News linked to both this project and an event.
Odaily News Cryptoquant founder and CEO Ki Young Ju stated that the peak of Bitcoin's current bull market cycle may be driven by institutional capital outside the United States and ETF demand. He pointed out that deeper stablecoin liquidity and tokenized asset infrastructure will expand global market participation.Ki Young Ju cited South Korea as an example, noting that the country currently has no spot Bitcoin ETFs, retail investors cannot purchase overseas-listed spot Bitcoin ETFs, and most companies are unable to open trading accounts to buy BTC. South Korea has gradually opened up corporate participation in phases, with the Financial Services Commission (FSC) roadmap covering approximately 3,500 listed companies and qualified professional investors, but financial institutions and other businesses remain excluded.Strategy's Bitcoin bank adoption index evaluated 25 major institutions covering trading, custody, digital asset products, financing, and corporate participation, with an overall adoption rate of 32%. As of August 29, RWA.xyz data shows that the distributed asset value of global tokenized assets is $38.63 billion, up 2.65% from 30 days ago.The Bank for International Settlements (BIS) stated that stablecoins have the potential to enable faster, programmable payments, but current designs may pose financial integrity, liquidity, and monetary risks. Ki Young Ju pointed out that U.S. spot Bitcoin ETFs recorded cumulative net inflows of approximately $57 billion in the first two years since launch, and the next phase will be global institutionalization, with more institutions adopting BTC as a strategic asset, and countries lacking ETFs will also improve relevant investment channels. (Bitcoin.com News)
According to Chaoxiang Research, a Morgan Stanley report dated August 25, 2026, indicates that SpaceX has announced a $100 billion Starbase project in Louisiana, planning five launch complexes totaling 10 launch pads, with construction set to begin in 2027 and the maiden flight scheduled for 2029. SpaceX has currently planned a total of 15 launch pads. Morgan Stanley believes the market has not fully appreciated the scale of Starship; even without including the new base, projected launches through 2040 would only require eight launch pads to sustain operations. Morgan Stanley maintains an Overweight rating with a $300 price target, offering 118% upside from the current $137. Louisiana has provided a substantial incentive package, selected for four key reasons: access to polar orbits, natural gas supply, political hedging, and government incentives. With a payload capacity exceeding five times that of Falcon 9 and full reusability, Morgan Stanley projects launch costs will fall to $500/kg by 2030 and drop below $200/kg by 2035. In Morgan Stanley's sum-of-the-parts valuation, the Enterprise AI segment carries a value of $165. The current stock price implies an extremely low single-digit multiple for this business line, while the orbital AI call option is priced near zero. SpaceX has completed its final Falcon 9 Starlink launch from Florida, with all future Starlink missions transferring entirely to Starship. Each launch's downlink capacity is Falcon
Odaily News: Digital asset investment platform Rockawayx has acquired digital asset hedge fund Relayer Capital, incorporating its directional long/short strategy into its approximately $2 billion investment platform. Relayer Capital founder Austin Barack will continue to oversee the strategy and assume the role of Chief Investment Officer of the newly renamed Rockawayx Liquid Opportunities Fund.Rockawayx CEO Viktor Fischer stated that the fund will invest in highly liquid crypto tokens and digital asset-related equities, with a focus on identifying assets that are mispriced relative to their business fundamentals, market position, or growth prospects. The fund is currently open to new external investors.Rockawayx disclosed that the strategy's estimated net return from the start of 2026 through August 21 stands at approximately 70%, outperforming a weighted portfolio of Bitcoin, Ethereum, and Solana by 86 percentage points. Major contributing positions include Venice AI, Hyperliquid, Grass Network, Pump.fun, and Zcash, with investment themes centered on AI and tokenized real-world asset markets.The acquisition adds a directional liquid strategy to Rockawayx's venture capital and market-neutral businesses. Rockawayx also operates infrastructure and onchain liquidity divisions, noting that these capabilities support its team in identifying blockchain market opportunities across stages—from early-stage funding and token issuance to public market trading. (Bitcoin.com News)
Odaily News Recently, the Pre-IPO derivatives sector has seen rising momentum. Ave.ai continues to launch new trading pairs for stock-crypto contracts. On August 27, Ave.ai listed two popular Pre-IPO contract trading pairs: $ANTH and $SHEIN.It is reported that Anthropic, as the developer of the Claude large language model, is a highly sought-after unlisted company in the global AI sector. As its products continue to gain traction in code generation, intelligent agents, and professional research scenarios, market discussions around its IPO valuation have been intensifying. Meanwhile, cross-border e-commerce company SHEIN's listing plans are also a topic of shared interest in both traditional financial markets and the crypto market.Currently, trading $ANTH and $SHEIN through Ave.ai's contracts section is not restricted by US stock trading hours. Users can engage in leveraged long or short trading 24/7 based on business progress, financing news, and IPO expectations. Both contract pairs are now live on Ave.ai.
