Morning Report | BitMEX faces a claim of 20 million pounds from former investors: accused of providing derivatives to UK users without authorization; New York Federal Reserve President John Williams: AI device supply tightness may last for over two years

Compiled by: ChainCatcher

What important events occurred in the past 24 hours?

Cybersecurity Company Reach Security Completes Over $50 Million Series B Financing

According to ChainCatcher, San Francisco-based cybersecurity company Reach Security announced on October 13, 2026, that it has completed over $50 million in Series B financing, led by Top Tier Capital Partners, with participation from Ballistic Ventures, In-Q-Tel, Microsoft’s venture fund M12, and existing investors.

The funds will be used for product innovation, expanding integration partnerships, international expansion, and growth in the U.S. enterprise and federal markets. At the same time, Reach Everywhere was launched, which integrates security control insights into exposure management, security operations centers, incident response, compliance platforms, and AI security environments through the Reach API, MCP servers, and technology partners.

The company claims its AI reads the real-time configurations of existing security products in enterprises, determines whether exploitation paths are blocked, and points out the specific rules that determine that outcome, allowing for immediate remediation when protection shifts. The article cites VulnCheck stating that less than 1.3% of vulnerabilities were exploited in the wild in the first half of 2026; it also cites CrowdStrike indicating that AI-enabled adversary actions increased by 89%, with the shortest time for attackers to breach being as low as 27 seconds.

In the past 12 months, the number of customers has doubled, including Autodesk, Insurity, MPS, and Ensemble Health Partners. Independent analysis by TAG Infosphere states that organizations using Reach save over 160 hours per week on control reviews, situational assessments, and incident investigations, with a return on investment of 156%.

New York Fed President Williams: AI Device Supply Tightness May Last Over Two Years

According to ChainCatcher, New York Fed President John Williams stated that the supply of AI devices may take more than two years to catch up with demand, which could increase inflationary pressures. He made these comments during an interview with Bloomberg on Tuesday, stating that the construction of AI infrastructure is driving up prices for chips and goods that use chips.

When asked if AI supply and demand would balance out in the next two years, Williams said, "I think it will take longer. Assuming the demand impulse continues as expected, and that is a big assumption." Williams also reiterated his view that the Federal Reserve may need to raise interest rates once more this year to curb inflation. He stated, "I have not changed my view that we may need to raise rates again."

However, regarding 2027, he said, "It remains to be seen," and noted, "At this point, I see no reason to believe we need to do more." He also expects that despite rising interest rates, AI investment will remain strong, as relevant investors are relatively insensitive to price, believing that AI will bring significant productivity gains and economic transformation.

The shortage of AI device supply may affect Bitcoin miners entering the field, as they need to compete for chips and power equipment. IREN signed a new $2.8 billion AI cloud contract in July, while Bitcoin miners face huge financing needs when advancing AI projects, with lenders becoming increasingly selective.

Bitwise CIO Says Q3 Data Points to Crypto Spring

According to ChainCatcher, Bitwise Chief Investment Officer Matt Hougan stated that the third quarter may be one of the best-performing quarters in crypto history, with a significant rebound in prices and sustained growth in the on-chain market, pointing to the beginning of a "crypto spring." The quarterly market review released by Bitwise shows that its large-cap crypto index rose by 46.4% in Q3, while the U.S. spot Bitcoin ETF recorded $6 billion in inflows during the same period, bringing net inflows for the year back into positive territory.

The growth is not limited to token prices. The value of tokenized stocks rose by 65.5% to nearly $3.2 billion, and the open interest in decentralized perpetual contracts reached a new high of nearly $26 billion, with the proportion linked to stocks, commodities, foreign exchange, and pre-IPO shares continuously increasing.

Bitcoin rose by 42.3% in Q3, while Ethereum and Solana increased by 69.1% and 59.2%, respectively, with all ten constituent assets of the large-cap index recording double-digit quarterly gains, led by Chainlink with a 97.6% increase.

The rebound did not cover all sectors of the industry. Bitcoin mining companies Riot Platforms and Hut 8 saw their stock prices drop by 26.4% and 25.4% in Q3, respectively, while Galaxy Digital fell by 16.8%; the number of publicly traded companies holding Bitcoin decreased by nearly 6% to 173, and the number of companies holding Ethereum dropped from 40 to 35.

U.S. SEC Revises Quorum Rules, Crypto Regulation Authority May Concentrate Among Few Commissioners

According to ChainCatcher, the U.S. Securities and Exchange Commission (SEC) released final rules on September 30, adjusting the quorum requirement to allow for a quorum with just one commissioner in most cases; this rule took effect on October 2. The SEC stated that this move aims to enhance the flexibility and finality of institutional rule-making.

Previously, Commissioner Hester Peirce left office earlier this month, leaving only Chairman Paul Atkins and former Acting Chairman Mark Uyeda as commissioners, while the agency's statutory seats are five. The leadership vacancy at the U.S. Commodity Futures Trading Commission (CFTC) is even more pronounced, as since December 2025, Michael Selig has been the only Senate-confirmed chairman and commissioner.

