Desk: Brent Crude Tops $110, Musk's Net Worth Drops 528.6 Billion in Four Days After Tesla Roadster Launch

AI / Large Models

DeepSeek V4.1 Flash 1017 Released, Hits Both Zhihu Hot List and HN Top List Within a Day

DeepSeek's latest Flash series models are now live on HuggingFace and OpenRouter, sparking intense discussion in the Chinese community.

Trending Discussion: Will speed and cost lower industry expectations again? Some users are debating whether it's suitable for local deployment.

Source: HuggingFace | OpenRouter | Zhihu

Anthropic Uses Claude to Trace Bitcoin ECDSA Curve Origins, Sparking Divisive Community Reactions

Claude's research identified possible origins for the ECDSA elliptic curve parameters, with 335 comments on HN debating whether this is a genuine discovery or model hallucination.

> Hot Take: If AI helps you dig up crypto's dark history today, will it be helping you track down your ex's alt accounts tomorrow?

Source: Anthropic | HN

Claude Code Team Reveals Internal Code Review Methodology

Anthropic's official blog detailed how they use Claude for code reviews, with 338 HN comments focusing on "whether AI review is truly more reliable than humans".

Source: Claude Blog | HN

Gemini 4 Argon Live Demos Playing StarCraft

A Show HN post showcased a benchmark page of Gemini 4 Argon playing StarCraft in real-time, with most of the 101 comments questioning "whether this even counts as being able to play."

> Hot Take: AI's StarCraft skills are roughly equivalent to a human player crying while playing.

Source: starskirmish | HN

Jailbroken PS5 Can Natively Run Any GGUF Model

llama.cpp has been ported to jailbroken PS5s, garnering 302 upvotes. This project turns the console into a local inference device.

Source: GitHub | HN

Llmspeed Goes Live: Benchmark First, Buy Hardware Later

The new tool lets you experience the actual runtime performance of local large models before purchasing hardware, helping you decide which GPU to pair.

Source: llmspeed.dev | HN

Crypto / Web3

DTCC Announces 25 Tokenized Securities Plans, with Canton and Private Besu as Initial Networks

The U.S. Depository Trust & Clearing Corporation officially launched its tokenized securities roadmap, with tokens transferring 24/7 between DTC registered wallets, though conversion operations are limited to business days.

Source: DefiantNews

Visa Supports Global USDC Payments via Visa Direct, Covering Over 180 Countries

This marks a major step toward stablecoins entering mainstream payment networks. On the same day, Japan's three "mega-banks" completed their first cross-border crypto stablecoin payment test.

> Hot Take: Stablecoins are transitioning from "crypto settlement tools" to a true global payment layer, with traditional banks moving faster than many Crypto projects.

Source: CoinbaseMarkets

Solana Q3 Data Sets Comprehensive Records: App Revenue Hits $299M, Tokenized Stocks Reach $7.1B

Solana app revenue grew 48% quarter-over-quarter, with DEX spot volume at $197.2 billion. The chain processed 14.2 billion transactions, averaging approximately 1,790 per second.

Source: Solana

RWA Perpetual Contract Volume Surpasses $2 Trillion in a Single Quarter, Pyth Priced at $2.04 Trillion of It

Real-world asset derivatives have become one of the fastest-growing segments in the crypto market, with end-of-quarter open interest hitting a record high of $12.6 billion.

Source: PythNetwork

Starknet Initiates Vote on Transition to L1, Community Overwhelmingly Approves

Starknet opened a non-binding vote on whether to decouple from Ethereum and operate as an independent L1 chain, with community feedback currently showing near-unanimous "Yes" votes.

Source: StarkWare

TRON Q3 Stablecoin Daily Transfer Value Hits $24 Billion, USDT Supply Grows to $94.25 Billion

Justin Sun released Q3 data: stablecoin quarterly transfer volume reached $2.2 trillion, with monthly active accounts averaging around 18 million, a nearly 10% quarter-over-quarter increase.

Source: justinsuntron

Chips / Hardware

SemiAnalysis: Nvidia Said to Bar Neocloud from GTC Berlin Over Inclusion of AMD/TPUs

Multiple cloud providers confirm that adding AMD GPUs or TPUs to their offerings leads to Nvidia pressuring them or revoking conference access. While hyperscalers remain unaffected due to massive purchase volumes, smaller cloud providers are beginning to consider "quietly" launching competing chips.

