Zhang Yingya, head of Alibaba’s Wan video model, has reportedly resigned after 11 years with the company; her team was integrated only three months ago.

According to a disclosure from the Osmosis Community Hall, the liquid staking token bOSMO issued by Backbone Labs has a redemption contract vulnerability. Since April 2026, the contract has been double-counting OSMO staked by Backbone’s own validators during each redemption, leaving users receiving roughly 50% more OSMO than they are entitled to, with the excess costs covered by other bOSMO holders. To avoid further harm to other holders during community fund pool redemptions, relevant parties redeemed around 776,000 bOSMO in a single transaction on October 10, extracting approximately 1.2997 million OSMO. The OSMO involved in this redemption is expected to complete unbonding on October 24. Osmosis announced it will compensate 1,037 accounts holding bOSMO at the snapshot, totaling about 40,508 OSMO, calculated at a pre-redemption rate of 1.1174 OSMO per bOSMO. The compensation will be automatically distributed after unbonding finishes on October 24, with no action needed from users. However, bOSMO’s asset backing has dropped sharply post-redemption: currently, redeeming 1 bOSMO via Backbone only yields around 0.06 OSMO. As the vulnerability remains unpatched, new bOSMO can still be minted at a cost of roughly 0.039 OSMO, which may cause some liquidity pools to have prices significantly deviating from actual redemption value. Osmosis therefore advises users not to purchase bOSMO or provide liquidity to related pools, and urges existing liquidity providers to withdraw their funds.

Korea Exchange has activated the sidecar mechanism for South Korea's KOSDAQ index.

Fed Chair Kevin Warsh said Friday he will not pre-judge interest rate decisions, and did not disclose whether the U.S. Federal Reserve will continue raising rates at its monetary policy meeting scheduled for October 27-28, or hold short-term interest rates steady as markets expect. Speaking at the 2026 IMF and World Bank Annual Meetings in Bangkok, Warsh noted that when the Fed raised rates in September, "we made it very clear that we will achieve price stability and have withdrawn a certain degree of monetary policy easing." He emphasized: "I will not pre-judge the decision of any meeting. I believe that now is not the time to disclose in advance what actions I may take at the remaining meetings this year."

Beating AI News Flash: Over a year after acquiring Bee, Amazon has launched two portable AI devices. The Bee Frontier, priced at $74.99, can be worn on the wrist or clipped to clothing, features dual microphones, offers up to 7 days of battery life, and is now available for purchase. The Bee Eclipse, priced at $99.99, is credit-card-sized, can be magnetically attached to the back of a phone, records audio from both sides of calls, boasts over 21 days of battery life, and is not yet on sale. Both devices, once activated, can continuously listen to daily conversations, summarize meeting content, scheduled times and to-do items, and integrate with apps like Gmail and calendars to draft follow-up emails and schedule meetings. Notably, Amazon has also integrated Bee with Alexa+ and its own e-commerce platform. For example, if a user mentions running out of dish soap during a conversation, after connecting to Amazon.com, they may see relevant recommendations on the shopping homepage. Last month, Amazon blocked Meta Muse’s automated shopping on its marketplace citing unauthorized access, and now it is integrating its own AI into shopping recommendations, moving to capture users at an earlier stage of their shopping needs. The free version only retains 14 days of memory; to access features like third-party app integration, Alexa+ and shopping recommendations, users need to subscribe to Bee Pro for $11.99 per month.

According to Bitget market data, South Korea's KOSPI index surged 4.00% intraday, currently trading at 5776.48 points. SK Hynix rose more than 4%, while Samsung Electronics gained 4.5%.

Federal Reserve Chair Walsh stated that the Federal Reserve has clearly committed to achieving price stability, adding that he does not support jumping to conclusions about meeting results and warned against pre-judging such outcomes.