Tech giants' earnings reports failed to alleviate investor concerns about the return on investment in AI infrastructure, with the Nasdaq 100 index falling 6.7% in October, its worst monthly performance since March 2025. Amazon, Meta, and Alphabet all reported free cash flow deficits this quarter, with Amazon's deficit nearing $35 billion, while Microsoft's free cash flow was positive at $18.6 billion. Alphabet's free cash flow has been negative for two consecutive quarters, Meta's future spending commitments rose to $825 billion, and Alphabet's future spending obligations exceeded $1 trillion. ServiceNow, Twilio, and Fortinet saw their stock prices fall due to weaker-than-expected earnings guidance, with investors worried that products like Anthropic and OpenAI are eroding software companies' profit margins. (Source: Bloomberg)

Binance's SAFU fund address transferred a total of 7,500 BTC in three transactions at 10:30 AM and 10:48 AM. The address currently has a balance of 7,500 BTC, worth approximately $580 million.

[He Yi: Proof of Reserves Will Be Provided Again After Other Altcoin Assets Are Supplemented] Binance co-founder He Yi stated that proof of reserves will be provided again for users to verify after other altcoin assets are supplemented. Binance is currently supplementing other altcoin assets that are not yet fully matched, and the 10 tokens that have completed the proof of reserves snapshot are expected to be available for holders to verify after the full zero-knowledge proof is generated.

A Bitwise report shows that Ethereum staking reached 43.8 million ETH, accounting for 35.9% of the total supply, with a net inflow of 1.99 million ETH in the third quarter; active staking on Solana increased to 440.5 million SOL. The average annualized staking yield for Ethereum in the third quarter fell to 2.63%, while the gross staking yield on Solana fell to approximately 6%. Coinbase stated that it is expanding participation channels for staking ETFs and digital asset vaults. Kean Gilbert, Head of Institutional Relations at the Lido Ecosystem Foundation, pointed out that liquidity remains a constraint for institutions, as funds typically need to retain a portion of unstaking assets to meet redemption demands; the average staking ratio for related products in Europe is only 50% to 60%.

[He Yi: Binance Has Allocated $6.34 Billion in Company Funds to User Pools] Binance co-founder He Yi stated that Binance has allocated $6.34 billion in company funds to user pools, achieving 100% reserve coverage for BTC, ETH, USDT, BNB, SOL, USDC, XRP, USD1, RLUSD, and ZEC. Binance will continue to purchase other assets that are not yet fully matched through the market and OTC trading until all tokens reach 100% coverage. The reserve proof snapshot has been completed, and the complete zero-knowledge proof is expected to be generated on November 3rd.