We have specially compiled noteworthy activities in the cryptocurrency field in Hong Kong for August, which will open a window to the future of Web3 for you.

<h3 dir=)Trump: Tariffs will be imposed on countries implementing digital taxes, digital services legislation, or digital market regulations

"Digital taxes, digital services legislation, and digital market regulations are all aimed at harming or discriminating against American technology. I inform all countries with digital taxes, legislation, rules, or regulations that unless these discriminatory actions are removed, I, as President of the United States, will impose significant additional tariffs on that country's exports to the United States and implement export restrictions on our highly protected technology and chips. The United States and American technology companies are no longer the 'piggy bank' of the world, nor are we the 'doormat' of the world. Respect America and our great technology companies, or consider the consequences! Thank you for your attention to this matter."

U.S. Secretary of Commerce: The Department of Commerce will begin publishing economic statistics on the blockchain

U.S. Secretary of Commerce Howard Lutnick stated at a White House cabinet meeting that the Department of Commerce will begin publishing economic statistics, including Gross Domestic Product (GDP) data, on the blockchain, and may expand to all federal departments once "all details are finalized."

Project/Company Updates

Kraken's parent company meets with SEC cryptocurrency working group to discuss asset tokenization regulation

The U.S. Securities and Exchange Commission (SEC) cryptocurrency asset working group held a meeting on August 25 with Kraken's parent company Payward, subsidiary Kraken Securities, and law firm WilmerHale, discussing the framework for tokenized trading systems, regulatory requirements, and the potential benefits of asset tokenization.

Bitlayer announces BTR token economics, 7.75% will be used for node incentives

Bitcoin DeFi infrastructure project Bitlayer announced its BTR token economics. The total supply of BTR tokens is 1 billion, with an initial circulation of 261,600,000 tokens (26.16%). Of this, 40% will be used for ecosystem incentives, 20.25% will be allocated to investors and advisors, 12% will be allocated to the core team, 11% will be used for public distribution, 7.75% will be used for node incentives, 6% will be allocated to the treasury, and 3% will be used for liquidity.

Bitcoin-compatible commercial public chain Bitway receives investment from YZi Labs

Bitcoin-compatible commercial public chain Bitway has received significant strategic investment from YZi Labs (formerly Binance Labs), with the specific amount undisclosed, and has completed its first startup camp EASY Residency. Recently, Bitway completed a brand upgrade and plans to launch a mainnet hard fork, fully supporting gas-free Bitcoin payment networks and native BTC lending, among other flagship products, to accelerate the construction of a Bitcoin-centric on-chain business ecosystem.

Aave founder: Aave V4 is about to launch

The Aave V4 codebase has officially introduced all DAO service providers. Subsequently, Aave founder Stani.eth retweeted the announcement and stated that Aave V4 is about to launch.

Pantera Capital plans to raise $1.25 billion to acquire a Nasdaq-listed company and transform it into a Solana investment company

Pantera Capital plans to raise up to $1.25 billion to acquire a Nasdaq-listed company and rename it Solana Co, focusing on accumulating SOL tokens. The conversion plan has been detailed for the first time, reporting that Pantera will first raise $500 million and then raise $750 million through warrants.

Canary Capital applies for TRUMP ETF

Canary Capital has submitted an S-1 form to the U.S. Securities and Exchange Commission, applying to establish the Canary TRUMP Coin ETF.

Trump Media to establish CRO digital asset treasury, plans to raise $6.42 billion

Trump Media & Technology Group has reached an agreement with Crypto.com to establish the Trump Media Group CRO Strategy through a business merger with Yorkville Acquisition Corp., focusing on building a digital asset treasury for the Cronos native token CRO. The plan is expected to raise a total of approximately $6.42 billion, including $1 billion in CRO (about 19% of the then total market value), $220 million in cash and funds from the exercise of mandatory subscription rights, as well as a $5 billion equity credit line from Yorkville affiliate YA II PN, Ltd., making it the first and largest publicly traded CRO treasury company.

In-Depth & Outlook

Examining the scalability dilemma and cultural solutions of Crypto through Michelangelo's "Sistine Mission"

Crypto originated from resistance and ideals, lost in speculation and trading. If we cling to the perception that "Crypto is just a speculative application," we abandon the randomness that may exist.

Is the data infrastructure ready for the era of crypto super applications?

However, in this cycle, meme players are the most active consumer group. They have driven the phenomenal application Pump.fun to accumulate $700 million in revenue, nearly double the total revenue of the previous cycle's leading consumer application Opensea.

Views

How much will traditional enterprises spend to enter RWA?

The one-time issuance of RWA products refers to the issuer completing the tokenization and fundraising of a specific product only once, with costs typically ranging from 3 million to 6 million RMB, and the high expenses consist of several key links, with brokerage fees dominating.

Understanding SBI's 7 major crypto layouts, what is the current state of Japan's crypto industry?

In August, Ripple, in collaboration with CB Insights and the UK Blockchain Technology Center, released a report indicating that Citigroup, JPMorgan, Goldman Sachs, and Japan's SBI Group have become the most active participants in the traditional financial sector supporting blockchain startups. Recently, SBI has reached collaborations with Chainlink, Ripple, Startale, and others to assist global institutions in the application of digital assets.

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