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Thu 5 Nov
Nasdaq falls 3% as US memory stocks extend losses
The Nasdaq's decline widened to 3% as US memory stocks fell further, with SanDisk down 11.00%, Western Digital 9.44%, Seagate 9.99%, SK Hynix 7.93% and Micron 7.03%.
Bitcoin slips below $78,000, down 1.91% in 24 hours
Bitcoin fell below $78,000 and last traded at $77,981.9, a 24-hour decline of 1.91%, OKX market data showed.
$234m of crypto futures liquidated in an hour, $826m over 24 hours
Major exchanges recorded $234m of futures liquidations in the past hour, with $826m liquidated over the past 24 hours.
Optical communications stocks extend losses, AAOI and AXTI down over 10%
US optical communications shares fell in early trading, with Applied Optoelectronics down 12.01%, AXT down 14.18%, Ciena down 10.85% and Lumentum down 10.34%.
Fed and OCC ask US banks about cyber risks after Binance hack
The Federal Reserve and the OCC began contacting US banks on 2 November to ask whether they had seen suspicious activity, outages or cyber vulnerabilities after a hack at Binance. Several large banks started internal reviews of their defences.
Previous related news
- Binance hack prompts crypto industry to weigh Wall Street-style controls
- South Korea says no sanctions talks yet over North Korea's alleged Binance theft
- CZ says AI speeds up cyberattacks faster than banks can strengthen defences
Derek Thompson says anti-AI politics may help the industry absorb its bubble
Tech author Derek Thompson argues that growing anti-AI politics in the US, including pledges to pause or tighten data centre approvals after midterm wins, may weigh on AI stocks short term but help the industry avoid a bubble over the longer run.
$128m of crypto futures liquidated in the past hour
Major exchanges saw $128m of futures liquidated in the past hour, with $819m liquidated over the past 24 hours.
Plante Moran Advisors raises spot Bitcoin ETF holdings 70% to $42m in Q3
Plante Moran Advisors lifted its spot Bitcoin ETF holdings about 70% quarter on quarter to $42m in the third quarter, via BlackRock's IBIT, Grayscale's GBTC and Fidelity's FBTC. The firm oversees about $2.2bn.
Samsung Electronics falls 10.9% in 24 hours to $145.85
Samsung Electronics fell 10.9% over 24 hours and was trading at $145.85, according to Gate data.
Crypto liquidations top $105m in an hour, with $23.1m in Bitcoin
CoinGlass data show $105m of crypto positions were liquidated in the past hour, including $97.6m in longs and $7.41m in shorts, with $23.1m in Bitcoin and $11.9m in ether.
How losses are allocated when DeFi products fail
A research piece examines how losses reach holders of onchain products, asking how much of their claim is lost when an underlying component fails, how long the remainder takes to recover and which holders ultimately bear the loss.
CLARITY Act may stall until 2028 as Democrats sweep US Congress
A Democratic midterm win, with Sherrod Brown back in the Senate and Elizabeth Warren still influential, may push Congress to scrutinise Trump's crypto ties rather than pass the CLARITY Act. Sharplink CEO Joseph Chalom expects the bill to stall until 2028, while TD Cowen's Jaret Seiberg sees no progress for two years; Circle says stablecoins and tokenised stocks can still advance through existing rules.
AMD shares fall 10.12% intraday to $440.77
AMD stock fell 10.12% intraday and was trading at $440.77, Binance market data showed.
AppLovin shares rise 26.18% intraday to $342.07
AppLovin (APP) shares rose 26.18% intraday and were trading at $342.07, according to Binance market data.
Kalshi develops specialised prediction contracts for institutional investors
Kalshi is developing specialised prediction contracts across financial sectors to draw large funds and corporate clients, including products letting investors trade the outcome of legal disputes and settlement odds. Kalshi did not disclose a launch timeline, trading structure or how regulations would apply.
IMPBlock agrees in principle to $964m US Justice Department settlement over Cash App AML failings
Block has agreed in principle to a $964m settlement with the US Justice Department over anti-money-laundering shortcomings at Cash App. Prosecutors will hold Bank Secrecy Act charges for three years and seek to drop them if Block meets its obligations.
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