Guotai Junan Launches Crypto Trading Services in Hong Kong
Guotai Junan International officially launched cryptocurrency trading services in Hong Kong on August 28, covering mainstream coins including BTC, ETH, AVAX, LINK, and SOL. Professional investors can also trade XRP, USDT, and USDC, with 24/7 trading support. The account opening process is simple, and idle funds can be invested in the "Hui Cai Bao" plan for flexible allocation.
In June of this year, Guotai Junan officially received approval from the Hong Kong Securities and Futures Commission to upgrade its Type 1 securities trading license to provide virtual asset trading services, including cryptocurrency and stablecoin trading, as well as related consulting and product distribution.
Hyperliquid XPL Market Manipulated by Whales, Leading to High Liquidations
The XPL pre-launch token market on the decentralized derivatives platform Hyperliquid experienced severe volatility this week. On August 26, multiple whale accounts established large long positions under extremely thin liquidity, with one account injecting $5 million, pushing the XPL price from $0.60 to $1.80 within minutes, triggering a chain liquidation of short positions, with approximately $16 billion in open contracts liquidated, 80% of which were short losses. The whale accounts made about $16 million in profit within a minute, with some users facing losses of up to $4.59 million per account.
Hyperliquid stated that its protocol and liquidation mechanism were functioning normally, and the incident was limited to XPL positions, with no bad debts. To reduce risk, the platform introduced a price cap mechanism and external price data to enhance market stability. This incident occurred just five months after the Jelly token manipulation event on Hyperliquid.
21Shares Submits SEI Spot ETF Application, Interest in Alternative Blockchain Asset ETFs Rises
21Shares submitted an S-1 to the U.S. SEC to issue a spot SEI ETF, tracking SEI using the CF Benchmarks price index, with custody proposed to be handled by Coinbase. The prospectus retains the statement of "explorable staking yields"; this application runs parallel to a previous proposal by Canary Capital, reflecting the increasing scrutiny of alternative blockchain asset ETFs in the U.S. market.
Eliza Labs Accuses X of Abusing Market Dominance and Files Antitrust Lawsuit
AI agent platform startup Eliza Labs filed an antitrust lawsuit in the U.S. District Court for the Northern District of California, accusing Elon Musk's X Corp of obtaining its proprietary technology under the guise of "collaborative discussions," only to suspend its platform account and launch "knockoff" products. It is alleged that X forced Eliza to pay a monthly licensing fee of $50,000 before kicking it out, harming its customer relationships and growth prospects. Eliza emphasized that this is an exclusionary practice and does not constitute content moderation protected under Section 230 of the Communications Decency Act. The case is currently under review.
Pyth Authorized by U.S. Department of Commerce to Verify U.S. Government Economic Data on Blockchain
The U.S. Department of Commerce announced a partnership with Pyth Network to verify and distribute official U.S. macroeconomic data (such as GDP) via blockchain. Pyth will initially provide quarterly GDP data for the past five years and plans to expand to more economic datasets. This move aims to enhance data transparency and verifiability, supporting the use of smart contracts in decentralized finance (DeFi) applications.
NVIDIA Reports Q2 Revenue of $46.743 Billion for Fiscal Year 2026, Up 6% Quarter-over-Quarter
NVIDIA released its Q2 financial report for fiscal year 2026, achieving revenue of $46.743 billion, a 6% increase quarter-over-quarter. The data center business and AI accelerators remain the main driving forces, while the Gaming sector performed steadily. The company expects revenue in the next quarter to continue to be driven by AI demand, emphasizing supply chain and capacity optimization to maintain its leading position in the GPU and AI chip market. This report highlights NVIDIA's ongoing growth potential in the generative AI and enterprise AI computing markets.
Donald Trump Jr. Invests Tens of Millions in Polymarket and Joins Advisory Board
Donald Trump Jr. invested tens of millions of dollars in the prediction market platform Polymarket through his venture capital firm 1789 Capital and joined its advisory board. Polymarket's recent valuation exceeded $1 billion, and it acquired the derivatives exchange QCEX, obtaining CFTC approval. Donald Trump Jr. previously served as a strategic advisor for Polymarket's competitor Kalshi. The investment indicates rising interest in prediction markets from the political and financial sectors. Currently, U.S. users cannot access Polymarket, but the regulatory environment is gradually easing, potentially opening the market in the future.
Monex Group in Japan Considers Issuing Yen-Linked Stablecoin to Enhance Digital Financial Competitiveness
Oki Matsumoto, Chairman of Tokyo-based financial services company Monex Group, stated that the group is considering launching a stablecoin pegged to the yen to maintain competitiveness in the digital finance sector. Reports indicate that the stablecoin will be backed by assets such as Japanese government bonds and will be redeemable 1:1 with the yen, primarily used for international remittances and corporate settlements. Monex plans to leverage its cryptocurrency exchange Coincheck and Monex Securities brokerage to advance this project.
CFTC Opens Path for U.S. Citizens to Access Offshore Crypto Exchanges
The U.S. Commodity Futures Trading Commission (CFTC) announced that non-U.S. registered cryptocurrency trading platforms can register under the "Foreign Board of Trade (FBOT)" framework to provide legal trading access for U.S. citizens. This update aims to restore trading activity that had previously declined due to regulatory uncertainty and support the integration of traditional and digital asset markets.
Eric Trump to Attend Metaplanet Shareholders Meeting
Eric Trump plans to attend the shareholders meeting of the Japanese listed company Metaplanet on September 1, having been appointed as a member of its strategic advisory board. Eric Trump's involvement is seen as a significant move for the company to expand its international market and attract global investors. The shareholders meeting is expected to discuss the company's future strategy and overseas expansion plans, marking an important point in observing the company's global layout.
Tether to Terminate Support for USDT on Certain Blockchains, Optimize Resource Allocation
Tether will terminate support for USDT on Omni, Bitcoin Cash SLP, Kusama, EOS, and Algorand networks starting September 1. The company stated that this move aims to optimize the overall infrastructure layout, align with community usage trends, and concentrate development resources on more active and higher-value blockchain networks. Tether emphasized that users holding USDT on the affected networks need to migrate their assets in advance to ensure fund safety.
Token Unlocking
dydx will release 4.17 million DYDX tokens on September 1, accounting for approximately 0.59% of the current circulating supply.
Sui will release 44 million SUI tokens on September 1, accounting for approximately 1.25% of the current circulating supply.
Ethena will release 40.63 million SUI tokens on September 2, accounting for approximately 0.64% of the current circulating supply.
IOTA will release 15.16 million IOTA tokens on September 3, accounting for approximately 0.42% of the current circulating supply.
Immutable will release 24.52 million IMX tokens on September 5, accounting for approximately 1.27% of the current circulating supply.
Moca Network will release 2.43 million MOCA tokens on September 5, accounting for approximately 0.06% of the current circulating supply.
Related: DEX Market Whales Cause Chaos: Hyperliquid XPL Soars, Shorts Get Liquidated
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