financial

According to Israeli media i24, Israeli Prime Minister Benjamin Netanyahu is seeking to develop a blockchain-based plan to address potential financial sanctions that Israel may face in the future. Currently, the specific details and implementation plan of the relevant proposal have not been disclosed.

The UK's Financial Conduct Authority (FCA) has launched two parallel consultations aimed at seeking industry input on the applicability boundaries of DeFi and its upcoming regulatory framework for crypto assets. Both consultations will close on November 18, 2026; the FCA plans to publish final guidance in January 2027 after reviewing feedback from various parties.The first consultation primarily targets FCA-regulated firms that use DeFi protocols or facilitate access to DeFi protocols. The guidance is not intended to introduce a new rulebook but aims to clarify how existing regulatory requirements should apply when firms provide services through highly automated, distributed ledger-based systems. The second consultation explores the scope of crypto asset regulation in the context of recent legislative changes (i.e., the "regulatory boundary").

According to market news, the Financial Services Commission of South Korea stated that it will study a plan to allow cryptocurrency exchanges to participate in the Security Token Offering (STO) market, including issues such as market environment, investor protection, integration of licensing systems, and dual operating licenses.The Chairman of the Financial Services Commission of South Korea, Lee Ik-hyeon, expressed support for the proposal to utilize existing exchange technology and trading infrastructure to develop the STO market, emphasizing the need to integrate the technology and trading infrastructure of existing exchanges into the token securities market.

The New York State Department of Financial Services in the United States has issued an alert regarding two critical PHP vulnerabilities, urging regulated entities to quickly identify and remediate known exploited vulnerabilities.

The Shanghai Financial Regulatory Bureau issued "Several Measures to Promote the High-Quality Development of Digital Finance in Shanghai's Banking and Insurance Industries," proposing to steadily expand supply chain financial services using technologies such as big data and blockchain.The measures propose to standardize the development of accounts receivable financing, supply chain bill financing, warehouse receipt pledge financing, order financing, and other products, while continuously deepening the insurance service layout for advanced manufacturing, enhancing comprehensive risk protection capabilities.

According to a report by the Korean News Agency, Lee Won-ik, Chairman of the Financial Services Commission, stated during a comprehensive inspection at the National Assembly's Political Affairs Committee regarding the taxation of virtual assets to be implemented next year, "Various circumstances need to be fully considered." On the same day, People Power Party member Song Yeon-sik questioned whether to abolish or postpone the taxation, stating that the nature of digital assets and policy direction have not yet been determined, and that the "Basic Law on Digital Assets" should be prioritized. Lee Won-ik responded that the relevant legislation on digital assets is in the final negotiation stage and discussions will be promoted as soon as possible; regarding taxation, opinions from various parties are diverse, and collection of opinions is still ongoing.The taxation of virtual assets in South Korea was introduced in 2020 through amendments to the Income Tax Act, having been postponed three times previously. The government is currently advancing administrative procedures according to the timeline for implementation in January next year, but some in the industry and even within the ruling party believe that due to unclear standards and insufficient infrastructure, the timing for implementation is not yet mature.

