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 Fed’s September minutes will reveal officials’ assessment of the restrictiveness of financial conditions and whether further rate hikes are needed. Financial conditions remain relatively loose, with bond spreads and financial conditions indexes at historically low levels; August PCE rose 3.4% year over year, while core PCE rose 3.0%, putting the real interest rate at approximately 50–90 basis points. If the minutes discuss these factors, they may help the market determine whether the September rate hike was a one-time adjustment or the start of a new tightening cycle.

TOKEN2049 announces its expansion into the United States with the launch of TOKEN2049 New York. The inaugural U.S. edition will take place on June 16–17, 2027, and is expected to attract approximately 15,000 attendees. New York will become the third flagship location after Singapore and Dubai. As part of the annual global tour, the event will feature not only a two-day conference and exhibition but also TOKEN2049 Week, spanning the entire city. Tickets are priced at $599.

According to The Defiant, citing Beaconcha.in data, the number of active Ethereum validators fell 2.5% over the past 7 days to approximately 863,000, while the total amount of staked ETH increased slightly by 0.08% to 43.74 million ETH. The decline was due to the validator consolidation mechanism introduced in the Pectra upgrade, which raised the effective balance limit for individual validators from 32 ETH to 2,048 ETH, allowing validators to be consolidated without exiting staking and reducing network overhead. Currently, approximately 507,000 ETH is in the consolidation queue, with an estimated wait time of about 5 days and 11 hours.

ME News reported on October 7 (UTC+8) that International Monetary Fund (IMF) Managing Director Kristalina Georgieva said governments must urgently address the challenges posed by imbalanced artificial intelligence development, prolonged energy shocks, and record debt accumulation. She noted that the AI boom is driving inflation higher, while energy and food shocks will also push up inflation. Georgieva called on central banks to adopt a cautious hawkish stance. (Source: ChainCatcher)

ME News, October 7 (UTC+8): On October 6, GasFree announced that it will launch a lucky money shaker interactive experience at Token2049 Singapore on October 7. Attendees who shake the shaker and draw a fortune slip will have the chance to receive lucky slips, limited-edition merchandise, and surprise rewards. Visit the GasFree booth to check in and experience the event, shake the lucky money shaker, try your luck, and take home exclusive good fortune, limited-edition merchandise, and surprise rewards. (Source: ChainCatcher)

Santiment stated that Bitcoin’s net outflow from CEXs reached 24,073 BTC on Monday, the highest single-day level since March 1. CEX holdings account for approximately 6.5% of the total BTC supply. Withdrawals from exchanges are generally viewed as bullish because coins held off exchanges are less likely to be sold. If demand persists while the liquid supply shrinks, buy-side demand will have a harder time being met, potentially driving prices higher.

ME News, October 7 (UTC+8) — According to data from South Korea’s Financial Supervisory Service cited by a South Korean lawmaker’s office, South Korean retail investors are estimated to have lost approximately 2.3 trillion Korean won (about $1.7 billion) between May 27 and August 14 through single-stock leveraged ETFs and note products tracking Samsung Electronics and SK hynix. Since July, South Korean regulators have taken measures including temporarily banning the listing of new leveraged single-stock products, raising minimum cash margin requirements, and strengthening investor education to curb the risks associated with these products. (Source: PANews)

ME News, October 7 (UTC+8), according to the Financial Times: Strong AI spending signals another lucrative earnings season for the US, from which investors are expected to benefit. Goldman Sachs forecasts that earnings of S&P 500 companies are expected to grow 27% year over year in the September quarter, driven by companies at the center of the artificial intelligence (AI) infrastructure boom. (Source: BlockBeats)

The Cardano Foundation introduced the CIP-0113 token standard, allowing regulated asset issuers to restrict recipients, freeze, seize, or transfer token holdings according to predefined rules without a network hard fork. Each transfer requires compliance checks, including identity verification and sanctions screening. Issuers can customize the rules and update them as regulations change; under the authorization mechanism, relevant parties can complete transfers without the holder’s consent.

Former Messari analyst Mason Nystrom has officially joined Multicoin Capital as an investment partner. He previously worked at Pantera Capital and Variant Fund and has a background at ConsenSys and Messari, with in-depth research on stablecoins, tokenization, and consumer crypto. Going forward, he will focus on venture capital investments in stablecoins, consumer applications, and financial infrastructure.

