Tech stocks plummet, wiping $185 billion off Bloomberg Billionaires Index fortunes overnight, with Jensen Huang dropping out of the global top 10 billionaires.

Machi (@machibigbrother) got liquidated again! The $223K he raised by selling 15 NFTs, at a $505K loss over the past 4 days, was wiped out again quickly. He is now down $909K on @papertrade_xyz and $37.4M on Hyperliquid.

According to Bitget's market data, the MSCI Asia Pacific Index’s decline narrowed to 3.3%, after previously falling by more than 5%.

Beating AI News: Google has launched its Gemini Omni 1.2 Flash video generation model. The new version can produce videos up to 15 seconds long, a 50% increase over its predecessor. The cost of 720p video generation has dropped by 30% to $0.07 per second, meaning a 15-second video costs just $1.05 to generate. A key upgrade of Omni 1.2 Flash is its enhanced ability to maintain consistency of characters and visuals during sequential video edits. For example, users can use chat prompts to sequentially change the background of the same video to a forest, stable, and castle, while retaining the original characters, actions, and camera angles. The new version also fixes lip-sync issues for multi-person dialogues and the problem of abrupt visual jumps during continuous camera movements. In the preliminary Arena rankings released on November 5, Omni 1.2 Flash ranked first in both text-to-video and image-to-video categories, and third in video editing. The new model is now available via the Gemini API and integrated with Flow and Google Vids. The 15-second video generation feature of the Gemini App is gradually being rolled out to Google AI Ultra users.

Stablecoin financial platform Takenos has closed a $7 million seed round extension, with North Island Ventures and Road Capital Management leading the round, and Variant, Lattice, Reverie among other participants. The company’s total funding now stands at $12 million, with the proceeds to support its service expansion.

According to Bitget market data, South Korea's KOSPI index continues to rebound, with its decline narrowing to less than 4%.

Renowned U.S. stock market analyst Mark Minervini wrote in a post that he does not believe U.S. equities will see a crash on par with the 1987 sell-off in magnitude, but today may lay the groundwork for some form of stock market crash that could last one to two weeks. “If the downturn intensifies, SPY could drop 10% to 15% from its highs, with a worst-case decline of 20%. The Nasdaq may fall 20% to 25%. A cyclical bear market similar to 1998 is possible.”