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Coinbase said it fine-tuned the open-weight AI model "Qwen3.5-9B" using internal data to block fraudulent transactions on its platform, producing results that outperformed frontier models. Coinbase said specialized models can deliver sharply better processing speed and cost efficiency than large general-purpose models. To support that effort, Coinbase said it built a simple command-based fine-tuning capability into its internal development environment, allowing employees to quickly develop AI models tailored to specific functions such as risk reviews. Based on the case, Coinbase said enterprise AI architectures are likely to shift from a reliance on general frontier models to combinations of task-specific models, and a substantial share of existing backend systems could eventually be replaced by that structure.

Open interest on Papertrade, a new Hyperliquid-based perpetual futures DEX, plunged 93.7% to $693 million within 24 hours after topping $11 billion. Total value locked also shrank sharply to around $67 million from $118 million. Papertrade, which drew attention for offering leverage of up to 1,000x, also faced controversy over the prioritization of small-order processing and an attempted manipulation of oracle prices. The exchange said it had blocked attempts to distort Hyperliquid’s BBO quotes and defended the system, but the project’s early overheating cooled rapidly as liquidity left.

The cumulative investment amount in recurring cryptocurrency purchase services offered by South Korean exchanges has approached 1 trillion won, Yonhap News reported. Data submitted by five exchanges to lawmaker Park Sang-hyuk of the Democratic Party, a member of the National Policy Committee, showed that cumulative investment at the three platforms offering the service — Upbit, Coinone and DigitalX — reached 972.92 billion won ($697.6 million) as of the end of August, up 429.07 billion won, or 78.9%, from 543.85 billion won at the end of last year. The service automatically buys cryptocurrencies after users set the asset, purchase interval and amount. Bithumb and Gopax do not offer the service. By exchange, Upbit accounted for 897.71 billion won ($643.9 million), or 92.3% of the total, as of the end of August, up 402.65 billion won, or 81.3%, from 495.06 billion won at the end of last year. Over the same period, DigitalX rose to 63.26 billion won ($45.4 million), up 15.08 billion won, or 31.3%, while Coinone jumped to 1.195 billion won ($858,000) from 61 million won, an increase of 1.134 billion won, or 1,859%.

Binance founder Changpeng Zhao said on social media that the recent hack involving hardware wallet maker Ledger used a tactic fit for a movie. Zhao described the incident as both absurd and serious, saying hackers allegedly acquired a reseller company and even had it enter into a nondisclosure agreement in an apparent effort to keep the operation quiet. Zhao added that the case raises multiple legal and ethical concerns. Earlier, footage detailing the Ledger theft method, which caused losses of more than $80 million, was made public. A Malaysian store that sold devices with spy chips inserted had been listed for years as an official Ledger-certified reseller, and the hackers were found to have inserted spy chips into all of the wallets. The devices were then repackaged and shipped to victims, allowing the attackers to steal private keys.

Strategy Chairman Michael Saylor posted “주황색을 위한 자리는 항상 남아있다” on social media last night in what appeared to be a signal of another Bitcoin purchase. Strive CEO Matt Cole also hinted at an additional Bitcoin buy in a social media post overnight, sharing “Think ₿igger” alongside a Bitcoin tracker metric in a post modeled on Saylor’s. Cole indicated more Bitcoin purchase disclosures could follow this week, although official SEC filings may be released after Oct. 13, according to the source, as U.S. federal holiday effects delay publication.

According to CoinNess market monitoring, BTC has risen above $84,000. BTC is trading at $84,026.23 on the Binance USDT market.

NEAR has risen by 4.20% in the past five minutes on the COINNESS market. Currently, NEAR is trading at $5.89.

We provide real-time cryptocurrency investment updates 24 hours a day from 10:00 p.m. UTC on Sunday through 3:00 p.m. UTC on Saturday. Between 3:00 p.m. UTC on Saturday and 10:00 p.m. UTC on Sunday, investment updates are limited to major market-moving developments. Note: Overseas economic breaking news on the CoinNess Live app and CoinNess web service continues to be provided at all times.

A Texas business court on Oct. 2 dismissed a shareholder derivative suit tied to past misconduct allegations against Coinbase’s board, ruling the plaintiff failed to make a written demand on the board before filing the case. Coinbase moved its place of incorporation from Delaware to Texas in December 2025. The plaintiff argued the suit could proceed without a prior board demand under Delaware law because of the timing of the relocation, but the court found Texas law at the time of filing should apply. The dismissal was issued without prejudice, allowing the case to be refiled, and the court did not rule on whether the board had actually engaged in misconduct. Coinbase CEO Brian Armstrong welcomed the decision on Oct. 9 and said it could encourage more companies to incorporate in Texas.

