Alibaba's T-head Semiconductor is heading for a Hong Kong IPO, with cumulative AI chip shipments totaling 560,000 cards, ranking second in China's domestic market share.

The Financial Stability Board (FSB) has released its peer review report on Turkey, noting that the country has made substantial progress in strengthening the regulation, supervision and oversight of its crypto asset market in recent years, though it still needs to further refine its regulatory framework to align with the FSB’s Global Regulatory Framework for Crypto-Asset Activities. The report points out that Turkey has brought most crypto asset market activities under regulation and introduced registration and licensing requirements for Crypto Asset Service Providers (CASPs). It has also implemented strict asset segregation custody measures and banned domestic use of crypto assets for payments, to limit the transmission of related risks to the payment and banking systems. Additionally, Turkish authorities have set up a centralized data platform for monitoring crypto asset activities. Nevertheless, the FSB says Turkey still needs to take further measures in the following areas: implementing a financial stability monitoring framework, establishing a dedicated regulatory regime for stablecoins, strengthening regulatory and enforcement efforts, and advancing cross-border regulatory cooperation and information sharing. The report also notes that Turkey had previously finalized its crypto asset regulatory framework, but its stablecoin regulatory regime remains incomplete. This review is intended to drive Turkey to further implement the relevant recommendations of the FSB’s global regulatory framework.

According to market data from BIT Stock Platform, NVIDIA (NVDA.O)’s pre-market gain in U.S. trading has expanded to 5%. The chipmaker’s stock had fallen by a cumulative 9.5% over the previous two trading sessions.

CryptoQuant analyst Darkfost stated in a post that BTC has been in a continuous distribution phase since October, with its price correcting by roughly 15%. After short-term holders (STHs) took profits, losing trades now dominate. Over the past 24 hours, STHs transferred 48,500 BTC to trading platforms, 47,300 of which were moved at a loss. This is one of the largest capitulation sell-offs by short-term holders in recent months.

According to official announcements, Binance Futures will launch the NUUSDT perpetual contract at 17:30 Beijing time on November 12, and the FRHCUSDT perpetual contract at 17:45 the same day. Both contracts are settled in USDT, support 24-hour trading, and offer a maximum leverage of 20x. The underlying asset of the NU contract is Class A common stock of Nu Holdings Ltd. (NYSE: NU), while the FRHC contract tracks common stock of Freedom Holding Corp. (Nasdaq: FRHC). The funding rate for both contracts settles every 8 hours, with upper and lower limits of ±2%, and supports multi-asset mode.

Privacy payment application AnomaPay announced in a post that an external security vulnerability has been discovered in the RISC Zero proof system it uses, which may put user funds at risk. To protect user assets, Anoma has suspended the relevant RISC Zero verifier, and the upgrade will be handled by the RISC Zero team. AnomaPay stated that users’ deposited funds remain secure but will be temporarily inaccessible until the Anoma protocol is upgraded to V2. The upgrade is expected to take approximately two weeks, during which RISC Zero’s security updates will be integrated. Users do not need to take any action; funds will automatically be migrated to V2 and access restored once the upgrade is complete.

Beating AI Newsflash: Payment giant Stripe announced that AI model aggregation platform OpenRouter has officially become its subsidiary. The two parties had already announced the acquisition agreement as early as August 19, and this marks the official closing of the deal. OpenRouter acts as a unified entry point for AI models. Developers only need to integrate one API to access hundreds of models from over 80 service providers, and can select providers based on price, speed and stability, with automatic switching available when needed. This business is expanding rapidly. Official data from OpenRouter shows the platform processed 790 trillion tokens in October, a 37% increase from September, and roughly 25 times the volume recorded in January this year. Of this total, 76% of token consumption came from API keys categorized by the platform for agent use cases. The platform currently serves over 10 million developers and enterprises. Stripe, which originally focused on helping enterprises with payment collection, payment management and risk control, launched Token Billing in recent years to help AI companies bill customers based on model usage. Following the acquisition, it plans to further manage enterprises' AI spending: for instance, it will route simple tasks to cheaper models and complex tasks to more expensive ones, while tracking spending on different models. Enterprises can both collect payments from users via Stripe and control model call costs through OpenRouter. OpenRouter has pledged to retain its original brand, products and APIs, and maintain neutrality in model selection.