The entire crypto market is down across the board, with funding rates indicating that both BTC and ETH are in bearish territory.

HSBC analyst Frank Lee has downgraded Nvidia’s rating from “Buy” to “Hold”, cutting the target price from $365 to $170, leaving only around 2.3% upside from Thursday’s closing price. Lee stated that the stock will remain under pressure until Nvidia clarifies a formal succession plan and the incoming CEO demonstrates their execution capability. Currently, CFO Colette Kress is serving as interim CEO. Lee also warned that the risk of further tightening of U.S. chip export controls cannot be overlooked. Over the past six quarters, Nvidia has generated approximately 11% of its revenue from markets outside the U.S. and Taiwan, China, which HSBC identifies as potential targets for tightened export restrictions. Under HSBC’s bear case scenario, if export curbs reduce Nvidia’s fiscal 2028 revenue by 11% from the baseline, earnings per share could fall to $13.57, roughly 13% lower than HSBC’s baseline forecast of $15.65 and around 14% below the market consensus of $15.77.

It is reported that Anthropic's initial public offering (IPO) will not be open to investors from mainland China and Hong Kong.

Federal Reserve’s Collins said the U.S. central bank may have to raise interest rates more than expected. She declined to specify how high or how fast rates should move, noting decisions will be made on a meeting-by-meeting basis. Recent inflation data has not been as optimistic as she had hoped, adding that the right direction for monetary policy is clear and further policy tightening will soon be necessary.

Microsoft (MSFT) said it is making progress restoring access to its flagship software and ending the global outage that disrupted operations for government agencies, traders, and businesses worldwide. In a statement released around 9 a.m. ET, the company noted service availability is improving, adding that "mail queues have decreased significantly and are near normal levels". Even so, Microsoft warned users of more than 20 products and services may continue to experience errors. The root cause of the outage remains unclear, but the company described "core processes" on some servers had completely stopped responding due to overload. Initial efforts to troubleshoot the issue and deploy fixes were hampered by additional server errors that emerged later. Microsoft added it will provide more details once the outage is resolved, noting there is no evidence of malicious activity.

Coinbase CEO Brian Armstrong stated in a post that the crypto exchange stores over 99% of its custodial crypto assets in cold wallets and uses the latest AI models to bolster security, sometimes gaining early access to these models. He noted that Coinbase’s security framework accounts for the risk of employee deception, with no single individual, computer, or system able to transfer user funds independently. Armstrong added that seven of the world’s largest banks partner with Coinbase, and the company holds more than 80 licenses globally. AI agent finance is a key focus area for Coinbase. Armstrong cited forecasts that transactions processed by AI agents could reach $3 trillion to $5 trillion by 2030. He argued that crypto networks are well-suited as infrastructure for agents to execute transactions, and developing financial accounts tailored for AI agents is among Coinbase’s top priorities. On tokenized stocks, Armstrong said trading volume for tokenized stocks on Coinbase’s Base layer-2 network has exceeded $5 billion. He views tokenized stocks as more accessible than traditional equities and compatible with DeFi protocols, such as enabling holders to generate yields using their stock assets. Regarding U.S. stock perpetual contracts, Armstrong said Coinbase has long advocated for the compliant launch of such products in the U.S., and welcomed collaboration between the heads of the SEC and CFTC on this issue. He noted that stock perpetual contracts are already traded in markets outside the U.S. Armstrong also teased the upcoming launch of Coinbase Pro, though no specific timeline was provided in the post.

BitGo released a statement saying that Unocoin’s BitGo account was frozen on November 6, 2026, with the freeze measure taking effect as expected. BitGo verified that recent outgoing transactions were signed by Unocoin using its own user keys and backup keys, and broadcast to the blockchain outside BitGo’s system, with BitGo not involved in these transactions. BitGo noted that Unocoin uses a self-custody wallet that requires any two of three keys to sign transactions: Unocoin holds two of the keys, while BitGo only holds the third, which was not used in the relevant transactions. BitGo added that its system was not breached in this incident, and other customers were unaffected. Inquiries regarding Unocoin customer funds should be directed to Unocoin.