tree

According to CoinDesk, during the market closure on Saturday, leveraged bets linked to chip stocks and semiconductor funds were liquidated for nearly $52 million within 10 minutes. According to CoinGlass data, approximately $51.6 million in chip stocks and semiconductor fund-related positions were forcibly closed between 21:22 and 21:32 UTC, of which about $38 million came from bullish bets on rising prices. The sell-off began at Binance and quickly spread to Hyperliquid within seconds.The SOXL contract, which is three times long on chip stocks, suffered the largest loss, approximately $12.7 million; contracts for SanDisk and SK Hynix each lost about $10.8 million. According to David Jeong, CEO of trading firm Tread.fi, he placed the first large sell orders for SanDisk and Micron on Binance at 21:21:59 UTC, and less than a second later, the orders impacted Hyperliquid—this platform, launched by Trade XYZ, tracks contracts for stocks, with about 10 addresses establishing short positions on 6 chip-related contracts within 1.8 seconds. In the first minute, Binance processed approximately $21.9 million in SanDisk trades, while Trade XYZ accounted for $3.1 million.Storage chip stocks had already experienced a tumultuous week due to new competition from Chinese chip manufacturer CXMT. With the stock market closed, these contracts had no real stock prices for reference, and traders could only compete against each other; the rules of Trade XYZ allow the platform to set reference prices independently before external stock quotes resume, with relevant quotes returning when U.S. stocks open on Monday.

CryptoQuant founder Ki Young Ju posted on X that despite the market's attention on the adjustments to MSCI-related rules, Wall Street analysts remain generally bullish on Strategy. He noted that Citigroup, Barclays, and B. Riley have set target prices for MSTR at $240, $175, and $195 respectively, with an overall upward trend in target prices.He believes that the impact related to MSCI is primarily at the level of capital flow and has already been priced in by the market. He further stated that what is more noteworthy is that the market capitalization of Strategy compared to the net asset value of Bitcoin (mNAV) is about 1 times, the STRC price remains near par value, and the company holds $3.75 billion in reserve funds to cover dividend payments.

Lightning Labs announced the launch of LayerTree on the X platform, which is a non-custodial scaling solution based on Bitcoin that can connect with the Lightning Network.According to the introduction, LayerTree utilizes Covenants technology, allowing a single UTXO to be shared by up to 1 million users. Users do not need to stay online to receive funds and can exit at any time through a single transaction, with funds not expiring due to timeouts.

According to the latest Merkle Tree Proof of Reserves (PoR) data from Huobi HTX, as of October 1, 2026 (UTC+8), the reserve ratios of various mainstream assets on the platform remain above 100%, continuously ensuring the safety of user assets with sufficient reserves and committing to 100% redemption, ensuring that users can trade and withdraw at any time. As one of the earlier platforms in the industry to continuously disclose Merkle Tree Proof of Reserves, Huobi HTX has publicly disclosed PoR data to the market for 48 consecutive months, enhancing platform transparency in a long-term and verifiable manner.The specific updated reserve ratios are as follows: BTC (104%), ETH (102%), TRX (108%), USDs (104%), HTX (103%), XRP (105%), DOGE (102%), SOL (109%). Users can visit the "Assets - Proof of Reserves Report" page on the Huobi HTX official website to view this information.Since April of this year, to further enhance the visual presentation of US dollar asset reserve data, Huobi HTX has unified the display of USDT, USDC, and other US dollar stablecoins as "USDs." The asset data of each currency remains independently recorded and verified to ensure that the reserve information is authentic, clear, and traceable.

According to Beijing Daily, the 2026 Financial Street Forum Annual Conference will be held from October 19 to 22 on Financial Street in Beijing, with over 400 guests from more than 40 countries and regions attending. This is the fifteenth session, approved by the State Council, with the theme "Openness · Cooperation · Inclusiveness ------ Building a New Ecosystem for Global Financial Development Together."The annual conference plans to hold a main forum and parallel forums with a total of 21 topic activities and 3 special conferences. Among them, the Insurance Conference will be hosted for the first time by the National Financial Regulatory Administration, and the Investment Conference will make its debut, forming a matrix of special conferences with the Financial Technology Conference. More than a hundred achievements, including credit risk control strategy sandbox agents and quantum fusion algorithm intelligent evolution platforms, will be launched for the first time. The annual conference will expand its African sub-venue for the first time, initiate a three-city connection between Beijing, Hong Kong, and London, and hold 7 events in 5 overseas sub-venues in Hong Kong, London, Paris, Toronto, and Nairobi.The Financial Technology Conference in 2026 will further innovate its format and expand its scale, setting up 13 topic activities around cutting-edge issues such as artificial intelligence, blockchain, and smart finance. The People's Bank of China will host the Chengfang Financial Technology Forum within the framework of the conference and hold a seminar on artificial intelligence financial applications and risk prevention and control, continuing to organize a series of activities such as the Financial Technology Application Scenario Competition, and plans to release relevant achievements such as the central bank's digital renminbi system and digital renminbi smart contract ecological service framework.

