Likely impacted by Google's earnings report, Bitget's GOOGL contract positions rose over 69% in 24 hours.

After yesterday’s FOMC meeting, Tom Lee told CNBC that Federal Reserve Governor Christopher Waller’s latest remarks leaned dovish, which bodes well for risk assets and a rebound in AI-related trading. Lee pointed out that Waller publicly challenged the claim that “AI growth will inevitably lead to inflation” — a critical point, as markets had previously fretted that AI capital expenditures would drive up inflation, forcing the Fed to raise interest rates or tighten monetary policy. “Therefore, now we can treat good news as good news. You will be able to say that significantly better-than-expected data is a positive, because the Fed will not attempt to slow artificial intelligence’s growth,” Lee added.

According to data from the BIT Stock Platform, U.S. pre-market trading saw broad declines today, with no exceptions among optical communications, NeoCloud, and storage stocks in the AI industry chain. Among star stocks: Nvidia fell 0.92%, Apple rose 0.83%, Microsoft rose 3.55%, Google fell 10.40%, Amazon fell 0.71%, Meta rose 0.90%, and Tesla fell 0.99%. Optical communications stocks: Lumentum rose 4.38%, Corning fell 3.39%, Coherent fell 0.68%, AAOI fell 3.77%, Broadcom fell 3.26%, and Marvell Technology fell 9.08%. NeoCloud concept stocks included Oracle (down 2.98%), CoreWeave (down 6.54%), Nebius (down 7.09%), IREN (down 5.20%), and Applied Digital (down 5.00%). Storage stocks also saw notable pre-market declines: Micron fell 3.78%, SanDisk fell 3.90%, SK Hynix fell 2.94%, Western Digital fell 3.78%, and Seagate Technology fell 3.44%. For crypto-related concept stocks, MSTR fell 2.16% and BMNR fell 3.36%.

According to Reuters citing sources familiar with the matter, London Metal Exchange (LME), a subsidiary of Hong Kong Exchanges and Clearing (HKEX), is exploring tokenizing metal inventories stored in Hong Kong warehouses to turn them into digital assets eligible for loan collateral and other financing activities, in line with Hong Kong’s strategy to develop into an international commodity trading hub. LME responded that it is currently in the early stages of exploring tokenizing metal inventories for which warehouse receipts have not been issued. Unlike metals under warehouse receipts that already have standardized financing mechanisms, these inventories currently lack mature financing channels. Sources revealed that LME plans to hold a closed-door industry roundtable in early November to discuss the plan. HKEX is also testing carbon credit tokenization to enable near-real-time transaction settlement.

Pre-market trading in US stocks saw Alphabet, Google's parent company, fall 10% after its quarterly revenue missed expectations and cash burn intensified.

Beating AI Flash News, October 29 — AI coding tool Command Code announced it has blocked a security incident linked to a large-scale distillation attack targeting Anthropic and OpenAI models. The company preemptively revoked all its API keys, requiring users to re-login to generate new ones. Over the past two weeks, OpenCode and Railway have successively encountered similar attacks. On October 17, OpenCode’s cloud console was breached, affecting roughly 1.4% of its console users; some third-party model keys may have been leaked, with some users reporting unauthorized charges of hundreds to thousands of dollars. On October 21, Railway was also hacked, leaving up to around 100,000 workspaces at risk of environment variable leaks. Investigators found from the attackers’ code logs that hackers specifically targeted AI service API keys. Railway assessed the attackers likely sought to use these keys to extensively call models and collect outputs for model distillation. Earlier, on October 14, Zeabur was also breached. The attackers focused on searching for AI API keys, even attempting to use stolen AWS credentials to access Amazon Bedrock, but the attempt failed.

According to Ember Monitoring, a whale or institutional entity transferred 694,300 HYPE tokens to Coinbase over the past four days, valued at $53.26 million.