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Rivian CEO RJ Scaringe Defends LiDAR as Safer Bet for Self-Driving Cars, Breaking from Elon Musk’s Vision-Only Approach

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Rivian CEO RJ Scaringe has made it clear that the company’s approach to autonomous driving sharply differs from Tesla’s, emphasizing that LiDAR remains a critical and safer technology in building reliable self-driving systems.

Speaking on The Verge’s Decoder podcast, Scaringe said Rivian sees “real benefit” in using LiDAR as part of a multi-sensor setup that helps vehicles perceive their surroundings more accurately.

“Our view is that it’s definitely beneficial, and our approach to sensors has been that we need to rapidly build our foundation model as fast as possible,” he said.

He explained that Rivian’s autonomous driving vision relies on feeding as much sensory data as possible into its AI models.

“Now, what’s happened is that we no longer run the models like that. The models benefit from the maximum amount of information on the front of the model,” Scaringe said, noting that early models in the industry struggled to process inputs from multiple sensors.

Scaringe added that LiDAR’s dramatic drop in cost has made it more viable for commercial use. “The cost of LiDAR used to be tens of thousands of dollars. It’s now low — a couple of hundred bucks,” he said. “It’s a really great sensor that can do things that cameras can’t.”

Rivian’s stance stands in sharp contrast to Elon Musk’s long-held rejection of LiDAR technology, which the Tesla chief executive has called both redundant and inefficient. Musk has often mocked the use of LiDAR and radar, insisting that Tesla’s “vision-only” approach — which uses cameras and neural networks — is sufficient to achieve full autonomy.

In August, Musk reiterated this stance in a post on X, arguing that combining LiDAR and radar with cameras results in “sensor contention” and “increased, not decreased, risk.” He went as far as to claim that this complexity explains why Alphabet’s Waymo — which uses LiDAR, radar, and cameras — cannot handle open-highway driving.

At Tesla’s “Autonomy Day” in 2019, Musk was even more dismissive. “In cars, it’s friggin stupid. It’s expensive and unnecessary. Once you solve vision, it’s worthless,” he said.

However, growing incidents from real-world driving appear to favor Scaringe’s position. LiDAR-equipped systems used by automakers such as Rivian, Waymo, and Ford have recorded significantly fewer safety incidents compared to Tesla’s Full Self-Driving (FSD) vehicles, which depend solely on cameras.

According to recent safety data published by the U.S. National Highway Traffic Safety Administration (NHTSA), Tesla’s camera-powered FSD and Autopilot systems have been involved in multiple reported crashes, some fatal, often linked to system misidentification of obstacles, poor performance in low-light conditions, and driver overreliance. By contrast, companies using LiDAR and radar-assisted systems — including Rivian’s advanced driver-assistance suite — have not been associated with widespread safety investigations or fatal crashes.

Safety experts say the key advantage of LiDAR is its ability to measure depth and distance with high precision, even in poor lighting or weather conditions where camera systems can fail. LiDAR (Light Detection and Ranging) works by bouncing laser pulses off surrounding objects to create a detailed 3D map of the environment, allowing vehicles to “see” their surroundings independent of visible light.

Ford CEO Jim Farley has also described LiDAR as “mission critical” to achieving safe autonomous driving. At the Aspen Ideas Festival in June, he said LiDAR outperforms cameras in difficult driving scenarios, such as bright sunlight or fog.

“While the camera will be completely blinded by the sun, the LiDAR system will still be able to monitor its surroundings,” Farley said, noting that Ford’s driver-assistance technologies rely on multi-sensor redundancy for safety.

The growing divergence between automakers over the role of LiDAR points to a deeper philosophical divide in the race toward full autonomy. Tesla continues to push forward with its camera-only Full Self-Driving model, betting on neural network training to overcome sensory limitations. In contrast, Rivian, Ford, and Alphabet’s Waymo are leaning into multi-sensor designs that combine LiDAR, radar, and cameras — an approach researchers say offers more reliable and safer performance under varied driving conditions.

