Tech & Computing Power: Giants Forge New Infrastructure
Evening developments highlight intensified competition and collaboration among tech giants in AI computing infrastructure. Chipmaker NVIDIA announced a $3 billion equity investment in Meta Platforms, seen as a long-term bet on the infrastructure underpinning the metaverse and AI.
Major Computing Deal Emerges in Asia
More notably, a massive deal originated from Asia. South Korean internet giant NAVER signed a $9 billion computing power service contract with asset manager Brookfield. As part of the deal, NVIDIA will invest $1 billion to join the partnership, positioning itself to become the third-largest shareholder. These moves underscore the accelerating vertical integration—from hardware and capital to services—to meet the immense computational demands of next-generation AI applications.
Regulation & Compliance: Diverging Global Moves
On the regulatory front, actions across jurisdictions presented a contrast. The Central Bank of Ireland fined the Irish entity of a global trading platform €3.25 million, citing deficiencies in client asset protection and outsourcing risk controls. This serves as another reminder that compliant operation remains paramount, even in relatively mature markets.
Hong Kong Warns Against Fake Digital Finance Schemes
In Asia, the Hong Kong Monetary Authority issued an urgent statement alerting the public to fake "Digital Hong Kong Dollar" lending schemes falsely using its name. The HKMA clarified it has no connection to such projects, has reported the matter to police, and urged vigilance against fraud.
Markets & Institutions: Traditional Finance's Crypto Moves
Regarding market operations, a leading global exchange announced it will delist 12 Bitcoin-denominated spot trading pairs on October 30, a move typically aimed at enhancing market liquidity and efficiency.
Meanwhile, traditional financial institutions are deepening their involvement. BNY Mellon revealed that its digital asset custody platform now supports custody for XRP and RLUSD. Furthermore, the bank is collaborating with Ripple to explore tokenized applications in trade finance. This indicates mainstream finance is moving beyond mere asset custody to practical, blockchain-based financial use cases.
Earnings Spotlight: Galaxy Digital Returns to Profit
On the earnings front, digital asset financial services firm Galaxy Digital reported a third-quarter net profit of $323 million, successfully turning around from a loss in the previous quarter and demonstrating resilient adaptability and profitability amid market volatility.