France plans to impose a 31.4% tax on transactions exchanging MiCA-compliant stablecoins starting in 2027.

The U.S. Dollar Index (DXY) edged lower in early Asian trading, fully erasing all gains it had made since yesterday’s release of U.S. September CPI data (which saw a peak cumulative rise of around 70 points). It is now trading at 102.16. The British pound against the U.S. dollar (GBP/USD) and euro against the U.S. dollar (EUR/USD) rose approximately 0.3%, currently quoted at 1.3231 and 1.1197 respectively.

The U.S. Securities and Exchange Commission (SEC) has approved the Chicago Board Options Exchange (Cboe) to list binary options tied to key performance indicators (KPIs) disclosed by public companies, covering firms including Coinbase, Robinhood, and Marathon Digital (MARA). These contracts allow traders to place "yes/no" predictions on specific metrics, such as Coinbase’s trading volume, Marathon’s Bitcoin output, and Robinhood’s customer data and revenue performance. Robinhood is expected to become the first retail broker to offer such products. For the crypto market, this provides traders with new avenues to bet directly beyond Bitcoin’s price, enabling trading around the operational performance of crypto-linked public companies. The SEC’s approval only applies to securities options of a specific structure, while leaving room for contracts with different structures to fall under the jurisdiction of the U.S. Commodity Futures Trading Commission (CFTC). SEC Chair Paul S. Atkins noted the move represents "new progress in regulatory coordination, financial innovation, and investor choice".

According to Bitget market data, South Korea's KOSPI index fell below 6,000 points, dropping 5.59% intraday. SK Hynix fell more than 7%, and Samsung Electronics declined over 6%.

NVIDIA (NVDA.O)-backed clinical-stage anti-cancer drug R&D firm Iambic Therapeutics has completed its US initial public offering (IPO), raising $150 million at the midpoint of its indicative price range. Iambic issued approximately 9.38 million shares at $16 apiece. Earlier filings showed the company had set a preliminary price range of $15 to $17 per share. Based on the IPO price and total shares disclosed in the filings, the company’s market capitalization stands at $758 million. The filings also noted that Iambic uses artificial intelligence and machine learning technologies to develop new therapies, and will allocate the IPO proceeds to advance three early-stage anti-cancer drug candidates.

According to HTX market data, Bitcoin has fallen 2.02% in 24 hours, currently trading at $81,480 and approaching the lower edge of its recent trading range. While cryptocurrency analysts have largely turned bullish, Bitcoin remains weighed down by a broader pullback in risk assets. As the largest crypto asset by market capitalization, Bitcoin is trading near $81,700. Due to higher-than-expected inflation data and renewed selling pressure on chipmaker stocks, market interest in speculative trading has cooled, dragging down the crypto market. The Nasdaq 100 index dropped 2%, and the U.S. dollar rose to its highest level since May 2025. After September’s consumer price growth hit a new high since April, traders have further increased bets on the Federal Reserve continuing to raise interest rates. According to BIT (bit.com) market data, U.S. stocks closed on Wednesday: the Dow Jones fell 0.09%, the S&P 500 dropped 1.1%, and the Nasdaq declined 1.88%. Micron Technology (MU.O) fell 4%, SK Hynix (SKHY.O) slid 6%, NVIDIA (NVDA.O) dropped 3%, Coreweave (CRWV.O) plunged over 15%, and Dell (DELL.N) fell more than 11%.

VanEck has requested the U.S. Securities and Exchange Commission (SEC) to withdraw the previously filed registration statement for its Lido Staked Ether ETF, and noted it no longer plans to move forward with launching the product. The asset manager originally submitted the S-1 registration document on October 16, 2025, but did not disclose the specific reason for the withdrawal. VanEck added that no shares have been issued or sold under the registration statement, and no such shares will be issued or sold in the future.