According to Chaoxiang Research, a Morgan Stanley report dated August 25 noted that the internet sector declined by an average of 2% last week, with Meta down approximately 7%, Amazon down roughly 2%, and Google virtually flat. Current forward P/E ratios for 2026 stand at 19x for Amazon, 17x for Google, and 17x for Meta, reflecting discounts of 36%, a premium of 36%, and a discount of 24% relative to historical averages, respectively. On an EV/EBITDA basis, Amazon at 11.2x represents a 12% discount to its two-year average, Google at 15.1x implies an 8% premium, and Meta at 8.7x reflects a 30% discount. Morgan Stanley maintains an "Attractive" rating on the internet sector, highlighting that AI capabilities are emerging as a core variable driving valuation divergence. The sector's overall forward EV/EBITDA is 9% below the five-year average, while EV/Sales is 16% above it, underscoring a divergence between revenue and profit multiples. After reclassifying stock-based compensation as a cash expense, the adjusted EV/EBITDA for digital media rises by approximately 36% on average, e-commerce by 30%, and travel and the sharing economy by 44%. Upcoming catalysts include the launch of Google's Gemini 4, stabilization of Amazon Web Services (AWS) growth, progress in Meta's AI ad monetization, and shifts in the interest rate environment.
According to Tide Research, Goldman Sachs' August 26 quick commentary highlighted that NVIDIA reported Q2 revenue of $96.2 billion, beating Goldman's forecast by 3.4% and market consensus by 4.2%; data center revenue reached $89.0 billion, outpacing estimates by 2.9% and consensus by 3.6%; EPS came in at $2.22, surpassing expectations by 4.9% and consensus by 6.1%; and gross margin was 75.0%, in line with projections. The midpoint of Q3 revenue guidance stands at $108.0 billion, reflecting 14% QoQ growth and approximately 90% YoY growth, exceeding the market consensus of $105.4 billion but slightly falling short of Goldman's estimate of $110.7 billion. Gross margin guidance is set at 74.0%, slightly below the anticipated 74.9%. Goldman Sachs retains a Buy rating with a $285 price target, offering 34% upside from current levels, though it expects the stock to trade in a range post-earnings, as market optimism has already been fully absorbed following hyperscalers' capex upgrades. The Q3 gross margin guidance misses market expectations by roughly 90 basis points, mainly due to elevated initial ramp-up costs for the new Blackwell architecture GPUs. Goldman asserts that three key discussion points from the earnings call—the upside potential for the $1 trillion cumulative data center revenue target, the structure of the $500 billion financing facility, and the gross margin trajectory in H2 2026 and 2027—are more critical than the earnings figures themselves. Robust guidance underscores the resilience of AI spending, making digital semiconductors such as Broadcom, AMD, Marvell, ARM, and Intel the most...
