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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.

Co-founder of Fundstrat and Chairman of Bitmine, Tom Lee, stated on CNBC's "Squawk Box" that he believes the sell-off in AI stocks has bottomed out, reasoning that the demand in the AI market remains tight and supply is limited, not due to overcapacity. He admitted that determining the bottom is very difficult, saying, "At the bottom, you don't know how much more downside there is, so the bottom is dangerous." He further pointed out that spending constraints, including political resistance, are slowing down industry growth, but this does not mean the AI boom has peaked.This judgment is particularly critical for companies related to AI infrastructure. Taking the data center business as an example, the supply shortage may cause customers to queue and also limit suppliers' ability to convert orders into revenue. Intel's stock plummeted nearly 30% to $65.76 last Friday due to its fourth-quarter earnings guidance falling short of expectations; despite revenue from data center and AI business growing 78% year-on-year to $7.3 billion, manufacturing capacity constraints still prevent it from meeting demand. The company expects quarterly revenue to be between $15 billion and $16 billion, with the median about $1.6 billion lower than analysts' expectations, and the weak PC business further increases pressure.Lee's second argument comes from the cryptocurrency market. He noted that the cryptocurrency market's reaction to the Binance security incident was relatively limited, with the exchange initially estimating the affected scale at about $6.3 billion. He believes that if cryptocurrency is a leading indicator of risk assets, then the sellers have basically cleared out. Last Friday, Bitcoin fell about 4% to around $76,400, with over $1.3 billion in leveraged positions being liquidated, and the U.S. spot Bitcoin ETF saw a net outflow of $643.2 million that day, marking the largest single-day outflow in October. Binance stated that it has frozen about $3 billion in affected assets and promised to cover the losses with emergency reserves and company funds.

According to an interview with the New York Post, U.S. President Trump stated that if Democrats follow through on their threat to sue his government staff, he is willing to offer preemptive pardons to those who have worked for his administration if necessary.When asked if this would apply to all who have worked for him, Trump said he would do so and mentioned previous pardons for those charged in the January 6 Capitol riot. Regarding the talk of arresting Musk, he said it was just speculation, but there is a need to protect the individuals involved.

According to HTX market information, the native token RUNE of the cross-chain protocol THORChain has dropped about 20% in the past 24 hours, briefly falling below $0.5. During the previous Bitget hacking incident, a large amount of funds were exchanged through THORChain, leading to a surge in trading volume and fees, which the market viewed as a positive for protocol revenue, resulting in an increase in RUNE.This decline is due to heightened regulatory and security risks, with the market concerned about whether THORChain can resolve the conflict between security and regulation while maintaining its permissionless nature. On-chain data shows that after the Binance hack, hackers deposited approximately 185.1 million TRX and 3.83 million USDT through THORChain, totaling about 2,697 deposits, net exchanging around $48.3 million, and actually receiving about $42.7 million, with losses of about $5.7 million due to fees and slippage.At the same time, the FBI, U.S. Secret Service, and IRS-CI jointly requested THORNode, RPC nodes, and DeFi service providers to intercept funds related to North Korean hackers. THORChain co-founder Chad Barraford stated that node operators do not have more information than the public and have not made a clear commitment to proactively block addresses. Another co-founder, JP Thor, publicly opposed cooperating with freezes, believing that the principles of decentralization and permissionlessness should be upheld.

According to Gate market data, the South Korean KOSPI index turned positive on November 2, after falling more than 1.5%. SK Hynix rose 0.7%, while Samsung Electronics fell 1%.

The South Korean cryptocurrency exchange Upbit officially announced the digital asset holdings of its parent company Dunamu's investment subsidiary Dunamu&Partners as of October 2026. The announcement shows that the institution currently holds 2,081.84950412 BTC, with a total selling quantity of zero and no trading records.According to the announcement, Dunamu&Partners stated that if the projects it invests in are listed for trading on Upbit, it will not sell the related digital assets within three months from the date of the first listing, and will disclose changes in holdings at the end of each month through announcements on Upbit.

