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According to Beating AI's news, a summary of an expert interview circulating in the investment community states that the next-generation foundational model of the artificial intelligence company Zhipu is not the previously rumored 1.6 trillion parameters, but rather between 2.5 trillion and 3.5 trillion parameters. The GLM-5.3 released by Zhipu in August this year still uses the previous generation foundational model, with a total of approximately 744 billion parameters; if the information is true, the new foundational model's scale is about 3.4 to 4.7 times that of the current one.The summary also states that the training has not gone smoothly, as Zhipu adopted a more aggressive model architecture, and during the pre-training period, there was a time when the loss did not decrease, meaning that computational power was continuously invested but training metrics could not continue to improve. The interviewee believes that the problem should have been resolved recently, and training is expected to be completed soon, predicting that the new model can reach flagship levels comparable to Claude Fable.The summary further mentions that the new model has taken inference speed and cost as hard constraints from the architectural design stage, with the goal of being able to provide services on a large scale from the first day of release. At the same time, multiple cloud vendors are negotiating revenue sharing to address the issue of large models being produced but not being able to supply.

According to Caixin, Liu Jun, President of the Industrial and Commercial Bank of China, stated at the first Digital Renminbi Annual Conference held during the 2026 Financial Street Forum Annual Meeting that while digital technology promotes the development of the digital economy, it also brings changes to the currency trust mechanism. Data, algorithms, and programmability are beginning to participate in the generation and transmission of credit, with trust shifting from being supported by institutional singular points to being jointly supported by institutions and technology. However, technology can only reinforce trust, not replace it.Liu Jun mentioned that whether digital currency can become a currency is not primarily about the algorithm design itself, but rather about how credit is supported and fulfilled, and how responsibility is implemented. He pointed out that currency is transitioning from physical forms to data, moving from multi-step clearing reliant on accounts and intermediaries to synchronous payment and settlement. The way currency is realized is changing, but its attributes remain the same, still fulfilling the three functions of a medium of exchange, a store of value, and a unit of account.

The famous trader and chart analyst Peter Brandt, who successfully predicted the Bitcoin crash in 2018, released a technical chart for XMR (Monero), indicating that the current Monero pattern is very similar to the pattern of silver before it surged to $125, potentially brewing a similar large-scale upward trend.In the monthly chart of XMR he published, after a long period of consolidation, the price repeatedly tests/breaks through the key resistance (approximately in the 500--600 range), and the moving average structure is also starting to strengthen.

According to CoinGecko data, Upbit's trading volume in the past 24 hours was approximately $997 million, an increase of about 63.5% compared to the previous 24 hours.The top five trading pairs by trading volume are: DOOD/KRW (Doodles, accounting for 10.33% of the trading volume, with a transaction amount of approximately $10.3 million); MPLX/KRW (Metaplex, accounting for 8.45% of the trading volume, with a transaction amount of approximately $8.436 million); XRP/KRW (accounting for 7.46% of the trading volume, with a transaction amount of approximately $7.45 million); BTC/KRW (accounting for 5.66% of the trading volume, with a transaction amount of approximately $5.648 million); USDT/KRW (accounting for 4.98% of the trading volume, with a transaction amount of approximately $4.976 million).

U.S. Secretary of State Rubio defended the Trump administration's support for Ukraine, stating that without U.S. support, Ukraine would no longer exist.He responded to questions regarding a report from The Wall Street Journal and stated that the U.S. cannot control the disposal of products by private enterprises. Rubio revealed that a U.S. envoy will engage in difficult negotiations with Russia in St. Petersburg, focusing on the fate of the Donbas region.

Ripple's brokerage business Ripple Prime (formerly Hidden Road) announced that institutional clients can now trade swap contracts linked to over 100 stocks, commodities, and foreign exchange markets around the clock, using the USD stablecoin RLUSD issued by Ripple as collateral. These swap contracts track perpetual futures listed on the cryptocurrency derivatives exchange Hyperliquid by Trade.xyz, which have no expiration date and can be traded 24/7, allowing funds to build positions in assets like gold while traditional markets are closed. Ripple announced on October 15 that trading company Virtu is already using this service.HSBC's head of digital asset research, Daragh Maher, stated in a report sent to clients on Monday that this launch is "evolution rather than revolution." He wrote that it is a rapidly growing market but still far smaller than the traditional financial markets it tracks, and the product's appeal will be stronger only when the market has sufficient depth, allowing investors to express views and adjust risks while traditional markets are closed. HSBC expects early activity to focus on market makers, proprietary traders, and hedge funds seeking basis trading, rather than institutions looking for strategic hedging.The risks of weekend trading have already become apparent. Last Saturday, approximately $52 million in leveraged chip stock positions were forcibly liquidated within 10 minutes, with the sell-off spreading from Binance to Hyperliquid, while the underlying stocks were not trading, and the contracts lacked new stock market prices for reference. HSBC stated that Ripple's success depends on whether the service is cheaper, simpler, and can better utilize client collateral compared to existing brokers. The new swap business is offered under Ripple Prime's British Virgin Islands license, with plans to expand to more jurisdictions in the future.

