Today's headlines:
SpaceXAI unifies Grok, Cursor, and X Premium subscription plans
Cardano Card to cease service on October 31, Wirex shifts to non-custodial model
Ledger confirms hardware wallets sold by Southeast Asian distributor CryptoBilis were implanted with malicious components capable of stealing seed phrases
DeepSeek to complete 100 billion yuan financing
South Korean stock index plunges 5%, SK Hynix falls over 7%, Samsung Electronics drops nearly 6%
People's Bank of China approves Visa and two other companies to prepare bank card clearing institutions
Meta launches new Muse Wonder series models, claims leading agent task performance
Musk has donated over $275 million in recent months to support Republican midterm elections
Analysis: Bitcoin remains range-bound near $83,000, stronger dollar weighs on market sentiment
Morgan Stanley: Moderate CPI may give US stocks breathing room, bond market front-runs Fed tightening
Regulation & Macro
Fed Governor Waller: Trump poses a threat to Fed independence, but so far he has not succeeded
Fed Governor Waller said: Trump poses a threat to the Fed's independence, but so far he has not succeeded. I believe Congress and the courts will protect the Fed's independence.
Bank of England: No rush to launch digital pound "Britcoin"
According to Bloomberg, Bank of England Deputy Governor Sarah Breeden said during the IMF annual meetings that the UK is currently in no rush to launch a retail central bank digital currency (digital pound "Britcoin"), and whether to proceed depends on whether innovative payment solutions such as commercial stablecoins and tokenized bank deposits can realize the benefits of tokenization. She also hopes UK companies can develop successful pound stablecoins, avoiding a situation where UK residents and businesses can only access innovative payment services through dollar stablecoins.
People familiar with the matter: Bank of Japan leans toward not raising rates consecutively in October
People familiar with the matter revealed that Bank of Japan officials lean toward not implementing a rare consecutive rate hike this month, but still retain the possibility of taking rate action as early as December. In the absence of signs of a sudden increase in upside inflation risks, officials see no need for consecutive rate hikes. The central bank will carefully assess economic data to evaluate whether a new round of rate hikes can be initiated at the December meeting. The final policy decision at the October 30 meeting still remains uncertain until the last moment. Last month the policy committee already raised rates to 1.25%. Previously, US Treasury Secretary Bessent pressured Japan to continue advancing policy normalization and support a stronger yen.
Two people subjected to criminal coercive measures for spreading rumor that "Moonshot AI executives were taken away"
According to Shanghai Securities News, Beijing police disclosed on October 12 multiple cases of handling online rumors. Guo (male, 50) and Chang (male, 51), in order to gain traffic and industry attention, fabricated the rumor that "multiple people at a tech company were taken away" and published it on online platforms, causing it to spread. The reporter confirmed that the rumor previously targeted Moonshot AI KIMI. The two have been subjected to criminal coercive measures by local public security authorities in accordance with the law.
IMF raises 2026 global economic growth forecast to 3.1%
The IMF released its latest World Economic Outlook report, raising its 2026 global real GDP growth forecast to 3.1% (from 3.0% in July), saying AI investment mitigated energy price shocks in major economies; 2027 growth maintained at 3.4%. It expects global inflation to rise to 4.7% in 2026 and fall back to 4.1% in 2027. The US is expected to grow 2.3% in both 2026 and 2027, the euro area raised to 1.1% in 2026, India to grow 7.0% in both years, and Japan 0.7% in both years. It expects crude oil to average $96 per barrel in 2026, and noted that 32 countries currently contribute 95% of global economic growth (compared with about 54 countries in the April forecast).
People's Bank of China approves Visa and two other companies to prepare bank card clearing institutions
The People's Bank of China officially issued administrative licensing decisions to Visa Information Technology (Beijing) Co., Ltd., LianTong (Hangzhou) Technology Services Co., Ltd., and Mastercard NetsUnion Information Technology (Beijing) Co., Ltd., granting the three enterprises approval to carry out preparatory work for bank card clearing institutions. Visa is Visa's wholly foreign-owned enterprise in China, LianTong is American Express's joint venture in China, and Mastercard NetsUnion is Mastercard's joint venture in China. The approved institutions must complete preparations within one year, and after completion submit an opening application, which can only be granted a bank card clearing business license after approval by the central bank together with the National Financial Regulatory Administration. Industry participants believe that the simultaneous approval of preparatory qualifications for the three major international card networks in China marks further deepening of the opening-up of China's bank card clearing market.
South Korea decides to block websites of 27 unregistered crypto platforms including KuCoin and MEXC
According to South Korean media Etoday, the Korea Financial Intelligence Unit (FIU) stated that the relevant deliberative body has decided to implement domestic access blocking or service termination for 27 unregistered virtual asset service provider websites, involving KuCoin, MEXC, BingX, Phemex, BitMart, and others. Previous restrictions already covered app downloads, installations, and updates, and this time have been expanded to websites. The FIU has reported 44 unregistered operators to investigative authorities and will continue to block alternative URLs.
