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The Financial Services Commission of South Korea is coordinating inter-departmental differences on the government draft of the "Basic Law on Digital Assets," aiming to present it in November and is expected to advance it in the form of legislative action by lawmakers. Regulatory authorities are discussing setting a single shareholder ownership limit for cryptocurrency trading platforms at 15% to 20%, and providing existing platforms with a transition period of 1 to 2 years; considering property rights disputes, it may also change to only restrict voting rights.The bill proposes to change the access to trading platforms from a declaration system to a licensing system, with stablecoin issuers expected to adopt a bank-centered consortium model. Discussions are also underway regarding implementing strict liability for hacking attacks and system incidents, as well as listing violations of actual holding obligations for crypto assets as grounds for suspension of operations. On November 5, South Korea's Deputy Prime Minister and Minister of Economy and Finance, Lee Hyeong-ik, stated that he would consult with the National Assembly to postpone the implementation of the cryptocurrency asset income tax originally scheduled for next year by two years. The ruling party advocates prioritizing the formulation of this law, establishing an overall regulatory framework, and allowing a transition period for businesses and investors.

The CEO of the cryptocurrency exchange platform Coinbase, Brian Armstrong, stated that as the CEO of a publicly traded company, he supports the tokenization of the company's stock, as he hopes more people can hold the stock.Brian Armstrong stated that potential new groups of shareholders should not be shut out, as this is not a wise business practice, and connections should be established with customers where they are.

Sun Yuchen posted on platform X that his lawyer has applied for sanctions against World Liberty Financial (WLFI) because the company disclosed the UAE citizenship of its shareholders months after he filed the lawsuit.Sun Yuchen stated that he signed a token purchase agreement to buy $30 million of WLFI in November 2024, later increasing the total investment to $45 million, and filed a lawsuit against WLFI in April this year, accusing it of fraudulently inducing investment and illegally freezing his tokens. According to his token purchase agreement, the case can be filed in federal or state court in California, and he chose federal court.Sun Yuchen claimed that the disclosure documents submitted by WLFI at the beginning of the case only listed one entity of WLFI, registered in Florida, and then filed a motion for mandatory arbitration; during the August hearing, the court hinted that it did not recognize the arbitration claim and ruled that some demands would remain for public trial. Less than a week later, WLFI suddenly "corrected" the disclosure documents, increasing the number of members in the ownership chain from 1 to 22, and claimed to have citizenship in Florida, Delaware, Puerto Rico, and the UAE, thereby arguing that the federal court has no jurisdiction because both parties have foreign entities.Sun Yuchen pointed out that WLFI claims it "is not an offshore organization," is "a company that pays taxes in the United States," and "when selling tokens, it poses as a U.S. company, only to discover its UAE identity when trying to escape the U.S. federal court." He stated that after the sanctions motion is ruled on in federal court, he will refile the lawsuit in California state court.

According to CoinDesk, the New York Stock Exchange (NYSE) announced a partnership with Wall Street financial services giant Broadridge Financial Solutions to provide on-chain governance and digital transfer agent services for its planned tokenized stock trading platform, covering functions such as shareholder record management, investor communication, and proxy voting.In the future, investors will be able to participate in shareholder voting through supported wallets, brokerage platforms, or Broadridge's existing ProxyVote service. Broadridge will help retain the shareholder rights of traditional markets while enabling tokenized stocks to trade on-chain. The company currently serves over 10,000 publicly traded companies worldwide and processes over $150 trillion in securities transaction settlements daily. Previously, Securitize and tZERO have also been included in the transfer agent service layout for the NYSE tokenized platform.

Cryptocurrency analyst Darkfost stated that tracking the profit and loss status of holders corresponding to tokens that moved in Bitcoin over the last 1 to 3 months reveals that this group currently has an estimated unrealized loss of $452 million, marking the first significant pressure since the end of the bear market.Darkfost pointed out that this metric can be used to observe market trends and potential price movements: when unrealized profits are high, holders may be more willing to take profits, increasing the risk of a market pullback; when unrealized losses expand, it indicates that many traders have a cost basis higher than the current price, which may suggest that the market is approaching a bottom and could present potential buying opportunities. However, the reference value of this metric during bear markets is relatively limited.

