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BIT is about to launch Hong Kong stock trading services, which will begin targeted public testing on October 5

BIT announces that the Hong Kong stock trading feature will enter internal testing starting today, with a targeted public beta launch on October 5 and trading opening on October 12. Users can directly participate in trading using stablecoins.The first phase supports full trading of all stocks on the Hong Kong Stock Exchange's main board and the Growth Enterprise Market (GEM), IPO subscriptions, and financing trading. Hong Kong stocks and U.S. stocks share the same account system, allowing users with a BIT U.S. stock account to directly enable Hong Kong stock trading. During the public beta period, priority experience slots will be granted to invited users; from the start of the public beta until the first month after the official launch (ending November 11), all users can enjoy zero-commission trading, zero interest and zero subscription fees for financing new shares, a HK$100 Hong Kong stock platform fee deduction card, and a Hong Kong stock L2 market data card. Specific qualifications and rules are subject to BIT's official announcement.Elio Cui, head of BIT's brokerage business, stated: "The launch of BIT's Hong Kong stock trading provides customers with a more comprehensive cross-market investment tool. As a key hub connecting domestic and foreign liquidity, the Hong Kong capital market concentrates scarce high-growth and high-dividend quality targets, making it a core channel for investors to conduct cross-regional asset allocation and share regional growth dividends. Relying on the BIT account system, investors can flexibly allocate global mainstream quality assets such as U.S. stocks, Hong Kong stocks, and digital assets, truly achieving 'one account, global allocation' investment efficiency."

first_img The trading platform Pear will migrate to PEAR on October 12

The trading platform Pear announced that the token PEAR will open the migration portal on October 12, allowing users to exchange PEAR on Arbitrum for new tokens on HyperEVM at a 1:1 ratio within the Pear app. The migration is a one-way operation; once completed, the old tokens will be locked and cannot be transferred back to Arbitrum. Users need to prepare a small amount of ETH on Arbitrum to pay for Gas and cross-chain fees. After migration, the tokens can be transferred between HyperEVM and Hyperliquid spot, with liquidity subsequently launched in both locations.Pear stated that users holding stPEAR do not need to take any action, as staking will be automatically rebuilt on HyperEVM; holders still in the vesting period can claim and migrate their tokens after they are unlocked. The portal will remain open until September 28, 2027, with a buffer period. Currently, the PEAR listed on Hyperliquid spot is unrelated to the official platform; users can only migrate through the official Pear website and should only trust the contract addresses published through official channels.PEAR will begin trading on September 27, 2024. Pear claims that the platform has expanded from a paired trading terminal to institutional trading desks, AI trading agents, and vaults, with a cumulative trading volume exceeding $2 billion and cumulative fees of $1.3 million. In January of this year, token holders passed PIP-3 with over 99% support, stipulating that 70% of Pear's total revenue will be used for repurchasing and burning PEAR and supporting liquidity, while 30% will go to the team.

first_img SEC Commissioner Hester Peirce will resign on October 2

Hester Peirce, a commissioner of the U.S. Securities and Exchange Commission (SEC), announced she will resign on October 2. She published her resignation letter on social media platform X on Friday, revealing this date. Peirce is known in the industry as "Crypto Mom," having long advocated for clear rules for the crypto industry. During the tenures of Jay Clayton and Gary Gensler as chairmen, the SEC took a tough enforcement stance on crypto, while she continued to push for industry regulation. During the Trump administration, she was involved in rule-making and was appointed last year to lead the newly established SEC crypto working group.Her work in crypto encompasses policy statements and guidance on areas such as mining, staking, and meme coins, with the most important aspect being the classification and definition of various crypto assets to clarify regulatory jurisdiction. Recently, the SEC began proposing formal rules, the first being "Regulation Crypto Assets," which establishes a framework for issuing crypto assets that does not trigger strict securities regulation. The SEC also opened a path for tokenization of securities, known as "innovation exemptions," to initiate the era of securities tokenization with a five-year limited period.Peirce will become an associate professor at Regent University School of Law. After her departure, the SEC will have only two commissioners left, Atkins and Mark Uyeda, and the rules allow the two to constitute a quorum. On the same day, the SEC released a frequently asked questions document on crypto assets, addressing how to avoid triggering the "necessary managerial efforts" determination when marketing tokens, and discussing issues such as when staking receipt tokens and secondary markets are considered "promoters" of investment contracts.

