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According to Cointelegraph, Robinhood CEO Vlad Tenev stated during the third quarter earnings call on Tuesday that there is uncertainty about whether U.S. tokenization rules can be sustained in the long term, which may hinder investors from allocating large assets into the tokenized market. He described the five-year innovation exemption granted by the SEC in September as "a very positive step," but emphasized that further rule-making or legislation is needed to bring long-term regulatory certainty.Tenev noted that the uncertainty regarding the direction of the rules after five years is likely to become an obstacle to allocating large assets to this technology when communicating with clients. Tokenized stocks have previously faced resistance from traditional issuers, with 16 companies including Microsoft, Alphabet, and Goldman Sachs opposing their stocks being listed on the proposed OKXICE platform. AMC CEO Adam Aron has also publicly criticized Robinhood's tokenized stock products.Robinhood currently offers about 200 stock tokens on the Robinhood Chain, supported by the underlying stocks, but constructed in the form of tokenized debt securities, providing only economic exposure without dividend and voting rights, thus falling outside the scope of the SEC innovation exemption that requires rights parity. Tenev stated that tokenized stocks of private companies will be launched overseas, while seeking a path that complies with accredited investor restrictions within the United States. Binance Research's baseline scenario predicts that the market size could reach $34.9 billion by 2030, with approximately $4.43 billion as of September 15.

Recently, the cryptocurrency exchange Echobit has partnered with the stablecoin infrastructure platform Interlace to launch a customized ceramic stablecoin card, combining stablecoin payment functionality with personalized card designs, further enriching VIP customer benefits and expanding service scenarios beyond trading.As competition among digital asset platforms becomes increasingly diversified, enriching user scenarios and shaping differentiated VIP services have become the core of customer operations. In this collaboration, Echobit leverages Interlace's ceramic card solution to integrate stablecoin payments with everyday consumption scenarios, and through unique materials and exclusive designs, creates a cardholder experience that differs from traditional cards, providing VIP customers with more recognizable exclusive benefits.As a stablecoin infrastructure platform, Interlace focuses on issuing card infrastructure, helping exchanges, wallets, fintech platforms, and financial institutions quickly launch their own branded card projects through API and white-label solutions, supporting virtual cards, physical cards, and customized card designs. As of now, Interlace has issued over 10 million cards, continuously assisting global partners in accelerating the implementation of stablecoin payments.

Goldman Sachs' latest research shows that over the past three weeks, semiconductor stock exposure has been able to explain about 54% of the return performance differences between different asset classes, while oil price exposure accounts for only 2%. As the influence of AI trading continues to expand, technology stocks are becoming an important factor driving global market risk appetite and asset performance differentiation.Goldman Sachs pointed out that recent investor risk appetite has been highly synchronized with the relative performance of large technology stocks. Last week, concerns about AI investment returns, financing costs, and capital expenditures intensified, leading to a sell-off in technology stocks and corporate bonds, with Goldman Sachs' risk appetite indicator falling to its lowest level since April 2025. The South Korean stock market has become a typical case of this impact, with the KOSPI rising 3.1% on Tuesday, and SK Hynix and Samsung Electronics increasing by 5.2% and 4.2%, respectively.Due to the high weight of semiconductor stocks in the Korea Composite Stock Price Index, changes in global AI investment expectations directly affect local market performance. Goldman Sachs emphasized that the 54% and 2% figures reflect a statistical relationship within a specific time window and do not imply that AI factors long-term determine global market fluctuations; the impact of high oil prices on inflation, monetary policy, and asset pricing cannot be ignored. Major technology companies such as Microsoft, Google, and Amazon are about to announce their earnings reports, and the market will focus on whether AI demand can continue to grow and whether massive capital expenditures can be converted into actual profits.

According to the latest stock derivatives exchange rankings released by RootData, the three exchanges with the largest spreads among the listed exchanges are HTX, Crypto.com, and BingX, with spreads of 0.44%, 0.315%, and 0.297%, respectively.It is reported that this spread is the weighted spread based on the 24-hour trading volume, and a higher value typically indicates higher trading costs.

The issue surrounding the military version of the "Starlink" satellite communication system within Ukraine has led to differing opinions from the United States, Ukraine, and SpaceX. Ukrainian President Zelensky stated that the Ukrainian military faces speed limits when using "Starlink," while U.S. President Trump claimed he was unaware and stated that the speed limits had been lifted. SpaceX CEO Musk indicated that any restrictions are determined by the U.S. military and ultimately depend on the U.S. President.

QCP stated that the credit risks related to AI infrastructure are accelerating in repricing. CoreWeave's bond yield has risen to about 15% this year, as the market begins to reassess high financing costs and debt sustainability.The related pressure has spread from CoreWeave to the broader neocloud infrastructure sector, dragging down the performance of tech stocks and crypto assets, while pushing funds towards long-term U.S. Treasury bonds.

