$47.7 Million Worth of Bitcoin Seized by South Korean Regional Prosecutor's Office Stolen in Phishing Attack

Decentralized exchange platform Extended has unveiled the tokenomics model for its native token XTEN, with a fixed total supply cap of 1 billion tokens, all minted at genesis and no inflation mechanism. Of the total, 30% (300 million tokens) is allocated to eligible participants of the Extended Points program, with full unlocking at the Token Generation Event (TGE) and no fees required. XTEN is primarily used for trading fee discounts, staking rewards, and Vault yield boosts. The staking function will launch concurrently with TGE: users who stake at least 500 XTEN will enter corresponding tiers, offering trading fee discounts up to 30% and Vault yield boosts up to 5x, with a maximum individual Vault boost deposit cap of $2 million. In token allocation, the ecosystem fund accounts for 20% (200 million tokens), including 150 million for staking rewards and 50 million for ecosystem development. The team, founders, and investors collectively hold 50% (500 million tokens), which will remain locked for the first 12 months post-TGE before being released in tranches per respective vesting schedules. Additionally, XTEN’s total supply will not increase: trading fee revenue may be used for token burning, and Extended’s affiliated entities may also repurchase XTEN on the open market. The token will also natively support Circle’s Cross-Chain Transfer Protocol (CCTP), enabling cross-chain transfers between Arc and other blockchains that support the protocol. Extended has not yet announced the TGE date or the airdrop claim window. Notably, users from the European Economic Area (EEA) will not be able to conduct XTEN spot trading during the platform’s initial launch phase, though they will still be eligible to claim, hold, stake, and transfer the token.

Morgan Stanley’s latest research report points out that global power demand growth is expanding beyond just AI data centers to three key drivers: AI, industrial relocation, and air conditioning and refrigeration. The power sector is entering a new "super cycle" trend that the market has not yet fully priced in. The firm raised its global power consumption forecast by roughly 10%, projecting global electricity usage will reach 36 trillion kilowatt-hours by 2030, with a compound annual growth rate (CAGR) of around 4.2%. Asia will contribute about 64% of global new electricity demand added between 2025 and 2030, with the largest upward revisions to power demand growth forecasts seen for India, the U.S., and Australia. On the supply side, Morgan Stanley expects fossil fuels will still account for roughly 50% of the global power mix by 2030, with reliable coal and gas-fired power generation set to command higher scarcity premiums. Meanwhile, wholesale power prices in major markets are projected to rise around 20% year-on-year in 2026, as pricing power in the power industry shifts from equipment manufacturers to power generation operators. The firm estimates that the expansion in power demand and rising electricity prices could create around $500 billion in value, and drive a roughly 14% upward revision to 2028 earnings per share (EPS) forecasts for related companies, a trend not yet fully reflected in stock markets.

Oracle (ORCL) has priced its $20 billion combined stock and bond offering. The company issued 86,206,897 common shares at $116 per share, raising approximately $10 billion, and also offered $10 billion in senior notes with maturities ranging from 2029 to 2046.

Beating AI News: As tech stocks plunged last week, large institutional investors planning to participate in Anthropic’s IPO have begun demanding a lower valuation, targeting a range of $1.5 trillion to $1.6 trillion. Investors are concerned about overheating in AI investments, headwinds in data center construction, and delayed profit realization from massive computing power outlays. Anthropic has not yet finalized its valuation or share count for the offering, and plans to launch its roadshow as early as next week, targeting a listing in the week of November 16. Some investors are pushing for conservative pricing to leave room for the stock to rise on its first day of trading. On November 2, Anthropic filed an updated S-1/A registration statement with the U.S. Securities and Exchange Commission (SEC), disclosing total contracted commitments for computing power and infrastructure of approximately $895.4 billion, covering cloud computing procurement, data centers, equipment leasing, and related areas. Of that total, around $447.5 billion is expected to be incurred by the end of 2030, with most of the remainder extending through 2045. Over the next 12 months alone, the company faces approximately $69.8 billion in contractual payment obligations. Anthropic’s third-quarter revenue hit $16.956 billion, rising around 47% quarter-over-quarter, though its second-quarter quarter-over-quarter growth rate had reached 144%. Operating profit shifted from a $974 million gain in Q2 to a $567 million loss in Q3. The company attributed the Q3 loss to several factors: roughly $5 billion in computing power sourced from pricier short-term contracts, about $2 billion in non-cash employee donation matching expenses, and around $6 billion in revenue growth offset by new model price cuts and client agreement discounts.

According to a source, NVIDIA CEO Jensen Huang has expressed support for the major deal between Marvell and Lumentum. Marvell Technology announced an all-stock acquisition of optical component maker Lumentum worth around $115 billion, marking one of the largest tech mergers and acquisitions in recent years. Each of the two companies had previously secured a $2 billion strategic investment from NVIDIA.

According to Lookonchain's monitoring, a whale address has recently aggressively gone long on crude oil, opening long positions totaling over $147 million. The positions include 868,840 Brent Crude (BRENTOIL) contracts valued at approximately $91 million, and 580,960 U.S. Crude (CL) contracts worth around $56.1 million.