MeNews

U.S. stocks closed higher on Wednesday, with technology shares strengthening, Dell surging, and oil prices stabilizing. U.S. Treasury yields approached 5%, and global stock markets may face a 5%-8% correction. Trump said the strikes on Iran would end soon and that the Strait of Hormuz would be renamed the Trump Strait. The former British prime minister warned that failure to control debt would force emergency spending cuts. The Beige Book said the U.S. economy grew moderately, with AI and data centers serving as key supports. Tron’s USDT supply surpassed Ethereum’s for the first time. Broadcom’s Q3 results exceeded expectations, and its AI revenue guidance was raised. Robinhood Chain generated $3.75 million in daily fees, exceeding the combined total of Solana, ETH, and Base.

On-chain analyst nooman reports Meme coin exchanges rapidly pivot to perpetual contracts, with FOMO and Pump.fun seeing sharp DAU gains. FOMO perpetuals near 4,000 DAU and $334M daily volume; Pump.fun around 1,200 DAU and $25.3M.

ME News, November 6 (UTC+8): According to the Kaia blog, as Kaia transitions to a permissionless network, KAIA in existing public delegations must be migrated to the new staking contract. Staked KAIA will not be migrated automatically; users must withdraw it from the existing contract and deposit it into the new contract themselves. The migration process involves submitting a withdrawal request, waiting 7 days, withdrawing the tokens, and redepositing them into the new staking contract. Submitting a withdrawal request alone does not complete the migration. Kaia will release a detailed user guide on November 13. Kaia Portal will open the migration menu and begin accepting withdrawal requests on November 17, with withdrawals and redeposits available starting November 26. The migration menu will guide users through migrating to their currently delegated...

Hong Kong SAR will introduce crypto asset reporting starting in 2027, covering major cryptocurrencies such as Bitcoin. Mandatory registration will be required, and service providers must retain due diligence records. The relevant authorities have established a dedicated task force to provide technical and advisory support. The industry is watching whether the reporting scope will extend to services such as custody and brokerage, and how the initial list of exchange partners will affect future cross-border data sharing.

ME News, Nov. 6 (UTC+8) — Charu Chanana, chief investment strategist at Saxo Financial, said in a commentary that it is still too early to declare that the market has entered a bear market after Wall Street’s sharp overnight decline. She noted that such market declines often reflect investor panic, forced liquidations, and deteriorating market sentiment. Although the sell-off has spread to the broader market, the current shock is mainly concentrated in factors such as the AI investment cycle, regulatory uncertainty, and overly concentrated positioning.

More importantly, investors should watch whether market weakness spreads further to corporate earnings, credit conditions, employment, and economic growth. However, extreme sell-offs can also create conditions for a market rebound. She added: “Once selling pressure eases, the market may rebound quickly, sometimes even before economic data shows clear improvement.” (Source: ODAILY)

ABB said that relevant government authorities had blocked SoftBank’s $5.4 billion acquisition of its robotics business in China, and that the deal would need to find another path forward. ABB’s robotics business is extensive in China, supplying manufacturers such as BMW and employing more than 7,000 people. SoftBank founder Masayoshi Son had previously described the acquisition as part of his AI expansion strategy.

Abstract:
ABB said that Chinese government authorities blocked SoftBank's $5.4 billion bid to acquire ABB's robotics business in China, and the deal will need another path to progress. ABB's robotics unit is large in China, supplying arms to manufacturers such as BMW and employing over 7,000 people. SoftBank founder Masayoshi Son had previously framed the acquisition as part of an AI expansion strategy.

ME News reports that on November 6 (UTC+8), the 2026 State of AI in the Enterprise report released by Silicon Valley venture capital firm Menlo Ventures showed that 89% of U.S. enterprise spending on open-source models went to Chinese models, with Kimi accounting for 61%, DeepSeek 15%, and GLM 11%. In addition, on the global AI model aggregation platform OpenRouter, Chinese large language models’ Token call volume had continued for 27 consecutive weeks as of the week of October 26 to November 1.

