Weekly Review | Whales Market founder "cut leeks", GM token plummeted after listing; Binance Launchpool listed Toncoin (TON)

BlockBeats will organize the key industry news content of the week (August 12-August 18) in this article, and recommend in-depth articles to help readers better understand the market and learn about industry trends.

Important News Review

Binance Launchpool Launches the 56th Project Toncoin (TON)

On August 13, Binance Launchpool and Super Earn Coin announced the launch of Toncoin (TON), starting at 2024-08-15 00:00 (UTC), and mining will last for 20 days. Toncoin is a decentralized and open L1 blockchain. Binance Super Earn Coin provides a new way to earn coins. Users can subscribe to newly launched token projects through the principal-guaranteed coin-earning regular product and enjoy a limited-time special annualized rate of return (Special APR). Super Earn Coins is an exclusive benefit provided for a limited time after the token is launched, and is applicable to tokens obtained through Launchpool, Megadrop or HODLer airdrops. Users can use these newly launched tokens to subscribe to the principal-guaranteed earning coin regular products and enjoy a limited-time special annualized rate of return for a certain period of time.

OKX will launch DOGS spot trading

On August 14, according to the official announcement, OKX will launch DOGS spot trading. Spot trading will be open at 20:00 on August 20 (UTC+8). It is reported that the image of DOGS is inspired by Spotty, the mascot designed by TON founder Pavel Durov for the Telegram community, which embodies the unique spirit and culture of the Telegram community.

Dogs announced DOGS token economics: total 550 billion, 81.5% of the supply belongs to the community

On August 15, Dogs announced the DOGS token economics. The total supply of DOGS is 550,000,000,000, of which: 81.5% belongs to the community (not locked): 73% belongs to Telegram OGs, who earn DOGS in the application; The rest is used to reward traders, creators and future community members; 10% is allocated to the team and future development; 5% is reserved for CEX and DEX liquidity and listing-related activities.

Xinhuo Technology: Li Lin holds 31.25% of the equity of ABCDE Fund, which has an AUM of US$40 million

Xinhuo Technology, a Hong Kong-listed company, issued a latest announcement stating that it has signed an asset management service framework agreement with its actual controller Li Lin to provide asset management services for its affiliated funds, including ABCDE Fund, New World Fund, New Era Fund and MS Fund, with a management fee of between 1-2%.

The announcement disclosed that as of June 30 this year:

· ABCDE's total assets under management were US$40 million, with Li Lin holding a 31.25% stake.

· New World Fund's total assets under management were US$20 million, with Li Lin holding a 50.00% stake.

· MS Fund's total assets under management were US$18.1 million, with Li Lin holding a 96.13% stake.

According to RootData, ABCDE has a total of 32 investment portfolios, including 12 lead investment projects, including Bitlayer, bitSmiley, Surf Protocol, UTXO Stack, etc.

Trump returns to Twitter and has a live conversation with Musk on X Space

On August 12, former US President Trump posted on X (formerly Twitter) for the first time in three years and said, "They want to shut me up, but I will never shut you up through them. They are not coming for me, they are coming for you. I just happened to be in their way, and I will never give in. We will make America great again! TrumpOnX" The next day, Musk and Trump had a live conversation on the X platform. At the beginning of the conversation, X suffered a large-scale DDOS attack. This Space lasted nearly three hours, and more than 60 million people listened online. The conversation discussed issues such as inflation, immigration, and AI, but did not mention cryptocurrency or Bitcoin. On the day of the conversation, Trump talked to Musk. The concept Meme coin "Yeah" rose to a maximum of $0.00192 20 minutes after the token was deployed, and the trading volume reached $10.28 million in 2 hours. Then it started to fall. Related reading: "More than 60 million people listened, Musk held a lecture for Trump"

GM tokens went online on Wednesday this week, opening down more than 80%

On August 14, gm.ai officials posted on social media that GM tokens have been launched. Pre-sale participants have been airdropped xGM, and GM has been pre-deposited in the anchoring plan. If users choose to continue to participate in the Anchor plan, no action is required. If you need to withdraw cash, you can convert xGM to GM. According to market information, GM went online and touched $0.135 and then entered the "plunge" mode, temporarily reporting $0.014 as of press time. Related reading: "The biggest scam in the cryptocurrency world this year: How much money did Dexter defraud with $GM?"

DefiLlama founder: DEX Screener earns $150,000 to $250,000 a day by charging fees to add token information

DefiLlama founder 0xngmi posted on social media, "Just started tracking the fees of real-time DEX analysis tool DEX Screener on DefiLlama. They make $150,000 to $250,000 a day by charging $300 per token to add information such as TG links and pictures." According to DefiLlama data, DEX Screener's revenue on each chain on August 15 was $123,410 on the Solana chain, $12,430 on the Ethereum mainnet, $5,620 on the Polygon chain, and $1,380 on the Base chain.

