Wu said daily selected encryption news - SOFR soared to 4.22% in a day, possibly driven by government shutdown and short-term debt issuance pressure.

1. SOFR surged to 4.22% in a single day, possibly driven by government shutdown and short-term debt issuance pressure.

The U.S. Secured Overnight Financing Rate (SOFR) was raised by 18 basis points to 4.22% on November 3, marking the largest single-day increase in a year. This move may be driven by the risk of a government shutdown, which has led the Treasury to focus on issuing short-term government bonds, thereby increasing market demand for liquidity and causing an upward movement in repurchase market rates, which in turn raises the SOFR level.

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2. Balancer hacker suspected of using AI for coding, on-chain debugging logs reveal traces of the attack.

The balancer hacker left console.log debugging information in the on-chain code, suggesting that the attack code may have been generated with the assistance of AI (written by LLM). He noted that hackers usually do not retain debugging logs in official code, and such mistakes are often copied from LLM-generated templates. The presence of meaningless content like “Done with amts1” in the logs further indicates that the attack code may have clear AI coding traces.

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3. The trading volume of South Korean cryptocurrency exchanges has reached a historic low.

The South Korean stock market index (KOSPI) has reached a historic high, while the trading volume of South Korean cryptocurrency exchanges has hit a historic low. Ki Young Ju agreed with a certain netizen's analysis, which suggests that the current South Korean president is actively promoting the stock market, shifting speculative behavior away from the real estate sector; furthermore, due to facing multiple charges, the sitting South Korean president may be arrested, so he is trying to boost his popularity.

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4. Vitalik calls for the removal of the modexp precompile, stating that it severely hinders the efficiency of ZK-EVM.

Vitalik Buterin posted that modexp (modular exponentiation precompiled contract) is currently the least friendly component for the ZK-EVM prover, with a complexity that can be as high as 50 times the average block. Vitalik suggested a new EIP proposal to replace this precompiled contract with equivalent EVM code, even if it would increase gas costs. He stated that modexp is almost only used for RSA encryption signatures and is rarely needed in practice, and can be replaced by SNARK encapsulation.

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