Crypto Morning Brief: Tesla shareholders approve Musk's trillion-dollar compensation plan, MegaETH launches MEGA allocation inquiry page
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Crypto Morning Brief: Tesla shareholders approve Musk's trillion-dollar compensation plan, MegaETH launches MEGA allocation inquiry page
Tether increases holdings by 961 bitcoins, approximately $973 million.
Navigating Web3 tides with focused insightsAuthor: TechFlow
Yesterday's Market Dynamics
Trump: Hopes to Make the U.S. a "Bitcoin Superpower"
According to CoinDesk, Trump said at the American Business Forum in Miami, Florida, that he hopes to make the United States a "Bitcoin superpower."
Trump stated that his administration has signed an executive order ending the federal government's "war" on crypto assets and emphasized that "crypto assets should be part of America's economic strategy." He warned that if the U.S. does not actively embrace the crypto industry, China and other countries will quickly take the lead. Trump also linked Bitcoin to the U.S. dollar, suggesting digital assets could "alleviate pressure on the dollar."
Chicago Fed's Austan Goolsbee: Lacking Reliable Inflation Data, Should Be Cautious on Rate Cuts
According to Jinshi Data, Austan Goolsbee of the Federal Reserve said Thursday that the lack of official inflation data during the government shutdown "further highlights" his cautious stance on further rate cuts. In an interview, Goolsbee said, "My inclination is that when the path ahead is foggy, we should proceed more carefully and slowly." Goolsbee noted that the Fed still has access to various private labor market data, including the Chicago Fed’s newly launched biweekly unemployment rate estimate. The latest data suggests the October unemployment rate may have risen to 4.4%, the highest level in four years. He stated that this estimate and most other labor market indicators show "the job market remains quite stable." "If the labor market begins to deteriorate, we would see signs almost immediately." However, he also mentioned that alternative data sources for inflation are very limited. Before the government paused releasing economic data, statistics showed signs of rising inflation. "If inflation becomes a problem, there won't actually be corresponding observational data to reflect it, which makes me even more cautious about cutting rates prematurely," he said.
MegaETH Announces Launch of MEGA Allocation Query Page
MegaETH posted on social media that the MEGA allocation query page is now live.
GoPlus: Creator of Meme Coin "Binance Life" Actually Only Made $4,000
According to GoPlus, the creator of the BSC-chain meme coin "Binance Life" made only about $4,000 from the project, missing out on the token's peak market capitalization of $500 million.
It is reported that after deploying the "Binance Life" token on October 4, the creator followed their usual "pump-and-dump" strategy, selling off all holdings in two transactions within 20 seconds, earning approximately $4,000. However, just hours later, the token surged dramatically, reaching a market cap of $500 million and daily trading volume as high as $410 million.
Spurred by this, the creator subsequently launched 359 new tokens over the following days—averaging 51 per day—including 292 Chinese-language meme coins such as "Binance Alipay" and "Binance Boulevard," attempting to replicate the success of "Binance Life," but none achieved significant gains.
Google Announces Integration of Polymarket and Kalshi Prediction Market Data into Search Results
According to The Block, Google announced it will integrate prediction market data from Polymarket and Kalshi into its search results, allowing users to look up future events and track changes in market probabilities. Both Polymarket and Kalshi have recently secured substantial funding, with valuations reaching $9 billion and $5 billion respectively.
Robinhood Executive Says Company Has Not Decided to Add Cryptocurrency to Balance Sheet
According to Cointelegraph, Shiv Verma, Vice President of Finance and Strategy at Robinhood, said during Wednesday's third-quarter earnings call that although adding cryptocurrency to the balance sheet might better align the company with the crypto community, they are still weighing the impact on shareholders. Verma stated, "We like being aligned with the community—we’re a major player in crypto—but we need to consider whether this is the best choice for our shareholders."
