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According to exclusive reports from Big Factory Daily, Trip.com held an all-hands meeting last week to announce the promotion of the "Integration of Production and Research" system across the company. This system is centered around DRI (Directly Responsible Individual) and merges personnel from product, operations, front-end, back-end, algorithms, testing, and other areas into project-based teams, breaking down traditional functional team boundaries with the goal of achieving "everyone is a full-stack developer, everyone is a product manager."In terms of specific execution, DRI leaders are not limited by function and can be original product, operations, or technical leaders. Team members within the project group collaborate across functions, which may lead to situations where products evaluate technical performance, and technology reports to operations. Front-end and back-end teams can also propose requirements and implement them independently. Ideas from product and operations that can be realized by AI can also be delivered independently, ultimately decided by the DRI.Currently, departments such as Trip.com Travel, Flights, and Content Center have begun to respond, with different teams progressing at varying paces, and the company has not imposed a one-size-fits-all requirement. The report indicates that this move is partly influenced by Silicon Valley concepts and aligns with the trend of blurred job boundaries in the AI era. This model can effectively reduce buck-passing and disputes, shorten delivery chains, and accelerate decision-making, but the challenge lies in the high comprehensive ability requirements for DRI leaders, who need to possess both technical understanding and business insight, and such qualified leaders are currently relatively scarce.

The Canadian government has announced a budget bill that will prohibit federally regulated financial institutions from directly issuing cryptocurrencies and require stablecoins to be issued only through independent non-financial subsidiaries regulated by stablecoin laws.According to the budget bill announced on November 5 local time, the issued cryptocurrencies must include reserve safeguards such as redeemability at face value and asset segregation, while not being included in public deposit insurance and government guarantee programs. The Bank of Canada will be responsible for the registration of issuers and the supervision and enforcement of regulatory compliance. Meanwhile, the regulatory framework for stablecoins is expected to take effect next fall.

a16z Chief Legal Counsel Miles Jennings posted on X that the U.S. Securities and Exchange Commission (SEC) has released new FAQs that further clarify its token classification framework. He pointed out that Question 1.4 clearly states that systems can maintain decentralized governance and use legal entities such as DUNA; Question 1.5 distinguishes between licensed and unlicensed systems; and Question 1.6 clarifies the difference between "functional" and "decentralized."The SEC's Division of Corporation Finance updated the relevant Q&A on November 2. The response to Question 1.4 states that participants in a widely governed functional crypto system, if not interconnected and without formal or informal collaborative arrangements other than participating in that governance system, typically do not constitute a group of persons or entities defined as "centralized parties"; even if they do form such a group, they must still possess operational, economic, or voting control to meet the definition of "centralized parties." This conclusion also applies to cases where the governance system belongs to an organization, association, or foundation, and participation is based on holding native crypto assets.The response to Question 1.5 states that centralized party oversight of participants refers to the authority to control access to the system at the protocol, validator, or user level, such as unilaterally granting or restricting access, deciding on upgrade voting procedures, controlling who can participate in consensus, or modifying rule code, revoking transactions, and access. The response to Question 1.6 states that "functional" refers to native crypto assets being usable according to the system's programmed purposes, while "decentralized" refers to the system operating autonomously without any person, entity, or group having operational, economic, or voting control; the two are distinct concepts. The above responses represent the views of the staff of the Division of Corporation Finance and do not constitute SEC rules or statements.

According to a report by Crypto in America, the cryptocurrency industry organization the Chamber of Digital Commerce (CCI) and members such as Bitwise, Galaxy Digital, and Morpho submitted a 238-page report to the U.S. Securities and Exchange Commission (SEC), urging the regulatory agency to clarify how existing securities laws apply to on-chain vaults and to develop a differentiated regulatory framework based on the level of control that human operators have over user assets and investment decisions.

According to a report by the Southern Daily cited by the Financial Associated Press, several universities recently issued notices stating that the salaries of on-duty and officially employed personnel will be distributed through digital RMB wallets. The Finance Office of Yangzhou University announced on October 20 that, according to a pre-notice from the Provincial Department of Finance, starting from November 2026, the salaries of on-duty and officially employed personnel (including personnel on agency contracts) will be distributed through digital RMB wallets. Relevant personnel must complete the opening and upgrading of their digital wallets based on their current salary card situation by October 23.The Finance Office of Nantong University issued a notice stating that, according to the Provincial Department of Finance, starting from November 2026, the salaries of all officially employed personnel and personnel on agency contracts will be distributed through digital wallets. Relevant personnel must complete the opening and upgrading of their digital wallets by October 30. Salaries and performance will be distributed on two separate cards, both of which need to be opened. The Finance Office of Jiangsu Normal University also issued a notice stating that to implement the national deployment of the digital RMB pilot program and according to the unified deployment of higher authorities, the university will steadily promote the distribution of salaries in digital RMB for on-duty personnel.

