CPC Central Committee and State Council: Fully implement the "AI+" initiative, make forward-looking arrangements for future industries
The CPC Central Committee and the State Council have issued the "Opinions on Developing New Quality Productive Forces." The opinions mention: fully implement the "AI+" initiative. Advance the transformation of traditional industries by artificial intelligence, and accelerate the application of next-generation intelligent terminal scenarios such as intelligent connected new energy vehicles, AI phones and computers, and humanoid robots. Accelerate innovation in digital and intelligent technologies such as artificial intelligence, achieve breakthroughs in foundational theories and core technologies, and strengthen the efficient supply of computing power, algorithms, data, and other elements. Lay out national AI industry application pilot bases and high-value application scenarios in accordance with local conditions and by industry with targeted policies, and vigorously promote the application of artificial intelligence across all industries. Build a system for technology monitoring, risk warning, and emergency response to ensure that artificial intelligence is safe, reliable, and controllable. The opinions mention: make forward-looking arrangements for future industries. Explore diverse technological routes, typical application scenarios, viable business models, and market regulatory rules, promote the development of future industries such as quantum technology, biomanufacturing, hydrogen energy and fusion energy, brain-computer interfaces, embodied intelligence, and sixth-generation mobile communications, and accelerate the formation of a relatively complete industrial ecosystem. Establish a mechanism for investment growth and risk sharing in future industries, make full use of existing fiscal policies to support the development of future industries, and guide social capital to continuously increase investment.
UK sanctions three crypto exchanges, accusing them of helping Russia evade sanctions
The UK Foreign Office announced new sanctions on 38 entities, including three crypto exchanges and multiple payment platforms, accusing the related networks of helping Russia evade Western financial sanctions. The named entities include Canada-registered company Xeltox Enterprises (which operates Cryptomus, Heleket, and Certa Payments), as well as Kyrgyzstan-based TokenSpot, payment platform Processing KG (operating VexPay), Tsunami Payments, and Processing KG director Ulan Bukabaev. The UK side said that two of these companies had processed transactions involving the Kremlin-backed A7 network, which issues the ruble-pegged stablecoin A7A5 and claimed last year that more than $90 billion in funds had flowed through it. The sanctions freeze the related entities' assets in the UK and also cover Russian oil producers, 12 shadow fleet tankers, and suppliers for missile and drone production.
Bithumb to list XDP token on the Korean won market
South Korean crypto exchange Bithumb will list the XDP token on the Korean won market, with trading expected to open at 21:00 local time.
Network School receives Polychain-led investment at a $2 billion valuation
Polychain Capital founder Olaf Carlson-Wee announced during a livestream at the Network State conference that Polychain is leading a new funding round for Network School at a $2 billion valuation, with participation from a16z, Coinbase, and Network School founder Balaji Srinivasan, among others. The funding amount was not disclosed. Related reading: Visiting Network School: A Web3 utopia built in an unfinished Country Garden project in Malaysia
ESMA seeks comments on the use of tokenized collateral by central clearing institutions
The European Securities and Markets Authority (ESMA) has published a consultation paper seeking views on whether and under what conditions EU central counterparties (CCPs) can safely and effectively use tokenized collateral, covering "digital twins" of traditional assets, natively issued on-chain assets, and hybrid models, and focusing on issues such as the realizability of tokenized collateral in the event of a clearing member default, segregation of client assets, and settlement finality. The consultation period ends on January 15, 2027, and ESMA will assess feedback in the first quarter of 2027 and decide on next steps.
Zcash development team plans to introduce quantum-resistant signature opcode in January next year
Roman Akhtariev, an engineer at Zakura, the Zcash node software development team, said the team plans to introduce a post-quantum signature opcode for Zcash in January next year, enabling the network to verify hash-based signatures resistant to quantum attacks. The plan covers transparent transactions, which account for about 70% of issued ZEC; shielded transactions require separate protection. Previously, Justin Drake called for the industry to plan for a "bunker mode." ZEC fell about 11% over the past week.
