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ZEC $1,316.87 +7.46%
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AMZN $266.00 +6.15%
GOOGL $292.31 +4.37%
MSFT $555.53 +6.84%
META $633.66 +1.47%
NVDA $201.90 -3.81%
TSLA $385.05 -3.30%
SNDK $1,041.39 -8.91%
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Coinbase: Over 99% of user assets are stored in cold wallets, with private keys split for storage

Coinbase published an article introducing its user asset protection mechanism and stated that it has not been affected by the previous security incident involving Binance's hot wallet. Currently, the platform's system and user funds remain unaffected.Coinbase stated that over 99% of user assets are stored in cold wallets, with hot wallets only retaining a small amount of funds to meet users' daily withdrawal and usage needs, dynamically adjusting the balance based on deposit and withdrawal demands. The assets in its institutional custody vaults are all stored in cold storage and are independently isolated on-chain.In terms of fund transfer security, Coinbase employs distributed key protection, withdrawal limits, abnormal activity monitoring, and emergency stop mechanisms. Cold wallet private keys are split and stored, and the signing process does not fully reconstruct them; the key signing service in the hot wallet production environment does not allow single-person independent access. If abnormal transactions or a surge in withdrawal amounts are detected, the system will trigger an investigation and limit, and if necessary, can pause part or all fund transfers by shutting down the signing key.Coinbase also stated that user assets are always held by the users, and the platform holds assets on a 1:1 basis, without lending or misappropriating them without user instructions. As of September 30, 2026, the asset scale on the Coinbase platform reached $377 billion, holding $8.6 billion in cash and cash equivalents, and $2.2 billion in investment cryptocurrencies. The company stated that as AI capabilities develop and change the security risk landscape, it will continue to increase investment in security technology.

After the U.S. midterm elections, anti-data center forces are on the rise, putting pressure on Asian AI chip stocks

According to Wall Street News, the Democratic Party achieved a significant victory in the U.S. midterm elections, with several candidates who clearly opposed the expansion of data centers elected as governors, raising concerns in the market about a slowdown in AI infrastructure investment in the U.S. Asian chip stocks were under pressure on Wednesday, with companies like Samsung Electronics and SK Hynix facing risks that demand for server DRAM and high bandwidth memory (HBM) could be affected.The opposition to data centers mainly focuses on issues such as noise, water consumption, energy consumption, and increased electricity bills for residents. The market is concerned that local governments may tighten project approvals under the pretext of power supply, environmental protection, and AI safety, leading to delays in the construction of new data centers. However, analysts believe that regulation may not directly lead to a shrinkage in investment scale, and tech companies may also turn to building their own power and supporting infrastructure.For South Korean companies, the election results have varying impacts. The Democratic Party's control of Congress may counterbalance the Trump administration's efforts to cut subsidies from the CHIPS and Science Act, benefiting companies like Samsung that invest in the U.S.; the clean energy tax credit policy is also expected to be restored, potentially benefiting solar companies like Hanwha Solutions. Meanwhile, significant easing of automotive tariffs is unlikely, while the Korea-U.S. shipbuilding cooperation framework is expected to continue.

first_img BitGo has established a global markets division, led by former NYDIG executive Pete Janney

According to The Block, digital asset infrastructure company BitGo Holdings (BTGO) announced the launch of BitGo Global Markets, its new institutional trading and financial solutions business, integrating global liquidity, trade execution, financing, derivatives, and settlement services. This division is led by former NYDIG executive Pete Janney, and BitGo completed its acquisition of NYDIG's institutional and trading business on August 27.Approximately 30 employees joined BitGo after the acquisition, bringing expertise in derivatives, financing, collateral services, and structured products. Janney initially joined the company as the head of financial infrastructure. Since 2020, BitGo has provided institutional trading services through BitGo Prime, which has now been integrated into Global Markets, merging with derivatives, collateral management, and structured financing capabilities from NYDIG.Under the new division, BitGo's Global Liquidity Layer will offer spot trading and large over-the-counter trading channels, with liquidity sourced from exchanges, market makers, and other trading counterparts; clients can use their crypto assets as collateral to borrow funds for trading positions, with BitGo responsible for qualified custody, margin monitoring, and additional margin or clearing processing.The division will also provide options, swaps, and customized structured products for qualified counterparties, as well as managed investment strategies, private funds, and research services, with clearing and settlement handled by Go Network. BitGo CEO Mike Belshe stated that Global Markets will combine custody, liquidity, trading, financing, and settlement capabilities with deeper capital markets expertise. BTGO rose 3.4% in pre-market trading on Wednesday, following a 3.7% increase the previous day.
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