Odaily reports: a16z, DeFi Education Fund, Paradigm, Uniswap, and several other crypto industry organizations have jointly submitted an amicus curiae brief in support of the legal challenge against Illinois' Digital Asset Tax Act, arguing that the law's scope is overly broad and unfairly targets the digital asset industry. Previously, the Blockchain Association, the Crypto Council for Innovation, and The Digital Chamber had already filed a lawsuit against the state of Illinois over the law. The law imposes a 0.2% tax on digital asset transactions, and its effective date has been postponed from the originally planned January 2027 to July 2027.

Odaily reports that a16z, DeFi Education Fund, Paradigm, Uniswap, and several other crypto industry organizations have jointly submitted an amicus curiae brief in support of the crypto industry's challenge to Illinois' Digital Asset Tax Act. These organizations argue that the act is overly broad in scope and unfairly targets the digital asset industry.

Odaily reports: According to monitoring by on-chain analyst Ai Yi, an a16z-linked entity has deposited a cumulative 148,100 HYPE worth $12.63 million to major exchanges over the past 16 hours, at an average deposit price of $85.26. Since October 30, the entity has transferred a cumulative 233,000 HYPE, valued at over $20.6 million; if sold, it is expected to profit $1.141 million.

Odaily reports: According to on-chain analyst Ai Yi's monitoring, the a16z-linked entity, the largest external entity holding HYPE, has once again deposited 32,862 HYPE to an exchange, having transferred a cumulative $15.02 million worth of HYPE over the past five days. Since July 15, this entity has withdrawn a cumulative 3.75 million HYPE from major exchanges and market makers; excluding deposits and counting withdrawals only, the average withdrawal price was $83.5. If the HYPE deposited over the past five days is sold, the estimated profit would be $1.08 million.

Odaily Report: In the final weeks before the November 3 US midterm elections, crypto industry-related political action committees (PACs) have further ramped up their political spending, with an overall lean toward supporting Republican candidates. The three major crypto industry PACs have spent nearly $170 million combined, with Fairshake and its affiliated organizations spending $154 million and retaining $56 million for the next election cycle.Additionally, the Digital Freedom Fund, primarily backed by the Winklevoss brothers, spent over $8 million this month, focusing on preventing Democratic candidates from winning Senate seats in Ohio, Texas, and Iowa. The Fellowship Fund, which has close ties to Tether, previously spent $3.8 million supporting Republican candidates and subsequently spent $600,000 supporting Democratic candidates, including $300,000 in support of New York Congressman Ritchie Torres.Although the PACs in question all lean toward supporting Republicans, the industry still positions its political spending as bipartisan, aimed at supporting crypto-friendly candidates. Fairshake's major funding supporters include Coinbase, a16z, and Ripple Labs. The crypto industry's nearly $170 million in political spending this cycle has made it one of the most politically active industries in the current US congressional elections. (CoinDesk——

1. Bitcoin Whitepaper Marks 18th Anniversary: Wall Street Embraces Crypto Assets, Decentralization's Original Vision Faces Test;2. Flap Website Suffers DNS Hijacking, Team Warns Against Visiting or Connecting Wallets;3. Kintsu Confirms DNS Hijacking, Urges Users to Revoke Authorizations and Transfer Assets;4. Blockaid Alert Shows StepDrainer Attacks Continue to Expand, Warns Users to Connect Wallets with Caution;5. Upbit Discloses Dunamu&Partners Holdings: Approximately 2,081 BTC Held, Cumulative Sell Volume at Zero;6. Vitalik Discusses Digital Minimalism: In the AI Era, We Should Reduce Reliance on Social Media and the Internet;7. Morgan Stanley "Buys the Dip" with Over $100 Million Purchase of 1,302 Bitcoin;8. a16z-Linked Entity Suspected of Dumping 118,000 HYPE Tokens, Worth Approximately $10.7 Million.

Odaily — According to on-chain analyst Ai Yi, an a16z-linked entity (0xb5E...F...) has been suspected of selling off $10.7 million worth of HYPE since yesterday. Following the disclosure of the Binance hack news, the entity transferred 118,000 HYPE in batches to Wintermute, Galaxy Digital, and Cumberland at an average price of $90.72, with the purpose unknown. The most recent transfer occurred 10 hours ago.

Odaily reports: Uniswap Labs, a16z, and the DeFi Education Fund have submitted comments on Illinois' draft rules for taxing digital asset transactions, requesting that DeFi protocols, front-end interfaces, and self-custodial withdrawals be excluded from the scope of taxation, that wallet withdrawals and cross-chain bridge operations be excluded from taxes levied on asset value, and that private key record-keeping requirements be eliminated. Previously, the Illinois Department of Revenue released draft rules proposing a 0.2% tax on digital asset transactions, with the comment period running until October 30. The state has agreed to delay the effective date and enforcement of the Digital Asset Tax Act until July 1, 2027.

1. "Stock God" Serenity's October position drawdown was approximately $13.59 million;2. Hong Kong Stock Exchange: launches AI and semiconductor indices;3. US media: SpaceX and Tesla merger may face antitrust review;4. Ethereum officially includes and launches Finch's two AI agent standard proposals;5. Internal investigation and investment fund misuse scandal continues to spread? Polymarket dismisses CMO;6. Alliance partner discusses a16z's shift toward frontier tech investment: AI infrastructure development resembles the crypto industry's past, and this shift may drive crypto talent to build frontier tech;7. Kimi (Moonshot AI) is about to release its latest large model K3.1;8. UBS: recent pullback improves risk-reward, A-shares remain attractive;9. Sources: Bank of Japan expected to continue rapid rate hikes, with focus on December;10. Hong Kong stock tech index closed up 2.05%, physical AI sector strengthened, MiniMax rose nearly 17%.

Odaily: Alliance General Partner Imran recently posted on X, sharing his views on a16z crypto's shift toward frontier technology sectors. He noted that a16z provided early endorsement for the crypto industry when Chris Dixon led Coinbase's investment in 2013; Marc Andreessen's 2014 New York Times op-ed "Why Bitcoin Matters" was a key factor that prompted him to transition into the Bitcoin industry. At the time, very few institutions and funds were willing to publicly support crypto, and a16z and USV were the two that took on brand risk.Imran believes that the current development of AI infrastructure has benefited considerably from Bitcoin mining infrastructure and talent flowing from crypto to AI. Shifting toward frontier tech such as robotics, biology, AI, energy, and compute means that the talent and capabilities accumulated in the crypto industry over the past decade can be used to build the entire frontier tech sector. Citing data centers as an example, he noted that public and government resistance to data centers is growing, much like earlier resistance to crypto—yet today nearly all traditional financial institutions have embraced crypto to some extent.