South Korea's KOSPI index extended its decline to 5%, with SK Hynix falling nearly 9%.

Sumitomo Mitsui Financial Group (SMFG) will invest approximately a 5% stake in SBI Startale Marketing, a joint venture of SBI Holdings and Startale Group, with the investment to be completed soon. SMFG and SBI will form a capital business partnership, aiming to leverage their customer base to develop financial services using the yen stablecoin JPYSC for use cases including asset management and payments. The joint venture is responsible for JPYSC application planning and blockchain financial product development; SMFG’s participation will further expand the stablecoin’s circulation and use cases. JPYSC, a trust-type yen stablecoin, is issued by SBI Shinsei Trust Bank with circulation handled by SBI VC Trade. It launched on June 24, and as of October 30, its outstanding issuance balance was approximately 20.8 billion yen. Sumitomo Mitsui Banking Corporation (SMBC), which has around 24 million individual customers, may consider using JPYSC for settlements and instant settlements of blockchain financial products in the future. SMBC is also advancing joint stablecoin issuance with Mitsubishi UFJ and Mizuho Group entities, and announced on October 16 that empirical tests have confirmed the feasibility of this joint issuance model.

Deribit’s Head of Asia-Pacific Business, Lin Chen, stated in a post that Coinbase and Deribit have confirmed the safety of their assets, completed internal self-inspections, and no related risk points have been identified so far. He expressed hope that the crypto market can emerge from the current shadow and enter the next bull market.

According to on-chain analyst Specter’s monitoring, First Digital has blacklisted the Binance attacker address holding approximately 3.4 million FDUSD tokens, completing the asset freeze.

Liquid Capital founder Yili Hua stated in a post, "We’ve been repeatedly warning of a market correction every day, but we didn’t expect the $79,000 strong support level to be breached by a black swan event, which was unplanned. The originally planned levels of $75,000 and $71,000 need to be re-evaluated and adjusted amid changing circumstances. However, once the black swan event’s impact subsides and the midterm elections conclude, the optimal time to buy the dip will arrive."

According to OnchainLens monitoring, hackers linked to the Binance theft are transferring over $1 billion worth of ETH to new wallets, and are suspected of planning to launder the funds via Tornado Cash and other mixers.

Beating AI Express News: OpenAI’s 28-day product sprint has reached Day 25, and Tibo has finally scrapped the reset plan, announcing that it will add quotas for all users. OpenAI originally planned to cut the Codex and ChatGPT Work quotas for old Pro 200 users from 20x to 10x, while keeping the $200 monthly fee unchanged. Just as the adjustment was about to take effect, Tibo suddenly backtracked: No more cuts! Old users who originally had 20x quotas will retain their current levels, while users who previously only had 10x quotas will get a direct doubling, bringing all users’ quotas in line. In addition, quotas for Pro 100, Pro 500, and Business Premium plans will also be doubled, effective immediately. Dot will temporarily retain its additional quota, which is calculated separately and does not take up the shared quota for Codex and Work. Tibo also joked that OpenAI is graduating from being a "Reset company" and upgrading to a "Token company".