Odaily report: As Bitcoin mining companies accelerate their pivot toward AI data center operations, construction cost overruns and risk allocation have become focal points for the market. In the latest earnings season, Cipher disclosed that under revised leasing arrangements, the company will bear the first $359.3 million in cost overruns beyond the original budget for the Barber Lake project; Riot expects that approximately 70% of its Rockdale project budget will be covered under guaranteed maximum price (GMP) contracts to control cost risk; Core Scientific stated that tariffs have driven up costs for certain equipment and materials. Additionally, Riot noted that lenders are scrutinizing tenant creditworthiness, power infrastructure energization status, and project delivery records more rigorously. (TheEnergyMag)

Odaily Report: Ahead of the nonfarm payrolls data release, Fed's Williams said the labor market is exceptionally stable and solid, inflation is too high and has been too high for too long, and the U.S. economy is remarkably resilient.

Odaily reports: Crypto analyst Darkfost stated that the Bitcoin market is currently dominated by realized losses, with a net realized PnL of -$191 million over the past week. Over the past 3 days, investors have realized losses of approximately $657 million to $703 million per day in Bitcoin trading, with cumulative realized losses exceeding $2 billion.

Darkfost noted that the current scale of losses has not yet reached the levels seen in early August but is gradually approaching them. As Bitcoin once again falls below the important psychological threshold of $80,000, the loss trend has clearly accelerated. It remains uncertain whether this round of investor stop-losses and selling is nearing its end or will continue further.

Odaily: The Central Bank of Nigeria has issued a regulatory framework for non-security virtual assets, covering stablecoin issuance, exchange, custody, transfers, and settlement. The regulations require that licensed issuers of foreign currency-pegged stablecoins continuously maintain paid-in capital of at least 15 billion naira, while the threshold for naira-pegged stablecoin issuers is 10 billion naira. Platform P2P service providers must verify that the name on the naira payment account and the bank verification number match those of the verified customer before releasing or crediting regulated tokens. The effective date of the regulations will be determined by the central bank in a subsequent document.

Odaily: The Central Bank of Nigeria has issued regulatory rules for the operation of non-securities virtual assets, requiring that foreign currency stablecoins be issued by entities registered in Nigeria and holding the corresponding issuance license, and that they may only be offered to local users after approval by the central bank; foreign licenses cannot substitute for this. The minimum paid-in capital for issuers of naira stablecoins and foreign currency stablecoins is 10 billion naira and 15 billion naira, respectively, while other service providers require 1 billion naira. Stablecoins must be fully reserved on a 1:1 basis with an additional 2% overcollateralization, and holders must be able to redeem at par by the next business day; issuers may not pay interest or returns, and algorithmic stablecoins and fiat stablecoins backed primarily by crypto assets are prohibited. Existing operators must register with the central bank within 30 days after the rules take effect and apply for a license within 180 days; during the transition period, they may only maintain their existing business scale, and peer-to-peer trading platforms are also subject to these rules.

Odaily reports: The CEO of Hyperliquid Strategies (Nasdaq: PURR) stated that the company has submitted an application for Futures Commission Merchant (FCM) registration. NFA records show that the application was filed by its subsidiary HypeStrat Markets and is currently pending approval. If regulatory approval is granted, the FCM plans to open and carry accounts for U.S. clients based on Hyperliquid HIP-3 permissioned markets; the outcome and timeline of the application remain uncertain.

Odaily reports that the ongoing slump in global tech stocks is pushing the hedge fund industry into a new round of adjustment. As AI-related trades reverse sharply, the global tech stock selloff has dealt a heavy blow to hedge funds, with some strategies' year-to-date returns nearly wiped out. Several large funds have begun cutting leverage and disbanding investment teams, with market concerns that concentrated unwinding could further amplify volatility.

Goldman Sachs data shows that equity long/short strategy funds focused primarily on tech stocks lost more than 4% in a single day on Thursday, bringing their year-to-date returns down to near zero. As recently as June this year, these funds had posted cumulative returns of as much as 24%.

The losses were not confined to tech-focused strategies. Goldman Sachs data shows that global fundamental equity long/short strategy funds fell an average of 1.3% on Thursday, while multi-strategy funds dropped 1.4%, reflecting that selling pressure is spreading to a broader range of portfolios.

Odaily reports: According to Arkham monitoring, Morgan Stanley has transferred a total of 9,297 SOL to Coinbase over the past two days through its Solana exchange-traded fund MSOL, suspected of selling. It currently still holds approximately 510,000 SOL, valued at $45.79 million.

