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  • Alex Gibney Says He Got “Nothing Back” From Elon Musk When Reaching Out After Doc Legal Threat

    Alex Gibney Says He Got “Nothing Back” From Elon Musk When Reaching Out After Doc Legal Threat

    Musk documentary filmmaker Alex Gibney responded Sunday to a documentary legal threat from Elon Musk.

    “I reached out immediately… But he clearly wasn’t interested in talking. We made so many formal outreaches to him, and with the exception of his remarks on Twitter, we received nothing back,” Gibney said during a keynote conversation in Toronto.

    The veteran doc maker said Musk was heavily lawyered and fact-checked, so he’s confident about the veracity of his account of the tech billionaire. But he told the TIFF audience he has “great concern” that Bleecker Street will be able to theatrically release the near-four hour documentary in October and HBO Max will be able to stream the film, as planned, before Warner Bros. Discovery is taken over Paramount as part of an ongoing merger and acquisition process.

    “I do worry about the storm clouds on the horizon and the fact that they (HBO) are in the midst of a takeover battle by Paramount. Larry Ellison, who is cited in the film, is one of Elon’s friends and one of the investors in his takeover of Twitter… But so far, so good,” Gibney said. “It’s a great concern and the consolidation of the media and also the aggressive editorial takeover of the media by the tech barons is really deeply concerning,” he added.

    Gibney’s comments follow the Musk film world premiering in Venice before shifting to TIFF for a North American bow on Monday. The world premiere was followed by attorney Alex Spiro, acting for Musk, sending Gibney and his production team a letter, alleging they had misrepresented facts about the tech mogul.

    And Musk himself blasted the film as a “boring … hit piece” on X. The letter — confirmed by The Hollywood Reporter — focuses on what Spiro says is an insinuation in the film that Musk used his Starlink satellites to somehow influence the 2024 presidential election to boost Donald Trump.

    Earlier, Jigsaw Productions issued a statement after receiving Spiro’s letter: “Alex Gibney’s films are consistently recognized for their in-depth, fact-driven explorations of influential figures and corporations, coupled with his bold and engaging directorial style. This approach has garnered him international praise, an Academy Award among other accolades, and a reputation that The Times of London recently lauded as the ‘gold standard for fearless journalistic integrity.’ The right to engage in open debate and fact-based examinations of powerful public figures is protected by the First Amendment — something that should be recognized and defended by all Americans, including the associates of Elon Musk, who has proclaimed himself to be a ‘free speech absolutist.’”

    Musk is Gibney’s most recent film and follows a career making documentaries that investigate powerful institutions and individuals. In Musk, Gibney looks at the tech mogul behind electric cars, space travel, social media, AI, and more.

    During his keynote, Gibney discussed Elon Musk’s infamous DOGE purge and its impact on the independence and financing of USAID, the foreign aid agency. “When you’re into hundreds of thousands of people who are killed by performative cruelty, it’s really a staggering moral stain on Elon Musk and the federal government,” he argued.

    Gibney also discussed Musk’s use of stock manipulation, as well as securing government handouts and energy credits, as part of his exploitation of financial markets. “You’ve got a con artist who has put in the White House another con artist, and they just keep running bigger and bigger cons, because there’s no Department of Justice or FBI to tell them to do otherwise,” he told the TIFF audience.

    Gibney is also a producer of Edward Said: Between Worlds, a film about the Palestinian scholar, that is also screening at the Toronto Film Festival. “I just find him such a compelling public intellectual at a time when there’s a dearth of public intellectuals who engagement with such a sense of humanism, and obviously this is one of the great global scandals of this moment, the genocide in Gaza and the horrific things that are happening on the West Bank,” he said.

    Gibney’s other films include the Oscar-winning Taxi to the Dark Side, The Last Gladiators, Mea Maxima Culpa: Silence in the House of God, The Armstrong Lie and Citizen K.

  • Anthropic CEO Pushes to ‘Slow the Pace’ of AI Development, Other CEOs Fall in Line

    Anthropic CEO Pushes to ‘Slow the Pace’ of AI Development, Other CEOs Fall in Line

    It’s been an eventful week for Anthropic. Following a viral tweet from a former employee who accused the company of “gambling with lives” over the speed of developing frontier models, CEO Dario Amodei has called on all major US AI firms to “slow the pace” of the development of technology. And many of the biggest AI CEOs have chimed in to agree with him.

