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

Last week, US tech stocks saw a sharp pullback, with the Nasdaq down over 4% for the week. While digesting stronger-than-expected inflation data, markets are re-examining the "unbreakable economy" narrative. The Federal Reserve has entered the pre-FOMC meeting blackout period ahead of the Oct 28 policy meeting, with no official remarks. This week’s asset pricing will hinge more on tech giants’ earnings and economic data: Meta and Tesla will release results, while the semiconductor and storage sectors also enter their earnings disclosure window. Friday’s preliminary PMI readings for the US and Europe, plus the final Michigan consumer confidence index, will test the interest rate hike path. Geopolitically, Trump has suspended full-scale sanctions and tariffs on Russia, setting a roughly 60-day review period. Disruptions to shipping in the Strait of Hormuz and rising Middle East tensions continue to support oil price premiums. Key events this week: Tuesday: NVIDIA GTC Berlin kicks off (runs through Oct 22) Wednesday: US API and EIA crude oil inventories for the week ended Oct 16; NVIDIA CEO Jensen Huang delivers a keynote at GTC Berlin in the evening (Beijing time); US stocks enter a heavy earnings day, with Meta, Tesla, IBM, and Lam Research reporting results after market close Thursday: US initial jobless claims for the week ended Oct 17; Nokia reports earnings before the US market opens, while Western Digital and MaxLinear report after close Friday: Preliminary S&P Global US manufacturing and services PMI for October; final University of Michigan consumer confidence index and 1-year inflation expectations for October; September CPI and preliminary composite/manufacturing/services PMI for Japan, as markets gauge price trends ahead of the Bank of Japan’s Oct 30 policy meeting

HIP-3 market deployer Paragon announced that Papertrade (PAPER) perpetual contracts have launched on the Hyperliquid HIP-3 market, with a maximum leverage of 3x. PAPER is currently trading at $0.012.

Paragon, the deployer of the HIP-3 market, announced that Papertrade (PAPER) perpetual contracts have launched on the Hyperliquid HIP-3 market, with a maximum leverage of 3x.

Beating AI Express, Anthropic has revealed that approximately 90% of Claude Code’s code is written by Claude. From June to September this year, the number of pull requests (PRs) merged by the Claude Code team more than doubled, while the proportion of PRs needing reversion dropped by over 40%. To keep pace with AI’s coding speed, Anthropic has revamped its code review process: before each commit, Claude runs tests first and has independent sub-agents inspect changes; after submission, multiple agents hunt for bugs in parallel, followed by cross-validation from another set of agents. Security reviews and automated tests also block problematic code from merging. Human reviews are tiered by risk: low-risk changes like documentation updates from trusted developers can be merged directly after passing automated checks; regular product modifications require one human approval, while high-risk code changes need two. AI approval cannot replace human oversight, and developers remain responsible for the final code. However, AI reviews can get stuck in loops. Anthropic disclosed that one Claude Code modification went through over 50 rounds of review and fixes overnight. The team found about 59% of the issues stemmed from code that existed during the first review, not new problems introduced by later changes. The team subsequently adjusted rules: if a change goes through more than three rounds of review, the author must reevaluate their approach, and repeated feedback is limited to prevent agents from getting stuck in back-and-forth loops.

Cysic Foundation announced that a security incident occurred on its cross-chain bridge on October 17, during which an attacker minted 10 million CYS tokens on BNB Smart Chain without authorization. After detecting anomalies, the project team has suspended the cross-chain bridge, placed relevant addresses on an on-chain blacklist, and hired a professional security firm to investigate the attack path and fund flows. Preliminary investigations indicate the attacker gained unauthorized access to the database supporting the cross-chain bridge service and exploited a vulnerability in the processing logic to submit fake minting requests. The incident only impacted the cross-chain bridge's message processing and minting functions; Cysic's mainnet and other operational systems remain unaffected, and no user assets have been stolen. As of press time, the relevant addresses still hold approximately 2.8 million CYS, which have been restricted from transfer. The project team noted that the 10 million CYS minted does not equate to final dollar losses; actual losses and follow-up fund tracking results are still under verification, and the cross-chain bridge will be reopened only after security reviews are completed. Per HTX market data, Cysic (CYS) is trading at $0.118, down 6.2% in 24 hours, with a market cap of $19 million.

Crypto analyst Darkfost stated in a post that since the end of August, mid-cap and small-cap tokens have posted the strongest market capitalization growth. Data shows the gap between the annual average and monthly average market cap of these assets has continued to widen, with the current ratio reaching 41%. By contrast, Bitcoin’s growth trend is positive but limited, standing at only 7%, while large-cap assets have an even lower ratio of 3.5%. The analyst pointed out this is a quite rare phenomenon. Normally, Bitcoin drives market trends, as was clearly seen in the period after the end of the 2023 bear market. However, mid-cap and small-cap tokens are more sensitive to market funds and sentiment, and their trends may reverse rapidly in either direction in the short term. Investors need to be alert to the high volatility risks brought by this structural feature.