New York Stock Exchange listed company Cango increases its holdings by 472 Bitcoins, bringing the total holdings to 1,944 Bitcoins

Gate Founder and CEO Dr. Han attended Singapore’s TOKEN2049 conference and delivered a keynote speech on the main stage. During the speech, Dr. Han formally announced the launch of Gate Money, stating: “Accounts should not be boundaries for funds. Gate Money supports one-click opening of global bank accounts under the same name, breaking down barriers between assets, funds and payments to enable free capital flow.” Dr. Han noted that the development of stablecoins, real-world assets (RWA) and blockchain payment infrastructure has empowered more assets with digital liquidity and instant settlement capabilities, making asset holding, transfer and use increasingly integrated. Based on this shift, Gate Money connects bank accounts with digital assets, fiat currencies, stocks, ETFs, gold and payment services. Eligible users can open their own global bank e-accounts with one click, supporting receipt of over 60 local currencies. They can complete fund transfers, asset conversion and management within the Gate App, and use the Gate Card for online and offline payments with fiat or digital assets. The launch of Gate Money marks Gate’s financial services expanding beyond trading and asset management to cover capital flow and daily consumption, unifying different assets, funds and payment scenarios into a single ecosystem. Users can now activate Gate Money with one click by updating the Gate App to version 8.39.0. Going forward, Gate will further expand asset categories, payment methods and financial service capabilities, and continue building a comprehensive financial service system connecting assets to real-world consumption.

According to Iranian media outlet Fars News, Iran has reaffirmed that the Strait of Hormuz will remain closed until its relevant demands are fulfilled. Additionally, an advisor to Iran’s Revolutionary Guards stated that Iran will soon block "illegal" shipping lanes in the Strait of Hormuz.

According to Bloomberg, Intel CEO Pat Gelsinger stated in an October 7 interview in Tokyo that Intel will continue to participate in Elon Musk’s Terafab project. Intel signed a deal in April this year to become a development partner for the project, and this confirmation means the company has not withdrawn from it. Earlier, Musk revealed he was in talks with TSMC over potential collaboration on Terafab, sparking market concerns that Intel’s role in the project could be impacted by TSMC’s involvement, which pushed Intel’s stock price down 3.9% at one point. Terafab is a key initiative for Musk to enter the advanced chip manufacturing space. As AI infrastructure continues to expand, global demand for chips and related equipment is growing, leaving multiple segments of the supply chain facing capacity pressure. Bloomberg previously reported that Musk has asked suppliers to accelerate progress on Terafab, with various suppliers including those of ball bearings, chip manufacturing equipment, industrial chemicals and rails currently operating at full capacity.

U.S. Commerce Department data shows that the U.S. trade deficit in goods and services rose to $105.6 billion in August, up 13.7% from the revised $92.8 billion in July, marking a 17-month high. Imports climbed 4.3% month-over-month to $420.8 billion, an all-time record, while exports grew just 1.4% to $315.2 billion. The import surge was primarily driven by capital goods: U.S. capital goods imports rose $6.2 billion to $146.4 billion in August, also hitting an all-time high, with strong demand for products tied to AI data center construction, including advanced semiconductors and industrial electromechanical equipment. Analysts point out that while the Trump administration sought to curb imports and narrow the trade deficit via tariff hikes, robust U.S. consumer spending and corporate capital expenditures—especially the boom in AI computing infrastructure investment—are offsetting the tariffs’ restrictive effect on imports. As domestic U.S. alternative production capacity has not yet materialized, companies still need to source high-end chips, servers and industrial equipment from overseas. Tariffs have mostly shifted suppliers and trade routes rather than reducing overall import demand. Meanwhile, the import surge is expected to continue weighing on U.S. third-quarter GDP, but strong private consumption and corporate capital spending may still push the third-quarter GDP annualized growth rate above 3%.

Crypto analyst Ted posted that as a large number of "junk L2s" gradually exit the market, and projects like Abstract and Blast announce shutdowns, his outlook on Ethereum has grown more optimistic. Ted notes the trend’s lesson is straightforward: projects should build directly on the Ethereum mainnet, rather than constantly creating redundant chains designed to extract value from their own communities. He stated: "Stop creating unnecessary chains."

According to market data from BIT (bit.com), US crypto-related stocks declined across the board in pre-market trading, with MSTR down 3.20%, CRCL down 2.27%, COIN down 2.07%, HOOD down 1.88%, BMNR down 4.35%, SBET down 3.79%, and PURR down 2.72%.