What important events happened in the past 24 hours?

What were the key events of the past 24 hours?

Google plans to sell TPUs directly to Meta, potentially further eroding Nvidia's market share.

According to ChainCatcher, Alphabet (GOOG.O), Google's parent company, is in talks with companies like Meta (META.O) to grant them access to its self-developed Tensor AI chips, further expanding its competitive position against Nvidia (NVDA.O). Following this news, Google and its AI chip partner Broadcom rose in after-hours trading, while Nvidia and AMD shares fell. Traditionally, Google has only deployed its self-developed TPUs in its own data centers and leased computing power to customers. However, US tech media The Information reported on Monday evening that Google now plans to sell TPU chips directly to customers for deployment in its own data centers.

Meta is considering purchasing billions of dollars worth of Google TPU chips for its data centers starting in 2027, and also plans to begin leasing TPU computing power from Google Cloud as early as 2026. Meta's AI business currently relies heavily on Nvidia GPUs. This represents a huge potential emerging market for Google and Broadcom, who co-design Tensor chips. It could also create significant competitive pressure on Nvidia and AMD, potentially impacting their sales and pricing power.

James Wynn predicts Bitcoin will fall to $67,000 this week, having accurately predicted the previous drop.

ChainCatcher reports that James Wynn has again issued a bearish prediction on the X platform, stating that Bitcoin may fall to $67,000 this week. It's worth noting that on November 10th, James Wynn posted a message to the community, expressing his belief that Bitcoin would fall back to the $67,000–$92,000 range, when the price was $105,600.

DOGE: Reuters' report on its demise is fake news.

ChainCatcher reports that the DOGE (United States Department of Government Efficiency) stated on the X platform that Reuters' report on its demise is fake news. The department will resume its routine Friday updates in a few days.

The American people have authorized President Trump to modernize the federal government and reduce waste, fraud, and abuse. Last week alone, the department terminated 78 wasteful contracts, saving taxpayers $335 million.

Michael Saylor: Will Destroy Private Keys Worth Over 17,000 BTC, Considering Them a "Legacy"

ChainCatcher reports that Michael Saylor stated he will destroy the private keys to over 17,000 BTC, worth $1.5 billion, calling them "my legacy."

"The Big Short" Michael Burry "Returns," Publishes Opinion Warning of AI Bubble Risks

ChainCatcher reports that, according to Wall Street News, after rumors of fund cancellations and media exaggeration of his AI short positions, Michael Burry, the inspiration for the movie "The Big Short," fulfilled his promise and "returned" on November 24th.

Burry expressed his "short AI" stance in his first column, "The Main Signs of a Bubble: The Gluttony of the Supply Side." In this article, he formally declared war on the current AI boom, with Nvidia at the center of the storm. He directly compared Nvidia to Cisco in its heyday.

Regarding the mainstream market view that "tech giants are highly profitable, therefore there is no bubble," Burry offered a sharp rebuttal. He cited data from the peak of the 1999 dot-com bubble, pointing out that the boom was also driven by highly profitable companies, not just small websites with no revenue. Burry argued that the key problem with the current AI boom is "catastrophic oversupply and far-fetched undersupply," concluding that no matter how many people try to prove this time is different, history is repeating itself.

Vitalik Buterin Comments on SitusAMC Attack: Privacy Is Not an Option, But a "Hygiene Habit"

ChainCatcher reports that, according to market sources, customer data from major US banks such as JPMorgan Chase, Citigroup, and Morgan Stanley may have been leaked due to a cyberattack on mortgage technology provider SitusAMC.

The company confirmed on Saturday that a threat actor stole data related to several large financial institutions, including "accounting records, legal agreements," and some customer-related data. The scope, nature, and extent of the leak are still under investigation. Ethereum co-founder Vitalik Buterin commented, "Privacy is not a feature, but a hygiene habit." His response echoes the point emphasized throughout the year that privacy should be considered a fundamental requirement of digital systems, not an add-on feature.

Analysis: Bitcoin Sharpe Ratio Has Fallen Below 0, Possibly a Sign of a Major Bottom

ChainCatcher reports that, according to CryptoQuant data, Bitcoin's Sharpe ratio has fallen below 0, reaching its lowest level since the FTX crash. Furthermore, the chart shows multiple instances where the Sharpe ratio fell to zero or near zero, typically coinciding with Bitcoin price bottoms or significant reversals.

The Sharpe ratio is a metric that measures the relationship between investment returns and risk. A Sharpe ratio close to zero usually indicates significant price volatility, but the returns are insufficient to offset the risk. This often occurs at market bottoms or during capitulation (panic selling).

Paxos Announces Acquisition of New York Crypto Wallet Startup Fordefi for Over $100 Million

According to ChainCatcher, citing Fortune, crypto payment infrastructure company Paxos announced the acquisition of New York-based crypto wallet startup Fordefi for over $100 million. Fordefi focuses on crypto wallet solutions designed for decentralized finance (DeFi) and currently has approximately 40 employees serving about 300 clients.

