Perspective: The risk of MicroStrategy (MSTR) being excluded from MSCI indices may have already been priced in; a dip in MSTR’s net mNAV below 1 would present an opportunity.

According to Arkham's monitoring, whale trader 0x9c6 holds a 20x leveraged long position on SOL on Hyperliquid, with the current position value totaling around $57.5 million. The entry price for the position is $80.86. Based on SOL's current price of $104.43, the position has an unrealized profit of roughly $13 million. The trader opened the position approximately one month ago and has not closed it to date. Their Hyperliquid account is currently valued at about $24.2 million.

Crypto market analyst CW noted in a post that Binance’s spot trading volume typically fluctuated between $6 billion and $13 billion before mid-August; it later rose to $19.4 billion at one point, and has recently held steady at around $10 billion daily. Following the previous rally in the crypto market, Binance’s overall spot trading volume has remained at a high level. Despite the current short-term bearish trend in the market, Binance’s trading volume remains strong, indicating that market liquidity is still relatively sufficient. In contrast, Coinbase’s trading volume rose significantly during the recent market upswing, but as the market entered a consolidation and correction phase, trading activity has gradually cooled down.

TRON founder Justin Sun recently shared his personal asset allocation views (excluding TRON) during a 3.5-hour face-to-face talk with Jin Ming. Key points of his core portfolio strategy: - BTC: Held as a base position, with no reductions over the past year. While he expressed concerns about potential impacts from quantum computing and AI algorithms, noting the market has not fully priced these risks, he still maintains his BTC holdings and uses cold wallets in "bunker mode" for isolation. - ETH: Last year, he cut roughly 80-90% of his aggressive ETH positions in the $3,600–$4,000 range, and now only retains about 20% as a base position for observation, with no repurchase plans. Most funds from the ETH position reduction were allocated to US stocks. - NVIDIA: Serves as his main US stock holding, positioned as a base in the AI sector, with a heavy stake that he has not reduced. - Nasdaq 100: Held with a heavy position. He holds a slightly bearish mid-term outlook (citing factors like capital clustering and high interest rates) but has not opened short positions, keeping the position intact. - A-share market: No holdings. Overall, Sun is bearish on traditional assets and more focused on areas like AI applications and Web3. During the interview, he emphasized ETH as an aggressive asset while BTC acts as a base position. He added that he is bullish on AI health management and other applications, and bearish on some hardware sectors. The above are key takeaways from the interview, not a complete balance sheet.

According to Farside's monitoring, U.S. spot Bitcoin ETFs saw a net outflow of $82.4 million yesterday, while spot Ethereum ETFs recorded a net outflow of $69.7 million, marking three consecutive trading days of net outflows.

Beating AI Express News: Cloud deployment platform Zeabur founder Lin Yuanlin announced via user email that the platform will gradually cease operations. Some services will shut down successively starting December 1, and all dedicated servers and shared clusters will be closed by December 31. The official advises users to back up data and arrange migration as soon as possible. The shutdown decision stems from successive security incidents on the platform. Zeabur suffered a security incident in August this year and was attacked again in October. According to the official status page, the attacker gained read access to the platform’s database in the latest breach, accessing service environment variables, account information, and API tokens; some Google Cloud dedicated servers also faced unauthorized access. The founder noted in the email that the team began discussing whether to continue operations after the August incident. Following the latest attack, the team re-evaluated the investment required for sustained operations and the responsibilities it could assume, ultimately deciding to shut down the platform. The past year marked Zeabur’s fastest growth period, with AI applications including n8n, OpenClaw, and Vibe Coding driving demand for cloud deployment. However, AI has also lowered deployment barriers, leading the platform to hit growth bottlenecks. The team will also provide Markdown migration guides and Skills for Claude Code and Codex to help users migrate their existing services.

Insight Beating AI Flash News, according to Politico, Anthropic is privately lobbying U.S. lawmakers on a draft cutting-edge AI security bill that sets strict thresholds for government intervention in AI models. Under the draft, the government may only seek to shut down an AI model if it faces foreseeable and imminent specific risks that could cause over $1 billion in losses, or lead to more than 50 deaths or serious injuries. The draft limits regulatory triggers to three risk categories: AI models used for bioweapon development or proliferation, models escaping developer control, and models triggering cyberattacks. The bill also requires AI developers to conduct transparent testing and undergo independent third-party assessments. If an assessment body identifies relevant risks, it must report to the U.S. Department of Commerce within 72 hours, and the Commerce Department may apply to a federal court to suspend the model’s operations, with the court making the final ruling. Additionally, the draft proposes to prohibit other U.S. government departments and officials from independently halting the development, deployment, or internal use of AI models. Anthropic stated that the proposal is derived from its advanced AI framework released earlier this year, aiming to require developers to undergo security assessments while empowering the government to block the deployment of dangerous models. The draft is currently in the lobbying phase and has not yet become law. If the relevant provisions are ultimately passed, they could significantly limit the U.S. government’s authority to take emergency interventions against cutting-edge AI models.