Today's news tips:
The US government transferred 10,000 Silk Road-related bitcoins to Coinbase Prime last night
Telegram adds paid emoji response function for posts, and Stars earned by channel owners can be converted into TON rewards
Circle plans to launch tap-and-pay payment on iPhone after Apple opens NFC chip development to third-party developers
Goldman Sachs and Morgan Stanley bought more than $600 million of Bitcoin spot ETFs in the second quarter of this year
Offchain Labs has established a new division called "Tandem" and has invested $10 million in the division
Former TON Foundation member established TON Ventures with an initial fund size of US$40 million
Decentralized AI blockchain platform Sahara AI completes $43 million in financing, led by Binance Labs and others
Marathon Digital purchased 4,144 BTC for $249 million. The total amount of BTC on its balance sheet currently exceeds 25,000
Policy and regulatory news
US Vice President Harris to unveil her economic plan this Friday
According to financial reports, US Vice President Harris' campaign team announced on August 13 that Harris will give a speech in Raleigh, North Carolina on Friday to outline her economic policies. A campaign official said Harris' speech will detail how she plans to reduce costs for middle-class families and combat corporate price gouging strategies. US Republican presidential candidate and former President Trump also announced that he will travel to North Carolina on Wednesday and plans to give a speech on the economy in Asheville.
The U.S. July unadjusted CPI annual rate was 2.9%, and the core CPI annual rate was 3.2%
According to Jinshi.com, the annual rate of US unadjusted CPI in July was 2.9%, expected to be 3.00%, and the previous value was 3.00%. The annual rate of US unadjusted core CPI in July was 3.2%, expected to be 3.20%, and the previous value was 3.30%.
The US government transferred 10,000 Silk Road-related bitcoins to Coinbase Prime last night
According to CoinDesk, blockchain data from Arkham Intelligence shows that the U.S. government transferred 10,000 Silk Road-related seized bitcoins to Coinbase Prime on Wednesday (23:38 Beijing time). The crypto wallet that initiated the transfer received about $600 million worth of bitcoins from a wallet marked "U.S. Government: Silk Road Justice Department Confiscated Funds" two weeks ago. Deposits to exchanges usually indicate an intention to sell assets, but in this case, the transfer may be for custody reasons. The U.S. Marshals Service, an agency under the U.S. Department of Justice, announced last month that it had established a partnership with Coinbase Prime to "protect and trade" large digital assets. It is unclear what exactly happens to these tokens after they enter the platform. The U.S. Department of Justice announced in 2022 that it had seized more than 50,000 BTC and arrested James Zhong, who pleaded guilty to wire fraud after accusing him of manipulating the trading system of the dark web market Silk Road in 2012. According to court documents, the government last confirmed the sale of Silk Road assets in March 2023, when 9,861 tokens were sold for $216 million. The government listed in the document a plan to sell the remaining assets in four batches that year, but there has been no follow-up communication about any sales since then. According to Arkham, wallets associated with the US government currently hold $12 billion worth of BTC and small amounts of other seized cryptocurrencies.
Senator Chuck Schumer Promises to Enact Crypto-friendly Laws if Harris Is Elected President
According to Cointelegraph, U.S. Senate Majority Leader and Democratic Senator Chuck Schumer said that if Kamala Harris is elected president, his goal is to pass bipartisan legislation supporting cryptocurrencies by the end of this year. Speaking at the Crypto4Harris Town Hall meeting, Schumer said: "We can't continue to sit idly by, because then we risk sending cryptocurrencies overseas to countries with minimal standards that don't have any regulation at all." Schumer noted the growth of the crypto industry and said that the Harris administration is not necessarily opposed to cryptocurrencies in principle, adding that if Harris is elected president, his goal is to pass legislation supporting cryptocurrencies in the United States by the end of this year. He said: "I hope to bring members of both parties in the Senate together and create momentum so that we can pass reasonable legislation to help the United States maintain its position as the most innovative country in the world." Schumer said: "When it comes to artificial intelligence or encryption technology, innovation is our North Star." He pointed out that lawmakers need to provide guardrails to protect users of technology, maintain national security, and ensure that encryption technology is not abused by evil elements. “Congress has a responsibility to provide common-sense and sensible regulation for cryptocurrency, and we need your support to ensure any proposal is bipartisan,” Schumer added, calling on voters and cryptocurrency enthusiasts to pledge their support for Harris’ campaign.
