social

DWF Ventures released a report stating that as trading fees continue to approach zero, social trading is becoming a new direction for financial trading platforms to compete for users and build moats.The rise of social trading stems from users seeking validation from others and references for investment decisions. From early brokerage copy trading to investment communities like Reddit and Stocktwits, and now to platforms that combine real position verification, trading signals, and social relationships, social trading is evolving from a simple copy trading tool into a product form that integrates trading, content, and social interaction. As trade execution becomes increasingly homogenized, the future competitive advantage of platforms may come more from network effects, resources of well-known traders, and exclusive information and distribution capabilities.Analysis suggests that social trading platforms are forming a clear growth flywheel: platforms attract well-known traders and their fans, traders build reputations through public trading, fans amplify market influence by following trades, which in turn increases the visibility of traders and the user base of the platform. Public calls for trades may even generate a certain "self-fulfilling" effect in this process.Platforms also lower the entry barriers for users through one-click trading, low-threshold acceptance, trading competitions, and fee incentives, and leverage the social influence of top traders to facilitate user migration. In the future, the social trading ecosystem in the cryptocurrency and traditional stock sectors may further integrate, and platforms that master trader, user attention, and information flow are expected to form stronger network effects.However, social trading also faces significant structural risks. Data shows that among approximately 292,000 wallets analyzed by the Fomo platform over the past three months, only 6.16% achieved profitability based on realized gains. Followers lack independent investment logic and are easily influenced by herd behavior, while there may also be conflicts of interest between traders and followers.Furthermore, even if platforms can verify public positions, traders may still establish undisclosed positions through other wallets, making information asymmetry difficult to eliminate completely. Analysis suggests that as the boundaries between trading and entertainment continue to blur, platforms that can establish unique information layers, gather quality traders, and form network effects may gain an advantage in the competitive social trading market.

According to a post by Santiment, Grayscale has converted its Zcash trust established in 2017 into a spot ETF, trading on NYSE Arca since August 25. The price of ZEC rose from about $509 on August 18 to about $852 on August 23, an increase of approximately 65%.Santiment stated that social mentions peaked at 232 times on August 22, about six times the baseline level for August, and then fell back to baseline on the day the ETF launched. Interest peaked the day before the price topped, and enthusiasm had waned before the fund opened. As of the post, ZEC is about $796, down approximately 6% from its peak. The market is more in a "rumor" phase, and when the news landed, funds had already begun to exit.

According to CoinDesk, a source revealed that the social media platform X is in discussions on how to use stablecoins (such as Circle's USDC) to pay royalties to influential users for content uploads. The source stated that negotiations with X are still ongoing.He is also working on other social media platforms that are testing the use of stablecoins to pay commissions to influential users.

The attention economy platform Kaito AI launched the browser extension Kaito Pulse on August 18, which can directly integrate users' public holdings and other off-chain activities on platforms like Polymarket and Hyperliquid into the X timeline, and synchronously introduce the attention metric Aura to measure the attention signals generated by users' statements and actual behaviors. Users can accumulate Aura by installing the extension, using Yaps to receive initial Aura, verifying transactions, or engaging in creator activities.Subsequently, well-known analyst @0x_ultra released a source code analysis stating that the extension has multiple data collection behaviors, including generating a unique device fingerprint through GPU rendering, device model, and audio tests, and associating it with the X account; recording user behaviors such as scrolling duration, clicks, searches, bookmarks, etc., during X sessions, and sending heartbeat packets every 30 seconds; reading subscription plans and usage for ChatGPT and Claude during verification, as well as wallet balances, holdings, profits and losses, and deposit/withdrawal records on platforms like Binance. The extension only allows communication with the Kaito domain, and the ZKTLS part is based on the open-source project Primus branch. Kaito officials have not yet responded to this.

According to Bloomberg, Trump is being sued for planning to sell quick access to Truth Social posts.

