PA Daily | Tiger Securities launches BTC and ETH charging services; Abraxas Capital purchases US$561 million in ETH in the past week
Reprinted from panewslab
05/14/2025·1MToday's news tips:
Pudgy Penguin CEO: Abstract Chain's TGE is expected to be held in Q4
Sentora: $1.2 billion ETH proposed from CEX in the past 7 days, seller pressure reduced
Abraxas Capital has purchased ETH positions in the past week reaching US$561 million
LAUNCHCOIN, a trader bought for $9,075 a month ago, is currently worth $4.7 million
Synthetix community proposes to acquire decentralized options platform Derive at $27 million
Regulatory/Macro
According to CoinDesk, Standard Chartered Bank announced a partnership with digital asset broker FalconX to provide institutional investors with more convenient cryptocurrency services. FalconX will take advantage of Standard Chartered's banking infrastructure and foreign exchange capabilities to start with operations in Singapore and then expand to other parts of Asia, the Middle East and the United States. This partnership is the first time FalconX has established a partnership with traditional global banks. Matt Long, general manager of FalconX Asia Pacific and Middle East, said this will enhance its ability to "provide robust banking and forex solutions to customers in crypto markets." Standard Chartered Bank has actively deployed in the crypto field in recent years, including launching custody services in the UAE and establishing digital asset subsidiaries in the EU.
According to the Economic News Agency, Tiger Securities (Hong Kong) has launched a cryptocurrency deposit currency service, supporting virtual currency deposit, transaction and withdrawal. The mainstream virtual currencies supported include mainstream cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH). The platform is also a licensed virtual asset trading service app of the China Securities Regulatory Commission in Hong Kong. Tiger Securities has also launched a promotional event. From 12:00 noon on May 14, 2025, anyone who successfully deposits cryptocurrency into a Tiger Trade account for the first time and reaches 0.01 Bitcoin (BTC) or 0.5 Ethereum (ETH), and maintains a net asset of no less than 0.01 BTC or 0.5 ETH for 60 consecutive days, you can receive a Coinbase (US.COIN) stock reward worth HK$200.
Fed committee warns stablecoins could pose risks to bank deposits and credit capabilities
Recently disclosed minutes of the meeting on April 10 showed that members of the Federal Reserve's Community Deposit Institutions Advisory Committee (CDIAC) expressed concerns about stablecoins issued by non-bank institutions. The committee believes that such stablecoins could accelerate bank deposit outflows and weaken community banks’ ability to provide loans to small and medium-sized enterprises and households. The committee compared stablecoins to the impact of money market funds on the banking industry at the end of the 20th century, pointing out that they, like central bank digital currency (CBDC), may divert the deposit base of the banking system. It particularly emphasized that the current stablecoins are not subject to the same liquidity regulatory requirements, which may lead banks to reduce their credit scale, especially affecting small borrowers who rely on local banking services. The committee recommends that stablecoins be included in the financial stability regulatory framework, requiring unified standards for banks and non-bank issuing institutions to prevent regulatory arbitrage. This position echoes the statement made by Federal Reserve Chairman Powell on April 16 - although he acknowledges the wide appeal of stablecoins, he emphasizes the need to establish an appropriate regulatory system.
Gibraltar will establish crypto derivative clearing and settlement rules to enhance market integrity
According to CoinDesk, the Gibraltar government said it plans to formulate the world's first cryptocurrency derivatives clearing and settlement rules and build a regulatory framework to enhance market integrity and reduce major risks. The Gibraltar government has partnered with the Gibraltar Financial Services Commission (GFSC) and cryptocurrency exchange Bullish to build a framework that adapts traditional financial clearing regulatory provisions to the virtual asset market. Bullish said Tuesday that the framework will allow approved clearing houses to clear and settle virtual asset derivative contracts; many virtual asset exchanges have been performing this function, but in the absence of regulatory oversight, it could lead to problems in the liquidation process. The proposed system will allow for the establishment of independent clearing houses that will have “higher transparency and capital adequacy”.