Both agencies were originally intended to have five commissioners. In terms of rule-making, the SEC proposed in August to provide a safe harbor for tokens not to be classified as "investment contracts," and the CFTC followed up in October, with Selig stating that he would use existing statutory authority to advance crypto regulation through proposed rules regarding exchanges; Atkins stated on October 2 that more regulatory proposals would be forthcoming.

The Financial Times published a commentary by Robin Wigglesworth on October 5, pointing out that with only two commissioners, if one needs to recuse themselves or cannot perform their duties, a single commissioner can pass formal rules applicable to a securities market worth trillions of dollars. Uyeda subsequently wrote in the Financial Times responding that the SEC's commitment to its mission has not changed, and that the rule modification merely clarifies that when all but one commissioner must recuse themselves, the committee can still constitute a quorum.

Legendary Investor Paul Tudor Jones: U.S. Stocks Similar to Pre-2000 Bubble, Will Short All Year Next Year

According to ChainCatcher, Paul Tudor Jones, founder of Tudor Investment, stated on CNBC on Tuesday that 2027 will be very difficult for the stock market, as the current supply-demand dynamics in U.S. stocks are the worst since 2002, similar to the period before the internet bubble burst in 1999; he plans to short U.S. stocks all year next year.

His reasoning is that the buybacks and mergers and acquisitions that supported the bull market over the past four years have continued to compress stock supply, but this logic is reversing: large IPOs from companies like Anthropic and OpenAI are imminent, SpaceX's issuance has just been completed, and many companies will also raise funds for AI construction.

He also listed the U.S. fiscal deficit as another major risk, believing that the likelihood of the market being forced to correct is 60 to 40. Regarding crude oil, he holds a long position, believing that the U.S.-Iran conflict is unlikely to be resolved in the short term, and oil prices still have room to rise by $20 to $25.

Anthropic to Disclose Q3 Revenue Today, Pushing for Approximately $2 Trillion IPO

According to ChainCatcher, Anthropic will disclose its third-quarter revenue data to potential institutional investors today at its headquarters in San Francisco to assess investor reactions to its financial performance and IPO plans. The company is reportedly pushing for an IPO valued at approximately $2 trillion, planned for November, having previously submitted a confidential listing application to the U.S. Securities and Exchange Commission, but the specific listing date has yet to be determined.

This disclosure comes at a time when the AI sector is under pressure. Last week, OpenAI updated existing investors with an annualized revenue of $50 billion, lower than the widely circulated $70 billion, raising disputes over revenue accounting standards and dragging down semiconductor stocks and the Nasdaq index.

Broadcom CEO Hock Tan warned that rising interest rates could make capital acquisition capabilities a major constraint on the development of AI companies. The market will be watching whether Anthropic clarifies its revenue recognition standards, especially whether it includes revenue from cloud partners.

U.S. September CPI to Be Released Tonight: Rising Inflation Expectations May Prompt Fed to Restart Rate Hikes

According to ChainCatcher, the U.S. Bureau of Labor Statistics will release the September CPI data tonight at 20:30. Institutions expect the overall CPI year-on-year increase to rise from 3.4% in August to 3.6%, with a month-on-month increase of 0.6%, marking the largest increase in nearly five months, mainly driven by a rebound in energy prices.

Core CPI is expected to rise by 2.5% year-on-year and 0.2% month-on-month, lower than the previous value of 0.3%. This CPI report is the last inflation report before the Federal Reserve's interest rate meeting on October 27-28. CME data shows that the market currently expects a roughly 17% probability of a Fed rate hike in October.

If the month-on-month increase in core CPI reaches 0.3%, it may reinforce expectations for a rate hike this month; if it meets the expectation of 0.2%, the Fed may pause action and delay the rate hike decision until December. Additionally, the U.S. will release PPI data on Thursday, with both CPI and PPI influencing the market's judgment on subsequent inflation trends and the Fed's policy path.

Dating App Bumble to Be Acquired by Ithaca for $1.3 Billion

According to ChainCatcher, dating app Bumble Inc. (NASDAQ: BMBL) announced on October 13, 2026, that it has reached a definitive agreement to be acquired by Ithaca Holdings, a holding company with a long-term stake in technology businesses, in an all-cash transaction valued at $1.3 billion.

Common stock shareholders will receive $6.05 in cash per share of Class A common stock, representing a premium of approximately 138% over the unaffected closing price on October 9, 2026, and a premium of approximately 119% over the volume-weighted average price as of that date. The special committee, with the assistance of independent legal and financial advisors, determined that the transaction is in the best interest of common stock shareholders and recommended the board's approval. The board unanimously approved the transaction, with founder Whitney Wolfe Herd recusing herself from the deliberation and vote.

