for

On November 12, regarding rumors that Tencent is laying off 50% of its staff, sources close to Tencent stated that this is a serious misinterpretation and is completely untrue. The sources indicated that this is a realignment of company resources to adapt to the AI era, and it may also be the source of the so-called "50% layoffs" rumor, which is entirely unfounded.During Tencent's 28th anniversary Linktime online live broadcast, Tencent's management proactively expressed their determination to accelerate organizational change, specifically mentioning that this is different from the "cost reduction and efficiency enhancement" initiative from a few years ago. The previous initiative was relatively passive and more focused on "cost reduction"; this time, it is a proactive approach aimed at the AI era, more focused on "efficiency enhancement," inspiring teams to create new value, and encouraging frontline colleagues to actively step forward, while the middle management needs to become flatter and more agile.To respond to the new changes, there is a need for proactive thinking about new strategies and new battlefields. Among them, 50% of the people are like the army, responsible for defending their territory, improving efficiency to manage the existing core business well; the other 50% are like the navy, embracing the waves, exploring AI Native, and expanding new development spaces. The sources stated that the above arrangements correspond to the realignment of company resources to adapt to the AI era.

According to on-chain analyst Yu Jin's monitoring, Arthur Hayes transferred a total of 3 million USDC to the OTC trading platforms Flowdesk and Galaxy Digital about 10 minutes ago.Half a month ago, Hayes had liquidated various altcoins worth at least 49.25 million dollars and stated that he planned to wait for further price declines before buying again. Since then, the prices of the tokens he previously sold have dropped by about 15% to 30%. This recent transfer of USDC has sparked market speculation about his possible preparations to buy back in, but the specific use of the funds and buying plans have not yet been confirmed.

Ethlabs published an article on the Ethereum developer community forum, proposing to set 2027 as the target year for Ethereum to achieve post-quantum and post-AI capabilities, referring to this plan as "pqai27." The proposal argues that with the rapid enhancement of AI capabilities, the accelerated development of quantum computing, and the increased ability of AI models to discover software vulnerabilities on a large scale, Ethereum should prioritize strengthening the security of its underlying protocol to prepare for potential future cryptographic risks and cyberattacks.Ethlabs pointed out that the U.S. government has advanced its target date for addressing quantum risks from 2035 to 2030, while Google plans to achieve post-quantum capabilities by 2029. At the same time, AI is solving a large number of long-standing mathematical problems and can also discover software vulnerabilities on a large scale. Ethlabs believes that although there is currently no evidence that existing cryptographic primitives will definitely be broken by AI, the associated risks are difficult to predict accurately, making it necessary to advance security upgrades proactively.In terms of the technical roadmap, Ethlabs divides the goals into two phases: the first is "pqai-ready," which means the Ethereum consensus layer will achieve a post-quantum upgrade, allowing all users to have a path to migrate to post-quantum accounts; if existing cryptography fails prematurely, the network can still operate with reduced processing capacity. The second is "pqai-scaled," which means supporting post-quantum transactions and data availability under full network capacity, aiming for post-quantum transactions to reach the processing scale of ordinary transactions, including post-quantum signature aggregation and post-quantum data availability solutions.To achieve this goal, Ethlabs suggests reassessing the scope of the upcoming hard fork Hegotá, reconsidering upgrades that do not belong to the critical path of pqai27. Among them, Frames and related post-quantum account proposals are still regarded as key components; FOCIL needs to be reassessed for its impact on upgrade progress and post-quantum compatibility. Additionally, Ethereum needs to choose between the post-quantum transformation of the existing Gasper consensus protocol and transitioning to a decoupled consensus. Ethlabs stated that to concentrate resources on advancing pqai27, it will withdraw the Quick Slots feature previously sought for Hegotá and plans to continue promoting this feature in 2028. The Glamsterdam upgrade and its scaling plan will proceed as originally scheduled. This roadmap remains a suggestion proposed by Ethlabs and will require further discussion and determination by Ethereum core developers.

According to the Science and Technology Innovation Board Daily, Doubao Work has officially integrated with multiple third-party models such as Kimi 3.1 Pro, GLM 5.3, and DeepSeek V4.1 Flash.In addition, Doubao Work has launched a limited-time discount for Doubao 2.1 Lite and DeepSeek V4.1 Flash, reducing the consumption multiplier for these two models.

