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More →Goldman Sachs' Tony Pasquariello: Wall Street hit by its largest-scale selloff
Coin World news, Goldman Sachs Group's Tony Pasquariello said Wall Street has suffered its largest sell-off since July, with hedge funds selling tech stocks last Thursday at the fastest pace in two years, seriously calling into question the market's conviction in this trade. In a note to clients, Pasquariello pointed out that although the S&P 500 has been range-bound over the past three months, as the AI trade gives back gains, the surface calm has masked a "persistent drawdown in performance" since the end of June. He noted that for several weeks, hedge funds have been cutting net and gross equity exposure, and said, "Have we seen capitulation selling? While it's impossible to judge precisely, based on what I'm hearing from various parts of my business network and from conversations with clients, it feels like the market has indeed been badly wounded." The Nasdaq 100 index plunged 2.9% that day, and tech stocks rebounded on Monday, with the index rising 1%. In his October 23 report, Pasquariello said the pressure driving the sell-off came partly from positioning and fundamentals; after a strong first half, investors had built heavily long positions in the AI theme, but since then the market has "dealt a heavy blow to consensus positioning."
S&P Global Ratings said that despite SpaceX completing debt financing for GPU procurement, its credit rating remains unchanged.
CoinWorld news, Cailian Press, October 27: S&P Global Ratings said that although SpaceX has completed debt financing for the procurement of GPUs, its credit rating remains unchanged.
The Office of the Comptroller of the Currency calls on community banks to enter the stablecoin market.
According to CoinWorld news, the U.S. Office of the Comptroller of the Currency is calling on U.S. community banks to enter the stablecoin market and encouraging them to apply to become licensed issuers under the GENIUS Act before the regulatory deadline of January 18, 2027.
Microsoft launches voluntary severance program covering 60,000 employees
CoinWorld news: Microsoft has announced a voluntary departure program, with an estimated 60,000 employees expected to participate, a move driven by artificial intelligence reshaping its workforce structure. The program covers 27% of Microsoft's approximately 223,000 employees in the United States, Canada, India, and the United Kingdom. The program has been extended to employees at the vice president level and below. The move comes as Microsoft invests billions of dollars in AI infrastructure and promotes the use of AI tools across teams including engineering and sales to improve efficiency.
Report: Iranian officials say they are ready and waiting for Israel to act.
According to Iran's Fars News, an Iranian security official said that the whole world is watching in shock as Netanyahu publicly reveals his true intentions, even making the destruction of Iran a campaign slogan. Iran will certainly respond to any threat with equal force. Iran is fully prepared, and once it is subjected to even the slightest attack, it will respond in kind with unprecedented speed and force. The official also warned Israeli residents to prepare for a possible conflict.
USDC Treasury在Solana网络增发2.5亿枚USDC
CoinWorld data: USDC Treasury minted 250 million USDC on the Solana network, valued at approximately $250 million at real-time prices.
Anthropic plans to unlock the IPO lock-up period early.
According to CoinWorld news, Anthropic is planning an unusual IPO lock-up arrangement that would allow some early investors and employees to sell shares before the standard 180-day period. The specific unlock schedule is as follows: Day 1: some shares can be sold; Day 27: more shares unlock; Day 48: further shares are released. This information comes from Bloomberg.
CZ rings the Nasdaq opening bell for the BNB standard.
Binance founder CZ rang the opening bell at Nasdaq for the BNB standard ($BNC), the world's largest corporate BNB treasury company. CZ said: "Nothing demonstrates the fusion of cryptocurrency and traditional finance better than this."
Why prediction markets got the Brazilian election wrong
According to Decrypt, prediction markets got the Brazilian presidential election wrong. Polymarket assessed Lula's chances of winning at only 20% on the eve of the election, but he ultimately won. Experts point out that this failure stemmed from Brazil's ban on prediction markets, which caused retail investors to dilute the market's professionalism. Lula defeated right-wing opponent Bolsonaro in Sunday's election; the latter led in the first round of voting in early October but failed to secure a majority, necessitating a second round. Lula's victory in the second round will begin his fourth presidential term. Although on election day Lula's odds were only 20% while Bolsonaro's were 80%, the market reacted slowly and failed to adjust the odds in time. Analysts believe that retail traders' opposition to Lula led to Bolsonaro's odds being overestimated. Brazil imposed a comprehensive ban on prediction market platforms in April, with the finance minister stating that these platforms violated gambling regulations and lacked proper oversight.
Bitcoin's market capitalization share stands at 59.45%.
CoinWorld data: Under CoinWorld's unified market methodology, Bitcoin's market capitalization accounts for 59.45% of the total cryptocurrency market capitalization.