Arthur Hayes: Flop Labs' development is progressing smoothly, testnet launch tentatively scheduled for early next week.

According to data from Bitget's stock platform, Hong Kong stocks rallied across the board in morning trading. As of approximately 10:14 Hong Kong time, the Hang Seng Index stood at around 24,600 points, up nearly 2.8%; the Hang Seng Tech Index was at roughly 4,127 points, surging over 4.8%, with both indices reclaiming the 24,000 and 4,000 thresholds respectively. Leading tech and internet stocks led the gains: NetEase rose over 8%, Meituan-W gained over 8%, Li Auto-W jumped over 8%, Xiaomi Group-W advanced over 7%, Alibaba-W climbed over 5%, and Tencent Holdings added over 5%. HSBC Holdings rose over 4%, BYD Co. gained nearly 5%, and SMIC increased over 3%. AI hardware-related stocks saw divergent and weak performance, with Lenovo Group falling nearly 8%.

According to monitoring by ai_9684xtpa, an entity affiliated with a16z has deposited a total of 148,145 HYPE tokens across major trading platforms over the past 16 hours, worth approximately $12.63 million, at an average deposit price of $85.26. As the largest external holder of HYPE, this address has transferred around 233,000 HYPE tokens since October 30, valued at over $20.6 million. If all the related tokens are sold, the estimated profit would be roughly $1.141 million.

Canary Capital’s Canary Staked INJ ETF filed Form 8-A with the U.S. Securities and Exchange Commission (SEC) on November 3. The filing confirms that the ETF’s common equity shares have been approved for listing on Nasdaq, with the trading ticker INJC.

Alphabet’s AI drug discovery subsidiary Isomorphic Labs is in talks for a new round of financing worth approximately $5 billion, with a corresponding valuation of around $50 billion. People familiar with the matter said the financing has not been finalized yet, and details may change. Founded in 2021 by Demis Hassabis as a spin-off from Google DeepMind, the London-based firm’s core business leverages AI technologies including AlphaFold to accelerate drug design and discovery. It just completed a $2.1 billion Series B funding round in May this year, led by Thrive Capital with participation from Alphabet and other investors. Bloomberg previously reported in October that the company was in early-stage financing discussions, with a valuation range of $40 billion to $50 billion. Currently, Isomorphic Labs remains in the pre-clinical stage, and Hassabis has stated that the firm expects to enter its first clinical trial by the end of 2026.

According to an official announcement from Japanese cryptocurrency exchange platform Zaif, its email distribution service contractor Arara Co. suffered unauthorized server access, confirming that customer email addresses registered in the service have been leaked. Per Arara’s report, the deduplicated number of leaked emails totals 380,536, containing only email addresses—no personal information such as names or email bodies. Zaif stated that only emails were registered for this service, with no names, addresses, phone numbers, transaction details, or passwords recorded, and no breach of its own systems has been confirmed. The leaked data does not include authentication information like passwords, so accounts cannot be accessed using only email addresses. As of press time, no secondary damages such as unauthorized logins or asset outflows linked to the incident have been confirmed. Due to Arara’s service suspension, Zaif has temporarily halted all notification email distributions, and advised users to stay vigilant against phishing and fraudulent emails, warning them not to click unfamiliar links or submit authentication information. This is the second report on the leak, following the initial disclosure of a potential data breach on November 2. Relevant details have been reported to the competent authorities.

According to Coinglass data, global crypto liquidations reached $983 million over the past 24 hours, including $401 million in long positions and $582 million in short positions. Bitcoin liquidations hit $398 million, while Ethereum liquidations stood at $243 million. The single largest liquidation order occurred on HTX-ETH-USDT, valued at $37.9991 million.