After the decline in Bitcoin prices, institutional purchases of digital assets significantly decreased, and DAT capital inflows dropped sharply. The sell-off of related stocks exceeded Bitcoin's decline, and the first treasury company, Sequans Communications, also sold Bitcoin to repay debt, sparking ongoing market skepticism about DAT's strategy. Analysts expect digital asset management firms may sell Bitcoin to exchange for US dollars.

Foresight News reports that digital asset management company Farm Capital tweeted that its on-chain yield strategy product mFARM has borrowed 1.09 million USD from the Silo sUSDX·USDC market (Arbitrum platform ID 127) and is currently unable to withdraw. In the worst-case scenario, this 1.09 million USD could become a bad debt, resulting in a total loss. The team is actively seeking the recovery of the sUSDX market and will do its best to recover the funds. Farm Capital will bear over 50% of the bad debt, some of which has already been transferred through OTC trades. The price of mFARM will be updated within the next 48 hours, after which redemptions will resume normally. Users looping mFARM/USDC on Euler or Morpho should pay attention to the health factor and liquidation price.

UBS report indicates that the growth of U.S. debt will lead long-term Treasury investors to demand higher term premiums, causing the yield curve to steepen again. However, the ten-year Treasury yield is expected to decline due to Federal Reserve rate cuts, falling to 3.50% next year and rising back to 4% by the end of 2026.

Notional has confirmed that its V3 protocol was affected by a Balancer vulnerability, resulting in approximately 721.6 ETH in bad debt, with users facing a 100% loss. The team plans to gradually shut down the protocol and migrate cross-currency lending users' positions to Aave to reduce liquidation risk. A detailed asset withdrawal plan will be released later.

Analyst Willy Woo pointed out that Michael Saylor's Strategy company does not need to sell Bitcoin to pay off its debts during the fall of the crypto market, mainly due to its flexible debt structure, and the current stock price needs to be above $183.19 to avoid selling Bitcoin.

The Chainlink annual flagship conference SmartCon was held in New York, where executives from the finance and DeFi sectors discussed the new infrastructure challenges of the on-chain economy. Experts pointed out that technical debt, user experience, stablecoins, and cross-institutional collaboration are key to industry development, calling for accelerated regulatory clarity to promote asset management participation in the on-chain economy.

PANews, November 5 news, Curve Finance is seeking community feedback on governance proposal 1252, which proposes to introduce "Emergency DAO" multi-signature authority for crvUSD and LlamaLend to ensure system security before supporting yieldbasis and Resupply and further scaling. The proposal voting will end on November 12. This proposal aims to allow Emergency DAO to share control over key risk parameters with Curve DAO, including: Lower the debt ceiling related to crvUSD minting (applicable to YB, Flashminter, etc.); Adjust AMM fees, monetary policy, and liquidity mining adjustments; Manage loan discounts (no forced liquidation); Set

According to ChainCatcher news and reports from Investing.com, the US-listed semiconductor company Sequans Communications (NYSE: SQNS) redeemed 50% of its convertible bonds by selling 970 Bitcoins. This transaction reduced the company's total debt from $189 million to $94.5 million. Sequans currently holds 2,264 Bitcoins, a decrease from the previous 3,234 Bitcoins. Based on current market prices, the company's net asset value in Bitcoins is approximately $240 million, and the debt-to-net asset value ratio decreased from 55% to 39%. The company's CEO Georges

Jin10 data reported on November 4th that Huaxi Securities research indicated that, in the long term, the U.S. government shutdown is still ongoing. A second rate cut of 25 BP has landed, and although the expectations for a rate cut in December have been suppressed, the overall expectations for rate cuts are gradually becoming clear. Geopolitical conflicts continue, and the acceleration of the trend of "de-dollarization" globally has jointly driven central banks and investors to continue purchasing gold. Global concerns about currency and debt have benefited gold due to the trading direction of debt and monetary easing, with a positive outlook for future gold prices. Benefiting from the rise in gold prices, the profit expectations for gold resource stocks have increased, and currently, the valuation of gold stocks is at a relatively low level, so follow the opportunities for gold stock allocation.

