Today's Headlines:
MSCI Finalizes New Index Rules, Strategy and Other Companies Face Risk of Removal
Ramp Completes $1.85 Billion New Funding Round at $60 Billion Valuation
Market News: BInance.US Seeks $100 Million in Funding to Expand Crypto Business
Solana Accelerate China Shanghai Event Has Been Temporarily Cancelled
Binance Alpha Will List NeoSoul (DNA) Today at 16:00, Users With at Least 245 Points Can Claim 400 DNA
Gemini and CFTC's Joint Request to Vacate $5 Million Settlement Agreement Rejected by Judge
Decentralized Social Network Farcaster Acquired by Balaji's Network School
Bitcoin Long-Short Tug-of-War Intensifies, Probability of Rising to $100,000 Before Christmas Falls Below 10%
Regulation & Macro
Warsh Pushes for Fed to "Talk Less," Officials Warn It May Exacerbate Market Volatility
Federal Reserve Chairman Kevin Warsh is pushing to adjust the communication mechanism, advocating fewer public hints about the future interest rate path and considering weakening or even eliminating the quarterly interest rate dot plot, letting the market judge policy direction based on economic data itself. The new policy has stirred a wave of opposition within the Federal Reserve, with many policymakers believing that the central bank's responsibility to manage expectations is indispensable and that deliberately staying silent will cause violent market swings due to a lack of reference points. With September CPI rising to 3.7% year-over-year, the market still has divergent views on the subsequent rate hike path.
U.S. Initial Jobless Claims for the Week Ending October 10: 199,000, Expected 200,000
MSCI Finalizes New Index Rules, Strategy and Other Companies Face Risk of Removal
According to The Block, MSCI will adopt new rules that may lead to Strategy and Metaplanet being removed from its indexes. The methodology will be implemented in the November 2026 index review and take effect after the close on November 30, screening companies by evaluating operating assets and five financial ratios, replacing the previous temporary restriction on companies whose digital asset holdings exceed 50% of total assets. If a company fails the eligibility screening in both of its most recent two annual reporting periods, it will be removed. MSCI will publish the final list of affected companies on November 11.
Gemini and CFTC's Joint Request to Vacate $5 Million Settlement Agreement Rejected by Judge
New York federal district judge Alvin Hellerstein rejected a joint request by the CFTC and Gemini Trust Company that sought to vacate a Biden-era enforcement decision requiring Gemini to pay a $5 million penalty. Gemini and the CFTC argued in May that the settlement agreement violated principles of fair enforcement, with the CFTC saying an internal investigation found improper litigation tactics in the case and that it would not have brought the case under Trump. The judge ruled that "neither of the above two reasons is sufficient to support vacating the settlement," and noted that Gemini voluntarily signed the settlement agreement three weeks before trial.
Russia Plans to Ban Direct Individual Crypto P2P Transactions and Restrict Transfers to Self-Custodial Wallets Starting July 2027
According to Cointelegraph, the Bank of Russia stated that starting July 1, 2027, direct peer-to-peer (P2P) cryptocurrency transactions between individuals will be prohibited, and such transactions must be conducted through authorized intermediaries. In addition, individuals may not transfer crypto assets from digital accounts to their own non-custodial or self-custodial wallets.
New York City Comptroller Urges Anthropic to Pause IPO
According to CNBC, New York City Comptroller Mark Levine has written to Anthropic's CEO, calling on the company to pause its planned initial public offering (IPO) and to hold off until it fully and transparently responds to concerns it has raised regarding AI safety, governance, and development, and should focus on addressing these risks. New York City currently holds less than $10 million in investment exposure to Anthropic through private markets.
FTC Spokesperson: Trump AI Task Force Will Meet on Thursday
According to Jinshi, a U.S. Federal Trade Commission (FTC) spokesperson announced that the Trump AI task force will meet on Thursday.
Project Developments
Binance Will Support the Token Merger of Velodrome Finance (VELODROME) Into Aerodrome (AERO) and the AERO Contract Swap Plan
According to an official announcement, Binance will support the token merger of Velodrome Finance (VELODROME) into Aerodrome (AERO) and the AERO contract swap plan. Binance will stop trading and remove all existing VELODROME spot trading pairs (VELODROME/USDT) at 11:00 on November 03, 2026 (UTC+8), and will automatically cancel all open orders; existing AERO spot trading pairs will not be affected. Binance will suspend deposit and withdrawal services for old VELODROME tokens and old AERO tokens at 11:30 on November 03, 2026 (UTC+8). The opening time for deposits and withdrawals of the new AERO tokens will be announced separately after the contract swap is completed.