Wall Street's five largest banks' Q3 equities trading revenue expected to approach $19 billion
The largest Wall Street banks are expected to report combined third-quarter equities trading revenue approaching $19 billion when they release earnings next week. However, as capital market activity begins to cool, performance gaps among banks are gradually emerging, with some banks starting to clearly outperform competitors. This contrasts sharply with the situation in the first half of this year, when nearly all of the five largest US banks benefited from a trading boom, with both equities and fixed income trading desks staying busy. According to analyst estimates compiled as of Thursday's New York market close, Goldman Sachs Group, which reports next Tuesday, is expected to lead major banks with $5.1 billion in third-quarter equities trading revenue. Morgan Stanley is expected to follow closely with $4.9 billion in equities trading revenue; JPMorgan Chase is expected to post $4.5 billion; and Bank of America's equities trading unit is expected to generate $2.6 billion in revenue.
Blockchain.com applies for CFTC licenses, plans to enter prediction markets and derivatives
Crypto platform Blockchain.com has applied to the US CFTC for Designated Contract Market (DCM) and Futures Commission Merchant (FCM) licenses. Once approved, it will offer event contracts (prediction markets) and crypto derivatives trading to US users. Blockchain.com currently offers prediction markets to some overseas users through Polymarket and supports perpetual contract trading through Hyperliquid.
Analyst: Suspected theft from multiple Ledger users' wallets, losses exceed $86 million
On-chain analyst Specter posted on X that multiple reports of Ledger user wallet thefts have appeared on X and Reddit. After tracking the thief's addresses, Specter found inflows of funds from hundreds of victim wallets across multiple major chains including Ethereum, TRON, and Bitcoin, with total losses exceeding $86 million. On-chain data shows that three BTC theft addresses received more than 211 BTC in total from October 8 to 9, and the funds have not yet been moved out. The cause of the theft is still unclear, and Ledger has not yet responded.
Circle newly mints 250 million USDC on the Solana network
At 20:44 Beijing time, USDC Treasury newly minted 250 million USDC on the Solana network.
Jev developer TypeSafe AI raises $870 million at a $7.5 billion valuation, led by a16z
AI startup TypeSafe AI completed a funding round of approximately $870 million, led by venture capital firm Andreessen Horowitz (a16z), bringing the company's valuation to $7.5 billion. It is reported that TypeSafe AI's AI model Jev quickly went viral weeks after release. Its co-founder Diogo Almeida said that after the launch video went viral, the company attracted significant attention from corporate executives, developers, and investors, and is currently used by about one-third of Fortune 500 companies, surpassing 1 million users within days.
Tongyi Qianwen open-sources Qwen-Image-2.1-Turbo, generating images in 8 steps
Alibaba's Tongyi Qianwen team posted on X that it has open-sourced the image generation model Qwen-Image-2.1-Turbo, which can generate and edit images with only 8 denoising steps. The model is accelerated from the 7-billion-parameter architecture of Qwen-Image-2.1, can generate 2K images, and supports continuous natural language editing. The weights have been opened on Hugging Face and ModelScope, and the Pro and Turbo APIs are also live.
Two addresses belonging to the same whale have cumulatively gone long nearly $50 million in BTC and ETH
Two addresses belonging to the same whale are collectively long about $50 million in BTC and ETH. Among them, diamondbull.eth opened a 25x long position of 11,500 ETH during the rebound, worth $28.72 million, ranking seventh among Hyperliquid ETH long positions, with an unrealized loss of $109,000. Its funding source address, samurai.eth, also holds long positions of 200 BTC and 2,000 ETH, worth $21.58 million, with an unrealized profit of $753,000.
79thVault attacker returns 15,000 BNB (about $11 million)79thVault was previously exploited by an attacker, with 10K $79AU tokens stolen and swapped for 16,249 BNB (approximately $12.51 million), during which the attacker deposited 30 BNB to KuCoin. The attacker subsequently returned 15,000 BNB (approximately $11 million) to a wallet address designated by the project team.