ME News reported on November 6 (UTC+8), citing Lookonchain data, that a whale sold 1 million UNI ($7.32 million) over the past two days. The whale received 20.32 million UNI ($139.4 million) from the Uniswap UNI Timelock wallet a year ago. (Source: PANews)

ME News reports that on November 6 (UTC+8), Mastercard was granted two U.S. patents designed to assess money laundering risks before users make cryptocurrency transfers and approve transactions without disclosing transaction details externally. According to documents published by the U.S. Patent and Trademark Office, Mastercard obtained the two patents on November 3. The first technology can analyze a recipient’s transaction history before a transfer and estimate how much the user’s own risk score would increase after completing the transaction, helping the user decide whether to proceed. The second technology allows transactions to be processed on a private network of authorized nodes, with a central system verifying balances and deciding whether to authorize them, thereby protecting transaction privacy and preventing double spending. (Source: ChainCatcher)

ME News, November 6 (UTC+8) — Hong Kong Under Secretary for Financial Services and the Treasury Joseph Chan Ho-lim said at a meeting of the Legislative Council’s Panel on Financial Affairs that Hong Kong will further optimize its tax concession regimes for funds, single-family offices, and carried interest. This includes expanding the scope of the tax exemption to cover sizeable single-investor funds and a wider range of eligible investments, such as loans and private credit investments, digital assets, and precious metals. The measures can take effect from the 2025/26 tax year once the relevant amendment bill is passed.

Chan also said that Hong Kong’s gold central clearing and settlement system will officially launch in the first quarter of next year, providing efficient and reliable clearing services for over-the-counter gold trading in line with international standards. (Source: ChainCatcher)

ME News, November 6 (UTC+8) — According to the latest report from market research firm Counterpint, major memory suppliers are expected to set new revenue records in the fourth quarter as next-generation HBM products launch and prices continue to rise. In the third quarter of 2026, Samsung led the DRAM market with a 38% share. SK hynix posted stronger quarter-over-quarter growth, with revenue up more than 40%, recapturing some market share. Micron also saw strong growth driven by demand for memory in AI data centers, though its growth rate was lower than those of Samsung and SK hynix. ChangXin Memory Technologies’ market share rose to 9%, up from 5% in the same period last year. (Source: ODAILY)

Chainalysis announced that attackers had been exposed to all users’ names, usernames, password hashes, and valid authentication tokens, and that some customers’ plaintext passwords had also been leaked. To investigate, it took KYT and login pages offline and notified accounts suspected of unauthorized access. It had previously said it found no evidence of unauthorized access, but some non-sensitive data had still been accessed.

Abstract: Chainalysis disclosed that attackers gained access to all users’ full names, usernames, password hashes, and valid authentication tokens, with some plaintext passwords exposed through a separate attack. In response, the company took down KYT and other login-related tools and notified potentially affected accounts. Earlier statements had claimed no evidence of unauthorized access, though some non-sensitive data such as user IDs, names, email addresses, and organizational role labels were reportedly accessed.

Lido Earn depositors receive two layers of loss protection: Firelight absorbs eligible losses first during each cycle, up to 5.7% of EarnETH TVL and 8% of EarnUSD TVL. Any remaining losses are covered by Lido DAO by burning shares of the initial deposits: $3 million for EarnETH and $2 million for EarnUSD. No action is required from depositors.

Abstract: Lido Earn depositors now enjoy automatic, two-layer loss protections. Firelight covers eligible losses first within each 30-day cycle (up to 5.7% of EarnETH TVL and 8% of EarnUSD TVL), followed by Lido DAO covering the remainder by burning shares of the initial deposits (EarnETH $3M, EarnUSD $2M).

Indosuez Wealth Management notes that market pricing for the Fed and ECB rate paths remains significantly hawkish. Growth is expected to remain resilient and inflation to gradually decline, limiting the central banks’ scope for further tightening. Analysts say enough data showing moderate inflation and growth must accumulate before this scenario can become a reality; in the meantime, bond markets will remain volatile. Money markets expect the Fed to raise rates about 1.5 more times and the ECB about twice over the next 12 months.

