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Investor Serenity (@aleabitoreddit) posted that the current market deleveraging has become quite severe, with investors indiscriminately selling stocks related to the AI industry chain. Some companies' stock prices have even fallen back to levels before significant orders and performance expectations were realized.Serenity cited the storage chip company ESMT as an example, noting that the company has a market capitalization of about $2 billion, achieving a gross profit of $526.2 million and a net profit of $330 million in the third quarter, with net assets of approximately $937 million, of which net cash is about $740 million. Based on current performance annualized, its price-to-earnings ratio is only about 1.6 times. Despite ongoing market concerns about the cycle peaking, unsustainable profits, and lack of competitive barriers, the trend of DDR2 and DDR3 production lines exiting is tightening supply, and ESMT expects to hedge against declining consumer demand in the fourth quarter by raising product average prices.Serenity also pointed out that manufacturers like Samsung and Micron are gradually exiting DDR2 and DDR3 production lines, and Nanya Technology has also stopped related production lines, while ESMT's revenue mainly comes from these two types of storage products. It believes that the market underestimates the price support brought by the contraction of traditional storage supply and ignores the situation where Micron, Samsung, SK Hynix, and SanDisk are locking in profitability through long-term supply agreements and price floors. Serenity criticized that the market is selling off AI and storage industry chain companies that actually generate substantial cash flow while shifting funds to companies like Walmart, which has a price-to-earnings ratio of about 47 times, and CrowdStrike, which has a forward price-to-earnings ratio of about 180 times. The current focus is not on the actual free cash flow generated by companies but rather on indiscriminate selling.

According to SubConnect, its latest Bittensor revenue index shows that the annualized revenue generated by the subnet in the Bittensor ecosystem has risen to approximately 70 million USD. Last month it was about 50 million USD, and two months ago when the index was first released it was about 35 million USD, with a month-on-month growth rate of approximately 40%.

According to a case published by the People's Court of Fusui County, Guangxi, in 2020, a couple in their seventies, referred by an acquaintance, participated in an overseas virtual currency mining machine financial management project, initially investing 4,200 yuan and successfully recovering the principal, followed by additional investments of over 60,000 yuan.In December 2020, the involved platform was shut down, and the funds could not be withdrawn. In early 2026, the couple sued the investment introducer and the actual operator, demanding the return of all investment funds and interest.The court found that the virtual currency investment behavior involved violated relevant financial regulatory provisions and contravened public order and good morals, rendering the entrusted financial management contract invalid. The investment losses primarily stemmed from the illegality of virtual currency trading itself and platform risks, rather than being directly caused by the actions of the trustee. Based on this, the court dismissed the plaintiff's lawsuit, and the second instance upheld the original judgment, which has now taken effect.

According to the Economic Times, Prabhjeet Singh, Managing Director of OpenAI India, stated that India has become the largest market for ChatGPT globally in terms of weekly active users, with the number of local users doubling since January this year. Singh joined OpenAI in August this year, marking his first media interview since joining.Singh mentioned that OpenAI expects to release announcements related to the Unified Payments Interface (UPI) and payments in the coming weeks, as enterprise clients transition from pilot and demonstration phases to large-scale production deployment. Addressing concerns about the potential misuse of autonomous AI entities, Singh stated that OpenAI is collaborating with government agencies and businesses to protect critical infrastructure.

A trader has been liquidated multiple times in the past 7 days, involving positions exceeding 52.5 million dollars, and currently still holds about 5.54 million dollars in BTC short positions.

CryptoQuant analyst Darkfost stated that on-chain data shows that the "seller exhaustion model" indicator for Bitcoin has dropped to its lowest level since the bear market began. This model measures whether sellers still have enough chips to continue pushing prices down by comparing the market's profitable supply ratio with the average monthly volatility.As BTC has corrected more than 10% from its previous high, short-term profit-taking in the market has basically concluded, and selling momentum has significantly weakened. Historically, this sharp decline in selling pressure typically aids in the formation of market bottoms. The analyst also warned that reduced selling pressure does not equate to an immediate market rebound. The current core contradiction lies in the fact that although sellers have calmed down, the market still lacks sufficient "new demand" to drive prices upward. Until substantial buying capital returns, Bitcoin's upward potential remains limited.

