PA Daily | AWS outage causes global applications like Coinbase to go down; Mt. Gox repayment deadline is October 31, facing $2.4 billion BTC sell pressure.

Today's news highlights:

AWS outage impact mitigation, partial restoration of Coinbase services

Alibaba Quark secretly launched the “C Plan”: involves conversational AI applications, possibly benchmarking ByteDance's Doubao.

AWS outage caused multiple popular applications and websites, including Coinbase and PlayStation, to go down globally.

Mt. Gox's repayment deadline is October 31, with 34,689 BTC remaining or to be gradually released into the market.

30 new wallets have withdrawn over 6.25 million LINK from Binance since October 11, worth approximately $116.7 million.

Richard Heart, the founder of Hex, transferred 81,000 ETH in the past 5 hours.

Macroeconomics

AWS outage impact mitigated, Coinbase services partially restored

According to the latest update from Coinbase Support, some users are now able to access and use Coinbase services, and the platform is showing initial signs of recovery. The official statement indicates that the team is still treating this issue as the highest priority and will continue to provide updates. Previously, it was reported that an AWS outage caused disruptions to several popular applications and websites globally, including Coinbase and PlayStation.

Ali Quark secretly launches “C Plan”: involves conversational AI applications, possibly benchmarking against Byte's Doubao.

According to exclusive reports from Sina Technology, Alibaba's Quark is advancing an AI business code-named “Plan C”, which is led by the core team of Quark, with several senior members from Tongyi Lab also participating. Multiple sources have revealed that this plan is related to the layout of conversational AI applications, and a new outcome is expected to emerge soon. According to insiders, “Plan C” has been secretly promoted within Quark for a long time, and what is about to surface is merely a phased result. “This is a product that requires long-term investment and relies on breakthroughs in model technology.” As for the origin of the code name “Plan C”, there are several speculations. One theory suggests that “C” stands for “Chat”, meaning Quark may launch a brand new form of conversation. Another more provocative internal speculation is that the code name “C” is derived from the classic game “Pac-Man”, with an obvious implication: “its goal is aimed directly at the bean bag.” As of now, Quark has not responded to the above information.

AWS outage causes global disruptions to several popular applications and websites, including Coinbase and PlayStation.

According to Down Detector, popular applications and websites such as Snapchat, Roblox, Fortnite, Duolingo, and Canva began experiencing issues around 4:00 PM Beijing time on October 20. The cause of the outage is related to Amazon Web Services (AWS), which experienced problems at its facilities in Northern Virginia, leading to increased error rates and delays in several services such as Amazon DynamoDB and Amazon Elastic Compute Cloud. This outage has a wide-ranging impact, affecting multiple platforms including Coinbase, Prime Video, and PlayStation. AWS is one of the largest cloud service providers in the world, with revenue reaching $108 billion last year, accounting for a significant portion of Amazon's profits.

Mt. Gox's repayment deadline is October 31, with 34,689 BTC remaining or entering the market in installments.

According to CryptoSlate, the Mt. Gox trustee must complete the three-phase process of basic repayment to Bitcoin creditors, early one-time repayment, and medium-term repayment by October 31. Currently, approximately 34,689 BTC remain in associated wallets, with Bitcoin and Bitcoin Cash distributed through Bitstamp, Kraken, or cash, some of which are managed through BitGo. Historical data shows that about 64.1% of funds have previously entered exchanges; if applied to the remaining balance, the worst-case scenario could see about 22,253 BTC entering exchanges simultaneously, with potential selling pressure of around $2.4 billion. Kraken and Bitstamp's processing windows are up to 90 days and 60 days respectively, and the actual arrival will be staggered in batches, which may also avoid the order book through custodial or OTC pathways.

X promotes the “Idle Username” trading market, with scarce accounts potentially exceeding one million dollars.

According to The Verge, Musk's X platform will launch the “X Handle Marketplace” for Premium Plus and Premium Business users, allowing them to browse and apply for idle usernames. Usernames are divided into two categories: Priority (free, including personal names, phrases, or alphanumeric combinations) and Rare (paid, priced around $2,500 to seven figures or more, depending on demand and uniqueness). After a successful change, the old username will be frozen; if the subscription is downgraded, the account will automatically revert to the original username. The official says that a paid redirect feature may be offered in the future.

opinion

He Yi: The Binance Ukraine account has not been hacked; the content about MEME coins was posted by a counterfeit account.

