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Galaxy Research Director Alex Thorn stated that after the Democratic Party won both houses of the U.S. Congress, significant progress in key digital asset legislation is still expected to be difficult, and the leadership of congressional committees will also change. He mentioned that Elizabeth Warren may become the chair of the Senate Banking Committee, while Maxine Waters is expected to regain control of the House Financial Services Committee.Several Republican lawmakers who support the crypto industry were defeated, but the pro-crypto camp did not suffer a complete loss. According to Stand With Crypto, 19 pro-crypto senators and 226 pro-crypto representatives have been elected. Tracking by Molly White shows that in 12 highly competitive elections, the side supported by crypto and AI political action committees lost 9, but won all in the safer 40 elections.Reports indicate that House Democrats are discussing expanding Waters' previously proposed "Crypto Investor Consumer Rights Act" into a broader crypto market structure bill. Thorn reiterated that no substantial progress is expected in Congress on key digital asset legislation. In the absence of legislation, the SEC, CFTC, and banking regulators have clarified crypto rules within their existing statutory authority, and the Trump administration still has two years to continue advancing related work.

Aave Labs has acquired the team and technology of Avon to advance fixed-rate lending business. The acquisition includes Avon's fixed-rate and floating-rate lending protocols, on-chain order book, domain name, and related assets, with the financial terms of the transaction undisclosed.According to the agreement, Prince Sinha and Ayush Kaul will join the Aave Labs engineering team, while Omar el-Ashaal will join the business development team. The Avon team will initially focus on fixed-rate lending to help Aave expand the types of loans available to users. Avon's previous research and development also involved interest rate pricing, risk isolation, and lending market design.Aave Labs CEO Stani Kulechov stated that fixed rates are one of the products users have already used in traditional finance, and the Avon team will help Aave serve global institutions, fintech companies, and ordinary users. Aave claims that its network currently has a deposit size of over $30 billion and outstanding loans of over $12 billion.

The U.S. Treasury and the Federal Reserve have withdrawn a previously proposed rule draft that aimed to lower the threshold for the "Travel Rule" regarding cross-border fund transfers from $3,000 to $250. After the withdrawal, the $3,000 threshold continues to apply, including for eligible cryptocurrency transfers under current FinCEN guidelines.The proposal was jointly issued by FinCEN and the Federal Reserve in 2020 and applies to fund transfers and remittances that originate or terminate outside the United States, while the domestic transaction threshold remains unchanged at $3,000. The proposal also clarifies that the relevant rules apply to convertible virtual currency transactions and digital assets with legal tender status, and requires financial institutions to collect, retain, and transmit specific transaction information as mandated.

According to The Information, at the request of Nvidia (NVDA.O), TSMC (TSM.N) is considering producing 3D DRAM.

The monthly non-farm payroll data in the United States is quite volatile, and economists remind us not to overinterpret a single month's report. However, the employment data for October performed strongly, with data from previous months revised upward, indicating that the recent trend in job growth has significantly improved.Over the past three months, employers added an average of 137,000 jobs per month, while the average for the previous three months was only 51,000 jobs.

According to Lookonchain monitoring, after being silent for more than a year, a certain whale has continuously bought BTC, accumulating a total of 3009 BTC today, worth approximately 228 million dollars.

According to reports from multiple media outlets including Decrypt, the U.S. Attorney's Office for the Eastern District of Virginia stated that former FBI agent Patrick Steven Yaroch pleaded guilty on November 5 in federal court in Alexandria to charges of telecommunications fraud and money laundering.He used stolen credentials to conduct approximately 100 fraudulent transfers from 35 cryptocurrency wallets involved in FBI investigations, stealing about $2.47 million in cryptocurrency assets, and concealed the source of the funds through methods such as exchanging tokens. Some of the funds were used to pay off debts such as credit cards and auto loans. Yaroch faces a maximum of 20 years in prison, with sentencing scheduled for March 4, 2027. Previous reports indicated that the amount involved was approximately $1 million.

According to the SEC documents submitted by Strive (Nasdaq: ASST), the company's revenue for the third quarter of 2026 was $2.696 million, a year-on-year increase of 74.7%; the net profit was $509 million, compared to a loss of approximately $207 million in the same period last year. This quarter's profit was mainly driven by approximately $534 million in unrealized gains from Bitcoin.In the third quarter, Strive purchased 8,136 BTC at an average price of $78,885 per coin. As of September 30, the company held 28,000 BTC, with a fair value of approximately $2.34 billion.During the quarter, the company raised approximately $783 million through the issuance of common and preferred stock, and completed another preferred stock issuance in October, netting approximately $609 million.

According to the Russian news agency TASS, the Central Bank of Russia has identified a list of cryptocurrencies that can be opened to non-qualified investors, including Bitcoin (BTC), Ethereum (ETH), and Tether (USDT).

According to blockchain analysis company Elliptic, as of November 6 at 16:45 Beijing time, approximately 1,650 BTC (about 124 million USD) related to the Binance theft incident has entered new Bitcoin addresses, nearly double that of the previous day. The newly added portion mainly comes from exchanging XRP for Bitcoin through THORChain: hackers transferred 233 million XRP into 6 new addresses on November 2, of which about 42 million (approximately 50 million USD) has been withdrawn, leaving about 192 million (approximately 226 million USD). In addition, a small amount of ETH was also exchanged for Bitcoin through THORChain on the evening of November 5.