In addition, Morgan Stanley yesterday spent $3.41 million through its Bitcoin exchange-traded fund MSBT to buy the dip with 43 BTC, bringing its total Bitcoin holdings to 10,893 BTC.

Odaily: The Central Bank of Nigeria (CBN) has issued the "Regulations for Non-Securities Virtual Asset Operations," stipulating that foreign currency stablecoin issuers must maintain a minimum paid-in capital of 15 billion naira, and P2P transactions must verify BVN. The CBN will regulate non-securities virtual assets and stablecoins used for payments, settlements, and remittances, while securities-type virtual assets will continue to be regulated by the Securities and Exchange Commission (SEC).

Odaily Report: He Yi quoted Musk's previously posted CZ-related meme on X, paired with the classic red and blue pill scene from the film "The Matrix," and posted asking: "Which color pill do you choose?"

Previously, Musk used a CZ-related meme to respond to the crypto market downturn, after which CZ responded with a "took an arrow to the knee" meme. OKX CEO Star also joined the interaction, joking: "The richest man is jealous of the richest man, so he 'smears' the richest man again!"

As the related interactions continued to draw attention, according to GMGN data, the market cap of the related Meme coin GM (GREEN MORNING) has surpassed $7 million.

Odaily reminds users that Meme coin prices are highly volatile, and investors should participate with caution.

Odaily reports: Data shows that prediction market trading volume reached $123 billion in October, setting a new all-time monthly high, up 57.5% month-over-month and more than double August's figure. Among this, sports markets recorded $26 billion in trading volume, crypto markets about $14 billion, and political markets over $800 million, up 43% month-over-month, mainly driven by the U.S. midterm elections on November 3.

Odaily reports: Ahead of Friday's release of the U.S. October nonfarm payrolls report, bond traders have already bet that the U.S. Treasury market will rise further, while market expectations for the Federal Reserve to continue raising rates have continued to cool. After the U.S. midterm elections, global stock markets suffered a sell-off, driving investors toward U.S. Treasuries this week as a safe haven, and the 10-year Treasury yield fell on Thursday to its lowest level since early September.

As the stock market sell-off intensified further, the 10-year Treasury yield stood at 4.82% on Friday. The recent rally in the bond market has strengthened traders' confidence that yields will fall further. One options market trade bets that the 10-year Treasury yield could fall to 4.7% by the end of next week; another trade expiring on November 20 bets that the yield will fall to about 4.35%.

Gennadiy Goldberg, head of U.S. rates strategy at TD Securities, said the data due Friday is expected to be slightly weak, but the market is still mainly focused on economic fundamentals. He noted that the U.S. economy remains quite strong and the labor market is showing a "low hiring, low layoffs" pattern, so the market has already sharply reduced rate hike expectations over the past few weeks.

Odaily reports: According to MSX.COM data, in pre-market trading, Dow futures fell 0.8%, S&P 500 futures rose 0.24%, and Nasdaq 100 futures rose 1.1%. Some chip stocks rebounded: AMD (AMD.O) rose 5.3%, TSMC (TSM.N) rose 5.3%, Nvidia (NVDA.O) rose 2.9%, and Broadcom (AVGO.O) rose 3.8%. SpaceX (SPCX.O) and Tesla (TSLA.O) rebounded 2% and 1.4% pre-market, respectively.

Odaily: South Korean cryptocurrency exchange Gopax has announced the suspension of all trading services in order to transfer all customer assets to cold wallets. The platform stated that this move is a precautionary security measure in response to multiple recent security breaches and data leak incidents at financial institutions. (The Block)

Odaily reports: Former Fidelity investment fund manager George Noble warned on Thursday that Nvidia is heading down a path similar to the dot-com bubble burst by "propping up" customers who purchase its artificial intelligence (AI) hardware. In a post on social media, Noble noted that Nvidia currently accounts for about 8% of the S&P 500, double the weight Cisco held at the peak of the dot-com bubble in 2000. He believes the semiconductor giant is repeating the same mistakes, falling into the "exact same" trap that dealt a devastating blow to Cisco more than two decades ago.

According to MSX.COM data, the 24-hour declines of multiple US stock-related contracts have widened. MU is down 10.2%, now trading at 696.68 USDT; AMD is down 10.0%, now trading at 429.23 USDT.