    Amodei argues that a “coordinated pacing strategy” would allow companies to focus even more resources on alignment, testing, and evaluating models as they develop, as well as on interpretability (understanding what’s actually going on inside an AI model).

    The CEO said Anthropic “is unilaterally committing” to a three-stage plan for AI firms. The first step will involve adding third-party embedded evaluators to AI firms, who will use their employee-like access to monitor training, deployment, and operational and safety practices in place at those firms. For example, these external reviewers would have the right to independently publish key findings on risk levels, incidents, practices, and the access they did or didn’t receive.

    The second step, which Amodei calls Democratic Coordination, involves top AI firms voluntarily working together to set safety standards and to limit the pace of development, with the US government mediating, or at least enabling, these discussions due to antitrust concerns.

    Global Coordination, the third step, involves making deals with foreign countries to limit the most potentially dangerous use cases, such as making biochemical weapons. Higher levels of these deals could involve adding a “speed limit” to development, creating a global standards body, or even a total pause.

    Amodei’s post is notable, though perhaps not unprecedented. We’ve seen lengthy posts about the future of AI from other CEOs, too. And tech companies of all stripes have played the regulatory dance with Congress and the White House for years. In 2018, Meta CEO Mark Zuckerberg pushed for “the right regulation.” But the company and Google routinely turn around and spend millions lobbying to kill any resulting bills.

    According to Amodei, “the most effective method of pacing is via regulation that targets all US frontier AI companies, as that covers even those who are unwilling to cooperate voluntarily.”

    The Gang’s All Here

    Anthropic’s stand against the Pentagon notwithstanding, few companies want to be the odd ones out, particularly if that will result in “the AI is going to kill us” headlines. That’s probably why you saw rival AI firms get in line after Amodei published his post.

    OpenAI CEO Sam Altman

    OpenAI CEO Sam Altman, who has a rather frosty relationship with Amodei, popped up on X to say, “I agree with Dario that we need to pace the frontier. This has been a primary topic of discussions we’ve had at OpenAI in recent weeks. Committing to having independent evaluators with employee-like access is a great idea, and we will do the same. We’ll have more to share soon.”

    One point of concern for Amodei was OpenAI agents escaping to the open internet and attacking Hugging Face. “My worry [is] that in 6-12 months, such a swarm could be capable of taking over the entire internet with a persistent botnet (potentially causing hundreds of billions of dollars in damage), and that the scale of damage would continue to increase from there if AI becomes more powerful without the necessary guardrails,” Amodei wrote, though he didn’t put all the blame on OpenAI. “Incidents have happened across the industry, including at Anthropic, and I believe it’s incumbent on every frontier AI company to act as if OAI-HF had happened to them.”

    SpaceX CEO Elon Musk

    SpaceX CEO Elon Musk, meanwhile, who was locked in a long legal battle with OpenAI and a public spat with Altman, said “Dario is right” in a post on X.

    Google DeepMind co-founder Demis Hassabis

    Google DeepMind co-founder Demis Hassabis added, “Dario’s essay points towards the right path forward. The details need working through, but the direction is correct for meeting this critical moment. This is also why we recently put out our proposal for an industry-wide standards body for frontier AI.”

    Microsoft CEO Satya Nadella

    Microsoft CEO Satya Nadella took a more measured approach. “For firms, it’s imperative that they retain full control over their unique and tacit knowledge,” he tweeted today. “Every organization should be able to build its own continuous learning loop/hill climbing machine, without becoming dependent on any one model provider, and have the ability to embed its own knowledge into models and weights they control.

    “So, in this context, we welcome the research, focus, and deliberate pacing needed to get alignment right as the design goal,” he continued. “We also welcome ideas like ’embedded evaluators’ and the broader efforts to develop the mechanisms to make this more than just talk.”

    Nadella stressed that this shouldn’t be “controlled by a handful of entities, but must have broad representation across the ecosystem, countries, and fields, including academia.”

    Recommended by Our Editors

    ‘A Start, But Not Enough’

    Not everyone agrees. Former Stability AI CEO Emad Mostaque expressed doubts about whether the proposed neutral evaluators could keep up with “swarms” of AI agents, and questioned how such a project could ensure they were truly impartial.

