Flash News

TREE NEWS reports: Farmmi Inc., a microcap mushroom seller, surged 350% in heavy trading on Nasdaq before quickly correcting, with over 720 million shares traded—nearly 90 times its daily average. The move highlights memecoin-style speculation spilling into US equities.

TREE NEWS reports: Binance co-founder Changpeng Zhao (CZ) noted that some ‘hot money’ is rotating back from AI into the cryptocurrency market. He observed this trend as investors seek opportunities in digital assets again.

TREE NEWS reports: Tether has released an open-source AI translation model that can operate offline, aiming to enhance privacy and accessibility. The model is part of Tether’s broader push into AI technologies, though it does not directly involve tokenization of real-world assets.

TREE NEWS update: Glassnode analysts indicate Bitcoin is likely to remain in a range-bound pattern, with key resistance between $83,000 and $86,000. The firm suggests that market conditions may not support a breakout in the near term.

TREE NEWS reports: Bitcoin’s apparent demand indicator turned negative again, ending a brief August rebound, as BTC slipped below $77,000 amid a broader bond and equities sell-off. The on-chain metric points to weakening investor appetite for the cryptocurrency.

TREE NEWS update: OpenSea has integrated Solana NFT support on its OS2 platform, enabling users to browse, buy, and sell Solana-based NFTs. This expansion broadens OpenSea’s cross-chain capabilities and strengthens its position in the NFT market.

TREE NEWS reports: Bitcoin held above $77,000 on Wednesday after ADP reported just 38,000 private jobs added in August, down from 44,000 in July, prompting traders to raise odds of a September Federal Reserve rate increase. The muted reaction came as 84 of the 125 largest non-stablecoin tokens fell, while gold rose 0.84% and the Nasdaq 100 dropped 1.29%.

TREE NEWS update: Polygon Labs announced that its Open Money Stack has successfully completed a SOC 2 Type 1 audit, demonstrating its commitment to security and compliance. This certification is a significant milestone for the blockchain infrastructure provider, enhancing trust among institutional clients.

TREE NEWS reports: Solana-based meme coin SOLCAT surged over 14x intraday, briefly pushing its market cap above $3.4 million. The rally highlights continued speculative interest in Solana ecosystem meme tokens.

TREE NEWS reports: ArbitrumDAO reported $6.19 million in revenue for the first half of 2024, with Robinhood Chain contributing 35% of July’s revenue. The report highlights the growing influence of institutional adoption on Arbitrum’s ecosystem.

TREE NEWS reports: ArbitrumDAO generated $6.19 million in income during the first half of the year. In July, license fees from the Arbitrum Expansion Program, totaling $360,000, accounted for 35% of the DAO’s monthly income. That month marked the first full month Robinhood Chain operated on mainnet.

TREE NEWS update: Analyst Garrett Jin notes Bitcoin has held the $76,600 support level, suggesting a potential move higher if it breaks above $79,000. The analysis focuses on price action and technical levels, with no direct link to RWA tokenization.

TREE NEWS reports: Backpack US, a crypto exchange, has appointed Kyle Samani, co-founder of Multicoin Capital, to its board of directors. This move signals strategic growth for the exchange, leveraging Samani’s expertise in crypto investments.

TREE NEWS update: Crypto influencer Rune revealed that the proposal to acquire a Nasdaq-listed company was generated by Claude, an AI, and that the associated data was fabricated or exaggerated. The disclosure raises questions about the authenticity of information in the crypto space.

TREE NEWS update: Two Thai businessmen have sued Tether, claiming the company unlawfully froze access to their stablecoins months before U.S. federal authorities obtained a seizure warrant. The lawsuit alleges Tether blocked $42.4 million in USDT without legal basis, causing financial losses. The plaintiffs seek damages and the release of their funds.

TREE NEWS reports: Nasdaq-listed Chinese company Farmmi (FAMI) saw its share price pull back from an intraday high of $0.50 to around $0.18, still up 50%. The stock remains significantly higher despite the sharp decline from its peak.

TREE NEWS update: Officials from G20 members, under the US presidency, recognized that digital assets could support broad-based economic growth and called for improvements in cross-border transactions. They touted ‘clear pathways’ for digital asset innovation, signaling a supportive stance from major economies.