News linked to this event type.
According to Bloomberg, the latest Bank of America (BofA) fund manager survey shows that investors are continuing to increase their exposure to US equity assets, with bullish sentiment rising to a near five-year high and the number of bearish investors in the market significantly decreasing. Data disclosed by the team led by Bank of America strategist Michael Hartnett indicates that a net 56% of fund managers are overweight on stocks, the highest level since November 2021, while the investor cash allocation ratio has dropped to a "very low" 3.5%.
Odaily News In a recent interview on Cointelegraph's program Chain Reaction, Lucas Sum, Head of Stock Market Development at Gate, stated that crypto and stocks are quietly converging and increasingly becoming part of the same macro trade. He pointed out that the correlation between the crypto market and the Nasdaq index is currently higher than the five-year average, with the correlation coefficient once exceeding 0.8. Market sentiment is generally cautious at present, with more funds staying in low-risk assets such as stablecoins, as investors await clearer catalysts.Lucas Sum believes that the core narrative of the next market cycle may no longer be "crypto vs. Wall Street," but rather traditional financial assets accelerating their entry into the digital financial system through on-chain infrastructure. The scale of RWA has grown from approximately $12 billion a year ago to over $30 billion, while the scale of tokenized U.S. Treasury bonds has also reached approximately $15 billion, indicating that on-chain financial infrastructure continues to expand. Meanwhile, macro liquidity, real yields, and regulatory clarity remain key factors influencing the performance of risk assets. Against this backdrop, investors' focus is shifting from single-asset allocation to coordinated allocation across multiple asset classes. Lucas Sum noted that Gate is continuously expanding its stock business, currently covering U.S., Hong Kong, and Korean stock markets, with plans to extend further into more global markets to provide the necessary infrastructure for multi-asset investment.
Odaily News: Cryptocurrency platform Bitpanda has been fined €70,000 by the Austrian Financial Market Authority (FMA), making it the first publicly disclosed enforcement action under the EU's Markets in Crypto-Assets Regulation (MiCA). The ruling is now legally binding. The FMA stated that Bitpanda failed to submit its crypto asset white paper to the regulator at least 20 working days before publication, and published marketing communications prior to the white paper's release. Another marketing communication also lacked a disclaimer stating that it had not been reviewed or approved by the regulator, as well as telephone and email contact information. The violations relate to procedural and disclosure requirements, and do not involve allegations of fraud or investor losses. The MiCA rules for crypto asset service providers took full effect at the end of 2024, and the transition period for existing firms is gradually coming to an end. Bitpanda holds a MiCA license and is expanding across Europe. The EU is expected to revisit the framework in 2027 and tighten oversight of non-EU stablecoin issuers. (Decrypt)
Odaily News: Since the launch of Sui's Hashi Bitcoin lending protocol testnet on July 22, it has processed over 1.1 million Bitcoin deposits and 165,000 withdrawals within three weeks. As of last week, more than 25 institutions had participated in the system's stress testing. Participating institutions include digital asset custodian BitGo, trading firm Cumberland, as well as Swissborg, Fluid, and Ledger, covering areas such as trading, custody infrastructure, and wealth management platforms. Hashi allows users to deposit native Bitcoin, which is confirmed by Sui validators before minting hBTC for on-chain lending and stablecoin borrowing. Deposits utilize a 2-of-2 multi-signature mechanism with MPC validator signatures, while withdrawals require review by the Guardian Layer; the project team will proceed with the 2026 mainnet launch only after this security layer completes its security audit. (Bitcoin.com News)
The Securities and Futures Commission welcomes the announcement made today by the National Financial Regulatory Administration actively supporting Mainland insurance funds to participate in the Mainland and Hong Kong financial market connectivity, and supporting Mainland insurance institutions to invest in Exchange Traded Funds (ETFs) listed on the Hong Kong Exchange through Stock Connect. This policy will further expand the options for Mainland insurance institutions to conduct overseas asset allocation through Hong Kong, demonstrating the National Financial Regulatory Administration's support for continuously deepening the financial connectivity between the Mainland and Hong Kong.
According to TechFlow Research, Morgan Stanley's August 16 research report noted that Reuters reported PE giant Silver Lake is in talks to acquire Workday, driving a collective surge in the software sector last Friday. Workday has a market cap of approximately $50 billion. If acquired at a 30% to 40% premium, the valuation would be approximately 5x 2027 P/S ratio and 16x 2027 free cash flow, both below historical averages. Morgan Stanley believes this indicates software stocks may have become cheap enough to entice PE firms to re-enter the market; if the deal materializes, it will boost sector valuations. The report also noted that while open-source models suppress token prices, hyperscalers can still maintain 20% to 60% ROIC on their proprietary compute. Investor surveys show 52% expect increased divergence within software stocks, with bulls numbering approximately twice that of bears. Morgan Stanley expects Cursor's annualized ARR to reach $8 billion by year-end and $33 billion by 2030, maintaining an Underweight rating on Netcompany. PE returning to acquisitions, cost layering of open-source models, and investor confidence repair—these three signals indicate software sector valuations have been compressed to a critical point.
