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U.S. President Trump stated that he will soon officially ban the term "artificial intelligence (AI)" in all relevant documents.

Dragonfly partner Haseeb Qureshi published a response to DFINITY founder Dominic Williams regarding the accusation of unauthorized use of threshold ECDSA signature technology by NEAR Intents. He shared screenshots of the relevant patent application, showing that the patent was not approved until the end of July this year and had been in "patent application" status prior to that. NEAR Intents modified the relevant algorithm in September this year. Haseeb Qureshi added that if what Dominic Williams claims is true, the so-called patent infringement may only involve about a month of time, and the relevant algorithm was originally published in an academic paper licensed under CC BY, which NEAR also cited in its implementation.

According to Catcher Predict monitoring, in the market prediction on Polymarket for the event "Nets vs. Cavaliers," the "Yes" option for the sub-market "Evan Mobley: Points O/U 17.5" has experienced a sharp fluctuation in winning probability, dropping from 47.5% an hour ago to the current 31.5% (a fluctuation of 16%). Please note the impact of related breaking news.

Evan Conrad published an article on October 22 titled "The end of startups," with the subtitle "The coming credit crunch." Evan Conrad stated that within the next six months, most AI startups will be unable to purchase computing power, as global computing power is sold out. To obtain capacity, new clusters need to be contracted, and it is becoming increasingly difficult for non-investment-grade entities to secure online capacity.Evan Conrad mentioned that startups are not investment-grade, thus they are required to pay larger upfront payments. He has seen cases where 100% of the contract amount is required to be prepaid, as lenders and cloud providers are unwilling to take on additional credit risk. He believes that investment-grade tenants are scarce, and due to leveraging and selling to non-investment-grade token buyers, their ratings are downgraded, which he refers to as a credit bottleneck. He anticipates that investment-grade GPU buyers will increasingly demand that token buyers themselves be investment-grade or pay large upfront deposits.In the article, he provides an example where, at the time of writing, B300 could be purchased for $6 per hour and then sold for approximately $30 per hour for inference. He expects GPU prices to rise, and the gross margin for inference layers to decline, making it harder for clients with poor credit to obtain tokens. He proposed that lenders treat GPU clusters as collateral and stated that the physical delivery forward market SF Compute could allow lenders to use GPU hours on a liquidity book as collateral, rather than relying on a single service provider's cluster.

Kevin Boon, President of Mysten Labs, has succeeded Evan Cheng as the CEO of this Sui Layer 1 blockchain developer. Cheng will continue to serve as Chief Technology Officer and personally lead the newly established internal AI business unit. In an open letter released on October 16, Cheng stated that Boon has accepted the position and announced the news simultaneously on X. Boon previously served as Chief Legal Officer at Mysten Labs before being promoted to President. Cheng mentioned, "I planned for this day when I appointed him as President."The new AI department will have independent functions such as engineering and product development to reduce external dependencies, and will focus on trust proxy products and AI-native infrastructure, referencing the model of the on-chain financial business unit established by Mysten this summer. Cheng stated that this transition is intended to free up more time for him to focus on technical leadership while continuing to support the Sui and Walrus ecosystems, "This makes my scope of responsibilities more manageable."The goal of the AI business is to allow proxies to autonomously execute tasks within user-defined limits, with related products and services anchored to Sui and Walrus. Walrus is Mysten's decentralized storage protocol, which is set to launch its mainnet in March 2025. Cheng specifically mentioned the Verifiable Agent Arbiter developed in collaboration with Google Cloud, which was announced on October 6, aimed at allowing enterprises to prove that their AI agents operate within authorized boundaries. As designed, detailed proxy records are stored in the customer-controlled Google Cloud Storage, with cryptographic proofs stored on Walrus and coordinated on Sui, with initial enterprise deployment plans set to launch ahead of broader availability.

Upbit stated that after MANTRA was designated as a trading warning item, and following a declaration request submitted by MANTRA and the completion of the review, Upbit deemed it necessary to further review the current processing progress and decided to extend the designation period of MANTRA as a trading warning item.