Paxos CEO Charles Cascarilla stated that the acquisition was to meet the growing DeFi access needs of its clients. Fordefi will initially operate independently, but Paxos plans to eventually integrate its technology into its infrastructure. This marks Paxos' second acquisition in the past year, following its acquisition of Finnish stablecoin issuer Membrane Finance to comply with EU cryptocurrency regulatory requirements.

US Core PPI rose 0.1% month-on-month in September, below the expected 0.2%

According to ChainCatcher, citing Jinshi, the US core PPI rose 0.1% month-on-month in September, below the market expectation of 0.2%, and the previous value was -0.1%.

Over 300 US Families Sue Binance, Accusing It of Providing Trading Services for Hamas

According to ChainCatcher, citing Decrypt, Binance is facing a new lawsuit accusing the exchange of creating a system that allowed trading of cryptocurrencies associated with Hamas between 2017 and 2023.

The lawsuit was filed in North Dakota federal court by over 300 American families who were killed or injured in Hamas attacks. The plaintiffs allege that Binance's corporate structure and compliance practices allowed users associated with terrorist organizations to transfer funds through the centralized cryptocurrency exchange. The lawsuit alleges that Binance lacked adequate controls, exhibiting weak customer verification, a hybrid wallet offering mixed assets, and restrictive internal communication practices that hindered oversight. The plaintiff's lawyers stated that Binance not only intentionally provided financial services to Hamas but also actively sought to protect its Hamas clients and their funds from scrutiny by US regulators or law enforcement.

Federal Reserve's Kashkari: Artificial Intelligence Has Practical Applications, But Not in the Cryptocurrency Sector

ChainCatcher reports that, according to Jinshi Data, Federal Reserve's Kashkari stated that artificial intelligence does have practical applications, but not in the cryptocurrency sector.

Hong Kong SFC Finalizes Regulatory Framework for Digital Asset Trading and Custody Services

ChainCatcher reports that Hong Kong SFC Chief Executive Officer Leung Fung-yee stated that Hong Kong is committed to building a safe and reliable digital asset platform and is finalizing a regulatory framework for digital asset trading and custody services. This will be the final two pieces of the regulatory puzzle in establishing a robust digital asset ecosystem.

Hong Kong is increasingly adopting tokenized financial products, such as green bonds, money market funds approved by the Hong Kong Securities and Futures Commission, and retail gold products. The market size for these tokenized products in Hong Kong is approximately US$3 billion.

Trump says he will visit China next April

According to ChainCatcher, citing data from Jinshi, Trump posted on social media that he will visit China next April. "Things are only going to get better, our relationship with China is very strong!" he wrote, adding that the call would be a further communication following a "very successful" meeting in South Korea. Since that meeting, the US and China have made "significant progress" in ensuring the relevance and accuracy of bilateral agreements.

Changpeng Zhao Denies "Jackie Chan to Play Zhao Changpeng in Documentary"

ChainCatcher reports that Changpeng Zhao has denied rumors that Jackie Chan will play Zhao Changpeng in the upcoming Netflix biographical documentary "The Crypto King," stating, "That's false. I like Jackie Chan, but he's 71 years old. Leave him alone! I'm still working on finishing this book. The last 5% of editing always takes up 95% of the time."

Pump.fun Co-founder Denies Project Cashes Out USDC Through Kraken

ChainCatcher reports that in response to Lookonchain's claim that "Pump.fun has cashed out at least 436.5 million USDC through Kraken since October 15th," Pump.fun co-founder Sapijiju responded, "This is completely false. Pump.fun has never cashed out (i.e., the Kraken and Circle transactions that Lookonchain alleges Pump.fun is involved in). The actual situation is..." As part of Pump.fun's fund management, the USDC obtained from the PUMP ICO has been transferred to different wallets to reinvest the company's operating funds into its business. Pump.fun has never directly partnered with Circle.

Musk: Grok 5 to Challenge Top League of Legends Teams Next Year to Verify AGI's Adaptability in Complex Games

According to ChainCatcher, Musk has announced plans to use Grok 5 to challenge top human League of Legends teams in 2026, limiting it to human vision and reaction speed, to verify AGI's adaptability in complex games. Musk emphasized that Grok 5 is designed to allow users to play any game simply by reading the instructions and experimenting.

It is reported that xAI's Grok 5 is planned for release in early 2026, boasting a parameter scale of 6 trillion, supporting multimodal capabilities, and having a 10% probability of achieving general artificial intelligence, surpassing previous models. This challenge emphasizes that AI can autonomously play games by reading instructions and experimenting, recruiting talent to drive breakthroughs in xAI in the field of game AGI, and demonstrating its potential from simulation to real-world applications.