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Bitcoin rose above $93,000 for the first time on Wednesday, adding to its postelection rally, as traders pored through October inflation data.

The price of the flagship cryptocurrency was last higher by more than 3% at $92,612.27. At one point, it briefly rose to a fresh record of $93,469.08.

Traders were digesting the most recent consumer price index, which showed prices increased 0.2% in October, bringing the 12-month inflation rate up to 2.6%. That was in line with expectations.

Bitcoin, which has recently benefited from a big postelection rally across risk assets, is seen by many investors as a hedge against potential fiscal policy that could spark inflation.

Other cryptocurrencies got a small boost as traders digested the past week of postelection gains. Ether and the Solana token were each higher by about 1%.

Dogecoin added 3%. It has been one of the biggest winners since the election due to Tesla CEO Elon Musk’s involvement in President-elect Donald Trump’s campaign and forthcoming role in his administration, which was announced Tuesday night.

Don’t miss these cryptocurrency insights from CNBC PRO:

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Figure AI sued by whistleblower who warned that startup’s robots could ‘fracture a human skull’

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Figure AI sued by whistleblower who warned that startup's robots could 'fracture a human skull'

Startup Figure AI is developing general-purpose humanoid robots.

Figure AI

Figure AI, an Nvidia-backed developer of humanoid robots, was sued by the startup’s former head of product safety who alleged that he was wrongfully terminated after warning top executives that the company’s robots “were powerful enough to fracture a human skull.”

Robert Gruendel, a principal robotic safety engineer, is the plaintiff in the suit filed Friday in a federal court in the Northern District of California. Gruendel’s attorneys describe their client as a whistleblower who was fired in September, days after lodging his “most direct and documented safety complaints.”

The suit lands two months after Figure was valued at $39 billion in a funding round led by Parkway Venture Capital. That’s a 15-fold increase in valuation from early 2024, when the company raised a round from investors including Jeff Bezos, Nvidia, and Microsoft.

In the complaint, Gruendel’s lawyers say the plaintiff warned Figure CEO Brett Adcock and Kyle Edelberg, chief engineer, about the robot’s lethal capabilities, and said one “had already carved a ¼-inch gash into a steel refrigerator door during a malfunction.”

The complaint also says Gruendel warned company leaders not to “downgrade” a “safety road map” that he had been asked to present to two prospective investors who ended up funding the company.

Gruendel worried that a “product safety plan which contributed to their decision to invest” had been “gutted” the same month Figure closed the investment round, a move that “could be interpreted as fraudulent,” the suit says.

The plaintiff’s concerns were “treated as obstacles, not obligations,” and the company cited a “vague ‘change in business direction’ as the pretext” for his termination, according to the suit.

Gruendel is seeking economic, compensatory and punitive damages and demanding a jury trial.

Figure didn’t immediately respond to a request for comment. Nor did attorneys for Gruendel.

The humanoid robot market remains nascent today, with companies like Tesla and Boston Dynamics pursuing futuristic offerings, alongside Figure, while China’s Unitree Robotics is preparing for an IPO. Morgan Stanley said in a report in May that adoption is “likely to accelerate in the 2030s” and could top $5 trillion by 2050.

Read the filing here:

AI is turbocharging the evolution of humanoid robots, says Agility Robotics CEO

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Here are real AI stocks to invest in and speculative ones to avoid

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Here are real AI stocks to invest in and speculative ones to avoid

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The Street’s bad call on Palo Alto – plus, two portfolio stocks reach new highs

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The Street's bad call on Palo Alto – plus, two portfolio stocks reach new highs

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