Important News from Last Night and This Morning (October 21-22)

NVIDIA and Nokia to Explore Transforming Communication Networks into Distributed Intelligent Platforms

NVIDIA announced that major global telecom operators are expanding NVIDIA's accelerated computing technology to communication networks to provide services closer to users and businesses, improve wireless communication experiences, and achieve automated network operations. T-Mobile has completed the world's first commercial AI-RAN call; Deutsche Telekom, BT, and Elisa have announced AI-RAN pilot projects.

NVIDIA also launched two Aerial RAN Computer configurations aimed at intelligent computing and wireless access network workloads for high-capacity sites. In addition, nine telecom operators in Europe, the Middle East, and Africa are building or expanding infrastructure based on NVIDIA technology, while Nokia and Cisco are integrating NVIDIA's Nemotron open model into autonomous network operations software.

"Sam's Rule" Founder: The Fed Can’t Wait Any Longer; October Rate Hike is a Safer "Insurance"

Three weeks ago, the market believed there was a 70% chance of a Fed rate hike in October; now, that number has dropped to just 17%. As Wall Street becomes increasingly convinced that the Fed will remain on hold, former Fed economist and "Sam's Rule" founder Claudia Sahm stands on the other side. The reason lies in several sets of deteriorating data: August PCE inflation rose to 3.4%, September core CPI annualized around 4%, transportation and warehousing price increases reached their highest levels since 2022, and oil price expectations have also risen.

Sahm is concerned that what the Fed really needs to guard against is not "raising rates one more time," but being forced to slam on the brakes again after inflation spirals out of control. Another question is, if they don’t hike in October, what can the Fed use to prove that inflation will really return to 2%? Is a 25 basis point hike in October worth it? Sahm calculated for the Fed: not acting now could lead to a higher cost in the future.

South Korea's Ministry of Finance and Economy Discusses with Five Exchanges: No Clear Decision on Postponing or Abolishing Virtual Asset Taxation

The South Korean Ministry of Finance and Economy has held a seminar on virtual asset taxation with five exchange operators: Dunamu, Bithumb, DigitalX, Coinone, and Streami, as well as the Financial Services Commission, to discuss current taxation regulations, market conditions, and tax preparations, as well as the postponement or abolition of taxation, but no clear decisions have been made regarding related measures.

It is reported that South Korea's virtual asset taxation policy was established in 2020, originally scheduled for implementation in 2022, and has since been postponed to 2023, 2025, and 2027. The National Tax Service is currently preparing relevant details, but matters such as staking still need to be negotiated with the Ministry of Finance and Economy. If the details are published next month, there will be only about two months left until the planned implementation date.

Upbit to Launch AXIS Token on KRW, BTC, and USDT Markets

The U.S. Office of the Comptroller of the Currency (OCC) has finalized the GENIUS Act stablecoin regulatory rules, effective January 18, 2027.

The OCC announced the final rules for implementing the GENIUS Act on Wednesday, becoming the first regulatory agency to complete the regulatory framework for stablecoin issuance under the act. The new rules will establish a regulatory framework for approved stablecoin issuers, provide pathways for banks and non-bank entities to conduct payment stablecoin business, and clarify standards for overseas stablecoin issuers and asset custodians.

The final rules require stablecoin issuance regulation to adhere to standards for reserve support, redemption, and risk management. Compared to previous proposals, the new rules do not include presumptive violation clauses regarding specific business relationships between issuers and third parties, but regulatory officials stated that the OCC will still evaluate related arrangements on a case-by-case basis and has the authority to take enforcement actions against behaviors that evade the act's requirements. The issue of stablecoin rewards has previously become a contentious point between the U.S. banking industry and the crypto industry, with banks concerned that such rewards could lead to deposit outflows, while the GENIUS Act does not comprehensively prohibit platforms from offering rewards to users.

Changes in Bitcoin Derivatives Market Structure: Options Open Interest Rises to Nearly 60%, Risk Management Demand Grows

Data shows that the share of Bitcoin options in the crypto derivatives market continues to rise. The Bitcoin Volatility Index (BVIV) issuer Volmex reported that last week, the open interest of Bitcoin options accounted for slightly less than 60% of all Bitcoin derivatives open interest, up from about 50% at the beginning of the year, reflecting a market shift from purely betting on price direction to a greater focus on risk management.

