Ethereum Foundation to Establish "DAI" Team to Promote On-Chain AI Development

According to Bloomberg, despite U.S. Democrats sweeping control of Congress, the crypto industry did not suffer a comprehensive defeat in the midterm elections. Stand With Crypto, an advocacy group backed by Coinbase, said the pro-crypto camp has won 228 House seats and 19 Senate seats. Fairshake, the crypto industry’s largest super political action committee (super PAC), also announced it will continue supporting pro-crypto candidates in the 2028 elections. Notably, while Ripple remains one of Fairshake’s top donors, Ripple co-founder Chris Larsen donated $4 million to the campaign of former Senator Sherrod Brown—who has repeatedly criticized the crypto industry. Separately, data from U.S. consumer advocacy group Public Citizen shows that as of the first quarter of 2026, the crypto industry has allocated roughly $189 million to political action committees in this midterm election cycle, up from $119 million in the 2024 cycle. AI-focused super PACs have also contributed $72.3 million.

U.S. October unemployment rate and non-farm payroll data will be released at 21:30 UTC+8 tonight. The U.S. October unemployment rate is projected at 4.2%, and October’s seasonally adjusted non-farm payrolls are forecast to rise by 65,000.

Goldman Sachs analysts Lina Thomas and Daan Struyven, in their Nov. 5 precious metals analyst report titled "Precious Metals Analyst Report: Long-Term Bullish on Gold, But Not Now", revised their end-2026 gold price forecast downward from $4,650 per ounce to $4,150, and cut the end-2027 target price from $5,400 to $4,800.

Nomura Securities' analyst team led by Cindy Park says South Korea's KOSPI index appears to be in an oversold state currently. In a research report, the analysts noted that global stock markets are weighed down by rising interest rates, high oil prices and other risk factors, with South Korea's stock market falling more sharply than other major global markets. The index has dropped 18% since August and is now hovering around 5,400 points. Nomura set the three-month target range for South Korea's KOSPI index at 7,500 to 8,000 points, reflecting macroeconomic and artificial intelligence-related risks, while keeping its long-term target of 10,000 points unchanged. The analysts also stated that AI investment, expanded corporate share buybacks, and market reform measures aimed at boosting corporate value could act as catalysts to drive gains in South Korea's stock market.

According to official announcements, Solana-based on-chain lending protocol Loopscale has announced that its platform has restored priority loan functions, and all loans now allow additional collateral operations. For loans not funded by the USDC Genesis Vault, borrowers can repay in full to retrieve their collateral. However, collateral withdrawal functions for loans linked to the USDC Genesis Vault remain temporarily disabled, while vault withdrawals and other protocol functions continue to be restricted. The team is collaborating with partners on security recovery efforts. Loopscale stated it has identified and contained two attack vectors exploited by attackers in this incident. First, attackers leveraged an incorrect asset pricing parameter configuration, causing collateral deposited in the SOL Genesis Vault to be misvalued as another asset, enabling them to secure an under-collateralized loan of approximately $412,000. Next, attackers used an atomic transaction combination to sell a loan with an abnormally high interest rate to the USDC Genesis Vault, artificially inflating its net asset value (NAV) and siphoning around $521,000 in redemption funds. This operation was intercepted by the system within 30 seconds of the transaction being generated. Loopscale emphasized that user deposits will not suffer losses as a result of this incident.

According to official announcements, Immutable plans to upgrade its Immutable Chain from a Geth-based custom fork to an OP Stack-based blockchain by mid-2027, while retaining its existing state and Chain ID. After the upgrade, all accounts, balances, smart contracts, and authorization records will remain unchanged, with no action required from users or developers in most cases. The upgrade will reduce the block time from 2 seconds to 1 second, transform Immutable Chain into an Ethereum Rollup, and enable state proof-based cross-chain bridging and Ethereum data availability. However, transaction costs will rise slightly, and native withdrawal times will extend to approximately 7 days. The migration is expected to pause block production for several hours, with a specific timeline to be announced in advance once confirmed. Immutable noted that the migration will be based on directly verified state commitments published to Ethereum, replacing the existing native bridging solution that relies on the Axelar cross-chain messaging network, and will introduce permissioned fraud proofs and zero-knowledge validity proofs in phases. Additionally, building on OP Stack will facilitate faster adoption of protocol upgrades, EVM upgrades, and security patches. Meanwhile, Immutable plans to discontinue support for game development testing on its current Immutable testnet by the end of 2026. The decision stems from the testnet’s lack of third-party integrations, which makes it difficult to meet the testing needs of complex game workflows, as most games have shifted to local or production chains for testing.