LianGuai Morning News | Meitu releases mid-year performance report for 2023 The book value of held cryptocurrencies increases by 186 million yuan.

LianGuai Morning News | Meitu releases mid-year performance report for 2023. Cryptocurrency holdings increase by 186 million yuan.


TUSD Surpasses BUSD to Become the Fourth Largest Stablecoin by Market Cap

LianGuai reports that according to the latest data from Coingecko, with the surge in market cap of TUSD from about $2.9 billion to about $3.44 billion yesterday, it has surpassed the market cap of Binance USD (currently about $2,877,134,989) to become the fourth largest stablecoin by market cap, only behind Tether ($82,867,713,960), USD Coin ($26,157,470,383), and Dai ($3,863,756,950).

Meitu Releases Mid-Year Performance Report for 2023: Reversal of Impairment Losses on Cryptocurrency Holdings totaling 186 million RMB

LianGuai reports that Meitu recently released its mid-year performance report for 2023. The data shows that in the first half of this year, Meitu’s revenue reached 1.261 billion RMB, a year-on-year growth of 29.83%; the net profit attributable to shareholders reached 228 million RMB, turning losses into profits compared to the same period last year, and surpassing the previously forecasted range of 220 million RMB to 265 million RMB. Public information shows that Meitu accumulated the purchase of 31,000 units of Ether (ETH) and about 940.89 units of Bitcoin (BTC) in 2021, with a total price of $100 million, equivalent to approximately 670 million RMB. Meitu’s cryptocurrency holdings suffered significant losses during last year’s bear market. However, starting from this year, as cryptocurrency prices rebounded, Meitu’s impairment losses recovered by 186 million RMB, becoming the largest contributor to improved performance.


According to coinmarketcap data at the time of writing:

BTC recent trading price is $25,852.5, with a daily change of +0.35%;

ETH recent trading price is $1,636.55, with a daily change of +0.61%;

BNB recent trading price is $214, with a daily change of +0.33%;

XRP recent trading price is $0.49912, with a daily change of +0.25%;

DOGE recent trading price is $0.063405, with a daily change of -0.31%;

ADA recent trading price is $0.2552, with a daily change of +0.14%;

SOL recent trading price is $19.46, with a daily change of +1.06%.


Hedge Funds and Private Equity Fund Groups in the United States Sue the SEC, Claiming It Has “Gone Too Far”

LianGuai reports that the industry groups of the largest hedge funds and private equity funds in the United States are suing the Securities and Exchange Commission (SEC) over new restrictions imposed on the industry last month. Some organizations, including the Investment Adviser Association and the Managed Funds Association, said, “The SEC has implemented sweeping new rules requiring disclosure and banning firms from engaging in certain transactions with certain investors, and this has gone too far.” These organizations also represent a large number of smaller firms, and they are asking the court to overturn the regulations. In a petition submitted to the court, these groups wrote, “The new rules will fundamentally change the way private funds are regulated in the United States.” The regulations, which were passed on August 23, will require private funds to provide detailed information on quarterly fees and expenses to investors, and private fund firms will also be prohibited from allowing certain favored investors to have easier access to liquidity than other investors, unless these transactions are made available to all fund investors. A representative from the SEC did not immediately respond to a request for comment from reporters. (The Wall Street Journal)

US SEC reportedly holds closed-door meeting this Thursday, may seek settlement with Ripple

LianGuai reported that the US Securities and Exchange Commission (SEC) held a closed-door meeting on Thursday, August 31, 2023. There are rumors that this confidential meeting may involve a settlement with Ripple. The Sunshine Act Notice issued by the SEC afterwards provided limited details about the meeting, leaving room for market speculation. The topics of discussion are said to include the formulation and settlement of injunction actions, institutional and resolution of administrative litigation, resolution of litigation claims, and other matters related to inspection and enforcement procedures. It should be noted that as of now, the SEC and Ripple Labs have not provided any official confirmation of a Ripple settlement or any specific details regarding the discussions. LianGuai previously reported that Ripple filed a motion opposing the SEC’s interim appeal.

