Core Viewpoint - The article discusses the fluctuating market conditions influenced by Trump's tariff threats and subsequent easing of rhetoric, alongside better-than-expected import and export data, leading to a volatile stock market and bond yields [5]. Market Conditions - The funding environment is described as balanced and slightly loose, with a notable increase in long-term bond yields [3]. - The central bank conducted a 1,378 billion yuan reverse repurchase operation, resulting in a net injection of the same amount [3]. - The overnight funding rates are stable, with DR001 around 1.31% and DR007 at approximately 1.45% [3]. Interest Rates and Bond Market - The 10-year Treasury yield experienced fluctuations, initially dropping by 3.2 basis points to 1.743% following Trump's tariff announcement, before rising to 1.7575% and settling around 1.75% [5]. - The bond market showed a slight upward trend in yields, with the 10-year rate reaching approximately 1.76% during the day [5]. Stock Market Performance - The stock market opened lower but quickly rebounded after reaching 3,800 points, supported by positive trade data [5]. - The market demonstrated resilience, with stocks recovering and nearing positive territory by the afternoon [5]. Investor Sentiment - Investor sentiment appears cautious, with analysts closely monitoring Trump's statements and adjusting their strategies accordingly [6]. - There is a sense of urgency among non-bank financial institutions, as evidenced by a rush to buy long-term bonds despite recent losses [6].

Core Viewpoint - The company has approved a budget of HKD 24.0 million for purchasing cryptocurrencies and commodities over the next year, indicating a strategic move towards diversifying its investment portfolio in response to market conditions [1] Group 1: Investment Strategy - The budget will be utilized for acquiring cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH), as well as commodities like gold and silver [1] - The funding for these purchases will come from the company's internal cash resources, suggesting a strong liquidity position [1] Group 2: Market Outlook - The company expresses confidence in the long-term potential of cryptocurrencies and commodities, citing their ability to act as a hedge against inflation and their potential for appreciation [1] - The current market conditions are viewed as an opportune time for investment in these assets, reflecting a proactive approach to capitalizing on market trends [1] Group 3: Business Integration - The acquisition of cryptocurrencies is intended to complement the company's existing online gaming services, indicating a strategic alignment between its investment activities and core business operations [1]

Core Viewpoint - The company has approved a budget of HKD 24 million for purchasing cryptocurrencies and commodities over the next year, indicating a strategic move into the digital asset space [1] Group 1: Financial Commitment - The board has allocated a budget of HKD 24 million for the acquisition of cryptocurrencies and commodities [1] - The funding for these purchases will come from the company's internal cash resources [1] Group 2: Investment Focus - The company plans to invest in regulated and licensed trading platforms [1] - The targeted assets include Bitcoin (BTC), Ethereum (ETH), gold, and silver [1] Group 3: Market Strategy - The execution of these purchases will be based on market conditions, suggesting a flexible investment approach [1]

⽴⾼控股有限公司 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示概不就因本公告全部或任何部 分內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 （於 開 曼 群 島 註 冊 成 立 的 有 限 公 司 ） Lapco Holdings Limited 本公司股東及潛在投資者請注意，本集團可能買賣的任何加密貨幣及商品將取決於市 場情況，並由董事會酌情決定。加密貨幣及商品市場在短期內可能動盪，而加密貨幣 及商品的價格亦可能存在波幅。因此，無法保證本集團買賣任何加密貨幣及商品的時 間、數量、類型或價格。本公司股東及潛在投資者於買賣本公司股份時務須審慎行事。 本公司將遵守香港聯合交易所有限公司GEM證券上市規則（「GEM 上市規則」）中有關 本集團買賣加密貨幣及商品的相關披露規定。 – 1 – 承董事會命 立高控股有限公司 執行董事 （股份代號：8472） 劉晶晶 自願性公告 擬購買加密貨幣及商品 本公告乃由立高控股有限公司（「本公司」，連同其附屬公司統稱「本集團」）自願 作出。 本公司董事會（「董事會」）謹此通知本公司股東及潛在投資者 ...

Bitcoin, other cryptos rebound, shutdown impasse continues, airlines see thousands of flight delays, and more news to start your day. ...

