An employee of a Shenzhen-based company, who disguised himself as an overseas hacker, was sentenced for extorting Bitcoin and USDT, with the virtual currency involved in the case valued at over 630,000 yuan.

According to Xinhua News Agency, at the regular press conference held by China’s Ministry of Commerce on the 10th, ministry spokesperson Huang Ling stated in response to relevant questions that the economic and trade teams of China and the US are earnestly implementing the consensus reached during the Beijing meeting between the two heads of state, and are currently negotiating the framework arrangement for reciprocal tariff reductions of 30 billion US dollars, striving to put it into practice as soon as possible.

Apple (AAPL.O) Unveils First Foldable iPhone Goldman Sachs notes that the device’s pricing strategy and product design both exceed expectations, with potential to unlock the mass market and deliver significant benefits to the supply chain. The investment bank maintains its shipment forecast for the foldable iPhone: 14 million units in the base case for 2026, and 35 million units in the optimistic scenario. The iPhone Duo features a 7.6-inch internal display when unfolded, the largest ever for an iPhone; when folded, it uses a 5.4-inch external screen with an area equivalent to 90% of the iPhone 18 Pro’s. Both screens support ProMotion, Always-On Display, and up to 3000 nits of outdoor brightness. The device adopts a dual-battery architecture, supporting up to 44 hours of video playback when using the external screen. The iPhone Duo is available in Star White and Night Sky color options, with storage variants of 256GB, 512GB, 1TB, and 2TB. It starts at $1999 in the U.S., with pre-orders opening on October 16 and official launch on October 23, rolling out first in over 70 countries and regions including China. Chinese domestic prices for the new iPhone series: iPhone 18 Pro starts at RMB 9999, iPhone 18 Pro Max at RMB 10999, and iPhone Duo at RMB 15999.

Beating AI News Flash: Hangzhou has launched the "Citywide Coding Plan" to subsidize Zhipu AI’s GLM Coding Plan, targeting Hangzhou-based workers, local college students, and enterprises in Shangcheng District. For individuals, quarterly cards receive a 44% total subsidy, while annual cards get a 51% subsidy—equivalent to a 4.9 discount on annual cards. For example, the Pro version’s annual card, originally priced at 6,456 yuan, costs 3,163.44 yuan after subsidy; the Lite version drops from 1,416 yuan to 693.84 yuan. Each person is eligible for only one subsidy, choosing either a quarterly or annual card, and subsidies will be available until the total fund is exhausted. Workers need to submit Hangzhou social security certificates, while students must provide Hangzhou college enrollment records. Enterprise subsidies are more generous, but only for Shangcheng District-based enterprises. Team version annual cards get a 55% total subsidy, with a maximum subsidy of 1 million yuan per enterprise in principle; enterprises that have already purchased team packages can also apply for subsidies for new seats. Unlike regular vendor promotions, the official explicitly states the funding comes from "government subsidies, enterprise concessions, and market participation". This move marks a shift as local governments start subsidizing AI coding tools as developer productivity infrastructure.

Zamanat announced it is sponsoring Zamanat Fund CEIC Limited, a tokenized private credit fund registered at the Dubai International Financial Centre (DIFC). The fund has a target size of up to $100 million, focusing on private credit in the Gulf Cooperation Council (GCC) region, with the goal of filling the estimated $250 billion small and medium-sized enterprise (SME) financing gap in the area. Regulated by the Dubai Financial Services Authority (DFSA), this closed-end exempt fund is positioned as a credit fund, managed by Truleum Venture Partners, with fund administration services handled by Apex Group. Fund units will be issued as ZM1 investment tokens on ZIGChain, and offered to eligible professional investors in a regulated, whitelisted environment. Zamanat noted that only around 11% of SMEs in the GCC have access to credit, and the fund will provide capital to fundamentally sound companies underserved by traditional financing channels. The firm added that this fund marks its first successful implementation of bringing GCC private credit into a regulated digital structure. Key clarifications: The fund is not an Islamic fund nor is it marketed as Sharia-compliant; "digital Islamic assets" are part of Zamanat’s broader business strategy. ZM1 tokens are only available to investors meeting DFSA professional client requirements and do not constitute a public securities offering.

Binance Alpha lists Nesa (NES).

According to official announcements, OKX has officially launched its "Smart Portfolio" strategy, enabling users to allocate crypto assets, tokenized stocks, gold, crude oil, ETF indices, stablecoins, and other assets into a single investment portfolio with customizable target weights. The system automatically rebalances based on the user-defined check cycle and deviation threshold, while users can also trigger an immediate rebalance at any time. The feature supports two modes: AI strategy recommendations and manual creation. Users can build personalized portfolios around various investment themes to achieve unified cross-asset allocation and ongoing management. To access it, navigate to "Trade" > "Strategies & Copy Trading" > "Smart Portfolio" in the OKX App, which requires upgrading to version 6.188.0 or later.