老k
190 Posts
老k
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Block User
生命的厚重总是要时间去感受，所以还是活得长点会更好。
High-Frequency Trader
3.7 Years
55 Following
134 Followers
77 Liked
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Article
Anxiety in the tech industry is mounting as OpenAI cuts its fundraising target by $10 billion. Does this signal that the industry has peaked, or is it a mid-cycle correction?OpenAI lowered its fundraising target from $30 billion to about $20 billion, while its valuation fell from $1.4 trillion to $1.25 trillion. This signal alone is not enough to conclude that “the industry has peaked,” but it clearly marks a shift in phase: from one driven by narratives and unconditional investor enthusiasm to one focused on cash flow and returns. A more accurate characterization is a mid-cycle correction and valuation reset, rather than a peak signaling the end of the cycle.
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Why this is not an “absolute peak”: three pillars that have yet to crack
① Demand has not deteriorated. Earnings reports for the same period show that Google Cloud revenue grew 103% year over year, AWS posted its fastest growth in nearly five years, and their backlogs reached as much as $561 billion and $578 billion, respectively. Demand is real. The question is not “Is anyone using AI?” but “When will the money it makes cover the money being burned?”
Anxiety in the tech industry is mounting as OpenAI cuts its fundraising target by $10 billion. Does this signal that the industry has peaked, or is it a mid-cycle correction?
OpenAI lowered its fundraising target from $30 billion to about $20 billion, while its valuation fell from $1.4 trillion to $1.25 trillion. This signal alone is not enough to conclude that “the industry has peaked,” but it clearly marks a shift in phase: from one driven by narratives and unconditional investor enthusiasm to one focused on cash flow and returns. A more accurate characterization is a mid-cycle correction and valuation reset, rather than a peak signaling the end of the cycle.
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Why this is not an “absolute peak”: three pillars that have yet to crack
① Demand has not deteriorated. Earnings reports for the same period show that Google Cloud revenue grew 103% year over year, AWS posted its fastest growth in nearly five years, and their backlogs reached as much as $561 billion and $578 billion, respectively. Demand is real. The question is not “Is anyone using AI?” but “When will the money it makes cover the money being burned?”
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Why this is not an “absolute peak”: three pillars that have yet to crack
① Demand has not deteriorated. Earnings reports for the same period show that Google Cloud revenue grew 103% year over year, AWS posted its fastest growth in nearly five years, and their backlogs reached as much as $561 billion and $578 billion, respectively. Demand is real. The question is not “Is anyone using AI?” but “When will the money it makes cover the money being burned?”
OPENAI+0.09%
GOOGUS-0.86%
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#币安神算子 Still gotta go all in—can't give up this art! Besides, it's free, so there's no pressure. Basketball games can be full of upsets too.
#币安神算子 Still gotta go all in—can't give up this art! Besides, it's free, so there's no pressure. Basketball games can be full of upsets too.
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My agent just joined #IAO, the Initial Agent Offering. https://ptah.trade/iao Agent #26998
My agent just joined #IAO, the Initial Agent Offering. https://ptah.trade/iao Agent #26998
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Reporting in, boss: the Binance attack is complete ✅ The funding shortfall has finally been covered.
What’s next? 👽
Everyone, take a guess.
Reporting in, boss: the Binance attack is complete ✅ The funding shortfall has finally been covered.
What’s next? 👽
Everyone, take a guess.
What’s next? 👽
Everyone, take a guess.
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The ETH hacker has already started selling off, so you can start positioning yourself in altcoins, since the hacker had already converted all their altcoins into Ethereum.
The ETH hacker has already started selling off, so you can start positioning yourself in altcoins, since the hacker had already converted all their altcoins into Ethereum.
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Article
Now There's Another Traditional Skill to Learn: Hand-Building a Hardware WalletThe key issue is an urgent warning from renowned hardware wallet maker Trezor about a serious security vulnerability (a hardware Trojan) caused by a third-party distributor.
Here is an analysis of the incident:
I. Core Incident Overview
· Device involved: Trezor Safe 5 hardware wallet.
