nex

Josh, the Vice President of Engineering for DeFi at Polymarket, announced on platform X that the new trading system Nex, rewritten in Rust, has opened for sandbox testing. The system has mirrored production orders in shadow mode over the past week to verify latency, load stability, and matching accuracy, and has not officially launched yet.The disclosed internal testing data shows that the order placement latency P99 has decreased from 1.55 seconds with the existing Central Limit Order Book (CLOB) to 3.76 milliseconds, but this metric does not represent end-to-end latency. The team plans to conduct 4 weeks of shadow testing, and if it runs well, it is expected to launch in mid-December; WebSocket improvements may be released earlier.

According to a report by South Korea's EToday, Democratic Party member Min Byeong-deok stated at a discussion meeting that the legislation for the "Basic Law on Digital Assets" should be completed by January 9 of next year to keep up with the implementation of the U.S. stablecoin system on January 18.He opposed allowing only consortiums with majority bank ownership to issue Korean won stablecoins, arguing that participation should be allowed as long as conditions such as 100% reserves and instant redemption are met. He also proposed the establishment of a presidential digital asset committee and suggested extending the crypto tax to 2029, allowing losses to be carried forward for three years.

According to Gate market data, the ChiNext Index fell by 3% during the day, the Shanghai Composite Index fell by 0.53%, the Shenzhen Component Index fell by 1.74%, and over 4,500 stocks in the entire market declined.

According to reports from Xinhua News Agency citing American media, senior Democratic Party officials in Congress have confirmed that after the Democratic Party officially takes control of Congress in January next year, several senior officials from the Trump administration, including Secretary of State Rubio, may become targets of investigations and impeachment.Senior Democratic members of the House of Representatives and the Senate have stated that they are considering launching investigations and holding congressional hearings, potentially initiating impeachment proceedings, with targets including Secretary of State Rubio, Secretary of Commerce Howard Lutnick, White House Chief of Staff Stephen Miller, and Border Affairs Director Tom Homan. Reports indicate that although the impeachment attempt against Secretary of Defense Hegseth was unsuccessful this week, the Democratic Party's oversight investigation plans extend far beyond just him.

The founder of Liebit Mining Pool, Jiang Zhuoer, posted on the X platform stating that BTC has fallen below the Fibonacci 50% retracement level of the previous upward trend ($72,600). The next level to watch is the 61.8% retracement level ($69,100), and it is necessary to observe whether BTC can rebound before falling to $70,000.In addition, he mentioned plans to look for opportunities to close the hedge short position established around $73,000 in BTC.

On November 12, at the opening ceremony of Baidu World 2026, Kunlun Chip, a subsidiary of Baidu, introduced its next product plans. The M100 has been launched as scheduled, and the M300 will be released next year.Among them, the M100 focuses on extreme cost performance; the flagship M300 has made comprehensive capability leaps in multiple dimensions such as computing power, storage, and connectivity. In addition, by 2028, multiple chips based on the new N architecture will also be launched to match differentiated application scenarios.Baidu founder Robin Li stated at the conference that the demand for AI computing power has shifted from being primarily training-focused to balancing both training and inference. The scaling of intelligent applications has driven a massive explosion in inference computing demand, "inference will become the main driving force for the long-term sustained growth of AI chips."

On November 12, at the Baidu World 2026 Conference, Baidu released the Tianchi 1024 card super node, which is planned to be launched next year. This super node uses optical engine technology to achieve full optical interconnection, supports collaboration of 1024 cards, with inter-card bandwidth increased by 3 times compared to the previous generation, training performance improved by 2.5 times, and inference performance enhanced by 3 times.The accompanying G3.5 KV Cache video memory acceleration cabinet can double the long context inference performance, reduce the first token waiting time by 90% in multi-turn dialogue scenarios, and increase overall throughput by 7 times. A single super node can support the training of large models with 50 trillion parameters, and can be scaled up to a cluster of 500,000 cards.This product was originally scheduled for release in 2028, but this announcement has moved the timeline forward by a year. On the same day, Baidu founder Robin Li revealed that the flagship Kunlun chip model M300 will also be launched next year.

