1. U.S. ADP employment rose by 86,000 in October, above expectations of 69,000

U.S. ADP employment rose by 86,000 in October, above market expectations of 69,000. The previous reading was 90,000. - Original

2. Democrats win U.S. midterm elections, putting pressure on Asian chip stocks

Democrats won the U.S. midterm elections, and several candidates opposed to data center expansion were elected governor, sparking concerns in the market that investment in U.S. AI infrastructure could slow. As a result, Asian chip stocks came under pressure on Wednesday, with Samsung Electronics and SK hynix facing the risk of weaker demand for server DRAM and high-bandwidth memory (HBM). Opposition to data centers centers on noise, water consumption, energy use, and electricity costs. Markets are concerned that local governments may tighten project approval processes, delaying the construction of new data centers. The election results are expected to have mixed effects on South Korean companies. Democratic control of Congress could serve as a check on President Trump’s efforts to cut subsidies under the CHIPS and Science Act, benefiting companies such as Samsung Electronics that invest in the U.S. Clean energy tax credits may be reinstated, benefiting solar companies such as Hanwha Solutions. Automotive tariffs are unlikely to ease, while the framework for U.S.–South Korea shipbuilding cooperation is expected to continue. - Original

3. Spot gold breaks above $4,040 per ounce, up 2.79% on the day

4. Hong Kong Legislative Council passes crypto-asset tax reporting bill, to take effect in 2027

The Hong Kong Legislative Council passed the (Inland Revenue (Amendment) (Crypto-Asset Reporting Framework and Amended Common Reporting Standard) Bill 2026), which will implement the OECD’s Crypto-Asset Reporting Framework in Hong Kong. The framework will take effect in 2027, requiring relevant service providers to collect prescribed information for the Hong Kong Inland Revenue Department to exchange with partner jurisdictions starting in 2028. The amended Common Reporting Standard will take effect in 2028, and from 2029 the tax authority will automatically exchange financial account information with appropriate partners under the new standard. - Original

5. Bitcoin ETFs see net outflows of 859 BTC in one day; Ethereum ETFs see net outflows of 34,500 ETH

On November 4, Bitcoin ETFs saw net outflows of 859 BTC, worth approximately $67.33 million; net outflows over the past 7 days totaled 12,600 BTC, worth approximately $991 million. On November 4, Ethereum ETFs saw net outflows of 34,500 ETH, worth approximately $79.99 million; net outflows over the past 7 days totaled 203,000 ETH, worth approximately $471 million. - Original

6. Crypto industry spends over $64 million in U.S. midterm elections but fails to prevent Sherrod Brown’s reelection

The crypto industry spent over $64 million in the U.S. midterm elections but failed to prevent Sherrod Brown’s reelection, while several pro-crypto Republican lawmakers lost their races. Pro-crypto House Republicans Bryan Steil, Zach Nunn, and Ann Wagner lost their seats, and Mike Lawler has conceded defeat. - Original

7. CZ says Binance is under an organized attack, with 11,700 hostile posts appearing in 78 hours

Binance founder CZ reposted an article saying that Binance had been targeted in an organized attack. Data shows that between 05:00 on October 30 and 20:00 on November 2, 1,083 accounts posted 11,700 hostile posts, generating 20.93 million impressions, of which 3,354 were identified as misinformation. Among the 641 most active accounts, 452 showed signs of coordination, and 444 formed a single connected network. - Original

8. Riot Platforms sells 8,962 BTC to fund data center development and debt repayment, still holds 2,418 BTC

Publicly listed mining company Riot Platforms sold 8,962 BTC to fund data center development and debt repayment. It still holds 2,418 BTC. - Original

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