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According to the Wall Street Journal, Nick Timiraos, known as the "mouthpiece of the Federal Reserve," wrote that after the third consecutive strong inflation report was released, a rate hike by the Federal Reserve in December is almost certain. Market focus is shifting to the magnitude of the rate hike and the subsequent pace, including a 25 basis point hike at each meeting, a one-time hike of 50 basis points, or signaling multiple consecutive hikes of 25 basis points.Nick Timiraos pointed out that the Federal Reserve will hold a policy meeting from December 8 to 9, and the bigger question is whether this rate hike is a moderate adjustment envisioned by several officials, with two to three more hikes, or the beginning of a sustained effort to suppress the economy and lower inflation.Previously, Federal Reserve Governor Waller, who supported maintaining interest rates last week, stated that if the core price increase in October reaches about 0.3% month-over-month, the Federal Reserve should consider a 50 basis point hike in December, and the latest published data happens to align with this scenario. Dallas Federal Reserve President Logan also hinted after the data release that, given the current inflation pressures, it may be necessary to accelerate the pace of rate hikes. The relevant tactical choices are usually decided by the Federal Reserve Chair.

According to Cointelegraph, the U.S. Securities and Exchange Commission (SEC) initiated 348 enforcement actions in fiscal year 2026, a decrease of 23.7% from 456 in the previous fiscal year, marking the lowest number since 1991. The enforcement results for that year included cases involving alleged cryptocurrency fraud and failures in the audit of FTX.The SEC stated that it has charged three so-called cryptocurrency trading platforms and four investment clubs for participating in a scheme that allegedly defrauded investors of at least $14 million; in another case, the founder of a Bitcoin mining company was accused of misappropriating $48.5 million, with the company having previously raised over $95.6 million from approximately 6,400 investors. In April, the SEC reached a settlement with Francis Decker, a partner at Prager Metis, responsible for the audit of FTX, regarding the failure to meet professional auditing standards. Fiscal year 2026 was the first full fiscal year under SEC Chairman Paul Atkins, with independent enforcement actions decreasing from 303 in the previous year to 235.

Alibaba announced that the new generation of the Qwen large model, Qwen4, has begun open testing, with the flagship preview version Qwen4-Max launched. This model has been integrated with Alibaba's Token Plan, Qwen Office, Qoder, Qwen App, and QwenStudio.This generation focuses on upgrading complex programming, front-end design, and agent capabilities. Alibaba also emphasizes professional office and software operations, hoping the model can autonomously use tools and complete multi-step tasks.Qwen4 has been in a warm-up phase for several months. In September of this year, Alibaba announced that the Qwen4 based on the new architecture is in training. The earlier released Qwen3.8-Flash-Next has already opened an experimental version of the new architecture. According to the previously showcased product plan, the Qwen4 series also includes Flash, Plus, and a 27B version aimed at local deployment.

Binance's Chief Security Officer Jimmy Su stated during a fireside chat on Binance X Space that Binance is hiring external security experts to conduct a comprehensive independent review of the security incident that occurred on October 29, in order to verify the conclusions of the internal investigation and provide improvement suggestions.At the same time, Binance is collaborating with leading AI companies and security firms to establish a security research fund, focusing on researching security threats related to blockchain and AI. In the future, internal AI tools and development environments will be managed according to critical infrastructure standards.Regarding the previous security incident, Jimmy Su explained that the transaction authorization used by the attackers exists on-chain and does not go through the Binance withdrawal system. Therefore, suspending withdrawals cannot prevent the related funds from being transferred; it must be revoked through a new on-chain transaction.Due to Binance's hot wallet using multi-party computation (MPC) technology, there is no single private key that can be directly used to revoke authorization. The team needed to temporarily formulate a revocation process, which took several hours to control the situation.

NeoSoul and Brevis announced a technical collaboration to explore how to protect sensitive data in AI trading.As AI Agents take on more specific trading tasks, users' trading methods, preferences, and related data will also enter the product workflow. For individual users and platforms, clear data usage boundaries and explicit computational verification methods are important considerations in the design of such products.Brevis is a verifiable computing platform based on zero-knowledge proofs, with related technology supporting the processing of historical data from the supported chain, executing specified computations, and verifying computation results through proofs. This collaborative exploration will combine the practical needs of AI trading to study applicable scenarios for the relevant technology.NeoSoul continues to advance product development around Agentic Trading, refining the AI trading experience for individual users through NeoTrade, and promoting capability openness for platforms and other Agents. The collaboration with Brevis is a progress in NeoSoul's expansion of professional technical cooperation in this direction.NeoSoul's co-founder stated: "In the future, more and more AI Agents will directly participate in financial markets on behalf of individuals and platforms, and financial infrastructure needs to adapt to a new batch of market participants. Protecting trading strategies and computational verification will become crucial issues that restrict the scaling of Agentic Trading. Our collaboration with Brevis aims to provide the necessary technical foundation for the development of this trend."

