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Tracks company news, strategic changes, funding activities, and personnel adjustments across the blockchain and crypto industries, delivering a full-spectrum industry overview for our users.

Lei Jun Earns 7 Billion in One Day from CXMT's IPO? Xiaomi Executive Responds

On July 28th, Changxin Technology's stock price on the Sci-Tech Innovation Board experienced minor fluctuations. The company had made a historic market debut the previous day, becoming the first A-share stock to record a single-day trading volume exceeding 1 trillion yuan. This led to significant paper gains for its strategic investors. Among them, Xiaomi's wholly-owned subsidiary was allocated 18.24 million shares with an initial investment of approximately 158 million yuan. Reports estimated a paper profit of 717 million yuan for Xiaomi founder Lei Jun based on his shareholding structure. However, a Xiaomi executive clarified that this was a corporate investment and should not be conflated with personal wealth. Other major beneficiaries included Alibaba and Nio. Alibaba, an early investor, held nearly a 5% stake through two entities, with an estimated paper gain exceeding 160 billion yuan. Nio, participating in the strategic placement, also saw substantial paper returns. Additionally, state-owned banks and insurance institutions that invested in Changxin recorded potential gains in the hundreds of billions. Conversely, companies like Country Garden reportedly missed out on nearly 50 billion yuan in potential gains after divesting their stakes before the IPO due to liquidity pressures. The article notes that these are paper profits based on the listing price, as the allocated shares are subject to lock-up periods, and final realized gains will depend on future stock performance. An employee from Changxin Technology commented that ordinary staff remain focused on their salaries and benefits rather than the market hype.

marsbit2h ago

Lei Jun Earns 7 Billion in One Day from CXMT's IPO? Xiaomi Executive Responds

marsbit2h ago

Tether's Gold-Backed Stablecoin XAUT Receives Shariah Certification for Access to Islamic Finance

Tether's gold-backed stablecoin XAUt has received Shariah certification from Amanah Advisors. This certification confirms the digital asset's compliance with Islamic financial principles, including being fully backed by physical gold, avoiding interest and leverage, and ensuring transparency of reserves. The approval is expected to expand access to the token for Islamic financial institutions and investors seeking Shariah-compliant exposure to physical gold. Each XAUt token represents one troy ounce of physical gold held in Swiss vaults. As of March 31, Tether reported over 707,000 troy ounces of gold backing the stablecoin, valued at more than $3.3 billion. On-chain data indicates the token's value has grown significantly, from $700 million in July 2025 to approximately $2.5 billion currently. Tether anticipates this certification will facilitate the adoption of XAUt in regions with strong Islamic finance sectors, such as the Gulf countries, as well as in South Asia and parts of Africa, where gold is considered a reliable store of value.

cryptonews.ru5h ago

Tether's Gold-Backed Stablecoin XAUT Receives Shariah Certification for Access to Islamic Finance

cryptonews.ru5h ago

Banks oppose stablecoin yield deal – Can CLARITY Act find 60 votes?

The Bank Policy Institute (BPI) has opposed the latest draft of the CLARITY Act, criticizing its provisions on stablecoin yield and illicit finance. The banking industry sought a total ban on stablecoin yield, but the bill's compromise only prohibits passive yield on idle balances. This opposition has influenced lawmakers, reducing tentative Republican Senate support to potentially 49 votes. With the 60-vote threshold needed, securing sufficient Democratic support appears difficult as some pro-crypto Democrats also oppose the bill due to ethics and illicit finance concerns. Senate Majority Leader John Thune expressed doubt the bill can pass before the August recess. Market odds for the bill's passage in 2026 have fallen, leaving its future uncertain.

ambcrypto07/24 09:02

Banks oppose stablecoin yield deal – Can CLARITY Act find 60 votes?

ambcrypto07/24 09:02

U.S. Tech Momentum Stocks Record Largest Single-Day Gain Ever, but Has the Rout Ended?

