arc

According to Bitcoin.com, CoinShares Research Director James Butterfill stated regarding the results of the U.S. midterm elections on November 3 that Bitcoin has largely priced in the expectations of a Democratic victory. With uncertainty removed, there is room for a rebound, and the expected results may not necessarily trigger another round of selling.Butterfill warned that a greater concern is the slowdown in crypto reform. The Clarity Act faces a more difficult path, and investigations into Trump-related businesses may consume political capital and generate unsettling headlines in the industry. He believes that U.S. crypto stocks may be more sensitive than Bitcoin, especially exchanges, token issuers, and businesses reliant on new regulatory licenses.Butterfill also mentioned that compliant operators could benefit from competitors facing stricter scrutiny. For Bitcoin, real yields, dollar liquidity, and ETP fund flows remain more important than the elections.

On Tuesday, Google announced that its AI products will be disabled by default for K-12 student accounts unless school administrators actively enable them. However, schools that wish to completely disable AI must also turn off Google Search, which is a tool that millions of students rely on for their daily research. Chris Phillips, Vice President and General Manager of Google Education, stated during a meeting with educators that Search and AI are deeply integrated, and schools that are uncomfortable with AI can choose not to enable Search at all.Google stated that administrators can enable or disable Gemini, Gemini Notebook, Gemini in Classroom, and Search separately. This means that schools can block the standalone chatbot while retaining the search function, but they cannot remove AI from the search itself. According to The New York Times, starting in early 2027, schools that enable Search will receive versions with regular AI features such as AI Overviews and AI Mode, or an education-focused Guided Learning experience, neither of which will offer a traditional search experience without generative AI.The announcement has sparked criticism. New York City Mayor Zohran Mamdani accused Google of trying to impose AI on public schools using its monopoly power; former Federal Trade Commission Chair Lina Khan also criticized Google for using its search monopoly to force schools to adopt AI. Currently, New York City has implemented a one-year generative AI ban for students in eighth grade and below, affecting nearly 600,000 students, while Los Angeles has also restricted the technology, with local officials originally hoping to retain Google Search and remove AI summaries. In 2024, a federal court ruled that Google illegally monopolized the U.S. search market.

Bitcoin News posted on the X platform that Bitcoin security researcher Talip stated that his team discovered over 10,000 potential vulnerabilities using AI within two months.The team consists of volunteer engineers, and some findings have been assessed, disclosed, and fixed, while other disclosures are still ongoing. Talip mentioned that AI-generated findings need independent verification, as many of them may be false positives or exaggerate the severity of the vulnerabilities.

Sequoia Capital published a long article titled "The Sequoia of Tomorrow" on X, introducing a series of adjustments made after completing the generational transition for one year.Sequoia stated that it will focus on high-confidence, highly selective venture capital, simplify the structure of the Sequoia Capital Fund, discontinue the batch accelerator Arc and Scouts projects, and streamline its operations and investment teams.Sequoia will no longer distinguish between "early-stage" and "growth-stage" teams, unifying them into one team; at the same time, it will close its London office, with some employees leaving, and will support European entrepreneurs from its headquarters in the San Francisco Bay Area in the future.In addition, Sequoia mentioned that it has flattened the partner structure, canceled the weekly partner meeting cycle, and has raised approximately $10 billion for a new fund. Currently, Sequoia is jointly held and operated by seven general partners, with a positive outlook on areas such as AI, space, biotechnology, and re-industrialization.

Circle disclosed the latest progress of the Arc network, having completed the genesis minting of 10 billion ARC tokens, becoming the first publicly listed company to mint network tokens for a new Layer 1 blockchain. ARC will be used for network security, utility functions, and governance, and Arc plans to transition to a Proof of Stake (PoS) mechanism by 2027.In addition, the Arc public mainnet went live on September 16, attracting over 100 institutions and ecosystem builders on its first day, and natively integrating USDC. Future developments will focus on PoS, privacy protection, and scalability.In terms of the ecosystem, the Arc developer community now has over 75,000 Arc House members and 10,000 Architect ambassadors, with more than 1,200 projects built during the private mainnet phase.

