Daily Report | Ark Investment reduces its stake in Coinbase for the first time in nearly a year; former Alibaba executive Zhang Dayong joins HashKey Group as Chief Business Officer

"What Important Events Happened in the Last 24 Hours"

1. Ethereum Layer 2 Solution Linea Plans to Launch Mainnet Alpha Version This Week

According to official news, the Ethereum Layer 2 solution Linea, launched by ConsenSys, announced the release of its mainnet Alpha version. Application developers will be able to deploy their projects to the Linea Alpha network on Friday, and users can access it starting next week.

It is reported that Linea had 5.5 million unique wallets submitting over 46 million transactions during its testnet phase, making it one of the largest and fastest-growing projects on Goerli. (Source link)

2. Enterprise-Level Liquid Staking Protocol Alluvial Completes $12 Million Financing, Led by Ethereal Ventures and Variant

Enterprise-level liquid staking protocol Alluvial announced the completion of a $12 million Series A financing round, led by Ethereal Ventures and Variant, with participation from Brevan Howard Digital, Coinbase Ventures, Kraken, Avon Ventures, IOSG Ventures, and IOBC Capital.

It is reported that the funds will be used to build the institutional-focused Ethereum staking protocol Liquid Collective. (Source link)

3. Cboe and Coinbase Reach Surveillance-Sharing Agreement for Five Proposed Spot Bitcoin ETFs

The Chicago Board Options Exchange (Cboe) submitted a revised application for five proposed spot Bitcoin ETFs, stating that it has reached an agreement with Coinbase on the terms to sign a surveillance-sharing agreement. Previous documents indicated that Coinbase was expected to sign this agreement.

The five proposed spot Bitcoin ETFs include Wise Origin Bitcoin Trust, WisdomTree Bitcoin Trust, VanEck Bitcoin Trust, Invesco Galaxy Bitcoin ETF, and ARK 21Shares Bitcoin ETF. (Source link)

4. Data: Tokenized U.S. Treasuries Surpass $600 Million

According to data compiled by real-world asset data company RWA.xyz, the market value of blockchain-based investment products that package U.S. Treasury bills, bonds, and money market funds into tokenized forms has reached $614 million.

Demand for tokenized Treasuries among cryptocurrency investors has been steadily increasing, as the yields on U.S. government bonds (widely considered a risk-free rate) have surpassed those of decentralized finance (DeFi), with the current Federal Reserve raising rates to their highest level since 2007. Additionally, this year, investor-focused blockchain-based Treasury products have been issued by OpenEden, Ondo Finance, and Maple Finance. (Source link)

5. Data: Bitcoin NFTs Trade Volume Reaches $28.28 Million in the Last 24 Hours, Surpassing Ethereum

According to the latest data from Cryptoslam, the total trading volume of Bitcoin on-chain NFTs in the last 24 hours reached $28.28 million, surpassing Ethereum, which had a trading volume of $14.16 million during the same period. (Source link)

6. 7-Eleven Launches Free Slurpee NFT on Polygon

7-Eleven has launched a free Slurpee NFT on Polygon to celebrate "Slurpee Day." This sugary collectible game is only available via mobile devices and features a virtual 7-Eleven Slurpee cup with four flavors.

Collectors can choose any one or all flavors to create their own Slurpee, but the NFT is only authorized and cannot be sold or transferred to third parties. Other brands like Taco Bell and Burger King have also experimented with NFTs. (Source link)

7. Ark Investment Sells Coinbase Stock for the First Time in Nearly a Year

Cathie Wood's fund Ark Investment sold Coinbase stock for the first time in nearly a year on July 11, selling 135,152 shares, marking the first sale of this stock since July 26, 2022.

It is reported that Ark is the fourth-largest holder of Coinbase, and yesterday's filings with the Chicago Board Options Exchange increased optimism about the potential approval of a Bitcoin ETF in the U.S., causing the stock to rise by 9.8%. (Source link)

8. Former Alibaba Executive Zhang Dayong Joins HashKey Group as Chief Commercial Officer

Zhang Dayong, head of payment operations for Lazada, Alibaba's Southeast Asian e-commerce giant, has joined Hong Kong-based crypto institution HashKey Group as Chief Commercial Officer (CCO).

According to reports, HashKey Group is one of the largest crypto financial institutions in Asia, headquartered in Hong Kong. The group's HashKey Pro is one of only two crypto trading platforms in Hong Kong to have obtained a compliant operating license. Zhang's joining signifies another internet executive officially entering the Web3 space.

Zhang Dayong has extensive experience in internet payments. Before joining Alibaba's subsidiary Lazada, he worked at Ant Group and served as a senior executive for Alipay in Southeast Asia. He joined Alipay in 2008 and was responsible for its operations in Southeast Asia. In September 2021, the Southeast Asian e-commerce giant Lazada created a new position for Zhang Dayong to lead the group's payment operations in the region. (Source link)

"What Exciting Articles Are Worth Reading in the Last 24 Hours"

1. 《Wall Street Rushes to Apply for Bitcoin ETFs, What is the Key Surveillance-Sharing Agreement Filing?》

BlackRock's actions have stimulated a series of followers, with financial firms like ARK Investment, Valkyrie, and Fidelity also submitting their Bitcoin ETF applications and incorporating the surveillance-sharing agreement (SSA) into almost all filing documents.

2. 《RWA Discussion: Compliance, Segmented Tracks, and Future Prospects》

A discussion about U.S. Treasury RWAs, the development direction of underlying assets, business structure, and potential impacts on DeFi, including some suggestions for investors' future layouts in primary and secondary markets.

3. 《On-Chain Data Warms Up Six Months After FTX Collapse, Is Solana Ready to "Regain Glory"?》

"Some signs indicate that Solana may have the potential to regain its former glory."

More than six months after the FTX collapse, news of FTX 2.0's reboot has emerged, and this reboot plan may have attracted interest from large companies including Nasdaq, Ripple, and BlackRock. As some failed crypto companies (like 3AC and the founder of PayPal) re-enter the market with new products, discussions about whether FTX is likely to make a comeback are increasing.

Meanwhile, Solana, an important member of the FTX "family," has also received widespread attention recently.

On one hand, Solana's co-founders have been actively expressing their views on Solana, sparking community discussions. Whether it is becoming the Apple of the crypto space, not fearing pressure from emerging blockchain networks like Scroll, Base, and Linea, or believing that Ethereum could serve as Solana's L2 solution, these ideas reflect Solana's ambition to regain its glory.