Today's news tips:
BTC hits $124,000, a new all-time high
The Publicity Department of the Guizhou Provincial Commission for Discipline Inspection and Supervision stated that the rumor that Jing Yaping used a government server to mine 327 bitcoins is false.
Bitcoin's market capitalization surpasses Google, rising to fifth place in global asset market capitalization
Tom Lee: Standard Chartered Bank's increase in ETH's year-end price forecast to $7,500 may be too low
Coinbase Adds Useless Coin (USELESS) to its Listing Roadmap
SpaceX's BTC holdings exceed $1 billion
Circle issued an additional 5.5 billion USDC on Solana in the past month
Ethereum spot ETFs saw a net inflow of $729 million yesterday, the second highest in history
Macro
Linekong Interactive disclosed its crypto asset holdings and launched a $100 million asset management plan; its stock price closed up 10.14%.
Linekong Interactive Group (HKEX: 8267) announced today that its crypto asset holdings, managed by its crypto business unit, LK Crypto, include 193.08 Bitcoin (average price approximately $73,015), 1,707.63 Ethereum (average price approximately $3,155), and 14,057 Solana (average price approximately $165). Furthermore, the group plans to launch a $100 million asset management and fundraising program, focusing on high-potential crypto assets, Web3 infrastructure, and high-quality global equity assets, and intends to attract external investors. According to the relevant website, Linekong Interactive's stock price closed up 10.14% at $0.76. Earlier news broke that Linekong Interactive established the LK Crypto division to accelerate its Web3 and Reliable Web Access (RWA) development, sending its stock price up 25.5% in the past 24 hours.
SpaceX's BTC holdings exceed $1 billion
Arkham tweeted that the value of BTC held by Musk's company SpaceX has exceeded $1 billion. SpaceX has held Bitcoin since January 2021 and currently holds a total of 8,285 BTC.
The Publicity Department of the Guizhou Provincial Commission for Discipline Inspection and Supervision stated that the rumor that Jing Yaping used a government server to mine 327 bitcoins is false.
According to China Newsweek, a staff member from the Publicity Department of the Guizhou Provincial Commission for Discipline Inspection and Supervision stated that the news that Jing Yaping had mined 327 bitcoins using government servers was "a rumor." According to their understanding, Jing Yaping's case does not involve Bitcoin. Recently, news that a fallen female official had mined 327 bitcoins (worth approximately 150 million yuan) has garnered considerable attention. Online information circulating suggests that the "mining" official is Jing Yaping, the former director of the Guizhou Provincial Big Data Development and Management Bureau. Multiple online video feeds indicate that the news originated with a southwestern media outlet. When reporters contacted the outlet, a staff member stated that the news was not original and "has now been deleted."
Bitcoin's market capitalization surpasses Google, rising to fifth place in global asset market capitalization
According to 8marketcap data, Bitcoin's market capitalization surpassed Alphabet (Google) to reach US$2.459 trillion, rising to fifth place in the world's mainstream assets.
Google: New Google Play Store rules will not restrict the listing of unregistered non-custodial wallets
According to The Block, there were rumors that the Google Play Store planned to ban unregistered, non-custodial crypto wallets in several countries, including the US and the UK, starting in October. Google issued a clarification statement on X, stating that it has no intention of restricting non-custodial wallets. "Non-custodial wallets are not covered by the Google Play cryptocurrency exchange and software wallet policy. We are updating our Help Center to clarify this."
Viewpoint
Tom Lee: Standard Chartered Bank's increase in ETH's year-end price forecast to $7,500 may be too low
Regarding Standard Chartered Bank's upward revision of its year-end ETH price forecast to $7,500 and $25,000 by 2028, BitMine's new chairman, Tom Lee, suggested that Standard Chartered's year-end target may be too low. Previously, Lee stated in an interview that Ethereum is becoming the blockchain platform of choice for Wall Street institutions, and that its native token, ETH, is currently severely undervalued. He predicted that ETH would break through $4,000 in the short term and reach a range of $10,000-15,000 by the end of the year.