According to Ethereum co-founder Vitalik Buterin, he believes that instead of positioning ETH as a fee-burning token, more emphasis should be placed on its value storage function.Vitalik stated that the role of the fee-burning narrative is not as strong as it seems, and optimizing around this goal may struggle to balance decentralization and resistance to capture; positioning it as a value storage aligns with Ethereum's advantages such as decentralization. He believes that the stability brought by these advantages has practical value for asset holders and will also be valued in an era of transformation brought by AI.He supports retaining EIP-1559 and its burning mechanism but believes that even if fee burning remains below the breakeven level of 10% in the long term, there is no need to feel disappointed, as the value of ETH comes from other aspects.

Next week, the U.S. October CPI, PPI, and speeches from several Federal Reserve officials will become the market focus. Previously, the U.S. added 165,000 non-farm jobs in October, and the unemployment rate fell to 4.1%, raising expectations for interest rate hikes. LSEG data shows that the implied probability of a Federal Reserve rate hike in December has risen to about 80%, with the market expecting that this cycle may see two more rate hikes, each by 25 basis points.In terms of inflation data, the U.S. October CPI will be released at 21:30 Beijing time on November 10, and the PPI will be released at 21:30 on November 13. ING expects that the overall CPI and core CPI will both rise by 0.3% month-on-month, which is sufficient to support a high probability of a rate hike in December. Monex's macro research director Nick Rees believes that unless the October CPI is significantly lower than expected, or the November employment report released on December 4 shows a clear weakness, the market is expected to have almost fully priced in the 25 basis point rate hike by the time of next month's meeting. Officials such as Waller, Bowman, Barr, and Jefferson will speak or participate in discussions during the week.According to Eastern Time, CoreWeave will release its third-quarter results after the market closes on November 10, Nebius will release its third-quarter results before the market opens on November 12, and Cisco will release its first-quarter results for fiscal year 2027 after the market closes on November 12. Anthropic plans to officially launch its IPO roadshow as early as the week of November 9. Geopolitically, the U.S., Russia, and Ukraine plan to hold working-level negotiations in Abu Dhabi from November 10 to 11. The head of the Ukrainian president's office, Andriy Yermak, stated that he does not expect breakthrough results from this meeting but believes that the resumption of face-to-face talks itself is progress.

According to Investor's Business Daily, in the market volatility following the U.S. midterm elections, 88% of the S&P 500 index constituents have reported earnings, with 84% of earnings per share exceeding consensus expectations. The report suggests that the market will focus on inflation data and a new round of corporate earnings next week.Cisco's upcoming earnings report will reflect its progress toward achieving its annual goal of $7.5 billion in AI infrastructure orders; cloud computing company CoreWeave will also release its earnings report, with investors paying attention to its AI data center construction and order backlog situation. The report notes that emerging cloud service providers like CoreWeave are facing rising financing costs and debt financing pressures recently.

Arbitrum posted on platform X that a new perpetual market, Internet Meltdown, has been launched on Arbitrum, where users can trade internet security risks through @perpdotcity.

Solana co-founder Anatoly Yakovenko predicts that the Democratic Party may turn its attention to the cryptocurrency industry, as no one really wants to stop the construction of data centers.

According to trader Ansem, Zcash has recently been one of the stronger assets in the cryptocurrency market. If the market experiences a deeper correction, he will pay attention to whether ZEC can maintain its resilience.He believes that as the cryptocurrency industry faces more political and regulatory scrutiny, the narrative around privacy may become increasingly important. Privacy features, concerns about quantum computing, and market interest in transparent blockchain alternatives have drawn his attention to ZEC.

