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10/16
17:42
Al Jazeera reported that the New Yalu River Bridge, connecting Dandong, China, and Sinuiju, North Korea, officially opened this Thursday. Although officials from both China and North Korea stated that the bridge would "greatly promote" trade and economic cooperation, analysts remain cautious. Experts point out that international sanctions and the North Korean leadership's prioritization of security will hinder trade prospects. Phillip Park, a professor at the University of North Korean Studies in Seoul, stated that the bridge reflects China's efforts to strengthen its relationship with North Korea amid changes in the regional landscape, but whether it will lead to substantial economic integration remains unknown, as the bridge cannot eliminate international sanctions. Chinese customs data shows that bilateral trade between China and North Korea grew by 25% to $2.74 billion in 2025 and by nearly 20% to $1.5 billion in the first half of 2026, but it remains negligible compared to total global trade. Christopher Green, a senior advisor at the International Crisis Group, believes that China-North Korea trade is "fundamentally politically driven" and that insufficient transit routes are not the main obstacle, thus the importance of the new bridge should not be overstated.
17:40
South Korean cryptocurrency exchange Upbit announced that it will cease supporting digital asset deposits and withdrawals exceeding 1 million Korean Won (approximately $730) to and from BitMEX, due to BitMEX's termination of its VerifyVASP (Virtual Asset Service Provider Verification System) linkage. This interruption will take effect on October 16, 2026. Additionally, manual deposits of digital assets exceeding 1 million Korean Won from BitMEX to Upbit will no longer be supported starting at 14:00 on December 18, 2026.
17:34
The UK Financial Conduct Authority (FCA) has stated that, following the recent overturning of related convictions by the Court of Appeal, it has withdrawn its prohibitions against Colin Bermingham, Philippe Moryoussef, Jonathan Mathew, and Christian Bittar, and removed the corresponding final notices from its channels. The FCA will not take any further action against these individuals. Previously, the FCA had ceased its proceedings against Tom Hayes last year and, following the Supreme Court's quashing of Carlo Palombo's criminal conviction, had withdrawn its prohibition against Palombo.
17:31
Qatar's Minister of Foreign Affairs, Mohammed bin Abdulrahman bin Jassim Al Thani, stated at a press conference in Beirut with Lebanese Foreign Minister Yusuf Raji that Qatar fully supports Lebanon and its people. During his visit, he is also scheduled to meet with Lebanese President Joseph Aoun, where they are expected to discuss Israel's ongoing attacks and occupation of southern Lebanon.
17:21
Upbit announced that due to the planned cessation of operations for the Abstract network on December 15, 2026, the exchange will terminate trading support and external deposits for Abstractio (ABSIO) NFTs starting at 15:00 KST on November 6, 2026, in accordance with its NFT trading support policy. External withdrawal support will cease at 15:00 KST on December 10, 2026. Bunya, the issuer of Abstractio, plans to migrate the NFT series to another blockchain network and advises users to withdraw their NFTs to personal EVM-compatible wallets before this date, though the specific migration network, timing, and method have not yet been announced.
17:18
Bank of America Securities, in an October 15 report, stated that given the higher-than-expected September inflation data, it has raised its forecast for the Federal Reserve's "favorite" inflation gauge—the September core PCE month-over-month—by 10 basis points to 0.32% from the previous estimate of approximately 0.22%. The bank reiterated its expectation that the Federal Reserve will hike rates again at its October FOMC meeting and warned that signs of inflation broadening out make the Federal Reserve's previous dovish statements appear premature. The report emphasized that within the core CPI consumption basket, the proportion of items with an annualized increase exceeding 2.5% over the past three months has rebounded to 55%, and the September PPI, released on Thursday, rose to a four-year high of 6.3% year-over-year.
17:16
A Decrypt explainer on hardware wallets highlighted two major security incidents: a Coldcard firmware bug in July 2026 led to approximately 1,816 BTC (around $116 million) being drained, and an October 2026 Ledger disclosure revealed an unauthorized chip implanted in devices sold by a Southeast Asian reseller, resulting in about $86 million in stolen funds. Following the Ledger incident, Ledger halted distribution via resellers in seven Asian markets, and rival manufacturer Trezor also wound up its reseller program as a precautionary measure.
17:11
Solana Postpones Shanghai Event, Citing Registration Surge. The official tour site still lists three more China stops, but registration pages for Hangzhou, Shenzhen and Beijing show sign-ups closed.
17:10
Gabriela Castillo Madrid, Head of Global Government Affairs for SpaceX AI, will testify via video conference before the New York City Council on Friday at 10 AM ET, as part of the legislative body's investigation into AI safety. SpaceX had previously resisted a subpoena from the City Council but agreed to testify after the Council threatened to enforce it. The investigation aims to guide new AI regulations. SpaceX merged with xAI in February, and its Grok AI model has been accused of inciting online harassment.
17:06
Speculative traders on Binance injected over $184 million into XRP long contracts within hours, triggering a 5% counter-trend rebound for the token. This occurred after XRP had corrected 22.5% from its September high of $1.65, with pressure from hotter-than-expected US CPI and PPI data. The liquidity surge was concentrated on Binance, with market buy orders exceeding $73 million in the peak hour, while other major exchanges showed low activity. Analysts warn of high risks due to the concentration of leveraged positions, making XRP vulnerable to cascading liquidations and increased volatility.
17:02
Iraqi Foreign Minister Fuad Hussein stated that the conflict between the United States and Iran has cost Iraq up to $60 billion. The Iraqi News Agency cited a Foreign Ministry statement saying that the prolonged conflict has caused significant economic damage, exacerbated the global energy crisis, and heightened concerns about rising inflation.
