News linked to both this project and an event.
According to Digital Asset, South Korea's National Tax Service stated that it will introduce commercial blockchain tracking software used by domestic and international law enforcement agencies, including prosecutors, police, and the IRS, to track and analyze transfers between digital asset wallets in order to prevent tax loopholes arising from personal wallets. Meanwhile, regarding tax oversight of overseas exchanges, South Korea will address this through the Crypto-Asset Reporting Framework (CARF). Taking effect in 2028, CARF will cover transaction information from 2027, aligning with the timeline of the domestic digital asset income tax, which will be levied starting in 2027 with declarations due in May 2028, thereby achieving effective tax coverage of overseas holdings.
Odaily News Bitcoin has rebounded strongly recently. Analysts believe that record-breaking short squeeze activity, along with policy signals from U.S. Treasury Secretary Scott Bessent, may be pushing the market into a new phase of bull market cycle adjustment.Data shows that Bitcoin has risen approximately 23% over the past week, marking its largest weekly gain since the post-U.S. election rally in November 2024. Crypto market trading activity has also recovered in tandem, with spot and perpetual contract trading volume surging 188%. CME Bitcoin futures volume rose 152%, and the annualized futures basis climbed to 11.1%—the highest level since January 2025. Additionally, Bitcoin ETF products recorded net inflows of approximately 31,740 BTC over the week, the strongest capital inflow since the market peak in October 2025.Vetle Lunde, Head of Research at crypto research firm K33 Research, stated that the early phase of this rally was primarily driven by short covering. On August 19, Bitcoin short positions saw a single-day liquidation scale of $1.37 billion, a record high, followed by another $739 million in short liquidations on August 21. The massive short squeeze pushed open interest in perpetual contracts down to 284,000 BTC, the lowest level since May, while market funding rates also returned to neutral.On the macro front, policy signals from U.S. Treasury Secretary Scott Bessent regarding increased long-term Treasury buybacks are also viewed by analysts as a market catalyst. K33 believes that the Treasury buyback program could lower long-term interest rates and boost demand for scarce assets. Meanwhile, Bitcoin's correlation with gold has risen, with the 90-day correlation coefficient reaching 0.52—the highest since October 2020—while its correlation with the Nasdaq index has declined to 0.38, a one-year low.Matt Hougan, Chief Investment Officer at crypto investment firm Bitwise Asset Management, believes that Bessent's recent remarks on sanctions against Iran's financial network have further strengthened Bitcoin's investment thesis: as the global financial system becomes increasingly influenced by geopolitics, the value of assets that are decentralized and do not rely on any single nation's financial system may appreciate further. (The Block)
In its published analysis, BIT notes that Bitcoin is experiencing its strongest rally since the collapses of Silicon Valley Bank and Signature Bank in March 2023. During that period, US authorities implemented emergency measures to stabilize the banking system, and the current market sentiment mirrors that era—the recent interventions by the US Treasury in the Japanese yen FX market and bond markets have heightened investor expectations for further macroeconomic policy support. Meanwhile, the SEC's proposed regulatory framework for crypto assets has sent increasingly favorable signals, further bolstering market sentiment. BIT's official Chinese-language analysis indicates that Bitcoin has regained its upward momentum, aligning closely with the scenarios discussed in research over the past several weeks.
Odaily News: Cryptocurrency wallet project SafePal has released an update on the security incident, stating that it is continuously tracking phishing websites and impersonating accounts. The company plans to bring in a professional anti-phishing security firm to expedite the takedown of malicious information, aiming to protect user asset security.SafePal stated that it is currently in the final selection process among 4 professional anti-phishing security firms. Once a partner is chosen, it will further enhance the efficiency of handling threats such as imitation websites and fraudulent accounts. The team is also continuously monitoring whether affected data has been sold or made public, including channels such as dark web forums and trading markets. In the event that any signs of data leakage are detected, affected users will receive risk alerts as a top priority.In terms of security auditing, SafePal stated that it is making a final selection among 3 established independent security agencies, which will conduct a comprehensive security review of the order system. Meanwhile, the team is re-evaluating the order and logistics processes to reduce the scale of data that needs to be stored during the initial phase of the system, thereby lowering potential risks at the source.For affected users, SafePal stated that it will continue to provide one-on-one assistance through official support channels and will keep updating its fraud prevention page with event progress, frequently asked questions, and analysis of scam cases.SafePal once again reminds users: The official team will never ask users for their Seed Phrase. Users should not disclose their seed phrase to anyone, should not scan unknown QR codes or click on suspicious links, and should verify information sources through official channels.