Solana ecosystem social application Memebook has completed a $1 million seed round financing, with investors TOF and Ventures.According to reports, Memebook is a social application similar to Instagram built on Solana, where users can register using a Solana wallet and share photos, videos, and text posts. It includes a wallet-based authentication system, as well as a verification system for Solana Mobile users and other Solana wallets.

According to FX News Group, the crypto platform Crypto.com and Trump Media & Technology Group Corp (NASDAQ: DJT) announced adjustments to their previously announced prediction market integration plan. The two parties will no longer develop a direct prediction market integration on Truth Social, but will instead shift to a marketing cooperation agreement to promote Crypto.com's prediction market products to the Truth Social user base.According to TMTG interim CEO Kevin McGurn, the company's strategic focus is on increasing revenue for Truth Social, continuing to expand its global media business, and completing the merger with TAE, and this marketing agreement aligns better with the company's priorities.It is reported that Crypto.com is actively expanding its product line beyond digital assets and has recently hired former OKX executive Iskandar Vanblarcum to lead its prediction market department.

Pump.fun announced an upgrade to its social trading feature in the app, further enhancing community interaction and trading experience. This update includes: users can create token alerts to send notifications to all followers; support for zero-fee trading; support for seamless cross-chain trading using USDC.

Robinhood CEO Vlad Tenev posted on the X platform that his X account was hacked last week. The attacker used social engineering to deceive X customer service, bypassing standard security features such as two-factor authentication and login notifications, and posted false content about meme coins.The X security team has assisted in removing the related posts and restoring account access, and additional security measures have been implemented for the account.

According to Caixin, Zhao Yao, a special researcher at the Payment and Clearing Research Center of the Financial Research Institute of the Chinese Academy of Social Sciences, stated that recent offshore digital asset platforms have launched on-chain trading products around Chinese technology companies such as Changxin Technology. This indicates that global digital financial platforms are creating trading exposure around high-quality Chinese technology assets, organizing price expectations, trading liquidity, and cross-border capital entry in advance. Although these products do not correspond to A-share equity, they are synthetic perpetual contracts or pre-market perpetual contracts settled in stablecoins such as USDC and USDT. However, if offshore platforms take the lead in forming a continuous trading market for technology assets, it may weaken the pricing dominance of domestic capital markets over technology assets.Zhao Yao suggested accelerating the construction of digital financial infrastructure for the renminbi, promoting the coordinated development of tokenized deposits by commercial banks, wholesale CBDC, and tokenization of technology assets, and exploring pilot projects for technology asset tokenization in Hong Kong to enhance the capital organization capability and international pricing power of the renminbi in global technology financial competition.

The OKX Wallet officially launched the OKX social login wallet on July 21, 2026. Users can easily create and log in to the wallet using their social accounts, supporting Google, Apple, Email, and more. Up to 50 accounts can be derived, covering multiple mainstream public chains. Welcome to experience it.

According to SoSoValue data, the cryptocurrency market sector has generally rebounded, with the DeFi sector performing outstandingly, rising 2.28% in 24 hours. Among them, Hyperliquid (HYPE) increased by 3.55%, DeXe (DEXE), Uniswap (UNI), and Lido DAO (LDO) rose by 4.96%, 5.32%, and 11.80% respectively. At the same time, Bitcoin (BTC) rose by 0.80%, breaking through $65,000; Ethereum (ETH) increased by 1.88%, surpassing $1,900.In other sectors, the RWA sector rose by 2.02% in 24 hours, with Maple Finance (SYRUP) increasing by 6.13%; the PayFi sector rose by 1.00%, with Telcoin (TEL) increasing by 2.62%; the Layer1 sector rose by 0.62%, with NEAR Protocol (NEAR) increasing by 4.40%; the CeFi sector rose by 0.22%, with NEXO (NEXO) increasing by 1.85%; the Meme sector rose by 0.17%, with Bonk (BONK) increasing by 15.22%; the Layer2 sector rose by 0.04%, with Arbitrum (ARB) increasing by 2.14%.Only the SocialFi sector slightly declined by 0.96%, with Gram (GRAM) decreasing by 0.76%, but Chiliz (CHZ) rose by 3.06%.The cryptocurrency sector indices reflecting historical market trends show that the ssiDeFi, ssiRWA, and ssiDePIN indices rose by 2.38%, 2.14%, and 1.59% respectively.