Binance co-founder He Yi clarified in a post that the Binance Ukraine account was not hacked, and that the content related to MEME coins was posted by a counterfeit account. Some KOLs attempted to replicate the narrative of the previous hack, attacking Binance's customer service channels without verification, creating topic conflicts. He Yi pointed out that several recent “rights protection” cases have been verified as false content or claims for compensation due to normal trading losses, reminding users to be cautious and not to believe rumors, in order to avoid being deceived.

Zhao Changpeng: “Binance Life” has become the first Chinese ticker on the Base App.

Binance CEO Zhao Changpeng (CZ) commented on the Base App's support for BNB Chain network token exchanges, stating that “Binance Life” has become the first Chinese ticker on the Base App, originating from the BNB Chain ecosystem.

CZ: Warning hackers using social media to post fake contract addresses, the official does not endorse any meme.

Binance founder CZ (Zhao Changpeng) issued a reminder stating that as the popularity of Meme coins rises, hackers have begun to target social media accounts with weaker security protections, using stolen accounts to post false contract addresses (CA) for the purpose of fraud. CZ emphasized that no official account will recommend or endorse specific Meme projects, urging users to remain vigilant to avoid asset losses due to clicking or interacting with unknown contracts.

Project Updates

BSC Meme “4” changes logo to cartoon pattern

According to user ai_9684xtpa's observation, BSC Meme “4” has changed its logo from the original CZ hand gesture image to a cartoon pattern “4”.

Binance Alpha will launch the BLUAI and TURTLE airdrop events on October 21 and October 22.

Binance officially announced that Binance Alpha will be the first platform to launch airdrops for Bluwhale (BLUAI) and Turtle (TURTLE). Eligible users can receive airdrop rewards using Binance Alpha points on the Alpha activity page after the trading opens on October 21 and October 22, respectively.

Binance Futures Launches “Binance Life” USDT Perpetual Contract

The Binance Futures platform announced that it will launch the “Binance Life” USDT perpetual contract on October 20, 2025, at 19:00 (Beijing time), supporting up to 50x leverage.

Upbit will list the Bio Protocol (BIO) trading pairs for KRW, BTC, and USDT.

The South Korean cryptocurrency exchange Upbit has announced that it will launch trading pairs for Bio Protocol (BIO) in KRW, BTC, and USDT.

SWAP Genesis Launch Today: HyperSwap Announces Token Allocation and 75% Revenue Buyback Mechanism

HyperSwap announced that the SWAP token will have its Genesis on HyperEVM and HyperCore on October 20, with a maximum supply of 100 million tokens. The token distribution is as follows: 25% for the community, 25% for investors, 25% for liquidity mining, 8% for core contributors, 10% for trading activity airdrops, 3% for advisors, 2.5% for LP, and 1.5% for HIP-2. The project will use 75% of product revenue for SWAP buybacks, with trading volume over the past six months estimated to exceed $5 million. The Genesis community and early investors will each receive 25 million tokens, which can be unlocked immediately; the mining portion will be released linearly over 12–36 months; xSWAP can be redeemed for up to six months, with 50% of any unvested portion being destroyed in case of early exit.

Vitalik releases GKR tutorial article: “Batch × Layer” protocol supporting ultra-fast ZK proofs.

Vitalik Buterin recently published an article detailing how the GKR (Goldreich–Kahan–Rothblum) protocol is used to accelerate ZK proofs, adapting to the “batch × multi-layer” computing structure, significantly reducing intermediate layer commitments, and only committing to inputs and outputs. The article uses the Poseidon2 hash as an example, explaining in detail the recursive proof process centered around sumcheck, and providing optimizations (Gruen’s trick, linear batching, partial rounds with only cubic leading terms), which can be combined with BaseFold or FRI in polynomial commitment scenarios. The author claims that the actual overhead is less than the theoretical value of traditional STARKs by about 100 times, with single-digit level overhead expected, and warns that the Fiat–Shamir challenge needs to guard against predictability risks within circuits.

Important Data

Andrew Kang clarifies that the wallets with partially liquidated funds do not belong to him.

According to Onchain Lens, wallets rumored to be associated with Andrew Kang (@Rewkang) were partially liquidated due to high leverage short positions on $BTC (40x), $ETH (25x), and $ENA (10x). However, after private communication between Onchain Lens and Andrew Kang, it was clarified that these wallets are not related to him.

30 new wallets have withdrawn over 6.25 million LINK from Binance since October 11, worth approximately $116.7 million.

