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.

ME News, October 11 (UTC+8) — Prediction market data shows that the 24-hour trading volume for “Counter-Strike: Aurora vs Vitality (BO3) - ESL Pro League Playoffs” reached $1.9M, with market participation increasing significantly.

Backpack announced that Kyle Samani, co-founder of Multicoin Capital, has joined the Backpack US Board of Directors, and that his largest personal angel investment in Backpack has also closed. Samani focuses on DeFi, blockchain infrastructure, and global capital markets. Backpack said the appointment reflects a shared conviction that the future of global finance will combine institutional-grade risk management with the efficiency and transparency of on-chain markets.

ME News reports that on October 11 (UTC+8), according to the CME FedWatch Tool: The probability that the Federal Reserve will keep interest rates unchanged through October is 82.3%, while the probability of a cumulative 25-basis-point rate hike is 17.7%. The probability that the Federal Reserve will keep interest rates unchanged through December is 18.7%, the probability of a cumulative 25-basis-point rate hike is 67.6%, and the probability of a cumulative 50-basis-point rate hike is 13.7%. (Source: Jin10)

Hedge funds’ net exposure to the Magnificent Seven U.S. stocks rose to a record 22%, up another 7 percentage points from the June 2024 peak of 21% and below the 8% bear-market floor. Elevated long positions reflect confidence in technology stocks but may indicate excessive crowding; if the investment thesis reverses or positions are substantially unwound, it could pressure S&P 500 perpetual contracts and Bitcoin. The semiconductor sector’s net exposure was 12%, down from the June peak of 14% but significantly higher than the 2% level at the beginning of 2025. The increase in exposure to the Magnificent Seven over the past three months was the largest since 2023.

ME News reports that on October 10 (UTC+8), according to CoinMarketCap market data, BTC broke above $83,000 and is currently priced at $83,023, up 0.2% over the past 24 hours. (Source: CoinMarketCap)

ME News, October 10 (UTC+8) — According to CoinMarketCap market data, ETH has surpassed $2,500 and is currently priced at $2,501.0, with a 24-hour increase of 0.5%. (Source: CoinMarketCap)

Elon Musk’s Terafab claims it can achieve 1 terawatt of computing power, but experts believe both its implementation and stable yield rates will be extremely difficult, potentially even more difficult than sending Starship to Mars. Samsung executives emphasize that chip manufacturing requires years of accumulated yield experience and process optimization, and that it takes at least 30 years to reach mass-production standards. Analysts say Terafab will target fields such as aerospace, autonomous driving, and robotics, while Intel’s experience will be crucial to rapidly building a production system.

The U.S.-Iran standoff persists this week, while Trump has ruled out taking action before the midterm elections. The Fed minutes and remarks from several officials signal that another rate hike may come by year-end, but immediate action in October is not certain. Investors will be watching the IMF/World Bank Annual Meetings, CPI and other data, as well as remarks from multiple officials. September CPI will be released, and investors will use it to assess the timing of rate hikes. Market expectations for an October rate hike have fallen to 19%, while a December hike is still anticipated. EIA inventory data will also be closely watched.

ME News reports that Relay will sunset Vaults. Users with funds in Vaults must withdraw them through the official portal, which will close on 2026-12-31. After that, funds can still be withdrawn directly from the contract. Vaults is an optional liquidity provision product that is being sunset ahead of the launch of a new version, with more details to be announced later. Swaps, payments, and other integrations will not be affected and will continue operating as usual.

ME News reported that NEAR treasury company SVRN has acquired its infrastructure platform FastNEAR. FastNEAR has become a wholly owned subsidiary of SVRN, and co-founders Evgeny Kuzyakov and Mike Purvis will also join SVRN. FastNEAR provides high-performance RPC infrastructure for NEAR applications, supporting core data-layer services, including server clusters that handle reads and writes, an archival system that stores complete transaction histories, and NEARDATA, a data source that allows developers to access historical data.

Analyst Darkfost points out that Bitcoin’s current trend closely resembles the period from late 2025 to early 2026. BTC is fluctuating around the capital-weighted cost basis range of approximately $80,500, and the support level remains valid. CWCB weights the amount of capital invested, unlike a simple purchase price. This zone is a key inflection point where investors are generally at breakeven, and shifts in market sentiment could prompt most investors to take action, making it important to monitor closely going forward.

Sequoia Capital-backed chip startup Nuvacore plans to raise several hundred million dollars at a valuation of approximately $2.5 billion. Founded by former Apple executive Gerard Williams and others, the company has completed a seed round led by Sequoia and has not yet released a product. The new funding will be used to develop a new CPU designed specifically for data centers. As demand for AI computing power rises, the data center CPU sector is attracting more investors.

ME News reported that Strive’s SATA preferred stock raised approximately $55 million during the week of 10/5, enough to purchase approximately 638 BTC; approximately $317 million traded during the week, with the price above par on Monday and Tuesday and below par from Wednesday through Friday, suggesting that issuance may have been paused. The 8-K will disclose the actual amount of BTC purchased. As of 10/2, Strive held 29,462 BTC and had increased its holdings by 2,000 BTC from 9/28 to 10/2 at an average price of approximately $84,422; Strategy did not sell any STRC from 9/28 to 10/4 and purchased 334 BTC solely through MSTR stock.

South Korea’s Financial Services Commission Chairman Lee Won-seok said that the restrictions on major shareholders’ stakes in virtual asset exchanges under the Digital Asset Basic Act currently being advanced are not aimed at individuals or companies, but are intended to ensure that exchanges assume greater public responsibilities after transitioning to institutionalized operations. Under the current reporting system, registration must be renewed every three years; after implementation, operations will shift to a licensing system. He pointed out that exchanges have an infrastructure function and must possess a level of public nature and responsibility commensurate with their status.

ME News reported that the October 2025 crash exposed the continued risks of high leverage and crowded trading, and that a similar event could occur again. Looking back at the October 11 crash, BTC fell from $126,000 to $105,000, triggering approximately $19 billion in liquidations. The head of risk said that the peak formed quickly while open interest remained elevated; traders were betting on a bull market driven by the four-year cycle, but the market reversed. Leverage driven by derivatives continues to dominate short-term prices. Experts recommend reducing leverage and monitoring open interest, funding rates, and sentiment.

Well-known BTC quantitative trader Killa said that buyers absorbed selling pressure during the recent pullback, with strong buying interest and a key psychological level around $82,600. Support below is currently scarce. If this week’s candle closes above last week’s low, it will signal bullish momentum and could indicate a return to the range. Killa previously shorted at $74,688 and switched to a long position in June. He has over 200,000 followers.

ME News, October 10 (UTC+8) — Ledger posted on X stating that, based on the information currently available, it believes the stolen funds were limited to devices sold through a distributor named CryptoBilis in Southeast Asia. There is no indication that Ledger’s security infrastructure, systems, or services were compromised. Ledger takes security reports very seriously, and its team is actively investigating the specific issue. For assistance or inquiries, users should contact Ledger Customer Support through official channels. (Source: PANews)