    Earlier this month, Sen. Bernie Sanders (I-Vt.) proposed legislation that would “permanently ban the development and deployment of superintelligent AI and temporarily pause advanced AI development until a federal regulator has established safety rules.”

    Following the posts from Amodei, Musk, and Altman, Sen. Sanders said their promises are “a start, but it’s not enough.”

    “When you are racing towards a cliff, you don’t just ease up on the gas pedal,” Sanders tweeted. “You hit the brakes. When the future of humanity is at stake, we need a PAUSE on advanced AI development and a ban on artificial superintelligence — an AI mind smarter than any human and capable of operating independently beyond our control.”

    Sanders pushed President Trump and Chinese President Xi Jinping to “negotiate a treaty to pause AI and ban superintelligence” at their upcoming AI summit, “before it is too late.”

    In Ireland this week, Trump argued that people are “bringing up things that won’t happen,” and said he wants the US to win the AI race over China.

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  • ‘On Behalf of My Son’ Review: A Strained Brazilian Drama About a Mother’s Apology Tour

    ‘On Behalf of My Son’ Review: A Strained Brazilian Drama About a Mother’s Apology Tour

    A Brazilian drama with a powerful premise but labored execution, Gabriel Martins’ “On Behalf of My Son” follows the ripple effects of a tragic bus accident through the eyes of the driver’s mother, Vicentina (Rejane Faria). As she pillories herself with an apology tour, family members of the other victims veer in and out of the spotlight, offering more potentially affecting moments which — by structural necessity — quickly fade from view. Instead, the dramatic focus pivots entirely around Faria’s performance, which unfortunately works against the movie, more often than not.

    Opening with unassuming portraits of passengers on their commute in the city of Belo Horizonte, “On Behalf of My Son” begins with an enticing visual setup for individual stories that don’t fully materialize. In the moment, however, Martins imbues tremendous intrigue through snippets of the seemingly distracted middle-aged driver, Wesley (Renato Novaes), and eventually, through the crash itself. Its presentation is shocking and harrowing even if you know it’s coming.

    The film is at its most vigorous here, when its possibilities lie ahead. In the few moments we see Vicentina before she’s told of this tragedy, the aged character hobbles around on her crutch and performs unassuming household tasks with a captivating, disaffected demeanor, as she curtly cuts off an incoming phone call (the dramatic irony of which only the viewer is aware). Something’s clearly on her mind, and we never need to know exactly what in order for her to feel familiar.

    Once she’s told of the tragedy by her younger neighbor Joana (Maíra Azevedo), the routine of having to answer questions and identify her son’s remains allows Faria to shift quickly into thorny territory, promising a film that lives within the rankling discomfort of loss. Wesley’s twin brother (also played by Novaes) briefly comes to visit, practically conjuring Wesley’s ghost as he wanders around the house. However, gossipy TV news stories speculate on Wesley’s intent and state of mind, foisting doubt upon the mourning matriarch as an intimate mystery fades into view. Her way of dealing with the ensuing guilt is to track down the families of the other victims and apologize on her son’s behalf, which, on paper, makes for a fascinating approach to grief, but proves rote and repetitive in execution.

    Across nearly two-and-a-half hours, the camera follows Vicentina — from an observant distance when she makes arduous journeys between neighborhoods, and then in closeup when she arrives — as she meets with family members one by one. Few of these sit-downs play out with meaningful differences until late into the runtime, during which Faria is shouldered with dramatic heavy lifting that doesn’t quite gel with her approach. She’s clearly adept at summoning despair when required, but behind the character’s rehearsed apology (which we hear spoken ad nauseam) is a near-identical approach to emoting that proves troublesome when repeated back to back. It’s a performance of loud thoughts writ large across her face, reeled in by pursed lips, resulting in the awkward effect of stilted emotions struggling to be expressed, when the film ought to be at its most volatile.

    A handful of those she visits offer riveting work in return — like Fábio Leal as a grieving, battered lover who harbors complicated feelings about his fiancé’s death — but Vicentina becomes a mere interloper to these lives, and they seldom affect her own sense of self, or her sense of contrition, in the process. Those who reject or question her motives are pushed far into the movie’s gradual, calculated unspooling, gesturing at thorny complexities which are never allowed to arise.