U.S. tech momentum stocks staged a dramatic rebound on Tuesday, July 21st. Key momentum indices like the Morgan Stanley TMT Momentum Factor and Goldman Sachs' High Beta Momentum Long Index posted historic or near-historic single-day gains, fueled largely by semiconductor stocks. This sharp rally followed a severe three-day sell-off that saw momentum stocks plunge 33%, marking one of the steepest pullbacks since the dot-com bubble. Analysts attribute the bounce primarily to a short squeeze, as forced covering from over-leveraged traders, particularly in Asia, created a buying spiral. However, the rally's health is questioned due to weak market breadth—overall trading volume was low, and decliners outnumbered advancers in the S&P 500 despite the index's gain—suggesting a narrow, concentrated surge rather than broad recovery. Opinions on the sustainability diverge. BTIG strategists warn the rebound has hit key resistance levels, citing extreme volatility and historic stock dispersion as signs of an ongoing broader correction, and recommend selling into strength. Conversely, Goldman Sachs and UBS view the aggressive momentum unwinding as nearing its end, noting reduced positioning and a lack of new fundamental catalysts. They suggest the sell-off presents a selective opportunity to add exposure, albeit cautiously and gradually using defined-risk strategies. The immediate trajectory hinges on the ongoing earnings season, with market focus on Alphabet's capital expenditure guidance for AI investment clarity. Meanwhile, bond markets present a risk, with rising Treasury yields—potentially heading toward 5.5%—and widening credit spreads for mega-cap tech companies posing a threat to equity valuations. The combination of technical factors, earnings results, and macro conditions leaves the durability of the rebound in doubt.

链捕手07/22 01:05

U.S. Tech Momentum Stocks Record Largest Single-Day Gain Ever, but Has the Rout Ended?

链捕手07/22 01:05

Large Model Memory Anxiety Solved on a USB Drive?

To address the memory and bandwidth challenges of large language model inference, SanDisk and SK Hynix are developing a new technology called High Bandwidth Flash (HBF). This approach adapts the advanced 3D packaging and stacking techniques used for High Bandwidth Memory (HBM) to NAND Flash, which is traditionally seen as slow for compute tasks. The key insight is that while NAND Flash is slow for writes, its read speeds can be significantly enhanced through parallelization. By stacking up to 16 NAND Flash chips, the first-generation HBF aims for capacities up to 512GB and read bandwidths up to 1.6 TB/s, with roadmaps targeting 3.2 TB/s. This positions HBF not as a replacement for HBM, but as a complementary, cost-effective tier in a hierarchical memory system for AI inference. During inference, model weights are largely static and read-intensive, making them suitable for HBF storage. This can alleviate the severe capacity bottleneck of expensive HBM, potentially reducing the number of accelerators needed per server, lowering overall system cost and power consumption. The technology, currently being standardized within the Open Compute Project, signals a shift towards more specialized memory architectures tailored for the specific demands of large-scale AI deployment.

marsbit07/20 00:18

Large Model Memory Anxiety Solved on a USB Drive?

marsbit07/20 00:18

MegaETH Closes Mega Mafia Accelerator as Successful Projects Migrate to Competing Blockchains

MegaETH has shut down its flagship startup incubator, Mega Mafia, after two years. The program supported 20 early-stage projects, which collectively raised $80 million in venture capital. However, without taking equity, MegaETH saw little long-term value return as incubated founders prioritized their own roadmaps. Most successful projects migrated to competing blockchains like Base and Monad, or built their own chains, while two ceased operations. Following the launch of its native MEGA token, MegaETH is shifting strategy. It will now focus on directly funding and developing its own native consumer applications, called OMEGA apps, designed to leverage its high-speed execution. This move to first-party development aims to strengthen the core ecosystem, foster direct user connections, and keep economic activity, supported by a stablecoin-based system, within the MegaETH platform.

TheNewsCrypto07/17 13:31

MegaETH Closes Mega Mafia Accelerator as Successful Projects Migrate to Competing Blockchains