According to a report by Cointelegraph, DWF Labs pointed out in a research report released on Thursday that the daily capital flow of the U.S. spot Bitcoin ETF is difficult to predict for Bitcoin's subsequent trends, with investors more inclined to buy after price increases and withdraw during declines.The study covers 694 trading days since the launch of the U.S. Bitcoin spot ETF in January 2024: in 8 instances where the Bitcoin price fell by 15%, there were net outflows of ETF funds in 7 of those cases; while in all 9 instances where the price rose by 15%, there were net inflows of funds.DWF Labs concluded that ETF capital flows are more about confirming market trends rather than predicting them in advance. Data shows that the correlation coefficient of the day's ETF capital flow with the price changes of Bitcoin over the previous 5 trading days is 0.54, but the correlation coefficient with the price changes over the subsequent 5 trading days is only 0.03. From October 2025 to February 2026, the net outflow from Bitcoin ETFs was approximately $6.9 billion, and during the market decline from May to June 2026, the net outflow was about $8.2 billion.DWF Labs also noted that some ETF trades may involve buying fund shares while simultaneously shorting Bitcoin through futures on the Chicago Mercantile Exchange (CME) as a hedging strategy, so the capital flow does not directly reflect investors' true bullish or bearish positions.

On-chain data analyst XWIN cited CryptoQuant data indicating that Bitcoin's current on-chain data is showing a significant divergence between whale behavior and the spot market. Although large holders have begun to accumulate again, demand in the spot market remains weak, and the market is transitioning from "seller exhaustion" to a potential bottom. XWIN stated that on-chain data shows positive accumulation signals. Holders of 1,000 to 10,000 Bitcoins have significantly reversed their 60-day net accumulation from negative 62,600 to positive 5,230, indicating that major whales are shifting from a distribution model back to accumulation.At the same time, the USDT reserves on the Binance trading platform have surged from about 790 million USD to 1.76 billion USD, suggesting that potential buying power in the market is increasing. However, spot buying in the U.S. has not kept pace. The Coinbase premium index is currently around -0.1416%, and weekly trading platform flow has turned into a net inflow of 8,428 BTC. Additionally, the short-term holder spent output profit ratio (STH-SOPR) hovers around 0.9982, indicating that short-term holders are still experiencing slight losses near the breakeven point and are choosing to sell.Analysts believe that while the underlying structure is improving, stronger spot demand is still urgently needed to spark a sustainable rebound. They suggest that investors focus on three key signals in the future: the trend of the Coinbase premium index, changes in exchange net flow, and whether the STH-SOPR can successfully rise above the 1 mark.

According to the Binance Research weekly report, the U.S. CPI rose to 3.7% in September, with energy contributing more than one-third, and the PPI increased year-on-year to 6.3%. Based on the EIA oil price path, the overall CPI may peak at around 3.9% in October and fall back to about 2.6% by March 2027.In terms of AI, Anthropic's revenue grew by 45% quarter-on-quarter in the third quarter, significantly lower than the previous growth rate of more than double; its Binance Pre-IPO contracts fell by 8.8% over two trading days, while the yield on CoreWeave bonds maturing in 2032 rose to about 16%. Binance Research believes that the cooling demand for AI and rising financing costs are simultaneously affecting AI infrastructure transactions.

According to CriptoNoticias, the price of USDT in Argentina has surpassed 1600 pesos, with the price difference from the official exchange rate widening to 6.6%.This round of increase occurred after Argentine President Milei mentioned the possibility of a sell-off of the national currency (currency run) in 2027.

According to data from mempool.space, Bitcoin completed its latest mining difficulty adjustment at block height 971712, with the difficulty increased by 5.92% to 140.58T. The previous adjustment was a slight decrease of 0.03% to 132.72T.

According to the official blog of Avalanche, the Dubai International Financial Centre (DIFC) court has announced the adoption of Avalanche blockchain technology to provide globally verifiable digital authenticity certificates for its court orders and hearing records.The system binds encrypted hashes of documents to unique NFT certificates on the Avalanche C-Chain, allowing any institution to verify document authenticity within seconds without contacting the court, while the document content and confidential information are not stored on-chain, maintaining complete privacy.Avalanche's settlement speed is less than one second, and records are non-reversible. In addition, the Telecommunications and Digital Government Regulatory Authority (TDRA) of the UAE is also collaborating with Ava Labs to integrate Avalanche technology into the Digital Vault blockchain layer of the national digital identity platform UAE PASS, which serves over 12.5 million users, further promoting the construction of a credible verification system for government documents on-chain in the UAE.

Jiang Zhuoer, the founder of the Liebit Mining Pool, stated in a post that he currently believes Bitcoin is very likely to fall below $80,000, but it is very unlikely to drop below $77,000.$77,000 is both the point of control (POC) for the trading volume distribution of the previous fluctuation range and the POC since the rise on August 19, which is the price level with the largest trading volume in the corresponding range. He also believes that the market is very unlikely to drop below $75,000, allowing everyone to buy in at a comfortable position.

