Crypto Morning Brief: Li Jiaqi’s Livestream Sells 2 Trillion Tokens in Half an Hour, Strategy Acquires 811 BTC Last Week

Author: TechFlow

Yesterday's Market Updates

Strategy Buys 811 BTC Last Week and Repurchases Approximately $208.2 Million in STRC Preferred Shares

According to an 8-K filing submitted by Strategy, the company repurchased 2,092,035 shares of STRC preferred stock between October 26 and November 1 at a total cost of approximately $208.2 million, funded by U.S. dollar cash.

As of November 1, the company's digital credit securities repurchase program still had approximately $748.6 million in available capacity. During the same period, Strategy purchased 811 BTC, bringing its total holdings to 849,327 BTC as of November 1.

Brazilian Crypto Exchange Mercado Bitcoin Suffers Security Incident, Pauses Deposit and Withdrawal Services

The Brazilian cryptocurrency exchange Mercado Bitcoin announced on the X platform that it detected a security incident involving its internal systems early on November 2 and took swift action to contain it.

Mercado Bitcoin emphasized that the incident did not result in any loss of customer assets or data breaches. As a precautionary measure, the platform has temporarily suspended deposit and withdrawal services.

Currently, the relevant team is investigating the cause of the incident, tracking involved assets, and coordinating follow-up measures with regulatory authorities. The platform stated it will continue to provide updates.

Li Jiaqi's Livestream Sells 2 Trillion Tokens in Half an Hour

According to Yicai (First Financial), Qwen Office Token was listed on Li Jiaqi's livestream. Journalists learned that within half an hour of launch, the stream sold 100,000 monthly personal membership cards for Qwen Office, totaling approximately 2 trillion tokens.

That evening, Qwen Office CEO Chen Yusen appeared in Li Jiaqi's livestream to share everyday scenarios for using AI in office work, stating that AI cannot replace Li Jiaqi, but rather aims to help fans use AI to handle trivial tasks—getting off work on time, spending time with pets, and caring for family.

ZachXBT: EU Entity Suspected of Losing Over $106 Million in Crypto Assets, Funds Transferred Across Multiple Chains

ZachXBT issued a security alert stating that a certain EU entity apparently lost over $106 million in crypto assets from multiple centralized exchange accounts on November 1. The involved funds were withdrawn by suspected attackers in the form of USDC and USDT.

Over the past 24 hours, the related addresses continuously swapped USDC for ETH and transferred funds to instant swap platforms such as WellWallet and Kyrrex. Additionally, assets were converted into XMR via Wagyu and moved across multiple blockchains.

Marvell Announces ~$115 Billion All-Stock Acquisition of Lumentum to Target AI Optical Interconnect Market

According to a press release from Marvell Technology, the company has reached a definitive acquisition agreement with optical communication technology firm Lumentum to acquire it via an all-stock transaction, implying an enterprise value of approximately $115 billion.

Under the agreement, each share of Lumentum held by its shareholders will convert into 4.5 shares of Marvell stock, valuing each Lumentum share at approximately $1,132. This represents a premium of about 23.9% over the closing price on October 28 before acquisition rumors affected the stock. Following the transaction, original shareholders of Marvell and Lumentum will hold approximately 67% and 33% of the combined company, respectively.

This acquisition will combine Marvell's semiconductor and network interconnect technologies with Lumentum's laser and optical transceiver technologies. Both parties anticipate that the combined company's potential addressable market will expand to $550 billion, achieving annual cost synergies of over $1 billion. The deal is expected to close in the first half of 2028, pending approval from shareholders and regulators.

Arkham: Binance Hacker Deposits Approximately $4 Million into Binance Deposit Addresses

According to Arkham's monitoring, the Binance hacker addresses have cumulatively deposited approximately $4 million into three Binance deposit addresses.

Arkham suggests these addresses may belong to nested services, which are third-party exchanges utilizing Binance to provide liquidity and custodial services.

Coinbase CEO: Company Treasury Holds 18,000 Bitcoin

Coinbase CEO Brian Armstrong disclosed that the company recently added its 18,000th Bitcoin to its treasury investment holdings.

South Korea Plans to Impose 11% Capital Gains Tax on U.S. Stock Perpetual Contract Profits Starting in 2027

According to Korea's Maeil Economic Daily, South Korean tax authorities have decided to classify perpetual contracts linked to U.S. stocks traded on overseas cryptocurrency exchanges as foreign stock derivatives. Starting in 2027, a 11% capital gains tax will be applied to related investment returns, which is half the 22% rate for direct U.S. stock investments.

The new regulation covers perpetual contracts linked to U.S. stocks such as Nvidia, Apple, and Tesla offered by overseas exchanges like Binance. Investors will receive an annual basic exemption of 2.5 million KRW, with amounts exceeding this threshold taxed at 11%. Investors must self-report trading profits.

Hong Kong Monetary Authority: EnsembleTX Supports 24/7 Trading, Planned Inclusion in Stablecoin Pilot

In a statement, the Hong Kong Monetary Authority announced that the tokenized project EnsembleTX has entered a new phase, supporting real-value transactions 24 hours a day, seven days a week.

