Evening News | Arthur Hayes claims the crypto market may face a "massacre"; former SoftBank CEO has allocated 10% of his investment portfolio to Bitcoin
South Korean veteran fund management company Hillstone Partners has established a $1 billion NFT special fund in collaboration with Abu Dhabi Capital Group.Organizer: Linqi, Chain Catcher
"What important events have occurred in the past 24 hours?"
1. South Korean veteran fund management company Hillstone Partners establishes a $1 billion NFT special fund in collaboration with Abu Dhabi Capital Group
South Korean veteran fund management company Hillstone Partners has held a joint venture (JV) commercial signing ceremony with Abu Dhabi Capital Group (ADCG) in Dubai. This joint venture (JV) will establish its first joint fund valued at $1 billion, which will primarily invest in NFT-based blockchain startups, cryptocurrency exchanges, and other fields.
It is reported that Abu Dhabi Capital Group is a member of the royal family business in Abu Dhabi, United Arab Emirates. The joint venture is expected to be established in the first half of 2022 in Singapore or Dubai, with management led by Kim Hyung-joo, who has served as a member of the South Korean National Assembly, Deputy Mayor of Seoul, and is currently the president of the Korea Blockchain Industry Promotion Association. (Source link)
2. BitMEX founder Arthur Hayes writes that the crypto market may face a "bloodbath"
Former BitMEX CEO Arthur Hayes wrote today that although he remains optimistic about cryptocurrency prices in the long term, he believes the market is currently standing on the edge of a "catastrophic outcome" and cannot escape a "crypto bloodbath," citing three supporting arguments.
First, due to the ongoing and potentially escalating Russia-Ukraine war, global economic growth will decline due to rising commodity prices, which will harm stock prices. If the Nasdaq 100 index falls, it will drag down cryptocurrencies; second, falling interest rates often support the Nasdaq 100 index, while the world is currently seeing higher interest rates to combat inflation; third, the tech index has failed to rebound significantly at key technical levels, indicating it may decline.
Hayes estimates that Bitcoin could fall to $30,000 by the end of June, while Ethereum could drop to $2,500, so he is hedging his positions by purchasing put options. (Source link)
3. ERC721R token standard officially released, allowing users to return minted NFTs for refunds
The ERC721R token standard has been officially released. This standard adds a trustless refund design to NFT smart contracts, allowing minters to return cost-minted NFTs within a given period and receive corresponding refunds. (Source link)
4. Cameroon, Congo, and two other countries plan to collaborate with the TON blockchain to launch cryptocurrency and blockchain-based solutions
According to a press release from The Open Network (TON), Cameroon, the Democratic Republic of the Congo, and the Republic of the Congo plan to adopt cryptocurrency and blockchain-based solutions to promote future economic development, with the Democratic Republic of the Congo confirming it is considering establishing a national stablecoin based on the TON blockchain.
TON has been independently collaborating with these three countries for some time and is providing cryptocurrency and blockchain solutions for them. These countries will gradually transition to adopting cryptocurrency as a core pillar of their economic structure.
It is understood that The Open Network (TON) is a PoS blockchain originally designed by the Durov brothers, founders of Telegram Messenger, in 2018, and has since been handed over to the open TON community, which has been supporting and developing the TON blockchain. (Source link)
5. Former SoftBank CEO has allocated 10% of his investment portfolio to Bitcoin
In a panel discussion at the Bitcoin 2022 conference, former SoftBank CEO Marcelo Claure stated that he now allocates 10% of his investment portfolio to Bitcoin. Claure mentioned that concerns about the potential upcoming economic recession prompted him to increase his BTC holdings by 80-90%.
It is reported that Marcelo Claure resigned from SoftBank in January this year and is currently the chairman and CEO of investment firm Claure Capital. (Source link)
"What are some great articles worth reading in the past 24 hours?"
From April 6 to 9, 2022, the world's largest Bitcoin conference, "Bitcoin 2022," was held in Miami, USA, attracting over 35,000 attendees, including numerous politicians, crypto enterprises, financial tycoons, tech elites, and industry celebrities. So, what were the highlights of this year's Bitcoin conference?
2. "Hasu talks to Suzhu: How do global macro markets affect the crypto industry?"
In this episode of the podcast, Hasu, the strategic head of Flashbots, discusses the development trends of the crypto industry with Suzhu, the founder of Three Arrows Capital, from the perspectives of macroeconomic development, national decline, and the rise of sovereign individuals.
