Vitalik: 51% attacks can't rewrite blocks, but off-chain trust creates new risks. Ethereum co-founder Vitalik Buterin published a post emphasizing that a key security property of blockchains is that even a 51% attack can't render invalid blocks valid. Therefore, collusion among 51% of validators or software glitches can't steal user assets. However, he warned that if validators begin to be relied upon to perform tasks outside the chain's control, 51% of validators could collude to produce erroneous results, leaving users without protection. SoftBank Group Approves $22.5 Billion Investment in OpenAI SoftBank Group approved a $22.5 billion investment in OpenAI on the 25th. SoftBank previously invested $10 billion in OpenAI in April of this year. The funds will primarily support OpenAI's R&D and commercialization efforts, including hardware development and model training. OpenAI is advancing its $40 billion mega-round to prepare for an eventual public offering. SoftBank is the lead investor, securing 75% of the funding round. In parallel with this substantial investment, OpenAI is actively developing its AI music platform. Reports indicate that OpenAI is collaborating with an American music conservatory to focus on developing musical notation data to provide high-quality data for training new models. While OpenAI has already developed a music generation model, due to technical and computational limitations, the generated music still lags behind human-generated works. Furthermore, the use of AI-generated music could pose legal risks. OpenAI's generative methods, leveraging AI technology, cover a wide range of fields, including text and conversation, image generation, and video generation. Recently, OpenAI also launched an AI browser that deeply integrates ChatGPT into its workflow.
Market
As of press time, according to Coingecko data:
BTC price is $114,528, up or down 24 hours by 2.6%;
ETH price is $4,169.90, up or down 24 hours by 5.4%;
BNB price is $1,139.87, up or down 24 hours by 2.1%;
+3.1%; The price of DOGE is $0.2061, with a 24-hour increase or decrease of +4.7%; The price of XRP is $2.66, with a 24-hour increase or decrease of +2.3%; The price of TRX is $0.3009, with a 24-hour increase or decrease of +1.0%; The price of WLFI is $0.149, with a 24-hour change of +8.2%. The price of HYPE is $47.66, with a 24-hour change of +8.0%. The State Council's report on financial work: A moderately accommodative monetary policy must be implemented in detail. The State Council's report on financial work was submitted to the 18th meeting of the Standing Committee of the 14th National People's Congress for deliberation on the 26th. The report pointed out the need to implement a moderately accommodative monetary policy in detail to create a suitable monetary and financial environment for consolidating and expanding the positive momentum of economic recovery. We will effectively implement all existing monetary policy measures, continuously unleash their effectiveness, and research and prepare new policy measures. We will strengthen the implementation and oversight of interest rate policies to drive down overall social financing costs. (Xinhua News Agency) Joint Statement from the United States and Vietnam: The United States will maintain its 20% tariff increase on Vietnam. The United States will identify relevant products and potential tariff adjustment plans for reciprocal zero-tariff treatment with its partners. We will work constructively to resolve non-tariff barriers.
▌The Monetary Authority of Singapore has launched an investigation into DW Capital Holdings, a local family office involved in the "Prince Group".
According to Lianhe Zaobao, the Monetary Authority of Singapore has launched an investigation into DW Capital Holdings, a local family office involved in the "Prince Group". It is reported that the institution was founded in 2018 by Chen Zhi, the head of the "Prince Group". The asset management scale exceeds 60 million Singapore dollars and it claims to meet the conditions of the 13X plan of the Monetary Authority of Singapore, therefore enjoying tax exemption. Data shows that the number of single family offices in Singapore that have received tax incentives from the Monetary Authority of Singapore will increase from 1,400 at the end of 2023 to more than 2,000 at the end of 2024, an increase of 42.9%. Solana Co-founder Toly, a co-founder of Solana, published a statement on the X platform stating that the claim that "Layer 2 inherits Ethereum's security" is false. During the five years of the Layer 2 network roadmap, Ethereum circulating on the Solana network through Wormhole faced the same extreme risks as Ethereum on the Base network, and generated the same level of returns for Ethereum Layer 1 validators. Regardless of the analysis, the claim that "L2 inherits ETH's security" is false.