Odaily News, Tom Lee stated that next week could become an important "clearing event" for the US stock market, with the market reassessing enthusiasm for artificial intelligence (AI) investment and uncertainty surrounding Fed policy.Tom Lee pointed out that the core question for the market right now is whether investor confidence can be restored after the recent cooling of AI trading. AI-related stocks have seen stagnating performance recently, influenced by two main factors: on one hand, concerns over data center investment demand and profitability returns; on the other hand, certain political factors have added to the uncertainty in AI industry development.However, Nvidia CEO Jensen Huang could be the key figure in reigniting market confidence. If Nvidia can demonstrate that demand for AI infrastructure remains strong, sustained order growth and market demand could drive capital back into the AI sector.Meanwhile, Tom Lee noted that uncertainty over the Fed's policy outlook continues to rise, and upcoming speeches by officials will be important signals for the market to gauge the interest rate path.Market participants believe that Nvidia-related news and Fed officials' statements next week could serve as key catalysts affecting tech stocks and overall risk assets. Investors will be watching whether the AI rally can regain upward momentum.
Odaily News, Ansem commented on X platform regarding "Kraken might become the first compliant CEX to deploy HIP-3," stating that if Hyperliquid aims to conduct compliant business in the US, it may need to find a partner that is both familiar with its product architecture and possesses complete regulatory qualifications. Kraken could be one of the potential choices.He pointed out that after Kraken's recent acquisitions of NinjaTrader and Bitnomial, its parent company Payward now holds FCM, DCM, and DCO licenses under the CFTC regulatory framework. Meanwhile, Hyperliquid has already established the corresponding infrastructure through HIP-3, meaning Kraken could theoretically serve as a new access point, offering related products in a manner similar to TradeXYZ. Arjun Sethi has consistently emphasized publicly that Kraken aims to play a "positive-sum game." Among existing US centralized exchanges, Kraken's potential may be severely underestimated. If this partnership actually materializes, it would be a major strategic move for Kraken to expand its market influence and add a significant business line.
Odaily News – HYPE reached an intraday high of $82 yesterday, rising 38% over the past week, with 24-hour trading volume exceeding $2 billion and a market cap of approximately $17.17 billion. Hyperliquid's 30-day trading volume surpassed $176 billion, with open interest exceeding $8 billion.On August 19, U.S. President Donald Trump stated that the Commodity Futures Trading Commission (CFTC) is pushing to bring Hyperliquid into the U.S. market in a compliant and lawful manner. On August 20, a wallet associated with venture capital firm Multicoin Capital transferred 308,884 HYPE tokens, valued at approximately $19.8 million, to institutional custody and trading platform Coinbase Prime within seven hours.During the same period, the wallet also transferred 172,710 and 62,700 HYPE tokens, valued at approximately $10.15 million and $4.37 million, respectively. Since February 2026, Multicoin Capital has transferred over $100 million worth of HYPE to Coinbase Prime. Meanwhile, Hyperliquid has been using approximately 99% of its perpetual and spot market fee revenue to continuously buy back HYPE through the Assistance Fund. (Bitcoin.com News)
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 News Tim Duy, Chief US Economist at SGH Macro Advisors, said that the recent appearance of multiple Fed officials casting dissenting votes on rate decisions has become more common over the past few years. Especially during periods when the economy faces multiple pressures and the policy path is unclear, strong disagreements among officials are likely, leading to more dissenting votes.Regarding the upcoming release of the Fed's meeting minutes, Duy believes the market's core focus will be on how widespread officials' concerns about inflation truly are. He noted that at the time, inflation was clearly running above the Fed's target, and policymakers worried that inflation would not quickly return to target levels. Meanwhile, the labor market was seen as having stabilized, which led some officials to strongly believe the Fed should raise rates to curb inflationary pressures. As a result, the market will closely watch how many Fed officials share this assessment, and whether concerns about inflation have formed a broader consensus within the decision-making ranks. The degree of divergence among officials over the policy path will also serve as an important clue for judging the future direction of interest rates.