Dunamu's Vice Chairman Kim Hyung-nyun stated at the Seoul Digital Asset Policy Conference that the stock tokens of South Korea's representative companies, Samsung Electronics and SK Hynix, can only be traded overseas. This situation is distressing. He also officially announced that Dunamu has completed the technical preparations for stock tokenization, and relevant services can be launched at any time once the regulatory system allows.In addition, the conference also discussed the legislative process of the "Basic Law on Digital Assets." South Korea's Democratic Party member Min Byung-deok advocated that the bill should be passed in the current regular National Assembly, no later than January 18 of next year. South Korea's People Power Party member Park Soo-min stated that legislation should not be rushed and called for a comprehensive allowance for institutions and legal entities to invest in crypto assets.

On November 12, Baidu founder Robin Li stated at the opening ceremony of Baidu World 2026 that the decade from 2016 to 2026 is the decade when artificial intelligence technology forms an independent technology stack, and the "Chip Cloud Model" four-layer architecture gradually takes shape during this period. He predicts that the next chapter of artificial intelligence is intelligent organizations, which differ from the current hierarchical system of AI-native organizational structures. "If artificial intelligence is the new electric power, then intelligent organizations are the new factories of the AI era, where true productivity occurs."Robin Li proposed the "Three Principles of Organizational Evolution": breaking down job boundaries to unleash organizational vitality; accumulating tacit knowledge to build organizational intelligence; designing closed-loop processes to promote organizational evolution. He believes that future jobs will not disappear but will converge, roughly divided into two categories: Builders responsible for creating new things, and Sellers responsible for interpersonal communication and trust-building.According to his disclosure, in the past year, the average daily active intelligent agents within Baidu grew from 5,000 to 37,000, with the number of effective tasks completed by intelligent agents per week increasing from 84,000 to over 1 million, and 4,300 Workspaces have been established, accumulating over 20,000 organizational Skills.

China's largest flash memory manufacturer Yangtze Memory Technologies last week reported the possibility of delaying its listing, but according to reports, the company is still advancing its initial public offering plan, aiming to be listed on the Shanghai Star Market as early as the first quarter of next year.Bloomberg reported on Wednesday (November 11) citing informed sources that the Wuhan-based Yangtze Memory Technologies is still pushing forward with its listing plan, striving for a listing on the Shanghai Stock Exchange Star Market as early as the first quarter of 2027. Reuters reported on November 4, citing internal memos and informed sources, that Yangtze Memory Technologies' listing plan might be delayed by several months, with expectations for a listing in the first half of next year, depending on market conditions. Bloomberg's latest report indicates that relevant work is still ongoing.Yangtze Memory Technologies entered the next stage of the listing review in September this year, planning to raise 33 billion yuan (approximately 6.3 billion Singapore dollars). The Shanghai Stock Exchange issued the first round of review inquiries to the company in early September, officially launching the listing review process.

According to Polymarket data, in the market "Who will be the next CEO of NVIDIA?", the current NVIDIA Vice President of Large Scale and High Performance Computing Ian Buck is currently in the lead with a 30% probability, followed by NVIDIA Executive Vice President and Chief Financial Officer Colette Kress at 21%, and the probability of Jensen Huang remaining the current CEO is 19%.Among the other options, Arm Holdings CEO Rene Haas currently has an 11% probability, NVIDIA Executive Vice President and Global Field Operations Head Jay Puri has 9%, AMD Chair and CEO Lisa Su has 3%, and NVIDIA Senior Director of Product and Technology Marketing for Physical AI Platform Madison Huang has 2%.

Elon Musk stated that SpaceX is expected to achieve actual usable computing power next year that is approximately equivalent to half of the global scale. He emphasized that "actual usable" is an important metric, and it is expected to take two months of continuous work to stabilize the large computing clusters, while other companies may need six months.

