BlackRock CEO Larry Fink warned that a U.S. moratorium on data center construction could trigger a recession, arguing that AI infrastructure spending has become central to economic growth. He called much of the backlash over electricity use, water consumption and grid strain misinformation, while analysts estimate AI capital expenditures could exceed $1 trillion in 2027 and $5 trillion cumulatively through 2030. Opposition has produced moratoriums and permit restrictions, including in New York and Texas, and has become an issue in the Nov. 3 midterm elections. The update also said nearly $483 million in crypto futures were liquidated. Hyperliquid founder Jeff Yan called for regulation of firms building on the network rather than the blockchain itself. Fink’s comments carry significance for crypto because Bitcoin remains sensitive to macroeconomic conditions, and BlackRock oversees a major spot Bitcoin ETF.