South Korea's Finance Minister: Will take proactive steps to prevent market anxiety from escalating.

According to official announcements, Zcash’s mainnet has activated the NU7 upgrade. The upgrade cuts block time from 75 seconds to 25 seconds, tripling transaction confirmation speed. Meanwhile, 60% of fees collected per block will be removed from circulation, with plans to return these funds to miners starting February 2031, while the original block reward halving schedule remains in effect throughout this period.

Rob Pohly’s Samlyn Capital is laying off senior analysts; the firm has previously liquidated exposure to nearly all sectors, retaining only global financial stocks and shifting its investment focus to this area. According to people familiar with the matter, the $7 billion equity hedge fund sold off stocks in multiple sectors including industrials, technology and retail weeks ago, earlier than the recent market sell-off. The recent slump has hit the entire hedge fund industry hard. One source said that as of October, the fund is down around 5% year-to-date. Going forward, Samlyn will primarily trade global financial stocks, a sector that Pohly has focused on for decades. The firm retains analysts dedicated to financial sector research. Samlyn is not returning capital to investors; instead, it is reinvesting proceeds from the sale of other holdings into financial stocks, or holding cash temporarily for future deployment.

According to Yonhap News Agency, on November 6, South Korea’s Deputy Prime Minister and Minister of Economy and Finance Lee Hyung-il chaired an emergency market situation inspection meeting, attended by the country’s four top economic and financial officials. The meeting proposed a 3-month exemption from the mandatory requirement for securities firms to maintain a 140% guarantee ratio for credit financing. It noted that additional market stabilization measures will be implemented if stock market volatility intensifies.

According to monitoring by Yu Jing, Micron Technology plunged 17% last night. A whale went long on $31 million worth of Micron stock at 11 PM last night, just before the stock’s decline began, with an entry price of $775.25, and is currently facing an unrealized loss of $3.12 million.

Beating AI Express Insight: Moonshot (Kimi) is seeking NVIDIA Blackwell computing power in Europe. An insider disclosed that the two sides have discussed plans to lease at least 8,000 Blackwell GPUs, primarily for model inference, with training also under consideration. To secure these chips, an additional premium may be required: one leasing proposal states that Moonshot’s advance payment would be 30% to 50% higher than that for non-Chinese clients. European cloud service providers are concerned that the U.S. may block Chinese enterprises’ remote access to advanced chips in the future, so they hope to recoup funds as soon as possible. Recently, U.S. restrictions on Chinese AI companies leasing overseas computing power have been tightening. NVIDIA requires overseas cloud service providers to allocate at least 51% of their services to non-Chinese clients; Oracle, pressured by the Trump administration, also canceled a roughly $7 billion AI computing power leasing contract with Tencent. The U.S. currently bans direct exports of advanced chips like Blackwell to China, but has not fully prohibited Chinese enterprises from leasing overseas computing power. In July this year, the White House accused Moonshot of using Blackwell via a Thai data center. Now, Moonshot is again seeking computing power in Europe, while the U.S. Congress is pushing legislation to further restrict such remote usage.

According to Lookonchain’s monitoring, prominent crypto figure “Big Brother Ma Ji” Huang Licheng has faced liquidation again. Over the past four days, the $223,000 he raised by selling 15 NFTs at a $505,000 loss has also been quickly wiped out. To date, his cumulative losses amount to $909,000 on Papertrade and $37.4 million on Hyperliquid.