Pantera · 1077

Pantera: Bitcoin breaks through the 200-day EMA, funds turn bullish

Comparing news, Pantera Capital published an article stating that Bitcoin has been in a narrow fluctuation range for the past six months, and the market is often intense and large after consolidation is over. Currently, market positions are being reversed, and investors are shifting from wait-and-see or even net shorts to a growing desire to go long. Bitcoin broke through the 200-day EMA at $69,000 and has attracted momentum and trend tracking funds to enter the market. From a long-term perspective, digital asset prices are still about 50% higher than before, but fundamentals continue to strengthen, including stablecoin adoption, predictive markets, perpetual contracts, and agency commerce. When fundamentals improve and prices are still discounted, the logic for continuing to maintain constructive positions is more clear.

13h ago

RWA loan agreement Multipli opens MULT community public offering

Comparatively, real-world asset (RWA) lending protocol Multipli announced on the X platform that the MULT community sale of its native ecosystem token has begun. Sales are carried out through SONAR, an on-chain token sales platform built by Coinbase's Echo, with priority given to the community. The Pre-Open phase is open from August 7, 2026 at 13:00 UTC to August 14 at 13:00 UTC. Users with rewards such as ORBs and Crystals can enjoy additional benefits and support participation using USDC and USDT. Multipli is supported by Pantera Capital, Sequoia, etc.

14d ago

Binance claims $473 million, will RedotPay's IPO path be blocked?

Author: Asher_ 0210 Original title: Claimed by Binance for $473 million, can U-card leader RedotPay successfully go public? RedotPay, the leader of crypto payment cards (U cards), has been sued in court by its former partner Binance. Last night, according to Bloomberg, various Binance related entities sued the three RedotPay co-founders Gao Zhangpeng, Chan Wa Choi, and Yao Chao, alleging that the three violated the agreement, directed more than 470,000 Binance Card users to RedotPay, and claimed $472.8 million. Binance said that since the two parties cooperated, RedotPay has received about US$304 million in user funds through Binance Pay, but the relevant funds were not isolated as agreed, and some of the funds were eventually used to recharge the RedotPay Card. RedotPay later responded that the lawsuit will not affect the company's current or future day-to-day operations, and will actively defend all charges. Since the case has already entered judicial proceedings, the company will not comment further on the specific dispute. In order to give readers who are not familiar with the U card sector a general idea of who is being sued by Binance, RedotPay currently occupies half of the crypto payment card market and is impacting the $4 billion valuation. Taking the lead in crypto U-cards, RedotPay is already preparing to go public in the US. RedotPay was founded in April 2023 and mainly provides stablecoin payment cards, multi-currency wallets, fiat currency exchange, and global transfer services. After users deposit stablecoins such as USDT and USDC into RedotPay, they can complete online subscriptions, offline purchases, and cross-border payments through virtual or physical cards. At present, the company has more than 8 million users, annual payments of 14 billion US dollars, and annualized revenue of about 180 million US dollars. Since 2024, RedotPay has been at the top of the crypto U-card market. According to Paymentscan data, in July of this year, the total transaction volume of the crypto U-card circuit was about US$749 million, with RedotPay trading volume reaching US$395 million, accounting for 52.8%, leading the fault; Ether.fi trading volume of US$100 million, accounting for 13.4%, ranking second; and KAST trading volume of US$89.6 million, accounting for 11.9%, ranking third. Last year, RedotPay closed three rounds of financing, totaling $194 million: In March, RedotPay closed a $40 million Series A round led by Lightspeed. At the time, the company had more than 3 million users; in September, RedotPay completed strategic financing of 47 million dollars, led by Coinbase Ventures, the valuation exceeded 1 billion US dollars and the number of users increased to more than 5 million; in December, RedotPay completed Series B financing of 107 million US dollars, led by Goodwater Capital, Pantera Capital, Blockchain Capital, Institutions such as Circle Ventures and HSG participated. After becoming a crypto U-card unicorn, RedotPay began preparations to go public in the US. The company plans to conduct an IPO in New York as early as this year. The potential funding scale is over 1 billion US dollars, the target valuation is over 4 billion US dollars, and it is also currently negotiating a new round of financing of up to 150 million US dollars. RedotPay's early growth comes from Binance Pay In November 2023, RedotPay partnered with Binance to access Binance Pay. Users can directly deposit funds from their Binance account to their RedotPay Card through a mini program within the Binance app (officially announced publicly on December 15). Binance Pay is a crypto payment tool launched by Binance. Users can directly use the assets in their Binance account to complete transfers and payments; Binance Card is an encrypted U card introduced by Binance for everyday consumption scenarios, and RedoTP...

