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PEPE buyers are attempting to step in at the current levels. A good sign for some crypto coins would be to retake that pre-election level where the previous rally started. PEPE has been relatively strong the past few days, especially compared to other bigger memes.
Durov had been required to remain in the country since his arrest seven months ago.
Quick Take International bank Standard Chartered has slashed its 2025 ether price target by 60% from $10,000 to $4,000, citing factors like Base’s growing market share. The Bank of Korea has ruled out the idea of creating a bitcoin reserve, citing its high volatility.
Quick Take The GMCI Meme index’s largest holdings have faced substantial selling pressure as speculative traders exit. The following is an excerpt from The Block’s Data and Insights newsletter.
Quick Take Magic Eden saw an explosive but short-lived surge in Ordinals trading, with daily volume averaging nearly $50 million for eight days, driven by the Idiots NFT mint. The following is an excerpt from The Block’s Data and Insights newsletter.
Quick Take Offchain Labs introduced the Onchain Labs initiative, which focuses on developing new decentralized applications for Arbitrum. The initiative was launched in partnership with the Arbitrum Foundation and will provide support for early-stage developers and teams.
- 10:28SlowMist CISO: Core Administrator of XSS.is, the World’s Largest Dark Web Crime Platform, ArrestedOdaily Planet Daily News: SlowMist’s Chief Information Security Officer (CISO) 23pds posted on the X platform that the core administrator of XSS.is, the world’s largest darknet crime platform, has been arrested. This platform has been active for a long time and is one of the main marketplaces for Stealer tools (information stealers) in the cryptocurrency industry.
- 10:17Crypto mining firm Bitzero secures $25 million in funding to expand mining operationsAccording to a report by The Block, covered by Jinse Finance, cryptocurrency mining company Bitzero has secured $25 million in funding to expand its mining operations. The company plans to use part of the funds to purchase 2,900 Bitmain S21 Pro mining machines. Bitzero stated that these high-efficiency devices will be fully deployed within four to six months, are expected to generate an additional $10 million in annual revenue, and will further lower the company’s breakeven point. Company President and CEO Mohammed Bakhashwain said, "This new funding enables us to continue building on our success, accelerate the deployment of top-tier mining technology, and expand our leadership in the sustainable and profitable data center sector."
- 09:53DBS Raises ZhongAn Online Target Price to HKD 24, Optimistic About Potential Growth in Stablecoin BusinessAccording to a report by Jinse Finance, DBS has released a research report stating that ZhongAn Online's underwriting profit further improved in the first half of the year, with premium growth of 9.3% in line with expectations, driven by medical and auto insurance. RD Tech, in which the group holds an 8.6% stake, is among the first institutions in Hong Kong to apply for a virtual asset issuer license and is expected to receive approval by the end of 2025. The bank believes that ZA Bank is likely to achieve breakeven in 2025, laying the foundation for a potential initial public offering. Given the potential growth in the stablecoin business, the bank has raised ZhongAn Online's target price from HKD 20 to HKD 24 and maintained a "Buy" rating.