Flash News

TREE NEWS reports: Japan’s October composite PMI came in at 52.1 in the final reading, revised down from a preliminary 52.3, pointing to continued but slightly slower expansion in private-sector activity. The final figure remains above the 50 threshold that separates expansion from contraction.

TREE NEWS reports: Pendle’s trading volume reached $221.5 million, a 30-day high, with Ethereum accounting for nearly all of the activity. Reported locked value stayed near $1.03 billion through the day’s latest snapshot.

TREE NEWS reports: SoftBank Group’s shares dropped 7.9% following the earnings report from Arm Holdings. The decline in the Japanese conglomerate’s stock came after the chip designer, in which SoftBank holds a majority stake, released its financial results.

TREE NEWS reports: Toyota Motor shares rose 8.5% on Thursday, marking the stock’s largest single-day gain since July 2025. The move makes Toyota one of the strongest performers in Japan’s auto sector for the session.

TREE NEWS reports: Two Prime CEO Alexander Blume said the bitcoin rewards offered by Babylon and Stacks function as “VC-funded subsidies” that pay out less as deposits grow. He pointed to a vault Two Prime runs on Pareto that lends to borrowers offchain as an alternative source of yield for bitcoin holders.

TREE NEWS reports: Citi set a 0-3 month target price for gold at $4,500 per ounce and a 6-12 month target of $5,000 per ounce. The bank’s forecasts imply expectations of further gains in the metal beyond current levels.

TREE NEWS reports: Japan’s Nikkei 225 rose 0.2% at the open while South Korea’s Kospi benchmark dropped 2%. The two major Asian equity gauges moved in opposite directions at the start of the session.

TREE NEWS update: The Agricultural Development Bank of China issued four bonds totaling 80 billion yuan: a 406-day tranche of 50 billion yuan and 3-year, 5-year and 10-year tranches of 10 billion yuan each. All four carried an issuance yield and expected yield of 0.0000%, with a bid-to-cover ratio of 1.00 times and a marginal ratio of 1.00 times.

TREE NEWS reports: Bitcoin miner-turned-data-center operator Ionic Digital reported third-quarter total revenue of $48.9 million, up 32% year over year. Digital infrastructure leasing contributed about $43.9 million, nearly 90% of the total, while crypto mining revenue fell 86% to roughly $5.1 million from $37.1 million a year earlier. Adjusted EBITDA reached about $35 million versus $154,000 last year, though cash rent actually received was only about $7 million.

TREE NEWS reports: Democrats took control of both the Senate and House in the midterm elections, creating new political headwinds for the crypto industry. Stand With Crypto said 19 crypto-friendly senators and 226 House members were elected, alongside 8 anti-crypto senators and 106 anti-crypto representatives. Coinbase US policy VP Kara Calvert said bipartisan legislation will face resistance next year, though crypto remains a bipartisan issue. In Ohio’s Senate race, crypto PACs including Fairshake spent heavily against Democrat Sherrod Brown, who defeated Republican Jon Husted.

TREE NEWS update: JPMorgan Asset Management has included bitcoin in its 2027 long-term capital market assumptions, projecting a 10% baseline compound annual return over the next decade with 55% annualized volatility. Pandl noted the 10% expected return tops all other asset classes, while bitcoin’s estimated 33% correlation with US large-cap stocks is lower than that of international equities, corporate bonds and hedge funds. JPMorgan remains cautious on unstable correlations and did not add bitcoin to its main covariance matrix.

TREE NEWS update: China is set to issue or is currently issuing government bonds and policy financial bonds, according to a schedule of upcoming and ongoing sovereign and policy-bank debt sales. The notice lists the planned issuance but does not specify total amounts, maturities or pricing for the offerings.

TREE NEWS reports: China’s 19 listed baijiu companies reported combined revenue of about 265.509 billion yuan for the first three quarters, down 7.64% year on year, with combined net profit of about 97.365 billion yuan, down 9.44%. Most distillers deliberately curbed shipments to clear channel inventories, and market participants said the recent share-price rebound reflects expectation repair rather than a fundamental turnaround, which still needs validation during the Spring Festival peak season.

TREE NEWS reports: Bitcoin miners pivoting to AI data center infrastructure leasing saw their shares fall about 35% on average in October, VanEck research shows, even as signed leases remained intact and demand signals strengthened. VanEck attributed the selloff to rising financing costs and macro sentiment, arguing markets underestimate the value of 10- to 20-year leases with investment-grade tenants. It said power, not chips, is AI infrastructure’s bottleneck, and the firms trade at roughly half the EBITDA multiple of data center REITs on 2028 estimates.

TREE NEWS reports: Grayscale and BlackRock said the U.S. midterm election results will not change the crypto industry’s growth trajectory, even after Democrats won. Grayscale research head Zach Pandl said the industry’s future depends more on overseas demand and institutional adoption than on Washington, estimating 80% to 85% of global crypto activity occurs outside the U.S. BlackRock digital assets head Robert Mitchnick downplayed the election’s impact, saying bitcoin and ether already have most of the regulatory clarity needed for investment products.

TREE NEWS update: Bank of Japan policymakers unanimously agreed at their September meeting that the central bank should continue raising its policy rate and adjust the degree of monetary easing. One member said the stage of monetary policy is shifting, while another stressed the importance of stabilizing prices around 2%. A third member said the BOJ should move the policy rate close to target levels as soon as possible while preserving room for flexible adjustment.

TREE NEWS update: X has rewritten its web client, cutting the time to display the first post on a profile page under slow-network conditions from more than 22 seconds to 2.7 seconds, web lead Yagiz Nizipli said in a post on X on Nov. 5. The company detailed the implementation in an engineering blog post, and the new web version is rolling out country by country.

TREE NEWS update: OKX launched USDT-margined TradFi perpetual futures for Murata Manufacturing (MURATA/USDT), Occidental Petroleum (OXY/USDT) and NuScale Power (SMR/USDT), with trading opening on Nov. 4 at 13:30, 16:30 and 16:45 Beijing time respectively. Funding rates normally settle every eight hours but switch to hourly if they hit the ±1% cap, and the contracts trade 24/7. Availability varies by region.

TREE NEWS update: Apple released the first developer beta of macOS 27.3 on November 3, adding native Markdown rendering to Quick Look. Users can select a .md file in Finder and press the spacebar to preview formatted headings, bold text, lists and links without an editor or extension. Apple’s new Siri AI app skills also use Markdown, letting developers attach a SKILL.md file describing how Siri should handle app tasks.