Trader Turns $848 Into $282K in 2 Hours With $Kimchi, 332x Return

SpaceX (SPCX.O) and Tesla (TSLA.O) have formed a special committee to explore a potential merger deal. Elon Musk stated, "I think this would be a good idea." However, the merger is not finalized and requires the support of half of Tesla's total shareholders. SpaceX's latest financial report shows its third-quarter revenue exceeded expectations, with its share price surging 8.06% in after-hours trading. Tesla's after-hours share price rose 1.76%. According to Coinglass data, SPCX saw $4.26 million in network-wide liquidations over the past 12 hours, including $900,000 in long positions and $3.36 million in short positions. TSLA recorded $454,000 in network-wide liquidations in the same period, with $1,147 in long positions and $452,900 in short positions. Network-wide open interest for SPCX contracts stands at 6.4709 million units, valued at approximately $1.049 billion, up 6.33% in 24 hours. For TSLA contracts, network-wide open interest is 510,900 units, worth around $195 million, down 2.81% in 24 hours. The 24-hour trading volume for SPCX contracts across the network is $3.146 billion, up 129.2% year-over-year, while TSLA's 24-hour trading volume is $479 million, down 1.69% year-over-year.

According to an official announcement, Binance has announced that starting at 08:00 GMT+8 on October 27, 2026, Binance Leverage will launch a routine liquidation process targeting cross-margin leveraged accounts with total outstanding liabilities below $1 (in any currency). This liquidation will be executed daily as part of regular operations. The target accounts are: 1. Cross-margin leveraged accounts where the total outstanding liabilities (sum of all currencies) are less than $1 equivalent; 2. Leveraged accounts with no fund activity in the past six months. Fund activity refers to any operation that generates fund flows, including but not limited to: · Fund transfers: moving funds into or out of leveraged accounts; · Borrowing/repayment: taking out or repaying leveraged loans; · Position closing, close all positions, or repay all: quick functions provided on the leveraged trading page.

Per official announcement, Binance’s derivatives platform will launch perpetual contracts (each with a maximum leverage of 20x) at the following times (all times are UTC+8): 17:00 on October 21, 2026 for the CEGUSDT USDT-denominated perpetual contract; 17:05 on the same day for BACUSDT; 17:10 for IBKRUSDT; and 17:20 for MDTUSDT, all USDT-denominated perpetual contracts.

According to the Daily Mail UK, a man who laundered funds for a fraudster involved in a 5.5-billion-pound scam has surrendered 5.6 million pounds to the UK government. 48-year-old Hok Seng Ling, who pleaded guilty to participating in what is considered the UK’s largest money laundering case by value, was ordered by the court to hand over the funds. He served as the "butler" of Qian Zhimin, who orchestrated a Ponzi scheme that defrauded over 128,000 Chinese investors between 2014 and 2017, then converted the illicit proceeds into bitcoin and fled to the UK. Malaysian national Ling, who resides in Matlock, Derbyshire, assisted the so-called "Bitcoin Queen" in laundering illegal funds, helping her evade UK police pursuit by booking Airbnb accommodations and arranging support staff. Last November, after Ling pleaded guilty to money laundering-related offenses at Southwark Crown Court in London, he was sentenced to 4 years and 11 months in prison. A confiscation order was later issued, requiring him to surrender 5,603,305 pounds, most of which came from cryptocurrency seized at his arrest. The full sum has now been recovered, along with an additional 1,990 pounds in interest.

According to Bitget market data, South Korea’s KOSPI index surged 4.00% intraday, now standing at 5775.10 points. Samsung Electronics rose 6.8%, while SK Hynix gained over 7%.

Beating AI News: 17-year-old former Kimi researcher Chen Guangyu has been revealed to join Discovery Loop, an AI company founded by former Google chief scientist Jeff Dean. On October 20, Arfur Grok, an anonymous account tracking Silicon Valley AI talent movement, broke the news. Chen announced his departure from Kimi just five days prior; he previously worked on Attention Residuals architecture research and the development of Kimi K3. Discovery Loop was founded in August this year by Jeff Dean and three other Google veterans. The company plans to enable AI to independently propose research hypotheses, run thousands of experiments in parallel, and continuously adjust its approach based on results. It initially focuses on AI model development, with future expansion into sectors including healthcare, materials science, and energy. Alphabet, Google’s parent company, is one of its founding investors. The company has not yet launched a public product, but its valuation is already staggering. Business Insider reported in September that Discovery Loop is seeking funding at a valuation of around $50 billion. Earlier, Silicon Valley investor Deedy Das mentioned a 17-year-old who received five million-dollar-level AI job offers; outside speculation pointed to Chen, though Das never publicly disclosed the individual’s identity.