Weekly News Recap | Oct 31 – Nov 6 📰 Markets spent the week repricing risk across rates, tech and crypto. 🇺🇸 Jobs Surprise U.S. payrolls rose 165,000 in October versus 65,000 expected, while unemployment fell to 4.1%. September was also revised up to 60,000 jobs from 29,000. 📉 Tech Rout The Nasdaq fell 5.5% in one session, wiping roughly $2.5T from its market value as the AI trade unwound. The S&P 500 lost about $3T, while Asia followed sharply lower. ₿ Crypto Deleverages $BTC dropped below $76,000, while more than $1.2B in leveraged crypto positions were liquidated, mostly longs. U.S. spot Bitcoin ETFs recorded another $430M in net outflows. 🏦 Bank Cyber Heist Hackers stole around €100M from Crédit Mutuel Arkéa through fraudulent transactions using the bank's own account. Customer funds were unaffected, and French cybercrime police opened an investigation. 🟢 H200 Bottleneck Around 600,000 $NVDA H200 chips are sitting in Hong Kong as Beijing withholds approval for large-scale imports into mainland China. Major Chinese tech firms have received only limited shipments. 💵 USDC Goes Mobile Samsung Wallet added $USDC on Solana for eligible U.S. Galaxy users, reaching roughly 82M compatible devices. Users can buy, hold and transfer stablecoins without a separate crypto app. 🛡 NU7 Live $ZEC activated NU7, cutting target block time from 75 to 25 seconds and increasing private-payment capacity. The upgrade also retired the Sprout pool, leaving about 12,224 ZEC temporarily unspendable. ⚖️ Block DOJ Deal Block $XYZ reached a preliminary DOJ settlement over alleged AML failures, with an expected net payment of about $764M. Cash App gross profit still rose 27% YoY, sending shares higher after earnings. 🇭🇰 Crypto Reporting Hong Kong passed new crypto tax-reporting rules, with providers collecting transaction data from 2027 and international exchanges beginning in 2028. The framework covers trades, swaps and transfers involving external wallets. 🤖 China Blocks Deal China blocked SoftBank's $5.4B acquisition of ABB's robotics division, citing concerns around sensitive technology and data. It is Beijing's second major intervention in a foreign frontier-tech deal this year.