The stock trading platform Aries announced the completion of a $7 million seed round financing, led by Thomas Peterffy, with participation from Kleiner Perkins, Collision, John Paulson, and 638 users.Aries stated that the company is building a stock trading platform and has launched Aries Infinite. According to its introduction, Aries Infinite is an infinitely scalable trading canvas where users can build components one by one or generate trading interfaces by asking AI questions.

The American Blockchain Association stated that it has submitted comments on the proposed implementation rules for Section 3 of the GENIUS Act by the U.S. Department of the Treasury. The association recommends clarifying the scope of "digital asset service providers" to exclude self-custody software, validators, and businesses that only trade their own assets; regarding criminal liability for participating in the illegal issuance of stablecoins, it should be based on actual knowledge and substantial assistance coordinated with the issuer.The association also suggested that trading platforms could determine the compliance of foreign stablecoins based on the official issuer list and trading bans, and adjust the criteria for determining user locations in unlicensed agreements.

ChainCatcher live report, at the Token2049 conference in Singapore, World Liberty Financial co-founder Eric Trump stated that the era of paying salaries with stablecoins has arrived. He revealed that his family business, as a "super employer," has tens of thousands of employees in global hotel assets and is "undoubtedly researching" salary payments in stablecoins. He pointed out that it has become common for athletes to request payment in Bitcoin for contracts, and the appreciation of underlying assets often far exceeds the contract amount; for ordinary employees, check clearing takes 24-36 hours, while people want money "immediately in their accounts."

ChainCatcher live report, at the OKX NOW Global Products and Ecosystem Conference (Singapore), Star stated that large global financial institutions from sectors such as exchanges, banks, stablecoins, payments, and quantitative finance are making equity investments in OKX, including ICE, the New York Stock Exchange, Standard Chartered Bank, Ripple, Circle, and others.He believes that the significance of this matter goes far beyond the funds themselves, "The future will not be a confrontation between crypto finance and traditional finance; every crypto company will expand into traditional finance, and every traditional finance company will invest in the crypto space. These two worlds are becoming one financial system."

According to Cointelegraph, the Russian Ministry of Finance stated on Friday that some employees have received their salaries for the first time in digital rubles. The payment of salaries in central bank digital currency is voluntary for Russian citizens and has been implemented since October 1 (Thursday). The ministry did not disclose the number of participants or the total amount of salary payments, nor did it specify the specific departments involved.According to the ministry's press release, approximately 16 million digital rubles (about $192,200) were disbursed in a pilot project for federal budget expenditures in 2025, and the Ministry of Finance has thus applied the verified channels to its own salary payment process. The integration of digital rubles into the budget process is being jointly promoted by the Central Bank of Russia and the Ministry of Finance.The development of digital rubles began in 2021. Cointelegraph reported on July 2 that Russia plans to launch this central bank digital currency on September 1, with major banks and retail businesses starting to support related transactions at that time. This currency is being introduced as a supplement to the fiat ruble, initially processed by financial and credit institutions. EU authorities announced restrictions on this currency in April.

The artificial intelligence company DeepSeek has officially open-sourced infrastructure components for the Huawei Ascend computing platform, covering the TileLang high-level language compilation tool, computing libraries, and distributed communication libraries, corresponding to the previously open-sourced components for the NVIDIA platform. TileLang aims to provide a general-purpose, simpler programming language that can achieve the hardware performance limits, improving development efficiency and simplifying logic compared to CUDA, while its programming model can also leverage chip features.The TileLang route was first validated on the NVIDIA platform and has already supported the implementation of most operators in the training of the DeepSeek V4 series models. The open-sourced Ascend version encapsulates the underlying instructions of the Ascend C, providing a high-level programming approach without sacrificing hardware performance. Currently, every TileLang operator used in DeepSeek's training has a corresponding high-performance implementation on Ascend.The components open-sourced at the same time also include DeepGEMM, DeepEP, TileKernels, FlashMLA, and DeepSelect, which are used for general matrix operations, large-scale cross-device communication, conventional vector calculations and memory access, long-context sparse attention, and data filtering, respectively. DeepSeek claims that in multiple key tests, the related computing and communication performance has approached hardware limits; during the R&D process, the Huawei team provided support, and both parties collaborated to advance the 128-card supernode solution based on Ascend 950, with deep optimizations made for computing and communication.

According to Crypto in America, former CFTC Chairman Russ Behnam stated at the Georgetown University Financial Markets Quality Conference that as prediction markets experience explosive growth, Congress urgently needs to clarify the boundary between risk management and gambling, and related lawsuits may ultimately be submitted to the U.S. Supreme Court.Behnam also pointed out that after the Clarity Act failed to advance in the Senate, the CFTC's reliance on existing authority to regulate the spot market is akin to "patching things up with tape and paperclips," and regulators urgently need to establish more durable rules.

