init

According to the official website of DTCC, the Depository Trust & Clearing Corporation in the United States announced that its tokenization service (DTCC Tokenization Service) has been launched, with the first batch of 34 tokenizable securities. The tokens are backed 1:1 by securities held in DTC custody, and holders enjoy the same legal rights and economic interests as the underlying securities.The traditional market and on-chain use the same CUSIP code, allowing for 24/7 peer-to-peer transfers between DTC registered wallets. This service includes built-in compliance controls and can track ownership in near real-time. The first batch of wallet and application partners includes BitGo, Blockdaemon, Fireblocks, HashKey, Kaleido, Prometheum, Talos, Temple, and Tradeweb. The scale of DTC custodial assets is approximately $30 trillion.

The South Korean police have launched a preliminary investigation into the hacking incidents involving securities companies and cryptocurrency exchanges. Previously, 16 financial institutions, including KB Kookmin Bank, were also attacked by hackers, resulting in the leakage of approximately 100,000 personal information records, including ID numbers, account numbers, and addresses.The police stated that they will compare the methods used in old and new cases to verify their correlation and do not rule out the possibility that they were carried out by the same attacker.

Initia officially stated that, with the support of the Initia Foundation, the 1:1 asset backing of the affected assets in the security incident on October 23 will be fully restored when the chain resumes operation.The Initia Foundation has approved funding to cover the reserve shortfall of Noble USDC, WETH, and AUSD0 used as collateral for iUSD, involving up to 1.08 million USDC, 105 ETH, and 1.4 million AUSD0 respectively. The specific amounts still need to be verified and receive final transfer approval.

According to Initia monitoring, a security fix has been drafted for the vulnerability discovered on October 23, and audits are currently being conducted with security partners.After the audit is completed, Initia will announce a specific plan detailing how to restore support for the affected assets and orderly restart the Initia L1 and Rollup networks. This process is expected to be completed in the coming days.

According to "Du Jia," Soul is about to launch a real-time interactive AI audio and video integrated product called "Loxinity." This product includes a speech synthesis model, Loxi Speech, and a video generation model, Loxi Avatar, focusing on continuous dialogue scenarios, emphasizing tone pauses and emotional fluctuations to address the issues of heavy reading feel and disconnection between audio and visuals in similar products.In terms of functionality, the voice section supports voice cloning, emotion tagging, and API integration; the digital human section allows users to upload images to customize their avatars, and input text or audio to generate digital human videos. Soul previously released the emotion-oriented large model SoulX in 2023 and launched an intelligent audio and video real-time interaction solution with Huawei Cloud in September this year. The launch of Loxinity signifies that Soul is productizing the interactive capabilities refined in its internal social scenarios for the B-end market.

According to announcements from Upbit and Bithumb, both South Korean cryptocurrency exchanges have listed Initia (INIT) as a trading warning asset.The announcement stated that relevant wallets or distributed ledgers have been found to have security incidents such as hacking attacks, the reasons for which are yet to be determined or resolved, potentially leading to user asset losses. Currently, the deposit and withdrawal services for INIT have been suspended on both exchanges.

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.

Initia posted on platform X that on October 23 at 22:59 (UTC+8), attackers exploited a caching vulnerability in the Initia MoveVM script to bypass security checks, forging MoveVM states to credit themselves with unsupported WETH, iUSD, and USDC, while the total supply of the related tokens remained unchanged; INIT was not minted, and the total supply was unaffected.Before the network was paused, the attackers had transferred out approximately $2.7 million in assets, including 105 WETH transferred via LayerZero and about 1.4 million AUSD0, as well as approximately 1.08 million USDC transferred via Noble and CCTP, which were then exchanged for 1135.52 ETH, currently held at the Ethereum address 0x358ef0130f7a5aa516dcd81bdc80b18cde41cac8. Initia stated that the security fix is expected to be completed and audited within a few days, and asset recovery efforts are being advanced with security partners. L1 and Rollup remain in a paused state, and a complete post-mortem report will be released subsequently.

According to anonymous security analyst Spreek, the Initia chain has been hacked, resulting in a large number of tokens being infinitely minted. So far, the hacker has cashed out approximately 2.6 million dollars, and more funds are still being transferred.

