According to the latest episode of the Gatecast podcast, Gate founder and CEO Dr. Han shared the product philosophy and future plans for Gate Money. He stated that Gate is extending its years of accumulated experience into the fields of asset management and everyday payments to reach a broader user base, with the goal of doubling Gate Money's user base within the next one to two years. Leveraging the technical systems, institutional clients, and market-making liquidity built up through years of trading operations, Gate supports exchanges between multiple asset classes; through its global licensing footprint and partnerships with banks and payment networks, Gate Money creates the conditions for users to receive, send, and spend funds. Together, these capabilities form the operational foundation of Gate Money, enabling the platform to reduce exchange and fund transfer costs across different usage scenarios.

Through capabilities spanning holding, exchanging, growing, and spending, Gate Money connects various types of assets with everyday needs. Dr. Han used "buying coffee with stocks" as an example to illustrate the consumer applications of assets beyond investment. In eligible regions, users can open bank accounts in their own name, use familiar payment and receipt methods, and have transfers processed by underlying blockchain technology; idle funds can also participate in growth through yield products.

Looking ahead, Dr. Han also shared the application prospects of AI Agents providing round-the-clock assistance with asset allocation and fund management. As investment, wealth management, and everyday payments converge, Gate Money will continue to expand the application boundaries of various asset classes, driving Gate's services deeper into more everyday life scenarios.

According to MSX.COM data, SpaceX (SPCX.O) is up 2% pre-market. Reports indicate the company is seeking access to 80,000 cellular communication base stations in the United States to build a wireless communications network.

Odaily reports: According to US financial media outlet Semafor, Musk proposed this week a merger between Tesla (TSLA.O) and SpaceX (SPCX.O), and a former Justice Department official said the risk of triggering antitrust issues is real. The official noted that antitrust regulators generally view such "vertical" mergers as pro-competitive because they help improve supply chain efficiency; however, if the Tesla-SpaceX deal is deemed a potentially "vertical foreclosure" merger, regulators may seek to block it. The official explained that a "foreclosure" scenario refers to a company using its position to restrict competitors at other levels of its supply chain. In this case, if in the future only Tesla vehicles can use technologies such as SpaceX's Starlink, other autonomous driving or electric vehicle manufacturers could be harmed as a result.

Of course, this depends on the terms of the transaction, which currently remains hypothetical. It also depends on how willing US antitrust enforcement agencies, which are aligned with Trump, are to clash with Musk—a major Republican donor. Even so, if Democrats retake control of the House next month, Musk will face congressional scrutiny—and lawmakers will also closely examine any attempt by him to merge his companies. (Jinshi)

Odaily News: Hong Kong Exchanges and Clearing Limited announced today (Friday) the launch of the HKEX Artificial Intelligence Index and the HKEX Semiconductor Index, and has authorized China Southern Fund to launch an ETF in mainland China that tracks the HKEX Artificial Intelligence Index. The HKEX Semiconductor Index tracks the performance of the 30 largest semiconductor-related companies listed in Hong Kong. The two newly launched indexes further expand HKEX's self-compiled index series and provide investors with benchmarks to capture the opportunities brought by the two major technology themes of artificial intelligence and semiconductors.

Odaily reports that according to Gate data, Germany's DAX 40 (GER40) fell to 25,200 points, currently at 25,196.85 points, with a 24-hour decline of 0.6%.

Odaily Report: According to the latest weekly report jointly released by RWA Foundation and Token Terminal, between October 12 and 19, USDD's market cap increased by $180.3 million, accounting for approximately 40% of the $449.1 million total increase among the top ten stablecoin issuers in the same category during the same period, ranking first. During the same period, Sky ranked second with an $86 million increase, and United Stables ranked fifth with a $22.8 million increase.

The report data shows that USDD's weekly market cap growth significantly outpaced other major stablecoin projects in the same category, reflecting the rapid expansion of its recent circulating supply. All data in the report comes from Token Terminal, providing the latest observations on recent capital inflows and issuance scale changes in the stablecoin market.

Odaily reports that Bybit has announced the sixth season of its USD1 Hold & Earn campaign. Users simply need to hold USD1 in their accounts to receive daily WLFI token rewards, with an annualized yield of up to 10%, with no staking or locking required.

Campaign Details

Period: October 17 to November 15, 2026 (UTC)

Prize Pool: 27 million WLFI

Eligibility: Complete Lv.1 identity verification and hold at least 1 USD1

Mechanism: Hourly balance snapshots; rewards distributed to the funding wallet at 06:00 UTC the following day

Token Background

USD1 is a U.S. dollar stablecoin issued by World Liberty Financial, fully collateralized by short-term U.S. Treasury bills and cash equivalents, and pegged 1:1 to the U.S. dollar. WLFI is the protocol's governance token, and holders can participate in protocol governance decisions.

