Crypto Morning Brief: U.S. job market gradually cools, Filecoin launches Filecoin Onchain Cloud
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Crypto Morning Brief: U.S. job market gradually cools, Filecoin launches Filecoin Onchain Cloud
US SEC's 2026 review priorities do not specifically mention cryptocurrency, signaling a potential shift toward a more moderate regulatory stance.
Navigating Web3 tides with focused insightsAuthor: TechFlow
Yesterday's Market Dynamics
ADP Weekly Report: U.S. companies cut an average of about 2,500 jobs per week over the four weeks ending November 1
According to Jin10 News, data released by ADP Research on Tuesday showed that U.S. companies cut an average of about 2,500 jobs per week over the four weeks ending November 1, indicating that the labor market lost some momentum in late October. ADP’s monthly employment report, released on November 5, showed private-sector employment increased by 42,000, following two consecutive months of decline. The U.S. Bureau of Labor Statistics will release its September employment report on Thursday, with expectations that total U.S. employment rose by 55,000 compared to the previous month. Prior to ADP’s weekly data release, several major companies, including Amazon and Target, had announced layoffs during the month. According to Challenger, Gray & Christmas, planned job cuts in October 2025 were the highest for any October in over twenty years.
U.S. Government Releases Partial Initial Claims Data: Most Figures Revised Upward
According to Jin10 News, data from the U.S. government website shows that initial jobless claims for the week ending October 18 were 232,000; continuing claims stood at 1.957 million, up from 1.947 million the previous week. Meanwhile, initial claims for the week ending September 20 were revised upward from 218,000 to 219,000, and the four-week moving average was revised up from 237,500 to 237,750. Continuing claims for the week ending September 13 were revised down from 1.926 million to 1.916 million. The U.S. government website has not yet published initial claims data for the weeks ending September 27, October 4, October 11, October 25, November 1, and November 8. If the government had not shut down, these six sets of data should have already been released.
U.S. SEC's 2026 Review Priorities Do Not Specifically Mention Cryptocurrency, Suggesting a Shift Toward Milder Regulation
According to Cointelegraph, the U.S. Securities and Exchange Commission (SEC) did not specifically mention cryptocurrency or digital assets in its fiscal year 2026 review priorities document, marking a stark contrast to previous years.
The document, released by the SEC’s Division of Examinations on Monday, outlines examination priorities through the fiscal year ending September 30, 2026. However, the SEC stated that the listed priorities are not an “exhaustive list” of what the division will focus on in the coming year.
In contrast, last year the examination division explicitly stated it would prioritize “offerings, sales, recommendations, advice, trading, and other activities involving crypto assets,” specifically highlighting spot Bitcoin and Ether exchange-traded funds as key areas.
New SEC Chair Paul Atkins said in a statement that examinations are an important part of fulfilling the agency’s mission but should not become “gotcha” exercises. The latest priorities document primarily focuses on “core areas” such as fiduciary duty, custody, and customer information protection.
Binance Wallet to Discontinue Support for ARC-20 Assets
According to an official announcement, Binance Wallet will cease support for ARC-20 assets starting December 15, 2025, at 18:00 (UTC+8). After this time, users will no longer be able to view, send, or receive ARC-20 assets within Binance Wallet.
This change only affects the display and management of these assets within Binance Wallet; user assets will not be lost or frozen. Users are strongly advised to manage or transfer their ARC-20 assets before the discontinuation date.
Ethereum Foundation Proposes Ethereum Interop Layer to Optimize L2 User Experience
As disclosed on the Ethereum Foundation’s official blog, the Ethereum Foundation’s account abstraction team has formally proposed the “Ethereum Interop Layer (EIL)” initiative, aiming to make all Layer 2 networks feel like a single, unified Ethereum chain.
Built upon the ERC-4337 account abstraction standard and principles of trustlessness, the EIL allows users to complete cross-chain transactions with a single signature without introducing new trust assumptions. Users can initiate and settle cross-Layer 2 operations directly from their wallets, without relying on relayers or solvers.
EIL aims to address current fragmentation issues in Layer 2 ecosystems, including the need for users to manage token locations across multiple chains, complex cross-chain transfer processes, and dependence on third-party bridge services. With this solution, users simply select assets and recipient addresses in their wallet and click send—the wallet automatically handles inter-chain routing and asset delivery.
The team emphasized that EIL preserves core Ethereum values: self-custody, censorship resistance, privacy, and verifiability—by shifting logic on-chain and into user wallets, eliminating reliance on intermediaries.