Blackstone affiliates and Wolfe Herd subsequently approved the transaction in writing, constituting the required shareholder approval; shareholders will receive an information statement in accordance with Delaware law and federal securities law. Upon completion, Ithaca Co-CEO Ravi Gupta and John Hegeman will serve as Co-CEOs of Bumble and collaborate with Wolfe Herd.

Bumble will be privatized, with offices located in London, Austin, and New York City, and is expected to remain based in Austin. The company plans to submit its third-quarter Form 10-Q to the U.S. Securities and Exchange Commission by November 9, 2026, as the transaction will not release performance press releases or hold conference calls.

Avalanche states that Korea's KSD platform will support its ledger, Samsung SDS aims for completion by February 2027

According to ChainCatcher, Avalanche announced on October 13 that Korea's securities depository institution KSD is "building infrastructure connections based on Avalanche" for the Korean securities tokenization market. KSD's technical guidelines confirm that Avalanche is one of several ledger technologies supported by its platform plans; Avalanche's post states that the plan covers issuance, trading, clearing, settlement, and investor rights, ultimately achieving on-chain settlement.

KSD's distributed ledger guidelines (reflecting development as of July 2026) place Avalanche alongside Hyperledger Besu and Hyperledger Fabric, committing to support multiple ledger technologies rather than making Avalanche the sole choice for Korea's securities infrastructure.

The project has moved from the testing phase to the construction phase of the production platform, with Samsung SDS winning the bid to build it, aiming to transition the technology testing platform to a system that supports real transactions and stable operations, with a target completion date of February 2027.

The roadmap released by the Korea Financial Services Commission in September shows that the revised terms recognizing tokenized securities will take effect on February 4, 2027, with the first phase launching in the same month, initially covering private money market funds and bonds for institutional investors, non-listed stocks held through trust structures, and publicly issued fractional investment securities, while the second phase will expand to all publicly issued securities. On-chain payments related to stablecoins belong to the final phase, and the commission remains flexible on the timing for the second and third phases, setting November 11 as the deadline for public consultation on the implementation regulations.

Public company Perpetuals.com plans to launch U.S. stock tokenized trading based on SEC innovation exemption

According to ChainCatcher, as reported by CoinDesk, Nasdaq-listed fintech company Perpetuals.com plans to offer U.S. stock tokenized trading services based on the innovation exemption mechanism introduced by the U.S. Securities and Exchange Commission (SEC). This plan predates the related proposal from the joint venture between OKX and Intercontinental Exchange (ICE).

Perpetuals.com CEO Patrick Gruhn co-founded Digital Assets AG, which developed stock-linked tokens for cryptocurrency exchanges including Binance and FTX, before being acquired by FTX Group.

The related trading could potentially start in mid-November, but the company still needs to complete technical and compliance preparations.

Pan-African bank Ecobank signs memorandum of cooperation with CIPS

According to ChainCatcher, on October 12, pan-African commercial bank Ecobank signed a memorandum of understanding with the Cross-Border Interbank Payment and Settlement Company (CIPS) to strengthen the connectivity of RMB payments between China and Africa. The signing ceremony was witnessed by the Minister of Finance and Budget of the Republic of Togo, coinciding with the official visit of Togo's Prime Minister Victoire Tomegah Dogbé to China.

Ecobank Group CEO Jeremy Awori stated that the cooperation will enhance the connectivity of the Chinese RMB payment ecosystem with Ecobank's African network, aiming to facilitate easier access for Chinese companies to the African market and help African companies participate more effectively in the Chinese market. China is Africa's largest trading partner, with bilateral trade expected to reach approximately $348 billion by 2025.

The cooperation is expected to make RMB payments smoother, reduce settlement complexity, and improve the availability of cross-border payment channels. Ecobank has had a presence in China since 2012 and has officially opened a new office in Beijing, with Chinese business teams in West Africa, Central Africa, and East Africa, providing services such as trade financing, payments, cash management, and cross-border investments.

The group's operations cover 34 sub-Saharan African countries as well as France, the UK, the UAE, and China, with over 14,000 employees serving more than 32 million customers, and recently collaborating with institutions such as Bank of China (Mauritius), XTransfer, YiBao Payment, and Wanlihui.

Philippines' largest crypto exchange Coins.ph reportedly faces central bank regulatory action

According to ChainCatcher, citing two informed sources, the Philippines' largest cryptocurrency exchange Coins.ph is facing punitive action from the Bangko Sentral ng Pilipinas (BSP). The alleged violations reportedly involve providing services to offshore betting companies, with severity sufficient to lead to the revocation of the operating license for the 12-year-old company, with one source stating this could trigger an "earthquake" in the Philippine crypto ecosystem.

Coins.ph has over 18 million customers, with a 24-hour spot trading volume of approximately $50 million, controlling about 75%-80% of the liquidity of pesos and stablecoins in the Philippines. Earlier this month, the BSP reportedly imposed restrictions on deposits made through Coins.ph's main wallet company DCPay Philippines.

