US CFTC Chair: Crypto regulatory framework aims to prevent FTX-style fraud; opponents are paving the way for the next SBF

Beating AI Flash News: Founded by Kai-Fu Lee, 01.AI announced on October 28 a partnership with Hangzhou city and Linping District. State-owned assets from the city and district levels will invest a combined several hundred million yuan, with the company’s headquarters to be based in Linping, Hangzhou, and an industrial AI transformation base to be built. The two sides plan to carry out AI projects focusing on scenarios including enterprise operations, production management, and supply chains. 01.AI was once one of China’s "Big Model Six Tigers", entering the industry’s first tier early on with its self-developed Yi series models. However, in early 2025, the company adjusted its large model pre-training team and gradually withdrew from the large model arms race. In September this year, it officially ceased model API services for external users. Currently, 01.AI mainly develops business decision-making and operation management systems for enterprises based on open-source models such as DeepSeek and Qianwen, and sends engineers to client sites for on-site deployment. Kai-Fu Lee previously disclosed that the company secured 500 million yuan in orders and 250 million yuan in audited revenue in 2025; its order volume exceeded 1.5 billion yuan in the first five months of 2026. 01.AI also plans to hold an IPO in Hong Kong in 2027. Previously, the company has established AI industrial base projects in Neijiang (Sichuan) and Wuhan, among other locations. Its setting up operations in Hangzhou will not only bring state-owned asset investment, but also enable it to connect with the actual business needs of local enterprises and find more clients for its AI products.

According to Whale Alert monitoring, the USDC Treasury minted 250 million USDC on the Solana blockchain, worth approximately $250,115,375.

Despite the market drop, whales are still buying $BTC! Over the past 4 hours, 9 newly created wallets received 1,900 $BTC ($148M) from #GalaxyDigital.

According to Deribit data, 134,000 Bitcoin options and 346,000 Ethereum options are set to expire soon, with respective notional values of $10.48 billion and $750 million. The put-call ratio for Bitcoin options stands at 0.53, with a max pain point of $78,000. For Ethereum options, the put-call ratio is 0.73, and its max pain point is $2,400.

According to HTX market data, Bitcoin has rebounded to break through $78,000, currently trading at $78,003, with its 24-hour decline narrowed to 4.5%.

According to Lookonchain's monitoring, despite the market downturn, whales are still buying BTC. Over the past four hours, nine newly created wallets have received 1,900 BTC from Galaxy Digital, valued at roughly $148 million.