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Bernstein: Meta's Ad Revenue Could Surpass Google Search in Q4, E-Commerce Emerges as AI Advertising Winner
According to Chaoxiang Research, a Bernstein report dated August 31, 2026, notes that Meta is poised to surpass Google Search for the first time in Q4 2026, becoming the world’s largest single ad platform. By mid-2024, market expectations for 2026 Google Search ad revenue growth were just 8%, but have since been revised upward to 16%, while Meta’s have increased from 12% to 26%. Year-over-year growth for the digital advertising basket in H1 2026 hit 21%, far exceeding the 6% recorded in 2022. AI is driving simultaneous growth in both ad pricing and impression volumes, a rare combination achieved by both Meta and Google Search. Yet, digital advertising equities have underperformed across the board this year, whereas e-commerce stocks have significantly outperformed. E-commerce firms have reaped the same AI-driven advertising tailwinds but at a fraction of the cost, sidestepping the massive AI capital expenditure burden and associated valuation discounts. Bernstein has assigned an Overweight rating to Meta, Pinterest, and Amazon, with respective target prices of $800, $28, and $320. Key risks include whether AI investments can sustain growth momentum and potential deceleration in the advertising market.
Analyst Willy Woo: Bitcoin Holding Rate May Become the Key Threshold for the "Separation of Currency and the State"
According to on-chain analyst Willy Woo (@willywoo), approximately 5% of the global population currently holds BTC, surpassing the 4.5% who hold gold and the 4% who hold the S&P 500. Woo noted that if BTC adoption remains at 5%, it is merely a conventional financial asset; however, if it rises to 50%, it could enable a separation between currency and the state.
Goldman Sachs: Crypto Trading Has Fallen for Ten Consecutive Months, Turning Point May Be Approaching
According to Chaoxiang Research, Goldman Sachs' research report dated August 24, 2026, indicates that cryptocurrency trading volume fell 30% in July and 21% in August, declining for 10 consecutive months, a duration that exceeded the median of the previous five cycles. Trading volume in this cycle has dropped 75% from its peak, while cryptocurrency market capitalization rebounded 21% over the past week. Goldman Sachs suggests a turning point in trading volume may emerge if market cap remains at current levels. On the regulatory front, 35% of institutional investors cite regulatory uncertainty as the biggest hurdle, while 32% identify regulatory clarity as the primary catalyst. The SEC recently proposed an innovation exemption framework. In 2026, over 10 additional digital asset companies received bank charters from the OCC, and more than 15 crypto firms have already been incorporated into the federal banking system. Crypto companies reduced expenses by an average of approximately 5% in 2026, lifting operating margins by roughly 5.8 percentage points. Goldman Sachs remains cautiously optimistic for the second half of the year, with sector valuations currently positioned at the 30th percentile over a five-year period. Key recommendations include COIN (target price $196), HOOD ($124), IBKR ($114, featured on Goldman Sachs' Conviction List US), and FIGR ($43). The investment logic diverges across the three sectors: traditional brokerages are poised for a September reversal, prediction markets are driven by the election cycle, and crypto equities benefit from a triple catalyst of market cap recovery, cost reductions, and regulatory reform.
Goldman Sachs: Q2 Earnings Up 135%, APAC Market Still Has 21% Upside Potential
According to Trend Research, Goldman Sachs' August 21, 2026 research report notes that the MSCI Asia Pacific ex Japan Index (MXAPJ) posted Q2 net profit growth of 135% year-over-year and 52% quarter-over-quarter, with 46% of companies beating expectations and a median surprise of 4.3%. The information technology sector led the gains, with earnings up 390% YoY. The current MXAPJ forward P/E ratio stands at 11x, two standard deviations below its 10-year average, placing it in a deeply discounted range. Goldman Sachs has set a 12-month target price of 1,080 points, implying a 21% upside from the current level of 891 points, with an expected total return including dividends of approximately 24%. Goldman Sachs believes earnings resilience will drive valuation repair, recommending overweight positions in capital goods, healthcare, energy, tech hardware and semiconductors, and insurance, while suggesting underweights in autos, software & services, internet, utilities, and metals & mining. Key trading recommendations include going long on portfolios that outperform earnings revisions (launched in July 2021, with a cumulative return of 334%) and going long on AI infrastructure hardware and semiconductors (launched in June 2023, with a cumulative return of 63%). MSCI will adjust its index benchmarks on August 31, triggering approximately $42 billion in two-way capital flows across Asian markets, which could amplify volatility toward the end of the month. Downside risks to monitor include rising long-end US Treasury yields, escalating geopolitical tensions, and the pace of China’s economic recovery.