Previously, several compliance executives at the exchange left, including Chief Compliance Officer Lexi Herrera, Head of Anti-Money Laundering Transaction Monitoring Chris Beaño, and Money Laundering Reporting Officer Irish Calagui. A year ago, the BSP restricted electronic wallet applications for gambling, requiring regulated entities to cut off access to gambling websites within the apps, leading several betting entities to migrate to Coins.ph.

This restriction is not a temporary measure and no reasons were provided. Coins.ph is one of the earliest crypto wallets and exchanges in the Philippines, acquired in 2019 by Indonesian tech company Gojek for $95 million, and later sold to former Binance CFO Wei Zhou. Neither Coins.ph nor the BSP responded to requests for comments.

Dell family fund plans to acquire SK shares from Chey Tae-won

According to ChainCatcher, the Seoul Economic Daily cited a large shareholding report submitted by SK on October 13, stating that SK Group Chairman Chey Tae-won had previously agreed to sell shares of SK Corporation, with the buyer being a fund related to Michael Dell, the founder of Dell Technologies.

Chey Tae-won signed a contract on October 2 to sell 972,493 shares of SK Corporation common stock, accounting for 1.34% of the total share capital, with the counterparty being DFO Public Investments, L.P., established in Delaware, USA, for an amount of 544 billion Korean won. The fund is managed by DFO Management, which manages the Dell family's assets and was previously MSD Capital, established by Dell in 1998, and restructured into its current structure at the end of 2022.

Chey Tae-won has signed contracts to sell a total of 1,653,924 shares of SK Corporation, with a total consideration of 944 billion Korean won, to raise funds for property division with Nabi Art Center curator Lu Su-ying. Of these, 681,431 shares, accounting for 0.94%, were sold to Korea Investment & Securities, while the remaining 1.34% was sold to the aforementioned strategic investor.

SK previously only disclosed that the buyer was a strategic investor and stated that it could not specify the details of the private transaction. For the shares sold to Korea Investment & Securities, Chey Tae-won signed a three-year equity return swap, settling the difference between the actual disposal price and the agreed benchmark price at maturity, with both the gains from price increases and losses from price decreases borne by Chey Tae-won. Reports indicate that Dell Technologies is an artificial intelligence server and data center infrastructure company, with semiconductor business dealings with SK Hynix.

EasyA achieves $1.1 billion independent valuation, plans direct listing in the first half of 2027

According to ChainCatcher, as reported by CoinDesk, blockchain and AI application development education platform EasyA has achieved an independent valuation of $1.1 billion and plans to go public through a direct listing in the first half of next year. The company has submitted registration documents to the U.S. Securities and Exchange Commission (SEC), but the current valuation does not represent the actual purchase price for investors after the stock begins trading. EasyA stated that its app has over 1.3 million users and is considering issuing tokenized stocks. Meanwhile, the company is expanding its tokenization projects and applications involving AI agents.

U.S. inflation rises across the board, market increases expectations for Fed rate hikes

According to ChainCatcher, driven by the rebound in fuel prices due to the Iran war, the U.S. September unadjusted CPI year-on-year rose to 3.7%, further increasing the cost of living pressure on Americans as the midterm elections approach in November. The unadjusted core CPI year-on-year rose from 2.4% in August to 2.6%.

After the data was released, U.S. Treasury yields jumped, international gold and silver prices plummeted, and the dollar index rose, while the market increased bets on three more rate hikes by the Fed before the end of 2027. The data released by the U.S. Bureau of Labor Statistics marks the first rise in the U.S. inflation rate since May, highlighting that the energy price shocks caused by the Middle East war continue to affect the world's largest economy.

After the outbreak of the war, gasoline and diesel prices soared, then retreated during the summer, but in recent months, as tensions escalated, fuel prices rose again, pushing diesel prices to record highs. U.S. President Trump has been trying to control the impact of rising energy prices. Polls show that dissatisfied voters may turn their discontent towards the Republican Party in the upcoming midterm elections, which will determine control of Congress.

U.S. short-term interest rate futures decline, market increases bets on Fed rate hikes after inflation data release

According to ChainCatcher, U.S. short-term interest rate futures declined, with the market increasing bets on Fed rate hikes after the inflation data was released. The dollar index DXY briefly rose nearly 40 points, currently reported at 102.52. Additionally, the market increased bets on three more rate hikes by the Fed before the end of 2027.

Data: Bitcoin spot ETF saw a total net inflow of $176 million yesterday, with Fidelity's FBTC net inflow of $103 million leading the way.

ChainCatcher reports that, according to SoSoValue data, the total net inflow for Bitcoin spot ETFs is $176 million. The Bitcoin spot ETF with the highest single-day net inflow is Fidelity ETF FBTC, with a single-day net inflow of $103 million, and the historical total net inflow for FBTC has reached $10.618 billion.

Following that is Blackrock ETF IBIT, with a single-day net inflow of $65.8854 million, and the historical total net inflow for IBIT has reached $65.734 billion.