Solana Accelerate China Shanghai Event Has Been Temporarily Cancelled
The Solana Accelerate China 2026 event hosted by the Solana Foundation in Shanghai has been temporarily cancelled. An official email stated that due to logistical considerations regarding the venue, the morning agenda for that day has been postponed, and all registered attendees will be notified directly once a new schedule is confirmed, with deep apologies for the short notice and the inconvenience caused.
Binance Alpha Will List NeoSoul (DNA) Today at 16:00, Users With at Least 245 Points Can Claim 400 DNA
According to an official announcement, Binance Alpha will list NeoSoul (DNA) today at 16:00 (UTC+8). Users holding at least 245 Binance Alpha points can claim the token airdrop, claiming 400 DNA tokens on the event page on a first-come, first-served basis; if the event has not ended, the score threshold will automatically decrease by 5 points every five minutes. Claiming the airdrop will consume 15 Binance Alpha points, and users must confirm the claim within 24 hours, otherwise it will be deemed forfeited.
Decentralized Social Network Farcaster Acquired by Balaji's Network School
According to The Block, Balaji Srinivasan's Network School acquired the decentralized social network Farcaster from Neynar, marking its second change of ownership this year. The transfer covers the Farcaster app, protocol codebase, and related products. Most of Neynar's team members will join Network School, co-founders Rish and Manan will leave, and the future arrangements for the token issuance platform Clanker remain unclear. Farcaster will transform into a "network state protocol." Users who accept the new "social smart contract" can obtain access NFTs, while those who refuse can only browse in the main app. The platform will also require "proof of personhood" to reduce bot accounts.
Stacks Releases Q3 Ecosystem Report: BTC Staking Volume Reaches 735, STX Staking Volume Rises Over 25%
Bitcoin layer-2 platform Stacks released its Q3 ecosystem report: a total of 735 BTC entered the Bitcoin staking system during the first two lockup cycles. Since the PoX-5 hard fork, STX participating in staking increased from 392 million to 493 million, a rise of over 25%. The first lockup cycle (Bond 1) deposited 230 BTC, with participants including 21shares, HashKey Cloud, UTXO Management, and others; the second cycle deposited 505 BTC. Zest Protocol's locked value exceeds $80 million, deposits exceed $122 million, and total borrowings exceed $42 million. Stacks plans to launch self-custodial lending functionality collateralized by staked Bitcoin and Earn vaults in Q4, and intends to launch the Epoch 4.1 network upgrade in early December.
Pirate Chain Attacked, Token Supply Increased by About 20%Pirate Chain Releases Update on Exploit Investigation. On October 14, a transaction validation vulnerability was discovered in its source code, resulting in approximately 39.8 million ARRR being created without authorization, increasing the token's total supply by about 20%, with the new tokens immediately transferred into the Sapling privacy pool. NonKYC detected suspicious deposits and restricted the relevant accounts and blocked withdrawals. The exploit combined the failure of two validation steps: bypassing the supply-increase check and an output script parsing error. dPoW operators reached consensus to temporarily suspend notarization services, and the team has requested exchanges and mining pools to pause operations; the network is still operational.
Financing News
Ramp Completes $1.85 Billion New Funding Round at a $60 Billion Valuation
Ramp co-founder Eric Glyman announced that the company has completed a $1.85 billion new funding round at a $60 billion valuation, co-led by Dragoneer Investment Group, Thrive Capital, Founders Fund, Sands Capital, and Avenir Growth. This funding round comes just 4 months after a $750 million raise at a $44 billion valuation in June.
Tokenized Fund Liquidity Company Fission Completes $10 Million Series A Funding, Led by Pantera Capital
According to Fortune, tokenized fund liquidity startup Fission has completed a $10 million Series A funding round led by Pantera Capital, with participation from Circle Ventures, Borderless Capital, and Ari Rubenstein. The funding was completed in September 2026. The platform allows investors to compress the process of selling tokenized fund shares, which originally took about 200 days, to completion within 90 seconds by connecting a digital wallet. Its main clients are currently institutional investors, including hedge funds holding tokenized private credit or equity, crypto organizations, and stablecoin issuers.
Market News: BInance.US Seeks $100 Million in Funding to Expand Crypto Business
According to Aggr News, BInance.US is seeking $100 million in funding to expand its crypto business.