Darkfost pointed out that as the mid-term momentum of Bitcoin turns positive, the area close to an MVRV of 1 may become an important decision zone for short-term holders. Investors may choose to continue increasing their holdings or may capitulate and sell due to a price decline.

On-chain analyst Murphy pointed out that as of October 31, the total supply of short-term holders (STH, entity-adjusted) of BTC is 2.2353 million, of which 1.147 million are in a state of loss, accounting for 51.3%. The holding cost of STH shows a bimodal structure, with 1.145 million concentrated in the high-cost area of $78,000-$86,000 (accounting for 51.2% of the total STH), and 556,000 concentrated in the low-cost area of $60,000-$65,000 (accounting for 24.9%).The reduction of low-cost chips in September was the fastest, with an average daily net decrease of 6,733 coins, which significantly slowed down in October. After the Binance security incident, a reversal occurred: the high-cost chips in the range of $78,000-$87,000, which had been continuously increasing, began to decrease, while the range of $75,000-$78,000 saw a net increase of 90,000 coins within two days. Analysts believe that the black swan event accelerated the turnover and repricing of chips, forming a certain support in the $75,000-$78,000 range, which helps alleviate panic and creates resistance to declines, but is still insufficient to confirm the strength to drive the next round of increases.

According to a post by Binance co-founder Zhao Changpeng, he is no longer operating Binance but remains a shareholder and supporter of the company and can post freely.Zhao Changpeng previously retweeted Binance's announcement that Bitcoin network withdrawals have resumed. X user Michael Lerro then questioned why Zhao Changpeng still behaves as if he is employed by the company since he no longer works for Binance, to which Zhao Changpeng made the above response.

According to Italian crypto media Criptovaluta.it, Italy is discussing the inclusion of an Exit Tax in the new annual budget bill, imposing a tax of up to 33% on unrealized capital gains for holders of crypto assets who move abroad. This tax obligation may arise even if the relevant Bitcoin or other crypto assets have not yet been sold.According to the disclosed draft, this regulation applies to individuals who have been tax residents in Italy for at least 6 out of the past 10 tax years, and whose total asset value reaches 800,000 euros. Taxable income is calculated based on the positive difference between the market value of the assets at the end of the tax year before the tax residency status terminates and the purchase cost.This Exit Tax is not only aimed at cryptocurrencies but also involves other categories of assets, with government bonds proposed to enjoy tax benefits. Currently, the relevant provisions are still in the draft discussion stage and have not yet received formal approval.

According to CryptoQuant analyst Axel Adler Jr., the price of Bitcoin is testing the cost basis of short-term holders (STH), with the accompanying image indicating that this level is around $75,900.He believes that the market's reaction to the Binance hacking incident has been relatively restrained; compared to the market reaction during the FTX collapse, Bitcoin is currently showing greater resilience.

Reserve tweeted that the RSR stolen in the Binance hot wallet security incident has been sold, and its contract was not affected, so RSR holders do not need to take any action.The attacker stole 3.38 billion RSR from Binance and exchanged all of it for 1,856 ETH (approximately 4.1 million USD) on Uniswap v3 between 20:53 and 21:08 (ET) on October 29. Reserve stated that, on-chain, the attacker no longer holds RSR.Since RSR is a non-fungible token and has no admin key, no one can freeze the token. Reserve has currently found no reason to suspend any products, and all products continue to operate normally.

According to Bitcoin Magazine, Fidelity Digital Assets reports that the unrealized profit metric for Bitcoin holders jumped from 0.09 to 0.36 last quarter."Historically, when Bitcoin's NUPL (Net Unrealized Profit and Loss) metric is around 0.36 (±0.05), the median return rate for the following year often reaches 93%."

CryptoQuant analyst Axel Adler Jr.'s latest report indicates that the rolling distribution volume of Bitcoin long-term holders (LTH) has decreased by 22% in the past week, showing that the potential selling pressure from long-term holders has eased.However, despite Bitcoin's price remaining above the average cost basis of long-term holders, their unrealized profit margin continues to narrow. Adler points out that the distribution activity of long-term holders has weakened, but the shrinking profit buffer is still worth noting.

