Today's headlines:
1. JPMorgan expands its deposit token JPM Coin to Ethereum, opening it to institutional clients
2. Musk announces that next year he will give one SpaceX share to every child in the United States
3. Nvidia GTC Berlin conference opens on October 20; Jensen Huang will deliver the keynote on the 21st
4. Anthropic announces the establishment of a public benefit fund, pledging 5% of shares for the public interest
5. Unitree Robotics rises more than 10%, with trading volume exceeding RMB 1.5 billion
6. Tokens including ZRO and XPL will see large unlocks next week, with ZRO's unlock valued at about US$43.3 million
Regulation & Macro
National Financial Regulatory Administration: Bring all financial activities under regulation in accordance with the law
The opening ceremony of the 2026 Financial Street Forum Annual Meeting was held in Beijing. Ding Xiangqun, Director of the National Financial Regulatory Administration, said that China's banking and insurance industries are currently operating steadily overall, with risks generally controllable. The National Financial Regulatory Administration, together with all relevant parties, is strictly cracking down on illegal financial activities, strengthening regulation of cross-regional, cross-departmental, and new-format new-product financial activities, bringing all financial activities under regulation in accordance with the law, and striving to achieve full coverage with no exceptions.
The 2026 Financial Street Forum Annual Meeting opens this afternoon; heads of four departments including Pan Gongsheng and Wu Qing will deliver keynote speeches
The 2026 Financial Street Forum Annual Meeting opens this afternoon at Beijing Financial Street and will run until October 22. The theme is "Openness · Cooperation · Inclusiveness — Building a New Ecosystem for Global Financial Development Together," with more than 400 guests from over 40 countries and regions attending. PBOC Governor Pan Gongsheng, National Financial Regulatory Administration Director Ding Xiangqun, CSRC Chairman Wu Qing, and SAFE Administrator Zhu Hexin will deliver keynote speeches. The forum plans to hold 21 thematic activities and 3 special conferences, among which the Fintech Conference will focus on frontier topics such as blockchain and artificial intelligence, and is expected to release achievements including the central bank's digital renminbi system and the digital renminbi smart contract ecosystem service framework.
Nine U.S. companies including Broadcom and Verizon oppose tokenized trading of their shares on OKXICE
According to CoinDesk, OKXICE, a tokenized stock trading platform jointly established by OKX and Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange, disclosed that nine U.S.-listed companies oppose trading of their shares on the platform, including Broadcom, Verizon, UnitedHealth, AppLovin, Applied Digital, Rocket Lab, CoreWeave, Applied Optoelectronics, and Cerebras Systems, which had previously opted out. The announcement did not explain the reasons for the opposition. In addition, Nasdaq said it will not allow its own shares to be tokenized under the framework. OKXICE previously notified the SEC that it plans to rely on the five-year "innovation exemption" introduced by the SEC on September 17 and initially list tokenized shares of 63 U.S.-listed companies.
Latvia plans to allow residents to pay taxes with crypto as early as 2027, with parliament simultaneously reforming crypto taxation rules
According to CoinDesk, a strategic planning adviser to Latvia's prime minister said the country plans to allow residents to pay personal income tax with crypto as early as next year. The Ministry of Finance has agreed, but technical integration with payment service providers remains to be completed. Latvia's parliament passed legislation on October 15 to tax withdrawals from crypto investment accounts exceeding the initial deposit amount, replacing the previous practice of taxing each transaction, and introduced a one-time declaration mechanism: holders may pay 10% on the declared market value of assets by the end of 2026 to settle historical tax liabilities, with the declaration period from April 1 to May 31, 2027, and the tax payment deadline of July 23. The payment service providers and eligible currencies were not disclosed.
Project Developments
Musk announces that next year he will give one SpaceX share to every child in the United States
Musk posted on X that next year he will give one SpaceX share he holds to every child in the United States, calling it "just the first of many steps."