According to Odaily, renowned crypto KOL Ansem stated that institutional funds are turning bullish on the market. For example, billionaire Stanley Druckenmiller has bought HYPE, Robinhood has launched its own L2, and hedge fund giant Paul Tudor Jones has increased his Bitcoin holdings. Meanwhile, the crypto regulatory environment has improved significantly, but crypto-native investors remain broadly extremely pessimistic. Ansem believes that the coexistence of institutional bullishness, regulatory improvement, and extreme pessimism within the market constitutes the typical conditions for a market bottom formation.
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 – 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 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 Bitfinex's latest report indicates that Bitcoin (BTC) has been fluctuating within a narrow range recently, with volatility, trading activity, and market liquidity all compressed to levels similar to those seen at the end of a bear market.Currently, Bitcoin's price remains above the "Median Realised Price" of around $63,200, while the key level for short-term holders (STH) to achieve overall profitability stands at $67,176. Meanwhile, market demand is weakening: U.S. spot Bitcoin ETFs recorded net outflows of approximately $385 million last week, corporate Bitcoin reserve-related activity has turned negative, spot trading volume has fallen to multi-year lows, and Bitcoin transfer speed has dropped to its lowest level in seven years.Bitfinex stated that in the current extremely thin liquidity environment, even slight changes in capital flows could trigger significant Bitcoin price fluctuations. At the same time, weak retail activity, declining real income, and deteriorating consumer confidence indicate that U.S. household demand is under pressure. Bitfinex noted that the current market shows a clear divergence: accommodative financial conditions are driving traditional risk assets higher, but the crypto market has not yet received corresponding capital inflows.Bitfinex believes that the core market question has shifted from "whether monetary policy will improve" to "whether improved liquidity can translate into capital inflows for crypto assets." If Bitcoin spot ETFs resume sustained net inflows in the future, coupled with stablecoin supply expansion, this would signal a restart of the crypto market's liquidity transmission mechanism and could become a key catalyst for BTC breaking out of its prolonged low-volatility state.Before capital returns, although the macro environment is gradually improving, the crypto market's upside still lacks capital support. However, given that market participation has dropped to extremely low levels and BTC continues to hold key realized price support levels, once liquidity re-enters the market, it could trigger violent fluctuations. The current structure leans toward an upward breakout once demand recovers.
According to crypto.news, Reform UK leader Nigel Farage was re-elected as an MP with 63.34% of the vote in the Clacton by-election, and the UK Parliamentary Standards Commissioner subsequently reopened an investigation into his undeclared financial interests. The investigation covers two items: first, personal payments of approximately $6.7 million (approximately £5 million) received from Christopher Harborne, a billionaire investor and shareholder of stablecoin issuer Tether; second, benefits provided by long-term advisor George Cottrell, including drivers, security, social media staff, and a five-story luxury mansion in London. Farage previously denied wrongdoing on the grounds that the "gifts occurred before taking office as an MP," and resigned in July this year, causing the investigation to be suspended. After this re-election, he must redeclare financial interests within one month, and disclose registrable interests received within the 12 months prior to the election. Meanwhile, UK Labour Party MPs are pushing to upgrade the temporary ban on crypto political donations into permanent legislation.
According to Decrypt, the U.S. Securities and Exchange Commission (SEC) has canceled the public meeting originally scheduled for this Friday. The meeting was planned for three commissioners to vote and discuss whether to seek public comment on an issuance exemption framework tailored for crypto assets—this would be the SEC's first time advancing targeted legislation for the crypto industry. An SEC spokesperson announced the cancellation citing "unforeseen scheduling issues" without announcing a new date. Meanwhile, the U.S. Senate adjourned last Saturday, failing to advance the Clarity Act, and data from prediction market Myriad shows the probability of the bill being signed into law within 2026 is only 20%. Notably, the Commodity Futures Trading Commission (CFTC) will still hold the first meeting of the Innovation Advisory Committee as scheduled on August 20, with agenda items covering "crypto regulatory evolution" and artificial intelligence, but this meeting will only produce recommendations and does not carry legislative authority.