According to The Block, Ripple announced a deepening of its cooperation with the global hedge fund Brevan Howard, which will adopt the multi-asset prime brokerage, clearing, and financing services provided by Ripple Prime, further expanding the use of Ripple's institutional-grade financial infrastructure and digital asset products.Brevan Howard currently manages approximately $35 billion in assets, and its Group Chief Operating Officer Alan McGroarty stated that as digital assets increasingly integrate with traditional financial markets, the demand for digital asset infrastructure from institutions continues to grow. Ripple's platform is expected to enhance the operational efficiency and capital utilization of investment teams.This cooperation is built on the existing investment relationship between the two parties. Brevan Howard had previously invested in Ripple and participated in its strategic financing round last year, which amounted to $500 million. Ripple Prime is the institutional-grade prime brokerage platform launched by Ripple after acquiring Hidden Road for $1.25 billion in 2025.

Former Dragonfly partner Omar Kanji announced his official joining of the alternative investment management platform Brevan Howard, serving as the Head of Growth Investments for its digital asset business and Portfolio Manager, and will continue to be based in New York. Previously, Omar Kanji announced his departure from Dragonfly on September 1, concluding a four-year term.

Bybit co-founder and CEO Ben Zhou stated that the Bybit team is ready to assist in various ways regarding the recent hacking incident involving Bitget. Previously, when Bybit faced a hacking attack, Bitget provided support.Ben Zhou mentioned that Bybit is currently updating the LazarusBounty platform to assist Bitget in tracking the relevant flow of funds.On February 21, 2025, Bybit experienced the largest hacking attack in cryptocurrency history at that time (approximately $1.46 billion to $1.5 billion worth of Ethereum was stolen, later attributed to the North Korean Lazarus group). After the attack, Bitget quickly transferred 40,000 ETH (approximately $10.5 million to $10.6 million at that time) to Bybit, with the funds coming from Bitget's own reserves, not user assets. This support was an interest-free, unsecured loan with no fixed repayment deadline, aimed at helping Bybit cope with withdrawal runs and replenish liquidity.

According to Catcher Predict monitoring, in the market prediction event "Levante UD vs FC Barcelona More Markets" on Polymarket, the "Over" option for the sub-market "Levante UD Second Half O/U 1.5" experienced a drastic fluctuation in winning probability, dropping from 29% an hour ago to the current 10.5% (a fluctuation of 18.5%). Please note the impact of related breaking news.

According to the news released by the X platform robot account "Grok," a large number of accounts are currently experiencing unsolicited X password reset emails, with attackers using publicly available usernames to trigger password reset forms in bulk. There are currently no confirmed signs of systems being breached or large-scale account takeovers.Grok recommends that users enable "Password Reset Protect" (Path: Settings and privacy > Security and account access > Security) and also enable two-factor authentication (2FA), while ignoring related emails and avoiding clicking on any links.

According to The Block, XRP treasury company Evernorth announced that its SEC S-4 form related to the merger with Armada has become effective, advancing the Nasdaq listing process.CEO Asheesh Birla stated, "We believe institutional finance will increasingly build on-chain, and Evernorth aims to accelerate XRP's role in this process."

Fox Business crypto reporters posted on the X platform that the Office of the Comptroller of the Currency and the Federal Deposit Insurance Corporation are advancing the finalization of a rule to define "unsafe or unsound practices" in bank regulation. This term has not been clearly defined for years, primarily relying on the broad discretion of bank examiners.Under this rule, when regulators determine that a practice is "unsafe or unsound," they must link it to actual illegal conduct or significant financial risk, thereby reducing the likelihood of pressuring banks serving legitimate clients, including crypto companies, based on vague reputational or procedural issues. This rule marks another important step towards further dismantling "Operation Chokepoint 2."

Harmony stated that it is collaborating with internal teams and relevant exchanges to attempt to stop and freeze the flow of related funds. A patch and rollback plan are also being developed. Further information will be updated in a timely manner.

Iran's state television quoted a senior advisor to the Supreme Leader, stating that the Strait of Hormuz will remain closed until relevant conditions are met.