According to official social media news, Huobi HTX will hold a themed live broadcast titled "AI Agent Places Orders for You: Do You Dare to Hand Over Your Position?" today at 8 PM. At that time, 0xMoon and Dr. Dinosaur will have a dialogue with Yang Shao and Amber, discussing the application of AI Agent in trading decisions, strategy execution, and position management, exploring key issues such as the reliability of automated trading, account authorization, and fund security.

According to CoinDesk, the U.S. SEC has launched a five-year innovation exemption that provides a pathway for eligible tokenized U.S. stocks to be traded through automated market makers (AMM) on public blockchains. Analysts from Goldman Sachs and Citizens believe that Coinbase, Robinhood, and Circle could become early beneficiaries of this policy.The new framework requires tokens to retain shareholder rights such as dividends and voting rights while imposing limits on the number of stocks and trading volume that trading platforms can offer. Goldman Sachs stated that Coinbase's existing tokenized stock products already possess several of the required features, and its institutional custody business and Coinbase Tokenize may also benefit.However, Coinbase's current trading platform uses a centralized limit order book, and to operate a trading venue directly under the exemption, it will still need to build AMM infrastructure or route trades to decentralized trading platforms on Base.Currently, the stock tokens offered by Robinhood for markets outside the U.S. are derivatives that only provide price exposure and do not possess the complete shareholder rights required by the framework, thus requiring further adjustments to the product. Robinhood has previously stated plans to add 1:1 redemption and voting rights features for stocks.Analysts also believe that an increase in on-chain securities trading may drive demand for tokenized cash, benefiting Circle indirectly, with USDC potentially being used for settlement and collateral in on-chain markets.

Commissioner Hester M. Peirce of the U.S. Securities and Exchange Commission (SEC) made a statement regarding the committee's approval of the "innovation exemption."This exemption is a temporary, conditional arrangement that allows "tokenized securities venues" (TSV) to trade NMS "National Market System" stocks on-chain: TSV provides automated market maker liquidity pools and sets participant admission standards, and is exempt from the definition of "exchange" under the Securities Exchange Act; specific suppliers providing liquidity to TSV are exempt from the definition of "dealer." If issuers do not wish for their stocks to trade on TSV, they can choose to opt-out. The exemption is aimed at U.S. entities, and both existing institutions and new entrants can participate.Peirce emphasized that the committee does not presuppose that parties relying on this exemption necessarily fall under the definitions of "exchange" or "dealer," but rather hopes to first observe who is using it and how it is being used before making regulatory judgments.Peirce clearly delineated the boundaries of this order: it is not about decentralized finance. Systems that are driven by automated software and are truly decentralized do not raise fundamental concerns of securities regulation, namely that intermediaries trusted by investors may be foolish, careless, or compromised; investors using permissionless smart contracts for peer-to-peer transactions do not fundamentally require an exemption. TSV is merely one model of on-chain securities trading, and the committee is open to other models, as on-chain trading models that can comply with existing Securities Exchange Act requirements may not require an exemption at all.

According to The Guardian, UK media publisher Reach, which includes The Mirror and The Express, announced the layoff of 220 editorial positions due to a significant shift in reader behavior towards AI-generated summaries, resulting in a substantial decline in website traffic.David Higgerson, the company's Chief Content Officer, stated that this is the result of a "huge shift" in how audiences access content. Reach's data shows that traffic from Google has decreased by 46% year-on-year, and digital revenue has also slightly declined to £128.9 million.Meanwhile, the company will close three online brands: KentLive, AberdeenLive, and GalwayBeo, while adding approximately 60 editorial positions, focusing on subscription services and long video content to seek a sustainable development path.

The U.S. primary election season is nearing its end, and the cryptocurrency industry's super political action committee (PAC) has achieved victories in several key districts. Supported by major contributors such as Coinbase, Ripple, and a16z, Fairshake has helped approximately 50 candidates win nominations, including Massachusetts Democratic Congressman Jake Auchincloss, as well as Republican Senate candidates Barry Moore from Alabama, Andy Barr from Kentucky, Kevin Hern from Oklahoma, and Harriet Hageman from Wyoming. Prediction markets Polymarket and Kalshi indicate that these candidates have a winning probability of over 94% in the general election.Fairshake spokesperson Geoff Vetter stated that the organization has reserved $122 million for the fall elections. However, Fairshake also faced its biggest setback in Illinois, spending over $10 million in an attempt to prevent Democrat Juliana Stratton from securing the nomination but was unsuccessful. Additionally, the Fellowship PAC, supported by Cantor Fitzgerald and Anchorage Digital, has actually spent about $11 million, far less than the previously claimed $100 million; the Digital Freedom Fund, funded by the Winklevoss brothers with $21 million, has yet to engage in support for specific candidates.