Author: Shenchao TechFlow
Yesterday's Market Dynamics
Solana Company has been selected as a key enterprise in Hong Kong's seventh batch and plans to deploy local validation nodes.
On October 22, the Hong Kong Special Administrative Region Government’s Office for Attracting Strategic Enterprises held the signing ceremony for its seventh batch of strategic enterprises, with 18 companies set to establish or expand their operations in Hong Kong, including Solana Company (NASDAQ: HSDT), a digital assets treasury and infrastructure company listed on the U.S. stock market.
Solana Company confirmed in an official announcement that it has established its Asia-Pacific headquarters in Hong Kong and plans to deploy Solana validator nodes locally through the Pacific Backbone project, providing blockchain infrastructure and consulting services to financial institutions across the Asia-Pacific region.
Musk says X will add a long-press like and tip feature, allowing users to send $1 via X Money.
Musk posted that X will add a "long-press like" feature, allowing users to send $1 to other users via X Money.
Keystone's official website was accessed without authorization, resulting in the leakage of customer delivery information and order details.
Hardware wallet provider Keystone announced that its official website was accessed without authorization on October 20. After reviewing Shopify API activity on October 23, the company confirmed that a third party obtained customers’ names, contact information, shipping addresses, and order details, including purchased items and prices.
Keystone stated that this incident did not involve bank cards, bank account information, seed phrases, private keys, or wallet passwords. The company has blocked unauthorized access, patched the related vulnerabilities, and initiated an investigation, and is currently notifying affected customers via email.
Keystone reminds users to be cautious of scams impersonating official personnel, particularly suspicious messages claiming to offer refunds, replacement devices, or fixes for order and address issues.
Samsung Electronics and SK Hynix will release their third-quarter earnings next week, with AI storage demand under scrutiny.
South Korean chipmakers Samsung Electronics and SK Hynix will announce their third-quarter earnings next week, with strong demand for AI storage chips expected to drive substantial profits for both companies.
Specifically, SK Hynix plans to release its earnings report next Wednesday, while Samsung Electronics will announce its results next Thursday.
Next Thursday: Central bank decisions from the four major central banks, along with the release of U.S. GDP and PCE data.
According to Jin10 Data, next week the global market will enter a busy event window, with four central banks announcing interest rate decisions, followed by the release of U.S. third-quarter GDP and September PCE data.
U.S. tech giants are also set to face a major earnings test. Jinshi Data says that each trading day next week could leave global investors breathless, as they watch to see if gold can make a comeback.
Tether has frozen 9 addresses linked to the CoinDCX security incident, involving 2.2129 million USDT.
According to Salus monitoring, Tether has blacklisted nine addresses related to the CoinDCX security incident and frozen 2,212,850.3 USDT.
The investigation began when investigator Darcy discovered an unusual transfer of approximately 15.99 million USDT. Initially, CoinDCX co-founder Sumit Gupta stated that the platform had not suffered a security breach. Subsequently, Salus raised questions based on fund movements from the "Proof of Reserves" address and the TRX distribution pattern.
Related concerns prompted responses from various parties, providing Tether with verifiable on-chain evidence that ultimately led to the implementation of freezing measures.
Big Brother Ma Ji re-entered the market this morning after all his long positions on Ethereum were liquidated; his current position consists of only 115 ETH.
On-chain data shows that due to a sharp decline in the crypto market last night, Ma Ji Da Ge Huang Licheng’s 25x Ethereum long position was fully liquidated this morning, resulting in a net loss of over $180,000. However, Ma Ji Da Ge re-entered the market with a new long position and made a small additional entry; his current position holds only 115 ETH, valued at approximately $269,000, with a liquidation price of $2,316.
Solana co-founder proposes a staking-weighted oracle concept to explore pricing mechanisms for tokenized asset collateral.
Solana co-founder Anatoly Yakovenko (Toly) proposed an idea on X, suggesting the use of Solana validators to build a native oracle that assigns price judgment weights based on the amount of SOL staked by each validator, enabling price evaluation for tokenized assets and supporting their use as collateral.
Under this proposal, profits generated by the mechanism could be taxed to increase revenue for the Solana network. If implemented in the future, this solution could serve as a native alternative to Solana’s existing oracle network.
However, this concept is still in the conceptual stage and is not a formal governance proposal; there is no established timeline for implementation or governance voting schedule. The proposed mechanism also involves supply changes due to SOL minting, as well as potential conflicts of interest and risks of price manipulation arising from validators' participation in collateral pricing.