The KOSPI index in South Korea closed down 209.62 points, a decrease of 3.53%, at 5728.04 points, with SK Hynix falling about 7% and Samsung Electronics dropping about 3%.The Nikkei 225 index closed down 1369.36 points, a decrease of 2.12%, at 63290.11 points, with electronic stocks dragging down the market.

The stablecoin network Plasma builder Googly, while forwarding reports of a cryptocurrency-related home invasion in France, stated that in another case, criminals broke into a residence and violently attacked the entire family, mistakenly believing the homeowner held 660 BTC. Googly mentioned that the homeowner made a typo when filing taxes and that related information was leaked, with the actual holding being only 0.066 BTC. Googly is also engaged in trading and angel investing at APG Capital.The cited post references Le Parisien, stating that on February 6, 2026, several masked men broke into the home of a couple and their 20-year-old daughter in Juilly, Seine-et-Marne. The attackers believed the father held 660 bitcoins, worth about 40 million euros, and beat the father in front of the family, demanding access to the cryptocurrency wallet. After checking the accounts, the first wallet contained only 3,000 dollars, and the other two accounts totaled nearly 7,000 euros. Two members of the assault team were sentenced to 3 years and 18 months in prison on October 16.

According to Onchain Lens monitoring, the Binance hacker has begun selling STRK, increasing market selling pressure.The total unrealized profit of two Hyperliquid traders' STRK short positions is 4.46 million dollars, with one having an unrealized profit of 1.61 million dollars and the other having an unrealized profit of 2.85 million dollars.

According to a report by the Science and Technology Innovation Board Daily on October 30, the artificial intelligence company Zero One Everything, founded by Kai-Fu Lee, has reached a cooperation agreement with Hangzhou City and Linping District. The municipal and district-level state-owned assets will jointly invest hundreds of millions in Zero One Everything, with the company's headquarters established in Linping, and it will create an industrial AI transformation base.The report states that Zero One Everything is currently in the Pre-IPO layout period, having previously set a 2027 IPO target and a performance target of 1.5 billion yuan in orders for 2026. The company's strategy has shifted from developing foundational large models to the industrial AI track, focusing on an AI transformation operating system.

The cryptocurrency trading platform Bitget stated that the platform is currently safe and stable, with all services operating normally. Bitget expressed support for Binance and the broader cryptocurrency industry, emphasizing that security is not a competition but a shared responsibility of the industry.Bitget will continue to implement professional security standards, prioritize user experience, and expressed willingness to provide support within its capabilities.

According to official news, regarding the recent security incidents involving Bybit, Bitget, and Binance, OKX founder and CEO Star stated that security should not be a field of commercial competition, but rather a shared responsibility of the entire cryptocurrency industry. Over the past decade, major exchanges have made significant progress in private key protection, but there are still potential risks in access control and wallet management systems. He emphasized that no system is absolutely secure, and any major security breach at an exchange could undermine the trust of the entire industry.Star called on major exchanges in the cryptocurrency industry to strengthen cooperation and jointly establish stricter industry security standards and coordinated response mechanisms, including increasing verification and security delays for large withdrawals to unknown addresses and smart contract authorization transactions, as well as implementing key security restrictions at the cryptographic signature layer. At the same time, the industry should establish real-time security incident reporting, joint monitoring of suspicious funds, and rapid response mechanisms, and promote collaborative research in areas such as post-quantum cryptography and AI security threat defense. He emphasized that no single company can safeguard the future of the cryptocurrency industry alone.

The founder and CEO of the cryptocurrency trading platform Bybit, Ben Zhou, stated that there are reports circulating on social media about security incidents occurring on multiple platforms. Bybit has not been affected, the system is operating normally, trading and withdrawal functions are still available, and user assets are in a secure state.Ben Zhou also expressed a willingness to provide various forms of support to the Binance platform.

U.S. President Trump stated that the Federal Reserve is unwilling to cut interest rates.