As of the time of writing, the total net asset value of Bitcoin spot ETFs is $106.985 billion, with an ETF net asset ratio (market value compared to the total market value of Bitcoin) of 6.38%, and the historical cumulative net inflow has reached $57.217 billion.

Binance Adds 4 New bStocks Tokenized Securities as Collateral Assets

ChainCatcher reports that Binance will add 4 new bStocks tokens—MongoDB (MDBB), BlackBerry (BBB), Penguin Solutions (PENGB), and ProShares Ultra VIX ETF (UVXYB)—as qualified collateral assets on October 14, 2026, at 20:00, under its full warehouse leverage, unified account model, and unified account professional version. The corresponding bStocks trading pairs will also open for leveraged trading.

Storage Chip Shortage Impacts Mobile Phone Market, Q3 Shipments Hit 14-Year Low

ChainCatcher reports that on October 12, the Financial Associated Press cited market research firm Counterpoint Research, stating that the ongoing construction of artificial intelligence infrastructure continues to squeeze the supply of storage chips, putting cost and supply pressure on consumer electronics. Preliminary data shows that global smartphone shipments in Q3 2026 decreased by 20% year-on-year, reaching the lowest level for the same period since 2012.

The storage chip crisis has impacted the smartphone market for the second consecutive quarter, with rising chip costs pushing up the overall bill of materials costs, leading manufacturers to raise terminal prices. Since 2026, global smartphone retail prices have cumulatively increased by about 20%. Samsung remains the global leader, with its market share rising to 23%, although shipments decreased by 3% year-on-year, marking the largest share increase among major manufacturers.

Apple's share rose to 22%, marking its first time breaking the 20% share in Q3, but shipments decreased year-on-year. The absence of the basic model iPhone 18 this year has resulted in lower channel distribution in the first month of the new product launch compared to last year's iPhone 17 series launch, while the iPhone 18 Pro series performed better than its predecessor in China and India. Xiaomi's Q3 shipments decreased by over 30% year-on-year, with its share dropping to 10%.

Both OPPO and vivo saw their shipments decrease by over 20% year-on-year, with shares falling to 9% and 8%, respectively. Counterpoint senior analyst Shilpi Jain stated that consumers are holding onto their existing devices longer and are considering refurbished devices more. Counterpoint indicated that global smartphone shipments are unlikely to recover significantly before improvements in storage chip costs and supply.

Federal Reserve's Probability of 25 Basis Point Rate Hike in October Reported at 23.8%

ChainCatcher reports that, according to CME's "FedWatch" data, the probability of the Federal Reserve maintaining interest rates in October is 76.2%, while the probability of a 25 basis point rate hike is 23.8%.

Ledger Users Encounter Physical Letter Scams, Forged Notices Requesting Registration of Bitcoin Wallets via ZenLedger

ChainCatcher reports that, according to Bitcoin News monitoring, German Ledger user @jayr_crypto reported receiving forged letters again this week. The letters impersonate Ledger, claiming that new regulations require users to register Bitcoin wallets through a service called ZenLedger by October 31.

The letters use Ledger's official branding elements and mention German financial regulators, while including a QR code that directs users to a so-called mandatory registration process. The user believes that addresses exposed in previous data breaches are being used for targeted attacks against Ledger users.

In the same week, Ledger coordinated with MediaMarktSaturn to suspend sales of its hardware wallets in its European retail network covering 11 countries and over 1,000 stores. Reports previously indicated that malicious spy implants were found in Ledger devices purchased from European retailers.

Ledger also confirmed that damaged devices sold by a Southeast Asian distributor contained implants capable of stealing recovery phrases and transmitting them via cellular networks. Ledger has not confirmed any breaches of European devices. Ledger users currently face physical supply chain tampering and targeted phishing attacks using home addresses. Do not scan suspicious QR codes or enter recovery phrases.

Evernorth Partners with Ripple, Kraken, Coinbase, and BitGo to Deploy $648 Million XRP Treasury

ChainCatcher reports that, according to The Block, Evernorth, which holds an XRP treasury and is listed on Nasdaq, announced that it will begin deploying its XRP holdings through an "institutional strategy" in the fourth quarter, with initial partners including Ripple and cryptocurrency exchanges Kraken, Coinbase, and BitGo. The company currently holds 473 million XRP, valued at approximately $648 million at current prices.

Two days before this announcement, Evernorth began trading on Nasdaq under the code XRPN after completing a deSPAC merger with Armada Acquisition Corp. II. Founder and CEO Asheesh Birla stated that the company is working to make the treasury effective and is choosing to start with strong institutional trading counterparts in the industry.

Evernorth's goal is to generate returns from its XRP holdings and increase the per-share holding amount, rather than simply accumulating, and the announcement did not specify how much XRP will be deployed. The company also plans to expand into lending and on-chain DeFi strategies once relevant features on the XRP Ledger are available. This strategy is led by newly appointed Chief Investment Officer Hugo Jeandesboz, who previously served as co-CIO of Coinbase Asset Management.

