Flash News

TREE NEWS update: China’s 14th National People’s Congress Standing Committee concluded its 25th session in Beijing on the morning of the 6th, passing 15 laws including the procuratorial public interest litigation law, the Antarctic activities and environmental protection law, a revised Water Law, the anti-cross-border corruption law, and amendments to the Emergency Response Law. The session also removed Li Lecheng from the post of Minister of Industry and Information Technology.

TREE NEWS reports: European equities deepened their decline, with Germany’s DAX dropping more than 2% and the UK’s FTSE 100 falling 2%. The Euro Stoxx 50 was down 1.4% and France’s CAC 40 lost 1.7% as the selloff across the region’s major benchmarks widened.

TREE NEWS update: South Korea’s GOPAX suspended trading, deposits and standard withdrawals after a hacking threat, with manual withdrawals available through customer support. All assets are being moved to cold storage, the exchange said. The halt affects one of the country’s smaller crypto trading venues.

TREE NEWS update: Kalshi users poured $300 million into stock perpetual contracts within hours of their U.S. debut, including contracts on Palantir, Meta and SpaceX. The contracts fall under both CFTC and SEC oversight, two days after CFTC Chairman Michael Selig said equity perps could trade onshore.

TREE NEWS reports: Bitcoin miner turned AI cloud provider IREN has pushed its $4 billion AI cloud revenue goal to 2027, citing a customer-requested change and supplier timing. AI cloud revenue reached $200 million last quarter, but the company still has $6 billion of capital expenditure yet to be financed.

TREE NEWS update: Iran said the United States must take concrete measures to advance diplomatic progress. The statement did not specify which steps were expected or set a timeline. It comes amid ongoing tensions between Washington and Tehran.

TREE NEWS reports: Blockchain records show repeated wallet drains tied to the $6.3 billion Binance hack, but experts say the on-chain data cannot establish the exchange’s internal signing controls or transaction limits. The gaps leave unresolved questions over how the hot wallet’s safeguards were configured at the time of the incident.

TREE NEWS reports: SoftBank Group’s 2032 dollar bonds fell 0.9 cents on Friday, their biggest single-day drop in nearly ten weeks, as the AI stock selloff spread to credit markets. SoftBank shares fell as much as 16% intraday, while Asian investment-grade dollar bond spreads widened at least 3 basis points. The average Asian investment-grade dollar spread rose to 73 basis points on Thursday, the widest since July 2025.

TREE NEWS update: Taiwan has imposed restrictions on short selling in a bid to support its stock market. The move, reported on [date not given], is aimed at curbing downward pressure on equities. No further details on the scope or duration of the restrictions were provided.

TREE NEWS update: Three contestants — Lin Moyang, abingttt and Touji Shiyanshi — tied for first in the second round of OKX’s “Earnings Winner” US stock earnings-season prediction contest, each stopping at match 26 with 26 wins including one revival. They will split the 10,000 USDT prize pool, roughly 3,333 USDT each. OKX also said the third season of its “OKX Prophet” prediction campaign has been extended to the end of this month, with users competing for a 360,000 USDT pool.

TREE NEWS update: Chen Meifang, chairman of WUS Printed Circuit (沪电股份), proposed a share buyback of between 500 million and 1 billion yuan via centralized bidding, the company said. The repurchase price would be capped at 150% of the average price over the 30 trading days before the board approves the resolution. The shares would fund an employee stock ownership plan or equity incentives, reduce registered capital, or support company value and shareholder interests.

TREE NEWS update: Ding Xiangqun, Party Secretary and Director of China’s National Financial Regulatory Administration, led a team to Hebei on November 5 to inspect local operations and discuss reform and risk mitigation at small and medium-sized local financial institutions. The visit included meetings with provincial government leaders on strengthening central-local coordination and talks with grassroots regulatory staff.

TREE NEWS reports: A report published on the 5th by a U.S. model evaluation and threat research organization found that the capability of U.S. AI models in performing specific tasks has recently improved at roughly twice the previous pace, with Anthropic’s model cited as an example. Anthropic CEO Dario Amodei had publicly called in September for slowing the pace of frontier AI development so that safety safeguards could keep up.

TREE NEWS update: China Southern Airlines Group signed 24 import procurement agreements with 20 global suppliers from nine countries and regions at the China International Import Expo on Nov. 6, setting a new record for purchase volume. The deals cover aircraft engine spare parts, aviation materials support, full-flight simulators and airline catering. Its subsidiaries Zhuhai MTU and the Engineering Technology Branch renewed engine spare parts procurement and maintenance service agreements with GE Aerospace (CFM International).

TREE NEWS update: The White House regulatory office logged a draft SEC rule on crypto broker-dealers on Nov. 3 for review, flagging it as “economically significant.” The draft’s text is not public, so what it would change for brokerages holding crypto is not yet known. The review is a procedural step before any proposed rule could advance.

TREE NEWS update: Phoenix Shipping said the China Securities Regulatory Commission has opened an investigation into the company on suspicion of violating information-disclosure rules. The company disclosed the regulatory action without giving further details. The filing did not specify what disclosures are at issue or what penalties the company could face.

TREE NEWS update: The Guangzhou Futures Exchange has published its lithium hydroxide futures and options contracts along with the related business rules, after the board approved them and the exchange reported to the China Securities Regulatory Commission. The contracts and rules take effect from the date of publication. A separate notice will set the listing and trading dates for the new futures and options.

TREE NEWS update: China’s National Association of Financial Market Institutional Investors (NAFMII) issued a notice requiring issuers of debt financing instruments to disclose accounts payable balances, their share of total liabilities and changes over the past year, along with the distribution of major payables and payment terms, and payable turnover days in registration and issuance documents. Issuers must also disclose amounts and issuance status for commercial drafts and electronic accounts receivable certificates.

TREE NEWS update: The Ethereum Foundation is calling on developers to review smart contracts after security findings tied to the Glamsterdam upgrade, most of which involve fixed gas budgets and reserves. The Hoodi testnet upgrade remains paused, and no mainnet activation date has been confirmed.