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2026-10-24 · 8 high-impact headlines

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  1. Security Announcement Regarding the Implantation of Abnormal Scripts on BlockBeats Web PagesBlockBeats news, October 24: This week, multiple security firms reported security vulnerabilities related to DarkSword to BlockBeats. Upon investigation, it was found that on October 22, a content page titled "Global Market Risk Aversion..." on BlockBeats' mobile web H5 page was copied by an attack team, which injected a malicious script from a third-party domain. When users search for that news flash on the page, both the original news flash and the malicious news flash with the injected script appear in the search results. We reproduced the issue and completed cleanup and remediation immediately upon confirmation. Meanwhile, since the actual effective exploitation window for the DarkSword-related security vulnerabilities is concentrated in two version ranges—iOS 18.6–18.7.2 and iOS 26.0–26.1—we also remind all iOS users to upgrade to the latest iOS 27 system promptly. After this week's global PHP vulnerability incident, BlockBeats has investigated more than dozens of related vulnerabilities, and technical staff are continuing the investigation. It must be emphasized that BlockBeats has never supported any "wallet login" or "connect wallet" feature. Any BlockBeats App that requires "wallet login" or "connect wallet" is a third-party fake App. BlockBeats will further strengthen the access review and change management of third-party scripts, continuously monitor external resources loaded by pages, and improve the alerting and handling process for abnormal situations. Here, we also thank security firms including SlowMist and GCSA for their assistance provided at the earliest opportunity. We express our gratitude to everyone on the front lines maintaining industry security.
  2. IRYS experienced a short squeeze this morning, surging past $0.32 at one point and gaining over 280% in 24 hours.BlockBeats news, October 24 - According to HTX market data, IRYS surged past $0.32 this morning, then fell back to $0.10, up over 280% in 24 hours, with a market cap currently at $266 million. This market movement may be influenced by short squeeze sentiment in futures contracts; IRYS perpetual contracts briefly broke $0.5, rising over 780% within 4 hours, and have now fallen back to around $0.10.
  3. This week's macro highlights review: Rising risk of U.S.-Iran conflict escalation, AI financing concerns trigger U.S. stock market selloff.BlockBeats news, October 24 — This week global markets focused on the escalation of the US-Iran conflict, AI capital expenditure and financing risks, and the US midterm elections. Trump threatened a possible second small-scale "Epic Fury" operation against Iran, and Middle East supply risks pushed Brent crude to a roughly five-month high. Meanwhile, Meta's massive AI spending triggered market concerns over capital returns and financing pressure, the US tech sector suffered a sell-off, US Treasury yields fell, and capital shifted to bonds as a safe haven. This week's macro highlights are as follows: Trump threatens another strike on Iran, risk of Middle East escalation rises Trump said he would not rule out launching another small-scale "Epic Fury" operation, while saying the war could end soon and claiming the US could seize all of Iran's oil. According to Axios, a US intelligence memo warned that Iran's assassination plots against US officials overseas have reached an advanced stage. Iran warned that if the US and Israel resume attacks, retaliation could expand to US military bases in the Gulf region, energy facilities, and undersea communications cables. The US and Iran still have significant differences on lifting the blockade, the nuclear issue, and arrangements for the Strait of Hormuz, and the Middle East situation continues to affect the crude oil market. Meta's free cash flow turns negative, AI cash burn triggers US stock sell-off Meta's third-quarter revenue rose 26% year-on-year to $64.6 billion, but free cash flow turned negative at $2.12 billion, marking its first quarterly cash burn in more than a decade. The company adjusted its 2026 capital expenditure guidance to $135 billion to $145 billion and established a new class of non-voting stock to provide more channels for financing, employee compensation, and M&A. After the earnings release, Meta shares fell as much as 8%, and AI-related stocks such as Nvidia and CoreWeave came under pressure in tandem, as investors began to reassess the return cycle and financing costs of AI infrastructure investment. SpaceX revenue surges 161%, expectations of merger with Tesla heat up SpaceX's third-quarter revenue reached $14.6 billion, up 161% year-on-year, with net profit of $4.4 billion, of which AI infrastructure business revenue was about $7.56 billion, making it the company's largest business