News linked to both this project and an event.
Cryptocurrency exchange Binance said it will publish the results of its proof of reserves on November 2. Binance stated on October 30 that it has recovered approximately 80% of the stolen assets and is still processing the remainder; the proof-of-reserves snapshot is planned to be taken after the buyback is completed. Some users on Platform X have questioned that taking a snapshot after the buyback cannot reflect the previous asset shortfall, and the related insider-job claims currently have no solid evidence to support them.Blockchain intelligence firm TRM Labs attributed the theft to the North Korean hacker group Tradertraitor and said it has high confidence in this judgment. TRM Labs stated that the attackers may have controlled Binance's hot wallet signing system, and the funds were transferred out via ten blockchains in about 20 minutes; Elliptic said that a North Korea-linked group may be involved, but no government or law enforcement agency has yet confirmed the attribution.Binance said it has discovered other points of intrusion and that there is no evidence that wallet private keys were leaked; co-CEO Richard Teng stated that only Binance's own hot wallet was compromised and that customer funds were unaffected. Binance said withdrawals are expected to resume in stages within about 34 hours, after which it will publish the reserves report and a full technical post-mortem. (Bitcoin.com News)
Odaily reports: Investment firm Seawolf Capital says it is shorting cloud computing company CoreWeave. The firm was founded by three traders known for the book and film "The Big Short," and co-founder Vincent Daniel said the short position began with an analysis of CoreWeave's business model.Seawolf Capital points out that CoreWeave rents out AI compute powered by high-end GPUs, a model similar to businesses that purchase specific assets and then lease them out. The firm believes the economic lifespan of GPUs may fall short of oil drilling equipment, aircraft, or shipping equipment, and that competing chip compute supply is rapidly increasing.Vincent Daniel said CoreWeave needs to continuously invest large amounts of capital to purchase high-priced AI chips. Based on its assessment of the company's 2027 free cash flow gap and balance sheet leverage, the company may need to raise tens of billions of dollars in new funding on favorable terms. Seawolf Capital says its short thesis is focused on capital availability and cost, not a bearish view on the overall AI trade. (Business Insider)
AI infrastructure startup Fireworks AI is in preliminary talks for a new funding round, targeting a valuation of $30 billion to $40 billion, a potential increase of up to 10x from its $4 billion Series C valuation in October 2025. The negotiations are still at an early stage, and the target valuation may change. The company declined to comment, and the report did not disclose the size of the round.Fireworks AI was founded in 2022 by engineers from Meta's open-source AI framework PyTorch team, and provides enterprises with services to customize and deploy open-source models based on their own data. In July 2026, the company announced the completion of a $1.505 billion Series D at a valuation of $17.5 billion, saying its annualized revenue had surpassed $1 billion and its daily token processing volume had grown from 15 trillion at the time of its previous funding round to more than 40 trillion. If the proposed valuation reaches $40 billion, it would be equivalent to roughly 40 times its previously disclosed annualized revenue. (Business Insider)
According to Crowdfund Insider, the Independent Community Bankers of America (ICBA) filed a lawsuit on October 2 in the U.S. District Court for the District of Columbia, accusing the Office of the Comptroller of the Currency (OCC) of relaxing national bank charter rules, thereby allowing cryptocurrency companies to enter the banking system without assuming the same regulatory obligations as traditional banks. The ICBA is seeking a court order to vacate the OCC's National Bank Charter Rules issued in March 2026 and related prior interpretive documents, and to invalidate the conditional national trust bank charter granted to digital asset custody firm Protego Holdings. The complaint states that the current U.S. administration has approved or conditionally approved 21 national trust banks, with at least 13 being cryptocurrency enterprises. ICBA argues that these institutions do not need to comply with certain regulatory requirements applicable to traditional banks, such as capital, liquidity, and deposit insurance mandates, yet are permitted to operate nationwide using a federal charter, creating unfair competition. The ICBA also warned that some crypto trust banks lack adequate risk management and independent oversight mechanisms, potentially posing risks to the financial system. The OCC has currently declined to comment on the lawsuit.