Project News
Telegram adds paid emoji response function for posts, and Stars earned by channel owners can be converted into TON rewards
According to official news, Telegram has added a new paid emoji response feature for posts. Users can now respond to posts with star emojis to send Telegram Stars to their favorite channels and content creators. Channel owners receive 100% of Telegram Stars and can convert them into Toncoin cryptocurrency rewards or subsidized advertising. If channel owners want to enable star responses on posts, they need to enable it in "Channel Settings" > "Emoji Responses" > "Start Paid Emoji Responses".
Circle plans to launch tap-and-pay payment on iPhone after Apple opens NFC chip development to third-party developers
According to Cointelegraph, Jeremy Allaire, CEO of stablecoin company Circle, said that his company is planning to launch tap-and-pay payments on the iPhone after Apple opened the development of the iPhone's secure payment chip to third-party developers. In an announcement on August 14, Apple said it would open the use of its NFC chip and secure element (SE) to third-party application developers, paving the way for crypto developers to integrate blockchain-based payment functions on Apple devices. In a follow-up post on X, Allaire explained that before Apple took action, the only payment function that could use NFC on the iPhone was Apple's own Wallet application and Apple Pay function. Allaire said: "This will allow (points of sale) to tell the iPhone which blockchain address it will accept USDC from, or the amount that needs to be paid, and then the iPhone-based wallet application can prompt the user to confirm the payment (such as using FaceID) and initiate a transaction through the blockchain to settle USDC. Combine this with a high-performance and low-fee blockchain network, and this will open up a powerful way to pay USDC directly to merchants." In addition, Allaire explained that Apple's opening of access to its NFC chip will apply to "many aspects" beyond USDC, including NFTs for tickets, other certificates, and other stablecoins like EURC. It is worth noting that Apple said these APIs will be available to developers in Australia, Brazil, Canada, Japan, New Zealand, the United Kingdom and the United States, but did not mention the European Union and its 27 member states.
Investigation: Developer Sahil Arora has made about $30 million this year by issuing tokens for celebrities, most of which have gone to zero
Blockchain data visualization platform Bubblemaps released an investigation report, revealing that Indian developer Sahil Arora made about $30 million in profit by issuing tokens for celebrities in 2024. The report pointed out that Arora, who now lives in Dubai, has issued tokens for many celebrities such as Mayweather, Caitlyn Jenner, Iggy Azalea, Jason Derulo, Amber Rose, Lil Pump, Davido, Sunny Leone, Bobbi Althoff, Trippie Redd, etc., but most of the projects eventually went to zero. Arora operates through the Pump.fun platform, using his Instagram influence and certification marks to persuade celebrities to tweet about token addresses for high rewards. He usually holds 25-40% of the token supply and sells it immediately after the celebrity tweets, using celebrity fans as exit liquidity. Bubblemaps found more than 40 addresses associated with Arora. Since the beginning of 2024, he has cashed out about $26.4 million, with the highest amount of cashing out in August, reaching $6.6 million. Despite causing huge losses to investors, Arora’s actions fell into a legal grey area and were difficult to prosecute. Even celebrities involved in the scheme did not take action against him as they were partially responsible.
Bubblemaps mentioned that Sahil's first public foray into the cryptocurrency field dates back to 2017, when he founded the Vuzelaa Group in India at the age of 18 to install Bitcoin ATMs worldwide. Between 2020 and 2023, Sahil launched more than a dozen crypto projects, such as the crypto debit card ZelaaPayAE and the NFT market ZelaaNFT. Although both tokens failed, he made considerable profits and tasted the taste of quick profits.
Later in the day, ZachXBT said that Bubblemaps' survey data was wrong, saying that Sahil may have earned only $2 to $3 million this year.