Ledger Responds to User Fund Theft: Involves Southeast Asian Reseller CryptoBillis
Ledger Support posted on X platform that it is investigating reports of stolen user funds from devices purchased from reseller CryptoBillis in Southeast Asia, and has asked it to suspend all Ledger device sales and shipments. Ledger advises users who purchased devices from this reseller within the past 90 days not to set them up if they have not been initialized; if already set up, they should transfer assets to a new device using a new mnemonic phrase. Analyst Specter previously said related losses may exceed $86 million.
New York State Permanently Bans Former Celsius CEO from Crypto Industry, Settlement Involves Up to $35 Million in Conditional Payments
Celsius co-founder and former CEO Alex Mashinsky reached a settlement with the office and will be permanently banned from participating in the securities, commodities, and cryptocurrency industries. The settlement agreement involves up to $35 million in conditional payments: if he fails to forfeit $10 million in illicit proceeds to the federal government as agreed, he must pay $25 million to New York State; if he does not serve the full 12-year sentence, he must also pay $10 million. The case involves more than 26,000 New York State investors.
Trump Establishes Committee to Investigate Fed Governor Cook
U.S. President Trump has established a committee to investigate mortgage fraud allegations against Federal Reserve Governor Lisa Cook, intensifying efforts to remove her from office. The White House published a memorandum signed by Trump dated Wednesday announcing the establishment of the committee.
Telegram Rolls Out Gram Wallet Money to All Users
The Gram wallet, previously available only to some users, has been renamed Money and is being rolled out to all Telegram users. Money can be used to store and send Gram, as well as purchase gifts and collectible usernames. Trading and investing are conducted through Walt, which supports more than 300 assets, including tokenized stocks, precious metals, perpetual contracts, and Earn wealth management products. Users can top up Money from Walt with one click, with instant transfers and no network fees.
Tether Has Begun Freezing USDT Related to Ledger Theft Case, Losses Rise to Nearly $90 Million
SlowMist's MistTrack posted on X platform that Tether has frozen a large amount of USDT on addresses related to the Ledger user fund theft incident. According to its current tracking, losses in the incident have approached $90 million, and some affected users have contacted it for assistance, with the team following up. Ledger previously said it is investigating the theft of user funds related to Southeast Asian reseller CryptoBillis.
User's 80 BTC All Stolen After Purchasing Ledger from CryptoBillis
A user bought 80 BTC at an average price of about $65,000 four months ago (approximately $5.2 million), at one point gaining $1.38 million in unrealized profit. About a week ago, the user purchased a Ledger device from reseller CryptoBillis and deposited all 80 BTC into it, which have now all been stolen. On-chain data shows that the BTC was deposited on September 29 and transferred on October 9 to an address previously flagged by analysts as a theft address.
CFTC Proposes to Explicitly Include Sports, Political, and Other Event Contracts in Swap Definition
The U.S. Commodity Futures Trading Commission (CFTC) issued a notice of proposed rulemaking to further define the term "swap," explicitly including event contracts based on sports, political, cultural, and weather events. CFTC Chairman Michael Selig said such products are commodity derivatives under the Commodity Exchange Act and fall under the CFTC's exclusive jurisdiction. The proposal will seek public comment for 30 days. On the same day, the CFTC also issued an interim final rule clarifying that casino-type gambling products such as sports betting and casino games are not swaps.
Bloomberg: U.S. Department of Justice Is Reviewing Whether Binance Complied with Its 2023 Settlement Agreement
The U.S. Department of Justice is reviewing whether Binance complied with its 2023 settlement agreement with U.S. authorities, focusing on transactions after the settlement that may have violated U.S. sanctions on Iran, including whether Binance knowingly allowed transactions that its systems should have blocked. The review is led by the U.S. Attorney's Office for the Southern District of New York and the Justice Department's Criminal Division, and involves a Hong Kong entity accused of helping transfer payments for Iranian oil sales. Binance responded that it has zero tolerance for sanctions violations. Binance previously pleaded guilty in 2023 and agreed to pay more than $4.3 billion in penalties and forfeiture, while accepting a compliance monitor.
