YZY, AVAX and other tokens are due for large unlocks
Token Unlocks data shows that YZY, AVAX, ARB, APT, SEI and STRK will see major unlocks next week.
YZY is scheduled to unlock about 120 million tokens at 11:00 a.m. Beijing time on Aug. 16, equal to roughly 22.83% of circulating supply and worth about $35.8 million.
AVAX will unlock about 1.67 million tokens at 8:00 a.m. Beijing time on Aug. 10, worth about $10.8 million. ARB is set to unlock about 92.65 million tokens at 9:00 p.m. Beijing time on Aug. 16, worth about $7.2 million.
APT will unlock about 11.31 million tokens at 8:00 a.m. Beijing time on Aug. 12, worth about $6.8 million. SEI is due to release about 88.89 million tokens at 8:00 p.m. Beijing time on Aug. 15, worth about $3.7 million. STRK will unlock about 127 million tokens at 8:00 a.m. Beijing time on Aug. 15, worth about $3.2 million.
Bitget says it will issue a TUT compensation plan within 24 hours
Bitget Chinese-language head Xie Jiayin said on X that the exchange has locked relevant data and launched its highest-level review after an abnormal move in TUT’s mark price.
Bitget said it will publish a detailed compensation plan within 24 hours and pledged to protect users’ rights. In replies to users, Xie also said other tokens affected by the same mark-price issue, including “lobster,” would be included in the handling and compensation process.
More than 100 crypto projects have shut down or gone bankrupt in 2026
More than 100 crypto projects have closed, filed for bankruptcy or permanently shut down since the start of 2026, spanning exchanges, wallets, DeFi lending protocols, NFT marketplaces and Layer 1 blockchains.
The report said the latest round of industry consolidation resembles the post-dot-com shakeout. Altcoin prices have broadly fallen 70% to 90%, which has sharply reduced treasury balances held in tokens. Tighter funding and rising security attack costs are also speeding up the exit of projects that lack real revenue and users.
Cathie Wood says bitcoin and stablecoins may benefit most from agentic commerce
ARK Invest said Cathie Wood’s latest macro analysis showed bitcoin is regaining footing relative to gold, and that bitcoin and stablecoins may be the two biggest beneficiaries of a shift toward agentic commerce.
She also argued that deflation, not inflation, is the bigger risk ahead, especially for companies that have not adopted AI and productivity tools. Oil prices could fall sharply, and current AI capex is not a bubble but an early-stage technology revolution.
Death of Harry Chun Tak Yeh in Paraguay under investigation
A Chinese national was found dead outside the Jade Park high-rise apartments in the Trinidad district of Asunción, Paraguay. He was initially identified as Harry Chun Tak Yeh, founder and managing partner of Quantum Fintech Group.
Police said he appeared to have fallen from the 30th floor. His body was found naked and covered with a black plastic bag. Investigators found the door open and the apartment in severe disarray in the unit he was believed to occupy, and confirmed he also owned another apartment on the 27th floor of the same building. Forensic staff collected evidence outside the building and in both apartments, and the items were handed to prosecutors.
Prosecutors are treating accident, suspected suicide and homicide as all possible scenarios. A forensic autopsy will determine the exact cause and manner of death.
Reports also said Yeh entered the bitcoin market in 2013, when BTC traded at $60, and started his first fund with $250,000. His investment network said it managed more than $2.4 billion in assets and had close ties to Fantom, Tomb Finance, Lif3, ZooCoin, L3USD and L3 Reserve.
Coinbase CEO says crypto has expanded access to financial services
Coinbase CEO Brian Armstrong said on X that the progress crypto has made in expanding global access to financial services remains underestimated.
He said stablecoins have brought the dollar onchain, allowing users around the world to hold a low-inflation currency and move money 24/7 at very low cost. DeFi has expanded access to credit. Tokenized stocks have given about 4 billion people without brokerage accounts exposure to U.S. equities. Bitcoin, he added, offers a store of value that is less vulnerable to inflation.