16d agoburnking#PayFi #Binance

The World Foundation sold 217 million WLDs to Pantera Capital and others at a 36% discount

According to Ember Monitor, the World Foundation sold about 217.4 million WLDs to Pantera Capital and other institutions about 8 hours ago to raise 52.5 million US dollars. Although the sale price was not officially disclosed, according to on-chain transfer data and estimated financing amount, the average sale price was about $0.24, which is about 36% off WLD's current market price. Ember said that this batch of WLDs needed to be locked up for 1 year, and that the lock-up arrangement may be one of the reasons for this discounted sale.

28d ago

[More cost-effective than Pushing Daily News Picks] Anthropic released a more cost-effective Claude Opus 5 model; 25 tech giants signed an open letter to support an open weighted AI model; Huang Renxun's latest statement: the chip industry will not decline for a period of time and needs to be expanded five to ten times; Coinbase Institutional: maintaining a neutral outlook on the Q3 crypto market; Trump threatens to impose high tariffs on the European Union and demand the lifting of fines on US companies

Daily AI · Cryptography · Macro · Market News, Bitpush helps you set priorities ↓ AI · News [Anthropic Releases More Cost-Effective Claude Opus 5 Model] Compared to Twitter news, Anthropic released a new artificial intelligence model Claude Opus 5, which aims to handle work tasks at a lower cost. The company said the model's capabilities in several categories are close to its most advanced Fable 5, but at half the price of the latter, it is expected to be the default choice for many everyday office needs. As businesses pay more attention to AI spending, several AI developers including OpenAI, Meta, and SpaceXAI are competing to provide more cost-effective models. Anthropic said Opus 5 is a general-purpose model with improved capabilities in self-inspection work, scientific research, and code optimization. Anthropic also said the model's ability to find cybersecurity breaches is almost as good as the company's more advanced Mythos 5 model, but “still clearly lags behind” in exploiting these vulnerabilities. According to the company, the market is paying more attention to the cost efficiency of AI. [25 tech giants jointly sign an open letter to support an open weighted AI model] Comparing news, 25 US technology companies, including IBM (IBM.N), Meta Platforms (META.O), Nvidia (NVDA.O), and Microsoft (MSFT.O), jointly signed an open letter calling for open weighted AI models. The open letter stated that an open source weighting model is critical to a healthy AI ecosystem. The US faces open weighted choices in the field of artificial intelligence. Admittedly, the open weighting model does have real and unique risks. But in fact, openness may be one of the most important ways to achieve AI safety and security. Relying on closed models alone is not safe: they can be breached, misused, or fail in ways that are imperceptible to the outside world. The open weighting model allows the broader community of researchers and developers to examine their behavior, identify vulnerabilities, develop protections, and continuously improve them over time. [Hwang In-hoon's latest statement: The chip industry will not decline for a period of time, and the scale needs to be increased five to ten times] Comparing news, Nvidia CEO Hwang In-hoon and AXIOS co-founder Mike Allen had an extensive and in-depth discussion on the current state of artificial intelligence. Hwang In-hoon said that although the chip industry has had a cycle of ups and downs for a long time, “this time the situation is different.” Even considering the extremely cyclical fluctuations in the chip industry's history, the current boom still has room to grow. When asked if the industry is about to experience a recession, Wong In-hoon replied, “No, it won't happen for some time. This time it's different because it's not demand-driven.” Wong In-hoon further explained that the current AI boom is not driven by consumer demand, which has been the main driver of the industry for a long time. The current AI boom is industry-driven, meaning that the core technology of computers is changing. We need to build a new tier of infrastructure around the world. We already have energy, internet, roads, and railways, and now we need to build an intelligent layer of artificial intelligence, that is, superimposing another layer of infrastructure on top of these foundations. And this layer of infrastructure also relies on chips. I think our semiconductor industry may be five to ten times larger than it is now... the current industry is too small. Everything is extremely scarce because it's not a cyclical issue or consumer demand, but a fundamental, infrastructure-related factor. As a result, the entire industry is in short supply. I think we have to expand the industry several times more. Crypto · Market [Coinbase Institutional: Maintaining a Neutral Outlook for the Q3 Crypto Market] Comparing news, Coinbase Institutional and Glassnode jointly released a market report to maintain a neutral outlook for the crypto market in the third quarter of 2026. In the second quarter, the total market capitalization of the crypto market without stablecoins fell by about 12%, and the stablecoin supply reached a record high. On-chain data shows that Bitcoin may be shifting from a revision/adjustment stage to an accumulation stage. Valuation compression, recent active supply is close to multi-year lows, and the share of profitable supply falls below the historical statistical downtrend (historically, it often corresponds to accumulation rather than distribution regions). However, the macro-liquidity environment is tight. The Federal Reserve is led by Kevin Warsh...

