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Crypto Morning Briefing: Mysten Labs Buys Back Stake From FTX for $96 Million

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Breaking: Elon Musk Plans To Take On Google’s Bard & ChatGPT With New AI Startup

According to a recent report published by the Financial Times on Friday, billionaire CEO Elon Musk is currently working on the formation of an Artificial Intelligence (AI) startup that will compete with the likes of ChatGPT-maker OpenAI, Google’s Bard and Amazon’s Bedrock.

Mysten Labs Buys Back Stake From FTX for $96 Million

Mysten Labs, creator of the Layer 1 blockchain Sui, has repurchased an equity stake bought by FTX less than a year ago.

Metamask User Data From 18 Months Compromised

In yet another cause of concern for the crypto community, ConsenSys, the parent company of cryptocurrency wallet MetaMask, said there was a cybersecurity breach of user data. However, the company said the MetaMask browser extension and its mobile app are safe. The cryptocurrency wallet actually does not store user data as the software is non-custodial. However, the data breach occured at the end of one of its third party service providers, the company said on Friday.

SEC Poised To Increase Its Scrutiny of Decentralized Finance Exchanges

The U.S. Securities and Exchange Commission is set to remove any doubt that they plan to police decentralized finance.

OKX Wallet and Galxe Have Announced an Official Partnership

OKX Wallet and Galxe have announced an official partnership, allowing users to connect their OKX wallet web extension to set up and complete reward-based loyalty programs.

Market Watch 

As of press time, according to Cointime data:

BTC 's live price is $30,313.90 USD, dropped by 0.13% in the last 24 hours;

ETH’s live price is $2,087.52 USD, jumped by 3.73% in the last 24 hours;

BNB’s live price is $329.08 USD, jumped by 1.35% in the last 24 hours;

XRP's live price is $0.52 USD, jumped by 1.98% in the last 24 hours.

Fundraising News

Bitcoin Bitcoin $63,622.82
-0.56%
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  • BTC Surpasses $64,000

    Market data shows that BTC has surpassed $64,000, currently priced at $64,000.4, with a 24-hour increase of 0.29%. Due to significant market fluctuations, please ensure proper risk management.

  • US Spot Bitcoin ETF Sees Net Outflow of $61.1 Million Yesterday

    On August 13, according to monitoring data from Farside Investors, the US spot Bitcoin ETF experienced a net outflow of $61.1 million yesterday.

  • US Spot Ethereum ETF Sees $7.4 Million Net Inflow Yesterday

    On August 13, according to data monitored by Farside Investors, the US spot Ethereum ETF recorded a net inflow of $7.4 million yesterday.

  • CFTC Warns Prediction Markets: Trader Incentive Programs May Encourage False Trading and Market Manipulation

    On August 13, the U.S. Commodity Futures Trading Commission (CFTC) Market Oversight Division issued a regulatory advisory reminding designated contract markets (DCM) of their regulatory obligations when self-certifying market maker, liquidity, trading, or incentive programs under CFTC Rules 40.5 and 40.6. The advisory addresses the increasing number of incentive program rule filings submitted under CFTC Rule 40.6(a), particularly those related to event contract products. The CFTC noted that some of these filings contain procedural or substantive deficiencies. These deficiencies may hinder staff's ability to assess whether the DCM has adequately notified the terms of the programs and whether it has sufficiently evaluated the compliance of the relevant programs with core principles and other regulatory requirements of the Commission. The guidance clarifies staff expectations regarding the procedural and substantive requirements when submitting materials under CFTC Rules 40.5 and 40.6, including initial submissions of incentive programs, amendments or changes to relevant programs, and submission procedures.

  • Metaplanet CEO: Transfer of 5,014 BTC Between Custodial Addresses is Routine, No Sale Made

    On August 13, Cointelegraph reported that Metaplanet CEO Simon Gerovich stated that the company's transfer of 5,014 BTC between custodial addresses is a routine operation. He emphasized, 'No Bitcoin has been sold, and the company's holdings remain at 43,000 BTC.'

  • Bullish Sentiment in Bond Market Rises as 10-Year Treasury Yield Falls Below 1.7%

    On August 13, the domestic bond market has seen a continued rise in bullish sentiment, with long-term rates experiencing a significant breakthrough. Market data shows that after fluctuating around 1.7% for several days, the yield on the 10-year Treasury bond fell below the 1.7% mark again on August 12, closing at 1.694%. Meanwhile, the yield on the 30-year Treasury bond also declined, closing at 2.160%, marking a low for the year. Industry insiders believe that the current bond market trend is driven by multiple factors including expectations of loose monetary policy, a balanced and relaxed funding environment, and institutional investors increasing their positions. However, after the key level was breached, the market's bullish and bearish dynamics intensified, and the effective conditions for a sustained downward trend in interest rates still need further validation.

  • NVIDIA Shares Rise Over 3%

    On August 12, NVIDIA's stock price increased by 3.35%, reaching $224.80 per share, the highest level in two months, with a total market capitalization of $5.44 trillion.

  • Trump: The U.S. Has Complete Control Over the Strait of Hormuz

    On August 12, U.S. President Trump posted: "The United States has complete control over the Strait of Hormuz. I believe we will continue to maintain that control! Our maritime blockade is referred to by everyone as a 'steel wall,' and Iran is powerless against it. They have no navy, no air force, and their remaining soldiers have not been paid. The Revolutionary Guard has been severely damaged and is in retreat, while their 'leadership' can at best be described as uncertain! They have no funds—this country is already 'full of holes.' All they have are fake news and 300% inflation, and the situation is worsening! Iran is now just talk without action, no longer the bully of the Middle East!"

  • Semiconductor Equipment Sector Continues Uptrend, Aehr Test Systems Rises Over 11%

    On August 12, the semiconductor equipment sector continued its upward trend, with Aehr Test Systems rising over 11%. Teradyne increased by over 6%, while Lam Research, Ichor Holdings, and Applied Materials each rose over 4%. KLA gained over 3%, and ASML and Ambarella both rose over 1%. In news, Aehr Test Systems announced a follow-up mass production order worth $22 million from its leading wafer-level AI processor customer. In industry news, Bernstein released a research report raising its forecast for wafer fabrication equipment (WFE) spending, citing increased confidence in the ongoing upcycle. The firm raised its 2026 WFE spending forecast to $148 billion, a 26.3% year-on-year increase; the 2027 forecast was raised to $204 billion, a 32.6% year-on-year increase; and the 2028 forecast was raised to $259 billion, a 27% year-on-year increase.

  • Lightspeed Plans to Raise $600 Million for Secondary Fund to Invest in OpenAI and Anthropic

    On August 12, Bloomberg reported that Lightspeed Venture Partners is seeking to raise approximately $600 million through secondary transactions to extend its investment exposure to OpenAI and other artificial intelligence companies, as well as to increase its investment in AI model company Anthropic. According to insiders, this fundraising effort is internally codenamed 'Project Mercury' and involves multiple secondary funds under Lightspeed, including the Select V Fund, Opportunity II Fund, and certain assets in a separately managed account. Lightspeed aims to provide liquidity to investors through secondary market transactions while maintaining long-term holdings in leading companies in the AI sector.

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