Crypto Morning Brief: KITE AI airdrop claims go live; this week ENA, MEME, MOVE and other tokens face large unlocks
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Crypto Morning Brief: KITE AI airdrop claims go live; this week ENA, MEME, MOVE and other tokens face large unlocks
The U.S. Second Circuit Court of Appeals is scheduled to hold a hearing on November 4 regarding the motion for a retrial of SBF.
Navigating Web3 tides with focused insightsAuthor: TechFlow
Yesterday's Market Dynamics
Trump: Next week's tariff case is one of the most important in U.S. history; will not attend related debate
Trump stated that next week's tariff case is one of the most significant in American history. If the president is not allowed to use tariffs, we will face a major disadvantage in competition with all other countries around the world, especially "major nations." Our recent successful negotiations with many other countries have placed us in a favorable position precisely because we had tariffs to negotiate fair and sustainable agreements. Without the swift and flexible use of presidential tariff power, we would be left defenseless—and it could even lead to the destruction of our nation. I will not attend the Supreme Court's tariff debate on Wednesday because I do not want to distract from the importance of this decision. In my view, this will be one of the most crucial decisions ever made by the U.S. Supreme Court. If we win, we will become the wealthiest and safest country in the world. If we lose, our nation could sink to nearly third-world status.
U.S. Treasury Secretary Belton: Fed should cut rates if inflation declines
According to Jin10 News, U.S. Treasury Secretary Belton said the Federal Reserve should lower interest rates if inflation falls. Regarding recession concerns, he noted that we are in a transitional period, and reducing mortgage rates could end the downturn in the real estate market.
The U.S. Second Circuit Court of Appeals schedules hearing on SBF's motion for retrial on November 4
According to CoinDesk, the U.S. Second Circuit Court of Appeals will hear arguments next week on FTX founder SBF’s motion for a retrial. He was previously convicted on seven counts of conspiracy and fraud and sentenced to 25 years in prison—just two years and two days after the jury unanimously found him guilty. The November 4 hearing will give both the U.S. Attorney’s Office for the Southern District of New York (now led by former SEC Chair Jay Clayton) and SBF’s new legal team (led by seasoned white-collar crime appellate lawyer Alexandra Shapiro) ten minutes each to present their arguments. Judges may ask questions during the hearing to clarify details, though the proceeding will not re-litigate the charges themselves but rather examine whether the original trial was conducted properly.
Cathie Wood's ARKK discloses top 15 holdings, including Coinbase, Circle, and other crypto-related firms
Cathie Wood's ARKK ETF has disclosed its top 15 holdings, which include several cryptocurrency-related companies: Tesla (12.3% weight), Coinbase (5.8%), ROKU (5.59%), Crispr (5.01%), Tempus AI (5.01%), Shopify (4.91%), Robinhood (4.69%), Palantir (4.48%), AMD (4.4%), Roblox (4.15%), Teradyne (2.68%), Circle (2.55%), BitMine (2.46%), Archer Aviation (2.3%), and Beam Therapeutics (2.24%).
KITE: Airdrop checker live; claim opens on November 3
As announced by the KITE Foundation on X, the KITE token airdrop checker is now live, with claims opening on November 3 at 12:00 PM UTC.
Prior news: KITE AI released its tokenomics model—total supply of 10 billion tokens, with 48% allocated to the ecosystem and community.
MetaMask: Reward points program and future TGE are separate but linked
According to MetaMask's official post on X, the MetaMask rewards program and the future MetaMask TGE are independent yet interconnected. The former has already launched, aiming to provide users with redeemable real-world value based on their on-chain activity.
The first season of the MetaMask Rewards Program offers over $30 million worth of $LINEA in total rewards. LINEA rewards earned and held during this season will count toward future reward campaigns.
MetaMask emphasized this is a “first-of-its-kind long-term on-chain incentive program” designed to evolve continuously rather than be a one-time event. Meanwhile, the future TGE will also reward early adopters (OGs) who have long supported or returned to the MetaMask ecosystem.
The MetaMask team stated: "We already have tens of millions of users, and every update has far-reaching impact. Our top priority is ensuring users stay safe, benefit, and continue receiving rewards in the on-chain world."
DeFi protocol Folks Finance to launch token FOLKS on November 6
Multichain DeFi protocol Folks Finance tweeted that it will launch its FOLKS token on November 6.
Previous news: DeFi platform Folks Finance completed a $3.2 million Series A funding round led by Borderless Capital.
CZ: Bought ASTER on Binance today
CZ posted on X that he used his own money to buy some ASTER on Binance today. He clarified he is not a trader and intends to hold the asset after purchase.
According to HTX market data, ASTER briefly surged over 20%, currently trading at 1.09 USDT.
CZ: Open to funding an AI Judge Companion project
Binance founder Changpeng Zhao (CZ) shared a "weekend builder idea" on X titled "AI Judge Companion."
CZ said: "Train an AI to master statutory laws and past cases, then let it provide judgment recommendations for every public case. Laws are public documents, and most court records—including precedents, plaintiff and defendant statements, trial transcripts, final judgments, and possibly even social sentiment data in future versions—are publicly available. Unlike human judges, AI won’t be influenced by emotions, hunger (before or after lunch), personal views, or political stances, so theoretically it could make more objective decisions.
I don't believe any country will adopt such a system in the short term, nor am I claiming AI judges are necessarily 'better'—the outcome depends heavily on training quality. But it could serve as a powerful assistant tool for judges, lawyers, and ordinary litigants, and could also be used for market prediction scenarios. The actual workload to build such a system isn’t huge—if someone wants to build it, I’d be happy to invest in a high-quality version."
Coinbase in late-stage talks to acquire stablecoin startup BVNK, deal expected by year-end or early next year
According to Bloomberg, U.S. cryptocurrency exchange Coinbase Global Inc. is in advanced discussions to acquire stablecoin infrastructure startup BVNK for approximately $2 billion, with due diligence currently underway.
Insiders revealed that Coinbase’s venture arm, Coinbase Ventures, had previously invested in BVNK. Coinbase expects to finalize the deal by late this year or early next year.
The sources, who spoke anonymously due to the non-public nature of the transaction, said terms could still change and the deal might ultimately fall through.
This week sees large unlocks for ENA, MEME, MOVE, and other tokens
According to Token Unlocks data, several tokens will undergo major unlock events this week:
Ethena (ENA) will unlock approximately 172 million tokens at 3:00 PM Beijing time on November 5, representing 2.52% of current circulating supply, valued at about $67.1 million;
Memecoin (MEME) will unlock approximately 3.45 billion tokens at 3:30 PM Beijing time on November 3, representing 5.98% of current circulating supply, valued at about $5.4 million;
Movement (MOVE) will unlock 50 million tokens at 8:00 PM Beijing time on November 9, representing 1.82% of current circulating supply, valued at about $3.43 million;
BounceBit (BB) will unlock approximately 29.93 million tokens at 8:00 AM Beijing time on November 9, representing 3.85% of current circulating supply, valued at about $3.3 million;
RedStone (RED) will unlock approximately 5.54 million tokens at midnight Beijing time on November 7, representing 2.40% of current circulating supply, valued at about $1.8 million;
Space and Time (SXT) will unlock approximately 24.64 million tokens at 9:00 PM Beijing time on November 8, representing 1.62% of current circulating supply, valued at about $1.3 million;
Heroes of Mavia (MAVIA) will unlock approximately 11.89 million tokens at 8:00 AM Beijing time on November 6, representing 16.92% of current circulating supply, valued at about $1.2 million.
Market Trends
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