edge

Analyst Ming-Chi Kuo stated that Jensen Huang's departure could create market opportunities for Google's self-developed AI chip TPU. Kuo mentioned that Tim Cook excels in cost management, but Jensen Huang performs better in new technology planning and development.

According to Unfolded, citing CFTC position report data, as of November 3, the net short position of leveraged funds in CME standard Bitcoin futures has decreased to 12,955 BTC, down 89% from the peak of 115,985 BTC on December 17, 2024, marking the lowest level since February 2023, indicating that hedge funds have significantly closed their Bitcoin basis trades.Unfolded stated that the arbitrage buying that previously boosted ETF inflows has essentially disappeared, and the capital flow into spot ETFs will more reflect genuine directional demand, with structural buying that can act as a buffer during price declines also decreasing.

According to a report by IT Home on November 12, the South Korean Ministry of Trade, Industry and Energy announced the country's edge AI semiconductor technology development project roadmap on the same day. The total amount of the project is 800.2 billion Korean won, which is approximately 3.993 billion Chinese yuan based on the reported exchange rate. The goal is to complete the development and verification of 10 AI chips by 2030.The roadmap shows that among these 10 chips, 3 are aimed at smart home appliances, with 1 each for autonomous driving, collaborative robots, humanoid robots, agricultural robots, and drones, along with advanced processes and extreme scenario projects. Foundries such as Samsung Electronics will prioritize allocating resources for multi-purpose wafer testing and tape-out to domestic projects, while IP companies will reduce the IP usage costs for Korean chip designers through flexible methods. Chip customers will also participate in the R&D process.

According to CoinDesk, Ripple's XRP Ledger lending system designed for banks and payment companies has gained support from 3 additional validators since mid-October, bringing the total votes to 22, still 7 votes short of the 29 required to launch. Both the system and its accompanying SingleAssetVault amendment need to obtain 29 votes each within two consecutive weeks to activate.As of Wednesday's data, "LendingProtocol" and its first patch each have 22 votes in support, while the "SingleAssetVault" for creating a funding pool has 23 votes. The design requires depositors to deposit XRP or other tokens into the vault, which loan brokers lend out for a fixed term, with borrowers not needing to provide collateral; the system relies on off-chain underwriting and risk management. Additionally, developers are still advancing related work before the voting, with a code merge request planned for November 4 to add a third lending amendment.

According to Tether's official announcement, Tether AI Research has released the open-weight model QVAC BotPsy, which has 800 million parameters and is based on the Alibaba Qwen3.5 architecture, aimed at tool invocation and agent tasks on personal devices.Tether stated that in four evaluations: BFCL v4, ACEBench, τ-bench, and ToolSandbox, BotPsy's scores are approximately twice that of its base model and surpass the 2 billion parameter Qwen3.5-2B-Think. The model can convert user requests into local tool calls, and developers can adapt and deploy its weights within their own systems.

The latest monitoring report released by Morgan Stanley's prime brokerage team on Tuesday shows that global equity hedge funds staged the most intense de-risking action in over a decade during the first week of November, with a widespread wave of liquidations spreading across global markets.In the Asian market, hedge funds are controlling risk exposure through a dual strategy of reducing long positions and increasing short positions, a phenomenon particularly pronounced in the tech-heavy South Korean market. The selling pressure is mainly driven by fundamental stock-picking funds, while multi-strategy, macro, and quantitative funds are taking the opportunity to close out previous short positions, indicating a clear divergence in institutional strategies.Goldman Sachs data shows that the total leverage of U.S. fundamental long-short funds plummeted by 8.7 percentage points in a single week, marking the largest decline since the outbreak of the pandemic in March 2020; however, from the perspective of all-inclusive PB clients, the overall total leverage remains as high as 314.2%, placing it in the 85th percentile over the past year. Dubravko Lakos-Bujas, Global Market Strategy Chief at JPMorgan, believes that this round of adjustment is essentially a concentrated deleveraging by momentum traders, with capitulation-style selling already quite deep, and technical indicators suggest that short-term oversold and bottoming signals are accumulating.

NVIDIA (NVDA.O) announced the official release of Alpamayo 2 Edge.

Veteran Wall Street figures Alex Popa and Charles Elkan are establishing a new stock hedge fund primarily operated by artificial intelligence agents. The fund's first strategy, AI Clarity, will open to external clients early next year, investing in 80 to 100 large-cap U.S. listed stocks, with a target holding period of three years.

The XRP Ledger Foundation's 2027 roadmap outlines the anti-quantum signature amendment, planning to first study migration solutions, and then advance development and auditing.

