MANTRA DAO Initiates Survey Vote to Solicit Feedback on Team Token Burn Execution

According to BIT (bit.com) market data, Meta’s shares fell more than 6% in early trading, erasing $100 billion in market capitalization. Meta disclosed its future payment commitments as of the end of September stood at approximately $825 billion, a sharp jump from $700 billion in July, covering $355.7 billion in data center leases and $454.5 billion in cloud computing and other contracts. On Thursday, its 5-year CDS price climbed to around 119.3 basis points, hitting the highest level since its listing, with its bonds significantly underperforming U.S. Treasuries. CDSs of Oracle, Microsoft, and Broadcom also rose in tandem, as caution over debt risks in the tech sector continues to spread.

Crypto custody and stablecoin infrastructure firm Fireblocks has denied a prior Axios report claiming Visa was in late-stage talks to acquire the company for roughly $2.5 billion, stating "This is news to us and is not true at this time." Visa declined to comment on rumors or speculation. Earlier reports had alleged that Visa was in acquisition discussions with crypto asset custody infrastructure provider Fireblocks, with a deal valued at approximately $2.5 billion. If completed, the transaction would further expand Visa’s presence in digital asset custody and blockchain payment infrastructure.

According to market data from BIT (bit.com), US stocks opened lower, with the Dow Jones Industrial Average down 0.13%, the S&P 500 index falling 0.88%, and the Nasdaq down 1.5%. Leading tech stocks saw broad declines, with SpaceX dropping 4%, Tesla down 2.87%, Meta Platforms down 4%, IBM down 2.5%, Nvidia down 2.1%, SK Hynix down 4.5%, SanDisk down 4.8%, and Micron down 3.8%.

According to market data from BIT (bit.com), all sectors including semiconductors and storage, crypto-related stocks, and optical communications declined at the opening of U.S. stock trading. Semiconductors and storage: Seagate (STX) down 4.69%; Western Digital (WDC) down 5.77%; SanDisk (SNDK) down 4.79%; Micron (MU) down 3.05%; NVIDIA (NVDA) down 2.08%; Intel (INTC) down 5.83%; AMD (AMD) down 5.82%. Crypto-related stocks: Strategy (MSTR) down 5.00%; Coinbase (COIN) down 3.83%; Circle (CRCL) down 5.08%; BitMine (BMNR) down 4.20%; SharpLink (SBET) down 4.85%. Optical communications sector: FOTO (FOTO) down 6.30%; Marvell Technology (MRVL) down 6.04%; Applied Optoelectronics (AAOI) down 7.73%; Lumentum (LITE) down 6.95%; Coherent (COHR) down 7.33%; Ciena (CIEN) down 6.32%; Fabrinet (FN) down 6.09%; AXT (AXTI) down 8.97%.

According to market data from BIT (bit.com), US-listed space-themed stocks were broadly down at the start of pre-market trading, with SpaceX falling 4.38%, Rocket Lab down 3.64%, Planet Labs dropping 2.92%, AST SpaceMobile declining 4.77%, and Intuitive Machines down 3.85%.

Last week, the number of new US jobless claims fell to its lowest level in nearly 57 years, with layoffs easing and the labor market stabilizing. Data from the US Department of Labor shows that for the week ending October 17, initial state unemployment benefit claims dropped by 6,000 to a seasonally adjusted 194,000. This figure is approaching the 189,000 level hit in mid-July, marking the lowest since 1969. Economists believe that strong US domestic demand has driven rising profits, shielding workers from layoffs. However, as the conflict between the US, Israel and Iran intensifies, tighter financial conditions and rising interest rates may weigh on the labor market’s performance next year.