The WeChat public account "Zeping Macro," managed by Chinese macroeconomist Ren Zeping, published an article titled "11 People Earn 900 Million Dollars a Year, Hyperliquid Changes Wall Street," focusing on the decentralized trading platform Hyperliquid and its Chinese co-founder Jeff Yan.The article states that Hyperliquid's core team consists of only 11 people, with a net profit exceeding 900 million dollars in 2025, and an average profit surpassing that of Apple, Nvidia, and OpenAI.Zeping Macro indicates that Hyperliquid is challenging the traditional financial model that relies on centralized intermediaries through self-developed blockchain, on-chain transparent trading, automatic execution of smart contracts, and a round-the-clock trading mechanism. Additionally, it is expanding the trading scope to traditional financial assets such as crude oil and stock indices with the help of HIP-3.The article claims that its core breakthrough lies in replacing some of the credit of traditional financial intermediaries with code and publicly verifiable rules.

According to CoinDesk, asset management company Federated Hermes, with a management scale of 911 billion dollars, plans to launch its first batch of on-chain fund shares early next year, further participating in Wall Street's push to bring traditional assets on-chain.Federated Hermes has partnered with digital securities infrastructure company Prometheum to introduce blockchain-based fund shares into traditional brokerage accounts and financial advisor channels. The company has not yet disclosed the specific types of tokenized funds and the blockchain network used, but its head of digital asset products and platforms, Kevin Barr, stated that money market funds may become the first tokenized products.

According to Cointelegraph, the latest data from the International Monetary Fund (IMF) shows that more than half of tokenized stock trading occurs during off-hours on Wall Street, and about 80% of the trading volume involves fractional trades of less than one share, reflecting a strong demand in the market for globalization and around-the-clock trading. Tokenized assets are gradually breaking down the time barriers of traditional financial markets.

The co-founder and CEO of the decentralized perpetual contract trading platform Hyperliquid, Jeff Yan, stated during a fireside chat at the Token2049 conference in Singapore that traditional wealth creation opportunities on Wall Street, such as company stocks, are essentially inaccessible to the investing public before they are listed on exchanges, causing retail investors to miss out on the most significant price increases prior to listing. He noted that certain assets are tradable by only a few people during most of their growth phases, and by the time the public can trade them, the growth has already been captured by a privileged few, making this wealth creation model unsustainable.Yan stated that Hyperliquid's main mission is to expand the accessibility of wealth creation opportunities and encourage more people to participate in the financial system, with income being merely a byproduct. He mentioned that Hyperliquid's success partly stems from its perpetual contracts having no expiration date, which reduces the number of decisions traders need to make and prevents liquidity fragmentation. According to data from DefiLlama, Hyperliquid generated $72 million in revenue over the past 30 days, ranking third among protocols in terms of revenue.Blockchain asset management company Pantera stated in July that perpetual contracts, due to their structural advantages, could become one of the dominant trading tools in the global financial sector, and Hyperliquid has demonstrated the potential of blockchain infrastructure to challenge traditional markets. Jeffrey Sprecher, CEO of the Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange, called on regulators to create a fair competitive environment for the launch of 24/7 on-chain perpetual contracts. In March of this year, the New York Stock Exchange partnered with the tokenization platform Securitize to advance blockchain-based stock trading infrastructure.

On October 7, WEEX Exchange announced the launch of the "Wall Street Tycoon × Monopoly" event. Users can sign up to receive dice, complete tasks such as trading real-time U.S. stocks, contract trading, consuming stock tokens, and inviting friends to earn more dice; rolling the dice to move on the board will unlock random rewards such as BTC / ETH / USDT / WXT / stock tokens / bonuses / deductions / position airdrops / points / dice, and users can also participate in U.S. stock prediction contests daily to win more points and share a prize pool of one million USDT. Event duration: October 7, 00:00 to November 3, 23:59 (UTC+8).Among them, from October 7 to 11 is the TOKEN2049 themed phase. Users who sign up to participate in the event on-site at TOKEN2049 Singapore can receive a limited VIP experience card. In addition, participants can also visit the WEEX Alpha Suite to join roundtable forums, AMAs, AI trading experiences, and Mini Trading House interactions, receiving exquisite merchandise and custom souvenirs.