Mizuho Securities: Circle (CRCL) base stock price is $84 and could even fall to $40
According to The Block, Mizuho Securities' equity researchers say Circle stock faces medium-term risks, including slower-than-expected USDC (USDC) growth, rising distribution costs, and potential Federal Reserve rate cuts. The analysts predict a baseline share price of $84 for CRCL, with a bearish forecast suggesting a price of $40 by 2027, lower than the company's closing price of $153.16 on Wednesday, the day after the company released its quarterly earnings report. Notably, Bernstein analysts maintained their $230 price target. The analysts believe there are three possible reasons for the stock's unexpected underperformance: First, the gap between USDC's "dream" and "reality" regarding issuance is widening. Although the stablecoin has seen 6% growth so far this quarter amid growing interest in cryptocurrencies, this still falls short of the company's long-term compound annual growth rate (CAGR) of 40%. Coupled with rising issuance costs, "from 39% of the reserve pool in 2022 to 61% in 2024... reaching 64% in the second quarter," the analysts note that Circle's profit margins appear to be further compressed. With the introduction of the GENIUS Act, increased competition could accelerate this process. Several major institutions have already expressed interest in launching or introducing stablecoins, and Circle's largest competitor, Tether, is developing plans to re-enter the US market. Finally, analysts stated, "The cooling CPI is good news for the economy, but bad news for CRCL." The US Department of Labor reported on Tuesday that the US Consumer Price Index rose 2.7% year-on-year in July, slightly below expectations, fueling expectations of a possible interest rate cut by the Federal Reserve.
Project News
Binance: Hold at least 200 Binance Alpha Points to claim 111 OVL tokens airdrop
According to an official Binance announcement, Overlay Protocol (OVL) Alpha trading will begin at 3:30 PM (UTC+8) on August 14th. After trading begins, users holding at least 200 Binance Alpha Points will be eligible to claim an airdrop of 111 OVL tokens. This airdrop will be distributed on a first-come, first-served basis. The minimum score will automatically decrease by 15 points every hour until the event ends. Claiming the airdrop will cost 15 Binance Alpha Points. Users must confirm their claim within 24 hours on the Alpha event page; otherwise, they will forfeit the airdrop.
Binance: Alpha Points of 224 or More Qualifying for Participating in Cherry AI (AIBOT) TGE
According to Binance’s official announcement, the Alpha points required to participate in Cherry AI (AIBOT) TGE are 224, and participating in the event will consume 15 points.
Insider: Crypto wallet MetaMask may release details of stablecoin mUSD this week
According to CoinDesk, sources familiar with the matter revealed that MetaMask is likely to release details of its dollar-pegged stablecoin, mUSD, soon, possibly as early as this week. The stablecoin, mUSD, was previously disclosed in a pre-released governance proposal that was quickly deleted last week. MetaMask, which claims to have over 30 million monthly active users, is currently issuing its stablecoin with the help of Bridge. Bridge, a company that helps businesses integrate stablecoin payment channels and the stablecoin issuance protocol M^0, was acquired by fintech giant Stripe earlier this year. The source stated that in addition to working closely with Bridge on the mUSD stablecoin, MetaMask has also enlisted the help of Blackstone, a traditional financial alternative asset management firm, to provide custody and fund management services for its tokens.
Coinbase Adds Useless Coin (USELESS) to its Listing Roadmap
According to the official announcement, Coinbase has added Useless Coin (USELESS) to its listing roadmap.
Important data
Circle issued an additional 5.5 billion USDC on Solana in the past month
According to Lookonchain analysis, Circle has issued an additional 5.5 billion USDC on Solana over the past month, indicating a significant influx of new funds into the market. Newly minted USDC is often seen as a significant catalyst for driving up the prices of major assets, such as ETH.
Ethereum saw $2.3 billion in inflows this week, while altcoins, with the exception of XRP and Solana, saw no significant inflows.
James Butterfill, head of research at CoinShares, noted that Ethereum saw continued growth in inflows this week, reaching $2.3 billion and bringing the total year-to-date inflows to $10.5 billion. Currently, with the exception of XRP and Solana, other altcoins have yet to see significant inflows. According to the latest data from CoinShares, Ethereum's assets under management (AUM) stands at $38.726 billion, far exceeding other cryptocurrencies.
A new wallet withdrew approximately $17.06 million in ETH and $1.55 million in WLD from Binance 8 hours ago.
According to Lookonchain monitoring, a newly created wallet 0xd537 withdrew 3,606 ETH (US$17.06 million) and 1.41 million WLD (US$1.55 million) from Binance 8 hours ago.
Bitcoin spot ETF saw a net inflow of $86.9145 million yesterday, marking the sixth consecutive day of net inflow
According to SoSoValue data, Bitcoin spot ETFs saw a total net inflow of $86.9145 million yesterday (August 13th, EST). The Bitcoin spot ETF with the largest single-day net inflow yesterday was the Ark Invest and 21Shares ETF ARKB, which saw a net inflow of $36.5789 million, bringing ARKB's total net inflow to $2.394 billion. The second largest daily inflow was the Fidelity ETF FBTC, which saw a net inflow of $26.7005 million, bringing FBTC's total net inflow to $12.068 billion. As of press time, the total net asset value of Bitcoin spot ETFs was $158.643 billion, with a net asset value ratio (market capitalization relative to the total Bitcoin market capitalization) of 6.48%, and cumulative net inflows reaching $54.757 billion.
