Hong Kong plans to establish licensing regimes for virtual-asset trading, custody, advisory services and management, with an amendment bill to be submitted to the Legislative Council in 2026, Under Secretary for Financial Services and the Treasury Christopher Hui said. According to Foresight News, Hui made the remarks at the main forum of the 11th Hong Kong FinTech Week x StartmeupHK 2026, which concluded on Nov. 3 and discussed finance, AI and global expansion as growth drivers. Securities and Futures Commission Chief Executive Julia Leung said tokenization should be integrated into market operations to improve liquidity and that governance of agentic AI should be proportionate. Hong Kong Monetary Authority Chief Executive Eddie Yue said the authority would use its “Fintech 2030” initiative to promote responsible adoption of AI and tokenization by banks. Chief Executive John Lee said Hong Kong’s first five-year plan is closely aligned with the country’s 15th Five-Year Plan and provides businesses with a clear and stable outlook.

Binance, wallet, hacking attack, how much trouble can working people cause? Binance was hacked because an employee secretly conducted interviews. Jinse Finance, now, the most curious thing is how Binance will deal with the working person who caused the trouble?

Bain Capital Chair John Connaughton expects $30 billion of exits this year, according to Bloomberg. He said he is optimistic about the firm’s Asia business and hopes to build momentum with exits in China. Connaughton spoke with David Ingles and Yvonne Man on the sidelines of the Hong Kong Monetary Authority Global Financial Leaders' Investment Summit.

Palm oil futures fell for a third straight session to their lowest level since mid-June as concerns mounted over swelling stockpiles in Malaysia, the world’s second-biggest grower, Bloomberg reported.

According to Nikkei Asia, RTHK and NOWNEWS, Asian stocks came under pressure on Wednesday morning as U.S. midterm vote counting suggested the Democratic Party was poised to take control of the House of Representatives while also leading in the Senate. Japan's Nikkei 225 stood at 60,323.49 as of 04:32 UTC, down 2,758.37 points, or 4.37%, after touching a more-than-three-month low earlier in the morning. Advantest fell 9.09% and Tokyo Electron dropped 7.33%. South Korea's KOSPI fell in tandem, standing at 5,468.05 as of 04:32 UTC, down 180.74 points, or 3.20%. SK Hynix dropped 5.72% and Samsung Electronics declined 3.87%. Hong Kong stocks traded in a narrow range. The Hang Seng Index opened lower and fell as much as 140 points to a low of 23,385 before recovering toward noon, ending the morning session at 23,529, up 3 points, with main-board turnover above HK$87.7 billion. The Hang Seng Tech Index was at 3,828, down 1%, with JD.com and Alibaba each down nearly 2%. Automakers and AI large-model stocks weakened, as XPeng, NIO, Li Auto, MiniMax and Zhipu fell between more than 3% and about 4%. Chip and pharmaceutical stocks rose, with BeiGene, WuXi Biologics and WuXi AppTec up nearly 5% or more and SMIC up more than 2%. Taiwan's TAIEX opened higher at 43,449.45, up 141.91 points, before turning lower; it stood at 41,950.86 at 03:40 UTC, down 1,356.68 points, or 3.13%, breaking below 42,000. As of 04:32 UTC, the index was at 42,386.33, down 921.21 points, or 2.13%. TSMC fell 1.96% and MediaTek declined 3.40%. In mainland China, as of 04:32 UTC, the Shanghai Composite ended the morning session at 3,604.37, down 0.10%, while the Shenzhen Component rose 0.14% to 10,891.91 and the CSI 300 edged up 0.04% to 4,010.35.

Thailand's Finance Minister Ekniti Nitithanprapas said there are no plans to raise the public debt ceiling and that the current limit of 70% of GDP is reasonable. According to Sina Finance, Ekniti said at an economic forum on Wednesday that his task is to reduce public debt as a share of GDP and maintain fiscal discipline. As of the end of September, public debt stood at 68.6% of GDP. The government plans to use some remaining funds from a 200 billion baht borrowing program to encourage the transportation sector to switch to cleaner fuels. The government had previously approved allocating 73 billion baht from the program, mainly to fund a household rooftop solar subsidy program. Citing rising travel costs and the need to support tourism and attract more foreign visitors, the Finance Ministry has suspended plans to impose an exit tax of about 1,000 baht.