According to Lookonchain monitoring, in the past 15 hours, 2 whales went long on a total of 29,798 ZEC with 10x leverage, worth 37.57 million USD.

According to Jinshi News, former Executive Director of the Bank of Japan, Eiji Maeda, stated that the next interest rate hike is expected to occur in December, followed by another increase in March or April.Eiji Maeda mentioned that the current pace of interest rate hikes has accelerated to approximately once every three months, and he believes this pace is appropriate.

According to Bloomberg, the French AI business planning software company Pigment announced the completion of a $250 million financing round, with a valuation of $2.3 billion. This round of financing was led by Scaleup Europe Fund, with participation from Nvidia, World Innovation Lab, Iconiq, IVP, and Meritech Capital.CEO Eléonore Crespo stated that the company plans to bring in Asian investors and accelerate its business expansion in Asia. Pigment was founded in 2019 and primarily provides a financial and business planning platform for enterprises, launching intelligent AI features, with its annual recurring revenue (ARR) surpassing $100 million.

Solana's largest network upgrade since 2020, Alpenglow, officially launched on Wednesday. This upgrade moves validator voting from on-chain to off-chain, packaging votes into certificates that can lock transactions within one to two rounds, aiming to reduce the final confirmation time for transactions from about 6 seconds to approximately 150 milliseconds, speeding it up by about 40 times. If this goal is achieved on the mainnet, Solana's transaction settlement speed will be faster than the blink of an eye, bringing it closer to the trading and payment experience of centralized exchanges.Currently, a 6-second confirmation time means that prices may change before the transaction is locked, causing exchanges and payment applications to wait before considering deposits as complete. In comparison, Ethereum takes about 13 minutes to achieve full final confirmation. At the same time, validator costs are expected to decrease by about 60%: currently, validators spend about 2 SOL daily on voting fees, which doubled after Solana recently reduced block time to about 200 milliseconds; Alpenglow eliminates voting fees, replacing them with a fixed validator entry fee of 0.8 SOL per epoch (approximately 24 hours).The upgrade launch process was not smooth. The testnet has been cleared and restarted from scratch six times since its launch in early May, with one migration failing across the entire network and having to be rolled back. According to an article published by Galaxy Digital, one of about 100 validator operators on the testnet, a subsequent migration was successfully completed, clearing the way for Wednesday's launch. Since these events occurred on a network built specifically for testing, there was no risk to real funds. The upgrade was scheduled to switch at the start of epoch 1064 on Wednesday, with actual changes occurring at slot 459,653,000 after a transition of 5,000 slots.

Bitcoin has been trapped in the range of $80,000 to $84,000 for the past two weeks. Huobi HTX's chief analyst Cloud believes that this is essentially a balance of two opposing forces: ETFs have seen a net outflow for two consecutive weeks, while exchange holdings continue to flow out, and long-term holders are only moderately cashing out. In the week leading up to the Federal Reserve's interest rate decision, Bitcoin is likely to continue waiting in this range. The CME has only priced in a 16% chance of a rate hike in October, while economists generally believe it is close to a 50-50 chance. This discrepancy in pricing and opinions will make funds hesitant to bet in advance.If a direction is chosen in advance, the possibility of a downward test is slightly higher: the funding rate remains high, and the options skew continues to lean towards puts, indicating that bulls have not yet cleared out, and the demand for downside protection is still increasing. However, there has been effective support formed multiple times below $80,000 in the past month, making a downward breakout more likely to be a false breakout.Confirmation signals for a breakout are divided into two groups: for an upward breakout, the daily close needs to be above $84,200, with a cumulative net inflow of over $500 million into ETFs for three consecutive days, and the funding rate not exceeding 15%; for a downward breakout, it must fall below $79,800, with a single-week ETF outflow exceeding $500 million, while exchange funds turn into net inflows. The true source of direction will come from the interest rate decision announced at midnight on October 29, Beijing time, and the nearly 89% pricing for a rate hike in December.Note: The content of this article is not investment advice and does not constitute any offer, solicitation, or recommendation for any investment products.

Global cryptocurrency payment company MoonPay announced that it is advancing strategic cooperation with Dunamu, the parent company of South Korea's largest cryptocurrency exchange Upbit, to jointly explore new business opportunities. The two parties will collaborate to discover new business directions in areas such as stablecoin cross-border payments and capital flow, corporate finance, and fund management.They also plan to expand the global accessibility of Dunamu's Ethereum Layer 2 network GIWA and enhance the network's global connectivity. Specifically, both parties hope to connect MoonPay's global services and network with Dunamu's blockchain infrastructure to expand the coverage of GIWA-based products and services in overseas markets.Dunamu is the operator of South Korea's largest cryptocurrency exchange Upbit and is currently advancing a stock swap merger with tech giant Naver Financial to launch a joint stablecoin and payment service. Earlier this year, Hana Bank acquired a 6.55% stake in Dunamu for 1 trillion won (approximately 755.6 million USD) to advance its layout in the stablecoin and digital asset fields. South Korea is also formulating a comprehensive cryptocurrency framework called the "Basic Law on Digital Assets," which includes rules for the issuance and distribution of stablecoins pegged to the Korean won.

