US SEC Updates FAQ on Token Repurchases: Repurchase Arrangements Without a Centralized Entity May Not Constitute Investment Contracts

Solana-based DeFi lending protocol Spout Finance has closed a $2 million strategic funding round, with participation from investors including Draper Dragon, Anchorage, Flow Traders, Vessel Capital, Solayer, 2Square, and Bering Waters Group, plus strategic backing from Solana Labs. The platform allows users to borrow stablecoins such as USDC by using their held tokenized US stocks as collateral, with no interest charged.

Beating AI Insight News Flash: OpenAI Product and Platform Head Tibo Sottiaux announced Day 11 of the company’s 28-day product sprint. Instead of launching new features, the team has increased computing power and adjusted backend systems to fix Codex’s frequent “Selected model is at capacity” error. Earlier, many users reported that despite having remaining subscription quotas, Codex repeatedly showed model overload, causing task interruptions. Sottiaux said the adjustment has drastically reduced such errors; even if they occur occasionally, tasks should resume automatically instead of getting stuck indefinitely.

Elon Musk said at today's Roadster launch event that production of the Roadster sports car will begin in 2028. According to market data from BIT (bit.com), Tesla's stock erased its post-launch gains in after-hours trading, turning lower and currently down 0.54%.

According to The Information, AI cloud service provider CoreWeave and semiconductor giant Broadcom are opposing OKXICE’s request to tokenize their stocks on-chain for trading. Of the 63 issuers notified, a total of 9 have raised objections to the platform listing crypto versions of their stocks.

According to Bitget's market data, the Hang Seng Index opened 1.08% higher today, and the Hang Seng Tech Index opened 1.59% higher. In the AI stock segment, Zhipu rose 3.89%, while MINIMAX-W gained 6.01%.

Beating AI News: U.S. fintech firm Ramp announced it has closed a $1.85 billion funding round, pushing its valuation to $60 billion. The round was led by Dragoneer, with co-lead participation from Thrive Capital and Founders Fund. Just four months ago, Ramp raised $750 million at a $44 billion valuation, meaning its worth has surged by $16 billion in that short period. Founded in 2019, Ramp initially offered corporate credit cards and expense management, but has since expanded its services to include payments, procurement, and financial reconciliation. The company now serves over 85,000 businesses, an increase of 15,000 from June this year. Its platform processes more than $275 billion in annualized payments, a 175% year-over-year jump; annualized revenue exceeds $20 billion, and it has turned cash flow positive. At its latest valuation, this equates to roughly 30 times its annualized revenue. Ramp is extending its corporate financial management to cover AI-related spending. Co-CEO Eric Glyman previously disclosed that in May this year, the company’s token expenses for a single week reached as high as $1.5 million. Ramp then rolled out its internal cost management tools to the market, launching AI Token Spend Management, which helps businesses track expenses by employee, AI model, and API key. Its accompanying Router tool selects cheaper, performance-matched models for different tasks, with the company claiming customers save an average of around 40% on inference costs. On October 13, Ramp also opened early access to its AI workspace platform Glass, allowing teams to share prompts, skills, and automation workflows while tracking token consumption for each task. Early investor Keith Rabois told TechCrunch that Ramp’s goal is not to compete with enterprise management software firm Rippling, but to become a primary hub for businesses to manage AI token spending and its return on investment, ultimately competing with Anthropic.