意面就大蒜

Jensen Huang was sent to the U.S. at age 9 and scrubbed toilets at a Kentucky boarding school that was like a juvenile detention center; at 30, he sketched out NVIDIA in a Denny’s restaurant; of 250,000 chips sold, 249,000 were returned.


He said, "I hope you experience enough pain and hardship."

It took him 33 years to go from a toilet-scrubbing teenager to defining the AI era. Then, in one week, it was all gone. $NVDAB $AAPLB #Anthropic拒绝延期IPO，本周路演估值几何？

Jensen Huang once said the three most important things in his life were meeting his wife, meeting his business partner, and being sent to that boarding school in Kentucky at age 10.


The first two made him the “Godfather of AI”; the third helped him weather 250,000 chips being returned—249,000 of them.

But in the end, he couldn’t weather a letter to his employees.

People can be shaped by hardship, but hardship doesn’t guarantee you won’t make mistakes.
$NVDAB $MSFTB $BTC #Anthropic拒绝延期IPO，本周路演估值几何？

NVIDIA’s most expensive lesson: governance is worth more than gossip

On November 11, The New York Times reported, citing five people who had worked at NVIDIA, that Jensen Huang has a personal relationship with an executive who reports directly to him. The executive is Kimberly Powell, NVIDIA’s vice president of healthcare.

According to the report, the two were seen together at a local hotel during the GTC conference in San Jose this March, where a bystander recorded them on a phone. The outlet reporting the story also acknowledged that its reporter had not seen the video.


When asked about it by phone, Huang replied only, “You shouldn’t be talking to me directly about this,” and hung up. NVIDIA declined to comment, and Powell did not respond.

Put simply, the market has never been focused on gossip—it’s the reporting line that matters.

Powell joined the company in 2008, became a vice president in late 2017, and reports directly to Huang. A relationship outside the workplace is an ethical issue; a relationship between a boss and a subordinate is a governance issue—compensation, promotions, and performance reviews could all be compromised. NVIDIA’s Code of Conduct explicitly requires employees to avoid personal relationships that could create conflicts of interest.

After the news broke, $NVDA plunged more than 8% in after-hours trading.

At 1:20 p.m. Pacific time on November 17, the company’s third-quarter fiscal 2027 results are scheduled to be released. The market’s average expectations are revenue of $109 billion, up 91% year over year.

In a word: for a company valued on the “founder myth,” the myth itself is its greatest risk exposure. $NVDAB $BTC #Anthropic拒绝延期IPO，本周路演估值几何？ #黄仁勋辞任CEO，英伟达战略走向受关注

One of Canada’s largest pension funds has established its first Bitcoin exposure through $MSTR, with an investment of over $150 million.

Pay attention to the route—not buying spot Bitcoin, not buying an ETF, but buying shares in a publicly listed company. For a pension fund bound by strict rules, this is the easiest path: no private keys, no custody, and no need to change a single word of its compliance framework.

The real signal isn’t the amount. Pension money is “the slowest money”—it doesn’t chase the market; it validates the process. Once one fund has paved the way, the “career risk” disappears for other fund managers: if someone else has done it, it’s not a risk for me.


So what’s worth watching isn’t this $150 million—it’s how many new names show up in the next 13F filing.

But don’t ignore the other side: MSCI has decided to remove Strategy from its U.S. indexes, effective November 30. JPMorgan estimates that if other index providers follow suit, it could trigger outflows of up to $8.8 billion.

Institutions are moving in; indexes are moving out.

Slow money follows the narrative; fast money follows the flows. This time, they’re moving in opposite directions.
$BTC $SOL $NVDAB #Anthropic拒绝延期IPO，本周路演估值几何？

When Your Company Holds BTC, SWIFT Isn’t Enough

For international businesses, SWIFT has long been the standard infrastructure for transferring U.S. dollars between banks.

But if you regularly hold BTC or ETH on your books, things get a little more complicated: SWIFT is still part of the process, but it doesn’t cover the starting point or the destination.

The actual route becomes: convert crypto to dollars, send them through the banking system, then make the reverse trip.

