Mars Finance takes you through this week's hot topics and recommended content:
BlackRock surpasses Grayscale to become the largest digital asset fund management company in terms of total assets under management
James Butterfill, head of research at CoinShares, disclosed on X that BlackRock recently surpassed Grayscale to become the largest digital asset fund management company in terms of total assets under management.
As of August 15, BlackRock's crypto ETF had $22 billion in assets under management, and Grayscale's crypto ETF had $20.7 billion in assets under management.
Trump returns to Twitter and has a live conversation with Musk at X Space
On August 12, former US President Trump posted on X (formerly Twitter) for the first time in three years and said, "They want to shut me up, but I will never shut you up through them. They are not coming for me, they are coming for you. I just happened to be in their way, and I will never give in. We will make America great again! TrumpOnX" The next day, Musk and Trump had a live conversation on the X platform. At the beginning of the conversation, X suffered a large-scale DDOS attack. This Space lasted nearly three hours, and more than 60 million people listened online. The conversation discussed issues such as inflation, immigration, and AI, but did not mention cryptocurrency or Bitcoin. On the day of the conversation, Trump and Musk's concept Meme coin "Yeah" rose to a maximum of $0.00192 20 minutes after the token was deployed, and the trading volume reached $10.28 million in 2 hours. Then it started to fall.
Related reading: "Over 60 million people listened, what did Musk and Trump talk about?"
US CPI is lower than expected and returns to the "2-digit"; the Federal Reserve may cut interest rates by 25 basis points in September
On August 14, the U.S. July unadjusted CPI annual rate was 2.9%, falling for the fourth consecutive month and returning to the "2-digit" for the first time since March 2021. The market expected it to be 3%. The U.S. July unadjusted core CPI annual rate was 3.2%, falling for the fourth consecutive month and the lowest level since April 2021, in line with market expectations.
Nick Timiraos, the "Fed mouthpiece," later wrote that the July CPI data cleared the way for the Fed to start cutting interest rates at its next meeting. As the labor market has recently shown signs of potential weakness, the debate at the Fed's September meeting will focus on whether to cut interest rates by 25 basis points in the traditional way or by a larger 50 basis points. On August 15, futures traders raised the probability of a 25 basis point rate cut by the Fed in September from 65% on Wednesday night to 74.5%.
44% of institutional investors increased their holdings of Bitcoin spot ETFs in the second quarter
About 66% of institutional investors held or increased their holdings of bitcoin through U.S. spot exchange-traded funds in the second quarter, according to Bitwise.
According to 13F filings with the U.S. Securities and Exchange Commission, 44% of asset managers increased their Bitcoin ETF positions in the second quarter, while 22% held steady. Only 21% reduced their positions, and 13% exited.
“That’s a pretty good result, on par with other ETFs,” said Matt Hougan, chief investment officer at Bitwise.
Trump's second son revealed the new crypto project as "digital real estate", saying it is collateral that anyone can obtain
According to Decrypt, Trump's second son Eric Trump revealed that the new crypto project is "digital real estate."
“It’s fair,” Eric Trump said. “It’s collateral that anyone can get and instantly access, and I don’t know if people realize what a game-changer this is for the banking and financial world. I hope we can help change that.”
OKX will launch DOGS spot trading
According to the official announcement, OKX will launch DOGS spot trading. The spot trading will be open at 20:00 (UTC+8) on August 20. It is reported that the image of DOGS is inspired by Spotty, the mascot designed by TON founder Pavel Durov for the Telegram community, which embodies the unique spirit and culture of the Telegram community.
Binance Labs Announces Investment in MyShell
On August 15, Binance Labs announced its investment in the decentralized AI ecosystem MyShell. MyShell is a decentralized AI ecosystem that allows everyone to build, share and own AI applications. MyShell has four pillars: an open source model layer, an AI creation platform, an AI app store, and a value incentive network. It is reported that MyShell has more than 60,000 creators, some of whom have taken the lead in trying to make profits through the AIpp Store (MyShell's on-chain trading market). The transaction volume of the top AIpp reached US$300,000. A rough calculation shows that the creator's transaction fee income and AIpp floating profit have accumulated to tens of thousands of dollars. The early investors of the top AIpp have increased by more than 10,000 times, and currently still have a floating profit of 3,000 times. MyShell has now become the only ecosystem in the crypto field with rich scenarios, including AI raw pictures, videos, games, personal assistants and other diverse scenarios, and the number of registered users has exceeded three million.
After a decade of running, Mt. Gox creditors may be nearing the end of repayment
On August 14, according to Arkham Intelligence data, a wallet that received more than $2 billion in Mt. Gox bitcoins transferred most of the funds to another wallet on Tuesday. After confirming that what appeared to be a test transaction was completed on Tuesday morning, Arkham speculated that the wallet may belong to the cryptocurrency exchange BitGo, which may mean that the Mt. Gox incident is about to enter its final stage. Since the collapse of Mt. Gox, creditors have experienced a long wait of 10 years. For most of July this year, Mt. Gox transferred billions of dollars worth of bitcoins to designated cryptocurrency trading platforms, including Bitbank, Kraken, Bitstamp and SBI VC Trade. These trading platforms are responsible for distributing these bitcoins to Mt. Gox creditors.