Moonshot updates Memecoin issuance fee agreement, intends to distribute profits to creators and majority holders
Meteora, the token issuance and trading platform launched by DEX Screener, stated in its official blog that by launching Meme tokens on Meteora through Moonshot, creators and majority holders will receive locked-in lifetime liquidity fees. Moonshot hopes to transform creators and early supporters into shareholders, allowing them to benefit from the long-term growth of tokens while reducing repeated pumping and dumping behaviors, a move aimed at challenging Pump.fun. The initial liquidity will be permanently locked, and income will be distributed to liquidity providers. The dynamic fee agreement ranges from 0.15-15%, and 80% of the funds collected through dynamic fees will be distributed. The specific distribution is as follows: 20% is allocated to token creators; 70% is allocated to the first 50 token holders; 10% is allocated to DexScreener; 20% of the dynamic fees are passed on to integrators and trading robots who refer traders to the capital pool.
Solana Ecosystem Re-staking Protocol Solayer Mainnet is launched, and the re-staking endogenous AVS system standard is launched
Solana Ecosystem Restaking Protocol Solayer announced on the X platform that the Solayer mainnet has been launched and the restaking endogenous application verification system (endogenous AVS) standard has been launched on the mainnet. Participants can obtain sSOL by staking SOL, and then delegate sSOL to the selected e-AVS to obtain native staking income (8.12%), MEV improvement, and AVS income. Solayer also released a v1 development kit that allows developers to interact directly with core functions. The project has been audited by Halborn Security and plans to launch more features, including an in-protocol fee module and permissionless AVS management.
Grass is taking snapshots to determine eligibility for upcoming airdrops
Grass, an artificial intelligence (AI) web crawler project based on the Solana network, announced on the X platform that with the end of Epoch 7, a snapshot is being taken, which will be used to determine eligibility for the upcoming airdrop event. Users' network participation (weighted by Epoch) will serve as the benchmark for their rewards. Details on how to check airdrop eligibility and more token economic information will be provided in the coming weeks. Looking ahead, the next phase of Grass after the network launch will shift from building core infrastructure to supporting the development of applications that will align the interests between users and the network at scale.
OKX will launch ARKM, PIXEL, and BOME spot trading
According to official news, OKX will launch ARKM, PIXEL, and BOME spot trading. Among them: ARKM/USDT trading pair will be launched at 14:00 today; PIXEL/USDT trading pair will be launched at 16:00 today; BOME/USDT trading pair will be launched at 18:00 today.
Circle CEO: Harris campaign is actively engaging with the crypto industry
According to CryptoSlate, Circle CEO Jeremy Allaire is optimistic about rumors that U.S. Vice President Kamala Harris is shifting to a more favorable stance toward cryptocurrencies. He made the remarks in an interview with CNBC on August 14, saying that Harris' presidential campaign is actively working with the crypto industry to "work together" to deepen understanding of crypto-related policies in preparation for the 2024 U.S. election. According to Allaire: "Both the government and the Harris campaign are working together to really understand the issues, participants, industries, and policy issues." In the interview, he also shared his views on a virtual roundtable held on August 8 with White House officials, Harris campaign representatives, U.S. lawmakers, and industry leaders. The Circle CEO said the event highlighted the bipartisan nature of the issue and its importance to voters. He added that the industry is seeking clarity on Harris' economic policy intentions and her stance on cryptocurrencies.
NYSE Arca withdraws application to list commodity trust and cryptocurrency ETF options
According to Cointelegraph, a document on August 13 showed that the New York Stock Exchange (NYSE) Arca Electronic Exchange withdrew a rule change it proposed in January this year. The proposed change would allow the listing and trading of options based on commodity trusts, including options based on cryptocurrency ETFs such as Grayscale GBTC. This is the latest in a series of regulatory activities around cryptocurrency ETF options. According to previous news, on August 8, the Chicago Board Options Exchange (Cboe) revised an application to list Bitcoin ETF options. According to a document on August 6, Nasdaq asked the US SEC to allow it to list BlackRock iShares Ethereum Trust (ETHA) options. Bloomberg expects Bitcoin spot options to go online in the fourth quarter.