Two wallets believed to belong to the same whale withdrew a total of 5,965 ETH worth about $14.89 million from Binance over the past 20 minutes, according to on-chain analyst ai_9684xtpa. The average withdrawal price was $2,496.95. The funding address for the wallets was also seen transferring similar amounts of USDC to several other new addresses. The analyst said the whale may be dispersing funds for additional ETH purchases.

South Korea’s cryptocurrency tax, set to take effect on Jan. 1, will not apply to profits from crypto futures and options trading on overseas exchanges under current law, KBS reported. Under the existing Income Tax Act, taxable income covers gains from transferring or lending virtual assets, meaning profits from spot crypto trading or lending on domestic and overseas exchanges are subject to tax. By contrast, futures and options are derivatives contracts whose returns are tied to price movements rather than direct transfers of the underlying crypto asset. KBS said that under the principle that taxes can be imposed only on income explicitly defined by law, those products cannot be taxed under the current rules. The Ministry of Economy and Finance said taxation is difficult because South Korea’s Financial Services Commission does not recognize crypto derivatives as financial instruments, while the Financial Services Commission said decisions on taxable items fall under the ministry’s authority. As crypto derivatives trading is banned in South Korea, the report said the gap also raises concerns over tax fairness between domestic users and traders using overseas exchanges.

France’s National Assembly Finance Committee rejected the entire revenue section of the 2027 budget on Oct. 9 by 31 votes to three, Decrypt reported. As a result, three cryptocurrency-related amendments that had previously cleared the committee — a tax on stablecoin conversions, a crypto exit tax, and a measure allowing investment losses to be carried forward for up to 10 years — will not be automatically included in the plenary review. France’s National Assembly is set to begin reviewing the budget from Oct. 13 based on the government’s original proposal. For the crypto-related amendments to be discussed again, they must be resubmitted in plenary. A vote on the revenue section is scheduled for Oct. 20, and the final legislative outcome of the tax measures remains undecided.

BTC is showing a price pattern similar to moves seen from late 2025 to early 2026, with $80,500 potentially serving as a key near-term support level, according to CryptoQuant contributor Darkfost. In a post on X, Darkfost said BTC has been fluctuating around its capital-weighted cost basis, the average purchase price calculated based on the amount of capital invested by holders. Darkfost said that price zone marks the threshold where the average profit and loss of market participants splits between gains and losses, which could materially influence investors’ trading decisions. Darkfost added that whether BTC holds $80,500 as support will be a key variable in assessing its next price move.

The tokenized commodities market, long centered on gold, is expanding into silver and oil, CoinDesk reported. According to CoinGecko, the sector’s market capitalization rose from $1.43 billion at the start of 2025 to $5.55 billion at the end of March 2026. About 90% of that increase came from gold-backed tokens issued by Paxos and Tether. Iggy Ippolito, chief investment officer at Theia, projected the tokenized commodities market could reach tens of billions of dollars within five years and exceed $100 billion within 10 years. Still, physical asset custody and transportation were cited as challenges to broader market growth.

Tron founder Justin Sun said on X Tron has deployed quantum-resistant cryptography on its testnet to respond to potential attacks from quantum computers. Sun said Tron is closely monitoring advances in quantum computing and artificial intelligence and is ready to introduce quantum-resistant technology to the mainnet at any time. Sun added Tron aims to become one of the major blockchains with quantum resistance in place before "Q-Day," the point at which quantum computers could render existing cryptographic systems ineffective. A timeline for deploying the technology on the mainnet was not disclosed.

Global fintech companies are increasingly using cryptocurrencies as core infrastructure for payments, settlement and financial services rather than simply as investment assets, crypto investment firm IOSG said in a report. Comparing the business strategies of major fintech companies including Visa, Mastercard, Stripe, PayPal and Robinhood, the report said stablecoins are emerging as a key tool linking traditional finance with blockchain-based finance. IOSG added that securing competitiveness in future financial markets will require a large user base, regulatory compliance capabilities and control over financial infrastructure. The report also projected that DeFi is more likely to be used as infrastructure supporting existing financial products than as a service used directly by mainstream consumers.