Filecoin Officially Launches Filecoin Onchain Cloud (FOC), Expanding from “Decentralized Storage Network” to “Decentralized Cloud Infrastructure”
Filecoin has officially launched Filecoin Onchain Cloud (FOC), marking its expansion from a “decentralized storage network” to a “verifiable, programmable, composable decentralized cloud infrastructure,” laying the foundation for next-generation cloud infrastructure serving AI, autonomous agents, data economies, and Web3 applications.
In response to Cloudflare’s recent widespread outage affecting numerous internet services, FOC aims to prevent similar incidents through five core modules: Verifiable Storage (Warm Storage Service + PDP), Programmable Settlement (Filecoin Pay), Decentralized Persistence (Filecoin Pin), Verifiable Retrieval (Filecoin Beam), and a Unified Developer API (Synapse SDK).
As one of the most significant releases in the Filecoin ecosystem to date, FOC represents a key milestone in Filecoin’s evolution from “decentralized storage” to “onchain cloud infrastructure.” This shift enables builders to deliver truly ownable, verifiable, and programmable cloud-like services and execution environments on-chain.
Two Men Charged with Rape in Mong Kok, Hong Kong Were Former BDs at a Crypto Firm
According to the Hong Kong Sing Tao Daily, two men holding exit-entry permits are suspected of raping a woman at a hotel in Mong Kok earlier this month. Both have been charged with one count of rape and made their first court appearance today at West Kowloon Magistrates’ Court. The defendants are 27-year-old Wang Bochuan and 24-year-old Xu Zilan. They are jointly charged with raping woman X on November 4, 2025, at Regal Mongkok Hotel, 23 Dan Nam Street, Kowloon, Hong Kong.
Web3 media outlet Wu Shuo, citing sources, confirmed that both individuals previously worked as BDs at ME (formerly MetaEra). LinkedIn shows that Wang Bochuan obtained a Master of Laws degree from East China University of Political Science and Law in 2025.
HSBC to Offer Tokenized Deposit Services to Clients in the U.S. and UAE
According to Bloomberg, HSBC Holdings PLC will begin offering tokenized deposit services to corporate clients in the U.S. and UAE in the first half of next year. Manish Kohli, head of global payment solutions at HSBC, said in an interview that tokenized deposits allow clients to make domestic and cross-border transfers in seconds, available around the clock rather than limited to business hours. The system enables large enterprises to better manage liquidity.
Tether Announces Strategic Investment in Bitcoin-Collateralized Lending Platform Ledn
According to the official blog, Tether has announced an investment in consumer Bitcoin-collateralized lending platform Ledn.
Since its inception, Ledn has issued over $2.8 billion in Bitcoin-backed loans, with over $1 billion issued in 2025 alone, setting a record high. In Q3 2025 alone, Ledn issued $392 million in loans—nearly matching its full-year volume in 2024. The company currently has annual recurring revenue (ARR) exceeding $100 million.
Tether CEO Paolo Ardoino said the investment reflects Tether’s belief that financial innovation should empower individuals. Ledn co-founder and CEO Adam Reeds said the company expects its loan volume to nearly triple compared to 2024 levels.
Kraken Secures $200 Million Strategic Investment from Citadel Securities, Valued at $20 Billion
According to The Block, cryptocurrency exchange Kraken announced on Tuesday that it has raised $800 million in two funding rounds, bringing its valuation to $20 billion. The first round was led by institutional investors including Jane Street and DRW Venture Capital, along with a significant investment from Kraken co-CEO Arjun Sethi’s family office. The second round secured a $200 million strategic investment from Citadel Securities.
Citadel Securities will provide Kraken with differentiated liquidity, risk management expertise, and market structure insights. The funding will support Kraken’s planned IPO in early 2026.
Kraken has recently expanded globally through acquisitions, including purchasing Small Exchange for $100 million to launch a derivatives trading platform in the U.S. The company reported first-quarter 2025 revenue of $472 million, a 19% year-on-year increase, with last month’s trading volume reaching $40.5 billion.
Microsoft, NVIDIA, and Anthropic Form Partnership; Microsoft to Invest Up to $5 Billion in Anthropic
According to Jin10 News, Microsoft, NVIDIA, and Anthropic have announced a partnership. Anthropic has committed to spending $30 billion on Azure computing capacity. Microsoft has pledged to invest up to $5 billion in Anthropic.
NVIDIA stated that Microsoft and Anthropic are also expanding their existing collaboration to offer broader access to Claude for enterprises. Customers of Microsoft Azure AI Foundry will gain access to Anthropic’s Frontier Claude models.
Market Update
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