Huawei Cloud has discontinued sales of its in-house PanGu 2.0 model services, and is recommending users switch to DeepSeek and GLM*

Beating AI Express News, Exclusive from Intelligence Emergence: ByteDance’s video generation model Seedance now derives 50% of its revenue from overseas markets, with overseas revenue surging nearly fivefold in the past six months. In February this year, Seedance 2.0 received a cease-and-desist letter from the Motion Picture Association (MPA) for generating content featuring Hollywood copyrighted characters. On August 17, the two parties signed a global intellectual property protection memorandum, after which the MPA publicly acknowledged Seedance’s new model’s progress in copyright protection. Disney also struck a content partnership with TikTok, allowing eligible creators to use specified film and television assets to produce short videos. Domestically, Seedance has also secured many leading Chinese internet clients: based on token consumption and revenue contribution, Tencent ranks among Seedance’s top three clients in China, while Bilibili is in the top ten. Notably, Tencent, which operates its own Hunyuan video model, remains a major client of ByteDance’s video model business. Seedance is also expanding into the physical industry, with clients in manufacturing, automotive, education, healthcare and other sectors accounting for over a quarter of its total client base. With Seedance 2.5 strengthening multimodal reference and editing consistency, ByteDance aims to further apply its video generation capabilities to use cases including embodied intelligence, manufacturing simulation and industrial training.

According to a Financial Times report, China’s Securities Regulatory Commission (CSRC) recently held meetings with investment banks and issued verbal guidance to banks and investment banks, requiring a suspension of corporate initial public offerings (IPOs). Large-scale share reductions by existing shareholders have also been temporarily halted until market stability is restored. Previously, Chinese regulators had already rolled out measures including restricting share reductions and encouraging stock buybacks. On Monday, the CSRC, the People’s Bank of China (PBC), and the State Administration of Financial Supervision also held meetings with securities firms and fund management companies to discuss stock market stabilization measures, such as cutting the re-lending rate for stock buybacks and share additions from 1.25% to 1% and expanding swap facility operations. The report noted that China’s IPO fundraising volume this year has exceeded 292 billion yuan, the highest level since 2023. A suspension of IPOs and large-scale share reductions could impact financing activities in China’s equity market. It should be noted that the relevant measures are currently based mainly on informal window guidance disclosed by insiders, and regulators have not yet officially confirmed them publicly.

BitMEX co-founder Arthur Hayes announced in a post that the FLOP Devnet is now open to developers. Users can obtain test tokens, browse blocks, and call verified inference services via agents. Currently available resources include a block explorer, test token faucet, API, MCP interface, SDK, and related development documentation. Hayes specifically cautioned that Devnet test tokens have no real value, do not generate rewards or airdrop eligibility, and the network may reset. The project has not yet issued FLOP tokens; users should verify official links and never disclose their mnemonics.

Beating AI News, November 3 — China’s National Development and Reform Commission (NDRC) announced it will accelerate comprehensive legislation on artificial intelligence (AI), establishing safety standards and ethical guidelines covering the entire lifecycle of AI from R&D and application, spanning data, computing power, algorithms and specific use cases. AI developers and operators will be required to disclose safety risks in a timely manner and proactively report incidents and vulnerabilities. While tightening regulation, the policy will also leave room for enterprises to test and iterate. The new rules will set a reasonable transition period, and support industries to establish "regulatory sandboxes" — controlled environments allowing enterprises to test new technologies. The sandboxes will come with dedicated application, testing, use and exit mechanisms, with regulatory rules subject to regular evaluation and timely adjustment. Beyond model and technical safety, regulation will also focus on AI’s impact on individuals, including monitoring risks of AI displacing jobs, improving social security systems, and preventing user addiction to AI and emotional dependence. Deepfakes, algorithmic discrimination and privacy breaches are also included in the governance scope. China introduced public-facing measures for generative AI services in 2023, and added comprehensive AI legislation to the State Council’s work plan in May this year. Regulatory sandboxes have already been piloted in some AI service sectors.

Jay Hatfield, CEO and portfolio manager at Infrastructure Capital Advisors, stated that the U.S. Federal Reserve should end its "irrational interest rate hike policy", noting monetary policy should focus on core inflation rather than inflation driven by oil prices. Hatfield added that the Fed should recognize its policies primarily impact interest rate-sensitive sectors, which are dominated by the housing market. He urged the Fed to undertake fundamental reforms to its forecasting models, arbitrary 2% inflation target, and its "severely flawed inflation metrics". Additionally, Infrastructure Capital Advisors is closely monitoring the research outputs of the Fed’s related working groups, and looks forward to these results addressing some of the aforementioned fundamental flaws.

According to the official page of Bybit’s WSOT 2026 World Trading Competition, the event has launched a "Lucky Wednesday" lottery, with draws held every Wednesday at 10:00 UTC. Users can earn entry into prize draws by activating a corresponding number of trading arenas; the more lottery tickets they hold, the higher their winning chances. Per the event page: activating 1 arena grants entry into a draw for a 5g gold bar valued at $750; activating 2 arenas qualifies participants for a draw for an iPhone Duo worth $1,999; activating 3 arenas unlocks entry into a draw for an NVIDIA RTX 5090 priced at $2,599; activating 4 arenas lets users enter a draw for an Apple Vision Pro valued at $3,699; activating 5 arenas gives access to a draw for a $200,000 Tesla Roadster. The first draw is scheduled for November 4 at 10:00 UTC. Users are encouraged to actively participate by activating relevant arenas to secure their lottery entry. It is important to note that all event prizes, participation requirements, and specific rules are subject to the information published on Bybit’s official event page.