Industry News

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.

HashKey Supports Nighttime Currency Exchange, Becoming First Licensed Exchange to Fully Enable 24/7 Fiat Conversion

Hong Kong's licensed virtual asset exchange platform, HashKey Exchange, has announced the launch of overnight USD-HKD currency exchange services, making it the first licensed platform in Hong Kong to offer round-the-clock fiat currency conversion for both retail and institutional clients. This upgrade allows users to enjoy near-native crypto market liquidity at any time of day. Previously, currency exchanges were limited to banking hours, restricting institutions from hedging overnight and individuals from transferring funds promptly. With the new service, HashKey will process conversion requests outside regular banking hours, enabling seamless transactions without delays. As a licensed platform, all funds used in overnight exchanges are fully segregated from operational funds and monitored in real-time to ensure security. The move enhances Hong Kong’s digital finance infrastructure, providing both institutional and retail users with continuous, regulated, and reliable conversion services. Randall Chan, Managing Director of HashKey Exchange, stated that fiat liquidity has been a major barrier for institutional entry into digital assets. Overnight conversion reduces time constraints for hedging, transfers, and settlements, allowing secure capital flow at all hours. The platform aims to further integrate trading, deposits/withdrawals, custody, and settlement into a comprehensive liquidity infrastructure.

深潮12/18 04:50

HashKey Supports Nighttime Currency Exchange, Becoming First Licensed Exchange to Fully Enable 24/7 Fiat Conversion

深潮12/18 04:50

VC "Dead"? No, the Industry is Undergoing a Brutal Shakeout

The article addresses the prevailing sentiment that "VC is dead" in the crypto industry, arguing that while some venture capital firms have indeed failed, the sector as a whole is not dying but undergoing a severe shakeout. The author, a former VC investor, states that many Asian VCs have been hit hardest, with top firms shutting down or scaling back significantly. Even second- and third-tier Western VCs are now facing similar challenges, marked by reduced investment pace and difficulty in exiting portfolios. This downturn is seen as a delayed effect of the 2022 market collapse, exacerbated by broken four-year cycle expectations, overvalued deals, and extended token lockups that strain returns. However, the piece contends that VCs won’t disappear entirely. They remain essential for funding early-stage projects and supporting innovation. Well-vetted VC backing has been behind nearly all major successful crypto projects, and quality ventures continue to attract interest. The industry is moving toward a maturity phase with higher barriers to entry—akin to Web2. VCs will need stronger reputations and expertise to compete. Projects are increasingly judged by real user adoption and revenue, not just narratives or token launches. Hyperliquid and Polymarket are cited as examples of projects that built sustainable traction before launching tokens. Despite current challenges, the author remains optimistic: top talent continues to enter the space, and foundational areas like stablecoins, prediction markets, and AI-driven economies hold promise. While the barrier to success is higher than in previous cycles, Web3 remains a land of opportunity—especially when compared to the hyper-competitive Web2 environment.

marsbit12/18 03:04

VC "Dead"? No, the Industry is Undergoing a Brutal Shakeout

marsbit12/18 03:04

Crypto Morning Brief: Coinbase Launches Stock Trading and Prediction Market Services, Binance Explores Relaunch of Binance.US

**Crypto Morning Brief** Key market movements include BTC dropping below $86,000 and ETH falling under $2,800. Federal Reserve Governor Waller signaled that the weak job market supports the case for continued interest rate cuts. Major exchange developments are a central theme. **Coinbase** significantly expanded its services, launching stock trading with zero commissions, 24/5 availability, and a partnership with prediction market provider Kalshi. It also introduced AI-driven wealth management and business services. Meanwhile, **Binance** is reportedly exploring options to restart its US operations, Binance.US, which could involve a capital restructuring to reduce founder CZ's ownership stake. In other news, **Tether** launched a peer-to-peer password manager called PearPass, emphasizing enhanced security by avoiding cloud storage. **SBI Ripple Asia** announced plans to launch an XRP-based yield product and explore real-world asset tokenization on the XRP Ledger. Binance Wallet introduced a new on-chain lending feature, and Bitcoin treasury company Metaplanet received support for its management proposals from Norway's sovereign wealth fund. On the regulatory and corporate front, crypto VC firm **Shima Capital** is shutting down following SEC fraud charges against its founder, who has agreed to a settlement. Bitcoin miner **Hut 8** signed a $7 billion data center lease agreement.

深潮12/18 01:39

Crypto Morning Brief: Coinbase Launches Stock Trading and Prediction Market Services, Binance Explores Relaunch of Binance.US

深潮12/18 01:39

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