· Channel involved: Cryptobilis, an official Southeast Asian distributor (sold via the Indonesian e-commerce platform Tokopedia).
· Attack method: A physical supply-chain attack. A malicious circuit board equipped with a cellular network module and antenna was implanted inside the device.
· Impact: The module could read the screen contents (including highly sensitive recovery phrases) and exfiltrate the data over a mobile network when the device was powered on.
Now There's Another Traditional Skill to Learn: Hand-Building a Hardware Wallet
The key issue is an urgent warning from renowned hardware wallet maker Trezor about a serious security vulnerability (a hardware Trojan) caused by a third-party distributor.
Here is an analysis of the incident:
I. Core Incident Overview
· Device involved: Trezor Safe 5 hardware wallet.
· Channel involved: Cryptobilis, an official Southeast Asian distributor (sold via the Indonesian e-commerce platform Tokopedia).
· Attack method: A physical supply-chain attack. A malicious circuit board equipped with a cellular network module and antenna was implanted inside the device.
· Impact: The module could read the screen contents (including highly sensitive recovery phrases) and exfiltrate the data over a mobile network when the device was powered on.
Here is an analysis of the incident:
I. Core Incident Overview
· Device involved: Trezor Safe 5 hardware wallet.
· Channel involved: Cryptobilis, an official Southeast Asian distributor (sold via the Indonesian e-commerce platform Tokopedia).
· Attack method: A physical supply-chain attack. A malicious circuit board equipped with a cellular network module and antenna was implanted inside the device.
· Impact: The module could read the screen contents (including highly sensitive recovery phrases) and exfiltrate the data over a mobile network when the device was powered on.
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Once everything is clear, you can add to your position based on your own circumstances.
Once everything is clear, you can add to your position based on your own circumstances.
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Bitcoin and Ethereum are trying for a small rebound, but everyone’s pretty much numb to it by now.
Just enjoy life and have fun—trading may have become the spiritual opium for many of us here.
Bitcoin and Ethereum are trying for a small rebound, but everyone’s pretty much numb to it by now.
Just enjoy life and have fun—trading may have become the spiritual opium for many of us here.
Just enjoy life and have fun—trading may have become the spiritual opium for many of us here.
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#币安神算子 Lately, Binance’s “Oracle” event has really got everyone hooked—almost everyone in the community is taking part.
I’ve tried it myself over the past couple of days. Predicting the market is all about timing: sometimes you guess right and make a profit, sometimes you miss the move and take a loss. Overall, it’s about break-even. Honestly, I haven’t made a big profit, but I haven’t lost either. There are no complicated requirements; you only use points to participate, with no capital at risk.
It’s all about market instinct and luck as you climb the rankings and compete for the prize pool. Join in casually—the main thing is getting free rewards.
#币安神算子 Lately, Binance’s “Oracle” event has really got everyone hooked—almost everyone in the community is taking part.
I’ve tried it myself over the past couple of days. Predicting the market is all about timing: sometimes you guess right and make a profit, sometimes you miss the move and take a loss. Overall, it’s about break-even. Honestly, I haven’t made a big profit, but I haven’t lost either. There are no complicated requirements; you only use points to participate, with no capital at risk.
It’s all about market instinct and luck as you climb the rankings and compete for the prize pool. Join in casually—the main thing is getting free rewards.
I’ve tried it myself over the past couple of days. Predicting the market is all about timing: sometimes you guess right and make a profit, sometimes you miss the move and take a loss. Overall, it’s about break-even. Honestly, I haven’t made a big profit, but I haven’t lost either. There are no complicated requirements; you only use points to participate, with no capital at risk.
It’s all about market instinct and luck as you climb the rankings and compete for the prize pool. Join in casually—the main thing is getting free rewards.
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I took a nap and all my stop-loss orders were triggered. The security issues brought on by AI are everywhere now—it's all stolen messages.
I guess I'll have to train my own dedicated AI security advisor from now on.
I took a nap and all my stop-loss orders were triggered. The security issues brought on by AI are everywhere now—it's all stolen messages.
I guess I'll have to train my own dedicated AI security advisor from now on.
