Justin Sun: Li Lin Once Concealed Due Diligence Materials, I Lent the Company $30 Million to Fill the Gap

SlowMist founder Yu Xian stated in a post that Lido’s 7-day average APR has jumped from 2.2% to 4.2% over the past two days. He pointed out that yesterday’s Binance hack sparked fierce on-chain competition, driving up Ethereum execution layer rewards and benefiting stETH holders as a result.

Data from Public Citizen shows crypto-related organizations have donated over $200 million in the current U.S. election cycle, aiming to influence the 2026 midterms and push Congress to pass industry-friendly regulatory rules. One of the industry’s top priorities is advancing comprehensive digital asset market structure legislation after the Clarity Act stalled. Fairshake and its affiliated super PAC are backing 33 House candidates, including 19 Republicans and 14 Democrats. Coinbase and Ripple each donated $25 million to Fairshake’s midterm efforts in 2025. The Ohio Senate race is a key battleground. Fairshake states it has spent $55 million in this election cycle opposing Democratic candidate Sherrod Brown, a long-time crypto industry critic, whose opponent is incumbent Republican Senator Jon Husted, a crypto supporter. Coinbase-founded advocacy group Stand With Crypto has endorsed 45 candidates, including 42 House candidates and 3 Senate candidates. The Clarity Act stalled in the Senate in September, with Democratic lawmakers arguing it is insufficient to prevent senior government officials from profiting from crypto activities. Reports note that if the bill cannot advance before the end of the year, the new Congress will need to restart work on market structure legislation. Coinbase Vice President Ryan VanGrack said that regardless of who is elected, the industry will still gain more regulatory clarity, but uncertainty remains over whether legislation will ultimately be finalized.

According to Onchain Lens monitoring, Galaxy Digital OTC transferred 47,000 HYPE tokens to OKX four hours ago, valued at approximately $4.06 million, and the move is suspected to be preparation for a sale.

Nasdaq-listed software company Next Technology Holding (NXTT) announced its board has authorized the sale of its disclosed holdings of roughly 5,833 Bitcoin, or the use of these BTC as collateral for financing, valued at approximately $449 million as of press time. The company cited the Binance hack, crypto exchange security vulnerabilities, and potential threats from quantum computing to Bitcoin’s cryptography as drivers for the decision, stressing that none of its Bitcoin are stored or held via Binance. Specific transaction timelines, prices, and volumes will be determined by CEO Weihong Liu. The authorization permits transactions via exchanges, over-the-counter deals, or Bitcoin collateral financing, though it does not guarantee any final transaction will be completed. NXTT’s market capitalization stood at around $7.8 million at Friday’s close, with its disclosed Bitcoin holdings worth over 50 times the firm’s market cap. The company’s annual report notes that nearly all its Bitcoin are held by a Japanese custodian, though the custodian’s name was not disclosed.

Leading domestic storage chip giant Changxin Technology has completed verification of its sixth-generation process technology platform for engineering samples. On October 30, Changxin Technology disclosed during its third-quarter earnings conference that, building on key breakthroughs in the 4F2 vertical channel DRAM (Dynamic Random Access Memory) architecture, the sixth-generation process technology platform has passed engineering sample validation. Per industry practice, completion of engineering sample verification means the platform’s core performance metrics have met design expectations on actual wafers, and after client-side validation, it can enter mass production phase. (The Paper)

Crypto journalist Eleanor Terrett reported that ICE has reissued its announcement of a partnership with Trade.xyz to introduce Hyperliquid-based perpetual contracts to the U.S. ICE’s deletion of the original post last night sparked mild panic among some X users, who worried the collaboration had been canceled. The revised announcement highlights more restrictive conditions: ICE “plans” to launch the related markets, and the move is “subject to regulatory approval.” Terrett speculates this may simply be due to the legal team’s extra caution.