Jeandesboz stated that this means a set of treasury strategies, a risk framework, and counterparties that can clearly explain to the public company board. The XRPN stock price has remained relatively stable since opening at $16.68 on Monday, closing at $16.48 on Tuesday, and slightly rising to $16.6 in after-hours trading.

SK Hynix Some HBM4 Back-End Equipment Orders May Be Delayed Until Next Year

ChainCatcher reports that, according to DealSite, storage chip manufacturer SK Hynix is expanding the mass production of the sixth generation of high-bandwidth memory HBM4, but some industry insiders believe that the pace of expansion is slower than expected, and some equipment orders planned for this year may be postponed until next year. Industry insiders noted that some equipment originally scheduled for delivery in the second half of this year is showing signs of delay, and subsequent order plans have not yet been clarified.

An anonymous source indicated that some equipment originally planned for this year may be pushed to next year, and there is no data confirming whether the delivered equipment is operating at full capacity. The investment plans related to HBM4 for next year have not been specifically communicated to some partners, and this year's orders are largely completed, but there are no clear signals of increased or decreased investment. Reports indicate that the direct correlation between equipment investment schedules and product quality issues has not yet been confirmed.

Daxin Securities researcher Liu Henggen believes that concerns about major customers' HBM4 quality issues leading to performance below expectations are excessive; there may have been some problems in the back-end process, but they cannot be regarded as insurmountable risks, and it is not yet time to discuss bad compensation. There are also industry views suggesting that, against the backdrop of rising general memory prices, some HBM investments may shift towards general memory.

SK Hynix plans to prioritize the introduction of DRAM production equipment into the first cleanroom of the Yongin cluster Y1 wafer fab, with the industry expecting the initial production line to adopt the sixth generation 10nm-level 1c process, and the new capacity will be prioritized for general DRAM. There are also opinions that changes in the schedule of some back-end equipment alone are insufficient to determine whether HBM4 mass production is obstructed, as SK Hynix has already supplied HBM4 16-layer samples to major customers.

Anthropic Requests Appeals Court to Reconsider Safety Risk Determination

ChainCatcher reports that on October 14, Jinshi Data reported that AI company Anthropic has requested the federal appeals court in Washington to reconsider the ruling made on September 25. This ruling upheld the Trump administration's decision to classify Anthropic as a supply chain risk enterprise threatening U.S. national security. Anthropic argues that the judge's interpretation of the law is incorrect, allowing the Department of Defense to take action without any prior determination process. The company also claims there is clear evidence that this determination is retaliation for its statements on AI safety issues.

BitMEX Faces £20 Million Claim from Former Investor: Accused of Providing Derivatives to UK Users Without Authorization

ChainCatcher reports that, according to The Guardian, former BitMEX investor Lewis Barber has filed a lawsuit in the UK High Court seeking £20 million in damages, accusing the exchange of providing cryptocurrency derivatives to UK investors without authorization from the Financial Conduct Authority (FCA). Barber claims that he traded derivatives offered by BitMEX between 2018 and 2022 and incurred losses of approximately £20 million in Bitcoin, now seeking the return of the relevant Bitcoin or equivalent compensation.

Metaplanet: Plans to Issue ¥52 Billion Zero-Coupon Convertible Bonds for Share Buyback and Release Pledged Bitcoin

ChainCatcher reports that, according to Metaplanet CEO Simon Gerovich, Metaplanet announced the issuance of ¥52 billion zero-coupon yen convertible bonds maturing in 2031, while simultaneously advancing a share buyback.

Of the raised funds, up to ¥28.3 billion will be used for discounted buybacks of company shares; ¥23.6 billion will be used to repay loans and release Bitcoin previously locked as collateral, to eliminate interest costs and enhance financial flexibility for additional Bitcoin purchases.

Additionally, Simon Gerovich will lend up to 55 million shares of his personal holdings at an annual interest rate of 0.75% to reduce the hedging borrowing costs for institutional investors and optimize bond issuance conditions.

Art Platform NFT Limited Open Sources RWAIX, Plans Pilot in Q1 2027

ChainCatcher news, according to PR Newswire, the NYSE-listed company NFT Limited (stock code MI, formerly known as Takung Art) announced on October 13 in Hong Kong the proposed technical agreement RWAIX, and has open-sourced the reference implementation on GitHub under the MIT license.

The company operates an international online trading platform for artworks and collectibles, stating that the agreement is used for identity verification, content agreement, and delivery confirmation among buyers, sellers, AI agents, and robots, with the existing digital art platform intended as the first real-world scenario. The company claims that internally managed test records show 50 tests passed with no failures, and plans to launch a limited real-world pilot within 90 days after completing an independent security review and other conditions, aiming for the first quarter of 2027.