    The recurring appearance of a mysterious friend of Wesley’s, a death-metal frontman with dwarfism named Fred (a heartbreaking Giovanni Venturini), becomes vital to Vicentina understanding that he lived a life of unexpected interests and frustrations. But before these doubts and mysteries can be folded into her worldview, the focus pivots elsewhere, never allowing even dead ends and unanswered questions to emotionally linger, before the film wraps around to questions of how Vicentina is to live and cope going forward.

    Martins has a deft eye for place and environment. Many of the victims are poor, and his camera’s tour of Black Brazilian lives hints at a multifaceted cultural portrait not usually contained within the Brazilian cinema that takes hold in North America. (At least, not since “City of God.”) However, the fluidity of his exploration is hardened early on, thanks to a tedious focus on hitting the same beats with little variety or escalation. It is, at best, intriguing from a safe distance, where its detailed, rundown textures can tell you more about its characters’ struggles than up-close depiction of their inner lives ever does.

  • Why Jon Hamm Says ‘American Hostage’ Feels “Very Relevant” to “Current Political Climate”

    Why Jon Hamm Says ‘American Hostage’ Feels “Very Relevant” to “Current Political Climate”

    In Jon Hamm’s new series, American Hostage, he stars as a local news broadcaster who finds himself in the middle of a hostage situation when a disgruntled borrower kidnaps a mortgage broker.

    The 1977 true crime story, which was chronicled on a narrative podcast of the same name also starring Hamm, is decades old, but its political themes closely mirror today’s world, Hamm told The Hollywood Reporter on Sunday.

    “ I think that there’s some thematic devices that resonate in the culture politically now,” Hamm said at The Hollywood Reporter’s Studio at 1 Hotel during TIFF, presented by sponsor Canada Goose. “I think the idea of a certain segment of the population being overlooked, or feeling overlooked or feeling under-addressed, in their wants and needs and desires. The show is called American Hostage. We fought very hard for that title because we thought it really spoke to the story on several occasions. This man obviously takes a person hostage, but is he in fact hostage to his American Dream?” 

    “There’s a lot of resonance to the title,” the Emmy winner added. “I think that’s why the story, for whatever reason, feels — even though it’s a 50-year-old true story — it feels very relevant, given the current political climate.” 

    Co-created by Shawn Ryan and Eileen Myers, American Hostage is described by Sony as a “psychological thriller that tells the harrowing true story of Fred Heckman, a beloved Indianapolis radio reporter who is thrust into the middle of a life-or-death crisis when hostage-taker, Tony Kiritsis, demands to be interviewed on his popular radio news program.”

    The news story on which the series is based made headlines at the time and reflected a changing media landscape, where live local stories made national news. For Hamm, the local news story he remembers as being the most significant is O.J. Simpson’s infamous police chase in June 1994.   

    “ I think probably most people’s first experience of any of that was the O.J. situation because it happened in the middle of a huge sporting event,” Hamm said. “It was national. Most of us live in L.A., and L.A. had a car chase kind of every day, but it was very local. That became a very daily kind of thing in the ’90s. Some helicopter would chase some car going somewhere. The original one was most likely the O.J. situation.” 

    “If you go back in time, this [1977 Tony Kiritsis case] is one of the first times we kind of see a local story explode nationally,” Hamm continued. “Another similar thing that happened was the Patty Hearst situation, where when they raided the house down in South Central Los Angeles. … It was the beginning of where we are now. I think the salacious part of this story — through no fault of its own — [it became] this life or death story. [It’s] kind of where we have landed now, where everything is maximized for the salaciousness of its content.” 

    American Hostage also shows how audiences previously trusted the information delivered by their news organizations, in stark contrast to today where trust in the media remains at record lows, according to data from Gallup. Ryan emphasized that the “journalistic aspect to the show” is “very pertinent today.”   

    “Right now, we live in a very fractured journalist world,” Ryan explained. “You can kind of choose your news more than the news really informing you these days. Back then, I’m old enough to remember what it was like for journalists to be trusted and for the news to be something that was sacred.”

    Ryan added that Hamm’s character is “stuck in a very precarious position” in the series because he’s a journalist “who has invested decades into building his reputation as telling the truth … and now he’s also expected to be a hostage negotiator and to try to save two lives.”  

    American Hostage is scheduled to premiere on MGM+ on Sept. 20. 

