Asian Leveraged AI Bet Hits Record: SK Hynix's 2x Long ETF AUM Reaches $13 Billion

SoftBank Group has successfully secured a $10 billion margin loan using its stake in OpenAI as collateral. The two-year loan is provided by a consortium of lenders including Goldman Sachs, JPMorgan Chase, Mizuho Securities, Apollo Global Funding, and Sumitomo Mitsui Banking Corporation (SMBC). SoftBank plans to complete the fund drawdown this month.

Citigroup research report cuts SanDisk (SNDK.O) price target from $2,500 to $2,100.

OKX Wallet announced in a Chinese post that X Layer’s DeFi total value locked (TVL) has surpassed $100 million, growing nearly tenfold over the past six months. Meanwhile, X Layer’s stablecoin issuance volume has exceeded $2 billion, ranking among the top 10 global public blockchains. Its cumulative active addresses have broken through 4.2 million, and cumulative on-chain transactions exceed 400 million. OKX Wallet noted that with continued liquidity accumulation and steady growth in its user base, its next step will be to attract more assets, applications, and users to X Layer, driving the public blockchain to support more real-world demands and further refine its ecosystem development.

Crypto exchange Bitget has recently signed a cooperation agreement with Bhutan’s Gelephu Mindfulness City Authority (GMCA). Under the terms of the deal, Bitget will establish a legal entity in Gelephu Mindfulness City (GMC), prepare applications for relevant financial service licenses under the regulatory framework of the Gelephu Financial Services Office (GFSO), and collaborate with GMCA on operational, regulatory, and ecosystem development workflows. Per the plan, Bitget will also gradually set up local offices and carry out local recruitment, supporting local talent cultivation and long-term development. As a special administrative zone in southern Bhutan, GMC is being built into a next-generation international financial and innovation hub, with its virtual asset regime governed by the Financial Services Act 2025. Jigdrel Singay, a director of the GMC Board, noted that bringing in partners like Bitget will help introduce global expertise while advancing local capabilities and the broader financial ecosystem.

Renowned investment management firm Roundhill will launch an optical module stock ETF tomorrow. According to its official website, the ETF is named LYTE. Its major holdings include Lumentum Holdings Inc (LITE) at 15.42% and Coherent Corp (COHR) at 15.23%, while Chinese A-share companies Sunway Communication, China Information Technology, and Topband account for 14.59%, 14.22%, and 7.9% of the portfolio respectively.

Jiang Zhuoer, founder of Leibit Mining Pool (B.TOP), has projected the bottom of the current Bitcoin bear market by analyzing the previous three Bitcoin bull-bear cycles. "Based on historical data fitting, the drawdown ratios of the four cycles are 86.9%, 84.1%, 77.6%, and 65.1% (current cycle forecast), corresponding to a BTC price of $44,016, with the expected occurrence date being October 31," he stated.