ZEC rebounds over 5% from its recent low, with two whales buying $23 million worth amid the rally.

Whale address starting with 0x0242 today covered around $7.215 million in short positions of SK Hynix’s South Korean stock contract (ticker: SKHX), cutting its short position size by about 35% and logging a loss of roughly $92,100. The whale also added approximately $1.15 million in long positions of SK Hynix’s ADR contract (ticker: SKHY). Currently, the account holds ~$13.8 million in SKHX shorts and ~$5.91 million in SKHY longs, with a total unrealized loss of around $518,000. This adjustment reduced its South Korean stock short exposure, boosted its ADR long allocation, and maintained its spread trading structure of “short South Korean stocks, long ADRs”. Over the past month, the relative prices of the two contracts show that SKHY’s on-chain premium over SKHX expanded from ~40.71% on October 2 to ~51.05% on October 20, before falling back to ~42.34% currently, narrowing by ~8.71 percentage points from its recent peak. Among on-chain accounts with the same trading logic, the 0x7fda address is the largest, with a total position of ~$22.47 million across both legs and an unrealized loss of ~$780,000. Its SKHY ADR longs stand at ~$19.84 million, which is also higher than its $2.63 million SKHX South Korean stock short, leaving it with large ADR directional exposure.

Beating AI News Flash: A post on Shen Ma’s WeChat Moments reveals that Pang Tianyu, Chief Research Scientist of Tencent’s Hunyuan and Head of Multimodal Reinforcement Learning Technology, has left his role and is likely to launch a startup next. Pang, a Tsinghua University Computer Science PhD advised by Professor Zhu Jun, previously served as Senior Research Scientist at Singapore’s Sea AI Lab. He led multimodal reinforcement learning research at Hunyuan, covering areas including image generation and vision-language models. In June, Tencent open-sourced the multimodal reinforcement learning framework UniRL, with Pang listed as a contributing author; the framework was updated to v0.2.0 in October. In July, Tencent merged Hunyuan’s Large Language Model Division and Multimodal Model Division to form the Basic Model Division, overseen by Yao Shunyu. That same month, Hu Han, Head of Hunyuan Multimodal Understanding, left to start a business. In September, former OpenAI researcher Tian Yonglong took over as Head of Hunyuan Multimodal.

According to Bitget market data, Unitree Technology’s token has continued to rally in the afternoon, with its current gain exceeding 6%.

Goldman Sachs has released a US economic analysis report noting that the Democratic Party’s probability of securing a majority in the House of Representatives exceeds 90%, while control of the Senate remains uncertain. If the Democrats take the House, fiscal deadlines including the December 11 expiration of spending authorization and the 2027 debt ceiling will become key legislative battlegrounds. Goldman Sachs projects that the Democrats may leverage forced events such as government shutdown risks or the debt ceiling to push for policy concessions. In a Democratic victory scenario, while major fiscal policy changes are unlikely over the next two years, spending will likely rise slightly, with 2027 expenditure projected to increase by roughly 0.25% of GDP. On tariffs, Goldman Sachs believes that while the Democrats aim to roll back some tariffs, Trump will likely release the results of the Section 301 investigation and impose new tariffs after the midterm elections. The impact of these new tariffs will outweigh the Democrats’ partial cuts, potentially leading to a net increase of just under 2 percentage points in the US’ effective tariff rate. In the AI and data center space, attention to data center issues is expected to cool after the election, with little likelihood of a nationwide construction pause. Congress’ focus will shift to AI regulation, where a moderate compromise including basic federal oversight and corporate self-testing may be reached. If the Democrats win either chamber of Congress, investigations into large tech companies are anticipated, and stricter AI restriction bills may also be introduced at the state level.

According to MLM On Chain monitoring, Paradigm has un-staked 2.55 million HYPE tokens via 15 separate wallets over the past two days, worth roughly $224 million. This accounts for 17.85% of its current 14.26 million HYPE tokens staked on Hypercore, which are valued at approximately $1.26 billion. The monitor noted that Paradigm also un-staked large volumes of HYPE several weeks ago, before aggregating the tokens into new wallets and re-staking them, so a similar operation is expected this time. The specific arrangements following this un-staking remain unconfirmed as of now.

According to TradingBeats monitoring, the MINIMAX contract is currently trading at $22.36, up around 10.9% in the past 24 hours. On-chain, three large holders (each holding over $100,000) collectively hold approximately $516,700 in positions, with a weighted average entry price of $22.80, resulting in a total unrealized loss of roughly $10,000. Two of the holders are in unrealized profit, while one remains in unrealized loss; some low-cost long positions have started turning profitable. The address starting with 0xfd42 holds a $180,000 long position at an entry price of $21.18, with an unrealized profit of about $9,489. The largest long holder, address 0xf777, holds a $181,300 long position at an entry price of $21.60, and has turned a prior loss into a profit of around $6,210. Another long holder, address 0xd33c, has an entry price as high as $26.06, with remaining long positions valued at $155,400. This address began reducing positions to cut losses this morning, realizing a liquidation loss of approximately $6,074. On the news front, MiniMax announced this morning further progress on community quantification and local deployment adaptation for M3.1 Flash, including reducing the operating memory threshold and expanding hardware support.