Large-scale investors accumulated around 15,000 BTC and more than 166,000 ETH over the past 72 hours as prices fell, crypto analyst Ali Martinez said on X. Over the same period, the investors also bought about 45 million XRP.

Crypto trading fee revenue in Hong Kong’s securities industry fell 13.5% to HK$99.3 million ($12.8 million) in the first half of 2026 from HK$114.8 million in the second half of last year, according to a financial report on the securities industry released by Hong Kong’s Securities and Futures Commission, or SFC.

A media outlet reported, citing Bitcoin Treasuries data analysis, that Bitcoin treasury company Strive is estimated to have raised about $55 million this week through a preferred stock issuance of SATA. That would be enough to buy around 638 BTC. The estimate was based on SATA trading volume and past disclosures, while the actual issuance size and whether the company bought BTC have not been confirmed.

Orbio, an AI project in the Robinhood ecosystem, has raised $1.2 million in seed funding. The participating investors were not disclosed. Orbio plans to use the funding to build a system that allows AI agents to independently secure computing resources, hardware and dedicated infrastructure. The project is also developing a marketplace where access to more than 400 AI models can be traded at discounted prices. The ORBIO token was issued through a liquidity pool based on tokenized Nvidia shares. According to GMGN, ORBIO has a market capitalization of around $53.42 million and is up 26% over the past 24 hours. Low trading volume has made the token highly volatile.

China’s Communist Party Central Committee and State Council have formally unveiled an advanced-industry development policy that includes building a national blockchain network, Xinhua reported. In a joint opinion issued on Oct. 9, Chinese authorities said they would build a nationwide integrated computing network and a national blockchain network to promote the integration of the real economy and the digital economy. The policy centers on developing “new quality productive forces,” a national strategy aimed at raising productivity and creating new growth drivers through advanced technologies including AI, blockchain and robotics. Chinese authorities also said they plan to improve systems covering data ownership, trading and revenue distribution, while expanding support for future industries such as AI, quantum technology and 6G. The document did not present a detailed timeline for the blockchain network or any plan to ease cryptocurrency trading regulations.

The U.S. Department of Justice is investigating whether Binance may have violated Iran-related sanctions, a media outlet reported. The DOJ is reviewing whether Binance processed fund transfers tied to Iranian oil transactions under sanctions and whether it complied with the terms of its $4.3 billion settlement with the U.S. government in 2023. Binance previously agreed in 2023 to pay $4.3 billion after admitting to anti-money laundering, or AML, violations and other compliance failures, and it pledged to strengthen its internal compliance systems. More recently, U.S. prosecutors moved to seize $61 million tied to illegal Iranian oil sales, while allegations also surfaced that about $850 million from Iran-linked accounts was traded through Binance. The DOJ has only confirmed that the investigation is underway and has not concluded Binance violated the earlier settlement terms.

A wallet that had been dormant for four years lost all 59 ETH, worth about $146,800, on Oct. 9 after transferring the funds to a Ledger hardware wallet about a month earlier, according to Lookonchain. It has not been confirmed whether the theft was linked to a recent series of asset thefts involving Ledger users.

Spot CVD is an order-book analysis chart for the BTC/USDT spot trading pair. The upper panel shows the Volume Heatmap, while the lower panel shows cumulative volume delta, or CVD. - The volume heatmap in the upper panel tracks trading volume at each price level. The background color becomes brighter when the price stays in a specific range for an extended period or moves sharply. Brighter zones may act as support or resistance. - The cumulative volume delta indicator in the lower panel reflects buy and sell orders by capital size. As buy orders increase, the line for the corresponding color rises. The yellow line represents orders between $100 and $1,000, while the brown line is based on large orders between $1 million and $10 million.

Yishi, founder of hardware wallet maker OneKey, said a recent theft targeting Ledger users may have involved a supply chain attack in which malicious components were inserted into devices. In a post on X, Yishi said one likely cause was the interception of unencrypted data while a recovery phrase was being displayed on screen. Yishi stressed, however, that any link between that attack method and the latest incident has not been confirmed. Yishi added OneKey plans to soon introduce a backup feature that does not display recovery phrases on screen and instead uses encrypted communication to counter similar attacks. The company is also pursuing encryption for internal device communications, stronger tamper-evident packaging, and tighter oversight of vendors. Ledger previously said it was investigating a theft case tied to devices sold through Southeast Asian retailer CryptoBilis. On-chain analysts estimate the losses at around $90 million.