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.

The Hong Kong Stock Exchange published its consultation conclusions on shortening the spot market settlement cycle to T+1. There was broad market support for transitioning in the second half of 2028, subject to market readiness and regulatory approval. A total of 109 responses were received from brokers, custodians, investment managers, associations, technology providers, investors, and others. Respondents generally believed that T+1 would improve efficiency, reduce settlement risk, enhance capital efficiency, and strengthen Hong Kong’s position as an international financial center.

UMX, a crypto-friendly securities platform incubated by Avenir Group, has officially launched and opened registration. Since its public beta began in August, it has received 788 pieces of feedback and implemented 89 improvements. UMX grew out of the cross-asset management operations of Li Lin’s family office. It breaks down the barriers between crypto assets and securities, bringing Hong Kong and U.S. stocks and crypto assets together on a unified trading platform. Features include unified cross-asset margin, flexible transfers, and credit backed by crypto holdings to buy stocks—so users can buy stocks with their crypto. Celebrate the launch with three special offers: get an iPhone Duo when you meet the wealth management requirements, earn UMX points through trading, and receive up to 100 USDT as a new user. Learn more at umx.com.

ME News reports that on October 16 (UTC+8), seven Chinese men, including three students, were charged at the Johor Bahru Magistrates’ Court in Malaysia with conspiring to commit fraud through a fictitious cryptocurrency investment scheme. All seven pleaded not guilty. Prosecutors alleged that the men conspired to commit fraud at noon on October 1 in two residential units in Forest City. If convicted, they face up to six months in prison, a fine, or both. The court granted bail of 7,000 ringgit (approximately $1,711) for each man, requiring two local sureties. The case is scheduled to resume on November 11 for the submission of relevant documents.
In addition, three of the men were separately charged with illegally entering Malaysia. If convicted, they face up to five years in prison, a fine of 10,000 ringgit (approximately $2,445), or both.

ME News reported on October 16 (UTC+8) that, according to an announcement by Mitsubishi UFJ Trust and Banking Corporation of Japan, Mizuho Bank, MUFG Bank, and Sumitomo Mitsui Banking Corporation conducted a proof-of-concept experiment for the joint issuance of a yen stablecoin from July 17 to 23, 2026, confirming the feasibility of the joint issuance model. In the experiment, the three banks acted as joint entrustors, while Mitsubishi UFJ Trust and Banking Corporation acted as trustee to issue the stablecoin. The experiment also validated the issuance, transfer, and redemption processes for cross-border settlements between Mitsubishi Corporation’s locations in Japan and overseas. The parties said they plan to use deposits as reserve assets going forward, though the specific design may still change. Previously, in November 2025, the experiment was selected as the first supported case under the Japan Financial Services Agency’s “Payment Advancement Project (PIP).” The three major banks announced in June 2026 that they plan to launch actual transactions within fiscal year 2026. (Source:

ME News reports that Xiaohongshu sent an all-hands letter announcing that Dots, its first-level AI department, will be integrated with the core infrastructure team, while hi lab will focus on long-term, frontier research. The letter emphasized that Xiaohongshu positions itself as a technology applications company, fundamentally different from cloud providers in its approach to model development. Its future direction lies in deeply integrating models and applications, with technology and products advancing one another to create valuable user experiences.

According to ME News, on October 16 (UTC+8), Singapore Gulf Bank (SGB) announced that personal customers can convert between U.S. dollars (USD) and USDT or USDC in either direction through its mobile banking app, without transferring funds to a cryptocurrency exchange, and can hold USDT, USDC, and other fiat currencies in the same bank account. The service is available Monday through Friday 24

South Korea’s Financial Services Commission and Financial Supervisory Service will step up monitoring of overseas platforms, focusing on cracking down on illegal activities such as offering perpetual contracts linked to Korean stocks and stock indices, soliciting South Korean residents, and collecting commissions. Any violations discovered will be reported to law enforcement, and the impact of these overseas products on South Korea’s stock market will be assessed. The agencies also plan to engage with major overseas platforms and request their cooperation to ensure their operations comply with the law.

SlowMist Alert: A phishing campaign disguised as a Ledger firmware update is exploiting the recent Ledger supply chain incident. The phishing page is highly realistic, featuring an authenticity check, a device selection screen, and an “Update Now” button. Users are reminded never to update Ledger through a link or enter their recovery phrase anywhere. Source: ChainCatcher

According to Hong Kong police’s CyberDefender platform, more than 150 WhatsApp account hijacking scams were reported over the past two weeks, resulting in total losses of over HK$15 million. An employee of a local company engaged in virtual currency exchange had their account hijacked. The scammers blocked the original group and created a fake one, posing as a client representative to request an exchange. Following standard procedures, the employee transferred cryptocurrency and debited the customer’s account. The scam was only discovered when the balance became insufficient and the details were verified by phone. The company lost over HK$4 million.

