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Artificial Intelligence: 1. The European Central Bank President warned of the risk of a financial crisis triggered by artificial intelligence. 2. French President Macron: The G7 unanimously agreed to establish an artificial intelligence cooperation platform. 3. Alibaba released HappyOyster 1.0, an open-world model product that can be built and interacted with in real time. 4. Trump: Negotiations regarding Anthropic are progressing well. Integrated Circuits (Chips): 1. LG Innotek plans to further expand the production of FCBGA substrates. 2. The US allocated $500 million to SandboxAQ to find new chip manufacturing materials. 3. TSMC and Amkor reached a 10-year cooperation agreement on advanced packaging capacity in Arizona. 4. Reports indicate that Google and AMD are considering outsourcing the production of future CPU processors to Samsung. 5. Nokia will significantly expand its advanced testing and packaging plant in Pennsylvania, USA, to support the development of the AI industry. 6. Reports indicate that Samsung Electronics showcased the worlds first 5nm MRAM development results, aiming for mass production in 2027. 7. Reports indicate that Apples next-generation flagship chip, the A22 Pro, may use TSMCs 1.4nm process and is expected to launch in 2028. 8. ByteDance reportedly ramps up its domestic computing power: in talks to purchase 50,000 inference chips from Tianshu Zhixin, with major internet companies racing to build computing infrastructure. Other: 1. Cook: Memory prices are rising, Apple products will increase in price. 2. Rumors circulating online that eight automakers vehicle manufacturing licenses have been permanently revoked are false. 3. my country successfully launched 22 low-orbit satellites for its satellite internet. 4. The US cargo "Dragon" spacecraft returned to Earth carrying scientific samples. 5. The Lijian-1 Y15 carrier rocket successfully rolled off the production line and is scheduled to carry out a "one rocket, five satellites" launch mission soon. 6. Several domestically produced high-speed optical communication chips have entered mass production; domestic optical fiber production capacity is projected to extend to 2027. June 18th - According to CNN, the English version of the 14-point US-Iran memorandum of understanding is less than 800 words, leaving many details for later additions, including the sensitive issue of Irans nuclear program. However, the memorandum does promise substantial funding for Iran—by lifting sanctions, Iran could sell oil to the world and potentially gain access to billions of dollars in frozen assets and $300 billion in financing support. The Trump administration is keen on reaching "multi-point" agreements. The agreement aimed at ending hostilities in the Gaza Strip was a 20-point plan, while the failed plan to end the Russia-Ukraine conflict was a 28-point plan.A Reuters poll shows that despite assurances from the Japanese government that supplies are sufficient, almost all Japanese companies are concerned about purchasing oil and petroleum products.1. All three major U.S. stock indexes closed lower. The Dow Jones Industrial Average fell 0.98% to 51,492.55 points, the S&P 500 fell 1.21% to 7,420.1 points, and the Nasdaq Composite fell 1.34% to 26,021.66 points. Salesforce fell over 4%, with Microsoft falling over 3%, leading the decline. The Wind U.S. Tech Big Seven Index fell 2.4%, with Facebook falling over 5% and Microsoft falling over 3%. SpaceX fell nearly 5%. The Nasdaq China Golden Dragon Index fell 1.14%, with Canadian Solar falling over 4% and Beike falling over 3%. Technology stocks led the decline, and Treasury yields surged. 2. The three major European stock indexes closed mixed. The German DAX rose 0.10% to 24,934.67 points; the French CAC40 fell 0.20% to 8,430.79 points; and the UK FTSE 100 rose 0.14% to 10,508.61 points. 3. The WTI crude oil futures contract closed down 0.35% at $75.01 per barrel; the Brent crude oil futures contract fell 0.38% to $78.66 per barrel. 4. International precious metals futures generally closed lower, with COMEX gold futures down 1.79% to $4276.30 per ounce and COMEX silver futures down 2.93% to $67.96 per ounce.Iranian Foreign Ministry spokesman: It has not yet been confirmed that Iran and the United States will hold talks in Switzerland on Friday.

Crypto Market Daily Highlights – SOL Tumbles Out of Top Ten

Cory Russell

Nov 10, 2022 16:34

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For the top 10 cryptos on Wednesday, it was a bearish session. BNB and XRP led the crypto top ten losses, while SOL fell by 38.6% to drop out of the top ten. For the fourth session in a row, BTC saw losses. BTC dropped below $16,000 for the first time since November 2020, which is noteworthy.


On Wednesday, the midterm elections and the US economic calendar took a backseat. Following news that Binance had signed a Letter of Intent (LOI) on Tuesday, the market's attention was still on the FTX and Binance transaction.


However, Binance indicated it would not move forward with the acquisition after doing thorough due diligence.


"As a result of corporate due diligence, as well as the latest news reports regarding the handling of customer funds and alleged US agency investigations, we have decided that we will not pursue the potential acquisition of FTX.com," Binance said in a statement announcing its decision to pull out of the deal.


According to Bloomberg, Sam Bankman-Fried, the CEO of FTX, informed investors that there is a gap of up to $8 billion and that the business will have to declare bankruptcy absent a capital infusion.


Changpeng Zhao (CZ), CEO of Binance, summed up the situation by stating that "FTX going down is not helpful for anyone in the business. DON'T consider it a "victory for us." There is a serious loss of user confidence. Exchanges will be more closely inspected by regulators. Globally, obtaining a license will be more difficult. Because they believe we are the biggest, they will attack us more. Our level of openness, proof of reserves, insurance funds, etc., must be greatly increased. There will be a lot more in this area. We still have a lot of challenging work to do. not to mention the dramatic fluctuations in pricing.


Contagion risk and greater regulatory scrutiny will be a focus in the near future with FTX potentially declaring bankruptcy.


When speaking on the past 48 hours, SEC Chairman Gary Gensler said, "Investors suffer damaged when we don't rely upon the time-tested public policy guardrails."


The recent 48 hours' worth of cryptocurrency market developments caused a greater decoupling from the NASDAQ Composite Index. On Wednesday, the cryptocurrency market declined by 14% while the NASDAQ plummeted by 2.48%.


For the upcoming day, the news wires will continue to control the cryptocurrency market. The cryptocurrency market will likely experience a domino effect for a third day in a row. Investors can nonetheless cling to the dream of a last-minute agreement saving FTX from failure.