Exchange news
– HashKey Exchange will start offering crypto trading services to retail clients in Hong Kong on August 28, with restrictions on the available cryptocurrencies and investment limits.
Investment news
– ARK Invest and 21Shares have jointly applied for futures exchange-traded fund (ETF) products involving bitcoin and ether, focusing on cash-settled futures contracts.
Court news
– Prime Trust, a crypto custodian, lost $8 million of client funds and treasury funds in an investment in the terraUSD stablecoin.
Regulation news
– Spain’s Council of Ministers approved the establishment of the Spanish Agency for the Supervision of Artificial Intelligence (AESIA) to regulate AI development.
Social media news
– The Twitter-linked app Friend.tech now allows users to send photos and has attracted creators from the OnlyFans platform.
Security news
– Magnate Finance, a lending project on the Layer 2 network Base, executed an exit scam, causing $6.5 million in losses.
Hot Take
Crypto exchanges expanding their services to retail clients demonstrate the growing demand for cryptocurrency investments. However, the recent loss of client funds by Prime Trust highlights the need for robust security measures and regulatory oversight. The entry of traditional investment firms like ARK Invest into the crypto market through ETF products further validates the legitimacy and potential of digital assets. As the crypto industry continues to evolve, it is crucial for investors to stay informed and cautious to protect their funds.
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