Santiment said the number of wallets holding between 10 and 10,000 BTC rose to 20,338, an all-time high, after climbing sharply and steadily since mid-July. This group is closely tied to future price movements. Whales entering during a consolidation period suggests confidence remains strong and may lay the groundwork for future gains. Prices could pull back in the short term, but continued growth in key wallets will support a subsequent rally.

ME News reported on October 16 (UTC+8) that Russian President Putin signed a decree placing the Russian assets of several companies from France, Germany, Sweden, and the Netherlands under temporary management. The companies include French flooring manufacturer Tarkett and German packaging manufacturer Menshen. The move is a response to the EU’s support for Ukraine, and the Kremlin said the measures can be reversed. (Source: ChainCatcher)

The Shanghai Cyberspace Administration and Municipal Data Bureau issued several measures to promote high-level opening-up and facilitate cross-border data flows. Key measures include improving infrastructure for cross-border data flows; advancing the development of the National Blockchain Network (Shanghai Hub); strengthening foundational capabilities such as distributed digital identity, privacy computing, and cross-chain services; exploring cross-border data service models based on mutual recognition of rules; and supporting the development of international data centers and cross-border digital services such as computing power services.

At the first meeting of President Trump’s AI task force, the “Superintelligence Force,” members decided to focus on risks such as cybersecurity and model control, with PCAST tasked with drafting a report. The group will establish an early-warning system requiring AI labs to notify the government of security vulnerabilities, and create a coordination committee for law enforcement and consumer protection. The White House said no new laws or regulations are currently under discussion. Despite previous opposition to regulation, AI safety concerns and costs are drawing attention from lawmakers in both parties.

The September 2026 bank deposit rate report released by the Rong360 Digital Technology Research Institute shows that, except for a slight month-over-month decline in the 3-year rate, fixed-term deposit rates for all other terms rose slightly or remained unchanged. The 5-year rate and the rate on 5-year large-denomination certificates of deposit saw the most notable increases. Average September rates for lump-sum deposits with interest paid at maturity were: 0.950% for 3 months, 1.156% for 6 months, 1.267% for 1 year, 1.358% for 2 years, 1.682% for 3 years, and 1.571% for 5 years. Compared with the previous month, the rates changed by +0.1 bp for 3 months, +0.4 bp for 6 months, +0.3 bp for 1 year, unchanged for 2 years, -0.1 bp for 3 years, and +0.7 bp for 5 years. Source: Jin10

Strive increased the IPO size of its 15% Series A Perpetual Preferred Stock from 2 million shares to 7 million shares, at an offering price of $90 per share. Subject to customary closing conditions, the offering is expected to close on October 20, 2026, and is expected to raise approximately $630 million in total.

UniSat announced a partnership with Utexo to bring USDT to UniSat Wallet and UniScan using the RGB protocol, enabling users to manage and transfer it alongside BTC, Ordinals, Runes, and other assets in the Bitcoin ecosystem. Once the wallet and explorer are fully developed, UniHexa will open trading between Bitcoin-native assets and USDT. As a direct partner for Bitcoin USDT infrastructure, Utexo will help verify the official USDT asset and support a phased rollout, first covering institutional liquidity and exchanges, then expanding to retail users.

Federal Reserve Chair Warsh said while attending the 2026 IMF/World Bank Annual Meetings in Bangkok that although the world has been hit by geopolitical conflicts and tightening policies, many G20 economies remain resilient. He said optimistically that the United States could emerge from this round of shocks stronger, with a more solid economic foundation and the ability to lead global growth.

Analyst Murphy noted that during the BTC pullback, short-term holders transferred an average of about 2,200 BTC per hour to exchanges over a four-hour period, forming the fourth-largest spike during a downturn this year. Both the 8th and 15th occurred during downtrends. Long-term holders transferred about 480 BTC per hour, with lower volatility. Overall, short-term holders remain the main force, while bottom-position holders are less likely to sell.

Saber Money announced a strategic investment from Tether and CMCC Global’s Titan Fund to deepen its existing cross-border remittance corridors and expand into emerging markets in Asia-Pacific and the Gulf, with a focus on building licensing and banking relationships. It also operates Indian crypto exchange Mudrex. The company processes payments in 40+ countries, with payment volume increasing sixfold over the past nine months and 90% of transactions completed within one minute. Its backers include Y Combinator, Tether, and Titan Fund.

Visa Direct’s stablecoin capabilities have moved from pilot to commercial deployment, with Inyo Global becoming the first service provider to offer them commercially. Businesses can use a single interface on the Inyo Global platform to onboard users, manage fraud prevention and compliance, collect payments, and make domestic and cross-border payments to more than 180 countries and territories worldwide.