Eric Trump hints at family's upcoming crypto project involving 'digital real estate'
According to CoinDesk, citing the New York Post, the Trump Group, the holding company of former US President Donald Trump's business enterprises, is about to launch a new cryptocurrency plan. Eric Trump, the son of former President Trump and executive vice president of the Trump Group, revealed the upcoming project in an interview with the Washington Post, but refused to disclose any specific details, saying only that the crypto project would be announced publicly after "everything is ready." He hinted that the project may involve "digital real estate," suggesting that people can lend or borrow money through it. Eric Trump said: "This project is fair, and it is collateral that anyone can get immediately. I don't know if people realize how big a shock this is to the banking and financial industries." He added in the interview that he has a "unique view" on "how people can be easily excluded from certain markets" and said that the Trump family "must have suffered a fair share of financial discrimination." In addition, Eric Trump said: "I think at some point, we all want to achieve some form of economic independence and live in a world where we don't have to follow the scripts of big banks. That day will come soon." Earlier on August 7, Trump's son Eric Trump said he had a strong interest in encryption/DeFi and would make a major announcement.
Multiple suspects in June Holograph hack arrested in Italy
Holograph, a full-chain NFT protocol, said on the X platform: "After two months of extremely intense pursuit by the French Office for the Prevention of Cybercrime (OFAC), BRI, Europol, the Italian Anti-Mafia Investigation Bureau and the Royal Cayman Islands Police Service (RCIPS), we are pleased to announce that several people have been arrested in connection with the Holograph hacking incident on June 13. As part of the arrests, a large number of assets and electronic devices have been frozen and seized. The arrests were carried out in Italy with the assistance of the French authorities. The suspect will soon be extradited to France for trial. As the investigation is still ongoing, the name of the suspect cannot be released at the request of the French authorities. The team will share more information on the recovery of assets in the Holograph ecosystem."
Vanguard's new CEO: No plans to launch a cryptocurrency ETF
According to The Block, Vanguard's new CEO Salim Ramji said in an interview that the company has no plans to launch a cryptocurrency ETF. Salim Ramji took over as Vanguard CEO last month after serving in senior leadership positions at BlackRock for ten years. Ramji most recently served as Global Head of iShares and Index Investments at BlackRock, responsible for managing most of the company's client assets and developing the iShares platform. Vanguard is the world's second largest asset management company, with more than $9 trillion in assets under management.
Fidelity Digital Asset Management is working on stablecoins and tokenized Treasury products
According to The Block, Cynthia Lo Bessette, head of Fidelity Digital Asset Management, said in an interview that it is not clear whether the next ETP product will appear after Bitcoin and Ethereum. Bessette added that although the U.S. Securities and Exchange Commission (SEC) has not yet approved an Ethereum ETF that can pledge the underlying assets, this may change because pledge is a key component of the Ethereum ecosystem. The emergence of an Ethereum pledged ETF may only be a matter of time, not a question of whether it will happen. Her team has had "constructive conversations" with SEC staff to discuss the possibility of introducing this feature to the market. In addition, Fidelity Digital Asset Management is also studying tokenization, including stablecoins, on-chain treasuries, and credit.
EigenLayer is testing support for permissionless tokens, this feature will be deployed to the mainnet next week
According to The Block, EigenLayer is testing support for permissionless tokens, allowing any ERC-20 token to be added to the protocol as a re-pledgeable asset. Eigen Labs said that this feature will be deployed to the mainnet next week, which will expand the range of assets that can provide security for decentralized networks and unlock the cryptoeconomic security of ERC-20 tokens. After completing the initial testing of the testnet, EigenLayer will enter the mainnet stage, and user interface support is expected to be launched in the late third quarter. Earlier this year, Andreessen Horowitz invested $100 million in Eigen Labs, and the total asset value of the project has now exceeded $12 billion.
Offchain Labs has established a new division called "Tandem" and has invested $10 million in the division
According to Bloomberg, Offchain Labs, the developer of the Arbitrum blockchain, announced the establishment of a new business unit "Tandem" dedicated to promoting mainstream adoption of crypto networks. Offchain Labs has invested $10 million in the department, focusing mainly on Ethereum ecosystem projects outside of Arbitrum. Offchain Labs is supported by venture capitalists such as Lightspeed Venture Partners and Ribbit Capital. Tandem will focus on promoting the application of blockchain in the mainstream market, such as Robinhood and blockchain games that cooperate with Arbitrum. Offchain Labs expects that the new department will become one of its main sources of income.
