Xie Jiayin: Peer Program Plans to Cumulatively Cover Over 2.2 Million People, Distribute $3.49 Million in Rewards

According to Bloomberg, Uber has joined a blockchain-based corporate treasury investment pilot that uses HSBC’s tokenized deposits to buy Franklin Templeton’s tokenized money market fund on Thursday and sell it on Sunday. Unlike traditional banks and markets, which typically exit investments on Friday ahead of weekend closures, this transaction generated roughly 1.5 extra days of returns. The pilot is a joint initiative by HSBC, Franklin Templeton, Tradeweb, and Fireblocks, with liquidity and settlement provided by the Canton Network. Michael Shaulov, CEO of Fireblocks, stated that large amounts of idle cash sit in gaps between corporate payments, and this model can boost interest income while keeping funds accessible. He forecasts hundreds of companies will adopt this framework in the next 18 months. Manish Kohli, HSBC’s Head of Global Payments, added that the pilot has confirmed the technology is ready for deployment and rollout to other U.S. clients, with future plans to explore adding investment options beyond Franklin Templeton.

The U.S. Secret Service said investigators are collaborating with private sector partners including Circle to identify, freeze, track, and recover stolen funds from Binance.

Renowned trader Bonk Guy stated that while BTC has pulled back from $79,000 to $77,000 and many altcoins have also fallen, they have shown relatively better resilience than BTC. He added that Binance appears to have repurchased most of the stolen funds: of the roughly $6.3 billion in stolen assets, around $3 billion has been frozen. He anticipates the frozen assets will be returned, and a significant portion of the remaining stolen assets may also be recovered over time. For the market outlook, Unipcs believes BTC could still dip briefly to form a local low, but he is optimistic about the market in the coming weeks to months. He judges that most of the altcoin correction is already complete, and thinks going long on altcoins at current levels, alongside buying in batches during potential future pullbacks, carries a higher success rate.

Flash news from Dongcha Beating AI: Z Finance’s exclusive report states that Zhou Chang, a core leader of ByteDance’s Seed division, has left to launch a startup focused on Physical AI, and has secured backing from top-tier US dollar funds. On October 26, multiple media outlets including The Paper and Jiemian News received responses from sources close to ByteDance that Zhou Chang had not left the company. Zhou Chang previously served as technical lead of Alibaba’s Tongyi large model, joined ByteDance in 2024, initially in charge of multimodal interaction and world models. In 2025, after Yang Jianchao went on leave and Feng Jiashi departed, visual generation businesses such as Seedream and Seedance were gradually placed under his management. In June this year, the Seed Robotics team, previously led by Li Hang, also began reporting to Zhou Chang; ByteDance was at the time recruiting an embodied intelligence lead to report directly to him. However, Z Finance notes that Zhou Chang’s management scope began contracting in the second half of this year, with more work transferred to Zeng Yan. Zeng Yan is the core R&D lead of Seedance 2.0, who joined ByteDance via campus recruitment in 2021. She persisted in efforts to train a video model with at least 200 billion parameters, and secured internal computing resources with support from Wu Yonghui and Zhou Chang. Physical AI aims to advance AI beyond understanding and generating digital content to perceiving, predicting, and acting on the physical world. The world models, multimodal, and robotics businesses Zhou Chang previously oversaw are all relevant to this. However, it has not yet been disclosed whether the new startup will focus on foundational models, simulation platforms, or robotics hardware.

According to HTX market data, Bitcoin rebounded to break through $78,000, with a 4.2% decline in the past 24 hours.

Breaking news from Dongcha Beating AI: On October 28, renowned open-source developer Huang Fengda (Phodal) announced his departure from Alibaba’s Qoder team. In his farewell post, he remarked, “It’s extremely challenging to build a good product at Alibaba. Technology is only part of the equation; most challenges lie beyond tech.” Huang, who spent over a decade at ThoughtWorks as its China open-source lead and developed open-source projects like AutoDev and ArchGuard, joined Qoder around May this year. There, he focused on Canvas-based Agentic UI architecture design and Agent plugin ecosystem building, enabling AI to not just generate code but also leverage engineering capabilities such as architecture analysis and design reviews. His departure comes amid Qoder’s ongoing product line adjustments: In August, Chen Xin (Shenxiu), product and tech lead of the Tongyi Code project, also left. In September, Qoder disclosed its annual recurring revenue (ARR) hit $100 million, but Alibaba Cloud announced it would phase out QoderWork, directing development and office users to Qoder Desktop Edition and Qianwen Office respectively. Users migrating to Qianwen Office need to re-register, with their original point-based benefits not directly transferable.