Haseeb Qureshi: Oppose fortress mode and advocate for the establishment of cryptographic recovery mechanisms

SoftBank Group CEO Masayoshi Son plans to raise up to $100 billion from investors in the Gulf region to establish a new fund to acquire companies and improve operations using AI technology. Recently, he has held talks with senior officials in the United Arab Emirates and other places, and SoftBank has completed an additional $30 billion investment in OpenAI (source: Financial Times)

The hardware wallet maker said it is investigating devices sold by a Southeast Asian reseller as social posts swirl about crypto assets drained from Bitcoin, Ethereum and Tron addresses.

[Ostium Announces Second-Phase Compensation Plan, Offering USDC Installment Payments and Equity Conversion] Ostium has released the second-phase compensation plan for liquidity providers, offering two mechanisms for users who have incurred losses exceeding 1,000 USDC and did not opt for the convenience payout. Plan A involves USDC installment payments, with funding sources including recovered assets, revenue sharing from the Ostium protocol and Gateway, and partner incentives. Plan B offers equity conversion into Ostium Labs shares, allowing users who comply with securities regulations to convert their outstanding losses into Ostium Labs equity based on the valuation of the next financing round. The second-phase portal is scheduled to go live on October 30, enabling users to claim funds allocated under Plan A. Users who opt for Plan B will no longer be eligible for installment payments under Plan A. Ostium stated that this plan is voluntarily initiated by the official team and does not guarantee full recovery of lost funds.

According to a survey by the University of Michigan, the initial consumer confidence index in the United States fell to 46.3 in October, hitting a new low since May. The current situation indicator has dropped to 44.7, the lowest in history. The expected indicator has risen to 47.3. Consumers expect prices to rise by 4.7% in the next year, with an average annual increase of 3.5% over the next 5 to 10 years. Joanne Hsu stated that consumer confidence in low-income and smaller stock portfolios has significantly decreased, and the decline in independent confidence has offset the increase in confidence among Democratic and Republican supporters. Consumers with various political orientations believe that the economic outlook is weaker than before the outbreak of the Iran conflict.

Cryptocurrency concept stocks in the US stock market generally rose, with MSTR up 3.89%, COIN up 5.45%, CRCL up 7.69%, SBET up 0.23%, BMNR up 1.81%, HOOD up 2.41%, and HYPE Treasury PURR up 0.72%.