Electric Coin Company (ECC) released its roadmap for the fourth quarter of 2025, focusing on drop technical debt, enhancing Zashi user privacy and usability, and ensuring the smooth management of the development fund. Key priorities include temporary transparent Addresses, transparent Address rotation, and functionality improvements for Keystone devices. ECC stated that the roadmap is flexible and will be adjusted according to market changes.

Jin10 Data October 31 news, Jintongling announced that 5% or more shareholder Ji Wei's 13.9 million shares of the company have been transferred due to judicial auction and debt settlement, resulting in a passive reduction in holdings. Among them, 11.12 million shares were judicially auctioned, and 2.78 million shares were settled by goods, with a transfer price of 2.7279 yuan/share, and the transfer deadline is October 29, 2025. After this change in equity, Ji Wei and his concerted action person Ji Weidong's total holdings have decreased to 63.3779 million shares, accounting for 4.256% of the total share capital, no longer being a shareholder of 5% or more, and it does not affect the company's controlling rights and operations.

According to Foresight News, Tether CEO Paolo Ardoino stated that Tether holds $135 billion in U.S. Treasury bonds, making it the 17th largest holder of U.S. debt, surpassing South Korea and soon to overtake Brazil.

Joe Burnett, the strategic director of Semler Scientific, a Bitcoin treasury company, pointed out that despite JetBlue facing a weak financial situation and high debt, its comparison with Bitcoin assets shows that Bitcoin is gradually integrating into the traditional credit system and may become a safer financing foundation.

Golden Finance reports that the Canadian-listed encryption treasury company Universal Digital (stock code: LFG.CN) has announced it will finance $50 million through convertible debt to increase its holdings of Bitcoin.

Arif Husain from T. Rowe Price predicts that the yield on the 10-year U.S. Treasury bond could rise from 4% to 6%. He believes this is due to soaring sovereign debt, persistent inflation, and issues with bond valuations. However, political pressure may force the Fed to cut interest rates, impacting yields downward.

The Governor of the Central Bank of France, Villeroy, emphasized that the deficit needs to be kept within 4.8% of economic output to address the debt burden, and called for reducing the deficit to below 3% before 2029. He warned that additional deficit spending cannot drive economic rise, but believes that the economic momentum is strong this year.

According to ChainCatcher news and Bloomberg, the crypto mining company TeraWulf Inc. has completed a $3.2 billion debt transaction intended for the expansion of data centers.

Jin10 data reported on October 24th, Ray Dalio, founder of Bridgewater Associates, stated that history and logic clearly indicate that sanctions reduce the demand for fiat currency and its denominated debt, and support gold. Throughout history, when this situation occurs with major world powers and their reserve currencies, the global monetary order inevitably gets weakened. Therefore, as a form of non-fiat currency that can still be safely held and widely accepted, the holdings and price of gold will pump.

Golden Finance reports that data shows the scale of U.S. national debt has reached 38 trillion dollars for the first time.

Jin10 data, October 22 - Randall Bartlett, an analyst at Canadian financial company Desjardins, stated that the upcoming Canadian budget plan is likely to show that the federal government's debt-to-GDP ratio will be on a rising trajectory over the next decade. In the budget outlook, Bartlett expects the annual budget deficit for the 2025-26 fiscal year to reach approximately 74 billion Canadian dollars, which is more than 2% of GDP, reflecting increased defense spending to fulfill NATO obligations. The agency predicts that the federal debt-to-GDP ratio in Canada will approach 43% in the 2025-26 fiscal year and gradually rise to 46% within a decade. Looking back at the 2010s, this ratio in Canada remained at a low level of around 30% until the COVID-19 pandemic led to a surge in spending. Bartlett stated that he currently does not believe that the credit rating will be downgraded immediately.

According to BlockBeats news, on October 22, Eric Trump, the son of Trump, revealed in an interview with CoinDesk that he had discussed Bitcoin with Michael Saylor at Mar-a-Lago. Michael suddenly said to him, "Eric, you know, you need to mortgage this property; it has no debt right now. You need to mortgage it immediately and go buy Bitcoin." Eric Trump stated, "Michael Saylor is the kind of person who would suggest you sell your liver and kidney to buy Bitcoin. And he is probably right."