According to the Science and Technology Innovation Board Daily, at the opening ceremony of Baidu World 2026, Baidu founder Robin Li stated that the iteration speed of models is very fast, with more than one new model released almost every day in the first nine months of this year. At the same time, the demand for model invocation has experienced a huge explosion, leading to the emergence of a batch of token transfer stations. To this end, Baidu launched the large model trading platform, Token Exchange.Robin Li stated that Token Exchange is a marketplace for large models, aiming to gather high-quality models and model providers, allowing enterprises and even individuals to easily find, purchase, and use reliable model tokens. Since its launch a month ago, over 100 supply resources have settled in Token Exchange, with an average daily invocation exceeding 50 million times and an average daily token invocation surpassing 700 billion.

On November 11, the Selangor police in Malaysia publicly destroyed 186 seized Bitcoin mining machines, with the state police chief, Shafie, personally driving a bulldozer to crush the equipment. This destruction operation involved 7,445 pieces of evidence seized between 2021 and 2026, with a total value of approximately 1.19 million Malaysian Ringgit, which has been approved by the court.In addition, the Perak police recently collaborated with the national energy company to raid a residential house suspected of stealing electricity for mining, seizing another 48 Bitcoin mining machines. An investigation is currently underway based on relevant criminal and electricity regulations.

According to the Russian newspaper "Kommersant," Russia's PSB Bank has applied to the court to declare Igor Runets, the founder of the large cryptocurrency mining company BitRiver, personally bankrupt, seeking to recover approximately 773 million rubles.PSB stated that Runets had guaranteed loans for BitRiver's subsidiary BitRiver-B, and since the borrower failed to repay the debt on time, Runets must bear joint liability. In February of this year, Runets was placed under house arrest by the court for allegedly concealing funds or assets that could be used to recover unpaid taxes. Currently, some companies under the BitRiver group have also entered bankruptcy observation procedures.

Tianfeng International Securities analyst Ming-Chi Kuo stated that Jensen Huang's importance to NVIDIA lies in his ability to transform technologies deemed feasible by engineers into products that the company must invest resources in, take risks on, and deliver. He believes this provides the supply chain with strong order visibility and a willingness to cooperate with aggressive specification upgrades; this move will also force competitors to follow suit, thereby driving technological upgrades and supply chain investments across the entire AI industry.Kuo mentioned that compared to providing order visibility to the supply chain, deciding on and implementing aggressive specification upgrades is more challenging. Jensen Huang does not need to be the person within NVIDIA who understands new technologies such as HVDC, CPO/NPO, or CCL/PTFE the best; his value lies in weighing strategy, organization, technology, and supply chain simultaneously, and making decisions and allocating resources quickly. He indicated that based on the information currently available, it is difficult for Jensen Huang to step back completely; if so, the actual approach may be to gradually reduce NVIDIA's reliance on Huang's personal decisions while preparing a succession plan. Two things worth observing in this process are whether NVIDIA can continue to develop new products and technologies as efficiently as before, and how competitors will respond. He stated that supply chain research will be an important basis for judging the direction of AI technology and investment.

According to Coinglass data, the current whale holdings on the Hyperliquid platform amount to 5.971 billion USD, with long positions at 2.748 billion USD, accounting for 46.02% of the holdings, and short positions at 3.223 billion USD, accounting for 53.98%. The profit and loss for long positions is -163 million USD, while for short positions it is 252 million USD.Among them, the whale address 0x5b5d..60 has shorted BTC with a 5x leverage at a price of 76383.1 USD, currently showing an unrealized profit and loss of 6.3977 million USD.

AMD disclosed server processor and die interconnect layout at the In Depth technology forum. Venice uses TSMC's N2 process and CoWoS-L advanced packaging, and introduces elevated fan-out bridge (EFB). The subsequent Verano will adopt the N2P process. AMD's server architecture head Mahesh Subramony stated that as the number of computing cores increases, more data needs to be transmitted between dies, and EFB reduces power consumption and latency through short-distance interconnects. AMD expects the data center CPU market size to grow from approximately $26 billion in 2025 to about $220 billion in 2030, with a compound annual growth rate of over 50%.In terms of packaging collaboration, ASE and SPIL are involved in the development and validation of wafer-level 2.5D bridge interconnects, and AMD has completed panel-level EFB interconnect validation with Powertech. AMD announced in May 2026 that it will invest over $10 billion in the Taiwanese industrial ecosystem to expand strategic cooperation and advanced packaging capabilities. Regarding product progress, the Venice SP7 platform has been shipped, with the SP8 aimed at the enterprise market expected to be supplied in the first half of 2027, and Verano and Venice-X scheduled for release in the second half of the same year, with related server processor products targeted for mass production in 2027.

