Listen to Mike Johnson say how Republicans must CUT ENTITLEMENTS >Medicare! Social Security, Medicaid!(Johnson doesn’t Understand we have paid into Social Security in our paychecks, since our 1st job . It is not a federal benefit. They have a PL AN.

*DTCC* Tokenization Service is now live… Enables minting of tokenized representations of real-world assets held at DTC. Tokenized securities retain same ownership rights, investor protections & economic entitlements as traditional shares. Next step toward full securities tokenization, which will happen much faster than people think IMO.

PEZIZKIAN ON THE DETAILS OF THE IRANIAN DELEGATION'S MEETING WITH KUSHNER AND WHITTAKER: WHAT WE ARE DISCUSSING IS THE FRAMEWORK OF INTERNATIONAL LAW AND THE RIGHTS AND ENTITLEMENTS THAT WE SHOULD HAVE. WE HAVE NOT ASKED FOR ANYTHING OTHER THAN OUR RIGHTS AND ENTITLEMENTS WITHIN THE FRAMEWORK OF INTERNATIONAL LAW AND WE WILL NOT ASK FOR ANYTHING. AS A RESULT, WE ARE REACHING AN UNDERSTANDING ON THIS BASIS, IF THE OTHER SIDE ACCEPTS. - ISNA

All-In Summit: Vice President JD Vance 🔥 -- Assessing the Admin So Far -- AI Approach, Dealing with Doomerism -- Going After H-1B Abuse -- Anti-Fraud Plan, Why Entitlements Fraud is Hard to Stop -- Relationship with Israel, Rational Foreign Policy -- Midterms Message (0:00) VP JD Vance joins The Besties! (1:40) Assessing the Trump Admin so far: Border control, re-industrialization, inflation, Iran, government debt, anti-fraud (9:28) AI approach: Dealing with Doomerism, "Frankenstein," and AI negativity (16:23) H-1B abuse and the massive $1T+ of fraud in federal spending (21:48) Relationship with Israel, rational foreign policy (25:19) JD Vance's midterms message

Plain speak guide for when to get (nominally) bullish on LT USTs: Are higher rates & therefore higher interest expense leading to sharp cuts in Entitlements & Defense spending? If yes, bonds are a buy. If no, bonds are a sell. 1 of these 3 are a bubble: Bonds, USD, or Boomers

That DOGE would fail was obvious to anyone who understood that the US was spending ~120% of near-record Federal receipts just on Interest, Entitlements, & Defense. It should be equally obvious that this math also makes it mathematically impossible for Warsh to be hawkish.