The Central Bank of Malaysia and the Bank of Thailand joined the Singapore-led BLOOM initiative on Friday as members of the policymakers. BLOOM stands for Borderless, Liquid, Open, Online, Multi-currency, and is a public-private partnership initiative aimed at helping financial institutions utilize stablecoins and tokenized deposits for cross-border payments. According to the Monetary Authority of Singapore, the initiative aims to reduce costs and help institutions bring services to market faster by decreasing the need for financial institutions to establish arrangements with each counterparty or market individually.The Monetary Authority of Singapore launched BLOOM in October 2025, building on Project Orchid, which was initiated in 2021 to explore the application of a digital Singapore dollar. BLOOM's work also covers corporate cash management, trade financing, and payments executed by AI agents within preset limits, with participants including Airwallex, Mastercard, Ripple, Visa, and the World Bank Group. Additionally, the Central Bank of Malaysia announced in February that three initiatives would test the ringgit stablecoin and tokenized deposits for domestic and cross-border wholesale payments in 2026.

According to Jinshi, SK Group's newly established data center business unit SK Hyper is in talks with large technology companies and financial investors for financing, planning to raise funds for a data center construction project expected to cost $350 billion. SK Hyper has begun discussions with potential partners, aiming to build data centers in South Korea with a total capacity of 15 gigawatts by 2035.SK Hyper CEO Chung Suk-geun stated that the first phase of the 5-gigawatt construction alone requires $350 billion, which includes equipment costs. The company plans to complete its first round of external financing by the end of this year or early 2027, and will continue to raise funds over the next three to four years while sharing the overall construction costs with data center tenants and external investors.

DFINITY founder Dom posted on X that after further investigation, it was found that the key components used by NEAR Intents involve DFINITY's proprietary technology, and he accused NEAR of unauthorized use of technology results that are only authorized for Internet Computer.Dom stated that the relevant technology involves a threshold ECDSA algorithm used for cross-chain asset custody and transaction signing, which can increase the signing speed to about 3 times that of other solutions; he also claimed that NEAR deployed the relevant technology on 8 servers, failing to achieve the decentralization and security it advertised. Dom further indicated that GitHub records show that NEAR is recently attempting to downgrade the relevant algorithm to a solution that is about 3 times slower, and he believes this move may be related to concerns about its use of the relevant technology.He stated that this matter involves potential legal liability, believing that DFINITY and the ICP community have been harmed as a result, and hopes that both parties can resolve the dispute. The above content currently represents a unilateral accusation from the DFINITY founder, and whether the use of the relevant technology constitutes infringement, as well as whether NEAR has the security and decentralization issues it claims, still needs further verification.

Last week, the number of new applications for unemployment benefits in the United States fell to the lowest level in nearly 57 years, with layoffs decreasing and the labor market stabilizing. Data from the U.S. Department of Labor today shows that for the week ending October 17, the preliminary number of applications for unemployment benefits in various states decreased by 6,000, adjusted for seasonal variations, to 194,000. This figure is close to the 189,000 level reached in mid-July, the lowest since 1969.Economists believe that strong domestic demand in the United States has driven profit increases, protecting workers from layoffs. However, as the war between the U.S. and Iran intensifies, tightening financial conditions and rising interest rates may suppress the performance of the labor market next year.

For the week ending October 17, the number of initial unemployment claims in the United States was 194,000, lower than the expected 200,000, and the previous value was 199,000.

Ukrainian President Zelensky stated that Russia has agreed to hold a new round of trilateral talks between the U.S., Ukraine, and Russia. The U.S. proposed to initiate the talks as soon as possible, which Ukraine supports, and the meeting may take place in early November or even earlier. Zelensky supports several peace initiatives but remains cautious about the prospects of the talks.

BitGo announced the establishment of a new research and innovation department, BitGo Labs, aimed at designing, launching, and validating the next breakthrough applications in the digital asset space. BitGo stated that this department focuses on use cases that can only be achieved through cryptographic technology, such as interest rates and yields that traditional systems cannot provide, and utilizes AI to complete builds in months rather than years.Initially, BitGo Labs will focus on the intersection of AI and cryptocurrency. BitGo pointed out that the AI economy still requires cryptographic financial infrastructure to handle micropayments, achieve instant settlements, and ensure asset security. At the launch of the department, several related projects were introduced, including the consumer application Gokubu, which uses AI-driven card optimization for user spending and is now live, allowing users to be assigned personalized AI financial assistants to help them obtain better rewards and transaction value.BitGo stated that in addition to the initial projects, BitGo Labs will also release research reports, protocol prototypes, and reference implementations, and collaborate with developers, scholars, and institutions in the cryptocurrency and AI communities. BitGo CEO Mike Belshe previously stated in an interview that AI agents are likely to use stablecoins as their native currency, and human control over AI will last longer than some predict. This statement responded to Maelstrom Chief Investment Officer Arthur Hayes' view that digital currencies like stablecoins cannot serve as the native currency for AI agents because they cannot be directly converted into computing power.

