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Brazil already has 16 cryptocurrency ETFs, with BLP, Hashdex and QR Asset as major fund managers
CoinShares: $305 million outflow from digital asset investment products last week
Reuters: Crypto industry executives plan to raise $100,000 for Harris
OKX Singapore subsidiary obtains MAS full payment institution license, former MAS official appointed as CEO
Justin Sun: This week we will focus on reducing Tron network fees
Yonhap News Agency: South Korea will investigate Telegram's negligence in suspected deep fakes
“What important events have occurred in the past 24 hours?”
Founder of Folius Ventures: The crypto industry will undergo a “shuffle” in the next 18 months, and the market will see a significant increase in projects seeking to list currencies or monetize.
Jason Kam, founder of Folius Ventures, said while participating in the "Through Bull and Bear - Tier 1 VCs Revealing the Wisdom Behind Investments" Space hosted by RootData that primary market investment has experienced significant changes in the past few years. Current primary investments are more complex and more speculative than before. The number of projects that need to be listed or have already been listed but need to sell coins has increased tenfold, a hundredfold or even a thousand times compared to previous cycles.
The industry faces challenges of insufficient liquidity and an increasing number of projects. Jason Kam believes that the industry will undergo a reshuffle in the next 18 months, while a wave of good secondary projects may stand out after 24 months.
Brazil already has 16 cryptocurrency ETFs, with BLP, Hashdex and QR Asset as major fund managers
Brazil already has 16 cryptocurrency ETFs, as well as other crypto-related funds. Brazil’s first crypto ETF was approved in 2020, and management company BLP launched a crypto investment fund in Brazil in 2017.
BLP, Hashdex and QR Asset are the main cryptocurrency fund management companies in Brazil. More than half of the 16 cryptocurrency ETFs come from Hashdex (6 funds) and QR Asset (4 funds). Hashdex and QR have a 100% exposure to crypto assets.
CoinShares: $305 million outflow from digital asset investment products last week
According to CoinShares’ latest weekly report, total outflows from digital asset investment products reached $305 million last week. Negative sentiment was mainly focused on Bitcoin, with outflows of $319 million. Bitcoin short investment products saw inflows for the second consecutive week, totaling $4.4 million. Ethereum saw outflows of $5.7 million, while trading volumes stagnated, reaching only 15% of the U.S. ETF launch week levels.
Justin Sun: This week we will focus on reducing Tron network fees
Justin Sun posted on X platform that this week he will focus on reducing the transaction fees of the Tron network. Substantially reducing the transaction fees is the first step to attract more users to Tron, Meme and NFT, and he also expressed his wish for everyone to have a happy transaction on the Tron network.
Reuters: Crypto industry executives plan to raise $100,000 for Harris
Cryptocurrency executives and industry advocacy groups plan to raise $100,000 for U.S. Vice President Kamala Harris in an effort to convince her to take a lenient stance on cryptocurrencies if she wins the presidential election in November, Reuters reported.
The organization plans to hold a fundraiser in Washington on September 13, with tickets priced between $500 and $5,000, the report said.
The report said that although Harris has been relatively silent on her stance on cryptocurrencies compared to Trump, some industry insiders still support Harris rather than her rival Trump.
Yonhap News Agency: South Korea will investigate Telegram's negligence in suspected deep fakes
South Korea will investigate Telegram’s alleged negligence regarding deepfakes, Yonhap News Agency reported.
The first investor of "Black Myth: Wukong" said: I would rather die than invest in Web3 games, those people don't love games at all
Daniel Wu, the first investor of Black Myth: Wukong, recently expressed his opinion on the issue mentioned in an interview with Zhen Fund: "The common "technology + game" trend when new technologies emerge, such as Web3 games, AI games, etc., often find it difficult to achieve success."
Daniel believes that "at any time it is games plus something else", and investors should pay more attention to the team itself, rather than being misled by the direction of new technologies. Daniel said that he has seen many game industry entrepreneurs turn to the Web3 field after the rise of Web3, but he "would never invest" in such projects. He explained: "First of all, he doesn't love games, so how can he make good games?"