French crypto market intelligence firm OAK Research published a report on October 30 titled “Stablecoins Generate Huge Revenue, but It Is Not Flowing to Public Blockchains,” authored by Lilian Aliaga. According to ChainCatcher, the report found that stablecoin issuers earned far more than the public blockchains hosting their tokens. Stablecoin market capitalization has grown from $4 billion in January 2020 to about $298 billion currently, after reaching $310 billion at the end of April this year. The market is now more than three times the total value locked in DeFi. In the third quarter of 2026, Tether and Circle generated about $2.1 billion in combined revenue, while fees across the 13 blockchains tracked by OAK totaled $285 million. The report said issuers primarily earn interest on reserve assets, while blockchains collect transaction fees and do not generate revenue from stablecoin balances held on their networks. Circle reported $701.3 million in total revenue in the second quarter of 2026, of which reserve income accounted for 95%, or $667.7 million, up just 5% year over year. Over the same period, USDC on-chain transaction volume rose 151% to $14.8 trillion, and its average supply increased 25%. Circle’s reserve yield fell 66 basis points to 3.49%. Tether’s average supply grew 10.6% year over year, while DefiLlama estimates its quarterly revenue at about $1.5 billion. In the third quarter of 2026, Ethereum hosted an average of $146 billion in stablecoins but collected only $34.6 million in fees. Solana hosted less than $16 billion and collected $62.9 million in fees, of which just $6.7 million remained with protocols. In the first quarter of 2024, Ethereum fees reached $1.17 billion, exceeding the approximately $730 million in issuer revenue associated with its stablecoin holdings. By the third quarter of 2026, issuer revenue was about $986 million, while Ethereum fees were $34.6 million. Stablecoins currently account for about 28% of deposits on Aave, 37% on Morpho, and 84% on Hyperliquid.

Indian companies cut dollar purchases to hedge against rupee weakness to an eight-month low, a sign the Reserve Bank of India’s crackdown on what it called speculative bets against the currency is yielding results, according to Bloomberg.

The Polymarket probability that Republicans will hold fewer than 170 House seats after the midterm elections rose to 28%, up 27% over 24 hours. According to Odaily, the probability of Republicans winning 170 to 174 seats also reached 28%, rising 25% over the same period.

On the day of the US midterm elections, prediction markets bet an 82% probability of a Democratic sweep of both houses of Congress, with total betting exceeding $1.48 billion, a record high. Whether these predictions come true will directly determine the fate of this emerging industry's credibility.

In Ubuntu and Red Hat systems, a near-perfect Linux kernel vulnerability remains unpatched. An unreleased large model from Anthropic successfully transforms this vulnerability into a high-risk exploit chain capable of remotely gaining root privileges!

When the mobile internet was booming, ride-hailing and food delivery services relied on subsidies to cultivate usage habits. Stablecoin investment with interest rate hikes has a similar plan: first attract funds, then strive for subsequent revenue.

Binance revealed that hackers used fake job interviews, malicious software and an internal AI tool to breach its systems and steal around $6.43 billion in crypto across 11 blockchains on 29 October.

In the future, model service providers may deliver to users not only answers and tokens, but also a cryptographic credential that proves "this was indeed generated by the model you specified".

Unsustainable AI debt – a capital expenditure frenzy, revenue lag, and creditor risk.

Michael S. Selig, chairman of the U.S. Commodity Futures Trading Commission (CFTC), announced that perpetual futures contracts for individual stocks can be listed and traded for the first time on designated contract markets, which have also completed dual registration with the U.S. Securities and Exchange Commission (SEC).

Aave is pushing something that could change the entire DeFi industry.

Binance released an updated report on the preliminary investigation results and response measures for the security incident on October 29, disclosing the attack process in which approximately $6.3 billion in assets were stolen.