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first_img OKX launches public testing for on-chain spot and perpetual contracts, simulating traditional financial market trading

According to The Defiant, OKX announced the launch of the Onchain Spot and Perps public beta within its app. Qualified users can use free points (XP) to simulate trading in stock, index, and commodity markets, preparing for subsequent real fund trading. This simulated trading competition shares a prize pool of 250,000 USDT with Outcomes Season 3, running from October 14, 22:00 EST to November 14, 11:00. XP points have no cash value and cannot be withdrawn, transferred between accounts, or exchanged for financial instruments.The first simulated markets include gold, S&P 500 ETF, SpaceX, and Nvidia themes, with separate trading pairs for spot and perpetual contracts. Participants are testing trading strategies rather than purchasing shares of the aforementioned companies. OKX's product announcement indicates that qualified customers come from Southeast Asia, Northeast Asia, the Commonwealth of Independent States, as well as the Middle East and North Africa; users must complete identity verification and use a passkey to open a dedicated on-chain account through their existing OKX account.The trading venue operates on Exchange OS built on X Layer, and OKX refers to this account as self-custodial, supporting a unified balance between spot, perpetual contracts, and Outcomes. The spot and perpetual markets share margin, eliminating the need for internal transfers between product accounts.OKX stated that after the competition ends, real fund trading will be opened, allowing users to fund their on-chain accounts from their OKX exchange accounts, with spot and perpetual contracts settled on-chain in USDS. The activity XP and positions will not convert to real fund positions.

first_img The perpetual contract platform StandX announced that it will gradually cease operations and conduct a one-time DUSD airdrop for the community

The perpetual contract platform StandX announced a one-time DUSD airdrop to the community, where users can claim the full amount with no lock-up. The distribution criteria include pre-deposits, Alpha, mainnet trading, market making, and referral activities. All amounts must pass anti-whale and volume manipulation checks, and amounts for abnormal accounts may be adjusted or canceled. StandX also stated that it has decided not to issue tokens, and the airdrop funds come from the project's remaining income and additional contributions from the team.StandX stated that after the mainnet goes live in November 2025, it has served over 237,000 users, with a peak TVL exceeding $200 million, and no security incidents have occurred during its operation. Airdrop inquiries will open on October 26 at 00:00 (UTC), with the claiming period from November 1 at 00:00 to December 31 at 08:00 (UTC). Claims not made within this period will be considered forfeited. Users must use the BNB Chain or Solana wallet address used on StandX to claim.StandX also announced that it will gradually cease operations after assessing business and market conditions. From October 15, all types of earnings will stop, and new deposits to the treasury will be closed. From October 20, perpetual contracts will enter a mode of only reducing positions. All remaining positions will be liquidated at the marked price on January 15, 2027, and January 31, 2027, will be the deadline for DUSD redemption and asset withdrawal. The official reminder is to claim the airdrop only through standx.com.

Analyst Murphy: The swing chips are gradually being cleared, Bitcoin has retraced three times near $81,000

Analyst Murphy posted on platform X, stating that as of October 15, 2026, Bitcoin has fallen to around $81,000 on October 9, 12, and 15, repeatedly testing the same support area. The latest round of declines, combined with U.S. inflation exceeding expectations, rising market concerns about the Federal Reserve tightening monetary policy further, and weakening U.S. stocks, has put overall pressure on risk assets.Murphy noted that from the on-chain adjusted realized loss data, the scale of losses corresponding to the three dips shows a decreasing trend: the loss on October 12 was less than that on October 9, and while the loss on October 15 was larger than on October 12, it was still lower than on October 9. October 9 appears to be a peak where short-term price-sensitive chips concentrated their exit; during the second dip, market sentiment was more cautious, and the willingness to sell was not strong; the third decline, under macroeconomic negative influences, again forced some swing chips to stop-loss and exit. Therefore, the current market is closer to a gradual clearing of swing chips rather than a full-blown panic sell-off. If the proportion of short-term holders' losses remains around 31%, below the historical cumulative average of 42.7%, it indicates that the clearing of chips may not be sufficient, and further volatility and selling pressure may still occur. Next, it should be observed whether the scale of realized losses continues to converge: if the price maintains near the current support area and the release of losses gradually weakens, it indicates that passive selling is decreasing, and a phase adjustment may be nearing its end; if the scale of losses expands significantly again, it indicates that the market still needs to undergo a more thorough turnover of chips.

first_img The U.S. Department of Justice arrested two people and seized 187 devices to crack down on North Korean notebook farms

On October 13, the U.S. Department of Justice announced the arrest of two Americans in an operation targeting North Korean IT personnel who entered U.S. companies under false identities, and the seizure of approximately 187 computer devices. Michael James Bostelle from Pennsylvania and Juan Cecilio Pena Carrillo from Texas were arrested based on an indictment from the Northern District of Ohio Federal Court. Prosecutors allege that the scheme involved over 70 U.S. employers, generating approximately $3 million in revenue for overseas IT personnel. The two are charged with conspiracy to commit wire and mail fraud, conspiracy to commit money laundering, and conspiracy to commit identity theft, with Pena additionally charged with aggravated identity theft.The device seizure operation is part of "Operation Lone Star," coordinated by federal law enforcement in the Northern District of Texas. From September 21 to 25, the FBI executed searches at over 40 suspected "laptop farm" residences in Texas, seizing devices including laptops and keyboards, video, and mouse equipment for remote access. According to the Ohio indictment, domestic accomplices received laptops issued by employers at home and then allowed overseas personnel to control them via remote access software or hardware, making it appear as if they were located in the U.S. and accessing company systems, while the accomplices received salaries and transferred funds overseas.The indictment mentions cryptocurrency as one of the means for transferring funds overseas. Trey Michael Nolte, a resident of Ohio, is listed as a co-conspirator but has not been charged in this case; the indictment states that in a conversation on July 8, 2024, he described managing transfers between bank accounts and virtual currencies using spreadsheets, subsequently transferring funds to the defendant Sun Sheng Ming;
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