  • Ella Langley’s ‘Dandelion’ Album Returns to No. 1 Spot on Billboard 200 for First Time in Four Months, So ‘Choosin’ Texas’ Won’t Get Lonely at the Top

    Ella Langley’s ‘Dandelion’ Album Returns to No. 1 Spot on Billboard 200 for First Time in Four Months, So ‘Choosin’ Texas’ Won’t Get Lonely at the Top

    Ella Langely’s fans are choosing her “Dandelion” album as a complete piece of work, and not just staying entirely trained on her long-running “Choosin’ Texas” smash. “Dandelion” has returned to the No. 1 spot on the Billboard 200 album chart for a third non-consecutive week at the top. Its previous stay at No. 1 was contained to the first two weeks it was out, in late April , but the album has rarely been too far from the summit in the intervening four and a half months.

    With the re-ascent of “Dandelion” on the album chart, probably no one needs to be told that this means Langley is again topping both of Billboard’s primary charts, as the indomitable “Choosin’ Texas” remained at No. 1 on the most recent Hot 100 singles chart to be released. The next Hot 100 will be made public on Monday, and chances are good that “Texas” will still be on top, which would mark the song’s 22nd week at No. 1. If that turns out to be the case, Langley will have tied Mariah Carey’s all-time record of 22 weeks for “All I Want for Christmas is You” and be one week away from breaking the record.

    “Dandelion” benefited from the ongoing hunger for all things Langley, but also from a Labor Day holiday period in which there were no huge albums debuting. It reached the summit with 67,000 equivalent album units. That’s pretty much par for the recent course for Langley’s album; that figure was down just 1% from the previous week for her. But as Billboard pointed out, 67,000 was the lowest number for a No. 1 album in more than a year. (The last time an album was No. 1 with fewer units was in May 2025, when SZA’s “SOS” topped the chart with just 52,000.)

    The only new album to make the top 10 was Adela‘s first full-length alum, “Prima,” which bowed at No. 4 with 56,000. The numbers for Adela were tilted toward full-album sales, with 31,000; streaming (SEA) units were good for another 25,000 units, on the strength of 25.94 million on-demand streams. The album debuted at No. 1 on the album sales chart and No. 14 on the streaming albums chart.

    Beyoncé’s “B’Day” virtually counted as a new album, reentering the chart for the first time in 18 years due to a 20th anniversary deluxe reissue. It reentered at No. 8 with 38,000 units.

    Rounding out the top 10: Olivia Rodrigo, still riding high at No. 2 (with 64,000 units, down just 4%), followed by Morgan Wallen at No. 3, Noah Kahan at No. 5, Ariana Grande at No. 6 (up nine spots thanks to a deluxe edition with live tracks coming out), Rod Wave at No. 7 (down six spots and 57% after debuting at No. 1 a week ago), Drake at No. 9 and Olivia Dean at No. 10.

  • Harry Styles reveals Argentinians CA7RIEL & Paco Amoroso are joining his tour

    CA7RIEL & Paco Amoroso are on their Free Spirits World Tour until November, but they’ll be hitting the state again in 2027 for one of the biggest milestones of their career. On Thursday, Harry Styles dropped the dates for his Together, Together 2027 tour, and fans quickly noticed the Argentine duo’s name. 

    CA7RIEL and Paco Amoroso are one of the most unique acts in music right now© Getty
    CA7RIEL and Paco Amoroso are one of the most unique acts in music right now

    Styles will be in six cities on the North American leg of the global stadium tour before heading to Europe. CA7RIEL & Paco Amoroso will be joining them on April 9 and April 10 for their shows in Dallas, Texas, at AT&T Stadium. 

    Harry Styles is hitting the road with the help of some friends© Getty
    Harry Styles is hitting the road with the help of some friends
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    Who are CA7RIEL & Paco Amoroso?

    The duo met in first grade after sitting next to eachother by chance © Redferns
    The duo met in first grade after sitting next to eachother by chance

    The duo, often mistaken for brothers due to their shared surname, consists of Catriel Guerreiro (aka Ca7riel) and Ulises Guerriero (aka Paco Amoroso). They met way back in primary school when they were six.

    Catriel said in an interview with Arte that they sat next to each other. “It was first grade. Just one of those f***ing coincidences in life; we ended up sitting next to each other,” he explained.

    Since the beginning, people thought they were siblings, and they started trolling together immediately. “The teacher was taking attendance and said, ‘Okay, Ulises Guerriero?’ He raised his hand. ‘Catriel Guerreiro.’ I raised my hand. “Oh, are you brothers?” she asked. And we said yes,” he said.

