Crypto Morning Report: Shanghai Composite Index returns to 4,000 points, Trump Media under Trump's leadership enters prediction market
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Crypto Morning Report: Shanghai Composite Index returns to 4,000 points, Trump Media under Trump's leadership enters prediction market
Western Union will launch a stablecoin on the Solana blockchain in 2026.
Navigating Web3 tides with focused insightsAuthor: TechFlow
Yesterday's Market Highlights
Shanghai Composite Index surpasses 4,000 points for the first time in ten years
According to Jin10 News, the Shanghai Composite turned positive, breaking above the 4,000-point mark and reaching its highest level in a decade. The Shenzhen Component Index rose 0.2%, while the ChiNext Index gained 0.7%. Over 2,900 stocks advanced across the market, with Fujian-based stocks leading the rally.
U.S. Senate to hold 13th vote on bill to end government shutdown
The U.S. Senate will hold its 13th vote on the "clean" funding bill passed by the House of Representatives, aimed at temporarily restoring government operations at current funding levels. The procedural motion has been rejected 12 times consecutively in the Senate, requiring at least 60 votes—including some Democratic support—to pass. The 13th vote is also expected to fail. Several Senate Democrats have indicated that the shutdown is unlikely to end unless President Trump personally participates in negotiations.
First SOL, LTC, and HBAR spot ETFs begin trading on Wall Street
According to Eleanor Terrett, the first spot ETFs for SOL, LTC, and HBAR have officially begun trading on Wall Street.
Monad opens airdrop amount query
According to the official website, Monad has opened airdrop amount queries.
MegaETH: All participants will receive additional mainnet tokens
MegaETH officially announced that its token sale has been oversubscribed. The team emphasized that all participants in the sale—regardless of allocation size—will be eligible to receive additional token rewards upon mainnet launch.
Binance to launch Pieverse Pre-TGE event on October 29
According to an official announcement, Binance will launch the Pieverse Pre-TGE event. Event period: October 29, 2025, from 4:00 PM to 6:00 PM (UTC+8).
X Layer terminates spokesperson Felix Fan due to conflict-of-interest activities
X Layer officially announced today the immediate termination of its spokesperson Felix Fan. According to the statement, Felix Fan engaged in activities during his tenure that created conflicts of interest with the company, violating his employment contract and the company’s code of ethics.
Effective immediately upon this announcement, any statements or actions by Felix Fan no longer represent the position of X Layer. The company stated it will handle all related matters in accordance with applicable laws and regulations.
Trump Jr. launches exclusive “Executive Branch” members club with $500,000 entry fee
According to CNBC, Donald Trump Jr.'s newly launched private members club, "Executive Branch," recently debuted in Washington, D.C., with a membership fee as high as $500,000 and already has a waiting list.
The club was co-founded by Trump’s eldest son, Omeed Malik and Christopher Buskirk of 1789 Capital, and the sons of real estate magnate Steve Witkoff. Founding members include White House cryptocurrency lead David Sacks, the Winklevoss twins, and tech investor Chamath Palihapitiya.
The club will open next month in Georgetown, charging an additional annual membership fee (amount undisclosed). Membership is strictly vetted, requiring referrals and approval by the founders.
Last Saturday’s launch party attracted several high-ranking government officials, including Secretary of State Marco Rubio and SEC Chairman Paul Atkins, along with multiple CEOs and founders of tech companies.
Analysts suggest "Executive Branch" could play a role in Washington’s political and business circles similar to the Trump International Hotel during Trump’s first term, serving as a gathering place for government officials, congressional leaders, foreign diplomats, and business executives.
Trump Media & Technology Group to launch prediction markets on Truth Social via partnership with Crypto.com
Trump Media & Technology Group (DJT.O): Will launch prediction markets on Truth Social through an exclusive partnership with Crypto.com.
The Wall Street Journal: Western Union to issue stablecoin on Solana in 2026
According to The Wall Street Journal, Western Union will partner with Anchorage to issue a stablecoin on the Solana blockchain in 2026.
Circle launches Arc blockchain testnet, with participation from BlackRock, Visa, and over 100 institutions
According to CoinDesk, Circle (issuer of USDC) announced on Tuesday the deployment of the public testnet for its payment-focused Arc blockchain, attracting over 100 financial institutions and tech companies, including BlackRock, Visa, HSBC, and Anthropic.
The Arc blockchain offers USD-denominated fees, sub-second settlement, and optional privacy controls, aiming to support financial services such as tokenized funds, cross-border payments, and foreign exchange settlements.
Circle stated its long-term goal is to evolve Arc into a decentralized, community-governed system. This move comes as stablecoins (currently valued at $300 billion) increasingly integrate into traditional finance. Citigroup predicts the stablecoin market could reach $4 trillion by 2030, while BCG and Ripple project the tokenized asset market could approach $19 trillion by 2033.
Market Data
Suggested Reading
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Betting on privacy in crypto is betting on freedom
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This article examines the rise of prediction markets in professional sports betting and the regulatory challenges they pose, particularly concerning insider trading. It also analyzes how prediction markets operate, the current regulatory landscape, and the potential of blockchain technology to enhance transparency.
How powerful is the U.S. President’s pardon authority?
This article explores the U.S. President’s pardon power, analyzing its historical origins, usage, limitations, and real-world cases to comprehensively examine the impact and controversies surrounding this authority.
99% don’t understand: the crypto world is actually divided into two types
This article explains that the crypto world is broadly divided into two domains: narrative-driven and utility-driven. The narrative-driven segment attracts attention through compelling visions and stories, such as Bitcoin and AI x crypto; the utility-driven segment focuses on practical applications like wallets, stablecoins, and decentralized finance. These two are not opposing but complementary—narratives drive speculation, and speculation fuels utility. Builders should choose their focus based on strengths and aim for excellence in either narrative or utility.
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