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first_img RockawayX acquires cryptocurrency hedge fund Relayer Capital to expand its business in the United States

Cryptocurrency investment firm RockawayX announced the acquisition of the crypto hedge fund Relayer Capital to incorporate long-short strategies into its existing platform and expand its business footprint in the United States. RockawayX manages approximately $2 billion in assets, and Relayer will be renamed RockawayX Liquid Opportunities Fund, focusing on uncovering "undervalued liquidity tokens and crypto-related stocks." After the acquisition is completed, Relayer founder Austin Barack will serve as the chief investment officer of the fund, with Forbes citing informed sources that the company plans to raise $150 million for the fund.According to the announcement, Relayer's liquidity strategy has achieved approximately 70% net returns this year, outperforming a weighted basket of Bitcoin, Ethereum, and Solana by 86% as of August 21. The strategy expresses fundamental views on crypto tokens through long and short positions and pairs trading, while reducing overall market exposure at appropriate times. RockawayX CEO Viktor Fischer stated that now is the "right time" to implement this strategy, as there are crypto companies with real revenue and strong fundamentals emerging in the market, but inefficiencies and mispricing still exist, providing good opportunities for active investors.This transaction occurs amid a recent rebound in the crypto market, with Bitcoin recording its largest weekly dollar gain in history last week, dropping 1.68% to $79,064 in the past 24 hours after briefly reaching a high of around $81,000.

first_img Unitree's stock price has fallen about 45% from its peak after going public, raising concerns about a bubble

According to a report by Reuters, after the Chinese robot manufacturer Unitree was listed on the Shanghai Star Market, its stock price has cumulatively dropped about 45% from the peak on its first day of trading. The market value once soared to $66 billion before retreating by about $30 billion, raising concerns about bubble risks, retail investor losses, and the IPO mechanism. On its first day of listing, it closed up 460%, far exceeding the average first-day increase of 226% for new stocks in China over the past three years, and then fell for three consecutive days, with the stock price stabilizing somewhat on Tuesday.Unitree is one of the world's leading manufacturers of quadruped and humanoid robots, capable of performing actions such as running, dancing, and martial arts, but broader commercialization remains limited, competing with companies like Tesla and Boston Dynamics. The prospectus shows that the adjusted net profit for the first quarter of 2026 decreased by 53% year-on-year to 40 million yuan, and there are also signs of profit slowing in the first half of the year. The company was listed through a fast-track process on the Star Market, which may set a precedent for other domestic peers.Analysts point out that investors are driven by the "technology revolution narrative," and the first-day performance reflects market sentiment. The discrepancy between IPO pricing and opening price indicates that at least one party is misaligned; there are also views that the rise is more due to motives for raising prices for unloading, with short selling being restricted and retail investors exacerbating volatility. Some institutions believe that robot companies have high R&D investments and that orders have not yet been realized on a large scale, making it inappropriate to focus solely on short-term profits, similar to the early electric vehicle industry.

SK Hynix's China e-commerce flagship store plans to cease operations, with the China region stating it is not directly operated

On August 24, consumers discovered that the "SKhynix Flagship Store" homepage had published a notice of termination of operations, intending to voluntarily cease operations on September 9, 2026, with all products removed from the store. As of August 25, the Taobao platform could no longer directly search for this store. Public information shows that the store previously mainly sold SK Hynix brand consumer solid-state drives, and the operating entity was Tianjin Hailisi Technology Co., Ltd. Tianyancha information indicates that this company was registered in July 2020, with a registered capital of 1 million yuan, and its business scope includes technical services, electronic product sales, etc. Public business information has not yet shown any equity, controlling, or direct affiliation with SK Hynix headquarters or its China region.SK Hynix's China region stated that after verification, the "SKhynix Flagship Store" is not directly operated by the company. Regarding the reasons for closing the store, the operation of other related e-commerce stores, authorization situations, and historical order warranty arrangements, they stated that they are currently verifying internally and with relevant parties. This store closure incident has once again sparked speculation about SK Hynix's contraction of its consumer storage business. In January of this year, there were rumors in the market that it planned to stop producing consumer storage devices and exit the consumer DRAM and NAND business. On January 14, a relevant person from SK Hynix publicly denied this, stating that the company is currently not discussing or planning to exit the consumer product business.

first_img Uniswap founder: Tokenization will reshape the market-making landscape, and AMM is still in its early stages

Uniswap founder Hayden Adams stated that after nine years of DeFi practice, the path for AMM to become the core engine of the global financial market is becoming increasingly clear. He pointed out that tokenization is not only an infrastructure upgrade but also changes who provides liquidity and what is traded in the market. The SEC has approved Nasdaq and the New York Stock Exchange to trade tokenized stocks, and the DTCC also conducted live testing of tokenized trading in July.Adams believes that traditional market makers vertically integrate capital, strategy, execution, settlement, and distribution, which is costly; blockchain disassembles these components, making capital a scarce input. Liquidity providers who already hold relevant assets or are the issuers themselves can bear inventory exposure at zero cost, thereby weakening professional market makers with lower capital costs. An on-chain "related asset pair" model has naturally formed (such as the Ethereum ecosystem pairing with ETH and stablecoins), as correlation reduces inventory risk and deepens liquidity.He cited that there are already 10 tokenized stocks on the Robinhood Chain forming a Uniswap pool with SPY, which has traded approximately $33 million in 12 days, with some trades occurring directly between stocks without touching the dollar. Adams also stated that although Uniswap's cumulative trading volume has reached about $4.6 trillion, AMM is still in its early stages, and there is significant room for improvement in subsequent design and ecosystem.

Grayscale Zcash spot ETF lands on the New York Stock Exchange Arca, tZERO partners with Sui to access U.S. compliant securities clearing

According to BBX data, yesterday global digital asset funds, compliant financial infrastructure, and institutional merger and acquisition transactions disclosed the latest official ledgers and capital flows. The core dynamics are as follows:Grayscale Zcash spot ETF officially listed on the NYSE Arca: Grayscale's Grayscale Zcash Trust has officially completed its conversion and is now trading as a spot ETF on the New York Stock Exchange Arca, with the stock code "ZCSH". A Grayscale spokesperson stated that the management fee for this ETF is 2.5%, and all income generated will be reinvested into the Zcash ecosystem to promote and enhance the infrastructure and broader development of this privacy network.tZERO and Sui reach strategic cooperation to connect compliant securities infrastructure in the US stock market: Leading blockchain financial infrastructure platform tZERO announced a strategic partnership with the public chain Sui. tZERO will provide full-process support for regulated digital asset securities trading within the Sui ecosystem, covering asset issuance, transfer agent, asset custody, secondary matching transactions, compliance review, and clearing and settlement, significantly expanding Sui's ability to access US domestic financial infrastructure that meets institutional standards.Crypto custodian Copper receives a $200 million potential acquisition offer, valuation down over 90% from peak: The UK-based veteran crypto custodian Copper, once valued at $2.5 billion, has recently attracted interest from new potential buyers, but the acquisition offers received so far are only about $200 million. This valuation not only has significantly decreased but is also far below the $500 million acquisition intention proposed by Cantor Fitzgerald a few months ago, reflecting the valuation pressure in the institutional custody sector amid the transition between bull and bear markets and regulatory reshuffling.RockawayX plans to raise $150 million for a new liquidity fund: Digital asset investment firm RockawayX, which manages approximately $2 billion in assets, announced that it is currently seeking to raise $150 million for its new "Liquidity Opportunity Fund." Previously, RockawayX successfully completed the full acquisition of the crypto hedge fund Relayer Capital, continuously expanding its layout in the secondary market and liquidity strategies.
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