ChainCatcher news, according to Cointelegraph, the private market trading platform SecondLane has listed the equity of the memecoin issuance protocol Pump.fun at a fully diluted valuation (FDV) of $1.5 billion, and has listed 1% equity of Pump.fun at a price of $15 million.

ChainCatcher news, market maker Wintermute announced on X that it has accepted the dollar stablecoin USDe launched by Ethena as collateral for over-the-counter trading. Users can use USDe as collateral for options, contracts for difference, forwards, and spot trading, allowing for greater flexibility and higher capital efficiency in trading.

ChainCatcher news, according to @ai_9684xtpa's monitoring, a certain institution purchased 40,000 Ethereum (ETH) at an average over-the-counter price of $3,167 two months ago.However, 10 hours ago, the institution transferred 22,200 ETH (approximately $54.14 million) to the new address 0x7B8...9290a. Currently, the two addresses still hold 27,927 ETH, with a total value of approximately $68.02 million, resulting in an unrealized loss of about $20.41 million.

ChainCatcher news, according to CoinDesk, data from CryptoQuant shows that the total amount of Bitcoin in the over-the-counter (OTC) market has exceeded 410,000 coins, the highest level since May 2022, more than double the 185,000 coins in March.The balance can indicate the amount of liquidity available for purchase or sale at OTC desks; a high balance indicates strong liquidity, allowing the desk to fulfill large orders. A low balance, on the other hand, may suggest that trading is more difficult. OTC clients are primarily high-net-worth individuals or institutions outside of retail trading platforms. OTC trading allows for large buy and sell transactions without affecting Bitcoin prices on CEX.Data shows that OTC balances have surged significantly over the past six months, while Bitcoin has been on a downward trend since its historical high of $73,500 in March. The increase in balance is quite similar to the situation from late 2020 to early 2021, when OTC balances skyrocketed from 235,000 tokens to 435,000 tokens within six months. The difference is that Bitcoin's price was rising at that time, but it is now slightly declining.

ChainCatcher news, well-known DeFi investor Sisyphus posted on X that Celestia recently completed a $100 million financing round, which was an over-the-counter deal directly reached by the foundation with several institutions months ago, with a financing valuation of $3.5 billion. These token shares may also be unlocked in October.Sisyphus added that if the institutions can sell all unlocked assets at a price of $7.5, they will break even.Previously, X user NFTethics revealed that Sisyphus's true identity is Kevin Pawlak, the former head of OpenSea Ventures.

ChainCatcher news, Lido announced that stETH has been added to Wintermute's multi-currency collateral support list for over-the-counter trading. This means users can stake ETH to earn rewards while using stETH as collateral for Wintermute's OTC trading for the first time, helping institutions maximize asset utilization and improve trading efficiency.Currently, out of 120 million ETH in circulation, only 33.8 million are staked, with approximately 10.2 million staked through Lido.

ChainCatcher news, according to CoinDesk, CryptoQuant data shows that the amount of Bitcoin held by over-the-counter (OTC) desks has surged to 368,000 coins, worth over $22 billion, reaching a new high since June 2022. In the past three months, the Bitcoin holdings at OTC desks have increased by 153,000 coins.CryptoQuant points out that miners typically sell Bitcoin through OTC trades to avoid impacting market prices. The significant increase in OTC balances may suggest that miners are engaging in large-scale sell-offs. Historical data indicates that an increase in OTC desk Bitcoin balances is often associated with a decline in Bitcoin prices. Institutions and large traders tend to trade through OTC to minimize their impact on market prices.

ChainCatcher news, HashKey Group's over-the-counter trading department is the latest cryptocurrency company to obtain a payment license from the Monetary Authority of Singapore. This license was introduced under the Payment Services Act of 2019, allowing companies to provide "digital payment token" services in Singapore.In February of this year, HashKey received in-principle approval for a major payment institution license. Previously, the company operated under a regulatory exemption, providing spot trading, fiat currency entry, and settlement services.

ChainCatcher news, Hong Kong Legislative Council member Wu Jietzhuang stated that Interpol has issued a red notice for Huang Zhengjie and Mo Junting, believing that the police will definitely find a lot of evidence to prove the roles of the individuals involved in the case, and also to prove that blockchain and the internet are not lawless areas, and that fraudsters will definitely be brought to justice. He also pointed out that the arrest warrant is not merely symbolic, as governments around the world take commercial fraud cases very seriously and will cooperate and support efforts, expecting that those involved will be apprehended soon.Wu Jietzhuang also stated that the Legislative Council will establish two new laws regarding virtual assets in the future, including regulations on stablecoins and over-the-counter trading, which are expected to be introduced for the first reading in the Legislative Council by the end of this year and early next year. He reminded that if anyone claims that investing in virtual currencies is low risk with high returns, one must be cautious; secondly, all investment products must be purchased from licensed institutions, and relevant information can be found on the Securities and Futures Commission's website; finally, the SAR government can increase resources for investor education.

ChainCatcher news, according to Bitcoin.com, a recent report from Finery Markets shows that in the first half of 2024, the spot trading volume in the over-the-counter (OTC) institutional cryptocurrency market has significantly increased, with a year-on-year growth of 95%.The Finery Markets team analyzed data from 2 million spot trades conducted by institutions in the first half of 2024 and compared it to the same period in 2023. This strong growth is attributed to several factors, including the approval of spot Bitcoin exchange-traded funds (ETFs) and increased institutional participation in the cryptocurrency market.

