BREAKING: $435 million has been liquidated from the cryptocurrency market in the past 12 hours.

With two weeks remaining until the U.S. midterm elections, the Republican Party faces a tough political landscape. According to a joint poll by The Washington Post, ABC News, and Ipsos, U.S. President Donald Trump’s approval rating has hit a new low, while the Democratic Party is gaining ground in the battle for congressional control amid rising inflation and growing voter discontent. Trump’s current approval rating stands at 33%, with a disapproval rate of 66%; 52% of respondents strongly disapprove of his performance. This approval figure is 8 percentage points lower than the same period last year, and is also lower than at any point during his first term. The poll also found that for the first time in over a decade, Democrats now hold higher voter trust than Republicans on economic governance issues. Overall results from the new poll show that U.S. voters have lost confidence in the president, are deeply concerned about Trump’s decision to launch a war against Iran, and are bearing the economic impacts of the conflict—particularly the strain rising gasoline prices are putting on household finances.

Market data shows that Unitree’s stock has risen by more than 10%, currently trading at 472 yuan, with a trading volume exceeding 1.5 billion yuan.

According to Bitget market data, Changxin Technology (688825) saw its stock drop more than 8% at the opening, touching a recent low of 41 yuan. As of press time, the stock is down 6.5% at 42.1 yuan. On the news front, Changxin Technology announced on October 16 that it expects its first three-quarter revenue to reach 265 billion to 270 billion yuan, a year-on-year increase of 232.916 billion to 237.916 billion yuan. It also projected net profit attributable to parent shareholders to be between 131 billion and 132.5 billion yuan, up 136.28 billion to 137.78 billion yuan year-on-year. For the same period last year, Changxin Technology (688825) posted revenue of 32.084 billion yuan and a net loss of 5.28 billion yuan attributable to parent shareholders. The company further announced that its chairman Zhu Yiming has proposed a share buyback worth 10 billion to 20 billion yuan, to be used for employee equity incentives, employee stock ownership plans, or registered capital reduction.

China's Ministry of Commerce and 8 other departments have issued the Opinions on Accelerating the Advancement of Technology-Driven Commerce. The document proposes promoting the iterative upgrading of commodity supply, in-depth implementing the "AI + Manufacturing" special initiative, accelerating the deep integration of artificial intelligence technology with product R&D, design, manufacturing and marketing, and enriching the supply of smart commodities including smartphones, computers, home appliances, wearables and robots. It also encourages the R&D and application of smart products based on secure and reliable open-source operating systems, accelerates the transformation and upgrading of time-honored classic industries to develop renowned high-quality products, builds a contingent of Chinese consumer renowned products by tapping into consumer goods with independent innovation and high quality, vigorously develops technology-driven agriculture to improve the quality and efficiency of high-quality characteristic agricultural products, and promotes the development of time-honored brands through upholding their core values and pursuing innovation, supporting such enterprises to use modern production technologies for product innovation.

US Ambassador to the European Union Andrew Puzder has warned that if the EU moves forward with plans to restrict U.S. competitors such as SpaceX from accessing certain European markets, European firms will face "devastating" retaliation from Washington. The remarks follow the European Commission's earlier proposal to reserve some spectrum resources for domestic European enterprises for smartphone direct satellite connectivity — a move that would limit frequencies available to SpaceX (operator of the Starlink network) and some Chinese companies. Puzder noted that given the sheer size of the U.S. market, European companies "should be alert to this scenario unfolding, as it would be devastating for them. You cannot make European firms more competitive by undermining the competitiveness of U.S. companies."

Strategy CEO Michael Saylor outlined his vision for a "perfect" digital currency at ParaFi Investor Day: a dollar-pegged stablecoin backed by Bitcoin that would generate roughly 6% to 8% returns. He noted this would be the next step for digital capital and digital credit products.