Frax Founder Joins Stable as Chief Technology Officer

On August 29th, Matrixport was extended an invitation to attend the Bitcoin Asia Summit and took part in a panel discussion entitled "Asian Institutions Leading the Commencement of a New Bitcoin Era." During the event, Matrixport's COO, Cynthia Wu, pointed out that the digital asset investment is undergoing a substantial transformation. An increasing number of investors and corporate treasuries are regarding Bitcoin as a long-term asset allocation. They are continuously accumulating rather than engaging in short-term speculation. ETFs and stock tokens have made it more accessible for the general public to invest in digital assets, significantly reducing the learning curve. In just two years, the combined market value of these two has exceeded $260 billion and is approaching the current market capitalization of stablecoins. It can be anticipated that with the proliferation of stablecoins, the market capitalization of Bitcoin still has the potential to grow tenfold in the coming years.

On August 29th, on Hyperliquid (accessible via https://app.hyperliquid.xyz/join/NTOD), XPL continued to experience a surge and broke through $1.1. The current annualized funding rate stands at an extremely high 254%, with a 36% positive premium compared to $0.808 on Binance. Early yesterday morning, Hyperliquid implemented a new mark price calculation method for pre-market perpetual contracts. The mark price of the contract will utilize the standard mark price formula and be combined with the price of external pre-market perpetual contracts (if available).

August 29th. Based on the monitoring of OnchainLens, a newly established address withdrew 9.32 million WLD from Binance 11 hours ago, with a value of $8.85 million.

August 29th, Tim Beiko provided a summary of the 219th Ethereum All Core Developers Meeting (ACDE). The key points of this meeting are as follows: The Fusaka development network Devnet 3 is anticipated to be completed by today. The consensus layer team is actively working on resolving synchronization issues. Provided that everything proceeds smoothly, Devnet 5 will be launched. There are arrangements to deprecate Holesky a few weeks after Fusaka becomes active. A public post will be issued to explain the timetable and migration guide. The Gas Limit target is to reach 60 million prior to the Fusaka upgrade. Glamsterdam Update (in future meetings, the discussion on the PFI matter requested by clients will take precedence) and other matters.

August 29th. As per Decrypt, the Canadian firm Luxxfolio intends to raise $73 million for the expansion of its Litecoin (LTC) treasury strategy. Charlie Lee, the founder of Litecoin, joined its advisory board by the end of June. It is worthy of note that the company reported zero revenue during the second quarter. It had a net loss of $197,000, cash reserves of merely $112,000, and accumulated losses approaching $19 million.

On August 29th, as per Techinasia, the Indonesian investment platform Hypr is presenting global investors with the chance to get involved in Indonesia's local F&B (food and beverage) businesses via profit-sharing investments. Its initial portfolio company is DORé by LeTAO, a Japanese dessert brand renowned for its cheesecakes and having stores in Indonesia. Hypr employs NFT-based smart contracts to safeguard investors' profit-sharing rights. It validates through the ordering system data and distributes profits on a monthly basis. Hypr operates under the supervision of the Indonesian Financial Services Authority (OJK) and holds ISO 27001 and ISO 9001 certifications. By facilitating profit-sharing and smart contracts, Hypr lowers the investment threshold, enabling retail investors to participate in Indonesia's F&B market, which is projected to surpass $51.5 billion by 2024.