17-year-old former Kimi researcher Chen Guangyu has reportedly joined the startup led by former Google Chief Scientist Jeff Dean, with the new venture seeking a $50 billion valuation.

According to on-chain analyst Ai Yi’s monitoring, Kimchi (wallet address: Gs5F...GYeX), a prominent Solana trader rumored to have profited over $40 million from the TRUMP token, withdrew 1.35 billion PUMP tokens worth $6.43 million in the past three hours. Today, his eponymous Kimchi token briefly hit a market cap of $40 million, with Kimchi holding 75.32% of the token’s total supply. Pump.fun co-founder a1lon9 confirmed a partnership between the two, noting that Kimchi is helping Pump.fun shape its creative direction.

According to Lookonchain monitoring, three newly created wallets received a total of 1,090 BTC from crypto market maker Wintermute. Calculated based on the price at the time of transfer, the total value is approximately $90.38 million, with an average price of around $82,900 per BTC.

Beating AI Express News: Miracle Plus, the startup accelerator founded by Lu Qi, has responded to US sanctions, stating that the US Treasury Department added some of its entities to the sanctions list without prior communication. The company explicitly denies investing in Shanghai Zhisuan Technology, adding that it is in communication with relevant parties and hopes to have the sanctions lifted as soon as possible. The US State Department said on October 19 that former Google engineer Ding Linwei brought Shanghai Zhisuan Technology to participate in Miracle Plus’s startup camp, with the accelerator providing seed funding and obtaining equity in the firm. More specific details come from US court records. On August 20 this year, a ruling from the US District Court for the Central District of California cited trial testimony noting that Ding Linwei joined Miracle Plus’s startup camp in August 2023, received 5 million RMB in funding from its investment arm, corresponding to a 7% equity stake in Zhisuan Technology. The 2024 indictment further records that Ding Linwei signed the relevant equity agreement in November of that year.

Per TradingBeats monitoring, the SPCX perpetual contract on Hyperliquid is trading at $161.72, up 7.23% from around $150.81 at the start of today’s 04:30 earnings call. Its 24-hour trading volume stands at roughly $277 million, with open interest nominal value around $151 million. As prices rebound, the unrealized profit of the largest SPCX long position on-chain has expanded further. The address currently holds approximately 100,100 long contracts, with a position value of around $16.19 million, an average entry price of $135.602, unrealized profit of about $2.6146 million, and a return rate of roughly 192.6%. Calculations show this round of price increase alone has added around $1.0922 million to its unrealized profit. (0x519c) On the news front, SpaceX’s third-quarter revenue and earnings performance significantly exceeded analyst expectations. The aerospace firm projects its first-quarter 2027 revenue will reach $33 billion to $37 billion, far higher than analysts’ prior estimate of around $22 billion. Musk expects the company’s annual recurring revenue (ARR) run rate to rise from roughly $100 billion at the end of 2026 to $500 billion to $1 trillion by the end of 2027. Musk also noted that the payback period for AI infrastructure investments is expected to be shortened to within one year, with some investments potentially recouped in as little as six months. Additionally, Musk confirmed SpaceX and Tesla have each established special independent director committees to formally discuss a potential merger.

On-chain analyst Ai Yi monitored that Kimchi (Gs5F...GYeX), a well-known Solana trader rumored to have profited over $40 million from TRUMP-related trades, withdrew 1.35 billion PUMP tokens worth $6.43 million in the past three hours. Today, Kimchi’s namesake token briefly hit a market cap of $40 million; Kimchi holds 75.32% of the token’s total supply. Pump.fun co-founder a1lon9 confirmed a partnership between the two, noting that Kimchi is helping Pump.fun define its creative direction.

SpaceX (SPCX.O) and Tesla (TSLA.O) have formed a special committee to explore a potential merger deal. Elon Musk stated, "I think this would be a good idea." However, the merger is not finalized and requires the support of half of Tesla's total shareholders. SpaceX's latest financial report shows its third-quarter revenue exceeded expectations, with its share price surging 8.06% in after-hours trading. Tesla's after-hours share price rose 1.76%. According to Coinglass data, SPCX saw $4.26 million in network-wide liquidations over the past 12 hours, including $900,000 in long positions and $3.36 million in short positions. TSLA recorded $454,000 in network-wide liquidations in the same period, with $1,147 in long positions and $452,900 in short positions. Network-wide open interest for SPCX contracts stands at 6.4709 million units, valued at approximately $1.049 billion, up 6.33% in 24 hours. For TSLA contracts, network-wide open interest is 510,900 units, worth around $195 million, down 2.81% in 24 hours. The 24-hour trading volume for SPCX contracts across the network is $3.146 billion, up 129.2% year-over-year, while TSLA's 24-hour trading volume is $479 million, down 1.69% year-over-year.