HTX DeepThink: Beyond Policy Rates, Long-End Yields Are Becoming a Key Constraint on Crypto Valuation
HTX DeepThink columnist and HTX Research analyst Chloe (@ChloeTalk1) pointed out in her analysis that the core contradiction in the current macro market has shifted from "when the Fed will cut rates" to "whether the Fed needs to raise rates again." Warsh attempted to reduce the impact of single-month data on policy, but since his policy framework has not been fully understood by the market, July and August inflation data have instead become the key variables determining September policy expectations. If core CPI remains at 0.2% or below, the market will re-trade inflation decline and policy pause; if it consecutively exceeds expectations, the Fed will face a binary choice of "raise rates or lose credibility."
Bernstein Issues Divergent Ratings on Bitcoin Miners' AI Transition: Positive on CleanSpark's Execution, MARA Awaiting Key Contract
Odaily News - Investment firm Bernstein recently released a report assigning different ratings to two major Bitcoin miners transitioning to AI infrastructure: maintaining an "Outperform" rating on CleanSpark with a price target of $24, and initiating coverage on MARA Holdings with a "Market-Perform" rating and a price target of $17.Bernstein analysts stated that the core reason for the valuation divergence between the two companies lies in their differing progress in executing AI infrastructure transitions. CleanSpark has already signed an anchor tenant agreement for an AI data center and commenced construction, while MARA is still awaiting its first commercial AI contract.Regarding CleanSpark, the company previously announced the signing of a 20-year triple-net lease agreement with a global high-investment-grade technology firm, covering 175MW of IT capacity at its Sandersville, Georgia project. The agreement also includes exclusive cooperation arrangements for CleanSpark's total 885MW asset portfolio in Texas. Bernstein believes that CleanSpark's collaboration with tenant-designated engineering and construction contractors helps mitigate risks associated with its first large-scale AI infrastructure deployment. The first data center hall is expected to become operational in the fourth quarter of 2027.In contrast, Bernstein's assessment of MARA is more cautious. Analysts pointed out that the first commercial AI contract will serve as a key catalyst for a re-rating of MARA's stock, noting that company management previously indicated expectations of signing at least two AI lease agreements by the end of this year. (The Block)
Bybit Stocks Officially Launches, Offering Users Access to Over 1,000 U.S. Stocks and ETFs
Odaily report: New financial platform Bybit today announced the official launch of Stocks, allowing eligible users to trade over 1,000 U.S.-listed stocks and ETFs through Bybit, covering a wide range of popular U.S. equities and ETF tickers.Following the launch of Stocks, Bybit users who have completed KYC verification and are located in permitted regions can directly buy and sell supported U.S. stocks and ETFs using USDC. Unlike price derivatives or synthetic instruments, Stocks gives Bybit users access to the economic rights of a broader range of securities.Key features currently available on Stocks include:- Over 1,000 U.S. stocks and ETFs, with fractional share trading supported for eligible securities- Trading with USDC, funded directly from your Bybit account- Corporate action support, including cash dividends, stock dividends, and stock splits- 24/5 trading, covering U.S. pre-market, regular, and after-hours sessions (subject to product availability)- Zero commission on eligible stock tradesEligible users holding positions can receive the corresponding economic rights. Cash dividends will be converted from USD to USDC and deposited into the Unified Trading Account (UTA), while stock dividends will be directly reflected in users' holdings. Voting rights are planned for a later phase.Orders are routed through Bybit's regulated brokerage infrastructure and executed by U.S. self-clearing broker Alpaca, with underlying securities custodied by Alpaca. In addition to crypto spot and derivatives trading, Bybit also connects to traditional market opportunities through the MT5 platform, tokenized stocks, and TradFi perpetual contracts, and the launch of Bybit Stocks further completes Bybit's multi-asset platform layout.Bybit Stocks is offered by Infra Capital Limited (introducing broker), which is regulated by the Mauritius Financial Services Commission (GB23202169). Clearing and settlement services for U.S. securities are provided by Alpaca Securities LLC (FINRA/SIPC member). Specific terms and conditions for this product are available on the official website. Investment products carry the risk of principal loss, and users should read the Risk Disclosure Statement before investing.