Views & Analysis
Jensen Huang Backs CoreWeave: No Need for Nvidia to Provide Guarantees, Financial Condition Continues to Improve
Nvidia CEO Jensen Huang said that data center operator CoreWeave's financial condition is improving. Speaking at an event in Stockholm, Huang said that "CoreWeave's strength is growing every day," and that he believes Nvidia does not need to provide financial guarantees for CoreWeave, whose cost of capital is declining. This comes after confidence in the credit market regarding CoreWeave's default risk deteriorated, and Huang is trying to restore market confidence.
Analyst: Selling Pressure in BTC Decline Mainly Comes from Short-Term Holders
Analyst Murphy pointed out that in the recent BTC pullback, the behavior of short-term holders (STH) and long-term holders (LTH) differed markedly. Short-term holders transferred an average of about 2,200 BTC per hour to exchanges within 4 hours, with the peak being the 4th highest since the market rally began in August this year. Both occurrences on October 8 and 15 appeared during the decline, and the transfer scale on the 15th was already lower than on the 8th, indicating that selling pressure from "swing chips" has weakened. Long-term holders transferred only about 480 BTC per hour during the same period, with a peak of 3,700 BTC/hour on October 8. Murphy believes that the current BTC participant structure is solid, and true bottom chips are not easily leaving the market.
Meme Coin Speculation Cools: Average Peak in 17.2 Days, Only 3% of Projects Can Return to All-Time Highs
According to Bloomberg, the lifecycle of meme coins is shortening, with an average of 17.2 days to reach an all-time high after first trading, of which one quarter peak within 1.6 days. The median time from peak to "death" (a 95% price decline) is 370 days, and only 3% of meme coin projects can return to their all-time highs. Analysis suggests that the market is being flooded with new tokens, while AI and prediction markets are diverting attention, cooling this speculative sector. Prediction markets overlap significantly with the capital demand that previously drove meme coin speculation.
Bitcoin Bull-Bear Tug-of-War Intensifies, Probability of Rising to $100,000 Before Christmas Falls Below 10%
According to Bloomberg, the crypto market has fallen into a bull-bear tug-of-war: analysts' bullish stance is locked in a standoff with a speculative market that has generally turned defensive. Bitcoin briefly fell below $80,000 for the first time in nearly a month, as a selloff in the U.S. AI sector dragged risk assets lower. Nick Forster, founder of Derive.xyz, said that over the past 24 hours, the market-implied probability of Bitcoin rising to $100,000 before Christmas fell by 2.8 percentage points to 9.7%.
View: If Bitcoin Rises to $126,000, Those Waiting to Buy the Dip at $75,000 May Miss Out
Trader Killa said that Bitcoin still has about 7% downside to $75,000, while it has about 56% upside to $126,000. The market may retest $75,000, or it may not happen. Do not miss a potential rally by waiting for a lower buying price. Previously, when Bitcoin was at $60,000, many investors missed the entire subsequent rally by waiting for $50,000. The market does not necessarily offer an ideal buying price, and even if the target price is reached, investors may continue to raise their expectations.
Important Data
"Terrifying Data" Far Exceeds Expectations: U.S. September PPI Data Rises Sharply
The U.S. September PPI year-over-year rate came in at 6.3%, the highest since May 2026 and above the expected 5.3%; the PPI month-over-month rate came in at 1.3%, far above the expected 0.5%; retail sales month-over-month came in at 0.8%, above expectations. Excluding food and energy, core PPI still rose 0.7% month-over-month and 5.0% year-over-year. Some subcomponents will be directly included in the PCE price index, which the Federal Reserve values most. Data such as a 5% single-month jump in airfare prices will greatly push up the PCE reading scheduled for release on October 29.
Pre-Market U.S. Stock News at a Glance: Spot Gold and Silver Rise Collectively, U.S. Treasury "Safe-Haven Trade" Returns
U.S. pre-market: The three major stock index futures were mixed, with Dow futures up 0.35%, S&P 500 down 0.31%, and Nasdaq 100 down 1.25%. WTI crude oil rose 0.33% to $95.400 per barrel, while Brent fell 1.18% to $104.804 per barrel. Spot gold rose 1.20% to $4,154.39 per ounce, and silver rose 1.94% to $56.70. TSMC is expected to have 2026 capital expenditure of $60 billion-$64 billion. CoreWeave's five-year CDS spread exceeded 1,000 basis points. Rocket Lab delayed the first flight of Neutron to 2027. Goldman Sachs expects Google's capital expenditure next year to be close to $350 billion. The 10-year U.S. Treasury yield fell as much as 10 basis points intraday to 5.08%.