Meta announced its third-quarter 2026 performance early this morning Beijing time, with revenue of $64.601 billion, a year-on-year increase of 26%, exceeding market consensus expectations (approximately $63.3 to $63.7 billion). Net profit was $9.860 billion, a year-on-year increase of 264%, with a GAAP diluted earnings per share of $3.83.Operating profit decreased by 37% year-on-year to $12.988 billion, and the operating profit margin fell to about 20% (compared to about 40% in the same period last year), mainly due to a legal expense of $9.89 billion. This expense is related to the agreement reached with the attorneys general of various states in the U.S. regarding lawsuits related to youth mental health and social media, with a total payment cap of approximately $18.59 billion. Excluding this expense, operating profit was $22.88 billion, corresponding to an adjusted diluted earnings per share of approximately $7.40.The significant year-on-year growth in net profit was also influenced by the low base effect of the previous year's effective tax rate, which was as high as 87%; the effective tax rate for this quarter was 24%. Ad impressions increased by 10% year-on-year, and the average ad price rose by 14%. Family daily active people were approximately 3.64 billion, a year-on-year increase of 3%. Family of Apps revenue was approximately $64.16 billion, of which ad revenue was about $63.06 billion; Reality Labs revenue was approximately $443 million, with an operating loss of about $4.13 billion.Capital expenditures for the third quarter (including principal payments on finance leases) were approximately $34.9 billion, with free cash flow of negative $2.12 billion, and cash, cash equivalents, and marketable securities at the end of the quarter were approximately $82.4 billion. The company expects fourth-quarter revenue to be between $73 billion and $76 billion. The full-year capital expenditure guidance has been narrowed to $135 billion to $145 billion, and the full-year expense guidance has been raised to $175 billion to $179 billion, mainly due to the inclusion of legal expenses; excluding this expense, full-year operating profit is still expected to be higher than in 2025. The company also expects Reality Labs operating losses in 2026 to be approximately $18 to $19 billion, with hopes of narrowing next year.According to Gate market data, possibly influenced by the earnings report information, META's stock price rose by 2.17% in after-hours trading.

Tesla announced its third-quarter performance for 2026. The quarterly revenue was $28.046 billion, essentially flat year-on-year; the net profit attributable to common shareholders was $787 million, a decrease of about 43% year-on-year. GAAP diluted earnings per share were $0.22, down from $0.39 in the same period last year. Operating profit decreased by about 56% year-on-year to $718 million, with an operating profit margin of 2.6%, down 3.2 percentage points year-on-year. The company stated that increased R&D and other operating expenses, reduced regulatory credit income, and declining gross margins in the energy business put pressure on operating profit, with operating expenses rising by about 39%.Overall GAAP gross margin rose to 19.6%, an increase of about 1.6 percentage points year-on-year, and also higher than the previous quarter. The automotive gross margin, excluding regulatory credits, was about 18.1%, improving compared to the previous quarter and the same period last year. The number of vehicle deliveries for the quarter was 486,500, a decrease of 2% year-on-year; production was 464,400 vehicles, an increase of 4% year-on-year. Revenue from the automotive business decreased by about 3% year-on-year, while revenue from energy generation and storage decreased by about 16%, and service and other revenue grew by about 33%.Operating cash flow for the third quarter was $6.263 billion, and free cash flow was $1.531 billion, down from $3.990 billion in the same period last year. The company stated that battery supply continues to limit the increase in vehicle production; mass production of the Semi has started in Nevada, and production of Optimus has begun in Fremont, while Cybercab has been put into operation in the Austin Robotaxi fleet. According to BIT market data, SPCX fell 3.32% in after-hours trading.

Uniswap founder Hayden posted on the X platform that the first large transaction of UNI executed through regulated traditional financial channels has been completed, marking the first instance of a DeFi token executing a large transaction through this channel.

U.S. Treasury Secretary Becerra stated that the "GENIUS Act" is a watershed moment in the U.S. financial sector, further solidifying the United States' position as a global cryptocurrency hub.He pointed out that just as President Lincoln's National Currency Act of 1863 established a national framework for banks to issue currency, the "GENIUS Act" establishes a federal framework for payment stablecoins in the digital age.Becerra noted that the Office of the Comptroller of the Currency's (OCC) final rule advances the implementation of this landmark legislation, providing a clear and pragmatic foundation for private sector innovation, competition, and the United States' leadership in the digital asset space.