US Senate Investigation Points to USDT as a Key Liquidity Channel for Iran's Shadow Banking, Gulf VASPs Face Heightened Sanctions Risk
Odaily News: A report by the U.S. Senate Permanent Subcommittee on Investigations (PSI) has identified stablecoins, particularly USDT, as a key liquidity channel supporting Iran's shadow banking system. Licensed Virtual Asset Service Providers (VASPs) in the Gulf Cooperation Council (GCC) region face heightened sanctions compliance pressure and need to strengthen wallet attribution identification and counterparty assessment.Soham Jethani, a partner at law firm Septten, stated that merchants settling crypto assets into local fiat currency does not mean they can circumvent sanctions risk. Liability may arise from providing designated persons, funds, or economic resources, as well as handling assets within the transaction chain, and may materialize before the bank completes final settlement.Jethani noted that the name of a stablecoin or its denomination currency does not determine legal ownership; specific rights depend on contractual arrangements and the actual payment process. Globally circulating stablecoins may also bring secondary sanctions risk. Indirect or historical wallet associations do not automatically constitute a violation; determination requires consideration of the applicable regime, transaction participants, and specific facts.In regulated markets such as the UAE, licensed exchange wallets are continuously monitored, and relevant funds can be frozen before consumer settlement, while merchants must also complete KYC. Regulated VASPs handling deposits and withdrawals bear responsibility for counterparty and sanctions risk assessment and corresponding controls. (Bitcoin.com News)
October 7, 2026 Economic Calendar: Key Focus on Oil Inventories and Fed Minutes
Today's financial calendar focuses on macroeconomic data such as China's foreign exchange reserves, European and U.S. industrial output, and housing price indices. Markets will closely monitor changes in U.S. API and EIA crude oil inventories, the New York Fed's inflation expectations, and the Federal Reserve's monetary policy meeting minutes.
US Senate Fails to Advance Key Procedural Vote on Crypto Market Structure Bill
Odaily reports: The U.S. Senate failed to pass a key procedural vote on the Digital Asset Market Clarity Act, leaving the bill's future uncertain. The bill aims to clarify the division of regulatory authority over the crypto market between the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC).The two parties failed to reach agreement on ethics provisions that would restrict the crypto business ties of the President and senior government officials. Disagreements over stablecoin yield, decentralized finance risks, and the bill's text, combined with the approaching midterm elections, are all affecting the bill's advancement. (CoinDesk)
Fetch.ai Discloses: Signing Key Leaked, Partners with SingularityNET to Deactivate Affected Wallets
Fetch.ai officially announced that it was hacked, with attackers breaching the system via stolen signing keys and transferring funds to withdrawal wallets. An on-chain attack analysis report tracing the complete path from the key leak to the attacker's withdrawal has been published on the ASI:One platform. Currently, Fetch.ai has collaborated with SingularityNET to disable the affected wallets and related contracts. The investigation is ongoing, and updates will be provided continuously.
US SEC Chairman: Tokenized Stock On-Chain Trading Must Meet Four Key Conditions; Synthetic Tokenized Stock Trading Strictly Prohibited
SEC Chairman Paul S. Atkins issued a statement today announcing that an "innovation exemption" will provide a temporary, conditional regulatory exemption for on-chain trading of certain tokenized NMS stocks. However, Chairman Atkins indicated that the exemption requires meeting four key conditions: First, qualifying tokenized securities venues (TSVs) must be U.S. entities and comply with the economic and trade sanctions rules of the U.S. Office of Foreign Assets Control (OFAC); Second, a permissioned access model must be implemented, allowing only qualified participants to trade tokenized NMS stocks; Third, trading of synthetic tokenized stocks is prohibited; relevant tokenized stocks must be tokenized by the underlying stock issuer or an unaffiliated third party, and holders must enjoy the same rights as traditional securities, including dividend and voting rights; Fourth, issuers retain the right to object to and block the trading of their securities on TSVs, and the anti-fraud and anti-manipulation provisions under federal securities law remain fully applicable to related securities activities.