Some observers of the Federal Reserve believe that Trump's strong opposition from voters in the midterm elections may alleviate the political pressure faced by Federal Reserve Chair Waller, allowing him to reduce political interference and focus on controlling inflation. Voters have listed the cost of living as one of their top concerns, fundamentally changing the political landscape surrounding the Federal Reserve.Since Trump's re-election in 2024, he has been exerting pressure on the Federal Reserve and its interest rate decisions, repeatedly calling for rate cuts, supporting an unprecedented criminal investigation into the renovation of the Federal Reserve's office building, and attempting to remove a sitting Federal Reserve governor. Against this backdrop, Trump chose Waller to lead the Federal Reserve in May of this year, after Waller had unusually shifted to support rate cuts. This has raised concerns among Democrats, who fear that the new chair may have agreed to adjust monetary policy according to the president's wishes.Claudia Sahm, Chief Economist at New Century Advisors, stated that in fact, if the election results prompt Trump to end the conflict with Iran and abandon further tariff increases, the Federal Reserve may not need to raise interest rates again at all.

Ethereum co-founder Vitalik Buterin stated in an interview that there has been a concerning trend in the industry's security situation over the past period. Security vulnerabilities and attack incidents at the smart contract level are decreasing, while most major hacking attacks that occurred in the past year and a half have been more focused on the user interface layer and centralized components. Hacking attacks are still ongoing, but the underlying core parts that truly need to be secured are actually improving in security, and the range of infrastructure that can provide high security guarantees is also expanding.Vitalik believes that more and more people have realized that the top priority in the next two years is not to achieve victory, but to ensure their survival, and the entire industry is thinking about how to achieve this goal. He expects that relevant institutions, large trading platforms, custodians, and other financial institutions will also take action as soon as possible. He believes that Binance's previous launch of BNB Chain was a correct decision, as users deploying their business on-chain and executing related operations through smart contracts can also benefit from the high security guarantees provided by on-chain infrastructure, and more institutions will develop in this direction in the future.Vitalik stated that the only real solution is to effectively raise the security level of the entire industry. The range of operations that can be completed securely is expanding, but if someone does not pay attention to security, the efficiency gains may ultimately be used to conduct more and more aggressive business, rather than further enhancing security. He anticipates that if security issues develop to a certain extent, regulatory agencies and industry leaders in various countries will begin to require companies to take on more responsibility and adopt more prudent business strategies. The Ethereum Foundation has been providing support, including writing relevant code and tools, providing quantum-safe signature-related code, and supporting the construction of wallets protected by quantum-safe technology, but users still need to actively be aware of risks and choose to enable these security measures.

On November 4, NASDAQ-listed company SVRN, Inc. (Ticker: SVRN) announced the appointment of Patrick O'Kain as Chief Operating Officer, effective November 3. O'Kain will be responsible for operations, product strategy, and corporate development, including the integration of acquired businesses. David Schwed, who has served as Chief Operating Officer since October 2025, will transition to Senior Advisor starting January 1, 2027, and will continue to advise management on technology and security.O'Kain has over 20 years of experience in venture capital, institutional consulting, federal law enforcement, and national security. He previously served as a General Partner at the digital asset investment firm Borderless Capital, where he was responsible for building and managing the venture capital fund business, covering fundraising, investment, and operations. Earlier, he was involved in establishing and expanding KPMG's cryptocurrency consulting business, providing advisory services to banks, fintech companies, and other institutional clients, and worked alongside SVRN CEO Sal Ternullo. He served as a special agent for the U.S. Department of Justice, where he was involved in developing cryptocurrency investigation strategies and leading related investigations, starting his career in U.S. intelligence, and holds an MBA from Columbia Business School.SVRN was formerly OceanPal Inc., with business focused on NEAR Protocol, including managing NEAR-based digital asset reserves, promoting commercial adoption of NEAR products, and supporting, building, and acquiring related businesses. The announcement stated that over the past year, the company has expanded from managing digital asset reserves to operating critical NEAR infrastructure, participating in network governance, and completing its first acquisition of FastNEAR. Schwed played a foundational role in the company's transformation from OceanPal Inc. to SVRN, Inc. Sal Ternullo stated that he has worked with O'Kain at KPMG for many years and is confident that O'Kain is suited to drive the company's next phase of development.

According to Tech in Asia, Visa announced the establishment of six global capability centers at its new Solutions Center in Bayfront Oasis, Singapore, gathering over 1,500 professionals.These centers will focus on applying AI to agency-based commerce, digital currencies, stablecoins, programmable payments, wallets, alternative payment methods, cybersecurity, and quantum computing. Visa also stated plans to expand research, engineering, and innovation positions, with partners including DBS Bank, Nium, and StraitsX.The Singapore Economic Development Board stated that Visa's investment will create high-value job opportunities for Singaporeans. In addition, Visa has launched USDC settlement in the United States and stated that stablecoins can support faster cross-border payments and programmable currency.

