Solid Intel 🛰

INTEL: Final rule letting 401(k) plans hold crypto sent to White House for review | Per Bloomberg Law

The Labor Department rule would give fiduciaries a legal safe harbor to add private equity, real estate and crypto to retirement plan options

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INTEL: Semiconductor index soars 5.4% at the US open

SanDisk leads with a 10.4% jump as the Dow slips 1%

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INTEL: US economy adds 165K jobs in October vs 65K expected

Before the report, CME FedWatch priced a 72.8% chance of a Fed rate hike in December

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INTEL: US and Iran move closer to a potential agreement to end the war | Per Bloomberg

Tehran is reportedly willing to discuss nuclear issues that were previously off-limits, a possible shift in the negotiations

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INTEL: North Korea-linked hackers may have had access to Binance systems 8 weeks before the hack, SEAL says

Binance said the attack began with a fake job interview that infected an employee's device and exposed wallet infrastructure credentials. North Korea denies any involvement

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INTEL: Hyperliquid Strategy $PURR now holds 16% of all HYPE in circulation

The Nasdaq-listed firm added about $790 million of HYPE last quarter, funded by issuing new shares

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INTEL: China's central bank stops Solana's Shanghai event before it starts

The PBOC says promoting Solana breaks February's crypto ban and will investigate the companies and people involved. The ad on Citigroup Tower in Lujiazui is part of the probe

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INTEL: ECB's Lane warns energy inflation will feed into wage talks and prices across the economy

He also says fiscal policy has been more expansive than expected, with tightening expected next year and after

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INTEL: Singapore Police Force says it prevented $17.4M in scam losses in a joint operation with crypto exchanges - Blockchain analysis + customer data from platforms including Coinbase and OKX - More than 383 victims identified - Intel shared with the FBI, New South Wales Police Force, and Canadian Anti-Fraud Centre - Led to identification of 32 foreign victims Twitter | News

INTEL: Multiple hedge funds reportedly facing heavy losses, investor withdrawals, and fund closures this week Named in the shakeout: - Axebrook - Walleye Capital ($17B) - worst month since Mar 2020 (-5.9% Oct); cutting equity L/S leadership + teams; returning capital; leaning into Vol + Quant - Engineers Gate - Lone Pine - Millennium internal pods - Verition pods - Samlyn Crowded AI + leverage is eating the multi-strats. Twitter | News

INTEL: Galaxy $GLXY CEO Novogratz buys $9.9 million of company stock after a 41% slide

Galaxy's board also approved an extra $200 million buyback program

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INTEL: 96 crypto wallets drained in 70 minutes in suspected Railway-linked attack

Definitive growth lead Carlos says his old hot wallet was emptied too. Relay says it has blocked the attacker's wallets and users with hot wallets should rotate keys now

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INTEL: TRUMP JUST NOW ON IRAN "I MAY HAVE TO DESTROY WHAT IS LEFT OF THE COUNTRY" "Now we will make a decision. Do we want to go further... and ensure that this will never happen again. I would prefer not to destroy what is left of the country, if possible, but I may have to do so. You will know very soon." Twitter | News

INTEL: 🚨 $3 TRILLION VANISHED FROM US STOCKS IN ONE SESSION AI and chip stocks cratered the day after the midterms.

Nasdaq 100: -6.3% S&P 500: -4.3%

AI giants:

$NVDA -9.0% $MSFT -3.5% $GOOGL -2.3%

Data centers got hit hardest:

$IREN -16.0% $NBIS -15.1% $CIFR -14.6%

The best post-midterm rally in 44 years lasted exactly one day. Crypto followed:

$BTC: -6.4% at the low $ETH: -7.9% at the low

The trigger: Democrats now hold Congress, and Rep. Yassamin Ansari says day 1 should bring a pause on advanced AI, tight regulation and a ban on superintelligence. Add Sanders' push for a national data center moratorium, and Wall Street is pricing an AI buildout slowdown. Twitter | News

INTEL: $17B hedge fund Walleye Capital appears to be caught in the AI tech sell-off, and the mysterious seller looking to dump $500M in data center loans may have just been exposed. Following its worst month since March 2020, Walleye has announced a major restructuring of its equity business, parting ways with its leadership and a substantial portion of its portfolio managers. The firm also plans to return a portion of its investors’ capital. Now, speculation is mounting that Walleye could be behind the mysterious $500M data center loan sale, potentially dumping assets as it retreats amid mounting pressure. If confirmed, this would be another major warning sign that the AI trade’s pain may be spreading beyond public equities and into private credit. Twitter | News

INTEL: Nasdaq on track for its deepest one-day drop in 19 months

Chipmakers sank on fears of tougher AI regulation after Democrats won control of the US Congress

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INTEL: Marco Rubio quitting the Trump administration to launch a 2028 presidential bid are rumours and have been shut down by the White House.

Officials called the reports “completely baseless” and “fabricated.”

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INTEL: CFTC lets clearinghouses run daily settlements through trust companies, not just banks | Per CFTC

Trust companies must be held to the same rules as a settlement bank

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INTEL: Core Scientific $CORZ plans to fully shut down its Bitcoin mining by Q4 2026

Once the world's largest Bitcoin miner, it will run purely as an HPC colocation provider from 2027

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