According to Business Insider, Oracle Co-CEO Magurk acknowledged that the company had not yet found a way to effectively leverage generative AI across the entire workforce last year. The turning point came in April and May this year, when Oracle deployed ChatGPT Enterprise and Codex, achieving an adoption rate of 80% within three months. Previously, Oracle had already invested billions of dollars to help other enterprises run AI.
According to Business Insider, Waymo founder Sebastian Thrun announced the founding of new robotics startup Dulo at the San Francisco robotics conference Actuate; the company is currently still in stealth mode. According to a webpage hosted by Stanford University, Dulo is dedicated to building a "foundation model for hardware design," with the goal of achieving "hyper-fast manufacturing." The team includes core talent from Waymo, Google Brain, and the Stanford Artificial Intelligence Laboratory (SAIL). Thrun did not disclose funding details, product details, or launch timeline. Notably, in the first quarter of 2026, financing in the physical AI sector reached a record $16.3 billion.
Microsoft Excel's COPILOT function will cease support on September 14. This feature allows users to describe requirements in natural language and invoke Copilot to generate results. It was tested for Frontier and Insider users in August last year and was originally planned to launch in January 2027. Microsoft decided to deprecate it because Copilot already has multiple interaction entry points, such as floating action buttons and sidebars, and does not recommend users use this function for numerical calculations.
Odaily News – Bitcoin miner MARA Holdings disclosed in its latest quarterly SEC filing that it has pledged 18,750 BTC as collateral for two Bitcoin-backed loans, totaling $750 million in principal.Among these, financing provided by Coinbase Credit includes a refinancing of the original $150 million credit facility plus an additional $300 million in new funds; Two Prime Lending separately provided a $300 million loan. Both loans have been fully drawn, with a combined financing cost of approximately 7.56%, primarily maturing in August 2028.The pledged 18,750 BTC were valued at approximately $1.2 billion at the time of the transaction. If a decline in Bitcoin's price pushes the collateral ratio below the agreed level, MARA could face margin call requirements; otherwise, the related BTC may be subject to liquidation risk.The new funds will mainly be used for general corporate purposes and to support MARA's acquisition of Long Ridge Energy & Power. The transaction has an enterprise value of approximately $1.5 billion. Long Ridge owns a natural gas power plant in Ohio, USA, with an expected installed capacity of 505 MW, along with over 1,600 acres of industrial land. MARA plans to further develop the site into a base for Bitcoin mining, AI, and high-performance computing infrastructure. (Crowdfund Insider)
Odaily News: AI software development startup Lovable has announced the completion of a $400 million Series C funding round, led by Menlo Ventures, with Scaleup Europe Fund, managed by EQT, co-leading. The company's valuation now stands at $13.3 billion, doubling from the $6.6 billion valuation at its December funding round. Lovable co-founder and CEO Anton Osika stated that the company's annual recurring revenue has nearly tripled since December. In March, Lovable disclosed that its annual recurring revenue had reached $400 million, up from $300 million a month earlier and $200 million at the end of 2025. Lovable helps users build software through natural language prompts. The company says that since its launch in November 2024, over 60 million projects have been created on the platform. (Business Insider)
"1011 Insider Whale" representative Garrett Jin released a weekly analysis stating that while he previously suggested gradually positioning in memory chips and buying on dips, the market did not experience the expected pullback. He has sold half of his previous rebound positions during the surge, not because the investment logic has changed, but due to concerns regarding the capital structure driving the rise, stating, "This looks more like a short squeeze than a final confirmation of fundamentals by the market." Rapid capital covering short positions can create short-term gains for memory chip stocks like SK Hynix, but cannot sustain the trend alone. Risks associated with Korean leveraged ETFs have not been fully released, but the decline in asset size is mainly due to NAV shrinkage rather than investor exit. Currently, cumulative net subscriptions for related financial products remain at historic highs and have not turned negative. Garrett Jin emphasized that the decline in Korean leveraged ETF size does not indicate market bearishness on memory demand. SK Hynix's 2026 capacity is already sold out, and Micron's orders are covered until 2028, with demand remaining strong through the second half of 2027. However, the memory industry is essentially still cyclical. Stock prices have already surged by hundreds of percentage points in advance, and cyclical stocks are typically difficult to sustain long-term growth driven solely by valuation expansion. The current market is entering a new phase of the AI capital expenditure cycle, shifting from "rewarding investment" to "evaluating investment returns." Regarding Bitcoin, Garrett Jin stated it continues to meet the bottoming conditions established since the July lows, and he currently maintains the position view established near $60,000.