The TOKEN2049 official Side Event "Stablecoins & Payments: Funds Flow," hosted by the global stablecoin payment infrastructure service provider WasabiCard, grandly opened today in Singapore. The event gathered industry guests from traditional finance, blockchain, stablecoins, payments, and AI fields, focusing on cutting-edge topics such as asset tokenization (RWA), real payments with stablecoins, and AI Agents.Guests from institutions and companies such as Circle, Plume, Mirae Asset, NIUM, Lotus Tech, Safeheron, AWS, and WIDTH participated in on-site discussions, sharing industry practices and cutting-edge viewpoints around three main directions: tokenized capital markets, the transition of stablecoins from settlement to real-world payments, and autonomous execution and payment infrastructure in the era of AI Agents.In addition, WasabiCard will appear as a Gold Sponsor at TOKEN2049 Singapore 2026 from October 7 to 8. During the conference, the WasabiCard team will showcase its two core businesses, global card issuance and global remittance, at booths PB4-24 and 25, and engage with partners from the global finance, payment, and digital asset industries to explore more collaboration opportunities.

Wall Street IPO activity has slowed, with investors showing weak demand for new stock issuances, and the market is concerned about overvaluation. The delayed listings of Anthropic and OpenAI have dampened sentiment in the U.S. equity capital markets.Data from BCA Research shows that the average stock price of technology companies that went public this year has dropped by about 23%, exacerbating concerns about high trading valuations.

According to the Financial Times of the UK, Wall Street banks have launched a record $60 billion chip deal involving Broadcom and Anthropic.

The Wall Street Journal reported that a small group of artificial intelligence researchers is discussing how to avoid catastrophic artificial intelligence risks in a co-working space named Constellation in Berkeley, California. Sources close to the space indicated that employees from Anthropic also have office space there. The report noted that Anthropic researcher Jacob Coxon resigned this month, bringing public attention in the U.S. to the notion that "uncontrolled AI development could end humanity."The report stated that individuals in the relevant AI safety circles have been concerned about this issue for over a decade. They have honed their arguments in shared houses in the Bay Area and exchanged predictions at conferences in Berkeley and the Bahamas, discussing ideas such as purchasing remote islands, stockpiling iodine tablets, or relocating to desert electromagnetic shielding bunkers. A cocktail named "Death With Dignity" appeared on the drink menu at an event in 2022, referencing an article that suggested humanity is doomed to fail.The Wall Street Journal stated that these so-called doomsayers are among the earliest employees of OpenAI and Anthropic, both of which were founded on the principle of preventing AI dangers. They continue to exert influence, with some personnel and project funding coming from networks associated with effective altruism, including the former CEO of the now-defunct cryptocurrency exchange FTX, Sam Bankman-Fried; the report noted he is currently serving a 25-year prison sentence.

According to a report by The Wall Street Journal, the construction of artificial intelligence is becoming the largest economic bet in American history, surpassing investments in railroads, highway systems, and internet infrastructure. The report states that spending on data centers has exceeded the combined expenditures on canals, railroads, and power grid construction, and this related construction is driving inflation while creating jobs and wealth.Economist Stijn van Nieuwerburgh, in estimates published by the Brookings Institution, shows that total investment in data centers and related artificial intelligence infrastructure is expected to reach $10.3 trillion from 2025 to 2032, averaging about 3.6% of GDP annually. The report states that the U.S. economy has never been so dependent on the construction of a single industry. Goldman Sachs estimates that by 2026, U.S. investment in artificial intelligence will reach 1.9% of GDP; the last time a single new industry accounted for a larger share of the economy was during the railroad boom in the late 19th century.The estimates list the average annual infrastructure spending as a percentage of GDP as follows: canals from 1836 to 1841 at 0.66%, railroads from 1870 to 1890 at 2.24%, electrification from 1905 to 1925 at 0.5%, highways from 1956 to 1973 at 1.13%, telecommunications and fiber optics from 1996 to 2003 at 1.1%, and artificial intelligence from 2025 to 2032 at 3.63%. The report also states that this investment is transforming various sectors of the economy, creating hundreds of thousands of jobs and producing new billionaires, while also carrying significant risks, as a large portion of it is supported by debt.

According to The Wall Street Journal, traders on the prediction market platform Kalshi have executed nearly 1 million trades of nearly identical amounts in a single market since August, an unusual activity that has drawn the attention of federal regulators and traders. Kalshi stated that these trades represent normal activity, and the company does not disclose the identities of traders in its public data.The Wall Street Journal's analysis of publicly available trading data found that in recent weeks, more than one-third of trades in the Ethereum price speculation market consisted of rapid trades around the same order size of approximately $5,500. These rapid trades, all close to $5,500, occurred in a single Kalshi market, totaling about $5 billion.

According to the Financial Times, as borrowing costs rise, Wall Street expects the United States to issue about $1 trillion in short-term debt.