Spot gold prices have fallen by over 1%, now reporting at $4046.76 per ounce

The Chief Economist of the Bank of England, Peel, voted in favor of raising interest rates to 4%, citing concerns about inflation continuing to exceed the Bank of England's 2% target. Pierre stated that policy makers should not take the current inflation situation lightly, as the Middle East conflict has led to rising energy prices and the risk of inflation rates increasing. Pierre believes that an inflation rate higher than the target of 1% should still be considered a problem, and expresses concern about the market's acceptance of 3% inflation after it rose to 11%.

Vitalik Buterin published an article titled "Obfuscation: Building the Final Boss of Cryptography (Part I)" to outline the obfuscation protocol (iO) technology tree. Confusion technology converts programs into encrypted programs, allowing for computation of plaintext input while hiding logic. In theory, it enables trustless trusted third parties and can build trustless voting systems and auction protocols. The current iO solution has a huge runtime overhead, expected to exceed the lifespan of the universe.

Citrini Research analyst Jukan stated that improving inference performance is not solely achieved by adding Nvidia GPUs. GPUs are often idle due to memory bottlenecks in inference, and the return on investment for inference depends on memory rather than GPUs. The importance of Micron may surpass Nvidia.

Samsung and SK Hynix are pulling a chip-plant buildout forward by a decade to meet AI memory demand. It is the latest and largest sign of the AI capital cycle that has drawn money away from crypto all year.

According to Darkfost, an analyst at Crypto Quant, as Bitcoin fell below $60000, over 220000 bitcoins flowed into Binance hot wallet related recharge addresses, and over 330000 bitcoins flowed into OKX related recharge addresses, totaling over 550000 bitcoins, setting a record for the largest scale inflow this year and the highest level since the bear market in 2023.