Singapore police team up with 8 crypto platforms in anti-scam operation, intercepting over S$17.4 million in potential losses

Odaily reports that the ongoing slump in global tech stocks is pushing the hedge fund industry into a new round of adjustment. As AI-related trades reverse sharply, the global tech stock selloff has dealt a heavy blow to hedge funds, with some strategies' year-to-date returns nearly wiped out. Several large funds have begun cutting leverage and disbanding investment teams, with market concerns that concentrated unwinding could further amplify volatility.Goldman Sachs data shows that equity long/short strategy funds focused primarily on tech stocks lost more than 4% in a single day on Thursday, bringing their year-to-date returns down to near zero. As recently as June this year, these funds had posted cumulative returns of as much as 24%.The losses were not confined to tech-focused strategies. Goldman Sachs data shows that global fundamental equity long/short strategy funds fell an average of 1.3% on Thursday, while multi-strategy funds dropped 1.4%, reflecting that selling pressure is spreading to a broader range of portfolios.

Odaily reports: According to Arkham monitoring, Morgan Stanley has transferred a total of 9,297 SOL to Coinbase over the past two days through its Solana exchange-traded fund MSOL, suspected of selling. It currently still holds approximately 510,000 SOL, valued at $45.79 million.In addition, Morgan Stanley yesterday spent $3.41 million through its Bitcoin exchange-traded fund MSBT to buy the dip with 43 BTC, bringing its total Bitcoin holdings to 10,893 BTC.

Odaily Report: He Yi quoted Musk's previously posted CZ-related meme on X, paired with the classic red and blue pill scene from the film "The Matrix," and posted asking: "Which color pill do you choose?"Previously, Musk used a CZ-related meme to respond to the crypto market downturn, after which CZ responded with a "took an arrow to the knee" meme. OKX CEO Star also joined the interaction, joking: "The richest man is jealous of the richest man, so he 'smears' the richest man again!"As the related interactions continued to draw attention, according to GMGN data, the market cap of the related Meme coin GM (GREEN MORNING) has surpassed $7 million.Odaily reminds users that Meme coin prices are highly volatile, and investors should participate with caution.

Odaily reports: Ahead of Friday's release of the U.S. October nonfarm payrolls report, bond traders have already bet that the U.S. Treasury market will rise further, while market expectations for the Federal Reserve to continue raising rates have continued to cool. After the U.S. midterm elections, global stock markets suffered a sell-off, driving investors toward U.S. Treasuries this week as a safe haven, and the 10-year Treasury yield fell on Thursday to its lowest level since early September.As the stock market sell-off intensified further, the 10-year Treasury yield stood at 4.82% on Friday. The recent rally in the bond market has strengthened traders' confidence that yields will fall further. One options market trade bets that the 10-year Treasury yield could fall to 4.7% by the end of next week; another trade expiring on November 20 bets that the yield will fall to about 4.35%.Gennadiy Goldberg, head of U.S. rates strategy at TD Securities, said the data due Friday is expected to be slightly weak, but the market is still mainly focused on economic fundamentals. He noted that the U.S. economy remains quite strong and the labor market is showing a "low hiring, low layoffs" pattern, so the market has already sharply reduced rate hike expectations over the past few weeks.

Odaily reports: According to MSX.COM data, in pre-market trading, Dow futures fell 0.8%, S&P 500 futures rose 0.24%, and Nasdaq 100 futures rose 1.1%. Some chip stocks rebounded: AMD (AMD.O) rose 5.3%, TSMC (TSM.N) rose 5.3%, Nvidia (NVDA.O) rose 2.9%, and Broadcom (AVGO.O) rose 3.8%. SpaceX (SPCX.O) and Tesla (TSLA.O) rebounded 2% and 1.4% pre-market, respectively.

Odaily: South Korean cryptocurrency exchange Gopax has announced the suspension of all trading services in order to transfer all customer assets to cold wallets. The platform stated that this move is a precautionary security measure in response to multiple recent security breaches and data leak incidents at financial institutions. (The Block)