According to a report by the Financial Associated Press, Bitcoin has rebounded from an earlier sell-off after hitting a seven-week low. Investors are weighing the expectations that the Democratic Party will achieve a comprehensive victory in the U.S. midterm elections and its impact on the cryptocurrency industry.Thielen, head of the cryptocurrency market research firm 10x Research, stated that Bitcoin is rebounding as people are now hopeful for the resumption of peace talks, given that Trump has indicated he will respect the election results and American voters have voted against the war. The war he referred to is the conflict with Iran that broke out in February of this year. Thielen also mentioned that Bitcoin is currently in an oversold state and is expected to rebound.

Anthropic recently released the latest research on verifiable AI outputs and introduced the new system FlashProve.When explaining how related capabilities can be implemented in real production environments, the document references the Ethereum ecosystem L2 Mantle as a use case, and in the public research of leading AI laboratories, Mantle is regarded as one of the on-chain production practices that can be referenced.

On October 30, the French cryptocurrency market intelligence agency OAK Research released a report titled "Stablecoins Generate Huge Revenue but Do Not Flow to Public Chains," authored by Lilian Aliaga. The report states that the market capitalization of stablecoins has increased from $4 billion in January 2020 to approximately $298 billion currently, having reached $310 billion at the end of April this year, which is more than three times the total locked value of all DeFi. In the third quarter of 2026, Tether and Circle's combined revenue is approximately $2.1 billion, while the fees from the 13 public chains tracked by the agency totaled $285 million during the same period.The report separately compares the sources of revenue on both sides. Issuers primarily earn interest on reserve assets: of Circle's total revenue of $701.3 million in the second quarter of 2026, reserve income accounted for 95%, or $667.7 million, which is only a 5% year-on-year increase; during the same period, the on-chain transaction volume of USDC increased by 151% to $14.8 trillion, the average supply increased by 25%, while the reserve yield decreased by 66 basis points to 3.49%. Tether's average supply increased by 10.6% year-on-year, and DefiLlama estimates its quarterly revenue to still be around $1.5 billion. Public chains only charge fees based on transactions, and the custody scale itself does not generate revenue.In terms of specific data, in the third quarter of 2026, Ethereum's average custody of stablecoins was $146 billion, with fees of only $34.6 million; Solana's custody was less than $16 billion, with fees of $62.9 million, of which only $6.7 million remained on the protocol side. In the first quarter of 2024, Ethereum's fees were $1.17 billion, higher than the issuer revenue corresponding to its custody of stablecoins, which was about $730 million; by the third quarter of 2026, issuer revenue was approximately $986 million, while Ethereum's fees were $34.6 million. The report also states that stablecoins currently account for about 28% of Aave deposits, 37% of Morpho, and 84% of Hyperliquid.

VanEck's Head of Digital Asset Research, Matthew Sigel, posted on the X platform that Bitcoin's hash rate is approaching an all-time high of 1038 EH/s, with the next halving expected in April 2028.He stated that a S21 XP miner priced at $3,459, under the conditions of an electricity cost of $0.08, constant hash rate, and a three-year depreciation, would require Bitcoin to average around $100,000 from now until the halving period to break even; to achieve cash recovery by the end of 2028, it would need to reach about $116,000. Currently, the BTC price is $77,500.

VanEck's Head of Digital Asset Research, Matthew Sigel, stated that the total supply of stablecoins decreased by $11.5 billion to $291.2 billion within 30 days, with Tether and Circle accounting for about three-quarters of the decline.

Markus Thielen expects Bitcoin may first drop to the mid-high range of $70,000, then rebound by the end of the year, and believes its performance will outperform Ethereum.

