24H Hot Coins & Headlines | X to Support Crypto Trading Features; WLFI's Largest Buyer Zhou Guren Listed as Judgment Defaulter with Millions in Debt (August 26)
- Core Insights: The cryptocurrency market shows a divergent trend, with major coins generally pulling back while some small-to-mid-cap tokens and crypto-related stocks remain active. On the regulatory front, multiple countries are accelerating the adoption of blockchain in financial infrastructure, while the Trump family's crypto project has drawn attention due to conflicts of interest and buyer credit issues.
- Key Elements:
- All top 10 coins by CEX trading volume declined, with ZEC posting the largest drop (-6.75%), while BTC and ETH fell 1.27% and 1.54% respectively, reflecting an overall bearish market sentiment.
- On OKX's gainers list, SNT led the rally (+18.64%), and in the crypto-equity market, SRM.M surged 51.49%, indicating capital seeking opportunities in select small-cap assets and tokenized equities.
- Regulatory and policy developments were密集: India plans to issue its first tokenized bond (approximately $57 million) in September; Japan proposes building a blockchain-based real-time settlement system targeting operation by the early 2030s; Thailand is soliciting comments on a draft framework for cryptocurrency ETFs.
- Zhou Guren, the largest buyer of the Trump family's WLFI project, has been listed as a judgment defaulter, involving 6 cases with debts totaling tens of millions of yuan, in addition to a UK money laundering charge; the WLF CEO responded that he has never discussed business matters with Trump, denying any conflict of interest.
- Hyperliquid has filed applications with the U.S. SEC and CFTC to confirm that equity perpetual contracts can be listed as security futures, aiming to provide regulatory clarity for the onshore return of related products; Upbit operator Dunamu confirmed engagement with U.S. regulators but has not yet finalized plans for a U.S. listing.
- Investment and financing remain active: YZi Labs' incubation program invested $500,000 in each of 24 early-stage companies; prediction market Kalshi raised approximately $1.12 billion through equity financing.
- A former head of product at X stated that X will soon support cryptocurrency trading features, allowing users to paste contract addresses to view newly minted tokens, and attributed the bull market to the Treasury's bond buybacks and U.S. dollar depreciation policies.
1. Top CEX Tokens
Top 10 by CEX trading volume and 24-hour change:
- BTC: -1.27%
- ETH: -1.54%
- SOL: -4.82%
- XRP: -4.22%
- BNB: -2.03%
- ZEC: -6.75%
- DOGE: -5.06%
- TRX: -2.92%
- SUI: -5.98%
- PEPE: -6.11%
Top 24-hour gainers (data source: OKX):
- SNT: +18.64%
- NES: +13.19%
- STX: +13.11%
- SD: +9.88%
- ZRO: +9.19%
- xSMCI: +8.98%
- BICO: +8.56%
- xAPLO: +7.57%
- VELO: +6.82%
- xHOOD: +6.4%
Top 24-hour crypto-equity gainers (data source: msx.com):
- SRM.M: +51.49%
- CAN.M: +14.47%
- MRNA.M: +13.59%
- LITX.M: +12.97%
- GAME.M: +12.8%
- BEX.M: +12.57%
- OKLO.M: +12.17%
- CLPT.M: +11.4%
- IREX.M: +11.33%
- GEMI.M: +10.98%
- INV.M: +10.95%
- SEGG.M: +10.67%
2. Top 5 On-Chain Meme Coins (data source: GMGN):
- Pistacio (Solana)
- PrinterlnkCoin (Base)
- DTF (Robinhood Chain)
- Sue (BSC)
- Eighteen Bro (BSC)
Headlines
Former X Product Lead: X to Soon Support Partial Cryptocurrency Trading Features
Nikita Bier, former Head of Product at X, responded to comments that "crypto is rising because I no longer ban CT," stating, "I built Cashtags, allowing users to add Solana and Ethereum charts directly in posts, and the trading button is coming soon. Users can even paste contract addresses to view newly minted tokens. Before I joined X, there were no features on X for crypto traders. The bull market is just beginning because the Treasury has announced it will buy back bonds and devalue the US dollar."
Aqua 1 Foundation, an investment firm based in the UAE, previously spent $100 million to purchase WLFI tokens issued by the Trump family's crypto project World Liberty Financial, surpassing Justin Sun's cumulative investment of $75 million to become the largest buyer of WLFI. Reports state that Zhou Guren, born in Shanghai in 1984, is the actual controller of Aqua 1.
According to reports, Zhou Guren is currently still listed as a dishonest debtor by China's Enforcement Information Disclosure Network, involving 6 cases with total debts amounting to tens of millions of yuan. Additionally, a recent indictment provided by the UK's Crown Prosecution Service shows that Zhou Guren is also involved in a UK money laundering case.
US ADP Employment Change for Week Ending Aug 8 at 11,750, vs Previous 9,500
The US ADP employment change for the week ending August 8 was 11,750, compared to the previous reading of 9,500.