US CPI returns to "2000" lower than expected; the Fed may cut interest rates by 25 basis points in September

On August 14, the annual rate of the US unadjusted CPI in July was 2.9%, falling for the fourth consecutive month, the first time it has returned to "2000" since March 2021, and the market expectation is 3%. The annual rate of the US unadjusted core CPI in July was 3.2%, falling for the fourth consecutive month, the lowest level since April 2021, in line with market expectations.

"Federal Reserve mouthpiece" Nick Timiraos later wrote that the July CPI data cleared the way for the Fed to start cutting interest rates at the next meeting. As the labor market has recently shown signs of potential weakness, the debate at the Fed's September meeting will focus on whether to cut interest rates by 25 basis points in the traditional way or a larger 50 basis points. On August 15, futures traders raised the probability of the Federal Reserve cutting interest rates by 25 basis points in September to 74.5% from 65% on Wednesday night.

Blockchain platform Sahara AI completed $43 million in financing, led by Binance Labs and others

On August 14, the decentralized AI blockchain platform Sahara AI announced the completion of $43 million in financing, led by Binance Labs, Pantera Capital and Polychain Capital, and participated by Samsung, Matrix Partners, Siam Commercial Bank of Thailand, Foresight Ventures, dao5, Alumni Ventures, Geekcartel, Nomad Capital, Mirana Ventures, etc. The financing will be used to further expand its global team, improve the performance of its AI blockchain, and accelerate the construction of its developer ecosystem. Related reading: "Raising $43 million, how does Sahara Lianchuang view the intersection of AI and Web3?"

MakerDAO passed the proposal to "reduce the size of WBTC collateral"

On August 16, MakerDAO launched the proposal to "reduce the size of WBTC collateral" on August 12 to deal with the potential risks of changes in custody rights. It has been passed and implemented. Including: Core Treasury: Reduce the WBTC-A DC-IAM quota (maximum collateral) from 500M to 0; Reduce the WBTC-B DC-IAM quota (maximum collateral) from 250M to 0; Reduce the WBTC-C DC-IAM quota (maximum collateral) from 500M to 0; SparkLend: Prohibit borrowing WBTC; Reduce the loan collateral ratio of WBTC from 74% to 0%.

Previously, BitGo and BiT Global announced that they were creating a joint venture to provide multi-jurisdictional custody for WBTC. BiT Global is a regulated trust and corporate service provider (TCSP) based in Hong Kong, which has a strategic partnership with Justin Sun and the Tron ecosystem. BA Labs, a crypto risk analysis and assessment agency, said that given the upcoming change in WBTC custody, WBTC collateral integration faces higher potential risks on Maker and SparkLend. If Bitgo or other relevant parties cannot convincingly prove the security of maintaining the existing WBTC collateral integration, BA Labs will consider further adjusting parameters to protect the protocol until WBTC collateral on Maker and SparkLend is completely removed. Related reading: Why is the market reaction to Justin Sun's entry into WBTC so strong? 》

Grass: Snapshot is being taken to confirm airdrop qualifications

On August 15, Grass posted on social media that the project is taking a snapshot to determine the upcoming airdrop qualifications, and the user's network participation (weighted by epoch) will be used as the reward benchmark. Details on how to check airdrop qualifications will be provided in the coming weeks, and more information about token economics will be shared.

Binance Labs announces investment in MyShell

On August 15, Binance Labs announced an investment in the decentralized AI ecosystem MyShell. MyShell is a decentralized AI ecosystem that allows everyone to build, share and own AI applications. MyShell has four pillars: an open source model layer, an AI creation platform, an AI application store, and a value incentive network. It is reported that MyShell has more than 60,000 creators, some of whom have taken the lead in trying to make profits through the AIpp Store (MyShell's on-chain trading market). The top AIpp transaction volume reached $300,000. A rough calculation shows that the creator's transaction fee income and AIpp floating profit have accumulated to tens of thousands of dollars. The early investors of the top AIpp have increased by more than 10,000 times, and currently still have a floating profit of 3,000 times. MyShell has now become the only ecosystem in the encryption field with rich scenarios, including AI raw pictures, videos, games, personal assistants and other diverse scenarios, and the number of registered users has exceeded three million.

Vitalik: All "Animal Coins" received in the past year have been donated to charity

On August 15, Vitalik said on his social platform, "Charitable donations have been completed, covering all "Animal Coins" in the past year or so. Having said that, I prefer that the coins be directly allocated to charities. It's 2024 now, and we can start funding more complex public goods." The picture shows that Vitalik donated 200 ETH, equivalent to about $530,000.

