Author: Deep Tide TechFlow
Market dynamics yesterday
Trump signs bill, U.S. government shutdown declared over
According to Jinshi Data reports, U.S. President Trump has signed a temporary funding bill, marking the end of the longest government “shutdown” in U.S. history. The bill will provide ongoing funding for the federal government, allowing most government agencies to receive operating funds until January 30, 2026.
The US October CPI was not released as scheduled.
The U.S. Bureau of Labor Statistics failed to release the October CPI report as scheduled. Previously, the White House had issued a warning: due to the government shutdown, investigators were unable to be deployed on-site for data collection, and the October non-farm and inflation data may never be released. The U.S. government ended the shutdown on November 12 local time, federal workers will return to work on November 13, and the U.S. Bureau of Labor Statistics will also release September economic data after the government reopens.
White House National Economic Council Director Hassett: Sees little reason not to lower interest rates.
White House National Economic Council Director Hassett: There are not many reasons to see interest rates not being lowered.
Supreme Court: Increase the crackdown on upstream illegal activities in black and gray industries, focusing on the disposal of virtual currencies involved in cases.
According to Caixin, combating and governing cybercrime has become a global challenge. The eighth national criminal trial work conference held on November 13 emphasized maintaining cybersecurity, proposing specific requirements from three aspects: focusing on new issues such as the disposal of virtual currencies involved in cases, obscene performances in online live broadcasts, jurisdiction over cybercrime cases, and the certification of electronic data evidence, further improving judicial rules, standardizing judgment criteria, and promoting the lawful and civilized use of the internet; severely cracking down on cross-border online gambling crimes in accordance with the law, holding criminal responsibility for online platforms that provide services for overseas gambling and disseminate harmful information related to gambling, and cooperating with relevant departments to rectify online gambling promotion chains; increasing efforts to combat upstream illegal activities in the black and gray industries that infringe on citizens' personal information, strictly punishing “insiders” in the industry, applying employment bans in accordance with the law, and pushing for the enforcement of regulatory responsibilities on internet platforms.
Taiwan is studying the incorporation of BTC into its strategic reserves, planning to use confiscated BTC as a pilot holding source.
According to Bitcoin Magazine, Taiwan is studying the use of Bitcoin as a strategic reserve and plans to draft relevant regulations to support Bitcoin, while piloting Bitcoin inventory holdings, initially using confiscated Bitcoin from “wait auctions” as a source for pilot holdings.
dYdX community vote passed: the protocol fee buyback ratio has been significantly increased from 25% to 75%
The decentralized trading platform dYdX announced that, based on the results of a community vote, it will increase the protocol fee ratio used for the repurchase of $DYDX tokens from 25% to 75%. This policy took effect today, meaning that 75% of the fees collected by the protocol will be used directly to repurchase DYDX tokens on the open market.
The Ethereum Foundation and Vitalik released the “Decentralization Manifesto” and deployed it on-chain.
The Ethereum Foundation's Account Abstraction team, along with Vitalik Buterin, officially released the “Trustless Manifesto” and deployed it to the on-chain address trustlessness.eth.
The declaration outlines the core values of Ethereum, emphasizing that the purpose of its creation is not to enhance financial efficiency, but to enable people to coordinate without the need for trusted intermediaries. The declaration specifies four core principles: trustworthy neutrality, self-custody, verifiability, and resistance to “convenient” centralization.
It is reported that these concepts are things that the team has been discussing for many years but has never explicitly documented. By deploying the declaration on-chain, the team hopes to ensure that these values can withstand the tests of forks, speculation, and exit liquidity, becoming a lasting statement of commitment.
Bank of New York Mellon launches a money market fund designed specifically for stablecoin issuers.
According to reports from US media, Bank of New York Mellon is launching a money market fund specifically tailored for stablecoin issuers, who must comply with the recently signed US stablecoin law. The bank's BSRXX is one of the first funds designed specifically for stablecoin providers, aimed at providing them with an investment venue where they can deposit the funds received when issuing new tokens, while complying with the GENIUS Act, which was signed into law by Trump earlier this year. This law requires issuers of dollar-backed digital tokens to invest their reserves in ultra-safe investments with shorter durations than traditional money market funds. Stephanie Pierce, deputy head of BNY Mellon Investment Company, stated that the design of the new fund aims to meet the law's requirements by holding only securities with maturities of 93 days or less.
Metaplanet's net profit for the third quarter reached 12.7 billion yen, with net assets increasing by 165% quarter-on-quarter.
According to Metaplanet Inc., the Japanese listed company announced its financial performance for the third quarter of 2025. The financial report shows that the company's net profit reached 12.7 billion yen, and its net assets amounted to 532.9 billion yen, a significant increase of 165% compared to the previous quarter's 201.0 billion yen.
In terms of revenue, Metaplanet's sales in the third quarter reached 2.401 billion yen, a quarter-on-quarter increase of 94%; operating profit was 1.339 billion yen, a quarter-on-quarter increase of 64%.
Investment app Public acquires Alto's crypto business for $65 million.
According to Fortune magazine, investment app Public has acquired the cryptocurrency business of crypto IRA provider Alto for $65 million in cash and stock. Alto is a company that allows users to add alternative assets to their retirement accounts, managing approximately $600 million in assets. Under the agreement, Public will fully integrate Alto's cryptocurrency accounts by 2026, while Alto will continue to operate as a service provider. Alto will continue to independently run its other businesses, including investment projects such as private credit and venture capital.
Grayscale will apply for an IPO.
According to market news, Grayscale Investments Inc. has submitted its initial public offering (IPO) application to regulatory authorities.
Market Dynamics
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