That raises five questions:


- Which bank and account actually hold the company’s dollars?
- Which SWIFT route does that bank use, and how many intermediary banks are involved?
- At what stage does the crypto-to-fiat conversion happen—the exchange, an OTC desk, or the custodian?
- On a complete round trip, how much is lost to fees, slippage, and FX losses combined?
- Most importantly: can the money return to the same bank by the same route?

That last question is the critical one. Many businesses can send funds out but can’t get them back—not because the technology fails, but because compliance reviews don’t recognize the route.

The conclusion is simple: SWIFT solves the question of “how money moves,” not “where the money comes from or whether it can return.”

The moment crypto assets enter a company’s balance sheet, the finance team has to manage more than exchange rates: it has to manage an entire pathway from on-chain to off-chain.
$NVDAB $BTC $ETH #CoreWeave营收增长168%股价涨10% #Anthropic拒绝延期IPO，本周路演估值几何？

Four trillion, gone in a day

On November 12, Nvidia announced that Jensen Huang had resigned as president, CEO, and director, effective immediately. CFO Colette Kress was appointed interim CEO while continuing as CFO, and Harvey Jones was named the company’s first-ever board chair.


The market voted with its feet: shares plunged more than 14% at one point during the day, hitting a low of $148.80. More than $600 billion was wiped off its market value, which fell below $4 trillion for the first time since July 2025. Nvidia dropped to third place among U.S. stocks, down nearly 40% from its October 6 record high of $243.37.

The trigger wasn’t the “personal conduct” itself. On November 8, he publicly apologized and admitted to an extramarital affair, prompting the board to launch an independent investigation. The real line-crossing was The New York Times’ revelation that he was involved with a direct report, Kimberly Powell, vice president of healthcare. What began as a personal matter became a governance issue.

There’s only one real bombshell: in 33 years, the company has never announced a succession plan, and around 60 executives report directly to him.

But don’t rush to declare AI dead. The earnings report is still coming; November 17 will tell the tale. $NVDAB $BTC $ZEC #黄仁勋辞任CEO，英伟达战略走向受关注

One coin a day, for 900 days

As of October 2026, El Salvador holds approximately 7,808 BTC, worth about $638 million.

Critics say it "doesn't live up to its name": the IMF noted that the purchases since June 2025 came from private donations, involved no public funds, and expected no further additions after that. On October 1, 2026, the IMF completed its second and third reviews under the joint program and approved a disbursement of about $138 million after waiving the bitcoin-related provisions.


But the bears have misread the document.

The IMF didn't tell El Salvador to sell—only to stop buying, and it granted an exemption. Of the approximately 619,000 BTC held by governments worldwide, the vast majority were seized. El Salvador is the only sovereign nation actively and continuously buying on-chain. Bhutan is selling; the U.S. reserve is based on an executive order and could be reversed at any time; and the UAE simply entered through ETFs.

By comparison, what El Salvador is doing is simple: putting its commitment into law, publishing its address on-chain, and buying one coin a day—when prices rise and when they fall.

What it has proved is not that "a country can get rich on bitcoin," but that "a sovereign balance sheet can accommodate bitcoin without collapsing." That step is worth far more than the 7,808 coins themselves.
$NVDAB $BTC $ZEC #Anthropic拒绝延期IPO，本周路演估值几何？ #Zcash自9月以来首次跌破1000美元

Don't believe it? Once this stabilizes and trades sideways for a while, it'll head straight for 3,000. We'll wait and see. $DOGE $PEPE

Let me put it bluntly:

In this market, indicators are placebos for retail investors.

When prices rise, they tell you "the trend is confirmed"; when they fall, they tell you "support has been broken."


What a load of nonsense.

You only know the price has moved after it moves.

The big players don't need indicators. What they need is—for you to believe in them.
$ETH $PEPE $牛来 #英伟达Q3财报将至：能否化解市场疑虑？ #Anthropic拒绝延期IPO，本周路演估值几何？

ZEC bounced, but I’m not changing my view

It fell below 1,000 yesterday and bounced back today. That’s an oversold bounce, not a trend reversal.

There’s only one thing to watch: has ETF money come back?

Grayscale’s Zcash ETF (ZCSH) saw $13 million in outflows last week, bringing November’s total outflows to over $15 million. Institutions fueled this privacy narrative, and now they’re the first to pull out.