On November 3, the Ethereum Layer 2 project Scroll released a protocol upgrade proposal on its official governance forum, aiming to transform the existing permissionless general-purpose L2 network into a permissioned dedicated network focused on privacy AI applications, and to migrate the SCR token to the Ethereum mainnet, while keeping the token supply and overall token economic model unchanged.Scroll stated that operating a general-purpose network makes it difficult to ensure sustained demand, while the underlying infrastructure still needs to bear maintenance costs. Therefore, it plans to establish new network demand around AI products such as Compass, CENO, and USX. According to growthepie data, the net profit on the Scroll chain is only about $42.50, a decrease of approximately 92% over the past year.

According to a report by Financial Associated Press, Apple Inc. will announce its fourth quarter financial report for the fiscal year 2026, ending in September, after the U.S. stock market closes on Monday. Investors will observe the early sales performance of the iPhone 18 Pro based on this report. At the fall launch event on September 10, Apple officially released the iPhone 18 Pro and iPhone 18 Pro Max, with starting prices of 9,999 yuan and 10,999 yuan, respectively. The two models began pre-orders on September 12 and officially went on sale on September 18.Apple's first foldable phone, the iPhone Duo, will start pre-orders on October 16 and officially go on sale on October 23, so it will not be included in the fourth quarter performance. However, the company may still disclose related demand information in the financial report. The conference call following this financial report will also be the first earnings call for the new CEO John Turnas after succeeding Tim Cook.According to a consensus of analysts compiled by the media, Apple's fourth quarter earnings per share are expected to be $2, with revenue expected to be $113.46 billion; in the same period last year, earnings per share were $1.85, and revenue was $102.46 billion. iPhone sales are expected to be $56.48 billion, a year-on-year increase of 15%; service revenue is expected to exceed $31.58 billion, Mac sales are expected to be $9.69 billion, and revenue from wearables and iPads is expected to be $8.99 billion and $6.83 billion, respectively. Last Friday, Apple regained its position as the world's most valuable company, with a market capitalization of $5.03 trillion, while Nvidia's closing market capitalization was $4.93 trillion.

According to Caixin, Liao Yijian, Co-CEO of HSBC Asia and the Middle East, announced that HSBC will establish a global AI research institute in Hong Kong, expected to begin operations in early 2027, initially focusing on AI application cases, blockchain technology, and post-quantum cryptography.He revealed that HSBC currently has a team of 150 AI specialists in Hong Kong, and the scale is expected to double in the next two to three years.

From November 2 to 8, global markets will welcome several events. The U.S. midterm elections, Apple and AMD earnings reports, and October non-farm payroll data will become the focus of market attention. The Bank of England, the Reserve Bank of Australia interest rate decisions, the results of the Israeli parliamentary elections, and the progress of the trilateral negotiations among Russia, the U.S., and Ukraine will also be closely watched. In the tech sector, Apple and AMD will release their latest earnings reports, serving as an important test after the confidence in AI trading has been impacted. Apple is expected to report revenues of about $113 billion, marking the first earnings report since the appointment of new CEO Tim Cook; AMD is expected to report revenues of about $13 billion, with attention on the progress of Helios cabinets and MI450 chips.Additionally, Qualcomm, Advanced Micro Devices, Coherent, Lumentum, and Berkshire Hathaway will also announce their performance. There are also reports that Marvell is negotiating to acquire Lumentum, with an announcement possible as soon as next week. Apple's smart access testing plan with Alibaba Qianwen will open on November 4. On November 3, the U.S. midterm elections will re-elect all 435 seats in the House of Representatives and 35 seats in the Senate, and the election results will affect the fiscal, tariff, and industrial policy advancement space of the Trump administration in the next two years.The final results of the Israeli parliamentary elections are expected to be announced on November 4, and the trilateral negotiations among Russia, the U.S., and Ukraine are scheduled to resume next week in Abu Dhabi. In terms of macro data, the U.S. October non-farm payroll report will be released, following a mere 29,000 new jobs added in September, with the market expecting an increase of 65,000 jobs in October. If the employment data performs strongly, it may further strengthen market expectations for a Federal Reserve rate hike in December and impact the U.S. dollar, U.S. Treasury bonds, and gold prices. China's October foreign exchange reserve data will also be released.