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 Acquires 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 shares from October 26 to November 1 at a total cost of approximately $208.2 million, funded entirely by USD cash.

As of November 1, the company's Digital Credit Securities Repurchase Program still had approximately $748.6 million in remaining capacity. During the same period, Strategy acquired 811 BTC, bringing its total holdings to 849,327 BTC as of November 1.

Brazilian Crypto Exchange Mercado Bitcoin Experiences Security Incident, Suspends Deposit and Withdrawal Services

The Brazilian cryptocurrency exchange Mercado Bitcoin announced on its X platform that a security incident involving internal systems was detected early on November 2, and prompt containment measures have already been implemented.

Mercado Bitcoin emphasized that no customer assets were compromised in this incident, nor did any data breach occur. As a precautionary protective measure, the platform has temporarily suspended deposit and withdrawal operations.

Relevant teams are currently investigating the root cause, tracking involved assets, and coordinating follow-up actions with regulatory authorities. The platform pledged to continue providing updates on the latest developments.

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

According to Yicai, Qianwen Office Token was listed on Li Jiaqi's livestream channel. Reporters found that within 30 minutes of launch, the stream sold 100,000 monthly personal membership cards for Qianwen Office, accumulating approximately 2 trillion tokens.

That evening, Qianwen Office CEO Chen Yusen joined the livestream to share everyday AI office workflows, noting that AI cannot replace Li Jiaqi and expressing a desire to help fans offload mundane tasks using AI—so they can leave work on time, spend quality time with pets, and better care for their families.

ZachXBT: EU Entity Suspected of Losing Over $106 Million in Crypto Assets, Funds Being Multichain Transferred

ZachXBT issued a security warning stating that a certain EU entity is suspected of losing over $106 million in crypto assets from multiple centralized exchange accounts around November 1. The affected funds, held as USDC and USDT, were reportedly withdrawn by alleged attackers.

Over the past 24 hours, related addresses have continuously swapped USDC for ETH and routed funds to instant exchange platforms like WellWallet and Kyrrex. Simultaneously, assets were converted into XMR via Wagyu and bridged across multiple blockchains.

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

According to a company announcement, Marvell Technology has reached a definitive acquisition agreement with optical communications firm Lumentum to acquire it through an all-stock transaction, carrying an implied enterprise value of approximately $115 billion.

Under the agreement, each share of Lumentum stock will be exchanged for 4.5 shares of Marvell stock, valuing to approximately $1,132 per share. This represents a premium of roughly 23.9% over the closing price on October 28, before acquisition speculation impacted valuations. Following completion, original Marvell and Lumentum shareholders will hold approximately 67% and 33% of the combined entity, respectively.

The acquisition will merge Marvell's semiconductor and network interconnect technologies with Lumentum's laser and optical transceiver capabilities. Both companies project the merged entity's addressable market will expand to $550 billion, delivering annual cost synergies exceeding $1 billion. The deal is targeted for closure in the first half of 2028, pending shareholder and regulatory approvals.

Arkham: Binance Hacker Transfers Approximately $4 Million to Binance Deposit Addresses

According to Arkham's on-chain monitoring, addresses linked to the Binance hack have cumulatively deposited approximately $4 million across three distinct Binance deposit addresses.

Arkham suggests these addresses likely belong to nested services, specifically third-party exchanges leveraging Binance for liquidity provision and custody solutions.

Coinbase CEO: Company Treasury Now Holds 18,000 Bitcoin

Coinbase Chief Executive Officer Brian Armstrong disclosed that the company recently added its 18,000th bitcoin to its corporate treasury holdings.

South Korea to Levy 11% Capital Gains Tax on US Stock Perpetual Contract Returns Starting in 2027

According to South Korea's Maeil Business Newspaper, Korean tax authorities have decided to classify perpetual contracts linked to US stocks traded on overseas crypto exchanges as overseas equity derivatives. Starting in 2027, a 11% capital gains tax will apply to investment returns from these instruments, half the 22% rate applied to direct US equity investments.

The regulation covers perpetual contracts tied to US tech giants like Nvidia, Apple, and Tesla offered by overseas platforms including Binance. Investors will benefit from an annual basic tax-free allowance of 2.5 million won, with excess returns taxed at 11%. Taxpayers are required to self-report trading gains.

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

Per a Hong Kong Monetary Authority (HKMA) announcement, the tokenization initiative EnsembleTX has advanced to a new phase, enabling real-value transactions seven days a week, 24 hours a day.

The HKMA acknowledged that authorized dealers have successfully completed pilot secondary-market trading for tokenized HKSFRB notes. Regulated stablecoins will soon be integrated into the trial framework. The authority noted that continuous trading capability enables banks and clients to optimize global capital allocation, manage tokenized portfolios, and streamline treasury operations.

