nomic

The Kremlin announced that Putin and Trump plan to meet at the Asia-Pacific Economic Cooperation summit.

L2 Network Katana tweeted that it has completed three acquisitions, including the Sushi deployment on Katana (now Katana Swap), IDEX (now Katana Perps), and Vault Bridge (native yield generation).Katana also updated its tokenomics; vKAT and the voting mechanism will be phased out, and holders can participate in yields by staking to avKAT. Starting from November 17, a portion of the fees from Swap, Perps, Vault Bridge, and sequencer will flow to avKAT, and a programmatic buyback will be initiated, reducing the unstaking cooldown period from 45 days to 7 days.

U.S. Republican Senator Kevin Cramer accepted an interview with POLITICO and publicly called for Jensen Huang to resign as CEO of NVIDIA. He believes that Huang's extramarital affair poses a serious potential blackmail risk, especially considering that NVIDIA holds highly sensitive AI chip technology. Cramer stated, "The risk of being blackmailed is just too great; I think he must go."Cramer is a member of the U.S. Senate Banking Committee, which is reviewing several bills aimed at strengthening export controls on advanced AI chips. He believes that while it is certainly possible for NVIDIA's board to initiate an internal investigation, it is far from enough. Earlier that day, Larry Kudlow, the former director of the White House National Economic Council during Trump's first term, also publicly urged on Fox Business, "Mr. Huang, resign now." He believes this is a reasonable action for Jensen Huang to take at this time.As the controversy escalates, the U.S. Congress is also accelerating its scrutiny of NVIDIA's chip exports. The three bills under consideration by the Senate Banking Committee involve strengthening export approvals for advanced chips, tracking the destination of chips, and restricting the export of certain semiconductor manufacturing equipment. These bills are vying to be included in the annual National Defense Authorization Act and have not yet been fully passed.

John Higgins, an analyst at Capital Economics, stated that following the release of higher-than-expected inflation data, U.S. Treasury yields may face further pressure in the short term. The 2-year U.S. Treasury yield has risen more than the 10-year yield, reflecting an increased market expectation that the Federal Reserve's policy will become more tightening.Capital Economics expects that if the recent stock market rebound cannot be sustained, the trend in yields may reverse.

Federal Reserve Chairman Paulson stated that gradual interest rate hikes provide time for the economy to adjust. CPI data shows that inflation remains a problem, and he supports the Federal Reserve's recent interest rate decisions.

Federal Reserve Governor Bowman stated that the momentum of economic growth has strengthened this year.

ARK Invest founder Cathie Wood stated that she does not believe the results of the U.S. midterm elections will hinder the AI revolution. She believes that the uncertainty in the market is understandable, but the economy is on a stronger growth trajectory than most investors realize.She noted that the stock market began to factor in the possibility of an extended war in Iran and expectations of a Democratic sweep in the elections as early as May and June, and the rise in oil and gasoline prices has also increased the cost of living pressure on consumers. Voters concerned about household finances made the congressional election results appear more conservative than the headlines suggested.Cathie Wood expects that data center construction companies will pay more attention to local community concerns and provide and highlight more community benefits, including lowering property taxes, increasing high-paying jobs, promoting commercial development, and funding schools and cultural facilities.She stated that the productivity gains brought by AI are accelerating and expects these benefits to translate into higher wages, stronger profit margins, more investment, and lower prices, helping to alleviate cost of living pressures. The market is currently only beginning to experience the impact of this technological revolution.

On the evening of November 6, Beijing time, Vice Premier He Lifeng of the State Council held a video call with U.S. Treasury Secretary Janet Yellen and Trade Representative Katherine Tai. The two sides conducted in-depth exchanges on the consensus from the meeting between the Chinese and U.S. heads of state and the results of economic and trade consultations, discussing important economic and trade issues. The Chinese side expressed concerns about the U.S. restrictions on economic and trade relations with China. Both sides agreed to continue strengthening cooperation, properly manage differences, and promote the stable development of China-U.S. economic and trade relations.

In a report, KaiCatcher macroeconomist Joe Maher stated that even if market concerns about the political outlook in the United States prove to be excessive and the stock market rebounds in the short term, the U.S. stock market may still struggle to return to the early October highs.He pointed out that the catalyst for the overnight market sell-off seems to be investors' worries that Democrats may seek to regulate the artificial intelligence industry and limit data center construction, both at the congressional level and at the state level.Maher noted that the market sentiment towards artificial intelligence trades had already shown signs of weakness, and the U.S. stock market has exhibited many typical characteristics of a late-cycle phase. Therefore, this event could potentially serve as a triggering factor, leading to a longer-lasting retreat in the artificial intelligence stock boom.

According to CryptoBriefing, the Ethereum Economic Zone (EEZ), jointly initiated by Gnosis and Zisk and funded by the Ethereum Foundation, launched the Rollup X development testnet (devnet) at Devcon 8 to demonstrate synchronous composability. The EEZ aims to connect applications on dedicated chains through Ethereum's neutral infrastructure, enabling atomic cross-chain execution, allowing one EEZ rollup or a contract on the Ethereum mainnet to call another contract in a single transaction, with ETH as the default gas token, without introducing new tokens.The EEZ is governed by a Swiss non-profit organization, with alliance members including Aave, Safe, and Centrifuge. Gnosis Chain plans to migrate to the EEZ rollup in the spring of 2027, becoming the first major active network to test this framework. The report notes that its risks lie in the high technical difficulty, and multi-system atomic execution may expand the attack surface.