As of last Friday, the total open interest in the Bitcoin derivatives market was approximately $129 billion, with about $36 billion related to U.S. Bitcoin ETF options and about $35 billion for BlackRock's IBIT options. Including options on native crypto platforms, the Bitcoin options market size is approximately $76 billion. ETF options currently account for about 47% of the Bitcoin options market, while the open interest for IBIT options has increased from about $11 billion in January 2025 to nearly $35 billion now.

CME Plans to Launch Tradeable Index Product Based on AI Model Token Spending with Silicon Data

CME Group plans to collaborate with AI index startup Silicon Data to launch a tradeable product based on AI model token spending. The related product will be based on its large language model (LLM) token index, weighting the token prices of different AI models based on usage. Silicon Data CEO Carmen Li stated that the market has a good understanding of GPU computing costs, but lacks understanding of the consumption layer in the AI economy.

In August, the two parties announced plans to launch a futures product based on GPU leasing costs. Silicon Data stated that the new token index product is planned to be launched in the coming months, but still requires regulatory approval. The LLM token spending index released by the company has hovered near the lows since its launch in December last year after experiencing a summer decline, which may reflect that users are shifting from high-end models to lower-priced alternatives.

A Trader Cleared 19.2 Million KIMCHI for a Profit of Approximately $255,900, Yielding a Return Rate of 2897%

A Solana trader bought 19.2 million KIMCHI for $8,790 and then sold it all for $264,600, achieving a profit of about $255,900, with a return rate of approximately 2897%. When the trader bought, KIMCHI's average market value was about $455,200, and it rose to about $13.7 million at the time of sale, and the trader has now cleared their position.

The Market Awaits the Fed's Decision: Bitcoin's 28-Day Volatility Drops to 1.2%, Approaching 2026 Low

K33 analysts expect that as the Fed's interest rate decision next week and the U.S. midterm elections on November 3 approach, Bitcoin market volatility may rebound. Data shows that Bitcoin's 28-day volatility has dropped to 1.2%, close to the lowest level since 2026, reflecting that current market trading activity remains sluggish.

Bithumb to Launch AT Token on KRW Market

South Korean crypto exchange Bithumb will launch the AT token on the KRW market, with trading expected to open at 22:00 local time.

Cboe Expands U.S. Stock Options Trading Hours, Covering Popular Stocks and Major ETFs like Robinhood

Cboe Global Markets, the parent company of the Chicago Board Options Exchange (Cboe), announced that it has expanded trading hours for certain U.S. stock and exchange-traded fund (ETF) options, adding pre-market and after-hours trading. The pre-market trading hours for related options are from 7:30 to 9:25 ET, Monday to Friday, and the after-hours trading hours are from 16:00 to 16:15, covering popular stocks such as Apple, NVIDIA, Tesla, Microsoft, Amazon, Google, Robinhood, Intel, and major ETFs like SPY, QQQ, and GLD, involving a total of 29 underlying assets.

Dogecoin Foundation Supports the Establishment of Dogecoin Labs to Promote Practical Applications of DOGE

With the support of the Dogecoin Foundation, Dogecoin Labs has officially been established, integrating the MyDoge wallet, DogeOS application platform, and Such App payment products into a single independent organization, led by CEO Jordan Jefferson. This organization will focus on expanding the use of DOGE in consumer applications, payments, business, DeFi, and gaming, promoting its use cases from community culture and meme-driven demand to practical applications.

Standard Chartered Signs Final Agreement for Full Acquisition of Zodia Custody, Custody Business to Merge with Bank, Software Business to Operate Separately

Standard Chartered Bank has signed a final agreement to acquire 100% of the shares of crypto asset custodian Zodia Custody, with the transaction pending regulatory approval. According to the arrangement, Zodia Custody's custody business will merge with Standard Chartered Bank, while its software business will be transferred to an independent company supported by Standard Chartered's venture capital arm, SC Ventures.

Analysis: U.S. SEC's Token Safe Harbor Proposal Still Lacks Certainty, Exchanges Worry About Future Liability

Crypto wallet backup company Vault12 submitted a letter to the U.S. Securities and Exchange Commission (SEC) on Tuesday, stating that the SEC's proposed token safe harbor framework fails to adequately eliminate concerns about listing tokens on centralized exchanges, and trading platforms remain worried about potential future challenges to the legal status of tokens by the SEC.