According to a chart shared by trader Ansem, the ascending wedge that appears after a significant decline may be accompanied by decreasing volume, indicating that the upward momentum is weakening.The chart points out that this trend may entice traders to re-leverage as prices form higher highs and higher lows; if prices drop rapidly, stop-loss orders near the lows along the way may trigger selling. The top of the wedge may also coincide with a higher resistance level from before the previous decline.

According to CoinDesk, the privacy public chain Midnight has upgraded its mainnet to Ledger 9, adding support for privacy asset transfers, introducing inter-contract call execution features, and new cryptographic standards such as Keccak-256 and ECDSA.

According to Bloomberg, Wall Street's reaction to the U.S. midterm elections shifted from positive to negative in about 24 hours. The sell-off on Thursday spread from retail investors to hedge funds, long-only asset management firms, and quantitative strategies, causing a loss of approximately $3.7 trillion in market value for U.S. stocks in a single day, with the Nasdaq 100 index recording its largest drop since March 2020. Initially, the stock market rose after the elections due to the reduction of event risk and a decline in oil prices, but investors later reassessed the risks of Democratic scrutiny on data center expansion.In the first half hour after the market opened on Thursday, retail investors were the first to sell for profit, followed by hedge funds and long-only firms. Data from Vanda Research shows that the net selling scale of retail investors on that day was second only to two days during the pandemic shock in March 2020. Its strategist Viraj Patel pointed out that while retail and systematic investors were actively selling, institutional buyers chose to step back. The decline subsequently triggered mechanical selling, with Nomura strategist Charlie McElligott estimating that based on the negative gamma exposure during Thursday's trading, for every 1% drop in the market, options market makers would generate an additional selling pressure of about $7 billion.Volatility control funds estimated that they needed to reduce their holdings by about $61 billion in stocks based on market changes at the time, with about $25 billion in sales still being executed on Wednesday. The rebalancing of leveraged ETFs is expected to bring about an additional $47 billion in stock sales. Vanda estimated that commodity trading advisors sold about $13 billion in S&P 500 and Nasdaq futures. Goldman Sachs' prime brokerage trading desk estimated that fundamental long-short funds lost about 1.3% on Thursday, while technology-themed funds fell over 4%. The basket of stocks in storage, optical networks, data centers, and AI semiconductors dropped by 12% to 15% that day, and the VIX index rose from 16.6 points at the opening to nearly 28 points at the close.

Former Moore Capital Management portfolio manager Paul Yablon is returning all external funds from the digital asset hedge fund Room40 Capital, opting to manage his own capital and that of an institutional partner, while expanding the investment strategy from cryptocurrencies and digital assets to macro trading.Paul Yablon admitted that the $6.3 billion hacking incident at Binance highlights the ongoing security challenges faced by the cryptocurrency industry, while clarifying that Room40 Capital does not hold any assets from Binance. The main reason for this exit is the asymmetric risk-reward ratio and the fact that favorable cryptocurrency investment opportunities have become very scarce. According to informed sources, Paul Yablon will return to Moore Capital as a macro portfolio manager.

Binance stated that the latest proof of reserves zero-knowledge proof has been generated, and users can verify their account balances to obtain at least 1:1 asset backing.

According to informed sources, due to the sell-off of artificial intelligence-related stocks impacting global markets, one of Asia's largest hedge funds, Aspex Management, recorded a loss of about 16% in October, marking one of the largest monthly declines in the fund's history. As of the end of October, the fund is still up 9% for the year.

According to a letter to investors from Walleye Capital, the hedge fund will streamline its internal long/short equity business, replace the leadership of this business along with a significant portion of the investment team, and plans to return some capital to investors, with specific amounts, timing, and methods to be announced separately.Walleye lost 5.9% in October, marking its worst monthly performance since March 2020. The company stated that the internal long/short equity business has performed the weakest since 2023, and will subsequently focus more on volatility, quantitative, and external management strategies, but will still retain stock investments through external managers and high-conviction internal managers.The financial research community Special Situations also summarized that internal teams from Axebrook, Engineers Gate, Lone Pine, Millennium, and Verition, along with Samlyn, have experienced liquidations, large redemptions, or team adjustments this week. Some of this information has not yet been officially confirmed and should not be interpreted as all related funds having been liquidated.

FOX reporter Charles Gasparino stated that according to a CEO of a financial services company, "the number of hedge funds being dragged out in this round of U.S. stock declines has reached the highest level since 2009. This is necessary. More pain is needed to prepare for the bottom."