ChainCatcher news, Taran, the founder of the OTC trading platform STIX, posted on platform X stating that since the launch of ENA, OTC sellers (investors) have contacted them, wanting to sell locked-up ENA at a valuation of 2 billion to 3 billion dollars (at that time, ENA's FDV was as high as 20 billion dollars). The current reasonable valuation for locked-up ENA should be 1.5 billion to 2 billion dollars (about a 70% discount).

ChainCatcher message, according to X platform user @maid_crypto, some on-chain analysts pointed out that the suspected @Christianeth address 0xc75......7fb purchased CRV worth 400,000 USDT from Curve founder Michael Egorov at an over-the-counter price of 0.107 USDT on June 21, and sold all of it the next day at a unit price of 0.333 USDT, causing a 5% drop in the CRV market. On June 28, it again acquired an equivalent amount of CRV from the Curve founder.

ChainCatcher news, the Secretary for Financial Services and the Treasury of the Hong Kong Special Administrative Region, Christopher Hui, stated that Hong Kong will continue to enhance its market competitiveness, strengthen connectivity with the mainland, and accelerate the development of new financial sectors. These "three drivers" will consolidate and elevate its status as an international financial center, serving the overall national development.Hong Kong needs to provide financial products that are compatible with the development of the digital economy, and the connectivity with the mainland market is crucial for consolidating and enhancing Hong Kong's status as a financial center. Hong Kong will also accelerate the development of new financial sectors, including green finance and financial technology, and improve the regulatory framework for emerging areas such as stablecoins and over-the-counter trading of virtual assets, hoping that the market will develop on a stable and sustainable path.

ChainCatcher news, CryptoQuant founder and CEO Ki Young Ju posted on social media that the current atmosphere in the Bitcoin market is similar to mid-2020. At that time, BTC hovered around $10,000 for six months, with active on-chain activity, which was later revealed to be over-the-counter trading. Now, despite lower price volatility, on-chain activity remains very active, with $1 billion being added to new whale wallets every day.

ChainCatcher news, according to a report by Caihua News, Hong Kong's Financial Secretary, Paul Chan, introduced the expenditure budget and work priorities for the 2024 to 2025 fiscal year, stating that the multi-central bank digital currency cross-border network (mBridge) is expected to launch its first phase of services this year, initially using multiple central bank digital currencies for cross-border transactions for enterprises.In addition, the "Digital Renminbi" will also expand its pilot scope in Hong Kong to further enhance the efficiency of cross-border payments and user experience. In terms of virtual assets, a series of initiatives are being promoted to strengthen regulation to facilitate the robust and responsible development of Hong Kong's virtual asset market.Specifically, the Monetary Authority launched a stablecoin sandbox in March this year, allowing institutions intending to issue stablecoins to conduct testing within a controlled environment. It has also conducted public consultations on the regulation of fiat stablecoin issuers and virtual asset over-the-counter trading services, and is considering the opinions and suggestions received. Depending on the progress of preparatory work, a bill will be submitted to the Legislative Council as soon as possible.

ChainCatcher news, according to the Hong Kong Economic Journal, the public consultation on the licensing system for virtual asset over-the-counter (OTC) service providers in Hong Kong ended last Friday, but the system only covers a very limited number of cryptocurrencies such as Bitcoin and Ethereum, raising concerns among some practitioners.In response to this situation, the Hong Kong Virtual Asset Industry Association has called on the authorities to exempt trading restrictions on USDT and USDC to avoid significant impacts on business development. Some practitioners have expressed that the reduction in tradable cryptocurrencies may lead to a shift of business to other regions. Additionally, some practitioners are concerned about the proposed 8,000 HKD transfer threshold for enhanced customer due diligence, believing it may result in customer loss. At the same time, requirements such as appointing a compliance officer and a money laundering reporting officer may pose significant cost pressures for small OTCs.

According to ChainCatcher news and a report by Zhitong Finance, the Secretary for Financial Services and the Treasury, Christopher Hui, responded in writing to lawmakers, stating that the Securities and Futures Commission (SFC) strengthened information dissemination in September last year, releasing multiple pieces of information regarding virtual asset trading platforms, including a list of suspicious virtual asset trading platforms, to provide the public with clear, transparent, and timely information. As of February 14 this year, a total of 14 trading platforms are listed on that list.In the past three years (2021 to 2023), the overall number of crimes involving virtual assets was 1,397, 2,336, and 3,415, with amounts involved being 824 million, 1.704 billion, and 4.398 billion respectively. As for the number of arrests and prosecutions, the police will now only consolidate relevant figures based on individual circumstances for specific cases. For example, in the JPEX case, as of yesterday (the 20th), the police have arrested 70 people, and no one has been prosecuted yet.In addition, as of February 2 this year, the SFC and the police have exchanged intelligence on over 100 virtual asset trading platforms or virtual asset-related activities. The SFC and the police will decide whether to establish a special investigation based on a basket of factors, including whether there is a connection to Hong Kong, whether it involves violations of relevant laws, the number of people involved, and the amounts involved. To further improve the regulatory framework, the Financial Services and the Treasury Bureau launched a public consultation on February 8 this year regarding the legislative proposal for a licensing system for virtual asset over-the-counter trading service providers, with the consultation period ending on April 12. Additionally, the Financial Services and the Treasury Bureau and the Monetary Authority jointly conducted a public consultation in December last year on the regulation of stablecoin issuers, with the consultation period ending on February 29 this year. Depending on the consultation results and the progress of preparatory work, the government will submit a bill regarding the aforementioned licensing system to the Legislative Council as soon as possible.