Alibaba CEO: Unlikely to See an AI Bubble in the Next Three Years
On November 25th, Alibaba declared that it will "actively" make investments to enhance its artificial intelligence capabilities and does not rule out making additional investments beyond the committed 380 billion yuan within three years. Given the strong customer demand, the previously mentioned 380 billion yuan investment may appear relatively small.
Over the next three years, artificial intelligence resources in general will be in a state of shortage. The company's CEO stated that it is unlikely that an artificial intelligence bubble will form in the next three years. (Jinse)
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Zelensky: Peace Negotiations with the United States Still Ongoing
On November 25th, Ukrainian President Zelensky stated that although there were reports suggesting that Kyiv had reached an agreement on potential terms to end the conflict with Russia, negotiations with the United States on a peace plan were still in progress. After having a phone call with German Chancellor Merkel on Tuesday, Zelensky took to social media and said, "Communication with the American side is continuing. I would like to express my gratitude to all Americans for their efforts, and personally thank President Trump for his efforts." Prior to this, ABC News cited a U.S. official who said that Ukraine had agreed to a potential peace deal, but some details were still being finalized. (FX168)
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Renaiss Protocol Launches Pokémon 'Da Vinci 3.0' Card Pack, Quickly Sells Out Again Setting New Record
On November 25th, the Renaiss Protocol officially launched the "Da Vinci 3.0" card pack during the closed beta period. This card pack contains Pokémon TCG cards that have been officially appraised by the PSA international appraisal agency and have received a PSA 10 rating. Less than an hour and a half after being put on the market, all the cards were sold out. The pack also includes the highly sought-after M2 Mega Charizard card, which is valued at nearly a thousand US dollars and has become the focus of community attention and discussion.
This follows the launch of the 2.0 card pack on November 19th, which also sold out within three hours, setting another record for rapid sell-outs during the Renaiss Protocol's testing period.
In the first week, the total number of users in Renaiss' closed beta has exceeded 40,000. The platform's card trading market has been heating up. For example, a PSA 10 Lugia V card was sold for 1,020 USDT, setting a new high-price trading record. This demonstr
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VanEck updates BNB ETF's S-1 filing, removes staking option
On November 21st, asset management company VanEck submitted its latest S-1 filing to the U.S. Securities and Exchange Commission (SEC). It was stated that the BNB ETF would no longer provide a staking option. At the time of listing, the ETF would not stake its BNB and thus would not receive any staking rewards or income from staking activities. VanEck recognized that the removal of the staking option might lead to the underperformance of the ETF compared to simply holding BNB.
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Analysis: Highly Anticipated U.S. September Retail Sales MoM Below Expectations
November 25th: In the United States, retail sales growth in September was lower than anticipated, taking a pause following the recent robust increases. The data released on Tuesday indicated a month-on-month retail sales growth of 0.2%, with August's growth remaining unchanged at 0.6%. Economists who were surveyed had previously forecasted a 0.4% growth in retail sales for the month.
Sales had picked up in the previous months, partly because consumers were eager to purchase electric vehicles before the end of September for the tax credit. The slowdown in sales may not change economists' expectations for a rebound in third-quarter consumer spending. Excluding automobiles, gasoline, building materials, and food services, retail sales in September decreased by 0.1%, while August's retail sales were revised down to a 0.6% increase.
These so-called core retail sales are closely in line with the consumer spending component of GDP. However, current consumption is mainly driven by high-incom
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Paxos Acquires Crypto Wallet Startup Fordefi for Over $100 Million
On November 25th, as reported by Fortune, the stablecoin issuer Paxos announced the acquisition of New York-based crypto wallet startup Fordefi in a deal exceeding $1 billion. Fordefi focuses on designing encrypted wallet solutions for Decentralized Finance (DeFi) and currently has around 40 employees, serving approximately 300 clients.
This acquisition is aimed at meeting the increasing access demands of customers for DeFi. Fordefi will remain operationally independent for the time being, but Paxos plans to eventually integrate its technology into its own infrastructure.
This is Paxos's second acquisition in the past year. It previously acquired Finnish stablecoin issuer Membrane Finance to comply with EU cryptocurrency regulatory requirements.
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