The reference implementation includes core protocol logic in Node.js, 50 automated test cases with expected outputs, schema and API documentation, as well as a browser demonstration using synthetic data. The company also stated that RWAIX has not yet been integrated into the production environment, and the related timeline may still be adjusted. The existing digital art trading platform is operated by its wholly-owned Hong Kong subsidiary Metaverse Digital Payment Co., Limited.

The pilot intends to first upgrade the consent purchase, delivery, independent verification, payment, and dispute resolution processes of an existing NFT order, using existing banking channels. CEO Yanying Wang stated that the company already has customers, orders, and payments, and plans to verify whether the agreement can be used for real customer orders in the next 90 days.

Robinhood Social Trading Feature Opens to Qualified Users in the U.S., Coming to Legend Desktop

ChainCatcher news, Robinhood announced that its social trading network is now open to all qualified users in the U.S. CEO Vlad Tenev stated on October 13 that this feature is built into the app's information feed, centered around users' trades and performance, allowing users to follow other traders, view shared account activities, and initiate eligible trades directly from posts using the Quick trade feature.

Tenev stated that Robinhood Social is now available to everyone, allowing users to share charts, profits and losses, and portfolio allocations, as well as receive news and company updates. This feature was previously tested starting March 18, initially for 1,000 customers who attended the HOOD Summit, followed by an additional 10,000 in the following weeks.

The early version has provided verified trading posts, daily and yearly profit and loss statistics, and manual order placement from the information feed; news information feed is part of future planned features. Sharing is selective: trades will not be automatically published, and customers can choose which eligible trades to publish, as well as disable trading statistics in their profiles. Access and publishable content are restricted.

Social is only available in the U.S., and Robinhood excludes licensed securities professionals, individuals associated with regulated financial institutions, and the company's own employees. Its help page indicates that futures and multi-leg options trading currently do not meet publishing criteria. Tenev stated that Social will be available on Robinhood's desktop trading platform Legend in the coming weeks.

Ondo Tokenized U.S. Treasury Scale Exceeds $3 Billion, USDY Surpasses BlackRock's BUIDL

ChainCatcher news, Ondo Finance posted on platform X that its tokenized U.S. Treasury scale has reached $3 billion, covering USDY, OUSG, and tokenized U.S. Treasury ETFs, ranking first in the RWA.xyz tokenized U.S. Treasury platform.

Among them, USDY has a scale exceeding $2.3 billion, surpassing BlackRock's BUIDL.

RWA.xyz data shows that currently, USDY's scale is approximately $2.328 billion, BUIDL is about $2.204 billion, and OUSG is around $319 million; the total scale of tokenized U.S. Treasuries is approximately $14.91 billion, with Circle's USYC ranking first among single products at about $2.384 billion.

Meme Popularity Rankings

According to the meme token tracking and analysis platform GMGN market data, as of October 15, 08:00,

The top five popular ETH tokens in the past 24 hours are: ZC, CLAUS, Temo, DOPE, cirBTC

The top five popular Solana tokens in the past 24 hours are: VEIL, DOPE, Altai, SAINDRA, Coca Cola

The top five popular Base tokens in the past 24 hours are: XDP, Basecat, VVV, PROS, DRV

What are the noteworthy articles to read in the past 24 hours?

Federal Reserve's Third-in-Command Williams: Another Rate Hike Possible This Year, No Need for Hikes in 2027

Williams: Well, you can imagine from this conversation that I have a lot of things in my daily work, economic and monetary policy. This is my 100% focus. Besides all the things we do at the New York Fed in executing monetary policy and other responsibilities, I absolutely love this job. I have always enjoyed working with the people I work with. So when I started here in June 2018, my intention was to serve my full term and continue doing so, that’s my attitude. I’m not thinking about the next step.

Bloomberg: To clarify, the full term is 10 years after June 2018.

Williams: Again, when I took this job, that was my understanding. That’s my commitment to the bank's board, and it was my commitment when my family moved to New York that we would be here for 10 years.

Federal Reserve Governor Bowman: Does Not Believe the Fed Urgently Needs to Raise Rates, Can Observe Economic Trends

She also called for a "comprehensive restructuring" of the Fed's internal regulatory system to improve regulatory effectiveness and enhance accountability. This call stems from her commissioning of a special review of the Silicon Valley Bank's collapse in 2023.

AI and Data Centers: New Topics in Bank Regulation. Bowman also expressed concerns about the impact of artificial intelligence on financial regulation. She stated that cutting-edge AI models pose cybersecurity risks to critical infrastructure, which is a topic that needs serious consideration at the regulatory level.

At the same time, she pointed out that the capital demands arising from data center construction are also worth attention. She said, "We must consider where this funding comes from," emphasizing the need to ensure sufficient capital to support future economic development. Nevertheless, Bowman still stated that it is equally important to allow banks to participate in innovation. The Fed is exploring how to integrate AI into the regulatory framework, including assessing how banks use AI and the potential applications of AI in fraud detection and other areas…

Bridgewater's Dalio Warns: U.S. Treasury Bear Market "Far from Over," Supply-Demand Imbalance Risks Continue to Accumulate

Dalio also issued a warning regarding the stock market. He pointed out that over the past year, companies have shifted from being net buyers to net sellers (financing parties) in the stock market, with the scale of equity issuance in the first half of 2026 reaching an annualized $1.8 trillion, primarily driven by the AI construction wave. He expects that the pressure for equity financing through IPOs, secondary offerings, and private placements will continue.

