Chip distribution: ETH is trading in the middle of the chip distribution area, currently in a relatively strong zone above the Proof-of-Capacity (PoC).

ICE, the parent company of the NYSE, deleted its tweet about the partnership with Trade.xyz, but retained a retweet of Trade.xyz's promotional material. Intercontinental Exchange (ICE) partnered with Trade.xyz to introduce perpetual contracts to a regulated U.S. market built on the Hyperliquid platform and using Trade.xyz's products, currently awaiting regulatory approval. (Source: Bloomberg)

Binance founder CZ tweeted a clarification, denying that he had threatened Musk with his holdings in SPCX. He emphasized that the statement was only to prove that Binance has sufficient funds, and pointed out that Binance's shareholding does not pose a threat to Musk. He also believes that SPCX is a high-quality stock to hold for the long term.

In the seven days ending October 29, Circle issued approximately 10.9 billion USDC and redeemed approximately 11.7 billion USDC, reducing the circulating supply of USDC by approximately 800 million. Currently, the total circulating supply of USDC is 70 billion, with reserves of approximately $71.4 billion, including approximately $32.9 billion in overnight reverse repurchase agreements, approximately $27.5 billion in Treasury bonds with maturities of less than three months, approximately $10.4 billion in systemically important institution deposits, and approximately $600 million in other bank deposits.

CZ clarified in a post on the X platform that he never indicated he intended to sell his SPCX shares. CZ previously mentioned holding SPCX to demonstrate that Binance holds other assets besides crypto assets, not to compare funds with FTX. CZ stated that the size of Binance's SPCX holdings poses no threat to FTX, and that the stock remains a high-quality asset worth holding for a long time to come. He also urged the public not to portray this as confrontation. Previously, CZ had told Musk that Binance's $500 million investment in Twitter was now worth over $1 billion.

[Musk: Orbital Computing Power Will Surpass Ground Computing Power by the End of 2028] Sequoia Capital partner Shaun Maguire released a financial model for SpaceX, predicting that SpaceX's revenue will be approximately $51.5 billion in fiscal year 2026, approximately $270 billion in fiscal year 2027, and over $700 billion in fiscal year 2028. Musk responded that ground computing power is negligible compared to orbital computing power, and that the monthly deployed orbital computing power is expected to surpass ground computing power by the end of 2028, and far exceed ground computing power in 2029.