**Cryptocurrency News**

Ethereum’s co-founder, Vitalik Buterin, has made a significant announcement: he plans to donate all his crypto proceeds and halt new token investments. This move underscores his commitment to philanthropy and transparency in the crypto space. Meanwhile, a prominent Bitcoin bull highlighted that Bitcoin has logged more trading hours than equities since the Nixon Shock, suggesting that Bitcoin is now more integral to financial markets than traditional stocks. However, Bitcoin’s recent performance has been rocky, taking over an hour to mine a block—raising questions about whether this is an anomaly or a predictable deviation. Both Bitcoin and Ethereum have experienced drops, while Dogecoin remains flat. This volatility follows a weak private employment report that has spooked investors. A top trader has commented that a “massive thrust” is required to reignite Bitcoin’s bull run.

**U.S. Political Landscape**

Kevin O’Leary has voiced concerns over Kamala Harris’ tax plan, warning that it could severely impact U.S. businesses and pose a threat to the American economy. JD Vance is under scrutiny for the high costs associated with Trump’s new IVF plan. In crypto news, Trump’s crypto project Ripple and the State of Wyoming are gaining attention amid the stablecoin surge. Trump’s proposal to ban mortgages for undocumented immigrants has sparked intense debate, with both sides presenting compelling data. Furthermore, Trump reiterated his plans to make the U.S. the world capital of crypto, advocating for a future-focused approach rather than attacking emerging industries. Mark Cuban drew parallels between Kamala Harris’ current strategies and Trump’s tactics in 2016, asserting that she is setting the rules for her party.

**U.S. Market Trends**

Smith & Wesson Brands reported disappointing results, joining other big names like Planet Labs PBC and Broadcom in pre-market declines. U.S. stocks are poised for a steep fall amid growing anxiety ahead of jobs data releases, with the VIX (Volatility Index) surging. A strategist has identified two primary reasons for expecting increased volatility in the near future. The Dow Jones Industrial Average dipped over 200 points, and the S&P 500 fell for the third consecutive session, with the Fear & Greed Index remaining in the ‘Neutral’ zone.

**Global Political Developments**

The U.S., UK, and EU have signed a legally binding treaty on artificial intelligence aimed at protecting human rights, democracy, and the rule of law. In Japan, a Prime Ministerial candidate has cautioned that President Biden’s opposition to Nippon’s acquisition of U.S. Steel could undermine trust among allies.

**U.S. Economic Updates**

OPEC+ has decided to delay its planned output increase by two months until oil prices stabilize.

**Global Economic Snapshot**

Asian and European markets are currently in the red. Crude oil prices remain below $70 per barrel, and the U.S. dollar is weakening, highlighting global market trends while America slept.

**Technology Sector**

Despite stringent U.S. export controls, China’s markets are still acquiring Nvidia AI chips through smuggling channels. ASML’s advanced chip tools face Dutch export restrictions due to U.S. pressures. China offers Nvidia’s AI chips at discounted rents as low as $6 per hour, defying export restrictions. Google’s advertising technology practices are under scrutiny by the UK Competition Regulator. Entertainment company BloomZ’s stock saw a pre-market jump on Friday, prompting questions about underlying factors. Intel is considering selling its stake in Mobileye amid mounting pressure, leading to a stock slide. Notably, Nvidia, Super Micro, and Arm tumbled 2% in pre-market trading alongside other semiconductor stocks facing significant declines.

Salesforce has expanded its data security portfolio by acquiring a company for $1.9 billion. CEO Marc Benioff has shifted his strategy towards autonomous AI agents following advice from a venture capital firm that no incumbent is safe from disruption—it’s about navigating through the innovator’s dilemma. Intel CEO Pat Gelsinger faces increasing pressure as Intel evaluates a major AI strategy overhaul to catch up with Nvidia and AMD.

Apple supplier Qualcomm is eyeing Intel units to strengthen its product line amid ongoing competition. Despite tensions between Beijing and Washington, Alibaba is boosting its U.S. expansion with a new AI sourcing tool, acknowledging that tariffs have added costs for both sides.

**Electric Vehicle Sector**

NIO is anticipated to rally by around 65%, according to top analysts’ forecasts for Friday. Tesla has managed to stay clear of controversies unlike GM and Volkswagen, gaining favor with industry watchers who call FSD (Full Self-Driving) Elon Musk’s “passion project.” However, a Tesla bull criticized the EV giant for Elon Musk not being recognized as one of Time Magazine’s ‘Most Influential People’ in AI, suggesting that Tesla needs to improve its media management. Ford saw a 29% surge in August EV sales, driven by the F-150 Lightning, despite scaling back future EV plans. Toyota has reduced its 2026 EV production plans by 30%, trimming targets to 1 million cars due to weakening global demand.

A former Tesla executive commented that while the company benefited from EV subsidies, it was hurt by Trump’s policies, calling any argument otherwise historical fiction.

**Consumer Sector**

Volkswagen’s battery plant in Germany will operate at reduced capacity due to financial strains. McDonald’s is rolling out a smaller McFlurry in sustainable packaging as part of its goal to fully shift to renewable coverings by the end of 2025.

**Communication Sector**

The FCC chief defended Elon Musk’s X and Starlink amid Brazil’s punitive actions, warning business leaders about Brazil becoming an “uninvestable market.” Linda Yaccarino’s trusted lieutenant Nick Pickles has departed from X amid regulatory challenges and advertising crunches, having made the decision several months ago.

Telegram has updated its policy on private chat moderation following CEO Pavel Durov’s arrest, providing essential information on what users need to know. India has overtaken the U.S. as the second-largest global 5G smartphone market. YouTube has shut down Tenet Media Channel following a U.S. indictment; right-wing influencers claim they are victims of a Russian plot.

**Industrial Sector**

Cleveland-Cliffs’ chief criticized U.S. Steel for what he termed a “pathetic blackmail attempt” on Pennsylvania and the U.S. Boeing’s Starliner prepares for its departure from the ISS and crewless landing in New Mexico following tense technical discussions with NASA. Delta, Southwest, and other airlines face scrutiny from the U.S. Transportation Department for unfair rewards programs.

U.S. Steel CEO David Burritt was blasted by the United Steelworkers President after a $15 billion deal with Nippon Steel came under scrutiny from the Biden administration.

**Healthcare Sector**

Wall Street’s most accurate analysts have weighed in on three healthcare stocks offering over 3% dividend yields. GSK’s asthma drug met its main goal in a Phase 3 study involving patients with smoker’s lungs, setting up competition with Amgen/AstraZeneca’s drug.

**General News**

Economist Paul Krugman criticized Elon Musk’s and Trump’s federal efficiency plans, warning about potential risks to Medicare and Social Security by stating that “government is an insurance company with an army.”

**Space Exploration**

Elon Musk’s SpaceX has reached a new milestone by launching its 7,000th Starlink satellite into orbit.

**Market News and Data brought to you by Benzinga APIs**