Galaxy's Head of Research: Bitcoin Rises Above 50-Week Moving Average, May Signal Bottom Confirmation

According to Reuters, citing two sources familiar with the matter, the U.S. Commodity Futures Trading Commission (CFTC) is again investigating Polymarket for potential violations of its 2022 settlement agreement, focusing on whether the platform has taken sufficient measures to block U.S. users from accessing its overseas main platform. The agency previously closed a similar probe in 2025 without filing charges. This latest review is part of a broader investigation launched by the CFTC earlier this year, covering Polymarket’s controls for verifying customer locations and its U.S. advertising campaigns. One source said the review centers on the company’s past controls and processes. The CFTC is also examining Polymarket’s customer onboarding procedures and consumer protection measures for its U.S. platform. Under the 2022 settlement, Polymarket agreed to stop serving U.S. users. In 2024, the CFTC and the U.S. Department of Justice launched separate related probes, and the FBI searched CEO Shayne Coplan’s New York residence that November. In July 2025, Coplan announced both investigations had concluded. Afterward, the company acquired a CFTC-licensed derivatives exchange and gradually rolled out its U.S. platform by the end of that year. Polymarket has previously stated it has improved its controls, explicitly prohibiting users from using tools like VPNs to bypass geographic restrictions, and has mechanisms to monitor misconduct and block restricted users from accessing its overseas platform. In April this year, U.S. prosecutors charged a service member with using insider information to place bets on Polymarket’s overseas platform, profiting $400,000; the indictment alleged he used a VPN to bypass restrictions. The defendant has denied the charges, and Polymarket said at the time it had referred the matter to relevant authorities.

SK Hynix (SKHY) posted third-quarter revenue of 104.6 trillion Korean won, above the market consensus of 98.3 trillion won. The company’s Q3 net profit stood at 39.5 trillion won, missing the market forecast of 55.4 trillion won, while operating profit hit 83.3 trillion won, beating the 76.7 trillion won expectation.

SK Hynix plans to return approximately 100 trillion won to shareholders by 2026. The company intends to offer over 30 trillion won in cash dividends, repurchase and retire more than 60 trillion won worth of its own shares, and distribute a quarterly cash dividend of 20,000 won per share in the third quarter.

According to data from the BIT Stock Platform, U.S. stocks closed on Tuesday (October 27), with the Dow Jones Industrial Average rising 0.03%, the S&P 500 gaining 0.60%, and the Nasdaq Composite advancing 1.18%. Neocloud-related stocks rallied across the board: Nebius (NBIS) jumped 11.22%, Cipher Digital (CIFR) rose 9.99%, Galaxy Digital (GLXY) gained 9.57%, Applied Digital (APLD) climbed 9.42%, CoreWeave (CRWV) advanced 7.94%, and IREN increased 7.90%. Most optical communication concept stocks strengthened: Credo (CRDO) surged 10.77%, Astera Labs (ALAB) rose 10.47%, Applied Optoelectronics (AAOI) gained 6.96%, Coherent (COHR) climbed 6.38%, and Lumentum (LITE) advanced 5.88%. Storage stocks rallied across the board: Western Digital (WDC) rose 6.95%, SanDisk (SNDK) gained 3.92%, Seagate Technology (STX) advanced 3.67%, Micron Technology (MU) climbed 2.77%, and SK Hynix (SKHY) increased 1.92%. Semiconductor stocks also moved higher in tandem: AMD rose 5.45%, Marvell Technology (MRVL) gained 4.19%, Broadcom (AVGO) advanced 4.00%, Intel (INTC) climbed 3.61%, and both TSMC (TSM) and ASML rose 2.94%.

SK Hynix stated that the average selling price (ASP) of DRAM in the third quarter rose by over 20% quarter-on-quarter. It projects that DRAM market demand will grow by more than 20% year-on-year in 2027, and capital expenditure in 2027 will increase significantly compared to 2026. Long-term agreements (LTAs) for 2027 and 2028 have locked in supply volumes exceeding 50% of total production capacity.

Cancore, a trading platform built on the Canton Network, has closed a $7.2 million seed funding round. The platform is designed to bridge assets on the Canton Network with liquidity on public blockchains. Participating in the round are Paper Ventures, dao5, ArkStream Capital, X Ventures, MH Ventures, and Proof of Talk. Wasif Rashid, co-founder and CEO of Cancore, stated that no formal lead investor was named in the round, though Paper Ventures and dao5 secured the largest allocations. The funding was executed via a Simple Agreement for Future Tokens (SAFT), with a fully diluted valuation of $60 million corresponding to Cancore’s planned CNRX token issuance, Rashid added.