US Treasury Secretary Bessent stated that a significant amount of tax refunds will be issued in early 2026. （Watcher.Guru）

[Analyst Says Fed Rate Cuts May Lower Hedging Costs, Dollar Could Fall Next Year] ING analyst Chris Turner stated in a webinar that expectations of further rate cuts by the Federal Reserve could lower hedging costs, potentially leading to a decline in the dollar next year. He noted that lower interest rates would make it cheaper for European investors to hedge U.S. asset costs, which could increase the hedging ratio of dollar assets and weigh on the dollar exchange rate. ING expects the Federal Reserve to cut rates by 75 basis points and predicts that the euro will rise to 1.22 by the fourth quarter of 2026, driven by expectations of German fiscal stimulus or accelerated economic growth in the eurozone.

[U.S. Treasury Secretary Besent Announces Major Tariff News to Be Released in the Coming Days] On November 12, U.S. Treasury Secretary Besent stated that major tariff news will be announced in the coming days.

[She Zhijiang Extradited to China for Illegal Blockchain Financing and Gambling Crimes] On November 12, Cambodian-Chinese She Zhijiang (also known as She Lunkai, Tang Kriang Kai) was escorted by Thai police to Bangkok's Suvarnabhumi Airport and extradited to China for involvement in illegal blockchain financing and gambling crimes. She Zhijiang had previously created and operated 239 illegal gambling websites, with funds involved exceeding 12.63 trillion Thai baht (approximately 2.77 trillion RMB). He engaged in gambling and telecom fraud activities in Myanmar's Myawaddy KK Park and 'Asia Pacific New City.' He had used blockchain technology financing as a guise for conducting illegal transactions.

[J.P. Morgan Rates COIN, MARA, and RIOT Stocks as Overweight] J.P. Morgan analysts have rated COIN, MARA, and RIOT stocks as Overweight, believing these stocks will outperform the broader market. Specific ratings are as follows: COIN current price $305.84, target price $399; MARA current price $14.68, target price $20; RIOT current price $16.05, target price $19.