Odaily News Crypto exchange Coinbase and digital mortgage company Better Mortgage have announced the full rollout of token-backed conforming mortgages for Coinbase One members, allowing eligible borrowers to use crypto assets as collateral in the home buying process.The product became available to Coinbase One members on August 12. The two companies first announced their partnership in March of this year, with the first mortgage loan under this program designed within the framework of a Fannie Mae-compliant conforming mortgage. According to the announcement, Coinbase One members who qualify for Better's mortgage products can receive a lender credit equal to 1% of the loan amount, up to a maximum of $10,000. This credit can be applied toward mortgage closing costs and is available for standard mortgages, home equity lines of credit (HELOCs), and refinancing products. (The Block)
Odaily News, SEC published the proposed rules for "Regulation Crypto Assets" on August 18, which set two exemptions for specific investment contracts involving crypto assets: allowing startups to raise up to $5 million in a single offering within 4 years, and allowing eligible issuers to raise up to $75 million within any 12-month period, potentially conducting different rounds of offerings in subsequent years. Drew Hinkes, a partner at Winston & Strawn, stated that as long as each round of financing constitutes a separate and independent offering, projects could theoretically raise $75 million every 12 months. Lilya Tessler, head of Sidley's Fintech and Blockchain practice, noted that subsequent offerings are not automatically approved; issuers must resubmit offering statements, undergo SEC staff review, continue to file annual and semi-annual reports, and disclose funds raised through the exemption over the past 12 months to confirm that the fundraising cap has not been exceeded. The proposed rules also limit the participation size of non-accredited investors, whose purchase amount cannot exceed 10% of the higher of their annual income or net worth. Lee Reiners, a financial regulation expert at Duke University, stated that the limited initial offering amount may make early token allocations more attractive, but the rules are unlikely to recreate the ICO boom of 2017. Up to 90% of projects that raised funds through ICOs between 2017 and 2019 ultimately failed. The SEC estimates that approximately 130 offerings per year will use the two exemptions, and about 475 issuers may use the broader investment contract safe harbor. The proposed rules will provide token issuers with a clearer path for U.S. fundraising compared to the current framework, but secondary market trading may still involve a gray area regarding securities attributes. The proposal stipulates that investment contracts related to crypto assets may continue to transfer with the tokens in secondary market transactions until the asset is separated from the issuer's representations or commitments. Drew Hinkes stated that if a non-security token is transferred along with an investment contract from seller to buyer, the transaction could still be deemed a securities transaction, potentially affecting trading platforms. Lee Reiners also noted that some issuers might satisfy the formal requirements of the exemptions while still influencing token value through team management efforts, concentrated insider holdings, and aggressive promotion.
According to Odaily, the Iranian rial hit a record low this week, with the open market exchange rate falling to approximately 2.02 million rials per US dollar on August 24, compared to around 1.53 million rials in the first quarter. During the same period, the US government launched "Operation Economic Exodus," adding more than 60 entities to the Treasury Department's blacklist and, for the first time, designating digital assets as a sanctionable category.State-controlled farms linked to Iran's Islamic Revolutionary Guard Corps (IRGC) control approximately 65% of Iran's Bitcoin mining capacity. Iranian miners have accounted for roughly 3% to 7% of global Bitcoin hashrate since 2019, with the mined Bitcoin valued at an estimated $1.35 billion to $3.15 billion at various stages.Iran legalized Bitcoin mining in 2019, allowing licensed operators to use industrial electricity at approximately $0.004 per kilowatt-hour and sell the mined tokens to the Central Bank of Iran. Chainalysis estimates that IRGC-affiliated wallets received over $3 billion in Q4 2025; Elliptic states that the Central Bank of Iran holds at least $507 million in USDT.The US Treasury sanctioned Nobitex, Wallex, Bitpin, and Ramzinex in June. Nobitex had processed more than half of Iran's digital asset inflows; in April, the US Treasury seized nearly $500 million in Iran-linked crypto assets. (Bitcoin.com News)
According to Chaoxiang Research, a Morgan Stanley report dated August 24 indicates that the total disclosed off-balance-sheet commitments from hyperscalers, NVIDIA, and Broadcom have surpassed $3.1 trillion. Lease commitments total $1.1 trillion and procurement commitments $1.7 trillion, while the combined on-balance-sheet debt and lease liabilities of hyperscalers reach $770 billion. Amazon and Google's free cash flow turned negative in Q2 2026, with Meta expected to follow suit next quarter. Financing instruments are restructuring the AI compute capital structure across six dimensions: off-balance-sheet lease and procurement commitments form the first financing layer; the share of debt issuance rises from 2% in 2025 to 19% in 2026; Google frees up $110 billion by reducing share buybacks and issuing equity; Oracle records $4.6 billion in customer advance payments in Q2; and Broadcom and NVIDIA launch chip-leasing SPVs to support unrated AI labs. Morgan Stanley notes that when the financing structure itself becomes a core variable in the AI supply chain, tracking changes in off-balance-sheet commitments and accounting judgments is nearing the importance of tracking chip shipments themselves.