Dalio concluded that "the supply of financial assets (including debt and equity) seems to far exceed the amount that demand can absorb."

He noted that the current market is in the middle of a cycle after a significant rise in interest rates, but has not yet led to a significant decline in the stock market and risk assets; interest rates will continue to rise until the supply-demand imbalance begins to narrow, at which point interest rate-sensitive markets and economic sectors will be the first to come under pressure.

Bybit CEO Reveals Move to Next Phase, Expanding Business Development Beyond Cryptocurrency "New Financial Platform"

Watch the full keynote speech here. About Bybit. Bybit is a new financial platform. We believe that everyone should have the right to access global financial opportunities. That’s why we are building the first smart platform that connects every person from anywhere in the world to global finance. Bybit has gained the trust of over 80 million users worldwide, integrating investment, trading, payments, and wealth enhancement into a secure and intelligent ecosystem. By combining AI-driven technology, deep global liquidity, robust security guarantees, and transparent operations, Bybit makes global finance more inclusive and efficient, empowering everyone.

Built for everyone. Driven by intelligence. Open to the world. Bybit has not obtained a license, approval, or regulation from the Hong Kong Securities and Futures Commission. Services are not offered to Hong Kong residents.

Stripe's Next Move: Building a Foundation for AI Payments

The future mature Agentic Payment will likely not be "giving AI a card and letting it run free."

It is more likely to be something else: users first define goals and boundaries, the Agent is responsible for searching, comparing, and executing, while wallets and payment networks are responsible for checking amounts, merchants, times, and purposes at the last moment; if an error occurs, there will be a clear refund, dispute, and responsibility chain.

On the big screen in Shanghai, this looks just like a smooth flight booking. But what Stripe really wants to sell is why this transaction can be confidently approved. The content of this article is merely personal observation and thought, and does not constitute any investment or business advice. Readers are advised to rationally reference their own understanding and information sources.

Securing a16z's Third Round of Investment, Valued at $2.25 Billion, Story Ultimately Acquired by Sui for $30 Million

Looking at a larger scope, Story's situation is not uncommon. According to DefiLlama chain fee data, as of October 14, among 560 blockchains, 400 had zero fees in the past 24 hours, and 449 had fees of less than $10, with only 5 exceeding $100,000 in daily fees. On this list, DATA is not at the bottom, yet it is also difficult to cover the costs of maintaining an independent public chain.

Story may not be the last project to surrender its public chain. For DATA, migrating to Sui addresses the cost issue, while whether the third rebirth can be established still depends on whether there are truly willing AI companies to pay for this data.

The Truth About Stablecoin Cards: No Savings, Can't Disrupt Visa

Additionally, it should be noted that in the related articles about Stripe, we mentioned that stablecoins can indeed reduce the cost of cross-border payments by eliminating multiple layers of intermediaries, and this argument holds. However, it is important to distinguish the scenarios; the core pain points of cross-border payments are foreign exchange conversion and multiple intermediaries, while domestic consumption has a completely different fee structure. The industry directly applies the validated logic of cross-border payments to domestic consumption scenarios, which does not align with the actual cost structure.

The logic of stablecoins empowering cross-border payments is very solid, but once applied to domestic consumption, after sorting out the flow of transaction fees, it becomes clear that this narrative is difficult to establish.

What can stablecoins ultimately replace? Objectively speaking, the answer is the clearing and settlement processes as well as cross-border foreign exchange conversion. It transforms the underlying funding channels behind transactions. However, the largest source of cost in domestic card transactions has never been on the settlement infrastructure.

Legendary Investor Paul Tudor Jones: Current U.S. Stock Market is Similar to the Eve of the 2000 Dot-Com Bubble Burst, I Will Short All Year Next Year

I am long on crude oil… bullish on crude oil… I believe it can rise another 20 to 25 dollars. If anything were to happen to ease the situation, it would have happened long before the midterm elections. West Texas Intermediate crude futures were trading at about 92.50 dollars per barrel on Tuesday morning. If oil prices rise another 20 to 25 dollars, it will break the previous closing high of about 113 dollars per barrel in 2026.

Jones pointed out that earlier this year, the stock market's tolerance for rising oil prices was acceptable—after the outbreak of the U.S.-Iran war on February 28, the S&P 500 index's maximum decline was just over 7%. But he warned that if oil prices rise significantly again, the stock market will "completely and utterly detest it."

In terms of geopolitical direction, Jones believes that Trump will seek to promote peace after the midterm elections. I assume the president has a plan after the election because the current situation is clearly unsustainable.