S&P Global Ratings revised Meta's credit rating outlook from stable to negative, expecting Meta to rely on debt financing to make up for its free operating cash flow shortfall in 2028. This revision reflects concerns about the cash flow pressures resulting from Meta's continued expansion of its AI infrastructure investments.

Address 0x2685 sold 912,400 HYPE tokens, making a profit of $10 million; address 0x648F sold 296,700 HYPE tokens, making a profit of $16.5 million. (Lookonchain)

Artificial intelligence reasoning company Baseten has launched a new $2 billion funding round, valuing the company at up to $30 billion, with Sands Capital expected to lead the investment. Founded in 2019, Baseten raised $1.5 billion in June at a valuation of $13 billion, while competitor Fireworks AI raised $1.5 billion in July at a valuation of $17.5 billion. Nvidia invested $150 million in Baseten in January. (Source: Bloomberg)

The Supreme People's Procuratorate disclosed that Wang and others defrauded Xiao of 1.2 million yuan under the guise of purchasing U-coins. The procuratorate has filed a public prosecution against Wang and others for fraud. During the trial, the prosecutor pointed out that virtual currency trading is an illegal financial activity explicitly prohibited by the state and does not fall within the scope of the crime of contract fraud. (Source: Supreme People's Procuratorate)

Iole, a company listed on the Tokyo Stock Exchange's Growth Market, will sell all of its 151.21 bitcoins, with the proceeds going towards AI data centers, AI computing power provision, and its Neo Cloud business. The company plans to complete the sale through cryptocurrency exchanges between October 30th and the end of November, expecting a loss of approximately 254 million yen. Iole will continue to hold its Hyperliquid tokens (HYPE) since July 2026. (Source: Coinpost)