Crypto Morning Brief: Trump pardons Changpeng Zhao, MegaETH unveils tokenomics

Author: TechFlow

Yesterday's Market Dynamics

Trump Pardons Binance Founder Changpeng Zhao

According to The Wall Street Journal, Trump has pardoned Binance founder Changpeng Zhao.

Bipartisan Discussions on Cryptocurrency Legislation in U.S. Congress, DeFi Regulation Takes Center Stage

As disclosed by Eleanor Terrett, Capitol Hill recently held a "crypto lightning round" meeting, with both parties holding separate roundtable discussions with industry leaders. David Sacks, the White House crypto and AI czar, stated that passing market structure legislation is the government’s top priority this year.

During the Democratic session, senators acknowledged that cryptocurrencies offer opportunities for voters unfairly treated under the traditional banking system. However, Senator Gallego of Arizona warned industry leaders not to "become accomplices of the Republicans" due to the leak of a DeFi proposal.

The Republican session focused on how to define and regulate DeFi, suggesting regulatory emphasis should be placed on intermediaries rather than protocols, and recommending bipartisan collaboration with industry representatives to review the bill line by line.

Senator Kennedy likened the legislative process to "the ups and downs of a heroin addict." While both parties expressed willingness to cooperate, next concrete steps remain unclear.

Trump Administration in Talks to Take Stake in Quantum Computing Company

According to The Wall Street Journal, the Trump administration is negotiating to take a stake in a quantum computing company.

aPriori Announces APR Airdrop Claims Now Open

Per official announcement, Monad ecosystem liquid staking protocol aPriori has opened its APR airdrop claims. Users have 21 days to choose between claiming a smaller portion early or waiting for the later unlocking of the majority share upon Monad mainnet launch.

MegaETH Releases Tokenomics Model: Total Supply 10 Billion, Public Sale Accounts for 5%

MegaETH has released details of its token distribution. The total supply is 10 billion MEGA tokens, allocated as follows:

Public sale (Sonar): 5%;

Sonar rewards pool: 2.5%;

Ecosystem reserved tokens totaling 70.3%, including: KPI staking rewards 53.3%, team and advisors 9.5%, foundation/ecosystem reserve 7.5%;

VC allocation: 14.7%;

Echo investors: 5%;

Fluffle investors: 2.5%.

Issuer Superior Performance Limited does not directly retain any publicly sold crypto assets; all 500 million MEGA tokens will be distributed to purchasers.

Bubblemaps: Single Entity Claims $10 Million MET Airdrop, Possibly Largest Airdrop Claim of the Year

According to Bubblemaps monitoring, an entity has claimed a $10 million MET token airdrop.

Specifically, wallet addresses 3vAauD and 2zVx7U claimed MET airdrops worth $7 million and $2 million respectively. On-chain data shows both wallets transferred 530,000 RAY tokens and 1,000 USDC, indicating a link and suggesting possible control by a single entity.

Bubblemaps stated this may be the largest single airdrop claim recorded so far this year.

DeFi Protocol Spark Allocates $100 Million Stablecoin Reserve to Superstate Fund

According to The Block, DeFi lending protocol Spark announced it has allocated $100 million in stablecoin reserves to Superstate’s cryptocurrency arbitrage fund (USCC), marking what is described as the first major on-chain protocol attempt to diversify "away from government securities." This decision comes as U.S. Treasury yields drop to a six-month low.

Sam MacPherson, CEO of Phoenix Labs, said: "Superstate’s USCC fund enables Spark to diversify its reserves while maintaining the safety and compliance Spark has always prioritized."

The Superstate fund generates returns through spot and futures trading of Bitcoin, Ethereum, Solana, and XRP, currently offering an 8.35% 30-day yield—significantly higher than traditional Treasury returns. Previously, Spark primarily earned yields through tokenized Treasury products such as BlackRock’s BUIDL and Franklin Templeton’s FOBXX.

BNB Chain Ecosystem Paid Messaging Platform ReachMe Announces Shutdown

BNB Chain-based paid messaging platform ReachMe has announced it is ceasing operations, with all services permanently shut down.

Previously, CZ used ReachMe to receive private messages at a cost of 1 BNB per message, which was later reduced to 0.8 BNB.

Major Adjustment to CS2 Skin Trade-In System Triggers Over 70% Drop in Some Items

V社 updated the CS2 trade-in system on October 23, adding functionality allowing five red-tier skins to be exchanged for knives or gloves. This caused significant market volatility. According to CAQAQ data, the skin index plummeted from 2800 to 1800 points, dropping 38.11% intraday. Prices of knives and gloves sharply declined—for example, Butterfly Knives fell from nearly 20,000 yuan to around 10,000 yuan, with typical declines of 60% to 70%. Meanwhile, premium red-tier skins surged in price—for instance, "MP9-Stargazer" rose from tens of yuan to over a hundred yuan. Items obtained via trade-ins are tradable but subject to a seven-day cooldown period. Whether the market bubble has burst remains to be seen.

Andreessen Horowitz Plans to Raise $10 Billion to Boost AI Investments

According to the Financial Times, venture capital giant Andreessen Horowitz is raising $10 billion in new funding, with approximately $6 billion earmarked for investments in artificial intelligence startups and increasing stakes in existing portfolio companies. As one of the most active investors in the AI space over the past two years, this move will further strengthen its position in the AI investment landscape.

Goldman Sachs Maintains Forecast for Gold to Reach $4,900 by End of 2026

Goldman Sachs maintains its forecast for gold to reach $4,900 per ounce by the end of 2026. The bank stated that given growing market interest in gold as a strategic portfolio diversification tool, the risk of exceeding the $4,900 target by end-2026 is rising. It believes persistent and structurally driven buying will continue.

Market Movements

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