US Stock Futures Dive Further

According to TradingBeats monitoring, ahead of SK Hynix’s earnings release, a whale account on Hyperliquid built a bullish position in SKHX in two separate batches. The account currently holds all 1,500 long positions, valued at approximately $1.6595 million, with an unrealized profit of around $268,400, yielding a 57.9% return. On October 23, it first opened 1,000 SKHX long positions at an average price of $896.65; on the evening of October 26, it added to its position at $988.86, bringing the overall average entry price to $927.39. The total notional value of the two long trades is roughly $1.3911 million, using 3x isolated margin leverage. As the pre-earnings rally for SK Hynix persists, SKHX has strengthened further today, currently trading at $1,106.3, up about 6.63% from its earlier level of $1,037.5. The initial 1,000-position base has captured a 23.38% price gain; even with the subsequent higher-cost add-ons, the current price remains around 19.29% above the overall average entry price.

Binance announced that due to spot price deviations across multiple platforms and deposit/withdrawal restrictions, it will activate the last traded price protection mechanism for the USDT-margined BULLAUSDT perpetual contract at 14:00 Beijing time on October 28. The mechanism uses mark price smoothing to mitigate sharp price swings. The protection period will remain active until BULLA spot prices across platforms converge and a stable index price is established; a separate announcement will be released when the period ends. During the protection window, the mark price is calculated based on the contract’s recent average transaction price, with a fluctuation cap of roughly ±1% per second. The funding rate cap has been adjusted from ±2.00% to ±0.005%, and the settlement interval will not switch to hourly even if the cap is triggered. Per market data, BULLA has plunged over 50% in the past 24 hours, currently trading at $0.073.

Decentralized perpetual trading platform Trade.xyz announced in a post that JIO-related contracts have been switched from the pre-IPO perpetual market to external pricing, and are now officially live, supporting up to 10x leverage and 24/7 trading. The platform previously launched a pre-IPO perpetual market for JIO, whose underlying asset is Indian telecom provider Reliance Jio Infocomm Limited.

Beating AI News Flash: OpenAI’s 28-day product sprint hits Day 23. ChatGPT has added iCloud Mail and Calendar plugins, letting users check emails, organize inboxes, and view or edit schedules, with the feature rolling out gradually to all subscription tiers. However, Tibo called this insufficient, reposting with the quip: “Just kidding, today is still reset day!” The rollout is set to be completed before 3 PM Beijing time on October 28.

According to Bitget market data, Japanese storage stock Kioxia surged 16%, marking its largest single-day gain in nearly 12 weeks. Meanwhile, South Korean stocks Samsung Electronics rose 9.5% and SK Hynix gained 10% today.

Dong察 Beating AI News Flash: Swiss AI lab Giotto has launched two models, Alto and Solo, claiming to have built "Europe's smartest sovereign AI". The lab emphasized that the models are hosted on European cloud infrastructure, with data remaining in Europe, and do not rely on U.S. cloud service providers. However, shortly after release, netizens uncovered issues. When testing Alto, the model surprisingly identified itself as Kimi, developed by China's Moonshot AI. Facing community inquiries, Aldo Podestà, co-founder and CEO of Giotto, admitted the models did inherit some Kimi weights, but stressed the team had conducted retraining and added self-developed inference-time computing (TTC) technology. He provided no details on the specific Kimi version used or which exact weights were inherited. More ironically, Podestà himself published an article titled "Open Source is a Trojan Horse" on October 19, criticizing Europe for packaging open-source models as "sovereign AI", noting such moves often amount to another form of dependency on external parties. Just 8 days later, he was caught doing the exact same thing – a clear case of the pot calling the kettle black. This is not an isolated incident. On September 2, Spanish AI firm Multiverse Computing promoted its Quasar 438B as "Europe's leading AI model", but omitted the model's base architecture in its launch announcement. It was only the next day that a technical post clarified the model was actually compressed and optimized based on Zhipu AI's GLM-5.2.