MetaMask Launches Blockchain Debit Card Developed in Partnership with Mastercard and Baanx
According to CoinDesk, MetaMask has begun to launch a blockchain debit card developed in cooperation with Mastercard and Baanx. The first batch of MetaMask cards will be piloted by a small number of users in the EU and the UK, and are planned to be promoted in a wider area later this year. The card allows users to pay directly with their USDC, USDT and wETH assets in the MetaMask self-custodial wallet, and the assets are supported by the Linea blockchain (Ethereum Layer-2 network).
Former TON Foundation member established TON Ventures with an initial fund size of US$40 million
According to The Block, former TON Foundation members Ian Wittkopp and Inal Kardan founded TON Ventures and launched the first fund worth $40 million. The fund aims to support projects based on the TON blockchain. Wittkopp and Kardan served as director of TON Accelerator and director of games, respectively. TON Ventures mainly invests in start-up projects within the TON ecosystem, focusing on areas such as decentralized finance, games, advertising/marketing and regulated financial products. Wittkopp said that TON Ventures has supported more than a dozen start-ups including Catizen, Tradoor and Evaa Protocol. The average investment amount of the fund is $500,000 or less, but it will also participate in late-stage "strategic" transactions such as large agreements. The fund is expected to be fully deployed within a year.
Binance Launches BANANA U-margined Perpetual Contract
Binance Futures will launch USDⓈ-M BANANA perpetual contract at 10:00 am Beijing time on August 15, with a leverage of up to 50x.
Hedge fund Millennium reduced its holdings of spot Bitcoin ETFs in Q2, with FBTC holdings down 14% and IBIT holdings down 48%.
According to Trader T, hedge fund giant Millennium Management reduced its holdings in spot Bitcoin ETFs in the second quarter (calculated by reported value). Among them, FBTC holdings decreased by 14%, and the current holdings are worth about US$589 million; IBIT holdings decreased by 48%, and the current holdings are worth about US$371 million; GBTC holdings decreased by 52%, and the current holdings are worth about US$82 million. However, the company increased its holdings in the following products: BITB holdings increased by 71%, and the current holdings are worth about US$65 million; MSTR (MicroStrategy stock) holdings increased by 8837%, and the current holdings are worth about US$121 million.
Bank of America Q2 report: holding $2.8 million worth of IBIT and $1.5 million worth of FBTC
According to the second quarter 13-F filing submitted by Bank of America to the U.S. SEC, as of June 30, it held $2.8 million worth of IBIT, an increase of 31%; and $1.5 million worth of FBTC, an increase of 21%.
Hedge fund firm D.E. Shaw increased its holdings of Bitcoin spot ETFs worth more than $170 million in Q2
According to the second quarter 13-F filing submitted by hedge fund company D.E. Shaw to the U.S. SEC, as of June 30, it held BlackRock IBIT worth $90 million and Fidelity FBTC worth $90 million, an increase of more than $170 million from the first quarter. It is reported that D.E. Shaw's IBIT holdings in the first quarter were $6 million and FBTC holdings were $3 million.
Goldman Sachs and Morgan Stanley bought more than $600 million of Bitcoin spot ETFs in the second quarter of this year
According to Reuters, regulatory documents released on Wednesday showed that Goldman Sachs and Morgan Stanley purchased more than $600 million in Bitcoin spot ETFs in the second quarter of this year. Goldman Sachs' quarterly disclosure documents (13-F) submitted to the U.S. Securities and Exchange Commission (SEC) show that as of June 30, it has purchased a total of about $418 million in Bitcoin spot ETFs, most of which are BlackRock IBIT, totaling nearly 7 million shares, worth about $238 million. At the same time, Goldman Sachs also holds a large number of Fidelity FBTC and Invesco Galaxy Bitcoin ETF shares. On the other hand, as of June 30, Morgan Stanley also held 5.5 million shares of BlackRock IBIT, worth $188 million. The bank also holds a small number of Ark ARKB and Grayscale GBTC shares.
Binance will launch G and RARE U-margined perpetual contracts
Binance Futures will launch the GUSDT perpetual contract at 20:30 (Beijing time) on August 15, 2024, and the RAREUSDT perpetual contract at 21:00 (Beijing time) on August 15, 2024, with a leverage of up to 50 times.
