Trillions Are Being 'Wasted' on the AI Boom, Arthur Hayes Says. He's Betting on What Comes Next

Humanity is "wasting multi-trillion dollars" on AI data center build-up, according to former BitMEX CEO Arthur Hayes. A key test could come in late 2027 or 2028, when new data center capacity is delivered and customers face their compute commitments. Bitcoin and other cryptocurrencies could benefit from the excess liquidity that follows a bailout, Hayes said.

CNBC08:49

Hong Kong's Financial Secretary: A draft amendment to the relevant ordinance will be submitted within the year to establish a licensing regime for virtual asset trading and custody services.

According to a press release from the Hong Kong Special Administrative Region Government, Secretary for Financial Services and the Treasury Christopher Hui attended a policy briefing of the

Foresight Oct 6 09:28

Express News | Crypto-backed PAC supports funding for 32 pro-crypto House candidates

On October 6, Fairshake, a cryptocurrency political action committee funded by Coinbase, Ripple Labs, and a16z, announced its support for 32 House of Representatives candidates in the 2026 U.S. midterm elections. All supported candidates had voted in favor of the Clarity Act (the Digital Asset Market Clarity Act) in 2025, legislation that is currently stalled in the Senate. Fairshake will initially allocate $6 million to fund six of these candidates, providing $1 million each; the list includes three incumbent Democrats and three incumbent Republicans. Of the 32 candidates slated for support, 19 are Republicans and 13 are Democrats. The PAC expects to spend over $100 million on advertising for congressional races in 2026, with at least $30 million dedicated to the Ohio Senate race in support of Republican candidate Jon Husted. A Fairshake spokesperson stated that the organization is issue-oriented, offering bipartisan support to candidates who advocate for cryptocurrency and American innovation. With a cash reserve of $122 million, Fairshake aims to build the largest pro-crypto bloc in Congress. According to data from the consumer advocacy group Public Citizen, the PAC had spent $82 million on campaign advertising as of June. Polls indicate that the Democratic Party is poised to secure majority control of both the Senate and the House of Representatives in 2027.

Jinse FinanceOct 6 09:15

Interpretation of the U.S. CFTC's New Regulations: The regulatory scope covers crypto‑related activities involving leverage, margin, or financing, but it lacks jurisdiction over the spot market.

BlockBeats reports that on October 6, the U.S. Commodity Futures Trading Commission (CFTC) proposed two new rules on Monday, seeking to establish a U.S. regulatory framework for cryptocurrencies

BlockBeatsOct 6 00:31

The U.S. CFTC has proposed its first set of rules for the cryptocurrency market, abandoning a regulatory approach that relies solely on enforcement.

PANews reported on October 5 that Michael S. Selig, Chairman of the U.S. Commodity Futures Trading Commission (CFTC), stated in a Wall Street Journal op-ed that, following Congress's failure to pass

PANewsOct 6 00:29

The U.S. Treasury Department has withdrawn its proposed cryptocurrency monitoring rules targeting non-custodial wallets and CVC crypto‑mixing services.

According to Foresight News, Coin Center has published an article stating that the U.S. Treasury Department is removing two long‑pending cryptocurrency regulations from its regulatory agenda: the

Foresight Oct 5 22:22