Scaringe’s remarks reaffirm Rivian’s commitment to building a safety-first autonomous platform powered by multiple perception technologies. The decision has been applauded by many as the company is steadily ramping up production of its R1T pickup, R1S SUV, and electric delivery vans.

Moniepoint Clarifies Reports of “Heavy Losses in The UK, Says It’s an Early-Stage Investment Phase

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Moniepoint, Africa’s all-in-one financial ecosystem, has addressed recent media reports that its UK subsidiary, Moniepoint GB, incurred a loss of $1.2 million in its first year of operation.

In a statement shared with Technext, the fintech unicorn clarified that what has been described as a loss, is in reality part of the early-stage “investment phase” typical of fintech firms expanding into new regulated markets.

“Moniepoint Inc. can confirm that Moniepoint GB’s financial results for the period February to December 2024 reflect the expected early-stage investment phase common across financial services firms entering new regulated markets,” part of the statement reads.

The company emphasized that its UK subsidiary is focused on serving African diaspora and advancing its goal of bringing financial happiness to a new market, an effort that naturally demands significantly upfront investment in compliance, infrastructure and human resources.

The clarification comes amid reports claiming that Moniepoint incurred heavy losses after acquiring Bancom Europe to secure its UK licence, sparking discussions about the company’s expansion strategy and inherent risks of operating in regulated financial environments.

In essence, Moniepoint’s UK “losses” aren’t anomalies but textbook examples of the fintech expansion playbook. They validate the high-stakes reality of fintechs entering regulated territories like the UK. In the broader context of fintechs venturing into new territories, the substantial upfront costs for licensing, regulatory compliance, infrastructure, and market entry often manifest as reported “losses” during the initial phases.

These are not necessarily indicators of failure but rather deliberate investments to lay the groundwork for long-term profitability. Moniepoint’s approach, therefore aligns with common practices among global financial institutions expanding into new markets.

Founded in 2015 by business executives Tosin Eniolorunda and Felix Ike, the fintech has established itself as Africa’s fastest-growing fintech, processing over 800 million transactions monthly with a total value exceeding $17 billion, all while operating profitably in its home market of Nigeria.

The company offers an all-in-one platform for payments, banking, credit, and business management tools, targeting businesses and underserved segments like the African diaspora. As Nigeria’s largest merchant acquirer, it powers most of the country’s Point of Sale (POS) transactions. Through its subsidiaries, Moniepoint Inc. processes $17 billion monthly for its customers while operating profitably.

Backed by global investors such as Development Partners International (DPI), Google’s Africa Investment Fund, Verod Capital, Lightrock, and Visa, Moniepoint raised $110 million in its Series C round in late 2024 (with additional funding in 2025 bringing its total to around $166–$240 million). This capital has fueled aggressive expansion, including into the UK, where Moniepoint aims to serve the UK’s African diaspora community with tailored digital financial services.

To accelerate this entry, Moniepoint acquired Bancom Europe in 2025, an FCA-regulated e-money institution. This move was strategic as it allowed the fintech to bypass the lengthy process of obtaining individual licenses in multiple countries. However, this acquisition and the associated setup costs highlight the regulatory compliance and infrastructure investments that demand significant capital before revenue kicks in.

Notably, in September 2025, Moniepoint announced its recognition by CNBC as one of the UK’s top fintech companies. The accolade highlights Moniepoint’s growing international presence and its role in advancing financial inclusion for Africans worldwide.

The fintech is on a mission to create a society where everyone experiences financial happiness by providing digital financial services and empowering businesses, their employees, and customers.

Investment Implications of Record $5.95 Billion Digital Asset Inflows

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Last week ending October 4, 2025 marked the highest week of net inflows into digital asset investment products ever recorded, totaling a staggering $5.95 billion.

This surpasses the previous all-time high of $4.39 billion from July 2025 and reflects surging institutional and retail interest amid favorable macroeconomic shifts.

BTC products captured the lion’s share with $3.7 billion in inflows, pushing Bitcoin to a new all-time high above $70,000. U.S. spot Bitcoin ETFs alone saw a peak daily inflow of $985 million on one day—the third-highest single-day record.

