1783CLUB

August 26, CAI Wensheng shared in Hong Kong: Don’t wait for VCs to start a business—act when you identify a pain point
CAI Building owner and Longling Capital founder CAI Wensheng discussed several views at the event:
1. For innovative entrepreneurship, you must come to Hong Kong. In terms of policy, capital, and talent, Hong Kong is a bridgehead connecting East and West.
2. If you identify a pain point, act on it immediately. Don’t wait for VCs, and don’t start by thinking about obtaining a license. First validate the model, then raise funds when expanding.
3. Web3 requires patience. While ot

They actually said “there will always be a storage shortage” to make me miss the Crypto bull market.
Fortunately, at the end of June, I was the only one across the entire internet to say: storage has peaked—short it quickly.

BitMine increased its holdings by 32.45k ETH last week. As of August 23, its total holdings reached 5.85M ETH, approximately 4.8% of Ethereum’s total supply.
Among them, BitMine has staked 5.07M ETH, accounting for 87% of its total holdings and worth approximately $12.4 billion, with annualized staking rewards of approximately $330 million.

Are you scared yet? The big move is coming.
ETH rose 30% over the past week. This was its largest weekly gain since May 2025; before that, it was July 2021.
Interestingly, after the previous two instances of a weekly gain of this magnitude, ETH went on to stage an even bigger rally.
July 2021: subsequently rose 167%
May 2025: subsequently rose 170%
History does not necessarily repeat itself, but at the very least, it shows that weekly moves of this magnitude are never just a simple rebound.

Crypto mining veteran and BTC.TOP mining pool founder Jiang Zhuoer recently shorted ETH, holding the position from $1,834 all the way to a stop-loss at $2,100, losing several million dollars.
This was his largest single loss since he began swing trading. He also acknowledged that he made multiple mistakes in the process.
Without the stop-loss, he could have lost several million more, or even tens of millions of dollars.

Alibaba will issue 710 million new shares through a targeted offering at HK$112.70 per share, representing approximately 3.6% of its existing share capital.
Based on the closing price of HK$123 on August 21 (Friday), this represents an 8.37% discount.
The offering will raise approximately HK$80 billion, with net proceeds of approximately HK$79.7 billion after expenses.

To avoid repeating dYdX’s mistakes, Ondo is abandoning plans for a public chain and switching to an execution-layer approach, with public chains such as Ethereum handling final asset settlement.
Ondo Finance announced that it is shifting from its self-built Layer1 “Ondo Chain” to “Ondo Network”.
Core change: separating transaction execution from final settlement.
Ondo Network is responsible for: executing transactions at high speed and with privacy
Public chains such as Ethereum are responsible for: final asset settlement
Timeline:
February 2025: Ondo Chain announced as an institutional-grade

USDC issuance continues to grow, and demand for stablecoins remains strong.
In the 7 days through August 20, Circle issued approximately 7.5 billion USDC and redeemed approximately 6.7 billion, for a net increase of approximately 800 million. Total USDC in circulation reached 72.7 billion, with reserves of approximately $72.9 billion.
Reserve composition: approximately $48.1 billion in overnight reverse repos, $12.7 billion in short-term Treasury bills, $11.4 billion in institutional deposits, and $700 million in bank deposits.
$crcl $USDC #Circle

Trump conducted more than 21,000 securities trades throughout 2025, with a total value ranging from $600 million to $1.86 billion.
More than 80 trades per day on average. At this frequency, he is definitely a “high-frequency trading” type of player.

Institutional capital is accelerating its entry.
U.S. spot Bitcoin and Ethereum ETFs recorded combined net inflows of $2.6 billion this week, the highest since October 2025.
Spot Bitcoin ETFs recorded net inflows of $1.9 billion, while spot Ethereum ETFs recorded net inflows of $697 million; both products posted their largest single-week net inflows since 2026 began.

