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Tom Lee stated in an interview that approximately 99% of financial activities are still operating on traditional financial infrastructure, but this situation may create misleading short-term biases, causing investors and businesses to view cryptocurrencies as a niche area and underestimate the potential speed of transformation in the financial system.Tom Lee believes that the current dominance of traditional financial infrastructure does not mean that this pattern will be maintained in the long term. If financial activities gradually shift towards cryptocurrency infrastructure, institutions' reliance on the existing market structure may lead them to underestimate the speed of industry changes. He also warned that banks that have not established cryptocurrency business channels or formulated relevant strategies may face competitive disadvantages as cryptocurrency adoption increases.

The Office of the Comptroller of the Currency (OCC) has finalized the implementation rules for the GENIUS Act, applicable to licensed stablecoin issuers, foreign issuers under OCC jurisdiction, and certain custodial activities of regulated entities, covering reserve support, redemption, and risk management. Treasury Secretary Scott Bessent described the legislation as a "watershed moment for the U.S. financial industry," comparing it to the National Currency Act of 1863.The final rules do not include provisions for the Bank Secrecy Act, anti-money laundering, and OFAC sanctions, which will be addressed through subsequent rules coordinated with the Treasury Department. The GENIUS Act was signed into law in July 2025, and regulators failed to establish rules by the deadline of July 18, 2026; the Federal Reserve proposed two related rules in September 2026. Both the GENIUS Act and the OCC final rules are set to take effect on January 18, 2027, and the OCC has not yet announced the timeline for accepting issuer applications and exemption requests.

According to the market information platform Liquid247.xyz, the current price of ETH is $2,343.23. The thickest order book is on Binance perpetual: sell orders amount to $59.4484 million, buy orders amount to $56.7652 million, with sell orders exceeding buy orders by $2.6832 million.The Binance spot sell orders are also thicker than buy orders, but the scale is smaller. If a large buy or sell suddenly occurs, exchanges with thinner order books will be affected first, and price fluctuations will be more pronounced.

According to Coinglass data, the current whale holdings on the Hyperliquid platform amount to $8.122 billion, with long positions at $3.781 billion, accounting for 46.56% of the holdings, and short positions at $4.341 billion, accounting for 53.44%. The profit and loss for long positions is $94.1483 million, while for short positions it is -$40.1506 million.Among them, the whale address 0x5b5d..60 has shorted ETH with a 5x leverage at a price of $2,322.74, currently showing an unrealized profit and loss of -$2.4323 million.

According to the market information platform Liquid247.xyz, the current price of BTC is $80,588. The thickest order book is on Binance spot: sell orders amount to $14,690,600, while buy orders are $9,380,300, resulting in a sell order surplus of $5,310,300.Coinbase's spot sell orders are also thicker than buy orders, but the scale is smaller than that of Binance spot. If a large buy or sell order suddenly appears, exchanges with thinner order books will be affected first, and price fluctuations will be more pronounced.

The co-founder of the cryptocurrency trading app Fomo, Se Yong Park, posted on platform X stating that the current number of tokens in the market has become excessive. The team has no intention of launching new tokens but hopes to help build a future that allows the strongest communities to continue to grow and thrive.Se Yong Park had previously denied that Fomo plans to launch a Solana ecosystem token issuance platform and stated that the team has no intention of competing with Pump.fun through related products.

Hyperliquid announced that it has adjusted the new priority mechanism based on user feedback on the test network improvements: the noop and scheduleCancel operations no longer affect the priority of other operations, while operations other than noop, scheduleCancel, cancel, cancelByCloid, order, modify, and batchModify will lower the priority of other operations before submission is completed.In addition, Hyperliquid also announced the addition of the cDeposit2 interface operation, which is similar to cDeposit but supports agent-signed.

Trader Doctor Profit stated that although some market participants mocked Bitcoin when it fell from $84,000 to below $80,000, he has viewed the range of $80,000 to $81,000 as an opportunity to increase long positions in Bitcoin for several weeks now. The current position is focused on long-term trends rather than seeking a short-term increase of $4,000.Doctor Profit revealed that he still holds all of his spot positions established around $60,000, with the next target price maintained at $94,000. If BTC falls back to around $80,000 again, he will continue to increase long positions.