: Fox Business crypto reporter posted on X that BlockchainAssn, a crypto industry organization, has filed an amicus brief supporting Custodia Bank's petition to the U.S. Supreme Court, urging the Court to review whether regional Federal Reserve banks have the authority to deny eligible state-chartered banks access to master accounts. The organization warned that lower court rulings in favor of the Federal Reserve grant the central bank broad power to disqualify industries or companies it does not recognize from accessing banking services, effectively determining which state-chartered banks are permitted to operate. Meanwhile, the Federal Reserve Bank of Kansas City has been granted an extension until September 11 to respond to Custodia's petition.
Odaily News: Prediction market platform Polymarket is undergoing an organizational upgrade in preparation for the upcoming fall trading peak, bringing in several new executives, restructuring its marketing system, and strengthening its compliance team in preparation for U.S. market expansion. Polymarket recently hired Travis VanderZanden, founder of shared e-scooter company Bird and former Uber and Lyft executive, as Chief Growth Officer, responsible for the company's growth strategy and marketing system development. VanderZanden stated that the prediction market is at a critical stage of rapid development, and the company needs to further improve its management team to support long-term growth.This adjustment comes as Polymarket faces regulatory scrutiny. Previously, the U.S. Commodity Futures Trading Commission (CFTC) had launched an investigation into its business model, related to the platform's marketing activities and promotional partnership policies. Sources say Polymarket has restructured its marketing department, updated rules for promotional partners, and provided relevant training to employees, while also hiring consulting firm AlixPartners to oversee whether content published by partners complies with the new standards.Meanwhile, Polymarket continues to strengthen its compliance and risk management capabilities for its U.S. operations. The company's U.S. trading platform has added several new executives in regulatory and risk roles, including former Robinhood executive Megan McGrath as Chief Compliance Officer for the U.S. platform, former Coinbase executive Natalie Oblazny overseeing U.S. regulatory affairs, former FBI and Coinbase employee Shana Bautista as Head of Global Investigations and Intelligence, and former Nasdaq executive Paul Jordan as Chief Risk Officer for the U.S. platform.Polymarket's U.S. trading platform went live in May this year and operates independently from its international business. With the NFL new season kicking off in September and the U.S. midterm elections approaching in November, the market expects a new wave of growth in prediction market trading activity.Previously, Polymarket had already become one of the representative platforms in the prediction market space and continues to seek expanded fundraising. According to reports, the company is currently seeking a new funding round at a valuation exceeding $20 billion. As institutional investors and professional traders gradually enter the prediction market, Polymarket is attempting to transform from a retail-facing, betting-style prediction platform into a more mature financial market infrastructure. (CNBC)
According to Eleanor Terrett, the U.S. Senate has delayed the procedural vote on the Clarity Act, securing a buffer period until September for the relevant legislative process. Meanwhile, the U.S. Securities and Exchange Commission (SEC) is preparing to advance its own proposal for cryptocurrency issuance rules.
Odaily News: Goldman Sachs data shows that global hedge funds have increased their stock holdings for the second consecutive week, reversing the significant reduction in risk exposure seen in late July, indicating that institutional investors' risk appetite is warming up.The report shows that overall hedge fund trading activity has risen to its highest level in seven weeks, with long buying volume exceeding short selling volume at a ratio of 1.4:1. Meanwhile, single-stock trading has seen its first net buying in nearly a month, suggesting that fund managers are beginning to re-establish exposure to individual stocks.In terms of sector allocation, the materials sector has emerged as one of the areas with the strongest capital demand, experiencing the largest short-covering rally in nearly two years. Goldman Sachs noted that the recent improvement in market sentiment has led to the rapid unwinding of previously established short positions, further boosting related sector performance.Earlier, hedge funds significantly reduced their stock positions in late July due to concerns over economic growth, heightened market volatility, and policy uncertainty. This consecutive buying spree suggests that some institutions are once again betting on a rebound in risk assets.