吴说获悉，Anoma 联合创始人 Christopher Goes（cwgoes）表示，Cosmos 生态当前几乎已经"死亡"：多 项目倒闭或转入维护（如 Penumbra、Osmosis），部分项目正离开 Cosmos（如 Noble）；ICF 资金重心 转向 ATOM 本身的价值捕获，用户与市场兴趣降至历史低位。他称，这一环境使 Namada 等项目在高 成本自研技术栈、验证者可持续性、用户需求不足等方面面临更大压力，若要服务以太坊或 Solana 资 产隐私，现有 Cosmos 技术路径已不再最优。 （来源：吴说） ...

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Core Insights - Royal Bank of Canada (RBC) aims to achieve an enterprise value of $700 million to $1 billion from artificial intelligence by 2027, as stated by RBC President and CEO Dave McKay [1][2] - The enterprise value from AI is calculated based on annualized exit run-rate benefits in revenue, cost avoidance, expense savings, fraud reduction, and lower cost of risk, net of investments, starting from fiscal 2024 [3] AI Capabilities and Initiatives - RBC's AI initiatives include the Lumina platform for analyzing transactions, the proprietary ATOM model trained on large-scale financial datasets, generative AI for call center support, and the Aiden platform for document preparation and summarization [5] - The bank is implementing machine and reinforcement learning models and has partnered with Nvidia to enhance its AI strategy, focusing on reimagining workflows in commercial, corporate, and investment banking [6] - RBC has launched its internal AI tool, RBC Assist, to over 30,000 employees, improving productivity across various roles [7] Strategic Goals and Benefits - The bank's AI strategy aims to enhance developer productivity, upskill advisors, and improve client engagement through personalized services [4] - Key initiatives are also focused on enhancing security, technology operations, and AI-enabled developer productivity, with significant outputs including over 5 million lines of code and extensive code reviews and test suites [7]

Core Insights - Royal Bank of Canada (RBC) aims to achieve an enterprise value of $700 million to $1 billion from artificial intelligence by 2027, as stated by RBC President and CEO Dave McKay [1][2] - The enterprise value generated from AI is measured by annualized exit run-rate benefits in revenue, cost avoidance, expense savings, fraud reduction, and lower cost of risk, net of investments, starting from fiscal 2024 [3] AI Capabilities and Initiatives - RBC's AI capabilities include the Lumina platform for analyzing transactions, the proprietary foundation model ATOM trained on large-scale financial datasets, generative AI for call center support, and the Aiden platform for document preparation and summarization [5] - The bank is implementing machine and reinforcement learning models and has partnered with Nvidia to enhance its agentic AI strategy, focusing on reimagining mortgages and workflows for various banking teams [6] - RBC has launched its internal AI tool, RBC Assist, to over 30,000 employees, enhancing productivity across front office and functional roles [7] Strategic Goals and Benefits - The bank announced its AI enterprise value target during an investor day event, highlighting benefits such as improved developer productivity, upskilled advisors, and enhanced client engagement [4] - Key initiatives across the bank include enhancing security, technology operations, and AI-enabled developer productivity, with significant outputs such as over 5 million lines of code and 55,000 code reviews [7]

The Cosmos community has released a proposal to start researching and gathering ideas for a new tokenomics model for ATOM. The core model should be revenue/fee-based. Key ideas include:- Gradually increasing staking rewards to favor long-term stakers- Reducing inflation- Unifying the ecosystem around ATOM as the reserve, gas, and settlement asset- A variable inflation model tied to accumulated fees https://t.co/he2YQuHarw ...

Market Trends - Crypto market experienced a pullback in November, but attention should be paid to projects with significant spikes in trading volume [1] - Top 10 volume risers this week are listed, indicating potential shifts in market interest [1] Projects to Watch - Kelp DAO's RSETH, Ethena Labs' sUSDe, rzcoin's RZ, Starknet's STRK, Picoreteam's PI, Cosmos' ATOM, Jewelry Token's JEWELRY, ASI Alliance's FET, Astorcoin's ASTER, and Zcash's ZEC are identified as top volume risers [1] Resources - A screener is available to track assets with the highest percentage jumps in trading volume [1]

Core Insights - The digital asset market experienced its largest liquidation event on October 10, termed as crypto's Black Friday, with over $19 billion in leveraged positions liquidated [1] - The sell-off was triggered by President Trump's announcement of a proposed 100% tariff on Chinese imports, leading to global risk aversion across various asset classes [2] - Bitcoin, ether, and solana saw significant price drops, with bitcoin falling to $106,560, ether to $3,551, and solana to $174, while smaller-cap tokens dropped more than 75% intraday [2] Market Dynamics & Scale of Deleveraging - Total perpetual futures open interest decreased by 43%, from $217 billion on October 10 to $123 billion by October 11, marking the largest single-day contraction on Hyperliquid with a 57% decline [3] - Approximately $16 billion of the $19 billion total liquidations originated from long positions, with most traders using 2x leverage or higher without stop-losses [4] Structural Stress & Order Book Collapse - The event highlighted the interconnectedness of liquidity, collateral, and oracle systems, evolving into a market-wide stress event as prices hit key liquidation levels [6] - Market depth collapsed by over 80% across major exchanges within minutes, with large-cap assets like ATOM experiencing near-zero bids due to market makers withdrawing liquidity [7] - The shared collateral across assets and reliance on local price feeds amplified volatility, affecting even well-capitalized platforms as liquidity disappeared [7]