According to Catcher Predict monitoring, in the market prediction on Polymarket for the event "Counter-Strike: Legacy vs Team Falcons - BLAST Rivals Group A," the sub-market "Total Rounds in Map 3: Over/Under 21.5" has seen a sharp fluctuation in the win rate of the "Over" option, dropping from 51% an hour ago to the current 28% (a fluctuation of 23%). Please note the impact of related breaking news.

According to Forbes, the board of directors of Nvidia is preparing to dismiss CEO Jensen Huang, who has served for 33 years, and may hold a meeting on November 11. Forbes reports that since The New York Times first reported on October 29 about Huang's relationship with Megaspeed executive Huang Le, Nvidia's market value has evaporated by approximately $1 trillion. In after-hours trading on November 11, the stock price fell another 8%. Wedbush analyst Dan Ives warned that if Huang is dismissed, the market value could evaporate another $1 trillion to $1.2 trillion.On November 8, Huang admitted to being unfaithful in a letter to employees. An Nvidia spokesperson stated that Huang is committed to leading Nvidia without interruption. On November 11, The New York Times reported again that Huang has an extramarital affair with Kimberly Powell, the vice president of the company's healthcare business who reports to him. Forbes cited that before this report was released, Doug Clinton from Intelligent Alpha estimated the likelihood of Huang leaving the CEO position at 10% to 20%, while Yale professor Jeffrey Sonnenfeld believed the chances of staying or leaving were equal.Forbes stated that Nvidia does not have a public succession plan, and Huang has 60 direct subordinates. Newsweek believes that if he steps down, CFO Colette Kress may serve as interim CEO. Nvidia has set its third-quarter revenue guidance at $10.8 billion, with analysts expecting a year-over-year growth of about 91%. The company is scheduled to announce its financial report on November 17. Forbes also cited SFist, stating that if Huang's wife files for divorce, under California's community property rules, the settlement amount could be between $62.6 billion and $81.1 billion.

The independent Solana validator alliance Layer33 responded to the adjustments of the Solana Foundation Delegation Program (SFDP) rules. The alliance is composed of independent validators, aiming to push for independent operators to collectively hold at least 33% of the network's stake. Layer33 stated that it acknowledges the foundation's remarks that the network scale has exceeded the initial launch plan, the validator pool has matured, and it faces challenges that were not envisioned in the early stages, believing that the delegation mechanism should evolve accordingly. The organization indicated that the new rules replace long-term contributors with short-term participants for a duration of 12 months.Layer33 mentioned that the foundation, in subsequent statements, indicated that participants from the Alpenglow community cluster provided crucial assistance and should receive direct rewards; part of the related adjustments is to make such rewards possible. The organization stated that the SFDP currently holds over 10 million SOL in remaining delegation, and providing substantial rewards to cluster participants does not require dismantling the existing plan; the foundation expressed that the intended recipients of the rewards are precisely the group prioritized for exit. Layer33 also noted that validators remaining in the program will see their SFDP delegation decrease from approximately 85,000 SOL to 55,000 SOL, reducing by about 30,000 to 35,000 SOL; some operators have already shut down nodes and canceled their Breakpoint schedules.Layer33 stated that it does not demand the foundation to change direction but rather to advance in the correct order and update the requests made in the previous open letter: to suspend weekly exit batches until communication regarding not abandoning contributors improves; to supplement details on rewards for Alpenglow community cluster participants; to disclose the analysis behind the 300,000 SOL external staking graduation line, the cap of 100 validators, the 12-month term, and the 55,000 SOL delegation scale; to publish an impact assessment on the current validator pool, including how about 75% of members are identified as non-contributors; to conduct formal consultations with existing SFDP members with processes and timelines; to disclose contribution-based delegation standards and application processes, running parallel with discretionary delegation; and to explain why the program places more emphasis on new validators rather than contributors who have operated and improved the Solana network for many years.