Odaily reports: According to DefiLlama data, as of October 20, 2026, Gate's 24-hour spot trading volume reached $1.6 billion, ranking second among global centralized trading platforms. In terms of asset scale, the total value of Gate's on-chain assets tracked by DefiLlama is approximately $7.49 billion, of which the asset scale excluding the platform token is approximately $6.19 billion, ranking sixth. This reflects the platform's comprehensive strength in spot trading activity and asset scale.

In terms of reserves, Gate's latest proof of reserves shows that as of October 18, the platform's total reserve scale reached $8.688 billion, with a total reserve ratio of 118.49%, covering 500 currencies. In addition, the report noted that GT has risen about 70% since August and has remained at a high level after Gate founder and CEO Dr. Han delivered the keynote speech "One Gate, Everything Money," reflecting users' confidence in the platform ecosystem and development direction. Active spot trading and ample asset reserves also provide strong support for Gate to extend its services to investment, payments, and daily capital management.

Odaily: Hong Kong stocks fluctuated and probed lower, then continued to recover in the afternoon, with the Hang Seng Index closing up 0.69% at 23,093.37 points. The Hang Seng Tech Index closed up 2.05% at 3,871.66 points. As of today's close, the Hang Seng market's total turnover was HK$249.784 billion.

On the board, the physical AI sector led gains, auto stocks and humanoid robot concepts strengthened, storage concepts and the lithium battery sector rebounded; bank stocks bucked the trend and declined. In terms of individual stocks, 51WORLD (06651.HK) rose over 30%, MINIMAX-W (00100.HK) rose 16.7%, GigaDevice (03986.HK) and Zhipu (02513.HK) rose over 8%, BYD Company (01211.HK) rose over 6%, CATL (03750.HK), East Buy (01797.HK), and XPeng Group (09868.HK) rose over 5%; Everest Medicines (01952.HK) fell 9.8%, BrainAurora-B (06681.HK) fell 8.85%, and Lenovo Group (00992.HK) fell over 2%. (Jinshi)

Odaily: Sources say the Bank of Japan is expected to continue raising interest rates rapidly, with December in focus. The BOJ said the current policy rate remains far from the neutral rate. The BOJ believes inflation needs to stabilize around its target. (Jinshi)

Odaily: The China Securities Regulatory Commission (CSRC) has approved the establishment of Citigroup Securities (China) Co., Ltd. (hereinafter referred to as "Citi China"). Citi China is registered in Shanghai with a registered capital of RMB 1.2 billion, and its business scope covers securities brokerage, securities investment consulting, securities underwriting and sponsorship, and proprietary securities trading. The shareholder name, capital contribution amount, and contribution ratio are as follows: Citigroup Global Markets Holdings Limited contributes 100%. (CSRC)

Odaily reports: According to official sources, OKX Flash Earn Lite will launch CT (Concrete) "Staking to Earn" from 15:00 on October 28, 2026 to 15:00 on November 3, 2026 (UTC+8). During the event, users can participate by locking BTC, ETH, OKB, or CT to subscribe and share in a 1,000,000 CT airdrop reward. Users can subscribe in advance starting at 15:00 on October 24 (UTC+8), and rewards will begin accruing after the event officially starts. Users can participate through the "Flash Earn" entry at the top of the Explore page in the OKX App.

According to MSX.COM data, US telecom carriers' pre-market shares fell following reports that SpaceX is seeking access to 80,000 cellular sites across the US to build a wireless network. AT&T fell 2.1%, Verizon dropped 2.5%, and T-Mobile declined 3.5%.

Odaily: UK-listed company The Smarter Web Company, trading under the ticker SWC at a share price of $0.0219, has additionally purchased 20 BTC, bringing its total holdings to 2,850 BTC and ranking 30th among companies by Bitcoin holdings. (Bitcoin Treasuries)

Odaily reports: UBS's latest research note maintains its "attractive" view on A-shares, arguing that the recent market weakness has improved the risk-reward profile without materially changing its positive assessment of the earnings outlook. Although rising US bond yields and renewed geopolitical concerns have weighed on some tech and materials stocks, the impact on fundamentals has so far been limited. Earnings forecasts for the CSI 300 Information Technology sector for 2027 continue to be revised upward, strengthening UBS's confidence ahead of the third-quarter earnings season. On allocation, UBS favors select leading tech and advanced manufacturing companies, innovative healthcare companies, and globally competitive exporters, while also favoring quality dividend-paying companies, especially China's large banks.