28d agoWendy#Compare Daily Picks

World Foundation raises $52.5 million in token sale led by Pantera Capital

Comparatively speaking, the World Foundation is the non-profit organization behind the World Agreement. The organization announced that it has raised $52.5 million in new funding through the strategic sale of WLD tokens, and all tokens will be locked in for one year. The first round of token sales was led by Pantera Capital, with other investors including Bain Capital Crypto, WLD's money management company Eightco Holdings, Selini Capital, Susquehanna Crypto, etc. It's unclear if the foundation plans to do more token sales after the first round of deliveries. The foundation stated that the WLD tokens sold in this transaction were intended for use within the World Network and did not represent any investment rights or profit or return rights. The spokesperson said this meant that WLD bought by investors did not represent their shares in Tools for Humanity (Tools for Humanity), a for-profit company behind World Network.

29d ago#financing

The S&P Crypto Index sets a “financial threshold”, and Bitcoin is shut out

Author: Shenchao TechFlow Original title: S&P Dow Jones teamed up with Pantera to launch a crypto index, Bitcoin was turned away due to “not making money” Shenzhen Guide: S&P Dow Jones Indices (S&P Dow Jones Indices) collaborated with Pantera Capital to launch the S&P Pantera Digital Asset Index, which included 18 coins, but excluded all Bitcoin, XRP, and Meme coins. The screening criteria draw on the S&P 500's “financial viability” threshold, requiring the agreement to record positive revenue and distribute value to token holders for multiple consecutive quarters. This is the first time that the world's largest index producer has introduced a fundamental screening framework in the crypto sector. ETH, BNB, SOL, TRX, and HYPE are among the top five positions. The world's largest index producer has officially turned “revenue” into a ticket to crypto assets; Bitcoin didn't get it. According to S&P Global's official press release on July 21, S&P Dow Jones Indices and Pantera Capital jointly launched the S&P Pantera Digital Asset Index (S&P Pantera Digital Asset Index). The index only includes tokens and companies with actual usage scenarios and real income, excluding Bitcoin and meme coins. Cathy Clay, CEO of S&P Dow Jones Indices, said that Bitcoin failed to pass the index's core tests, that is, to generate real protocol revenue. Pantera founder Dan Morehead pointed out in his July Blockchain Letter that there are only two questions repeatedly raised by institutional allocators: “What services does this agreement provide” and “does it make money”. Drawing on the S&P 500, “financial viability” became a new yardstick for crypto indices. The core inspiration for this set of screening methods came from the S&P 500. The S&P 500 requires constituent stocks to record positive GAAP profits for four consecutive quarters. The S&P Pantera Digital Asset Index transports the same principle to the crypto field, requiring that the agreement record positive agreement revenue for multiple consecutive quarters (which must exceed the minimum threshold), verified by the on-chain data provider Artemis, and that revenue must flow to token holders through mechanisms such as buybacks, pledged proceeds after deducting inflation, distribution, or treasury controlled by the token holder. After initial screening, the index ranked eligible assets according to the revenue of the previous two quarters, and gradually included until it covered 99% of the total revenue from eligible assets. The index includes 18 constituent assets, weighted by fluctuating market capitalization, and quarterly rebalanced. The weight limit for a single token is 35%, and the remaining tokens are capped at 20%. These weight limits are consistent with the rules used by S&P in stock indices. Top 5 holdings: The five major holdings of ETH, BNB, SOL, TRX, and HYPE are Ethereum (ETH), BNB, Solana (SOL), TRX, and Hyperliquid (HYPE), respectively. Pantera revealed in the Blockchain Letter that Aave is also a component of the index. Pantera said that the combined annualized revenue of all agreements in the index over the past two quarters exceeded $3 billion. Each of the selected agreements provides customer-paid services, and its tokens have a verifiable value accumulation mechanism. The full list of 18 constituent tokens has not been publicly disclosed. Why was Bitcoin excluded? Pantera gives three reasons Pantera explained in detail in its Blockchain Letter why Bitcoin was excluded. First, Bitcoin is a monetary asset. Institutional allocators usually have obtained exposure to BTC through single-asset ETFs and have established policies for their allocation. Second, existing crypto indices mix Bitcoin, meme coins, and actual revenue-generating agreements in one basket, making it difficult for institutions to underwrite fundamentals. Third, Bitcoin does not generate protocol revenue and cannot pass the financial viability screening set by the index. Pantera believes the digital asset industry's narrative dilemma lies in the yardstick itself. Currently, mainstream benchmarks can only see the price of Bitcoin, but they can't distinguish between an agreement with real user payments and a token with no economic function. It is only a benchmark index. ETF products are being promoted. Currently, the index is only released as a benchmark index, and still...