JPMorgan expands its deposit token JPM Coin to Ethereum, opening it to institutional clients
According to Bloomberg, JPMorgan has launched its deposit token JPM Coin on the Ethereum network, opening it to institutional clients. The token is pegged to U.S. dollar deposits and supports customers in completing transfers and receipts 24/7 in seconds, rather than the several business days previously required. JPM Coin was first launched last year and previously ran on Base, a blockchain associated with Coinbase.
Bithumb to list CT token on the Korean won market
According to an official announcement, South Korean crypto exchange Bithumb will list the CT token on the Korean won market, with trading expected to open at 19:00 local time.
Upbit to list CT token on the Korean won, BTC, and USDT markets
According to an official announcement, South Korean crypto exchange Upbit will list the CT token on the Korean won, BTC, and USDT markets, with trading to begin at 18:00 local time on October 19.
Nvidia GTC Berlin conference opens on October 20; Jensen Huang will deliver the keynote on the 21st
Nvidia GTC will be held in Berlin, Germany, from October 20 to 22 local time, and Jensen Huang will deliver the keynote on the 21st. This year's GTC features more than 100 thematic sessions focusing on accelerated computing, agentic AI, physical AI, robotics, open-source models, AI infrastructure, and other directions, with the conference's focus further shifting from "selling GPUs" to "selling AI factories."
Mirae Asset Securities plans to launch its first tokenized financial products in Q1 2027
According to Digital Asset, Mirae Asset Securities is advancing plans to launch its first tokenized financial products in the first quarter of 2027, initially focusing on private money market funds (MMFs) and private bonds for institutional investors. Private MMFs mainly invest in short-term financial instruments, and private bonds are likewise issued to specific investors. The company said the specific launch time, final product mix, and token issuance and distribution structure have not yet been determined.
Anthropic announces the establishment of a public benefit fund, pledging 5% of shares for the public interest
Anthropic announced that it will contribute part of its shares to the newly established Anthropic Public Benefit Fund. Subject to shareholder approval, it has first pledged 5% of shares; thereafter, each time the company's valuation grows 50% above a set baseline, the board may at its discretion add another 2%. The fund is established as a wholly owned LLC, and the equity it holds will not be used for lobbying or political donations in any country. It will be used for large donations to nonprofit organizations and direct payments to specific groups, with one focus being addressing the labor market impact brought by AI (it has previously invested US$200 million for this purpose). Combined with the founders' donation of 80% of their holdings and an employee equity matching plan, about 20% of Anthropic's shares will be used for the public interest.
Mt. Gox extends creditor repayment deadline by one year to October 31, 2027
A notice on the Mt. Gox website shows that the rehabilitation trustee, with court approval, has extended the creditor repayment deadline from October 31, 2026 to October 31, 2027. The notice said that base repayments, early lump-sum repayments, and intermediate repayments have been basically completed, but a large number of creditors have still not received repayments because they have not completed receipt procedures or problems occurred during the repayment process.
Institutional credit protocol Clearpool releases v4.0 whitepaper: to expand to XRP Ledger and migrate CPOOL 1:1 to CLEAR
Clearpool published the whitepaper for its 2026 v4.0 protocol. It will work with Ripple and Cicada Partners to expand to XRP Ledger, settle in the stablecoin RLUSD, and migrate the token from CPOOL to the new token CLEAR at a 1:1 ratio. CLEAR has a total supply of 1.429 billion tokens, with 1.125 billion in circulation at the time of migration. The migration and XRPL expansion have passed a Snapshot vote with 97.16% approval. The protocol has issued approximately US$965 million in loans cumulatively since 2021. 50% of protocol fees will be used for open-market buybacks and permanent burning of CLEAR. The XRPL product is being prepared for testing on Devnet.
