Today's news tips:
AWS outage impact mitigated, Coinbase services partially restored
AliQuark secretly develops "Plan C": a conversational AI application, possibly targeting ByteDance
Hex founder Richard Heart transferred 81,000 ETH in the past 5 hours
Macro
AWS outage impact mitigated, Coinbase services partially restored
According to the latest update from Coinbase Support, some users are now able to access and use Coinbase services, and the platform is showing initial signs of recovery. Officials stated that the team is still prioritizing this issue and will continue to provide updates. Earlier news broke that an AWS outage caused downtime for several popular apps and websites worldwide, including Coinbase and PlayStation.
AliQuark secretly develops "Plan C": a conversational AI application, possibly targeting ByteDance
According to an exclusive report by Sina Technology, AliQuark is promoting an AI initiative codenamed "Plan C." This initiative is led by Quark's core team and includes participation from several senior members of Tongyi Lab. Multiple sources revealed that the initiative is related to its development of conversational AI applications and that its first new achievements will be released soon. According to sources, "Plan C" has been secretly underway within Quark for a long time, and the upcoming results are only interim results. "This is a product that requires long-term investment and relies on breakthroughs in model technology." There are several theories regarding the origin of the "Plan C" codename. One theory suggests that "C" stands for "Chat," suggesting Quark may be introducing a new conversational format. Another, more controversial, internal theory suggests that the codename "C" is a reference to the classic game "Pac-Man," with the self-evident implication that "the target is Pac-Man." Quark has not yet responded to these reports.
According to Down Detector, several popular apps and websites, including Snapchat, Roblox, Fortnite, Duolingo, and Canva, began experiencing issues around 4:00 PM Beijing time on October 20th. The outage was attributed to Amazon Web Services (AWS), which experienced issues at its facilities in Northern Virginia, leading to "increased error rates" and delays in several services, including Amazon DynamoDB and Amazon Elastic Compute Cloud. The outage affected a wide range of platforms, including Coinbase, Prime Video, and PlayStation. AWS is one of the world's largest cloud service providers, with revenue of $108 billion last year, accounting for the majority of Amazon's profits.
According to CryptoSlate, the Mt. Gox trustee must complete a three-stage process of repaying Bitcoin creditors: basic repayment, early lump-sum repayment, and interim repayments by October 31st. Currently, approximately 34,689 BTC remain in associated wallets. Bitcoin and Bitcoin Cash were distributed via Bitstamp, Kraken, or in cash, with some held in custody by BitGo. Historical data shows that approximately 64.1% of the funds were deposited into exchanges. If applied to the remaining balance, a worst-case scenario would see approximately 22,253 BTC simultaneously deposited, potentially creating approximately $2.4 billion in selling pressure. Kraken and Bitstamp have processing windows of up to 90 and 60 days, respectively. Actual deposits will be staggered and may also bypass order books through custody or over-the-counter (OTC) channels.
According to The Verge, Elon Musk's X platform will launch an "X Handle Marketplace" for Premium Plus and Premium Business users, allowing them to browse and request unused usernames. Usernames are divided into two categories: Priority (free, including names, phrases, or alphanumeric combinations) and Rare (paid, ranging from approximately $2,500 to over seven figures, depending on demand and uniqueness). After successfully changing your username, the old username will be frozen; if you downgrade your subscription, your account will automatically revert to the original username. Officials have stated that a paid redirection feature may be available in the future.
Viewpoint
Binance co-founder He Yi issued a statement clarifying that the Binance Ukraine account was not hacked, and that the account that posted the MEME coin content was a fake. Some influencers, attempting to replicate the previous theft narrative, attacked Binance customer service channels without verification, creating heated debate. He Yi noted that several recent "rights protection" cases have been verified as false content or claims for legitimate trading losses, and urged users to be vigilant and not fall for rumors or scams.
Changpeng Zhao: “Binance Life” has become the first Chinese ticker on the Base App
Binance CEO Changpeng Zhao (CZ) commented on the Base App's support for BNB Chain network token swaps, and stated that "Binance Life" has become the first Chinese ticker on the Base App, originating from the BNB Chain ecosystem.
Binance founder CZ (Changpeng Zhao) issued a warning, warning that as meme coins gain popularity, hackers are targeting vulnerable social media accounts, using compromised accounts to publish fake contract addresses (CAs) to commit fraud. CZ emphasized that no official account would recommend or endorse specific meme projects, and urged users to be vigilant and avoid losing their assets by clicking on or interacting with unknown contracts.
Project News
BSC Meme「4」Changed the logo to a cartoon pattern
According to the observation of user ai_9684xtpa, BSC Meme "4" has changed its logo from the original CZ gesture image to the cartoon pattern "4".
Binance Alpha to Launch BLUAI and TURTLE Airdrops on October 21st and 22nd
Binance has officially announced that Binance Alpha will be the first platform to host the Bluwhale (BLUAI) and Turtle (TURTLE) airdrops. Eligible users can claim these airdrops using Binance Alpha Points on the Alpha event page, after trading opens on October 21st and October 22nd, respectively.
Binance Futures Launches "Binance Life" USDT Perpetual Contract
Binance Futures announced that it will launch the "Binance Life" USDT perpetual contract at 19:00 (Beijing Time) on October 20, 2025, supporting up to 50x leverage.
Upbit to List Bio Protocol (BIO) Trading Pairs in KRW, BTC, and USDT
South Korean cryptocurrency exchange Upbit announced that it will list Bio Protocol (BIO) trading pairs for the Korean won, BTC, and USDT.