According to Chaoxiang Research, Morgan Stanley's August 24 report raised its revenue assumption per gigawatt (GW) of externally sold Google TPUs from $20 billion to $27 billion, increasing the gross margin assumption from 20% to 30%. Following these adjustments, TPU-related cloud revenue is projected to reach $84 billion and $108 billion in 2027 and 2028, respectively, marking increases of 35% and 37% over prior forecasts. Morgan Stanley maintains an Overweight rating on Alphabet with a price target of $400, implying 16% upside from the current share price. The upward revision draws support from recent media reports stating that Google has pledged to supply approximately one million TPUs (equivalent to roughly 1.3 GW), generating about $35 billion in revenue. Furthermore, Google's custom silicon agreement with Marvell validates TPU pricing above previous estimates. The firm anticipates Google Cloud will contribute approximately 50% of Alphabet's consolidated EBIT by 2028. Three primary catalysts underpin the potential for valuation re-rating: the rollout of Gemini 4, inference cost reductions through optimized models, and the market deployment of GenAI offerings. The target price reflects a forward P/E multiple of approximately 22x based on 2028 consensus earnings, commanding a premium of roughly 22% relative to the peer median.
According to Chaoxiang Research, Goldman Sachs' research report dated August 24, 2026, indicates that cryptocurrency trading volume fell 30% in July and 21% in August, declining for 10 consecutive months, a duration that exceeded the median of the previous five cycles. Trading volume in this cycle has dropped 75% from its peak, while cryptocurrency market capitalization rebounded 21% over the past week. Goldman Sachs suggests a turning point in trading volume may emerge if market cap remains at current levels. On the regulatory front, 35% of institutional investors cite regulatory uncertainty as the biggest hurdle, while 32% identify regulatory clarity as the primary catalyst. The SEC recently proposed an innovation exemption framework. In 2026, over 10 additional digital asset companies received bank charters from the OCC, and more than 15 crypto firms have already been incorporated into the federal banking system. Crypto companies reduced expenses by an average of approximately 5% in 2026, lifting operating margins by roughly 5.8 percentage points. Goldman Sachs remains cautiously optimistic for the second half of the year, with sector valuations currently positioned at the 30th percentile over a five-year period. Key recommendations include COIN (target price $196), HOOD ($124), IBKR ($114, featured on Goldman Sachs' Conviction List US), and FIGR ($43). The investment logic diverges across the three sectors: traditional brokerages are poised for a September reversal, prediction markets are driven by the election cycle, and crypto equities benefit from a triple catalyst of market cap recovery, cost reductions, and regulatory reform.
According to an official Binance announcement, Binance Futures will list U-margined perpetual contracts for SKUUUSDT, SKDDUSDT, RAMUSDT, DJTUSDT, and MRNAUSDT in batches on August 25 between 17:00 and 17:20 (UTC+8), with underlying assets including the SK Hynix Leveraged ETF, DRAM-themed ETF, Trump Media & Technology Group (DJT), and Moderna (MRNA) — traditional financial assets. All the aforementioned contracts settle in USDT, support 24/7 trading, multi-asset mode, and leverage of up to 20x. Funding rates are settled every 8 hours, with upper and lower limits set at +2% and -2%, respectively.
