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2026-10-21 · 7 high-impact headlines

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63

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  1. Trader Kimchi withdrew 1.35 billion PUMP tokens worth $6.43 million in the past 3 hours.BlockBeats news, October 21 - According to on-chain analyst Aunt Ai's monitoring, the well-known Solana trader Kimchi (Gs5F...GYeX), who is rumored to have made over $40 million in profits through TRUMP, withdrew 1.35 billion PUMP tokens worth $6.43 million in the past 3 hours. Today, the market cap of the eponymous token Kimchi once reached $40 million; Kimchi himself holds 75.32% of the token's total supply. Pump.fun co-founder a1lon9 confirmed a partnership between the two parties, stating that Kimchi is helping Pump.fun develop its creative direction.
  2. Tesla-SpaceX merger on the agenda, SPCX contract trading volume surges nearly 130% month-over-monthBlockBeats news, October 21: SpaceX (SPCX.O) and Tesla (TSLA.O) have established a special committee to explore a potential merger transaction. Musk stated on this matter, "I think it would be a good idea." However, the merger is not finalized and requires support from half of all Tesla shareholders. SpaceX's latest financial report shows that third-quarter revenue exceeded expectations, and the stock price surged 8.06% after hours. Tesla rose 1.76% after hours. According to Coinglass data, SPCX had $4.26 million in liquidations across the network over the past 12 hours, including $900,000 in long liquidations and $3.36 million in short liquidations; TSLA had $454,000 in liquidations across the network over the past 12 hours, including $1,147 in long liquidations and $452,900 in short liquidations. Total SPCX contract open interest across the network is 6.4709 million coins, approximately $1.049 billion, up 6.33% in 24 hours; total TSLA contract open interest across the network is 510,900 coins, approximately $195 million, down 2.81% in 24 hours. Total SPCX contract 24-hour trading volume across the network is $3.146 billion, up 129.2% year-over-year; total TSLA contract 24-hour trading volume across the network is $479 million, down 1.69% year-over-year.
  3. Binance Margin to Initiate Routine Cleanup of Small Liability AccountsBlockBeats news, October 21 - According to an official announcement, Binance has announced that starting from 08:00 (UTC+8) on October 27, 2026, Binance Margin will initiate routine cleanup targeting cross margin accounts with total outstanding liabilities below $1 (in any currency). This cleanup will be executed daily as a routine operational process. Target accounts: 1. Cross margin accounts with total outstanding liabilities (across all currencies) below the equivalent of $1. 2. Margin accounts with no fund activity in the past 6 months. Fund activity refers to any operation that generates cash flow, including but not limited to: · Fund transactions: transferring funds into or out of the margin account; · Borrowing/Repayment: conducting margin borrowing or repaying margin loans; · Close position / Close all positions / Repay all: quick functions available on the margin trading page.
  4. Zhimin Qian case accomplice returns £5.6 million to UK governmentBlockBeats news, October 21, according to the UK's Daily Mail, an individual who assisted in money laundering for a fraudster involved in a case amounting to £5.5 billion has returned £5.6 million to the UK government. Hok Seng Ling, 48, was ordered by the court to surrender the funds after admitting involvement in the largest money laundering case in UK history. He served as a "butler" for Qian Zhimin, who orchestrated a Ponzi scheme that defrauded over 128,000 Chinese investors between 2014 and 2017, then converted the proceeds into Bitcoin and fled to the UK. Malaysian national Ling, residing in Matlock, Derbyshire, UK, assisted the "Bitcoin Queen" in laundering illicit gains and helped her evade UK police investigation by booking Airbnb accommodations and arranging assistants. In November last year, Ling was sentenced to 4 years and 11 months in prison after pleading guilty to money laundering-related charges at Southwark Crown Court in London. Subsequently, the judge issued a confiscation order requiring him to surrender £5,603,305. Most of the funds came from cryptocurrency seized at the time of his arrest. The amount has now been fully recovered, along with an additional £1,990 in interest.
  5. Bithumb to list PYBOBOBlockBeats news, October 21, according to official announcement, Bithumb will list PYBOBO.
  6. South Korea's KOSPI index surged 4% intraday.BlockBeats news, October 21, according to Bitget market data, South Korea's KOSPI index surged 4.00% intraday, currently at 5,775.10 points. Samsung Electronics rose 6.8%, and SK Hynix rose over 7%.