segment. The company expects first-quarter 2027 revenue to reach $33 billion to $37 billion. Meanwhile, SpaceX and Tesla are said to have established a special committee to study a merger plan, with a potential transaction size of about $3.5 trillion. Musk publicly said the merger has multiple advantages, but related-party transactions, shareholder review, and corporate governance remain major obstacles. Trump increases midterm election spending, economic approval rating falls to 34% Trump's camp is courting voters through policies such as agricultural aid and healthcare refunds, while ramping up funding for Republican candidates. According to reports, MAGA Inc. has invested nearly $277 million in Republican candidates since September. Meanwhile, a CNBC survey shows that approval for Trump's economic policies has fallen to 34%, with 65% of respondents expressing disapproval, and the cost of living remains voters' primary concern. Republican candidates face a dilemma: they need Trump to mobilize the base while distancing themselves from some controversial policies. Anthropic races toward IPO, with compute commitments potentially reaching as high as $750 billion According to a draft IPO prospectus reviewed by The Wall Street Journal, Anthropic generated approximately $16.3 billion in revenue in the first half of this year, far above the $1.1 billion in the same period last year, but its computing and infrastructure spending during the same period approached $9 billion. The company has already committed to cloud computing contracts worth approximately $450 billion with terms of seven to ten years, and total future infrastructure commitments exceed $600 billion—potentially reaching approximately $750 billion if all projects under negotiation materialize. The combination of rapid growth and massive compute investment makes its IPO an important test case for the market to evaluate AI business models and returns on capital. AI bubble debate heats up as hedge funds accelerate tech stock sell-offs Ken Griffin, founder of Citadel Securities, warned that the current AI market may be in a bubble; Goldman Sachs noted that hedge funds are cutting tech stock holdings at the fastest pace in at least a decade. On the other hand, Morgan Stanley believes the U.S. stock market pullback may be nearing its end, while JPMorgan said that if bond yields stabilize, it would provide support for equities. Long-term AI demand remains favored, but investors are shifting from chasing growth to focusing on cash flow, debt costs, and returns on capital. The core shift in the market this week is: geopolitical risks are driving up energy prices, while AI capital expenditure and financing pressures are weakening risk appetite for tech stocks. Before the U.S.-Iran situation, the U.S. midterm elections, and AI company financing progress become clear, crude oil, bond yields, and earnings reports from major tech companies will remain important variables affecting global markets.
  4. A Chinese national has been extradited to the United States on suspicion of involvement in a crypto scam targeting Americans, with over $36.9 million in involved funds.BlockBeats news, October 24 — According to an official statement from the U.S. Department of Justice, the U.S. Attorney's Office for the Central District of California said on October 23 that 44-year-old Chinese national Zheng Zhao was extradited from the Netherlands to the United States for allegedly participating in a transnational crypto investment fraud scheme targeting U.S. citizens, and made his initial court appearance the same day. Zhao has been ordered detained and is scheduled to appear in court again on November 30. If convicted, he faces a maximum sentence of 20 years in federal prison. According to court documents, the fraud network was based at scam centers in Cambodia and contacted U.S. victims through social media, phone calls, text messages, and dating platforms, using websites impersonating legitimate cryptocurrency trading platforms to induce victims to invest and falsely claiming that the investments were continuously increasing in value. The funds involved were subsequently laundered through U.S. shell companies, international bank accounts, and digital asset wallets. The investigation showed that more than $36.9 million in victim funds were transferred from U.S. bank accounts controlled by the network to a single account at Deltec Bank in the Bahamas. Zhao and other co-conspirators arranged for the funds to be converted into USDT and then transferred to digital asset wallets controlled in Cambodia, ultimately distributed to heads of scam centers in Cambodia and surrounding regions. The scheme involved at least 174 identified U.S. victims. Currently, 8 co-conspirators have pleaded guilty. The U.S. Department of Justice emphasized that criminal charges do not imply the defendant is guilty, and Zhao is presumed innocent until a guilty verdict is rendered by the court.
