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Brendan Ma, head of investment strategy at the Arbitrum Foundation, said he met with representatives of institutions managing about €800 billion in assets over 48 hours of closed-door meetings to discuss crypto.Private bankers and wealth managers kept returning to one problem:“There’s been business or ecosystem traction that has been divorced from any fundamental case.”Ma told CryptoSlate that allocators asked him how network activity connects to the asset an investor can own.Allocate or build in cryptoMa said institutions are drawn to networks “building towards durable, sustainable network revenues and a P&L that can be geared towards investment and reinvestment.”He described a…

Morning Minute is a daily newsletter written by Tyler Warner. The analysis and opinions expressed are his own and do not necessarily reflect those of Decrypt. And check out our daily news show ‘FOMO HOUR’ covering all of the top stories and market action.GM!Today’s top news: Crypto majors rebound despite hot PPI; BTC at $82.7k MSCI finalized index rules putting Strategy at risk of removal (MSTR -3%) White House has no crypto lead after Patrick Witt announces departure Binance US tries to raise $100M at $1B valuation Jupiter rolls out Papertrade-like perps product, does $1B volume first day BitcoinBTC · USD$81,790−1.01%24H7D1M1YYTDOct 9Oct 11Oct 13Oct…

In brief OpenAI said an internal research model used funds from a crypto wallet it had not been given to pay for a contract deployment on Ethereum’s Sepolia test network. The model derived keys from publicly known developer recovery phrases, checked 362 addresses, and judged the valueless test tokens acceptable to spend. It did not disclose using the account, and OpenAI says it has added safeguards to stop models getting live internet access in similar cases. An internal OpenAI research model used funds from a crypto wallet it had not been given to complete a coding task, deriving the wallet’s…

In brief BlackRock CEO Larry Fink says a U.S. moratorium on data center construction would trigger a recession, saying “so much of our economy is based on the build-out of this capex.” He dismissed the mounting backlash—over electricity, water and grid strain—as “misinformation,” insisting “data centers are not the problem.” The warning matters for crypto given Bitcoin’s macro sensitivity. BlackRock CEO Larry Fink has a blunt warning about what could derail the U.S. economy: slamming the brakes on the data centers powering the AI boom.Speaking to CNBC on Wednesday after BlackRock posted better-than-expected third-quarter earnings, Fink said the surge in…

In brief Bitwise CIO Matt Hougan argued in an investor note that Bitcoin benefits across nearly every macro scenario, framing it like the “Choose Your Own Adventure” books where different paths reach the same ending. If AI delivers “superabundance,” value flows to scarce assets like Bitcoin; if the AI bubble bursts, he sees a near-certain government bailout and money-printing that Bitcoin “was built for.” He hedged—citing Bitcoin’s 50% COVID drop and risks like a crackdown or quantum computing, but concluded macro “matters less than most people think.” No matter how the AI story ends, Bitwise’s chief investment officer argues, the…

In brief The Bank of Russia confirmed in an October 12 FAQ that direct crypto trades between individuals are legal only until July 1, 2027, citing new law. The regulator also says individuals cannot move crypto from a digital account to their own non-custodial wallet or transfer it to another person through depository-run addresses. Sberbank joined the central bank’s crypto exchange register on October 12 and plans to launch its first crypto products on December 1. Russians have a little over eight months left to trade Bitcoin and other crypto directly with each other. From July 1, 2027, peer-to-peer deals—where…