According to Bitcoin.com, Nasdaq-listed company DeFi Development Corp (formerly real estate software company Janover) announced that it would purchase 172,670 SOL tokens at an average price of $136.81 per coin, totaling approximately $23.6 million. This is the company's largest SOL token acquisition transaction to date and the tenth acquisition under its digital asset treasury strategy. After the transaction is completed, the company currently holds a total of 595,988 SOLs, including pledge rewards, worth approximately US$102.7 million. The newly purchased SOL will be held for a long time and pledged to multiple verification nodes, including the company's own SOL verification nodes to generate profits. The program continues to update the dynamics of its treasury and investment strategies through public statements and regulatory documents.
Viewpoint
Analysis: Bitcoin's recent rise may be dominated by institutions, and retail trading has not entered
According to the latest analysis of Matrixport, Bitcoin's price has approached its historical high recently, but the overall trading volume is still sluggish, especially in the South Korean market where retail investors are more active, the current trading volume is still at a relatively low level. This suggests that the rise may be driven mainly by institutional and corporate buyers, while retail investors have not yet entered the market clearly. Looking back at the historical trend, retail investors often enter the market in the later stage of the market, becoming the last push before the local top, such as the market in February and November 2022. If history repeats itself, the next round of highs may usher in concentrated entry from retail investors before the next round of highs approaches.
US President Trump said in his speech at the "US-Saudi Investment Forum" that the stock market will rise sharply.
Patrick McHenry, former chairman of the House Financial Services Committee, revealed that former Securities and Exchange Commission chairman Gary Gensler is not as anti-cryptocurrency as he acts in public. "I think it's more about Senate politics and the political considerations in the confirmation of the nomination process," McHenry said.
Project News
Binance Wallet announced that users must meet specific Alpha points conditions before they can participate in the exclusive Privasea AI TGE event. Specific conditions include: having 198 points or more Alpha points, or points between 162 and 197 and Binance UID ends with a number 0. Users who meet the criteria must confirm participation on the Alpha Events page and will be deducted 15 points. Previous news, Binance Wallet will start the 16th TGE project on May 14: Privasea (PRAI).
Binance Alpha launches Bluefin (BLUE)
According to the official platform, Binance Alpha is launched on Bluefin (BLUE).
Binance Alpha and Binance Contracts to Become NEXPACE (NXPC)
According to the official announcement, Binance Alpha will launch and open NEXPACE (NXPC) transactions on May 15, 2025 at 14:00 (East Eighth District Time). In addition, the Binance Contract Platform will launch the NXPCUSDT perpetual contract at 14:30 on May 15, 2025 (East Eighth District time), with a maximum leverage of up to 50 times. As a online benefit, all eligible Binance users will receive Binance exclusive token airdrops. Qualified users need to use Binance Alpha points to receive airdrops through the Binance Alpha event page from 14:00 on May 15, 2025 (East Eight Time) to 13:59 on May 16, 2025 (East Eight Time). Users can access the Binance Alpha activity page through the search function of the Binance App.
Synthetix community proposes to acquire decentralized options platform Derive at $27 million
According to the official blog, the Synthetix community proposes to acquire the decentralized options platform Derive at a valuation of $27 million. According to the SIP-415 proposal, the transaction will be exchanged with DRV and SNX tokens at a ratio of 27:1, and Synthetix will issue 29.3 million SNX tokens (3-month lock-in + 9-month linear release) to complete the acquisition. The transaction is subject to approval by Synthetix's Spartan Council and Derive Governance Agency. The acquisition will allow Synthetix to integrate Derive's order book perpetual contract trading technology and development team to accelerate the construction of the Ethereum mainnet derivatives agreement. The Derive team's experience in modular order book design and option mechanisms will directly enhance Synthetix's core competitiveness. Its developed App-chain technology stack can be deployed to the main network immediately. Derive was formerly Lyra and was once a Synthetix ecological project. This acquisition is the third ecological integration action of Synthetix after recapturing Kwenta and TLX in the past six months. Founder Kain Warwick said this will simplify protocol architecture and governance and promote the development of derivatives platforms. If the transaction is approved, Derive's vault assets, intellectual property and governance systems will be all incorporated into the Synthetix Agreement.
