Metis Hybrid Rollup launches on Devnet; development of its post-quantum proof path is underway.

Michael Burry, the prototype of "The Big Short", analyzed that Broadcom’s $161 billion hardware deal with Anthropic has major hidden risks, with the agreement shifting part of the financial risk to insurers. Specifically, Anthropic needs Broadcom’s chips to run Claude but does not purchase them directly. Wall Street banks and Blackstone injected $63 billion into an independent company, which then bought chips from Broadcom and leased them to Anthropic. Over the entire term of these lease agreements, Anthropic will pay around $161 billion in rent for Broadcom’s equipment, with part of the funds coming from Broadcom itself. Broadcom has agreed to provide Anthropic with up to $42 billion in loans, which can only be used to pay rent for Broadcom’s devices. Michael Burry reiterated that he has no intention of buying Anthropic’s stock when it goes public next week. "For the benefit of humanity, markets should plunge sharply to stop the IPOs of OpenAI and Anthropic." Earlier, Michael Burry said Anthropic’s IPO prospectus (S-1) "exposes catastrophic systemic risks in the entire AI boom, not just Anthropic alone." He believes Anthropic has a circular and interconnected financing structure: hyperscalers act as its lender, supplier, channel, and shareholder simultaneously. Moreover, Anthropic’s quarterly revenue growth slowed from around 144% to approximately 46%, while its computing costs rose sharply by around 78%.

According to TradingBeats monitoring, after the release of the U.S. October CPI, cross-market trader JnStPrdctns’ ETH short positions on Hyperliquid once expanded to around $16.9 million. This morning, the account took profits on its short positions before going long small to execute a swing trade. On Polymarket, the account is lowering its year-end price threshold for ETH. After the CPI release, it allocated roughly $7,243 to add to its "ETH will not reach $1,750 this year" No position, which is now worth about $56,200, corresponding to an implied market probability of around 72%. During the same period, it sold approximately $20,000 worth of its "ETH will not reach $2,000 this year" No position, recouping roughly $3,400. Compared to its earlier bet that ETH would not hit $2,000, the account has now shifted its focus to the $1,750 threshold, accepting a larger price pullback. For BTC predictions, the account still bets that BTC will hold above $65,000 by year-end. Last night, it allocated around $30,800 to add to its "BTC will not reach $65,000 this year" No position, which is now worth roughly $62,500, with an implied probability of about 62.5%.

NVIDIA’s board announced an investigation on Sunday, and released a statement on November 10 (Eastern Time) confirming it has retained former acting U.S. Attorney for the Southern District of New York (SDNY) Joon H. Kim and his new firm Wachtell, Lipton, Rosen & Katz to conduct a "full, independent investigation" into CEO Jensen Huang’s incident. The board also noted there is currently no reason to believe the company’s confidential information has been compromised, and Jensen Huang has voiced support for the probe and pledged full cooperation. Public records show Joon H. Kim served as acting SDNY U.S. Attorney from 2017 to 2018. SDNY is widely regarded as the most prestigious federal prosecutor’s office in the U.S., commonly nicknamed the "Sovereign District". He oversaw more than 220 assistant U.S. attorneys, with his jurisdiction covering cases of economic espionage, trade secret theft, sanctions violations and cybercrime. In March 2021, Kim was appointed by New York State Attorney General Letitia James to co-lead an independent investigation into sexual harassment allegations against Governor Andrew Cuomo alongside Anne Clark; shortly after the investigation’s report was released, Cuomo resigned in August 2021. In December 2023, he was commissioned by the FDIC Board’s Special Review Committee to independently investigate internal harassment and discrimination allegations at the agency.

CoreWeave’s third-quarter revenue reached $3.661 billion, up around 168% year-over-year, and the company raised its full-year revenue guidance to $13 billion to $13.3 billion. However, the firm still posted a net loss of $709 million in the quarter, and expects fourth-quarter interest expenses to hit $1.05 billion to $1.15 billion. This mixed set of macro data directly sparked massive market swings: CRWV contracts on Hyperliquid experienced extreme volatility. The price first jumped from $49.23 before the announcement to $54, then plunged to $46.60 at 06:22, marking a maximum drawdown of roughly 13.7%. After the sell-off, it rebounded quickly, hitting a high of $55.61. As of press time, the mark price stands at $55.07, a roughly 18.2% rebound from the low. During this "V-shaped reversal" rebound window, numerous traders were shaken out of their positions. Data shows that during the period of extreme volatility (from the 06:22 low to press time), 477 addresses traded CRWV, with at least 122 addresses recording losses and liquidating all their CRWV positions. The largest loss came from the address starting with 0x4270, which sold around $352,000 worth of CRWV long positions at an average price of $50.22, for a net loss of roughly $8,083. Meanwhile, some traders locked in short-term gains. The address starting with 0xe1d39 bought and sold CRWV multiple times during the volatility, with total buys of around $990,000 and total sells of around $1.01 million, at an average buy price of $51.29 and average sell price of $52.43. It closed all positions, realizing a profit of around $21,800.

According to analyst Alicharts, Bitcoin has dropped from $79,000 to below $73,000 over the past week, with large holders reducing their positions by more than 34,000 BTC, worth roughly $2.6 billion. Meanwhile, Ethereum whale groups have also been trimming their holdings, though at a slower pace. The group sold around 17,800 ETH in the past week, valued at approximately $40 million based on recent prices.

Wall Street Journal chief economics reporter Nick Timiraos, widely known as the "Fed’s mouthpiece," wrote in a recent article that the rebound in U.S. inflation is breaking the gradual pace of rate hikes the Federal Reserve had sought to maintain. Fed officials spent all of October trying to quash market expectations of consecutive rapid rate hikes in the near term, but the latest released data has not aligned with that effort. Data released Tuesday by the U.S. Department of Labor showed that the annualized increase in core Consumer Price Index (CPI), which excludes food and energy prices, hit 3.7% in the three months ending in October, up sharply from 1.6% in the three months ending in July. The report has further cemented market expectations that the Fed will raise interest rates at its December 8-9 policy meeting. The real debate has shifted from whether a rate hike is needed to how quickly monetary policy should be tightened. The article notes that the Fed now faces two options: continue with its previously planned pace of two to three more 25-basis-point rate hikes; or act faster, by implementing consecutive hikes or even a single 50-basis-point increase to deliberately cool economic activity and curb inflation. On Tuesday, remarks from multiple Fed officials indicated that the latter option is drawing more attention. The article states that the Fed’s core dilemma is now clear: persistent, broad-based inflation calls for the central bank to act faster, while cooling AI investment and tightening financial conditions raise the risk of over-tightening. Whether the December meeting will deliver a single 50-basis-point hike or two consecutive 25-basis-point increases will be a key test of the Fed’s policy trade-offs.