The SEC's "Regulation Crypto Assets" proposal, introduced in August, aims to provide exemptions for token financing and allow eligible projects to terminate the association between tokens and original investment contracts through a safe harbor mechanism. Vault12 suggested adding a 60-day objection period, stating that if the SEC does not raise objections within that period, eligible filings should have final effect on the agency, except in cases of fraud or material misrepresentation.

Pre-Market Highlights: Google Cloud and NVIDIA Announce Official Commercial Use of Vera Rubin Platform, JPMorgan Raises SpaceX Target Price to $500

Before the US stock market opens, investors should pay close attention to the following key market financial news: 1. The three major US stock index futures are moderately rising. Dow Jones index futures are up 0.24%, S&P 500 index futures are up 0.27%, and Nasdaq 100 index futures are up 0.64%. 2. International oil prices have narrowed their gains. WTI crude oil futures prices are up 0.29%, at $98.103 per barrel; Brent crude oil futures prices are up 0.04%, at $108.836 per barrel. 3. International gold and silver spot prices are mixed. Spot gold prices are up 0.08%, at $4128.47 per ounce; spot silver prices are down 1.05%, at $57.36 per ounce. 4. The three major European stock indices are all rising. The UK FTSE 100 index is up 0.11%, the French CAC40 index is up 0.69%, and the German DAX30 index is up 0.96%. 5. Google Cloud and NVIDIA announced the official commercial use of the Vera Rubin infrastructure. Google Cloud plans to expand the infrastructure based on NVIDIA's Vera Rubin to multiple sites, deploying up to 960,000 Rubin GPUs. 6. NVIDIA upgraded the Isaac general robotics development platform, launching a new humanoid robot reference framework, simulation workflow, and data tools aimed at accelerating general robotics development. 7. NVIDIA announced an expansion of substrate capacity with supply chain partners such as Samsung Electronics and Xinxing Electronics, planning to increase related product substrate capacity to 2.5 times the current level over the next three years. 8. Amazon plans to receive NVIDIA GB300 server racks worth approximately $5 billion in advance, to be deployed in US data centers, and will continue to add hardware purchases at a scale of $3 billion per month in the future. 9. Google CEO stated that even if customers now wish to obtain computing power for 2027, it is extremely difficult for Google to meet the demand, but he remains confident in long-term computing power needs. 10. OpenAI announced that its cutting-edge models, including GPT-6 Astra and Codex code intelligence agents, will soon be available on Google Cloud. 11. Apple has launched a global limited purchase of the foldable iPhone Duo, with each customer allowed to purchase only 2 units. 12. Sensor Tower's latest data shows that since its launch in September, downloads of Meta's AI agent Muse have exceeded 10 million, with user retention rates outperforming AI competitors like ChatGPT and Claude. 13. SK Hynix completed a stock buyback of 40 trillion KRW. This buyback accounts for about 3.3% of the company's total issued shares, marking the largest stock cancellation operation by a listed company in South Korea. 14. JPMorgan doubled its target price for SpaceX from $240 to $500, corresponding to a market value of approximately $6.8 trillion.

Analysis: Chip stocks have fallen over 10% in two weeks, while Bitcoin shows greater resilience, suggesting the market may no longer view it as a leveraged substitute for tech stocks.

Coinbase Institutional published an analysis indicating that chip stocks have again seen double-digit declines over the past two weeks, marking the second round of significant downturns since June, but Bitcoin has shown noticeably greater resilience during these two adjustments. The analysis suggests that this phenomenon indicates the market may no longer simply view Bitcoin as a leveraged substitute for tech stocks, with its price movements gradually decoupling from tech stocks.

Former New York Fed President Dudley: The AI investment boom may lead the Fed to raise interest rates first and then cut them significantly.

Robinhood's RVI invests $30 million in Erebor Bank preferred stock.

Robinhood Ventures Fund I (NYSE: RVI) announced that it has invested $30 million to purchase preferred stock of Erebor Bank, National Association in the US. Erebor is a national chartered bank in the US focused on the innovation economy, serving sectors including defense, robotics, artificial intelligence, and hard technology. The bank obtained its national banking license and federal deposit insurance from the OCC in February 2026, and its deposit scale has exceeded $7 billion.