Santiment: Number of Wallets Holding 10 to 10,000 BTC Reaches 20,338, a Record High
Santiment data shows that the number of wallets currently holding 10 to 10,000 BTC has reached 20,338, a record high. Despite sharp Bitcoin price volatility, the number of this group has continued to grow strongly since mid-July. Santiment believes that this group is closely related to Bitcoin's future price trend, and more large holders entering this range indicates that deep-pocketed investors remain confident.
CoreWeave's Three Founders Have Cashed Out $3.3 Billion Since IPO
According to Yahoo Finance, the three co-founders of AI compute leasing company CoreWeave have cumulatively reduced their holdings of company stock worth $3.3 billion since last year's U.S. IPO, including $2.4 billion cashed out so far this year. As credit risk continues to climb and investors become increasingly cautious about AI spending, triggering sharp stock price volatility, the three are locking in gains through large-scale cash-outs.
Bitcoin Spot ETF Saw Net Inflow of $5.0551 Million Yesterday, BlackRock IBIT Led with $16.7857 Million Net Inflow
According to SoSoValue data, Bitcoin spot ETFs saw a total net inflow of $5.0551 million yesterday (U.S. Eastern Time October 15). The largest net inflow was BlackRock IBIT ($16.7857 million), with cumulative historical net inflow reaching $65.640 billion; the largest net outflow was Grayscale Bitcoin Mini Trust ETF BTC ($7.6391 million). As of press time, the total net asset value of Bitcoin spot ETFs was $105.706 billion, the ETF net asset ratio reached 6.41%, and cumulative historical net inflow reached $56.961 billion.
Chip Stocks Shed $1 Trillion in Market Value, Investors Buck the Trend and Pour into Semiconductor ETFs to Buy the DipAs chip stocks shed $1 trillion in market value, ETF investors pour billions into the dip. The $72 billion VanEck Semiconductor ETF attracted more than $430 million in inflows over the past three trading sessions. The triple-leveraged Direxion Daily Semiconductor Bull 3X ETF has fallen nearly 21% this week, yet still drew about $3.8 billion in inflows, on track for a record-high single-week haul. The Philadelphia Semiconductor Index has fallen 12% over the past six trading sessions. Baird Strategas chief ETF strategist noted that leveraged dip-buying demand has not weakened due to the pullback.
Capital B posted a net loss of 69.5 million euros in the first half, with BTC reserves rising to 3,538 coins
French bitcoin treasury company Capital B released its 2026 half-year report, with first-half revenue of 5.846 million euros, up 3.5% year-over-year; net loss of about 69.5 million euros (compared with a loss of about 1.86 million euros in the same period last year), with the loss mainly from about 67.5 million euros in impairment charges due to the decline in bitcoin prices, involving no cash outflow. As of September 30, the company's bitcoin strategic reserve increased to 3,538 coins, with a cumulative purchase cost of about 310.6 million euros, averaging about 87,805 euros per coin, up 25.3% from 2,823 coins in January; year-to-date bitcoin yield was 2.2%.
Hut 8-linked wallet deposited 1,589 bitcoins worth $130 million to exchanges in two days
According to Lookonchain monitoring, bitcoin treasury company Hut 8, which holds 10,278 bitcoins (worth $845.6 million), appears to be selling its holdings. Over the past two days, a wallet linked to Hut 8 deposited 1,589 bitcoins (worth $130 million) to multiple exchanges.
A trader opened long positions worth $187 million in BTC and ETH 4 hours ago
According to on-chain analyst Yu Jin monitoring, trader address 0x30a...93e opened long positions worth $187 million at maximum leverage 4 hours ago, including a long position of 1,822 BTC (about $150 million) and a long position of 15,270 ETH (about $37.33 million). The trader's most successful previous trade earned $14.8 million: going long NEAR at $2.14 in late August and taking profit at $4.88 in late September.
A whale sold $15.25 million of SOL again after two months
Circle (CRCL) stock rose 10.03% intraday, now at $87.69
South Korea's KOSPI index opened up 1.8%, SK Hynix rose more than 2%
U.S. September PPI annual rate came in at 6.3%, the highest since May 2026
The U.S. September PPI annual rate came in at 6.3%, the highest since May 2026, above the market expectation of 5.3%; the PPI monthly rate came in at 1.3%, well above the expected 0.5%; the September retail sales monthly rate came in at 0.8%, above expectations.
Today U.S. bitcoin ETFs saw a net outflow of 3,209 BTC, and ether ETFs saw a net outflow of 38,915 ETH
According to Lookonchain monitoring, today U.S. bitcoin ETFs saw a net outflow of 3,209 BTC, with a 7-day net outflow of 5,250 BTC; ether ETFs saw a net outflow of 38,915 ETH, with a 7-day net outflow of 133,537 ETH.