Today's top news highlights:
Caixin: Qian Zhimin, the perpetrator of the 61,000 Bitcoin case, also holds XRP.
Trader Eugene is bullish on $UNI: a drop below $6.50 would invalidate his bullish argument.
The man claiming to have the world's highest IQ: Bitcoin will reach $220,000 within 45 days.
Macro
At the Cerebral Valley Summit in San Francisco, an anonymous survey of over 300 attendees revealed diverse opinions within the industry regarding the future of AI. Regarding OpenAI's annualized revenue forecast, industry insiders predict it will reach $30 billion by the end of 2026, with NVIDIA's market capitalization reaching $6 trillion, although the growth rate may not be as rapid as previously expected. Furthermore, the independent committee report from OpenAI and Microsoft on whether AGI (Artificial General Intelligence) has been achieved may not be released until 2030 at the earliest. While OpenAI is expected to continue dominating the LMARaena rankings in 2026, many attendees indicated a greater willingness to invest in Anthropic than OpenAI. Additionally, Perplexity is considered one of the most controversial startups and a top target for short selling. The conference also discussed the trend of reverse takeovers in the AI field, including deals such as Meta and ScaleAI, and Google and Character. Participants noted that large tech companies are accelerating such acquisitions due to antitrust scrutiny and competition for limited talent, and are willing to invest heavily to maintain a competitive edge. Industry insiders believe that these deals are more about competing for top talent than simply integrating technology.
Opinion
Trader Eugene is bullish on $UNI: a drop below $6.50 would invalidate his bullish argument.
Trader Eugene wrote that since October 10th, the crypto market has experienced five consecutive weeks of deep correction, with many investors having already sold off. In the event of a market rebound, he believes projects with strong fundamentals will outperform, with Uniswap ($UNI) in the spotlight due to its latest fee adjustments. Eugene points out Uniswap's advantages: previously considered uninvestable due to conflicts between equity and token holders, the team has now shifted its stance to support token holders; as the narrative leader of the fee adjustment proposal, its price has almost returned to pre-proposal levels. He believes that if the market finds a short-term bottom in major assets, $UNI is poised to lead the rebound in the coming weeks. His strategy's failure point is a price drop below $6.50. According to OKX market data, UNI has broken through $8, rising 3.3% in the last 24 hours.
The man claiming to have the world's highest IQ: Bitcoin will reach $220,000 in 45 days.
YoungHoon Kim, hailed as having the world's highest IQ of 276, predicts that Bitcoin will reach $220,000 within the next 45 days. Related reading: Trading Moments: The AI bubble theory intensifies in US stocks; Bitcoin's pullback from year-to-date gains exacerbates bearish signals; Zcash exhibits independent price action.
Morgan Stanley forecasts a US stock market target price of 7800 points by the end of 2026.
Morgan Stanley forecasts a year-end price target of 7,800 for US stocks and expects them to outperform other regions. Furthermore, the firm upgraded its rating on US small-cap stocks relative to large-cap stocks to "overweight," while adjusting some sector ratings, upgrading the consumer discretionary sector from "underweight" to "overweight" and the healthcare sector from "neutral" to "overweight." Morgan Stanley also predicts the US dollar index will fall to 94 in the first half of 2026 before rebounding to 99 by the end of the year.
Project Updates
Binance disclosed in its official blog that at the beginning of 2025, Binance Pay had only about 12,000 merchants, while now over 20 million businesses accept its payment services. This means that within ten months, Binance Pay's network size has grown more than 1700 times. This significant growth is mainly attributed to the widespread adoption of stablecoins. This year, over 98% of its B2C transactions used stablecoins such as USDT, USDC, EURI, and FDUSD, and this basket of stablecoins continues to expand. Furthermore, since its launch in 2021, Binance Pay has processed over $250 billion in cumulative transactions, and its user base has exceeded 45 million.
Binance Alpha and its contract platform will launch GAIB (GAIB).
According to a Binance announcement, GAIB (GAIB) will be listed on the Binance Alpha trading zone at 18:00 Beijing time on November 19th, with GAIBUSDT perpetual contracts launching at 18:30, offering leverage up to 40x. GAIB is a project that tokenizes AI assets such as GPUs and robots into on-chain yield assets. This will be the first global listing of this token, and users can participate in a limited-time airdrop event through Alpha Points.
Messari releases Filecoin Q3 report: utilization rises to 36%, capacity shrinks to 3.0 EiB
According to Messari's Filecoin Q3 2025 Status Report, Filecoin's network utilization rose to 36% in Q3, total capacity decreased to 3.0 EiB, and network fees increased by 14% quarter-over-quarter to approximately $793,000, with penalties accounting for about 99.5%. The v27 "Golden Week" upgrade removed the old sector method, resulting in near-zero base and batch fees. Active storage decreased slightly by 1% to 1,110 PiB, and the average daily new transaction volume decreased by 19%. The number of live datasets increased to 2,491, of which 925 exceeded 1,000 TiB. FVM token activity (in FIL terms) remained relatively stable; DeFi TVL decreased by 8.4% to approximately $27 million; and USDFC circulating supply decreased by 8.5% to approximately $275,000. The Filecoin Foundation and the GSR Foundation are advancing their cooperation on cultural and scientific data storage. Furthermore, according to an official Filecoin announcement, Filecoin Onchain Cloud will be officially launched at 00:00 Beijing time on November 19th and will be streamed live on YouTube. The platform aims to build a decentralized, developer-owned cloud infrastructure, encompassing modules such as storage, computing, retrieval, and access control, serving the new era of data, AI, and applications.