Financing News
Decentralized AI blockchain platform Sahara AI completes $43 million in financing, led by Binance Labs and others
Sahara AI, a decentralized AI blockchain platform, announced the successful completion of a $43 million financing round led by Binance Labs, Pantera Capital and Polychain Capital, with participation from many top global investment institutions such as Samsung, Matrix Partners and Siam Commercial Bank of Thailand. At the same time, many leading figures in the AI industry and academia also joined in to help, including Laksh Vaaman Sehgal, Vice Chairman of Motherson Group, and Anthropic scientist Rohan Taori. Sahara AI was founded by Sean Ren, AI professor at the University of Southern California, and Tyler Zhou, former investment director of Binance Labs. Since April 2023, it has established cooperation with 35 leading companies and research institutions such as Microsoft, Amazon, and MIT. The financing will be used to expand the team, improve the performance of AI blockchain, and accelerate the construction of the developer ecosystem. “Binance Labs is committed to empowering teams with the potential to create disruptive technology solutions and supporting Web3 founders who can make a lasting impact,” said Yi He, co-founder of Binance and head of Binance Labs. “We look forward to Sahara AI taking the lead in building a decentralized AI blockchain platform to reshape the future of AI, making it more transparent, secure, and accessible to everyone.”
Parfin, a licensed Ethereum L2 developer, raises $10 million in funding led by ParaFi Capital
Parfin, a crypto infrastructure company focused on enterprise-level blockchain development, has raised $10 million in the first round of its Series A financing, The Block reported. The financing was led by ParaFi Capital, with participation from Framework Ventures, L4 Venture Builder and Núclea. Parfin plans to raise another $16 million through a second round of Series A financing, bringing the total financing to $38 million. Founded in 2019, Parfin will use the funds to continue developing its customized Rayls network and expand to global markets, especially Latin America. Rayls is a permissioned EVM blockchain for enterprise application scenarios such as tokenization, central bank digital currencies (CBDCs), and inter-institutional transactions. All accounts must meet KYC compliance requirements while maintaining user privacy and connecting to the DeFi world through the Rayls public chain. The blockchain is currently participating in the CBDC pilot of the Central Bank of Brazil and was selected for the Mastercard Start Path program in May. In addition, Parfin also provides stablecoins, fiat currency deposits and withdrawals, and crypto brokerage services.
Stablecoin payment platform Sling Money completes $15 million Series A financing, led by Union Square Ventures
Stablecoin payment platform Sling Money announced the completion of a $15 million Series A financing round, led by Union Square Ventures, with participation from Ribbit Capital and Slow Ventures. This round of financing will help Sling Money advance its mission of global payments, making cross-border remittances instant, convenient and low-cost. Transfers on Sling Money are made using Pax Dollar (USDP), a dollar-backed stablecoin issued by Paxos Trust Company. USDP and its reserves are strictly regulated by the New York State Department of Financial Services. Sling Money uses stablecoin technology and a user-friendly interface to enable users to make instant transfers between more than 50 countries at almost zero fees. The company previously received a $5 million seed round of financing led by Ribbit Capital.
Bitcoin network infrastructure developer Satflow completes $7.6 million seed round, with Coinbase Ventures and others participating
According to official news, Satflow, a Bitcoin network infrastructure developer, announced that it has completed a $7.6 million seed round of financing, led by Variant Fund, with participation from Nascent, Coinbase Ventures, UTXO Management, Hash3, CMS, Asymmetric, Robot Ventures, Bitcoin Frontier Fund, Sora Ventures, and MEME LAND. Angel investors include Nick Hansen of Luxor, Udi Wertheimer of Taproot Wizards, FarmerJoeDomo, Dan Held of Taproot Wizards, and Danny Diekroeger of Deezy.
According to reports, Satflow will focus on providing infrastructure for market makers and large traders, upgrading Bitcoin L1 to institutional-level quality and enhancing decentralization.