Muneeb Ali’s first month back as CEO of Stacks Labs will focus on five areas: expanding institutional clients, streamlining management, releasing a two-year technical roadmap, strengthening communication with large STX holders, and clarifying STX’s value capture. Institutional demand for Bitcoin Bonds is rising, and the roadmap will cover institution-grade BTC privacy and post-quantum technology. Stacks Labs will also transfer all intellectual property to the shareholderless Endowment.

ME News reported that Muneeb Ali, head of Stacks Labs, the developer of the Bitcoin Layer 2 network Stacks, announced his CEO plan, promising to transfer the relevant intellectual property to the Stacks Endowment and launch a two-year roadmap covering Bitcoin privacy and post-quantum technology. He will also hold a public conference call for token holders within 30 days.

In a TOKEN2049 discussion, Jeff Yan said that HIP-3 markets contributed approximately 51% of trading volume in July, reflecting improved product-market fit. Users are willing to migrate from traditional financial products to on-chain markets, highlighting the supply gap and trust in execution. Going forward, the focus will be on perpetual contracts for real-world assets such as crude oil and Pre-IPO opportunities. Hyperliquid aims to become open infrastructure, allowing developers to access markets and liquidity through Builder Codes rather than competing with front ends.

ME News reported that on October 7 (UTC+8), according to MyToken data, $179 million in cryptocurrency futures contracts were liquidated across the market over the past 24 hours. The total BTC liquidations amounted to $38.0139 million, ETH liquidations totaled $21.8789 million, SOL liquidations totaled $4.9133 million, and XRP liquidations totaled $2.3904 million. (Source: MyToken)

ME News reports that six hours ago, the whale mtAAVEbank.ETH sold more than 138,000 LINK, worth approximately $1.9 million, possibly to fund an 8x leveraged CRCL position on Hyperliquid. The position was once at an unrealized loss of more than $1.25 million. It still holds more than $21 million in digital assets, mainly stablecoins, with over 10% of the funds coming from Aave borrowing.

The IRS issued Revenue Procedure 2026-20, updating 2025-31 from 2025-11, clarifying that qualified investment trusts and grantor trusts may participate in PoS staking while retaining their tax benefits. Compliant staking is classified as a “property preservation activity,” and the trusts remain on the passive side, retaining their status under IRC 671–677. The safe harbor includes 14 conditions: listing on a national exchange, holding only a single digital asset, custody by a qualified custodian, an SEC-approved liquidity policy, and no hoarding of staking rewards. It applies to tax years ending on or after 2025-11-10.

ME News reported that on October 7 (UTC+8), Pudgy Penguins CEO Luca Netz posted that Abstract will gradually wind down. Starting today, Igloo Inc. will devote all its efforts to Pudgy Penguins, Pudgy NFTs, and $PENGU . Luca stated that Abstract invested tens of millions of dollars over the past two years, processed more than 300 million transactions in total, and attracted numerous global brands. However, due to insufficient DeFi ecosystem development, liquidity, and institutional participation, the project was never able to find product-market fit (PMF). As market interest declined and there was no scalable path for growth, Igloo ultimately decided to stop providing financial support for Abstract through the Pudgy Penguins business. He also stated that Igloo

CFTC Chairman Michael Selig said in a CNBC interview that the proposed rules would allow only federally regulated cryptocurrency trading platforms to offer leverage. States would be responsible solely for money transmission, and the 100x leverage commonly available outside the United States would still not be permitted in the U.S.; this time would be no exception. The CFTC also proposed two new rules aimed at establishing a U.S. cryptocurrency regulatory framework by asserting authority over leveraged and margin trading, filling the regulatory gap left by Congress’s failure to pass legislation.

Former federal prosecutor Renato Mariotti pointed out that the crypto asset FAQ published and updated by the SEC in September is merely nonbinding staff guidance for reference and has no legal force. The FAQ addresses issues including staking receipt tokens, decentralized buyback programs, and how marketing communications may be incorporated into the Howey test, but it does not name any specific assets or protocols. It reflects the views of SEC staff and requires approval by the Commission. Because the relevant rules have not yet been finalized and the CLARITY Act is stalled in Congress, industry participants must still independently rely on staff comments to assess disclosure requirements and token design.