MeNews

U.S. stocks closed higher on Wednesday, with technology shares strengthening, Dell surging, and oil prices stabilizing. U.S. Treasury yields approached 5%, and global stock markets may face a 5%-8% correction. Trump said the strikes on Iran would end soon and that the Strait of Hormuz would be renamed the Trump Strait. The former British prime minister warned that failure to control debt would force emergency spending cuts. The Beige Book said the U.S. economy grew moderately, with AI and data centers serving as key supports. Tron’s USDT supply surpassed Ethereum’s for the first time. Broadcom’s Q3 results exceeded expectations, and its AI revenue guidance was raised. Robinhood Chain generated $3.75 million in daily fees, exceeding the combined total of Solana, ETH, and Base.

According to Bloomberg, Japan’s Daiwa Securities and Mizuho Financial Group have been notified that they may operate wholly owned securities businesses in mainland China. The approvals moved forward after He Lifeng hosted a Japanese delegation in March to discuss expanding bilateral trade and cross-border investment. Mizuho confirmed that it is preparing to launch operations, while Daiwa declined to comment.
Daiwa was approved in 2021 to establish a joint-venture securities firm, in which it held a 51% stake. It bought out the remaining shares in April this year, becoming the firm’s sole owner. Mizuho was approved in 2025 to prepare for the establishment of a wholly owned securities firm. After completing an on-site inspection, it received a securities business license last week.

ME News, October 20 (UTC+8) — France’s Financial Markets Authority (AMF) announced a new batch of websites identified in the third quarter that illegally offer crypto assets or related services in France, including alphaairobot.com, bitgrokapp.com, cryptobullbear.com, and investpathline.com. Since the start of 2026, the AMF has added 64 names to its list of unauthorized crypto asset websites. AMF

Huang Licheng posted on X that PAPER tokens will remain nontransferable for the long term. Holders can currently earn returns only through fee distributions, and their share may be diluted as the token supply increases. Machi noted that because there is no team token allocation, token value, dilution, and exit liquidity matter more to holders, while fee revenue distribution aligns the interests of both sides. He said there is still room to address these issues.

ME News, October 20 (UTC+8) — According to MyToken data, the cryptocurrency market saw $241 million in liquidations across all exchanges over the past 24 hours. Total BTC liquidations were $49.4391 million, ETH liquidations were $90.2398 million, SOL liquidations were $6.9768 million, and XRP liquidations were $2.1251 million. (Source: MyToken)

Bitwise Chief Investment Officer Matt Hougan shared on X JPMorgan Asset Management’s “2027 Long-Term Capital Market Assumptions”: Over the next decade, Bitcoin is projected to deliver an annualized return of 10%, ahead of the broad U.S. stock market at 7.5% and gold at 5.5%, making it the top-performing asset. Its annualized arithmetic return is 20.9%, with volatility of 55%, far higher than the broad U.S. stock market’s 18% and gold’s 17.2%. Hougan also joked that traditional finance had gone from ignoring and mocking Bitcoin to including it in long-term forecasts, with Bitcoin expected to be the best-performing asset over the next decade.

The Australian government plans to sue Facebook, Instagram, TikTok, Snapchat, and YouTube in federal court for failing to comply with the ban on users under 16. An eSafety investigation found that most minors could still create or keep accounts, largely because age verification is weak. The government will double the maximum fine to A$109.2 million and expand its investigative powers to allow it to subpoena relevant individuals. Officials said they are preparing to bring the case before the Federal Court. Meta and eSafety have not commented.

Asymmetric Research disclosed a vulnerability in Solana’s on-chain governance program svmgov: independent votes submitted in advance by delegators of validators who did not participate in voting might not be counted in the final results. The vulnerability was reported on July 10 and fixed on August 3, before the governance vote on August 24. If it had not been fixed, the approval rate for SGP-0002 could have fallen from 67% to 66.65%, below the 66.67% threshold. The vulnerability was fixed before the vote and did not change the outcome.

ME News reported that Trump thanked Musk and announced that millions of American children would receive SpaceX shares through “Trump Accounts.” The initiative aims to harness the power of the private sector to help children invest and share in the benefits of the U.S. economy. Musk said he plans to give one SpaceX share to every American child in 2027, as the first of similar initiatives in the future. Specific details have not yet been announced.

On October 20, the KOSPI plunged again, falling as much as 4.76% and dropping below 5,500 intraday. Rising U.S. Treasury yields and a weak first-day performance by a data center company weighed on sentiment. Foreign investors were net sellers of 636.7 billion won, while institutions were net sellers of 467 billion won, including 241.8 billion won from financial investment firms and 159 billion won from pension funds. Individuals and other corporations attempted to support the index, with net purchases of 838.8 billion won and 261.6 billion won, respectively. An analyst at Eugene Securities said the selling was indiscriminate and the market was fragile; battery stocks, which had previously led gains, also retreated. Source: ODAILY.