    CA7RIEL & Paco Amoroso performs on stage at Movistar Arena on May 28, 2025 in Madrid, Spain© Getty
    CA7RIEL & Paco Amoroso performs on stage at Movistar Arena on May 28, 2025 in Madrid, Spain

    They sat in music workshops together, one strumming guitar, the other violin, eventually forming a rock band called Astor y las Flores de Marte in 2010. They officially became a duo in 2018, shifting into the experimental-trap/funk/hip-hop/pop world, and are among the first wave of Urban musicians in Argentina. 

    Now, they’ve practically become blood. “We’re not brothers, but we’re basically brothers,” Catriel told Arte. 

    They dropped their debut studio album, Baño María, in April 2024. But everything changed when they lit up the international scene with their viral Tiny Desk session, released on October 4, 2024, which has garnered over 55 million views at the time of this publication. 

    Riding the wave of success, they went on tour, opened for Kendrick Lamar, and have played at the world’s biggest music festivals, venues, and stadiums.

    LAS VEGAS, NEVADA - NOVEMBER 13: EDITORIAL USE ONLY. (L-R) Ca7riel and Paco Amoroso pose in the press room with the Best Pop Song for "El Día del Amigo", Best Alternative Song for "#Tetas", Best Alternative Music Album for "Papota", Best Short-Form Music Video for "#Tetas" and Best Long-Form Music Video for "Papota" during The 26th Annual Latin GRAMMY Awards at MGM Grand Garden Arena on November 13, 2025 in Las Vegas, Nevada. (Photo by Arturo Holmes/Getty Images)
    The artists won 5 Latin GRAMMYS

    In 2025, they were the stars of the show at the Latin GRAMMYS. Tied with Mexican legend Edgar Barrera for the second most nominations after Bad Bunny, they won 5 awards at the Latin GRAMMY Premiere Ceremony:  Best Alternative Song, Best Long Form Music Video, Best Alternative Music Album, Best Short Form Music Video, and Best Pop Song. They also made out.  

    Paco Amoroso and CA7RIEL© Getty
    They won their first GRAMMY in February

    Then, they won their first Grammy Award for Best Latin Rock or Alternative Album for their EP PAPOTA at the 68th Grammy Awards on February 1, 2026.

  • Is Clarity dead? A vibes-based analysis: State of Crypto

    Is Clarity dead? A vibes-based analysis: State of Crypto

    And the vibes aren’t great. A new text came out last week with changes sought by Democrats. But the key issue — ethics — remains in limbo. The cloture vote will take place seven weeks before the midterm election. As this newsletter has noted before, the issues remaining seem resolvable. The real key issue is politics, as has been the case for much of this summer. The closer lawmakers get to this election, the less likely they are to play nicely on this type of issue.

    According to industry participants this past week, the rough consensus is that anything can happen, really. There should be a vote on Tuesday, but it may get pushed if there’s a last-minute breakthrough in negotiations. There are, as of Friday afternoon, not 60 votes for the bill but negotiations are expected to stretch through the weekend and that may change.

    But overall, industry participants seem pessimistic that the bill will advance.

    The newer, growing narrative is that the Securities and Exchange Commission and Commodity Futures Trading Commission can fill some of the regulatory gaps with rulemaking. But this too, may be fraught with risk.

    The key issue is that interest groups will almost certainly sue the agencies, regardless of what they do, and that litigation can stretch out any rulemaking process out for months. The litigation doesn’t even need to be successful — it just needs to drag out through Jan. 20, 2029, when the next president will be inaugurated.

  • Bloomberg Legend Mike McGlone Issues a Warning About Bitcoin—He Reveals the Condition That Will Save BTC

    Bloomberg Legend Mike McGlone Issues a Warning About Bitcoin—He Reveals the Condition That Will Save BTC

    Bloomberg Intelligence senior commodities strategist Mike McGlone said that high equity valuations and expectations that the Fed may raise interest rates again are creating strong sell signals for Bitcoin ($BTC).

    McGlone noted that Bitcoin’s performance over the past five years has been roughly on par with the S&P 500 index, but $BTC has experienced approximately three times higher volatility.

