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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.

On-chain data analysis platform CryptoQuant analyst Darkfost stated that as Bitcoin falls below several key price levels, market panic is spreading, whereas just a few weeks ago, investors were generally in a profitable state.He pointed out that according to the long-term valuation model he follows, Bitcoin has currently entered an extremely undervalued range, having historically spent only about 3.4% of the time at similar levels. Darkfost believes that such phases of market panic should not be overly concerning, as they often provide good positioning opportunities for long-term investors, but this indicator does not mean that Bitcoin has necessarily bottomed out or will rebound in the short term.

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.

The New York Times cited five individuals who previously worked at NVIDIA, reporting that in addition to the extramarital affair already acknowledged, Jensen Huang also had an extramarital relationship with Kimberly Powell, the Vice President of the company's healthcare business. Powell reports directly to Huang, and both are married.According to insiders, during the NVIDIA GTC developer conference in March this year, the two were spotted behaving intimately at a hotel in San Jose, California. Someone captured footage of the incident on a mobile phone, and Huang's security team subsequently isolated the shooter and requested them to sign a non-disclosure agreement. The New York Times stated that it has not seen the video, and the related relationship had previously been discussed internally within the company. Powell was originally scheduled to speak at the opening ceremony of the Milken Institute Health Summit in Washington on the morning of November 12, but the host, CNN reporter Meg Tirrell, announced that she had canceled her appearance without specifying the reason. When responding to a phone inquiry from a New York Times reporter, Huang stated that he did not believe the other party should speak directly with him, and then hung up the phone.This is the second time in a week that Huang has been exposed for an extramarital affair. Meanwhile, The Wall Street Journal reported that NVIDIA's board is preparing to dismiss Huang, with a special meeting scheduled as early as November 11 local time to discuss his future. Following the news, NVIDIA's stock price fell by about 9% in after-hours trading. Since Huang was first reported to have an extramarital relationship with Alice Huang, including the after-hours drop, its stock price has decreased by 18% across the two related reports, resulting in NVIDIA's market value evaporating by approximately $820 billion.

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.

Elon Musk stated that in order to process more Cybertruck backlog orders, production will be extended until the end of summer 2027.

The decentralized perpetual contract trading platform Extended has opened the XTEN token allocation query page. Users must complete the signing confirmation by December 31; any unaccepted allocation amounts after the deadline will be transferred to the Ecosystem Fund. The official also reminds that users using Starknet accounts need to specify a self-custodied EVM wallet address to receive related assets, while the specific launch time of the XTEN token has not yet been announced.Extended is built by the former Revolut team, based on Starknet, utilizing zk technology and secured by Ethereum. It offers over 300 markets including cryptocurrencies, stocks, foreign exchange, commodities, and indices, with a maximum leverage of 100 times, using USDC as the base collateral asset. Users can deposit USDC into the Community Vault to earn yields and receive XVS share tokens, which can also be used as trading collateral.

The police in Dezhou, Shandong, China, have cracked a cross-provincial online extortion case. The criminal gang impersonated environmental inspection personnel and journalists, using drones to film breeding farms and release negative videos, inducing farmers to pay for post deletion.The gang collected funds through payment codes and third-party payment platforms, which then settled with money laundering groups using virtual currency. The police stated that the gang committed 268 crimes in 22 cities across 5 provinces, including Shandong, Henan, Hebei, Jiangsu, and Anhui, within two months, involving an amount of over 800,000 yuan. A total of 23 people have been arrested, and assets worth over 2 million yuan have been sealed, seized, or frozen.

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.