Trump Media transfers 4,259 BTC worth $344 million to Crypto.com

Odaily Report: Although the US Democratic Party swept Congress, the crypto industry did not suffer a complete defeat in the midterm elections. Stand With Crypto, an advocacy group backed in part by Coinbase, said the pro-crypto camp has won 228 seats in the House and 19 seats in the Senate. Fairshake, the crypto industry's largest super PAC, also said it will continue to support pro-crypto candidates in the 2028 elections. Notably, although Ripple remains one of Fairshake's major donors, Ripple co-founder Chris Larsen this time also donated $4 million to the campaign of former Senator Sherrod Brown, who has repeatedly criticized the crypto industry.Separately, according to data from the US consumer advocacy group Public Citizen, as of the first quarter of 2026, the crypto industry had invested about $189 million in political action committees during this midterm election cycle, up from $119 million in the 2024 election cycle. In addition, a super PAC focused on the AI industry also invested $72.3 million. (Bloomberg)

Odaily reports: Hong Kong Exchanges and Clearing Limited (HKEX) has released its quarterly results report for the nine months ended September 30, 2026, disclosing that its range of exchange-traded products continued to expand, with 25 new products listed during the quarter, a record high for any quarter, including the launch of the first multi-asset actively managed ETF investing in both gold futures and physical Bitcoin. However, HKEX's overall results unexpectedly declined, ending a streak of multiple consecutive quarters of record-high results driven by a wave of technology and AI company listings, with net profit falling 1% year-on-year to HK$4.9 billion, below the average analyst estimate of HK$5.03 billion; core business revenue was essentially flat at HK$7.47 billion.HKEX Chief Executive Officer Chan Yiting said that amid rising macroeconomic uncertainty and continued market volatility, the exchange will remain firmly committed to building a deeper and more diversified multi-asset ecosystem.

1. Viewpoint: AI stock plunge stems from market confusion between technological prospects and investment returns;2. US Democrats plan to pressure Trump on five fronts: covering crypto, AI regulation, Iran policy, and more;3. Trump: Will soon decide whether to take military action against Iran again; Russia-Ukraine peace deal may be imminent;4. Early ICO whale buys 2,221 ETH, on-chain holdings exceed 122,000;5. Quant giant Hudson River Trading enters Kalshi for trading, Wall Street capital accelerates positioning in prediction markets;6. Brave New World? US Democratic congressman calls for pause on advanced AI development, Musk appears to respond with sarcasm, tensions between the two sides may escalate;7. Tom Lee slams AI panic narrative: The actual situation is far less dire than imagined, pessimistic expectations are overstated.

Odaily reports: Galaxy CEO Mike Novogratz posted on X that the "blue wave" in the U.S. midterm elections has put pressure on the company, but political factors should not be conflated with long-term fundamentals.Novogratz believes that financial activity is gradually migrating on-chain, and AI demand is also growing rapidly—trends that will span different government terms and market cycles. Galaxy will continue to work with the new administration, focusing on reliable power supply, water resource conservation, and community development.Additionally, Novogratz stated that there is currently a significant disconnect between GLXY's stock price and the company's actual value, and therefore has decided to increase holdings of Galaxy stock effective immediately.

According to Onchain Lens monitoring, a whale that had been dormant for a year withdrew 643 BTC, worth approximately $48.58 million, from Binance again just minutes ago. Over the past 24 hours, the whale has withdrawn a total of 1,286 BTC, worth approximately $98.11 million.

Odaily reports: David Allen, head of long-short strategy at Plato Investment Management, said the root cause of Thursday's market sell-off lies in investors conflating AI's transformative potential with whether related investments can deliver returns. The Nasdaq 100 index plunged as investors rushed to sell off US tech stocks amid speculation that congressional Democrats will tighten regulation of the AI industry. "There has been an existential race among the large hyperscalers. The midterm election results effectively provided the spark for a significant market downturn," Allen said. Vihari Ross, portfolio manager at Antipodes Partners, said the sell-off reflects not so much structural problems among AI companies as the market beginning to reassess the realistic conditions for the next phase of related investment. "Achieving the goals requires massive debt—which means the cost of capital is crucial, and interest rate levels are crucial; moreover, it also depends on whether sufficient electricity supply can be secured and whether market demand can remain at current levels," she said. "Assuming all companies can achieve perfect results is probably not a wise approach."