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The bidding event for HyperliquidX's USDH stablecoin reveals a shift in the power structure of the stablecoin market, highlights the conflict of interest between traditional issuers and decentralized protocols, and discusses potential solutions to the problem of liquidity fragmentation. Summary generated by Mars AI. This summary was generated by the Mars AI model, and the accuracy and completeness of the generated content are still in the process of iterative updates.
Pump.fun has attracted attention due to the listing of the PUMP token on Upbit and the surge in popularity of its livestream section. Several projects have rapidly increased their market capitalization through marketing campaigns and celebrity influence. Summary generated by Mars AI. The accuracy and completeness of the summary are still being iteratively improved by the Mars AI model.
A combination of Chinese and Western styles, everyone makes money together.
Investors are generally showing weak interest in Bitcoin Treasury (DAT) strategies, reflecting a saturated market demand and a rational return. Meanwhile, new altcoin DATs continue to emerge, but there is controversy within the industry regarding the prospects of such companies.
This article is an open letter from Bitget CEO Gracy Chen on the occasion of the company's seventh anniversary. Using the metaphor of the "nonexistent seventh gear" in motorcycle racing, she explains Bitget's spirit of pursuing breakthroughs and moving forward at full speed. In the letter, Gracy announces the new concept of the "Universal Exchange (UEX)" and defines it as the future form of exchanges.
When a platform's profits are built on the widespread losses of its participants, such a model is destined to be nothing more than a fleeting speculative frenzy.
- 16:45Chiliz Group acquires 51% stake in OG Esports, OG co-founder returns to managementChainCatcher reported that Chiliz Group has announced the acquisition of a 51% stake in the globally renowned esports club OG Esports, officially taking control of the team. The group plans to expand the team, broaden its commercial footprint, and strengthen fan engagement. Following this acquisition, OG co-founder Xavier Oswald will serve as CEO, while Johan “n0tail” Sundstein and Sébastien “Ceb” Debs will launch new strategic projects to further solidify OG’s competitive foundation. Founded in 2015, OG was the first team to win back-to-back championships at The International Dota 2 tournament, and later expanded into CS, Honor of Kings, and MLBB. The $OG fan token, launched in 2020, once surpassed a market capitalization of 100 millions USD. With the completion of the acquisition, Socios.com will become the exclusive platform for the $OG fan token, which will serve as a flagship case for the fan economy, exploring more use cases such as ticketing, merchandise, venue rights, and revenue sharing. Chiliz Group stated that it will leverage its global network, which covers more than 80 top sports organizations, to help OG expand into international markets and drive the fan token ecosystem into its second phase.
- 16:23Galaxy Digital plans to launch a multi-chain tokenized money market fundJinse Finance reported that Galaxy Digital, the digital asset investment firm led by Mike Novogratz, is preparing to launch a tokenized money market fund, which will be rolled out on three major blockchains: Ethereum, Solana, and Stellar, and is expected to launch in the coming months. According to sources familiar with the matter, Anchorage Digital will serve as the fund’s custodian. With this move, Galaxy Digital aims to bring more crypto-native products to the market, complementing tokenized funds launched by traditional financial institutions such as BlackRock’s BUIDL (with a market value of approximately $2.2 billions) and Franklin Templeton’s BENJI. A Galaxy Digital representative declined to comment on the fund. The fund will focus on providing instant liquidity through tokenization technology and will draw on experience from existing products to optimize user participation.
- 16:20Bank of America Survey: GBP Becomes the Most Overvalued Currency in Nearly a DecadeJinse Finance reported that the Bank of America's September Global Fund Manager Survey shows that the British pound is considered the most overvalued currency in the past decade. According to the survey, currently 12% of investors (net proportion) believe that the pound is overvalued, whereas a month ago, a net 3% of investors thought the pound was undervalued, indicating a significant reversal in valuation expectations. This means that the current degree of overvaluation of the pound has reached its peak since December 2015. Data from the London Stock Exchange Group (LSEG) shows that as of this month (the period covered by the survey), the pound-to-dollar exchange rate has risen by about 1%; since the beginning of this year, the pound has appreciated by a total of 9% against the dollar.