    McGlone described Bitcoin as an extremely volatile and speculative digital asset, noting that $BTC exhibits a high correlation with the stock market and has to compete with millions of other crypto assets. He argued that, from a risk and portfolio management perspective, Bitcoin presents a negative picture because it offers similar returns to the S&P 500 while carrying approximately three times the volatility.

    According to McGlone, Bitcoin, which emerged after the 2009 global financial crisis, could lead the market during a potential downturn, just as it did during the rise in risky assets. The analyst pointed to three key factors that increase the downside risks for Bitcoin: $BTC encountering resistance around $80,000 during its recent rise, the pricing in of approximately 70 basis points of Fed interest rate hikes over the next year in futures markets, and the S&P 500 index being at significantly higher levels compared to its 200-week moving average.

    McGlone noted that Bitcoin tends to move strongly with the S&P 500, especially during periods of decreased market risk appetite, and therefore considers $BTC a high-beta asset that follows the stock market.

    McGlone also raised a rather sharp long-term bearish scenario. According to the analyst, Bitcoin could move towards the $10,000 level, which has acted as a critical zone many times in the past. One of the key factors that could trigger such a scenario is a sustained decline of approximately 20% in the S&P 500.

    However, McGlone added that for this negative scenario to become invalid, Bitcoin needs to decouple from the stock market and consistently demonstrate strong performance. According to the analyst, $BTC’s ability to maintain its strength, especially in the face of a potential decline in the S&P 500, could support the thesis that Bitcoin is no longer just a high-beta risk asset.

    *This is not investment advice.

  • Watch Out: We’re Entering a Critical Week – Lots of Economic Developments and Altcoin Events Are Coming Up – Here’s the Day-by-Day, Hour-by-Hour Schedule

    Watch Out: We’re Entering a Critical Week – Lots of Economic Developments and Altcoin Events Are Coming Up – Here’s the Day-by-Day, Hour-by-Hour Schedule

    The cryptocurrency market closed last week in the red due to the increased likelihood of a Fed interest rate hike following hawkish economic data from the US.

    After a week in which Bitcoin’s price dropped by over 3% and altcoins suffered similar losses, there are some important developments to watch in the new week.

    Here is the cryptocurrency calendar we have specially prepared for you at Bitcoinsistemi.com.

    (All times are given in UTC+3 Turkish time)

    Monday, September 14

    Ubpit will delist the STORJ and JASMY tokens.

    Spark is discontinuing its SparkLend lending protocol on the Gnosis Chain.

    The Standard Reserve, an on-chain reserve protocol, is being launched.

    Tuesday, September 15

    GHST – DAO onchain voting is starting.

    Voting on the Clarity Act begins in the US.

    Solana is rolling out Transaction V1 on its mainnet-bet network.

    Withdrawal deadline for the DeFi yield protocol Pyra.

    Wednesday, September 16

    European Blockchain Convention

    The ARC mainnet will be launched.

    VET – Interstellar will receive a mega update.

    The SEC and CFTC will release new rules.

    The Standing Committee on Finance of the Indian Parliament is holding an important session on the regulation of virtual digital assets.

    21:00 – The Fed will announce its interest rate decision.

    21:30 – FED Chairman Kevin Warsh will hold a press conference.

    Thursday, September 17

    15:30 – US Initial Jobless Claims (Expected: 209k, Previous: 206k)

    Friday, September 18

    06:00 – The Bank of Japan will announce its interest rate decision. The expectation is for a 25 basis point increase.

    *This is not investment advice.

  • FCC Chairman Brendan Carr Accuses James Talarico Of Running A “Hoax” With Jimmy Kimmel Sit-Down; YouTube Interview Nears 7 Million Views

    FCC Chairman Brendan Carr Accuses James Talarico Of Running A “Hoax” With Jimmy Kimmel Sit-Down; YouTube Interview Nears 7 Million Views

    As Jimmy Kimmel‘s interview with James Talarico nears 7 million views on YouTube, FCC chairman Brendan Carr weighed in on Saturday evening, accusing the Texas U.S. Senate candidate of orchestrating a “hoax” to drive up “clicks and donations.”

    Earlier this week, Kimmel told viewers that he would be sitting down with an interview with Talarico for his ABC late-night show, but that it would be posted to YouTube and not broadcast because of the FCC’s crackdown on its equal time rule.