Solana Company announced that it has been recognized as a strategic enterprise by the Hong Kong Special Administrative Region Government's Office for Attracting Strategic Enterprises (OASES) and has been included in the seventh batch of strategic enterprises. The company is the only blockchain infrastructure enterprise introduced by this office in 2026.Solana Company has established an office in Hong Kong, serving as the company's Asia-Pacific headquarters and regional operations base, with the management team overseeing Asia-Pacific business. The company plans to conduct validator node operations in Hong Kong through the Pacific Backbone initiative.

Long-time Bitcoin critic Peter Schiff stated that Bitcoin has started to weaken again, and the next support level may be $75,000. Bitcoin investors may face a rather tough weekend, especially ETF investors, who will have to wait until Monday to sell.

Elon Musk stated that Starlink remains crucial for Ukraine's defense, as it is currently the only communication system that cannot be interfered with or destroyed.If Starlink were to be shut down, the front lines in Ukraine would collapse immediately. This is not a threat, just a statement of fact.

Strategy, Strive, and other Bitcoin treasury companies support the purchase of 135,979 Bitcoins through preferred stock financing, accounting for over 0.5% of the maximum Bitcoin supply; the related preferred stock market size is approximately $12 billion. Perpetual preferred stock has no fixed maturity date, which can alleviate refinancing pressure and attract income-oriented investors who are unwilling to hold Bitcoin directly; however, an increase in issuance size will also raise dividend expenses.Continuous financing for Bitcoin purchases relies on preferred stock trading at or near par value. If the price falls below par, the attractiveness of new issuances may decline, and the company may also turn to buybacks. CoinShares Research Director James Butterfill stated that Strategy's latest weekly report shows the company spent $193 million to repurchase STRC, while simultaneously buying 267 Bitcoins and increasing the preferred stock buyback authorization limit to $3 billion. Buybacks can reduce future dividend costs but may also compete for funds with Bitcoin purchases.Bitwise Research Director Ryan Rasmussen expects that ETFs will remain a larger source of Bitcoin demand in the long term, while perpetual preferred stock covers different groups of income-oriented investors, providing another source of demand support for the market. Butterfill believes that preferred stock may amplify market cycles: when financing conditions are favorable, it supports Bitcoin purchases, but when market sentiment weakens, this support may diminish.

According to Arkham monitoring, a certain whale has liquidated approximately 2.597 million USD worth of ENA, MNT, ETH, and LDO that were purchased about 4 months ago, realizing a profit of approximately 340,000 USD compared to a purchase cost of about 2.257 million USD, including:ENA was bought for about 433,800 USD and sold for about 946,900 USD, realizing a profit of about 513,100 USD;MNT was bought for about 166,700 USD and sold for about 138,000 USD, incurring a loss of about 28,700 USD;ETH was bought for about 1.47 million USD and sold for about 1.29 million USD, incurring a loss of about 180,000 USD;LDO was bought for about 186,700 USD and sold for about 222,100 USD, realizing a profit of about 35,400 USD.

According to CoinGlass data, the Coinbase Bitcoin premium index has recorded negative values for 31 consecutive days, with the latest at -0.1353%, indicating that purchasing power in the U.S. market has once again fallen into a slump.Previously, on August 24, the Coinbase Bitcoin premium index reappeared with a positive signal for the first time since May 19, reporting at 0.0052%, momentarily ending the longest historical negative premium period of 97 days. The Coinbase Bitcoin premium index is used to measure the price difference of Bitcoin between Coinbase Pro and Binance. A sustained negative index typically means that Coinbase's pricing is relatively low, which may reflect weak buying interest or significant selling pressure in the U.S. market, but it is not advisable to directly conclude that institutional funds are flowing out based solely on this indicator.

