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AMZN $240.81 -0.11%
GOOGL $284.02 +0.83%
MSFT $524.75 +0.03%
META $614.78 -0.02%
NVDA $204.75 +0.01%
TSLA $399.73 -0.01%
SNDK $1,153.66 -0.47%
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Next week's macro outlook: The U.S. midterm elections and non-farm payrolls will be the focus, Apple and AMD will release their earnings reports

From November 2 to 8, global markets will welcome several events. The U.S. midterm elections, Apple and AMD earnings reports, and October non-farm payroll data will become the focus of market attention. The Bank of England, the Reserve Bank of Australia interest rate decisions, the results of the Israeli parliamentary elections, and the progress of the trilateral negotiations among Russia, the U.S., and Ukraine will also be closely watched. In the tech sector, Apple and AMD will release their latest earnings reports, serving as an important test after the confidence in AI trading has been impacted. Apple is expected to report revenues of about $113 billion, marking the first earnings report since the appointment of new CEO Tim Cook; AMD is expected to report revenues of about $13 billion, with attention on the progress of Helios cabinets and MI450 chips.Additionally, Qualcomm, Advanced Micro Devices, Coherent, Lumentum, and Berkshire Hathaway will also announce their performance. There are also reports that Marvell is negotiating to acquire Lumentum, with an announcement possible as soon as next week. Apple's smart access testing plan with Alibaba Qianwen will open on November 4. On November 3, the U.S. midterm elections will re-elect all 435 seats in the House of Representatives and 35 seats in the Senate, and the election results will affect the fiscal, tariff, and industrial policy advancement space of the Trump administration in the next two years.The final results of the Israeli parliamentary elections are expected to be announced on November 4, and the trilateral negotiations among Russia, the U.S., and Ukraine are scheduled to resume next week in Abu Dhabi. In terms of macro data, the U.S. October non-farm payroll report will be released, following a mere 29,000 new jobs added in September, with the market expecting an increase of 65,000 jobs in October. If the employment data performs strongly, it may further strengthen market expectations for a Federal Reserve rate hike in December and impact the U.S. dollar, U.S. Treasury bonds, and gold prices. China's October foreign exchange reserve data will also be released.

Data: In October, the cryptocurrency market financing was approximately 1.954 billion USD, a month-on-month increase of 83.5%, with Kalshi accounting for over 50% of a single transaction

According to RootData statistics, there were a total of 53 financing events disclosed in the crypto primary market in October, with a total disclosed financing amount of approximately $1.954 billion, an increase of 83.5% compared to September's $1.065 billion, and a decrease of 45.3% compared to $3.573 billion in October last year; the number of financing events increased by 12.8% compared to 47 in September, and decreased by 32.1% compared to 78 in the same period last year.From the perspective of sector distribution, DeFi and infrastructure each completed 17 financing events, with disclosed amounts of approximately $1.157 billion and $348 million, respectively; CeFi completed 9 financing events with a disclosed amount of approximately $343 million. Prediction markets, AI infrastructure, payment, and institutional financial services are the main directions for large financing this month.The top three projects by financing amount are Kalshi ($1 billion), Whop ($200 million), and Pearl ($130 million), while Nous Research and Spiko disclosed financing of $90 million each. The top five projects totaled approximately $1.510 billion, accounting for 77.3% of the total disclosed financing this month, with Kalshi alone accounting for about 51.2%.In terms of RWA, according to project tags, there were 6 RWA-related projects that disclosed financing this month, totaling approximately $12.2 million, accounting for 11.3% of the month's financing events and 6.3% of the disclosed amount. Among them, Spiko completed a $90 million Series B financing, while Fission and Multiliquid disclosed financing of $10 million and $8 million, respectively.In terms of mergers and acquisitions, there were 11 recorded M&A events this month, the same as in September, with transaction amounts undisclosed, including projects like BTCBOX, Zodia Custody, Zeal, and Z.com EX.Regarding investment institutions, Tether participated in 4 financing events, while Sequoia Capital, Pantera Capital, and North Island Ventures each participated in 3 events, and Blockchain Capital, Coinbase Ventures, and others also made multiple investments.

OnKey founder: The iPhone 11 and earlier models have hardware vulnerabilities that cannot be fixed through system updates, and it is not recommended to use them for storing mnemonic phrases

OnKey founder Yishi posted on platform X to remind users that using older iPhone models as cold wallets for cryptocurrency assets may pose security risks. The checkm8 vulnerability exists in the BootROM of iPhone 4S to iPhone X, and the usbliter8 vulnerability, which was disclosed in June this year, affects iPhone XS, XR, 11 series, and second-generation SE, all involving the device's low-level boot code, which cannot be fixed through iOS system updates. Once an attacker gains physical access to the device, they can execute code via the USB interface before iOS boots, and turning on airplane mode cannot prevent such attacks.Yishi advises that iPhone 11 and earlier models are not recommended for storing mnemonic phrases. Users who have used such devices to save mnemonic phrases should generate a brand new mnemonic phrase in a trusted environment and migrate their assets, rather than just changing the wallet address under the original mnemonic phrase. Additionally, users should promptly update their systems, use more complex device and wallet passwords, avoid charging through public USB interfaces, and be vigilant about potential physical attacks during periods when the device is out of their control for extended periods.Previously, OneKey founder Yishi had posted on platform X suggesting users use iPhones as cold wallets, but only recommended using iPhone 17 or newer models.

Strive CEO: After the theft at Binance, Bitcoin performed better than expected, but it cannot be confirmed that the market has bottomed out

According to Cointelegraph, Strive CEO Matt Cole stated that the approximately $6.3 billion theft from Binance has not changed his long-term investment judgment on Bitcoin. Considering the scale of the attack and the overall market weakness, the decline in Bitcoin's price was less than he expected, but it is still too early to determine whether the price has bottomed out. Currently, the price of Bitcoin is about $77,400, down about 4% from before the attack began on Thursday. Strive previously disclosed that as of October 23, it held 43,000 BTC.Cole compared this wallet attack to a bank robbery, rather than a failure of the Bitcoin network. Paul Chapman, the financial crime chief at Wirex, also emphasized that the attack targeted a company's system, not the Bitcoin network itself.Regarding future trends, Cole believes the market is in an "early spring" recovery phase, which may last another 6 to 9 months, with prices gradually rising rather than rapidly hitting new highs. He stated that this incident would not change his investment logic regarding Bitcoin over any reasonable time span.In terms of historical market reactions, after Bybit was attacked for $1.5 billion in 2025, combined with overall market volatility, Bitcoin fell from nearly $100,000 to about $95,000, a decline of about 5%. Additionally, according to CNBC citing Anchorage Digital data, in the past, after cryptocurrency trading platforms were attacked, Bitcoin's average decline in the first 24 hours was 8.3%.The investigation into the attack is still ongoing. Blockaid CEO Ido Ben-Natan believes that the attackers may have exploited Binance's trading signature process, as his analysis found a transaction containing 50 signature authorizations, with matching authorizations allowing the code controlled by the attackers to execute through the wallet. Binance stated that as of Friday, no evidence of wallet private key leakage had been found.
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