According to a report by Phoenix Technology citing The Verge, Adam Fry, the head of consumer products for OpenAI ChatGPT, stated at a media event on Monday that the volume of search queries handled by ChatGPT has reached 20% of Google's search query volume. He defined search as the act of users inputting queries that trigger web searches, excluding tasks such as defining terms or simple operational instructions, but did not specify the source of the Google search volume data.In comparison, Microsoft CEO Satya Nadella stated during the 2023 Google antitrust trial that Bing holds about 3% of the search engine market share. The report noted that OpenAI's search likely relies heavily on Microsoft Bing while also using its own search index. Fry also mentioned that the Intelligent UI referred to by OpenAI involves creating visual and interactive interfaces in chatbot responses, indicating that this is the future direction of the technology.Fry also discussed advertising. He stated that advertising has not negatively impacted the product or its usage, and most people seem to mind the ads in the product. OpenAI announced last month that it would begin displaying images of sponsored products and services in ChatGPT, rather than just the company names, logos, and product links previously shown. The report mentioned that this discussion comes as the company may launch an IPO early next year.

Zach Pandl, the head of research at Grayscale, published an analysis article pointing out that although the hacking attack on Binance on October 19 raised the security losses in the cryptocurrency industry to over $8 billion, a new high for 2026, the proportion of security losses relative to the total market value of cryptocurrencies has significantly decreased in the long term. Currently, Binance has covered 95% of the affected assets, and customers will not bear the losses.Stablecoin issuers like Tether and Circle have assisted in freezing approximately $2.9 billion of stolen funds, accounting for about 45% of the total stolen amount, which is expected to be returned to Binance. Zach Pandl believes that while this incident has temporarily impacted market confidence, it will ultimately drive all exchanges to establish stricter security practices, while also highlighting the importance of institutional-grade custody, prompting more U.S. investors to gain exposure to cryptocurrency assets through exchanges that offer protections such as segregated accounts, cold storage, multi-signature, and commercial insurance.

Markus Thielen, founder of 10x Research, stated in the Cointelegraph podcast Trade Secrets that the days of Bitcoin experiencing double-digit gains consecutively are over, as Wall Street traders and profit-taking whales are reshaping the market structure. He believes that institutional traders are selling call options after price increases, making the extreme price surges of earlier years less common. Thielen, who is also the author of the industry historical work Crypto Titans, found in his writing that each cycle has different drivers, and different drivers attract different investors. The current drivers are from Wall Street, with investors trading based on economic data and Federal Reserve decisions.Thielen estimates that among the $60 billion in net inflows for spot Bitcoin ETFs he analyzed, market makers could account for as much as half. These institutions hold ETF shares to hedge options trading, so they do not necessarily represent a bet on Bitcoin's price increase. His estimate is based on a review of the SEC's 13F filings. He still expects Bitcoin to reach $90,000 by the end of the year, but it may first drop to a range of $76,000 to $79,000. Bitcoin fell to about $76,100 last Friday after a $6.3 billion hacking incident on Binance, with a cumulative drop of 7.3% in October.Thielen expects Bitcoin to outperform Ethereum, believing that too much value generated by Ethereum's ecosystem is flowing to Layer 2 networks. He has been bearish on Ethereum for over a year, comparing it to a highway: everyone wants the road to be clear and tidy for fast travel, but no one wants to pay for it. He cited the decentralized perpetual contract exchange Hyperliquid as an example, pointing out that its aid fund converts trading fees into HYPE and destroys them, suggesting that Ethereum needs to establish a stronger connection between network usage and financial benefits for holders.

HSBC announced the establishment of a global "Artificial Intelligence and Emerging Technology Research Institute" in the northern metropolitan area of Hong Kong, which is scheduled to begin operations in early 2027. The institute will focus on talent skill enhancement, artificial intelligence security and fraud detection, post-quantum cryptography, and blockchain, and will promote the application of innovative solutions across various business areas. HSBC has selected the Hong Kong University of Science and Technology as its main academic partner.

