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According to CoinDesk, the Swedish central bank is pushing lawmakers to reconsider the necessity of issuing an electronic krona (e-krona), believing that with the development of foreign stablecoins and the digital euro, the use of the Swedish krona in the payment system may face long-term pressure.Per Jansson, the Deputy Governor of the Swedish central bank, stated that if cash becomes further digitized and the Swedish krona lacks a convenient digital form, the local currency may struggle to compete with digital payment tools that can be used across borders. Although the central bank has not yet decided whether to officially issue an electronic krona, it hopes to initiate preparations at the legislative level as soon as possible, as the related institutional and technical work is expected to take at least 5 years.

As the sell-off of technology stocks intensifies, investors are returning to the bond market in search of safety. An indicator measuring the "inverse relationship" between U.S. Treasuries and AI-related stocks has risen back to levels seen a year ago. Nomura Holdings strategists stated that the market is reassessing the likelihood of a "growth panic" in the U.S. based on the "reset" of the AI boom.

The global bond market is experiencing heightened risk aversion due to the sell-off of artificial intelligence-related stocks and escalating geopolitical tensions. The spread of high-rated Asian corporate dollar bonds has risen to its highest level since July last year, and the global corporate bond yield premium has surged to 129 basis points.Concerns about the pace of spending related to artificial intelligence have triggered turmoil, with Castle Securities CEO Griffin warning of bubble risks, while Blackstone President Jon Gray believes market demand remains strong.

Elon Musk warned that he would retaliate if the Democrats control the U.S. Congress and investigate him and his companies. Musk stated that he would directly target the puppet masters, rather than the puppets. His companies include Tesla and SpaceX, which have business dealings with the federal government and may be scrutinized if the Democrats control Congress.

The Iranian Revolutionary Guard Navy stated that if the United States continues to encourage ships to cross areas planted with mines, Iran's countermeasures may expand to U.S. bases in the region.

SpaceX's net profit for the third quarter reached 4.4 billion USD, far exceeding market expectations of 1.88 billion USD, with revenue growing by 161% year-on-year. Although the stock price rose by 12.4% at one point, concerns in the market about the company's future debt expansion intensified. The bond spread for SpaceX maturing in 2046 widened to 264 basis points, and the price of five-year credit default swaps rose to 232.6 basis points.Chief Financial Officer Brett Johnson stated that the company will continue to invest in the superintelligence department's computing power and Starlink business, and is negotiating financing with multiple sources of debt capital.

Galaxy Research Research Director Alex Thorn stated that since the second half of October, Bitcoin returns have been primarily driven by the Asian trading session, while the European trading session has dragged down overall performance.The chart he shared shows that as of October 20, calculated from October 1, the cumulative return of Bitcoin during the Asian trading session was 3.9%, 1.1% during the U.S. trading session, and -5.5% during the European trading session; the return for buying and holding all day during the same period was -0.7%.

S&P Global warns that six major tech companies, including Amazon, Microsoft, Alphabet, Oracle, Meta, and SpaceX, may have actual debts and contingent liabilities related to AI infrastructure that exceed the levels reflected in public data.S&P expects that these six companies will spend more than $7 trillion on capital expenditures for data centers and other AI projects from 2025 to 2030, and will maintain negative free cash flow at least until next year. The rating agency has not yet broadly downgraded credit ratings as a result, but believes the biggest risk is that expected profits may not materialize after the massive investments are completed.

Anthropic recently submitted a draft AI safety bill to U.S. lawmakers, which has been questioned by U.S. AI safety advocates. The draft sets a high threshold for the government to urgently halt dangerous models, requiring that risks involve scenarios such as biological weapons, cyberattacks, or AI going out of control, and potentially causing more than 50 deaths or serious injuries, or losses exceeding $1 billion; some provisions may also limit state government regulatory authority.Nathan Calvin, the strategic head of the AI safety organization Encode, subsequently compiled Anthropic's decisions over the past year. In February of this year, the company modified its previously strict safety policy: it had previously committed to pausing training or releases if safety measures did not keep pace with model capabilities, but the new policy no longer requires the company to independently halt R&D at higher risk stages, citing that competitors might take advantage of the opportunity. During the same period, the company invested heavily in computing power, formed a chip team, and allowed Claude to take on more AI R&D tasks.On October 21, Anthropic CEO Dario Amodei posted a lengthy rebuttal on X. He acknowledged that the company had made some mistakes but insisted that competing for cutting-edge AI capabilities did not violate its safety mission, stating that the company adheres to a race-to-the-top approach, believing that only by staying at the forefront of technology can it drive the industry to raise safety standards. He listed nine safety decisions that had cost the company commercially, including restricting the Mythos-level model's open access for months and strictly limiting biology-related requests. The safety roadmap updated by the company on October 19 states that existing policies mainly target the deployment of dangerous models, and in the future, it may be necessary to directly limit the speed of R&D, with plans to propose relevant policy options by January 15, 2027, or explain why none were proposed.

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 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.

