WATCH: This isn't what tourists expect to see on the Las Vegas Strip. Floodwaters rush through nearby streets as the remnants of Tropical Storm Rachel unleash nearly 3 inches of rain, overwhelming storm channels and forcing road closures near major hotels. Crews have since reopened the roads, but muddy debris and damaged fencing show just how intense the overnight flooding became.

Update on the A64 closure 👇 Sadly a man has died following a collision which occurred on the A64 near Crambeck in the early hours of this morning. The road remains closed and is expected to be until rush hour. See our statement here

Hot take: Tesla's slower than expected Robotaxi rollout really doesn't matter at all for competitive positioning Recent reporting shows Waymo's Ojai vehicle, after accounting for import tariffs and sensor suite installation, is still ~$100,000 per vehicle before it's ready for operations An Ojai was just involved in a collision and the Waymo service still has just as many if not more quirks per mile than Tesla's Robotaxi service The Cybercab should land ~$25k before its ready for road operations. On cost alone, Tesla is WAY ahead of Waymo and it's not close and Waymo seemingly has no viable path to meaningfully close that gap anytime soon Tesla's autonomous software is also operating in 13 countries globally. Waymo is operating (including testing) in 3. Excluding China, Tesla's ability to gather robust data globally will further strengthen the V15 model in the US Waymo is not running away with scale and still has a very long, uncertain road to profitability. Tesla knows it does not need to rush anything at this stage. No one, including Waymo, is really a threat to Tesla dominating the autonomous ridehail market Tesla remains in the dominant position with its cost structure, global operations, vertical integration and manufacturing footprint. Rushing things now would be foolish $TSLA

BREAKING: Gulf nations have issued $112 billion in bonds year-to-date, the highest amount on record for this point of the year. Bond sales have more than tripled since 2022. This comes as Saudi Arabia, Kuwait, the UAE, and Qatar seek financing for infrastructure that bypasses the Strait of Hormuz. This includes new ports on the Red Sea and the Gulf of Oman, repairing older oil and gas pipelines, and improving road networks across these countries. Kuwait alone raised $6.0 billion last week, with investor orders reaching $14.8 billion, more than double the amount issued, highlighting resilient demand for the debt of Gulf nations. Gulf nations are borrowing at a record pace as they rush to reshape their infrastructure.

Today I call upon the blockchain industry to calmly begin planning for "bunker mode". My personal recommendation is to set in motion a controlled mass migration of assets to fresh addresses, i.e. addresses whose pubkeys remain hidden behind a hash. Holders, starting with large and sophisticated ones, should consider moving the bulk of their funds to addresses that have never signed a transaction. And when they do sign one, they should also move remaining funds to a new address (possibly generated from the same seed phrase). Don't rush. While I believe there is cause for action a rushed migration would do more harm than good. Don't panic either. Moving assets to protected addresses is a simple, preventative step which does not require new cryptography or new wallets. IMO it is now reasonable to brace for the possibility that ECDSA breaks before qday, in the worst case in months not years. By "break" I mean fast private key recovery (e.g. in one week) on available hardware (e.g. a large GPU cluster). Recent days have been humbling for human mathematical intuition. Long-held, unquestioned hypotheses have fallen. This includes the n log(n) bound for integer multiplication and the 3SUM conjecture. In hindsight, May's unexpected disproof of the Erdős unit distance conjecture was our warning shot. Yesterday's OpenAI drop made it clear that mathematical superintelligence is upon us. They say there are weeks where decades happen. We are about to live through weeks where centuries of mathematical progress happen. Could our magic 64-byte ECDSA signatures be too good to be true? Was it just security through obscurity all this time? Elliptic curves feel especially vulnerable to superintelligence. Curves carry rich structure, with room for fancy tricks like Schoof, Frobenius, pairings. (By contrast, hashes are designed to minimise algebraic structure.) Separately, as Ewin Tang can attest, an efficient quantum algorithm sometimes foreshadows an efficient classical one. We should be open to the possibility of a classical counterpart to Shor that breaks elliptic curves and RSA at once. Also noteworthy is the striking under-representation of cryptographic breakthroughs among the 722 mathematical results OpenAI published. I've witnessed first-hand the US government censoring academic quantum cryptanalysis results. Backroom interventionism is my base case. I urge large, sophisticated actors to lead by example. Project11's "risq list" (bitcoin-risq-list.projecteleven[.]com) is a great tracker of exposed BTC pubkeys. Binance, Bitbank, Robinhood, Bitfinex, and Tether have an opportunity to harden their cold storage. Next month I'll address institutions in London in a live Q&A (forum.ethereuminstitutional[.]org/london-2026). Again, please do not rush. Wallets holding under 50 BTC enjoy partial cover from "Satoshi's shield", i.e. his 20K exposed addresses that hold 50 BTC each. Load-bearing signers like oracles and L2 security councils should consider rotating ECDSA pubkeys with every signed message and/or multi-signing with a hash-based schemes like SPHINCS. Exiting bunker mode safely will require post-AI cryptography. My inclination is to go all-in on hash-based cryptography and avoid structured mathematical assumptions entirely, whether from curves, lattices, or isogenies. A single battle-tested hash (e.g. from the SHA or BLAKE families) yields plausible post-AI security. The Ethereum roadmap on strawmap[.]org fully embraces hash-based cryptography with end-to-end formal verification as a response to the quantum threat. Those timelines must now be revisited and accelerated in light of mathematical superintelligence. I'll be pushing for maximum defensive acceleration.