  5. A trader liquidated 20.06 million AI tokens for a profit of $2.14 million, causing the token price to plummet 15% instantly after the sale.BlockBeats news, October 24 - According to EmberCN monitoring, trader "Salem1299534" liquidated 20.06 million AI tokens about 2 hours ago, converting them to 461 ETH, valued at approximately $1.09 million. This sell-off caused the AI price to instantly drop by 15%. The trader previously invested about $980,000 to buy AI, and ultimately sold for about $3.12 million, with a cumulative profit of approximately $2.14 million.
  6. Bitcoin's consolidation range persists as the market focuses on the Federal Reserve's decision, Strategy's earnings report, and the U.S. midterm elections.BlockBeats news, October 24 — Bitcoin has recently continued to trade in a range, with investors watching the Federal Reserve's interest rate decision on October 28, Strategy's earnings report on October 29, and the U.S. midterm elections on November 3 to gauge the subsequent trend. Analysts noted that factors such as U.S. inflation, tariffs, and the U.S.-Iran conflict continue to weigh on risk assets, and that spot Bitcoin ETF fund flows also remain divergent. In Binance's perpetual futures market, bulls and bears are still locked in a fierce battle. The liquidation heatmap shows about $8 billion in short positions above the spot price and about $7.6 billion in long positions below it. Bitcoin's earlier rebound near $84,890 consumed some short-side liquidity, but profit-taking near $85,000 capped the rally; the $80,000 level below is seen as key support, with about $3.57 billion in long positions near that price and another roughly $3.6 billion near $79,000. Analysts believe that until Bitcoin effectively breaks out of its current trading range, short-term trading is likely to remain dominated by repeated fluctuations.
  7. SK Hynix Abandons Solidigm US IPO, Micron and SanDisk Poised to Benefit from Eased NAND Supply PressureBlockBeats news, October 24 — According to a report by LYNX Equity Strategies analysts, SK Hynix has abandoned the U.S. IPO plan for its subsidiary Solidigm, meaning its original path to raise funds through a listing to expand U.S. NAND flash production capacity has been blocked. The analysts believe that if the related capacity expansion plan had materialized, it could have increased global supply and suppressed industry pricing after three years or more; now that this potential risk has faded, it constitutes a substantial positive for Micron and SanDisk. The analysts also noted that this change mainly affects medium- to long-term supply expectations and does not immediately alter the current market supply-demand landscape, and that the stock performance of the relevant companies is still affected by the overall market environment. Intel, meanwhile, faces a slight negative impact, as its Ohio campus may lose a potential manufacturing project. On Friday, Micron closed up 2.46%, while SanDisk closed down 1.82%.
  8. Trump threatens further military action against Iran; Iran plans to expand countermeasures to undersea cablesBlockBeats news, October 24: U.S. President Trump stated that the United States may launch another small-scale "Epic Fury" operation against Iran, but also said the U.S. could end the war quickly, with the key being whether to choose to thoroughly end the conflict or let the fighting gradually subside. Previously, The New York Times reported that U.S. and Israeli militaries had drawn up plans to strike Iran again after the U.S. midterm elections, but it remains uncertain whether Trump will approve them. Meanwhile, the naval force of Iran's Islamic Revolutionary Guard Corps said that two supertankers attempting to cross the southern part of the Strait of Hormuz struck mines on Friday, carrying a combined total of more than 4.5 million barrels of crude oil, and the crew abandoned ship and escaped; the claim has yet to be independently verified. According to Reuters, two senior Iranian security officials revealed that if the United States and Israel attack Iran again, Iran has drawn up plans to strike undersea communications cables in the Gulf region and may expand its retaliation targets to covert military bases. There is currently no information that any such strikes have been carried out. The U.S.-Iran military standoff continues to intensify, and risks to shipping through the Strait of Hormuz and to energy and communications infrastructure in the Gulf region are rising further.