The Triple Tape — Thursday, October 22, 2026. Morning briefing across crypto, stocks, and metals.

Crypto: OCC finalizes first GENIUS Act stablecoin rule, effective Jan. 18; bankers push back (The Block, Decrypt, CoinDesk); Chinese prosecutors seek to confiscate 61,800+ BTC tied to a ~$5.7B fraud after a UK court ruling (CoinDesk); Solana's Alpenglow upgrade goes live, finality ~150 ms (The Block, Decrypt); Standard Chartered signs deal to buy Zodia Custody (The Block, Cointelegraph); Zcash sets NU7 upgrade for ~Nov. 5 (CoinDesk). Tape (CoinGecko, 24h): XMR +10.2%, WLD −7.7%, UNI −6.2%. BTC ~$81.7K.

Stocks: New Mexico judge orders Meta to pay $25B in Cambridge Analytica case (Reuters, AP); US orders non-emergency staff out of Saudi Arabia amid Houthi attacks, Brent ~$112 (Reuters, AP); EQT-led group to take Qiagen private at €46.50/share (company releases); LSEG to buy Octus for $3.535B (LSEG); up to ~1.3B SpaceX shares eligible to sell from today. Earnings: Tesla adj EPS $0.48 beat, FCF $1.53B, 2026 capex cut to ~$20B; Meta revenue $64.6B (+26%), Q4 guide $73–76B, new Class C stock; Lam Research record $8.22B revenue, guide ~$8.6B; IBM beat but lower; TI beat; Rollins revenue miss. Premarket (Yahoo): LRCX −8.9%, ROL −7.4%, MSTR −6.1%.

Metals: Hudbay and Mitsubishi approve $2.1B Copper World mine in Arizona (Mining.com); Royal Mint reports record silver and platinum sales, gold coin revenue +21% q/q (Kitco); US sets November deep-sea minerals auction near American Samoa (Mining.com); Brazil court halts Belo Sun's ~$300M gold project (Mining.com); First Quantum's Kansanshi expansion beats design capacity (Mining.com). Tape (COMEX futures): palladium −3.7%, silver −2.9%, platinum −2.8%.

Calendar: Jobless claims 8:30 a.m. ET; leading index 10:00; EIA natural gas storage 10:30; KC Fed manufacturing 11:00; 5-year TIPS auction 1 p.m. Before the open: P&G, Union Pacific, Honeywell, Lockheed Martin, Blackstone, Dow. After the close: Western Digital. FOMC Oct. 27–28.

Takeaway: Watch whether oil or earnings drives the open — Tesla showed spending cuts can spook investors as much as raises, and with Brent near five-month highs the market has little patience today.

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The Triple Tape — Wednesday, October 21, 2026. Morning briefing across crypto, stocks, and metals.

Crypto: Microsoft, Alphabet, Goldman Sachs among 16 companies objecting to the planned OKX-ICE tokenized stock venue (Decrypt, Cointelegraph); North Korea-linked Drift exploiter sends ~$61M of ETH through Tornado Cash, still holds ~$198M (Decrypt, Arkham); FINMA approves Switzerland's first retail ETF holding bitcoin directly (The Block, Decrypt); Utah sues Kalshi and two Susquehanna firms as an illegal gambling business (The Block, Cointelegraph); Mt. Gox pushes repayment deadline to Oct. 31, 2027 with ~34,388 BTC left (Decrypt). Tape (CoinGecko, 24h): ZEC +11.9%, NEAR +10.0%, WLD +8.9%. BTC ~$83.2K.

Stocks: Musk says a SpaceX–Tesla merger would be "a good idea" as both form special committees (Reuters, WSJ); Super Micro raises preliminary fiscal Q1 revenue to $18.5–19.5B (company release); Salesforce to buy Braze for ~$5.66B, $47.50/share (Reuters); Anthropic draft S-1 shows $16.3B first-half revenue and ~$9B compute spend (WSJ); Getty Images files Chapter 11 (Reuters). Earnings: SpaceX revenue $14.58B (+161%), $4.4B profit, AI revenue tops Starlink; Netflix EPS $0.87 beat but Q4 outlook light, ad target cut to ~$2.7B; Intuitive Surgical beat on revenue $3.05B and adj EPS $3.00 yet falls; Capital One adj EPS $6.69 beat; United record $17.9B revenue, adj EPS $2.54 slightly light, Q4 guide below. Premarket (Yahoo): SMCI +12.0%, SPCX +10.2%, ISRG −7.8%; NFLX −6.0%.