SlowMist 23pds: Ledger May Have Been Implanted with Module to Steal Mnemonic Words Displayed on Screen
Former Mt.Gox CEO Mark Karpelès posted that a Ledger device he purchased from Malaysia contained a spy module with a SIM card chip hidden in the screen padding area, with the outer packaging intact. SlowMist Chief Information Security Officer 23pds analyzed that the attack process may involve a malicious module connecting to the screen data cable, recording the words displayed when the mnemonic phrase is generated, and then sending them to the attacker via LTE/eSIM; the secure element can only protect private keys from being read and cannot prevent screen contents from being intercepted.
Ledger Reseller CryptoBilis Suspends Sales and Shipments, Reminds Users to Transfer Assets
Because Ledger is investigating incidents of asset losses among users who purchased devices through this reseller, CryptoBilis has suspended all sales and shipments of Ledger devices. Users who have not yet activated their devices should stop setting them up, and users who have already activated them should transfer assets to a new device using a brand-new mnemonic phrase. CryptoBilis reminds users never to disclose their mnemonic phrase or PIN code, and users who have already suffered losses should preserve their devices and transaction records and report to the police.
CryptoBilis Expands Sales Suspension, Halts Sales of All Branded Hardware Wallets in Three Southeast Asian Countries
The company has suspended all branded hardware wallet sales and shipments across all stores and online channels in Malaysia, the Philippines, and Indonesia, with physical stores temporarily closed. The move is intended to protect customers during the Ledger security incident investigation and an independent expert review of internal processes. Undelivered orders will be handled proactively by customer service, and users who have already purchased Ledger devices should follow security guidance. The company expects to announce further developments within three business days.
Ledger Reseller CryptoBillis Involved in Incident Was Secretly Sold This Spring, Deal Included a Non-Disclosure Agreement
X user exsiway posted that the Malaysia-based authorized Ledger reseller CryptoBillis involved in the incident was sold by its original founder this spring, with the deal including a non-disclosure agreement requiring no public disclosure before October 19, but the store and "Ledger authorized" signage have remained to this day. Former CryptoBillis team members also previously said that new management had taken over and the original team was required to keep confidentiality until October 19. There is currently no official evidence directly linking the new owner to the tampered devices.
Aerodrome and Velodrome Merger Scheduled to Launch on October 21, Token Conversion Ratio Announced
Aero, the merged project of decentralized exchanges Aerodrome and Velodrome, has announced token conversion terms and deadlines. The merger will launch at 8 p.m. Eastern Time on October 21, when token emissions from the two old platforms will stop. Existing AERO will be exchanged 1:1 for new AERO, and each VELO will be exchanged for approximately 0.044 AERO, with the same ratio applying to liquid tokens and locked tokens. Of the new token supply, Aerodrome holders will receive 94.5%, and Velodrome holders will receive 5.5%. As of October 9, the two exchanges had a combined total value locked of approximately $422 million. Existing veAERO and veVELO locks will convert to the new sAERO, with remaining lock duration carried over, but migration must be completed manually through the official website portal, and self-custodied assets will not convert automatically. The merger was announced by Dromos Labs in November 2025.
Hacker Suspected of Moving Tornado Cash Money Laundering Funds to Hyperliquid, Shorting BTC with 40x LeverageA wallet received 263 ETH from Tornado Cash yesterday, then sold it for 643,000 USDC and deposited it into Hyperliquid. The address opened a short position on 305.5 BTC at $83,068 with 40x maximum leverage in cross margin mode, with a position size of approximately $25.38 million, a liquidation price of $84,088, and a current unrealized profit of approximately $160,000.