According to SpaceX (Nasdaq: SPCX) released third-quarter financial report for 2026, the revenue for the quarter was $14.6 billion, an increase of 161% compared to $5.6 billion in the same period last year; net profit was $4.4 billion, compared to a net loss of $1.1 billion in the same period last year. Adjusted EBITDA was $8.8 billion, a year-on-year increase of 306%; operating income was $2.8 billion, compared to a loss of $270 million in the same period last year.The Super Intelligent business generated revenue of $7.56 billion, a year-on-year increase of 830% and a quarter-on-quarter increase of 195%, mainly from the activation of cloud service agreements, the integration of Cursor, and the growth in adoption of Grok in both enterprise and consumer sectors. The operating income for this business was $431 million, which included $1.2 billion in equity incentive expenses related to the acquisition of Cursor, with nameplate computing power rising to 1.7 GW, compared to 0.6 GW in the same period last year. The Connectivity business generated revenue of $5.25 billion, a year-on-year increase of 69%, with operating income of $2.37 billion, a year-on-year increase of 99%; Starlink consumer subscription users reached 13.6 million, an increase of 1.6 million quarter-on-quarter, with an average monthly ARPU of $69, and over 3,800 aircraft equipped with Starlink.The Aerospace business generated revenue of $1.77 billion, a year-on-year increase of 6%. The company completed 12 customer launches during the quarter and accomplished the 14th flight of the Starship, which the company stated was the first revenue-generating Starship mission, sending 26 Starlink V3 satellites into orbit, with a downlink capacity approximately 10 times that of a single Falcon 9 Starlink launch. Capital expenditures for the quarter were $19.6 billion, of which the Super Intelligent business accounted for $16.4 billion, with a cumulative total of $48.1 billion for the first three quarters. As of September 30, cash and cash equivalents were $51.3 billion, marketable securities were $38.6 billion, total assets were $254 billion, and net fundraising from IPOs in the first three quarters was $85.68 billion.

South Korean JB Financial Group announced that it has invested in the artificial intelligence company Upstage through its subsidiaries Jeonbuk Bank, Gwangju Bank, and JB Woori Capital. The three institutions collectively invested 40 billion Korean won (approximately 30 million USD) in its C-2 round of financing, acquiring about 2% equity.Previously, Upstage co-founder and CTO Hwalsuk Lee revealed that the company is considering various capital market options, including an IPO, and is also contemplating initiating a Pre-IPO round of financing.

According to Crypto.news, Beast Holdings, associated with YouTube creator MrBeast, has submitted two U.S. trademark applications for MRBEAST FINANCIAL and BEAST FINANCIAL, covering financial services such as cryptocurrency trading, payment processing, decentralized exchanges (DEX), online banking, consumer loans, credit and debit cards, and investment management.

The Swiss Financial Market Supervisory Authority (FINMA) has approved the country's first Bitcoin ETF aimed at retail investors. This product falls under "other alternative investment funds" according to Swiss law and is labeled as having special risks. FINMA did not disclose the issuer of the fund, but multiple media outlets have indicated that signs suggest it may come from BIT Asset Management (formerly Matrixport Asset Management), and FINMA did not deny this claim in response to inquiries. Additionally, several fund providers have submitted or announced plans to submit Bitcoin ETF applications.The fund is a single-asset product, with all funds directed towards Bitcoin. To this end, FINMA needed to grant an exemption regarding its risk diversification rules, citing that Bitcoin has a long trading history and extremely high trading volume. In terms of asset custody, participating institutions must take measures to prevent operational and custody risks, with standards referenced from the regulatory announcement issued by FINMA on January 12, 2026, which requires that customer crypto assets are not included in bankruptcy assets in the event of the custodian's bankruptcy. Meanwhile, the sales process must comply with Fidleg's conduct rules to provide higher investor protection than direct purchases of cryptocurrencies, and the fund documents must clearly indicate the associated risks.While approving the ETF, FINMA emphasized that even investing in Bitcoin through an approved ETF carries high risks, with severe volatility potentially leading to significant depreciation of the principal invested, and required the issuer to provide clear warnings about volatility and loss risks. The United States has approved Bitcoin spot ETFs starting January 2024, with BlackRock's iShares Bitcoin Trust launching on January 11, 2024, currently managing approximately $65 billion. The Swiss Exchange has been able to trade Bitcoin products for years, but they have existed in the form of ETPs and do not have fund status; this approved ETF is the first to incorporate Bitcoin into the approved public fund framework.

