpaceX remain separate companies, Musk said, “Great question. Nobody's ever asked that one,” before adding, “Imagine what action one might take when there's so much close collaboration in so many areas.” On AI safety, Musk said the danger of AI is “very significant” and that when people from Anthropic and OpenAI say their models are dangerous, “we should believe them.” He also suggested that major AI competitors should test each other’s models, saying it would be better than companies “grading your own homework.” 3. Grab $GRAB will acquire a controlling 60% stake in Atome Financial for $1.49B in cash, expanding its consumer lending business across Southeast Asia. Atome operates BNPL, cash loans, cards, and digital lending across 5 markets, with a $1B gross loan portfolio and 25M cumulative transacted users. Grab expects the deal to help its Financial Services segment reach $500M in adjusted EBITDA and a $6B+ gross loan portfolio by 2028. The company also raised its 2028 group targets to $1.7B in adjusted EBITDA and 30%+ revenue CAGR from 2025 to 2028. Grab has also agreed to acquire the remaining 40% roughly two years after the first deal closes, with the valuation capped at $4.5B. 4. Global yields are breaking into decades-high territory: U.S. yields are at 2007 levels, UK yields at 1998 levels, Germany and France at 2008 levels, and Japan at 1996 levels. China is the major outlier, with government borrowing costs near record lows. Meanwhile, U.S. diesel prices hit a new record $6.26/gallon, up more than 80% in 9 months, leaving truck drivers paying nearly $3.00/gallon more than they were in January. California gas prices have also pushed above $6.00/gallon, adding another inflation shock as oil supply risks continue to build. 5. Officials from all 27 EU member states are set to meet in Brussels on Thursday to discuss international rules for advanced AI and receive a technical briefing on recent AI incidents, according to POLITICO. The discussions are expected to focus on global coordination through groups including the G7, G20, and United Nations. Europe already regulates advanced AI through its AI Act, with the European Commission beginning enforcement of parts of the law in August and the European AI Board coordinating implementation across member states. EU tech chief Henna Virkkunen has also called for greater international cooperation and regulatory interoperability to prevent fragmented AI rules across countries. 6. Another AI safety researcher has resigned from a frontier lab, this time from $GOOGL Google DeepMind, where he worked on AGI safety and alignment. He said he is “extremely concerned” by the default trajectory of AI and believes the technology “has the potential to kill us all” if current risks are not addressed. He pointed to the pace of progress since 2022, arguing that frontier systems have moved from being “amusingly useless” to agent swarms solving major math problems and allegedly escaping control in the Hugging Face incident. His core concern is that superintelligent systems could emerge within the next few years before alignment is solved, with capabilities advancing faster than researchers’ ability to ensure these systems actually do what humans want. He called for more coordination between AI companies, a slower pace of development, greater transparency into frontier labs, and more people working on catastrophic AI-risk mitigation. 7. The top 10 most active options today by contracts traded were $NVDA with 1.5M contracts, $TSLA with 1.5M contracts, $META with 868K contracts, $SPCX with 845K contracts, $AMZN with 710K contracts, $AAPL with 700K contracts, $INTC with 520K contracts, $MU with 512K contracts, $AMD with 387K contracts, and $PLTR with 361K contracts. 8. Saudi Arabia suspended oil loadings at Yanbu, its main Red Sea export port, after attacks on the East-West pipeline, according to Reuters. Yanbu typically exports up to 5M barrels/day, making the disruption another major pressure point for an already tight energy market. 9. OpenAI has held early talks with investors about a new private funding round that could value the company at roughly $1.2T, up from $852B in March, according to the Financial Times. The discussions were reportedly initiated by investors and remain at an early stage. OpenAI’s annualized revenue passed $40B last month after jumping about 20% following GPT-5.6, while Sam Altman has said an IPO is unlikely before 2027. The company raised $122B in March and spent $34B last year, underscoring both the scale of demand and the massive capital intensity behind the AI buildout. 10. Meta $META CEO Mark Zuckerberg said he does not think the AI industry needs a coordinated pause. His view is that each lab should slow down on its own when safety requires it, and that alignment will increasingly become a competitive advantage because people will not use AI agents they cannot trust. Meta already delayed Muse for several months to address safety and security issues without asking other labs to pause with it. Zuckerberg also said Meta has committed the significant majority of its compute to serving users rather than racing toward recursive AI self-improvement. 11. Long-term unemployment in the U.S. continued to rise in August, with the number of Americans unemployed for 27+ weeks jumping by 155,000 to 1.93M, the 4th-highest reading since December 2021. As a share of total unemployment, long-term unemployment rose 1.5 percentage points to 27.0%, the 3rd-highest level since December 2021. The metric has now been climbing for more than 3 years and is higher than in every recession except the 2008 Financial Crisis and the 2020 Pandemic. For context, this cycle’s low was 17.8% in February 2023. 12. Tomorrow will be one of the most important FOMC descisions all year. Kevin Warsh was asked in July 2025 whether his push for Fed rate cuts was influenced by the president who might appoint him to lead the central bank. His response: “There's a time for a bird to change his feathers, and it's with the times. It has nothing to do with this president.” Fast forward to today, and Wall Street has largely shifted toward expecting a Fed hike this week, driven by Warsh’s read on the economy and the way the macro backdrop has changed since he took over in May. The biggest shift has come from the Iran War, rising inflation pressure, and the AI investment boom. As of today, nearly every major bank on the Fed call sheet expects a September hike, with most looking for 50 bps, while Bank of America, Deutsche Bank, and RBC expect 75 bps. Central bank watchers now expect not just one hike this week, but potentially another before year-end. WALL STREET IS THE GREATEST SHOW ON EARTH.

