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Odaily News: Recent Bitcoin volatility has triggered a wave of leveraged long position liquidations. On August 22, hourly liquidations reached $529 million, with long positions accounting for $478 million; on August 23, an additional $84 million in crypto long positions were liquidated within one hour.Prediction market Kalshi launched the first spot Bitcoin perpetual futures contract approved by the U.S. Commodity Futures Trading Commission (CFTC) on June 3, with liquidations reaching $5.5 billion in the first two weeks. Kalshi CEO Tarek Mansour stated that the product offers U.S. institutions regulated onshore perpetual contract trading.Benjamin Schiffrin, Director of Securities Policy at Better Markets, pointed out that perpetual futures are high-risk crypto products for retail investors, and the CFTC did not impose additional investor protections when approving them. Analysis account Qmo noted that there are significant Bitcoin long liquidation pools in the $62,000 to $67,000 range; trader Money Bunny disclosed that short liquidations reached $2.7 billion to $3.5 billion within 24 hours. (Forbes Digital Assets)
Odaily News - Digital asset manager Grayscale's Zcash ETF began trading on NYSE Arca on Tuesday under the ticker ZCSH. The product is the world's first exchange-traded product offering spot exposure to Zcash, allowing investors to track ZEC prices through securities accounts without needing to directly purchase or store the token.ZCSH was formerly known as the Grayscale Zcash Trust, established in October 2017 through a private placement. Grayscale filed an application with the U.S. Securities and Exchange Commission in November 2025 to convert the trust into an ETF, with shareholders holding shares that track the fund's ZEC holdings rather than holding ZEC directly.In May of this year, security researcher Taylor Hornby, using Anthropic's Claude Opus 4.8, discovered a vulnerability in Zcash's Orchard shielded pool that had existed for four years, which could potentially allow attackers to mint counterfeit ZEC. Developers deployed an emergency patch on June 1, but due to privacy mechanisms, it was not possible to cryptographically confirm whether the vulnerability had been exploited.Zcash activated the Ironwood upgrade in July, replacing Orchard with a new shielded pool and introducing accounting rules that limit the amount of ZEC exiting the old shielded pool to no more than the amount entering. Grayscale stated it will monitor the adoption of the Ironwood upgrade, network security, exchange support, and regulatory conditions for privacy assets. (Decrypt)
According to a post by ZachXBT, after reviewing relevant evidence, he stated that two U.S. investment platforms, BitcoinIRA and iTrustCapital, are suspected of having suffered data breaches this year, though neither appears to have publicly disclosed the incidents to date. The compromised data reportedly includes user profiles, portfolio holdings, banking information, custodian details, and verification statuses. ZachXBT noted that in June 2026, an attacker leveraged information from the relevant database to target a BitcoinIRA user, stealing more than $1.2 million in assets.
According to Chaoxiang Research, Goldman Sachs' fourth annual report in its CHIPS Act series, released on August 24, indicates that by June 2026, China's semiconductor IC self-sufficiency rate will reach 70%, nearly double the 38% recorded in January 2010. Goldman Sachs has raised its forecast for China's semiconductor capital expenditure to $82 billion in 2030, up 79% from previous estimates. The report covers CXMT, China's leading DRAM manufacturer, for the first time, assigning a Buy rating with a target price of ¥129. Goldman Sachs projects that the supply-demand gap for China's advanced logic processes at 7nm and below will narrow from 92% in 2025 to 34% by 2035, while wafer demand for AI servers will grow at a CAGR of 42% over the same period. Under the baseline scenario, China's AI chip market is projected to reach $678 billion by 2030, representing a CAGR of 69% from 2025 to 2030; the DRAM market will reach $257 billion by 2028, growing at a 50% CAGR, with HBM expanding at an 188% CAGR. China's WFE spending will increase by 13%, 20%, and 15% in 2026, 2027, and 2028, respectively. The revenue share of domestic equipment manufacturers in China's WFE market will rise from 31% to 38%. Despite the rising localization rate, global equipment suppliers remain key beneficiaries of China's capacity expansion in advanced processes. Goldman Sachs recommends Applied Materials, Lam Research, and Onto Innovation.
