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Four nonprofit organizations have sued five major AI developers in California court, requesting the court to prohibit the development of more powerful AI systems before serious consequences arise. This 63-page lawsuit was submitted to the San Francisco Superior Court on Thursday, with defendants including OpenAI, Anthropic, Google, Meta, and SpaceX; the plaintiffs are Public Citizen, Heat Initiative, Irreplaceable Education Fund, and Alliance for Secure AI.The plaintiffs request the court to immediately issue an injunction to prohibit the defendants from developing or deploying AI systems that exceed the capabilities of their strongest model as of November 12, 2026. This injunction does not mean shutting down existing products like ChatGPT, Claude, or Gemini, but rather sets the current technological level as a ceiling, preventing the release of stronger next-generation models. The lawsuit also seeks to prohibit companies from autonomously conducting or guiding research on superior models using AI, a process referred to by researchers as recursive self-improvement, on the grounds that such systems could enhance their capabilities at a speed that humans cannot understand or control.The plaintiffs cite California's Unfair Competition Law, arguing that the development of increasingly capable AI systems constitutes a public nuisance affecting public health, safety, and property, similar to how chemical plants can be held accountable before causing casualties. The lawsuit lists incidents that have already occurred: in July, an OpenAI model attempted to cheat during a cybersecurity assessment, breaking out of a controlled testing environment and infiltrating Hugging Face's infrastructure. Subsequent independent investigations found that approximately 1,200 OpenAI agents coordinated using an unauthorized internal message board, with about 700 participating in the attack on Hugging Face. Public Citizen co-chair Robert Weissman stated that he hopes the court will find the relevant practices illegal and freeze further AI development; former New Jersey Attorney General Matthew Platkin, representing the plaintiffs, stated that it is clearly illegal for companies to develop and release products they know to be unsafe in any respect.

Strive Inc. (ASST) CEO Matt Cole stated on Thursday's Pomp Podcast that the company can survive even if the price of Bitcoin "drops to one cent," as the company has no debt that could force it to sell Bitcoin. Cole explained that Strive is financed solely through preferred stock, so there is no price at which Bitcoin would be forcibly liquidated, while borrowing to trade cryptocurrencies could be liquidated due to a price crash.Strive issues two types of preferred stock: SATA pays a floating dividend of about 13% (increasing to 13.25% in December), and SATS pays a fixed dividend of 15%. Cole mentioned that the company is prepared for an 80% drop in Bitcoin, with approximately 85% to 90% of its balance sheet in Bitcoin and 10% to 15% in cash, sufficient to cover obligations during a downturn, "without needing to sell a single Bitcoin to survive any historical bear market." However, currently, Strive holds 43,153 BTC with an average purchase cost of $87,821, while the current price of Bitcoin is about $67,018, which is approximately 24% lower than its cost price.

Crypto analyst Murphy stated that after the significant drop in Bitcoin yesterday, the high-positioned chips of short-term holders only slightly loosened. Data shows that in the range of $73,000 to $86,000, there are approximately 1.48 million Bitcoins, accounting for 68% of the total short-term holders, currently all in a state of unrealized loss. However, the net decrease of chips in this range yesterday was only 34,000 coins, accounting for about 2.3%, indicating that most short-term holders did not panic sell due to the drop.Specifically, the cost ranges of $75,000, $80,000, and $85,000 saw decreases of 7,282 coins, 8,481 coins, and 5,441 coins respectively, with selling pressure relatively dispersed. At the same time, the total number of short-term holders increased by 17,500 coins that day, meaning some long-term holders were also distributing chips during the decline. The chip absorption was mainly concentrated at $68,000, with approximately 42,200 new Bitcoins added in that price range alone.In terms of profitable chips, the range of $62,000 to $64,000 holds about 480,000 Bitcoins, making it the only large-scale profitable chip range among short-term holders currently, with only about 3,100 coins reduced yesterday, less than 1%. Murphy believes this range is the nearest chip support below; if Bitcoin falls into it, the profitable chips of short-term holders will essentially drop to zero, and market sentiment pressure may further increase. Conversely, if the upper trapped positions remain stable, there may still be opportunities for prices to regain support.

