Davis Wilson:

My Experience Test Piloting a “Flying Car”

Yesterday I test piloted a “flying car.” It’s called the HEXA, built by LIFT Aircraft in Texas. Technically, it’s an ultralight eVTOL (electric vertical takeoff and landing vehicle). This 432-pound vehicle has eighteen independent electric motors, one seat, and a top speed of 62 miles per hour. And the craziest part? You don’t need a pilot’s license to fly it.

After brief VR training, I flew around in HEXA for about five minutes. I circled the inside of the geofenced area, experimenting with altitude and even rotating quickly in place. I could rise, descend, pivot, and bank gently without ever losing balance or confidence.

The technology is real and it works. But like most revolutionary ideas, regulation is the bottleneck. Under current FAA rules, ultralight and experimental aircraft cannot fly over populated areas, at night, or in bad weather.

However, last month, Transportation Secretary Sean Duffy unveiled a plan to fast-track Advanced Air Mobility Vehicles under a new initiative called the Electric Vertical Takeoff and Landing Integration Pilot Program.

It builds on President Trump’s executive order to strengthen America’s drone and air mobility industries. The goal: accelerate the rollout of next-generation aircraft like HEXA.

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Chris Campbell:

Bitcoin and Ethereum Rise as Delayed Report Shows Inflation Cooled in September

Bitcoin and other cryptocurrencies rose Friday after a widely watched inflation gauge showed consumer prices rose at a slightly slower-than-expected pace in the U.S. last month.

The Consumer Price Index rose 3% in the 12 months through September, the Bureau of Labor Statistics said. Economists expected the index, which tracks price changes across various goods and services, to show 3.1% annual increase, according to Trading Economics.

Bitcoin changed hands around $111,300, a 2% gain over the past day. The leading crypto by market capitalization had recovered to $113,000 on Tuesday, following its tariff-fueled drop from $121,000 two weeks ago. Ethereum and Solana rose to $3,960 and $193, respectively, while showing 2.5% and 2.1% gains over the past 24 hours.

September’s CPI report marked the third straight month in which inflation grew hotter after cooling to 2.3% in April. Meanwhile, core inflation, which strips out volatile food and energy prices, softened to 3% annually in September from 3.1% a month before.

The Federal Reserve still has several days to digest the reading before officials convene for the central bank’s latest policy meeting next week.

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JPMorgan Reportedly Plans To Let Clients Borrow Against Their Bitcoin and Ether

Investment banking giant JPMorgan Chase is reportedly planning to let clients use Bitcoin and Ether as collateral for loans, signaling Wall Street’s continued move toward embracing digital assets.

The new initiative would allow JPMorgan’s global clients to borrow against their Bitcoin (BTC) and Ether (ETH) holdings. The offering would store clients’ Bitcoin and Ether holdings through a third-party custodian, according to people who spoke to the news outlet.

If confirmed, the development could make the two leading cryptocurrencies more attractive for institutional investors, akin to the historic approval of the first U.S. spot Bitcoin exchange-traded fund (ETF) in January 2024.

The report follows months of speculation that JPMorgan could soon accept Bitcoin and Ether ETFs as collateral.

The investment bank has also expressed interest in stablecoins during an earnings call on July 15, when CEO Jamie Dimon said they plan to be involved in stablecoins to better “understand” this emerging asset class.

JPMorgan was among the first U.S. banks to venture into crypto. In 2020, it launched JPM Coin, a dollar-pegged stablecoin.

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