The information flow is too fast, and in-depth analytical articles are easily drowned out by hot topics. The "Weekly Editor's Picks" column extracts these content with judgmental value from the vast amount of information, helping you filter out noise, retain insights, and bring inspiration.

Macroeconomic Situation

Bridgewater Founder Ray Dalio: My Deep Thoughts on the Results of the U.S. Midterm Elections

The election results have only changed the specific individuals responsible for handling issues, but they do not change the objective realities that the U.S. faces, such as the enormous debt, wealth disparity, competition among major powers, and challenges in climate and technology. Faced with temporary fiscal appropriations due in December and the federal debt ceiling approaching in the spring of 2027, the polarization and confrontation between the two parties not only make it difficult to bridge the deficit but may also undermine the credit foundation of U.S. debt as the global core collateral.

AI & Storage

Bank of America: The Chip Stock Sell-Off May Bottom Out in Early 2027, Stock Prices Typically Lead Fundamentals by 6-9 Months

The magnitude of this downturn has exceeded the historical average, but its duration is not even half of the historical mean. Concerns about the slowdown in AI capital expenditures have led to a non-discriminatory sell-off of chip stocks.

This “indiscriminate selling” may conclude in early 2027. In the past few cycles, the decline of the SOX index has typically led to an actual decline in semiconductor sales by 6-9 months, followed by an average rebound of about 42% once earnings expectations are fully digested.

Surging 8% After Earnings, Can CoreWeave Avoid Elon Musk's Death Predictions?

CoreWeave delivered its third-quarter financial report for 2026, which is regarded as a "life and death test" for the entire new cloud track. The impressive data directly counters the "computing power going to waste" theory, but the debt pressure remains enormous.

Prediction Market

predict.fun Restarts TGE, Is There Still an Opportunity After the "Collapse Start"?

Policy and Stablecoins

Democrats Regain Control of Congress, Will Heavy-Handed Crypto Investigations Follow?

U.S. Democratic Senator Richard Blumenthal has issued a new round of letters to Binance, Tether, World Liberty Financial (WLFI), and Fight Fight Fight LLC (FFF), which is behind the TRUMP token, demanding that the four companies voluntarily submit the previously requested investigation records and information before January 4, 2027.

The Democratic Party's investigations have touched on multiple connections between the crypto industry and U.S. politics, from exchange sanctions compliance to stablecoin companies' lobbying expenditures, to the token business of the president’s family. In the new Congress, the crypto industry must strive for clearer rules while also facing stricter accountability.

Countdown to the "GENIUS Act": Of the Top Ten Dollar Stablecoins, Only USDC and PYUSD Survive

The "GENIUS Act" will officially take effect on January 18, 2027. According to this act, "payment stablecoins" issued in the U.S. or offered to U.S. users must use highly liquid assets for full reserves — U.S. Treasury bonds with remaining maturities not exceeding 93 days, overnight reverse repurchase agreements backed by treasury bonds, bank deposits, and other qualified assets.

However, based on circulation, among the ten largest dollar stablecoins in the U.S., only two currently meet the reserve structure requirements of GENIUS, accounting for 26% of the total circulation. Another two are expected to comply soon, making up 2%. The remaining 72% do not meet the standard: 65% are stablecoins issued offshore, and 7% are crypto-collateralized.

CeFi & DeFi

DAT Hit Again: MSCI Excludes Three Treasury Companies, How Long Can Financing to Buy Coins Last?

MSCI announced the results of the index review for November 2026, excluding Strategy, Metaplanet, and the treasury company Upexi from the SOL ecosystem, with related adjustments taking effect after the market closes on November 30.

The three treasury companies face passive adjustment selling pressure. Among them, the potential selling pressure from Strategy is the most concerning. The company disclosed in a previous consultation response that a fund tracking the MSCI Global Investable Market Index (GIMI) holds about 13 million shares of MSTR, accounting for 3.1% of its basic equity. Based on the closing price of $121.07 on November 10, the market value of this stock is approximately $1.57 billion.

Whether financing to buy coins can continue depends on how much return can be brought to shareholders through increased holdings. If the company holds more and more crypto assets, but the assets corresponding to each share for shareholders have not increased, it will be challenging to attract investors in the next round of financing.

The New York Stock Exchange Uses Avalanche to Settle Tokenized Stocks, But AVAX Might Not Get a Slice

The NYSE's 7×24 small times tokenized securities trading platform will only use Avalanche to settle tokenized stocks, and regulatory approval must be obtained before the Q4 launch.

Neither Ava Labs’ announcement nor the NYSE’s statement mentioned the use of AVAX tokens in settlement, fees, or staking. According to the mechanisms of the Avalanche customized L1, AVAX's direct revenue comes only from validator continuation fees. Settlement activities on the NYSE's custom chain do not fall within AVAX's capture range.

Also recommended: "The Battle of Long Tail Markets: Is Hyperliquid Losing Its Edge?"

Airdrop Opportunities and Interaction Guide

Popular Interaction Collection | Flop Labs Preparation for Testnet; Launch of Points System on 42.space (November 13)

Ethereum and Scaling

Vitalik "Exposes" the Destruction Effect, ETH Value Narrative Shifts

The support of transaction fee destruction for valuation has limitations, and excessive pursuit of destruction may also harm the network's decentralization and resistance to capture, while value storage is more in line with Ethereum's advantages in security, privacy, and stability.