    In a post on X, Carr accused Talarico of “just running the same hoax he did a few months ago on Colbert for the purpose of getting clicks and donations — he’s banking on people not understanding the statute or operating as partisan lemmings.”

    He also posted a meme of Talarico riding on a bicycle on Kimmel’s back before Kimmel puts a stick in the spokes and it crashes to the ground.

    A Talarico campaign spokesperson did not immediately respond to a request for comment. The Kimmel interview had drawn 6.8 million views as of Saturday evening.

    In February, Stephen Colbert posted an interview with Talarico to YouTube, telling viewers that he was warned by network executives about featuring the candidate on the broadcast. That interview generated 9.6 million views on YouTube. Like the Kimmel interview, the YouTube views were well over the average audience for the actual late-night broadcast.

    In an interview this week, Talarico characterized the Kimmel incident as government censorship and a form of “cancel culture.” He also posted the interview to X, calling it “the interview Trump’s FCC doesn’t want you to see.”

    For decades, daytime and late-night TV talk shows have operated on the assumption that they were exempt from the FCC’s equal time rule, which requires broadcasters who feature candidates to provide comparable time to their rivals, if it is requested. News coverage and news interviews have been exempt from the requirements, and the rule also does not apply cable or streaming, where the FCC’s authority is limited.

    But in January, the FCC under Carr, appointed by Donald Trump, issued guidance to broadcasters that TV talk shows actually may not be exempt, a move that critics saw as a regulatory effort to crack down on daytime and late-night hosts the president does not like. Within weeks, the agency launched an investigation of ABC’s The View after it featured Talarico as a guest.

    Until now, Carr had yet to weigh in on Kimmel’s latest criticisms and the decision to move the interview to YouTube. The late night host called the FCC’s equal time enforcement threats an effort to “make our editorial decisions for us, which of course we cannot accept.”

    On Thursday, a White House spokesperson said that Kimmel was “play acting” to “create a false narrative,” and that Carr “has not threatened him regarding interviewing James Talarico, or any other candidate.”

    Carr has denied that the FCC’s stricter enforcement of the equal time rule was an attempt to censor guests.

    On X, Carr posted, “The Equal Time statute does not prohibit anyone from interviewing anyone on broadcast tv. It is about more speech, not less. Congress wanted to ensure that voters would decide elections, not media gatekeepers picking winners and losers by providing preferential airtime to some candidates and not others. Indeed, when the statute applies, it simply requires broadcast stations to offer comparable time and placement. And comparable does not necessarily mean an interview by the same person on the same program either.”

    Carr’s comments were in response to a post from University of Texas Democrats, who noted the appearance of Sen. Ted Cruz (R-TX) on ESPN’s College GameDay on Saturday. The group posted on X, “So I can’t watch Talarico on Kimmel but I have to watch Ted Cruz on GameDay?”

    The FCC chairman noted that the equal time rule would not apply to Cruz’s appearance because it was on a cable network and because the regulation covers only legal qualified candidates, or contenders who are in the midst of an election campaign. Cruz is not up for reelection this year; Talarico’s Republican rival is Ken Paxton.

    ABC is challenging the FCC’s enforcement of the rule when it comes to The View, pointing out that the agency affirmed its exemption from the regulation in a 2002 letter.

    The network also has sued the FCC on First Amendment grounds. It claims that the agency’s order that its eight owned stations submit to early license renewals is a form of regulatory retaliation, due to the Trump administration’s dislike of its news coverage and other content including The View and Kimmel.

    In his post, Carr again defended the FCC’s regulatory efforts as within the bounds of the agency’s authority.

    He wrote, “In exchange for that free and exclusive right to use spectrum, broadcasters made a deal with the American people. They agreed to operate, not in their own narrow interests, but in the public interest. There are various rules and policies that they must follow. This sets them apart from newspapers and cable shows and podcasts. But some broadcasters want to break their deal with the American people. They want to keep their free access to billions of dollars worth of spectrum, of course. They are less eager these days to abide by their public interest obligations.”

    ABC’s legal team has argued that the FCC is engaging in selective enforcement, as its January guidance did not target conservative talk radio, and wrote that the equal time rule is unworkable for shows like The View as it puts network stations on the hook for time to potentially dozens of candidates on the ballot. Kimmel said this week that he would love to interview Paxton, but “our affiliates in Texas would have to give equal time to as many candidates as there are on the ballot. There’s about 10 candidates on the ballot.”