News & Research

Binance founder and former CEO Changpeng Zhao said that while the growing corporate adoption of Digital Asset Treasury (DAT) strategies is positive for the market, it also requires caution. Speaking at the Bitcoin Asia event in Hong Kong on Aug. 29, Zhao noted that these strategies provide traditional stock market investors with indirect exposure to cryptocurrencies and aid in the broader adoption of crypto and Bitcoin. However, he warned that if the market enters a downturn, the stock prices of these companies could fall simultaneously with the value of their crypto assets. Zhao advised that investors in such companies should therefore carefully monitor market volatility and structural risks.

Bitcoin Infrastructure Acquisition Corp., a special purpose acquisition company (SPAC) led by CEO Ryan Gentry, an executive at Lightning Labs, is pursuing a $200 million initial public offering (IPO) on the Nasdaq, Cointelegraph reported via its official X account.

Five opposition parties in Argentina are pushing to relaunch an investigation into President Javier Milei's involvement with the memecoin Libra (LIBRA), CryptoSlate reported. The opposition claims that investors suffered massive financial losses due to the president's promotion of the token. Milei had previously promoted LIBRA on his X account. Following a crash in the token's price, he was investigated by the country's anti-corruption office and subsequently disbanded the task force assigned to the case.

Global cryptocurrency exchange OrangeX announced that it has raised $20 million in a Series B funding round. The round was led by existing lead investor Kryptos, with SCI Ventures participating as a major investor. This follows a $10 million Series A round the company secured in September 2023. OrangeX plans to use the new capital to accelerate the optimization of its infrastructure and its global market expansion.

Canada-based crypto infrastructure provider Luxfolio is pursuing a $73 million capital increase, Decrypt reported. The company may use the funds to purchase additional LTC. Luxfolio aims to secure one million LTC by 2026 and has been disclosing its purchase information since July.

Bloomberg ETF analyst James Seyffart has predicted that many altcoin exchange-traded products (ETPs) are likely to fail. He explained that ETPs for long-tail assets, which he described as tokens with small market capitalizations and low liquidity, are almost certain to not attract significant capital inflows. Seyffart noted that products with low investment levels are likely to be delisted eventually, adding that this is particularly true if five or more applicants are awaiting ETP approval for the same altcoin. Seyffart previously stated that a total of 92 crypto ETFs are pending review by the U.S. Securities and Exchange Commission (SEC).

The following are liquidation volumes and ratios for major cryptocurrency perpetual futures over the last 24 hours: - BTC: $39.33 million, with long positions accounting for 57.86%. - ETH: $89.14 million, with long positions accounting for 73.05%. - SOL: $27.90 million, with short positions accounting for 57.97%.

U.S. spot Bitcoin ETFs recorded a net inflow of $179.36 million on Aug. 28, marking the fourth consecutive trading day of positive flows, according to Trader T. Ark Invest's ARKB led the inflows with $79.81 million, followed by BlackRock's IBIT with $64.19 million. Other notable inflows included $25.02 million for Bitwise's BITB, $5.45 million for Grayscale's Mini BTC, and $4.89 million for Fidelity's FBTC.

The current Bitcoin market cycle is becoming more prolonged compared to previous ones, according to an analysis by CryptoDan, a contributor to CryptoQuant. On-chain data shows that the proportion of Bitcoin held for over one year is increasing at a slower pace. The analyst attributed this trend to the introduction of spot ETFs, increased adoption by institutions and nations, and capital flows into altcoins, noting that Bitcoin's rallies have repeatedly stalled when funds move into altcoins. Looking ahead, the analysis suggests that expectations for a September interest rate cut and the potential approval of spot altcoin ETFs in October are likely to act as positive market catalysts. Consequently, a more positive market sentiment could form this autumn and winter. From a cycle perspective, any further corrections could present favorable buying opportunities for investors, the analyst concluded.

U.S. spot Ethereum (ETH) ETFs recorded a net inflow of $39.63 million on Aug. 28, marking the sixth consecutive trading day of positive flows, according to Trader T. BlackRock's ETHA led the inflows with $68.09 million, followed by Grayscale's Mini ETH with $6.27 million. Conversely, Fidelity's FETH and Bitwise's ETHW experienced net outflows of $33.45 million and $1.28 million, respectively.