Company Overview - Webull Corporation is a technology-driven financial services company focused on building a next-generation global digital investment platform, providing powerful analytical tools, free market data, and trading platforms to empower investors and traders [1] - The company went public on NASDAQ in April 2025 through a merger with SPAC SK Growth Opportunities Corporation, with an estimated valuation of approximately $7.3 billion [1] Business Model Analysis - Webull's core business model relies on payment for order flow (PFOF) and interest-related income, adopting a "zero-commission" model while generating revenue through various channels [2] - Recent introduction of the "Webull Premium" subscription service marks a strategic exploration towards recurring revenue, offering advanced data and analysis tools to paying users [2] Financial Performance - For the quarter ending June 30, 2025, Webull reported total revenue of $131.493 million, a year-over-year increase of 46.3%, with significant contributions from stock and options order flow rebates and interest-related income [4][12] - The company achieved a total revenue of $248.862 million for the first half of 2025, reflecting a 39.2% year-over-year growth [4][12] Revenue Breakdown - The largest revenue source was stock and options order flow rebates, contributing $132.8 million, followed by interest-related income at $67.427 million, together accounting for 80.5% of total revenue [4][12] - The company’s revenue is predominantly derived from the U.S. market, which accounts for over 90% of total revenue, with notable growth in emerging markets like Canada, which saw over 1200% quarterly growth [5] Market Outlook - The global electronic brokerage market is valued at $14.1 billion and is expected to grow at a compound annual growth rate (CAGR) of 6.4% to 10.5%, potentially reaching $26.2 billion to $38.3 billion by the end of the decade [7] Competitive Landscape - Webull competes with major fintech companies like Robinhood, Futu, and Tiger Brokers, with a market capitalization of $5.6 billion and 4.73 million active accounts [8][9] - Webull's valuation reflects typical growth stock characteristics, with a forward P/E ratio of 67.06, indicating high market expectations for future earnings growth [10][11] User Base and Growth Potential - Webull has a strong user acquisition capability with 4.73 million active accounts, although the average account balance is significantly lower than competitors, indicating potential for growth in user value [11] - The company’s low average user asset presents an opportunity for increasing total asset scale through user engagement and incentives [11] Cryptocurrency and International Expansion - Webull reintroduced cryptocurrency trading for U.S. users in August 2025, aiming to capitalize on the growing crypto market [18] - The company has obtained regulatory licenses in key global markets, including Asia, Europe, and Latin America, supporting its international expansion strategy [25][26] Financial Health - Webull's financial status is robust, with significant revenue growth and effective cost control, despite reporting GAAP net losses primarily due to non-cash expenses [12][14] - The company’s operational efficiency is highlighted by a decrease in marketing expenses, indicating a shift towards more cost-effective customer acquisition strategies [16]

Market Overview - The recent market crash resulted in over 1.6 million liquidations, totaling $19.3 billion, marking the highest single-day liquidation amount in history [1][7][24] - Major cryptocurrencies experienced significant declines, with Bitcoin (BTC) dropping to a low of $101,516, representing a 16% decrease within 24 hours, while Ethereum (ETH) fell by 22% to a low of $3,400 [2][7] - Altcoins suffered even more severe losses, with some experiencing declines of 80% to 90% [2][4] Liquidation Details - The liquidation breakdown showed that long positions accounted for $16.81 billion, while short positions totaled $2.495 billion, with the largest single liquidation occurring on Hyperliquid for ETH-USDT, valued at approximately $203 million [7][8] - The derivatives market amplified the crash, with a total of $19.3 billion liquidated in just 24 hours [7][8] Causes of the Crash - Analysts suggest multiple factors contributed to the crash, including geopolitical tensions related to U.S.-China trade tariffs, which heightened market fears [9][10][11] - The automatic liquidation of cross-margin positions by centralized exchanges (CEX) was also cited as a significant factor leading to the sharp decline in altcoin prices [11] - A large institution's massive liquidation on Binance was speculated to have triggered the market downturn, particularly affecting the price of USDe, which briefly fell to $0.65 [12][20] Winners and Losers - Some traders capitalized on the extreme market conditions, with a notable BTC whale reportedly making over $200 million by shorting BTC and ETH [15][26] - Conversely, many investors faced substantial losses, with some accounts being completely wiped out, including one individual losing $80 million [1][24] Recovery and Future Outlook - Despite the significant downturn, there are indications of recovery in some assets, with certain traders successfully bottom-fishing during the crash [17][20] - The market remains volatile, and liquidity issues are expected to persist, particularly over weekends [24][26]

Core Insights - The cryptocurrency market has experienced a significant crash, leading to massive liquidations and financial distress among traders [15][19]. - A notable incident involved a Ukrainian trader who reportedly committed suicide after suffering substantial losses, highlighting the severe emotional and psychological impact of the market downturn [3][5]. Market Overview - On October 11, the cryptocurrency market saw a historic drop, with Bitcoin plummeting over 13% within 24 hours, reaching a low of approximately $105,900, down from a peak of $126,250 earlier in the week, marking a nearly 20% decline [15]. - The total liquidation amount in the cryptocurrency market reached $19.358 billion, affecting around 166,000 traders, who lost all their investments [15][19]. - Approximately 87% of the liquidations were from long positions, with Bitcoin alone contributing $5.317 billion to the total liquidation amount [15]. Trader Experiences - Several traders shared their experiences of significant losses, with one individual reporting a loss of $80 million, reflecting the drastic shift from financial success to despair [6][8]. - Another trader expressed feelings of hopelessness after losing all his investments, emphasizing the emotional toll of the market's volatility [5][8]. Market Dynamics - The crash was attributed to a combination of factors, including high leverage among traders, with over 70% using more than 10x leverage, which triggered forced liquidations as prices fell [19]. - Macro-economic factors, such as the announcement of increased tariffs by the Trump administration, contributed to a risk-off sentiment among investors, leading to widespread selling [19].

比特币向上升破115000美元，过去24小时内上涨4.25%，短线拉升近1000美元。截至发稿，比特币涨近 4%，暂报115357.2美元。据CoinGlass数据显示，最近24小时，全网加密货币全球共有183988人被爆 仓，爆仓总金额为6.30亿美元。 经济观察网据每经网，北京时间13日凌晨，美股股指期货开盘上涨，标普500指数期货涨近1%，纳斯达 克指数期货涨1.21%，道琼斯指数期货涨0.71%。 ...

每经AI快讯，10月12日，行情显示，以太坊涨至4021.33美元/枚，过去24小时内涨5.63%。 ...