TheNewsCrypto07/17 13:31

RWA's "Robinhood Moment": A Complete Overview of Early-Stage Projects

**RWA's "Robinhood Moment": An Overview of Early Projects** Robinhood's recent focus on Real-World Assets (RWAs) has sparked significant activity on its newly launched Robinhood Chain. Following CEO Vlad Tenev's public interest in projects integrating stock tokens and RWAs, several early-stage initiatives have emerged on the network. Key projects include: * **Arcus:** A DEX for stock tokens and crypto, built by dYdX Labs and Robinhood Crypto, focusing on spot and perpetual trading. Future token distribution will prioritize the dYdX community. * **Lighter:** A ZK-powered DEX for perpetual contracts and stock tokens, offering rewards in its LIT token to users, especially those trading via Robinhood Wallet. * **Rialto:** An official AMM for Robinhood Chain aiming to support crypto, stocks, ETFs, and commodities with a focus on robust quoting, market making, and settlement. * **The Index (INDEX):** A protocol that distributes stock tokens to INDEX holders, funded by transaction fees from its platform. It also offers a leveraged trading product for RWA assets. * **Arrow Finance (ARROW):** A crypto/stock token collateralized lending protocol currently on testnet, allowing users to mint aUSD stablecoin against deposited assets. * **Meridian:** A platform for RWA perpetual contracts and prediction markets, settled in USDe. It was previously known as Ethereal. * **Vimen (VIM):** Creates fully collateralized index basket tokens (e.g., "MAG7" for major tech stocks) that represent a group of underlying stock tokens or crypto assets. * **RoodFi (ROODFI):** Attempts to tokenize US municipal tax liens and tax deeds on-chain for purchase and secondary trading. * **Fletcher (FLETCHER):** A project bridging physical graded trading cards (via Solana NFTs) to Robinhood Chain as mirrored NFTs, featuring a gacha-style "loot box" mechanic. * **Sherwood Exchange (SWOOD):** Aims to provide a privacy layer for RWA trading on Robinhood Chain using zero-knowledge proofs, while utilizing public liquidity pools. * **Fletch Finance:** A yield-tokenization protocol similar to Pendle, splitting stock tokens into Principal Tokens (PT) and Yield Tokens (YT) representing future dividends. **Important Note:** The RWA ecosystem on Robinhood Chain is highly nascent. Most projects are very new, with unproven product viability, user demand, and sustainability. Mentions or features by ecosystem accounts like Virtuals do not constitute formal endorsements or guarantees. Significant risks exist, including incomplete products, low liquidity, smart contract vulnerabilities, and high volatility. Extreme caution and independent research (DYOR) are strongly advised.

Foresight News07/16 02:28

RWA's "Robinhood Moment": A Complete Overview of Early-Stage Projects

Foresight News07/16 02:28

Only 67 of Top 1000 Crypto Projects Have Wikipedia Pages, ChatGPT's 'Understanding' of Crypto Industry Being Distorted

A study by crypto communications firm Chainstory reveals a significant information gap: only 67 of the top 1,000 cryptocurrencies by market capitalization have a Wikipedia page, representing less than 7% coverage. This includes major projects like the $15 billion Hyperliquid and the $5 billion Sui. The coverage rate declines sharply from 80% for the top 10 assets to near zero for those ranked 1,001 to 10,000. This gap is critical because Wikipedia is the single most cited source for AI models like ChatGPT, accounting for approximately 7.8% of all its citations. Consequently, AI tools have a systemic blind spot and lack authoritative, foundational information for the vast majority of crypto projects, often leading to factual errors when discussing them. The low coverage stems from Wikipedia's strict notability guidelines for cryptocurrencies, which deem crypto-native media outlets like CoinDesk and Cointelegraph as "generally unreliable." Instead, Wikipedia requires coverage from mainstream financial publications like Reuters or Bloomberg, which rarely report on many niche crypto sectors. This creates a catch-22 where the media covering the industry aren't trusted, and the trusted media don't cover it. The cumbersome Wikipedia article creation and review process, where projects have no right to appeal deletions, further exacerbates the problem.

marsbit07/15 05:20

Only 67 of Top 1000 Crypto Projects Have Wikipedia Pages, ChatGPT's 'Understanding' of Crypto Industry Being Distorted

marsbit07/15 05:20

Solana Active-Wallet Narrative Needs Stronger App Data To Prove It Has Staying Power

The article argues that while Solana's active wallet growth is a positive narrative, it is an incomplete indicator of the network's long-term health and staying power. A rising wallet count shows initial momentum but does not guarantee sustained user engagement. The critical factor is whether this growth translates into durable activity within decentralized applications (dApps), such as consistent DeFi usage, stablecoin flows, and user retention. The analysis emphasizes that new wallets can be created for various temporary reasons like airdrops or bot activity, making transaction data and application-level metrics more meaningful. Solana's low-cost environment is an advantage for fostering repeat usage, but the network must prove this leads to genuine user loyalty. Ultimately, the article advises treating wallet growth as an early, encouraging signal rather than definitive proof of adoption. For the bullish case to strengthen, it must be supported by concrete data showing real, measurable application activity and economic demand. The market should focus on these deeper execution metrics over speculative headlines to separate durable trends from short-term noise.

bitcoinist07/14 21:16

Solana Active-Wallet Narrative Needs Stronger App Data To Prove It Has Staying Power

bitcoinist07/14 21:16

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