Odaily Odaily News: AI personal assistant startup Pally has announced the completion of a $5.2 million funding round, led by Cyber Fund and Y Combinator, with participation from Pioneer Fund, Founders Inc, 468 Capital, and angel investors. The company is valued at $30 million and primarily provides AI personal assistant services through an SMS interface. Pally was launched in 2025, with its latest version released in June, and can sync with platforms such as Gmail, Outlook, Slack, Granola, and Notion. After user authorization, Pally can book flights, manage inboxes, reply to messages, and reserve restaurant tables. Pally uses Anthropic's Claude, OpenAI's ChatGPT, as well as open-source models such as Kimi K3 and GLM 5.2. Co-founder Haz Hubble stated that the company will not sell user data or use related data to train models. (Business Insider)
Odaily News: OpenAI has issued a statement responding to Apple's previously filed trade secret lawsuit, calling Apple's allegations "hasty, aggressive, and factually flawed," and released email records as supporting evidence. OpenAI stated that Apple previously claimed it had contacted the company in February and received no response, but in reality, Apple's external counsel had sent the email to the wrong recipient due to a name mix-up. Additionally, Apple also acknowledged that it had not engaged in any relevant communication with OpenAI's General Counsel.Apple previously accused OpenAI of obtaining confidential information through former Apple employees Chang Liu and Tang Tan. OpenAI denied the allegations and stated that Apple employees proactively sought advice from Liu on documents and technical issues after his departure, because Apple had failed to promptly revoke the departed employees' system access. (Business Insider)
According to Politico, the U.S. House of Representatives passed a bill on Wednesday aimed at restricting members of Congress and their families from trading stocks. However, the bill faced division within the Democratic Party, as some Democrats argued it lacked sufficient strength. The legislation, named the "Stop Insider Trading Act," is the first congressional stock trading ban bill to be voted on by the full House of Representatives. It ultimately passed with a vote of 232 to 198, with 13 Democratic lawmakers voting in favor. Among the total 93 lawmakers who co-sponsored the bill, only two were Democrats. Another, more restrictive bill—which would require lawmakers and their families to sell stocks they currently hold—garnered broader bipartisan support but failed to reach a full House vote. Most Democrats believe the passed measure is insufficient because it does not include a mandate to divest existing holdings. The bill will now be sent to the Senate for consideration. (Jinshi)
amid growing insider trading concerns surrounding prediction markets, Goldman Sachs has prohibited its employees from trading prediction market contracts related to the bank's own events, elections, financial markets, macroeconomic data, and geopolitics. Financial institutions such as Morgan Stanley, JPMorgan Chase, and Bank of America are also formulating or updating relevant policies. Bank of America, in particular, has begun clarifying prohibited practices in prediction market trading to its employees.Previously, the U.S. Commodity Futures Trading Commission (CFTC) and the Department of Justice accused a Google employee of using non-public information to trade "Search of the Year" related contracts on Polymarket, profiting approximately $1.2 million. Legal experts note that the CFTC still lacks well-established case law in enforcing insider trading rules for prediction markets, and the wide variety of prediction market contracts further complicates regulatory oversight.Currently, Kalshi and Polymarket have respectively launched employment verification tools and collaborated with Chainalysis and Palantir to monitor suspicious trading activities. (CNBC)
According to the UK’s Financial Times, Tencent is set to launch an embedded AI agent within WeChat. Sources familiar with the matter revealed that Tencent is currently testing a prototype of this AI agent, which can assist users in performing various tasks directly inside WeChat. The company plans to initiate the regulatory approval process required before launch as early as this month. Once regulatory review is complete, Tencent will first conduct a gray-release test with a small group of external users, followed by a phased, gradual rollout. The official launch date has yet to be determined. A person who viewed an early product demonstration said users need only swipe right from WeChat’s main interface to summon the AI agent’s chat window. Sources indicated Tencent has designated this project as its top strategic priority, with management focusing intensely on refining details—yet scaling up to full deployment remains hampered by insufficient computing power supply. Internally, Tencent has preliminarily estimated the cost investment to be extremely high, and it remains unclear whether sufficient revenue can be generated in the short term to offset these costs.
