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More →Over $89.8 million flowed out of the U.S. spot BTC ETF market.
According to data from Bijie.com, a large amount of funds flowed out of the U.S. spot BTC ETF market yesterday, with net outflows reaching as high as $89.8 million. Among them, the largest outflow was ARKB, with a single-day net outflow of $85.2 million, followed by FBTC, with a total outflow of $74.5 million.
Intercontinental Exchange (ICE) launches gold futures trading in London
CoinWorld data: Intercontinental Exchange (ICE) has begun offering gold futures trading in London, the latest attempt to introduce precious metals derivatives in the global physical bullion trading hub. The exchange this week launched precious metals contracts linked to the London daily auction price, offering contracts for silver, platinum, and palladium in addition to gold.
The CFTC paves the way for true perpetual futures on US-regulated exchanges.
CoinWorld news: The Commodity Futures Trading Commission (CFTC) issued a no-action letter on October 3, allowing the introduction of true perpetual futures on U.S.-regulated exchanges. The letter stated that the CFTC will not take enforcement action against Coinbase Derivatives or any designated contract market that eliminates expiration dates. On October 5, the CFTC announced that the relevant no-action relief pertains to the trading structure of perpetual futures, which have long been part of the offshore digital currency market. The CFTC also stated that eligible exchanges may implement changes to expiration dates immediately, provided they give five days' advance notice to traders holding open positions. The deadline for this relief is October 20.
The long-short account ratio for BTC contracts is 1.06.
Bjie.com data: The BTCUSDT 4-hour long-short account ratio is 1.06, with more net long accounts than net short accounts. Compared with the same-caliber snapshot 24 hours ago, it rose by 0.1512.
Jeff Kilburg: Still bullish on Fortinet and Cloudflare even above analyst target prices.
According to news from Bijie, CNBC commentator Jeff Kilburg said he remains bullish on Fortinet and Cloudflare in the fourth quarter, even though both stocks are trading above analysts' target prices. He pointed out that only Arista is his third choice, currently about 20% below its target price. On a CNBC program, Kilburg mentioned that these three stocks are a way to profit from AI spending. He acknowledged that Cloudflare is currently not profitable, but believes these three stocks are good choices for investing in AI without having to invest directly in cloud computing giants. Fortinet has risen 130% this year, and its current price-to-earnings ratio is about 53 times. Cloudflare's target price exceeds $350, and Kilburg believes its price-to-earnings ratio is close to 300. Despite high borrowing costs, Kilburg believes third-quarter earnings growth will continue to support high valuations.
OKX: Continuously building a unified trading experience, connecting the crypto and traditional financial markets.
According to CoinWorld news, Thomas, OKX's Vice President of Product and Trading, said at the OKX NOW Global Product and Ecosystem Conference held in Singapore that OKX is connecting crypto assets with traditional financial markets through a unified trading experience, allowing users to participate in 24/7 trading of assets such as stocks and commodities in a familiar trading manner. He introduced that OKX has launched products including TradFi perpetual contracts, Pre-IPO perpetual contracts, and unified tokenized stock trading, and plans to launch options on traditional financial assets in the coming months, as well as issue its own tokenized stock product X-RWA, allowing users to directly trade stocks from stock exchanges and share liquidity. At the same time, OKX will also continue to improve liquidity and trading infrastructure, reducing trading complexity and enhancing capital efficiency through a unified trading unit and collateral system.
CFTC Midday Brief | CFTC Plans to Require Retail Leveraged Crypto Trading to Go Through FCM Intermediaries
Crypto News October 6: 1. The U.S. CFTC plans to require retail leveraged crypto trading to be intermediated through FCMs; 2. The U.S. Commodity Futures Trading Commission plans to establish a regulatory framework for leveraged crypto asset trading; 3. The U.S. CFTC and SEC jointly propose crypto regulation; 4. The U.S. Commodity Futures Trading Commission proposes its first batch of Bitcoin and cryptocurrency regulatory rules; 5. The Ethereum Sepolia network will undergo a hard fork upgrade on October 6; 6. Tom Lee: The strength in cryptocurrencies and tech stocks reflects market expectations that the Federal Reserve's monetary policy will shift toward easing; 7. U.S. community banks sue federal banking regulators to overturn crypto trust charters; 8. Technical indicators show a shift in Bitcoin, while Ethereum prepares for the Glamsterdam testnet upgrade; 9. Russia officially opens applications for registration of Bitcoin and cryptocurrency exchanges; 10. Bitcoin ETF fund flows: a net inflow of $102.7 million last week.
Rain applies to establish a national trust bank, ICBA sues OCC.
Coin World News: Stablecoin payment infrastructure provider Rain has applied to the U.S. Office of the Comptroller of the Currency (OCC) to establish Rain National Trust Bank in New York. Former Square Financial Services Chief Financial Officer Brandon Soto will serve as president and chief executive officer of the proposed bank. Meanwhile, the Independent Community Bankers of America (ICBA) has sued the OCC, accusing it of allowing non-depository trust banks to engage in a wide range of non-fiduciary activities and asking the court to overturn the OCC's chartering rule and Interpretive Letter 1176. The ICBA complaint states that the OCC has approved or conditionally approved at least 21 trust banks, at least 13 of which are cryptocurrency companies.
OKX launches stablecoin savings and payments app with annualized yields of up to 10%.
CoinWorld data: OKX has announced the launch of OKX Money, a stablecoin savings and payments app, now available in parts of Latin America, Africa, South Asia, and the Middle East. Eligible USDG balances can earn up to 10% annualized yield. Users can fund their accounts using more than 50 supported currencies, with funds converted into USD-backed stablecoins, and can hold, send, and spend USDG, USDC, or USDT. The app supports both virtual and physical cards, and eligible USDG balances can earn yield without staking or lockups. OKX said the app will roll out gradually in accordance with regional requirements, with specific legal entities and regulatory frameworks varying by jurisdiction, and the initial launch markets have not yet been disclosed. Yields and eligibility conditions vary by region and user, and users can unlock higher yield tiers by meeting a 30-day average deposit threshold, reaching a 30-day spending amount, or increasing their exchange VIP level.
Kuaishou's Kling AI is said to have selected banks to prepare for a Hong Kong IPO, aiming to raise at least $1 billion.
According to news from Bijie, Kuaishou's Kling AI is said to have selected banks to prepare for a Hong Kong IPO, aiming to raise at least $1 billion. According to people familiar with the matter, Kuaishou Technology's Kling AI has selected banks to prepare for an initial public offering in Hong Kong, which could raise at least $1 billion. The people said the AI video generation service provider is working with CICC, Goldman Sachs and UBS on a potential share sale, targeting a listing as soon as next year. The people said discussions are still ongoing, and details such as the size of the fundraising and the timing of the listing may change.