Musk has donated over $275 million in recent months to support Republican midterm elections
According to The New York Times, Musk has invested more than $275 million in recent months to support Republicans in retaining congressional control in the November US midterm elections, with some funds not yet disclosed in campaign finance records. A spokesperson confirmed the donations on Monday. People familiar with the matter said Musk donated $158 million this summer to the Senate Leadership Fund, which supports Republican Senate candidates, and injected tens of millions of dollars into the America PAC he founded. The committee has already run campaign ads in multiple states and listed at least a dozen competitive House seats as key targets.
Project Updates
ChangXin Memory Technologies announces breakthrough in memory chip technology, triggering declines in Samsung and SK Hynix shares
According to Bloomberg, ChangXin Memory Technologies (CXMT) President Cao Kanyu announced at an industry conference in Shanghai that the company will launch a new generation of data center server memory chips using a 4F² architecture by the end of the year. The 4F² design can integrate the same number of memory cells in a smaller area, a technological threshold Samsung and SK Hynix have failed to achieve for years. The approach reduces leakage by stacking transistors with vertical surrounding gates. The news triggered a global chip stock selloff, with Samsung and SK Hynix falling more than 7% in Korean trading on Tuesday, and Micron closing down 4% overnight. CXMT's DRAM market share has risen from 4% in the same period last year to 10% in the second quarter of this year.
SpaceXAI unifies Grok, Cursor, and X Premium subscription plans
SpaceXAI (SpaceX Super Intelligence) launched a unified subscription service, The X Subscription, integrating Grok, Cursor, and X Premium, allowing users to do AI programming in Cursor, handle work tasks through Grok Bot, create with Grok chat, and enjoy all X Premium features. The subscription offers five tiers from a free version to an Ultra version, and the company says each tier provides more usage per dollar of its own models than the comparable alternatives it replaces. Existing subscribers can keep their original plans or switch to the new plans, linking Grok, Cursor, and X accounts, with the new plans rolling out gradually. SpaceX completed its acquisition of AI programming company Cursor in August.
OpenAI Codex lead Tibo announces a global reset, effective before midnight US Pacific Time on October 12
OpenAI Codex lead Tibo posted an announcement that a global reset will be carried out, saying it will take effect by end of day Pacific Time (EOD PST), corresponding to midnight US Pacific Time on October 12, around 3 PM Beijing Time on October 13.
Cardano Card to cease service on October 31, Wirex shifts to non-custodial model
Cardano Card announced it will cease service on October 31, 2026, with cardholders still able to use it normally before then. Its partner Wirex is shifting to a non-custodial model and deactivating custodial infrastructure, and the partnership between the two will terminate on the same day. Cardano Card said it will soon announce details of follow-up arrangements.
Payy launches claims process after bridge contract attack, wallet to shut down afterwardPayy officially disclosed that a claims process has been initiated for users affected by the attack on September 24, with a 30-day claims window. The project's Ethereum bridge contract was attacked on September 24 at 04:21 UTC, and its balance was completely drained. Since then, all Payy Network transactions (including deposits and withdrawals) have been suspended. Valid claims will be paid in USDC on Ethereum; Payy Wallet is currently suspended and will be fully shut down at the end of the claims window. The claims form requires users to enter their Payy Wallet mnemonic phrase—due to the project's privacy architecture, the team says wallet balances cannot be confirmed without this mnemonic phrase.
Binance will list RWUSD today at 16:00, opening RWUSD/USDT spot trading
Binance will list RWUSD on October 13, 2026 at 08:00 (UTC), opening RWUSD/USDT spot trading, and will simultaneously launch a zero-fee promotion (until further notice). RWUSD can be used as cross margin collateral (borrowing is not supported for now), and within one hour of spot listing it will be integrated with Binance Convert for zero-fee conversion. RWUSD is a floating-term, daily-interest-bearing yield product, with yield derived from Binance ecosystem revenue and potentially backed by real-world assets such as U.S. Treasuries. It is pegged 1:1 to the stablecoin used and is converted to USDC upon redemption. Deposits and withdrawals are currently not supported.
Upbit designates BLUR as a trading caution asset, immediately suspends deposits
Upbit has designated Blur (BLUR) as a "Trading Caution Asset" and suspended BLUR deposit services starting October 13, 2026 at 15:00 (KST), affecting the BLUR/KRW and BLUR/BTC trading pairs. Upbit said that, based on its best-practice assessment for digital asset listings, Blur is lacking in business authenticity and sustainability and may cause harm to users. The caution asset designation period runs from October 13 to the fifth week of October (October 26–30), during which it will be reviewed under the delisting policy, and trading support may be terminated if the reasons for designation are not resolved. It reminded users that deposits made after the suspension time may not be credited and cannot be recovered.