The U.S. Office of Government Ethics disclosed that Trump conducted more than 1,000 securities transactions in June, with a total value ranging from $78.1 million to $263.1 million.
Crypto-related transactions involved Coinbase, Strategy, and Robinhood, but accounted for a very small share of the total.
Specific transaction records:
Coinbase: Sold on June 12, 18, and 23, respectively (amounts ranging from $1,001 to $250k); bought $50k to $100k on June 24
Strategy: Sold on June 23 and 24, respectively (amounts ranging from $1,001 to $50,000)
Robinhood: Bought $1,001 to $15k on June 3.
#Coinbase

The most irrational thing about Crypto is that 80% of its annual gains may be compressed into just 10–20 trading days.
The remaining 300-plus days are either sideways, slowly declining, or a prolonged retracement after a sharp surge.
Watching the market every day, seeing your account fall instead of rise, you may even start questioning your life.
But this is often what a major market move really looks like.
Most of the time is spent torturing people, while a handful of days are responsible for transforming the return curve.
So the hardest part of Crypto has never been identifying a bull market

A barometer of activity in the A-share market
East Money's 2026 interim report is out:
Total operating revenue: $10.51B, up 53.22% year-on-year
Net profit attributable to the parent: $8.06B, compared with $5.57B in the same period of 2025, up approximately 44.8% year-on-year
Net profit excluding non-recurring items: $7.73B, up 47.13% year-on-year

Later, you moved into U.S. stocks.
You started researching NVIDIA’s GPUs, Micron’s DRAM, and SK hynix’s HBM, talking about “supply-demand gaps” at every turn and insisting that “2027 capacity is already fully locked up.”
You’ve changed.
Remember the old days? When you saw a coin with a frog, dog, penguin, or hippo as its avatar, the first thing you said was: “Send me the CA.” The second: “What’s the market cap?” The third: “Can I still get in?”
Three minutes later: “All in.”
Come back, brothers and sisters. This is where you came from.

Actually, breaking even isn’t that difficult—it only took a few days.
Strategy (NASDAQ:MSTR) has already broken even.
Strategy’s average BTC purchase price is around $75k. When Bitcoin fell to the low $50ks a while ago, its unrealized loss on paper briefly approached $10 billion.
It took only a few days to go from an unrealized loss approaching $10 billion to breaking even.
#Strategy $MSTR $BTC

U.S. stock market funds are fleeing for safety.
AI and tech stocks are fluctuating at high levels, and funds are beginning to look for safer places.
Gold has been falling for over half a year, while Bitcoin has been rangebound for nearly a year; both are relatively near the bottom. Compared with chasing AI at high levels, they offer better value here.
U.S. tech stocks: high levels, crowded trades, high volatility
Gold: near the bottom, with little room left to fall
Bitcoin: rangebound for several months, poised for a breakout
This wave may not be about trading AI, but rather the logic of safe-

Musk's X is exploring paying creators in USDC. In the future, you’ll be able to earn money by posting and receive USDC directly, without bank intermediaries or cross-border fees.
This isn’t just a different way to send money—stablecoins are shifting from “crypto trading tools” to “internet payment tools.”
If X can make this work, the combination of the creator economy and stablecoin payments could become a massive use case.

BTC surged 7% overnight, while ETH rose nearly 20% — breakdown of the four key drivers
The violent rebound last night was driven by four factors:
1/ The U.S. Treasury expanded buybacks
Starting in September, the scale of long-term Treasury buybacks will double (from 2 billion to 4 billion+ per transaction), lowering long-end yields and boosting risk appetite. Expectations for macro liquidity are improving.
2/ Regulatory signals are turning more positive
Trump met with executives from Coinbase, Ripple and other companies, as well as the heads of the SEC and CFTC, at the White House. Market expe

Chasing pumps and selling dips is the retail investor’s trademark.
At the end of June, I called the top for storage, but no one believed me.
I’ve been telling people to get into crypto for two months, yet 80% of the group members probably still haven’t gotten in.
ETH surged nearly 20% overnight. After moving sideways for so long, it has finally produced a large bullish candle.
Those without positions don’t need to chase it now in the short term—unless you’re investing for the long term.
Those with futures positions may consider closing them and reducing leverage.
Price gains driven by major ev