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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 crypto journalist Eleanor Terrett, in this round of the U.S. midterm elections, the AI industry has become an important political funding spender, with related political action committee (PAC) expenditures of about $72 million, still lower than the crypto industry's three major PACs, which spent about $170 million.Both industries had some political investments that did not achieve the expected results, with AI-supported Darline Graham, Mike Rogers, and Carlos For Texas all losing in the elections.

Binance co-founder He Yi commented on "Binance facing a second battlefield of public opinion after the security incident," stating, "When the storm comes, they believe that cutting down the biggest tree will make them the winner. Fanning the flames will only drive everyone away and reduce confidence in the industry, not just in Binance."Earlier, Binance founder CZ shared a lengthy article and referred to it as "another attack on Binance." According to the article, from October 30 at 05:00 to November 2 at 20:00, within approximately 78 hours, 1,083 accounts published 11,700 hostile posts regarding the theft of Binance's hot wallet, with about 20.93 million exposures, of which 79.6% were replies, and 3,354 posts were deemed false information, categorized into 15 types of rumors.The article suggests that alongside the real security incident, there was a rhythmic and organized narrative operation on X, with themes shifting according to Binance's response points, including internal sabotage, insolvency, a second FTX, reluctance to open withdrawals, a bank run upon opening, and exaggerating net outflows, among others.

Yushu Technology founder Wang Xingxing stated at the 2026 World Internet Conference Wuzhen Summit Internet Entrepreneur Forum that next year (2027) is likely to be a critical point for the robotics industry or robotic models.Wang Xingxing pointed out that embodied intelligence is very close to the "ChatGPT moment," but the alignment issue of the "last few millimeters" in the physical world still needs 1 to 3 years to break through. If this subtle operational alignment challenge is resolved, next year is expected to witness an explosive deployment of generalized embodied intelligence.

OKX founder Star Xu stated that he does not wish to criticize competitors during their crises, but rather hopes for collaboration to improve safety standards and protect the cryptocurrency industry. However, he expressed discomfort with a recent interview given by a person who claims to no longer manage Binance, referring to himself as the "richest person in the crypto world." He believes the interview is filled with misleading statements, downplays the responsibilities he should bear, and attempts to find excuses for failure by belittling the security of traditional banks.Star Xu noted that after the crisis occurred, this individual was one of the most active voices on social media among Binance-related personnel and had even debated Elon Musk over SpaceX stock investments. He pointed out that the individual repeatedly emphasized "only 2% of funds flowed out of Binance" and continued marketing activities to attract users to deposit funds during the ongoing crisis. Star Xu believes that responsibility should be demonstrated during a crisis, while this interview gives the impression of shirking responsibility and shifting focus.Star Xu cited reports that the price of Bitcoin dropped from about $81,000 to $75,000, with billions of dollars in leveraged positions being liquidated, potentially impacting the credibility of the cryptocurrency industry once again. He stated that what the industry needs is collaboration, accountability, and the protection of user assets along with the establishment of safety standards, rather than more excuses, public relations rhetoric, and marketing packaging.

According to CoinDesk, preliminary vote counting for the U.S. House of Representatives elections shows that several candidates supported by the cryptocurrency industry are temporarily leading, including Josh Gottheimer and Rob Menendez from New Jersey, as well as Lucy McBath (Democrat), Brian Jack (Republican), Amanda Hollowell (Democrat), Austin Scott (Republican), Jasmine Clark (Democrat), and Clay Fuller (Republican) from Georgia.Houston Gaines (Republican) is slightly trailing behind Pamela DeLancy (Democrat) with about 35% of the votes counted. Kevin Wysocki, the policy head of Anchorage Digital, stated that Kentucky's 6th Congressional District is worth watching; if the Democrats win that seat, it may indicate that the Republicans are facing a more challenging electoral situation. As of 8:20 PM Eastern Time, less than 24% of the votes in that district have been counted, with Ralph Alvarado (Republican) currently leading Zach Dembo (Democrat).

Binance founder Zhao Changpeng responded for the first time to the incident of approximately $6.3 billion being stolen from Binance during an interview with Talking Tokens, stating that all hacking attacks are preventable and that a long period without security incidents can lead to complacency in enterprises.He pointed out that the frequency of hacking attacks on cryptocurrency exchanges has risen from about once a month to almost once a week, with AI accelerating the development of attack capabilities, while the industry's defensive capabilities have not kept pace. He called for the cryptocurrency industry to form a security alliance to share best security practices, conduct cross-audits, and achieve rapid coordination in freezing stolen funds, expressing hope to promote the establishment of this alliance.Regarding government cooperation, Zhao Changpeng stated that there has been no communication with Trump or Washington regarding this incident, but he hopes to receive assistance from the U.S. government. He also mentioned that when it comes to communication with North Korea, perhaps only the U.S. and China have the necessary conditions. Speaking about market reactions,Zhao Changpeng noted that on the day Binance was attacked, the decline in the cryptocurrency market was less than that of tech stocks, a situation that is almost unheard of. He believes this is due to Binance's prompt confirmation of user fund security and its ability to provide full compensation.He also revealed that less than 10% of the stolen funds flowed to other centralized exchanges; recently, some hardware wallets have also been attacked, and some users have returned their funds to Binance after comparing the security situations of different platforms. Binance switched from net outflow to net inflow within less than 24 hours based on hourly statistics.Regarding the future of the industry, Zhao Changpeng believes that AI will enhance the security of the cryptocurrency industry and software systems in the medium to long term, and may even detect vulnerabilities in blockchain software before quantum computing can crack the existing encryption systems. At the same time, AI will drive trading speeds far beyond current levels, and blockchain may become the only financial technology capable of supporting such trading speeds. He also reminded retail investors to strengthen the use of asset protection tools and to continuously pay attention to industry security dynamics.