Social Capital founder Chamath Palihapitiya stated on the X platform that the current cryptocurrency market, especially Bitcoin bulls, is facing two major issues: first, marginal liquidity is more inclined to flow into prediction markets and stock markets; second, the marginal energy used for Bitcoin mining, if reallocated to serve AI token-related demands, could be valued 10 to 20 times higher. Chamath noted that these changes appear to be structural, but there is also a possibility of misjudgment.In response, Coinbase CEO Brian Armstrong said that the first point "seems more like a temporary phenomenon," while the second point may be more enduring. However, the computing power or energy flow used for Bitcoin mining does not directly determine Bitcoin prices, as the network difficulty will automatically adjust to maintain the same block production pace when miners exit. He also stated that, in the long run, Bitcoin prices reflect more of people's concerns about inflation, and there are no signs that the trend of democratic governments around the world continuing to expand fiscal deficits is coming to an end.

According to Axios, Kevin McGurn, the interim CEO of Trump Media & Technology Group, stated that the company will launch a backend interface allowing financial services companies to pay for access to real-time data from Truth Social.McGurn mentioned that this is the company's first expansion of its media business into the data licensing field. The newly launched Truth API will provide customers with real-time access to content published by the top ten trending accounts on the platform.McGurn stated that customers willing to pay higher fees in the future will also gain access to more accounts' data. These accounts include important decision-makers who influence policy-making and geopolitical trends, such as former President Trump, the White House, FBI Director Kash Patel, White House Deputy Chief of Staff Dan Scavino, and U.S. Secretary of Health and Human Services Robert F. Kennedy Jr.

According to SoSoValue data, the cryptocurrency market sectors showed mixed results, with the NFT sector rising 4.50% in 24 hours, among which, Audiera (BEAT) rose 15.29%; the AI sector rose 0.84%, and Billions Network (BILL) rose 24.00%.Other notable sectors include: the CeFi sector rose 0.19%, with Cronos (CRO) rising 0.48%; the Layer1 sector rose 0.03%, with Zcash (ZEC) rising 4.02%; the DeFi sector rose 0.42%, among which DeXe (DEXE) rose 26.88%.In other sectors, the PayFi sector fell 0.59%, but eCash (XEC) rose 10.64%; the Meme sector fell 0.61%, while Pump.fun (PUMP) rose 6.57% against the trend; the Layer2 sector fell 0.94%, with Stacks (STX) falling 4.54%; the SocialFi sector fell 1.98%, with Chiliz (CHZ) falling 2.91%.The cryptocurrency sector indices reflecting historical market trends show that the ssiAI, ssiCeFi, and ssiLayer1 indices rose 1.52%, 0.57%, and 0.54% respectively.

According to Bloomberg, the Commodity Futures Trading Commission (CFTC) is conducting a broad investigation into the prediction market platform Polymarket, covering its business activities including social media operations.Previously, The Wall Street Journal reported that Polymarket hired dozens of social media creators, primarily of college age, to create fake trading videos to attract users. This investigation encompasses other aspects of the company's business. The CFTC and the Department of Justice concluded an investigation last year into whether Polymarket violated the ban on U.S. users, but some U.S. users still access its main platform by circumventing the ban through VPNs and other means.Since reaching a settlement with the CFTC in 2022, Polymarket has technically prohibited U.S. users from using its main platform, but the company is taking steps to reintroduce its main exchange to the U.S. and is cooperating with the CFTC to lift the ban. Senators Adam Schiff and John Curtis sent a letter to the CFTC last Thursday, requesting confirmation of whether an investigation into Polymarket's advertising practices is ongoing and inquiring how the agency has prevented Polymarket from attracting U.S. users since the 2022 action.

