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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.

Broadcom CEO Hock Tan said at an event in Singapore that the AI boom has attracted gambler-like investors, many of whom do not understand what they are investing in and have extreme expectations, making it resemble a casino. He questioned corporate spending on AI projects and the long-term profitability of frontier large language models, saying OpenAI’s annualized revenue of about $5 billion in September indicates a viable business model but that it is still losing money. Training costs are high, while the potential for revenue growth from frontier models is enormous. He warned that funding shortages could become a new constraint on the industry. Previously, Firmus Grid withdrew its $5.5 billion IPO, while DBS’s Tan Su Shan said the market was repricing the risks of AI financing.

Axel Adler stated that the Bitcoin market absorbed a net 220,374 BTC last week, while exchanges recorded a net outflow of -3,863 BTC. Despite the large amount of BTC flowing into exchanges, the net outflow still indicates that buyer demand exceeded selling pressure. The market was able to absorb the additional supply, showing that some investors took on the selling pressure. The market’s subsequent direction will require continued monitoring of exchange flows and changes in supply and demand.

Nasdaq-listed Solana treasury company DeFi Development (DFDV) increased its holdings by approximately 22,070 SOL last week, bringing its total holdings to approximately 2.5862 million SOL, with a market value of approximately $302 million. Since announcing its second-quarter earnings on August 12, its SOL and equivalent-asset reserves have grown by approximately 12%; the recently established $300 million over-the-counter offering program (CHAD ATM) will provide additional funding to further expand its SOL reserves in the future.

ME News消息，10月12日（UTC+8），据CoinMarketCap行情数据显示，BTC跌破83000美元，现报价82975美元，24H跌幅达1.1%。（来源：CoinMarketCap）

ME News, October 12 (UTC+8) — According to CoinMarketCap market data, BNB has broken above $750 and is currently trading at $750.2, up 0.7% over the past 24 hours. (Source: CoinMarketCap)

ASIC plans to expand its CFD rules to cover derivatives related to the transfer and settlement of digital assets, subjecting them to leverage caps, mandatory close-outs, and negative balance protection, but excluding cryptocurrency futures and options with fixed expiration dates. The consultation closes on November 9. The current CFD framework has required mandatory close-outs for low balances and negative balance protection since 2021. Australia passed legislation in April bringing cryptocurrency exchanges and tokenized custody services under financial services licensing requirements, with the new regime taking effect on April 9, 2027.

Bulgaria’s First Investment Bank, Fibank, has partnered with Bitpanda, enabling Fibank users to access Bitpanda’s crypto asset services through the MyFibank app, with a minimum investment of 1 euro. The services are provided by Bitpanda, and users must pass a review before they can use them. Fibank said it is the first bank in Bulgaria to offer users integrated crypto asset trading services.

ME News reports that LDK has released a security update to fix a vulnerability that could allow malicious nodes to steal funds, with the most serious issue involving channel reconnection. A malicious node could falsely claim that it had not received a confirmed channel update. Affected LDK versions might sign conflicting commitment transactions, allowing attackers to reclaim bitcoin after forwarding a payment. The affected versions are 0.2.7 and 0.1.13. No confirmed losses have been disclosed. Source: ODAILY.

France’s National Assembly Finance Committee passed several crypto tax amendments last week: starting in 2027, individuals residing overseas and holding more than €800,000 in crypto assets would be subject to an exit tax, covering tokens held on foreign platforms and self-custodied wallets, with the tax rate yet to be determined; those relocating within the EU could apply to defer payment, and the tax could be waived after holding the assets for two to five years; self-custodied wallet balances exceeding €100,000 at year-end would have to be reported, with failure to do so subject to a maximum fine of €10,000; and exchanging crypto assets for stablecoins would be included under the current 31.4% flat tax rate. Because the amendment was rejected in the budget revenue section by 31 votes to 3, it must be resubmitted this week, put to another vote on October 20, and voted on as part of the full bill on November 17 before being referred to the Senate for review.

ME News, October 12 (UTC+8) — Prediction market data shows that “Ravens vs. Falcons” reached a 24-hour trading volume of $6.4M, with market participation increasing significantly.

Standard Chartered Bank provides institutional custody services for Ripple USD (RLUSD), issued on the XRP Ledger through its DIFC branch and regulated by the DFSA. It is working with Ripple and the LMAX Group to include RLUSD among the eligible collateral for LMAX products. Under the collateral mirroring model, institutional clients can trade without transferring RLUSD to the trading venue. Implementation is still subject to the completion of final documentation, testing, and regulatory approval.