Grayscale expands physical asset product subscriptions, covering BTC, ETH, SOL, and more.

Grayscale announced the expansion of its in-kind investing service, allowing eligible investors to directly deliver corresponding digital assets in exchange for shares of Grayscale products without first selling digital assets for fiat currency and then purchasing with cash.

Currently, this mechanism covers 10 products, including Bitcoin Mini Trust ETF (BTC), Ethereum Staking Mini ETF (ETH), Avalanche Staking ETF (GAVA), Chainlink Trust ETF (GLNK), Dogecoin Trust ETF (GDOG), Hyperliquid Staking ETF (HYPG), Solana Staking ETF (GSOL), Sui Staking ETF (GSUI), XRP Trust ETF (GXRP), and Zcash ETF (ZCSH). This expansion further opens up conversion channels between digital assets and traditional investment products, providing more asset allocation and trading execution options for eligible investors.

GTA 6 features fictional meme coin Dacity Coin, with Solana's similarly named token being speculated by traders.

The latest trailer for Grand Theft Auto 6 (GTA 6) features the fictional token "Dacity Coin," sparking speculation among crypto traders about its in-game use. Some traders believe that the token may only appear in side missions, while others speculate that players may be able to buy and sell the token in-game, similar to trading stocks in GTA 5, or even use it as in-game currency. Currently, Rockstar Games has not confirmed any related settings. As a result, traders have created a similarly named meme coin on Solana, which has no official connection to the game or Rockstar Games, with a market value that once rose to $15 million.

SkyAI's major shareholder questions the board's oversight failure, demanding an explanation for SOL liquidation and a revised buyback plan.

Bastion Trading, a major shareholder holding approximately 9.99% of SkyAI (NASDAQ: SKYA), issued a statement demanding that the company's executive chairman Paul K. Danner III and several directors publicly explain the decision-making process behind liquidating all SOL reserves and approving the cash tender offer. Bastion Trading demands that the tender offer price be raised from $3 per share to at least $3.5, and that the maximum acquisition ratio for pre-financing warrants be increased from 95% to 100%; at the same time, it requests that strategic advisor warrants be excluded from the acquisition scope, and that securities and potential earnings held by directors, executives, and related parties be disclosed, along with information on SOL sale transactions, company assets and liabilities, and the basis for tender offer pricing.

SPCX stock rises 10.22% during trading, currently at $163.12.

According to Binance market data, SPCX stock rose 10.22% during trading, currently at $163.12.

Bankless founder: ZEC will reach 10% of Bitcoin's market value in this cycle, and 25% in the next cycle.

PANews reported on October 21 that Bankless founder David Hoffman posted on platform X, stating: "Did you think ZEC's market has ended? ZEC will reach 10% of BTC's market value in this cycle, and in the next cycle, it is expected to reach 25%."

SpaceX's total market value rises to $2.22 trillion, surpassing TSMC.

According to Binance market data, SpaceX's stock price rose 10.56%, currently at $163.390 per share, with a total market value of $2.22 trillion. TSMC's stock price rose 0.34%, currently at $426.535 per share, with a total market value of $2.21 trillion.

Solana mainnet officially launches Alpenglow upgrade, reducing finality from 12.8 seconds to 150 milliseconds.

Solana officially announced that the Alpenglow upgrade has now launched on the Solana mainnet. This upgrade reduces the finality time of transactions from approximately 12.8 seconds to about 150 milliseconds, significantly improving network confirmation speed.

"UBTC whale exchanges for ETH" exchanged 3038.73 ETH worth $7.5 million through three addresses in the past hour.

The "UBTC whale exchanges for ETH" exchanged 3038.73 ETH worth $7.5 million through three addresses in the past hour, accumulating over 46103.3 ETH since October 11, with a total value exceeding $115 million, at an average exchange price of $2513.11.

PHP exposed serious security vulnerabilities, leading to large-scale shutdowns of government websites in multiple countries.