Magic Eden: Current open orders are not affected by this vulnerability; users in the EVM market from February to October 2024 need to revoke related contract authorizations

Magic Eden announced that the vulnerability occurred in the NFT trading protocol Payment Processor V2 maintained by Limit Break. Magic Eden adopted this protocol for EVM network transaction settlements in 2024 but stopped using V2 in October 2024 and will completely shut down the EVM market in the first quarter of 2026. Therefore, NFTs currently listed on Magic Eden are not affected by this vulnerability.NFTs listed through its EVM market between February and October 2024 may be affected, while listings after October 2024 are generally not impacted. The platform is contacting the protocol owner and maintainer Limit Break to explore other risk mitigation measures, including pausing protocol transfers, and will continue to investigate the actual scope of the impact.Magic Eden reminds users who have listed or traded NFTs on its EVM market to revoke relevant contract authorizations on the Ethereum, Polygon, and Base networks. Users can filter the address through revoke.cash and revoke all authorizations marked as "approved for all" for NFTs. Magic Eden emphasizes that revoking authorization cannot recover assets that have already been transferred.Yuga Labs' Vice President of Blockchain Quit stated today that at 9 AM Eastern Time, attackers exploited the Payment Processor V2 vulnerability to steal a large number of NFTs. After contacting the LimitBreak team, the latter quickly paused the similarly affected Payment Processor V3. However, V2 could not be paused, and V3 on ApeChain is also temporarily unable to be paused. Therefore, the team implemented a white-hat operation, successfully transferring and protecting 23,155 NFTs valued at over 5.7 million dollars.

DeepSeek's annual revenue has doubled to 1 billion USD in a few months, planning to complete a financing of 50 billion RMB by the end of October

According to a report by The Information cited by Dongcha, two individuals with direct knowledge stated that the artificial intelligence company DeepSeek has an annual revenue of approximately $1 billion, up from less than $500 million a few months ago. The revenue primarily comes from model APIs, and the free chat application currently has no advertising or subscription revenue.The report indicated that part of the revenue growth is due to price increases, with some API prices raised by about 2.3 to 4.5 times. Liang Wenfeng recently told investors that the number of customers did not decline after the price increase, and demand remains strong. Previously disclosed financial data showed that the gross margin for the API business in the first seven months of this year was 82.9%.DeepSeek's second round of financing plans to raise approximately 50 billion yuan, with a valuation of about 500 billion. The company hopes to complete this by the end of October and is also preparing for an IPO on the Shanghai Stock Exchange's Sci-Tech Innovation Board. Liang Wenfeng stated that over 70% of the computing power is used for training new models, leaving less than 30% for inference; the company is trying to run more small models directly on gaming graphics cards, reserving high-end chips for training.

first_img Ethereum Glamsterdam upgrade passed the rehearsal, scheduled to launch Sepolia on October 6

According to CoinDesk, the Ethereum Glamsterdam upgrade has continued to confirm blocks after adopting new block construction rules this week, passing key tests and paving the way for its planned launch on the Sepolia public testnet on October 6. The Nethermind client subsequently completed performance tests involving one of the biggest changes in Glamsterdam, with all 2,302 tests passing, processing 57.07 billion gas in 3 minutes and 15 seconds, averaging about 2.9 billion gas per second.The benchmark measures the speed of the Nethermind execution software rather than the entire network, testing block-level access lists. This mechanism informs Ethereum nodes in advance about which accounts and storage data will be used in the block, allowing nodes to fetch data and check unrelated transactions simultaneously, whereas the current Ethereum mostly processes related work sequentially, limiting the amount of activity each block can accommodate. About an hour after the testnet launch, Glamsterdam raised the block gas limit from 60 million to 200 million, freeing up space for more payments, token swaps, and other activities per block.The 200 million gas limit allows Ethereum to absorb more activity before users start bidding for block space, thereby alleviating fee spikes during transaction surges or when popular tokens are launched. Larger blocks are also harder to verify, which may make it difficult for small-scale operators to keep up. Glamsterdam aims to gain additional capacity without excessively increasing chain operating costs. This upgrade also extends the block data propagation time from about 2 seconds to 9 seconds and plans to incorporate the handover and payment of block construction and verification into Ethereum's own rules, reducing reliance on external relay services.
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