Ethereum spot ETFs saw a net inflow of $729 million yesterday, the second highest in history
According to SoSoValue data, Ethereum spot ETFs saw a total net inflow of $729 million yesterday (August 13th, EST). The Blackrock ETF (ETHA) saw the largest daily net inflow, with $501 million, bringing ETHA's total net inflow to $11.307 billion. The second-largest inflow was the Fidelity ETF (FETH), with a daily net inflow of $155 million, bringing FETH's total net inflow to $2.951 billion. As of press time, the Ethereum spot ETF's total net asset value (NAV) was $29.719 billion, with a 5.22% ETF NAV ratio (market capitalization as a percentage of Ethereum's total market capitalization), and cumulative net inflows to $12.088 billion.
Ark Invest's multiple funds purchased approximately 2.53 million shares of BLSH, valued at approximately $172 million.
According to Ark Invest Daily data, Cathie Wood's Ark Invest funds bought Bullish (BLSH) shares. ARKK bought 1,714,522 shares, ARKW bought 545,416 shares, and ARKF bought 272,755 shares, for a total of 2,532,693 shares. Based on the closing price of $68, the holdings were worth approximately $172.2 million.
Compound's lead investor, Bain Capital Ventures, is suspected of selling 349,000 COMP tokens.
According to on-chain analyst Yu Jin, Bain Capital Ventures transferred 349,000 COMP (US$18.85 million) to an institutional trading platform nine hours ago. Currently, 87,250 COMP (US$4.73 million) has been transferred to Binance, OKX, Bybit, and Gate. Bain Capital Ventures is one of the lead investors in Compound, and these COMP were received from Compound's deployment address five years ago.
El Salvador's Bitcoin purchases netted $66 million in profits, a 115% return.
According to Lookonchain, Bitcoin surpassed $124,000, setting a new all-time high. Since November 18, 2022, El Salvador has purchased 1 BTC per day, buying 1,000 BTC at an average price of $57,793 (cost $57.29 million, current value $124 million), resulting in unrealized profits of $66 million (+115%).
BTC hits $124,000, a new all-time high
OKX market data shows that BTC hit $124,000, a record high, and is currently trading at $123,872 per coin.
Financing/Acquisition
Offchain Labs acquires smart account development team ZeroDev
Offchain Labs has announced the acquisition of ZeroDev, a smart account development team. ZeroDev currently supports over 5 million smart accounts across more than 30 chains, providing tools for numerous crypto projects, including ApeCoin, Conduit, and Crossmint. This acquisition aims to meet the growing demand for on-chain infrastructure and promote the on-chain migration of large institutional and consumer applications. The acquisition will work in conjunction with the company's previously launched universal intent engine to enable fast cross-chain transactions and a seamless user experience.
Shrapnel developer secures $19.5 million in funding, led by Gala Games
Seattle-based game studio Neon Machine announced the completion of a $19.5 million funding round, led by Gala Games with participation from Griffin Gaming Partners and Polychain Capital. The funds will support the global launch of its award-winning FPS game, Shrapnel, and its plans for the Chinese market, where closed beta testing will begin in 2025 and open beta testing in early 2026. This follows news that Neon Machine, the developer of the crypto-powered shooter Shrapnel, was in financial distress.
Institutional holdings
A suspected Bitmine address received 33,401 ETH today, worth approximately $158 million.
Ember's monitoring indicates that an address suspected to belong to Bitmine has received another 33,401 ETH worth approximately $158 million from two institutional platforms today. This group of 13 addresses has accumulated a total of 379,000 ETH worth approximately $1.8 billion since August 4th from institutional platforms such as FalconX, Galaxy Digital, and BitGo.
Publicly listed GameSquare plans to purchase $2.5 million in Animecoin ($ANIME) within a year.
GameSquare (GAME), a Nasdaq-listed media and entertainment company, announced a strategic partnership with the Animecoin Foundation. GameSquare will purchase $2.5 million worth of Animecoin ($ANIME) over one year and become the designated agent for Animecoin. This partnership aims to expand GameSquare's Web3 footprint, add high-potential digital assets to its crypto treasury, and promote Animecoin's influence in the global gaming and anime markets. GameSquare will also collaborate with Azuki on physical and digital products and showcase the Animecoin brand through FaZe Esports.
LIXTE Biotechnology plans to invest 25% of its treasury in Bitcoin and other cryptocurrencies
LIXTE Biotechnology Holdings, a biopharmaceutical company, announced today that its board of directors has approved a strategic capital allocation plan to invest up to 25% of its treasury in cryptocurrencies, including Bitcoin and other digital assets. The specific transaction size and timing will be determined based on market conditions and strategic considerations.
