Temasek warns of two major market risks in 2027: AI trading reversals and inflation-driven interest rate hikes.

According to Bitget’s official data, the real-time cumulative prize pool for its “Peer Program” has reached 3.49 million USDT. Prior data shows that the program’s first two batches have distributed nearly 2.8 million USDT in total rewards to over 1.5 million users. The campaign will run until October 26. During the event, Bitget will allocate 30% of the platform’s transaction fee revenue to establish a dedicated user prize pool, and eligible users can participate in the reward distribution without registration.

According to Bloomberg, citing internal EU meeting minutes, EU member states generally hold that the G7’s announcement last week of a coordinated release of 100 million barrels of crude oil and diesel does not require Europe to further draw down strategic reserves on a large scale beyond its prior commitments. The EU is inclined to cap subsequent releases at the volume agreed in March this year, meaning there may be a significant gap between the G7’s cited "100 million barrels" and actual new supply going forward. The G7 previously announced that, under the coordination of the International Energy Agency (IEA), it would release a total of 100 million barrels of crude oil and diesel over the next four months, and called for diesel to be prioritized and brought forward significantly in the first 20 days. However, as of now, no EU member state has explicitly committed to additional inventory releases within this timeframe. In March this year, IEA members agreed on a plan to release around 400 million barrels of strategic crude oil and refined products, with EU member states collectively accounting for roughly 20% of that volume. As of early October, about two-thirds of the quota has been released, with the remaining part still to be fulfilled. The EU’s current mainstream stance is to fulfill existing commitments rather than expand the overall release volume; some member states have called on the IEA to first assess the impact of prior releases on the market and energy security. On the diesel front, Europe may agree to bring forward its existing quota originally scheduled for later release, but is reluctant to add extra volumes. European policymakers worry that, against the backdrop of fragile Middle East supply chains and rising winter energy demand, depleting strategic reserves prematurely could weaken its ability to respond to future supply shocks.

Polygon co-founder Sandeep Nailwal has responded to controversial marketing content that sparked debate: Polygon’s official X (Twitter) account posted a “Polygon is not dead” announcement, which was widely interpreted as a jab at the shutdown of Abstract. He stated the content’s actual effect differed from expectations, leading to entirely misaligned readings. Nailwal added that he was also deeply shocked when he first saw the post that morning in Singapore. Sandeep clarified that the Polygon marketing team intended the line as self-deprecating—for a long time, people have been claiming “Polygon is dead”, while the network’s fundamentals have actually remained strong and improving. The team had no intention of referencing Abstract’s shutdown, he emphasized. “I have immense respect for Abstract founder Luca Netz and his team,” Nailwal said. “We would never do that, as Polygon itself has experienced the pain of terminating its own zkEVM.” He also expressed support for Luca and the Pengu team, calling Luca one of the industry’s top entrepreneurs and noting he will continue to back his team.

According to EmberCN’s monitoring, a whale or institutional address has recently deposited margin to three addresses, holding long positions of BTC and ETH worth approximately $352 million on Hyperliquid—including 1,140 BTC and 98,090 ETH. The long positions were established about half a month ago, with an average entry price of around $82,205 for BTC longs and $2,604 for ETH longs. The overall position is currently posting an unrealized profit of roughly $2.66 million.

Two wallets withdrew 114.9M $龙虾 ($6.9M) from #KuCoin and #Gate today, accounting for 11.49% of the total supply.

Stablecoin payment firm Rain has applied to the U.S. Office of the Comptroller of the Currency (OCC) for a national trust bank charter, with plans to establish Rain National Trust in New York to offer institutional clients digital asset and U.S. dollar custody, stablecoin reserve management, as well as U.S. dollar-pegged stablecoin issuance and redemption services. Rain noted that the proposed trust bank will not take deposits, issue commercial loans or offer consumer accounts, nor will it provide FDIC deposit insurance. Client assets will be segregated from the bank’s own assets, and stablecoin reserves will be directly managed by the bank, reducing reliance on third-party banks for asset custody, reserve management and stablecoin issuance and redemption processes. Rain’s application joins a wave of crypto firms competing for national trust bank charters. Companies including Circle, Ripple, BitGo and Fidelity have previously received preliminary OCC approval, with Circle securing final approval in July this year. However, the charter application still requires OCC review and a public comment period. Last week, the Independent Community Bankers of America (ICBA) sued the OCC, challenging its authority to grant national trust bank charters to crypto firms that do not offer traditional banking services.