Hyperliquid open interest hits a yearly high, but revenue keeps falling
Hyperliquid’s trading activity has set records, but the protocol’s retained revenue keeps declining. On July 13, open interest topped $11 billion, a year-to-date high. Over the past 30 days, perpetual futures trading volume reached about $178 billion, or roughly 9% of global perpetual open interest.
Revenue, however, has fallen for four straight quarters, dropping from about $357 million in Q3 2025 to about $202 million in Q2 2026, a cumulative decline of roughly 43%.
The gap stems from a fee-sharing plan that routes half of the platform’s trading volume to external contract developers. Since October 2025, anyone who stakes 500,000 HYPE, or about $28 million, can deploy a perpetual market on Hyperliquid and keep up to half of the trading fees.
At the start of 2026, these builder markets accounted for about 2% of volume. They now make up about half. Over the same period, the share of revenue costs rose from under 6% in Q2 2025 to 18% one year later. Growth has been led by RWA perpetuals, with contracts tied to crude oil, gold, Nvidia, Tesla, the Nasdaq 100 index and SpaceX hitting a record $3.6 billion in open interest this month, overtaking bitcoin as the platform’s largest market.
KOSPI rises, while Unitree opens share subscriptions in Shanghai
Bybit data showed South Korea’s KOSPI index up more than 2%, with Samsung Electronics up over 3% and SK Hynix up more than 4%.
At the same time, Unitree Technology, billed as the first humanoid robot stock in China, began its STAR Market subscription. A shareholding look-through to the third layer shows at least 12 brokerages in the cap table. Five of them used LP stakes to invest indirectly through CICC’s private-equity fund. As the sponsor, CICC is also participating through its alternative investment arm and private-fund subsidiary.
Online and offline subscriptions for Unitree opened on Aug. 10, with payment due on Aug. 12. The offering code is 787836, while the securities code and offline subscription code are 688836. Investors who win one lot will need to pay about 75,400 yuan, according to market estimates.
Miner-linked BTC transfer and a Coinsbuy hack
Onchain data show that an address believed to belong to a miner sent 1,019 BTC to Binance seven hours ago, worth about $66.42 million. The coins were received from FalconX a year earlier at an average price of $116,110.
After sitting for a year and losing about 44% in value from that entry price, the coins began moving to the exchange.
Separately, wallets linked to Coinsbuy were hacked for more than $7.9 million across Ethereum and TRON, with the attacker later laundering the funds into XMR through exchanges. Coinsbuy said that, with support from ChangeNOW, it had successfully frozen six-figure amounts of stolen funds. The platform temporarily halted deposits and withdrawals after the incident, but services have since resumed.
South Korean lawmaker seeks a three-year delay to crypto tax
People Power Party lawmaker Jeong Seong-guk plans to propose a bill that would push the start date for crypto income taxation back three years, from Jan. 1, 2027 to Jan. 1, 2030.
Under current rules, income from crypto transfers or lending will be classified as “other income” and taxed starting next Jan. 1. Profits above 2.5 million won would be taxed at 22%, including 20% in other income tax and 2% in local income tax.
The report said the party is seeking voter support by backing legislation that favors crypto investors, as public criticism has mounted over stock-market turbulence and surging property prices. The People Power Party has long opposed the tax and wants it abolished.
Unitree subscription details and broker exposure emerge
Unitree opened its onshore and online subscription on Aug. 10. Payment will be due on Aug. 12, and the allotment results will be published that same day.
Each winning lot consists of 500 shares. Market estimates put the payment required per winning lot at about 75,400 yuan, making it one of the higher-entry IPOs this year.
AI roundup: Grok Imagine, Source Foundry, CXMT and GitHub Models
In AI news, Elon Musk confirmed that Grok Imagine now supports native meme generation, along with region editing, multi-image input and intelligent zoom. The feature is already live on X.
Hedge fund Situational Awareness invested $400 million in chip startup Source Foundry. Separately, reports said Apple is testing memory chips from CXMT for possible use in iPhone and MacBook lines. GitHub Models has been retired, with its model playground and unified API service now shut down.