Elon Musk stated that Tesla plans to gradually reduce Cybertruck production at its Texas factory starting in mid-2027 to expand the production of Cybercab.Tesla began producing Cybertruck at its Austin factory in 2023, but market demand has been poor. Tesla has been producing the golden two-seater Cybercab at the Austin factory as an important part of its transformation plan.

According to the 8-K filing submitted by the Nasdaq-listed HYPE Financial Company Hyperliquid Strategies (PURR), the company raised $911 million in the third quarter through a committed equity financing tool and purchased approximately 9.1 million HYPE for about $785 million. The HYPE holdings increased from 29.3 million shares on June 30 to 38.5 million shares on September 30; additionally, the company repurchased approximately 2.7 million shares of PURR stock for $17 million. Based on the approximately 238 million HYPE circulating supply disclosed by the company (as of October 29), its holdings account for about 16% of the HYPE circulating supply. As of the end of the quarter, the company held $254.6 million in cash and cash equivalents, with no debt.

According to The Defiant, on-chain analytics company Elliptic stated that the Binance hacker has begun to exchange the stolen XRP, with approximately 50 million dollars' worth of XRP mostly converted to Bitcoin through THORChain. As of November 6, 16:45 Beijing time, about 226 million dollars' worth of XRP has not yet been transferred.Elliptic reported that the Bitcoin obtained from exchanging other stolen assets has reached about 1,650 coins, valued at approximately 124 million dollars, nearly doubling from the previous day, with the increase mainly coming from XRP exchanges. This portion is separate from the directly stolen 18,270 BTC, which, along with the main ETH holdings, has not yet been transferred.

According to on-chain analyst Yu Jin's monitoring, the meme launch platform Pump.fun transferred 76,111 SOL in transaction fee income to the exchange Kraken half an hour ago, worth approximately 6.85 million USD.Since the beginning of 2024, Pump.fun has accumulated a total of approximately 5.627 million SOL in transaction fee income, with an average price of about 158.7 USD.

According to official news from Bitget, the Bitget ecosystem tokenized U.S. stock protocol Reality has reached a strategic cooperation with the DeFi reward infrastructure Merkl. Both parties will use Merkl's reward forwarding function to identify the actual holders of rToken deployed in supported DeFi protocols. Users can still receive dividends in stablecoin form according to the rules, even if they use rToken for lending, liquidity pools, or staking in DeFi scenarios.Pablo Veyrat, CEO and co-founder of Merkl, stated that one major challenge facing DeFi assets is how to identify the actual holders behind each position. Merkl's reward forwarding technology can penetrate multiple layers of nested smart contracts to identify the underlying asset holding relationships, ensuring that dividends are accurately distributed to eligible holders.Gracy Chen, CEO of Bitget, stated that the value of tokenized stocks should not be limited to trading. Even if users invest rToken into DeFi applications, they should still be able to continue receiving eligible dividends. This cooperation with Merkl will jointly solve this problem, allowing tokenized stocks to play a greater role in everyday financial applications.According to a report from DeFiLlama, the cumulative trading volume of rToken reached $1.16 billion from June to July 2026; in July 2026, the number of users trading both crypto assets and rToken increased by 23.54% month-over-month. This cooperation will further promote the extension of rToken from trading scenarios to the DeFi ecosystem, enriching the on-chain application scenarios of tokenized stocks.

According to a report by the Russian news agency TASS, the Russian Investigative Committee has proposed further incorporating cryptocurrency assets into the anti-money laundering regulatory system and strengthening the tracking of cryptocurrency transactions. At the meeting of the United Nations Convention against Corruption's Intergovernmental Working Group on Asset Recovery held in Vienna, Austria, the committee representative Anna Starzhinskaya stated that investigators can currently track cryptocurrency transactions through a dedicated system of the Federal Financial Monitoring Service of the Russian Federation (Rosfinmonitoring) and obtain important evidence for criminal investigations.The Russian Investigative Committee also emphasized the importance of cross-border crime investigations and international judicial cooperation. The agency disclosed that by 2026, it had jointly seized and confiscated corruption-related assets worth over $486 million in collaboration with financial intelligence and law enforcement agencies, and had made approximately 2,500 information inquiries to financial monitoring departments in criminal cases.

Global technology stocks continue to decline, pushing the hedge fund industry into a new round of adjustments. As artificial intelligence-related trades have significantly reversed, the global tech stock sell-off has severely impacted hedge funds, with some strategies seeing nearly zero returns this year. Several large funds have begun to reduce leverage and cut investment teams, raising market concerns that concentrated liquidations will further amplify volatility.Goldman Sachs data shows that stock long-short strategy funds primarily investing in tech stocks lost more than 4% in a single day on Thursday, bringing the year-to-date return of such strategies close to zero. In June of this year, the cumulative return of these funds once reached as high as 24%.This loss is not limited to tech investment strategies. Goldman Sachs data indicates that global fundamental stock long-short strategy funds averaged a decline of 1.3% on Thursday, while multi-strategy funds fell by 1.4%, reflecting that the selling pressure is spreading to broader investment portfolios.

Binance stated that the latest proof of reserves zero-knowledge proof has been generated, and users can verify their account balances to obtain at least 1:1 asset backing.