MEXC Ventures2026-08-25 03:11:58MEXC Ventures Holds Day 3 Helicopter Trip and Closing Gathering at CoinFest 2026 in BaliMEXC Ventures held its Day 3 Helicopter Trip and Closing Gathering in Bali on Aug. 21 during CoinFest 2026, according to ChainCatcher. The event brought together 32 KOLs and industry guests for an approximately 50-minute helicopter ride overlooking Bali’s southern coastline and the CoinFest main venue. Later in the day, 100 contestants, partners, and industry participants attended the closing gathering. During the MEXC Alpha Insights session, MEXC CEO Vugar and MEXC Product Director Vivien shared their observations on structural opportunities in the primary and secondary markets and outlined the strategic direction of MEXC Ventures for the coming quarters. The organizer said the event was designed to create a setting for CoinFest participants to exchange industry views and build collaborative ties.1030
primary marke2026-08-24 03:43:09Why Primary Market Capital Is Chasing "Certainty" as 19 New $10 Billion-Plus Unicorns EmergeChina’s primary market is showing a sharp split in 2026. While venture investors are still grappling with hard fundraising and even harder exits, money is no longer flowing evenly across the market. Instead, capital is crowding into a small group of sectors that appear to offer clearer paths to value realization, including large AI models, embodied intelligence, fusion, and quantum computing. According to incomplete statistics cited from Yicai, China added 19 embodied intelligence companies with valuations above RMB 10 billion in the first half of 2026 alone. Several, including Galaxy General, Zibianliang, Zhipingfang, and Xinghaitu, have already crossed RMB 20 billion. In AI, Moonshot AI’s valuation rose from about $10 billion at the start of the year to $35 billion after a July Series F of more than $3.5 billion, and its disclosed target pre-IPO valuation later climbed to $50 billion. The article argues that what investors are increasingly paying for is not just long-term technology upside. They are also paying for nearness to exit, public-market valuation benchmarks, scarcity in favored sectors, and the expectation that the next financing round will come at a higher price. That shift, it says, means risk in the primary market has not disappeared. It has moved from technology uncertainty toward valuation and exit risk.1140
Unitree Robot2026-08-19 12:04:01Unitree’s seven-year funding path: from a RMB 2 million check to a crowded cap tableA PANews feature, citing reporting by Zhang Yihao and Chen Zhiyan for elsewhere, retraces Unitree Robotics’ fundraising history through old WeChat messages, investment memos, photos and due-diligence notes collected from some of the company’s backers. The report says founder Wang Xingxing received a RMB 2 million investment in 2018 from Variables Capital, affiliated with GeekPark, marking Unitree’s first institutional financing and its second known investment after Yin Fangming. The article describes how hard fundraising was in the early years. Wang did not fit the standard venture template, and quadruped robotics was still viewed as an unclear market. At one point, cash ran so tight that he had to use his own money to cover payroll. According to the report, financing remained difficult until Unitree’s robot dog appeared on the Year of the Ox Spring Festival Gala in 2021 and the company cut the price of Go1 to RMB 16,000. By the time of the company’s B2 round before the 2024 Lunar New Year, investors including Meituan, Jinshi Investment and Source Code Capital had entered. The piece also details how Sequoia China seed investor Li Yannan first found Wang through a QQ email address, how Wang carried an A1 robot dog to Beijing for a live investment committee demo, and how several firms later documented Unitree’s revenue, margins, customer list and product positioning.1200
Unitree Robot2026-08-10 05:09:16Unitree Robotics' Hot IPO Draws Big Gains for Early Backers, Float Under 10% on DebutUnitree Robotics (688836.SH), known as the first humanoid robot stock on China's A-share market, has seen strong demand in its IPO. The company priced at a P/E ratio of 219.23 times, significantly higher than the industry average of 38.56 times, with offline inquiry subscription multiples exceeding 2,618 times. Early backers have reaped big gains: Variable Capital's initial 2.09 million yuan investment has grown over 174 times, Sequoia Capital China's 102 million yuan cumulative investment is now worth nearly 3 billion yuan, and Meituan-affiliated entities' 9.65% stake has generated paper profits above 3.6 billion yuan. However, secondary-market investors will confront a high valuation and a scarce float. Only about 29.77 million shares, or 7.36% of total share capital, will be tradable on the first day, with over 90% locked up. The company hasn't announced a definitive listing date yet, but it could debut on the STAR Market as early as mid-August.1970
Unitree2026-08-06 12:03:03Unitree Sets IPO Price at 150.80 Yuan Per Share; Subscription Opens Aug 10Unitree Technology has set its IPO price at 150.80 yuan per share, with no further bookbuilding for offline placement. The price was determined jointly by the issuer and lead underwriter based on preliminary inquiry results, evaluation of the company's investment value, and peer valuations. Online and offline investors must subscribe on Aug 10, 2026 (T-day), with no upfront payment required at the time of subscription.1730
Waterdrip Cap2026-08-06 07:02:42Waterdrip Capital CEO says crypto’s next cycle may hinge on two variablesJademont Zheng, co-founder and CEO of Waterdrip Capital, argues that the crypto industry has reached a place few expected several years ago, after token-launch projects fell in batches, major centralized exchanges lost influence, and primary-market investors pulled back. In his view, responsibility for the sector’s current state is not evenly distributed. He singled out FTX and Luna for damaging traditional capital’s trust in crypto, said top centralized exchanges failed to raise listing standards and instead favored short-term gains, and criticized the Ethereum Foundation’s shift from Proof-of-Work to Proof-of-Stake as an overrated decision that, in his opinion, cut off a larger opportunity tied to blockchain-based AI computing infrastructure. Zheng still sees a path forward, but he says the number of variables that can truly reverse the trend is now limited. He points to only two developments that could reopen a new phase of expansion: the United States adding BTC to a national strategic reserve and continuing to buy it, and the emergence of a true on-chain super app with hundreds of millions of users that creates real value and proves blockchains can generate demand, not just issue assets.550
AI2026-07-24 05:35:17Serenity Says World Models Are Becoming AI’s Biggest Investment Consensus in ChinaAnalyst Serenity says China’s primary AI funding is moving away from early base-model startups and into embodied AI, physical AI, and world models.370
Sonar2026-07-22 13:32:47Sonar’s Coinbase track record puts TownSquare in focus as its token sale gains tractionEcho’s public token sale platform Sonar is drawing fresh attention after the source article said 95% of projects that completed a Sonar Sale eventually listed on Coinbase. The piece points to several 2026 examples, including Fluent, Pharos, Arcium and Nexus, and argues that these deals shared similar traits: strong backing, a compliance-heavy profile and large post-launch returns. The latest project under that lens is TownSquare (TOWN). According to the source material, TownSquare is the first Sonar Sale project on Monad, had its token sale post reposted by Monad’s official social account, and plans to go live on Base and Aerodrome on the first day of its token generation event. The article also says the sale passed 50% of its fundraising target within 48 hours and that a related Polymarket market showed an 85% probability for the sale to be oversubscribed by more than $1 million. The original article frames those signals as reasons TOWN is being compared with earlier Sonar projects that later reached Coinbase, while also noting that Coinbase has never promised a Sonar project will be listed and that past patterns do not guarantee future results.1580