Trader Killa: Bitcoin's Short-Term Choppy Action May Be a "Liquidation Game," Next Key Level to Watch Is $75,500
Odaily reports: Trader Killa says that for Bitcoin (BTC) to replicate its 2023 price action, it needs to form a higher low (HL) above $75,500 and ideally hold the low near $80,000.After Bitcoin recently reclaimed its short-term structure around the $82,000 zone, it pulled back to test and broke through again, with short-term price action showing strong characteristics of "bull traps and bear traps." When BTC previously fell from $84,100 to $81,000, the structure appeared weak, but a large number of shorts entering at the lows fueled the subsequent rebound.Killa noted that during the drop from $84,100 to $81,000, long liquidations totaled approximately $300 million, while during the earlier decline from $86,800 to $80,600, long liquidations exceeded $2 billion, indicating that the market's leverage structure is improving and the proportion of longs has declined compared to before. The market now needs to form a higher low and initiate the next leg up; otherwise, this correction could break below $80,000.
Analysis: Bitcoin-Nasdaq Correlation Rebounds to 40%, CPI Data May Be Key Short-Term Variable
Odaily News: CoinShares noted in its latest biweekly market report that U.S. spot BTC ETFs saw net outflows of $679 million last week, including a single-day net outflow of $485 million on Wednesday, the largest single-day outflow since June; ETH ETFs saw net outflows of $542 million last week, with cumulative outflows of nearly $700 million over nine consecutive trading days. BTC briefly approached $87,000 on October 5, then fell back to around $80,300, before rebounding to around $83,500.The report shows that BTC's correlation with the Nasdaq index has rebounded to about 40%, its long-term average level, while its correlation with inflation-linked bonds continues to strengthen. CoinShares believes that U.S. CPI data to be released this week will be an important variable: if core CPI rises 0.3% month-over-month, it could reinforce market expectations for a Federal Reserve rate hike in October, putting BTC at risk of testing $80,000 again. (CoinShares)
Binance Research: Real Yields Hit New Highs Since 2008, Highly Concentrated Leadership in Crypto and Equity Sectors
According to a report from Binance Research, since August 31, the US 10-year Treasury yield has risen by 47 basis points to 5.22%, with 43 basis points driven by an increase in real yields (currently at 2.87%, peaking at 2.95% on October 5, the highest since 2008), while inflation expectations contributed only 4 basis points. Since the rate hike on September 16, leading market sectors have been highly concentrated: in equities, the S&P 500 rose 3.3%, led by semiconductors up 10.6%, while small-cap and bank stocks declined, and the equal-weight index remained flat; in crypto markets, Bitcoin gained 9.3%, Ethereum rose 2.7%, with Layer 2 (+32%), RWA (+29%), and AI tokens (+29%) leading the way, while Meme coins and payment tokens only advanced 5%. In terms of fund flows, net inflows into stocks on the Binance platform reached $169 million, with semiconductor-related inflows nearly quadrupling to $73 million, and Intel attracting $32 million in a single week despite a 12% drop in its stock price. Key focus areas ahead include the September CPI data (expected to rise from 3.4% to 3.7%) and the banking earnings season, which will serve as a key test of the current market landscape.
Analyst: Bitcoin Breaks Above Key Cost Basis Line, Most Market Capital Now in Profit
Odaily report: Crypto analyst Darkfost posted on X with a chart, stating that compared to the end of August, the Bitcoin market trend has shown a clear shift, which can be observed from changes in the Capital Cost Basis. This metric calculates a weighted realized price based on transaction volume (USD), giving higher weight to BTC purchased at higher prices, thereby more accurately reflecting the actual cost of market capital.Data shows that at the end of August, BTC was still struggling near this key level, but Bitcoin has now closed above the capital cost basis of approximately $80,400 for several consecutive weeks. This means that most of the capital invested in the market is now in slight profit. As investor positions gradually turn profitable, market stability is strengthening by the day, which is a positive signal for the current BTC consolidation phase.
Bonk Guy: MARSCOIN May See a Strong Q4 Rally, Musk + CZ Narrative Becomes Key Highlight
well-known trader Bonk Guy posted that MARSCOIN's current price action is "very clean," and predicted it may see a significant rally in Q4, adding that its fundamentals are also improving. According to the analyst, as BNB and BNB Chain gain greater influence in this cycle, MARSCOIN's "Musk + CZ" narrative has further strengthened. He noted that in the previous cycle, SHIB and DOGE market caps once surpassed $40 billion and $80 billion, respectively, while MARSCOIN this time will combine elements such as Musk, Binance founder CZ, and space rocket company SPCX. Binance has already provided support to the related ecosystem through SPCX rewards and a portion of its own trading fees, and the market may be underestimating MARSCOIN's potential performance over the next few months.
