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More →Bitwise CIO Matt Hougan: Top four altcoin recommendations for long-term growth
Bitwise Chief Investment Officer Matt Hougan said that if more traditional investors allocate a portion of their portfolios to Bitcoin and gold, the price of Bitcoin could reach hundreds of thousands of dollars. He pointed out that rising government debt and concerns about the purchasing power of fiat currencies will increase demand for these assets. Hougan also believes that stablecoins and tokenization are the main developments in the crypto market over the next decade, and that investors holding traditional stocks and bonds face fiat currency risk, which can be reduced by allocating to Bitcoin and gold. He emphasized that Bitcoin is the best risk-adjusted investment and has the potential to serve as a store of value. Hougan mentioned that Bitcoin, Ethereum, Solana, and Chainlink are key assets, while also pointing to the potential of projects such as HyperLiquid, Zcash, and Venice. He looks forward to the crypto community pushing projects to improve tokenomics so that the value generated by protocols can be better shared with holders.
The International Energy Agency accelerates the release of oil reserves, while the United States is unprepared.
The International Energy Agency (IEA) wants to accelerate the release of oil reserves. According to a report by a federal regulatory agency, the United States is not yet prepared for the situation ahead. Governments are tapping emergency oil reserves faster than ever before, and the room for sustainability is shrinking. IEA member countries on October 7 supported accelerating the release of oil inventories they pledged in March 2026, with the goal of completing it as soon as possible. The IEA also said the diesel market is tight and that diesel should be released on a priority basis. According to Reuters, JPMorgan analysts believe the move is an accelerated release of already pledged oil rather than a new intervention. The IEA's action is historic, with member countries agreeing to supply 400 million barrels of oil to the market in response to the Iran war and disruptions to tanker traffic in the Strait of Hormuz.
The World Petroleum Congress opens, with multiple energy giants withdrawing.
According to a report from Bijie Network, the World Petroleum Congress opened on the 11th at a conference center about 10 kilometers from King Khalid International Airport. Because Riyadh's King Khalid International Airport had been repeatedly attacked by Yemen's Houthi armed forces over the past week, several international energy giants that had originally planned to attend chose to withdraw from the conference. BP said that due to "travel disruptions," its representatives were unable to attend in person. The report noted that the chief executives of the United States' ExxonMobil, France's TotalEnergies, and Britain's Shell also chose to withdraw from the conference. German Minister for Economic Affairs and Energy Katherina Reiche had originally planned to return home on the 12th, but was stranded in Riyadh due to flight cancellations, and Germany is trying to arrange a return flight.
Tokenized stocks market cap hits a record $3.9 billion
CoinWorld data: According to Cointelegraph, the market capitalization of the tokenized stock market reached a record $3.9 billion, with BNB Chain, Ethereum, and Solana accounting for about 70% of the market share.
Volkswagen's deliveries in the first three quarters fell 9% year-on-year, with third-quarter deliveries down 14.3% year-on-year.
Bitcoin News: Volkswagen's deliveries in the first three quarters fell 9% year-on-year, with third-quarter deliveries down 14.3% year-on-year.
Volkswagen: Global battery electric vehicle deliveries reached 678,700 units by the end of September.
CoinWorld news, Volkswagen: global BEV deliveries reached 678,700 units as of the end of September.
Saudi Arabia proceeds with world oil conference as planned after deadly attack
According to CoinWorld news, despite Saudi Arabia suffering its deadliest attack since the outbreak of the Iran war over the weekend, the 25th World Petroleum Congress and related events will still be held as planned from October 11 to October 15. Saudi Arabia's energy minister said: "No one can bring us down. We are like a phoenix, rising from the ashes again and again." The congress will attract Wall Street giants including Goldman Sachs CEO David Solomon and BlackRock CEO Larry Fink. Comprehensive security measures will be implemented at Riyadh's airports, conference venues, and official hotels to ensure participants' transportation and travel arrangements.
Citi maintains a "Buy" rating on SpaceX, saying Starship technical milestones are more important than quarterly results.
Citi maintains a "Buy" rating on SpaceX, saying Starship technical milestones are more important than quarterly results. Citi maintains its "Buy" rating on SpaceX, believing that the successful 14th flight test of Starship further consolidates the company's launch capability advantage and lays the foundation for broader expansion of its space infrastructure business. The institution noted that investors should focus more on whether Starship's key technical milestones can continue to be achieved than on the quarterly financial performance of the space business. The 14th flight entered orbit for the first time and completed its first revenue-generating mission by deploying 26 next-generation Starlink V3 satellites; during the test, one vacuum Raptor engine shut down early, but the spacecraft completed its planned flight trajectory by extending the operating time of the remaining five engines, while also successfully executing its first deorbit burn, and the Super Heavy booster also completed a soft splashdown along a simulated "chopsticks catch" trajectory.
Hong Kong Exchanges and Clearing plans to launch a redesigned renminbi-denominated gold futures contract.
Hong Kong Exchanges and Clearing plans to launch a redesigned renminbi-denominated gold futures contract. HKEX Chief Executive Bonnie Chan wrote in a blog post that the exchange plans to introduce the redesigned renminbi-denominated gold futures and develop more renminbi-denominated precious metals products, expanding the role of the renminbi in commodities trading and risk management.
HKEX: The development of Hong Kong's fixed income and commodities ecosystem should seize the opportunities brought by RMB internationalization.
According to CoinWorld news, HKEX: The construction of Hong Kong's fixed income and commodities ecosystem should seize the opportunities brought by RMB internationalization. On October 12, Hong Kong Exchanges and Clearing Limited (HKEX) Chief Executive Officer Bonnie Chan published a new CEO blog post. For any international financial center to attract and retain massive amounts of capital, it must provide as rich a "shelf" as possible, not only with a dazzling array of equity products, but also with a rich and diverse range of fixed income products and commodities. Equity products are Hong Kong's traditional strength, but the fixed income and commodities businesses have only just started and require significant investment. At the same time, RMB internationalization is entering a new stage, with the focus on enhancing the RMB's function as an investment and financing currency. If the Hong Kong market can leverage the offshore RMB liquidity pool to provide a rich range of RMB-denominated fixed income, currency, and commodities products, it will inevitably increase international investors' willingness to hold RMB assets for the long term and also enhance the attractiveness of the international financial center.