OpenAI’s Codex, Anthropic’s Claude Code, GitHub Copilot, and Cognition’s Devin are all competing for attention from developers. Robinhood’s venture arm now has money riding on two of the companies behind them.

Robinhood Ventures has cut Cognition a check for $10 million, the company exclusively told Fortune, which follows a $75 million investment in OpenAI back in April.

Sarah Pinto, head of Robinhood Ventures, has no issue with backing rivals. “It’s not a winner-take-all market,” she said. Robinhood’s own engineers use multiple AI coding tools, she noted, adding that within its consumer business, Robinhood lets customers choose between different AI models to run its trading agents.

The Cognition investment was part of the startup’s Series E funding round in September, which raised more than $2 billion at a $48 billion valuation. Robinhood is disclosing its participation for the first time, joining high-profile backers including Andreessen Horowitz, Accel, and Founders Fund. Cognition said in September that its annualized revenue run rate had reached almost $900 million, up from $492 million in May. 

Read more [paywall removed for Redditors]: https://fortune.com/2026/10/23/exclusive-robinhood-bets-10-million-ai-coding-tool-maker-cognition/?utm_source=reddit/

While incidents such as the hugging face incident are scary and OpenAI staff had no clue their own AI agents hacked into hugging face and were so oblivious that they emailed hugging face once a breach was announced and asked, "Are we at OpenAI affected by this hack?" the same day it was announced, AI isn't something you can just point at bitcoin and say, "Break it."

Once the ColdCard hack happened, a movement called "red-teaming bitcoin" got started. For those of you who don't know, red-teaming means basically "white hat hacking" with relevant stakeholders in the know. Anyone can view bitcoin's open source code on github and I have to ask the question, "Has no one already tried pointing to the github page and doing that already?"

Quantum computing's limitations extend to the fact that hardware used in quantum computing must be kept at extremely cold temperatures while performing quantum computations. And one quantum computer cannot just steal millions of wallet addresses' private keys all with the push of one button.

With all incentives in place, there are very real motivations to keep bitcoin protected from these things. I think the announcement of a bitcoin-protection grant from galaxy digital below speaks volumes to those motivations:

https://www.galaxy.com/newsroom/galaxy-launches-bitcoin-quantum-readiness-initiative

EDIT: The red-teaming bitcoin fund is an ongoing project as well find that below.
https://opensats.org/funds/red

 BYBIT RUINED MY BIRTHDAY: Froze $5,200 of my life savings over a $54 transfer and drains my account with fees!

UID: 578523636

I am writing this in complete emotional exhaustion. Bybit has destroyed my life.

For a long time, I was saving money to buy myself a gift for my birthday. I bought all my crypto exclusively via Bybit's P2P platform, trusting them completely. All my savings were kept there.

The trigger for this nightmare was ridiculous: I transferred just $54 of my own funds to an external wallet and sent part back. Their automated system flagged this. Instead of asking for documents, on October 15, they froze my ENTIRE account with ~$5,200.

It was my birthday. Instead of celebrating, I received a block. Because I held all my funds on Bybit, I was left with absolutely nothing to live on. No money for food, no money for rent, no gift for myself. I experienced deep psychological stress, which turned into severe, constant headaches. My only close person gave me a gift, but I felt completely empty and couldn't share the joy.

The unfairness doesn't stop there. They froze my account, so I couldn't close my open trading positions. I recently managed to close a position, but because I was locked out and couldn't manage my risks properly for 10 days, I had to close it at a $6 loss. Furthermore, I cannot withdraw my tokens from the Earn section or sell them. My deposit has dropped from $5,200 to $4,000. They held my money hostage and caused direct financial damage.

It has been exactly 10 days. Not a single human has contacted me. All their 3-5 day deadlines have passed. To this day, I am only getting replies from automated bots. They haven't requested a single document to prove my funds are clean.

Bybit, stop ignoring me and give me back my money.

Bitcoin is, first and foremost, a secure space to make financial relationships with other people. This video clip, is, in my opinion, the best expression of what blockchain and by extension, bitcoin really is. Although Lei Yang doesn't mention relationships, most of the code is about finance and financial relationships, and it gets across the point, which is that, at its core, cryptocurrency is about security. It's about providing a way to enforce relationships in a world where we cannot rely on governments or corporations to provide fair enforcement.