ByteDance Seed establishes a separate large model safety and alignment department
ByteDance Seed recently sent an internal email announcing the establishment of the "Seed Model-Alignment&Preparedness" department, led by Yan Lin and reporting to Seed head Wu Yonghui. The original Responsible AI team and some Chat team members will be transferred to the new department. The department aims to strengthen investment in safety and alignment. The core of alignment is to keep model behavior consistent with human intent and safety constraints, in order to improve Agent Model safety capabilities and guard against frontier capability risks such as CBRN (chemical, biological, radiological, and nuclear).
Meta launches new Muse Wonder series models, says it leads in agent task performance
Meta launched the Muse Wonder series models, including Muse Wonder and Muse Wonder Full, calling them the company's most capable models to date and saying they achieve industry-leading performance on personal and professional agent tasks. The new models strengthen capabilities in professional fields such as law, finance, and healthcare, as well as frontier coding, and introduce Active Memory (retaining key information across conversations) and Active Focus (sustained progress and error correction on complex tasks). Starting today, they are available through the Meta Model API and Muse Code, and will later support more Muse products, initially rolling out to subscribers. The series builds on Muse Spark and is the latest result since the company began restructuring its AI business 14 months ago.
OneKey terminates CryptoBilis distribution authorization and stops accepting new distributors
According to Bloomberg, hardware wallet manufacturer OneKey has revoked the distribution authorization of Malaysian retailer CryptoBilis after funds were stolen from some Ledger wallets sold through that channel. Ledger confirmed that one affected user's device contained an unauthorized hardware implant; on-chain research firm YFarmX estimates the stolen amount at up to $103 million, which Ledger has not yet confirmed. CryptoBilis suspended all hardware wallet sales and shipments in Malaysia, the Philippines, and Indonesia on October 10. OneKey said there have been no reports of user asset losses so far, will provide free replacements for devices purchased through CryptoBilis between March 1 and October 12, and will stop accepting new distributors. OneKey is backed by Coinbase Ventures and YZi Labs.
Binance will stop mining pool and related services on November 10
Binance announced that it will stop Binance Pool and related services on November 10, 2026 at 15:00 (UTC+8), including Binance Pool, Pool Savings, cloud mining, trading acceleration, as well as Telegram hashrate alerts, email notifications, and mining pool API services. At that time, Binance Pool will disconnect mining connections and disable Stratum addresses and mining endpoints, after which submitted hashrate and shares will no longer be accepted or recorded. Binance recommends that users reconfigure their mining machines to other mining pools before the deadline and check Pool Savings positions, cancel subscriptions, or redeem. The Binance Pool page will remain available until November 24 at 15:00 for viewing historical data, after which it will be permanently closed.
Investment and financing news
DeepSeek to complete 100 billion yuan financing
According to Caijing Magazine, citing multiple deal participants, large model company DeepSeek will soon complete its latest financing round, with the amount increased from the previously planned 50 billion yuan to about 100 billion yuan. This is its second financing round, and the proposed fundraising amount doubled in less than half a month. New and existing shareholders are each expected to account for about half of the investment amount. The doubling of the financing scale did not affect the overall valuation, with the pre-money valuation still about 500 billion yuan. New investors include Shixi Capital, SMIC Capital, CPE Yuanfeng, Legend Capital, Geely, and others, mainly industrial investors.
AI-native infrastructure company Infinigence completes 2.3 billion yuan Series C financing, cumulative financing exceeds 4.3 billion yuan
AI-native infrastructure company Infinigence completed a 2.3 billion yuan (about $344.2 million) Series C financing, bringing cumulative financing to more than 4.3 billion yuan (about $643.6 million). Investors include Hangzhou High-Tech Gold Investment, Social Security Zhongguancun Fund, Zhuhai Technology Industry Group, Xuhui Capital, Tencent, Baidu, Lenovo, as well as financial investment institutions such as Sequoia China, Qiming Venture Partners, and Shunwei Capital. Earlier in early October, the company had confidentially submitted an IPO application to the Hong Kong Stock Exchange, planning to raise several hundred million dollars and list as early as the first half of 2027.
SoftBank-backed fintech company OPay plans U.S. listing to raise about $500 million
According to Bloomberg, SoftBank-backed fintech company OPay Digital Services Ltd. plans to raise about $500 million through a New York IPO and private placement. People familiar with the matter said the fundraising scale includes about $200 million in a concurrent private placement, with Standard Bank Group as the investor. The information has not yet been made public. OPay mainly provides mobile payments, digital finance, and other services. If the listing proceeds, it will become another SoftBank-backed company seeking financing in the public capital markets.
