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ZEC $1,284.41 +4.82%
AAPL $345.16 +0.31%
AMZN $240.53 +0.99%
GOOGL $283.08 +1.55%
MSFT $524.52 +0.65%
META $613.71 -0.34%
NVDA $204.05 +1.02%
TSLA $399.66 +0.97%
SNDK $1,152.01 +1.90%
INTC $64.87 +1.49%
SPCX $137.52 +0.95%
MU $898.06 +3.46%
AMD $507.63 +2.22%

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first_img Robinhood Chain's daily trading volume decreased by 42%, and on-chain activity continues to cool down

Robinhood Chain's on-chain activity continues to cool down. According to CoinDesk's calculations based on growthepie data, from October 2 to 8, the network's average daily transaction volume was 6.2 million, a decrease of 42% compared to 10.8 million from September 10 to 16, and a drop of 20% from the previous week; during the same period, the average daily active addresses were about 322,000, down 31% from mid-September. Robinhood launched this chain in July, allowing users to trade tokens and lend through applications connected to Ethereum, and plans to introduce around-the-clock trading of tokens linked to stocks and funds.Transaction volume has also declined. From October 2 to 8, the spot trading volume fell to $7.45 billion, down 21% from the previous week's $9.46 billion, with Uniswap handling about 77% of it. However, funds have not fled; on-chain lending and trading application deposits increased by about 2% week-over-week to $1.04 billion, and the supply of stablecoins rose to about $1.1 billion. Perpetual contract trading volume, on the other hand, grew against the trend by 26% to about $7.35 billion.Fee income has shrunk accordingly. During that week, users paid an average of about $65,000 in network fees daily, a decrease of 39% from the previous week, far below the peak of $8 million per day at the beginning of September. According to a report by Bernstein last month, Robinhood retains about 90% of network fees.

first_img CoolCash's parent company had its payment license revoked and has initiated liquidation

The payment service provider license of CoolCash (Xiao Yi Payment), the parent company of Tianxu International Technology Co., Ltd., has been revoked by the National Bank of Cambodia and has entered liquidation proceedings. The company and its director, Pang Weizhi, were included in the UK government's sanctions list in March this year due to alleged ties with the Prince Group.The National Bank of Cambodia announced on the 10th that it revoked the payment service provider license of Tianxu International Technology on August 3. This license was issued on May 27, 2024, and was originally valid until 2030. The bank also appointed Morrison Kak MKA Audit Accounting Firm as the liquidator in accordance with Article 68 of the Law on Banking and Financial Institutions to handle liquidation matters and return relevant funds to the company's clients in accordance with the legal priority order.UK sanction documents indicate that Pang Weizhi holds Cambodian and Chinese nationality, with the Cambodian name Pang Visal, and serves as a director of Tianxu International Technology and the parent company of Elephant Delivery, U-Life KH Super App Company Limited. The UK side claims to have reasonable grounds to suspect his ties with the Prince Group and that he has provided financial services or funds, economic resources, goods, or technology to the group. The UK side alleges that the Prince Group is involved in operating scam centers in Cambodia, which include forced labor and serious human rights violations. Tianxu International Technology and Pang Weizhi have been listed as targets of sanctions in both corporate and personal capacities.
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