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ChainCatcher reported that Tether, the world's largest stablecoin issuer, is hiring two of the most senior global precious metals traders from HSBC Holdings. This stablecoin giant is leveraging its strong financial resources to build a massive gold reserve and challenge established participants in the gold and silver markets. According to sources familiar with the matter, Vincent Domien, HSBC's Global Head of Metals Trading, will join the cryptocurrency company in the coming months, along with Mathew O’Neill, Head of Precious Metals for Europe, the Middle East, and Africa. In recent years, Tether has actively expanded its footprint in the precious metals sector, accumulating one of the world's largest gold reserves outside of banks and nations as part of its more than 180 billions USD in reserve assets. HSBC is a key player in the precious metals sector, widely regarded as the second largest participant after JPMorgan, with business spanning futures trading, vault custody, and global gold bar transportation.

Jinse Finance reported that the four-week average report from the US Automatic Data Processing company (ADP) showed that, for the four weeks ending October 25, 2025, private sector employers laid off an average of 11,250 workers per week, indicating that the labor market struggled to sustain job creation in the latter half of the month. These figures are preliminary and may change as new data is added. Last week, the ADP National Employment Report showed that after two months of decline, employment growth recovered in October, with private sector employers adding 42,000 jobs. Although this growth was welcomed, it was not broad-based. Education and healthcare, as well as trade, transportation, and utilities, led the growth. In professional business services, information, and leisure and hospitality, employers cut jobs for the third consecutive month. More and more people believe that due to reduced demand for workers and supply shortages, employment growth will remain slow for the foreseeable future. ADP Chief Economist Nela Richardson stated that as both labor supply and demand slow down, economists are looking for a new breakeven rate. This is the minimum number of jobs the economy needs to add each month to keep the unemployment rate stable. Looking ahead, the breakeven rate may no longer be a stable constant, but is more likely to change continuously.