Today's Market Snapshot

Recommended Reading

Podcast Notes | Bill Ackman's Latest US Equity Trades: Exiting Google to Rebuy Netflix, Why the AI Compute Bubble Isn't Your Concern

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

This article distills Wall Street investor Bill Ackman's latest investment thesis, centered on the core premise that AI compute demand is fundamentally non-cyclical rather than a bubble. The genuine risks reside in excessive leverage and energy constraints driving infrastructure build-outs. Ackman posits that humanity is rapidly approaching artificial superintelligence, guaranteeing sustained long-term compute expansion. However, several newer cloud infrastructure providers are overly reliant on debt financing, exposing them to severe cash flow mismatch risks. On active positioning, Pershing Square has fully unwound its Alphabet stake, judging future upside limited after recent multiple expansion, while simultaneously reopening a Netflix position predicated on advertising monetization maturity, robust free cash flow, and streaming market dominance. Furthermore, Ackman is actively working to transform real estate developer Howard Hughes Corp. into a modern Berkshire Hathaway archetype by acquiring insurer Vantage Group to secure cheap insurance float, subsequently deploying it into Treasuries, blue-chip equities, and hard assets. Ultimately, his investment philosophy converges on securing predictable, high-quality businesses and fueling compounding with low-cost long-term capital, deliberately avoiding speculative retail momentum plays.

ZachXBT: EU Institution Suspected of Losing Over $106 Million, Hackers Routing Funds via ETH and Monero

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

A deep-water tremor in on-chain security has once again spawned an exceptionally large-scale vault breach. On November 2, prominent on-chain investigator ZachXBT circulated an emergency community bulletin detailing a catastrophic compromise allegedly suffered by a specific EU institutional entity around November 1, where over $106 million in crypto collateral was improperly drained from multiple centralized exchange wallets. Immediately following the initial capital extraction, perpetrators demonstrated highly aggressive and polished on-chain laundering methodologies throughout the subsequent 24-hour window. Massive stablecoin positions were rapidly converted to Ethereum, then cascaded through instant permissionless swap aggregators, cross-chain liquidity bridges, and privacy-centric coins like Monero to execute multi-layered hop obfuscation, aiming to permanently sever fund provenance. Critically, applying multi-variable behavioral forensic analysis, ZachXBT maintains high confidence that this operation diverges from the established playbooks of the infamous North Korean state-linked hacking syndicates. This colossal heist bridging centralized custody vulnerabilities with decentralized multichain maze navigation doesn't just trigger another critical escalation alert for enterprise-grade digital asset safeguards, it starkly illuminates the accelerating evolutionary trajectory of next-generation, professionally structured transnational cybercrime ecosystems.

From a Single PDF to $6.3 Billion: How North Korean Hackers Systematically Compromised the Crypto Ecosystem

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

This report comprehensively traces how the North Korean hacking collective Lazarus has systematically transformed the digital asset sector into a primary sovereign funding pipeline over the last decade. According to TechFlow's compiled data, between 2017 and 2026, operatives affiliated with Lazarus and Pyongyang were responsible for 37 distinct crypto vault breaches, aggregating roughly $11.817 billion in illicit proceeds. Case studies highlighted include the $620 million Ronin Bridge exploit in 2022, the $1.5 billion Bybit cold storage drainage in 2025, and the 2026 Binance hot wallet compromise resulting in losses surpassing $6.26 billion. Their primary offensive vector rarely targets smart contract logic directly; instead, operators infiltrate through fictitious hiring funnels, weaponized PDF payloads, cloned employee credentials, and software supply chain poisoning to hijack internal operational access and cryptographic signing authority. Even more concerning is the deployment of North Korean IT contractors who assume falsified identities to embed themselves inside crypto operating firms. CrowdStrike telemetry reveals these impersonators successfully breached over 320 corporate environments within a single rolling year. Today, generative AI is weaponized to automate spear-phishing, clone biometric identifiers, and craft evasive malware payloads, dramatically compressing operational attack costs. The digital currency ecosystem now confronts not mere code-level exploits, but systemic, multi-vector security degradation driven by the convergence of state-sponsored cyber campaigns, human-centric social engineering, and algorithmic AI automation.

Day One Post-Binance Catastrophe: $3.6 Billion On-Chain Drain, $600 Million Bitcoin ETF Exodus

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

This dispatch reconstructs the immediate capital flight dynamics following Binance's historic $6.3 billion compromise. On November 1, within an approximate 10-hour window of reactivating user withdrawals, the exchange processed $4.649 billion in outbound redemption requests against $1.01 billion in inbound deposits, yielding a net capital drain of roughly $3.64 billion—representing about 2.1% of the platform's reported total balance sheet. Simultaneously, US-listed spot Bitcoin ETFs recorded a singular daily net outflow of $643.2 million, establishing a fresh October benchmark, while Ethereum-equivalent ETFs shed $155.7 million. In broader derivatives and spot markets, BTC momentarily dipped nearly 4%, wiping out over $1.3 billion in leveraged open interest across various venues, yet broader market sentiment exhibited notably restrained panic selling. Exchange management confirmed it has already fully backstopped approximately 95% of the misappropriated capital, with redemption throughput progressively normalizing. Editorial analysis concludes that declaring an imminent systemic trust collapse remains premature. Critical surveillance must focus on whether forthcoming proof-of-reserves audits transparently validate solvency post-fractional withdrawal shocks, and whether institutional ETF capital redeployment shifts from temporary tactical rebalancing into a structural, prolonged distribution cycle.