I guess I'll have to train my own dedicated AI security advisor from now on.
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Jagent is a meme token on Binance that can only be minted by agent ID. It’s similar to the inscription token SATS. The total supply is 4.44 million tokens, and the price increases by 1U for every 40,000 tokens minted. Once all tokens have been minted, the market cap will be 400 million. Early participants can potentially turn 1U into 10,000U.
Jagent Minting Guide
Each ID can mint 10 tokens. The current cost is 2.32U per token.
Based on the same narrative as the SATS inscription, the project claims that early participants could see returns of up to 10,000x once all tokens have been minted.
Steps
1. Create an agent ID in Binance Wallet
If you don’t have a Binance Wallet yet, click the link to sign up:
https://web3.binance.com/referral?ref=PP06NWOP (a VPN is required)
2. Open Binance Agentic Wallet
In Binance Wallet, tap More and scroll down to Tools to find it, then enable Developer Mode.
3. On another phone or computer, open the website: jager.live
Then tap Connect Wallet to display a QR code.
4. On the first device, where you’re logged in to Agentic Wallet, tap the scan icon in the upper-right corner and scan the QR code.
5. Return to the website and tap MINT.
Jagent is a meme token on Binance that can only be minted by agent ID. It’s similar to the inscription token SATS. The total supply is 4.44 million tokens, and the price increases by 1U for every 40,000 tokens minted. Once all tokens have been minted, the market cap will be 400 million. Early participants can potentially turn 1U into 10,000U.
Jagent Minting Guide
Each ID can mint 10 tokens. The current cost is 2.32U per token.
Based on the same narrative as the SATS inscription, the project claims that early participants could see returns of up to 10,000x once all tokens have been minted.
Steps
1. Create an agent ID in Binance Wallet
If you don’t have a Binance Wallet yet, click the link to sign up:
https://web3.binance.com/referral?ref=PP06NWOP (a VPN is required)
2. Open Binance Agentic Wallet
In Binance Wallet, tap More and scroll down to Tools to find it, then enable Developer Mode.
3. On another phone or computer, open the website: jager.live
Then tap Connect Wallet to display a QR code.
4. On the first device, where you’re logged in to Agentic Wallet, tap the scan icon in the upper-right corner and scan the QR code.
5. Return to the website and tap MINT.
Jagent Minting Guide
Each ID can mint 10 tokens. The current cost is 2.32U per token.
Based on the same narrative as the SATS inscription, the project claims that early participants could see returns of up to 10,000x once all tokens have been minted.
Steps
1. Create an agent ID in Binance Wallet
If you don’t have a Binance Wallet yet, click the link to sign up:
https://web3.binance.com/referral?ref=PP06NWOP (a VPN is required)
2. Open Binance Agentic Wallet
In Binance Wallet, tap More and scroll down to Tools to find it, then enable Developer Mode.
3. On another phone or computer, open the website: jager.live
Then tap Connect Wallet to display a QR code.
4. On the first device, where you’re logged in to Agentic Wallet, tap the scan icon in the upper-right corner and scan the QR code.
5. Return to the website and tap MINT.
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$XPIN just woke up..
A strong expansion candle is forming 💥
Next target: 0.001... 🎯 Don't miss it.🟢
$XPIN just woke up..
A strong expansion candle is forming 💥
Next target: 0.001... 🎯 Don't miss it.🟢
A strong expansion candle is forming 💥
Next target: 0.001... 🎯 Don't miss it.🟢
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If you have any forgotten assets, you can check here:
https://nightshift.fans/claim/
If you have any forgotten assets, you can check here:
https://nightshift.fans/claim/
https://nightshift.fans/claim/
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CRCL’s trend is unclear—not because the chart is ambiguous, but because the key variables at the heart of its business model remain unresolved.
The bullish case implicitly assumes that Circle can trade near-term margins for continued growth in USDC market share, and that the Arc network and institutional infrastructure will ultimately transform its revenue mix from “a narrow bank earning interest on reserves” into “a toll collector on stablecoin settlement rails.” Citi’s $243 and Monness’s $175 price targets are essentially pricing in this second-stage transformation.
