Author: TechFlow
Market Dynamics Yesterday
Market News: SEC Delays Review of Truth Social and Grayscale Cryptocurrency ETF Applications
According to market sources: The U.S. Securities and Exchange Commission (SEC) announced a delay in the review decision for two cryptocurrency ETF applications:
Truth Social's spot Bitcoin ETF application
Grayscale's spot Solana ETF application
Cboe Submits Canary Staked INJ ETF and Invesco Galaxy Solana ETF Application Files
According to The Block, Cboe BZX Exchange has submitted an exchange-traded fund application to the SEC tracking the native asset INJ of the Injective blockchain. The fund is managed by Canary Capital Group LLC. On the same day, Cboe BZX also submitted an application for the Invesco Galaxy Solana ETF.
Currently, the SEC is reviewing dozens of digital asset fund proposals, covering cryptocurrencies such as DOGE, SOL, and XRP.
Arbitrum Foundation to Invest $14 Million in Ecosystem Project Security Audits
According to The Block, the Arbitrum Foundation announced that after receiving approval from ArbitrumDAO, it will launch a network security audit subsidy program. The program will distribute 30 million ARB tokens (approximately $14 million) over 12 months to fund security audits of smart contracts for blockchain projects built on the Arbitrum network.
The program primarily targets two types of projects: early-stage projects with product-market fit and mature projects planning significant upgrades. Project teams must use security audit companies from a pre-approved list of auditors, which will be published this week.
PayPal Launches Cryptocurrency Payment Service, Supporting Over 100 Digital Currencies for U.S. Merchants
According to Fortune, PayPal announced a new payment service for U.S. small and medium-sized merchants, supporting payments in over 100 cryptocurrencies, including Bitcoin and Ethereum. The service will be provided through PayPal's online payment processing platform, with a transaction fee of 0.99% in the first year, adjusting to 1.5% thereafter.
During the transaction settlement, users can connect their existing cryptocurrency wallets to the payment page, and the system will convert cryptocurrencies to PayPal stablecoin PYUSD through Binance or decentralized exchanges, which will then be converted to U.S. dollars for merchant payment.
Collectible Tokenization Market Courtyard Completes $30 Million Series A Funding, Led by Forerunner Ventures
According to Fortune, New York-based collectible tokenization platform Courtyard has completed a $30 million Series A funding round, led by Forerunner Ventures, with participation from NEA and Y Combinator.
Founded in 2021 by former YouTube employee Nicolas le Jeune and former Apple software engineer Paulin Andurand, Courtyard tokenizes physical collectibles like Pokémon and sports cards into Non-Fungible Tokens, enabling trading, custody, and exchange, with vending machines for unpacking and instant buyback options.
Nano Labs Increases BNB Holdings to 128,000, Strategic Reserves Exceed $100 Million
Nasdaq-listed Nano Labs (Nasdaq: NA) announced today that it has increased its BNB holdings to 128,000, valued at over $108 million at the current market price of $850 per coin. The company recently purchased 8,000 BNB through over-the-counter trading at an average price of $801 per coin, with an overall average holding cost of $713 per coin.
U.S. Medical Company Liminatus Pharma to Raise $500 Million for BNB Investment
According to BusinessInsider, Nasdaq-listed biopharmaceutical company Liminatus Pharma (NASDAQ: LIMN) announced today plans to establish a subsidiary called "American BNB Strategy," aiming to raise and invest up to $500 million in Binance's native token BNB. The company stated that this move is based on the long-term growth potential and robustness of the BNB ecosystem, not short-term speculation.
CEA Industries and 10X Capital Conduct $500 Million Private Placement to Establish BNB Treasury
According to StreetInsider, CEA Industries and 10X Capital announced a $500 million private placement supported by YZi Labs to establish a BNB treasury. The two institutions will expand the PIPE issuance, with over 140 subscribers participating, including YZi Labs, Pantera Capital, Arche Capital, GSR, Borderless, Arrington Capital, Blockchain.com, Hypersphere Capital, and Kenetic.
Zhaogang Group and Yuan Coin Group Sign Strategic Cooperation Memorandum to Explore Stablecoin Applications
According to the official announcement, Zhaogang Group (6676.HK) and Yuan Coin Group signed a strategic cooperation memorandum, planning to promote the "Steel Searcher" brand in building an international digital commodity trading platform and explore using Hong Kong dollar-denominated stablecoins (such as HKDR) for cross-border trade settlement. RD Holdings of Yuan Coin Group is one of the first three companies to receive a "sandbox" qualification for stablecoin issuance under Hong Kong Monetary Authority regulation.
TRON INC Submits $1 Billion Mixed Securities Offering Application to the U.S. Securities and Exchange Commission
According to Reuters, TRON INC has submitted a mixed shelf securities offering application to the U.S. Securities and Exchange Commission (SEC), with an upper limit of $1 billion.
Market Dynamics
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