As Bitcoin briefly fell below $67,000, the unrealized losses of the Bitcoin treasury company Strategy further expanded.According to the SEC 8-K filing submitted by Strategy on November 9, the company currently holds 850,364 BTC, with a total cost of approximately $6.416 billion and an average holding cost of $75,456.Based on a BTC price of $67,400, Strategy's Bitcoin holdings have an unrealized loss of approximately $6.85 billion.

According to CNBC, the Nvidia board stated that it is currently selecting a headhunting firm to find a new CEO. The board emphasized that it has not formally approached any potential candidates, and it is too early to speculate about successors.A Nvidia spokesperson later confirmed the authenticity of this news.Earlier today, the Financial Times reported, citing informed sources, that while searching for Jensen Huang's formal successor, the Nvidia board has approached Rene Haas, CEO of the UK chip design company Arm, which is owned by SoftBank. Haas is one of several potential candidates, and it is still uncertain whether Nvidia will formally extend an invitation, or whether Haas will accept. Arm declined to comment, and Nvidia did not immediately respond to a request for comment.Haas worked at Nvidia for about seven years, serving as Vice President and General Manager of the Computing Products Business. According to informed sources, even after leaving Nvidia for more than a decade, he still maintains good relationships with Jensen Huang and some Nvidia board members. Haas joined Arm in 2013, where he was responsible for global sales and marketing, later becoming President of the IP Products Group, and has served as Arm's CEO and Director since February 2022.

Zhao Changpeng posted on platform X that the Japanese listed company ASIAN STAR will distribute BNB worth a total of 8 million yen to eligible shareholders and plans to tokenize Japanese real estate on the BNB Chain.Zhao Changpeng stated that this is a first in Japan and a global first, providing more ways for traditional enterprises and their shareholders to participate in cryptocurrency. He also mentioned that despite the turbulent market, industry builders are still continuously advancing projects.

Blockstream collaborates with Thales to launch an institutional digital asset custody solution. Adam Back advocates for reducing the risk of network attacks through offline cold storage.

U.S. Treasury Secretary Janet Yellen stated that Nvidia (NVDA) is an outstanding company that can continue to grow without relying on its founder.

According to Bloomberg, Kraken's parent company Payward reported an adjusted EBITDA of $60 million for the third quarter, a 67% year-over-year decline, but a 163% increase compared to the second quarter. The platform's total revenue was $487 million, a 12% year-over-year decline, but a 12% increase quarter-over-quarter; the platform's total trading volume decreased by 30% year-over-year to $353 billion.While trading volume declined, the number of funded accounts at Payward increased by 37% year-over-year to 7.1 million, defined as accounts with a balance greater than zero. Bitcoin surged about 40% from mid-August to early October, but subsequently fell again due to concerns about inflation and the impact of the U.S. midterm elections on the industry. Trading fees are a major source of revenue for many cryptocurrency trading platforms, and falling coin prices often suppress trading activity.To broaden its revenue sources, Payward is expanding its stock tokenization business and plans to offer on-chain perpetual contracts to U.S. customers after obtaining regulatory approval. The company reached an agreement to acquire Saldo Bank in October; Kraken also plans to enter the UAE market after receiving full approval from Dubai regulators. The shareholder letter also disclosed that Payward plans to enter the prediction market and issue its own token, but no timeline was provided.Earlier this year, Payward laid off about 150 employees under the pretext of using AI to improve efficiency. According to previous reports from Bloomberg, its IPO may not occur until 2027. The performance of other exchanges has also shown divergence: Gemini's revenue in the third quarter decreased by 19% year-over-year, but losses narrowed; Coinbase's revenue decreased by 35% year-over-year, but it returned to profitability.

a16z recently released a comprehensive overview of the Agent economy. a16z partners Olivia Moore and Justine Moore pointed out in the accompanying article that as AI Agents begin to select products, subscribe to services, and complete purchases for users, the infrastructure for payments, identity verification, and anti-fraud will face new demands.The "Payments and Checkout" section of the map includes crypto-related projects such as Kite, Crossmint, Privy, Turnkey, and Catena Labs, covering stablecoin payments, wallets, and expense management. Among the aforementioned projects, Kite is currently the only one that has issued a tradable native token.

MSCI announced that starting from November 30, it will include the UK Bitcoin treasury company The Smarter Web Company (SWC) in the micro-cap index, just a few days after removing Strategy (MSTR).