17:00
Al Jazeera reported that Saudi Arabia is still scheduled to host the AFC Asian Cup early next year, despite a series of Houthi attacks on Riyadh. However, the Saudi International, the flagship event of the Asian Tour originally set for November 18-21, has been postponed indefinitely. Additionally, Australia withdrew on Friday from the Urban Cycling World Championships, which were slated for early November in Riyadh, citing security concerns. This follows a Houthi attack on Riyadh International Airport last Saturday, which resulted in 14 deaths and over 300 injuries.
16:57
Moderna's stock price surged by up to 7% overnight, reaching a new high since January 2022, with its total market capitalization briefly approaching $96 billion. Year-to-date, its stock has cumulatively risen over 650%, primarily driven by market attention to the progress of its mRNA cancer vaccine, intismeran, in combination with Keytruda (pembrolizumab) in Phase III trials. Full detailed data from this trial will be presented at the European Society for Medical Oncology (ESMO) annual meeting in Madrid, Spain, from October 23 to 27. However, analysts are divided on the company's valuation, with a consensus target price of $122.67, and Citi even downgraded its rating to "Sell" with a target price of $80.
16:55
XRP is currently trading at $1.34, with its 50-day moving average at $1.39 and 200-day moving average at $1.38. According to U.Today analysis, if the 50-day MA falls below the 200-day MA, it would finalize a 'death cross', which many traders view as a bearish indicator.
16:55
Former U.S. President Donald Trump again sharply criticized Ukrainian President Volodymyr Zelenskyy, calling him "tougher to deal with than Russian President Vladimir Putin." Trump stated on Thursday evening that Ukraine's renewed attacks on Russian oil refineries were a "disgrace," arguing that the actions have driven up global oil prices. Zelenskyy sought EU support in Brussels on Friday, where European Commission President Ursula von der Leyen stated that despite Trump's call for a ceasefire, Russia has not complied, and therefore the EU will increase sanctions against Russia. Trump's dissatisfaction with Ukraine's continued attacks on refineries follows a previous U.S. announcement of a deal to import diesel from Russia to lower fuel prices.
16:54
Upbit announced that it has resumed Zilliqa (ZIL) withdrawal services as of October 16, 17:53 KST. Previously, Upbit had suspended ZIL deposits and withdrawals due to a "Zilliqa-related security incident at a specific exchange." Following the resumption of withdrawal services, ZIL deposit services will not be reinstated, as support for Zilliqa trading is set to terminate.
16:50
The move could pave the way for a capital injection into the cash-strapped Hong Kong property developer, according to people familiar with the matter.
16:45
According to Babylon Labs' October 14 proposal, Aave's design for native Bitcoin collateral allows borrowing wrapped Bitcoin (WBTC). Deficits may arise if the value of liquidated vaults is insufficient to cover their Hub debt, with WBTC Hub suppliers potentially bearing these shortfalls without dedicated protection.
16:38
A committee appointed by the Norwegian government released a report on Thursday, calling for the country's nearly $2.3 trillion sovereign wealth fund to relax its ethics-based investment restrictions, including those on nuclear weapons and investments related to Israel's actions in Gaza. The committee recommended allowing the fund to invest in companies producing nuclear weapons and that decisions involving "the actions of another state" should be left to Norwegian diplomatic channels. This move stems in part from last year's controversy when the fund divested from the American company Caterpillar due to Israel's actions in Gaza, as well as Norway's reliance on NATO's nuclear deterrence and the deteriorating security environment.
16:37
The Asian Tour has indefinitely postponed the PIF Saudi International golf tournament, originally scheduled to take place in Saudi Arabia in 2026. Additionally, Australia withdrew on Friday from the Urban Cycling World Championships, set to be held in Riyadh in early November, citing safety concerns. The Six Kings Slam tennis exhibition has been moved from October to December, and FIFA also postponed the FIFAe Finals, originally scheduled for the Saudi capital, on Thursday. Despite this, local organizers state that the 2027 AFC Asian Cup football tournament is still planned to be held in Saudi Arabia early next year.
16:26
Partners Group Holding AG, a Swiss private equity firm, is blocking hedge funds from investing in some of its distressed companies to prevent them from disrupting its efforts to refinance approximately €6 billion ($6.7 billion) in debt. This move could narrow the pool of buyers, even as the prices of its loans are falling.
16:25
KeyBanc Capital Markets analyst John Vinh stated in a report that the survey results were most positive for Micron, and he raised earnings forecasts for analog chipmakers Analog Devices, Microchip, Texas Instruments, and NXP. However, Vinh downgraded Cirrus Logic from "Overweight" to "Sector Weight," citing its approximately 80% revenue dependence on Apple, which has cut iPhone production.
16:25
KeyBanc Capital Markets analyst John Vinh noted in a report that the trend of storage supply lock-in is intensifying, with HP and Dell extending supply agreements until 2031, and Google negotiating long-term agreements covering up to 2035. Previously, approximately 80% of Samsung Electronics' memory chip production capacity for next year had already been locked in through long-term supply agreements.
16:25
KeyBanc Capital Markets analyst John Vinh noted in his Asia research report that High Bandwidth Memory (HBM) prices are expected to increase by 80% to 100% quarter-over-quarter in Q1 2027, driven by AI data center demand. DRAM prices are projected to rise by 15% to 20% quarter-over-quarter in Q4 this year, while NAND prices are expected to increase by approximately 20%.

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