A TON OF THINGS HAPPENED IN THE STOCK MARKET TODAY. Here's a full recap: 1. FOMC decision week began with a clear AI rotation: long software, short semis. Nvidia $NVDA, Marvell $MRVL, Sandisk $SNDK, AMD $AMD, Nebius $NBIS, Micron $MU, CoreWeave $CRWV, and Intel $INTC were down 3%-7%, while Palantir $PLTR, Atlassian $TEAM, CrowdStrike $CRWD, ServiceNow $NOW, Adobe $ADBE, and Intuit $INTU were up 2%-5%. The move reflected a market trying to reprice the AI trade after the weekend’s safety debate around Dario’s essay. Semis and neoclouds sold off because their bull case is tied directly to continued AI capex growth which the market interpreted as slowing down if the pace of frontier model development slows down. At the same time, Trump rejected the calls to slow down as he posted that AI needs a “STRONG AND SMART” president rather than guardrails, said the U.S. was leading China in AI, and separately said Iran wanted to make a deal and that the US was open to engaging. Oil crossed $105 and the US 10-year treasury yield crossed 5%. The Fed will make their decision for a rate hike on Wednesday. 2. Palantir $PLTR, Nvidia $NVDA, and Booz Allen Hamilton are reportedly restricting Anthropic’s Fable model for sensitive work over concerns about its data-retention policies, according to The Information. Some enterprise customers are demanding irrevocable zero-data-retention guarantees before putting proprietary information into the model. Anthropic reportedly introduced rolling 30-day usage logs for safety monitoring in June, while its planned option for eligible customers to store logs themselves can still be revoked. Palantir is withholding Fable from its platform until it receives irrevocable zero-data-retention guarantees, Nvidia is limiting Fable to less-sensitive work while using Nemotron for sensitive internal projects, and Booz Allen is excluding Fable from work involving its proprietary cybersecurity software. 3. Trump called Jensen Huang during the All-In Summit and was put on speaker phone, where he defended the AI data center buildout and pushed back on recent concerns. “I'm telling you it's all a hoax. The data centers are great. They make people wealthy. They make states wealthy. AI is bigger than the internet. These people are playing right into the hands of China. We're not going to let that happen,” Trump said. Jensen responded, “You're right, we're not going to let that happen sir.” Jensen also said the fears from over the weekend were made up and that the companies involved have the control they need to navigate the concerns. 4. OpenAI has acquired Glass Imaging, an AI camera startup founded by former Apple engineers, for more than $300M. Glass is working to bring DSLR-like image quality to smartphones, and the deal comes as OpenAI and Jony Ive continue developing new consumer hardware. OpenAI’s exact plans for Glass remain unclear, but the acquisition is notable given Glass was valued at roughly $100M just last year. 5. Truist initiated Nebius $NBIS at Buy with a $355 price target, calling it a scaling AI-native hyperscaler still early in its infrastructure buildout. The firm believes consensus 2027E ARR estimates are conservative given recent pricing of $20M-$25M/MW for 1-3 year deals and $40M-$50M/MW for shorter-duration contracts. Truist sees a major opportunity ahead, estimating a $2.1T annual revenue opportunity at the cloud layer by 2030E, with scarcity and contract economics supporting upside to pricing and revenue. The firm also sees multiple paths for Nebius to reach 20%-30% adjusted EBIT margins over the medium term. 6. The top 10 most active options today by contracts traded were $NVDA with 3.2M contracts, $TSLA with 2.4M contracts, $AAPL with 1.6M contracts, $MU with 1.1M contracts, $AMZN with 957K contracts, $META with 906K contracts, $MSFT with 874K contracts, $INTC with 835K contracts, $GOOGL with 734K contracts, and $SPCX with 688K contracts. 7. U.S. consumers aged 40-49 now account for 26.8% of new consumer bankruptcies, their highest share since Q3 2015 and the largest of any age group. The 50-59 group represents another 23.1%, bringing Americans aged 40-59 to 49.9% of all new consumer bankruptcies, the highest share since Q1 2017. For perspective, that figure peaked at 54.3% in Q4 2011 after the 2008 Financial Crisis. Consumers aged 70+ now make up 21.5% of new bankruptcies, their highest share since Q2 2017, while Americans aged 18-29 account for just 5.9%, the lowest since Q2 2014. 