Against the backdrop of strong corporate profits in France, the CAC40 index has broken its historical high, reaching a maximum of 8240.92 points, offsetting concerns over political turmoil and credit rating downgrades. Investors are following the excellent earnings reports, believing that the market has absorbed the downgrade impact.

According to data from Eurostat, the financial situation of EU member states' governments continues to deteriorate, with overall net financial assets declining by 396 billion euros over the past year, highlighting issues of high debt and low assets.

Jin10 data reported on October 21 that New World Development (00017.HK) announced that the company is aware of certain media reports suggesting that it is preparing a debt management project for its perpetual securities, as well as potential equity financing from investors. The company hereby clarifies: it has not undertaken any debt management projects for its perpetual and other debt securities; and it has not received any equity financing proposals. Shareholders, debt and other securities holders, and potential investors are advised not to rely on market rumors concerning the group.

Some large global asset management companies' bond funds are avoiding forced sales of French bonds by adjusting investment rules. For example, funds from State Street and BlackRock no longer use strict AA credit rating standards as a Benchmark to maintain exposure to French debt. These changes have already shown results, especially after S&P downgraded France's rating.

Jin10 Data reported on October 20 that Colombian dollar bonds fell across the board on Monday, with recent gains being thwarted. This followed U.S. President Trump accusing Colombian President Gustavo Petro of being an "illegal drug lord," raising market concerns about potential economic retaliation against the country. According to indicative quote data compiled by institutions, the country's long-term dollar bonds have become the worst performers in emerging markets, with bonds maturing in 2061 falling nearly 1 cent to around 61 cents per dollar face value. In Bogotá's trading, the Colombian peso fell by 1.4%. Over the past three months, the country's bonds have continued to strengthen due to government reforms in borrowing strategies aimed at alleviating the debt burden. At the same time, the market is betting that after next year's elections, the country will shift to a more market-friendly government, which also provides support for the bond market. Last Sunday, Trump posted on social media that the U.S. would suspend aid to Colombia and announced that he would declare the tariff rates on Colombia tomorrow, further exacerbating market concerns.

Gate News Bot news, on October 20, according to CoinMarketCap data, as of the time of writing, TRU (TrueFi) is currently priced at $0.02, having risen 24.96% in the last 24 hours, with a peak of $0.03 and a low of $0.02. The current market capitalization is approximately $30.7 million, an increase of $6.13 million compared to yesterday. Ranked 709. TrueFi is a protocol dedicated to making credit more accessible, transparent, and programmable by bringing debt infrastructure on-chain. TRU is the governance token of TrueFi, used to approve new managers and borrowers. TrueFi offers a variety of opportunities for borrowers and project managers, covering "real-world" use cases and cryptocurrency institutions. The protocol is managed by TRU holders, who are responsible for approving new project managers and borrowers, and manage.

Ray Dalio analyzed the characteristics of Bitcoin and stablecoins in an exclusive interview with Caixin, stating that Bitcoin is a diversified asset but has drawbacks, and that Central Banks will not hold it. He believes that stablecoins are not a good means of storing wealth and are more suitable for transaction settlement, while he remains cautious about their ability to solve the U.S. debt issue.

Jin10 data October 16 - Israeli Central Bank Vice Governor Abir: monetary policy should remain cautious, and there is no need to rush to drop interest rates. Given that inflation is above the target level, the monetary policy has not been overly tight, nor has it lagged behind the situation. The end of the Gaza conflict should help to slow down defense spending and urge the government to take this opportunity to reduce the debt-to-GDP ratio. As the market is functioning well, there is currently no need to intervene in the Israeli new shekel. The economic performance is exceptionally good.

Jin10 reported on October 16 that CIFI Holdings Group (00884.HK) issued an announcement regarding the possible transaction for restructuring, which includes the issuance of approximately $4.1 billion of mandatory Convertible Bonds. The $4.1 billion new instruments to be issued are mandatory Convertible Bonds, and as the mandatory Convertible Bonds are converted into company shares, the company's overseas debt liabilities will continue to decrease.

