BNB coin, native coin of the BNB Chain ecosystem (BNB) surged 5.3% on Wednesday to around $1,128 following news that Binance co-founder Changpeng “CZ” Zhao received a presidential pardon from Donald Trump. BNB rallies after trump pardons CZ The move came shortly after the White House press secretary Karoline Leavitt confirmed the pardon, sparking a sharp rally across Binance-linked tokens and exchange-affiliated assets. Within minutes of the announcement, BNB spiked from intraday lows near $1,070 to abo ...

Market Performance - US stock market indices experienced a slight increase on October 23, with the Chinese concept stock index rising approximately 1.5% [2][4] - Major technology stocks saw widespread gains, with notable increases in companies such as Micron Technology (+3.36%), Oracle (+2.90%), and TSMC (+1.56%) [3] Earnings Reports - Over 80% of S&P 500 companies have reported earnings that exceeded expectations, indicating strong overall performance despite individual stock fluctuations [6] - Tesla's stock fell over 1% due to mixed third-quarter results, while IBM's stock dropped 2% despite beating earnings expectations [4] Oil Market and Sanctions - Oil prices surged following new sanctions imposed by the Trump administration on Russian oil companies due to perceived insincerity in peace negotiations regarding the Ukraine conflict [7] Inflation Data - The US Labor Statistics Bureau is set to release the September CPI data, which was delayed due to government shutdown, providing crucial inflation insights ahead of the Federal Reserve's policy meeting [8] - Economists predict a 0.3% increase in core CPI for the third consecutive month, maintaining a year-over-year rate of 3.1% [8] Binance and Regulatory Developments - Former President Trump granted a pardon to Binance founder Zhao Changpeng, potentially paving the way for Binance's return to the US market after previous legal issues [9][10] - The pardon may lead to the early conclusion of a three-year external monitoring period imposed by the Department of Justice, which aimed to ensure compliance with US financial crime laws [11] - The news of the pardon caused a significant spike in Binance Coin's price [11]

Core Viewpoint - The article discusses the recent performance of the U.S. stock market, particularly the rise in major tech stocks, and highlights the implications of Trump's pardon of Binance founder Zhao Changpeng on the cryptocurrency industry [2][11]. Market Performance - On October 23, the three major U.S. stock indices experienced slight increases, with the Chinese concept stock index rising approximately 1.5% [3][2]. - Tech stocks generally saw gains, with notable increases in companies such as Micron Technology (+3.36%), Oracle (+2.90%), and TSMC (+1.56%) [5][6]. - Over 80% of S&P 500 companies have reported earnings that exceeded expectations, suggesting that overall earnings may support high stock prices in the short term [8]. Economic Indicators - The U.S. Labor Statistics Bureau is set to release the September CPI data, which was delayed due to the government shutdown. This data is crucial for the Federal Reserve's upcoming policy meeting [9]. - Economists predict that the core CPI, excluding food and energy, will rise by 0.3% for the third consecutive month, maintaining a year-over-year rate of 3.1% [9]. Federal Reserve Policy - Despite inflation remaining above the Federal Reserve's target, a weak labor market is expected to lead to a second interest rate cut this year following the meeting on October 28-29 [10]. Cryptocurrency Industry - Trump has pardoned Zhao Changpeng, the founder of Binance, which may pave the way for the company's return to the U.S. market after being banned due to violations of anti-money laundering regulations [12][13]. - The pardon is seen as a significant development for Binance, which has faced scrutiny and a record $4.3 billion fine from the U.S. Department of Justice for being a major money laundering hub [16]. - The news of the pardon led to a surge in Binance Coin's price [17].

10月23日，美股三大指数开盘涨跌不一，截至北京时间23:00，道指跌0.71%，纳指跌0.93%，标普500指数跌0.53%。 | 道琼斯 | 纳斯达克 | 标普500 | | --- | --- | --- | | 46590.41 | 22740.40 | 6699.40 | | -334.33 -0.71% -213.27 -0.93% -35.95 -0.53% | | | 大型科技股涨多跌少，其中，特斯拉一度跌超5%，消息面上，特斯拉第三季度净利润同比下滑37%。该股今年以来累计上涨近9%，落后于标普500指数 14%的涨幅。 | 亚马逊(AMAZON) | 220.335 | 1.09% | | --- | --- | --- | | AMZN.O | | | | 英伟达(NVIDIA) | 182.240 | 1.09% | | NVDA.O | | | | 谷歌(ALPHABET). | 254.800 | 0.90% | | GOOG.O | | | | 脸书(META PLATF | 738.382 | 0.68% | | META.O | | | | 微软(MICROSOFT | 52 ...