J.P. Morgan Asset Management has first included Bitcoin in its long-term capital market expectations, forecasting an annualized return of about 10% for Bitcoin over the next decade, which is expected to outperform stocks, bonds, and gold. However, this prediction also assumes that Bitcoin's annualized volatility could reach as high as 55%, more than three times that of U.S. large-cap stocks.J.P. Morgan believes that the gradual improvement of the regulatory framework, along with the continuous enhancement of market liquidity and price discovery mechanisms, may further promote Bitcoin's recognition in traditional financial markets. Looking ahead to the next decade, technological innovations in fields such as artificial intelligence, robotics, healthcare, and space, as well as a global capital expenditure growth of approximately $15 trillion, are also expected to drive economic growth and asset returns. Analysts point out that the correlation between Bitcoin and other assets is unstable, making it currently unsuitable as a diversification asset in balanced investment portfolios; therefore, the institution has not yet included it in its main investment portfolio model. If Bitcoin's volatility continues to decline in the future and its correlation with other assets stabilizes, its portfolio allocation value is expected to increase.

Dmitry Gusakov, the engineering lead of the Ethereum liquid staking protocol Lido, warned at the developer conference ACDC #189 that the one-time builder access mechanism introduced by the Glamsterdam upgrade could interfere with the existing deposit protection logic of the staking protocol, leading to the hijacking of staking deposits. This issue involves multiple deposits sharing the same validator public key.According to Ethereum's current deposit rules, the first valid deposit determines the withdrawal credential, and staking protocols typically leverage this feature to prevent credential manipulation, such as initially depositing a small amount of ETH and then topping up the remaining funds once the expected credential appears. However, the special access mechanism introduced for builders by Glamsterdam may change the interpretation of subsequent pending deposits under the same public key during the fork transition period, putting the staking protocol at risk of a third outcome: the validator does not appear, and the deposited ETH is credited to the builder.Lido's proposed fix is to maintain the distinction between validator deposits and builder deposits during the one-time access process. However, core developers rejected this modification on the grounds of timing, mainly because the Sepolia testnet has already been activated according to existing specifications, and the Hoodi client version is also in preparation. Changing the behavior at this point could require redeploying Sepolia and conducting additional testing. The issue affects the access process during the fork transition period, rather than the ongoing deposit processing rules, but its consequences could impact deposits waiting in the queue.

Kent Walker, a senior executive at Google, dismissed European concerns about the dominance of American companies in the AI industry, stating that the competition between large tech companies and startups is fierce, driving down prices and creating opportunities for European businesses.Walker pointed out that the companies involved in the competition include Nvidia, Meta, SpaceX, and others.

According to an announcement from the French Financial Markets Authority (AMF), the AMF has released a list of newly identified websites that illegally provide cryptocurrency assets or cryptocurrency asset services in France for the third quarter, including alphaairobot.com, aureoncorevix.net, bitgrokapp.com, bitkelttrade.com, cryptobullbear.com, investpathline.com, and others.Since the beginning of 2026, the AMF has added a total of 64 names to this blacklist. The AMF stated that this list will be updated frequently, but it is not exhaustive due to the continuous emergence of new unauthorized or fraudulent entities. The public can view the complete blacklist through the AMF official website under "Espace Épargnants > Protéger son épargne > Listes noires et mises en garde," as well as on the ABEIS website, and can check the whitelist of authorized cryptocurrency asset service providers (PSCA) on the AMF official website to verify whether relevant institutions are permitted to operate in France.

French government bond yields rose on Monday, widening the yield spread with German government bonds. France is facing weak economic growth and pressure from rising debt, with serious riots erupting over the weekend. The yield on France's 2-year government bonds briefly rose by 10 basis points, while the yield on 10-year government bonds climbed to 4.99% at the beginning of October. Deutsche Bank stated that the riots have increased the political risk in the market.

According to Bloomberg, Asian semiconductor stocks continued to weaken on Monday. The Bloomberg Asia Chip Index fell more than 2%, reaching its lowest level since July, with TSMC, SK Hynix, and Advantest being the main drags. The Korea Composite Stock Price Index recorded its largest weekly decline since October 2008 last week, dropping more than 3% at one point on Monday before recovering some ground; the Nikkei 225 index fell 2.3% at one point, and the Taiwan Weighted Index dropped 2%.Market concerns stem from two aspects. First, the pressure on financing for AI infrastructure in the United States continues to ferment, with CoreWeave's financing capabilities being questioned and the IPO expectations for Anthropic and Nscale cooling. Second, Chinese AI company DeepSeek released a new model update over the weekend, claiming faster operation speeds and lower resource consumption, raising concerns about the potential decrease in storage capacity required for AI models and the possible impact on chip demand.Kang DaeKwun, CEO of Life Asset Management, stated that the market uncertainty is too high, making it difficult to determine when the Korean stock market will bottom out. Financing for U.S. corporate AI projects is one of the main risks, and the profitability of Korean chip companies still heavily relies on continuous investment in AI infrastructure by U.S. companies. This week, the earnings reports from tech giants like Meta and Tesla will be an important window to observe the growth momentum of AI capital expenditures.