Crypto Morning Brief: Robinhood (HOOD) added to S&P 500; major token unlocks for MOVE, S, APT, and others this week
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Crypto Morning Brief: Robinhood (HOOD) added to S&P 500; major token unlocks for MOVE, S, APT, and others this week
SOL Strategies has been approved to list on Nasdaq on September 9 under the ticker STKE.
Navigating Web3 tides with focused insightsAuthor: TechFlow
Yesterday's Market Dynamics
U.S. Treasury Secretary Bessent: Trump was right to criticize the Fed for moving too slowly
According to Jin10, U.S. Treasury Secretary Bessent said that economic policy will not be changed based on a single data point. Employment data shows that Trump was correct in criticizing the Federal Reserve for acting too slowly; revised job numbers for 2024 may reduce employment by as many as 800,000 positions.
Robinhood (HOOD) unexpectedly added to S&P 500, Strategy (MSTR) left out
Michael Saylor’s Strategy (MSTR) failed to be included in the S&P 500 index on Friday, despite reporting strong quarterly earnings and meeting all criteria for inclusion. As a result, MSTR dropped 3% after hours, erasing intraday gains. Robinhood (HOOD) was unexpectedly added to the S&P 500, pushing its stock up 7% after the close. The change will take effect on September 22.
Bitcoin mining difficulty increases 4.89% to 136.04T, reaching a new record high
According to CloverPool data, Bitcoin mining difficulty adjusted at block height 913,248, increasing by 4.89% to 136.04T, setting a new all-time high.
Kinto announces shutdown scheduled for September 30
According to an official announcement, Kinto will shut down on September 30. Previously, on July 10, the platform suffered a smart contract vulnerability attack where attackers forged 110,000 Kinto tokens and cashed out approximately 577 ETH (about $1.55 million), causing the platform's token to plummet around 95%. Although the team later launched a "Phoenix" restart initiative to resume operations, additional debt made fundraising unsustainable. Kinto founder Ramón Recuero pledged to compensate bad debt users on Morpho with up to $1,100 per address using personal funds. The platform will return 76% of principal to Phoenix borrowers, with remaining assets also used for compensation. He stated the platform will be wound down in an orderly manner, prioritizing user interests as much as possible.
Linea’s liquidity incentive program to distribute 160 million LINEA tokens next week
According to Linea’s official announcement, next week’s Linea Ignition liquidity incentive program will distribute 160 million LINEA tokens as rewards, increased from the original plan of 150 million.
Aave and Euler lending pools will receive a total reward of 128 million LINEA tokens for USDC, USDT, and ETH. Trading on Etherex (trading pairs include USDC/ETH, WBTC/ETH, USDT/ETH, ETH/REX) will receive a total reward of 32 million LINEA tokens.
SharpLink Gaming plans to stake part of its ETH into Linea mainnet
According to Cointelegraph, SharpLink Gaming (SBET) plans to stake a portion of its $3.6 billion Ethereum treasury onto the Linea network following Linea’s mainnet launch on September 10.
SOL Strategies approved to list on Nasdaq on September 9 under ticker STKE
According to Coindesk, SOL Strategies (HODL) has been approved to list on Nasdaq, trading under the ticker STKE starting September 9, holding over 435,000 SOL tokens, with OTC shares automatically converting.
FutureCrest Acquisition led by Tom Lee files IPO application aiming to raise up to $250 million
According to renaissancecapital, FutureCrest Acquisition, a blank-check company (SPAC) led by BitMine chairman Tom Lee, filed documents with the U.S. SEC on Friday to raise up to $250 million through an initial public offering (IPO). The company plans to raise funds by issuing 25 million units at $10 per unit. Each unit consists of one share of common stock and one-quarter of a warrant exercisable at $11.50 per share.
Tom Lee is widely known in media as bullish on cryptocurrency, and his IPO prospectus highlights his past Bitcoin price predictions. FutureCrest Acquisition stated it will leverage its management team’s expertise and social capital in AI, digital assets, fintech, infrastructure, robotics, and communications when seeking merger targets. Additionally, the company sees opportunities in business intelligence, productivity software, and digital health.
FutureCrest Acquisition plans to list on Nasdaq under the ticker FCRSU. The company submitted a confidential filing on August 5, 2025, with Cantor Fitzgerald serving as the sole underwriter for the deal.
Tether plans ~$100 million follow-on investment in Elemental Altus
According to the UK Financial Times, Tether plans a follow-on investment in gold royalty company Elemental Altus, expected to amount to approximately $100 million, increasing its ownership stake to about 37.8%, with the transaction likely to complete in Q4 this year. Tether has also held talks with Terranova Resources, a gold mining investment vehicle based in the British Virgin Islands, but no deal was reached. Tether acquired nearly 32% of Elemental Altus in June this year, aiming to integrate long-term stable assets such as gold and Bitcoin into its ecosystem. According to the latest data from CoinGecko, the market cap of XAUT, Tether’s gold-backed cryptocurrency, has surpassed $1.35 billion, reaching $1,351,783,809, a new record high, with a circulating supply of 375,572 tokens and a 24-hour trading volume of $181,857,137.
Prior reports indicate Tether is negotiating investments in gold mining and currently holds $8.7 billion worth of gold reserves.
Michael Saylor posts Bitcoin tracker message again, possibly signaling another BTC accumulation
Strategy (formerly MicroStrategy) founder Michael Saylor posted on X: “Thinking about the S&P right now…”, responding to Strategy’s exclusion from the S&P 500 index. Earlier news confirmed that although Strategy met all requirements for S&P 500 inclusion, it was ultimately not selected, while Robinhood (HOOD) was unexpectedly added.
This week will see large token unlocks for MOVE, S, APT, and others
According to Token Unlocks data, several tokens will undergo significant unlocks this week:
Sonic (S) will unlock approximately 150 million tokens at 8:00 AM Beijing time on September 9, representing 5.02% of current circulating supply, valued at around $45.68 million;
Movement (MOVE) will unlock approximately 50 million tokens at 8:00 PM Beijing time on September 9, representing 1.89% of current circulating supply, valued at around $5.94 million;
BounceBit (BB) will unlock approximately 42.89 million tokens at 8:00 AM Beijing time on September 10, representing 6.31% of current circulating supply, valued at around $6.4 million;
Aptos (APT) will unlock approximately 11.31 million tokens at 6:00 PM Beijing time on September 11, representing 2.20% of current circulating supply, valued at around $48.18 million;
io.net (IO) will unlock approximately 13.29 million tokens at 8:00 PM Beijing time on September 11, representing 6.24% of current circulating supply, valued at around $7 million;
peaq (PEAQ) will unlock approximately 84.84 million tokens at 8:00 AM Beijing time on September 12, representing 6.38% of current circulating supply, valued at around $5.6 million.
Market Trends
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