According to Bloomberg, the United States is increasing deployments in preparation for a possible resumption of military strikes against Iran. Trump has repeatedly hinted that U.S. forces may resume strikes against Iran after the November 3 midterm elections and has sent a third aircraft carrier strike group and an additional 10,000 sailors and Marines toward the Persian Gulf to provide commanders with more options, although the exact timing remains uncertain.U.S. Secretary of Defense Mark Esper visited Israel this week without prior announcement and met with Netanyahu. Israel will hold elections on October 27. Meanwhile, after Iran-backed Houthi forces expanded the conflict to Saudi Arabia, attacking airports and energy facilities, the U.S. State Department has ordered the evacuation of some diplomatic personnel and their families stationed in Saudi Arabia.A source familiar with Iran's thinking stated that Iran is preparing for a new round of bombings that may occur before and after the U.S. midterm elections and is planning retaliatory actions in the Middle East, including against Israel and the United Arab Emirates. This individual believes that the period from the end of the U.S. elections until the new Congress is sworn in in January will be the most difficult phase, with a way out being to reach an agreement that allows both sides to claim victory. Some officials from Gulf countries are concerned that the intensity of the conflict after its resumption may exceed that before the pause.Recent diplomatic attempts to end the conflict have failed to yield results. Iranian Foreign Minister Mohammad Javad Zarif stated this week that if there is sufficient evidence showing that the U.S. genuinely wishes to reach a fair, dignified, and permanent resolution to end the conflict, Iran is willing to give diplomacy another chance, but he also noted that there is currently not much reason to expect progress.The conflict has disrupted energy transportation in the Persian Gulf, pushing Brent crude oil prices up more than 80% this year and raising U.S. gasoline prices and living costs. A Pew Research Center survey conducted from September 28 to October 4 shows that about two-thirds of Americans disapprove of Trump's handling of the Iran conflict, and about half of respondents expect the war to last more than a year. Reports indicate that concerns over military escalation are once again driving up oil prices and affecting the Republican Party's prospects in the midterm elections.

Bitcoin News posted on the X platform that after Bitcoin closed below the 50-day moving average, the price hovered around $80,600, marking the first time since August that it fell below this average, ending a streak of 66 days above it. Currently, the price is still about 10% higher than the 200-day moving average.The U.S. spot Bitcoin ETF saw a net outflow of $137.9 million on Friday, marking two consecutive trading days of net outflows. Previously, on Thursday, there was a net outflow of $635.6 million, the largest single-day outflow since June. The total net outflow over the two trading days is approximately $773.5 million.

The innovation exemption for tokenized securities trading venues launched by the U.S. SEC in September is sparking controversy within the industry regarding blockchain qualification standards. This exemption allows eligible companies to trade tokenized U.S. stocks without registering as traditional securities exchanges, but requires their smart contracts to be auditable, public, and deployed on a public, permissionless blockchain.Currently, three companies have submitted operational intent notices to the SEC. TSV LLC plans to use the privacy-focused Canton Network; OKXICE and Kephas Corp. intend to utilize their respective enterprise group's developed Ethereum Layer 2 networks.In a letter submitted on Thursday, the Solana Policy Institute requested the SEC to tighten the definition of "permissionless," focusing on who actually controls the blockchain, including who can validate or block transactions and modify network rules. Hedera advocates for an expansion of the exemption's scope, arguing that only authorized entities should participate in validation, which should not disqualify their network.The Securities Industry and Financial Markets Association (SIFMA) also called for clarification on which blockchains are eligible and questioned whether stock tokenization should require explicit prior consent from the issuing company, rather than requiring companies to opt out. The financial regulatory advocacy group Better Markets urged the SEC to withdraw the exemption and instead engage in formal rulemaking.An SEC official stated that companies can begin operations 30 days after submitting a notice, provided they meet the exemption criteria, without waiting for SEC approval, which does not imply SEC endorsement of their chosen blockchain. The official noted that the regulatory agency intends to maintain a broad definition to allow space for companies to experiment; further frequently asked questions may be released, but substantive adjustments would require action from the commission.Meanwhile, more companies are opposing the tokenization of their stocks. As of Friday, among the 62 companies initially listed by OKXICE, 22 have raised objections, exceeding one-third. New objectors include Wells Fargo, Arm, and Intuit.

The National Information Security Vulnerability Sharing Platform (CNVD) released a security announcement titled "Analysis and Repair Suggestions for PHP Remote Code Execution Vulnerability," in which it supports affected users to closely monitor official information, download and update to the latest version through official channels. Users who are temporarily unable to update can take measures to reduce certain attack vectors, mitigate vulnerability threats, and continuously monitor for abnormal PHP process exits, abnormal system command calls, unfamiliar process creations, and abnormal file writes, while retaining logs for traceability analysis.In its protection recommendations, CNVD stated that information system operating units should further strengthen security protection, comprehensively sort out their network assets, and reduce the public exposure of information systems according to the principle of not connecting to the internet unless necessary. Operating units that are currently unable to repair should take temporary response measures such as network isolation, network access restrictions, and taking unnecessary business systems offline.

Coinglass data shows that in the past 7 days, the net inflow to CEX platforms was 46,928.46 BTC, with Binance platform inflowing 37,394.58 BTC, Coinbase Pro platform inflowing 1,447.9 BTC, and Kraken platform inflowing 3,019.97 BTC.