The General Office of the Central Committee of the Communist Party of China and the General Office of the State Council issued opinions to comprehensively implement the "Artificial Intelligence +" action, promoting the all-round empowerment of various industries by artificial intelligence. The opinions emphasize the deep integration of technological innovation and industrial innovation, promote the intelligent and green development of the manufacturing industry, and accelerate the promotion and application of agricultural scientific and technological achievements.

According to a report by Reuters cited by Phoenix Technology, Qualcomm CEO Cristiano Amon informed employees in an internal memo that the company will initiate performance-focused global layoffs following the annual employee evaluations, with notifications set to begin in November. The memo reviewed by Reuters was sent out on Monday, and Amon stated that this move aims to establish a stronger performance culture and address the company's ongoing failure to meet expectations.The memo did not disclose the number of layoffs, and Reuters is currently unable to determine the scale. Amon mentioned that the layoffs will take into account business priorities, organizational needs, skills, and expertise; as the business expands, the required capabilities and skills are also changing, and it is essential to have the right people in the right positions. Qualcomm has not yet responded to Reuters' request for comment. As of September 2025, Qualcomm has approximately 52,000 employees worldwide, most of whom are full-time, with the fiscal year typically ending in late September.As one of the world's largest smartphone chip manufacturers, Qualcomm has been impacted this year by sluggish sales of consumer electronics, and soaring memory chip prices have suppressed demand in key markets. Since the beginning of the year, Qualcomm's stock price has increased by about 1.5%, while the S&P 500 index has risen by over 12% during the same period, and the Philadelphia Semiconductor Index has seen an increase of nearly 60%. On Tuesday, Qualcomm's stock price fell by about 1% in pre-market trading. In the most recent earnings report released in late July, Qualcomm projected that quarterly profits would fall below market expectations and indicated that revenue from Apple products would decline faster than previously anticipated, while stating that by fiscal year 2027, growth in data centers and other non-mobile businesses would be sufficient to offset the aforementioned losses and provide additional growth.

The NEAR ecosystem governance proposal HSP-029 has entered the voting stage, proposing to gradually reduce the maximum annual issuance rate of NEAR tokens from 2.5% to 1.6%. This proposal was put forward by SVRN CEO Sal Ternullo, planning to linearly decrease by approximately 3.75 basis points per epoch over 24 months, while maintaining a 90/10 allocation ratio between stakers and the treasury. After the vote passes, there will be a 90-day grace period before the reduction officially begins.The proposal's calculations indicate that this plan is expected to reduce the issuance of approximately 11.8 million NEAR tokens over two years, with a cumulative reduction of about 66.1 million tokens over six years, equivalent to a 4.36% decrease in supply compared to the current situation. The annualized staking yield will gradually decrease from the current 5.268% to 3.372%. The author points out that this move aims to reduce the degree of dilution for non-staking holders and responds to discussions regarding the protocol's discretion risk following the withdrawal of the previous Sovereign Fund proposal.This proposal must go through a dual process to take effect: after passing the House of Stake vote, validators must also independently adopt it through the standard protocol upgrade process. The proposal cites Solana's SGP-0002, which was passed in August 2026 with a staking weight approval of 67.001% for a similar issuance reduction, as a precedent. Currently, the NEAR network has a total of 406 active validators, with a staking rate of 42.71%.

According to Israel's Channel 12, the proposal submitted by the Chief of Staff of the Pakistan Army to senior Iranian officials has been approved by the United States, and Iran has also tentatively agreed. The proposal partially responds to Iran's demand for the return of frozen funds, stipulating that the interest generated from the 6 billion dollars frozen in a Qatari bank will be transferred to Iran.Affected by this news, both WTI and Brent crude oil prices fell short-term by about 0.8 dollars, currently reported at 97.51 dollars per barrel and 105.76 dollars per barrel, respectively. On the news front, reports indicate that the U.S. and Iran have tentatively recognized Pakistan's mediation proposal.