The bearish case implicitly assumes that USDC cannot grow its market share profitably under pressure from Tether, and that a falling-rate cycle will compress reserve income at the same time, while Arc’s commercialization progress will be insufficient to make up the shortfall. Wolfe Research’s $65 price target and Mizuho’s “Sell” rating are pricing in the view that “Circle is just a narrow bank with locked-in margins.”
Both scenarios find support in the current financial data: FY2026 revenue is forecast at $30.2 billion, up 10% year over year, but EPS is expected to fall from $2.35 to $1.15, a 51% decline. Revenue is growing while profits are shrinking—this is the financial mirror image of a “trade margins for market share” strategy. Until data confirm a turning point at which EPS bottoms and starts to recover, the trend will remain unclear.
Near-term support is around 78; cut losses if it breaks below the range. Resistance at 88–90 is also substantial.
CRCL’s trend is unclear—not because the chart is ambiguous, but because the key variables at the heart of its business model remain unresolved.
The bullish case implicitly assumes that Circle can trade near-term margins for continued growth in USDC market share, and that the Arc network and institutional infrastructure will ultimately transform its revenue mix from “a narrow bank earning interest on reserves” into “a toll collector on stablecoin settlement rails.” Citi’s $243 and Monness’s $175 price targets are essentially pricing in this second-stage transformation.
The bearish case implicitly assumes that USDC cannot grow its market share profitably under pressure from Tether, and that a falling-rate cycle will compress reserve income at the same time, while Arc’s commercialization progress will be insufficient to make up the shortfall. Wolfe Research’s $65 price target and Mizuho’s “Sell” rating are pricing in the view that “Circle is just a narrow bank with locked-in margins.”
Both scenarios find support in the current financial data: FY2026 revenue is forecast at $30.2 billion, up 10% year over year, but EPS is expected to fall from $2.35 to $1.15, a 51% decline. Revenue is growing while profits are shrinking—this is the financial mirror image of a “trade margins for market share” strategy. Until data confirm a turning point at which EPS bottoms and starts to recover, the trend will remain unclear.
Near-term support is around 78; cut losses if it breaks below the range. Resistance at 88–90 is also substantial.
The bullish case implicitly assumes that Circle can trade near-term margins for continued growth in USDC market share, and that the Arc network and institutional infrastructure will ultimately transform its revenue mix from “a narrow bank earning interest on reserves” into “a toll collector on stablecoin settlement rails.” Citi’s $243 and Monness’s $175 price targets are essentially pricing in this second-stage transformation.
The bearish case implicitly assumes that USDC cannot grow its market share profitably under pressure from Tether, and that a falling-rate cycle will compress reserve income at the same time, while Arc’s commercialization progress will be insufficient to make up the shortfall. Wolfe Research’s $65 price target and Mizuho’s “Sell” rating are pricing in the view that “Circle is just a narrow bank with locked-in margins.”
Both scenarios find support in the current financial data: FY2026 revenue is forecast at $30.2 billion, up 10% year over year, but EPS is expected to fall from $2.35 to $1.15, a 51% decline. Revenue is growing while profits are shrinking—this is the financial mirror image of a “trade margins for market share” strategy. Until data confirm a turning point at which EPS bottoms and starts to recover, the trend will remain unclear.
Near-term support is around 78; cut losses if it breaks below the range. Resistance at 88–90 is also substantial.
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Discord will allow search engines such as Google to crawl and search channel messages in “public servers.”
2. Effective dates:
· Starting November 16: Web pages will be created for eligible servers.
· Starting in mid-December: Messages will officially appear in search engine results.
3. Eligibility: Only public servers with at least 1,000 members that anyone can join without an invitation.
4. User privacy and control:
· Turn it off: Users can disable the “Show my message content on the web” option under “User Settings” → “Data & Privacy.”
· Safeguards: Usernames and avatars will not be made public alongside messages.
5. Important notes:
· Not retroactive: Messages posted before this feature launches will not be searchable.
· Settings are not retroactive: Turning off this option only applies to messages posted afterward. If you previously posted messages you want to keep private, you must delete them manually to request their removal.
