BTC $80,262.80 -1.12%
ETH $2,313.82 -1.97%
BNB $738.83 -2.08%
XRP $1.27 -4.21%
SOL $98.99 -3.31%
TRX $0.3310 +0.53%
DOGE $0.0783 -1.90%
ADA $0.1996 -2.96%
BCH $282.31 -2.12%
LINK $11.53 -2.07%
HYPE $93.54 +15.38%
AAVE $131.75 -3.08%
SUI $0.9174 -3.33%
XLM $0.1680 -2.67%
ZEC $1,306.74 +1.20%
AAPL $350.29 +1.52%
AMZN $226.98 -10.47%
GOOGL $282.68 -5.16%
MSFT $529.41 -4.39%
META $619.16 +0.47%
NVDA $211.17 -1.52%
TSLA $400.70 -0.79%
SNDK $1,354.94 -1.52%
INTC $75.59 -19.81%
SPCX $142.30 -1.56%
MU $922.20 -4.46%
AMD $543.75 -4.93%
BTC $80,262.80 -1.12%
ETH $2,313.82 -1.97%
BNB $738.83 -2.08%
XRP $1.27 -4.21%
SOL $98.99 -3.31%
TRX $0.3310 +0.53%
DOGE $0.0783 -1.90%
ADA $0.1996 -2.96%
BCH $282.31 -2.12%
LINK $11.53 -2.07%
HYPE $93.54 +15.38%
AAVE $131.75 -3.08%
SUI $0.9174 -3.33%
XLM $0.1680 -2.67%
ZEC $1,306.74 +1.20%
AAPL $350.29 +1.52%
AMZN $226.98 -10.47%
GOOGL $282.68 -5.16%
MSFT $529.41 -4.39%
META $619.16 +0.47%
NVDA $211.17 -1.52%
TSLA $400.70 -0.79%
SNDK $1,354.94 -1.52%
INTC $75.59 -19.81%
SPCX $142.30 -1.56%
MU $922.20 -4.46%
AMD $543.75 -4.93%

deca

All
Article
Flash

first_img Cryptocurrency research institution Delphi Digital: Speculation is the theme of this decade, and one should hold clearinghouses

On October 20, 2026, Jason Pagoulatos, a macro and market author at the cryptocurrency research institution Delphi Digital, released a report titled "The House Always Wins: Why Speculation is the Theme of This Decade." Pagoulatos stated that speculation has two long-term engines: constructive and lottery-like. Technological changes open the former, while fiscal and political pressures open the latter; historically, many famous bubbles have been driven by one or the other. Today, both are operating at high speed simultaneously, and the same batch of technologies is feeding both. He thus considers speculation itself as an investable theme, advocating for holding places for liquidation bets rather than holding the bets themselves.The data cited in the report includes that the U.S. federal deficit for fiscal year 2025 is $1.8 trillion, about 5.8% of GDP, with net interest around $1 trillion per year, exceeding defense spending. The Harvard Joint Center for Housing Studies states that the national median price for single-family homes in 2024 is 5.0 times the median household income; the National Association of Realtors reports that first-time homebuyers account for 21% of transactions, with a median age of 40. According to the American Gaming Association, legal sports betting amounts have risen from $6.6 billion in 2018 to $166.9 billion in 2025. Capital expenditures for Microsoft, Alphabet, Amazon, and Meta are approximately $416 billion for 2025, with guidance for 2026 totaling about $720 billion to $745 billion, plus Oracle.In terms of venues, Robinhood's event contract revenue for Q2 2026 is $156 million, higher than stock revenue of $129 million and crypto revenue of $100 million during the same period. Hyperliquid's expenses for 2025 are about $972 million, with transactions around $3 trillion. Kalshi reportedly raised funds at a valuation of about $40 billion, and Polymarket is set to relaunch in the U.S. by the end of 2025. The author also mentions that the most likely mistake is to hold inventory of the crowd and call it a casino. The report states that it is for educational and general informational purposes only and is not investment advice; the author may hold Bitcoin, HYPE, HOOD, and LIT, and affiliated party Delphi Ventures may invest in the assets or agreements discussed in the report.

hot_img Israeli AI startup Decart is negotiating a sale with an estimated valuation of around $6-7 billion, with SpaceX and Amazon identified as potential buyers

According to exclusive reports from CTech (Calcalist), Israeli AI startup Decart is in deep negotiations with an international tech giant for a sale, with a valuation of about $6 to $7 billion, and the deal could be signed next week. Founded in 2023, Decart focuses on the development of real-time video generation AI models, employing around 100 people, and has raised approximately $450 million to date. The company just completed a $300 million funding round in May, with a valuation of $4 billion. Initial negotiations were with NVIDIA, and as they were nearing an agreement, another giant intervened, prompting the founder to shift focus to the new buyer. Industry speculation suggests the new buyer could be SpaceX, but Amazon and Nebius are also reportedly interested in participating.Decart's technological advantage lies in its ability to generate videos at a cost far lower than its competitors. SpaceX founder Elon Musk has maintained regular contact with co-founder Dean Leitersdorf since experiencing the game Oasis developed based on Decart's technology in 2024. Sequoia Capital partner Shaun Maguire (who organized Musk's post-war trip to Israel) has been investing in the company since the seed round. If the buyer is SpaceX, it will establish its first R&D center in Israel. Previously, SpaceX had acquired AI programming startup Cursor for $60 billion after its IPO, and acquiring Decart would further strengthen its position in the AI infrastructure sector.