还记得那个在春晚舞台上让《告白气球》变出花瓣的魔术师吗？ 如今，他不见了。 最近几天，周杰伦罕见地在社交平台上发出"寻人启事"，点名多年好友、魔术师蔡威泽。语气不再温 柔："再不出现，你就完了。" 一场"魔术师"的失踪事件 事情的起点，是周杰伦在10月15日左右的Instagram动态。 他连发两条限时动态："有谁看到这位把自己也变不见的魔术师，通知我一下。" 随后又语气加重："这个朋友已经消失一阵子，给了一堆借口，我也都相信。你以为我不是魔术师吗？ 再不出现，你就完了。" 被点名的这位——蔡威泽，是周杰伦的老朋友。两人因魔术结缘，从春晚同台到综艺节目《周游记》， 再到潮牌 PHANTACi 的魔术创意合作，几乎是"周董的快乐搭子"。 没想到，如今竟成了公开喊话的对象。 而更劲爆的，是这场"寻人"背后藏着的真相：一笔高达1亿新台币（约合2300万元人民币）的比特币投 资。 图 源：蔡威泽微博 左一为蔡威泽 从兄弟信任到亿元代投 据多家媒体报道，几年前，周杰伦委托蔡威泽代为操作比特币账户，形式类似"代投"。 周董出钱，蔡威泽操盘。资金不是一次性转账，而是分批进出，由蔡威泽负责买卖和管理。 这听起来更像是一场建立 ...

Core Insights - The Hong Kong Securities and Futures Commission (SFC) has officially approved Asia's first spot exchange-traded fund (ETF) directly investing in Solana (SOL), marking a significant milestone in the global cryptocurrency market [1][4][16] - This approval positions Hong Kong as a leading region for regulated cryptocurrency investment products, reinforcing its ambition to become a global virtual asset hub [4][16] Group 1: Product Information - The "Huaxia Solana ETF," issued by China Asset Management (Hong Kong), will be listed on the Hong Kong Stock Exchange (HKEX) on October 27, 2025, with three trading counters in HKD, RMB, and USD [6] - The ETF is a physically-backed fund, meaning it will hold 100% of real SOL tokens, closely tracking the CME CF Solana-USD Index [6] - The management fee is set at 0.99%, with an estimated total expense ratio (TER) of about 1.99%, and a minimum initial investment of approximately $100 [6] Group 2: Market Impact - The launch of the Solana spot ETF is seen as a potential entry point for institutional funds and a test of market liquidity, with JP Morgan predicting an influx of $1 billion to $1.5 billion in the first year [8][12] - Following the announcement, SOL's trading volume surged by 40% to $8 billion, indicating market maturity and caution as investors await the ETF's actual market performance [8][9] - The local ETF is expected to enhance liquidity during Asian trading hours, providing compliant channels for hedging and arbitrage, which may stabilize price discovery [9] Group 3: Regulatory Landscape - Hong Kong's dual-track strategy balances innovation and regulation, allowing compliant crypto investment products while maintaining vigilance against market risks [4][16] - In contrast, the U.S. is lagging in the approval of Solana spot ETFs due to regulatory delays, with several asset management firms awaiting SEC decisions [12][13] - Despite the delays, analysts remain optimistic about the potential approval of U.S. Solana ETFs, predicting a first-year influx of around $1.5 billion once approved [13]

本报（chinatimes.net.cn）记者赵奕 上海报道 根据华夏基金（香港）官网信息，由其发行的Solana（SOL）现货ETF即将于10月27日正式在港交所挂 牌。这不仅是香港虚拟资产市场内继比特币（BTC）、以太坊（ETH）之后获批的第三类加密货币现货 ETF，也是亚洲首个同类产品。 "亚洲首只SOL现货ETF即将在港交所上市标志着香港在虚拟资产领域的进一步创新。"薪火私募投资基 金管理有限公司总经理翟丹向《华夏时报》记者表示，SOL ETF的上市将为机构投资者提供一个合规且 便捷的渠道参与加密货币市场，从而吸引更多资金流入。此外，这一产品将进一步降低个人投资者的参 与门槛，通过熟悉的证券账户即可进行交易，增强了市场的流动性。从全球视角来看，香港的这一突破 也为其他亚洲市场提供了借鉴，推动了加密货币在传统金融体系中的接受度。 OSL负责交易与托管 2024年，全球首个Solana现货ETF在巴西证券交易所上市，让巴西成为第一个正式推出该代币ETF交易 的国家。今年4月，Solana现货ETF也在加拿大获批上市。而本次由华夏基金（香港）推出的基金则成为 亚洲首个SolanaETF。 "从制度和市场的视 ...