Tesla Shareholders Approve Musk's $1 Trillion Pay Package, Targeting $8.5 Trillion Market Cap
Tesla shareholders approved CEO Elon Musk's compensation package worth approximately $1 trillion with over 75% support, marking the largest executive pay package in corporate history. The plan sets an ambitious goal for Musk to grow Tesla's market capitalization to $8.5 trillion within the next decade, while increasing his personal stake in the company to 25% or higher. Despite opposition from some investors, including Norges Bank Investment Management, and proxy advisory firms concerned about dilution of other shareholders' equity due to its massive scale, the proposal passed overwhelmingly. Musk must achieve a series of objectives, including growing Tesla's market cap, revitalizing its automotive business, and advancing robotaxi and robotics ventures. If all goals are met, Musk's stake in Tesla could reach a value of about $2.4 trillion, potentially making him the world's first trillionaire.
Tether Adds 961 Bitcoins Worth Approximately $973 Million
According to on-chain analyst Onchain Lens (@OnchainLens), Tether has acquired 961 bitcoins, worth approximately $973 million.
Mastercard Partners with Ripple and Gemini to Explore Blockchain Payment Innovations
According to The Block, Mastercard is collaborating with Ripple and Gemini to explore using the RLUSD stablecoin on the XRPL blockchain to settle fiat-denominated card transactions. This partnership would become one of the first cases where a regulated U.S. bank uses a public blockchain and a regulated stablecoin to settle traditional card transactions.
Gemini has already launched an XRP-based credit card issued through WebBank and plans to participate in the RLUSD settlement program. Additionally, Mastercard recently partnered with Chainlink to allow consumers to directly convert fiat to cryptocurrency on-chain, and reached an agreement with Humanity Protocol to offer users credit and loan services based on open finance technology.
Fomo, Crypto Trading App, Completes $17 Million Series A Funding Led by Benchmark
According to TechCrunch, consumer cryptocurrency trading app Fomo announced completion of a $17 million Series A funding round led by venture capital firm Benchmark, bringing its total funding to $19 million.
Fomo was co-founded by Paul Erlanger and Se Yong Park, who previously worked at cryptocurrency exchange dYdX. The app launched in May this year, aiming to provide users with cross-chain crypto asset trading services, currently supporting trades ranging from major cryptocurrencies like Bitcoin, Ethereum, and Solana to meme coins and altcoins.
Strive Expands SATA Perpetual Preferred Stock IPO to Raise $160 Million for Bitcoin Investment
Strive (Nasdaq: ASST) announced on November 5, 2025, an expansion of its initial public offering of Variable Rate Series A Perpetual Preferred Stock (SATA shares), increasing the number of shares offered from the original plan by 750,000 to 2 million shares, priced at $80 per share, raising approximately $160 million. The offering is expected to close on November 10, with an initial annual dividend rate of 12%. The company plans to primarily use the proceeds for investments in Bitcoin and related products, business expansion, and other corporate purposes. As the first publicly traded Bitcoin asset management company, Strive currently holds approximately 5,958 bitcoins, with its asset management subsidiary overseeing over $2 billion in assets.
Market Movements
Suggested Reading
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Cold Water Splash: Most DAT Companies Are Facing Their End
This article analyzes the current state and challenges facing Digital Asset Reserve Trust (DAT) companies, using Strategy as a case study to explore key elements of successful models. It points out that most DAT companies have failed to replicate Strategy’s capital structure, making them vulnerable during market volatility.
Buying Gold on Chain—Why Do You Always End Up Paying More?
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Ray Dalio's Latest Post: This Time Is Different—The Fed Is Fueling a Bubble
This article analyzes the unique aspects of the Federal Reserve’s current policies, arguing that the Fed is stimulating a bubble rather than responding to a traditional downturn. It details the mechanisms of quantitative easing and their impacts on the economy, asset prices, and inflation, highlighting the risks and potential consequences of the current environment.
Hyperliquid in Its Prime: Why This Crypto "Outlier" Is Growing Against the Trend?
This article tells the story of Hyperliquid, a "maverick" in the crypto industry, which has disrupted traditional financial rules through its unique foundational logic and innovative technology, emerging as a leader among decentralized exchanges. The article details Hyperliquid’s development journey, technological innovations, market performance, and profound impact on the industry.
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