US considers easing restrictions on some sanctioned oil tankers to ease pressure on shipping costs and oil prices.

According to Yu Jin Monitoring, a whale that purchased 10,376 ETH at an average price of $1,626 back in June this year has added to its ETH holdings again after a five-month interval. The address spent 19.7 million USDT to buy 8,775 ETH roughly an hour ago, at an average price of about $2,245. Currently, the whale’s total ETH holdings have risen to 23,097 ETH, valued at approximately $51.69 million, with an average cost basis of around $1,909.

The U.S. Department of Labor’s proposed rule allowing alternative assets like cryptocurrencies into 401(k) retirement plans was submitted to the White House for final review on November 5. The proposal does not restrict eligible cryptocurrency types nor set a minimum market capitalization threshold, meaning altcoins and small-to-medium market cap tokens could also gain access to U.S. retirement investment plans in the future. However, industry insiders note that asset management firms still need to comprehensively evaluate performance, fees, liquidity, valuation, benchmark metrics, and investment complexity when selecting investment targets. Bitcoin and Ethereum, thanks to their mature markets and investment products, are expected to secure access first, while small-to-medium market cap tokens may face higher barriers due to insufficient historical data, limited liquidity, and a lack of reliable valuation benchmarks. Additionally, experts predict that crypto ETFs and managed funds will enter 401(k) plans before direct crypto holdings, as the former are easier to adapt to existing custody and account management systems. Industry projections show that some crypto investment options could launch as early as 2027, with coverage expanding further around 2028. The proposal still needs to complete White House review and subsequent legislative processes, and will not fully exempt retirement plan administrators from fiduciary duties or litigation risks.

Elon Musk said in an interview Friday that he still expects SpaceX (SPCX.O) to generate annualized revenue of over $500 billion by the end of 2027, calling this his most reasonable forecast. He added that hitting $1 trillion in revenue is not entirely impossible, but only has a roughly 2% probability. Musk projected SpaceX’s annualized revenue will exceed $100 billion by Q4 2026, with a sequential increase of around 70%, stressing these figures are just his personal expectations, not commitments. He also noted that SpaceX’s revenue from the U.S. government will account for less than 10% this quarter, falling to below 5% in a year, while praising the company’s government business for delivering the highest quality products at the lowest prices. Following the news, SpaceX’s stock rose more than 8% at one point.

US stocks closed on Friday: The Dow Jones Industrial Average initially finished down 0.46%, the S&P 500 index rose 0.32%, and the Nasdaq Composite gained 1.09%. Most chip stocks rebounded, with SK Hynix (SKHY.O) up 2.78%, NVIDIA (NVDA.O) rising 2.78%, AMD (AMD.O) jumping 11.04%, Intel (INTC.O) up 7.71%, Micron Technology (MU.O) gaining 5.12%, Marvell Technology (MRVL.O) rising 5.73%, Arm (ARM.O) adding 4.74%. Tesla (TSLA.O) rose 4.23%, and SpaceX (SPCX.O) gained 8.62%.

US October non-farm payrolls rose by 165,000, far outpacing the 65,000 expected, with the unemployment rate dropping to 4.1%. The robust employment data lifted the probability of the Federal Reserve implementing a 25 basis point rate hike in December to nearly 80%. The US Dollar Index climbed 0.71% to 102.31, notching its largest single-day gain since June 17; the euro, pound sterling, and yen fell 0.72%, 0.74%, and 0.5% against the greenback respectively. US Treasury yields moved higher in tandem, with the 10-year Treasury yield rising to 4.85% and the 2-year yield to 4.52%. Fed officials Williams, Musalem, and Daly all underscored that inflationary pressures remain, with Daly stating the Federal Reserve may still need to implement additional rate hikes. (Jin10)

Beating AI Flash News: According to Bloomberg, OpenAI has completed approximately $11 billion in financing, with the first tranche of funds arriving on Friday, valuing the company at $1.25 trillion. The total size of this financing round is expected to reach up to $20 billion, with the remaining portion set to close in the coming weeks. Insiders revealed that Coatue Management and T. Rowe Price participated in the first tranche, while SoftBank, Sequoia Capital, Founders Fund, Andreessen Horowitz, as well as investors from the United Arab Emirates also joined the round. OpenAI had originally planned to raise at least $30 billion at a $1.4 trillion valuation, but later lowered its financing targets following a public market sell-off in the AI sector. The company just closed a $122 billion financing round in March this year, with a valuation of $852 billion at that time.