Crypto Morning Brief: S&P Dow Jones Indices plans to launch tokenized index products; this week, tokens including ZRO, KAITO, SOON will see large unlocks
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Crypto Morning Brief: S&P Dow Jones Indices plans to launch tokenized index products; this week, tokens including ZRO, KAITO, SOON will see large unlocks
Hong Kong broker Mango Financial announces launch of cryptocurrency strategy and plans to purchase BTC.
Navigating Web3 tides with focused insightsAuthor: TechFlow
Yesterday's Market Dynamics
Fed Plans to Scrap Regulatory Program Targeting Banks' Crypto and Fintech Activities
According to Bitcoin Magazine, the Federal Reserve plans to discontinue its dedicated program regulating banks' cryptocurrency and fintech activities.
S&P Dow Jones Indices Plans to Launch Tokenized Index Products
As reported by Cointelegraph, S&P Dow Jones Indices is discussing collaborations with major exchanges, custodians, and decentralized finance protocols to launch tokenized versions of benchmark index products. Earlier this year, the company partnered with Centrifuge to authorize a tokenized version of the S&P 500 index.
Stephanie Rowton, a director at the company, said the initiative aims to build robust infrastructure supporting the trading of tokenized indices. The plan emphasizes transparency, security, and regulatory compliance, and may extend to tokenizing other flagship indices such as the Dow Jones Industrial Average.
Xiong'an New Area Completes First Multilateral Central Bank Digital Currency Bridge Transaction for Relocated Central SOEs
According to the Xiong'an Release official account, under the guidance and support of the People's Bank of China's Xiong'an branch, the Hebei Xiong'an branch of Industrial and Commercial Bank of China successfully completed the first multilateral central bank digital currency bridge transaction for ChemChina Finance Co., Ltd., the financial subsidiary of a centrally-administered state-owned enterprise relocated to Xiong'an.
Story Co-Founder Jason Zhao Steps Down from Full-Time Role, Moves to Strategic Advisor
As stated by Jason Zhao on social platform X, after 3.5 years since launching project Story, he will step down from his full-time position and transition into a strategic advisor role, focusing on his new venture Poseidon, which applies artificial intelligence to frontier fields like science and space exploration.
Kraken Suspends Monero Deposits; Withdrawals and Trading Remain Open
According to Cointelegraph, cryptocurrency exchange Kraken has suspended Monero deposits as a precautionary security measure following concerns over a potential 51% attack on the network. However, withdrawals and trading remain operational, with deposit services expected to resume once network security is confirmed.
Crypto Exchange Gemini Releases Its IPO Prospectus
As reported by The Block, Gemini publicly filed its S-1 prospectus on August 15, planning to list on the Nasdaq exchange under the ticker symbol "GEMI." Goldman Sachs, Citigroup, Morgan Stanley, and Cathay Capital will serve as lead underwriters.
Financial data shows that Gemini incurred a net loss of $282.5 million in the first half of 2025, significantly wider than the $41.3 million loss during the same period in 2024. For the full year of 2024, the company reported a net loss of $158.5 million on revenue of $142.2 million.
Notably, Gemini has entered into a credit facility agreement with Ripple for up to $75 million, payable via Ripple's RLUSD stablecoin, with the potential to expand the line to $150 million.
Nano Labs Releases H1 Financial Report: Now Holds Over 128,000 BNB
Nano Labs (NASDAQ: NA) today released its unaudited financial results for the first half of 2025. The report shows the company achieved net revenue of RMB 8.3 million and narrowed its net loss to RMB 11.8 million, an 80% year-on-year reduction.
The company made significant progress in its cryptocurrency strategic reserve, currently holding over 128,000 BNB, generating a fair value gain of RMB 48.6 million from cryptocurrency holdings during the period. As of June 30, 2025, the company’s cash and cash equivalents amounted to RMB 363 million.
Kong Jianping, Chairman of Nano Labs, stated the company will continue strengthening its cryptocurrency strategic reserve model and enhancing its reserve capabilities through various means to seize new market opportunities.
Hong Kong Broker Mango Financial Announces Launch of Digital Currency Strategy and BTC Purchases
According to Globenewswire, Hong Kong-licensed broker Mango Financial announced the launch of its digital currency strategy, integrating cryptocurrencies into its financial services. The company's board has approved allocating part of its own capital toward digital asset investments, with an initial focus on Bitcoin. It will gradually explore applying blockchain innovations to its service offerings, such as researching the use of stablecoins in cross-border payment settlements, thereby complementing its existing business lines with fintech solutions.
OpenAI Successfully Raises Over $8 Billion Amid Strong Investor Demand
According to Jinshi Data, a source familiar with the matter revealed that OpenAI has successfully raised $8.3 billion in a funding round that is part of a larger $40 billion fundraising plan. This comes amid accelerated growth in the company's operations. The source noted that OpenAI's annualized recurring revenue has increased from $10 billion in June to $13 billion, and is projected to exceed $20 billion by year-end. Additionally, ChatGPT's paid enterprise user base has rapidly grown from 3 million to 5 million in recent months. The fundraising round concluded ahead of schedule due to overwhelming demand, achieving fivefold oversubscription.
Michael Saylor Resharing Bitcoin Tracker, May Disclose New Accumulation Data Next Week
Michael Saylor reposted his Bitcoin tracker on X, suggesting he may disclose new accumulation data next week, writing: "Insufficient orange."
This Week, Tokens Including ZRO, KAITO, SOON Face Large Unlock Events, Totaling Over $100 Million
Data from Token Unlocks shows multiple tokens will undergo large unlock events this week, totaling over $100 million in value. Tokens unlocking more than $1 million in value include:
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ZRO will unlock 25.71 million tokens worth approximately $55.02 million on August 20, representing 8.53% of circulating supply;
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KAITO will unlock 23.35 million tokens worth approximately $25.92 million on August 20, representing 10.87% of circulating supply;
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SOON will unlock 41.88 million tokens worth approximately $11.77 million on August 23, representing 13.04% of circulating supply;
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AVAIL will unlock 220.24 million tokens worth approximately $3.99 million on August 23, representing 7.67% of circulating supply;
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PIXEL will unlock 91.18 million tokens worth approximately $3.19 million on August 19, representing 4.54% of circulating supply;
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IOTA will unlock 15.16 million tokens worth approximately $3.17 million on August 20, representing 0.42% of circulating supply;
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ZKJ will unlock 15.53 million tokens worth approximately $3.10 million on August 19, representing 4.37% of circulating supply;
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ID will unlock 12.65 million tokens worth approximately $2.10 million on August 22, representing 1.10% of circulating supply;
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NEWT will unlock 6.25 million tokens worth approximately $2.05 million on August 24, representing 1.96% of circulating supply;
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EIGEN will unlock 1.29 million tokens worth approximately $1.80 million on August 19, representing 0.48% of circulating supply;
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DMC will unlock 387.10 million tokens worth approximately $1.71 million on August 21, representing 11.34% of circulating supply;
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ANIME will unlock 66.43 million tokens worth approximately $1.19 million on August 23, representing 1.15% of circulating supply.
Market Movements
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