Zach Pandl, the head of research at Grayscale, pointed out that the number of monthly active developers for Zcash has roughly doubled over the past two years, while the broader cryptocurrency developer community has declined from its peak during the same period.About 70% of Zcash's active developers have over a year of experience in cryptocurrency development, which is higher than the overall industry average of 58%. These developers possess expertise in zero-knowledge proofs and post-quantum cryptography research. The article suggests that the continued engagement of developers indicates the network's capability for ongoing improvement. The growing developer community of Zcash combines a strong privacy ethos with the goal of making private digital currencies more accessible. This momentum is expected to continue supporting protocol innovation and may ultimately translate into an increase in ZEC valuation.

According to Bloomberg, Nvidia is collaborating with an external company to find the next CEO candidate and is considering appointing an interim CEO before determining a formal successor. The Nvidia board is preparing to remove Jensen Huang from the CEO position and will hold a meeting as early as November 11 to discuss his future, with no final decision or successor announced yet. Nvidia did not immediately respond to requests for comment.Following the related news, Nvidia's stock price fell about 9% in after-hours trading, having previously risen 2.9% during regular trading hours. CoreWeave, Micron, Intel, and Dell fell 6%, 1.9%, 2.7%, and 3% respectively in after-hours trading; AMD, Broadcom, and Google's parent company Alphabet rose 3.8%, 3.4%, and 1% respectively.

According to screenshots circulating on social platform X, the official X account of the digital asset trading platform Websea once posted an accusatory tweet, publicly accusing the company's owner and CEO of withholding employee salaries and reimbursements, which was later deleted.The content of the screenshot shows that the poster claims employees have dedicated time and effort to the company but have not received basic salaries and work reimbursements, and alleges that the company has seemingly stopped normal operations, with management failing to provide a clear payment arrangement. The poster demands that the owner and CEO of Websea respond directly to the issues of unpaid salaries and reimbursements, publish a clear and credible payment schedule, and settle all outstanding employee payments as soon as possible, while also calling for industry attention to this matter.

According to the market information platform Liquid247.xyz, the current price of ETH is $2,057.15. The thickest order book is on Binance spot: buy orders amount to $8.1037 million, sell orders amount to $7.3768 million, with buy orders exceeding sell orders by $726,900.Coinbase's spot buy orders are also thicker than sell orders, but the scale is smaller than that of Binance spot. If the price falls, the buy orders on Binance spot are relatively thicker.

Layer 2 network Katana plans to launch a buyback mechanism supported by protocol revenue for KAT stakers. The network will eliminate the emission voting mechanism on November 17 and shorten the unstaking cooldown period.The buyback will be initiated separately, and full on-chain automation will be achieved subsequently.

More than a week after the "blue wave" in the U.S. midterm elections allowed the Democratic Party to gain control of both the House and Senate, there are still 14 election results yet to be announced. According to Stand With Crypto, the results that have been announced have increased the number of crypto supporters in both chambers, and the remaining elections may bring in more supporters. In the undecided House races, three candidates have received support from the crypto political action committee (PAC), and all candidates in these districts are classified as "strongly support crypto" or "undecided."Specifically, Alaska Congressman Nick Begich is currently leading, with Fairshake's Republican affiliate Defend American Jobs investing $508,000 in him during the primary in early August; the same PAC invested $150,600 in North Carolina's 7th District Congressman David Rouzer, who is also leading. Louisiana State Senator Blake Miguez will enter the runoff on December 12 against the state's 6th District Democrat Chauna Banks, with Fellowship PAC investing $250,000 in him. On November 11, the Associated Press determined that South Carolina's 2nd District incumbent Congressman Joe Wilson won, and Stand With Crypto rated him as "strongly support crypto." His victory brings the total number of crypto supporters in the House to 246 and opponents to 107, while the Senate has 50 supporters and 33 opponents.Lindsay Fraser, Chief Policy Officer of the Blockchain Association, stated that the undecided new lawmakers "represent an opportunity." She noted that nearly a quarter of the new Congress members are newcomers, many of whom have not given much thought to blockchain technology, which is akin to "a blank slate." The association plans to organize outreach activities in January next year to engage newly elected lawmakers, aiming to get more lawmakers into Stand With Crypto's A and B ratings. She also mentioned that age influences lawmakers' crypto voting tendencies more than party affiliation, with lawmakers under 55 being significantly more likely to support the industry, and the new Congress overall being younger; she hopes the industry can face two candidates with in-depth thoughts on the industry in the 2028 election, avoiding the industry's fate being dependent on a single election outcome.