Deutsche Bank plans to expand crypto custody to Asia in 2027, with German service launching soon
Deutsche Bank plans to launch crypto asset custody services, allowing corporate and institutional clients to hold and transfer bitcoin, ether, and stablecoins such as USDC, EURC, and EURAU, with the bank responsible for security technologies such as wallets and private keys. According to Reuters, the German service will launch within weeks and still requires regulatory approval; BaFin authorized it under MiCA on October 12. The bank plans to expand the service to Asia in 2027, without disclosing the specific preferred regions.
Deepseek discloses API web search and crawling fees: RMB 5 per 1,000 successful requestsDeepSeek announced that the DeepSeek API now supports web search and crawling, billed per request at RMB 5 per 1,000 successful requests. Currently, the Search/Fetch interfaces used by users when accessing the DeepSeek API in DeepSeek Harness/Claude Code/Codex are not yet billed, and will begin charging per-call fees from 00:00 Beijing time on November 1, 2026.
Nscale IPO plans face another setback: Microsoft exits data center project
According to The Daily Telegraph, Microsoft has withdrawn from a data center partnership project with UK cloud service provider Nscale in Loughton, Essex, without specifying the reason. The project faces delays, and local authorities have told Nscale that power is not expected to be supplied to the facility until the 2030s; Nscale's flagship project in Norway is also about six months behind, with only 6.4 MW of a planned 30 MW data center capacity in operation. About 85% of Nscale's contracts depend on Microsoft and Anthropic, making Microsoft's exit a blow to the company. The company is seeking to raise up to $3 billion through an IPO and could list as soon as this month.
CZ's autobiography "Freedom of Money" Japanese edition launches, with all proceeds donated to charity
Binance founder CZ (Changpeng Zhao) announced that the Japanese edition of his autobiography "Freedom of Money" was officially released on the day, after the English edition, Chinese edition, and Audible audiobook edition had previously launched, with more languages to follow. CZ said all proceeds from the book will be donated to charity. He also released a 4-minute-31-second video recounting his personal experience, noting that most of the video and voiceover were generated by AI.
World launches World ID suite for banks, Zoom deepfake detection fully opens
According to The Block, identity project World has launched a World ID suite for banks and financial institutions, the protocol's first industry-specific product. Co-founder Alex Blania unveiled it at the Money20/20 conference; the suite integrates the World ID app, World ID for Zoom, and AgentKit for AI agents, aimed at preventing deepfakes and AI impersonation. Zoom's deepfake detection feature has ended testing that began in April and is now fully open. OpenExchange, Bain Capital, VanEck Funds, and Outtake are design partners, with specific bank names and pricing not disclosed. More than 18 million people currently hold "Proof of Human."
Views & Analysis
Zakura proposes allocating a separate viewing key for each ZEC cross-chain swap to guard against future quantum computer decryption
The team behind the new Zcash software Zakura has proposed allocating a separate viewing key for each ZEC swap completed through NEAR Intents to defend against privacy threats from future quantum computers. When a user swaps ZEC for USDC, NEAR Intents publicly displays a Zcash address on the NEAR public chain for refunds; that address carries a public key generated from a viewing key, and future quantum computers could use Shor's algorithm to derive the key and link all of the account's incoming payment records. The Zakura proposal gives each swap its own viewing key, keeps the spending key in the user's main account, and locates refunds through private information retrieval. The team says wallets such as Vizor could support it within weeks, earlier than the January quantum-resistant payment target set by Zcash developers.
Musk comments on Anthropic's public benefit fund: suggests "giving the shares directly to the public"
In response to Anthropic injecting part of its shares into a new wholly owned entity, the Anthropic Public Benefit Fund (initially 5%, with an additional 2% each time valuation grows 50% above the baseline, up to about 20%), Musk replied suggesting "giving the shares directly to the public," and then added, "That's exactly what I'm going to do."