As for future game investment opportunities, Daniel believes that we need to wait for the changes brought about by AIGC in 2-3 years.
OKX Singapore subsidiary obtains MAS full payment institution license, former MAS official appointed as CEO
OKX announced that its Singapore subsidiary OKX SG has been granted a Major Payment Institution license by the Monetary Authority of Singapore (MAS). At the same time, OKX appointed former MAS official Gracie Lin as CEO of the Singapore regional branch. According to OKX's press release, the license allows OKX SG to provide digital payment tokens and cross-border remittance services, including cryptocurrency spot trading for Singaporean investors. Lin, who previously worked at MAS, Singapore's sovereign wealth fund GIC, and ride-hailing giant Grab, plans to focus on developing crypto products and services that suit the needs of Singaporean investors. In March this year, OKX received an "in-principle" MPI license from MAS. OKX President Hong Fang said at the time that Singapore is a "priority market" for the digital asset exchange.
Scroll core contributors: The Scroll Foundation account is not an official account.
Scroll core contributor @sandyzkp responded on social media to the Scroll Foundation's official account @ScrollFDN that was circulated online, saying that the account was a fake account.
The official Scroll account subsequently reposted the content and said that users should be careful of fake accounts that have appeared recently and not click on any of their related links.
"What are the interesting articles worth reading in the past 24 hours?"
Behind Orderly Network’s tens of millions of dollars in revenue: Building a “liquidity central kitchen”
The booming development of multi-chain and Layer2 ecology has brought more choices to users and developers, but it has also made the problem of liquidity fragmentation between networks more and more serious. However, whether users, LPs or DEX project parties, they are in urgent need of an efficient solution to mobilize global liquidity on multiple chains.
Orderly Network, a cloud liquidity infrastructure covering the entire chain, is reshaping the cross-chain trading experience of DeFi users with its innovative liquidity sharing concept. By integrating the liquidity of assets across the entire chain, DEX platforms or products with liquidity needs can solve the deep and cross-chain problems caused by liquidity fragmentation in one stop.
Founder Ran Yi has repeatedly emphasized in public that Orderly Network is not a DEX, but a liquidity infrastructure serving DEX-like products. It provides users with a set of plug-and-play liquidity solutions that can easily integrate liquidity, lower the development threshold, and make the DeFi trading experience as efficient and smooth as on the CeFi platform.
On August 16, Orderly Network announced the completion of a US$5 million strategic round of financing, with participating investors including OKX Ventures, Manifold Trading, Nomad Capital, etc.
At only 25 years old, he won $134 million in financing. An article to explain the founder of Story Protocol
Jason Zhao, 25, is a young entrepreneur who grew up in Silicon Hills, USA. He is passionate about starting a business and sharing ideas. He started trying to start a business in high school and founded a campus publication dedicated to combining technology and society during college. Inspired by blockchain research, he quit his job and founded Story Protocol, which received continuous investment from a16z, with a total financing amount of US$110 million. Jason believes that doing what you want to do is the easiest way to achieve success and happiness.
Why do Binance, Bybit, and Bitget all want a piece of the Solana staking market?
Solana's liquidity staking ecosystem is growing, with new big players joining.
On August 29, three centralized exchanges, Binance, Bybit, and Bitget, respectively launched new liquidity staking tokens (LST), which will allow holders to earn returns while ensuring the security of the Solana blockchain and still participate in DeFi activities such as lending.
According to DefiLlama data, the liquidity staking ecosystem on Solana has more than doubled so far this year, from $1.9 billion TVL on January 1 to $4.1 billion, with Jito, Marinade and Sanctum accounting for nearly 77% of the market share.
On the X platform, Sanctum hinted at its role in the launch of BNSOL (Binance) and BBSOL (Bybit), responding to Binance’s announcement by using a handshake emoji and stating that it is “ready to help bbSOL grow bigger and stronger” in light of Bybit’s disclosure.
Since the announcement, Sanctum’s governance token CLOUD has risen more than 40%, jumping from 16.9 cents to 25 cents, according to Coingecko data.