PANews news on October 15 reported that the International Monetary Fund released a fiscal monitoring report stating that the global public debt-to-GDP ratio will reach a new high since 1948, predicting that by 2029, global public debt will exceed 100% of GDP; urging countries to establish fiscal buffers to cope with shocks.

Jin10 data reported on October 15, recently, the price of gold has been continuously strengthening. Li Shuaihua, chief analyst of non-ferrous new materials at China Post Securities, stated that in the short term, three factors are driving the rise in gold prices. First, the Fed lowered interest rates in September, releasing liquidity and attracting trading capital into the gold market; second, the intensification of global geopolitical conflicts has heightened risk aversion; third, central banks of various countries are accelerating the diversification of reserves to hedge against dollar credit risk, leading to a continuous increase in gold ETF open interest. In addition, the "shutdown" of the U.S. federal government further stimulates market risk aversion. Li Shuaihua believes that in the long term, first, the U.S. fiscal deficit and debt risk are difficult to resolve in the short term. Under high interest rates, the interest burden of U.S. Treasury bonds increases, exacerbating market concerns about dollar credit and driving continuous demand from central banks for gold purchases. Second, factors such as trade frictions weaken the dollar's dominance, highlighting the strategic value of gold as a safe-haven asset. Finally, international geopolitical conflicts, the Middle East situation.

Jin10 data October 14 news, British Chancellor of the Exchequer Reeves has set the tone for next month's difficult budget, stating at a cabinet meeting that high borrowing costs and debt levels mean there will be less money available for public services. A government spokesperson stated on Tuesday that Reeves attributes the current challenges to "the growth and productivity data being persistently below official forecasts for the past 15 years." In last year’s budget, the UK government mainly targeted tax increases on businesses, with a total tax burden of about £40 billion. Although Reeves had promised at the time not to raise taxes again in the short term, economists expect her to seek tax increases again in the new budget on November 26. According to informed sources, Reeves plans to set aside a larger fiscal buffer in next month's budget than the £9.9 billion from last year, to reduce borrowing costs and enhance the resilience of public finances to market fluctuations.

AlphaTON Capital Corp. has continuously expanded its TON reserves in the past week, purchasing 300,000 TON tokens on October 12, bringing its total holdings to 1.4 million. The company's debt-to-asset ratio remains low at 0.07, with no liquidation events occurring.

Odaily News Bitcoin News reported on the X platform that Canadian Bitcoin mining company Bitfarms has converted its $300 million debt financing with Macquarie into project-specific financing to fund the first phase of construction of its Panther Creek data center in Pennsylvania, which is expected to be operational by the end of 2026.

Ray Dalio, the founder of Bridgewater Associates, warned that the rapid rise in U.S. debt could lead to a situation similar to that before World War II, stating that the increase in debt is squeezing expenditures. He blamed politicians from both parties and called for measures such as raising taxes and cutting spending to address the "deficit/debt bomb," while also noting that global conflicts and wealth inequality have exacerbated unrest.

Foresight News reports that according to Bloomberg, sources reveal that Musk's xAI is raising funds beyond the initial plan, with investors including Nvidia increasing the scale to $20 billion, and Nvidia will invest up to $2 billion in this equity financing. This financing includes both equity and debt, and the funds will be injected into a Special Purpose Vehicle (SPV) for the procurement of Nvidia processors to be leased to xAI for its Colossus 2 project.

According to Foresight News, as reported by Jin10, AMD and OpenAI are launching a large-scale AI computing power expansion plan. OpenAI is considering financing the construction through equity, debt, and other means, and will deploy AMD (AMD.O) chips in its data centers and elsewhere. OpenAI stated that the entry threshold for inference work will become lower.

French Prime Minister Le Cournier resigned on October 6, following widespread criticism of the new cabinet, which led to a fall in national debt and a nearly 2% decline in the CAC40 index. The opposition believes that Macron's camp is facing an unprecedented political crisis, with the legitimacy of the government being questioned.

Golden Finance reports that Simon Gerovich, CEO of the Japanese Bitcoin treasury company Metaplanet, stated on social media, "The new high in Bitcoin prices reflects that the world is gradually recognizing a trustworthy monetary system, a system where prosperity is determined by freedom rather than debt."