It is reported that on August 5, the Meme coin Neiro on the Ethereum chain also transferred 17.1 billion Neiros (4% of the total) to Vitalik's address through the deployment address after it was created. Perhaps affected by Vitalik's charitable donations, Neiro briefly broke through $0.00005, with a 24-hour increase of 1104%. The market value exceeds $21 million, and the 24-hour trading volume reaches $7.82 million.

Polymarket predicts that Harris's chances of being elected will surpass Trump by 10%; Harris may continue the Biden administration's crackdown on cryptocurrencies

On August 15, Polymarket predicted that Harris's chances of being elected will surpass Trump by 10%, Kamala Harris's chances of winning the 2024 US presidential election rose to 54%, and Trump's chances of winning the 2024 US presidential election fell to 44%. Harris is reportedly working with two former economic advisers to the Biden administration, Brian Deese and Bharat Ramamurti, who strongly opposed the previous 2023 Payment Stablecoin Clarity Act, believing that the bill was too lenient on issuers. Alex Thorn, head of research at Galaxy, said Harris' choice of economic advisers may indicate that she intends to continue the Biden administration's hostile crypto regulatory approach. Related reading: "Harris's approval rating surpasses Trump by 8%, and the currency circle may face a new wave of regulatory pressure"

This week, the "US government" associated address has reappeared large transfers, but there is a possibility of "custody only"

On August 15, the "US government" associated address starting with bc1ql transferred 10,000 BTC to the Coinbase Prime wallet, worth approximately US$593.5 million. It is reported that bc1ql received 10,000 BTC from a known US government wallet two weeks ago, which was funds seized in the Silk Road law enforcement operation. Previously, the US Marshals Service, an agency under the US Department of Justice, announced a partnership with Coinbase Prime to "protect and trade" large digital assets. Analysts say that deposits to trading platforms usually indicate an intention to sell assets, but in this case, the transfer may be for custody reasons. According to statistics, the US government transferred 15,940 bitcoins to Coinbase Prime in three times this year, worth about $966.4 million. In the three days after the first two transfers, the price of BTC fell by about 5%.

After a decade of running, Mt.Gox creditors may be nearing the end of repayment

On August 14, according to Arkham Intelligence data, a wallet that received more than $2 billion in Mt. Gox bitcoins transferred most of the funds to another wallet on Tuesday. After confirming that what appeared to be a test transaction was completed on Tuesday morning, Arkham speculated that the wallet may belong to the cryptocurrency exchange BitGo, which may mean that the Mt. Gox incident is about to enter its final stage. Since the collapse of Mt.Gox, creditors have experienced a long wait of 10 years. For most of July this year, Mt. Gox transferred billions of dollars worth of bitcoins to designated cryptocurrency trading platforms, including Bitbank, Kraken, Bitstamp and SBI VC Trade. These trading platforms are responsible for distributing these bitcoins to Mt.Gox creditors.

Former TON Foundation members founded TON Ventures with an initial size of $40 million

On August 14, it was reported that former TON Foundation members Ian Wittkopp and Inal Kardan founded TON Ventures with an initial size of $40 million. TON Ventures mainly invests in startups within the TON ecosystem, focusing on areas such as decentralized finance, games, advertising, marketing and regulated financial products. Wittkopp said that the size of the $40 million fund may increase if more partners are added in the future. TON Ventures currently supports more than a dozen startups including Catizen, Tradoor and Evaa Protocol. The average investment amount of the fund is $500,000 or less, but it will also participate in late-stage "strategic" transactions such as large agreements. The fund is expected to be fully deployed within a year.

FarCon Asia, the first offline Farcaster ecosystem event in Asia, will be held in Singapore on September 17

FarCon Asia, the first offline Farcaster ecosystem event in Asia, will be held at Art House in Singapore on September 17. The event is hosted by Tako Protocol and co-hosted by BlockBeats and Jam. It aims to deeply explore and showcase the innovative achievements of the Farcaster ecosystem and the future prospects of Web3 social networking, and convey a new narrative perspective. More than 30 institutions including Farcaster Warpcast, Base, A16Z, Berachain, Monad, BNB Chain, Eigenlayer, Blast and many Farcaster ecosystem KOLs will attend and participate in the event.