Views & Analysis
IMF: AI-driven selloffs and sharp rises in bond yields are potential threats to financial markets
The International Monetary Fund warned that bond market risks have risen since its April stability report, and that an adjustment in AI-related investment could have "global" effects. The IMF said AI-driven selloffs and sharp rises in bond yields are potential threats to financial markets.
Important Data
An ETH whale transferred 5,170 ETH to Tornado Cash
According to on-chain analyst Ai Yi, a whale that had built a position of 5,147 ETH between August 12 and 13 at an average price of $1,886.7 transferred 5,170 ETH in batches to the mixing protocol Tornado Cash about 5 hours ago, worth about $12.82 million. The tokens currently have an unrealized gain of about $3.056 million. The purpose of the transfer is currently unknown.
Ledger confirms that hardware wallets sold by Southeast Asian distributor CryptoBilis had malicious components implanted, which can steal mnemonic phrasesLedger's security team Ledger Donjon found that Ledger signing devices sold by Southeast Asian reseller CryptoBilis had unauthorized hardware components implanted. The implant is located inside the device casing, can read the content displayed on the screen, decodes the 24-word recovery seed phrase during initial setup, and exfiltrates it over LTE via a built-in eSIM; it does not modify the secure chip, the system, or transaction signing. This was confirmed on October 10 for one affected user's device. All confirmed fund losses currently associated with the incident disclosed on October 9 involve devices sold through CryptoBilis. CryptoBilis has stopped selling Ledger devices. The total number of affected users and the amount of losses have not yet been verified, and Ledger is investigating similar implant reports from other resellers and regions.
Bitcoin ancient whale transfers 138.32 million USDC to Binance
According to Onchain Lens monitoring, a Bitcoin ancient whale transferred 138.32 million USDC to Binance, worth about $138.32 million. The whale still holds 200 million USDC and 61.68 million USDT, worth about $261.68 million in total.
Korean stocks close down 5.4%, SK Hynix plunges 10%
South Korea's KOSPI index closed down 348.9 points, or 5.47%, at 6,035.34 on Tuesday. SK Hynix plunged 10.09%, and Samsung Electronics fell 7.38%.
Korean stock index plunges 5%, SK Hynix falls over 7%, Samsung Electronics falls nearly 6%
South Korea's KOSPI index extended its decline to 5%. SK Hynix fell over 7%, and Samsung Electronics fell nearly 6%.
A Bitcoin whale dormant for years moves out all 4,582 BTC, worth about $378 million
According to Lookonchain monitoring, an early Bitcoin holder dormant for years became active again and moved out all 4,582 BTC held, worth about $377.58 million. The original post did not disclose whether the funds flowed into exchanges; a transfer does not equal a sale.
South Korea's KOSPI index plunges 4.00% intraday, now at 6,128.40
South Korea's KOSPI index plunged 4.00% intraday, now at 6,128.40. The Nikkei 225 opened down 538.81 points, or 0.78%, at 68,492.11 on October 13 (Tuesday).
BAT rises over 16% intraday, up over 120% in the past month
OKX market data shows BAT moved higher in the short term, now at $0.1753, up 16.45% intraday, up about 11.6% over the past 24 hours, and touched an intraday high of $0.1759. It has continued to rise over the past month, with a cumulative gain of about 124% from the September 13 close of $0.0784.
BLUR falls 32.7% over the past 24 hours, now at $0.01275
OKX market data shows BLUR fell 32.7% over the past 24 hours, now at $0.01275. It was previously reported that NFT marketplace Blur will discontinue its frontend on November 12, and Blend will stop matching new loans.
3 Pump.fun-related wallets transfer 1.458 billion PUMP to Coinbase Prime
According to Yu Jin, 3 wallets belonging to the Pump.fun team or early investors transferred 1.458 billion PUMP (about $7.58 million) to Coinbase Prime 5 hours ago. These 3 wallets collectively hold an allocation of 70 billion PUMP, which began unlocking in July; the 1.458 billion transferred this time is their unlocked amount for this month.
SkyAI has recently sold about 1 million SOL, and may continue to reduce its holdings
According to Lookonchain monitoring, SOL treasury company SkyAI has transferred out 1.57 million SOL this month, worth about $175 million, with an average purchase price of about $194, implying a loss of more than $160 million. The company's announcement confirmed it has recently sold about 1 million SOL, about 50% of its original holdings, and still holds about 1 million, which it may continue to sell depending on market conditions. The proceeds from the sale are intended to be used for a cash tender offer to repurchase shares and warrants. The amount transferred on-chain is not equivalent to the amount actually sold.
South Korea's KOSPI index plunges 7% intraday, SK Hynix falls over 9%
South Korea's KOSPI index plunged 7.00% intraday, now at 5,936.36, SK Hynix fell over 9%, and Samsung Electronics fell 8.4%.