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

Solana ecosystem liquidity protocol Meteora has announced an update to the DAMM v2 user interface, aimed at simplifying the liquidity position management process. The update integrates position creation, liquidity addition, and removal into a single panel, and adds a Max Slippage setting that users can adjust directly from the position panel. Additionally, the new interface supports splitting and transferring liquidity positions, further enhancing the flexibility of position management. Meteora noted that this update is the first step in its DAMM v2 UI optimization plan, with future improvements to be rolled out based on feedback from liquidity providers (LPs). Users can now experience the new interface via Meteora’s official application.

The Swiss Financial Market Supervisory Authority (FINMA) has approved Switzerland’s first spot Bitcoin ETF for retail investors. Unlike Switzerland’s existing Bitcoin-based exchange-traded products (ETPs), the new product adopts a regulated investment fund structure instead of a debt security format. The ETF will be subject to clearer requirements for custody, operational risk management, and information disclosure, marking a further advancement in the regulatory framework for Bitcoin investment products in Switzerland.

Bitcoin fell around 1% over the past 24 hours, while Ethereum dropped 1.4%. Weak Asian equities and rising oil prices intensified market pressure. QCP Capital analysts warned that if U.S. stocks continue to fall and trigger broader deleveraging, risks could spill over to the crypto market, and Bitcoin’s $80,000 support level may face a test. In terms of fund flows, U.S. spot Bitcoin ETFs recorded a net inflow of around $526.6 million on Monday, marking the highest level in a month. Among them, BlackRock’s IBIT saw a single-day net inflow of roughly $665.2 million, its largest daily inflow since October 2025; products from Fidelity and Grayscale, by contrast, posted outflows. In contrast, Ethereum spot ETFs saw a net outflow of $103.3 million, marking the fourth consecutive trading day of outflows, indicating recent buying demand is concentrated in Bitcoin rather than the broader crypto market. The macro environment remains under pressure: the U.S. 10-year Treasury yield stands at around 5.13%, Brent crude oil prices are near $110 per barrel, and rising energy prices have stoked inflation concerns. The Federal Reserve is expected to hold interest rates steady next week, but markets have priced in a 25 basis point rate hike next month. QCP noted that if U.S. Treasuries continue to rally, real yields fall, and the U.S. dollar weakens, it could provide support for risk assets; conversely, if U.S. stock sell-offs persist, Bitcoin’s $80,000 level will be a key watch point.

According to Reuters, ByteDance, Alibaba, and Tencent have ordered over 3 million NVIDIA RTX PRO 5500 workstation graphics cards. At an approximate price of $11,400 per card, the total order value exceeds $35 billion. This chip complies with U.S. export control requirements and is one of NVIDIA’s high-performance chips still available for purchase by Chinese buyers. Due to Chinese tech firms’ demand far outstripping NVIDIA’s planned production capacity, the company has informed clients and partners that it cannot guarantee full delivery. Sources say NVIDIA may only meet 5% to 10% of the requested quantity, and global production of RTX PRO 5500 cards is projected to not exceed 3 million units by 2027, while Chinese clients’ total orders have already surpassed 6 million units. The RTX PRO 5500 is targeted at professional workstations, with performance lower than data center chips like the H200 and B300 used for large-scale AI training and inference. Sources add that Chinese tech firms primarily plan to use these cards for AI inference—running trained models to generate outputs. As higher-performance chips remain subject to export restrictions and domestic AI computing power supplies are tight, alternative products that were previously less appealing are growing in popularity. On the supply side, NVIDIA is expected to provide early samples of the RTX PRO 5500 in December, with commercial delivery starting in the first quarter of 2027. However, starting in 2027, NVIDIA plans to allocate most of TSMC’s production capacity to its next-generation Rubin data center platform, which may further limit the supply of this graphics card. This round of orders highlights the continued strong demand for AI computing power in China amid U.S. export controls, and also reflects the supply-demand gap facing compliant alternative chips.

At the "Invest in Germany Summit" fireside chat held in Berlin, Nvidia CEO Jensen Huang told German Chancellor Merz that Nvidia has invested nearly $1 billion in Germany over the past year, and has become one of Germany’s major venture investors. Expressing confidence in Germany’s science, mathematics and startup ecosystem, Huang noted that roughly half of new companies founded in the past two years are AI firms, urging other investors to act quickly, otherwise high-quality projects will be "snatched up" by Nvidia.

Marko Baricevic, co-founder of Binary Builders — the former core maintenance team for Cosmos SDK — announced on social media that he will formally shut down Binary Builders, ending the firm’s independent operations. According to Marko, most members of the Binary Builders team have joined modular blockchain network Celestia. Marko himself has been involved in Celestia since the project’s early days, speaking highly of the team and expressing strong anticipation for their future collaborative work. However, Marko has opted not to join the team, choosing instead to take a break to recharge and explore new ideas. With the company’s closure, Binary Builders will no longer accept new projects, and its existing validator node business will be transitioned and handed over to Validatus in the coming weeks.