According to The New York Times, two successive heads of the Polish crypto exchange Zondacrypto (formerly BitBay) have gone missing over a four-year period. Founder Sylwester Suszek disappeared in 2022, and his successor, Przemyslaw Kral, has also been missing since April this year. Prior to his disappearance, Kral stated that the exchange held approximately 4,500 BTC, valued at over $300 million, but the access keys to the relevant wallets were controlled by the already-missing Suszek. Zondacrypto subsequently became embroiled in disputes over client assets and withdrawals and came under investigation by Polish prosecutors. Its operating entity, BB Trade Estonia, had its virtual asset service license revoked by the Estonian Financial Intelligence Unit (FIU) on June 29.
Odaily News UBS has raised its S&P 500 index target, projecting a target of 8,100 points by December 2026 and further increasing to 8,400 points by June 2027, citing strong corporate earnings growth and sustained economic resilience.UBS expects S&P 500 companies' earnings per share (EPS) to reach $350 in 2026 and $400 in 2027, driven primarily by performance in the technology, semiconductor, and energy sectors.The bank continues to hold a positive outlook on U.S. economic resilience, the Federal Reserve's patient policy stance, and the accelerating adoption of artificial intelligence, believing there is still room for the current bull market to extend.However, UBS also flagged potential risks, including rising oil prices, resurgent inflation, and AI investment returns falling short of expectations, which could weigh on market valuations and upward momentum.
Odaily News - Bitcoin extended its gains on Wednesday and climbed above $72,000 on Thursday, reaching its highest level since June 1.Market analysis suggests that the recent rally is primarily driven by easing pressure in the U.S. Treasury market. The White House's earlier signals of support for Treasury market stability alleviated investor concerns over bond market volatility. However, the longer-term trajectory still depends on changes in Federal Reserve liquidity policy.Analyst Pedro Fontes noted that if the world's largest debt market requires policy support to maintain stable operation, it would further strengthen demand for assets that are scarce, predictable, and not reliant on government debt expansion—characteristics that Bitcoin aligns with. Meanwhile, the U.S. dollar index fell 0.88% to 98.77 yesterday, hitting a fresh low since May.Strive Founder and CEO Matt Cole stated that the dollar index has been in a long-term "structural downtrend," and a weaker dollar could create a more favorable investment environment for assets like Bitcoin. Markets will continue to monitor the White House's further remarks on the bond market, shifts in geopolitical conditions, and U.S. initial jobless claims data today, as these factors could influence Treasury yields and market liquidity expectations. (CoinDesk)
Odaily Odaily News: AI company OpenAI is advancing its IPO preparations with the goal of completing an initial public offering (IPO) next year. OpenAI Chief Financial Officer (CFO) Sarah Friar stated at an all-hands meeting that OpenAI will become a publicly listed company next year.Sarah Friar noted that competitor Anthropic may go public in September, ahead of OpenAI, but this does not affect OpenAI's focus on its own development. She pointed out that an IPO is just a milestone and another form of financing. OpenAI completed a $122 billion funding round in March this year and currently has considerable room for choice.If business growth outpaces expectations, OpenAI does not rule out launching its IPO earlier than originally planned. In the second quarter of this year, OpenAI's revenue was surpassed for the first time by latecomer competitor Anthropic. During the same period, Anthropic achieved its first quarterly adjusted operating profit, while OpenAI's operating losses further widened.OpenAI and Anthropic each confidentially filed IPO applications with securities regulators in June. OpenAI CEO Sam Altman had previously considered delaying the IPO to seek a corporate valuation exceeding $1 trillion; after its March funding round, OpenAI was valued at $852 billion. (ETNews SW)
Odaily News – Geoff Kendrick, Head of Digital Assets Research at Standard Chartered Bank, stated that Bitcoin (BTC) could rise to $100,000 by the end of 2026 as the U.S. Treasury expands liquidity support for the long-term bond market.In a recent client report, Kendrick noted that Bitcoin's current key technical resistance level is $65,500. If the price breaks through this level, it could signal that the cyclical low for this market cycle has already formed. He suggested investors begin positioning for a Bitcoin rally to $100,000 by year-end. Kendrick stated that beyond the four-year cycle pattern for Bitcoin, which suggests the market may be nearing a bottom, the U.S. Treasury's recent announcement to expand long-term bond buybacks is also a significant catalyst.The U.S. Treasury plans to raise the cap on buyback operations for 10- to 20-year and 20- to 30-year Treasury bonds from $2 billion to at least $4 billion per operation. The expanded program is scheduled to be implemented from September 9 to November 4. Following the announcement, yields on long-term U.S. Treasuries notably declined, easing the pressure that the significant sell-off in the bond market had placed on financial markets.Kendrick believes the Treasury's expanded bond buybacks represent a "favorable environment for Bitcoin," as Bitcoin has previously benefited multiple times from government liquidity interventions, while its fixed supply mechanism gives it properties that hedge against currency debasement. In the market, Bitcoin rose over 6% on Wednesday, briefly approaching $69,000, marking its highest level since early June. Kendrick has previously been repeatedly bullish on Bitcoin's long-term trajectory, arguing that as global fiscal pressures increase and monetary policy trends toward easing, Bitcoin may enter a new long-term upward cycle. (Cointelegraph)