According to a report from DeepMind Institute, Google DeepMind researchers Alex Imas, Andrew Koh, and co-founder Shane Legg stated that the enhancement of individual AI capabilities will only gradually affect wages and prices. It is only when the collaborative abilities of multiple agents surpass the "super-collaboration" threshold that market concentration, employment, and wages will experience a sudden change.The article divides the development of AI into four stages: minimal AGI, super-competent AI, super-collaborative AI, and ASI. The article points out that current AI has strong individual capabilities but weak collaborative abilities, and changes in wages and job positions will occur before changes in corporate structures. The authors call for the establishment of benchmarks to measure the organizational capabilities of multiple agents.

The Oxford Economic Research Institute stated that the GDP growth rate in the United States for the third quarter reached 3.4%, exceeding expectations, reflecting the ongoing investment boom in artificial intelligence.The report pointed out that private fixed investment has increased significantly, and future economic growth will unusually depend on corporate investment. The wealth effect related to artificial intelligence has supported some consumer spending, but the reliance on investment is a risk worth noting.

The initial jobless claims data from the United States last week, the preliminary quarter-on-quarter real personal consumption expenditures for the third quarter, the preliminary quarter-on-quarter real GDP and core PCE price index annualized quarter-on-quarter, the month-on-month personal spending for September, and the month-on-month and year-on-year core PCE price index will be announced in ten minutes.

Federal Reserve Chairman Waller stated that economic growth has strengthened.

The Cosmos ecosystem decentralized exchange Osmosis has restored the reserve support for Alloyed BTC asset allBTC through a governance proposal. Previously, the Nomic cross-chain bridge minted 40.650602 nBTC on June 25 without Bitcoin reserve backing, of which 39.839746 was counted as collateral for allBTC, causing the support rate of allBTC to drop to 63.97%. After Nomic suspended operations on September 7, Osmosis validators froze 22.650608 allBTC held by the attacker through an emergency upgrade.According to the passed proposal, Osmosis will transfer the frozen attacker assets to the liquidity sub-DAO and utilize 12.4838 allBTC held in the community pool, as well as approximately 4.7 BTC released from the canceled USDC liquidity deployment, to fill a gap of about 39.84 BTC. The subsequent v32 software upgrade will mark the contaminated nBTC as invalid, withdraw it from the allBTC alloy, and destroy it, allowing allBTC holders to restore full support.The proposal indicates that approximately 18 BTC has been transferred out of Osmosis and laundered through Tornado Cash, making it impossible to recover directly. Osmosis stated that it will continue to track the remaining funds and restore the deposit and withdrawal functions of allBTC after the allBTC balance reaches zero and nBTC is removed from the alloy.

JUST announces the official release of the new white paper. As an important ecological document following the brand upgrade, the new white paper systematically outlines the JUST ecological architecture, the positioning and collaborative relationships of the three core product lines, and provides detailed explanations of the updated JST token economics, covering key content such as governance mechanisms and buyback and burn arrangements.The new white paper helps users, developers, and the community to gain a more comprehensive understanding of the upgraded ecological layout, token mechanisms, and long-term development direction, further enhancing ecological transparency and providing a clear reference for subsequent ecological participation and development integration.

In a live broadcast in the third quarter, Aave founder Stani stated that Aavenomics 3.0 will include AAVE buybacks, staking, and burning.The AAVE buyback was suspended the day after the rsETH vulnerability incident on April 19. Since then, the DAO has committed to providing 25,000 ETH to DeFi United to compensate for the losses and has arranged for Mantle to provide a credit line of up to 30,000 ETH. Before the buyback was suspended, there was a proposal in the forum suggesting to reduce the annual buyback budget from approximately 50 million dollars to 30 million dollars.

According to the Shenzhen Economic Investigation Bureau, recent investors have suffered financial losses due to participating in investment scams under the guise of "RWA real estate tokenization." These scams typically use technical packaging such as "smart contract automatic dividends" and "blockchain browser verifiable" to lure investors into purchasing fictitious on-chain fragmented property rights. Once the funds are in place, they stop paying dividends and disappear.The Shenzhen Economic Investigation Bureau pointed out that the smart contract address and company registration information can only confirm the existence of the code and the business entity, and do not represent a real binding of underlying physical assets, nor do they indicate that the project has financial business qualifications. According to current regulatory regulations in China, any tokenized financing activities carried out domestically under the name of RWA are considered illegal financial activities. Virtual currencies do not have legal tender status, and related token issuance, financing, and trading speculation are not protected by law.

European Central Bank President Christine Lagarde stated that the sell-off in the bond market has led to an increase in borrowing costs in the Eurozone, which has hindered economic growth and ultimately suppressed inflation. She pointed out that tightening financing conditions and rising long-term interest rates will slow down economic growth and weaken the transmission effect of prices.