DAILY GAI DATA CENTER DEVELOPMENT DIGEST LEAD ITEMS • Microsoft Project Kilby Data Center Campus (Pecos), Texas (2,000 MW): Chevron said on 2026-10-30 that its West Texas power project for Kilby stays on schedule for first power in 2028 despite the Texas data center permit pause. No slip. NEW LAUNCHES • TerraVolt Holdings Cassia County Campus, Declo, Idaho, event 2026-10-30, confirmed, verified. TerraVolt executed option agreements to purchase 1,077 acres in Cassia County and intends a master-planned behind-the-meter campus designed to support an initial 240 MW of dedicated on-site gas generation (generation figure as published, not stated as IT load), supported by a firm gas supply agreement of 55,000 MMBtu per day. After entitlements it plans to sell shovel-ready sites to operators. • Union County Campus, El Dorado, Arkansas, event 2026-10-30, confirmed, verified. Z Squared began site planning and preliminary engineering at its energized campus (about 8 MW of utility power available today), targeting up to approximately 150 MW of AI-ready capacity over time. That 150 MW is a development target, not contracted or delivered capacity; no tenant or lease exists yet. The campus came with the Paradox Data acquisition that closed September 8, 2026. • Hyundai Motor Group Saemangeum AI Data Center, Saemangeum (Gunsan), South Korea, event 2026-10-30, corroborated, candidate. The five group affiliates finalized their investment decision for the hyperscale campus first announced in February 2026: two SPCs launch in November, construction starts March 2027, service opens early 2030, up to 50,000 GPUs planned. Data center MW was not published in any source found, so capacity is UNKNOWN. • AFRIDATA Nigeria, Lagos and Delta State, Nigeria, event 2026-10-28, late-surfacing, corroborated, candidate. USTDA signed a $1.87 million feasibility grant formally launching AFRIDATA Nigeria: two proposed AI-ready facilities, 60 to 70 MW initially, expandable to 100 MW, construction targeted for Q2 to Q3 2027 after financial close. The grant funds a study, not construction. PROJECT EVOLUTIONS • Microsoft Project Kilby Data Center Campus (Pecos), Texas, event 2026-10-30, corroborated, candidate. Chevron CFO Eimear Bonner said permitting, engineering, and financing work continues and nothing seen so far impacts first power in 2028, ramping by 2031, despite Governor Abbott's suspension of Texas digital infrastructure permits. The schedule on file is reaffirmed; there is no slip. Confirmed in two independent non-X reports. • L and T Vyoma Chennai AI Factory Campus, India, event 2026-10-28, late-surfacing, corroborated, verified. Groundbreaking of a new 52 MW AI-ready facility inside the tracked campus, which already carries an operational 30 MW facility and a 250 MW Phase 1 expansion under construction. A new facility start, not a re-rating and not a slip; no census field changes. • Google Hamina Data Center Campus, Finland, event September 2026 (exact day not published), late-surfacing, single-source, candidate. Google bought about 56 hectares next to its existing Hamina campus for potential expansion, for EUR 10.7 million. No MW, phase, or timetable published. • Pre-leasing: zero-yield for new signings dated 2026-10-30. A checked result, not a claim that no lease was signed anywhere. REGULATORY RESTRICTIONS • Van Buren Township, Michigan (Google / DTE), event 2026-10-30, confirmed, verified. Attorney General Dana Nessel filed a petition for rehearing in MPSC case U-22058 against the approval of DTE's special contracts for a Google hyperscale campus, arguing the 20-year aggregation approach accepts other customers subsidizing the data center at least for 2035 to 2038, and that the collateral cap on Google and Alphabet liability should be rejected. She asks the Commission to adopt her recommendations or reject the contracts outright. The filing, case, and terms are confirmed on the release itself. • Mesa County, Colorado, event 2026-09-29, late-surfacing (county announcement published 2026-10-30), confirmed, verified. Commissioners voted unanimously for a 12-month moratorium pausing data center land use applications in unincorporated areas while the Land Development Code is updated. The county states it has no pending data center applications. • Florida (statewide), event 2026-10-30, unverified lead, candidate. An X cluster attributes to Fox News a campaign pledge by gubernatorial candidate David Jolly of a hyperscale moratorium on his first day in office. No non-X source was retrieved tonight, and a pledge is not a rule in force. A lead only. COMMUNITY ISSUES • Holt, Delhi Township, Michigan, event 2026-10-30, corroborated, outcome check on 2026-10-31. Hours before the 5:30 PM ET special meeting, Lighthouse Sustainability CEO Gary Dorris asked the Board to delay the resolution opposing any data center development and to pursue an ordinance instead. The resolution on the agenda voices official opposition and calls on LEAP and Lighthouse to cease all efforts on the 700 MW Holt proposal. The vote outcome is NOT FOUND IN PUBLIC RECORDS tonight; it is carried for tomorrow's check, not reported either way. • Gainesville, Prince William County, Virginia, event 2026-10-29, late-surfacing, single-source, candidate. Residents and grassroots groups launched a petition for a 12-month pause on new data center applications requiring a Board of Supervisors vote, plus support for a statewide moratorium. There is no indication the Board or Planning Commission has taken the petition up. PERMITTING ISSUES • Hermantown, Minnesota (Google), event 2026-10-30, corroborated as scheduled, outcome check on 2026-10-31. The rescheduled City Council meeting (6:30 PM CT, six resolutions including the special use permit and development agreement, attendance limited to the first 85 people after the protests that interrupted the earlier vote) was set for tonight, but no approval, denial, postponement, or vote count had been published in the records searched. Outcome NOT FOUND IN PUBLIC RECORDS; the outcome check carries to 2026-10-31. FINANCING ITEMS • Hut 8 River Bend Campus, Louisiana, event 2026-10-30, single-source, candidate. First public cost stack reported for the tracked campus: parish payments of $90 million a year against about $120 million otherwise owed, and $3.25 billion of senior secured notes sold in April financing the build; the first hall is still targeted for Q2 2027, so no slip against the date on file. The item is recorded as a finding only, and its figures rest on one secondary analysis whose underlying parish and filing records were not opened tonight. • Amazon (operator level), event 2026-10-30, unverified lead, candidate. A single X post attributes to Quartz reporting on a quarterly filing a secured loan facility of up to about $80 billion for AI and data center hardware. No non-X source for the figure was retrieved tonight and no campus is named. A lead only.

How Crypto Compliance Needs to Evolve to Deal With RWAs and Tokenization. With @SavinoVaness , Chief Legal Officer at @tZERO , sharing insights on how tokenization is shifting from early experiments with illiquid assets toward highly liquid instruments like treasuries and equities. In this episode, we discuss: - How has tZERO shifted its core business model to provide end-to-end "infrastructure as a service" for tokenized securities? - Why did early tokenization efforts fail to make illiquid assets like real estate liquid, and how did treasuries become the true "killer app"? - What are the key structural differences between native on-chain tokens, security entitlements, and synthetic wrappers? - How are updated SEC guidance and single-license regulatory permissions shaping institutional adoption and compliance? - How is tZERO expanding beyond securities into CFTC-regulated derivatives, event contracts, and global partnerships? The full interview is available on my YouTube and podcast platforms: Spotify: Apple: Youtube:

Speaker alert: 🇮🇳 Abhineet Nayyar x @ITforChange joins Cypherpunk Congress lineup with the take on AI regulation. Abhineet holds Senior Associate, Research and Policy Engagement position. An engineer by education, he focuses on surveillance, antitrust law, AI supply chains, and labour exploitation in the digital economy. IT for Change (@ITforChange) is a Bengaluru-based nonprofit advancing digital justice from a Global South perspective. Its impact: • 15,000+ people reached through community information centres across 60 villages • 1,500+ welfare claims processed, helping people access public entitlements • 25+ young women mentored as community media champions • Contributed to drafting provisions on algorithmic transparency in Karnataka’s proposed gig-worker legislation • Helped bring data justice and equitable digital governance into global policy debates. From grassroots empowerment to challenging Big Tech power, IT for Change puts democracy, equality and people’s rights at the heart of technology. Cypherpunk Congress, 2 nov, Mumbai:

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