Indosuez Wealth Management argues that market pricing for Fed and ECB rate paths remains hawkish relative to their baseline scenario. The strategists expect growth to stay resilient and inflation to gradually normalize, which would limit additional tightening. They caution that it will take time to accumulate enough mild inflation and growth data to make this scenario feasible, during which bond markets are likely to stay volatile. Market pricing currently implies roughly 1.5 more Fed hikes and two ECB hikes over the next 12 months.

ME News reports that on November 6 (UTC+8), U.S. tech stocks came under heavy selling pressure overnight. The Nasdaq Composite Index (IXIC) plunged more than 5% on Thursday, closing more than 11% below its record high set last month and officially entering correction territory. Historical data shows that markets may remain under pressure in the short term after a correction begins, but in most cases, the Nasdaq has gradually regained its upward momentum afterward.

Over the past decade, the Nasdaq has experienced 10 similar corrections. Several sell-offs in 2025, 2022, 2020, and 2018 saw further selling within a month of the corrections. However, except for 2022, the Nasdaq had resumed its upward trend six months later in each of these periods.

Overall, the Nasdaq rose an average of 9.41% within three months of hitting a correction low and an average of 17 within six months.

ME News reports that on November 6 (UTC+8), the U.S. will release its October nonfarm payrolls report at 9:30 p.m. Beijing time on Friday. As major tech stocks such as Nvidia (NVDA.O) have recently pulled back and risk aversion has intensified, investors are turning their full attention to the report. A key indicator of economic momentum, this month’s data is expected to show the typical pattern of “weak job growth but stability overall.”

According to consensus estimates from major market institutions, nonfarm payrolls are expected to increase by about 59,000 to 65,000 in October. Although this would be a slight rebound from the preliminary increase of 29,000 in September, it would still be unusually low by the standards of recent years. The CME FedWatch Tool shows that traders’ expectations for the probability of another rate hike in December have fallen to 69.1% from 82.7% the previous day. Unless tonight’s nonfarm payrolls report contains a major surprise, the labor market’s fragile balance will still serve as a

ME News reported on November 6 (UTC+8) that the Democrats’ decisive election victory has led markets to expect the U.S. may tighten regulation of the artificial intelligence (AI) industry and data center construction. However, Michael Clowett, an economist and portfolio manager at ICM Investment Bank, said in a report that a real shift in the direction of U.S. AI policy appears unlikely. As a result, hyperscalers are expected to stick with their current investment plans for now.

Clowett noted that hyperscalers are an important source of long-duration bond supply. This issuance trend has made U.S. tech giants a distinct group of issuers in the investment-grade bond market over the past two years. For this group, the traditional market correlation between credit ratings and bond spreads applies only to a limited extent. (Source: ODAILY)

ME News, November 6 (UTC+8) — Institutional forecasts for U.S. October seasonally adjusted nonfarm payrolls:

1. ABN AMRO: +35,000; Jefferies: +40,000; Mizuho Securities: +40,000; TD Securities: +40,000; Sparta Securities: +48,000;
2. High Frequency Economics: +49,000; Barclays: +50,000; Julius Baer: +50,000; Moody’s: +50,000; U.S. Bancorp: +50,000;
3. Deutsche Bank: +55,000; Monex: +55,000; Bank of Montreal: +60,000; Commerzbank: +60,000; HSBC Holdings: +60,000;
4. Morgan Stanley: +60,000; Stifel: +60,000; Sumitomo Mitsui: +63,000; Citigroup: +65,000.

ME News reported on November 6 (UTC+8) that the Federal Reserve kept its federal funds rate target range unchanged at 3.75%-4.00% last week, while acknowledging that inflation remains elevated. The market generally expects the Fed may raise rates further in December.

Investment analyst Michael Kramer believes that if the October jobs report is broadly in line with expectations and the unemployment rate does not rise significantly, the market’s view of the Fed’s policy path may not change substantially. However, if job growth significantly exceeds forecasts, the unemployment rate falls, and wage growth remains strong, investors may begin to reassess how many more times the Fed needs to raise rates and whether the market’s current view of where the rate-hiking cycle will end is sound.

MarketWatch statistics show that since January 2025, nonfarm payrolls data have already…