The team behind Revolut has launched the perpetual contract platform Extended and released the XTEN token economic description. XTEN is the native token of the Extended ecosystem, with a maximum supply of 1 billion tokens, minted all at once at genesis, and the supply cap cannot be increased. The community airdrop allocates 300 million tokens, accounting for 30% of the total supply, which will be fully unlocked at the Token Generation Event (TGE). The portion unlocked at TGE accounts for approximately 32.9% of the total supply, with a maximum circulating supply of 30% of the total. XTEN staking will go live simultaneously with TGE, with League level thresholds starting from 500 XTEN.Founders, team members, and investors will collectively receive 500 million tokens, which will not be unlocked before the end of a 12-month cliff period. After the cliff period, the founders and team will release tokens linearly in 36 equal installments from the 13th month to the 48th month; investors will unlock 25% in the 12th month, with the remaining 75% released monthly until the 48th month. The ecosystem allocation is 200 million tokens, of which 150 million will enter the emission reserve as the sole source of staking rewards, and emissions will stop once this reserve is exhausted; 50 million tokens will be allocated to the ecosystem fund, with 28.589286 million tokens unlocked at TGE but stored in a public wallet, with further announcements to be made before deployment. In the community allocation, 17.384355 million tokens correspond to the internal market-making platform of the operating entity X10 Ltd., obtained according to the points system, and the tokens are owned by X10 Ltd.To receive the airdrop, users must sign the terms within the app; the signing window will be announced separately, and any unaccepted allocations before the window closes will be transferred to the ecosystem fund. The staking balance determines the discount on transaction fees, additional yield multipliers for the Vault, deposit limits, and alliance revenue multipliers, with staking discounts ranging from 5% for Pawn tier to 30% for King tier. Unstaking will have a 7-day queue, during which no rewards will be counted, and it will not affect the level. XTEN will natively support Circle's CCTP, and Extended claims it is the first third-party token to launch on Arc with native CCTP support. Due to considerations related to MiCA, XTEN will not be available for EU users on Extended at the time of spot launch, but European point holders can still claim, hold, stake, and transfer. The TGE date, claiming window, and emission schedule will be announced separately, with the issuer being Extended Ecosystem Limited, and the white paper has been reported to the Cyprus Securities and Exchange Commission (CySEC).

Principia Research disclosed that elizaOS founder Shaw is reverse engineering Hyperliquid's closed nodes on GitHub. The project has been underway for 6 days and has already attracted 46 contributors, but none of the 96 verification checkpoints have been passed yet.Meanwhile, Hyperliquid's public API data shows that there are 27 active validators on its network, with 5 foundation nodes controlling 47.4% of the staking share. The top three validators collectively account for 36%, which is more than one-third. This data has also sparked discussions about the level of decentralization of the Hyperliquid network.

The blockchain vulnerability bounty platform Immunefi announced the launch of Immunefi Credits. Since the submission fee mechanism was initiated, researchers will receive an equivalent amount of Credits for effective reports, covering valid discoveries, valid reports of duplicate submissions, privately known issues, and situations where the mediation results are favorable to the researchers. The platform stated that over 700 researchers have already received Credits without needing to apply separately, and the amount can be viewed on the Credits page associated with the console balance.Immunefi stated that starting today, Credits can be used to pay for submission reports, mediation, account verification, and other fees within the platform, and will be used for related services once Immunefi Studio is open to the public. One Credit is worth 1 US dollar and can be purchased with USDC. Credits do not replace vulnerability bounties or audit competition rewards; valid discoveries will still receive rewards according to the original rules, and additionally receive Credits equivalent to the submission fees. The Credits issued retroactively will be valid for 12 months from today, and thereafter each Credit will be valid for 12 months from the date of crediting, bound to the account, and non-transferable or redeemable.Eligible situations also include valid discoveries already paid in vulnerability bounties or confirmed in audit competitions, duplicates of valid reports by others, privately known issues and their duplicates, as well as mediation fees when mediation is won. Publicly known issues, invalid reports, out-of-scope submissions, policy violations, duplicates of rejected reports, and duplicates of self-reports are not counted. Account verification fees can earn equivalent Credits when there is a valid report after verification and the accuracy rate reaches at least 25%. The fee mechanism has been applicable to vulnerability bounties since March 24 and to audit competitions since April 10, with relevant verifications currently conducted approximately every two weeks.