surf

As Japan ends its holiday, the risk of yen intervention has once again become the focus. The yen has fallen for two consecutive weeks, approaching the 160 mark. Strategists believe that the 160 mark will once again test Japan's tolerance for yen depreciation.Strategists at the Commonwealth Bank of Australia stated that if the USD/JPY breaks above 160, it will increase the likelihood of official intervention, especially considering that Japan has recently conducted a currency check.

According to CoinDesk, the stock price of the cryptocurrency platform Gemini has fallen by about 80% since its listing, with its market value dropping from a peak of approximately $4 billion to $753 million. Trading volume, revenue, and platform assets have all continued to decline, leading to renewed speculation about a potential acquisition. Gemini's exchange revenue in the second quarter decreased by 38% year-on-year to $12.5 million, spot trading volume fell by 66% to $3.8 billion, and platform assets decreased from $18.2 billion to $8.4 billion.Lorenzo Valente, Director of Digital Asset Research at ARK Invest, posted on X last month that the offshore perpetual contract platform Hyperliquid should acquire Gemini, using it as a gateway to enter the regulated U.S. market for perpetual contracts and prediction market business. The Winklevoss brothers hold 94.5% of the voting rights in Gemini, which may simplify transaction negotiations but also means that any sale must be approved by both individuals. There are currently no signs that Hyperliquid is actively pursuing an acquisition.Despite the decline in exchange business, Gemini still holds regulatory licenses and approvals that are difficult for competitors to replicate. Potential buyers may weigh the cost of acquisition against the time and legal fees required to apply for licenses independently. This aligns with the trend in cryptocurrency mergers and acquisitions where buyers increasingly value regulatory infrastructure, distribution channels, and market access, such as Keyrock's acquisition of BlockFills' trading assets and Ondo exploring an acquisition of up to $500 million. CoinDesk reported in April that potential buyers were considering acquiring Gemini's closed European and UK operations to obtain licenses. Gemini declined to comment on this.

According to on-chain analysts, a certain address withdrew 4,827 ETH from Coinbase at 1:35 AM today, worth 11.52 million USD, when the ETH price was 2,416.14 USD.Subsequently, ETH dropped to a low of 2,358.88 USD, and the position once incurred a loss of 276,000 USD, but has now returned to profit as the coin price rebounded.

According to Jinshi reports, the White House stated that Trump believes it is appropriate to implement tariff quotas on imported quartz surface products for the next four years.

According to Jinshi, the yield on the U.S. 2-year Treasury bond rose to 4%, increasing by 10 basis points during the day; the latest pricing of interest rate futures shows that the Federal Reserve is expected to raise rates by about 15 basis points by the end of this year.

With the U.S. Supreme Court rejecting President Trump's previous emergency tariff measures, Trump immediately announced the reactivation of a temporary tariff of up to 15% based on other trade laws, increasing trade uncertainty and putting pressure on risk appetite in the cryptocurrency market.Data from the options trading platform Deribit shows a significant increase in open contracts for put options on Bitcoin with strike prices of $58,000, $60,000, and $62,000, indicating that traders are hedging potential downside risks by buying put options. Put options are typically used to provide protection when prices fall. Market analysis suggests that the repeated imposition of tariff policies, combined with macroeconomic uncertainty, may continue to exert pressure on risk assets, including crypto assets.

According to Fortune, the specialized AI platform Surf, designed for the cryptocurrency sector, announced the completion of a $15 million funding round, led by Pantera Capital, with participation from Coinbase Ventures and Digital Currency Group.Surf launched its invitation-only product in July and opened to the public in September. According to company data, the platform currently has over 300,000 users and has generated more than 1 million search results. Li stated that Surf can answer a variety of cryptocurrency questions, ranging from basic to deep technical inquiries, with 80% of its users not being professionals in the crypto industry, while the remaining 20% come from venture capital, exchanges, and other crypto-related institutions.The startup claims its revenue has reached several million dollars and hopes to grow to $10 million by the end of 2026. Surf's revenue model is subscription-based, with users paying between $15 and $399 per month depending on the tier. The platform also offers a free version, but the number of questions that can be asked daily is limited. The company currently has fewer than 30 employees.Li views the company's main competitors as mainstream AI models like ChatGPT, Perplexity, and Grok. According to a benchmark report co-authored with Princeton University, Surf's performance on crypto tasks is four times that of ChatGPT and Grok.

