Moonwell: Recovery Plan Submitted to Governance Forum and Partial Compensation Initiated

JPMorgan has raised its price target for Goldman Sachs (GS.N) from $955 to $970, and for Morgan Stanley (MS.N) from $195 to $198.

According to Lookonchain’s monitoring, a trader opened a 40x leveraged long position on BTC and a 25x leveraged long position on ETH, with total holdings valued at $186.7 million. The trader holds 1,822 BTC worth $149.5 million, with a liquidation price of $80,637.87; their 15,270 ETH holdings are valued at $37.25 million, with a liquidation price of $2,406.08.

A gambler is going long on $BTC and $ETH with maximum leverage, holding a total position of $186.7M! Positions: 1,822 $BTC ($149.5M) Liq. price: $80,637.87 15,270 $ETH ($37.25M) Liq. price: $2,406.08

According to a disclosure from the Osmosis Community Hall, the liquid staking token bOSMO issued by Backbone Labs has a redemption contract vulnerability. Since April 2026, the contract has been double-counting OSMO staked by Backbone’s own validators during each redemption, leaving users receiving roughly 50% more OSMO than they are entitled to, with the excess costs covered by other bOSMO holders. To avoid further harm to other holders during community fund pool redemptions, relevant parties redeemed around 776,000 bOSMO in a single transaction on October 10, extracting approximately 1.2997 million OSMO. The OSMO involved in this redemption is expected to complete unbonding on October 24. Osmosis announced it will compensate 1,037 accounts holding bOSMO at the snapshot, totaling about 40,508 OSMO, calculated at a pre-redemption rate of 1.1174 OSMO per bOSMO. The compensation will be automatically distributed after unbonding finishes on October 24, with no action needed from users. However, bOSMO’s asset backing has dropped sharply post-redemption: currently, redeeming 1 bOSMO via Backbone only yields around 0.06 OSMO. As the vulnerability remains unpatched, new bOSMO can still be minted at a cost of roughly 0.039 OSMO, which may cause some liquidity pools to have prices significantly deviating from actual redemption value. Osmosis therefore advises users not to purchase bOSMO or provide liquidity to related pools, and urges existing liquidity providers to withdraw their funds.

Korea Exchange has activated the sidecar mechanism for South Korea's KOSDAQ index.

Fed Chair Kevin Warsh said Friday he will not pre-judge interest rate decisions, and did not disclose whether the U.S. Federal Reserve will continue raising rates at its monetary policy meeting scheduled for October 27-28, or hold short-term interest rates steady as markets expect. Speaking at the 2026 IMF and World Bank Annual Meetings in Bangkok, Warsh noted that when the Fed raised rates in September, "we made it very clear that we will achieve price stability and have withdrawn a certain degree of monetary policy easing." He emphasized: "I will not pre-judge the decision of any meeting. I believe that now is not the time to disclose in advance what actions I may take at the remaining meetings this year."