31d agoburnking#SOL #Tron #XRP #Ethereum #Bitcoin

Data: The amount of cryptocurrency primary market financing reached US$8.658 billion in the first half of the year, with 259 financing incidents

Comparative news, according to RootData data, the total amount of financing in the crypto industry in the first half of the year was 9.081 billion US dollars, with a total of 259 cases; of these, the amount of primary market financing (excluding IPO/Post IPO/M&A rounds) was 8.658 billion US dollars, down 26.1% from the same period last year, and the number of financing incidents decreased by 28.5% year on year. March and May were the two highs in the amount of financing in the first half of the year. The number of financing incidents reached 66 and 68, respectively; the number of financing incidents in June dropped to 43, indicating that market capital activity cooled down after entering the end of the second quarter. Overall, large financing can still significantly increase the monthly financing scale, but the popularity of conventional financing rounds has begun to shrink. There were 75 mergers and acquisitions in the crypto industry in the first half of 2026, 16 of which disclosed specific amounts (totaling approximately US$38.36 billion). Mergers and acquisitions mainly focus on CeFi, tools and information services, DeFi, and infrastructure. Representative mergers and acquisitions include Mastercard's acquisition of BVNK ($1.8 billion), Kraken's acquisition of Reap ($600 million), etc. Leading crypto venture capitalists remain high, with Coinbase Ventures ranked first with 25 investments in the first half of 2026; Animoca Brands participated in 20, and a16z and Tether each participated in 14. Coinbase Ventures has participated in 68 investments over the past 12 months, continuing to rank first in the industry, followed by Animoca Brands, Pantera Capital, yZi Labs, a16z, Tether, and GSR. Looking at the racetrack, DeFi, infrastructure, and CeFi are the three most active funding directions in the first half of 2026. In the first half of the year, DeFi completed 129 financing events, infrastructure completed 116, and CeFi completed 69. AI, payments, predictive markets, and RWA are also segments that capital focuses on, including 59 AI-related financings, 46 payment-related projects, and 28 RWA related projects. Overall, the crypto primary market did not completely stagnate in the first half of 2026, but the market structure has changed: the total amount of financing is still supported by a small number of large transactions, more concentrated institutional action, more pragmatic circuit preferences, and mergers and acquisitions have become an important method of industry integration. Funding is shifting to structured allocations around infrastructure, DeFi, CeFi, payments, AI, and RWA. This article is sponsored by GENG, Build Your Fortune on GENG (https://geng.one)