Analysts: Bitcoin Market Momentum Strengthens, Key Cost-Basis Indicator Signals Bull Market
Analyst Darkfost states that the cost basis for Bitcoin's short-term holders (STH) has confirmed crossing above that of active long-term holders (LTH), sending a bull market confirmation signal historically observed for the fifth time. Active long-term holders refer to coin supplies transferred at least once over the past seven years, a definition designed to exclude long-dormant balances. Currently, over 3.5 million bitcoins held for more than ten years remain dormant, with this supply segment growing by an average of approximately 8,000 to 30,000 coins per month. Darkfost believes current market momentum is shifting positively, partially driven by capital inflows into exchange-traded funds (ETFs), although the possibility of this signal failing remains.
Duelbits Hot Wallet Suspected Private Key Leak, Approximately $4.2 Million in Assets Stolen and Transferred
According to Scam Sniffer (@realScamSniffer), Duelbits' hot wallets on Ethereum, BSC, and Tron are suspected of having leaked private keys, with approximately $4.2 million in assets flowing to newly created addresses. The transferred assets include 836 ETH, 1.62 million USDT, 97,000 USDC, 209 BNB, and 192,000 TRX, with most of them already converted to ETH. The hacker's EVM address is 0xa77e24fe29d16e051e487ef4ea7b056cb05aef76.
Fetch.ai Discloses: Signing Key Leaked, Partners with SingularityNET to Deactivate Affected Wallets
Fetch.ai officially announced that it was hacked, with attackers breaching the system via stolen signing keys and transferring funds to withdrawal wallets. An on-chain attack analysis report tracing the complete path from the key leak to the attacker's withdrawal has been published on the ASI:One platform. Currently, Fetch.ai has collaborated with SingularityNET to disable the affected wallets and related contracts. The investigation is ongoing, and updates will be provided continuously.
Relying on AI to find vulnerabilities first is not a sustainable security strategy, warns Bitcoin Core developer Niklas Gögge
Odaily reports: Bitcoin News posted on X platform that Bitcoin Core developer Niklas Gögge warned that recent AI-driven vulnerability scanning is changing the Bitcoin security landscape. Large language models have significantly reduced the cost of vulnerability discovery, and attackers may be able to find catastrophic vulnerabilities with only a few hundred dollars in computing costs. For Bitcoin Core, Project Loupe, Bitcoin Red Team, and individual contributors have generated over 1,000 reports, but so far no high-risk or critical vulnerabilities have been found. Gögge stated that relying on stronger models to find vulnerabilities before attackers do is not a sustainable security strategy. Developers should build testing infrastructure through automated testing, fuzzing, and property-based testing that can prevent entire classes of vulnerabilities in advance. Key components of Bitcoin Core have cumulatively completed over 100 years of CPU fuzzing and decades of Bitcoin node network simulation.
White-Hat Hacker Withdraws Approximately 4,000 BTC from Liquid Network; Side Chain Suspends Operations
According to an announcement from the official Liquid Network X account (@Liquid_BTC), a suspected whitehat hacker withdrew approximately 4,000 BTC worth around $320 million from a Liquid Federation wallet using a SideSwap PAK (Peg-out Authorization Key). The official statement indicated that the key itself was not leaked, and the Blockstream team is attempting to contact the party through on-chain signed messages. Following the incident, exchanges have paused or are about to pause LBTC deposit and withdrawal services. Bridge nodes have been temporarily shut down, and the Liquid sidechain is currently suspended, unable to submit new transactions. Officials emphasized that other Liquid assets such as USDT, DePix, and RWA remain unaffected by this incident, while Federation members are actively working to resolve the issue to restore normal network operations as soon as possible.
Sparrow Wallet Releases Version 2.5.4, AI-Assisted Code Review Fixes Multiple Security Vulnerabilities
According to Decrypt, privacy-focused Bitcoin wallet Sparrow Wallet released version 2.5.4 on August 28. Developer Craig Raw stated that the update was driven by an AI-assisted code review, with the majority of fixes originating from it. This review was prompted by the recent seed generation code vulnerability exploit affecting Coldcard, as well as the release of unrestricted AI models in China, which has significantly enhanced vulnerability scanning capabilities across large codebases. Key updates include: validating the authenticity of transactions returned by Electrum servers, enforcing stricter BitBox02 hardware wallet security requirements (firmware v9.4.0 or higher required), patching local DNS leaks, and masking sensitive credentials in debug logs. Raw noted that there are no indications of any exploits being leveraged, user funds remain secure, and he still advises all users to update at their earliest convenience.