> Hot Take: Nvidia mouths "open ecosystem" while practically enforcing "all green or get out".

Source: SemiAnalysis

Vontobel Significantly Increases Nvidia and Microsoft Holdings in Q3, Liquidates Nearly All Netflix Position

Quarter-end holdings from the Swiss asset management giant show: increased Nvidia by $349 million to $1.57 billion, added $360 million to Microsoft; slashed Netflix to near zero.

Source: SEC

Tech Companies

Tesla Roadster Officially Debuts, Musk’s Net Worth Evaporates RMB 528.6 Billion in Four Days

The new vehicle abandons the dual-motor AWD setup, uses dedicated 4680 batteries, and targets a weight under 1.7 tons. Following the unveiling, both Tesla and SpaceX stocks continued to plummet, leaving the market skeptical about the commercial viability of the "flying Tesla".

Trending Discussion: 284 Zhihu comments debate whether this is an engineering marvel or just another distraction tool by Musk.

Source: Tesla | Zhihu | Wall Street CN

Apple Opens Source MLX Distributed Inference, Supporting Multi-Mac Studio Clusters

Apple ML Research has released an MLX distributed inference solution, meaning larger models can now run across multiple Mac Studios.

Source: Apple | HN

Apple Updates App Store Rules, Cracks Down on "Nudify"-Style AI Apps

New guidelines explicitly ban apps that use AI to generate non-consensual intimate images of others or facilitate sexual harassment, marking another tightening of AI content governance.

Source: The Verge

iPhone Duo Demand "Astonishing," Apple Begins Developing In-House Smart Home Devices

Apple states demand for its folding-screen device has exceeded expectations, while confirming it is developing its own Home series smart home product lineup.

Source: The Verge | CLS.cn

US Stocks

AI Trading Concerns Crush Nasdaq: Drops Over 2%, CoreWeave Plunges 12%, VIX Breaks Above 22

This marks the Nasdaq's largest single-day drop since July 23, with semiconductor and storage stocks falling across the board. Markets are now seriously pricing in the question of "how long can AI giants sustain this?".

Trending Discussion: Blue-chip stocks have fallen for a long time, now it's the AI giants' turn—this divergence has been labeled the "most dangerous divergence".

Source: Wall Street CN | Wall Street CN | CLS.cn

Finance / Macro

Brent Crude Surges Past $110, First Time Since May Last Year

Iran continues to attack tankers in the Strait of Hormuz, while Saudi Arabia intercepted a ballistic missile fired toward Yanbu. Traders heavily accumulated call options ahead of the weekend.

Source: Bloomberg | CNBC

Hormuz Strait Transit Volume Down 70% From Pre-Conflict Levels, UK Maritime Agency Admits Many Attacks Go Unreported

Multiple sources confirm Iran is directly firing on transiting vessels, with several hit or disabled and at least two sunk. Although US escort operations have restored some traffic, shipping rates and insurance premiums remain extremely high.

Source: UKMTO | staunovo

Multiple Banks Raise Deposit Rates, Five-Year Fixed Deposits Hit 2.1%

Sparking 2.95 million views on Zhihu's hot list. Banks are beginning to compete for deposits, likely a response to current liquidity constraints and asset-side pressures.

Source: Zhihu

The Hidden Thread Today

Today's market is being pulled in two directions simultaneously: one is the accelerated "traditionalization" of crypto infrastructure—DTCC rolling out tokenized securities, Visa integrating USDC, Japanese banks testing cross-border stablecoin payments; the other is extreme macro risk—attacks on the Strait of Hormuz, oil breaking $110, and a single-day Nasdaq drop of over 2%.

While seemingly unrelated, the two are actually two sides of the same coin. When global trade routes become uncertain due to geopolitical conflict, capital will naturally accelerate its search for a settlement layer that "doesn't rely on the physical world"—which bodes well long-term for stablecoins and tokenized assets. Meanwhile, the crash in AI stocks shows the market is re-pricing "grand narratives": from last year to today, both AI and crypto enjoyed "infinite expectations," but now they must face reality together—actual interest rates, energy costs, and tangible global risks.

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