38d agoburnking#financing

The 2026 H1 Crypto VC Report Unveiled What Cruel Signals

Source: Tiger Research Authors: Henry Kim, Ryan Yoon Compiled and edited by: BitPushNews Crypto market capital is undergoing a paradigm shift — funding is being concentrated at an accelerated pace on specific tracks and leading companies. Tiger Research and RootData jointly analyzed a total of 9,416 investment transaction data from 2018 to the first half of 2026 to outline the changing trajectory of this capital pattern. The core finding was that in the first half of 2026, capital inflows to the crypto market reached $13.3 billion, almost the same as the full year of 2024's $13.2 billion. However, funding rounds plummeted to just 435, a sharp drop of 78% from the 2022 peak of 1,978. The market is rapidly dividing: on one end there are a few large crypto-native venture capital firms that focus on leading investors, and on the other end are subsidiary investment departments that rely on exchange liquidity. Mid-sized funds, which are sandwiched in the middle and lack a clear competitive advantage, are being pushed out of the table at a speed visible to the naked eye. Game circuit funding rounds plummeted from 141 in 2024 to just 5 in the first half of 2026, a drop of 96%. The payments and stablecoin circuit, as well as capital inflows to the centralized exchange (CEX) circuit, are almost all driven by mergers and acquisitions. Traditional financial institutions participated in 54.5% of all investment transactions recorded in the first half of 2026. 1. 2021 Market Review: Using speed and diversification as a strategy The core strategy of the 2021 crypto investment market is to pursue speed and diversification of portfolios. In that year, investors executed a total of 1,750 transactions (including seed rounds), and competition for speed was so intense that AU21 Capital alone was able to close more than 13 transactions per month on average. Investment decisions at the time were reduced to extremely simple standards, such as token generation event (TGE) timelines and tokenomics (tokenomics, a structure that governs how project tokens are issued and distributed). Since issuing tokens alone can generate returns without any actual product development, venture investors largely pursue a “spray and pray” (spray and pray) strategy, spreading funds across hundreds of projects, regardless of their high or low valuations. Speed of execution was placed above strict due diligence. A new round of financing can close almost instantly, and venture capital firms that miss one round tend to chase the next project with a higher valuation. This fear of misunderstanding (FOMO) continues to circulate throughout the industry. Most VCs running this strategy failed to survive the subsequent bear market, and those that survived fundamentally changed their investment methods. 2. Which VCs have survived: The industry landscape has changed 2.1. Lead investment: The first indicator we need to examine in the past and present is “lead investment” (Lead Investment), which is the funding round that major venture capital companies have historically dominated. Some venture capital firms are still active in leading investment deals, while others have completely disappeared or only recently emerged. Since leading a round of financing has always required the reputation and capital scale only large venture capitalists have, companies that have led major rounds in the past have shown strong resilience, and most of them are still in the top ten today. 2.2. The differentiation of surviving venture capital, judging from the latest data from 2024 to 2026, crypto-native venture capital firms and established large institutions are concentrating their resources on leading investment transactions and participating more deeply in a single transaction. They changed their business model: reducing the overall number of transactions while raising the due diligence threshold, and actively seeking board seats and more influence over project governance. However, the cumulative number of regular round participation (round participation) outside of leading investment transactions showed a very different picture. Among the top 15 venture capital firms that participated from 2024 to the first half of 2026, venture capital institutions under the exchange account for a large share. Exchanges are far more willing to participate in financing rounds than lead investors. Among them, Coinbase Ventures ranked first with 140 transactions, OKX Ventures ranked second with 94, and yZi Labs ranked third with 92. Note: yZi Labs...

38d agoWendy#CEX #DEX #VC #invests #depths #financing

Pantera Capital: Hyperliquid has the potential to reach a market volume of around $10 trillion per day, and regulation remains the biggest risk

In comparison, according to an article by crypto venture capital fund Pantera Capital, Hyperliquid's potential accessible market size is about $10 trillion in nominal daily trading volume, including about $200 billion in 0DTE options and leveraged ETF transactions, about $2 trillion in commodity derivatives transactions, and about $8 trillion in foreign exchange derivatives transactions, which are currently barely on the chain. Pantera said that if Hyperliquid continues to obtain a low single-digit share of this combined trading volume, its revenue potential could reach 5 times the current level. According to estimates, if the HIP-3 market were calculated based on an annualized nominal transaction volume of $3650 trillion and obtained 1% market share, Hyperliquid could obtain approximately $3.7 billion in revenue under the assumption of a 2-basis point comprehensive rate and 50% Hyperliquid economic share. However, Pantera also pointed out that regulation is Hyperliquid's biggest risk. Perpetual contracts have not yet been fully opened in the US. If the US promotes legalization of related products and the launch of regulated platforms in the future, Hyperliquid may face more intense competition, and the trading volume of some US users may also shift to compliant places. Pantera also believes that Hyperliquid may launch a regulated version for the US market in the future like other platforms.

44d ago