Changpeng Zhao: The recovery of token assets appears to have begun.
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Binance founder Changpeng Zhao stated that the token asset recovery process appears to have begun. Users pay transaction fees in the cryptocurrency they trade on Binance, thus allowing Binance to naturally accumulate its listed tokens.
On October 30, US semiconductor stocks fell sharply, with the Philadelphia Semiconductor Index dropping 5.67%. Intel fell over 26%, AMD fell over 10%, SanDisk fell 8.38%, SK Hynix fell 6.93%, Micron Technology fell 5%, Nvidia fell 2.51%, TSMC fell 3.69%, and the 3x Long Semiconductor ETF (SOXL) fell over 20%.
Federal Reserve official Barkin stated that investments in artificial intelligence are causing demand-side inflation, a situation that is within the Fed's control.
SpaceX shares fell more than 5% to their lowest level since August. Nvidia shares dropped 3.3% to $206.61 per share, giving it a market capitalization of $4.98 trillion. Since the beginning of the month, Nvidia shares have fallen more than 9%.
Cryptocurrency stocks generally fell after the US stock market opened. Strategy fell 8.05% to $130.23, Robinhood fell 7.94% to $84.32, Coinbase fell 7.75% to $148.15, Circle fell 7.23% to $74.21, and BitMine fell 5.86% to $20.39. The three major US stock indices all declined during the same period. (Source: Nasdaq)
U.S. stocks opened lower, with the Dow Jones Industrial Average down 0.2%, the S&P 500 down 1.1%, and the Nasdaq Composite down 2.2%. Intel (INTC.O) plunged 25.7%, Amazon (AMZN.O) fell 5.3%, Nvidia (NVDA.O) dropped 2.5%, Nebius (NBIS.O) declined 7.3%, and ExxonMobil (XOM.N) rose 1.5%.
