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CITIC Securities research report points out that management changes in leading technology companies may exacerbate short-term market volatility, but systemic selling pressure may be relatively limited. The slowdown in AI capital expenditure growth helps improve the free cash flow situation of CSP, and the SaaS sector is expected to benefit. The pricing logic of U.S. stocks may gradually return to the fundamentals of corporate earnings, with earnings growth and upward revisions in expectations supporting the market's mid-term performance.

The New York Federal Reserve stated that the Federal Reserve did not intervene in the foreign exchange market in the third quarter; during the same period, the U.S. Treasury had purchased yen in the foreign exchange market.

Aave posted on platform X that the loan exchange feature is now live on Aave Pro's Aave V4 Ethereum, Base, and Avalanche markets. Users can exchange loans from one asset to another without closing their positions, and this feature is supported by @CoWSwap.

Binance founder Zhao Changpeng stated that it was a mistake for Nvidia to force Jensen Huang to resign.

According to Polymarket data, in the "Next CEO of NVIDIA" prediction market, the probability of the "No Change" option for Jensen Huang has risen from 19% earlier today to 29%, ranking first. NVIDIA's Vice President of High-Performance Computing Ian Buck has dropped to second place with 25%, while Chief Financial Officer Colette Kress ranks third with 23.3%.According to the rules, "No Change" means that NVIDIA has not announced an official successor before 23:59 Eastern Time on December 31, 2028, and interim CEOs do not count. Therefore, even if Jensen Huang steps down, as long as NVIDIA appoints only an interim CEO within the deadline, this option can still prevail. The 29% is the implied probability of "no official successor announced," not the probability of Jensen Huang staying on in the short term.

On November 12, at the 23rd China International Semiconductor Expo (IC China 2026), Luo Xiaodong, Vice President of Changxin Technology, stated that due to the surge in global computing power demand, the computing power super cycle is entering a new "layered era."Luo Xiaodong pointed out that this layering is first reflected in the growth differentiation of segmented markets. Currently, the server market demand accounts for over 50%, prioritizing high-value scenarios such as AI large models and intelligent computing centers; the automotive market is expected to have a compound annual growth rate of about 30% by 2030; the penetration of AI functions in consumer electronics markets such as mobile phones and PCs is accelerating, but still exhibits significant cyclical volatility characteristics.

According to Blue Whale Finance, the latest progress of DDR5 RDIMM and MRDIMM product lines has been obtained from the storage chip manufacturer Changxin.The DDR5 chips have completed iterations from 24Gb to 32Gb. The RDIMM modules achieve mainstream capacities ranging from 32GB to 128GB, with full coverage of speeds from 5600Mbps to 8000Mbps. The MRDIMM covers capacities of 128GB and 192GB, with a maximum speed of up to 12800Mbps.

The Financial Services Commission of South Korea plans to allow cryptocurrency exchanges to proactively suspend deposits and withdrawals under certain conditions when they are suspected of being attacked by hackers, and requires strengthening security monitoring.

The draft of South Korea's "Basic Law on Digital Assets," expected to be announced this month, will propose that a bank-led consortium be responsible for issuing the Korean won stablecoin. However, even if banks are responsible for issuance, exchanges and third-party payment platforms may still take on the circulation link connecting consumers and merchants, making user entry points and application scenarios key to competition.It is reported that the business integration between Upbit's operator Dunamu and Naver Financial could become an important variable. If related services are approved for integration, Dunamu could generate revenue through stablecoin transactions, while Naver Financial is expected to collect fees through merchant payments and settlements. A representative from South Korea's financial regulatory authorities pointed out that if stablecoins are used for electronic payments, related businesses may need to comply with the "Electronic Financial Transactions Act," and clarify obligations regarding the protection of recharged funds and settlement funds, transaction information management, and dispute resolution.

ByteDance founder Zhang Yiming recently provided a timeline at the all-hands meeting of the Seed team, stating that ByteDance is not expected to compete with OpenAI and Anthropic in the cutting-edge AI field until 2029 to 2030 at the earliest. Zhang Yiming pointed out that the pre-training dataset used by the Seed large language model is several orders of magnitude smaller than that of top competitors. Doubao is the largest AI chat application in terms of user scale in the country, and the video generation model Seedance has also entered the ranks of the world's top models.When Seed 2.1 was released in June this year, the team admitted that the model still has significant shortcomings in high-difficulty open tasks and cutting-edge scientific research problems. In May this year, the company discussed raising its annual capital expenditure to a maximum of $70 billion, mainly for building AI data centers and other infrastructure. In August, it was reported that Seed is pre-training a large model with up to 100 trillion parameters, surpassing all publicly available large models in the country.Seed currently has about 1,000 R&D personnel, led by Wu Yonghui, who was recruited by Zhang Yiming from Google DeepMind last year. ByteDance has also launched a virtual stock "Doubao Stock" linked to the Doubao business. ByteDance plans to launch a personal AI assistant similar to Meta Muse in the coming weeks, allowing users to interact with AI through voice and virtual avatars and have it complete tasks on their behalf. The personal assistant project, internally codenamed Spell, began internal testing in April but was not officially launched due to the release of the Doubao phone and other reasons. It is now planned to be further integrated with Doubao.

tZERO Group, a financial market infrastructure provider, announced that the U.S. Commodity Futures Trading Commission (CFTC) has approved its wholly-owned subsidiary tZERO DCM, LLC to register as a designated contract market (DCM), allowing it to operate a regulated derivatives exchange. Previously, on October 16, the CFTC approved tZERO DCO, LLC to register as a derivatives clearing organization (DCO). Currently, tZERO can support derivatives trading and clearing through its regulated entities.The two registrations will be incorporated into tZERO's infrastructure as a service (IaaS) business, developing trading and clearing services for financial institutions and other market participants. According to the merger agreement signed between tZERO and FG Imperii Acquisition Corp. on October 31, both DCM and DCO have been approved to constitute the first contingent milestone condition, which has now been met. tZERO's existing regulated securities infrastructure includes broker-dealers, alternative trading systems, digital asset securities custody, transfer agents, as well as clearing and settlement services.