GoPlus: Realio Platform Signing Key Compromised, Approximately 127.9 Million RIO Tokens Transferred
GoPlus Security released a security alert stating that on August 25, realio[.]fund, a project under Realio Network, was attacked. The attacker took control of the platform's signing system and moved treasury and custody wallet assets across Ethereum, BNB Chain, Algorand, Stellar, and the Realio native chain. A total of approximately 127.9 million RIO tokens worth around $6.2 million were affected, with the attacker having cashed out approximately $317,000 so far.
Coinbase Publishes Article Exploring Bitcoin's Post-Quantum Security Migration Path
In an official blog post, Coinbase shares technical considerations regarding its transition strategy for Bitcoin to address quantum computing threats. The article points out that quantum computers pose a potential threat to Bitcoin's existing cryptographic system, and migration efforts require years of advance planning. As one of the world's largest cryptocurrency custody institutions, Coinbase holds approximately 5% of the global BTC supply and has already joined the Bitcoin Security Alliance while investing in open-source research support. Key recommendations include adopting flexible output architectures such as P2MR (BIP-360) or P2TRv2 to support the introduction and replacement of post-quantum signature schemes; implementing a 1-of-2 hybrid transition construct that allows funds to retain both classical and post-quantum signature paths simultaneously; prioritizing stateless signature schemes to mitigate state management risks; and requiring candidate schemes to be compatible with Multi-Party Computation (MPC) to meet institutional-grade custody requirements. Coinbase emphasizes that the handling of legacy funds can be discussed in parallel with technical upgrade work and should not hinder the advancement of post-quantum signature support.
Bybit Stocks Officially Launches, Offering Users Access to Over 1,000 U.S. Stocks and ETFs
Odaily report: New financial platform Bybit today announced the official launch of Stocks, allowing eligible users to trade over 1,000 U.S.-listed stocks and ETFs through Bybit, covering a wide range of popular U.S. equities and ETF tickers.Following the launch of Stocks, Bybit users who have completed KYC verification and are located in permitted regions can directly buy and sell supported U.S. stocks and ETFs using USDC. Unlike price derivatives or synthetic instruments, Stocks gives Bybit users access to the economic rights of a broader range of securities.Key features currently available on Stocks include:- Over 1,000 U.S. stocks and ETFs, with fractional share trading supported for eligible securities- Trading with USDC, funded directly from your Bybit account- Corporate action support, including cash dividends, stock dividends, and stock splits- 24/5 trading, covering U.S. pre-market, regular, and after-hours sessions (subject to product availability)- Zero commission on eligible stock tradesEligible users holding positions can receive the corresponding economic rights. Cash dividends will be converted from USD to USDC and deposited into the Unified Trading Account (UTA), while stock dividends will be directly reflected in users' holdings. Voting rights are planned for a later phase.Orders are routed through Bybit's regulated brokerage infrastructure and executed by U.S. self-clearing broker Alpaca, with underlying securities custodied by Alpaca. In addition to crypto spot and derivatives trading, Bybit also connects to traditional market opportunities through the MT5 platform, tokenized stocks, and TradFi perpetual contracts, and the launch of Bybit Stocks further completes Bybit's multi-asset platform layout.Bybit Stocks is offered by Infra Capital Limited (introducing broker), which is regulated by the Mauritius Financial Services Commission (GB23202169). Clearing and settlement services for U.S. securities are provided by Alpaca Securities LLC (FINRA/SIPC member). Specific terms and conditions for this product are available on the official website. Investment products carry the risk of principal loss, and users should read the Risk Disclosure Statement before investing.
October 9, 2026 Key Focus: Federal Reserve Speeches and Economic Data from Multiple Countries
This article outlines the macroeconomic data release schedule for October 9, 2026, and early the following morning. Key highlights include remarks by Federal Reserve officials Musalem and Collins, as well as key indicators such as Canadian employment, the US Michigan Consumer Sentiment Index, and inflation expectations.