▌Marinade CEO: Solana Alpenglow Upgrade May Lower Validator Entry Barriers
▌Marinade CEO: Solana Alpenglow Upgrade May Lower Validator Entry Barriers
Marinade Labs CEO Michael Repetny stated that the Solana ecosystem is preparing for an upgrade by the end of this year or early 2026. The Alpenglow upgrade is planned to lower the threshold for validator entry while also increasing bandwidth and reducing latency. Currently, running a Solana validator costs approximately $5,000 per month, of which $4,000 (80%) goes toward voting fees. The Alpenglow upgrade will significantly reduce these voting fees, making validator node operation more affordable for more participants.
▌Data: Arbitrum One Has Processed Over 2 Billion Transactions Since Launch
▌According to Token Terminal, Arbitrum One has processed over 2 billion transactions since its launch. Glassnode: Bitcoin's illiquid supply declines, with 62,000 BTC flowing out of long-term holder wallets. According to Glassnode data, approximately $7 billion in Bitcoin has been transferred from long-term holder wallets since mid-October, causing a decline in Bitcoin's illiquid supply and potentially making it more difficult for a Bitcoin price rebound to gain momentum. Glassnode noted that approximately 62,000 BTC have flowed out of long-term inactive wallets since mid-October, marking the first significant decline since the second half of 2025. Bitcoin prices have retreated in recent weeks from their all-time high of over $125,000 reached in early October and are currently trading around $113,550 (data from The Block). Glassnode wrote on X: "Interestingly, whale wallets are actually still accumulating during this period. Whale wallets have been increasing their holdings in the past 30 days and have basically not sold significantly since October 15th." Glassnode also pointed out that wallets holding $10,000 to $1 million worth of BTC have seen the largest outflows, and have been selling since November of last year. "Trend buyers have basically left the market, and there is insufficient demand from bargain hunters to absorb the selling pressure," said Glassnode. "First-time buyers are staying on the sidelines. This supply and demand imbalance is suppressing prices until stronger spot demand returns."
▌Fortune discloses donors to the White House banquet hall, including Ripple, Gemini, etc.
Fortune magazine disclosed that a total of 37 donors provided funds for the construction of the White House banquet hall, including Silicon Valley technology giants and cryptocurrency companies, among which: corporate donors include Meta, Apple, Amazon, Google, Lockheed Martin, Microsoft, Comcast, Altria, Hard Rock International, Micron Technology, Caterpillar, Booz Allen Hamilton, HP, Booz Allen Hamilton, NextEra Energy, Reynolds American, T Mobile, Palantir Technologies, and encryption companies include Tether America and Ripple; private and family donors include: Adelson Family Foundation, Stefan E. Brodie, the Betty Wold Johnson Foundation, Charles and Marissa Cascarilla, Edward and Shari Glazer, Harold Hamm, Benjamín Leon Jr., the Lutnick family led by U.S. Secretary of Commerce Howard Lutnick, and Gemini co-founders Cameron Winklevoss and Tyler Winklevoss, among others. USDe supply exceeds 5.8 billion, setting a new all-time high. According to data from the DeFilama platform, as of October 24, USDe supply exceeded 5.8 billion, reaching 5.821 billion, setting a new all-time high, with an increase of 10.83% over the past 7 days.
▌Peter Schiff: Not ready to issue tokens yet, considering accepting CZ's invitation to Dubai
In response to "CZ's invitation to participate in the Bitcoin and tokenized gold debate in Dubai in December", cryptocurrency critic Peter Schiff replied on the X platform, "I am not ready to issue tokens yet, but it is indeed in my plan. Dubai is a long way from Puerto Rico, but I am considering this invitation. I have communicated with a common contact in Dubai about the relevant matters. You should also let your team contact them."
▌A whale sold 99,979 SOL and has now exchanged for 4532 ETH
According to Lookonchain monitoring, a whale sold 99,979 SOL, worth US$18.5 million. The whale currently bought it at a price of US$4,084 4,532 ETH. ▌Suspected HEX founder begins transferring another 11,500 ETH to Tornado Cash. According to on-chain analyst Ai Yi, Richard Heart, the suspected founder of HEX and PulseChain, transferred 10,900 ETH to Tornado Cash on October 24th. On the evening of October 26th, he transferred another 115,000 ETH to a new address, beginning the transfer to Tornado Cash in batches. Currently, 7,300 ETH, worth $29.56 million, has been transferred from the receiving address. The TVL of the Real-Wa (RWA) sector has surpassed $18 billion, reaching a new all-time high. According to DefiLlama data, the TVL of the Real-Wa (RWA) sector has surpassed $18 billion, currently at $18.036 billion, a new all-time high. Among these, BlackRock BUIDL TVL reached $3.315 billion; Tether Gold TVL reached $2.143 billion; and Ethena USDtb TVL reached $1.83 billion. ZEC's market capitalization has surpassed $5 billion, reaching a new all-time high. According to Coingecko data, ZEC surpassed $300, briefly reaching $306.84, a 24-hour increase of 12.2%. Its market capitalization has surpassed $5 billion, a new all-time high. It is reported that Zcash is scheduled to undergo a halving next month, and its issuance is expected to drop significantly.