According to monitoring by Lookonchain, a newly created wallet withdrew 521,501 UNI (3.69 million USD), 915,747 MORPHO (1.95 million USD), and 10 million ARB (1.54 million USD) from Bybit.

According to the Science and Technology Innovation Board Daily, on November 4, 2026, the IPO guidance public announcement system on the official website of the China Securities Regulatory Commission showed that the Hong Kong-listed company Xizhi Technology (1879.HK, Shanghai Xizhi Technology Co., Ltd.) submitted an A-share IPO guidance filing to the Shanghai Securities Regulatory Bureau, with Guotai Junan as the guiding securities firm.Xizhi Technology was established in February 2018, with its registered location in Zhangjiang, Shanghai. Its main business is the research and development, and sales of optical interconnection and optical computing products. In 2025, the company achieved an operating income of 106 million yuan, with a net profit attributable to the parent company of -1.342 billion yuan. As of the close of the Hong Kong stock market on November 3, the company's total market value was approximately 14.7 billion Hong Kong dollars.

According to the market information platform Liquid247.xyz, the current price of ETH is $2,266.13. The thickest order book is on Binance spot: buy orders amount to $9.0174 million, sell orders amount to $7.0547 million, with buy orders exceeding sell orders by $1.9626 million.Binance perpetual and Coinbase spot buy orders are also thicker than sell orders, but on a smaller scale. If a large buy or sell order suddenly appears, exchanges with thinner order books will be affected first, and price fluctuations will be more pronounced.

According to OnchainLens monitoring, Yeti0x exchanged approximately 2.49 million dollars of kHYPE for HYPE and transferred it to Hyperliquid, then began selling in the spot market.

According to The Block citing News1, Kim Min-seok, the leader of South Korea's ruling Democratic Party, stated that he has officially proposed to the government to postpone the cryptocurrency income tax. This tax law was originally set to take effect on January 1, 2027.During a party meeting, Kim Min-seok mentioned that South Korea should first establish the "Basic Law on Digital Assets," which serves as a legal framework for cryptocurrency, allowing businesses and investors to adapt before taxing cryptocurrency gains.

According to The Block citing the Korean Central News Agency, Kim Yo-jong, the Minister of the Workers' Party of Korea, issued a second statement regarding the Binance hacking incident, stating that North Korea is willing to engage in dialogue, but this may not necessarily align with national interests.Kim Yo-jong is the sister of North Korean leader Kim Jong-un. She previously criticized the United States for blaming North Korea for the $6.3 billion Binance vulnerability incident.

According to CoinGlass data, in the past 24 hours, a total of 96,160 people were liquidated across the network, with a total liquidation amount reaching 396 million USD. Among them, long positions accounted for 322 million USD, or 81.3%; short positions accounted for 73.9155 million USD, or 18.7%.By cryptocurrency statistics, the liquidation amount for Bitcoin was approximately 107 million USD, with long positions accounting for 82.4%; the liquidation amount for Ethereum was approximately 59.9064 million USD, with long positions accounting for 66.0%; the liquidation amount for other cryptocurrencies was approximately 52.3833 million USD, with long positions accounting for 81.8%.The largest single liquidation in the past 24 hours occurred in the BTCUSDT trading pair on Binance, valued at approximately 8.7809 million USD. Binance accounted for 48.6% of the total liquidation amount across the network.

According to The Block, the Aztec Foundation behind the Ethereum privacy Layer 2 network Aztec has launched the Tierra (Alpha V6) upgrade, which fixes security vulnerabilities from previous versions, including a critical vulnerability in V5, and introduces an AI-based security testing system.In terms of performance, the new version doubles the speed of generating privacy transaction proofs, taking only about 1 second on local devices; the time for Ethereum messages to reach Aztec has also been reduced from an average of about 2 minutes to as fast as 12 seconds, further enhancing cross-chain deposit and transaction efficiency. Aztec stated that due to the network's decentralized architecture, fixing critical vulnerabilities requires an upgrade of the entire network, and plans are currently underway to accelerate the deployment of future security updates.In terms of ecosystem, Aztec has recently relaunched the self-custody privacy wallet zk.money, and several applications are being launched or prepared for launch, including Galactica, which supports privacy AI inference, the privacy perpetual contract trading platform Nemi, the privacy browser wallet Nulo, and Xochi and Nyx, which support privacy payments and transactions. Meanwhile, Aztec has also released a new brand image and website, aiming to become the infrastructure platform for privacy applications.