Due to serious security vulnerabilities discovered in the widely used PHP programming language, multiple government websites in Europe and other regions were forced to shut down on Wednesday, with website operators urgently taking measures to protect system security. The PHP development team announced on Tuesday that two serious security vulnerabilities were discovered and urged users to update immediately after the release of the fix.

The PHP team stated on Wednesday that a new version fixing the vulnerabilities has been officially released. However, due to reports that hackers are exploiting the vulnerabilities to breach websites, government agencies in countries such as the Netherlands and Finland have proactively shut down some websites before the patch release. PHP is one of the most widely used programming languages on the internet, supporting website platforms such as WordPress, Drupal, Joomla, and Magento. According to website technology statistics agency W3Techs, about 75% of websites that can identify the programming language used employ PHP. Approximately 43% of websites are powered by WordPress, covering blogs, small business websites, government portals, e-commerce platforms, and news websites, and this security incident has led to large-scale disruptions of websites in multiple European countries.

Google responds to PHP's two core vulnerabilities: the cloud platform itself is unaffected, Gemini 4 Argon participates in attack detection and patch verification work.

Google responded to the core vulnerabilities CVE-2026-109618 and CVE-2026-109619 in PHP, stating that the Google Cloud platform itself is not affected by these two vulnerabilities, but users running PHP on the platform may still face risks. Google also stated that Gemini 4 Argon participated in vulnerability discovery, exploit development, attack detection, and patch verification work.

Analysis: ETF fund inflows are recovering, but Bitcoin is still constrained by the $84,300 cost line.

Bitfinex published an article stating that although Bitcoin has faced downward pressure multiple times, it continues to hold the lower end of the range, and it is expected that before the Federal Reserve's FOMC interest rate decision on October 28, BTC will remain in the range of $81,300 to $84,400. If the price tests the upper end of the range, short-term traders taking profits may bring some selling pressure.

In terms of market data, on October 19, Bitcoin spot ETF saw a net inflow of $526.7 million, indicating an increase in spot demand, but BTC prices are still fluctuating narrowly between $81,724 and $83,470, and the current price remains below the average cost of $84,333 for ETF investors. Meanwhile, the open interest of futures contracts on major exchanges has rebounded by 4.2% to 645,410 BTC since the low on October 12, and the funding rate is normalizing, indicating a recovery in leveraged long positions.

Musk may create a Bitcoin holding giant: SpaceX and Tesla combined hold 30,200 BTC.

Musk stated during SpaceX's third-quarter earnings call that both SpaceX and Tesla's boards have established a special committee of independent directors to evaluate the possibility of merging the two companies, but emphasized that it cannot yet be determined that a transaction will be reached.

According to Tesla's latest quarterly filing and SpaceX's pre-IPO S-1 submission, the two companies hold 11,509 and 18,712 bitcoins respectively, totaling 30,221 bitcoins, valued at approximately $2.5 billion based on a bitcoin price of around $83,000. The total cost of the bitcoin holdings for both companies is about $1 billion, with an average purchase price of around $35,000 per bitcoin. If the merger is completed, this batch of bitcoins will be included on the same balance sheet, making the merged company one of the largest holders of bitcoin globally, second only to a few large holders like Strategy. However, currently, neither company has signaled any intention to increase or sell their bitcoin holdings, and the merger is still in the evaluation stage.

Trump Plans to Emphasize Fighting Transnational Cryptocurrency Fraud at White House Event

As the U.S. midterm elections approach, the connections between Trump and his administration with the cryptocurrency industry have come under scrutiny due to allegations of conflicts of interest. White House officials revealed that President Trump plans to highlight his administration's actions against overseas criminal organizations using cryptocurrencies for fraud during a cybercrime event at the White House.

The White House stated that transnational criminal groups are stealing funds from American citizens through emotional scams, phishing, and ransomware attacks. U.S. law enforcement agencies have frozen approximately $833 million in crypto assets related to overseas fraud and have shut down 503 cryptocurrency websites involved in fraud under the operations of a special task force from the Department of Homeland Security. Nearly 9,000 American citizens have been notified that they are victims of scams.

Data: Pump.fun Transfers 129,800 SOL to Exchange

Onchain Lens posted on platform X that Pump.fun transferred 129,800 SOL from its fee wallet to Kraken, valued at approximately $14.06 million, possibly for sale. According to Solscan data, the receiving address has been marked as a deposit address for Kraken, with the related funds transferred in multiple batches to Kraken's hot wallet.