  7. A trader spent 8 SOL to buy KIMCHI and made a 332x profit in just 2 hours.BlockBeats news, October 21, according to Lookonchain monitoring, a trader earned $282,000 in just 2 hours, with a return rate of 332 times. Two hours ago, they spent 8 SOL (about $848) to buy 9.91 million KIMCHI, then sold 4.88 million KIMCHI for 1,045 SOL (about $111,000). Currently, they still hold 5.03 million KIMCHI, worth about $171,000, with a total profit of $282,000.
  8. SpaceX conference call: Musk says computing capacity is expected to exceed 13 gigawatts next year, with ARR potentially reaching $1 trillion.BlockBeats news, October 21 — SpaceX announced its third-quarter 2026 results. As of September, the company's revenue grew 161% year-over-year to $14.58 billion, exceeding analysts' expectations of approximately $12.8 billion by more than 10%; net profit turned to a gain of $4.4 billion from a loss of $1.1 billion in the same period last year, and adjusted EBITDA rose 306% year-over-year to $8.8 billion. Among this, the superintelligent cloud services business generated quarterly revenue of $7.6 billion, an increase of $5 billion quarter-over-quarter. On the earnings call, management stated that demand for AI compute is currently robust, and the payback period for newly deployed compute has shortened to less than one year. Musk even expects that, as demand and pricing continue to strengthen, the payback period could further shorten to 6 months in the future. Regarding AI compute expansion, Musk stated that by the end of 2026, SpaceX expects to have 2.5 to 3GW of compute in operation, and is confident in adding 10GW of compute in 2027; if less than 13GW of compute is online by the end of 2027, he would be surprised. To avoid power and cooling becoming expansion bottlenecks, the company plans to add an additional 20GW of power supply and cooling infrastructure in 2027, and continue deploying Nvidia GPUs, with expectations to bring online approximately 200,000 GB300 units per month for the remainder of this year, and primarily deploy Vera Rubin computing systems next year. Additionally, the company plans to deploy a training cluster composed of 440,000 Vera Rubin computers by the end of the second quarter of 2027 to support the Grok large model. Musk also expects SpaceX's annual recurring revenue (ARR) to potentially reach $500 billion to $1 trillion by the end of 2027. Grok Bot (an agent assistant) launched in August and, as of early this month, had 800,000 paid weekly active users, doubling from the previous month. B2B is the fastest-growing business category, with an increasing number of enterprises using Grok Bot as a productivity multiplier in sales, marketing, IT, and engineering, viewing it as an around-the-clock team member for handling complex end-to-end workflows. Musk stated that the main constraint on the development of superintelligence has shifted from chips to power, cooling, and supporting infrastructure. SpaceX has assigned some of its top aerospace teams to ground-based compute infrastructure construction, and claims its speed of deploying power and cooling facilities is expected to exceed the combined total of all other vendors. The company expects fourth-quarter capital expenditure to reach $35 billion to $40 billion, and prefers to sign short-term compute leasing contracts at spot market rates to capitalize on the current supply-constrained market environment. Musk stated that hyperscale cloud service providers and dozens of smaller enterprises are all rushing to lease its compute, and some GPUs and other computing resources are difficult to obtain in the market. In terms of aerospace and Starlink operations, Musk stated that the 15th test flight of Starship is scheduled for next month, with the goal of attempting for the first time to recover both the booster and the spacecraft during an orbital mission; the company expects Starship to achieve weekly flights in the first half of next year and increase to two or more flights per week in the second half. Musk also said that a single deployment of V3 Starlink satellites can provide bandwidth equivalent to 10 Falcon 9 launches, and the Starlink network bandwidth is expected to reach approximately 100 times the current level within three years to meet the communication demands brought by the development of AI agents. Starlink's direct-to-cell mobile service has surpassed 22 million monthly active users, aviation terminal production is expected to double by the end of this year, and revenue from enterprise and government businesses is expected to surpass consumer business revenue in the future. In addition, SpaceX plans to manufacture its first functional test chip at its Austin laboratory between May and June 2027, and aims to achieve mass production at the TerraFab main facility in the third quarter of 2028. Regarding the possibility of a merger between SpaceX and Tesla, Musk confirmed that the two companies have established a special committee to discuss the relevant plans, but no agreement has yet been reached on the merger terms. He believes the merger could have significant value, but emphasized that the deal is far from certain, remains uncertain, and must obtain shareholder approval. Musk stated that due to his own conflict of interest, he did not participate in the committee's discussions; according to him, Tesla would need support from 50% of all shareholders, not just a majority of those voting.