Important data
According to Nansen, in the past 20 minutes, the address of Wang Chun, co-founder of F2Pool, has deposited 3,000 ETH into Binance, worth approximately $9.6 million. The address currently still holds 1,500 ETH, worth approximately $4.8 million.
On-chain data shows that address 0xa2c...b3126 deposited approximately 3.617 million USDC into the HyperLiquid platform an hour ago as margin, and subsequently opened 22 long positions in altcoins. The total position is currently valued at approximately $19.86 million, with 10 positions (worth approximately $1.42 million) still in TWAP (partial limit order execution) pending execution.
Arthur Hayes sold 1,480 ETH in two days, a move that has historically been poorly timed.
According to Lookonchain monitoring, BitMEX co-founder Arthur Hayes sold 1,480 ETH in the past two days, worth approximately $4.7 million. It's worth noting that after his last sale of ETH on August 1st, he bought it back at a higher price within nine days, indicating poor timing in his ETH trading.
According to SoSoValue data, from November 10th to 14th (Eastern Time), Bitcoin spot ETFs saw a net outflow of $1.11 billion, marking the third consecutive week of negative inflows. ARKB was the only ETF to see a net inflow of $1.68 million, while IBIT and BTC experienced net outflows of $532 million and $290 million, respectively. As of now, total assets in spot ETFs have reached $125.34 billion, representing 6.67% of Bitcoin's market capitalization.
According to The Korea Times, South Korean cryptocurrency exchanges are facing profit pressure due to declining trading volume caused by a weakening market. Upbit's operator, Dunamu, reported a Q3 operating profit of 235.3 billion won, a 180% year-on-year increase, with revenue of 385.9 billion won and net profit of 239 billion won. Bithumb reported an operating profit of 70.1 billion won, revenue of 196 billion won, and net profit of 105.4 billion won. Bitcoin has fallen approximately 25% from its October high, and the average daily trading volume of Upbit and Bithumb in November dropped to $1.88 billion, the lowest this year. Transaction fees account for about 98% of the two exchanges' revenue. They have recently accelerated the listing of new tokens to boost activity, but overall trading volume remains weak.
The number one short position in ZEC on Hyperliquid has paper losses exceeding $22.04 million.
According to AiYi's monitoring, the top-ranked short address for $ZEC on Hyperliquid has suffered floating losses exceeding $22.04 million. With ZEC breaking through $700 again and reaching a new all-time high (ATH), the 60,870.43 ZEC short positions held by this address have suffered significant losses. It's worth noting that these floating losses are the result of partial position reduction. The address's latest liquidation price is $1,112.45. Industry insiders are also watching whether it will continue to stubbornly hold onto its short positions.
ZachXBT: Cardano users lose over $6 million due to low-liquidity trading.
Chain detective ZachXBT reported early this morning that a Cardano user exchanged 14.4 million ADA (approximately $6.9 million) for 847,000 USDA (a USD stablecoin on Cardano) about two hours ago. Due to extremely low liquidity in the pool, the transaction caused a short-term surge in the price of USDA, resulting in a loss of approximately $6.05 million for the user. These funds had reportedly been idle for nearly five years.
Investment and Financing/Acquisition
Takadao completes $1.5 million seed funding round and launches LifeCard for stablecoin spending.
Takadao, a Riyadh-based Saudi Arabian Web3 financial platform with offices in Singapore, announced the completion of a $1.5 million seed funding round. Investors included Hasan VC (Malaysia), Syla Invest (France), Wahed Ventures (UK), Ice Blue Fund (Japan), Istari Ventures (USA), Adverse (Saudi Arabia), and Draper Associates from Silicon Valley. This brings its total funding to approximately $3.1 million (including previous pre-seed rounds and other investments). In addition, Takadao launched LifeCard—a prepaid VISA card that allows users to use stablecoins like cash at any VISA-enabled location.
Institutional holdings
Cardone Capital purchased 888 BTC for its "Bitcoin Real Estate Hybrid Project"
Grant Cardone, founder of real estate investment firm Cardone Capital, announced on the X platform today that he has added 888 BTC to his 101 Mizner Boca "Bitcoin Real Estate Hybrid Project," and the purchase of all related BTC has been completed.
Boyaa Interactive (00434.HK) announced that its profit attributable to shareholders for the first three quarters of this year was RMB 487 million, a significant increase of 108.34% year-on-year, with earnings per share of 71.73 cents. No dividend was declared. Non-IFRS adjusted net profit increased by 111.3% to RMB 503 million, while revenue increased slightly by 0.3% year-on-year to RMB 351 million. In the third quarter, the company recorded a profit attributable to shareholders of RMB 261 million, compared to a loss of RMB 79.298 million in the same period last year, with earnings per share of 37.99 cents. Non-IFRS adjusted net profit was RMB 263 million, compared to an adjusted loss of RMB 79.05 million in the same period last year. Quarterly revenue increased by 11.4% year-on-year to RMB 128 million. As of September 30, 2025, the Group held approximately 4,091 Bitcoins, with an average cost of approximately US$68,114 per Bitcoin, representing a Bitcoin growth rate of 15.1%.
Caixin: Qian Zhimin, the perpetrator of the 61,000 Bitcoin case, also holds XRP.
According to Caixin Weekly, the main suspect in the case, Qian Zhimin, submitted an access code for a confiscated device and the passwords for two encrypted wallets to the police while he was in custody in September 2025. As a result, the police discovered that in addition to the approximately 61,000 Bitcoins that had been frozen, he also held Bitcoins and XRP worth approximately £67 million.