The authority noted that recognized traders have completed secondary market pilot trades of tokenized Foreign Exchange Fund Notes. It will soon incorporate regulated stablecoins into the pilot. The agency stated that 24/7 trading can assist banks and clients in global fund allocation, tokenized portfolio management, and liquidity management.

Today's Market Overview

Recommended Reading

Podcast Notes | Bill Ackman's Latest U.S. Stock Moves: Clears Out Google, Rebuys Netflix — Why You Don't Need to Worry About an AI Compute Bubble?

https://www.techflowpost.com/article/35035

This article outlines Wall Street investor Bill Ackman's latest investment strategy, centered on the idea that AI compute demand is not a bubble. The real risks lie in high leverage and energy bottlenecks within infrastructure construction. Ackman believes humanity is rapidly approaching superintelligence, giving compute demand long-term growth potential, but some new cloud service providers rely too heavily on debt financing, creating risks from cash flow mismatches. On specific position changes, Pershing Square has cleared out Alphabet, viewing limited upside after its recent rally, while re-entering Netflix on bets regarding its mature ad business, strong cash flow, and streaming advantages. Additionally, Ackman is attempting to transform real estate developer Howard Hughes into a modern-day Berkshire Hathaway by acquiring insurer Vantage to secure low-cost float, then allocating it into Treasury bonds, high-quality equities, and tangible assets. Ultimately, his investment philosophy boils down to: identifying predictable, high-quality assets, driving compounding with low-cost long-term capital, rather than chasing short-term market trends.

ZachXBT: EU Institution Suspected of Having Over $106 Million Stolen, Hackers Using ETH and Monero to Move Funds

https://www.techflowpost.com/article/35044

A rare multi-million dollar heist once again highlights dark currents in on-chain security. On November 2, renowned on-chain investigator ZachXBT issued a community emergency alert, disclosing that a specific EU institutional entity allegedly suffered a devastating blow on November 1, with over $106 million in crypto assets anomalously withdrawn from its accounts across multiple centralized exchanges. After completing the initial transfer, the attacker demonstrated exceptionally rapid and sophisticated on-chain laundering techniques over the past 24 hours. A massive volume of stablecoins was swiftly converted into Ethereum, then routed through instant censorship-resistant swaps, cross-chain liquidity routers, and privacy coin Monero for multi-layered jumping and obfuscation, attempting to completely sever the funds' traceability. Crucially, based on multidimensional behavioral profiling of money laundering, ZachXBT is highly confident this incident was not orchestrated by the notorious North Korean hacking group. This colossal robbery spanning centralized exchange internal controls and decentralized multi-chain labyrinths has not only triggered red alerts for institutional-grade digital asset custody defenses but also reveals the rapid evolution of new multinational professional cybercrime networks.

From a PDF to $6.3 Billion: How North Korean Hackers Conquered the Crypto World?

https://www.techflowpost.com/article/35034

This article systematically details how the North Korean hacking group Lazarus turned the crypto industry into a major funding source over the past decade. According to TechFlow statistics, between 2017 and 2026, hackers linked to Lazarus and North Korea were involved in 37 crypto theft cases, accumulating approximately $11.817 billion in losses. The article analyzes several typical cases: the $620 million Ronin Bridge hack in 2022, the $1.5 billion Bybit cold wallet theft in 2025, and the 2026 Binance hot wallet attack resulting in losses exceeding $6.26 billion. Their core methodology does not solely rely on breaking smart contracts; instead, they control internal personnel and signing permissions through fake recruitment campaigns, malicious PDFs, forged employee identities, and supply chain penetration. More alarmingly, North Korean IT workers infiltrate crypto companies under pseudonyms; CrowdStrike data shows these individuals compromised over 320 enterprises within a 12-month period. Today, AI is further leveraged for phishing, identity spoofing, and malware development, drastically reducing attack costs. The crypto industry now faces not merely code vulnerabilities, but systemic security threats born from the convergence of state-level cyber warfare, social engineering, and AI-driven automated attacks.

Day 1 After Binance's Largest Hack in History: $3.6 Billion On-Chain Outflow, $600 Million Bitcoin ETF Outflow

https://www.techflowpost.com/article/35019

This article reviews the initial capital reactions following Binance's approximate $6.3 billion hack. On November 1, within roughly 10 hours of restoring withdrawals, Binance processed $4.649 billion in withdrawals and $1.01 billion in deposits, resulting in a net outflow of approximately $3.64 billion, equivalent to 2.1% of the platform's total assets. Meanwhile, U.S. spot Bitcoin ETFs recorded a single-day net outflow of $643.2 million, marking October's largest daily record, while Ethereum ETFs saw an outflow of $155.7 million. On the broader market front, BTC briefly dropped around 4%, triggering over $1.3 billion in liquidations, though the overall reaction remained relatively restrained. Binance stated it has covered approximately 95% of the stolen assets, and withdrawal volumes are gradually stabilizing. The article suggests it is premature to declare a systemic crisis of confidence in the market; what truly requires observation is whether subsequent proofs of reserves will reflect the post-mass-withdrawal asset positions, and whether ETF outflows will evolve into sustained capital flight.