According to The Block, Kraken has officially launched US stock trading services for eligible users in all member states of the European Economic Area (EEA). It is reported that the service was previously quietly launched in Germany, the Netherlands, and France, and is now officially fully open to the entire European Economic Area. Kraken stated that it is currently the only crypto-native platform capable of providing European Economic Area users with trading of both spot US stocks and their tokenized versions within the same regulated account.
According to Yonhap News Agency, the Gwangju Police Agency's Cyber Crime Investigation Team has arrested and referred three suspects, led by A (in their 60s), suspected of establishing offices in Seoul, Gwangju (Jeollanam-do), Gunsan (Jeollabuk-do), and other locations since November 2024, and using false promises such as "principal guarantee" and "potential returns of billions of Korean won" to lure over 100 elderly individuals aged 70 to 80 into investing in virtual assets, defrauding them of a total of approximately 500 million Korean won. The police stated that there are expected to be victims yet to be revealed, are currently continuing to expand the investigation, and reminded the public to remain vigilant against investment offers promising principal protection and high returns.
Shanghai No. 1 Intermediate People's Court announced a precedent case involving telecom network fraud related to virtual currency settlement and detailed the criteria for determining "traffic guiding personnel" as accomplices to fraud in telecom network fraud crimes. The defendant in the case assisted overseas fraud organizations in carrying out "traffic guiding" activities, resulting in victims being defrauded of more than 2.34 million yuan in total; the principal offender was sentenced to 13 years imprisonment and fined 300,000 yuan. Shanghai No. 1 Intermediate People's Court pointed out that in telecom network fraud cases, "traffic guiding personnel" may constitute accomplices to fraud or the crime of illegally utilizing information networks depending on the specific circumstances. The key lies in determining whether they formed clear criminal intent contact with the upstream fraud criminal gang and whether there exists stable collaborative division of labor. In judicial practice, when determining the criminal responsibility of "traffic guiding personnel", factors such as their role in the crime chain, degree of organization and management, contact with upstream criminal personnel, method of profit, and manifestation of abnormal behavior should be comprehensively considered. A distinction should be made between acts merely providing general network services without forming fraud conspiracy and "traffic guiding" acts where one knowingly participates in the implementation of fraud.
Odaily News – According to the latest report by The Economist Enterprise, after 13 years of development and multiple strategic upgrades, Gate is gradually evolving from a traditional crypto asset trading platform into a comprehensive financial infrastructure connecting digital assets with traditional financial markets. The report notes that as more traditional financial products — including stocks, ETFs, tokenized assets, forex, and metals — enter the digital asset ecosystem, Gate is leveraging its multi-asset product layout and global infrastructure development to further bridge the gap between crypto finance and TradFi. In the interview, Gate Founder and CEO Dr. Han stated that as the industry evolves, digital asset platforms are no longer facing only technical challenges, but also risk management, user protection, and industry regulation.In terms of TradFi integration, Gate has established a multi-layered framework spanning tokenized assets, derivatives, and native stock trading, successively launching products and services such as xStocks, Ondo, Gate TradFi, Pre-IPOs, Direct IPO Access, and Gate Stocks. Among these, Gate Stocks now supports stock trading in the U.S., Hong Kong, and South Korea, significantly lowering the barrier for global users to participate in traditional financial markets. Meanwhile, Gate continues to enhance its 24/7 trading and liquidity infrastructure to meet the cross-market asset allocation needs of users worldwide.The Economist Enterprise also pointed out that as the digital asset market moves further toward institutionalization, compliance, transparency, and infrastructure capabilities are becoming key components of platform competitiveness. Gate continues to advance its compliance framework across multiple global jurisdictions and has provided third-party audits and open-source Proof of Reserves since 2020. In addition, Gate is introducing AI infrastructure into Web3, connecting AI with trading, wallets, and more services through products such as Gate AI, Gate MCP, and GateClaw, driving the platform's evolution from a traditional trading venue into a comprehensive financial infrastructure that connects digital assets, traditional finance, and AI applications.
According to Bitcoin.com, the EU adopted the 21st package of sanctions against Russia on July 23, further tightening controls in the cryptocurrency sector. The new regulations impose trading bans on 14 crypto service platforms in Georgia, Panama, the UAE, Belarus, and other locations, and starting from August 25, prohibit Russian and Belarusian citizens from holding any position or ownership in crypto service providers under the EU's MiCA framework. Additionally, new provisions authorize the EU to impose comprehensive trading bans on third countries that "systemically and persistently fail to prevent" sanctioned crypto activities, granting extraterritorial effect to the relevant regulations.
According to the "BOK Issue Note" report released by the High Employment Research Team of the Bank of Korea Survey Bureau on the 18th, between June 2022 and June 2026, jobs for Korean youth (aged 15-29) decreased by a total of 285,000, of which 268,000 (94%) were concentrated in AI high-exposure industries, involving fields such as information services, publishing, computer programming, and professional services. Meanwhile, employment for the group aged 50 and above increased by 230,000, with 75.2% also coming from AI high-exposure industries. The report pointed out that after the release of ChatGPT, the average unemployment rate for university graduates rose to 7.0%, higher than the 5.4% for youth with associate degrees or below, whereas previously there was almost no difference between the two. The report suggested that policies should focus on building new career ladders to help youth accumulate experience and skills with AI assistance, rather than simply retaining entry-level positions.