Lighter Plans to Apply for Derivative Brand License with CFTC in November, LIT Rises Over 22%

Decentralized perpetual contract trading platform Lighter announced during its Q3 investor call that it plans to submit an application for a derivative brand license to the U.S. Commodity Futures Trading Commission (CFTC) in November 2026, aiming to become the first on-chain perpetual contract DEX approved by the CFTC. Founder Vladimir Novakovski stated that the team has been in communication with regulators for about 11 months. Currently, Lighter has integrated with Robinhood Chain to provide perpetual contract trading, and the number of Lighter Core accounts has exceeded 1 million. According to OKX market data, LIT has risen 22.26% in the past 24 hours, currently priced at $3.89.

Anthropic Launches Proactive AI Assistant Claude Duet Research Preview

According to information from the Claude website, Anthropic has launched the research preview version of its proactive AI assistant, Claude Duet, which is currently open for waitlist applications. Claude Duet is powered by Opus 5.5 and is available as a standalone application on iOS and Android, with access via the claude.ai website on computers. The assistant runs on cloud-based independent computers, can call connected applications, pushes daily briefings in the morning, and continues processing tasks while the user is away, seeking user consent before performing sensitive operations like sending messages or making payments. The research preview phase is only available to U.S. Claude Pro and Max users, with team and enterprise versions not included. Anthropic's engineering lead Felix Rieseberg announced the opening of the waitlist on platform X on the same day.

Meta Reports Q3 Revenue of $64.6 Billion, Up 26% Year-on-Year

Meta reported Q3 revenue of $64.6 billion, a 26% increase year-on-year; however, operating profit was impacted by $9.9 billion in legal fees, resulting in an operating profit of $12.99 billion, down 37% year-on-year; net profit was $9.86 billion, up 264% year-on-year, with diluted earnings per share of $3.83. The average daily active users (DAP) in September was 3.64 billion, a 3% increase year-on-year.

Meta expects Q4 revenue to be between $73 billion and $76 billion; the full-year capital expenditure guidance for 2026 has been narrowed from $130 billion to $145 billion to $135 billion to $145 billion, and it stated that it will continue to invest actively in support of core business and AI plans, with expected losses from Reality Labs narrowing to about $15 billion.

Tesla Reports Q3 Revenue of $28.05 Billion, No Bitcoin Sold

Tesla released its financial report, showing Q3 revenue of $28.05 billion, roughly flat compared to the same period last year; adjusted earnings per share were $0.48, above market expectations of $0.45; GAAP net profit was $787 million, down 43% year-on-year; operating profit was $718 million, down 56% year-on-year; gross margin was 19.60%; free cash flow was $1.53 billion, while the market had previously expected a negative $4.92 billion.

Additionally, Tesla did not sell any bitcoin in Q3 and still holds 11,509 BTC, with $288 million in unrealized gains from its bitcoin holdings included in the GAAP net profit for the quarter.

OpenAI Updates Usage Policy: Model Intermediary Platforms Must Be Approved, Prohibits Using Outputs to Train Competing Models

According to OpenAI's official website, OpenAI has updated its usage policy, which will take effect on November 20, 2026. The new policy requires that any service operating intermediary platforms for accessing models or allowing third parties direct access to OpenAI models (such as model routers and AI gateways) must obtain prior approval from OpenAI, with exceptions for applications that integrate OpenAI models solely for functionality. Additionally, the new policy explicitly prohibits using OpenAI models or their outputs to prepare, filter, or provide training data and signals for alternative or competing models, including constructing training tasks, reinforcement learning environments, and providing feedback such as scoring and ranking, as well as extracting protected inference content through unauthorized access or reverse engineering. The new policy also clarifies requirements for protecting minors and high-risk uses, and includes approval requirements for national security and law enforcement uses.