Tharman Shanmugaratnam elected as Singapore’s ninth president, previously acknowledged the disruptive potential of blockchain technology

LianGuai reported that Tharman Shanmugaratnam, an Indian-Singaporean, has been elected as Singapore’s ninth president. Tharman clarified his views on cryptocurrency regulation during the World Economic Forum earlier this year, stating the need for regulation of cryptocurrency money laundering but also expressing a preference for educating consumers. Tharman also spoke about the potential of blockchain to make global payment systems more efficient, noting that “some blockchain applications are likely to provide some disruption and the innovation that’s needed.”

Blockchain Applications

Foreign media: German and British users can now purchase cryptocurrencies on Coinbase using LianGuai’s platform

LianGuai reported that Bitcoin News announced on X platform (formerly Twitter) that users from Germany and the United Kingdom can now purchase cryptocurrencies on Coinbase using LianGuai’s platform.

Standard Chartered Hong Kong supports students to intern at virtual bank Mox, in line with the Hong Kong Monetary Authority’s “Fintech 2025” initiative

LianGuai reported that on September 2nd, Standard Chartered Hong Kong CEO Mary Huen stated that Standard Chartered Hong Kong will promote the comprehensive application of fintech in the banking industry, in line with the Hong Kong Monetary Authority’s “Fintech 2025” strategy, to benefit more citizens and local economic development. The bank has been providing internship opportunities at various departments of Standard Chartered Hong Kong and its virtual bank Mox for fintech students for three consecutive years, expanding the local fintech talent pool.


Lybra Finance has sold 169,000 units of LBR

LianGuai Report: According to Spot On Chain monitoring, Lybra Finance, an early supporter of 0x675, sold 169,000 LBR tokens at an average price of $1.2 at around 05:49, exchanging them for 204,000 USDC tokens. This caused the price to drop nearly 5% after the sale. It is worth noting that since May 1st, the trader has received a total of 337,000 LBR tokens as rewards and sold them all for a value of $389,000 in USDC, ETH, and MKR.

As of August 31st, the circulating supply of USDC has risen to 26.1 billion tokens.

LianGuai Report: According to data from Circle’s official website, from August 24th to August 31st, Circle issued approximately 1.1 billion USDC tokens and redeemed approximately 800 million USDC tokens. The circulating supply increased by approximately 300 million tokens. As of August 31st, the circulating supply of USDC reached 26.1 billion tokens, with a reserve of $26.3 billion.

Data: The circulating supply of USDT decreased by nearly 1 billion tokens, a decrease of 1.15%.

On September 3rd, according to Coingecko data, the circulating supply of USDT decreased from a low of 83.82 billion tokens to 82 billion tokens in August, and ended the month at 82.85 billion tokens, a decrease of 1.15%.

Data: Open interest in Bitcoin and Ethereum futures decreased, while options open interest increased.

LianGuai Report: According to data from The Block Pro, open interest in Bitcoin and Ethereum futures decreased in August, with a 14% decrease in open interest for Bitcoin futures and an 18% decrease for Ethereum futures. In terms of futures trading volume, Bitcoin futures trading volume in August decreased by 5.3% to $603 billion. The open interest in Bitcoin futures on CME decreased by 4.8% to $2.23 billion, and the average daily trading volume decreased by an even larger margin of 16.6% to approximately $1.37 billion. However, in terms of cryptocurrency options, both Bitcoin and Ethereum options open interest increased in August, with a 13% increase for Bitcoin options and a 16% increase for Ethereum options. In addition, both Bitcoin and Ethereum options trading volume increased, with an 11% increase in Bitcoin options trading volume to $21 billion and a 5.1% increase in Ethereum options trading volume to $11.2 billion.

TUSD Launches New Website, Current Redemption and Minting Operations Are Normal

LianGuai Report: According to an announcement on the official social media of TrueUSD (TUSD), the US dollar stablecoin, they have launched a new website tusd[.]io. The new platform features new graphics and intuitive navigation, aiming to enhance the user interface and experience. Furthermore, TrueUSD clarified that all current redemption and minting operations on the platform are normal. According to data from the TrueUSD official website, at the time of writing this article, the total transaction volume has reached nearly 5 million transactions (4.91 million transactions).

TUSD Circulating Supply Surged Over $500 Million Yesterday

On September 2nd, according to CoinGecko data, the circulating supply of TUSD increased by over $500 million, rising from around $2.9 billion to over $3.4 billion.

