News linked to this event type.
According to CoinDesk citing the Financial Times (FT), CalPERS, the California Public Employees' Retirement System and the world's fifth-largest pension fund managing over $600 billion in assets, will cut its combined direct shareholdings of the "Magnificent Seven" tech stocks by 26% in the first half of 2026 (as calculated by FT from regulatory filings). CalPERS Deputy Chief Investment Officer Anton Orlich stated that public market valuations are high, tech giants may underperform compared to other investments, and the fund is increasing its private equity allocation to diversify investments and reduce reliance on a few market leaders.
According to TNW, London startup Nous has announced closing a $17 million funding round, backed by Heartcore Capital and existing seed investor Mosaic Ventures. Chalfen Ventures, Joyance Partners, and Bain Future Back Ventures also participated in the round. Angel investors include Monzo and GoCardless co-founder Tom Blomfield, Founders Factory's Brent Hoberman, and Faculty co-founder Marc Warner.
Odaily reports: As SK Hynix shares have fallen about 56% from their all-time high, market concerns over massive AI infrastructure investments and high financing costs continue to mount. Two Tradr ETFs linked to SK Hynix will liquidate around November 12, only about three and a half months after their US listing. The two products are a 2x long and an inverse short ETF on SK Hynix American Depositary Receipts (ADRs), launched on July 28 of this year. (Bloomberg)
Neutral Trade has announced that, due to the delayed launch of the TermMax token and the renegotiation of yield terms, the airdrop allocation for the TermMax private credit vault is now being disclosed. The airdrop portion consists of TMX tokens calculated at a $60 million FDV valuation, which will be distributed to depositors based on the September 25, 2025 snapshot ratio after being sold. The distribution plan is 50% released one month after launch, followed by 12.5% per week for 4 consecutive weeks; distribution will begin this week.
Nomura Securities assesses that memory manufacturers' 2027 capacity has already been locked in during October's long-term agreement negotiations, with default penalties ranging from 50% to 100% of the annual demand value, indicating the memory super cycle will continue. Shareholder pressure will slow capital expenditure but will not stop the race. A shutdown of the financing market could halt this competition, but Nomura Securities does not consider it a systemic risk. Power bottlenecks primarily cause delays, postponing chip deliveries without canceling demand.
Odaily report: The California Department of Financial Protection and Innovation (DFPI) has submitted a comment letter to the U.S. Securities and Exchange Commission (SEC) opposing its "Regulation Crypto Assets" proposal, stating that the plan could weaken investor protection and limit state government review of issuance projects. DFPI Commissioner KC Mohseni said California opposes federal regulators undermining state-level regulatory authority and protective measures.The proposal would allow eligible issuers to raise up to $5 million over four years through a startup exemption; another crypto fundraising exemption would allow issuers to raise up to $75 million within 12 months. Relevant issuances would need to disclose project details, risks, and other information necessary for investor assessment, and some fundraisings would also require submission of financial statements and ongoing reporting.Federal securities laws still preserve states' authority to investigate securities fraud, deceptive practices, and illegal broker or dealer activities. Blockchain payments company Ripple, crypto exchange Coinbase, and exchange operator Nasdaq all support adjusting the proposal; the DFPI said its scam tracker list added nearly 200 crypto-related scams, an increase of 30% from the previous year. (Bitcoin.com News)
Odaily reports: Musk posted on X platform that over the past few weeks, the debt financing market has almost completely shut off financing channels for companies lacking substantial revenue sources outside their AI data center businesses. Musk stated that SpaceX has completed $40 billion in GPU-related debt financing, thanks to its investment-grade credit rating and the revenue generated by Starlink and its rocket launch business.He predicts that more than 200 emerging cloud service providers (Neoclouds) will face large-scale bankruptcies and industry consolidation, with only a few ultimately surviving.
Cynthia Lummis posted that Democrats had requested lowering the annual fundraising cap for cryptocurrency regulation from $75 million to $50 million and adding a $200 million lifetime cap. She said the relevant provisions had been agreed to and written into the Crypto Market Structure Act (CLARITY Act), but Democrats subsequently still voted against this rule aimed at protecting retail investors.
Goldman Sachs strategists lowered their 12-month target for South Korea's KOSPI index from 12,000 points to 9,000 points, stating that valuation assumptions need to be more conservative.
Odaily reports: Four.Meme's OpenFour has officially launched a new token launch mode called Binance Agent ID Exclusive, designed specifically for AI Agents in the BNB Chain ecosystem, with support from Binance Wallet.During the Bonding Curve trading phase, this mode only allows Binance Agentic Wallets holding an Agent ID to participate in trading. Each wallet may hold a maximum of 1% of the total token supply, and tokens are non-transferable. After the token completes Graduation, trading will be opened to all users.With the support of Binance Wallet, users can participate in trading without enabling Developer Mode.Any wallet can create tokens through this mode, using BNB as the fundraising currency, and supports setting an optional trading tax. Developers can pre-purchase up to 1.5% of the fundraising amount in tokens before launch and may sell during the Bonding Curve phase, but cannot continue buying after launch.All tokens issued through the Binance Agent ID Exclusive mode will display an exclusive ".ai" label on the Four.Meme platform, allowing users to identify tokens issued under this mode.