Aerodrome and Velodrome Merge to Launch Aero, Covering Seven Blockchain Networks

Aerodrome and Velodrome, two major DEXs on Base and OP Mainnet, announced their merger and the launch of the on-chain spot trading platform Aero. Aero is now live on the Ethereum mainnet, Base, Robinhood Chain, Ink, OP Mainnet, Arc, and Arbitrum, with a combined monthly DEX trading volume of approximately $120 billion across these seven networks. Following the merger, AERO and VELO tokens will migrate to the new AERO token, while veAERO and veVELO will convert to sAERO. Aero is developed by Dromos Labs, and its founder and CEO Alex Cutler stated that 100% of the platform's revenue will be distributed to AERO stakers. New features include "Predictive Allocation" (allowing stakers to direct liquidity reward budgets to markets expected to generate income), cross-network trading capabilities (Metaswaps), and support for dynamic fee rates and MEV capture with Slipstream V3. In Q3, Aerodrome held a 58% share of DEX trading volume on Base, while Velodrome held a 60% share on OP Mainnet.

Zhao Changpeng Warns: Be Extra Cautious When Visiting Any Website in the Coming Days

Binance founder Zhao Changpeng (CZ) posted on platform X, warning that PHP has been disclosed to have two vulnerabilities (CVE-2026-109618, CVE-2026-109619) affecting servers running applications like WordPress and Magento. Details of the vulnerabilities were leaked before the patch was released, which is scheduled for October 21. Shortly after the leak, confirmed cases of exploitation have already been reported. Attackers can turn affected websites into tools for stealing visitors' credentials or attacking their devices without authentication. IT teams are deploying WAF (Web Application Firewall) protections and installing patches. Zhao Changpeng reminded users to be extra cautious when visiting any website in the coming days.

Bybit CEO: Seeking Partnerships with Major Brokerages for U.S. Market Entry, UK as Potential Expansion Target

Bybit CEO Ben Zhou stated that Bybit will seek partnerships with companies that already have a customer base in the U.S. when entering the market to compete with companies like Robinhood, mentioning that they may consider brokerages like Interactive Brokers that have not yet ventured into the crypto business. Ben Zhou noted that applying for licenses state by state in the U.S. takes 2 to 3 years, and it may be better to wait for the passage of the Clarity Act or for the SEC to implement federal-level regulation uniformly. He also stated that there is currently no global exchange dominating the UK market, and Bybit is exploring entry into the UK, with the location of its London office yet to be determined. Bybit is the second-largest cryptocurrency exchange by trading volume, with over 80 million registered users across more than 180 countries and regions.

Cardano Ecosystem DeFi Protocol Genius Yield Gradually Ceases Operations

The Cardano ecosystem DeFi protocol Genius Yield is gradually ceasing operations. Co-founder Lars Brünjes announced the launch of the open-source browser application Genius Zero, allowing users to bypass the Genius Yield backend to directly unstake, cancel DEX orders, and claim rewards through smart contracts. The application is licensed under the MIT license and relies on Blockfrost for querying on-chain data. Claiming rewards still requires a co-signature service run by Brünjes personally, while unstaking principal does not depend on this service. The original DEX order book fees still flow to addresses controlled by Genius Yield, and modifying fee rates requires the signatures of three out of the four original founders, which has not yet been authorized.

SEC Announces Three Companies Planning to Operate Tokenized Securities Trading Platforms Under Innovation Exemption

The U.S. SEC announced on its official website that three companies have notified it of their plans to operate tokenized securities trading platforms (TSV) under the new Innovation Exemption. Among them, TSV LLC submitted its application on September 23, held by Obsidian Systems co-founders Ali Abrar and Ryan Trinkle, planning to operate on the Canton Network, with Trinkle also serving as a board member of the Canton Foundation; OKXICE TSV submitted its application on October 4, a joint venture between OKX and ICE, planning to operate on OKX's Ethereum Layer 2 network X Layer; Kephas Corp. submitted its application on October 14, a U.S. subsidiary of Perpetuals.com, led by former FTX Europe head Patrick Gruhn, planning to operate on a publicly permissionless Layer 2 network Kronos X Public and adopting a permissioned trading pool. The SEC stated that inclusion on the list does not mean that the companies have met the exemption conditions.

Coinbase Derivatives Platform to Undergo Maintenance on October 24 at 6 PM, Futures Trading Expected to Pause for 9 Hours

Coinbase Markets announced that Coinbase Derivatives will undergo routine maintenance starting at 18:00 Beijing time on October 24, expected to last for 9 hours. During this period, futures and perpetual futures trading on Coinbase Financial Markets will be suspended, but account access will not be affected. The maintenance is scheduled to end at 03:00 on October 25.

