Former Acting Chair of the CFTC: No congressional legislation is needed, as the existing framework is sufficient to regulate the crypto market.

Beijing Chaoyang District Public Security Bureau has issued a police notice stating that it has recently filed a criminal investigation against relevant companies of Chinese fintech firm CreditEase on suspicion of illegal crimes. Multiple suspects including actual controllers Tang * (male, 53) and Zhao * (female, 51) have been lawfully taken criminal compulsory measures. The police noted that they are currently fully committed to investigating the case, urging investors to actively cooperate with investigation and evidence collection, while warning against fraudsters committing fraud under pretexts such as "early redemption". CreditEase is a Chinese fintech company founded by Tang Ning. It previously operated P2P products, with its subsidiary Yirendai listed on the New York Stock Exchange. Since May 22 this year, CreditEase has fully suspended redemption of its fixed-income-like products and launched a so-called "benign liquidation" involving about 30 billion yuan, affecting nearly 100,000 high-net-worth clients. Four months after the redemption suspension, CreditEase recently sent apology letters to clients, admitting that the group may be insolvent with a large debt repayment gap. CreditEase has extensive presence in wealth management and investment businesses. Public information shows that its subsidiaries' funds have directly participated in financing of crypto-related projects including Circle, Figure, Poko, and Cashmere Wallet, and it has invested as a limited partner (LP) in multiple traditional VC funds. CreditEase has an entity in Singapore: CreditEase Asset Management (Singapore) Pte. Ltd., which holds a license from the Monetary Authority of Singapore (MAS) and is mainly engaged in asset management business.

Insight Beating AI News: Indie developer FeiZ has open-sourced DeepSeek Bot (DS Bot), an unofficial plugin built on DeepSeek Harness (DSH). Once installed, users can create multiple specialized bots, each configured with its own model to execute tasks and collaborate with one another. Each bot features independent sessions and long-term memory, enabling it to recall user preferences. When conversations become lengthy, the plugin automatically compresses context and can search earlier chat records. Memories are stored locally as Markdown files, with team sharing support available. On first launch, the system includes a default "Chief" supervisor bot—users only need to indicate required roles, and it will create other bots and group chats as needed. Group chats default to admin responses, with other members called on demand to avoid all bots participating each time, thus reducing token consumption. Users can also directly @mention specific members. The plugin supports scheduled tasks and token usage tracking by bot and model. It can be installed by entering `ds-bot` in the plugin page of desktop clients, and is also accessible on web versions. The developer plans to add support for local Agent integration in the future. The project is open-sourced under the Apache 2.0 license and remains in the early stages of development.

According to official announcements, Upbit will list RSR trading pairs against the South Korean won (KRW) and USDT. Trading is scheduled to start at 14:05 local time in South Korea on October 12.

According to HTX market data, likely driven by Upbit’s upcoming listing of RSR/KRW and RSR/USDT trading pairs, RSR briefly surged to $0.0026, is now trading at $0.0025, with a 54.86% gain in 15 minutes.

Crypto analyst Willy Woo said in a post that the Puell Multiple indicator currently shows Bitcoin (BTC) remains in the early stages of a bull market from a long-term structural perspective, while the market is in a sideways consolidation phase from a near-term structural standpoint. The Puell Multiple is used to roughly gauge the selling pressure exerted by Bitcoin miners.

U.S. bank Wells Fargo is in discussions with Payward, the parent company of crypto exchange Kraken, for a potential collaboration under which Payward would provide liquidity support for the bank’s digital asset trading business. The partnership would see Payward offer market depth and trade execution support, helping Wells Fargo expand crypto asset trading access for its clients without building out a full trading infrastructure from scratch. The two sides are still in negotiations, no final agreement has been reached, and both parties declined to comment. Wells Fargo has previously offered Bitcoin spot ETFs to eligible wealth management clients, invested in compliance tech firm Elliptic and trading platform provider Talos, advanced a blockchain-based deposit initiative, and joined a U.S. dollar stablecoin-related consortium. In September 2026, Nasdaq announced a $100 million investment in Payward, valuing the firm at roughly $21 billion, with Wells Fargo serving as the exclusive capital markets advisor for the deal. Separately, Payward is reportedly in talks with asset custody and services giant BNY for a broader infrastructure partnership, covering areas including digital asset products, custody, wealth management, trading, and payments. Those discussions have also not yet resulted in a final agreement. Payward is steadily expanding its footprint in traditional finance. The firm is also reportedly pursuing a European banking license, with Lithuania as its target jurisdiction. In March 2026, Kraken Financial became the first digital asset bank to secure access to Federal Reserve payment infrastructure; Payward has also obtained authorization from the Dubai Virtual Assets Regulatory Authority.