Discord will allow search engines such as Google to crawl and search channel messages in “public servers.”
2. Effective dates:
· Starting November 16: Web pages will be created for eligible servers.
· Starting in mid-December: Messages will officially appear in search engine results.
3. Eligibility: Only public servers with at least 1,000 members that anyone can join without an invitation.
4. User privacy and control:
· Turn it off: Users can disable the “Show my message content on the web” option under “User Settings” → “Data & Privacy.”
· Safeguards: Usernames and avatars will not be made public alongside messages.
5. Important notes:
· Not retroactive: Messages posted before this feature launches will not be searchable.
· Settings are not retroactive: Turning off this option only applies to messages posted afterward. If you previously posted messages you want to keep private, you must delete them manually to request their removal.
2. Effective dates:
· Starting November 16: Web pages will be created for eligible servers.
· Starting in mid-December: Messages will officially appear in search engine results.
3. Eligibility: Only public servers with at least 1,000 members that anyone can join without an invitation.
4. User privacy and control:
· Turn it off: Users can disable the “Show my message content on the web” option under “User Settings” → “Data & Privacy.”
· Safeguards: Usernames and avatars will not be made public alongside messages.
5. Important notes:
· Not retroactive: Messages posted before this feature launches will not be searchable.
· Settings are not retroactive: Turning off this option only applies to messages posted afterward. If you previously posted messages you want to keep private, you must delete them manually to request their removal.
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Article
Polygon CDK BesuThe essence of Polygon CDK Besu is an attempt to formally bridge the “absolute control of private chains” with the “liquidity network of public chains.” Its core innovation lies not in Besu or QBFT, but in using Agglayer’s pessimistic proof mechanism to address the trust problem in cross-chain settlement, while recognizing that “execution-layer privacy cannot be compromised.” Its strategic ambition is to become a neutral settlement connector for institutional-grade tokenized assets, rather than replace Besu or become another public chain.
Technical architecture: the “institutional decoupling” of execution and settlement
Polygon CDK Besu
The essence of Polygon CDK Besu is an attempt to formally bridge the “absolute control of private chains” with the “liquidity network of public chains.” Its core innovation lies not in Besu or QBFT, but in using Agglayer’s pessimistic proof mechanism to address the trust problem in cross-chain settlement, while recognizing that “execution-layer privacy cannot be compromised.” Its strategic ambition is to become a neutral settlement connector for institutional-grade tokenized assets, rather than replace Besu or become another public chain.
Technical architecture: the “institutional decoupling” of execution and settlement
Technical architecture: the “institutional decoupling” of execution and settlement
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Article
A classic compliance battle between traditional finance and crypto finance over “issuer control” and “market access rules” in the tokenization of stocks.The heart of the issue: OKX and ICE’s “third-party tokenization” plan
OKX and Intercontinental Exchange (ICE, the parent company of the NYSE) formed a joint venture, OKXICE, and plan to use the five-year innovation exemption framework introduced by the SEC on September 17, 2026, to tokenize 63 U.S. stocks on-chain. The framework allows platforms to trade tokenized stocks without registering as traditional exchanges, but requires them to notify the issuing companies in writing before listing and wait 30 calendar days. If an issuer objects in writing during that period, the platform cannot list the stock.
🎯 Why are companies opposed? The core dispute is over “control” and “default consent”
A classic compliance battle between traditional finance and crypto finance over “issuer control” and “market access rules” in the tokenization of stocks.
The heart of the issue: OKX and ICE’s “third-party tokenization” plan
OKX and Intercontinental Exchange (ICE, the parent company of the NYSE) formed a joint venture, OKXICE, and plan to use the five-year innovation exemption framework introduced by the SEC on September 17, 2026, to tokenize 63 U.S. stocks on-chain. The framework allows platforms to trade tokenized stocks without registering as traditional exchanges, but requires them to notify the issuing companies in writing before listing and wait 30 calendar days. If an issuer objects in writing during that period, the platform cannot list the stock.