Michael Saylor proposes Bitcoin-backed dollar stablecoin concept, targeting 6% to 8% annualized yield
At the ParaFi investor day, Strategy founder Michael Saylor proposed that his ideal "digital currency" should be pegged to the dollar, maintain extremely low price volatility, and offer 6% to 8% annualized yield, calling it a "Bitcoin-backed stablecoin" that combines the functions of a medium of exchange, unit of account, and store of value. His idea is to use Bitcoin as underlying capital and provide yield to holders through a digital credit structure. He also discussed increasing the dividend frequency of Strategy's perpetual preferred stock STRC to daily to reduce price volatility caused by ex-dividend dates and improve liquidity.
Bloomberg: Hyperliquid seeks US rules that protect the blockchain and place regulation at the application layer
According to Bloomberg, Hyperliquid Labs co-founder Jeff Yan is seeking US rules that can protect its blockchain. He believes regulatory responsibility for Hyperliquid should fall on the financial institutions operating markets on top of the blockchain, that is, the application layer, rather than the blockchain network itself; such a division would allow Hyperliquid to enter Wall Street without bearing the full compliance burden of a traditional exchange. Hyperliquid is not yet open to US customers and would prefer to become underlying trading technology used by traditional financial institutions, positioning itself by analogy to Amazon Web Services providing computing infrastructure to enterprises.
Key Data
South Korean stocks open sharply lower by 3%
The KOSPI index fell below 5,600 points early in the session, down 3.17% on the day. SK Hynix fell 4%, and Samsung Electronics fell 3%.
Ethereum spot ETFs saw $320 million in net outflows last week, the third consecutive week of net outflows
According to SoSoValue data, Ethereum spot ETFs saw $320 million in net outflows last week (Eastern Time October 12 to 16), the third consecutive week of net outflows. The largest net outflow was BlackRock's ETHA ($299 million weekly, with historical total net inflows of $12.49 billion); next was Grayscale's ETHE ($18.2783 million weekly, with historical total net outflows of $5.49 billion). The largest net inflow was Fidelity's FETH ($10.5539 million weekly, with historical total net inflows of $2.34 billion). Total net asset value of Ethereum spot ETFs was $14.95 billion, the ETF net asset ratio was 5.07%, and historical cumulative net inflows were $12.94 billion.
A-share humanoid robot sector extends gains, Suocheng Technology hits 20CM limit up
The A-share humanoid robot sector extended gains, with Suocheng Technology hitting the 20CM limit up, Siling Zhiqu, Orbbec, and Shangwei New Materials rising more than 10%, while Haitian Ruisheng, Alt, Buke Shares, and Changsheng Bearing followed higher.
Nikkei 225 intraday decline widens to 2.2%, KOSPI intraday decline narrows to 1%
The Nikkei 225 fell below 64,000 points, down 2.20% on the day. South Korea's KOSPI narrowed its intraday decline to 1.00%, after earlier falling more than 3%.
MARA Holdings transfers 1,000 BTC to exchanges within 5 days, suspected selling
According to Lookonchain, Bitcoin mining company MARA Holdings appears to be selling BTC. Over the past 5 days, wallets associated with MARA deposited a total of 1,000 BTC, worth about $82.8 million, to Binance and Gate.
US stock futures rebound as investors return to AI trades after selloff
US stock futures rose on Sunday evening, with S&P 500 futures up 0.5% to 7,739.75, Nasdaq 100 futures up 1% to 29,686.75, and Dow futures up 0.1%. In the prior week, the Nasdaq Composite fell 4.5%, ending a four-week winning streak, while the S&P 500 fell nearly 2%. Nvidia-backed data center operator CoreWeave fell 12% on Friday and about 25% over five days. Tech giants including Meta and Tesla will report earnings this week. Trump exempted Russia sanctions and tariffs, and Brent crude futures fell more than 1% to $108.52 per barrel.
A whale restaked about 5 million HYPE, worth $38.92 million
According to Onchain Lens monitoring, a whale newly staked 399,994 HYPE (about $30.92 million), bringing its total staking over the past day to about 500,000 HYPE (about $38.92 million). This HYPE had been unstaked by the address two months earlier.