ChainCatcher news, the UK's Financial Conduct Authority (FCA) has announced that it will lift the ban on retail investors purchasing encryption trading platform notes (ETN) starting next week, provided that the relevant products are listed and traded on FCA-approved local investment exchanges in the UK. Unlike ETFs, ETNs are debt securities linked to encryption assets and are not backed by physical assets. It is worth noting that the FCA has not simultaneously lifted the retail ban on encryption ETFs or derivations.

BlockBeats reports that on October 3, in response to the community's suggestion that "Ethereum ultimately needs to stop development at some point like BTC, or minimize maintenance," Vitalik replied, "I actually agree with this viewpoint. I support gradual ossification, and after short-term scaling, streamlining Ethereum, and addressing technical debt, I advocate for a more cautious approach to significant changes in the protocol."

Jin10 data reported on October 3rd that Italian Minister of Economy Giancarlo Giorgetti stated in the government's multi-year budget plan that the European Central Bank should resume interest rate cuts to revive the nearly stagnant Eurozone economy. He wrote in the budget document: "The overall stagnation of the European economy indicates that a more accommodative interest rate environment would be more desirable while adhering to the responsibilities of the European Central Bank." The budget plan approved by the Italian cabinet later on Thursday estimates that Italy's public debt interest expenditure will rise from 3.9% of GDP in 2025 and 2026 to 4.1% in 2027 and 4.3% in 2028, while the debt-to-GDP ratio target is expected to increase from 134.9% in 2024 to 136.2% in 2025 and 137.4% in 2026.

The Chief Investment Officer of the Government of Singapore Investment Corporation warned that venture capital in artificial intelligence is forming a "hype bubble" and pointed out that the technology has failed to keep up with high market expectations, which could lead to financial risks. He emphasized that the global economy is facing massive debt, and the difficulty in government spending cuts and tax increases could result in market volatility and a decline in monetary confidence.

Arthur Hayes pointed out at the Token 2049 event that the global debt-to-GDP ratio has risen significantly, and the United States is facing enormous debt pressure, which is expected to be addressed through money printing. He advises investors to avoid European assets and turn to hard assets such as gold and Bitcoin to cope with the risks of excessive liquidity and currency devaluation.

Jin10 Data September 29 - On Monday, gold prices broke through the $3,800 per ounce mark, as the risk of a potential U.S. government shutdown unsettles the market and the dollar weakens. Concerns over government debt levels and inflation, as well as doubts about the dollar's status as a reserve asset, have led to a significant rise in gold prices, which have increased by 45% this year. Analysts and market participants indicate that a major driver behind the recent spike in gold prices is the large-scale purchases of gold-backed ETFs by Western investors. A Deutsche Bank analyst wrote, 'The ETF demand re-entering the market so strongly signifies two forms of 'aggressive' buying from the Central Bank and ETF investors.' U.S. President Trump is set to meet with lawmakers on Monday to try to break the deadlock. If no agreement is reached on short-term funding, federal funds will expire on Tuesday.

Golden Finance reports that NYDIG's global research director, Cipolaro, calls for the cryptocurrency industry to stop using the "market to net asset value" (mNAV) metric, stating that it is inaccurate and misleading to investors. He pointed out that mNAV does not take into account the impact of diversified treasury companies and convertible debt, believing that this metric is of no help in assessing a company's value.

BlockBeats news, on September 28, NYDIG global research director Greg Cipolaro stated that the commonly used metric for evaluating encryption treasury (DAT) companies, "mNAV" (market capitalization to net asset value ratio), should be completely removed from industry reports as it may be misleading, not considering the operational business of treasury companies or other assets and liabilities they may have. The calculation of mNAV typically uses "assumed circulating shares," leading to the potential undercoverage of unconverted convertible debt.

Tech giants' investments in the AI sector are driving the rise of the US stock market, but the rising long-term Treasury yields pose a threat to this investment frenzy. Increased demand for debt financing and rising long-term Treasury yields will raise the cost of debt, affecting the growth rate of IT equipment and software investments, potentially leading to market downgrades of earnings forecasts for mega-cap companies.