Binance founder Changpeng Zhao stated in an interview, "If we cannot control such security attack incidents, and similar events continue to occur without significant improvement in security protection, then the speed of market adoption will slow down, which will affect the overall popularization process of the cryptocurrency industry.However, overall, I believe that any new technology in its early development stage needs to go through a period of adaptation, which is often accompanied by considerable growing pains. But in the long run, I believe that positive factors will ultimately prevail, and technology will continue to advance over time. I do not know when the industry will hit bottom or when it will reach a turning point. I think we may encounter more problems before the overall situation begins to improve. I hope that day comes soon.We hope the U.S. government can provide assistance in this regard. I believe that whether it is myself personally, Binance as a company, or the entire cryptocurrency industry, we are all very eager to receive support from the U.S. government. If anyone can communicate with North Korea, it is likely to be the U.S. government."

The spokesperson for the Chinese Ministry of Foreign Affairs, Mao Ning, hosted a regular press conference. A reporter asked, according to the Financial Times, Nvidia requires some data center partners to provide at least 51% of their services to non-Chinese companies, which may restrict Chinese companies from accessing key artificial intelligence technologies. What is China's response to this?In response, Mao Ning stated that she is not familiar with the specific situation. We have always believed that all parties should cooperate based on the principles of fairness, transparency, and non-discrimination.

Global stablecoin payment infrastructure service provider WasabiCard announced the formal signing of a strategic cooperation agreement with Japan Innovation Group (SOUSHIN Ltd). Both parties will integrate WasabiCard's technological advantages in global payment infrastructure, cross-border settlement, and stablecoin payments, along with Japan Innovation Group's resources in the local retail and trading ecosystem, to jointly promote the digital transformation of traditional retail enterprises in Japan and explore the application of stablecoin payments in physical business scenarios.As of now, WasabiCard has served over 700 corporate clients, with a cumulative card issuance exceeding 700,000 cards and a transaction volume exceeding 1 billion USD. The company's business covers more than 200 countries and regions worldwide and supports over 70 card BINs. This cooperation marks WasabiCard's further deepening of its market layout in Japan and accelerates the integration of stablecoin payments with the traditional retail business ecosystem.

The spokesperson for the Chinese Ministry of Foreign Affairs, Mao Ning, hosted a regular press conference. A reporter from Yonhap News asked about the FBI's statement on October 31, which indicated that North Korea was behind the cyber attack on the cryptocurrency exchange Binance, with stolen assets amounting to approximately $6.3 billion.The reporter also mentioned that Trump stated he would discuss this issue with North Korea if the situation is true, and inquired about China's perspective on this incident and Trump's related remarks. Mao Ning responded that she was not aware of the situation.

According to a report by the Korean News Agency, South Korea's Minister of Trade, Industry and Energy, Kim Jong-hwan, stated on November 2 at a public forum of the National Economic Advisory Council held in Seoul that the country will link three major projects: semiconductors, AI data centers, and physical AI, to create a national growth platform. The total investment plan for these three major projects is approximately 160 trillion Korean won, which is about 60% of the annual GDP of South Korea at the project's launch year.The government will promote the semiconductor factory's production timeline by at least two years through measures such as one-stop processing for licensing approvals and the formulation of the "Super Wide Area Special Zone Act." Kim Jong-hwan also proposed the M·E·G·A four major promotion strategies, which are to consolidate national power, encourage participation from all economic entities, create new growth momentum, and expand the effects of the results.

The Supreme People's Procuratorate released typical cases of legally protecting citizens' personal information, two of which are related to the cryptocurrency industry. In Case One, Wang and 11 others established a chain of "finding downstream buyers domestically --- obtaining personal information from abroad --- reselling at a markup domestically," paying for purchases to foreign upstream sources with virtual currency, and reselling information such as citizens' household registration, property status, and tracking trajectories, with an amount involved exceeding 1.98 million yuan. The court sentenced each defendant to imprisonment ranging from three years and six months to eight months, and imposed fines.In Case Seven, Lin and 21 others illegally obtained over 870,000 pieces of personal information of job applicants under the guise of recruitment, through online recruitment platforms and by bribing corporate human resources personnel, selling it to foreign entities for profit. The illegal gains were settled in virtual currency and then exchanged for RMB, with an amount involved exceeding 7.46 million yuan. The court sentenced each defendant to imprisonment ranging from five years and three months to six months, and ordered them to bear civil liabilities such as public welfare damage compensation.

