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UMX, incubated by Avenir Group under Li Lin, has launched public testing, bridging cryptocurrency assets and securities trading

On August 10, UMX (The Unified Market Exchange), incubated by Avenir Group under Li Lin, announced the launch of an invitation-only public beta. UMX is positioned as a crypto-friendly securities platform for global professional investors, supporting spot, leverage, contract, and options trading of crypto assets, while also supporting real US stocks, ETFs, and US stock options trading. The aim is to connect crypto assets and real securities trading on the same platform, enhancing the capital efficiency of cross-asset trading.The public beta focuses on opening the capital link between crypto assets and securities accounts, supporting functions such as stablecoin exchange transfers, non-stablecoin collateralized lending, fiat account withdrawals and deposits, and the mutual conversion of securities holdings and stock tokens. To enhance cross-asset capital efficiency, the platform introduces a cross-asset margin mechanism, allowing financial assets to be used as margin. During the public beta, BTC and USDT financial products will also be launched, with the highest annualized returns reaching 2.5% and 5.5%, respectively. This public beta is invitation-only, and users who have not yet obtained a public beta code can reserve the official version and participate in the early bird benefits program.

hot_img Yushu Technology goes public, founder Wang Xingxing's net worth may exceed 18.3 billion yuan

Yushu Technology disclosed its issuance announcement for the Sci-Tech Innovation Board on August 6, determining the issuance price at 150.80 yuan per share, with a total issuance of 40.4464 million shares, accounting for 10% of the total share capital after issuance, raising approximately 6.099 billion yuan, corresponding to a market value of about 60.99 billion yuan. Founder Wang Xingxing holds a total of 33.36% of the shares directly and indirectly, corresponding to a net worth of approximately 18.312 billion yuan, a significant increase from 6.69 billion yuan when he appeared on the New Fortune Rich List in 2025.The company has established two employee stock ownership plans to participate in strategic allocation, with a total allocation of 1.8004 million shares, covering 171 core employees. Among them, Plan 1 covers 161 middle-level backbones, and Plan 2 covers 10 management and core technical leaders, with a maximum lock-up period of 36 months. Nine strategic investors have collectively been allocated 8.0893 million shares, accounting for 20% of the total issuance, among which DeepSeek was allocated 930,000 shares, and Shanghai Qishan Investment, a subsidiary of Tencent, was allocated 903,300 shares. Central enterprises in the energy and communication sectors, such as China Petroleum, Southern Power Grid, and Tianyi Capital, are also joining in. Online and offline subscriptions will begin on August 10.
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