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ef

EF usually refers to the Ethereum Foundation, a non-profit organization dedicated to supporting the development of the Ethereum blockchain and its ecosystem. The foundation provides funding, resources, and support to promote the research, development, and adoption of the Ethereum protocol. It plays a key role in the technological advancement, community building, and global adoption of Ethereum, driving it to become a leading platform for decentralized applications and smart contracts.
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first_img CFTC Chairman: Refrigerators can stake ETH and issue Memecoin

Michael Selig, the Chairman of the U.S. Commodity Futures Trading Commission, stated at the CFTC's inaugural Frontier Forum in Washington that imagining a refrigerator autonomously purchasing groceries with funds from staked ETH, or even issuing its own Memecoin, "is no longer science fiction." He believes that when AI agents can hold assets and execute trades autonomously, regulators must make adjustments.Selig pointed out that the CFTC's regulatory framework is built around executing specific financial functions concerning "identifiable market participants," but autonomous software is raising questions about how these rules apply. He proposed that if AI agents identify trading opportunities and execute trades for users, their developers may need to register, who is responsible when the agent goes out of control, how regulators know for whom the agent is trading, and whether a new type of "Know Your Agent" rule, referred to as KYA, is necessary.Selig also mentioned that AI could provide smaller traders and businesses with risk management capabilities that were previously only available to large institutions, but greater autonomy also brings new risks: agents may react unexpectedly to market conditions, agents using similar models may exhibit correlated trading behaviors, and the speed of autonomous trading could complicate market regulation and risk management. Animoca Brands Chairman Yat Siu recently expressed similar concerns to Cointelegraph; Coinbase launched Agentic Wallets in February, and Binance introduced AI Agent Skills in March, allowing agents to trade within user-defined parameters or provide spot order tools.

first_img Li Liang refutes the claim of "Byte Time," while Qin Shuo states it is a very realistic fact

On the evening of October 27, Li Liang, Vice President of Douyin Group, responded on Weibo to media person and financial observer Qin Shuo's statement about "the Byte Time of China's Internet," calling it "extremely unrigorous and purely nonsense." Li Liang stated that no company can become the "xx time of China's Internet"; instant messaging has a relatively stable moat due to relationship chains, while short dramas and short videos belong to a fully competitive market with rapidly changing dynamics. He also mentioned that Tencent's growth rate in short dramas and short videos far exceeds that of Douyin and Hongguo, and that instant messaging, gaming, e-commerce, and music occupy a significant amount of user time. He later posted that Qin Shuo's analysis contains several fundamental common sense errors.On the 26th, Qin Shuo published an article on his public account "Qin Shuo's Circle of Friends," citing QuestMobile data from a Nomura Securities report, stating that in July 2026, Douyin surpassed WeChat for the first time among the top 50 apps in China by mobile internet usage time, accounting for 19.4%, while WeChat accounted for 18.8%; the share of Byte's apps was 40.9%, and Tencent's was 29.1%. He questioned whether, despite WeChat's daily active users still exceeding Douyin's, China's Internet is shifting from Tencent time to Byte time, and from WeChat time to "Douyin + Hongguo time." This morning, Qin Shuo posted on social media that in the relevant rankings for August 2026, Byte's share was 41.8% and Tencent's was 28.6%, a difference of 13.2 percentage points. He believes that "Byte time" is a summary of Byte's total usage time share exceeding 40%, which is "a very realistic fact," while emphasizing that the share of user time does not equate to the share of user value.On the same day, Hongguo Short Drama, a platform under ByteDance, issued a statement saying that the claims circulating online about "annual revenue approaching 40 billion yuan" and "this year's revenue reaching 42 to 45 billion yuan" are inaccurate, and that the related comparisons, calculations, and extended interpretations lack factual basis. They stated that most of the current revenue continues to be used for content creator revenue sharing, copyright guarantees, and support for high-quality content. Data from third-party institutions shows that as of July 2026, Hongguo Short Drama had 168 million daily active users, a year-on-year increase of 107%. On October 19, Liu Xing, head of public relations at Doubao, responded to the claim that "over half of the domestic computing power is used to create feel-good dramas," stating that the data is unreliable, and that for Byte, only about 10% of the company's total computing power is used for training and inference of video generation models.

first_img Stacks Founder: Quantum concerns have limited Bitcoin's growth, calling for a quantum-resistant upgrade before 2028

Muneeb Ali, co-founder of the Bitcoin Layer2 network Stacks, stated in Cointelegraph's Chain Reaction podcast that concerns surrounding quantum computing are suppressing institutional funds from entering Bitcoin, and the network needs a credible security upgrade roadmap to restore investor confidence. He mentioned, "Quantum concerns have set a ceiling on Bitcoin's growth," believing that this uncertainty may lead risk-averse institutional investors to delay large purchases until developers provide a clear path to quantum resistance. Stacks is a Bitcoin Layer2 network aimed at introducing smart contracts and decentralized applications to Bitcoin, and Ali is a co-founder of the project.Ali warned that if developers fail to make substantial progress in quantum resistance by 2028, Bitcoin could enter a riskier phase. He pointed out that upgrades typically take years to implement, and users will need additional time to migrate their assets to new addresses. Citing guidance from the National Institute of Standards and Technology (NIST), he views 2030 as a target node for transitioning to quantum resistance and believes advancements in artificial intelligence could accelerate the development of quantum computers, potentially moving this timeline up to 2029.Ali acknowledged that some Bitcoin supporters believe the quantum threat is distant and that concerns are exaggerated, but he thinks that the very disagreement over the urgency of the threat, in the absence of a credible upgrade roadmap, will undermine investor confidence. He also stated that sufficiently powerful quantum computers are more likely to emerge from large research laboratories rather than unknown attackers, and companies like Google and Microsoft lack the motivation to steal Bitcoin, but the quantum security threat will impact the entire crypto industry, "If Bitcoin is hit, all downstream projects will be affected." Currently, developers are exploring protective solutions, with StarkWare stating in September that researchers reduced the computational cost of preparing an experimental quantum-resistant Bitcoin transaction by 79% after a week of optimization challenges. This solution does not require modifications to Bitcoin's consensus rules, but the cost reduction has only been validated in benchmark tests.

Apollo Chief Economist: The profit margins of the seven tech giants are rising, while the rest of the S&P companies are stagnant

The chief economist of the American asset management firm Apollo, Torsten Sløk, released five charts, believing that AI has not yet brought significant financial returns to large American companies outside of the tech giants. The per capita revenue and profit margins of the seven tech giants continue to rise; excluding them, the 493 companies in the S&P have seen these two metrics remain basically stagnant, and the data on total factor productivity in the U.S. has not shown significant signs of AI-driven growth.Apollo cited data from the corporate payment platform Ramp, stating that among its clients, the top 10% of companies by spending contributed 99.5% of the model hosting and inference costs. Among the top 1% of companies with the highest AI spending, about 80% have venture capital backgrounds; for companies at the median spending level, this ratio is only 13%. A large amount of AI computing power consumption is concentrated in a few companies, many of which rely on venture capital support.Previous statistics from Apollo indicated that during the second quarter earnings season of 2026, 69% of S&P 500 companies had disclosed that they were actually using AI, but only 2% reported metrics for ongoing tracking of effectiveness. Another NBER study updated in October this year surveyed nearly 9,000 corporate executives from seven countries, with respondents estimating that over the past three years, AI has only improved the annual growth rate of labor productivity in companies by about 0.2 percentage points.
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