The EIP-1559 and its destruction mechanism should still be retained. Ethereum should focus more on ETH's value storage attributes.

When Bitmine Stops Buying Coins, How Much Net Buying Power Will ETH Lose?

Bitmine's total holdings officially climbed to 6,070,092 coins, valued at approximately $13.6 billion, accounting for 4.97% of Ethereum's current total supply. According to official figures, this ratio has reached 99% of its strategic goal of "holding 5% of the total supply of ETH."

Once this final 1% purchase is completed, Bitmine's ETH buying actions will be paused, which have continued for over a year.

Looking solely at the numbers, this disappearance of net buying power has a massive impact on ETH. However, Bitmine's "violent accumulation period" has long passed, and in recent months, its actual impact on ETH prices has been very limited. The secondary market has already adapted to and digested life without Bitmine's net buying power amid fluctuations over the past few months.

Testing Employee Loyalty with "Meme Culture"? The Ethereum Foundation Really Made a Big Deal This Time

Former employee Nixo has sued the Ethereum Foundation, Vitalik, and others in a federal court in Colorado. She claims that she was dismissed by the Ethereum Foundation thirteen days after informing management of her cancer diagnosis in writing and twelve days after participating in organizing a "joint petition" among foundation employees. What pushed this matter into the spotlight was a "harakiri permit" that appeared in the foundation's mission statement, which not all employees accepted.

Beyond APY: Say Goodbye to Black Box Trust, Reassess the Security Logic of ETH Staking

Multi-Ecosystem

Elysium Mainnet Launch Tonight, Which Issuing Platforms Are Worth Paying Attention To?

Security

The Rug History in the Crypto Circle Just Got a New Colorful Chapter

The long-silent DePIN project Puffpaw suddenly announced token issuance and airdrops, deploying extremely thin (about tens of thousands of dollars) liquidity pools not only on on-chain DEX but also attaching a linear unlocking period of up to 156 weeks (approximately 3 years). The team manipulates the coin price with high control and makes bets on their own FDV in the prediction market, completing the harvest. Polymarket has yet to settle, and the community continues to raise objections.

Weekly Hot Topics Review

NVIDIA's board initiates an independent investigation, Jensen Huang admits to an extramarital affair and apologizes to employees;

NVIDIA announces CEO Jensen Huang's resignation, CFO Colette Kress appointed as interim CEO;

Supplemental Reading: "Who Can Officially Succeed Jensen Huang?","Who Is Hunting Jensen Huang?","Removing Jensen Huang, Can $158 NVIDIA Really "Bottom Out"?","SemiAnalysis Research Report: The Post-Jensen Huang Era at NVIDIA".

Policy and Macroeconomic Market

U.S. October CPI significantly exceeded expectations, reaching the substantial interest rate hike threshold mentioned by Waller;

U.S. Senator Richard Blumenthal has requested Binance, Tether, etc. to submit investigation records by January 4, 2027;

U.S. Department of Justice: Over $2.7 billion in Binance stolen assets have been frozen, with over $1.2 billion approved for seizure;

Hong Kong establishes a task force to provide guidance on crypto asset declarations and taxation queries and technical support;

Opinions and Voices

Federal Reserve Logan: The Federal Reserve needs to raise interest rates at least two more times, each by 25 basis points;

Trump expresses support for Jensen Huang to continue as NVIDIA CEO;

Megaspeed responds to the Jensen Huang incident: Hires a U.S. law firm for a comprehensive inventory of GPUs in cooperation with the BIS audit;

Wall Street interprets Jensen Huang's resignation: The consensus is "No one can replace him," the real crisis lies in the AI ecosystem's funding chain;

Goldman Sachs interprets hedge fund positions: "Surrender-style liquidation," the largest loss since the pandemic;

Goldman Sachs: The U.S. stock market bull run in 2027 has one last struggle, but the following situation resembles the eve of the 2000 bubble burst;

Bloomberg: The Trump dividend is retreating, and the crypto industry is beginning to seek bipartisan support for long-term development;

Bloomberg: Bitcoin fell below $70,000, inflation and regulatory pressures compounded withdrawals from institutions;

Hong Hao discusses Bitcoin, gold, and AI: The faith in gold will not change, and AI is likely to fall another half;

Institutions, Large Companies, and Leading Projects

Anthropic releases the strongest new model;

Anthropic plans to issue 825 million shares in its initial public offering, with an indicative price range of $70 to $78 per share (Roadshow PPT Interpretation);

Anthropic initial public offering (IPO) has been fully subscribed;

Seven co-founders of Anthropic plan to cash out a total of $1.75 billion in the IPO;

Anthropic investors pre-sell IPO stock quotas at a 3% to 5% premium;

OKXICE is about to launch all-weather tokenized stock trading;

Data

BTC drops to $68,000, hitting a three-month low;

S&P 500 records the largest single-day gain in seven months, no structural reversal in the AI investment cycle;

U.S. data center construction halt intensifies: At least 17 projects were halted in Q3, reaching the highest value since 2024;

Security

NEAR AI internal systems were accessed without authorization, cloud inference services have been suspended;

Injective network stops block production;

Binance hackers laundered money through self-created meme coins, approximately $430,000 of stolen funds has been transferred on the NEAR chain...

Attached is the "Weekly Editor's Picks" series link. See you next time~

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