Metals: Codelco offers Europe 2027 copper at a record $350/t premium (Reuters/Kitco); Trafigura at LME Week: data-center copper demand nears 1 Mt (Fastmarkets); Fresnillo Q3 silver −11.6% to 10.3 Moz, gold −10.7%, guidance kept (company/Investing.com); CIBC cuts Q4 gold forecast to $4,500 and 2027 to $5,200 (Kitco); India's September gold imports fall to $1.8B, lowest since March 2024 (WGC/Kitco). Tape (COMEX futures): palladium −1.9%, silver −1.0%, platinum −1.0%.

Calendar: MBA mortgage applications 7 a.m. ET; EIA weekly petroleum status 10:30 a.m.; 20-year Treasury bond auction 1 p.m. Fed quiet period ahead of the Oct 27–28 FOMC; Reuters poll sees a December hike. Before the open: AT&T, Philip Morris, Thermo Fisher, Abbott, NextEra. After the close: Meta, Tesla, IBM, Texas Instruments, Lam Research.

Takeaway: Watch whether Meta and Tesla can show what SpaceX just did — giant AI spending turning into real revenue — with Brent above $110 and a December Fed hike on the table.

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The Triple Tape — Tuesday, October 20, 2026. Morning briefing across crypto, stocks, and metals.

Crypto: BlackRock files for the iShares Bitcoin Managed Protection ETF (PBIT), an options-on-IBIT fund that limits losses and caps gains (The Block, Cointelegraph); JPMorgan puts JPM Coin on Ethereum mainnet for institutional clients (CoinDesk, Bloomberg); CFTC tells court CME lacks standing to fight its perpetual-futures policy (CoinDesk); Strive buys 4,045 BTC (~$335M) to 36,818 BTC as its 15% SATS preferred settles, Strategy adds 267 BTC and buys back $193M of STRC (Decrypt, The Block); SkyAI sells its entire Solana treasury, launches $201M tender (Cointelegraph, The Block). Tape (CoinGecko, 24h): NEAR −6.9%, WLD +5.1%, XMR +4.5%. BTC ~$81.4K.

Stocks: OpenAI racing to raise ~$30B at a $1.4T+ valuation before Anthropic's mid-November IPO (Reuters); 3M expands Amazon data center deal, Amazon gets warrant for ~3.16M shares at $164.89 (3M 8-K); Tradeweb to buy Trumid for ~$1.97B (Tradeweb); Merck KGaA to buy Silence Therapeutics for ~$1.3B, $20/ADS (Reuters); DHS bans DeepSeek from federal civilian agency systems (CNBC). Earnings: Cleveland-Cliffs adj EPS $0.28 vs ~$0.22, first profit in two years, closed ~+16%; Steel Dynamics EPS $5.26, below its own guide; Crown Holdings adj EPS $2.39 beat but Q4 guide $1.63–1.73 below ~$1.79. Premarket (Yahoo): STLD −5.8%, SKHY −4.7%, AAOI −4.1%; MMM +3.7%.

Metals: BHP September-quarter copper output down 19%, guidance held (BHP, MiningNews.net); Anglo American Q3 copper −5% after record Chile snowfall, 700–760 kt range kept (Reuters/Mining Weekly); LS MnM weighs copper smelting cuts as treatment charges turn negative (Reuters/Kitco); Shenghe sells 51% of rare-earth processing units to state-owned China Rare Earth Group (Reuters/Kitco); LME copper stocks hit two-month high of 147,450 t (Reuters/Kitco). Tape (COMEX futures): palladium −1.2%, gold −0.5%, platinum −0.2%.

Calendar: September housing starts and building permits 8:30 a.m. ET; pending home sales 10 a.m. Fed quiet period ahead of the Oct 27–28 FOMC. Before the open: GE Aerospace, GM, RTX, Northrop Grumman, 3M, Halliburton. After the close: Netflix, SpaceX, Intuitive Surgical, Capital One, United Airlines.

Takeaway: Watch whether the AI money chase can outrun a 10-year yield above 5% — OpenAI's $30B sprint before Anthropic lists, SpaceX and Netflix after tonight's close, and oil back near $100.

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