Ethereum Surge: ETH products drew $1.2 billion, with year-to-date inflows now at $13.7 billion, nearly tripling 2024’s total. Solana led altcoins with a record $706.5 million (YTD now $2.6 billion), while Ripple (XRP) added $219.4 million.

The inflows were fueled by a delayed market reaction to the U.S. Federal Reserve’s recent interest rate cut, combined with weak employment data and ongoing government shutdown risks. These factors amplified volatility in traditional markets, driving investors toward crypto as a hedge.

Total assets under management (AUM) for digital asset products now exceed $250 billion, with 2025 YTD inflows at $48.6 billion—already matching last year’s full-year record. This week’s performance builds on a strong year, where inflows have consistently outpaced 2024 despite occasional outflows like the $812 million in late September.

Earlier peaks included $3.7 billion in early September and $3.4 billion in April, but nothing approached this scale until now. Analysts from CoinShares note that selective focus on liquid, institutionally backed assets like BTC and ETH signals maturing investor confidence.

The massive inflows, particularly into U.S. spot Bitcoin ETFs ($3.7 billion) and Ethereum products ($1.2 billion), indicate growing institutional confidence in digital assets as a legitimate asset class.

Investors may consider increasing exposure to BTC and ETH through ETFs or regulated products, as institutional backing reduces volatility risks and enhances liquidity. However, due diligence on fund fees and tracking errors is critical.

The inflows coincided with U.S. Federal Reserve rate cuts, weak employment data, and government shutdown risks, suggesting investors view crypto as a hedge against traditional market volatility and inflation.

Digital assets, particularly Bitcoin, may serve as portfolio diversifiers during periods of economic uncertainty. Investors with low risk tolerance might allocate 1-5% to BTC or ETH to balance equity/bond exposures.

If macroeconomic conditions ststabilize such as stronger USD or hawkish Fed policy, inflows could slow, pressuring prices. Solana ($706.5 million) and Ripple ($219.4 million) inflows highlight selective altcoin interest, driven by their technological promise. However, BTC and ETH still dominate, signaling a “flight to quality” among investors.

Speculative investors might explore smaller allocations to high-potential altcoins like SOL or XRP, but should prioritize projects with strong fundamentals and institutional backing. Diversifying across 2-3 altcoins can mitigate risk.

Altcoins remain volatile; weaker projects could face outflows if market sentiment shifts toward safer assets. While the U.S. led with $5 billion in inflows, Switzerland ($536 million) and Germany ($312 million) set regional records, indicating global appetite.

Emerging markets like Brazil, Canada also contributed, suggesting crypto’s growing appeal in high-inflation or currency-devalued regions. Investors in non-U.S. markets might explore local crypto funds or global platforms to capitalize on this trend. Monitoring regional regulatory developments is essential.

Regulatory fragmentation could create uneven opportunities, with stricter jurisdictions like the potential U.S. clampdowns dampening inflows. Bitcoin’s surge past $125, 000 and total AUM exceeding $250 billion reflect strong bullish momentum.

However, such rapid inflows could signal speculative froth, especially if retail FOMO (fear of missing out) accelerates. Short-term traders might ride the momentum with tight stop-losses, while long-term investors should dollar-cost average to avoid buying at peak prices. Monitoring trading volumes and open interest in futures markets can signal overbought conditions.

Year-to-date inflows of $48.6 billion matching 2024’s full-year total and consistent weekly gains (e.g., $3.7 billion in September, $3.4 billion in April) suggest digital assets are becoming a permanent fixture in portfolios, rivaling traditional assets like gold or emerging market bonds.

Long-term adoption hinges on regulatory stability and technological advancements and Ethereum scaling, Bitcoin Lightning Network. Setbacks could delay mainstream integration. Conservative investors might limit crypto to 1-10% of their portfolio, while aggressive investors could go higher, depending on risk appetite.

