TREE NEWS reports: American Bitcoin, the Eric Trump-backed miner, reported $126 million in quarterly net income, driven largely by gains on its Bitcoin holdings. The profit came despite rising mining costs and shrinking margins, as rival miners increasingly pivot toward AI.
TREE NEWS reports: Several listed CXO companies said at their third-quarter earnings briefings that order backlogs remain ample and full-year results are expected to grow, as demand for pharmaceutical R&D services recovers alongside faster out-licensing deals for innovative drugs. With project deliveries set to expand further in the fourth quarter, the sector’s momentum is likely to continue, the companies said.
TREE NEWS reports: Chinese solar stocks rallied on November 5, with Shichuang Energy, Beite Li, Zhongli Group, Hongyuan Green Energy and Junda Shares hitting their daily limit-up. Analysts attributed the rebound to narrowing losses at leading firms in the third quarter, stabilizing polysilicon prices, selective product price adjustments and expectations of recovering demand in Europe and the US. Profit recovery remains concentrated in high-efficiency products such as BC cells, and the supply-demand inflection point is not yet clear.
TREE NEWS update: Gosuncn and Suntak Technology disclosed on the evening of Nov. 5 that their subsidiaries have adjusted their Beijing Stock Exchange IPO plans. Gosuncn’s controlled subsidiary Chuanglian Technology terminated its listing tutoring filing and plans to apply for delisting from the New Third Board, while Suntak’s controlled subsidiary Punuowei withdrew its Beijing Stock Exchange IPO application materials.
TREE NEWS update: US Defense Secretary Pete Hegseth said in a video posted on social media on the 5th that he will fight back against impeachment articles filed by Republican Representative Thomas Massie and his Democratic allies, calling the move baseless and politically motivated. Massie first introduced articles of impeachment against Hegseth in September and has said he will push them again unless Hegseth resigns. The statement came as Democrats made major gains in the US midterm elections and some lawmakers said they would advance impeachment proceedings.
TREE NEWS update: The US October nonfarm payrolls report, including employment, the unemployment rate and average hourly earnings, is scheduled for release at 21:30 Beijing time, alongside Canada’s October employment and jobless figures. The calendar also includes Fed speakers Logan, Williams, Musalem, Bowman and Daly, plus the preliminary University of Michigan November consumer sentiment index at 23:00. Germany’s September industrial output is due at 15:00 and China’s October FX reserves are scheduled for Saturday.
TREE NEWS reports: Paradigm’s Justin Slaughter said the CLARITY Act is dead and that House Financial Services staff are reportedly drafting a new crypto bill from House Democrats. Slaughter said the draft could impose stricter DeFi rules and shift more of the industry’s oversight from the CFTC to the SEC, warning that DeFi “needs to be watching this very closely.”
TREE NEWS reports: China’s A-share technology sector has staged a strong rebound after months of deep correction, with several fund managers saying the pullback may be over and a recovery rally could follow. Managers remain bullish on the tech main line but are shifting from beta-driven rebounds to alpha stock selection, focusing on industry trends and company fundamentals rather than paying excessive premiums for grand narratives.
TREE NEWS reports: Nvidia CEO Jensen Huang’s net worth fell $15.1 billion to $150.9 billion on Thursday, dropping him from ninth to 13th on the Bloomberg Billionaires Index as US tech stocks sold off. Nvidia shares fell 9.26%, their biggest drop since January 2025. Elon Musk and Oracle co-founder Larry Ellison lost $79.7 billion and $10.1 billion respectively, and the index’s 500 members shed a combined $185 billion in a single day.
TREE NEWS reports: A total of 92 equity funds entered their subscription periods in November, accounting for more than 60% of all newly launched funds that month, with several products offering only a one-day raise. The rapid pace of launches comes as fund managers face the challenge of timing market entries and selecting sectors amid volatile conditions, with some industry participants describing low-market issuance as only the opening move.
TREE NEWS reports: Crypto exchanges across Asia are tightening security measures in response to a wave of potentially AI-assisted hacks, even as regional governments move to embrace tokenization and stablecoins. The heightened vigilance follows a recent surge in attacks targeting trading platforms in the region.
TREE NEWS reports: In late New York trading on Thursday, Nov. 5, S&P 500 futures closed down 4.65% and Dow futures fell 3.9%, while Nasdaq 100 futures dropped 6.88%. Russell 2000 futures ended the session down 4.94%.
TREE NEWS update: Paraguay’s president has resigned after the collapse of Ueno left millions of depositors locked out of their funds, with the bank failure affecting 60% of the country. The episode has revived Bitcoin’s self-custody argument, as depositors were unable to access their money during the crisis. No further details on the timeline or the president’s replacement were provided.
TREE NEWS update: Blue Origin now plans to resume launches of its New Glenn rocket in January, following a destructive launch pad explosion in May. The company has spent the past six months rebuilding the pad at Cape Canaveral, Florida, and reworking parts of its launch operations. New Glenn is critical to carrying Blue Origin’s lunar lander hardware into space as part of NASA’s Artemis program.
TREE NEWS update: Japan and Vietnam are set to reach a consensus on small nuclear reactors, with an agreement expected to be finalized. The two countries are working toward cooperation on the deployment of small modular reactor technology. Further details of the arrangement were not immediately available.
TREE NEWS reports: A US stock index tracking cryptocurrency and crypto-related companies closed down 11.17% at 47.31 points, hitting a session low of 45.09 at 23:54 Beijing time. Over the past 24 hours, spot bitcoin fell 5.35% to $75,859, sliding after US markets opened as semiconductor and AI stocks were sold off, while spot ether dropped 7.63% to $2,232.877.
TREE NEWS update: Hyperliquid Strategies reported $13.3 million in quarterly revenue and $620.6 million in net income, and has filed with the CFTC to register as a futures commission merchant for U.S. HIP-3 perpetual markets. The filing would bring the platform’s perpetual futures business under direct federal derivatives oversight.
TREE NEWS reports: The offshore yuan (CNH) strengthened 91 pips against the dollar to 6.6648 in New York trading on Thursday, compared with Wednesday’s New York close, with the pair moving in a range of 6.6752 to 6.6635 during the session. The move was recorded at the New York close, or 05:59 Beijing time on Friday.
TREE NEWS update: Scientists at China’s space station have cooled a cloud of rubidium atoms to an equivalent temperature of 9.7 picokelvin, 14 orders of magnitude below room temperature, setting a new human low-temperature record. The experiment, conducted with an all-optical trap in the station’s ultracold atom physics cabinet, sustained observation for 7 seconds. The work was led by the Technology and Engineering Center for Space Utilization of the Chinese Academy of Sciences with Peking University and the Shanghai Institute of Optics and Fine Mechanics, and was published in the journal Science.
TREE NEWS reports: Spot gold rose 0.7% to $4,089.15 an ounce at the New York close on Thursday, Nov. 5, after hitting a session high of $4,146.97 at 11:57 Beijing time. Spot silver fell 0.84% to $51.7798 an ounce, while COMEX copper dropped 3.47% to $6.2055 a pound, sliding steadily after the U.S. open. The NYSE Arca Gold Miners Index gained 2.64% to 2,467.55, while the State Street SPDR metals and mining ETF fell 5.6% to $90.42.