Encryption Industry Update Brief

Regulation and Macroeconomic Environment

A subsidiary of a securities company has obtained a virtual asset trading service license in Hong Kong.

The Hong Kong Securities and Futures Commission has approved a wholly-owned subsidiary of a securities company to obtain a Type 3 license related to virtual assets, allowing it to provide virtual asset trading services through a comprehensive account arrangement. Currently, the types of licenses related to virtual assets in Hong Kong include operating trading platforms, managing investment portfolios, providing trading services, offering advice, and acting as an introducing agent, among others.

A publicly listed electric vehicle company accepts payments in Bitcoin and other encryption currencies.

A publicly listed electric vehicle company announced that it will now accept cryptocurrencies, including Bitcoin, for the purchase of its commercial electric vehicles under its brand.

Bhutan's Bitcoin reserves reach 1.3 billion USD, accounting for nearly 40% of GDP.

Bhutan began mining Bitcoin in 2020 and currently holds an amount of $1.3 billion, which accounts for about 40% of the country's GDP. Bhutan has become the third largest country in terms of government-held Bitcoin reserves, and its hydroelectric-based mining strategy has attracted attention.

The Hong Kong authorities have renamed "virtual assets" to "digital assets".

The Hong Kong government published the "Hong Kong Digital Asset Development Policy Declaration 2.0", officially changing the term "virtual assets" to "digital assets". The industry believes that the new name has a broader coverage, including the tokenization of existing financial products, and presents a more positive image.

A senior spokesperson of the ruling party in India called for the launch of a Bitcoin reserve pilot.

A senior spokesperson for India's ruling party has called for India to launch a pilot project for Bitcoin reserves, stating that this is a strategic move towards economic resilience.

The US encryption market structure bill is expected to be completed before September 30.

The chairman of the U.S. Senate Banking Committee stated that the encryption market structure bill will be completed by September 30. This timeline is later than the previous target of August, but earlier than the expected deadline by the end of the year.

Industry Perspectives

CTO of a payment company: is advancing multiple acquisitions and will upgrade encryption functions.

The Chief Technology Officer of a well-known payment company revealed that the company is advancing multiple acquisition deals, involving various stages from early to late. At the same time, the technical team is upgrading its blockchain, planning to enhance "programmability" and launch lending protocols, but will remain focused on the characteristics of payment.

The CEO of a trading platform: The company is buying more Bitcoin every week.

In response to the suggestion to "establish a suitable Bitcoin vault," the CEO of a large cryptocurrency exchange stated: "We are buying more Bitcoin every week."

Project Updates

A certain exchange will launch a new token, and points can be used to claim airdrops.

A certain trading platform announced that it will be the first to launch the new token Moonveil(MORE). Users holding at least 170 platform points can claim an airdrop of 400 MORE tokens within 24 hours after trading begins.

An investment institution profits more than 4 times through staking rewards.

It is reported that an investment institution invested approximately 20 million USD in Celestia, and has sold tokens worth over 80 million USD solely through staking rewards, achieving more than 4 times the return.

A certain encryption trading platform announced its closure and filed for bankruptcy.

A cryptocurrency trading platform announced on its official website that it will soon shut down and file for bankruptcy due to previous hacker attacks and other issues. More information will be released shortly.

Data Insights

The Ethereum founder's address sells a large amount of tokens.

Monitoring shows that Ethereum founder Vitalik's address sold 20 trillion DOG tokens for 4.43 ETH, worth about $10,800.

Bitcoin ETF continues to see net inflows

Data shows that the total net inflow of Bitcoin spot ETFs yesterday was $228 million, marking 13 consecutive days of net inflows. Among them, a certain ETF had a net inflow of $164 million in a single day, the highest amount. Currently, the total net asset value of Bitcoin spot ETFs has reached $133.5 billion.

Early Bitcoin miners have an increased willingness to hold coins.

Analysis shows that miners from the "Satoshi Nakamoto era" will only sell 150 BTC in 2025, a significant decrease compared to 10,000 BTC in the same period of 2024. The current miner reserve scale is now close to the level when Bitcoin reached its historical high last November.

Investment and Financing Dynamics

Multiple AI and encryption projects have completed financing.

• The AI platform OpenRouter, founded by former OpenSea co-founder, has completed a $40 million Series A funding round.
• Bitcoin financial platform Castle completes $1 million seed pre-round financing
• Encryption Trust Infrastructure Inference Labs completes $6.3 million strategic financing
• The private equity tokenization platform Jarsy has completed a $5 million seed round financing.
• AI-driven global PEO platform Niural completes $31 million Series A funding.

Institutional Trends

Multiple institutions increase their holdings in encryption assets.

• A mining company raised $150 million to purchase ETH.
• Two institutions deposited 30 million USDC into HyperLiquid and purchased HYPE tokens.
• Bitcoin Treasury Corporation was listed on the Toronto Stock Exchange and completed its first purchase of 292.8 BTC.
• A certain cloud computing company has proposed to acquire a Bitcoin mining company again.
• Bakkt submitted a $1 billion shelf registration application to the SEC, which may be used to purchase Bitcoin and other encryption currencies.
• LGHL completed its first purchase of 2 million USD HYPE tokens.