Inflows into regulated products (e.g., ETFs) simplify tax reporting but require awareness of capital gains rules in your jurisdiction. For direct crypto holdings, use hardware wallets or trusted custodians to mitigate hacking risks.

The record inflows underscore crypto’s growing role in global finance, driven by institutional and macroeconomic tailwinds. However, volatility remains a concern, and investors should balance optimism with disciplined risk management.

A Look At Ethereum Foundation’s Latest ETH Sale And Lord Miles Profiting Off Personal Bets

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The Ethereum Foundation (EF) announced it would convert 1,000 ETH—valued at approximately $4.5 million at the time—to stablecoins using CoW Swap’s Time-Weighted Average Price (TWAP) feature.

This method spreads the sale over time to minimize market impact, aligning with the foundation’s emphasis on DeFi tools and transparency. The proceeds are earmarked for research and development (R&D), community grants, and donations, consistent with the EF’s treasury policy updated in June 2025.

This policy caps annual spending at 15% of holdings and builds a multi-year fiat reserve buffer to ensure financial sustainability amid Ethereum’s growth phase.

This marks the EF’s 17th ETH sale in 2025, following a larger 10,000 ETH conversion announced in September worth $43 million then. Post-sale, the EF holds about 222,720 ETH $1 billion, plus additional assets like wrapped ETH and DAI, totaling a portfolio of roughly $950 million.

Over April–October 2025, cumulative sales have reached ~36,000 ETH $65–72 million, often timed near rallies, which some traders view as a drag on price action despite the modest scale relative to ETH’s $500+ billion market cap.

Proponents praise the transparency and DeFi integration as a model for non-profits, while critics argue it signals weak conviction in ETH’s upside or adds unnecessary sell pressure amid ETF inflows now holding ~10% of circulating ETH.

Historically, EF sales have had limited negative impact—average price change one week post-sale is +1.3%—but timing near highs fuels speculation. As of October 6, ETH trades around $4,500, up 12% from recent lows, with no immediate price dip tied to this announcement.

Lord Miles’ Polymarket Profit from His Own Challenge

YouTuber and adventurer Lord Miles real name: Miles Routledge sparked controversy in September 2025 by allegedly profiting ~$60,000 from betting against his own 40-day water-only fast in the Saudi Arabian desert—a challenge announced on July 4 and turned into a Polymarket prediction market.

The market asked: “Will Lord Miles complete a 40-day fast in the desert by September 13?” with “YES” shares peaking at 70¢ implying 70% odds of success before crashing to near zero after rumors of his death, arrest, or disappearance on September 17 his last stream.

On-chain sleuths, including Coffeezilla and Arkham Intelligence, traced funds from Miles’ known donation wallets to a Polymarket address (0x3DE18B0D551ED1d455B5724494Eff3c73070563F, labeled “MONEYMONEYPLS”). July 5: Miles buys $3,473 in “YES” shares at ~29¢ but sells them two months later for ~$500 profit—missing a later pump to 70¢, which frustrated him.

Arkham Intelligence data on Aug 30–Sep 17: He shifts to $29,500 in “NO” shares at an average 33¢ betting failure, inverse to YES at 66% odds. Post-Sep 17: Market tanks after unverified claims (e.g., coma, death, Saudi jail), yielding $60,000+ profit on the “NO” position as shares hit 99¢.

Some reports inflate the profit to $400,000, linking it to laundered casino funds or bribes via multiple accounts, with $15 million total volume on the market. Miles’ X account now claims he’s in a Saudi jail, but skeptics call it a stunt to rig the outcome, especially after a sponsor (Duel) declared his “death” confirmed.

This isn’t isolated—Polymarket faced U.S. scrutiny in 2022 but relaunched legally in 2025 after acquiring a CFTC-licensed exchange. The scandal highlights prediction markets’ vulnerability to self-manipulation by influencers, eroding trust despite $170B+ in stablecoin liquidity enabling such bets. No formal charges yet, but it could invite regulatory heat on platforms like Polymarket.