Data: On-chain Transaction Volume of Stablecoins Increased to $520.9 Billion in August, USDT Market Share Exceeded 77%

According to LianGuai, data from The Block Pro shows that the on-chain transaction volume of stablecoins increased to $520.9 billion in August, with a growth rate of about 6.8%. This is one of the few crypto indicators that have shown an increase in the past month. However, the total supply of issued stablecoins continued to shrink to $115.1 billion, a decrease of about 2.2%. The market share of the stablecoin USDT continued to rise (reaching 77.2%) with a supply of $82.9 billion, while the market share of USDC further declined to 21.1%. However, the on-chain total transaction volume of Bitcoin and Ethereum both decreased by 6.3%, falling to $176 billion, with Bitcoin’s on-chain transaction volume decreasing by 6.7%, while Ethereum’s on-chain transaction volume decreased by 5.7%.

XRP Transfers Surge, Whale Alert Sparks Speculation

According to LianGuai, Whale Alert reported that 66,666,659 XRP (equivalent to about $33,065,809) was transferred from Binance to an undisclosed wallet. This significant move has sparked speculation about its potential impact and its proximity to the $1 price point. Ripple’s recent development has intensified people’s interest. Another major event in the XRP ecosystem involves Ripple depositing a large amount of XRP into a secure custodial account. It is worth noting that 300,000,000 XRP (worth $146,927,854) and an additional 500,000,000 XRP (equivalent to $244,748,526) have been deposited.

A Whale Transferred 3.55 Million XRP to Exchanges in Batches Over the Past Week

On September 3rd, according to Whale Alert monitoring, an address starting with “rp6J” transferred 424,875,620 XRP tokens to an unknown address, with a total value of approximately $213 million. Odaily Star Daily found that the whale address, starting with “rp6J,” was first used on August 20th to collect and transfer a total of 427 million XRP tokens to an address starting with “rK3P” through multiple addresses. Afterwards, the address starting with “rK3P” transferred 750,000 tokens to the Dutch exchange Bitvavo and transferred the remaining tokens to the next address. This process was repeated, ultimately leading to the current address. Over the past week, during this transfer process, the whale has transferred a total of 3.55 million XRP to exchanges, equivalent to approximately $1.76 million.

Important Economic News

▌China Merchants Bank Releases “2023 China Private Wealth Report,” 3.16 Million People Have Assets Exceeding 10 Million

According to data from Golden Ten, China Merchants Bank has released the “2023 China Private Wealth Report,” which states that 3.16 million people in China have assets exceeding 10 million. The report shows that in 2022, the number of high-net-worth individuals in China with investable assets of over 10 million RMB reached 3.16 million, with an average of approximately 31.83 million RMB in investable assets per person, and a total of 101 trillion RMB in investable assets. The compound annual growth rate from 2020 to 2022 was 10%. The report predicts that in the next two years, the number of high-net-worth individuals in China and the scale of their investable assets will continue to grow at a compound annual growth rate of approximately 11% and 12%, respectively. (Golden Ten Data APP)

44 Companies Announce Delisting within the Year

According to the data from Jinsan, with the recent announcement of voluntary delisting by Jingwei Textile Machinery, the number of delisted companies in the A-share market will expand again. Data shows that in the first eight months of this year, in addition to Jingwei Textile Machinery, a total of 44 companies have announced their delisting, which is close to the total number of delisted companies for the whole year of last year (46). However, the overall number of delisted companies in the A-share market is still very limited. As of the end of last year, the cumulative number of delisted companies did not exceed 200. “More in, less out” is still the current market ecology. Industry insiders pointed out that it is necessary to continuously improve the “in and out” mechanism to create an active capital market. (Securities Times) (Jinsan Data APP)

LianGuai Encyclopedia

Transaction Output

Transaction Output (TxOut) is the output in a transaction, which contains two fields: 1. Output value field: used to transfer 0 or more satoshis; 2. Public key script: used to determine under what conditions these satoshis can be spent.

Disclaimer: LianGuai, as a blockchain information platform, publishes articles for informational purposes only and does not constitute actual investment advice. Please establish the correct investment concept and increase risk awareness.