According to a report by Xinhua News Agency, the Digital Renminbi Operation Management Center has publicly announced the digital renminbi infrastructure service system and launched two core achievements.The two core achievements are the Central Bank Digital Currency System (DCEPS) and the Digital Renminbi Smart Contract Ecological Service Framework (e-CNY SMART Contract).

According to the New York Post, Brad Gerstner, founder and CEO of investment firm Altimeter Capital and promoter of the Trump account plan, stated that he is pushing to expand the scope of the plan from those under 18 to those under 40. Related legislation may advance in the coming months and seeks to make the funding support mechanism permanent.Gerstner expects that by the end of 2027, private donations received by the plan could total $100 billion, and Musk's commitment to donate SpaceX stock to American children is just "the tip of the iceberg." Bloomberg ETF analyst Eric Balchunas estimated while relaying the report that the expansion could additionally cover about 100 million people. Currently, the expansion remains a legislative proposal in progress and is not an enacted policy.

According to the British Daily Mail, 48-year-old Hok Seng Ling has returned £5.6 million to the UK government. He was ordered by the court to hand over the aforementioned funds after admitting to involvement in the largest money laundering case in British history, which involved £5.5 billion.Ling previously served as the butler for Qian Zhimin. Qian Zhimin orchestrated a Ponzi scheme that defrauded over 128,000 Chinese investors between 2014 and 2017, subsequently converting the proceeds into Bitcoin and fleeing to the UK. Malaysian-born Ling resides in Matlock, Derbyshire, UK, assisting the Bitcoin queen in laundering illegal proceeds and helping her evade the UK police through methods such as booking Airbnb and arranging assistance.Last November, Ling was sentenced to 4 years and 11 months in prison after admitting to money laundering-related offenses at Southwark Crown Court in London. Following this, the judge issued a confiscation order requiring him to hand over £5,603,305, most of which came from cryptocurrencies seized at the time of his arrest. The aforementioned amount has been fully recovered, along with an additional £1,990 in interest.

Seventeen-year-old Kimi former researcher Chen Guangyu has been reported to join Discovery Loop, an AI company founded by former Google chief scientist Jeff Dean. On October 20, the anonymous account Arfur Grok, which tracks the movement of AI talent in Silicon Valley, disclosed this news. Chen Guangyu had just announced his departure from Kimi five days prior, where he was involved in research on Attention Residuals architecture and the development of Kimi K3.Discovery Loop was established in August of this year, co-founded by Jeff Dean and three other Google veterans. The company plans to enable AI to autonomously propose research hypotheses, run thousands of experiments in parallel, and adjust plans based on results, initially focusing on AI model development, with future expansion into fields such as healthcare, materials, and energy. Google's parent company Alphabet is one of its founding investors, and the company has yet to launch any public products. Business Insider reported in September that Discovery Loop is seeking funding at a valuation of about $50 billion.Previously, Silicon Valley investor Deedy Das mentioned a 17-year-old who received five job offers in the million-dollar range in AI. There was speculation that it was Chen Guangyu, but Deedy never publicly disclosed the individual's identity.

According to on-chain analysts' monitoring, a certain address withdrew 3,000 ETH from Gemini nine years ago, valued at $56,400 at that time, with an acquisition cost as low as $18.82.The address has held the assets for many years, until it began to gradually deposit to exchanges starting in August 2025, with the last deposit of 1,000 ETH made 9 hours ago, at an average deposit price of $2,874.17. If sold, it would yield a profit of $8.566 million, with a return rate of 151.7 times.

According to Jiemian News, the autonomous driving technology company Neolix has officially completed a new round of financing of nearly $400 million. So far, Neolix's total financing amount has exceeded 10 billion yuan, making it the leader in the unmanned delivery vehicle industry in terms of financing scale.Insiders in the investment circle revealed that Boyu Capital and the National Artificial Intelligence Industry Investment Fund are the lead investors in this round of financing. Alibaba AEF NextGen Hong Kong Fund, Monolith Lisi Capital, Vertex Growth under Temasek, and GAC Capital participated in the investment, while existing shareholders such as UAE Stone Venture, Xincheng Capital, SoftBank Asia, Yizhuang Guotou, and Gao Rong Venture Capital continued to increase their holdings.The National Artificial Intelligence Industry Investment Fund was established with contributions from the National Big Fund Phase III. Previously, its investment focus was concentrated on AI and computing power chips, high-bandwidth memory chips (HBM), large model algorithms, embodied intelligent robots, AI security, and other fields. It has invested in leading companies in key areas of artificial intelligence such as Kimi, DeepSeek (general large model), Muxi (AI computing power chip), Galaxy General (embodied intelligence), and Changting Technology (AI security).