Odaily Report: DeepSeek has officially launched a new version of its large model, V4.1 Flash-1017. At a time when domestic AI large models are generally in a critical iteration phase, this version has taken the lead in completing its upgrade, achieving a significant leap in overall performance. While public data on its technical metrics had been previously available, this time DeepSeek has for the first time independently published a Pareto frontier curve, visually presenting the model's comprehensive performance across efficiency and cost dimensions. V4.1 Flash-1017 reaches industry-leading levels on this curve: its comprehensive cost per unit task is only one-hundredth to one-twentieth that of comparable models such as Fable and Astra, delivering a cost-effectiveness advantage of more than forty to fifty times. Although the newly released 1017 version maintains the existing API pricing structure, it has completed a deep restructuring of Token usage efficiency—through task-aware compression, dynamic context trimming, and adaptive decoding strategies, significantly reducing the actual Token consumption of various types of requests. Empirical testing shows that in most scenarios, Token usage has dropped by over 50% compared with the previous version, and the corresponding TCO level will likewise see a new round of substantial reduction in tandem. (Sina Finance)

1. US stock AI concept perpetual contracts collectively crashed in the early morning, with Western Digital falling over 7% at one point, while Micron and SK Hynix dropped over 6%;

2. The South Korean government plans to convene the five major crypto exchanges on October 20 to hear opinions on the 22% crypto tax to be imposed in 2027;

3. The French National Assembly passed a tax amendment on crypto-to-stablecoin conversions by a one-vote margin, planned for implementation in 2027;

4. Papertrade perpetual contracts may soon launch, with Paragon winning the PAPER ticker for approximately $45,000;

5. South Korea's five major crypto exchanges plan to push for a fourth delay of the 22% crypto tax, with the ruling party proposing an extension to 2029;

6. Ledger CEO fires back at former Mt. Gox CEO: You are no white knight, stop making reckless speculations;

7. South Korean Finance Minister: The semiconductor market boom will last at least until next year;

8. pump.fun has launched perpetual contract trading services based on Hyperliquid, charging a Builder Fee of up to 0.1% per order;

9. Last week's "manual" opportunity? Variational is suspected to activate its trading API next Friday;

10. Goldman Sachs, Wells Fargo, and Morgan Stanley view tokenization as a growth opportunity, but none provided revenue expectations.

Odaily reports that South Korea's five major cryptocurrency exchanges plan to hold a meeting with the government on October 20 to push for a fourth delay of the 22% cryptocurrency tax originally scheduled to take effect in January 2027.

South Korea's cryptocurrency taxation policy has already been postponed three times, and the related bill currently proposed by the ruling party aims to further delay implementation to 2029. The upcoming meeting will gather industry opinions on cryptocurrency taxation arrangements, and whether another delay will be granted remains undetermined. (Cointelegraph)

Odaily reports, according to Onchain Lens monitoring, a Hyperliquid trader had two short positions liquidated, losing $47,900. Among them, the BTC short position was worth $4.29 million, with a loss of $46,070; the ZEC short position was worth $61,880, with a loss of $1,800. Hours earlier, the trader had deposited $200,000 USDC in an attempt to save the positions. Currently, the trader still holds $17.36 million in open short positions, with an unrealized loss of $149,900.

Odaily reports: According to Arkham monitoring, whale 0xf82 withdrew 1 million PancakeSwap (CAKE) tokens from Bybit, worth $2.16 million. In addition, the whale also withdrew 800 BNB, worth approximately $576,000.

The PancakeSwap core team previously proposed a governance proposal called "The Flip," which plans to increase the proportion of trading fees from v3 and Infinity liquidity pools distributed to liquidity providers (LPs) to 88%, covering all 11 supported blockchains, while reducing CAKE's daily effective emissions from 22,500 to 7,000, a decrease of approximately 69%.

Odaily reports that HIP-3 market deployer Paragon spent 570.98 HYPE (approximately $45,000) to win the PAPER ticker at auction, and may soon launch Papertrade (PAPER) perpetual contracts. Papertrade is an on-chain synthetic perpetual contract trading platform deployed on HyperEVM, offering leverage of up to 1000x. Its token PAPER is minted through users' realized trading losses, with no pre-mine, team, or VC allocations.

Odaily: London Stock Exchange-listed blockchain infrastructure company KR1 plc has launched its own Ethereum validators, operated by P2P.org within Lido V3's stVaults. KR1 recently plans to stake up to 6,000 ETH, with the first batch of 10 validators going live, and the specific rollout pace depends on the Ethereum validator entry queue. KR1 retains control over deposits and withdrawals, validator fee arrangements, and vault role permissions, and has the option to mint stETH for liquidity. Lido stated that stVaults resolve the trade-off between native staking and liquid staking, allowing stakers to both select validators and retain ownership while maintaining liquidity through stETH. Lido disclosed that the stVaults smart contracts have been audited by firms including Certora, MixBytes, Consensys Diligence, Ackee Blockchain, and Sigma Prime, and offer a bug bounty of up to $2 million.