Odaily News: Edward Zimbardi, a 59-year-old Georgia resident, appeared in U.S. federal court facing 12 counts of wire fraud, 12 counts of money laundering, and one count of conspiracy to commit money laundering. Fiji authorities handed him over to U.S. custody on August 14, in coordination with the Federal Bureau of Investigation (FBI) and the U.S. State Department.Prosecutors allege that Zimbardi operated a project called "The Crypto Program" from June 2022 to August 2023, luring participants with promises of a fixed 25% monthly return on advertising packages, requiring them to transfer cryptocurrency into wallets he secretly controlled. The government claims that thousands of individuals collectively transferred over $165 million into these wallets. Prosecutors stated that Zimbardi did not purchase advertising but instead funneled more than $34 million into high-risk forex trading, using funds from new investors to pay earlier ones. His personal spending totaled at least $10 million, including purchasing property for his son, buying luxury cars, and making alimony payments.The U.S. Department of Justice stated that after the project collapsed in August 2023, Zimbardi left the country and settled in Fiji in July 2025 upon learning of the FBI investigation. The FBI is urging affected investors to come forward with information. (Decrypt)
According to The Business Times, Vietnam is advancing a pilot for a regulated cryptocurrency market, with the first batch of local digital asset trading platforms potentially launching as early as the third quarter of 2026. Previously, due to strategic deficiencies in anti-money laundering, counter-terrorist financing, and counter-proliferation financing, Vietnam was placed on the grey list by the Financial Action Task Force in June 2023 and has missed the rectification deadline.
Blockchain analytics company Chainalysis Government Solutions filed a bid protest with the U.S. Court of Federal Claims on July 27, challenging the U.S. Immigration and Customs Enforcement (ICE) award of an approximately $94.6 million blockchain forensics software and support services contract to competitor TRM Labs on a sole-source basis. The contract term is from July 1, 2026 to June 30, 2027, for investigations related to the Homeland Security Special Operations Group.
blockchain forensics firm Chainalysis Government Solutions filed a bid protest with the U.S. Court of Federal Claims on July 27, opposing the U.S. Immigration and Customs Enforcement's (ICE) decision to award a contract worth approximately $94.6 million to competitor TRM Labs on a sole-source basis. The contract, covering the period from July 1, 2026, to June 30, 2027, involves blockchain forensics software and support services for Homeland Security task forces investigating fraud, cybercrime, and sextortion cases. Chainalysis argues that ICE's decision was arbitrary and unreasonable. TRM Labs joined the case as an intervenor-defendant on July 28, defending the contract alongside the U.S. government. The court has allowed Chainalysis to temporarily seal its complaint, with oral arguments scheduled for September 2. ICE stated that after approximately six days of market research, it determined that none of the eight responding companies could meet the requirements. (Decrypt)
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: 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)
Odaily News - The latest disclosure from 21Shares' Polkadot ETF (TDOT) shows that in Q2 2026, the fund sold DOT tokens to pay staking rewards, incurring approximately $4.52 in realized losses for every $1 in distributions generated.According to regulatory filings, TDOT sold 98,505 DOT in Q2, generating approximately $107,500 in cash to pay staking rewards to shareholders. However, due to the sharp decline in DOT's price, these sales confirmed approximately $485,600 in losses.Data shows that DOT fell approximately 34% in Q2 2026, with a cumulative decline of 76% over the 12 months ending June 30. Since TDOT shareholders receive USD-denominated distributions rather than DOT staking rewards directly, the fund must sell DOT to convert to cash payments, thereby locking in losses in a low-price environment. In Q2, TDOT paid shareholders approximately $0.14698 per share in distributions, but the fund's share price fell from $14.95 to $9.86 during the same period, a decline of roughly 34%. Staking yields did not offset the losses from the decline in asset prices. (Protos)