According to Cointelegraph, Brazilian cryptocurrency exchange Mercado Bitcoin announced that it plans to resume deposits and withdrawals in Brazilian Reais through Brazil's instant payment system Pix starting next week. This comes more than two weeks after the exchange's hot wallet was attacked, resulting in a loss of approximately 49 million dollars.Users can only withdraw to accounts under their own names, and the settlement earnings from fixed income products will also be credited. Cryptocurrency deposits and withdrawals are still suspended, and the exchange has not announced a specific date for resumption.

Federal Reserve Governor Bowman stated that as the shocks fade, core PCE is expected to be closer to 2% next year.

After the sharp decline of technology stocks last week, the concentrated holding risk in the U.S. stock market may not have been completely eliminated. The latest data shows that although retail investors and some hedge funds have significantly reduced their positions, global macro funds have largely maintained their existing stock exposure, becoming the next potential market risk of concern for institutions.According to a report by Bloomberg on Tuesday, data from Goldman Sachs' prime brokerage business indicates that as the S&P 500 recorded its worst weekly performance since 2025, global macro hedge funds did not significantly reduce their stock holdings. These funds primarily express macroeconomic and market directional judgments through index futures, exchange-traded funds (ETFs), and swap contracts. Due to their trading often involving large-scale index exposure, concentrated position adjustments could exacerbate volatility in major stock indices if market sentiment further deteriorates.Goldman Sachs data shows that last week, hedge funds' net selling of individual stocks reached the highest level in four months, with technology stocks becoming the most concentrated sector for net selling in both global and U.S. markets. Meanwhile, macro products, including index and ETFs, recorded net buying.In addition to global macro funds, systematic trading strategies may also become an important source of market volatility. Models tracked by Goldman Sachs indicate that approximately 60% of the global stock market is currently showing negative trading signals. According to relevant model estimates, S&P 500 index futures may face a potential selling scale of about $28 billion in the coming week, with potential selling pressure reaching $45 billion over the next month. The position structure in the options market has also increased potential risks.SpotGamma data shows that there is a broad negative gamma exposure in the S&P 500 index within the range of 7000 to 7550 points. In this market environment, options traders may further sell stocks during market declines to hedge their position risks and increase buying during market rises, thereby amplifying short-term price volatility.

Zcash community member ValarDragon posted on the official community forum, proposing a series of plans to be included in the NU8 network upgrade, and suggested setting the upgrade target for the end of January 2027. The main content includes the launch of the Tachyon shielded pool, expanding transaction formats, increasing the maximum block size from 2MB to 8MB, and adding support for post-quantum cryptography transparent transaction opcodes.Other proposals also include: adjusting the NSM redistribution date to be closer to the time of Zcash's seventh halving; determining a date at the protocol level for Sapling to stop accepting new deposits while continuing to support transactions and withdrawals; and eliminating the need to update the Consensus Branch ID with each network upgrade to reduce wallet compatibility issues. ValarDragon stated that with the combination of Tachyon and larger block capacity, a shielded transaction processing capability of approximately 200 TPS is expected. In addition, the post-quantum transparent transaction feature will introduce schemes based on SPHINCS with 128-bit and 192-bit security levels. The above content currently belongs to the upgrade ideas proposed by community members, and specific implementation still depends on development progress and subsequent NU8 discussions and voting.

Tom Lee, Chairman of the Ethereum treasury company Bitmine, stated that although the ETH price continues to be disappointing, this more reflects the market's lack of patience. In 2026, the wave of tokenization is steadily advancing and making significant progress, with the vast majority of tokenized assets built on Ethereum. Ethereum founder Vitalik Buterin also reaffirmed ETH's positioning as a store of value.In addition, Tom Lee believes that the cryptocurrency bull market has just begun, and the AI narrative has not absorbed all the new capital. Overall, the outlook for the cryptocurrency market remains bullish for the next 24 to 36 months, and he calls on investors to be prepared.