According to Lookonchain monitoring, since the market crash on October 11, 30 newly created wallets have withdrawn 6,256,893 LINK (approximately $116.7 million) from Binance.

Data: Nearly 500 million USDT transferred from Binance to an unknown wallet

According to Whale Alert monitoring, 496,559,650 USDT (approximately $497 million) was transferred from Binance to an unknown wallet.

“Binance Life” soared by 50% possibly due to CZ's tweet, while multiple addresses' floating losses narrowed or turned into floating profits.

According to on-chain data from ai_9684xtpa, influenced by a tweet from Binance CEO CZ, Binance Life surged nearly 50% in a short period. Previously, the 12.7 million Binance Life held by the “big brother who heavily invested in Chinese Memes at the high point” saw its unrealized loss shrink from $1.02 million to the cost price of $0.33783. Additionally, a new address 0xca8…52448 invested $223,000 to chase the rise, with a cost price of $0.23234, and has currently made an unrealized profit of $19,000. Previously, Zhao Changpeng stated that “Binance Life” has become the first Chinese ticker on the Base App.

Ethereum spot ETF saw a net outflow of $312 million last week, with BlackRock's ETHA leading the outflows.

According to SoSoValue data, from October 13 to October 17, there was a significant outflow of funds from Ethereum spot ETFs, with a net outflow of $312 million in one week. Among them, the BlackRock ETF ETHA saw a net outflow of $245 million, the largest outflow for the week, and its historical cumulative net inflow has reached $14.24 billion; the Grayscale ETF ETHE had a net outflow of $101 million, with its historical cumulative net outflow expanding to $4.68 billion. In contrast, the Fidelity ETF FETH achieved a weekly net inflow of $94.29 million, continuing to be a mainstream holder, with a historical cumulative net inflow of $2.79 billion. As of the time of writing, the total net asset value of Ethereum spot ETFs is approximately $25.98 billion, accounting for 5.58% of Ethereum's total market value, with a historical cumulative net inflow of $14.6 billion.

Bitcoin spot ETFs saw a net outflow of $1.23 billion last week, marking the second highest in history.

According to SoSoValue data, from October 13 to October 17, there was a massive outflow of funds from Bitcoin spot ETFs, with a net outflow of $1.23 billion in a single week, marking the second highest record in history, and all 12 ETFs recorded net outflows. Among them, Grayscale's GBTC had a net outflow of $298 million, with a historical cumulative net outflow reaching $24.5 billion; ARKB, jointly launched by Ark Invest and 21Shares, had a net outflow of $290 million but still maintains a historical net inflow of $2.06 billion. As of now, the total net asset value of Bitcoin spot ETFs is approximately $143.93 billion, accounting for 6.75% of Bitcoin's total market capitalization, with a historical cumulative net inflow of $61.54 billion.

Data: In the past 7 days, Hyperliquid had a net outflow of $1.5 billion, with over $1.4 billion flowing into Arbitrum.

According to data from Artemis, in the past 7 days, Hyperliquid has become the blockchain with the highest net outflow of funds, with a net outflow amounting to 1.5 billion USD. The data shows that among the funds flowing out of Hyperliquid, as much as 1.46 billion USD has gone to the Arbitrum network. During the same period, Arbitrum recorded a total net inflow of 1.8 billion USD, ranking first among all blockchains, with most of the funds coming from Hyperliquid. This indicates that there may be a large amount of funds recently flowing out of Hyperliquid through the Arbitrum cross-chain bridge.

Hex founder Richard Heart transferred 81,000 ETH in the past 5 hours.

According to Yu Jin, addresses associated with Richard Heart, the suspected founder of projects like Hex, PulseChain, and PulseX, transferred 81,000 ETH (approximately $323 million) in the past 5 hours. This group of addresses had purchased 132,000 ETH on-chain for 499 million DAI in March 2023, at an average price of about $3,770; except for the 9,500 ETH transferred via Tornado Cash in the past 6 months, the rest have been held until now.

Institutional Holdings

M2 Capital invested $21 million in AVAX One, which is listed on Nasdaq.

According to Crowdfund Insider, UAE-based M2 Capital has announced an investment of $21 million in the Nasdaq-listed digital asset vault AVAX One. AVAX One has been renamed by AgriFORCE, with a strategy of holding Avalanche's native token AVAX and participating in potential staking, liquidity provision, and other on-chain activities.