Crypto Morning Brief: Tesla moves 11,500 Bitcoin, BONK ETP now open to qualified investors
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Crypto Morning Brief: Tesla moves 11,500 Bitcoin, BONK ETP now open to qualified investors
Mint Blockchain has received a strategic investment of 750,000 $OP from the Optimism Foundation.
Navigating Web3 tides with focused insightsAuthor: TechFlow
Market Updates Yesterday
BONK ETP Now Open to Qualified Investors with Minimum Investment of $10,000
According to official announcements, the exchange-traded product (ETP) for Solana-based meme token BONK, the Osprey BONK Trust, has begun accepting investments from initial qualified investors. To qualify, individuals must have an annual income exceeding $200,000 (or $300,000 jointly with a spouse), net assets over $1 million, or be investment professionals (e.g., licensed affiliates of broker-dealers or investment advisors).
Following the completion of the initial fundraising phase, efforts will focus on applying for secondary market (exchange) listing.
Tesla Transfers Approximately 11,500 Bitcoins to Unknown Wallets, Total Value Exceeding $765 Million
Electric vehicle manufacturer Tesla transferred its entire Bitcoin holdings—over 11,500 BTC worth more than $765 million—into multiple unknown wallets on October 15. According to Arkham Intelligence, Tesla executed 26 transactions (including test transfers) to move the funds. Prior to this large-scale transfer, Tesla’s Bitcoin wallet had remained dormant since June 17, 2022.
Blockstream Raises $210 Million in Convertible Note Financing Led by Fulgur Ventures
Bitcoin infrastructure development company Blockstream has announced the successful closing of a $210 million convertible note financing round led by Fulgur Ventures, according to The Block. Adam Back, co-founder and CEO of Blockstream, stated that the funds will accelerate market adoption of its Bitcoin Layer 2 technologies, expand mining operations, and increase Bitcoin reserves.
Blockstream's Layer 2 solutions include the Liquid Network and Core Lightning. Over $1.8 billion in assets—including stablecoins, tokenized bonds, and securities—have been issued on the Liquid Network, with approximately 3,844 BTC (worth about $250 million) locked on-chain. The company aims to position Liquid as the de facto infrastructure for real-world asset tokenization within the Bitcoin ecosystem.
Bitcoin Ecosystem AVS Platform Pell Network Announces $3 Million Pre-Seed Funding Round Led by Halo Capital
Pell Network, a Bitcoin ecosystem AVS platform, has announced the successful completion of a $3 million Pre-Seed funding round. The round was co-led by Halo Capital, Mirana Ventures, and Paper Ventures, with participation from ArkStream Capital, Caliber Venture Builder, Cogitent Ventures, and Contribution Capital.
Pell Network aims to create a decentralized economic security leasing platform for the Bitcoin ecosystem. By building a network that aggregates native BTC staking and LSD restaking services, it enables stakeholders to validate new software modules developed within the Pell Network ecosystem. With funding secured, Pell Network has officially launched its testnet.
SingularityDAO Plans Merger with Cogito Finance and SelfKey to Launch AI-Focused Layer 2 Network
According to CoinDesk, SingularityDAO, Cogito Finance, and SelfKey are planning a merger to form a new entity named Singularity Finance. The project will focus on tokenizing the artificial intelligence (AI) economy and providing AI-powered financial tools.
The new entity, Singularity Finance, will launch a Layer 2 network for tokenizing assets such as GPUs. Following the merger, SelfKey’s existing KEY token will become the new SFI token. SingularityDAO’s SDAO and Cogito’s CGV tokens will be converted into SFI at ratios of 1:80.353 and 1:10.89, respectively—ratios subject to adjustment based on stakeholder discussions.
Polkadot Q3 Financial Report: Treasury Balance at $153 Million, Marketing Spending Drops Significantly
Alice und Bob, a Polkadot community member, published the Q3 2024 treasury operations report on the official governance forum. The report shows a treasury balance of 33.3 million DOT (approximately $153 million), with a surplus of 32.4 million DOT (about $149 million) after accounting for liabilities.
Total treasury spending in Q3 reached $27 million (5.2 million DOT), a significant drop from $58 million (8 million DOT) in Q2.
Market News: Suilend Token Expected to Launch Within 60 Days
Matteo, Sui network ambassador, revealed that the token for decentralized lending platform Suilend is expected to launch within the next 60 days. Suilend is a lending protocol built on the Sui blockchain and previously introduced the Suilend Points system to incentivize early user participation.
Trump Family Crypto Project WLFI Records First-Day Sales of Only $9.15 Million, 610 Million Sold, 19.4 Billion Remaining
The Trump family’s cryptocurrency project, World Liberty Financial (WLFI), began public token sales on October 15. As of 7:25 AM Beijing time on October 16, approximately 610 million WLFI tokens had been sold, leaving 19.4 billion unsold. At a price of $0.015 per token, first-day sales totaled around $9.15 million.
Wintermute: Solana On-Chain Transaction Volume Surpasses Ethereum, 40% Driven by Memecoins
According to Wintermute’s market report, Solana’s on-chain transaction volume grew by 50%, reaching $39 billion—surpassing Ethereum. Specific figures:
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Solana: $51 billion
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Ethereum: $46 billion
Memecoins are increasingly driving Solana’s activity, accounting for 40% of its transaction volume. Pumpdotfun alone contributed 35% of total DEX trading volume on Solana.
Additionally, Solana now dominates token creation: its market share rose from 60% in early September to 86%, with weekly token generation surging from 45,000 to 110,000.
Mint Blockchain Receives Strategic Investment of 750,000 $OP from Optimism Foundation
According to official news, Mint Blockchain has achieved another major milestone. In the latest Cycle 28 of the Optimism Grant program, Mint Blockchain became the only Superchain approved by the OP Grant Committee and successfully secured 750,000 OP tokens in funding (valued at $1.35 million). Recently, Mint also passed the governance process of the Optimism Superchain, becoming the first superchain network to participate in OP ecosystem governance through the Chain Delegation Program.
"Network State" Project Praxis Secures $525 Million to Build Crypto-Friendly City
According to The Block, Praxis, calling itself the world’s first "network state," has announced $525 million in funding to build a high-tech city supporting cryptocurrency, artificial intelligence, energy, and biotechnology. The round includes institutional investors such as Arch Lending, GEM Digital, and Manifold Trading, along with angel investors including Farcaster CEO Dan Romero and Worldcoin co-founder Max Novendstern. Praxis previously received backing from Paradigm, Alameda Research, and Three Arrows Capital.
Market Data
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