ZachXBT: Suspected hack of an EU entity results in over $106 million in losses.

Li Jiaqi’s Tmall Double 11 live stream made its debut sale of AI computing power product Qianwen Office Token. According to reports from outlets including Caijing, within just half an hour of launch, the live room sold 100,000 Qianwen Office personal monthly membership cards, totaling around 2 trillion Tokens, with the comment section repeatedly flooding with the line “321, launch Token”. That evening, Chen Yusen, Vice President of Alibaba and CEO of Qianwen Office, appeared as a guest on the live stream. When asked whether an AI doppelg?nger could be created to chat 24 hours a day, Chen stated that AI cannot replace Li Jiaqi, and instead hopes to help fans resolve trivial matters using AI, such as clocking off on time, caring for pets, and looking after family members. The event also showcased demos including organizing homework and creating training mini-games, generating business analysis reports from live stream replays and bullet comments, and producing global fishing maps through AI dialogue. Pre-heat materials indicated the live stream also announced a 20 trillion Token giveaway, and showcased products including AI computers pre-installed with Qianwen Office, AI audio note cards, and desktop robots. Prior to this, Tokens had already entered e-commerce channels: on September 3, Tmall launched a Token recharge center integrated with vendors including Alibaba Cloud, Zhipu, Kimi, and MiniMax, offering monthly subscription plans and pay-as-you-go top-up services.

According to official sources, BitMine added 8,573 Ether (ETH) to its holdings last week. As of November 1, 2026, its total Ether holdings reached 6,060,506 units, accounting for approximately 4.9% of Ether’s total supply. Currently, BitMine’s total assets, including cryptocurrencies, cash and other investment holdings, are valued at around $14.5 billion, comprising $498 million in cash and marketable securities, 216 Bitcoin (BTC), $180 million in equity assets of Beast Industries, and an $82 million investment in Eightco Holdings (ORBS). Additionally, the number of Ether it has staked stands at 5,227,037 units (86% of its total Ether holdings), valued at roughly $11.8 billion based on a price of $2,261 per Ether, with current annualized staking returns of about $358 million.

According to CNBC, Morgan Stanley has cut its rating on crypto exchange platform Coinbase (COIN) from Equal Weight to Underweight, and slashed its price target from $258 to $120, implying roughly 16% downside from last Friday's close. Analyst Michael Cyprys said in a Monday client note that while the company is still pursuing its broader strategy, weak recent trading trends, soft forward revenue outlooks, and uncertainty in the crypto market have made the "earnings recovery" narrative harder to justify. Cyprys noted that Coinbase's crypto trading activity weakened in October, with fourth-quarter trading revenue of roughly $165 million as of Oct. 25. At that pace, full-year revenue would come to around $607 million, roughly 11% below the market consensus estimate of $685 million. COIN shares have fallen around 22% over the past month. After rival Binance suffered a roughly $6 billion hack last week, crypto trading activity may stall further, weighing on Coinbase's earnings and stock price. Morgan Stanley has cut its 2027 revenue forecast for Coinbase by 28% and its adjusted EBITDA forecast by 47%. The rating runs counter to Wall Street consensus: LSEG data shows that among 41 analysts covering Coinbase, 26 rate it Buy or Strong Buy, while 13 hold a Hold rating.

According to @zachxbt, an EU entity is suspected of losing $106M+ from multiple centralized exchange accounts. The attacker used wallet 0x9eca to buy 27,553 $ETH($62.97M) on-chain at an average price of $2,286 and moved the funds through multiple platforms.

Binance founder CZ wrote that an increasing number of countries will realize issuing their own national stablecoins will boost demand for their domestic currencies and government bonds, as the U.S. dollar already holds a huge lead in this space.

According to data from the BIT stock platform, U.S. optical module industry leader Marvell announced an all-stock acquisition of optical chip leader Lumentum. However, the deal news failed to reverse the downward trend: MRVL turned down 1.48% in pre-market trading (after earlier rising more than 3%), while LITE fell 2.99% following the resumption of trading.