ME News, October 12 (UTC+8) — Bitcoin Treasuries posted on X that billionaire Grant Cardone told Peter Schiff that his company uses cash flow generated from real estate to buy more Bitcoin every month and plans to purchase another 500 Bitcoin through refinancing.

ME News reports that despite market disruptions from news of the U.S. government moving large amounts of BTC and Ledger being hacked, BTC remains range-bound, with support at $80,000 holding firm. A break above $87,000 would target $94,000. Implied volatility in the options market is high, put premiums are narrowing, and the market appears to be waiting for a breakout. The main focus at month-end is the $90,000, $95,000, and $100,000 call butterflies expiring on October 30. Also in focus this week are CPI, PPI, and speeches at the IMF/World Bank annual meetings. The probability of an October rate hike is approximately 17%, and macroeconomic data could influence the subsequent direction.

On October 12, RootData data showed slight divergence in perpetual contract prices for exchange-listed stocks and ETFs. Alibaba, SanDisk, Robinhood, and JPMorgan Chase edged up, while the iShares Bitcoin ETF declined. BABA 110.58, SNDK 1562.94, IBIT 47.52, HOOD 110.94, JPM 335.12, with changes from the after-hours reference prices of +0.23%, +0.22%, -0.22%, +0.21%, and +0.19%, respectively.

On October 12, BFX will face JDG in the Demacia Cup quarterfinals. The BO5 prediction gives JDG a 33% chance of winning. In the Swiss stage, BFX first defeated VIT and LGD to advance to the quarterfinals. JDG lost to BRO in the opening round, then defeated SR to enter the 1-1 group, but subsequently lost 0-2 to LGD and dropped into the 1-2 group. They ultimately came from behind to defeat NAVI 2-1 in the final round and secure the last quarterfinal spot. Due to a scheduling conflict with the Asian Games involving mid laner HongQ and jungler JunJia, JDG has temporarily fielded Angel and xiaofang. This year’s Demacia Cup has been upgraded to an international invitational, bringing together 12 teams from the six major regions. The quarterfinals use a single-elimination format, with the matches taking place at JDG’s home venue in Beijing. The winner will advance to the semifinals.

OSL Group announced the integration of the compliant dollar stablecoin USDGO into Copper’s ClearLoop over-the-counter settlement network. Institutional clients can hold USDGO in Copper custody accounts and trade and settle directly across multiple exchanges through ClearLoop without leaving their custody accounts. This structure enhances liquidity while maintaining custody security and reducing custody risks and idle funds. USDGO is issued by Anchorage Digital Bank, regulated in the United States, and audited by a third party, with OSL serving as its brand operating partner and distributor.

At a DBS Bank forum, Jensen Huang said that Chinese AI models such as DeepSeek, Kimi, and GLM are already performing well enough. He also stated that he is a firm supporter of open source, and that the market will determine each model’s suitability for different application scenarios. He further predicted that quantum computing will enter mainstream applications within 3-5 years, with software improving the utilization efficiency of related infrastructure.

Goldman Sachs strategists have turned bullish on global equities in the short term, saying that although rising oil prices and bond yields are restraining gains, improving earnings are easing valuation pressures. Their rating has been raised to overweight for the next three months, consistent with their bullish view over the next 12 months. Christian Mueller-Glissmann said earnings growth is supporting stock markets and improving the risk-reward profile. Wall Street firms including Bank of America and Barclays are also bullish on U.S. stocks due to strong earnings expectations; Bank of America raised its year-end S&P 500 target to 7400, while Barclays also lifted its target.

SWI Group has completed an €800 million financing round to expand its AI infrastructure business. The company previously held a stake in a Bitcoin mining firm through Genesis Digital Assets, which was backed by FTX. It plans to convert some high-performance mining machines and data centers into AI computing hubs to support AI workloads. As demand for AI continues to grow, more Bitcoin miners are exploring ways to transform their existing power, data center, and hardware resources into AI computing capacity.

Amy Oldenburg, Morgan Stanley’s head of digital asset strategy, said the company expects to begin supporting tokenized stocks on its alternative trading system (ATS) in the first quarter of 2027, later than the previously disclosed plan for the second half of 2026. The first quarter is more realistic and aligns with activity across the broader ecosystem, while the team is actively advancing the related development.