According to monitoring by on-chain analyst Ai Yi, an address lost $9.05 million on long positions over the course of a week but continued to add to its position. At the end of September this year, the address's Hyperliquid account was once up $19.7 million in profit, after which the account's returns declined. Its most recent BTC 40x long position was opened in the early hours of October 16, with the position at one point increased to $187 million; 5 hours ago, its ETH long position worth $11.74 million was fully liquidated, with a loss of $1.08 million. As of now, the address's ETH and BTC trades have realized a combined loss of $4.5 million. It currently has a remaining $110 million BTC long position totaling 1,355.6 BTC, with an unrealized loss of $287,000, and plans to stop out of the entire position if the price falls below $80,500.

Odaily reports: According to CoinGlass data, between 05:22 and 05:32 Beijing time today, the prices of perpetual contracts related to several US AI concept stocks experienced a brief sharp decline, resulting in total liquidations of approximately $51.596 million across AI stock and semiconductor ETF perpetual contracts. Of this, long position liquidations amounted to approximately $38.0622 million, while short position liquidations totaled approximately $13.5338 million, with longs accounting for about 73.77%.

Breaking it down: the triple-leveraged long semiconductor ETF (SOXL) saw approximately $12.7301 million in liquidations, SanDisk (SNDK) approximately $10.845 million, SK Hynix (SKHY and SKHYNIX combined) approximately $10.7152 million, the triple-leveraged inverse semiconductor ETF (SOXS) approximately $9.0721 million, and Micron (MU) approximately $4.4044 million.

Odaily reports: France's National Assembly passed a 2027 budget amendment with 38 votes in favor, 37 against, and 25 abstentions, proposing to eliminate the tax deferral treatment for converting cryptocurrencies into single-currency stablecoins starting January 1, 2027, and to bring such transactions within the scope of capital gains taxation.

Under the amendment, when investors convert crypto assets into stablecoins pegged to fiat currencies such as the euro or U.S. dollar, they may be required to pay capital gains tax at the current flat rate of approximately 31.4%, even if the assets are not converted into legal tender.

The amendment was proposed by French lawmaker Nicolas Sansu and others, and France's Minister of Public Accounts had previously called for its withdrawal on the grounds of implementation complexity. The amendment has currently only passed the first reading in the National Assembly and has not yet formally become law; it still needs to go through Senate review and subsequent legislative procedures. (The Defiant)

Odaily reports, according to Hyperbot data, Machi Big Brother made a swift comeback four hours ago after suffering a total liquidation, re-opening a 25x leveraged Ethereum long position. The position currently holds 1,325 ETH, valued at approximately $3.2 million, with an unrealized profit of about $30,000. The current liquidation price is $2,368.

Odaily Report: According to on-chain analyst Ai Yi's monitoring, the top three ETH positions on Hyperliquid are currently showing an unrealized loss of $9.493 million, with one address becoming the address with the largest unrealized loss on ETH. This address has held a 13x long ETH position since September 21, during which it reduced its position by 8,250 ETH, realizing an actual loss of $2.277 million. It currently still holds 40,268.75 ETH, worth approximately $97 million, with an average entry price of $2,646.05, a liquidation price of $2,290.99, and a remaining liquidation buffer of $116.51.

Odaily Report: According to Lookonchain monitoring, trader "Brother Machi" (@machibigbrother) suffered a full liquidation again approximately 4 hours ago, with nearly all of the 250,000 USDC deposited two days prior now lost.

Lookonchain noted that Machi's unrealized gains on the Hyperliquid platform once reached as high as $44.84 million a year ago. Now, not only has he given back all of those profits, but he has also incurred an additional loss of approximately $36.85 million, with cumulative P&L having drawn down about $81.69 million from its previous peak.

Odaily reports: The South Korean government plans to convene representatives from the five major virtual asset exchanges—Upbit, Bithumb, Coinone, DigitalX, and Gopax—along with executives from the Digital Asset Exchange Alliance (DAXA) on October 20 to hold a forum on the virtual asset taxation policy originally scheduled to take effect in January 2027, in order to gather industry feedback.

Under the current plan, South Korea will levy a 22% tax rate on income from virtual asset transfers and lending after deducting a basic exemption of 2.5 million Korean won. The tax policy has been postponed three times since it was proposed in 2020, and the government is currently still advancing preparatory work according to the original timetable. The National Tax Service of South Korea is expected to issue relevant announcements in November.

In addition, South Korean financial regulators are accelerating the government draft of the "Digital Asset Basic Act," which is expected to be completed by the end of this month, with the relevant consultation process to be launched. (Yonhap)

Odaily Report: Former Mt. Gox CEO Mark Karpelès posted on X platform, criticizing that if Ledger had disclosed the relevant issues in a more timely and effective manner, rather than only publishing an inconspicuous article on Ledger Academy, losses exceeding $90 million might have been avoided. He also questioned why Ledger had not maintained sufficient vigilance regarding mass-produced advanced implant devices.

In response, Ledger CEO Pascal Gauthier questioned Mark Karpelès's stance, stating that Ledger has always done its utmost to protect users. He said that related security work is extremely challenging and acknowledged Karpelès's concern about the matter, but demanded that he speak based on known facts and avoid speculation. He also remarked sarcastically: "Come on, you're no white knight, be realistic."