Bitcoin's security is provided by the miner reward, in the form of new Bitcoin. If the miner reward didn't exist, or more importantly, got low enough, attackers would be able to arbitrarily rewrite the ledger of Bitcoin transactions, by gaining control of the computing power used to validate blocks of transactions. Such an attack recently happened to Monero.

Bitcoin's predictable miner reward schedule also produces the bubbles which follow after a halving. Every time there is a cut in new Bitcoin supply, the reduction in new supply increases the price. However, each reduction in new supply is smaller relative to the amount of already existing supply in circulation. This creates an important collorary. It follows directly from halving theory that each bubble after the halving will me smaller on a relative basis than the previous bubble. From this observation, we can make long term predictions about Bitcoin's long term price.

Order of magnitude is a concept often found in science, where exponential functions are common. One order of magnitude is one zero behind a number, so 100 two orders of magnitude greater than 1. Each percentage increase in gains from the ATH of each halving bubble, is one order of magnitude less each cycle.

https://www.tradingview.com/x/DCWm7BWb/

Approximately speaking, whereas the first to second bubble was a x0,000% gain, the second to third was a x000% gain, the third to fourth was a x00% gain, and the fourth to fifth, was an x0% gain. It follows that the 5th to 6th bubble will be an x% gain.

This trend is even more apparent if we use the log scale fibbonacci levels to compare bitcoin cycles relative to the preceding cycle. Note, I do not actually believe fibbonacci levels have any special meaning. The important part is that they are relatively evenly spaced lines mapped onto a log scale chart. Any chart with log scale spacing should be able to show the same pattern.

Halving 1: https://www.tradingview.com/x/qJrWovpu/

Halving 2: https://www.tradingview.com/x/NO2JY7FZ/

Halving 3: https://www.tradingview.com/x/XvXogCuQ/

Halving 4: https://www.tradingview.com/x/Jl0RbEZe/

So what we can see from these halving charts is that bitcoin hits a lower rung each time on the log scale fibbonacci chart. So based on the trend, bitcoin will no longer see substantial gains from halving bubbles anymore.

Now, here's a trick. We can use the same logic and methodology to determine where the bottom of the next bitcoin cycle will be.

Each halving creates a permanent reduction in new bitcoin supply. This creates a new price floor, which increases each halving. But the rate it increases each halving should also decrease, because each permanent reduction is smaller relative to total existing supply.

So to determine where the bottom of the next bitcoin cycle will be based on the physical supply trend created by the halving, all we have to do is invert the chart, and use the log scale fibbonaccie, treating the bottoms as tops and tops as bottoms.

https://www.tradingview.com/x/itw63qRh/

https://www.tradingview.com/x/vb2fnlFV/

https://www.tradingview.com/x/1CSV8t5q/

https://www.tradingview.com/x/QoRTGxry/

As you can see from the above charts, Bitcoin hits a higher and higher rung on the fibbonacci ladder each cycle. And the next highest run is 34K. So it follows that the bottom of the next cycle should be somewhere between 35-40K.

Finally, the fact that bitcoin no longer increases each halving cycle suggests that bitcoin's will start to fail, on a protocol level, relatively soon. The block reward exists to prevent malicious entities from rewriting bitcoin's block history. If bitcoin's history could be rewritten, no one would use it. However, people clearly value a digital currency that isn't controlled by any single corporation or government. Bitcoin clearly shows that the asset class has value.

This suggests that at some point in the future, there will be an enormous financial opportunity. Bitcoin will be supplanted by another cryptocurrency meaning investors today have the opportunity to literally invest in the next Bitcoin, and get Bitcoin level gains.

I believe that Ethereum will be the cryptocurrency that will take Bitcoin's place in the global economy. Ethereum is the most secure, cryptocurrency outside of Bitcoin. It has enormous adoption from all sorts of entities and people around the world. It also has the most number of developers working on it, which is essential in this era of AI hacking and quantum computing.

It follows that as halvings reduce the mining supply which keeps Bitcoin secure, Ethereum will gain prominence. Because halvings no longer produce long term gains in bitcoin's price, this should start to happen within the next 2-3 halving cycles (hence, 10 years). Bitcoin attained a two trillion dollar market cap, and if Ethereum attains that market cap, that is 16K per Ethereum. I think Ethereum goes well beyond that price in the long term.