Odaily News According to reports from the Americas, Europe, and the Middle East, family offices of ultra-high-net-worth investors are significantly increasing their investments in SpaceX, with total exposure reaching approximately $3.8 billion. This shows that private wealth institutions are competing for investment opportunities in the rocket, satellite, and artificial intelligence company founded by Elon Musk.According to data compiled by Bloomberg based on regulatory filings (13F), as of the end of June, the family office of Nick Pritzker, heir to the Hyatt hotel fortune, held a SpaceX investment position valued at approximately $1.8 billion.The report states that as SpaceX gains market attention following its initial public offering (IPO), more and more family offices are positioning themselves in the company through private market investment channels. Since SpaceX remains a high-valuation, scarce private technology asset, its equity opportunities have long been sought after by institutional investors and ultra-wealthy individuals.Investors value not only SpaceX's leading position in the commercial aerospace sector, but also its Starlink satellite internet business and its future potential in artificial intelligence infrastructure. As the AI wave prompts global capital to reassess the value of computing power, communications, and space infrastructure, SpaceX is gradually becoming an important investment target connecting the aerospace, satellite communications, and AI industries.However, due to the limited liquidity of SpaceX's private equity transactions and their high valuations, the large-scale bets by family offices also mean that investors are taking on higher long-term valuation and exit risks. (Bloomberg)
Odaily News: The Dutch Public Prosecution Service has sold cryptocurrencies seized from the bankrupt Dutch crypto platform Knaken, raising $2.5 million to repay creditors. Court-appointed bankruptcy administrator Carl Hamm stated that this amount is currently the sole source of funds in the bankruptcy estate. Knaken had offered Dutch users cryptocurrency trading and custody services through its app but failed to obtain the license required by the country's market regulator. The platform ceased operations in early June, and the Rotterdam court declared it bankrupt on July 16 after prosecutors sought liquidation on public interest grounds. Hamm estimates that customer funds totaled $12 million to $14 million and has notified approximately 6,300 customers to lower their expectations. A lawyer representing one client questioned whether prosecutors had the right to sell the relevant assets. Knaken founder Ronald J. disputed some of the investment figures and stated that the platform, operating as a broker, recorded all orders. (Decrypt)
Odaily Odaily News: In an operation codenamed "Lightning Strike," Hong Kong police arrested 14 men and 3 women aged between 20 and 54, including 13 Malaysians and 4 locals. They also raided 3 locations and seized HK$3.67 million in cash, believed to be criminal proceeds. The scam syndicate recruited Malaysians from overseas, arranging their flights and accommodation to come to Hong Kong as runners. They would pose as relatives of elderly victims, falsely claiming they had been arrested by police and demanding bail money, then arranging runners to collect the cash. Police investigations revealed that the syndicate collected a total of HK$4.67 million in fraudulent proceeds between June 4 and August 14. The case involves 22 victims, with reported losses totaling HK$2.47 million. On August 14, police arrested 5 individuals, including 2 local men, 2 local women, and 1 Malaysian man, all of whom are currently detained for investigation. Police also recovered HK$200,000 in fraudulent funds. Police stated that some foreign currency or virtual currency exchange shops were exploited by the syndicate to process or transfer fraudulent funds, and reminded these shops to verify customer backgrounds, transaction purposes, and fund sources, while also watching for abnormal cash and virtual currency transactions. Conspiracy to defraud carries a maximum sentence of 14 years in prison. (HK01 NFT)
Odaily News: The French Finance Minister has confirmed that hackers breached the systems of the French Public Finance Directorate in late June and stole taxpayer data belonging to individuals and businesses. According to FrenchBreaches, a platform that tracks cyberattacks in France, this incident affects approximately 678,437 people, roughly 1% of France's population, though the exact number is still under investigation and has not been finalised.The compromised data reportedly includes sensitive information such as names, dates of birth, home addresses, phone numbers, email addresses, tax identification details, and income data. Among those affected, nearly 27,000 individuals had taxable income of at least €100,000, 386 exceeded €1 million, and another 8 surpassed €10 million.Reports indicate that the database has been listed for sale on dark web marketplaces for several thousand euros. The attacker, going by the name ZeroBytes, claims to have extracted the records using an internal search tool before being detected and having access cut off.The incident has raised concerns within the crypto industry, as France has seen a noticeable increase in "wrench attacks" targeting crypto holders in recent years. If high-income individuals' addresses and contact details are exposed, it could provide criminals with a more precise list of targets.