China's GDP grew 4.6% year on year in the first three quarters, with third-quarter growth rebounding to 4.5%The National Bureau of Statistics released economic data for the first three quarters: GDP was 107,107.1 billion yuan, up 4.6% year on year, with growth of 5.0%, 4.3%, and 4.5% in the first, second, and third quarters respectively, and 1.2% quarter-on-quarter growth in the third quarter. Value-added of industrial enterprises above designated size grew 5.3%, and high-tech manufacturing grew 14.3%. Total goods imports and exports were 39,939.9 billion yuan, up 18.8%, with exports up 16.4%. Total retail sales of consumer goods were 37,000.1 billion yuan, up 1.1%. Fixed-asset investment fell 7.2% year on year, and real estate development investment fell 20.6%. In the first three quarters, CPI rose 0.9% year on year, and the surveyed urban unemployment rate in September was 5.2%.
Unitree Robotics rose more than 10%, with turnover exceeding 1.5 billion yuan
Market data shows: Unitree Robotics rose more than 10%, with turnover exceeding 1.5 billion yuan.
Data: ZRO, XPL, and other tokens will see large unlocks next week, with ZRO unlock value at about $43.3 million
Token Unlocks data shows that multiple tokens will see large unlocks next week: ZRO will unlock about 23.28 million tokens on October 20 at 19:00 (about $43.3 million); XPL will unlock about 227 million tokens on October 25 at 20:00 (about $17.9 million); H will unlock about 266 million tokens on October 25 at 8:00 (about $15 million); SOSO will unlock about 23.46 million tokens on October 24 at 17:00 (about $6.9 million); SOON will unlock about 20.24 million tokens on October 23 at 16:30 (about $6.3 million); KAITO will unlock about 17.6 million tokens on October 20 at 20:00 (about $5 million); COAI will unlock about 19.55 million tokens on October 25 at 15:00 (about $5 million).
A whale closed a $110 million BTC long position and switched to opening a $45.8 million long position in US stocks
According to monitoring by on-chain analyst Ember, a whale's long position of 1,360 BTC (about $110 million) had a market stop-loss placed at $80,500 that was not triggered. At 4 a.m., BTC briefly fell to $80,684, only $184 away from the stop-loss price, but did not continue to decline. At 5 a.m., the whale closed the BTC long position at $80,949, with a loss of about $3.26 million; it then turned to US stocks and opened a long position worth $45.8 million, with underlying assets including TSLA, DRAM, and SOXL. The liquidation price of this long position is $80,034.
Anthropic releases internal report: AI agent work hours reach six times those of employees, and the share of junior technical hiring shrinks sharply
Anthropic released the report "How employment is changing at Anthropic," showing that as of August this year, the interactive AI agent work hours deployed by employees had reached six times those of humans. The share of junior employees in the company's technical department fell from 21% at the beginning of 2025 to 14%, and the proportion of junior technical hiring dropped from 27% to 9%. The average number of code submissions per engineer increased fivefold compared with half a year earlier, and output in non-technical roles such as sales and legal also rose in tandem. The rollback and deletion rates of AI code are no different from those of manual work. Hiring managers place more emphasis on autonomy and judgment. Human attention has become the bottleneck, and employees are shifting to "meta-work" such as monitoring tools, whose share of interactive sessions rose from 10% to 22%.
A whale withdrew $2.34 million worth of ARB and UNI from a CEX, coinciding with ARB's single-day unlock of more than 90 million tokens
According to Arkham monitoring, whale address 0x204 withdrew about $2.34 million worth of Arbitrum (ARB) and Uniswap (UNI) tokens from Bybit. Arbitrum has just unlocked more than 90 million ARB this week. Despite continued token unlock pressure, the ARB price has still risen sharply recently and has remained at a high level over the past month.