NEW: @HyperliquidX PERPS PLATFORM @tradexyz SAYS ITS GITBOOK DOCUMENTATION WAS HIT BY UNAUTHORIZED ACTIVITY THIS MORNING
THE DOCS WERE FULLY RESTORED AS OF 14:15 UTC, AND USERS ARE TOLD NOT TO CLICK ANY LINKS IN THEM WHILE THE INVESTIGATION CONTINUES
The "stealth" bear market is in full-swing.
While the Nasdaq 100 erased -$4 trillion in 25 days, the "S&P 500 Excluding AI" hit a RECORD high on Friday.
AI stocks fell over -13% in October while the S&P 500 Excluding AI gained+8%.
What's happening? Let us explain.
(a thread)
BREAKING: The Nasdaq 100 has entered a technical correction, now down -10% from its October 6th record high.
Intel, $INTC, is now down -31% on the day, on track for its biggest drop on record since its 1971 IPO.
Quantum computing poses a serious threat to the cryptography blockchains currently rely on, while advances in AI compress best estimates for the threat's timeline.
That's why experts gathered in Cambridge to coordinate research upgrading our cryptography to be quantum-resistant.
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GOOGL just dropped 10% onchain across the board
Tradfi is closed for trading. No stonks allowed
Uniswap and tokenized stocks are where price discovery is happening
With stablecoins and x402, businesses can accept usage-based micropayments, and reduce friction to checkout.
E.g. you shouldn’t need a monthly subscription to read one article - your agent can just fetch it for you, and pay the business for that one article.
Saying there’s no reason to buy Bitcoin because anyone can create a cryptocurrency is like saying there’s no reason to learn English because anyone can invent a language.
In our recent PNAS work, we showed that a local, biologically plausible learning rule can be designed so that both the neural network and the learning rule itself are "learned." More importantly, this rule always emerges to behave like a generalized gradient descent.
https://t.co/qqPwLLAnVx
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Bitcoin (-7.3%) and Gold (-7.5%) are the two worst performing major assets so far in 2026. This is something we haven't seen before in any calendar year.
Surprising: Moody’s keeps #France at Aa3 w/a negative outlook despite the turmoil. Markets seem far less relaxed: 5y default insurance costs have surged to 103bps, the highest in over a decade. Investors are repricing French risk. Moody’s is standing still. https://t.co/8RNGBQEIAD
We are in a “stealth” bear market.
For the first time in history, nearly 60% of the S&P 500’s components are in a bear market, while the index trades 3% away from a record high.
We think this is a historic opportunity.
@TKL_Adam joins @cvpayne on Fox Business to discuss our view.
interpretability might be the most important scientific problem in the world right now, as I don't think we can solve alignment if we don't know what we're building. I think I have good news about it. I co-authored early work in mechanistic interpretability at OpenAI and came away pessimistic, because neural networks appeared to fold into arbitrary tangled knots. years later, I started openai's first large-scale automated interpretability project, finding about 2% of neurons legible with the primitive tools we had
with modern agentic tools and a much closer look, the picture looks totally different. the vast majority in models up to trillions of parameters are legible, and their circuits beautiful. many famous examples of tangled neurons turned out to be misunderstood. The roadblocks I expected mostly aren't there. I now think ambitious interpretability will be solved by the time we need it most, and possibly quite soon, as automated scientists keep improving. it may be a bitter lesson for interpretability: the simple thing, at absurd scale, works
https://t.co/zHij5zwKGT