Odaily News, citing sources familiar with the matter, the U.S. Department of Justice is conducting an antitrust investigation into Andreessen Horowitz (a16z), examining whether its investing partners improperly held board seats at competing AI companies simultaneously.The investigation involves a16z-backed Databricks and Fivetran, with a16z co-founder Ben Horowitz serving on Databricks' board and partner Martin Casado serving on Fivetran's board.Sources said the investigation has been ongoing for nearly a year, and the DOJ has not yet decided whether to take further action, and may ultimately take none at all. (Bloomberg)
据 Bloomberg 报道，风险投资机构 Andreessen Horowitz（a16z）正面临美国司法部（DOJ）反垄断调查，核心争议在于其投资合伙人是否不当同时出任多家存在竞争关系的 AI 公司董事会成员。 据悉，涉事公司包括数据基础设施独角兽 Databricks 与数据集成平台 Fivetran，两者均为 a16z 被投企业，且同属数据收集、整理与分析赛道，存在直接竞争关系。其中，a16z 联合创始人 Ben Horowitz 担任 Databricks 董事会成员，合伙人 Martin Casado 则出任 Fivetran 董事会成员。
Odaily News: The Russian Central Bank has released a draft regulation stipulating that professional market participants, including brokers, trust management firms, forex dealers, and cryptocurrency exchanges, must include crypto assets in their equity calculations. Crypto assets approved for trading on exchanges may account for no more than 25% of total equity value. The draft requires that relevant crypto assets be registered with a crypto-asset custodian so that regulators can verify their existence. The Russian Central Bank stated that this ratio will be used to assess credit risk and market risk, ensuring that intermediaries have the capacity to cover potential losses. The Russian State Duma has approved a cryptocurrency regulatory framework that allows both qualified and unqualified investors to trade cryptocurrencies, though the latter are subject to an annual purchase limit of 300,000 rubles (approximately $3,800). Cryptocurrencies still cannot be used as a domestic payment instrument, but import and export enterprises are permitted to use them for cross-border settlements without restrictions. (Bitcoin.com News)
The U.S. Office of the Comptroller of the Currency conditionally approved World Liberty Financial's trust license application. Ten Democratic senators signed a bill to prevent corruption in bank applications.
The Office of the Comptroller of the Currency (OCC) has conditionally approved World Liberty Financial's application for a national trust bank charter, subject to regulatory and policy requirements. Upon approval, the company may operate under the name World Liberty Trust Company, National Association. World Liberty Financial's application documents show that the bank plans to issue USD-backed stablecoins and custody digital assets related to its USD1 token. U.S. President Donald Trump and his three sons are all affiliated with the company, with Trump family entities holding a 38% stake. Senator Elizabeth Warren, along with nine other senators, introduced the Terminating Presidential Banking Corruption Act following the approval. Elizabeth Warren stated that the OCC's move represents one of the most blatant conflicts of interest in the U.S. financial system. In January 2025, an Abu Dhabi investment company backed by UAE National Security Advisor Sheikh Tahnoon bin Zayed Al Nahyan purchased a 49% stake in World Liberty for $500 million. Another UAE entity, MGX, previously used USD1 to invest $2 billion in Binance. (Cointelegraph)
Odaily News According to reports, multiple prediction markets are converging on pricing for the Fed's September meeting outcome: approximately 74% probability of holding rates steady, about 25% probability of a 25 basis point rate hike, and nearly 1% probability of a rate cut. Relevant Polymarket contracts have seen trading volume of $33.9 million; Kalshi, a prediction exchange regulated by the US Commodity Futures Trading Commission (CFTC), shows a 73.5% probability of holding rates steady, with related wagers nearing $10 million. Myriad, a prediction platform operated by Dastan, indicates approximately 71% probability for this option. The Fed's July meeting voted 9 to 3 to hold rates at 3.50% to 3.75%, with 3 committee members supporting a rate hike. The FOMC is scheduled to meet from September 15 to 16, with the statement planned for release on September 16; a survey shows nearly 70% of economists expect rates to remain unchanged for the remainder of 2026. (Decrypt)
Odaily News: Cryptocurrency exchange Binance plans to apply for a license from the UK's Financial Conduct Authority (FCA), with some services for UK residents expected to resume in 2027. The application is related to the upcoming new digital asset regulations in the UK. The FCA stated in June 2021 that Binance Markets Limited, a UK subsidiary of Binance, was not permitted to conduct regulated activities in the UK. In 2023, Binance announced it would halt new user registrations in response to UK financial promotion regulations. A Binance spokesperson said the company does not comment on speculation regarding potential license applications. Under the crypto regulatory framework published by the FCA in June, relevant firms can submit applications from September this year until February 28, 2027, with the regulatory regime officially taking effect on October 25, 2027. (Cointelegraph)
Binance plans to apply for a crypto license from the UK Financial Conduct Authority, expecting to resume some UK services in 2027.