According to Chaoxiang Research, Goldman Sachs's August 23 research report notes that Samsung Electronics announced a projected shareholder return pool for 2026 ranging from KRW 90 trillion to KRW 110 trillion (median approximately KRW 100 trillion), which is lower than the KRW 150 trillion market expectation previously reported by the media. Goldman Sachs maintains its Buy rating with a common stock price target of KRW 490,000, implying a 74% upside from the current share price. The company plans to distribute cash dividends of approximately KRW 30 trillion in the third quarter, with the remainder to be implemented following confirmation in the January 2027 financial results. Goldman Sachs calculates that Samsung's cumulative free cash flow (FCF) from 2024 to 2026 will be approximately KRW 270 trillion. Based on a 50% payout ratio, the 2026 return will be about KRW 106 trillion, falling at the upper end of the guidance range. Goldman Sachs projects that the return pools for 2027 and 2028 will increase to KRW 179 trillion and KRW 232 trillion, respectively, while raising its 2026, 2027, and 2028 EPS forecasts by 1%, 7%, and 11%. At its current share price, Samsung trades at an expected 2027 price-to-book (P/B) ratio of 1.7x and a 2028 P/B ratio of 1.2x, with corresponding ROE reaching 40% to 50%. Goldman Sachs considers the risk-reward ratio to be attractive.
According to Trend Research, Goldman Sachs' August 21, 2026 research report notes that the MSCI Asia Pacific ex Japan Index (MXAPJ) posted Q2 net profit growth of 135% year-over-year and 52% quarter-over-quarter, with 46% of companies beating expectations and a median surprise of 4.3%. The information technology sector led the gains, with earnings up 390% YoY. The current MXAPJ forward P/E ratio stands at 11x, two standard deviations below its 10-year average, placing it in a deeply discounted range. Goldman Sachs has set a 12-month target price of 1,080 points, implying a 21% upside from the current level of 891 points, with an expected total return including dividends of approximately 24%. Goldman Sachs believes earnings resilience will drive valuation repair, recommending overweight positions in capital goods, healthcare, energy, tech hardware and semiconductors, and insurance, while suggesting underweights in autos, software & services, internet, utilities, and metals & mining. Key trading recommendations include going long on portfolios that outperform earnings revisions (launched in July 2021, with a cumulative return of 334%) and going long on AI infrastructure hardware and semiconductors (launched in June 2023, with a cumulative return of 63%). MSCI will adjust its index benchmarks on August 31, triggering approximately $42 billion in two-way capital flows across Asian markets, which could amplify volatility toward the end of the month. Downside risks to monitor include rising long-end US Treasury yields, escalating geopolitical tensions, and the pace of China’s economic recovery.
Odaily News According to reports, venture capitalist Josh Kushner has seen his wealth grow significantly this year, driven by early investments in star tech companies like OpenAI and SpaceX. The asset scale of his firm, Thrive Capital, has also nearly doubled as a result of betting on the wave of artificial intelligence.It is reported that Josh Kushner's wealth has grown nearly threefold this year, placing him among the billionaires' circle. As the founder of Thrive Capital, he previously earned substantial returns by investing in companies such as Instagram, Spotify, and OpenAI, and has become one of the most successful venture capitalists in Silicon Valley in recent years.On August 12, news broke that the NBA's Los Angeles Lakers were being sold to former Disney CEO Bob Iger and Josh Kushner at a record valuation of $12.5 billion. However, Josh Kushner did not mention the Lakers deal on social media that day, instead celebrating another AI-related investment move. On the same day, Thrive Holdings, founded by Josh Kushner in 2025, completed a $2 billion funding round with investors including SoftBank, reaching a company valuation of $12.5 billion. The firm aims to acquire traditional service companies and leverage AI technology to drive business transformation.Josh Kushner said: "We are incredibly fortunate to be building during such a profound era of innovation."Over the past few months, Josh Kushner has frequently appeared at core events in the tech and capital circles. Not only has he continued to bet on the AI industry through Thrive Capital, but he has also maintained close ties with OpenAI executives. In July this year, he attended the wedding of Taylor Swift and NFL star Travis Kelce, and later participated in the annual Sun Valley billionaire conference in the U.S., where he was photographed alongside OpenAI President Greg Brockman.Market observers believe that as the AI investment boom continues, venture capital firms holding key AI assets like OpenAI are becoming some of the biggest beneficiaries. Josh Kushner, through his early bets on the AI ecosystem, has achieved massive wealth growth. (Forbes)
As reported by CryptoBriefing, Texas-based bitcoin mining infrastructure company Bitari Inc. filed an S-1 registration statement with the SEC on August 21, 2026, proposing to issue 4.2857 million common shares on Nasdaq (ticker: BIAI) at $7 per share, aiming to raise approximately $30 million in gross proceeds and around $27 million in net proceeds after deducting fees. Regarding the use of proceeds, 40% will be allocated to acquisitions, 30% to expansion and brand building, 15% to new infrastructure construction, 10% to research and development, and 5% to general corporate purposes. Currently, Bitari operates a 20MW mining facility in Wheeler, Texas, and is developing two additional 20MW facilities in Dumas, Texas, and Marion, Indiana. Following the IPO, AI Power X Inc. will hold approximately 85.87% of the voting power, leaving public shareholders with limited governance rights.