Strategy founder Michael Saylor posted that only 2.6% of miners signaled support for BIP-110, which failed to gain widespread support. At block 961,632, its nodes will reject non-signaling blocks. Subsequently, BIP-110 will stagnate or fork into an insignificant existence, while Bitcoin will continue to operate normally. Bitcoin is functioning as designed.BIP-110 is a temporary soft fork proposal that plans to introduce 7 consensus restrictions over an effective period of about one year, including limiting the length of new script public keys, the size of certain pushed data and witness items, disabling certain Taproot extension paths, etc., in order to significantly reduce arbitrary non-payment data that can be embedded in transactions, such as inscription runes, thereby reducing node burden, suppressing junk data, and allowing Bitcoin to focus more on its monetary use.

The cryptocurrency hardware wallet manufacturer Coldcard has released an update on its customer data retention policy. Due to legal compliance requirements arising from the security incident disclosed on July 30, the company has temporarily suspended its original automatic customer data deletion mechanism.Previously, Coldcard's standard practice was to automatically clear customer records after 120 days, retaining only the user's email address and country information, while allowing customers to request early deletion of data at any time after product delivery. Coldcard stated that due to the security incident involving ongoing and potential legal proceedings, the company is obligated to retain records that may be relevant to litigation. Therefore, customer data that was originally scheduled for deletion will be temporarily retained until the law permits the resumption of normal processes.However, users can still request Coldcard to handle their personal information according to the original data retention policy. If users wish for their data not to be included in this legal retention scope, they can contact official customer service to make a request. Coldcard emphasizes that the retained data will be strictly protected, accessible only to authorized personnel, and will not be used for any purposes other than fulfilling legal obligations. The company will restore the previous automatic data deletion mechanism once legally permissible.

According to CoinDesk, RedotPay responded to the lawsuit filed by Binance, stating that it will actively defend itself. The company stated in a statement that it is aware of the legal proceedings initiated by Binance and will mount a strong defense against all allegations, denying the related accusations against the company and its co-founders, claiming that these allegations are baseless.Previously, Bloomberg reported that a Binance-affiliated entity filed a lawsuit in Hong Kong against RedotPay's co-founder, accusing him of breaching the agreement by directing over 470,000 Binance users to the RedotPay platform, resulting in approximately $473 million in losses. Binance stated in the lawsuit that it discovered in March 2026 that RedotPay allowed and encouraged the use of Binance Pay funds for unauthorized purposes without isolation, including recharging the RedotPay card. Binance's Chaintecs also filed a lawsuit against RedotPay affiliates in Singapore, with a related hearing scheduled for this Friday.Public information shows that Binance and RedotPay first reached a commercial cooperation in November 2023, which was terminated less than six months later due to Binance's claim that its funds were used for recharging RedotPay prepaid cards. The two parties reached a second agreement in March 2025, requiring Binance funds to remain isolated, allowing Binance users to exchange cryptocurrencies for fiat currency on RedotPay, conduct in-app transfers, and purchase RedotPay branded merchandise, but not to recharge the RedotPay card. Binance terminated the agreement in April 2026, stating it was part of a merchant partner review. RedotPay had previously planned to go public in the U.S. with an estimated valuation of about $4 billion, intending to raise over $1 billion.

According to the Hong Kong Securities and Futures Commission, Victory Securities Limited has been reprimanded and fined HKD 1.7 million for violating regulatory requirements, and its responsible personnel's licenses have been temporarily revoked.Previously, Hong Kong Victory Securities announced in February this year that it would close all virtual currency trading functions for users with mainland Chinese identities, retaining only withdrawal permissions and no longer supporting deposits and new transactions. The platform's gradual tightening of services for mainland users includes previous measures such as prohibiting purchases and suspending new address verification, aimed at complying with the regulatory requirements of the Hong Kong Securities and Futures Commission and relevant policies in the mainland.

According to South Korea's Chosun Ilbo, the National Tax Service of South Korea is accelerating preparations for the taxation of virtual assets by 2027, including the establishment of a new Digital Asset Comprehensive Division and the promotion of the construction of a comprehensive analysis system for virtual assets. However, the National Assembly has not yet scheduled the discussion on the petition signed by 50,000 people to abolish the virtual asset tax, and discussions have stalled.Under the current tax system, investment income from virtual assets is taxed at 22% after a deduction of 2.5 million won, while stock investors do not pay capital gains tax when buying and selling stocks on the exchange, and losses from virtual assets cannot be carried over to the next year, which has been criticized as unfair. Related discussions are expected to advance after the government's tax reform plan is announced at the end of July.