South Korean AI services provider Elice Group’s share price fell 28% on its first day of trading. Its IPO raised 201.1 billion won (about $150 million), which will fund infrastructure such as AI cloud services, education and enterprise software, and portable modular data centers. Against a backdrop of high inflation, investors are concerned about the short-term returns on the massive investment and the need for further financing. The stock is currently trading at 65,300 won, compared with an offering price of 90,500 won, and institutional subscriptions were 388.84 times the shares available. Sentiment in the sector has cooled, and several planned listings have run into difficulties.

Google will update its financial services policy. Starting October 21, advertisers promoting crypto trading platforms, wallets, CFDs, and forex in the UAE must be licensed by the CMA, DFSA, FSRA, or VARA and complete Google certification, while complying with local laws. The policy applies to all relevant ad accounts worldwide. Violations will first receive a warning, and accounts may be suspended no sooner than seven days later.

The Retail Banking Department of Shanghai Pudong Development Bank is recruiting a Digital RMB Product Manager. The position is based in Shanghai and covers five areas: business coordination, system development, marketing, business operations, and compliance and risk management. Responsibilities include developing the bank-wide Digital RMB business strategy, liaising with regulators, planning product updates, driving real-world use cases, coordinating with partner institutions, and conducting compliance monitoring (including anti-money laundering and anti-fraud). Applicants must have a bachelor’s degree or higher and at least two years of relevant banking experience. Candidates with frontline experience are preferred. Source: PANews.

ME News reports that on October 20, according to monitoring by Catcher Predict, in the Polymarket submarket “Japan Women’s Open: Katie Boulter vs. Hina Sakatsume,” the odds of the “Over” option for total games exceeding 22.5 rose rapidly from 25% to 50% within one hour, a 25-percentage-point increase. Please note the impact of relevant breaking news. Source: ChainCatcher

ME News, Oct. 20 (UTC+8) — Citi Research published an opinion report titled “US Digital Assets: Aave -- Bringing Real World Finance Onchain.” The report characterizes Aave as a decentralized collateral liquidity protocol for tokenized capital markets. It notes that as tokenized assets, stablecoins, and institutional participation grow, the framework of viewing Aave solely as a crypto-native protocol is incomplete.
Citi believes collateral liquidity could become one of the most important use cases for tokenization. Initiatives such as Aave V4, Horizon, and GHO all point toward building at the intersection of collateral, liquidity, and financing. If tokenization determines how assets are brought onchain and stablecoins become the default settlement layer, protocols such as Aave may determine how these assets

ME News, October 20 (UTC+8) — Beginning October 20, the 33rd APEC Finance Ministers’ Meeting will be held in Hong Kong, China. Finance ministers or their representatives from 21 APEC economies, heads of relevant international organizations, and senior representatives from partner organizations will attend. The meeting will focus on four key topics: fiscal policies that support people’s livelihoods and development, financing for digital infrastructure, promoting inclusive finance in ways suited to local conditions, and fostering exchanges and cooperation among young financial professionals across APEC economies. (Source: Jin10)

ME News reports that on October 20, Aster announced on X that, in light of developments related to PAPER and potential market risks, it had switched the PAPER pre-market perpetual contract to reduce-only mode. The contract will be delisted at 9:45 Beijing time. Traders with open positions are advised to close them before delisting. This is a precautionary risk management measure intended to maintain market order. Source: ODAILY.

On October 20, multiple ARK Invest funds adjusted their holdings. ARKK bought 102,280 shares of CoreWeave and sold 18,087 shares of Shopify and 15,988 shares of Palantir. ARKW bought 30,218 shares of CoreWeave and sold 2,668 shares of Shopify, 2,361 shares of Palantir, and 500 shares of DraftKings. ARKG bought 60,269 shares of IAM, 19,856 shares of SCTX, and 4,835 shares of FRNM.

The Blockchain Association submitted comments on the Treasury Department’s proposed rules implementing Section 3 of the GENIUS Act. It generally supports the core regulatory framework but calls for greater clarity on the definition of digital asset service providers, the standard for determining “knowing participation,” and compliance requirements for foreign stablecoin issuers to reduce uncertainty in implementation.

The Ethereum Foundation announced that the Glamsterdam upgrade will activate on the Hoodi testnet on October 26 at 17:42:48 UTC (October 27 at 01:42:48 Beijing time). The Hoodi block gas limit will increase to 200 million. The upgrade includes proposer-builder separation, block-level access lists, and gas fee adjustments. The Sepolia testnet activation was completed on October 6, while the mainnet upgrade date has not yet been determined. Node operators must update their execution layer and consensus layer clients before activation on Hoodi.

Sophon has announced a phased shutdown. The mainnet will shut down permanently on November 30, 2026, and the deadline to withdraw assets is November 25. After that, related infrastructure and websites will be shut down in stages, and assets that have not been withdrawn may become permanently inaccessible. Use official channels only to withdraw liquid assets such as SOPH, ETH, and USDC, claim staking and Guardian rewards, and withdraw any remaining farming assets. Treat November 25 as your deadline—don’t wait until the last day, and avoid using unofficial migration links.