Core Insights - The cryptocurrency market experienced a historic liquidation event, with Bitcoin's price dropping from over $126,000 to a low of $105,000 before rebounding above $110,000 [3][13] - Altcoins faced severe declines, with notable drops in prices for various cryptocurrencies, indicating a widespread market impact [5][6] - The total liquidation amount reached approximately $19.37 billion, marking it as one of the largest liquidation events in cryptocurrency history [8][9] Market Impact - Bitcoin's price fluctuated significantly, with a peak of $122,514 and a low of $107,520, resulting in a 12.2% decrease [7] - Ethereum also saw a drop from around $4,700 to below $3,500, reflecting a 20% decline [6][7] - The liquidation event affected over 1.6 million traders, predominantly long positions, highlighting the volatility in the market [8][9] Exchange Performance - Hyperliquid emerged as the center of the liquidation event, recording the highest liquidation amount of $10.31 billion, despite being smaller than competitors like Bybit and Binance [10] - The automatic deleveraging mechanism on Hyperliquid was criticized for exacerbating the sell-off, leading to significant losses for many traders [12] Trader Outcomes - The top 100 traders on Hyperliquid collectively earned $1.69 billion, while the top 100 losers lost $743 million, resulting in a net profit of $951 million concentrated among a few highly leveraged short sellers [12] - The largest gain was reported by a trader who made over $700 million through short positions, while the biggest loser, known as "TheWhiteWhale," lost $625,000 [12] Future Outlook - The market is expected to experience continued volatility, with potential further impacts on funds and market makers in the coming days or weeks [14]

Core Insights - The crypto market experienced its largest liquidation event in history, with approximately $19 billion liquidated in a single day, marking it as the worst day for crypto ever [2][4][6] - The significant drop in Bitcoin's price from $118,000 to $101,000 was triggered by President Trump's threats of 100% tariffs on Chinese tech, leading to a broader market collapse [2][4] - Altcoins suffered even greater losses, with some, like SUI, plummeting by as much as 80% [2][4] Market Impact - A total of ~$19.1 billion in positions were liquidated, with ~$16.7 billion of those being long positions, indicating a massive forced unwinding across exchanges and perpetual protocols [3][4] - The open interest in the market was reduced by $65 billion, effectively resetting market positioning to levels seen in midsummer [3][4] - The event left over 6,300 wallets in the red, with more than $1.2 billion in trader equity vaporized [3][4] Recovery and Future Outlook - Following the crash, major cryptocurrencies, including Bitcoin, have shown signs of recovery, with Bitcoin trading at approximately $114,100 [6] - The market is still assessing the full implications of the liquidation event, and the exact causes remain unclear [7]

Core Viewpoint - The recent market turmoil in the cryptocurrency sector was primarily driven by macroeconomic factors rather than systemic failures of Binance, despite the platform experiencing technical issues during the crash [1][3][4]. Group 1: Market Events - The market downturn began on a Friday, triggered by U.S. President Trump's tariff threat, leading Bitcoin to drop 13.5% from a peak of over $126,000 [3]. - During this period, users reported significant issues on Binance, including system delays and account freezes, exacerbating their losses [3][9]. Group 2: Binance's Response - Binance acknowledged technical problems but emphasized that its core trading functions remained operational throughout the incident [1]. - The platform processed a relatively low proportion of forced liquidations compared to total trading volume, indicating that the market decline was largely influenced by external conditions [1]. - Binance compensated users affected by asset decoupling, with total payouts amounting to approximately $283 million within 24 hours of the incident [1]. Group 3: Asset Decoupling and Allegations - There were speculations about a targeted attack on Binance's Unified Margin system, which allows users to use multiple assets as collateral, potentially leading to a collapse in collateral values [4]. - Binance refuted claims that asset decoupling was the cause of the market crash, stating that the market drop occurred before significant asset decoupling [4]. Group 4: Technical Issues and User Concerns - Users expressed concerns over sudden price drops of tokens like ATOM and IOTX, which were perceived as market manipulation [6]. - Binance explained that these price drops were due to a lack of buy orders and the triggering of historical limit orders set at very low prices, not actual price collapses [6]. - The platform also addressed user interface issues that led to misleading price displays, promising to optimize and correct these problems [6].