Arbitrum invests $10 million in blockchain gaming projects, with five projects already funded
According to NFT Plazas, Ethereum Layer2 network Arbitrum announced that it would invest $10 million in blockchain gaming projects through its newly established venture capital plan Arbitrum Gaming Ventures. The funding part of the $200 million program funded by Arbitrum DAO is focused on supporting early-stage projects within the Arbitrum ecosystem, the first major funding under the program, with venture capital firms Paradigm, Framework Ventures and BITKRAFT involved. Five projects have been funded to cover game development and infrastructure, including multiplayer competitive game Wildcard, game-specific Rollup solution Hyve Labs, Arbitrum Orbit-based Layer3 game chain Xai, Chain Game Studio Proof of Play and T-Rex, an infrastructure focused on consumer blockchain.
Upbit will launch NXPC in Korean won, BTC and USDT markets
PANews reported on May 14 that according to the official announcement, South Korean crypto exchange Upbit will launch NXPC in the Korean won, BTC and USDT markets, and the transaction will be announced later.
Pudgy Penguin CEO: Abstract Chain's TGE is expected to be held in Q4
Pudgy Penguins CEO Luca Netz revealed in an interview that the Token Generation Event (TGE) of Abstract Chain, Ethereum Layer2 network, is expected to take place in the fourth quarter of 2025.
Circle announces that native USDC is now available for Sonic chain
According to official news, Circle announced that native USDC has now launched Sonic chain, completing the transition from bridging USDC to native USDC. Before the upgrade, the supply of bridged USDCs on Sonic reached 500 million. After the upgrade, the CCTV V2 version was launched and Hooks were introduced to support automated operations.
Coinbase announces that it will launch cbADA, cbDOGE, cbLTC, cbXRP
According to official news, Coinbase announced that it will launch cbADA, cbDOGE, cbLTC, and cbXRP. It is not available or available yet and will be announced to be officially launched at a later date. cbADA, cbDOGE, cbLTC and cbXRP are bridged tokens of Coinbase, corresponding to wrapped versions of Cardano (ADA), Dogecoin (DOGE), Litecoin (LTC) and Ripple (XRP). They are designed specifically for Coinbase's Ethereum Layer2 network base, and cbBTC has been launched previously.
Important data
Sentora: $1.2 billion ETH proposed from CEX in the past 7 days, seller pressure reduced
According to Sentora monitoring, in the past seven days, a total of US$1.2 billion worth of Ethereum has been filed from centralized exchanges. This continued net outflow trend has been intensifying since early May, indicating that the accumulation of Ethereum in the market is increasing, while sellers are under reduced pressure.
39,368 ETHs were transferred from Binance to unknown wallet, which is approximately US$104.4 million
According to Whale Alert monitoring, 39,368 Ethereum (approximately US$104.4 million) were transferred from Binance to an unknown wallet at 15:40.
LAUNCHCOIN, a trader bought for $9,075 a month ago, is currently worth $4.7 million
According to Lookonchain monitoring, a trader turned $9,075 into $4.7 million through trading LAUNCHCOIN, with a return rate of 515 times. He bought 20.3 million LAUNCHCOINs a month ago for $9,075, and now the tokens are worth $4.7 million.
According to Onchain Lens monitoring, a giant whale once again deposited 11.9 million USDC into HyperLiquid, increasing its short positions on BTC, ETH and SOL with 5 times leverage. The total deposit amount has reached 62.4 million USDC. At present, the total value of all short positions has exceeded US$250 million, from a profit of US$6.8 million yesterday to a loss of US$7.6 million today.
Abraxas Capital has purchased ETH positions in the past week reaching US$561 million
According to Lookonchain monitoring, Abraxas Capital borrowed USDT to buy more Ethereum. As of yesterday's monitoring, Ethereum's price was $2,460, and now it has exceeded $2,700 - an increase of about 10%. Abraxas Capital has purchased 242,652 ETH (worth $561 million) in the past week.