Core Viewpoint - Haotian International Construction Investment (01341) has acquired 646 units of Ethereum through public market transactions for approximately $2.71 million, excluding transaction costs, indicating a strategic investment in cryptocurrency [1] Group 1: Company Actions - The acquisition cost was determined based on the buy and sell prices of Ethereum in the public market and funded by the company's internal resources generated from daily operations [1] - The board of directors has observed a growing trend in the application of cryptocurrencies, particularly in decentralized social networks, as blockchain technology continues to develop and gain widespread adoption [1] Group 2: Market Insights - Ethereum, as a mainstream cryptocurrency, has received legal support from Hong Kong's "Stablecoin Regulation" and recognition from the "Guidance and Establishment of the U.S. National Stablecoin Innovation Act," enhancing its compliance status in two major global financial markets [1] - There is an increasing number of service providers offering virtual asset trading services, making it easier for public investors to access cryptocurrencies, which is expected to lead to a sustained increase in cryptocurrency trading volume in the near future [1] - Given the aforementioned factors, the board believes that there is potential for appreciation in the value of Ethereum [1]

Core Viewpoint - PayPal's stock price has remained stagnant between $50 and $90 since a significant drop in 2022, with market expectations for a breakthrough by the end of 2024 not materializing, leading to a perception of the company as "PainPal" despite ongoing revenue and profit growth [1][21] Business Developments - PayPal is expected to perform well by the end of the year due to several strategic initiatives, including the relaunch of Braintree, expansion of advertising business, increased contribution from cryptocurrency, and rapid growth of Venmo and debit card services [3] Braintree Business - Braintree, PayPal's payment processing division, is refocusing on profitability by renegotiating contracts, which is projected to contribute 5% to revenue growth this year [5] - Although Braintree's transaction volume showed negative growth in early 2025, it is expected to accelerate from Q3 2025, indicating that recent revenue slowdowns are not as severe as anticipated [5][6] - A partnership with Google for payment processing is expected to significantly enhance transaction volumes [6] Advertising and Cryptocurrency Business - PayPal leverages its vast first-party transaction data to enhance its advertising business, which is expected to grow significantly and compete with major players like Google and Meta [8] - The advertising business has high margins and is anticipated to become a major revenue source by 2026, diversifying PayPal's profit structure beyond payment transaction volumes [9] - The cryptocurrency segment is benefiting from rising market prices and the introduction of stablecoins, which are expected to boost revenue and profit margins [10] Debit Card and Venmo Business - PayPal is expanding into offline payments through debit cards, which is expected to drive transaction volume growth, as evidenced by rapid user acquisition in Germany [12] Valuation - Despite projected double-digit growth in EPS and free cash flow over the next few years, PayPal's current rolling P/E ratio is only 14, which is low compared to historical performance and future growth expectations [14] - The significant discount in PayPal's free cash flow P/E ratio compared to peers suggests that the market does not recognize its growth potential [14] - A reasonable P/E ratio of at least 20 could imply a doubling of the stock price within 2.25 years, driven by product innovations and partnerships [15] Earnings Expectations - Analysts forecast PayPal's Q3 2025 revenue at $8.22 billion and EPS at $1.21, with expectations for the company to exceed these figures being crucial for market perception [17] - Free cash flow remains a key indicator, with a target of $6-7 billion for the year, and achieving this will be critical for maintaining investor confidence [17] Conclusion - PayPal's current low valuation, combined with multiple innovative business initiatives, positions the company for potential breakthroughs by the end of the year [21]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內 容 概 不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示，概 不就因本公告全部或任何部份內容而產生或因倚賴該等內容而引致之 任 何 損 失 承 擔 任 何 責 任。 HAO TIAN INTERNATIONAL CONSTRUCTION INVESTMENT GROUP LIMITED 昊天國際建設投資集團有限公 司 由 於 收 購 事 項 乃 於 公 開 市 場 進 行，本 公 司 並 不 知 悉 有 關 賣 方 的 身 份 及 主 要 業 務 活 動。據 董 事 作 出 一 切 合 理 查 詢 後 所 深 知、盡 悉 及 確 信，各 賣 方 及 其 最 終 實 益 擁 有 人（如 適 用）均 為 獨 立 於 本 公 司 及 其 關 連 人 士 的 第 三 方（定 義 見 上 市 規 則）。 – 1 – 收購事項之理由及裨益 自願公告 購買加密貨幣 本 公 告 乃 由 昊 天 國 際 建 設 投 資 集 團 有 限 公 司（「本公司」，連 同 其 附 屬 公 司， 統 稱「本集團」）自 願 作 出 ...