According to "On-Chain Detective" ZachXBT's post on his personal channel, Polish social engineering attacker Wojtek Kulisz (online name "Merry") was recently suspected of being raided by Polish law enforcement, along with three others being taken away.Although the official press release did not disclose his name or photo, several designer clothing and jewelry items displayed on his public Instagram account "wojtekk" are highly consistent with the items seized during the police operation. The related case is led by the Polish Central Cyber Crime Fighting Department (CBZC) and has received assistance from agencies such as the FBI and HSI.

According to SoSoValue data, the overall trend of the cryptocurrency market is declining, with the NFT sector down 3.79% in the last 24 hours. Within the sector, Pudgy Penguins (PENGU) decreased by 2.96%, and Audiera (BEAT) fell by 6.29%. Meanwhile, Bitcoin (BTC) dropped by 1.06%, falling below $64,000; Ethereum (ETH) decreased by 1.34%, fluctuating around $1,700.Only the SocialFi sector remained relatively strong, being the only sector to rise today, up 1.23% in the last 24 hours, with Gram (GRAM), renamed from Toncoin (TON), increasing by 2.13%.In other sectors, the DeFi sector fell by 0.47% in the last 24 hours, but DeXe (DEXE) surged by 59.33%; the CeFi sector declined by 0.94%, where OKB (OKB) rose by 2.98% due to various factors including the establishment of a joint venture with Intercontinental Exchange (ICE), briefly surpassing $83 during trading; the Layer1 sector decreased by 1.51%, with TRON (TRX) rising by 1.77% during trading; the Layer2 sector fell by 1.51%, while Celestia (TIA) increased by 5.40% against the trend; the Meme sector dropped by 1.55%, but BUILDon (B) rose by 6.27%; the PayFi sector decreased by 2.04%, while Telcoin (TEL) increased by 8.06%.The cryptocurrency sector index reflecting the historical market performance shows that the ssiAI, ssiDePIN, and ssiRWA indices fell by 7.86%, 5.26%, and 2.97%, respectively.

According to official news, the "social wallet" project ANT.Fun announced the completion of approximately $5 million in strategic financing through the AntFun token, with investors including multiple Web3 institutions such as MH Ventures, Zerra Venture, Zuala Capital, X21 Digital, and Becker Ventures.The project is building a mobile application on the Solana public chain that integrates "social + Alpha trading," supporting voice discussions, opportunity discovery, and one-click trading. The team claims that its protocol has consistently ranked in the top ten for revenue on Solana, and will accelerate the development of social financial infrastructure, cross-community functions, and an artificial intelligence Alpha strategy discovery engine.

"On-chain detective" ZachXBT published a case analysis stating that in a cryptocurrency asset case involving an Indian scam gang, the relevant individuals reported the case to law enforcement after their assets were frozen, drawing attention. The incident began when a user sought help, claiming that approximately 5.73 BTC (about $475,000) was frozen on Changelly in March 2025.Subsequent on-chain analysis revealed that these funds could be traced back to multiple social engineering attacks and theft cases related to Bitcoin ATMs targeting U.S. users, with a total amount involved exceeding $1 million and several elderly victims. The investigation showed that the individual provided multiple changing explanations for the source of the funds, including "loan," "boss transfer," and "investment from 2014-2015," and there were significant contradictions in the evidence chain.More concerning is that this user had previously filed a police report in India in December 2025, attempting to recover the frozen funds (case number 3207-P/2025). Subsequent on-chain evidence collection and email data analysis indicated that they might be a "mule" for transferring funds, with some bank documents inconsistent with their identity information. ZachXBT noted that such cases demonstrate that social engineering attacks and cross-border fund transfers continue to occur and remind users to avoid interacting with funds from suspicious sources to prevent triggering compliance freezes or legal risks.