Interlace and BlockSec held the "Next Decade of Payments" summit, releasing the AI Agent Payment White Paper

On July 17, Interlace and BlockSec jointly held the summit "The Next Decade of Payments: Digital Currency, AI Agents, and the New Global Financial Order." The event brought together industry guests from AI, Web3, security, and payments to discuss the development trends of stablecoin payments, security compliance, AI agents, and global payment infrastructure.BlockSec co-founder Zhou Yajin and Interlace founder and CEO Michael Wu delivered keynote speeches on "Security and Compliance in Crypto Payments" and "Agentic Payment and the New Infrastructure of Global Finance," respectively, sharing their latest observations on the development trends of digital asset payments. As the scenarios for stablecoin payments continue to expand, the security compliance system and the construction of a new generation of payment infrastructure are becoming key supports for driving industry development. In the future, payment infrastructure will not only serve the function of capital flow but will also further evolve into a programmable, trusted, and verifiable value transfer system, providing underlying support for the connection between digital assets and real-world commerce.At the event, Interlace also officially released the white paper "The Value Transmission Layer of the AI Economy: From Concept to Implementation." The white paper was jointly initiated with ecosystem partners such as Bitget, BlockSec, Cobo, Conflux, Stable, Xagent, and Hetu, systematically defining the architecture, standards, and implementation paths of Agentic Payment infrastructure, providing a reference for value transfer in the era of the AI economy.

Michael Saylor: The biggest evolution of BTC in the next decade is the stability of the protocol layer, while expanding in the capital markets and application layer

Michael Saylor stated that the biggest evolution of Bitcoin in the next decade will come from fewer changes at the protocol layer and a greater role in other areas. He believes that the foundational layer of Bitcoin will become more solid, capital markets will continue to deepen, applications will expand, institutions will enter, and the world will build on Bitcoin. Bitcoin is not a tech stock, a payment company, or a software platform competing to add features, but a monetary network whose purpose is not to act quickly and disrupt things, but to move slowly and remain unbroken.Saylor indicated that Bitcoin has won the first important battle, and the world is increasingly understanding that Bitcoin is digital capital, possessing attributes such as scarcity, durability, portability, divisibility, programmability, and global transferability. The strongest version of Bitcoin is not to "replace all payment rails," but to become a neutral, global, scarce asset around which capital, credit, and commerce are organized. The foundational layer is not optimized for coffee payments, but designed for final settlement, reserve assets, collateral settlement, and ultimate ownership transfer.He believes that the four-year cycle of Bitcoin is still important, but no longer the dominant model. In the next decade, Bitcoin's price movements will be driven less by miner issuance and more by capital flows from ETFs, corporate treasuries, sovereign reserves, bank credit, derivatives, insurance, collateral, and global savings. Halving will tighten supply, while capital flows will determine the growth trajectory. Digital credit will accelerate Bitcoin adoption, connecting Bitcoin capital with the broader financial system.Saylor stated that the main question in the next decade is not whether Bitcoin can survive, but whether economic exposure is still connected to real Bitcoin or if too much "paper Bitcoin" is being formed. Custodial transparency, proof of reserves, risk management, capital structure, and counterparty risk will all become important.He expects that by 2036, Bitcoin will be more widely held, more deeply institutionalized, more politically significant, and become an important collateral asset in the digital credit market; while the foundational protocol itself may change less than everything built around it.

Analyst: To support a valuation of about $1.75 trillion, SpaceX's revenue needs to grow nearly 60 times in the next decade, an unprecedented increase

According to a report by Fortune, David Trainer, CEO of research firm New Constructs, analyzed that to support a valuation of approximately $1.75 trillion, SpaceX needs to increase its annual revenue to about $1.1 trillion by 2035, which is nearly a 60-fold increase from $18.7 billion in 2025, equivalent to maintaining an average annual revenue growth rate of about 50% over the next decade.According to the prospectus previously submitted by SpaceX, the company's revenue in 2025 is projected to be $18.7 billion, with a net loss of $4.9 billion. Trainer calculated based on a discounted cash flow model that if investors want to achieve an annualized return of about 10% over the next decade, SpaceX must achieve the aforementioned growth targets.Analysis indicates that if it reaches a revenue scale of $1.1 trillion, SpaceX's revenue would account for about 2.4% of the U.S. GDP in 2035, with an economic scale exceeding the entire U.S. utility industry and approaching three-quarters of the U.S. transportation industry.Trainer stated that although the artificial intelligence market has vast potential, many competitors, including Alphabet, Microsoft, NVIDIA, and OpenAI, are competing for market share, and SpaceX lacks historical precedent to achieve such a scale of growth. He believes that SpaceX could not only become the largest IPO in history but also the most expensive in terms of valuation.
app_icon
ChainCatcher Building the Web3 world with innovations.