Former TON Foundation members founded TON Ventures with an initial scale of US$40 million
On August 14, it was reported that former TON Foundation members Ian Wittkopp and Inal Kardan founded TON Ventures with an initial size of $40 million. TON Ventures mainly invests in startups within the TON ecosystem, focusing on areas such as decentralized finance, games, advertising, marketing, and regulated financial products. Wittkopp said that the size of the $40 million fund may increase if more partners are added in the future. TON Ventures currently supports more than a dozen startups including Catizen, Tradoor, and Evaa Protocol. The fund's average investment is $500,000 or less, but it will also participate in late-stage "strategic" transactions such as large agreements. The fund is expected to be fully deployed within a year.
Related reading: "Former TON Foundation executive launches $40 million TON Ventures fund"
Arthur Hayes: The alt season will come after Bitcoin and Ethereum break through $70,000 and $4,000 respectively
On August 13, BitMEX co-founder Arthur Hayes said in his latest blog post that Yellen will inject at least $301 billion and up to $1.05 trillion between now and the end of the year. This will create a brilliant bull market for all risk assets, including cryptocurrencies, before the election. Bitcoin's next stop will be $100,000. And after Bitcoin and Ethereum break through $70,000 and $4,000, respectively, the alt season will return.
Related reading: " Arthur Hayes' new article: The Fed's treasury, Yellen's choice, and the schedule of the crypto bull market "
This week's hot articles
DePIN Overview: Exploring the Current State and Eight Emerging Projects
DePIN stands for Decentralized Physical Infrastructure Network. It encourages users to share personal resources through token incentives to build infrastructure networks, including storage space, communication traffic, cloud computing, energy and other fields. The market value of DePIN has exceeded 20 billion US dollars, and it is expected to grow 20 times in the future. DePIN has a wide distribution of nodes around the world, with a total of 18 million devices and diverse sources of income, but revenue growth has not kept pace. Mars Finance has reviewed the eight hot projects since 2024 to reveal how these cutting-edge technologies are developing in the DePIN field. The DePIN project improves capital allocation efficiency and reduces maintenance costs through cryptographic incentive mechanisms, while mobilizing resources in a decentralized manner to provide more competitive services and products. Although facing regulatory risks, DePIN's innovation momentum and development potential are unstoppable and will continue to move forward.
Grayscale recently launched the MKR crypto trust fund based on MakerDao, and MKR rose by more than 4%
Grayscale Investments launches Grayscale MakerDAO Trust Fund to provide investors with exposure to MKR. The fund aims to reduce DeFi's reliance on traditional financial infrastructure by providing a permissionless, decentralized and open stablecoin system. The fund is now open to qualified individual and institutional investors, but investors should be prepared to take risks for the long term. Grayscale is the world's largest crypto asset manager with a proven track record and expertise. For more information, follow @Grayscale or visit grayscale.com.
Bitcoin ETF holdings surge, Satoshi Nakamoto's legend is about to be surpassed!
U.S. Bitcoin ETF holdings are increasing by about 37,510 BTC per month and will soon exceed Satoshi Nakamoto's estimated holdings. Currently, ETFs hold 909,700 BTC, worth about $55.1 billion, and are expected to exceed Satoshi Nakamoto's assets by the end of next year. BlackRock's iShares Bitcoin Trust ETF is the most popular, with inflows reaching $20.33 billion. In total, ETFs have surpassed Satoshi Nakamoto's total Bitcoin holdings, with net inflows totaling $17.35 billion across 11 Bitcoin ETFs since January.
This article reviews the seven major meme coins of Harris Concept. Who will become the leader?
After Harris received $310 million in campaign funds, the probability of her winning the 2024 US presidential election rose to 52%, with more than $60 million in bets. She went from being Biden's deputy to a rising star in the Democratic presidential election. Odaily Odaily counted several meme coins related to Harris, including KAMA, HARRIS, HERRIS, etc. The prices of these coins fluctuate greatly and the investment risks are high. Investors are advised to wait and see or adopt a small amount of ambush or buy low and sell high strategies. In general, investing in concept coins is a high-risk game, and investors with weak risk resistance are advised to participate with caution.
El Salvador receives over $1.6 billion in investment, will the "Bitcoin City" be reopened after a two-year delay?
El Salvador's President Bugelei has promoted Bitcoin-related policies, including a citizenship by investment program and the issuance of Bitcoin Volcano bonds. Turkish company Yilport Holding will invest $1.62 billion in two seaports in El Salvador, one of which will become Bitcoin City. The government continues to purchase Bitcoin every day and currently holds 5,840.76 Bitcoins, worth about $344 million. The Salvadoran Bitcoin Office has partnered with mempool to launch a website to track the government's Bitcoin reserves. These initiatives have made people look forward to the revival of Bitcoin City.
Last week's Bitcoin and Ethereum ETF data review
Last week, Bitcoin spot ETF holdings increased by $32.4 million, while Ethereum spot ETF holdings decreased by $14.1 million
According to CoinGlass data, last week, Bitcoin spot ETF holdings increased by $32.4 million in BTC. Among them, there was only a cumulative outflow on August 14, with a total of 1,340 BTC flowing out of the fund.
Ethereum spot ETF reduced its holdings of ETH worth $14.1 million. The Ethereum spot ETF has sold 5,690 ETH since August 12, with three trading days rising and two trading days falling.