Important Economic Developments
▌Li Chenggang: China and the United States reached preliminary consensus on the proper resolution of several important economic and trade issues
From October 25th to 26th, local time, China and the United States held economic and trade consultations in Kuala Lumpur. After the consultations, Li Chenggang, China's International Trade Representative and Vice Minister of Commerce, told Chinese and foreign media reporters that the two sides had reached preliminary consensus on the proper resolution of several important economic and trade issues of mutual concern, and the next step would be to carry out their respective domestic approval procedures. "Over the past month or so, China-US economic and trade relations have experienced some shocks and fluctuations, which have attracted great global attention." Li Chenggang stated that since the China-US Geneva economic and trade talks in May this year, China has strictly adhered to the consensus reached in multiple phone calls between the two heads of state, faithfully and conscientiously implemented the consensus reached in the economic and trade consultations, and carefully nurtured the hard-won and relatively stable China-US economic and trade cooperation relationship. "These shocks and fluctuations are not what China wants to see." (Xinhua News Agency) ▌US Media: Trump's friend who donated $130 million to military pay is suspected to be billionaire Timothy Mellon On October 23rd local time, US President Trump announced at the White House that one of his friends and "patriots" donated $130 million to the US government to pay US military salaries during the federal government shutdown. Trump refused to disclose the donor's identity, only calling him "a great American citizen" and "a powerful person." In an interview aboard Air Force One on the 24th, Trump said, "He doesn't want publicity. He wants his name not to be mentioned—which is quite unusual in the world I come from. In politics, people generally want their names mentioned." However, the New York Times on the 25th, citing sources, identified the mysterious donor as retired American billionaire Timothy Mellon, a major Trump donor who has invested hundreds of millions of dollars in support of Trump and the Republican Party in recent years. The report states that Mellon, 83, is a US railroad magnate, and Forbes magazine estimates his net worth to be close to $1 billion. The Mellon family is one of the wealthiest in the United States, with a combined net worth exceeding $14 billion. Mellon's grandfather, Andrew Mellon, served as US Treasury Secretary from 1921 to 1932, making him one of the longest-serving Treasury Secretaries in US history. (Observer Network) Trump: Trade negotiations with many other countries are nearing completion. The United States will maintain its 19% tariff on Thailand and set some subsidies. Will Google's Willow quantum chip affect Bitcoin security? Google's Willow chip heralds a new era of quantum performance, enabling complex calculations and significantly impacting a variety of industries, including cryptography. Quantum computing has reached a major milestone with the launch of Google's 105-qubit Willow chip, based on the company's Sycamore processor. Willow nearly doubles the number of qubits in Sycamore, unlocking the ability to handle exponentially more complex calculations. One of Willow's most notable advances is its progress in quantum error correction, a key step towards scalable, fault-tolerant quantum systems. In benchmarks such as random circuit sampling (a test in which quantum computers demonstrate their capabilities by solving complex problems), Willow completed tasks in minutes that would take conventional supercomputers billions of years. Quantum computers using algorithms such as Shor and Grover have the potential to solve complex problems exponentially faster, potentially breaking traditional encryption algorithms. The launch of powerful quantum computers like Willow has raised concerns about their impact on cryptographic security, including the impact of the Willow chip on cryptocurrencies. Bitcoin and many other blockchain systems rely on cryptographic algorithms designed to resist classical attacks. However, concerns have been raised about the potential impact of quantum computing on cryptographic security. Google's Willow quantum chip does not currently pose a direct threat to Bitcoin's cryptographic system. Cracking Bitcoin's ECDSA or SHA-256 would require at least 1,500-3,000 fault-tolerant logical qubits, far beyond the capabilities of Willow. The scalability of current quantum systems is not yet sufficient to challenge Bitcoin's robust defenses. Bitcoin's layered cryptographic structure, combining ECDSA and SHA-256, ensures resistance to today's quantum technologies. This technological gap currently ensures the security of Bitcoin's cryptographic protections.
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