According to the 10x Research report, Bitcoin's price has shown limited fluctuations recently, but the pricing in the derivatives market has begun to reflect potential significant market changes.The report points out several structural signals in the market: volatility is being bought rather than sold, option skew has shifted back towards downside protection, funding rates have decreased, futures open interest is showing divergence, and there is a continued net outflow from ETFs. The report believes that although the market appears stable at first glance, the funding positions and pricing structure indicate that the market is preparing for unexpected events. Bulls typically view the rebuilding of the U.S. Treasury general account, the end of quantitative tightening, and potential interest rate cuts as liquidity positives, but if the market structure lacks consistent support, macro expectations are unlikely to drive a sustained trend. 10x Research notes that merely having liquidity is not enough to create directional trends; it is still necessary to observe whether leverage levels, position structures, and trading flows are synchronized. This weekly report covers Bitcoin and Ethereum's derivatives positions, volatility trends, funding rates, ETF and stablecoin flows, options activity, as well as potential ranges and key catalysts for the next 1 to 2 weeks.

According to Jinshi reports, Bitcoin fell back after reaching a one-week high overnight, hitting $107,454, and is now down 0.5% to $105,011. The market is optimistic that the record government shutdown in the United States may soon come to an end, but as new concerns about trade tensions emerge, risk sentiment in Asian markets has faced setbacks.

ChainCatcher news, the PerpDEX platform Surf Protocol today announced the completion of a comprehensive brand and system upgrade, officially launching the fully on-chain version TurboFlow. TurboFlow is a PerpDEX dedicated to providing an ultimate trading experience for retail investors within a secure and transparent framework. It offers more flexible trading options, with some cryptocurrencies supporting up to 1000x leverage; it features a unique zero-fee profit-sharing model that can be chosen alongside the traditional fee model, both maintaining the lowest industry rates; it has a more user-friendly risk control system, with the liquidation maintenance margin rate being the lowest in the industry, helping users achieve more controllable risk management in a high-leverage environment; the platform's prices are derived from a weighted average of multiple exchanges, avoiding extreme market spikes.According to reports, TurboFlow is built on an independent Layer 1 architecture, with all trading data and asset migrations on-chain, achieving verifiability and traceability. User assets will be automatically migrated to the new platform with one click, and the entire process will be covered by the official Gas costs. The web and mobile versions have been launched simultaneously. The original orders on the Surf platform will stop accepting new orders starting from November 3 (UTC+8), and all settlements and migrations will be completed by November 17 (UTC+8). TurboFlow founder Tony He is a co-founder of the Nasdaq-listed company Amber Group, with extensive experience in financial derivatives and the blockchain industry. Tony stated that TurboFlow's goal is "to make transparency the underlying logic of the system, providing retail investors with a professional, smooth, and fair trading experience."

ChainCatcher message, according to the Web3 asset data platform RootData X tracking data, in the past 7 days, connecting real-world collectibles to the blockchain Collector has become the project with the most new X (Twitter) top personality followers. New influential figures on X who have followed this project include anonymous Twitter KOL Inversebrah(@inversebrah), well-known analyst 0xWizard(@0xcryptowizard), and SpiderCrypto(@SpiderCrypto0x).In addition, the projects with the most top personality followers on X also include Surf and Goblin.

ChainCatcher message, according to the tracking data from the Web3 asset data platform RootData X, in the past 7 days, the crypto AI command hub Surf has been the project with the most new followers among X (Twitter) Top personalities. New influential figures following this project include cryptocurrency analyst Phyrex (@Phyrex_Ni), SpiderCrypto (@SpiderCrypto0x), and the main organizer of the Benmo community, Super Jun (@Super4DeFi).

ChainCatcher news, according to The Wall Street Journal, Google has agreed to pay approximately $2.4 billion to acquire the technology license from AI programming startup Windsurf and hire its CEO and some employees. This deal was reached after negotiations for the acquisition of Windsurf by OpenAI stalled.

ChainCatcher news, according to Fortune, Google has reached a licensing agreement with coding startup Windsurf, ending OpenAI's $3 billion acquisition proposal for the startup, as the exclusivity period for the deal has expired.The failure of this deal is a setback for ChatGPT maker OpenAI, as the generative AI startup faces talent poaching from competitors like Meta.An OpenAI spokesperson confirmed to Fortune that the exclusivity period for the $3 billion acquisition deal with Windsurf, reached in May, has expired, allowing Windsurf to freely pursue other options.

ChainCatcher news, in the face of the Trump administration's new round of tariff threats, the initial reaction of the bond market was to sell U.S. Treasuries, with the 10-year Treasury yield rebounding from an early low. However, the volatility was not significant. Clearly, investors generally expect that the aggressive proposal to impose a 50% tariff on EU imports will ultimately be significantly weakened in negotiations, just like the previous tariffs on China.John Madziire, a strategist at global asset management giant Vanguard, stated, "The market has calmed down now because this has happened before, and we know what happened later. It's like the story of 'The Boy Who Cried Wolf'; people are taking it less seriously." He added, "The government is not acting recklessly; they have their own plans, and there are limits to how far they can go."