[U.S. September Nonfarm Payrolls Report May Be Affected by Government Shutdown on Data Timeliness] The September nonfarm payrolls report, delayed due to the U.S. government shutdown, is scheduled to be released tonight. Economists expect an increase of 50,000 jobs, with the unemployment rate projected to remain at 4.3%. This report may be the last reliable employment report for the coming months, as the government shutdown has disrupted data collection and analysis for parts of October and November. Indeed Hiring Lab economist Allison Shrivastava believes that changes in the report may be limited, and the labor market's weakness is likely to persist. Pantheon Macroeconomics senior U.S. economist Oliver Allen stated that the data vacuum period could amplify any negative impacts.

[U.S. September Non-Farm Payroll Data and Unemployment Rate to Be Released Tonight] The September non-farm payroll data, delayed due to the U.S. government shutdown, will be released tonight at 21:30 (UTC+8). The U.S. Bureau of Labor Statistics has already completed data collection and statistical work, and the shutdown has not caused systemic impacts on data quality. The macroeconomic data to be released includes the September unemployment rate, September seasonally adjusted non-farm payroll employment, and initial jobless claims for the week ending November 15.

[Galaxy Releases Q3 Crypto Leverage Report: On-Chain Lending Hits Record High, Futures Liquidations Set New Record] Galaxy's Q3 2025 Crypto Leverage Report reveals that the total amount of crypto-collateralized loans surged to $20.46 billion, a quarter-over-quarter increase of 38.5%, reaching an all-time high of $73.59 billion. DeFi lending volume grew by $14.52 billion, reaching $40.99 billion. DAT total debt exceeded $12 billion, with $422 million added during the quarter. Futures open interest reached $187.79 billion at the end of September and peaked at $220.37 billion on October 6. A market crash on October 10 triggered forced liquidations of over $17 billion in futures positions, marking the largest single-day liquidation in history. Hyperliquid, Bybit, and Binance liquidated $10.08 billion, $4.58 billion, and $2.31 billion, respectively.

Monitoring shows that in the past 2 hours, a newly created wallet received 710 BTC worth approximately $65.68 million from BitGo. The funds were transferred from BitGo to the new wallet, but the specific purpose is not yet clear. （Onchain Lens）

[Vitalik Warns BlackRock and Other Institutions' Holdings Could Pose a Threat to Ethereum] Ethereum founder Vitalik Buterin stated at the Devconnect conference in Buenos Aires that if institutions like BlackRock continue to accumulate ETH, Ethereum could face two major existential threats. Currently, nine Wall Street firms hold over $18 billion worth of ETH, and analysts predict institutional holdings could exceed 10% of Ethereum's total supply. Vitalik highlighted two key risks: core developers being driven away, as institutional dominance might alienate builders focused on decentralization; and institutional pressure potentially leading to poor technical decisions, such as a 150-millisecond block time, which, while beneficial for high-frequency trading, could result in geographic centralization. Vitalik suggested that Ethereum should focus on its global, permissionless, and censorship-resistant protocol characteristics, while preserving its core community and decentralized values.