PredictStreet has updated its official website to state that it uses USDC instead of USD1, claiming that the previous information is outdated. On-chain analysis has found no evidence that the platform trades using USD1; it actually uses USDC issued by Circle.An IHC spokesperson stated that the operator of PredictStreet is no longer a subsidiary of IHC. Approximately 64% of the USD1 circulation is held on Binance, while no other exchange holds more than 5%.

The decentralized oracle network Pyth Network announced that it has integrated real-time market data from the New York Stock Exchange into its data marketplace.The newly launched Level 1 market data covers five exchanges under the NYSE Group. Customers must first obtain data authorization directly from the NYSE in order to access the relevant data through Pyth.

According to TASS, the Central Bank of Russia stated that the Russian exchange can start cryptocurrency trading from November 22, 2026, but must first reach an agreement with regulatory authorities on trading rules. The Russian Ministry of Justice has registered the Central Bank of Russia's directive regarding organized trading requirements for digital currencies and digital rights.According to the regulations, exchanges must register participants in cryptocurrency trading such as brokers, trust managers, and central counterparties, maintain records of orders and transactions, and monitor trading. They must also calculate current prices, weighted average prices, market prices, and closing prices, and report trading information to the Central Bank of Russia in the same manner as existing other assets.Previously, the Central Bank of Russia finalized the rules for retail cryptocurrency trading, which will be implemented starting November 17.

According to The Block, OKX and the New York Stock Exchange's parent company Intercontinental Exchange's joint venture OKXICE plan to launch a tokenized securities trading platform on November 23, applicable to the five-year innovation exemption from the U.S. Securities and Exchange Commission (SEC).The two companies stated that they have currently confirmed 70 assets from issuers such as Coinbase, Circle, and Robinhood, as well as 59 exchange-traded funds. U.S. customers who complete the account opening process and hold a CeDeFi wallet can use the platform.The report noted that as of the documents dated November 5, 67 companies have chosen not to allow their stocks to be traded in a tokenized manner on the platform, including Meta, Tesla, and Netflix.

This week, the New York Stock Exchange chose Avalanche to provide infrastructure for its upcoming tokenized securities platform. On Monday, Ava Labs announced that Avalanche will serve as the "core ledger technology" for the tokenized securities platform being developed by the NYSE's parent company, Intercontinental Exchange. The product is designed to support 24/7 trading, clearing, and settlement of tokenized securities, pending regulatory approval.Market maker GSR research analyst Carlos Guzman stated that this is a "significant victory for the project," as the NYSE's choice of its technology for settlement greatly enhances institutional credibility and validates the value that blockchain technology brings to traditional financial infrastructure through instant settlement and programmability. Luther Maday, North America head of crypto payment company Mercuryo, mentioned that this decision was made after approximately a year of testing on Avalanche, indicating that the network has passed tests for performance, reliability, and control.Experts also remind that providing infrastructure does not necessarily mean the long-term value of the AVAX token will rise. Guzman pointed out that while the NYSE will use Avalanche infrastructure for clearing and settlement, actual transactions will still occur off-chain, with related activities running on dedicated infrastructure rather than the public C-Chain that carries most of the network's activities. Misha Putiatin, founder of Symbiotic, stated that the main challenge for Avalanche is whether it can achieve "value capture" that is difficult for other blockchains. According to Decrypt data, AVAX rose 3.6% in the past 24 hours to $8.64.

CryptoQuant analyst Darkfost stated that since October, Bitcoin has undergone a chip distribution phase, resulting in a correction of about 15%. Currently, losses dominate after the profit-taking phase of short-term holders (STH).In the past 24 hours, short-term holders have sent 48,500 BTC to exchanges, of which 47,300 were sent at a loss, making it one of the strongest STH capitulation behaviors in recent months.

According to the latest stock spot exchange rankings released by RootData, the top three exchanges are Binance, Bitget, and Gate.Among them, Binance scored 82, with a 24h public order book transaction volume of 334 million USD and a market share of 24.24%; Bitget scored 71.6, with a 24h public order book transaction volume of 83.3861 million USD and a market share of 6.04%; Gate scored 70.1, with a 24h public order book transaction volume of 65.8801 million USD and a market share of 4.77%.

According to Cointelegraph, Brazilian cryptocurrency exchange Mercado Bitcoin announced that it plans to resume deposits and withdrawals in Brazilian Reais through Brazil's instant payment system Pix starting next week. This comes more than two weeks after the exchange's hot wallet was attacked, resulting in a loss of approximately 49 million dollars.Users can only withdraw to accounts under their own names, and the settlement earnings from fixed income products will also be credited. Cryptocurrency deposits and withdrawals are still suspended, and the exchange has not announced a specific date for resumption.