Bitcoin Sets New All-Time High, Breaks Past $126k With Record ETF Inflows, and then falls below $123k

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Bitcoin has set a new all-time high on Monday, surging to $126,200, which has fueled bets on more upside. In early Wednesday, it is trading below $123k.

The milestone surpassed Sunday’s peak of $125,250, pushing Bitcoin mining stocks sharply higher as traders bet on more gains before year-end.

BTC rally comes amid the ongoing political gridlock in Washington, where many U.S. federal employees remain furloughed due to the government shutdown. Lawmakers have yet to pass a stopgap funding measure, leaving agencies such as the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) partially inactive.

Prediction markets on platforms like Kalshi and Polymarket suggest that traders expect the shutdown to persist for some time, though not for a historically long duration.

According to Bloomberg, Bitcoin’s recent upward momentum was accompanied by a surge in call option interest targeting $140,000. Jean-David Péquignot, Chief Commercial Officer at Deribit by Coinbase, described the move as the result of “a perfect storm of macroeconomic tailwinds.” He cited factors including the U.S. government shutdown, record spot ETF inflows, and declining exchange reserves as key drivers.

“ETF demand is squeezing supply, while seasonal optimism and geopolitical agitation position BTC as a prime hedge against inflation,” Péquignot explained, noting that technical indicators point to potential price targets between $128,000 and $130,000 by mid-October.

Supporting BTC momentum, U.S. spot Bitcoin ETFs recorded $3.2 billion in inflows last week their second-highest total since debuting in early 2024. Data from SoSoValue showed that on October 6 alone, Bitcoin ETFs attracted $1.19 billion in new investments.

BlackRock’s iShares Bitcoin Trust (IBIT) led the pack with $969 million in inflows, followed by Fidelity’s FBTC with $112 million. Bitwise’s BITB and Grayscale’s GBTC also saw modest inflows of $60.12 million and $30.55 million, respectively.

On-chain analytics further revealed that short-term Bitcoin holder whale investors who purchased BTC within the past 155 days are currently sitting on $10.1 billion in unrealized gains, the highest of the current market cycle. These holders, often considered more reactive to volatility, have played a significant role in amplifying recent price swings.

Bitcoin Analysts’ Projections

Amid the surging price of Bitcoin, several analysts are optimistic about a new high. Billionaire investor Paul Tudor Jones, speaking on CNBC, predicted that Bitcoin could experience a massive rally next year, drawing parallels to the dot-com bubble of 1999.

Juan Leon, Senior Strategist at Bitwise, views Bitcoin’s current trajectory as evidence of its maturing market behavior. He noted that Bitcoin’s volatility is beginning to converge with that of gold, signaling its evolution into a more stable asset class.

Bitcoin emerges as a superior store of value compared to gold

As global economic uncertainty deepens and traditional markets face mounting pressure, Bitcoin is increasingly being viewed as a superior store of value compared to gold.

Once seen as a speculative asset, the world’s leading cryptocurrency is now gaining recognition as “digital gold”, a hedge against inflation, currency debasement, and geopolitical instability.

Matthew Sigel, Head of Digital Assets Research at VanEck, emphasized Bitcoin’s growing appeal among younger investors in emerging markets. According to Sigel, this demographic increasingly views Bitcoin as a superior store of value compared to gold.

The comparison between Bitcoin and gold has intensified throughout the year. Gold climbed above $4,000 per ounce. At the same time, Bitcoin set back-to-back record highs. For many investors, gold still serves as the established hedge. However, Bitcoin’s digital attributes and scarcity are resonating with a younger generation that is more accustomed to digital-native assets.

Future outlook

Bitcoin’s trajectory appears increasingly tied to institutional participation and regulatory clarity in the U.S. Analysts forecast that sustained ETF inflows, coupled with Bitcoin’s fixed supply and growing appeal among younger investors, could propel prices toward $150,000 by early 2026.

As the crypto asset continues to position itself as a digital hedge against inflation and economic instability, it may further cement its role as the preferred store of value for investors, potentially challenging gold’s dominance in the years to come.