Mining News
Marathon Digital purchased 4,144 BTC for $249 million. The total amount of BTC on its balance sheet currently exceeds 25,000
Marathon Digital Holdings (MARA), a US bitcoin mining company, disclosed in its official blog that as of July 31, 2024, MARA held 20,818 bitcoins on its balance sheet, second only to MicroStrategy. Between August 12 and August 14, 2024, MARA purchased 4,144 BTC (about $249 million) using proceeds from the issuance of convertible notes. This purchase, combined with the BTC mined by the company so far this month, has increased the total amount of bitcoin held by MARA on its balance sheet to more than 25,000 BTC.
Important data
The total net inflow of the US Ethereum spot ETF yesterday was US$10.7736 million, and the ETF net asset ratio reached 2.34%
The total net outflow of the US Bitcoin spot ETF yesterday was US$81.363 million, and the ETF net asset ratio reached 4.59%
Two-thirds of institutional Bitcoin ETF holders increased or bought in Q2
According to Cointelegraph, Bitwise data shows that about 66% of institutional investors held or increased their holdings of Bitcoin through US spot ETFs in the second quarter. According to the 13F documents submitted to the US Securities and Exchange Commission, 44% of asset managers increased their Bitcoin ETF positions in the second quarter, while 22% of asset managers remained unchanged. Only 21% of institutions reduced their positions and 13% liquidated them. Matt Hougan, chief investment officer of Bitwise, said: "This is a pretty good result, comparable to other ETFs." It is reported that SEC Form 13F is a quarterly report that all institutional investment managers with at least $100 million in assets under management must submit.
Since August this year, Lido Ethereum staking has been in a net outflow state for 12 consecutive days
According to the monitoring of on-chain analyst @ai_9684xtpa, Lido Ethereum staking has been in a net outflow state for 12 consecutive days since August this year, and he found that each consecutive net outflow of Lido after BTC ATH corresponds to a decline in the market. The net outflow during 08.01-08.12 was 74,304 ETH (worth 194 million US dollars), of which the net outflow on 08.12 was as high as 31,104, accounting for 42% of the total outflow in 12 days; the data on 08.13 and 08.14 showed a slight recovery.
A new address was created after the WBTC custody change incident and accumulated 1,605 WBTC in 3 days
According to on-chain analyst Ember, a new address was created after the WBTC custody change incident and accumulated 1,605 WBTC (about $94.62 million) in three days. On August 11, BitGo said it would create a joint venture with BiTGlobal to transfer WBTC to a jurisdiction for custody. Subsequently, some protocols and institutions said they would no longer use WBTC due to potential risks. The next day (August 12), this address was created and began to withdraw a large amount of WBTC from Binance. So far, a total of 1,605 WBTC (about $94.62 million) has been withdrawn from Binance in three days, with an average withdrawal price of $58,920.
Aave's weekly active borrowers reach approximately 40,000, a record high
According to Cointelegraph, decentralized financial protocols appear to be showing signs of recovery, with lending platform Aave setting a new record for weekly active borrowers. Aave founder Stani Kulechov reported in an August 14 X post that the lending protocol has about 40,000 weekly active borrowers, exceeding the previous high set at the end of 2022. Data shows that this trend is driven by emerging lending markets such as Base and Scroll. According to Dune analysis, Base currently accounts for nearly 30% of the total number of independent wallets on Aave V3. Layer2 platforms Arbitrum and Polygon rank second and third, with Aave wallet shares of 23.4% and 21%, respectively. At the same time, Kulechov pointed out that the platform's weekly depositor numbers have almost reached peak levels. According to Dune analysis, the number of Aave (AAVE) depositors surged earlier this month. In addition, the TVL of the entire DeFi ecosystem has grown 40% to $90 billion so far this year. However, the market correction has recently hit it.
Canaan Technology Q2 financial report: revenue of US$71.9 million, holding a record high of 1,114.2 Bitcoins
According to PR Newswire, Canaan Inc. announced its unaudited financial results for the second quarter ending June 30, 2024. The report showed that the revenue for the quarter was US$71.9 million, exceeding the expected US$70 million and up 104.8% from the previous quarter. Among them, mining revenue was US$9.3 million, down from US$10.5 million in the first quarter and US$15.9 million in the same period last year, mainly due to the reduction in Bitcoin mining after the halving. As of the end of the second quarter, Canaan held 1,114.2 bitcoins, a record high.
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