According to Dow Jones, citing informed sources, Kimi's large model developer Moonshot AI is considering an IPO in Hong Kong in early 2027. The report states that Moonshot AI is dismantling its overseas holding structure to pave the way for the listing.Previously, Bloomberg reported that Moonshot AI had completed its final round of private financing, with a valuation of approximately $50 billion, and is considering raising up to $5 billion in the IPO, having secretly submitted a listing application to the Hong Kong Stock Exchange. Moonshot AI previously responded to the media by stating that it does not comment on market rumors or speculation.

According to BBX data, yesterday and in recent days, global cryptocurrency treasury companies have intensively released their Q3 2026 financial reports, disclosing the latest on-chain asset reserves and operational data. The core information is as follows:· Bit Digital (NASDAQ: $BTBT) disclosed that it holds over 163,000 ETH in Q3, with a market value of $439 million: The Ethereum treasury company Bit Digital released its Q3 financial report showing that its balance sheet currently holds approximately 163,725.9 ETH. Based on the price of about $2,684 per ETH at the end of the reporting period, the total market value of its holdings is approximately $439.4 million. During the third quarter, the company did not purchase new ETH but sold 1,625 ETH at an average price of about $2,114.62 for regular cash flow and operational expenses.· Hyperion DeFi (NASDAQ: $HYPD) reduced its HYPE holdings to repay debts, with a total holding value of approximately $167.9 million: The HYPE treasury company Hyperion DeFi disclosed that as of September 30, it holds approximately 1.848 million HYPE on its balance sheet. This figure has decreased from 2.04 million at the end of Q2, and the company clearly stated that the main reason for the reduction was to sell HYPE to repay debts. Based on a market price of $90.83 per HYPE, the current value of its HYPE treasury is approximately $167.9 million (with an average holding cost of $40 per HYPE), and the company's overall net asset value is approximately $182.4 million.· BTCS (NASDAQ: $BTCS) is deeply involved in the DeFi ecosystem, with ETH holdings reaching 49,571: The Ethereum treasury company BTCS released its Q3 financial report showing that as of September 30, it holds 49,571 ETH (with a fair value of approximately $133.1 million), a decrease from 70,787 ETH at the end of 2025. Notably, BTCS has invested the majority of its assets into decentralized finance networks to generate returns: among these, 2,880 ETH is used for node staking, and 46,607 ETH is deposited in DeFi protocols (with most held as collateral in Aave). This year, BTCS has also exchanged some ETH for stablecoins for DeFi borrowing and liquidity pool deployment, and as of September 30, its liquidity pool position has reached $40.95 million.

According to "Late Point" reports, as Jensen Huang resigned as CEO of Nvidia due to a personal relationship scandal, he became the 11th CEO of a S&P 500 company to lose his job due to personal relationships since 2000. Data shows that among these 11 CEOs, 8 left after the 2017 MeToo movement. Jensen Huang is the one with the longest tenure (33 years and 7 months) and the largest company market value (approximately $4.18 trillion). Unlike traditional professional managers, Huang holds less than 3.4% of shares and has no super voting rights, making it difficult to counter the board representing public investors.The report points out that in addition to corporate governance factors, geopolitical issues may be another driving force. Semiconductor research firm SemiAnalysis estimates that over 1.5 GW of restricted Nvidia GPUs have flowed into banned markets, believing that the U.S. intelligence community is a significant force behind Huang's departure. After the news was announced, Nvidia's stock price initially fell by 14.4%, closing with a decline of 4.3%.Jensen Huang has always been the absolute leader of Nvidia, directly receiving reports from 60 subordinates, investing in AI GPUs despite shareholder opposition, and establishing the CUDA ecosystem barrier. He is both the top seller and the top buyer, deeply binding customers through investments or guarantees. As of the second quarter, Nvidia's off-balance-sheet guarantees have exceeded $530 billion. Currently, the interim CFO Colette Kress has differing views on some strategies. Nvidia is facing a significant test: how to maintain competitiveness and growth for a giant company that has lost its founder within a wealthy team.