🎯 Why are companies opposed? The core dispute is over “control” and “default consent”
OKX and Intercontinental Exchange (ICE, the parent company of the NYSE) formed a joint venture, OKXICE, and plan to use the five-year innovation exemption framework introduced by the SEC on September 17, 2026, to tokenize 63 U.S. stocks on-chain. The framework allows platforms to trade tokenized stocks without registering as traditional exchanges, but requires them to notify the issuing companies in writing before listing and wait 30 calendar days. If an issuer objects in writing during that period, the platform cannot list the stock.
🎯 Why are companies opposed? The core dispute is over “control” and “default consent”
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As long as inflation hasn’t subsided, let’s stay calm. Trying to squeeze profits out of every little detail is a lot of effort for very little reward.
The real opportunity worth treasuring as traders is when the major trend arrives. Small swings leave little room to maneuver. We just need to catch the most important big move and get it done in a single trade—isn’t that better...?
As long as inflation hasn’t subsided, let’s stay calm. Trying to squeeze profits out of every little detail is a lot of effort for very little reward.
The real opportunity worth treasuring as traders is when the major trend arrives. Small swings leave little room to maneuver. We just need to catch the most important big move and get it done in a single trade—isn’t that better...?
The real opportunity worth treasuring as traders is when the major trend arrives. Small swings leave little room to maneuver. We just need to catch the most important big move and get it done in a single trade—isn’t that better...?
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Verified
If you haven’t joined in yet, give it a try—$30 is still a pretty nice haul.
I took a look, and Ptah seems to be aiming for more than just launching another meme coin. First, it gives you a Binance Agent ID to prove you showed up as an agent. Then you can use that identity to mint cards on-chain, post, and mine. Your identity, actions, and ongoing participation all build on each other, step by step.
Of course, bigger things are still being gradually laid out at https://ptah.trade/poa: a Launchpad, identity-based access, chatting in your wallet (this feature isn’t live yet), and a process where the community suggests ideas and the platform picks which new features to build.
The team is also very upfront about it: this is an independent project with no Binance endorsement, and an .ai name alone can’t prove you’re the one and only real person. So POA is more like an early-entry pass—a way to leave a mark for the first people brave enough to bring their agents on-chain, while also guiding them into the ecosystem. That’s an interesting idea, isn’t it!
Agent #26998 #ProofOfAgent ptah.trade/poa
If you haven’t joined in yet, give it a try—$30 is still a pretty nice haul.
I took a look, and Ptah seems to be aiming for more than just launching another meme coin. First, it gives you a Binance Agent ID to prove you showed up as an agent. Then you can use that identity to mint cards on-chain, post, and mine. Your identity, actions, and ongoing participation all build on each other, step by step.
Of course, bigger things are still being gradually laid out at https://ptah.trade/poa: a Launchpad, identity-based access, chatting in your wallet (this feature isn’t live yet), and a process where the community suggests ideas and the platform picks which new features to build.
The team is also very upfront about it: this is an independent project with no Binance endorsement, and an .ai name alone can’t prove you’re the one and only real person. So POA is more like an early-entry pass—a way to leave a mark for the first people brave enough to bring their agents on-chain, while also guiding them into the ecosystem. That’s an interesting idea, isn’t it!
Agent #26998 #ProofOfAgent ptah.trade/poa
I took a look, and Ptah seems to be aiming for more than just launching another meme coin. First, it gives you a Binance Agent ID to prove you showed up as an agent. Then you can use that identity to mint cards on-chain, post, and mine. Your identity, actions, and ongoing participation all build on each other, step by step.
Of course, bigger things are still being gradually laid out at https://ptah.trade/poa: a Launchpad, identity-based access, chatting in your wallet (this feature isn’t live yet), and a process where the community suggests ideas and the platform picks which new features to build.
The team is also very upfront about it: this is an independent project with no Binance endorsement, and an .ai name alone can’t prove you’re the one and only real person. So POA is more like an early-entry pass—a way to leave a mark for the first people brave enough to bring their agents on-chain, while also guiding them into the ecosystem. That’s an interesting idea, isn’t it!
Agent #26998 #ProofOfAgent ptah.trade/poa
4
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