: Galaxy's Head of Research posted on X, stating that on August 18, the U.S. Securities and Exchange Commission proposed the "Regulation Crypto Assets," abbreviated as Reg Crypto. The proposal aims to establish a legal pathway for certain tokens to be offered to the U.S. public and to set up a mechanism for terminating investment contracts. Its applicability is limited to crypto assets that are not themselves securities but were previously issued or sold as part of an investment contract; tokenized stocks, bonds, and arrangements bundling tokens with equity or other securities are not covered by the framework.The proposal sets out four stages: offering, disclosure, build-out, and exit. A one-time startup exemption allows issuers to raise up to $5 million over a maximum of four years; a higher-threshold exemption modeled on Regulation A permits raising $20 million or $75 million within 12 months. Such offerings must pass SEC qualification review and involve ongoing disclosure, with non-accredited investors capped at 10% of the higher of their annual income or net worth. Issuers are also required to disclose token supply and unlock schedules, minting and burning mechanisms, governance and smart contract permissions, source code, as well as project construction commitments and progress.Once an issuer completes or permanently ceases the relevant build-out obligations, makes no new construction commitments, and submits a transition report, the related investment contract will be deemed terminated, and the crypto asset will no longer be subject to securities laws under that investment contract. Issuers that did not use the above offering exemptions may also use this safe harbor. The SEC estimates that approximately 475 issuers per year would use the investment contract safe harbor, and about 130 issuers would use the two new exemptions. Offerings that qualify would not be considered restricted securities and could be resold immediately without contractual restrictions.The proposal also excludes covered initial offerings and certain secondary transactions from state registration and qualification requirements, but it does not address exchanges, brokers, dealers, or custody, nor is it a standalone innovative exemption for tokenized securities and on-chain transactions. The comment period is 60 days after publication in the Federal Register. SEC Chairman Paul Atkins and Commissioners Hester Peirce and Mark Uyeda all issued statements of support. The article was written by Alex Thorn.
Odaily News: Digital asset treasury company Strategy reported a net loss of $8.2 billion in Q2, mainly driven by an $8.3 billion unrealized loss on digital assets. Its software business generated $122 million in revenue for the quarter. The company's financial report adopts the fair value measurement model.Between August 3 and 9, Strategy sold 1,690 bitcoins, cashing out approximately $109 million and repurchasing STRC preferred shares. In the following week, the company did not sell any bitcoin but instead raised $334 million through common stock issuance, of which $52 million was used for preferred stock dividends, $132 million for buybacks, and $149 million went into its dollar reserves.Digital asset treasury company Twenty One Capital disclosed that as of June 30, each Class A share corresponded to 12,547 satoshis, down from 12,557 at the end of 2025. The company holds 43,514 bitcoins, valued at approximately $2.8 billion, with an equity market capitalization of about $1.6 billion, corresponding to roughly 0.57 times its bitcoin holdings valuation.Of the bitcoins held by Twenty One Capital, 16,116 are staked as collateral for $485 million in convertible bonds, corresponding to approximately $106 million in cash. Strategy's dollar reserves reached $4.8 billion as of August 16, which management says can cover approximately 2.7 years of debt and dividend expenses. (Forbes Digital Assets)
Odaily News: According to the latest data from Bitget, as of August 20, the cumulative number of TradFi futures trades on the platform in August has exceeded 150 million, with a peak of 13.64 million trades in a single day. As demand for trading traditional financial assets such as U.S. stocks, forex, precious metals, and commodities continues to rise, trading activity on Bitget's TradFi segment has further increased.