Google updates crypto advertising policy, clarifies licensing requirements for ad placements in the UAE effective October 21.

According to Lookonchain’s statistics, among the top 25 biggest losers on Papertrade, 21 remain in the red even after receiving USDC rewards, while only 4 are net profitable overall. These traders have collectively generated $111.5 billion in trading volume and earned 2.06 billion PAPER tokens, accounting for 23.4% of the total token supply. They have collectively claimed $11.61 million in USDC rewards, representing 20.6% of the total rewards distributed.

The Hyperliquid Policy Center is urging the U.S. Securities and Exchange Commission (SEC) to exclude airdrops from the definition of securities. Its specific proposals include codifying the SEC’s March 2026 stance into rules: that free airdrops do not constitute "money investments" and thus are not investment contracts. The policy center also seeks to extend this rule to announced airdrops—including periodic or regular distributions—on the condition that the network is fully operational, eligibility is based on usage or contributions (such as trading, validation, liquidity provision, or governance), and the airdrop is not used as a fundraising vehicle. The Hyperliquid Policy Center maintains that an investment requires tangible, identifiable consideration, and airdrops qualify as rewards rather than investments. Claim-related actions like connecting wallets, signing transactions, paying gas fees, completing KYC/AML, or accepting terms of service should not be deemed consideration. Furthermore, the rule should apply retroactively to past airdrops or cover Hyperliquid’s native airdrops.

NEAR Protocol announced via X that its hackathon will run from 8:00 AM (Beijing Time) on November 1 to 7:59 AM on November 15. The judging period is scheduled from November 16 to 18, with results to be released no later than 7:59 AM on November 19. The event focuses on building intelligent agents, autonomous payment, and cross-chain value transfer applications using tools including NEAR Intents, NEAR AI Cloud, and Chain Signatures. The total prize pool is $250,000, payable in NEAR tokens. Participants can join individually or in teams, and submissions require a public code repository plus a public demo posted on X. The hackathon features 13 tracks, with a judging panel that includes Illia Polosukhin, Mert Mumtaz, Eddy Lazzarin, and other members.

Most traders on @papertrade_xyz are losing money. Of the top 25 biggest losers, 21 are still in the red after USDC rewards, while only 4 are profitable overall. Together, they generated $111.5B in trading volume and earned 2.06B $PAPER (23.4% of supply). They also claimed

Bitget has launched four popular stock perpetual contracts: CSTOCK (Citibank), MDT (Medtronic), BP (British Petroleum), and VLO (Valero Energy). The contracts are settled in USDT, support up to 20x leverage, and enable 24/7 trading. As of now, Bitget supports a total of 368 stock contract underlyings.

Beating AI News Insight: The U.S. Treasury Department on October 19 added MiraclePlus, founded by Lu Qi, and three of its affiliated entities to its sanctions list. Shanghai Zhisuan Technology was also sanctioned in the same batch, bringing the total number of Chinese entities targeted to five. Sanctions include freezing assets under U.S. jurisdiction, restricting financial transactions, and prohibiting U.S. persons from making certain equity and debt investments. The sanctions stem from the trade secret theft case of former Google engineer Ding Linwei. The U.S. Department of Justice said Ding secretly uploaded more than 2,000 pages of internal Google documents during his tenure, covering TPUs, GPUs, and AI supercomputing infrastructure. Ding later founded Shanghai Zhisuan Technology, and when pitching projects at MiraclePlus’s startup camp, he claimed to be able to replicate Google’s AI supercomputing technology. The U.S. State Department disclosed that MiraclePlus provided seed funding to Ding and received equity in his company, leading to its designation as having provided significant support to the relevant trade secret theft activities. In January this year, a jury found Ding guilty of seven counts of trade secret theft. However, a judge in August dismissed seven additional counts of economic espionage, ruling there was insufficient evidence to prove he intended to benefit the Chinese government. The U.S. Treasury Department allows MiraclePlus and its three affiliated entities to wind down existing transactions gradually under a transitional license until January 19, 2027.