Trader Killa: BTC has retraced approximately 9%; recommends continuing dollar-cost averaging over the coming weeks.
Trader Killa posted that the market is currently anticipating Bitcoin to retest its previous extreme low, but the "liquidation lower shadow" at that time occurred amid a confluence of negative catalysts. Unless more negative news emerges, it should not be assumed that Bitcoin will inevitably retrace to its prior low, as historical price action may not simply repeat itself.
Killa further noted that buyers in the fourth quarter still appear to be waiting for lower entry prices and recommended that investors continue buying BTC through dollar-cost averaging (DCA) over the coming weeks.
Killa stated that Bitcoin has currently retraced by approximately 9%, which he considers a healthy pullback within a bull market.
Today's Market Conditions
Recommended Reading
Bithumb sues South Korean regulators: Half-year suspension imposed over 45,000 small transfers; boundary of Travel Rule enforcement becomes point of contention.
https://www.techflowpost.com/article/34833
The South Korean cryptocurrency exchange Bithumb has sued the Financial Intelligence Unit (FIU) over a six-month partial suspension penalty. The dispute centers on 45,772 transfers made over three years to 18 unregistered overseas crypto entities. Bithumb argues that all involved transactions were below 1 million KRW, falling below the statutory threshold for the Travel Rule’s application, and that regulators should not use institutional gaps in rule enforcement as grounds for penalties. The case also brings into focus the exchange’s anti-money laundering obligations, its ability to identify on-chain addresses, and the boundaries of administrative penalties.
How did BTC perform after the four historical midterm elections?
https://www.techflowpost.com/article/34832
This article reviews BTC’s price performance following the past four U.S. midterm elections, demonstrating that the notion of “BTC always drops after midterm elections” is unfounded. Data shows that BTC rose 31.6% in the 30 days following the 2010 election, but fell 45.5% in the month after the 2018 election. However, over a one-year horizon, BTC posted positive returns after all four elections, with gains ranging from 23% in 2014 to 1,580% in 2010. The article suggests that policy uncertainty surrounding midterm elections may intensify short-term volatility and lead to liquidations among highly leveraged investors and reallocation of positions, but BTC’s long-term performance remains driven by multiple factors such as macro liquidity and market cycles. Historical data does not guarantee future results, and four data points are insufficient to conclude that BTC always rises after elections.
Who is buying the bloodied chips? On-chain data reveals a surge in whale accumulation after BTC dropped below $81,000.
https://www.techflowpost.com/article/34831
This article notes that although BTC has retreated from around $87,000 to near $81,000 since October, and spot ETFs have seen single-day net outflows exceeding $600 million, on-chain data indicates that large holders are accelerating accumulation during this market pullback. Santiment data shows that wallets holding 10–10,000 BTC have increased their holdings by approximately 85,000 to 89,000 BTC since mid-to-late September; CryptoQuant reports that whale holdings have rebounded to 3.03 million BTC, marking the fastest monthly accumulation rate since February this year. Additionally, 40 new wallets withdrew 9,458 BTC—valued at approximately $770 million—from the market maker Wintermute. However, on-chain accumulation does not guarantee an immediate price rebound; outflows from ETFs, leveraged liquidations, and macroeconomic uncertainty may still exert short-term downward pressure.
Circle shareholders sue Trump and WLFI: allege $2.5 billion transaction linked to the UAE violates the U.S. Constitution's Foreign Emoluments Clause
https://www.techflowpost.com/article/34836
This article focuses on the controversy surrounding Circle shareholders suing Trump and his family’s cryptocurrency project, World Liberty Financial (WLFI). Plaintiff Joel Greenberg alleges that WLFI was involved in two transactions totaling $2.5 billion linked to the UAE: one involving the sale of a 49% stake for $500 million, and another involving a $2 billion investment from a UAE sovereign-backed fund. The lawsuit argues that these transactions may violate the U.S. Constitution’s Foreign Emoluments Clause and grant Trump-linked stablecoin projects an unfair market advantage, harming Circle’s competitive interests as the issuer of USDC. The plaintiff seeks to recover personal gains and disclose foreign funding received. However, the case still faces legal hurdles such as standing, and the allegations have not yet been substantiated by the court. This lawsuit brings together overseas capital in crypto projects, political conflicts of interest, and competition in the stablecoin market onto a single regulatory front.