Odaily报道, “BTC OG insider whale” Garrett Jin has released his “Weekly Market Strategy Signal.” In his analysis, he points out that the current geopolitical situation and the trajectory of the US dollar are deadlocked: despite US strikes on Iranian-related targets, tensions in the Strait of Hormuz remain unresolved. Although US Secretary of State Rubio signaled “positive news,” the peace agreement proposed by Iran has already been vetoed by the White House.Long-term US Treasury yields continue to hover in the 5.07% – 5.18% range, reaching their highest levels in 19 years. The S&P 500 index briefly hit a new high before quickly pulling back. Garrett Jin believes that a single positive or negative catalyst is insufficient to change the market landscape. Only when at least two of the three key factors—the credit environment, Federal Reserve policy, and geopolitical conditions—converge can the market experience a substantial shift.On another front, capital expenditure in the AI sector is accelerating its shift from the United States to Asia. ByteDance plans to increase its capital expenditure to as high as $70 billion this year, while Tencent and Alibaba are also ramping up their investments. Competition in the AI arena has now escalated to the level of national competition.
According to WIRED, Michael Selig, Chairman of the U.S. Commodity Futures Trading Commission (CFTC), stated that the agency is leveraging artificial intelligence to investigate insider trading on prediction markets such as Polymarket. Over the past year, multiple traders on Polymarket are suspected of using non-public information to place early bets on geopolitical events—including Venezuela’s surprise military action and the Iran war—and reaped substantial profits, drawing widespread attention. Previously, a U.S. Special Forces soldier was arrested for allegedly profiting from betting on the Maduro arrest incident on Polymarket using classified intelligence—marking the first criminal insider trading case involving a prediction market in the United States.
: Galaxy Research Head of Research Alex Thorn stated that the U.S. Senate Banking Committee has released the first updated complete draft of the CLARITY Act since January. The new draft features significant adjustments in several key chapters, including:A substantial rewrite of Chapter I concerning definitions and the scope of the U.S. Securities and Exchange Commission (SEC) authority; the addition of Section 109 on insider trading; an update in Chapter II changing "common control" to "coordinated control"; a rewrite of Section 301 to further clarify the regulatory boundary between DeFi and CeFi; an update to Section 404 incorporating the compromise proposal from Tillis and Alsobrooks; adjustments to Section 505 narrowing the scope of SEC authority limitations in the tokenization field; and a restructuring of the bankruptcy and insolvency framework in Sections 701 and 702. Additionally, Section 904 is a new addition, namely the "Build Now Act."Alex Thorn also noted that the developer protection provisions in the Blockchain Regulatory Certainty Act, found in Section 604, remain largely intact with only minor modifications, without weakening their core protections.
On-chain investigator ZachXBT has announced a $10,000 bounty for information regarding market makers involved in LAB’s spot trading on Bitget and perpetual futures trading on Bybit, Binance, and OKX—including passport details, identity verification documents, or insider information such as contract agreements and chat logs—targeting LAB’s founder (@vsadkovv). ZachXBT stated that these actors are further damaging the industry’s reputation and must not escape accountability.
Odaily News: Garrett Jin, representative of the "BTC OG Insider Whale," published an analytical article titled "A Painted Ceasefire," warning crypto traders not to be lulled by the surface-level market trends. While the market appears stable, underlying risks are continuously building. He pointed out that following Trump’s visit to China, the window for a US-Iran military conflict could reopen at any time. This current ceasefire is merely a delay in confrontation, not the beginning of favorable developments. Market sentiment is currently highly optimistic, with Saudi Arabia and Iran reaching a cooperation memorandum, impressive earnings reports from tech companies, rising South Korean stocks, and Bitcoin approaching the $82,000-$83,000 range. However, macro-level hidden dangers are gradually emerging: a liquidity drought in large corporate transactions, airline bankruptcies, banks provisioning for potential war losses in advance, and Berkshire Hathaway’s cash reserves hitting a new all-time high. Garrett Jin predicts that late May could be a key turning point. If tech giants continue to exceed performance expectations, the risk window may be delayed until the July earnings season. (Garrettsignal)