SpaceX disclosed in a regulatory filing submitted Friday that longtime board member Donald Harrison had resigned. According to Sina Finance, Harrison submitted notice of his resignation on November 4; the filing said he did not resign because of any disagreement with the company over its operations, policies, or business practices. Harrison was Google's president of corporate development. Google invested nearly $1 billion in SpaceX in 2015, and still holds a substantial stake in the company. Harrison was one of SpaceX's independent directors, a group responsible for evaluating a possible merger between SpaceX and Tesla, which CEO Elon Musk is pursuing. SpaceX's board now has five independent directors remaining.

According to ChainCatcher citing The Block, stablecoin payments startup Raycash, spun out of privacy protocol Zama, has launched on Ethereum mainnet and entered private beta. Raycash said more than 75,000 people joined its waitlist before launch; access will open in batches during the beta before a broader release. Built on Zama’s protocol, Raycash uses fully homomorphic encryption to conceal on-chain balances and transaction amounts. Users can wrap stablecoins 1:1 into confidential tokens under the ERC-7984 standard for payments and transfers, and earn yield through Morpho. The underlying stablecoins can be permissionlessly unwrapped. The app initially supports USDC, with deposits available via bank transfer, bank card, or stablecoin and withdrawals to bank accounts. Raycash handles Ethereum gas fees in the background, so users do not need to hold ETH. Raycash said its wallet is self-custodial and that confidential tokens cannot be frozen or seized at the token level. Users can grant selected parties, such as accountants and auditors, access to view transaction information. A Raycard for private spending is in development.

Hedge funds sold global technology stocks last week at one of the fastest paces on record, according to Bloomberg. Concerns that political opposition could derail the data-center buildout prompted an aggressive reassessment of the artificial intelligence trade.

Given Nvidia and Megaspeed's special roles in the chip industry, this private scandal involving the head of a global AI chip giant is far more than just a personal scandal...

European stocks rose, led by banks, while technology shares also advanced, according to Bloomberg. Italy’s UniCredit SpA had better-than-expected earnings, and a merger proposal for Banco BPM SpA was reported.

Samsung Electronics and SK Hynix are competing to secure EUV lithography equipment deliveries as they expand advanced DRAM production, with each planning investment in the range of 10 trillion to 20 trillion won. According to Sina Finance, ASML has identified a shortfall in EUV supply for 2027–2028, and the two companies plan to take delivery of equipment in batches starting next year. SK Hynix disclosed in March that it would purchase EUV equipment worth about 11.95 trillion won, with delivery due by December 31, 2027. Equipment lead times have doubled from their previous maximum amid tight supply, prompting both companies to consider placing orders earlier and potentially adding orders later. Samsung is also increasing orders in line with its investment schedule at its Pyeongtaek site. Last November, it announced a five-year, 450 trillion won domestic investment plan that includes the P5 production line, which is targeted to begin production in 2028. Investment in a single P5 fab is reportedly more than 60 trillion won. The first-phase cleanroom work is expected to finish in the first half of next year, with equipment moving in afterward; Samsung has ordered lithography equipment for the line. EUV lithography uses a 13.5-nanometer wavelength light source to etch circuits and can reduce the need for multiple patterning, which splits patterns across repeated exposures. As circuit spacing narrows in advanced DRAM, including 10-nanometer-class sixth-generation 1c products, the number of process layers using EUV is increasing. TrendForce said SK Hynix plans to use EUV in more than five process layers for 1c DRAM, two more than in the previous generation. ASML said in its third-quarter report this year that, under current plans, EUV supply in 2027–2028 will not meet customer demand. It expects to ship about 65 EUV units this year, up nearly 50% from 44 last year. Supply would still fall short even if capacity rises 30% in 2027 and is planned to expand by another 30% in 2028. The effect of price increases for core products is expected to emerge gradually next year and be fully apparent in 2028. Storage customers accounted for 46% of ASML system sales in the third quarter this year. Samsung shipped the industry’s first EUV-based DRAM module in March 2020 and has since built up process experience; it currently has more EUV equipment than any other company in the memory sector. SK Hynix installed its first EUV machine at its M16 plant in Icheon in February 2021 and introduced the industry’s first High-NA EUV production machine last September. On September 8, Samsung announced an expanded partnership with ASML and plans to introduce High-NA EUV into DRAM production in 2028. Orders for back-end equipment makers are booked out two to three years, according to industry sources. HANMI Semiconductor and Amkor have largely filled their order books and are expanding production of key equipment for AI data centers, including thermal-compression bonders. An industry source said back-end processes for multidimensional chip packaging and interconnection are becoming more valuable alongside advanced front-end processes, and that HANMI Semiconductor and Amkor are increasingly tied to the cycle of major front-end manufacturers.

According to Jin10, Nikkei reported that Toyota will launch the U.S.-made Camry in Japan in late November, importing it in a specification for the Japanese market.

Elysium, the first Layer 2 ecosystem project on Hyperliquid, is scheduled to launch its mainnet on the evening of November 9, but interest has cooled ahead of the launch. According to PANews, only six tokens have market capitalizations of at least $1 million, with no notable wealth-creation effect reported; controversy has also arisen over allegations that an MEV bot received privileged trading access, and the team’s responses were inconsistent.

Wall Street's olive branch failed to support HYPE: the combination of priced-in profits, token allocation, and policy uncertainties caused the price to surge and then decline.

Huang Renxun's scandal has brought Singaporean computing power provider Megaspeed to the forefront: chips are not exported, computing power is leased back to China via Southeast Asian data centers, how long can the loopholes in export controls be exploited?

From the ban on MEXC and the settlement between Binance and OKX to the introduction of ICE, the United States is using three lines—law enforcement, investment, and dollar-denominated stablecoins—to incorporate global exchanges into its financial network.

DeepSeek, AI Agent, Harness: The "shell product" of yesteryear first proved the concept of DeepSeek Super-agent. Golden Finance: A single function can be copied in ten days, but thousands of instances of dissatisfaction cannot.

When a tech industry executive is embroiled in a private scandal, the market already has a well-established script for how to react.

Investors are forced to confront an increasingly clear fact: the US economy is not heading towards recession, nor has it slowed down significantly; rather, it is experiencing a new round of re-acceleration.

As time goes on, the next step is to buy into technology/application layer companies that are expected to have the ability to "keep profits in their hands" as hardware and software needs are gradually met.

What we need to observe next is not only when the Nasdaq stops falling, but also whether the US stock market correction will further affect liquidity, and whether the crypto market can regain independent buying support.

Nvidia CEO Jensen Huang issued an open letter to all employees on Sunday, formally admitting to an extramarital affair and apologizing for "infidelity" to his wife. The board of directors announced the launch of an independent investigation on the same day. Nvidia's stock price fell more than 3% in overnight trading, further increasing the uncertainty facing the company.