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

Solana Foundation Chair Lily Liu posted on X that the first Capital Markets Summit was held Thursday in Shanghai, China, where hundreds of asset allocators and builders from China and around the world gathered to discuss innovative capital formation. Liu also noted that the market capitalization of listed companies in China is only one-sixth that of comparable profitable firms in New York, with over 50,000 small and medium-sized enterprises (SMEs) waiting for IPO opportunities in the domestic market. Earlier reports indicate that Shanghai Yaokun Qiusuo Digital Technology Co., Ltd. was registered in August with a registered capital of RMB 10 million, and Shanghai Solana Enterprise Management Co., Ltd. holds a 45% stake in Yaokun Qiusuo Digital. Even Jiang, co-head of Solana Foundation China, serves as Yaokun Qiusuo’s chairman, while Du Yanjing is a director. Public information shows Yaokun Qiusuo’s main business covers technical services, development, consulting, exchange, transfer and promotion; computer system services; information system integration; IT consulting; data processing; internet data services; IoT technology services; wholesale of computer software, hardware and auxiliary equipment; information consulting (excluding licensed consulting services); enterprise management consulting; financial consulting; conference and exhibition services (overseas exhibitions require approval from relevant authorities). It should be emphasized that "Solana" is a name adopted by a sole proprietorship, and there is currently no equity evidence linking these two companies to the Solana Foundation.

Crypto podcast host Andy (@andyyy) teased in a post that a major AI product or feature will launch in the coming days, targeting institutional on-chain asset management with built-in risk strategies. The product has reportedly run pilots with several funds and asset management institutions. Andy previously accurately predicted the SEC’s crypto exemption policy a week in advance.

Tesla's next-generation Roadster made its debut yesterday, with the vehicle performing stunts including inverted climbing, mid-air flips, and jumping over cars during a demo, leveraging SpaceX's cold gas propulsion and underbody suction system. It accelerated from 0 to 60 mph in under 1 second, drawing widespread attention. OpenAI CEO Sam Altman immediately posted on X to congratulate: "The new Roadster looks absolutely stunning, well done Musk." As long-time public rivals, the community was quite surprised by Altman's comment. In response, Musk did not offer a warm direct thanks; instead, in the related discussion thread, he replied "Indeed" to jokes about whether he had canceled Altman's prior canceled order, with a restrained yet teasing tone. The two had prior public disputes over the Roadster. At the end of 2025, Altman posted that he had reserved the vehicle for nearly 7.5 years without delivery, requesting a refund of around $50,000 in deposits, and shared relevant emails. Musk responded that the refund was actually processed quickly, while bringing up OpenAI-related controversies again. This congratulatory post and Musk's calm response have reignited public speculation about the pair's relationship, though their core conflicts have not been resolved.

AI stock guru Leopold’s fund Situational Awareness will disclose its third-quarter stock holdings on November 16. The fund reportedly posted a 439% return in the first half of this year, with major bets on SanDisk (SNDK) and Micron (MU), and used around 4x leverage. However, a sharp slump in AI-related stocks in July caused its portfolio to drop roughly 67% in a single month. Subsequently, the fund sold most of its public stock positions, a significant portion of which was acquired by Citadel.

Elon Musk stated that the government efficiency department (DOGE) reform he led ultimately came to nothing, proving "we simply cannot solve the fiscal deficit problem from within the government at all." Musk emphasized that "the only way to address the U.S. national debt is through artificial intelligence and robots," adding that "austerity measures alone cannot fix this problem." His remarks effectively acknowledge that the DOGE reform failed to meet expectations, while also suggesting a future administration could leverage increasingly capable AI to attempt resolving the issue again. Musk noted that neither the president, the House of Representatives, the Senate, nor the judiciary has the willingness to cut spending. He admitted he "went too far in some respects," having spent too much time away from his companies. "I should have stayed more behind the scenes... and this effort could have lasted just one or two months, rather than the four months I actually spent formally serving at the White House. I should have returned earlier to refocus on artificial intelligence," he said. (AXIOS)

Hyperliquid’s STRK contract is currently trading at $0.0665, down approximately 13% from the prior day’s reference price. Two whale addresses holding STRK long positions have incurred large unrealized and liquidation losses respectively. The largest STRK long address, 0xd978…2fd9, holds around 64.2 million STRK in long positions, with a position value of roughly $4.25 million, using 5x cross leverage, and currently has an unrealized loss of about $1.019 million, resulting in a position return of approximately -96%. Separately, the STRK long positions of address 0x3392…d367 were liquidated tonight: around 21.36 million tokens were forcibly closed, valued at ~$1.466 million, with a realized loss of ~$207,000. The address subsequently opened ~4.79 million new STRK long positions, with a latest position value of ~$319,000, using 5x isolated leverage, and a liquidation price of ~$0.059.