October 2026 is shaping up as one of the roughest months for cybersecurity in recent memory, and it isn’t even over yet.
Malicious packages. Stolen API keys. Backdoored updates. Cloud breaches. Critical RCEs. Compromised certificate authorities. AI knows how to crack it all.
While engineers were battling AI to prevent the entire internet from being hacked, bulls were fighting bears on the Bitcoin chart, with $80,000 acting as the line in the sand. More on this in the next section.
As for our precious onchain bags, the market remains rotational, with coins sporadically pumping and dumping, rewarding quick scalps rather than long-term conviction holds.
However, if you believe better days are coming, teams that keep building through this price action are worth keeping on the radar.
Speaking of building, last week we released a series of pivotal updates that many of you have been asking for.
By launching our own cross-chain router, we now have control over every part of the trading stack: pricing, indexing, bridging, and routing, which means that trades on fomo are now faster and cheaper than ever before.
We also launched perps on web with cross-margin, allowing your perp positions to share a single pool of collateral if you so choose, along with other quality-of-life improvements, such as showing a token’s tax when purchasing, automatic thesis translations, cleaner charts, and more!
The market charges tuition, and it isn’t cheap. Every lesson comes with a price tag paid in losses. The in the trenches weekly podcast offers a stipend, letting you learn from people who've already paid it.
The most anticipated IPO of this year is drawing closer as Anthropic, the AI company behind the Opus, Fable and Sonnet models, has filed an S-1 registration statement with the SEC related to its proposed IPO.
The best part? You can already trade the pre-IPO instrument right here on fomo.
The statement runs for pages, covering the company’s vision, business prospects, risk factors, governance, and all kinds of corporate jargon. Here’s what stands out.
The pitch is that knowledge work is a $40 trillion pool of global value, and that Claude agents running for hours or days on their own will capture a slice of it.
Beyond that, the plan is more compute, its own data centers, and a push into robotics and drug discovery.
A large chunk of the document also discusses warnings of AI's "catastrophic existential risks to humanity," which is arguably already playing out with all the recent cyber attacks.
So what’s the situation now?
Anthropic posted H1 2026 revenue of $16.3 billion with a net loss of $80.7 billion, while Reuters reported about $518 billion in compute commitments, roughly 80% of which Anthropic cannot cancel or must pay for regardless of usage.
Disclaimer: Perps are not available in the U.S. or to U.S. persons.
Typically, we dedicate this part of the newsletter to real-world assets like stocks, indices, commodities, or pre-IPO companies, but this week we’ll talk about two heavyweights going at it over the aforementioned line in the sand for BTC.
With an average entry of $80,201, @lionofg0d holds a 40x long position betting that the support will hold and we’ll bounce from here.
On the other side, @frankdegods holds a 15x short position betting on the continuation of a downtrend.
While frankdegods is currently chilling with an unrealized profit of +$334,974, lionofg0d is most certainly sweating, with his position near the liquidation price at just under $79,000, unless he adds more margin, of course.
But with the month ending in just a few days and several events ahead, starting with the FOMC meeting on October 28, expect volatility as either camp (bulls or bears) tries to establish dominance.
Disclaimer: Perps not available in the U.S. or to U.S. persons.
Which camp are you in?
While the trenches remain a dry desert, people have quietly been making money on perps by shorting the markets.
Here are some of those wins, in no particular order.
@RuneCrypto_ has capitalized on growing concerns about AI valuations (a topic we discussed in our previous edition) by making a bold move: opening a 10x short position on the world’s most valuable company, NVDA.
He’s currently sitting on a nice profit of nearly $8,000.
With an average entry at $120, on October 6 @Arthrodir opened a 3x short position in SOL and has kept it open ever since. He’s currently sitting on +$36,364 in profits.
Commodities are on the board too. On October 24, @clickl3ss opened a 20x short position on WTIOIL and is currently sitting on nearly $3,000 in profit in just two days.
Naturally, the top trade ranks will flip around as the week progresses. If you wish to stay on track, download fomo and keep your eyes peeled 👀
It’s hard to find explosive price action without looking at new pairs. Nonetheless, it’s still possible to find some positive action in an otherwise brutal market.
ORBIO
Last week, ORBIO, a coin with an ATH of nearly $120 million in market cap, fell to as low as $16 million, a loss of ~80%.
Quite a few spotted the opportunity and bought in at the bottom. Others quickly followed suit, tripling the coin’s market cap in two days and pushing it to a local peak of $50 million.
STONK
While most coins continue their free-fall with no bottom in sight, a few, including STONK, appear to have formed a bottom and are even making higher highs and higher lows.
With the market cap falling to as low as $70 million on October 18, the coin has since recovered and is fighting to reach the $100 million market cap barrier.
UNI
A key benefit of holding larger-cap coins is that you still get much better returns than practically anything in the stock market (if timed right), with limited downside compared to 99% of memecoins.
With much of the conversation over the past few months revolving around Uniswap’s V4 hooks, UNI quietly pulled a 4x move from the lows in June.
It’s now consolidating around the $7 mark after a 30% correction, which is peanuts compared with how the average memecoin has fared.
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Until next week!