HyperSwap announced the SWAP token's Genesis on HyperEVM and HyperCore on October 20th, with a maximum supply of 100 million. Token distribution is as follows: 25% for the community, 25% for investors, 25% for liquidity mining, 8% for core contributors, 10% for trading activity airdrops, 3% for advisors, 2.5% for limited partners, and 1.5% for HIP-2. The project will use 75% of product revenue to buy back SWAP, with estimated buy orders exceeding $5 million in the past six months. The Genesis community and early investors will each receive 25 million tokens, all unlocked immediately. The mining portion will vest linearly over 12-36 months. xSWAP redemptions will take up to six months, and 50% of unvested tokens will be burned for early withdrawals.
Vitalik Buterin's latest article details how the Goldreich–Kahan–Rothblum (GKR) protocol is used to accelerate ZK proofs. Adapting to a "batch × multi-layer" computational structure, it significantly reduces intermediate commitments, requiring only input and output commitments. Using the Poseidon2 hash as an example, the article details a recursive proof process centered around sumcheck and offers optimizations (Gruen's trick, linear batching, and only the first element of the cube in some rounds). This can be combined with BaseFold or FRI in polynomial commitment scenarios. The author claims that the actual overhead is approximately 100 times lower than the theoretical value of traditional STARKs, with single-digit overhead expected. He also cautions against the risk of in-circuit predictability in the Fiat–Shamir challenge.
Important data
According to Onchain Lens, wallets associated with Andrew Kang (@Rewkang) were rumored to have been partially liquidated due to high-leverage shorting of $BTC (40x), $ETH (25x), and $ENA (10x). However, Onchain Lens privately communicated with Andrew Kang and learned that he clarified that these wallets were not related to him.
According to Lookonchain monitoring, 30 newly created wallets have withdrawn 6,256,893 LINK (approximately $116.7 million) from Binance since the market crash on October 11.
Data: Nearly 500 million USDT transferred from Binance to unknown wallet
According to Whale Alert monitoring, 496,559,650 USDT (approximately US$497 million) was transferred from Binance to an unknown wallet.
According to on-chain data from ai_9684xtpa, Binance Life saw a near 50% surge in value in a short period of time, influenced by a tweet from Binance CEO CZ. The previously unrealized losses on 12.7 million Binance Life tokens held by a "big investor heavily invested in Chinese memes at the peak" have narrowed from $1.02 million to $0.33783 at the original price. A new address, 0xca8...52448, invested $223,000 in the market, buying at a cost of $0.23234, resulting in a current unrealized profit of $19,000. Earlier, Zhao Changpeng announced that Binance Life has become the first Chinese ticker on the Base app.
According to SoSoValue data, Ethereum spot ETFs experienced significant outflows from October 13th to 17th, with a weekly net outflow of $312 million. BlackRock's ETHA ETF saw the largest weekly outflow of $245 million, bringing its cumulative net inflow to $14.24 billion. Grayscale's ETHE ETF saw a net outflow of $101 million, bringing its cumulative net outflow to $4.68 billion. In contrast, Fidelity's FETH ETF saw a weekly net inflow of $94.29 million, continuing its position as the leading investor, with a cumulative net inflow of $2.79 billion. As of press time, the total net asset value of Ethereum spot ETFs was approximately $25.98 billion, representing 5.58% of Ethereum's total market capitalization, with a cumulative net inflow of $14.6 billion.
Bitcoin spot ETFs saw net outflows of $1.23 billion last week, the second highest on record
According to SoSoValue data, Bitcoin spot ETFs experienced massive outflows between October 13th and 17th, with a single-week net outflow of $1.23 billion, the second-highest on record. All 12 ETFs experienced net outflows. Grayscale's GBTC saw a net outflow of $298 million, bringing its cumulative net outflow to $24.5 billion. ARKB, a joint venture between Ark Invest and 21Shares, saw a net outflow of $290 million, but maintained its historical net inflow of $2.06 billion. As of now, the total net asset value of Bitcoin spot ETFs is approximately $143.93 billion, accounting for 6.75% of Bitcoin's total market capitalization, with a cumulative net inflow of $61.54 billion.
According to Artemis data, Hyperliquid has seen the largest net capital outflow over the past seven days, reaching $1.5 billion. Data indicates that of this outflow, $1.46 billion went to the Arbitrum network. During the same period, Arbitrum saw a total net inflow of $1.8 billion, the highest among all chains, with the majority of this inflow originating from Hyperliquid. This suggests that a significant amount of capital may have recently flowed out of Hyperliquid via the Arbitrum cross-chain bridge.
Hex founder Richard Heart transferred 81,000 ETH in the past 5 hours
According to Ember, addresses suspected to be associated with Richard Heart, founder of projects like Hex, PulseChain, and PulseX, have transferred 81,000 ETH (approximately $323 million) in the past five hours. This group of addresses previously purchased 132,000 ETH on-chain in March 2023 using 499 million DAI at an average price of approximately $3,770. With the exception of 9,500 ETH transferred via Tornado Cash over the past six months, the remaining ETH remains in their possession.
Institutional holdings
M2 Capital invests $21 million in Nasdaq-listed AVAX One
According to Crowdfund Insider, UAE-based M2 Capital announced a $21 million investment in AVAX One, a Nasdaq-listed digital asset vault. AVAX One, rebranded from AgriFORCE, aims to centrally hold Avalanche's native AVAX token and participate in potential on-chain activities such as staking and liquidity provision.