Since 2025, as of October 5, Bitcoin treasury companies such as Strategy and Strive have financed the purchase of 135,979 BTC through preferred stock offerings, accounting for more than 0.5% of Bitcoin's maximum supply; the related preferred stock market is approximately $12 billion. Perpetual preferred stock has no fixed maturity date, which can alleviate refinancing pressure and attract yield-oriented investors who are unwilling to hold Bitcoin directly; however, expanding issuance also increases dividend expenses. Sustained financing for Bitcoin purchases depends on preferred stock trading at or near par value. If prices fall below par, the appeal of new issuance may decline, and companies may turn to buybacks. James Butterfill, Head of Research at CoinShares, said Strategy's latest weekly report shows the company spent $193 million to repurchase STRC, bought 267 BTC during the same period, and raised its preferred stock repurchase authorization to $3 billion. Buybacks can reduce future dividend costs but also compete with Bitcoin purchases for capital. Ryan Rasmussen, Head of Research at Bitwise, expects ETFs will remain a larger source of Bitcoin demand over the long term, while perpetual preferred stock covers a different group of yield-oriented investors and provides another source of demand support for the market. Butterfill believes preferred stock may amplify market cycles: when financing conditions are favorable, it supports Bitcoin purchases; when market sentiment weakens, that support may diminish.
the Monetary Authority of Singapore has announced the expansion of the BLOOM cross-border digital currency settlement initiative, with Bank Negara Malaysia and the Bank of Thailand joining as policy-making members. BLOOM is a public-private partnership initiative covering regulated stablecoins and tokenized deposits, with participants including Mastercard, Visa, Nium, Ripple, Circle, Coinbase, Airwallex, Maybank, Monee, Shopeepay, and the World Bank Group. The initiative will study the acceptance of different forms of currency, inter-institutional contracting, settlement, and system connectivity, and will implement identity verification and sanctions screening through programmable controls, with applications spanning payments, corporate treasury, and trade finance.
According to Bloomberg, SpaceX's proposed $40 billion AI financing plan has faced roadblocks. Sources indicate that SpaceX plans to conduct fundraising through a special purpose entity (SPV), a financing structure that would allow it to move related liabilities off its balance sheet to protect its own investment-grade credit rating. However, recent turbulence in credit markets has complicated negotiations over borrowing costs, as investors begin reassessing the risks associated with financing large-scale AI infrastructure projects. Goldman Sachs is currently leading discussions with an investor group spearheaded by Apollo Global Management.
Odaily reports: Bankless founder David Hoffman posted on X that a batch of tokens he refers to as "2017-era Bitcoin clone coins" have recently gained momentum again. Among them, PRL rose 30% this week, with a fully diluted valuation (FDV) of approximately $4.2 billion; QTC rose 300% this month, with a valuation of approximately $1.8 billion based on a total supply of 21 million tokens.David Hoffman believes that what is noteworthy is that such tokens, which adopt a fixed supply cap of 21 million, are now commanding multi-billion-dollar valuations.
Odaily reports: AI pharmaceutical company Pathos AI has completed a $237 million Series E funding round at a post-money valuation of approximately $3 billion. The round was led by Bristol Myers Squibb, with participation from existing investors. Pathos AI plans to use the new funds to expand its Foundry platform, which leverages thousands of AI agents to assist drug discovery and development, while advancing its four cancer therapeutics currently in clinical stages. (Reuters)
Odaily Report: Data shows that Hyperliquid auction cumulative spending has reached 346,005 HYPE, valued at approximately $27 million at current estimates.
Bank of America strategist Michael Hartnett stated in his latest client report that current global market risk-aversion sentiment may persist until mid-November. Until uncertainties regarding AI financing risks, pressure in the French bond market, and the US midterm elections are alleviated, the bank remains tactically cautious toward risk assets. On the liquidity front, although investors are beginning to shift toward defensive positioning, tech stock holdings remain crowded. EPFR Global data shows that tech equity funds recorded the largest capital inflows since July over the past week, and BofA’s October fund manager survey also indicates that global investors’ allocation to tech stocks has reached its highest level since August 2020. Hartnett noted that if credit spreads related to AI super cloud vendors peak, it could serve as an important signal of improved risk appetite.
Odaily reports: Orochi Network announced an additional $8 million in funding, bringing its cumulative fundraising to $20 million. The funds will be used to build verifiable data infrastructure for real-world asset (RWA) tokenization. This round received support from MEXC Ventures, Plutus VC, Bolts Capital, Ant Labs, and previous investors, and the project also received a grant from the Ethereum Foundation.Orochi Network stated that its verifiable database zkDatabase has launched on mainnet, having processed over 700 million proofs cumulatively with more than 10,000 downloads. It has established partnerships with projects such as Plume, Lumia, Nexus, and OG, and its alliance has over 120 enterprise partners. The network aims to use cryptographic technologies such as zero-knowledge proofs to verify the authenticity and integrity of asset data, providing data verification and audit infrastructure for applications including RWA, stablecoins, and AI.
QCP stated that credit risk related to AI infrastructure is undergoing accelerated repricing. The yield on CoreWeave bonds has risen to approximately 15% year-to-date, and its stock price fell 10% on October 22 as markets begin to reassess high financing costs and debt sustainability. This pressure has spread from CoreWeave to the broader neocloud infrastructure sector, weighing on tech stocks and crypto assets while driving funds toward long-term US Treasuries.
According to The Wall Street Journal, SK Hynix has officially called off the U.S. IPO plan for its memory chip subsidiary Solidigm and terminated the concurrent pre-IPO financing. The company said the decision was primarily based on recent capital market conditions and stock price trends, and does not signal any changes in Solidigm's business outlook or investment needs.