BlockBeats published an in-depth article titled "All in One is the Only Way Out," focusing on the industry trend of cryptocurrency trading platforms transforming into comprehensive financial services, using Gate Money as an example to analyze the development potential of integrated global asset trading, daily payments, and wealth management.The article points out that as user demands extend from cryptocurrency trading to multi-asset allocation, cross-border consumption, and idle fund management, All in One is becoming an important direction for trading platforms to explore business growth. Gate currently supports over 5,400 digital assets and 12,800 stock assets, while Gate Money further integrates multi-currency accounts, exchanges, payments, and wealth management functions, supporting over 60 currencies and planning to expand services for stocks, ETFs, and gold. At the same time, the platform connects eligible stock assets with consumption scenarios through an automatic recharge feature, with Money Earn offering an annualized yield of up to 3.6%.BlockBeats believes that as financial demands become increasingly diversified, the ability to allow assets to flow freely between investment, management, and payment, while continuously meeting users' actual needs, will become an important direction for cryptocurrency platforms to build long-term competitiveness. Gate Money not only integrates product functions but also connects global assets with real financial needs, promoting cryptocurrency platforms to extend into broader and more frequent financial service scenarios, opening new space for the evolution of the global financial service landscape and long-term industry growth.

According to FNNews, South Korea's JB Financial Group announced that it is investing in the artificial intelligence company Upstage through its subsidiaries Jeonbuk Bank, Gwangju Bank, and JB Woori Capital. The three institutions collectively invested 40 billion Korean won (approximately 30 million USD) in its C-2 round of financing, acquiring about 2% equity.Previously, Upstage co-founder and CTO Hwalsuk Lee revealed that the company is considering various capital market options, including an IPO, and is also contemplating launching a Pre-IPO round of financing.

The U.S. Commodity Futures Trading Commission (CFTC) stated in its latest court filing that CME only claims increased competition without reasonably explaining the existence of imminent financial harm, which is insufficient to qualify for a lawsuit challenging its perpetual contract policy. The CFTC pointed out that after the policy adjustment, CME's cryptocurrency futures trading volume has actually increased.In May of this year, the CFTC approved Kalshi's first Bitcoin perpetual contract and stated that it would regulate such products on a case-by-case basis under futures regulations. CME, on the other hand, believes that perpetual contracts do not have an expiration date and should be classified as swaps rather than futures, subject to a different regulatory framework. Last month, the CFTC requested a federal judge to dismiss the case, and this filing further elaborated on its rebuttal to CME's standing in the lawsuit.The CFTC also noted that CME had previously informed investors that it had not heard customer demand for perpetual contracts, and that such products could not replace its existing futures, and that it should not take different positions in court and during earnings calls. TD Cowen policy analyst Jaret Seiberg believes that CME may still have the upper hand regarding its standing in the lawsuit and the argument that the products should be classified as swaps. However, he is concerned that if the perpetual contract market continues to grow during the litigation, it may become more complicated to dismantle this market if CME wins.

According to the Shenzhen Economic Investigation Bureau, recent investors have suffered financial losses due to participating in investment scams under the guise of "RWA real estate tokenization." These scams typically use technical packaging such as "smart contract automatic dividends" and "blockchain browser verifiable" to lure investors into purchasing fictitious on-chain fragmented property rights. Once the funds are in place, they stop paying dividends and disappear.The Shenzhen Economic Investigation Bureau pointed out that the smart contract address and company registration information can only confirm the existence of the code and the business entity, and do not represent a real binding of underlying physical assets, nor do they indicate that the project has financial business qualifications. According to current regulatory regulations in China, any tokenized financing activities carried out domestically under the name of RWA are considered illegal financial activities. Virtual currencies do not have legal tender status, and related token issuance, financing, and trading speculation are not protected by law.

During the opening ceremony of the 2026 Financial Street Forum Annual Conference, the Governor of the People's Bank of China, Pan Gongsheng, stated that the rapid development of artificial intelligence globally has a profound impact on productivity, investment, employment, income distribution, and financial stability.Pan Gongsheng mentioned that from the perspective of the People's Bank, they will closely monitor and assess the macroeconomic impacts of artificial intelligence development, ensure financial support for the development of the artificial intelligence industry, and steadily promote the application of artificial intelligence in the financial sector.