Bitcoin Bounces Back Above $112,000, 24-hour Losses Narrow to 7.6%

Binance founder CZ will inaugurate the inaugural Proof of Talk Gulf Summit at the Louvre Abu Dhabi on December 3-4. This marks the first time the Louvre Abu Dhabi has hosted a summit centered on digital assets and artificial intelligence. The event will focus on tokenization, stablecoins, and AI applications in financial markets, and is expected to convene executives from global banks, asset management firms, and digital asset companies. Confirmed attendees include Franklin Templeton CEO Jenny Johnson, Binance CEO Richard Teng, Coinbase Institutional Co-CEO Brett Tejpaul, plus representatives from the National Bank of the UAE, Wio Bank, and the Abu Dhabi Investment Council. The summit will feature 120 speakers, with a maximum attendance cap of 2,000. It operates on an application-only basis—no tickets or speaking slots are sold—with applications due by November 22. Additionally, the event will host a closed-door stablecoin roundtable and a startup competition to explore stablecoin applications in banking, payments, and settlement.

The French National Assembly voted 458 in favor, 0 against, and 2 abstentions to reject the revenue portion of the 2027 national budget, temporarily invalidating three previously passed cryptocurrency-related amendments. The government will submit the original budget text, which excludes these amendments, to the Senate. The three amendments cover: including gains from crypto-to-stablecoin conversions in the tax base; requiring taxpayers to report self-custodied crypto assets worth at least €100,000; and increasing fines for crypto platforms that fail to provide required tax information from €10,000 to €50,000. The proposals still have an opportunity to be reintroduced during the Senate’s review phase, but would need to pass subsequent budget legislative procedures to take effect. The French Senate is scheduled to start reviewing the budget on November 20, with discussions on the specific provisions of the revenue section set for November 23.

Beating AI News: Moonshot AI officially launches Kimi Hosted Agents, packaging the entire AI Agent runtime framework into a cloud service. Previously, when enterprises called model APIs, they had to set up their own runtime environments, arrange tool calls, save task progress, and handle disconnections and failure retries. Now Kimi takes over these tasks: enterprises only need to configure tasks and integrate data to deploy Agents into their own business systems for continuous operation. For example, for fund reconciliation, Kimi provides a ready-made solution with three specialized Agents: one reads external statements, another verifies internal accounts, and the third independently reviews discrepancies to generate an anomaly report. Actual account modifications still require manual approval. Other templates cover investment research modeling, Hong Kong IPO tracking, regulatory enforcement daily reports, and more. The platform currently offers 12 Agent templates, over 140 Skills, and more than 30 plugins, and also supports enterprises integrating their own databases and tools. Anthropic launched Claude Managed Agents back in April this year, which also hosts Agent runtime environments, task states, and tool calls for developers. Google released the Antigravity Harness-based Managed Agents API in May, OpenAI launched its Codex-based Agents API, and Microsoft rolled out the Copilot Harness managed service at the end of October. All these products help developers avoid building their own Agent underlying frameworks, making it easier for AI to integrate into real business operations.

Insight Beating AI Flash News: Google announced that Gemini API’s Computer Use tool has concluded its preview phase and is now officially available. Compared to the previous preview version, there are no major changes to its features or interfaces; the primary improvement is enhanced stability for production environments. This tool enables AI to identify screen content via screenshots, then generate operation commands such as clicks, inputs, and scrolls. Developers’ programs execute these operations and send new screenshots back to the model, allowing the AI to continue completing tasks. Examples include automatically filling out web forms, testing website functionalities, or collecting information across multiple websites.

According to Bloomberg, Micron Technology has largely suspended plans to build a new memory chip plant in Taoyuan, Taiwan, due to ongoing labor disputes with employee unions. The project carries an investment budget of $3 billion to $4.5 billion and was originally slated to begin operations in 2028. Sources familiar with the matter noted Micron fears the prior union agreement could be overturned, with only minimal site security maintenance work ongoing and construction set to freeze shortly. The dispute arises from employees’ demands to share profit growth driven by the AI boom: the Taoyuan union is pushing for Micron to allocate 15% of its operating profit to global staff, and wants all-cash bonuses instead of a portion in stock. While Micron struck a deal with the larger Taichung union in October, some employees are unhappy with the terms, and the Taoyuan union is seeking to expand its membership to push for renegotiations. The planned facility was set to produce high-bandwidth memory (HBM) and DRAM, using advanced equipment from ASML. Taiwan currently accounts for around 60% of Micron’s DRAM output, serves as a key HBM production base, and employs about 15,000 people there. The suspension could disrupt Micron’s long-term expansion plans in Taiwan and add uncertainty to the already tight AI memory chip market. Micron stated its existing operations in Taiwan are normal and it will ensure customer business continuity, but did not directly comment on the Taoyuan project halt. Taiwan’s economic affairs department said the government will assist Micron in resolving differences with the union and advance the investment plan.

According to BIT Stock Platform data, pre-market trading in US stocks saw broad declines across the storage, computing power cloud, and optical communication sectors, while the biotech sector rose broadly. Specific stock movements are as follows: Micron fell 2.71%, SanDisk dropped 2.92%, SK Hynix decreased 3.77%, Western Digital fell 3.22%, Seagate Technology declined 3.51%. Oracle rose 0.19%, CoreWeave dropped 1.91%, Nebius fell 3.50%, IREN decreased 2.86%, Applied Digital declined 1.58%. Lumentum fell 3.29%, Corning dropped 3.07%, Coherent gained 3.58%, Applied Optoelectronics decreased 0.90%, Ciena fell 4.01%, Broadcom dropped 1.98%, Marvell Technology declined 3.00%. Eli Lilly rose 1.27%, Johnson & Johnson gained 1.26%, Moderna fell 0.68%, Novo Nordisk decreased 0.40%, AbbVie rose 1.22%, Merck gained 0.96%.