Bitunix Analyst: SRM Plans to Rebrand as Tron Inc and Launch TRX Reserve Strategy, Short-term Bullish Sentiment on TRX Rising

Bitdeer AI has secured a 67MW data center campus in Malaysia, intended to support NVIDIA GB300 systems. With this expansion, Bitdeer AI’s secured AI cloud capacity has risen to 273.5MW, and its pipeline of reserved AI cloud projects is estimated to exceed $10 billion.

Ripple co-founder Chris Larsen has donated at least $22.5 million to U.S. federal candidates and super PACs in this election cycle, and plans to expand his political spending further. According to Bloomberg, Larsen has a personal net worth of roughly $13.3 billion, with his focus this cycle on issues including cryptocurrency, artificial intelligence (AI), clean energy, and billionaire taxes. Larsen previously opposed crypto industry political group Fairshake’s plan to spend $30 million to target Ohio Democratic Senate candidate Sherrod Brown, and subsequently donated $4 million to Brown personally. While his firm Ripple has contributed $48 million to Fairshake in this cycle, bringing total donations to $93 million, Larsen and Ripple CEO Brad Garlinghouse are reassessing future funding. In the AI space, Larsen has donated over $4.5 million to a super PAC that counters pro-AI groups, and has voiced support for setting strict safety guardrails for AI development. In the clean energy sector, a super PAC he backs has spent around $10 million to help defeat multiple Republican candidates who oppose renewable energy in primary elections. Additionally, Larsen has spent at least $12 million to oppose California’s proposed billionaire wealth tax.

Morgan Stanley has dubbed the U.S. advanced manufacturing revival "Tera'Merica," noting its opportunities extend beyond chip reshoring to include rockets, satellites, industrial robots, humanoid robots, autonomous vehicles, and drones, with SpaceX’s aerospace, satellite communications, and AI infrastructure businesses poised to benefit. On the AI compute front, Morgan Stanley projects SpaceX’s AI compute capacity will reach approximately 4.9 GW by the end of fiscal 2027, with the company targeting nearly 10 GW. According to its calculations, each additional 1 GW of nominal compute capacity—assuming $50 per watt in investment, a 70% incremental margin, and a 10x EBITDA valuation—could add roughly $27 to SpaceX’s share value. Based on this assessment, Morgan Stanley maintains an "Overweight" rating on SpaceX, with a $300 price target. The firm is also bullish on the commercialization potential of enterprise AI, though it points out the market remains relatively cautious in valuing related businesses, assigning a 50% discount to enterprise AI valuations. Key risks include the progress of Starship and Starlink, compute capacity buildout costs, and the pace of enterprise AI commercialization.

AguilaTrades(@AguilaTrades) returned to trading after more than 6 months of inactivity, only to get liquidated and lose $545K in just one day. Poor guy!

Cryptocurrency exchange Kraken is investigating an anomaly in its margin data display. Some users of its web platform and mobile app may be seeing inaccurate margin figures, and there is currently no additional information available on the scope of impact, the root cause of the issue, or repair progress.

According to CNBC, crypto asset platform Blockchain.com has submitted two license applications to the U.S. Commodity Futures Trading Commission (CFTC), with plans to offer event contracts and cryptocurrency derivatives trading services to U.S. retail and institutional clients. Specifically, Blockchain.com is applying to become a Designated Contract Market (DCM) to operate a regulated futures trading platform, while also seeking registration as a Futures Commission Merchant (FCM) to provide derivatives brokerage services. Co-founder and CEO Peter Smith stated that the company aims to enable users to manage digital assets, trade derivatives, and transact on real-world events all in one platform. Earlier this year, Blockchain.com partnered with Polymarket to offer prediction market services to select users, and provided perpetual contract trading to some international clients via Hyperliquid. This application signals the firm’s push to expand these operations into the U.S. market. CNBC data shows that 12 companies, including Blockchain.com, have applied for CFTC Designated Contract Market licenses so far this year, with regulators approving six new trading platforms in the same period. As crypto trading platforms and prediction markets continue to converge, more firms are seeking entry into the event contract and derivatives markets. Additionally, Blockchain.com is advancing its listing plans. The company confidentially submitted an IPO registration draft to the U.S. Securities and Exchange Commission (SEC) in May this year. Bloomberg previously reported that the firm plans to go public this year, targeting a valuation of $4 billion to $6 billion.