Justin Sun: Li Lin Once Concealed Due Diligence Materials, I Lent the Company $30 Million to Fill the Gap

On US midterm election voting day, US stocks rebounded, with artificial intelligence-related sectors leading gains. Data from BIT Stock Platform shows: the S&P 500 rose 0.36%, the Nasdaq gained 0.83%, while the Dow Jones Industrial Average fell 0.38%; the Philadelphia Semiconductor Index climbed 2.64%, ending three consecutive trading days of losses. Morgan Stanley believes the election has helped eliminate a major uncertainty facing the market, noting that the US stock correction that began in June has entered its "final stage". Chip stocks rallied broadly: Nvidia rose 2.29%, returning its market capitalization above $5 trillion; Micron Technology gained 2.58%, SanDisk advanced 4.78%, and Broadcom climbed 3.07%. Computing power leasing stocks saw larger gains: CoreWeave rose 7.16%, Nebius jumped 7.25%, and Applied Digital surged 9.80%. Goldman Sachs' trading desk pointed out that the S&P 500's rally is still mainly driven by heavyweight stocks, with narrow market breadth. AMD closed up 3.65% in regular trading; its after-hours release showed Q3 revenue rose 45% year-on-year, data center revenue nearly doubled, and Q4 revenue guidance hit a new high, leading to a 7.6% rise in after-hours trading. On the macro front, US September JOLTS job openings rose to a four-month high, while layoff numbers declined. The stronger-than-expected jobs data pushed US Treasury yields higher: the 10-year yield rose 5.36 basis points to 4.948%, and the 2-year yield increased 3.13 basis points to 4.614%. In the crude oil market, WTI crude futures settled down 0.38% at $96.09 per barrel, and Brent crude futures fell 1.12% to $103.60 per barrel. Reports of possible progress in US-Iran talks briefly pushed WTI below $94, but Iran's Foreign Ministry stated there was no new progress in the negotiations, causing oil prices to trim their losses. Brent's spot premium over futures narrowed from around $30 in early October to approximately $3.70.

According to Bloomberg, Block disclosed in regulatory filings that the company reached a preliminary agreement with the U.S. Department of Justice (DOJ) in October over a years-long anti-money laundering (AML) investigation. Under the proposed deferred prosecution agreement (DPA), the DOJ will defer prosecution for three years on charges that Block violated the Bank Secrecy Act and failed to maintain an effective AML framework. The agreement remains subject to court approval. Regulatory filings show the total value of the agreement is approximately $964 million, with Block expecting a net payout of around $764 million. The company has raised its related reserve from $526 million at the end of June to $764 million at the end of September.

According to a no-action letter issued by the U.S. Securities and Exchange Commission (SEC) Division of Corporation Finance on November 3, the division, based on facts submitted by the applicant, views Canton Coin (CC) as a digital commodity. The division noted that CC derives its value from the programmed operation of the Canton Network and market supply and demand, rather than the expectation of profit dependent on others’ management activities; the network also does not have a "central entity" as defined in relevant guidance. If super validators, validators, and application providers mint CC in accordance with the manner and conditions outlined in the application letter and based on legal counsel’s advice, the division will not recommend the SEC take enforcement action, even if CC is not registered under Section 5 of the Securities Act or Section 12(g) of the Securities Exchange Act. The letter only reflects the staff’s enforcement position under specific facts and does not constitute a legal conclusion on whether CC is a security. Miles Jennings, a partner at a16z, welcomed this stance, stating it could provide a regulatory reference for tokens of other blockchain networks.

According to CNN, top House Democratic officials believe they will take control of the U.S. House of Representatives tonight, securing a more solid majority than the narrow majority held by Speaker Mike Johnson. House Democratic Leader Hakeem Jeffries is reluctant to jump to conclusions, stating the Democrats will win at least 218 seats — the threshold for a House majority. However, two senior Democratic sources told CNN the party will ultimately win between 230 and 235 seats. A "landslide" victory could see Democrats take as many as 240 seats, though the party views that outcome as far less likely than the 230-235 seat range. Jeffries, meanwhile, is more cautious. According to a source familiar with the matter, Jeffries traveled from New York to Washington D.C. that day to have lunch with party officials. The crab house where they dined is the same establishment where Democrats ate on Election Day 2018 — the last time the party won control of the House under President Donald Trump, when they gained 41 seats in a single sweep.

Local time on the 3rd, Iranian authorities said no new progress has been made in the ongoing Iran-US talks. Separately, various Iranian figures have issued frequent statements, conveying Tehran’s hardline stance: "Iran will never surrender", "The US must respond fully and clearly to Iran’s seven proposed conditions and implement them before the Strait of Hormuz will be opened", "Iran is combat-ready and on the highest level of defense alert". On the same day, Qatari officials said the US and Iran are reviewing a proposal put forward by the mediator, with both sides remaining willing to continue negotiations, though differences remain to be bridged and no specific progress can be announced as yet. An informed source added that Qatari mediators are expected to receive feedback from Washington and Tehran on a new proposal within the next 36 hours. US President Donald Trump said he does not rule out taking military action against Iran after the midterm elections. (CCTV)

According to an official announcement, Coinbase announced that it will add CARD, the token of Solana-based physical trading card platform Collector Crypt, to its token listing roadmap.