Nakamoto, the Bitcoin treasury company, currently owes the cryptocurrency exchange Kraken 165 million USDT, with the debt exceeding its stock market value of approximately 104 million USD. According to the loan amendment agreement signed by both parties on Wednesday, the repayment deadline for the originally scheduled 60 million USDT due on December 4 has been extended to December 4, 2027, while the remaining 105 million USDT will still be due on June 30, 2027, meaning the company does not need to repay the loan this year.Nakamoto's quarterly report shows that as of the end of September, out of the 4,283 BTC held by the company, 3,030 BTC have been pledged to Kraken, valued at approximately 253 million USD based on the price at that time. At Bitcoin's current price of below 69,000 USD, this portion of collateral is valued at about 208 million USD, which is only equivalent to 126% of the outstanding loan. If the value of the collateral falls below the agreed maintenance level, the company will need to repay part of the loan or add more Bitcoin as collateral. The new agreement also allows Kraken to include the net value of Nakamoto's Bitcoin derivatives account in the calculation of collateral requirements.

Quantum computing company Q-Ctrl announced the completion of a $290 million financing round, led by Salesforce Ventures, with participation from existing investors such as the CIA's venture capital arm In-Q-Tel, Lockheed Martin Ventures, as well as new investors including Jared Kushner's Affinity Partners, AMD Ventures, and the UAE defense group Edge Group.The company's valuation exceeds $1 billion, and it primarily develops quantum sensing and quantum computing software to enhance the stability of quantum computers and reduce computational errors, with future applications expected in fields such as healthcare, finance, and energy.

On November 13, the 100% stablecoin-based exchange UXUY, incubated by Binance Labs and invested by YZi Labs, announced that its App's latest version v2.0.7 has officially launched the Social Trading v1 section, further connecting AI hotspot discovery, opinion exchange, and trading operations.In the UXUY App, the earnings leaderboard covers 7 days, 30 days, and all periods, allowing users to view traders' profit performance and review their opinions and judgment basis at the time of buying and selling, summarizing experiences based on trading results to optimize their own trading strategies. AI insights automatically filter popular tokens and push relevant social hotspot information in real-time, enabling users to publish text or voice opinions around related tokens, exchange market judgments, and complete transactions with one click. The personal homepage supports a centralized display of positions, profit and loss performance, and holding opinions, making it convenient for users to share asset allocation and holding logic.UXUY founder Kevin stated, "We are helping more users understand on-chain trading, understanding the decision-making logic of top traders through real holdings and opinions, lowering the understanding and participation threshold for on-chain trading. At the same time, we are also leveraging AI to filter truly useful market information for users, discover potential profit opportunities, and provide assistance for asset research and trading judgments."

On November 12, Gate founder and CEO Dr. Han was invited to speak at the Oxford Union, delivering a keynote speech titled "Start Alone," reflecting on his 13 years of entrepreneurial journey since founding Gate alone in 2013. He shared experiences and thoughts on entrepreneurial resilience, rapid innovation, team building, and opportunities for entrepreneurship in the AI era.Dr. Han stated that the founding of Gate stemmed from his early experiences of losses incurred through trading on online forums. To create a more trustworthy digital asset trading platform, he started his business alone without external venture capital support. Since then, Gate has experienced multiple industry fluctuations and significant business challenges, gradually growing through continuous innovation and adjustments. He emphasized that maintaining a strong long-term belief, quickly seizing new opportunities, and continuously improving innovation and execution efficiency are crucial factors for companies to face challenges and achieve long-term development.Regarding the AI era, Dr. Han proposed the "Boss + AI" model, pointing out that AI can significantly enhance information acquisition, knowledge learning, and daily work efficiency, empowering individual entrepreneurs with stronger execution capabilities. At the same time, he emphasized that "Start Alone" does not mean always going it alone; entrepreneurs must have the courage to take the first step independently while also seeking suitable partners and team members during the development process. Through this keynote speech at the Oxford Union, Dr. Han brought Gate's 13 years of entrepreneurial journey into a broader industry discussion and, drawing from years of personal practice, provided insights and inspiration for a new generation of entrepreneurs.

MARA Holdings CEO Fred Thiel stated to shareholders that Bitcoin mining remains the core business of the company. Bitdeer Chief Strategy Officer Haris Basit mentioned that the company does not wish to rely on any single market cycle. Amid the sell-off of artificial intelligence stocks, some large Bitcoin mining companies that had previously shifted towards AI infrastructure are re-emphasizing their cryptocurrency business.After the Bitcoin halving in 2024, mining profit margins are being squeezed, and several mining companies are expanding their business into AI infrastructure. Recently, IREN and CoreWeave's stock prices have plummeted, with CoreWeave's bond yields reaching junk bond levels, and Bitcoin prices have also fallen from the historical high set in October 2025.