On October 28, the payment network Visa released its performance for fiscal year 2026 and the fourth fiscal quarter. The fiscal year 2026 spans from October 1, 2025, to September 30, 2026, and the fourth fiscal quarter spans from July 1, 2026, to September 30, 2026.In fiscal year 2026, Visa's total operating revenue was $45.903 billion, a year-on-year increase of 15%; operating profit was $28.11 billion, a year-on-year increase of 17.15%; the operating profit margin was 61.24%, an increase of 1.25 percentage points year-on-year. The net profit attributable to the parent company was $23.504 billion, a year-on-year increase of 17%; operating cash flow was $23.728 billion. Basic earnings per share were $12.34, diluted earnings per share were $12.32, a year-on-year increase of 21%; the debt-to-equity ratio was 61.73%.In the fourth fiscal quarter, Visa's total operating revenue was $12.139 billion, a year-on-year increase of 13% and a quarter-on-quarter increase of 4.35%; operating profit was $7.262 billion, a year-on-year increase of 18.12%; the operating profit margin was 59.83%, an increase of 2.5 percentage points year-on-year. The net profit attributable to the parent company was $6.002 billion, a year-on-year increase of 18% and a quarter-on-quarter increase of 6.65%; both basic and diluted earnings per share were $3.19, a year-on-year increase of 22%; the debt-to-equity ratio was 61.73%.

CryptoQuant analyst Darkfost pointed out that short-term holders of Bitcoin (STH) have been in a profitable state on average for nearly two months, with an estimated cost basis of $76,500 and a current average profit margin of about 5.5%. Compared to less than a month ago when unrealized profits averaged as high as 20%, this level has significantly narrowed.The last time short-term holders had such high profits was shortly before the peak in October 2025, so the subsequent market consolidation is not surprising. Darkfost believes that short-term holder profits are still present, and the cost basis of $76,500 remains a noteworthy support level, with short-term holders likely to intervene here to defend the average entry price.

Strategy founder and chairman Michael Saylor posted that MSTR shareholders have approved the daily dividend amendment, with preliminary results showing 99.3% voting in favor. This amendment allows the four preferred stocks STRF, STRC, STRK, and STRD to accrue dividends on a daily basis.After the new regulations are implemented, every calendar day will be a dividend record date, and dividends will be paid on the next business day. The first record date and payment date for STRC are November 1 and November 2, respectively. The first record date and payment date for STRF, STRK, and STRD are January 1 and January 4 of next year, respectively.

According to Bitcoin Magazine, Patrick Lowry, CEO of Samara Asset Group, an asset management company that holds Bitcoin as a primary treasury reserve, expressed his dislike for the term "Bitcoin treasury company" and believes that the current market is rejecting all pure treasury strategies except for Strategy. He stated that "digital gold" is poor marketing, turning Bitcoin into an investment rather than a currency, which is also the reason for Bitcoin's price drop during discussions of interest rate hikes by the Federal Reserve.Lowry introduced that Samara uses Bitcoin as operating capital rather than merely holding it. The company allocates committed funds from its risk fund to Bitcoin and liquidates at market price when capital calls are needed, regardless of price fluctuations. He mentioned that holding Bitcoin presents a threshold yield issue, which could harm shareholder interests.He also discussed MSCI's decision regarding non-operating companies, loopholes related to the Investment Company Act of 1940, and the potential impact of a rebound in altcoin treasuries. Lowry criticized the regression of the European regulatory environment, mentioning BaFin, the first Bitcoin ETP, and the issues of excessive regulation in the post-Merkel era.

The storage chip manufacturer SK Hynix (SKHY.O) announced that its quarterly profit increased more than sevenfold year-on-year and announced an additional shareholder return plan worth 100 trillion won (approximately 75 billion USD) to be implemented in 2026. The company reported that its operating profit for the quarter ending in September reached 83.3 trillion won, exceeding the expected 76.7 trillion won; revenue rose to 104.6 trillion won, surpassing the expected 98.3 trillion won, with both metrics hitting historical highs for a single quarter.Driven by supply constraints, the company's operating profit margin remains at historically high levels. The company stated on Wednesday that it expects the shortage of storage chips to continue until 2030. The company's analysis suggests that the increasing technical difficulty of advanced processes and the long time required to build new semiconductor factories are limiting supply expansion. The company anticipates that in the short term, the application of artificial intelligence by businesses and consumers will drive storage demand, while in the medium to long term, physical artificial intelligence applications such as autonomous driving and robotics will become the driving force for demand growth.