According to a report by Agence France-Presse, the Ministry of Justice of Madagascar, an East African country, stated that 148 Chinese citizens involved in online romance, cryptocurrency, and fraudulent investment scams in the country have been extradited back to China.Earlier reports indicated that Madagascar conducted a series of raids from August to September this year, successfully dismantling 13 telecom fraud parks operated by Chinese citizens. During a single day of operations, cryptocurrencies worth up to 52 million USD (approximately 346 million RMB) were seized, along with over 3,200 electronic devices.

According to CoinDesk, as the U.S. midterm elections on November 3 approach, the three major political action committees (PACs) in the cryptocurrency industry have collectively invested about $170 million to support congressional candidates, with the overall funding flow clearly favoring the Republican Party, despite recent polls and prediction markets indicating that the Democratic Party is more likely to expand its influence in Congress.Among them, Fairshake, supported by Coinbase, a16z, and Ripple Labs, has invested about $154 million and retained approximately $56 million for the next round of elections. The Digital Freedom Fund, backed by the Winklevoss brothers, has invested over $8 million this month, focusing on preventing Democratic candidates in Ohio, Texas, and Iowa from winning Senate seats. The Fellowship Fund, closely related to Cantor Fitzgerald and Tether, primarily supports Republican candidates while providing a total of $600,000 to three incumbent Democratic lawmakers.Reports indicate that Fairshake has invested nearly $56 million to prevent former Democratic Senator Sherrod Brown from returning to the Senate and has invested nearly $11 million to support Nebraska Republican Senator Pete Ricketts.Currently, the prediction market Kalshi gives the Democratic Party about a 70% chance of controlling both the House and Senate simultaneously. Even if the Republican candidates supported by the cryptocurrency industry win, significant legislation regarding the future structure of the cryptocurrency market and taxation will still need to seek Democratic support to overcome the procedural threshold of 60 votes typically required in the Senate.

According to CoinDesk, the U.S. cryptocurrency industry is investing about $63 million in an attempt to prevent former Senator Sherrod Brown from returning to Congress in the Ohio elections. Among them, the cryptocurrency industry's super political action committee Fairshake has invested nearly $56 million, while the political action committee under the Winklevoss brothers has invested about $7.2 million. Including the election spending for 2024, the political contributions from the cryptocurrency industry targeting Brown have exceeded $100 million in the past two years.The latest polls show that Brown has a slight lead over incumbent Senator Jon Husted, but the margin in most polls is still within the margin of error. The prediction market Kalshi gives Brown a 68% chance of winning, while also predicting a 68% chance for the Democrats to regain control of the Senate.Brown previously served as the chairman of the Senate Banking Committee and did not promote legislation for the cryptocurrency industry during his tenure. Reports indicate that if the Democrats regain control of the Senate, Elizabeth Warren may become the chairman of the Banking Committee, and Brown could also obtain an important committee position, which would influence the advancement of cryptocurrency market structure bills such as the CLARITY Act.

According to a report by 2424.mg, 49 Chinese citizens convicted of cryptocurrency network fraud in Madagascar were transferred to China to continue serving their sentences on October 26, including 40 men and 9 women. Since September, Madagascar has transferred a total of 148 individuals.Previously, Madagascar conducted a series of raids from August to September this year, successfully dismantling 13 fraud operations run by Chinese citizens. In a single day of action, approximately 52 million dollars worth of cryptocurrency was seized, along with over 3,200 electronic devices, and nearly 400 individuals involved in the case were arrested.

According to a report by CNBC, data from Public Citizen shows that crypto-related organizations have donated over $200 million in this round of the U.S. election cycle, attempting to influence the 2026 midterm elections and push Congress to pass regulations favorable to the industry. One of the current priority goals for the industry is to promote comprehensive digital asset market structure legislation after the Clarity Act was stalled.Fairshake and its affiliated super PAC are supporting 33 House candidates, including 19 Republicans and 14 Democrats. Coinbase and Ripple each donated $25 million to Fairshake's midterm election efforts in 2025. The Ohio Senate election is a key battleground.Fairshake stated that this election cycle has spent $55 million opposing long-time critic of the crypto industry, Democratic candidate Sherrod Brown, whose opponent is pro-crypto Republican incumbent Senator Jon Husted.The advocacy organization Stand With Crypto, initiated by Coinbase, has endorsed 45 candidates, including 42 House candidates and 3 Senate candidates. The Clarity Act was stalled in the Senate in September, with Democratic lawmakers arguing that it is insufficient to prevent government officials from profiting from crypto businesses.Reports indicate that if the bill cannot advance by the end of the year, the new Congress will need to restart market structure legislation. Coinbase Vice Chairman Ryan VanGrack stated that regardless of who is elected, the industry will still gain more regulatory clarity, but there remains uncertainty about whether legislation can ultimately be completed.

According to The Defiant, the real-time data dashboard of the blockchain security auditing firm CertiK shows that the cumulative losses in the cryptocurrency industry reached a record $9.2 billion in 2026.Data indicates that in October, $3.03 billion in assets were frozen or recovered, bringing the adjusted losses for the month down to $3.47 billion.