Odaily reports: Galaxy Research has released a U.S. midterm election assessment report, warning that if Democrats win both chambers of Congress, the crypto industry could face stricter congressional oversight—particularly with Elizabeth Warren expected to chair the Senate Banking Committee and Maxine Waters set to lead the House Financial Services Committee.

Galaxy Research Director Alex Thorn anticipates that congressional progress on key digital asset legislation may stall, stating that he does not expect Congress to make substantive progress on major digital asset legislation. However, the U.S. Securities and Exchange Commission (SEC), the U.S. Commodity Futures Trading Commission (CFTC), and banking regulators can still continue to develop and clarify crypto asset regulatory rules under existing statutory authority. (NewsBitcoin)

Odaily Report: Keplr Wallet has released an update on the security incident. Users who logged in with Google or Apple should temporarily stop transferring new funds to the affected accounts and move any remaining transferable assets to accounts created via seed phrase or hardware wallet. Some affected accounts may show reduced or zero balances due to asset protection measures.

A vulnerability in Web3Auth infrastructure has led to the leakage of private keys for some users who logged in via Google or Apple social login. The team is currently assisting Web3Auth in taking measures to protect the assets of affected users, and the related remediation is still ongoing. Staked and locked assets may take longer to process due to added complexity. Users are also reminded to trust only information published by official Keplr and Web3Auth accounts, and to be wary of direct messages and links impersonating asset recovery services.

Odaily reports: Hong Kong's Under Secretary for Financial Services and the Treasury, Joseph Chan Ho-lim, revealed that in response to the global trend of strengthening tax regulation on digital assets and combating cross-border tax evasion, crypto-asset reporting will be implemented in the Hong Kong SAR of China starting in 2027. Under common understanding, Bitcoin, Ether, Solana, and other assets commonly seen in the global market will all be included. To ensure the effective implementation of the crypto-asset reporting framework, a series of arrangements will be introduced, including mandating reporting crypto-asset service providers with a reporting nexus to Hong Kong to register with the tax department, and requiring relevant service providers to maintain due diligence records. A dedicated task force has now been established to provide technical support and answer queries for the industry.

It is understood that the crypto industry is focused on at least two key aspects: first, the areas that the tax department's relevant guidelines will cover, particularly whether the scope of "covered service providers" will extend to custody, brokerage, and over-the-counter trading; second, the list of the first batch of exchange partners, which is believed to directly determine which countries' tax authorities will be able to see transaction data on Hong Kong platforms after 2028. (Caijing Magazine)

Odaily reports: According to Programs statistics, the "blue wave" swept in by the US Democratic Party during the midterm elections has intensified market concerns over the pace of data center construction. As of November 4, among the 69 data center projects canceled since 2024, about half were canceled due to local resident opposition, making it the primary reason for project cancellations. The website also shows that since October, at least 4 data center projects have been canceled in the US; in the third quarter, at least 17 projects were canceled, the highest since 2024. Since the second half of this year, the number of canceled data center projects has approached the full-year total for 2025.

Odaily reports: With Democrats winning the midterm elections and set to control Congress, the political advantages the crypto industry has enjoyed in Washington over the past two years are now facing reversal. However, some of the policy achievements the crypto industry previously secured are not easily overturned. For instance, repealing the federal stablecoin law would require new legislation; the SEC and the U.S. Commodity Futures Trading Commission (CFTC) can still continue their work on formulating digital asset regulatory rules.

It is reported that the crypto industry has begun turning to bipartisan support in pursuit of long-term development, and long-term market growth is no longer confined to an alliance with Trump. Digital assets are progressively expanding into areas such as investment funds, stablecoin payments, and financial infrastructure. For an industry seeking to attract users and institutions across different political stances, reducing partisanship and securing bipartisan support may become an important direction for the next phase. (Bloomberg)

Odaily reports: According to a post by Leopold Stock Tracker, there is currently no confirmed source indicating that Situational Awareness, the investment fund founded by Leopold Aschenbrenner, has blown up again. However, the fund’s holdings disclosed in Q2 have seen significant drawdowns, with SanDisk falling from a stage reference price near $836 to a low under the relevant statistical measure, a drop of about 63%; Micron fell about 41%, Core Scientific fell about 56%, Nebius fell about 54%, CoreWeave fell about 55%, and Bloom Energy fell about 43%.

It is worth noting that Situational Awareness’s Q3 13F holdings report is expected to be released on November 16, at which time it will disclose the fund’s U.S. stock holdings as of September 30, and is expected to cover position changes during the period from July 1 to September 30.

Odaily Report: Tom Lee, Chairman of Bitcoin treasury company Bitmine, said in an interview with CNBC that the AI investment boom is far from over. As more and more users use tokens, demand for computing resources may continue to climb, causing computing power supply to tighten again and driving related prices higher. AI infrastructure bottlenecks may once again become a focal point of market attention. In addition, although many U.S. states and local communities welcome the economic benefits brought by AI investment, they will also seek to advance related investment on their own terms and strengthen AI safety regulation.

Odaily reports that renowned investor Jason Calacanis stated on X that a market bottom may have already formed, but tech stock valuations could still fall a further 10%, at which point it would be his ideal buying opportunity. He also revealed that all of his currently available "idle funds" are being used to add to positions in Tesla (TSLA), SpaceX (SPCX), Uber (UBER), Amazon (AMZN), Shopify (SHOP), Microsoft (MSFT), Google (GOOG), Apple (AAPL), and other stocks.

Jason also made a series of predictions about future market trends: Democrats will push for the United States to withdraw from Iran-related actions, and Trump will use this to declare the mission accomplished; inflation will then subside; Democrats will shift to supporting data centers and AI development in exchange for adjustments to tax cuts for the wealthy and regulation of frontier AI models; Trump will push through related political agreements and further consolidate his political legacy through the completion of the White House ballroom and pardons. He expects that as the above events unfold, the market will ultimately reach new all-time highs.

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)