Financing
Antix, a platform focusing on surreal AI digital people, announced that it has completed a private equity financing of US$8.2 million, and received support from more than 10,000 community investors. It plans to introduce surreal AI digital people into blockchain. It is reported that Antix has launched tokenized digital people and identity economy to protect and monetize digital content IP. Its AIGE engine creates emotionally rich digital people from images and casts into NFTs. The core features of the platform are powered by $ANTIX tokens and are scheduled to be launched in the beta version in summer 2025.
Blockchain company Gnosis acquires Singapore's HQ.xyz for $14.95 million
According to Techinasia, Gnosis acquired Singapore's on-chain financial operation platform HQ.xyz for US$14.95 million. The investment includes $8.95 million from the Gnosis DAO vault, which was approved by the DAO vote in January 2025, and $6 million from Gnosis Ltd. for operating expenses over the next two years. The acquisition is one of the largest investments in the Gnosis ecosystem. HQ.xyz will be renamed Gnosis HQ and integrated into the Gnosis ecosystem, which includes Gnosis Chain, Gnosis Pay, and related projects such as Safe and CoW Swap.
eToro and its supporters raise $620 million by expanding their IPO
According to Bloomberg, Israeli social investment platform eToro Group Ltd. and some shareholders raised nearly $620 million in the expanded U.S. initial public offering (IPO), priced higher than the previous publicity range. The company and its investors sold 11.92 million shares at $52 per share, a statement on Tuesday showed. Previous documents show that funds and accounts managed by BlackRock are interested in purchasing eToro stock worth up to $100 million at IPO prices. Calculated by the number of outstanding shares, this pricing puts eToro's market value of about US$4.3 billion, and its fully diluted valuation is nearly US$5 billion. eToro originally planned to promote the issuance of 10 million shares, with a price of $46 to $50 per share, but the actual price is higher, and the demand is several times that of the shares that can be issued. The statement also said that eToro provides 5.96 million shares, and Spark Capital and other affiliates and executives provide another 5.96 million shares, and reserves up to 500,000 shares for sale through the targeted share issuance program. The company's net contribution in 2024 was US$787 million and its net profit was US$192 million, up from the previous year, according to IPO documents. The IPO is led by Goldman Sachs and others, and eToro shares are expected to be listed on the Nasdaq Global Selected Market under ETOR as the code. Previous news, eToro's goal is to achieve a valuation of US$4 billion and a financing of US$500 million through a US IPO.
Coinbase invests in Canadian stablecoin issuer Stablecorp
According to Cointelegraph, Lucas Matheson, CEO of the Canadian branch of crypto exchange Coinbase, revealed during the Blockchain Futurist conference in Toronto that Coinbase has reached a partnership with Canadian stablecoin issuer Stablecorp to expand access to tokenized Canadian dollars. "The exchange is investing an undisclosed amount in Stablecorp and will help promote its fiat-collateralized stablecoin QCAD." Matheson stressed that Canada urgently needs a local stablecoin solution because the country lacks peer-to-peer payment infrastructure and traditional wire transfer fees are as high as CAD and take 45 minutes. He said: "Stablecoins can achieve instant cross-border payments 24/7, which is a feature that can be achieved by the existing technology."
SpaceComputer completes Pre-Seed round led by Primitive Ventures to create a space encryption system
SpaceComputer announced the completion of a Pre-Seed round of financing led by Primitive Ventures. Participants include Nascent, Tangent, Symbolic Capital, Public Works, Merkle Ventures and Star-Shield, and angel investors include Loi Luu, Sandeep Nailwal and Meltem Demirors. SpaceComputer is using satellites to build an encryption system that resists physical destruction and cyberattacks. It has launched its first product ctRNG to generate true random numbers using space entropy.
Perpl is led by Dragonfly to raise $9.25 million to build a sustainable DEX based on Monad
Perpl, a decentralized perpetual contract exchange, completed a financing of US$9.25 million, led by Dragonfly, with Ergonia, Brevan Howard, Breed, L1D and CMS participating. Perpl plans to develop the central limit order book on the Monad architecture development chain. The test network is expected to be launched at the end of the year. The main network will depend on the progress of the Monad main network. The project was formed by the American co-founder and moved to London for development due to regulatory issues.
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