US stock market closes, Nasdaq down 2.3%

[Head of U.S. SEC Says Bitcoin Receives 'Official Recognition'] According to a report by Jinse Finance, the head of the U.S. Securities and Exchange Commission (SEC) stated during a national television broadcast that the U.S. has given Bitcoin 'official recognition' or a 'seal of approval'.

[Trump: High Tariffs on India to Remain Until It Stops Buying Russian Oil] U.S. President Trump stated that 'high' tariffs on India will remain until India stops purchasing Russian oil. (Watcher.Guru)

[Multiple Crypto Industry Executives to Hold Roundtable Meeting with Senate Democrats] According to crypto journalist Eleanor Terrett, on October 20, multiple crypto industry executives will hold a roundtable meeting on Wednesday with Senate Democrats who support cryptocurrency to discuss market structure legislation and future development directions. Participants include executives from companies such as Coinbase, Chainlink, Galaxy, Kraken, Uniswap, as well as the President of the Solana Policy Institute and Circle's Chief Strategy Officer.

BBX News: Last week, the total investment and strategic financing of global listed companies in the field of encrypted assets exceeded 700 million US dollars. The institutional layout focuses on three main lines: the construction of Bitcoin treasury, the increase of mainstream public chain holdings, and the tokenization of the gold ecosystem. ——Breakthrough in gold tokenization and mining cooperation: Delin Holdings (HKEX: 01709) and Antafa (NASDAQ: ANTA) have reached a strategic partnership, planning to invest up to $100 million in Bitcoin mining and XAU ₮ ecosystem in the next year, and have already purchased $5 million XAU ₮ through its subsidiary DL HODL Limited. ——Mainstream public chain holdings and staking gains: DeFi Development (NASDAQ: DFDV) increased holdings of 86307 SOLs, with a total holdings of 2.19 million; BitMine (NYSE: BMNR) added 200000 ETH during market correction; SharpLink Gaming (NASDAQ: SBET) has generated over 5200 ETH staking profits, totaling approximately $20 million. ——Bitcoin treasury expansion accelerates: Strategy (NASDAQ: MSTR) increases holdings of 220 BTC, with total reserves reaching 640000 BTC; ZOOZ Power（NASDAQ: ZOOZ）、The Smarter Web（AQUIS: SWC）、Matador（NASDAQ: MTDR） Both Jiuzi Holdings (NASDAQ: JZXN) and Jiuzi Holdings have made new purchases; AGAE, a subsidiary of Lianzhong (HKEX: 06899), has included BTC and ETH in its financial report for the first time. ——Financing and Innovation Payment: Zeta Network (NASDAQ: ZNB) raises $230 million through a financing agreement paid in Bitcoin, marking the first public company to do so; Cosmos Health (NASDAQ: COSM) and Ricoh Holdings (HKEX: 08472) are intensifying their digital asset strategy. The total weekly investment and financing amount of institutions has exceeded 700 million US dollars, and the allocation of cryptocurrencies is extending from asset holdings to ecological collaboration and physical tokenization. Source: bbx.com

[Over the past 7 days, Hyperliquid recorded a net outflow of $1.5 billion, with $1.46 billion flowing into Arbitrum] According to data from Artemis, in the past 7 days, the Hyperliquid blockchain recorded a net outflow of $1.5 billion, making it the chain with the largest outflow during the same period. Among this, approximately $1.46 billion flowed into the Arbitrum network. Meanwhile, Arbitrum achieved a total net inflow of $1.8 billion during the same period, ranking first among all blockchains. The data shows that the funds flowing out of Hyperliquid accounted for the majority of Arbitrum's net inflow, indicating that a significant amount of capital may have been transferred from Hyperliquid via the Arbitrum cross-chain bridge recently. This trend in capital flow is worth the market's attention.