8. JPMorgan upgraded IREN $IREN to Overweight and raised its price target to $65 from $46, saying the company is emerging as a top-tier neocloud provider. JPM cited IREN’s NVIDIA partnership, stronger customer momentum, and rising AI infrastructure pricing, noting neocloud contracts have moved from roughly $10-$15/W to $15-$20/W+, while customer prepayments of 25%-50% are helping fund GPU purchases. IREN has raised its year-end 2026 ARR target to as much as $4B, with roughly $1B of operating ARR today. JPM also highlighted IREN’s Microsoft buildout, recent deal with an unnamed frontier AI lab. Looking into 2027, JPM believes IREN’s planned ~0.5 GW expansion could command materially higher pricing, with deals above $15/W creating significant upside to the outlook. 9. Global semiconductor revenue hit a record $425B in Q2 2026, up 31.4% QoQ, according to Omdia. Memory accounted for more than half of total revenue, driven by AI demand and rising DRAM, NAND, and NOR pricing. Even excluding memory, semiconductor revenue grew more than 10% QoQ, well above the historical Q2 average of just over 3%. The industry generated $752B in revenue in the first half of 2026 alone, and Omdia expects Q3 revenue to surpass $500B, pushing the first nine months of 2026 above $1.25T. 10. Apple $AAPL has begun rolling out its new Siri AI in beta with iOS 27, adding personal context across messages, emails, and photos, plus onscreen awareness and systemwide app actions. The new Siri can find information across a user’s device, understand what is on screen, draft emails, add calendar events, and take actions across supported apps. Apple says the new Apple Intelligence architecture uses its own foundation models built in collaboration with Google Gemini, with processing split between on-device models and Private Cloud Compute. 11. U.S. diesel prices have officially risen to a record $6.20/gallon, up 78% over the last 9 months. In California, diesel has surged to a record $8.14/gallon, with some areas approaching $9.00/gallon. The spike comes as the U.S. enters peak diesel-demand season while supply remains historically tight. Jet fuel is also surging, now at $4.35/gallon, up 61% over the last 10 weeks, with prices rising another 10% in the past week as U.S. oil pushes above $100/barrel. Airline fares were already up 23% YoY in August, and if fuel stays elevated, September CPI could show fares rising as much as 30%. 12. The Clarity Act $BTC $ETH moved back into focus after Senate Republicans released a “final” draft ahead of Tuesday’s cloture vote, saying the text includes 126 Democratic-requested changes after more than a year of talks. The bill still needs 60 votes to advance, with Republicans holding 53 seats. Key updates include new ethics language requiring covered officials and spouses to divest certain crypto interests or place them in a qualified blind trust, a role for state attorneys general in enforcement, and a Treasury “circuit breaker” that could restrict stablecoin rewards if payment stablecoins trigger major deposit flight from community banks. The U.S. Senate is scheduled to hold a key preliminary cloture vote on the Clarity Act on Tuesday afternoon, September 15, 2026, at approximately 2:15 PM ET. WALL STREET IS THE GREATEST SHOW ON EARTH.

so have yall seen $HOOD today orrrrr 😆 part of the reason for this move is because the MJ of crypto @blknoiz06 posted to his 1.3M followers yesterday around his HOOD thesis ansem has been a massive Robinhood bull from the early days but he is also heavily involved in the rising on-chain activity and for those that haven’t heard… the numbers are quite incredible: - Robinhood Chain has generated $34.6B in cumulative DEX volume, 576M transactions, and 12.3M addresses since launching July 1. - Daily DEX volume recently hit a record $1.5B, with users paying $3.75M in fees on September 1. - More than 190 tokenized stocks are now live, generating over $3B in cumulative DEX volume. - RWA activity has surged, with daily volume reaching a record $390M, including $217M from memecoin/tokenized-stock pairs. - Robinhood’s onchain ecosystem has grown to more than $750M in TVL while also generating billions of dollars in perpetual-futures volume. The street is realizing they have not priced in Robinhood Chain. Ansem posted his thesis on Robinhood Chain and how large it can become yesterday to millions of people who want exposure to companies innovating in the crypto space. this is a part of their business that can produce $1B of revenue if it maintains this growth and even if it doesn’t, we are talking about a new 9-figure revenue stream for the company & you’ve got $BTC at $81K higher