Ledger Launches Bitcoin Lending Feature, Borrow USDC or USDT Against cbBTC or WBTC
Odaily reports: Hardware wallet company Ledger announced at TOKEN2049 in Singapore the launch of a self-custodial lending feature within its wallet app called Crypto Loan. Eligible users can use cbBTC or wBTC as collateral to borrow USDC or USDT.Users can open and manage loans directly within Ledger Wallet, track loan-to-value ratios, add collateral, repay loans, or increase borrowing. Key operations must be confirmed via hardware on a Ledger signing device before execution.The feature is powered by decentralized credit network Morpho, with Yield.xyz as the technology service provider. Ledger also announced that its signing devices can connect directly to Morpho without the need for browser extensions or software wallet connection protocols.Crypto Loan has begun rolling out to eligible users, with broader coverage to follow. If the price of collateral assets drops significantly, the related collateral may be subject to forced liquidation. (Decrypt)
Aptos Governance Proposal Voting Enables Encrypted Transaction Feature to Reduce MEV Risk
Aptos Governance Proposal #206 is currently under voting, proposing to activate ChunkyDKG V1 full mode and the encrypted_transactions feature. Through Distributed Key Generation, this mechanism enables encrypted transactions by concealing their contents prior to consensus ordering, with validators collaboratively decrypting them afterward, which helps mitigate front-running and MEV risks. The proposal's voting period ends on October 6. While the current approval rate approaches 100%, voter turnout is merely 2.69%, failing to reach the required 24.8% quorum.
EntropyLab Releases Candidate Version of Bitcoin Offline Key and Wallet Calculator
According to Bitcoin News on X, EntropyLab has released the first candidate version v1.0.0rc1 of its self-contained Bitcoin key and wallet calculator. The application runs as a single HTML file, requires no network connection, and does not generate entropy on its own; users can provide their own entropy to compute keys and wallets in a fully offline environment.The tool supports multisig, PSBT, BIP-85, Silent Payments, vanity addresses, watch-only wallet export, and randomness analysis. This version is reproducible and can be verified through signatures from 4 independent signers; the team recommends that users download and verify the file before transferring it to an air-gapped computer. The official v1.0.0 release is still pending completion of candidate version testing.
Related news
Coinbase Publishes Article Exploring Bitcoin's Post-Quantum Security Migration Path
In an official blog post, Coinbase shares technical considerations regarding its transition strategy for Bitcoin to address quantum computing threats. The article points out that quantum computers pose a potential threat to Bitcoin's existing cryptographic system, and migration efforts require years of advance planning. As one of the world's largest cryptocurrency custody institutions, Coinbase holds approximately 5% of the global BTC supply and has already joined the Bitcoin Security Alliance while investing in open-source research support. Key recommendations include adopting flexible output architectures such as P2MR (BIP-360) or P2TRv2 to support the introduction and replacement of post-quantum signature schemes; implementing a 1-of-2 hybrid transition construct that allows funds to retain both classical and post-quantum signature paths simultaneously; prioritizing stateless signature schemes to mitigate state management risks; and requiring candidate schemes to be compatible with Multi-Party Computation (MPC) to meet institutional-grade custody requirements. Coinbase emphasizes that the handling of legacy funds can be discussed in parallel with technical upgrade work and should not hinder the advancement of post-quantum signature support.
Trader Killa: Bitcoin's Short-Term Choppy Action May Be a "Liquidation Game," Next Key Level to Watch Is $75,500
Odaily reports: Trader Killa says that for Bitcoin (BTC) to replicate its 2023 price action, it needs to form a higher low (HL) above $75,500 and ideally hold the low near $80,000.After Bitcoin recently reclaimed its short-term structure around the $82,000 zone, it pulled back to test and broke through again, with short-term price action showing strong characteristics of "bull traps and bear traps." When BTC previously fell from $84,100 to $81,000, the structure appeared weak, but a large number of shorts entering at the lows fueled the subsequent rebound.Killa noted that during the drop from $84,100 to $81,000, long liquidations totaled approximately $300 million, while during the earlier decline from $86,800 to $80,600, long liquidations exceeded $2 billion, indicating that the market's leverage structure is improving and the proportion of longs has declined compared to before. The market now needs to form a higher low and initiate the next leg up; otherwise, this correction could break below $80,000.
Glassnode: BTC Supported Twice by ETF Cost Basis, Key Support Below at $77,500
According to analysis by on-chain data platform Glassnode (@glassnode), Bitcoin's price has rebounded from the ETF cost basis, trading below this threshold for most of the year, while May's rally also stalled beneath it. Currently, BTC has found support near $81,500 twice, and the ETF cost basis is transitioning from a "resistance level" to a "support level." If this level breaks, the next major support lies at the Realized Price of $77,500.