Investment bank TD Cowen's Washington research group Managing Director Jaret Seiberg stated in a report released on Monday that the proposed rulemaking advance notice issued by the CFTC last week is a positive step for crypto platforms, but the agency may not complete the rulemaking until early 2028. As the 2028 election cycle approaches, there is a risk that the rule may ultimately not be implemented. Seiberg noted, "Time is running out," and expects that the CFTC will not issue proposals until the end of the first quarter or early second quarter of 2027, with final rules possibly not being finalized until early 2028.Last week, the CFTC proposed a federal regulatory framework for crypto platforms but avoided direct jurisdiction over spot market trading. According to Seiberg, the proposed rules will require platforms to maintain "reserve proof audits" and grant the CFTC jurisdiction over state-licensed platforms. Previously, the U.S. Senate failed to pass legislation that would grant the CFTC broad powers over spot crypto trading in a preliminary vote, leading the CFTC and SEC to intervene in regulating the crypto industry, including the introduction of long-awaited innovation exemptions, but both agencies lack the permanence that legislation could provide.Seiberg also pointed out that if the CFTC decides to expedite the rulemaking process, it may actually increase the risk of court intervention. He stated that speeding up this process would raise the risk of judges blocking the rule on procedural grounds, and even if the agency is cautious enough, legal challenges could extend beyond 2028.

Zhao Changpeng stated that users should pay attention to asset security (Stay SAFU out there) and clarified that he does not oppose hardware wallets or self-custody.Zhao Changpeng added that different wallets and products are suitable for different use cases, and their security implications and best practices vary. He also disclosed that YZi Labs has invested in hardware wallet projects such as OneKey and SafePal, as well as mobile wallet products like Trust Wallet.

Bitwise CEO Hunter Horsley stated in an interview with The Block at the Digital Asset Summit 2026 Asia that the failure of the Bitwise spot Dogecoin ETF is "tragic," highlighting the "difference" between the users served by spot ETFs and those served by crypto brokerage applications. The Bitwise Dogecoin ETF (BWOW) was listed on the New York Stock Exchange in November 2025 and is set to close less than a year after its launch, with trading halting after October 14. According to SoSoValue data, as of October 7, the fund managed approximately $725,900 in assets, with a trading volume of $51,500 in September.Horsley expressed that he likes and holds Dogecoin, believing that it is historically a useless token but represents something and is a reasonable asset; however, it has shown no progress as an ETF. He thinks ETF users do not want to invest money in Dogecoin, but this may change over time; he denied that Bitwise targeted the wrong audience and described crypto ETFs as a channel. In contrast, he is more confident about the success of the Bitwise Solana Staking ETF (BSOL), stating that its pioneering staking feature contributed to its success, but the $1.3 billion in net assets ultimately reflects a bet on Solana.AI is currently one of Bitwise's focuses. Horsley stated that crypto and AI originate from the same source, with the former reconstructing financial services as software and the latter enabling machines to perform tasks previously done by humans;

Digital Asset co-founder and CEO Yuval Rooz stated at the Token2049 conference in Singapore that the crypto industry should leverage the current regulatory environment to accelerate institutional adoption, believing that the widespread use of blockchain will make it harder for future governments to reverse industry progress. He compared this opportunity to Uber and Airbnb, stating that both companies had established themselves before policymakers effectively restricted them, saying, "By the time people react and decide to legislate against these companies, it will be too late."Rooz indicated that the industry should ensure blockchain is widely used so that no matter what happens in 2028, "there is no turning back." The next U.S. presidential election is scheduled for November 7, 2028, which may bring changes in government and regulatory priorities. This statement comes in the context of the CLARITY Act failing to advance in the Senate procedural vote in September, while the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) have been advancing crypto regulation based on existing authority.In the same Token2049 panel discussion, Binance co-CEO Richard Teng expressed hope that the CLARITY Act could still become law, believing that legislation could prevent regulatory backtracking and encourage institutional entry, calling the possibility of reversing current progress the industry's "greatest fear." Franklin Templeton CEO Jenny Johnson stated that legislation would provide greater certainty, but the industry should not rely on the passage of the CLARITY Act, as the SEC and CFTC are already working to provide regulatory clarity to sustain innovation and institutional adoption.

According to the market intelligence platform Liquid247.xyz, the current price of Bitcoin is approximately $84,340. The near-term buy depth for BTC on Binance is about $16.1618 million, with sell orders around $10.3911 million, resulting in a net buy of approximately $5.7707 million; the perpetual buy orders on Binance are about $44.2172 million, with sell orders around $45.5145 million, resulting in a net sell of approximately $1.2973 million; the spot buy orders on Coinbase are about $26.6829 million, with sell orders around $23.6883 million, resulting in a net buy of approximately $2.9946 million.The perpetual buy orders on OKX are about $15.989 million, with sell orders around $20.2283 million, resulting in a net sell of approximately $4.2393 million; Hyperliquid has perpetual buy orders of only about $1.8911 million, with sell orders around $12.1844 million, resulting in a net sell of approximately $10.2933 million. The near-term sell orders on Hyperliquid are significantly thicker compared to buy orders, and if a large market order occurs, the slippage on the Hyperliquid side may be greater.