The technical picture is just as ugly: ZEC has fallen below its 20-day and 50-day moving averages, and the MACD has turned negative. Although the Stochastic RSI is oversold and a short-term bounce is possible, if 994 breaks decisively, the next level to watch is 821.

There’s another risk that’s being overlooked: starting in July 2027, Europe will ban trading and custody of privacy coins. This isn’t about sentiment; it’s about market access.

Same goes for UNI. At just over $6, the deflationary upside has long been priced in. Good news getting priced in often marks the top.

My conclusion hasn’t changed: neither of these is worth holding for the long term.

A bounce isn’t a vindication; it’s a window to sell. If you haven’t bought in, the risk-reward at this level is extremely poor—watch, don’t chase.
$UNI $ARIA $ZEC #CPI高于预期，美股与BTC再度承压 #Anthropic拒绝延期IPO，本周路演估值几何？

Hackers have started laundering money by issuing their own meme coins.

The method has four steps: launch a new coin → create a liquidity pool with NEAR → Wallet Group A buys in with stolen NEAR → Wallet Group B sells in the same pool, pulling out clean assets. With the pool in between, there are no direct peer-to-peer transfers visible on-chain, and the recipient address looks like a retail trader who simply made money buying low and selling high.

From November 5 to 7, six coins were launched on the NEAR chain: FUK, OLCCL, MEILI, MMLI, DABI, and SINU. Their profile pictures featured bow-tied monkeys, flag-waving ducks, and an image of Musk captioned “Elon 2028 President.”

Launching a coin costs just 25 NEAR, about $90. Once it’s used, it’s discarded.


Three pieces of hard evidence show these coins existed solely for laundering: almost all trading in the pools was done by insiders, with external buying accounting for less than 1%; the funds used to create each new coin came from the proceeds of the previous coin’s sales, and arrived just 2 to 13 minutes before launch; selling began within three hours, three-quarters of the trading volume was completed that same day, and the amount of NEAR out matched the amount in. From November 8 onward, they all crashed to zero.

$430,000 (117,000 NEAR) is a drop in the bucket compared with $6.4 billion. That’s the scariest part—this was only a test run.

Another roughly 11.8 million NEAR (about $43.7 million) is sitting untouched in the main wallet. And because NEAR is a public blockchain, its native coins can’t be frozen; they can only potentially be intercepted if sent to an exchange.

The slow laundering doesn’t mean they don’t want to sell; they’re waiting for the window with the best liquidity. The broader market is weak right now, and altcoin markets are shallow. $JCT $ARIA $PEPE #CPI高于预期，美股与BTC再度承压 #Anthropic拒绝延期IPO，本周路演估值几何？

After half a month of trading sideways, the next wave will head straight for 3,000. Just wait and see $DOGE $PEPE

PEPE has recently been relatively stronger in the meme sector. It gained about 23% over the past 30 days, while DOGE fell about 23% over the same period. PEPE's 24-hour trading volume was about $680 million, significantly higher than DOGE's roughly 3.2 billion yuan.


This looks more like a “reassessment of attention”: PEPE's advantage comes from its current market momentum, while DOGE's strengths remain its market capitalization, liquidity, and brand recognition.

In the short term, PEPE has already come close to DOGE's narrative status. But whether it can truly replace DOGE depends on whether trading volume in this rally can be sustained, and whether meme-coin capital continues to flow from older coins to newer narratives.$ARIA $AGT $PEPE #CPI高于预期，美股与BTC再度承压

PEPE, taking DOGE’s throne?

If DOGE is the established king of meme coins, PEPE may be emerging as its most formidable challenger.

Over the past 30 days, PEPE has still gained around 20%, while DOGE and SHIB have weakened noticeably. Even more striking, PEPE’s 24-hour trading volume is about $810 million—close to a substantial share of its market cap—with market activity far exceeding that of many similar assets.

This means PEPE is no longer just a small coin “dancing along with the sector.” It is becoming an asset that actively draws in capital and attention.


Of course, DOGE still has a larger market cap, deeper liquidity, and broader brand recognition. But the question is whether DOGE’s advantage is increasingly rooted in its history, while PEPE’s comes from its current market activity.