Analysis: Bitcoin-Nasdaq Correlation Rebounds to 40%, CPI Data May Be Key Short-Term Variable
Odaily News: CoinShares noted in its latest biweekly market report that U.S. spot BTC ETFs saw net outflows of $679 million last week, including a single-day net outflow of $485 million on Wednesday, the largest single-day outflow since June; ETH ETFs saw net outflows of $542 million last week, with cumulative outflows of nearly $700 million over nine consecutive trading days. BTC briefly approached $87,000 on October 5, then fell back to around $80,300, before rebounding to around $83,500.The report shows that BTC's correlation with the Nasdaq index has rebounded to about 40%, its long-term average level, while its correlation with inflation-linked bonds continues to strengthen. CoinShares believes that U.S. CPI data to be released this week will be an important variable: if core CPI rises 0.3% month-over-month, it could reinforce market expectations for a Federal Reserve rate hike in October, putting BTC at risk of testing $80,000 again. (CoinShares)
Binance Research: Real Yields Hit New Highs Since 2008, Highly Concentrated Leadership in Crypto and Equity Sectors
According to a report from Binance Research, since August 31, the US 10-year Treasury yield has risen by 47 basis points to 5.22%, with 43 basis points driven by an increase in real yields (currently at 2.87%, peaking at 2.95% on October 5, the highest since 2008), while inflation expectations contributed only 4 basis points. Since the rate hike on September 16, leading market sectors have been highly concentrated: in equities, the S&P 500 rose 3.3%, led by semiconductors up 10.6%, while small-cap and bank stocks declined, and the equal-weight index remained flat; in crypto markets, Bitcoin gained 9.3%, Ethereum rose 2.7%, with Layer 2 (+32%), RWA (+29%), and AI tokens (+29%) leading the way, while Meme coins and payment tokens only advanced 5%. In terms of fund flows, net inflows into stocks on the Binance platform reached $169 million, with semiconductor-related inflows nearly quadrupling to $73 million, and Intel attracting $32 million in a single week despite a 12% drop in its stock price. Key focus areas ahead include the September CPI data (expected to rise from 3.4% to 3.7%) and the banking earnings season, which will serve as a key test of the current market landscape.
Bybit Stocks Officially Launches, Offering Users Access to Over 1,000 U.S. Stocks and ETFs
Odaily report: New financial platform Bybit today announced the official launch of Stocks, allowing eligible users to trade over 1,000 U.S.-listed stocks and ETFs through Bybit, covering a wide range of popular U.S. equities and ETF tickers.Following the launch of Stocks, Bybit users who have completed KYC verification and are located in permitted regions can directly buy and sell supported U.S. stocks and ETFs using USDC. Unlike price derivatives or synthetic instruments, Stocks gives Bybit users access to the economic rights of a broader range of securities.Key features currently available on Stocks include:- Over 1,000 U.S. stocks and ETFs, with fractional share trading supported for eligible securities- Trading with USDC, funded directly from your Bybit account- Corporate action support, including cash dividends, stock dividends, and stock splits- 24/5 trading, covering U.S. pre-market, regular, and after-hours sessions (subject to product availability)- Zero commission on eligible stock tradesEligible users holding positions can receive the corresponding economic rights. Cash dividends will be converted from USD to USDC and deposited into the Unified Trading Account (UTA), while stock dividends will be directly reflected in users' holdings. Voting rights are planned for a later phase.Orders are routed through Bybit's regulated brokerage infrastructure and executed by U.S. self-clearing broker Alpaca, with underlying securities custodied by Alpaca. In addition to crypto spot and derivatives trading, Bybit also connects to traditional market opportunities through the MT5 platform, tokenized stocks, and TradFi perpetual contracts, and the launch of Bybit Stocks further completes Bybit's multi-asset platform layout.Bybit Stocks is offered by Infra Capital Limited (introducing broker), which is regulated by the Mauritius Financial Services Commission (GB23202169). Clearing and settlement services for U.S. securities are provided by Alpaca Securities LLC (FINRA/SIPC member). Specific terms and conditions for this product are available on the official website. Investment products carry the risk of principal loss, and users should read the Risk Disclosure Statement before investing.