Li Yihua: Discussed with Justin Sun the reasons for being bearish on the Nasdaq and Bitcoin; the AI industry chain may usher in a round of deleveraging and bubble correction.

Italy’s data protection authority has fined Meta Platforms Ireland Limited 805 million euros. Investigations found that since 2023, Facebook’s Android app’s “Get suggestions from album while browsing Facebook” feature accessed Italian users’ photos, videos and related metadata without their specific, informed consent. The feature is enabled by default, with overly generic permission prompts; a single permission covering the entire app allows permanent access to device album content, and neither users nor regulators can verify its actual scope of use. Regulators ruled the act violates Article 122 of Italy’s Privacy Code, which implements the EU ePrivacy Directive, emphasizing that mobile phones are personal private spaces, and any access requires free, informed consent regardless of whether data is transmitted or actual harm is caused. Meta’s defense that jurisdiction rests with Irish regulators was rejected, as the ePrivacy Directive does not apply to the “one-stop” regulatory mechanism. The penalty was calculated taking into account factors including around 20 million affected Italian Android users, ongoing violations, a prior 2019 penalty record, and low cooperation during the investigation. The fine accounts for approximately 0.47% of the group’s global revenue. Meta is required to disable the feature by default within 60 days, separately obtain explicit user consent, clearly inform users of the feature’s purpose and opt-out method; if valid consent is not obtained within the period, the feature may not be enabled. It must submit remediation progress reports within 30 and 90 days respectively. No AI training use was involved (Meta denied such use), and the cloud album processing feature set to launch in 2026 will be assessed separately.

According to Lookonchain's monitoring, Erik Voorhees, an early Bitcoin supporter and founder of ShapeShift, appears to be buying the dip on Ethereum. Multiple wallets linked to Voorhees spent $97 million over the past four days to acquire 48,647 ETH at an average price of $1,994. These wallets still hold $78.68 million in stablecoins, indicating they may continue purchasing.

Early Bitcoin supporter and ShapeShift founder Erik Voorhees(@ErikVoorhees) appears to be buying the $ETH dip! We spotted many wallets linked to Erik Voorhees that spent $97M to buy 48,647 $ETH at an average price of $1,994 over the past 4 days. These wallets still hold $78.68M

The petition website urging NVIDIA’s board to reinstate Jensen Huang continues to gain momentum. As of press time, the site has garnered 83,409 signatures, including 4,656 current NVIDIA employees, 806 former employees, and 44,547 shareholders. Notable public figures including Elon Musk, Tom Lee, and Replit CEO Amjad Masad have publicly signed the petition. Earlier, on November 12, 2026, NVIDIA announced Huang’s immediate resignation as CEO, ending his 33-year tenure leading the company he co-founded. Campaign organizers and signatories fear Huang was forced out without proper due process or sufficient time to defend himself, and are demanding an explanation from the board. The open letter’s core demands to NVIDIA’s board are: Reinstate Huang as CEO pending an independent fact-finding investigation; if he remains away from the role, provide evidence-backed explanations. The letter also calls for ensuring the investigation is independent, defining its scope and timeline, granting Huang a fair chance to defend himself, and issuing timely public statements addressing relevant concerns, evidence, and trade-offs for employees’ and shareholders’ interests. It stresses: “Thirty-three years of leadership does not mean immunity from accountability, but accountability requires evidence and due process, not a public lynching.” The site notes the campaign is independent and has not been endorsed by NVIDIA or Huang himself.

stUSDT official has announced the discontinuation of stUSDT and wstUSDT issuance. The redemption window runs from November 14, 2026 to May 14, 2027, with rewards ceasing distribution as of November 14, 2026. After users unstake their assets, they must click the "Claim" button to receive their corresponding USDT. The official requires holders to complete redemptions via the self-service portal by May 14, 2027; post-deadline, the self-service channel will close, and remaining redemption requests must be submitted to customer service, which will process them in monthly batches through August 2027. Additionally, the team warns users to guard against scams, noting it will never send unsolicited private messages requesting mnemonics or private keys, and all redemptions must be conducted via official channels only.

Kava’s official announcement notes abnormal on-chain activity involving KAVA tokens being bridged to BSC and sold. The project explicitly clarifies that this incident is not an infinite token mint, but rather isolated and restricted to the Kava Lend protocol, with the overall situation now under control. As a routine preventive measure, partner exchanges have suspended related deposit and withdrawal functions. Kava stated it will release more details as soon as possible. Earlier, HTX market data showed KAVA fell over 40% within an hour, with an on-chain security issue suspected as the cause.