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first_img Variant Fund Investment Partner: The bottom of the cryptocurrency market may have appeared in July, and three types of assets will benefit from the market recovery

Variant Fund investment partner Alana Levin stated in her market thoughts for Q4 2026 that the bottom of the crypto market likely occurred at some point in July. She wrote in early July that the bottom seemed close, with Bitcoin at $59,000, Ethereum at $1,600, and ZEC at $420. She mentioned that the question has shifted to whether the bull market is genuinely starting or if it's a false rally, and which projects will benefit the most in the early bull market, assuming the market is in the early stages of a new crypto bull market.Levin indicated that the increasingly formed consensus is that marginal funds are most likely to flow into value storage protocols as currency and protocols that can generate income. She believes Bitcoin is the dominant asset for digital value storage currently, while other competing assets may be valued based on their market capitalization relative to Bitcoin's market cap and its changes. For income-generating protocols, she expects investors to examine whether the income comes from crypto-native activities (like Pump) or traditional financial activities (like Hyperliquid), whether it persists during market downturns, and profit margins; projects with exposure to real-world assets and stablecoin growth, which are expected to attract institutional users and are still led by founders after surviving a bear market, are more likely to achieve higher multiples.She also categorized on-chain projects that can benchmark against non-crypto businesses as a third category, believing that most belong to narrative trading rather than long-term investment. Themes include routing, reasoning, computing power, data collection, and interface-related directions in artificial intelligence, and she is skeptical about whether most scenarios require blockchain; if such projects significantly outperform, she would view it as a signal of nearing the top.

first_img BitMart announced the preliminary redemption plan, and users can choose from three exit paths

The cryptocurrency exchange BitMart has released a preliminary intention plan, stating that it will review its assets and liabilities and formulate response arrangements starting from August 2026. The plan was formed during the initial due diligence conducted by Alvarez & Marsal and White & Case; users can choose front-end allocation or potentially higher recoveries from sources that may be recovered and liquidated later. The management team stated that they will continue to cooperate.BitMart stated that the total market value of the cryptocurrency market decreased in 2026, with volume manipulation groups profiting from commission and zero slippage policies in contract business, while fee-based services turned into losses; a hacker attack in December 2021 resulted in a balance sheet gap of approximately $319.5 million based on the value as of December 4, 2021. Starting from May 2026, social media attacks triggered panic withdrawals, and related personnel faced risks of personal information leakage. After evaluating a $10 million liquidity proposal from an investor, the management deemed it insufficient to cover operational pressures and gaps.The plan proposes to convert outstanding account balances into dollars based on the weighted average price from July 26, 2026, to the time of recording, to be verified by an independent party appointed by the court. Users can receive a proportional front-end allocation of fiat currency, USDC, PYUSD, USDT, and liquid assets such as BTC, ETH, SOL, or participate in the recovery of stolen assets by exchanging for recovery tokens at a rate of 1 unit per $1, or exchange for continuation tokens that can be traded on decentralized exchanges, corresponding to investment rights, non-standard asset liquidation, and a portion of distributable profits after business restart. In the next three to four weeks, feedback will be solicited from the top 50 users, and a report on the expected recovery ratios for each option will be compiled.

MoonPay establishes a subsidiary in South Korea to collaborate with three major banks to enter the Asia-Pacific region, CEA Industries is renamed BNB Standard to focus on treasury strategy

According to BBX data, yesterday global publicly listed companies in the US stock market and well-known Web3 infrastructure providers disclosed the latest developments on expansion in the Asia-Pacific hub, institutional collaborations, and brand strategy restructuring. The core information is as follows:MoonPay established a subsidiary in South Korea as the Asia-Pacific hub, partnering with KakaoBank, Woori Bank, and KB Financial Group: Global cryptocurrency payment infrastructure giant MoonPay officially announced the establishment of a wholly-owned subsidiary in South Korea, planning to make it a comprehensive expansion center for the group in the Asia-Pacific region. At the same time, MoonPay has reached deep strategic cooperation with South Korea's three major mainstream financial institutions—KakaoBank, Woori Bank, and KB Financial Group. The scope of cooperation includes cross-border payment clearing, localization distribution of the Korean won stablecoin, digital wallet technology integration, and the establishment of compliant cryptocurrency fiat withdrawal and recharge channels, aiming to build a high-speed network for the flow of funds between South Korea and the global Web3.CEA Industries officially renamed to "BNB Standard," Nasdaq trading code changed to "BNC": Nasdaq-listed company CEA Industries, focusing on BNB reserve strategies, announced the completion of its brand transformation and strategic renaming, with the company name officially changed to BNB Standard. After the renaming, the company's common stock will continue to be traded on the Nasdaq Capital Market, and the securities trading code will be officially changed to "BNC." This renaming aims to directly highlight its strategic positioning of using BNB as a core treasury asset and promoting decentralized ecological investment.

first_img Cryptocurrency payment company MoonPay established a subsidiary in South Korea, collaborating with three banks

Cryptocurrency payment company MoonPay announced the establishment of MoonPay Korea and is collaborating with South Korea's digital bank KakaoBank, commercial bank Woori Bank, and KB Financial Group to expand stablecoin payments and digital asset services in South Korea. MoonPay Korea will be responsible for local service development and will serve as the company's base for expansion in Asia. MoonPay's Asia-Pacific head Bugeon Lee stated that the stablecoin backed by the Korean won is expected to expand the coverage of South Korean financial institutions and provide new cross-border transaction methods for businesses, as the company hopes to build relevant infrastructure in South Korea with banking partners.The collaboration with KakaoBank focuses on blockchain-based overseas remittances, cross-border payments, and multi-currency stablecoin services. The two parties plan to initially conduct a proof of concept aimed at international students, testing the complete process of initiating transfers from South Korea, transferring via stablecoin, and converting to US dollars for deposit into a US bank account. The collaboration also covers the issuance and distribution of won-pegged stablecoins, payment settlements, as well as trading, custody, and conversion of stablecoins denominated in won, US dollars, yen, and others, with access to MoonPay's global distribution and payment network supported by assets and regions.MoonPay will collaborate with Woori Bank to provide global distribution for future won-pegged stablecoins and validate the cross-border payment settlement model for local businesses based on stablecoins. The partnership with KB Financial Group will explore card payments, global remittances, wallet custody, and stablecoin usage for individuals, institutions, and foreigners in South Korea. Founded in 2019, MoonPay claims to serve over 30 million customers in approximately 180 countries and supports more than 1,700 business clients.
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