Crypto Assets Industry Update Overview

Macroeconomic Policy

RAK Bank, a traditional bank in the UAE, has partnered with the crypto platform Bitpanda to launch retail crypto assets services. Users can directly trade crypto assets using dirhams through a mobile banking app, without the need to transfer to a third-party exchange.

The Hong Kong Monetary Authority will hold a technical briefing on the regulatory framework for stablecoin issuers, led by a senior team. The Authority plans to release supporting implementation guidelines to clarify regulatory details and control the number of licenses issued in the first batch.

Bitmain plans to establish its first factory in Texas or Florida in the third quarter of this year, initially hiring 250 local employees. Production is set to begin in early 2026, with full capacity expected by the end of the year.

Brevan Howard has appointed David Kalk as the portfolio manager of its multi-strategy digital assets fund. Kalk has extensive experience in macro and digital asset investments.

Cboe BZX Exchange has applied to the SEC to launch the Canary Staked INJ Exchange-Traded Fund, which tracks the native assets of the Injective blockchain.

Market Opinion

Ray Dalio, the founder of Bridgewater Associates, suggests allocating at least 15% of the investment portfolio to gold and Bitcoin to hedge against risks in the bond and stock markets. He believes that the rising debt risk in countries like the United States has not been fully absorbed, and the market could see a significant decline.

Solana co-founder Anatoly Yakovenko described Meme coins and NFTs as "digital trash," believing they have no intrinsic value. This has sparked heated discussions in the Crypto Assets community.

CoinShares launches zero management fee SEI ETP and offers a 2% staking yield, aimed at simplifying the process for institutional investors to enter SEI.

Project Updates

Omni Network (OMNI) is launched on Upbit KRW market, supporting Ethereum network transactions.

Binance will hold an Alpha airdrop event, eligible users can receive 100 TREE tokens. The event is divided into two phases and has a points threshold.

Binance will launch ZRC/USDT and ESPORTS/USDT perpetual contracts, supporting up to 50x leverage.

CoinDCX co-founder denies rumors of selling the company, stating a focus on the development of the Indian Crypto Assets market.

Succinct airdrop registration is open, announcing the PROVE token economics, with a first round airdrop of 5%. The total token supply is 1 billion coins, used for payments, staking, and governance.

FIS collaborates with Circle to provide banks with USDC-based stablecoin payment services.

Coinbase has included Bio Protocol (BIO) and Euler (EUL) in the asset roadmap.

Data Analysis

The total net inflow of Bitcoin spot ETFs yesterday was $157 million, marking three consecutive days of net inflow. BlackRock's IBIT saw the highest single-day net inflow, reaching $147 million.

World Liberty Fi invested 1 million USDC to purchase 256.75 ETH.

Abraxas Capital's short position on Hyperliquid has incurred a floating loss of over 100 million USD.

The suspected Amber Group address has withdrawn 15,814 ETH from the exchange within the last hour, with a total holding value exceeding 70 million USD.

CryptoPunks NFT trading volume reached a new high in nearly 4 months, exceeding 24.6 million USD last week.

A dormant Bitcoin whale account that was inactive for 12 years has been activated, containing 343 coins.

Financing Acquisition

Fireworks AI is negotiating a $4 billion financing, with a valuation that has increased sevenfold in a year.

Coinbase reportedly in late-stage talks to acquire Indian exchange CoinDCX.

Zodia Markets, a subsidiary of Standard Chartered Bank, has completed a $18.25 million financing for market expansion.

ETH Strategy raised 12,342 ETH during the pre-launch financing, approximately 46.5 million USD.

A16z leads a $60 million Series A funding for the loan platform Salient, with a valuation of $350 million.

The Crypto Assets trading platform Pear Protocol has completed a strategic financing of $4.1 million.

Institutional Holdings

Volcon increased its holdings by 316.8 coins of Bitcoin, with total holdings exceeding 3500 coins.

Upexi has reached a $500 million equity financing agreement to support the Solana reserve strategy.

Mill City Ventures III announces a $450 million private placement to launch the Sui financial strategy.

CEA Industries and 10X Capital privately raised $500 million to establish a BNB treasury.

MARA Holdings issued convertible bonds to raise $950 million for increasing its Bitcoin holdings.

Liminatus Pharma plans to raise $500 million investment in BNB.

BTCS Inc. increased its holdings by 14,240 ETH, bringing the total holdings to 70,028.

Sequans Communications increased its holdings by 755 coins, bringing its total holdings to 3,072 coins.

Hyperion DeFi increased its holdings by 108594 HYPE coins.