qfx Just as a river gathers strength from its many unseen tributaries, so too do stablecoins find their way into the bustling heart of Hong Kong’s commerce. Yet, though more than seventy-seven hopefuls have flung their hats into the ring, the gatekeepers remain unmoved-only a scant few may cross the threshold.
The backbone of this fortune? Ether, naturally. Arkham says Buterin holds about 240,042 ETH in known wallets, with over 99% of his crypto portfolio tied to ETH. At the time of writing, ETH was sitting pretty at $4,321, which translates to roughly $1.04 billion in Ether alone. So yes, if Ether sneezes, Vitalik’s net worth catches a cold. Or buys another yacht he’ll never use 🛥️.
The launch of Hyperliquid’s USDH has instigated a governance battle of a magnitude rarely witnessed in these digital domains. One might almost suspect a novel is being written as we speak!
But wait, there’s more! Whale activity, the kind that sends ripples through the calmest of waters, has been fueling today’s move. On September 7, Hyperliquid’s largest ENA holder, probably someone with more money than sense, opened a $36 million 5x long on ENA and a $12.85 million 10x short on ETH. These leveraged bets, like a farmer betting on rain, highlight growing adoption among high-profile traders and deepen the liquidity pool in DeFi. It’s a sight to behold, like a carnival in the middle of a desert. 🎢
On X today, Metaplanet posted an update and released an official announcement about their latest acquisition. The announcement revealed that they had paid an average of approximately 16.55 million Japanese Yen for each coin in this deal.
Thanks to listings on Binance Alpha, KuCoin, and Toobit, SLAY is now accessible to more traders than a TikTok influencer’s followers. 💸✨
Metaplanet, in a bold move that screams “I have too much cash and a death wish,” added 136 BTC to its vault, bringing its grand total to 20,136 BTC. That’s worth over $2.2 billion-enough to buy 210,000 Bitcoins by 2027, per CEO Simon Gerovich. Wait, what? Is this a corporate Bitcoin heist or a Netflix limited series? Either way, Metaplanet is now the sixth-largest Bitcoin hoarder in Japan. At roughly $111k per coin, they’re basically the Robin Hood of crypto… if Robin Hood charged 10% fees and wore a suit. 🎩
As a result, the company’s treasury now boasts a jaw-dropping bounty of 20,136 BTC, summoning whispers of nearly $2.057 billion, which, given the undulating nature of fortune, leaves us in a delightful stupor. True, it’s merely numbers on a screen, yet those digits felt the numinous touch of destiny as they crossed the $2 billion mark. Golden dreams are woven tightly into the fabric of Metaplanet’s ambitions, showcasing their unwavering resolve to clasp Bitcoin closer than ever, solidifying their stature as one of the titanic corporate leviathans in the cryptic waters of cryptocurrency. 🐋💸
The giants of finance are not ones to be left behind in this modern-day gold rush. Industrial and Commercial Bank of China (ICBC), the behemoth of the banking world, has thrown its hat into the ring via its Hong Kong branch, ICBC (Asia). This makes it the second Chinese banking titan to enter the fray, following in the footsteps of Bank of China (Hong Kong). HSBC, ever the keen observer, has also shown a glint of interest, while whispers in the corridors of power suggest that Standard Chartered and BOC Hong Kong might just be the first to receive the golden ticket. Should these licenses be bestowed, they will serve as the cornerstone of Hong Kong’s grand ambition to become a fortress of trust in the realm of regulated digital assets. 🏰✨
Last week, Ripple decided to bless us with their wisdom, highlighting how banks are speed-running their way into digital assets. Tokenization, stablecoins, and blockchain-based operations are the new buzzwords, and institutions aren’t just dipping their toes anymore-they’re cannonballing into the deep end. Why? Because clients are demanding payments, hedging, and portfolio diversification like they’re ordering a Frappuccino at Starbucks. Oh, and let’s not forget the need for infrastructure sturdy enough to handle trillions of dollars. No pressure, right? 🤷♀️