Kling 4.0 API Officially Launched

The Kling 4.0 API service has officially launched and will gradually be made available to global enterprise clients and developers. It is reported that Kling 4.0 is the latest model released by Kling, capable of generating up to 30 seconds of native content in a single instance, supporting long shots and continuous narratives, with directorial thinking fully online. Currently, Kling 4.0 has been launched simultaneously on platforms such as iQIYI Nado Pro, Higgsfield, LibTV, Magnific (Freepik), Meitu, OpenArt, OiiOii, TapNow, Tencent Design Miora, and updream.

GMX Proposal to Use Remaining Solana Revenue for Buyback and Introduce 180-Day Unstaking Waiting Period

The GMX governance forum released the GMLabs-003 proposal, planning to use all remaining protocol revenue from the Solana side after deducting GT buybacks for GMX buybacks. The purchased tokens will be added to the staking reward pool, while the GT buyback mechanism will remain unchanged.

The proposal also aims to introduce a 180-day unstaking waiting period for existing and new GMX and esGMX staking positions on Arbitrum and Avalanche, calculated from the submission of the unstaking request, with previously staked time not counted. Pending requests can be canceled, and existing positions do not need to be migrated. The above adjustments are scheduled to be implemented on October 28, depending on the readiness for implementation.

Vitalik: The Endgame of Cybersecurity Benefits Defense, but the Transition Will Be Challenging

Ethereum co-founder Vitalik Buterin stated that he does not believe that defense will automatically be ahead of attacks. He anticipates that the endgame of cybersecurity will favor defenders, but the transition will be very difficult. He pointed out that "good actors finding vulnerabilities in released software before bad actors" is not a model where defense prevails, requiring methodological shifts such as formal verification and significant simplification of the Trusted Computing Base (TCB), which are just beginning. He expressed that this is an important reason for his continued support for slowing down or pausing developments, calling for more than 1% of GDP to be invested in securing the network, biological, and physical worlds. Previously, an AI system discovered a vulnerability in PHP that could take over servers, and Nate Soares believes this incident undermines the argument of "defense leading attacks."

Google Chrome 156 Stable Release Launched, Fixing 353 Security Vulnerabilities

According to the official blog of Chrome Releases, Google announced that Chrome 156 has entered the stable channel for Windows, Mac, and Linux, with version numbers 156.0.8078.47/.48, which will be gradually pushed over the next few days to weeks. This update fixes 353 security vulnerabilities, including 6 critical, 61 high, 197 medium, and 89 low severity issues. Critical vulnerabilities involve components such as Skia, Accessibility, CSS, Paint, and WebRTC. Anthropic researcher Xinyang Ge reported 5 of these vulnerabilities using Claude, while OpenAI Codex Security reported 4. The highest single bounty was $10,000.

AI News You Should Know

Selected AI news worth paying attention to in the last 24 hours, helping you filter out AI noise. Source: ++PANews AI Observation Room++
Anthropic Launches Claude Duet, Directly Competing with ChatGPT Dots and Meta Muse

Summary: Anthropic has released a research preview of Claude Duet, a resident AI agent that actively manages tasks across applications, currently open for a waiting list for Pro and Max subscribers in the U.S. This feature does not incur additional charges but counts towards existing usage limits, and background tasks may lead users to reach their limits faster.

AI Discovers Critical PHP Vulnerability PHP2Shell, Affecting 70% of Websites Worldwide

Summary: Wiz Research and OpenAI's "Patch the Planet" initiative disclosed multiple high-risk vulnerabilities in the PHP core engine, with a CVSS score of 9.2, involving unauthenticated remote code execution and memory leaks, affecting all PHP versions over the past decade. PHP released a patch on October 21.

Recursive Releases Open Source Local Programming Model Flint: 40B Total Parameters / 2.5B Active

Summary: Recursive, founded by Richard Socher, has released its first model Flint, featuring a 39.8B total parameter MoE architecture with approximately 2.5B active parameters, open-sourced under the Apache 2.0 license. The official claims it achieved 74.2% on SWE-bench Verified and runs 125+ tok/s on M4 Pro MacBook.

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