The Information investigated the smuggling chain of high-end storage chips in South Korea and interviewed a dealer in Shenzhen in his 20s. He originally worked at a chip company and transitioned to the chip black market business by leveraging his network. Having been in the industry for only three years, he is now dressed in luxury brands and busy connecting buyers and sellers every day. The United States will begin to restrict exports of advanced high-bandwidth memory (HBM) to China starting at the end of 2024, but the rules have loopholes: HBM exports are restricted when sold separately, but if packaged together with processors, it may be judged based on the processing power of the processor to determine if it crosses the regulatory line.A smuggler in his 40s controls a chip design company that specializes in designing cheap and lower-performance server processors. These chips are rarely purchased but are used as a pretext for procuring high-end HBM from South Korea. Packaging factories place HBM from Samsung and SK Hynix on the same substrate as these processors and declare exports under the category of low-performance processors. After the goods enter mainland China via Hong Kong, workshops reheat and remove the HBM, while the cheap processors are discarded, and any mishandling during disassembly could damage the memory.A stack of HBM3E in the Chinese black market was priced at only a few hundred dollars a year ago, but it has now risen to about 4,000 dollars. An AI chip typically requires 6 to 8 stacks, costing between 24,000 to 32,000 dollars just for the memory. Some of the memory ultimately flows to Huawei customers. Huawei's next-generation Ascend 960DT is scheduled to launch in the first quarter of 2027, but there is a shortage of domestic HBM supply, and Huawei has asked some customers to procure memory on their own. With the increase in imitators, the aforementioned smuggler responsible for procuring chips from South Korea plans to sell his controlling stake in the company next year, fearing that the spread of the route will attract strict scrutiny from regulatory authorities in South Korea and the United States.

According to on-chain analysts' monitoring, the hacker suspected of stealing 106 million dollars from EU entities bought 27,553 ETH (62.83 million dollars) in a single day yesterday, with all transactions completed on-chain at an average price of 2,280.34 dollars. It seems that they have currently paused their purchases.

According to a report by the Korean News Agency, members of the Democratic Party in the National Assembly's Finance and Economy Committee have decided to recommend to the party leadership to postpone the taxation of virtual assets originally scheduled to be implemented next year.After a party consultation meeting, the ruling party's secretary Woo Gi-hyung stated that the majority opinion among the committee members leans towards postponing it for about 2 years.

The prediction market platforms Polymarket and Kalshi are optimistic about the Democratic Party controlling both the House of Representatives and the Senate in the 2026 U.S. midterm elections. Polymarket gives a 78% probability, with related market trading volume exceeding $58 million; Kalshi gives a 74% probability, with related contract trading volume exceeding $100 million.The individual Senate district markets on both platforms also favor Democratic candidates: James Talarico has a winning probability of 74% to 76% in Texas, Troy Jackson has 73% in Maine, and Abdul El-Sayed has 78% in Michigan. Traditional polls also indicate that the Democratic Party may experience a "blue wave."Kalshi CEO Tarek Mansour stated that this election is the first prediction market election, with related betting transactions exceeding $1.4 billion. However, the platform previously failed to predict Brazilian President Luiz Inácio Lula da Silva's victory in the runoff, and its impact on voter behavior and electoral credibility is also under scrutiny.

Cryptocurrency bank Custodia Bank has submitted a reply brief, urging the U.S. Supreme Court to review a ruling by the Tenth Circuit Court of Appeals. The ruling allows regional Federal Reserve Banks to refuse to open master accounts for depository institutions that meet the statutory conditions.