And that’s where the debate lies: should the king of meme coins be determined by market cap or by market attention?

By traditional standing, DOGE remains ahead; by recent performance and narrative momentum, PEPE is already closing in. Whether it can truly replace DOGE will depend on how long this wave of capital and interest lasts.$PEPE $DOGE $JCT #CPI高于预期，美股与BTC再度承压 #比特币连续五周下跌 #比特币现货ETF连续三日净流出2.01亿美元

Altcoins have gone a full 5 years without seeing a real bull market.

Enduring one cycle after another,
waiting year after year,
and in the end, the market never came—but our hairlines hit all-time highs first.



So here's the question:

How much longer do we have to wait?

Do we keep holding on for dear life, believing a miracle will happen eventually, while locking away both our youth and our capital? Or do we accept reality and turn to the embrace of Bitcoin, which at least still occasionally gives us a little attention?

Over these 5 years, altcoins have worn away so many people's youth and drained so much of their capital.

We once hoped they would make us financially free.
Now we just hope they stop sending our accounts into free fall.

Are altcoins still worth waiting for?$PEPE $INIT #ARİA #Anthropic拒绝延期IPO，本周路演估值几何？ #比特币连续五周下跌

The crypto market is as lively as a group chat today: some are buying the dip, others are copying the homework

If you’ve opened a market app lately and felt like you weren’t looking at the market so much as watching a “crypto emotion roller coaster,” you’re not far off.

As of November 10, the global crypto market cap was about $2.44 trillion, down 2.38% in 24 hours and 5.11% over the past 7 days. The Fear and Greed Index was just 25. The market has officially entered the “others are yelling ‘buy the dip,’ while I’m putting my phone face down on the table” phase.

Bitcoin remains the market’s main character, with its dominance climbing to 60.41%. That suggests money isn’t rushing into altcoins on a large scale; instead, investors seem to be clinging to BTC as a “lifebuoy.” Ethereum’s dominance fell to 10.17%, and altcoins as a whole are still weak. The so-called “altcoin season” currently looks more like a trailer—it hasn’t officially premiered yet.

Still, the buzz hasn’t disappeared; it has simply shifted from the broader market to individual projects. Over the past 24 hours, Initia rose 112.43%, with trading volume reaching $156 million; AriaAI gained 21.3%. On the other hand, AKEDO fell 35.95%, and Hyperliquid dropped 4.12%. This market makes one thing abundantly clear: in crypto, it’s not “everyone gets rich together”—it’s “some are feasting, while others are chipping in for the banquet.”


The derivatives market is restless too. Global open interest is about $344.45 billion, up 5.92% in 24 hours, and funding rates are positive. In plain English, leverage is back, but the market is still falling. That means bulls and bears are locked in a tug-of-war, and a drama of “short squeezes followed by bull traps” could unfold at any moment.

The market remains defensive, with buzz concentrated in a few places but lacking staying power. A genuine reversal signal wouldn’t be a sudden double in some small-cap coin; it would be the total market cap finding a floor, BTC dominance declining, and altcoin trading volumes continuing to pick up. Chasing a rally now could mean buying fireworks; waiting for the trend to confirm at least means you won’t mistake fireworks for a rocket launch.
$INIT $ARIA #AI芯片股重挫纳指周跌3.4% #新人宝典：从零了解TradFi

Today's drop wasn't the market suddenly going haywire; it was several blows landing at once:

🔥 U.S. October CPI rose 0.4% month over month, above the expected 0.3%. Core CPI also came in hotter than expected, raising concerns that the Fed will keep interest rates higher for longer.


💥 Leveraged longs were liquidated all at once, with about $178 million in long positions wiped out within an hour.

💸 Capital is pulling out, too: U.S. spot Bitcoin ETFs have seen consecutive outflows, with BlackRock IBIT recording about $213 million in outflows in a single day.

In short: inflation is proving stickier, rate-cut expectations are cooling, ETF funds are retreating, and leveraged positions are adding further pressure. What's falling now isn't sentiment—it's liquidity.$INIT $JCT #PEPE创历史新高 #Anthropic拒绝延期IPO，本周路演估值几何？ #AI芯片股重挫纳指周跌3.4%