Industry News
Expected to Be Under $57 Million, India Plans to Issue Its First Tokenized Bond in September
India plans to issue its first tokenized bond in September, issued by state-owned power finance company REC, with an expected size of less than 5 billion rupees (approximately $57 million). Indian market regulators and the central bank are jointly promoting the pilot, with bond issuance and settlement to use blockchain technology. The bond is expected to be launched during the annual fintech conference in Mumbai in September, initially available only to a small group of investors.
The US State Department is preparing to have diplomats return to Middle East embassies that were evacuated before and during the Iran war, indicating that the Trump administration expects full-scale hostilities will not break out again. According to an internal State Department document obtained by The New York Times, US diplomatic missions in the Middle East could begin returning diplomats as early as this week and gradually scale back emergency measures previously adopted. Three US officials also confirmed the adjustments. The document shows that embassies planned to restore higher staffing levels include those in Israel, Lebanon, Saudi Arabia, Qatar, Jordan, Oman, Iraq, and Kuwait.
Japan Plans Blockchain-Based Instant Settlement System Covering Stocks and Government Bonds
Japan is preparing to build a blockchain-based payment infrastructure to enable instant settlement of stock and Japanese government bond transactions. The Financial Services Agency, Ministry of Finance, Bank of Japan, and relevant financial institutions will launch a research group this summer, with a development plan to be formulated as early as early 2027, covering blockchain design, division of responsibilities among institutions, and a future roadmap. If the plan receives official approval, the system could be built within a few years, potentially becoming operational as early as the early 2030s, and may further expand to international remittance. Currently, cash settlement for Japanese stock trades is completed two days after execution, while government bond trades settle the next day. A real-time settlement system would eliminate the time gap between trade execution and fund settlement, allowing investors to reinvest proceeds almost immediately after selling assets.
Thai SEC Seeks Public Comments on Crypto ETF Draft
The Securities and Exchange Commission of Thailand is seeking public comments on proposed rules for Bitcoin and Ethereum spot ETFs. The draft also involves adjustments to eligibility criteria for foreign custodians. Digital asset ETFs must be established and managed by licensed asset management companies and are subject to existing ETF rules and digital asset investment requirements.
Project Updates
Zach Witkoff, CEO of Trump family-affiliated crypto project World Liberty Financial (WLF), stated that the market performance and actual usage of the USD1 stablecoin prove the project does not have the conflict of interest issues raised by outsiders.
In response to external questions about whether World Liberty Financial might be channeling funds to Trump and his family through USD1, Zach Witkoff said such concerns are exaggerated, emphasizing that he has never discussed and will never discuss business matters with President Trump, and is currently focused on enhancing the practical value of WLF products for users.
Dunamu, the operator of South Korean cryptocurrency exchange Upbit, responded to rumors of a US listing, confirming that the company has indeed been in contact with the US Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). However, no decision has been made regarding a US listing, and the company has not yet converted its financial reporting accounting standards to US GAAP.
The Hyperliquid Policy Center stated on X that the world's largest perpetual contract market has developed in offshore regions because US regulators have not yet answered a fundamental question: are these products futures or contracts? The US Commodity Futures Trading Commission (CFTC) began answering this question in May, allowing the first batch of perpetual contracts to be listed as futures on US exchanges. Now, the Hyperliquid Policy Center has applied to the SEC and CFTC for confirmation that equity perpetual contracts can be listed as security futures. This confirmation would provide the necessary regulatory clarity for related products to return to onshore markets.
Investments & Fundraising
YZi Labs announced that 24 early-stage companies have been selected for Season 4 of its flagship incubation program EASY Residency, with each receiving a $500,000 investment. The season runs for 10 weeks, starting online before founders gather in Bhutan, focusing on next-generation global financial infrastructure, covering areas such as stablecoin payments and cross-border settlement, on-chain FX and credit, neobanking, institutional-grade liquidity and market making, digital asset privacy compliance and financial operations, AI agents and automated execution, on-chain financial consumer and enterprise interfaces, and AI-native security and creator infrastructure. YZi Labs manages over $10 billion in assets, with an investment portfolio spanning more than 300 projects across Web3, AI, and biotech.
Prediction Market Kalshi Raises Approximately $1.12 Billion via Equity Financing
According to SEC filings, prediction market Kalshi has raised approximately $1.12 billion through equity financing, with a total offering size of $1.5 billion.
People & Voices
Strive CEO: Bitcoin Bull Market Is Just Beginning, Company Remains All-In
Matt Cole, CEO of Strive, stated on X that February 19 marked the bottom of the current bear market for ASST. Despite extreme market pessimism toward the company at the time, his belief in Bitcoin and the company's long-term strategy remained unchanged. During that period, company executives and directors also used personal funds to purchase ASST shares, and some directors resigned from the board to join the company full-time.
