Morgan Stanley recaps the US stock market crash, revealing that leveraged ETFs saw $57 billion in selling.

On November 5th, the net leverage ratio of US long-short hedge funds fell by 5% in a single day, marking the fifth largest single-day decline since 2010. Since June, the total exposure reduction from active trading by long-short funds is equivalent to 10.7% of the total market value of their holdings at the end of June, the largest decrease in at least 10 years. Hedge funds are currently underweight AI stocks relative to market capitalization, but AI stocks still account for 32% of their absolute exposure. On that day, leveraged ETF selling reached its highest level since data became available in 2007, resulting in a $57 billion supply of US stocks sold. Within the first 90 minutes of trading, retail investor selling of US stocks was the second largest since 2016. Stock trading correlations are beginning to rise.

Binance QNT/USDT perpetual futures trading volume surged 5 times within 10 minutes, with a 24-hour trading volume of $39.88 million, representing a 2.35% decrease. A surge in trading volume generally indicates increased market activity or large-scale buying and selling operations, which may be caused by some important market changes or news announcements. According to AiCoin data, Binance Futures ranks No. 1 globally.

Web3Auth updated the Keplr wallet security incident on the X platform, and the team is assisting in transferring affected assets to secure recovery wallets. Because some transfers were mistakenly identified as attack activity, Web3Auth released verified recovery wallet addresses, covering EVM addresses for networks including Cosmos Hub, Osmosis, Celestia, Akash, Noble, Injective, dYdX, Babylon, Axelar, Saga, and Agoric, as well as eight blockchains. Web3Auth states that the relevant addresses are used for secure asset transfer and are not controlled by attackers. More verification addresses will be added later, and users are reminded to be wary of scams impersonating official sources and fake asset recovery requests.

The official website for JD Coinlink appears to be offline and is currently inaccessible. According to Qichacha, the business registration information for JINGDONG Coinlink Technology Hong Kong Limited shows that the company is still registered. JD.com previously announced the issuance of a stablecoin in Hong Kong pegged 1:1 to the Hong Kong dollar (HKD). JINGDONG Coinlink Technology Hong Kong Limited participated in the Hong Kong Monetary Authority's stablecoin issuer "sandbox" program but was not included in the first batch of licensed stablecoin issuers.

A report released by Galaxy Research states that if Democrats win both houses of Congress, the crypto industry will face stricter congressional oversight, with Elizabeth Warren potentially becoming chair of the Senate Banking Committee and Maxine Waters potentially leading the House Financial Services Committee. Galaxy Research Director Alex Thorn predicts that progress on key digital asset legislation in the U.S. Congress will stall and will not yield substantial results. The U.S. Securities and Exchange Commission (SEC), the Commodity Futures Trading Commission (CFTC), and banking regulators can still formulate and clarify regulatory rules for crypto assets under existing legal authorization.