Hong Kong's Secretary for the Treasury: Hong Kong's tokenization initiative is advancing towards the implementation phase.

Beating AI News Flash: NVIDIA and investment firm TCV have made an additional investment in AI video company Higgsfield as part of its August Series B round. Back in August, Higgsfield raised $400 million at a $5.4 billion valuation, more than quadrupling its value since the start of the year. No details on the latest investment amount or valuation were disclosed. Higgsfield not only develops its own video models but also integrates around 35 third-party models including Kling, Veo, and Sora into a unified platform. Users can complete the entire workflow from storyboarding, character design to voiceover and final production without switching between tools. Founder Alex Mashrabov previously revealed that over 40% of the platform’s workflows use models automatically selected by the system. Profit margins vary drastically across models: gross margins exceed 80% for in-house or open-weight models, while they stand at just 20%–30% when accessing third-party closed-source models. Higgsfield has over 40 million registered users. The company announced in September that its annualized revenue exceeded $1 billion, growing roughly 20-fold year-over-year. The share of subscription revenue has fallen from over 90% to just above 60%, with pay-as-you-go revenue accounting for an increasing proportion.

Bridgewater Associates' China business unit has informed investors that its bullish stance on gold has softened. The Shanghai-based hedge fund stated in a September investor letter that it has gradually cut its previously over-allocated gold positions. The moves are driven by two factors: rising interest rates have boosted the opportunity cost of holding gold, while surging oil prices have curbed demand from energy-importing countries such as India.

According to monitoring by Onchain Lens, a Bitcoin whale recently transferred more than 5,099 BTC, with a total value of around $415 million. Of that amount, 949.7 BTC (worth approximately $77.55 million) was moved into Binance and Deribit, likely for sale or other trading operations. Another roughly 4,150 BTC (about $337.7 million) was transferred to the whale’s self-custody wallet, which had previously sent funds to crypto exchanges.

According to PeckShield monitoring, the address identified as the Cysic (CYS) attacker has deposited 300 ETH (worth approximately $721,100) and 30.4 BNB (worth about $22,600) into Tornado Cash, totaling roughly $743,700. Earlier, the Cysic Foundation announced that on October 17, its cross-chain bridge suffered a security incident, during which the attacker unauthorized minted 10 million CYS on BNB Chain. The specific connection between this fund transfer to Tornado Cash and its subsequent flow remains to be further confirmed.

According to Lookonchain monitoring, the account kimchi1x received 500 million KIMCHI tokens and published a related post. The account a1lon9 then retweeted the post, but later unretweeted it, while kimchi1x deleted the original post. Influenced by these developments, KIMCHI’s market capitalization briefly spiked to around $14 million before crashing more than 95%. On-chain tracking indicates that suspected scammers purchased KIMCHI in advance at low prices through multiple wallets, then sold after the price rose, generating a total profit of over $385,000.

Today, kimchi (@kimchi1x) received 500M $kimchi and posted about the token, and @a1lon9 reposted it. But @a1lon9 later undid his repost, and @kimchi1x deleted the post. $kimchi quickly surged to a $14M market cap before crashing over 95%. We found that the scammers used