Event registration link: https://lu.ma/l46ff22c

Arthur Hayes: The alt season will come after Bitcoin and Ethereum break through $70,000 and $4,000 respectively

On August 13, BitMEX co-founder Arthur Hayes said in his latest blog post that Yellen will inject at least $301 billion and up to $1.05 trillion from now until the end of the year. This will create a brilliant bull market for all risk assets, including cryptocurrencies, before the election. Bitcoin's next stop will be $100,000. And after Bitcoin and Ethereum break through $70,000 and $4,000 respectively, the alt season will return. Related reading: "Arthur Hayes: Cryptocurrency may get rid of the downturn in September, and 2025 will be a brilliant crypto bull market"

"Study Abroad" company uses virtual currency to launder money, and the Shandong police in China arrested 9 related suspects

On August 15, according to the Qingdao Evening News, a case handled by the Qingdao police that used virtual currency USDT to assist in information network crimes is about to be reviewed and prosecuted. 9 related criminal suspects were arrested, and the funds involved exceeded 8 million yuan. At present, these 9 people have been taken criminal compulsory measures in accordance with the law and will be reviewed and prosecuted. The public security organs remind citizens not to lend their ID cards, bank cards, and public accounts with their own identity information to others to prevent them from being used for illegal and criminal activities.

A Chinese man was kidnapped in Malaysia, and his family paid a virtual currency ransom worth $1.2 million

On August 15, according to Caixin.com, the Malaysian police recently cracked a kidnapping case involving Chinese citizens. The victims were a Chinese man and a local woman who were kidnapped after arriving in Malaysia in July. After their families paid a ransom of $1.2 million (about RMB 8.62 million) in virtual currency, the two victims were released. During the investigation, the police had a fierce gun battle with the kidnappers in the Skudai district of Johor, and eventually shot and killed four kidnappers. In addition, the police recovered about $373,000 (about RMB 2.68 million) in cash, as well as vehicles, watches, jewelry and other items worth about $700,000 (about RMB 5.02 million). The mastermind of the case was the victim's private driver.

Singapore authorities prosecute two Chinese bank account managers for involvement in Singapore's largest money laundering case

On August 15, according to Lianhe Zaobao, Singapore prosecuted two former Chinese bankers, the two men were 26-year-old Wang Qiming and 35-year-old Liu Kai; the third accused person was a Singaporean driver, 41-year-old Liew Yik Kit. Wang Qiming was a former account manager of Citibank. Singapore accused him of assisting two criminals in making false loan agreements and deceiving Standard Chartered Bank and Citibank about the source of their deposits. Liu Kai was a customer relationship manager of Julius Baer and was accused of instigating Lin Baoying, the only female defendant in the case, to use forged tax documents as supporting documents for opening an account. In addition, the newly accused driver Liew Yik Kit was suspected of concealing the luxury cars left by his fugitive employer from the police, causing the Singapore police to miss the opportunity to seize the four luxury cars, and was suspected of obstructing justice.

Hot articles this week

《The biggest scam of the year in the cryptocurrency circle: How much money did dexter defraud with $GM? 》

On August 14, gm.ai officially posted on social media that the GM token has been launched. Pre-sale participants have been airdropped xGM, and GM has been pre-deposited in the anchoring plan. If users choose to continue to participate in the Anchor plan, no action is required. If you need to withdraw, you can convert xGM to GM. Airdrop participants can claim it from the mini-program within 24 hours. From March 18 to August 14, it took such a long time for pre-sale participants to transfer coins. I thought the big one was coming, but I didn’t expect to lose 100% as soon as it went online. If you invested 10 SOL during the pre-sale, you can only get 2.5 SOL if you sell it now. If the project founder dexter sells the mined tokens immediately after the listing, the total income will be about 1.642 million US dollars. If calculated according to the highest price after the listing, the total income will reach 2.618 million US dollars.

《Why is the market response so strong to Justin Sun's entry into WBTC? 》

BitGo officially shows that BitGo and BiT Global are creating a joint venture to diversify WBTC's custody and cold storage businesses across multiple jurisdictions, and BitGo will become a minority shareholder in the new joint venture. BiT Global is a regulated trust and company service provider (TCSP) with a strategic partnership with Justin Sun and the Tron ecosystem. Users speculate that Justin Sun may have significant influence or control in the joint venture that manages WBTC. This matter has a significant impact on the DeFi market, and the market is worried that the transfer of control of WBTC to him will bring unpredictable risks.

《More than 60 million people listened, Musk held a lecture for Trump》

On August 13, Musk and former US President Donald Trump held a Space dialogue on the X platform. Musk first explained that Twitter had suffered a large-scale server network attack, and then started the conversation from Trump's assassination attempt, and talked about various social and political issues such as illegal immigration, border security, economic challenges, and global security. The conversation did not mention the development of the cryptocurrency industry, but talked about the need for the current US government to pay more attention to the artificial intelligence industry.

《Exclusive interview with GMGN, the leader in the "modular CEX" track: meme is the "new retail era" of asset issuance》

For several months, GMGN has become the most relied-on tool for many meme players to "sweep the chain". On the basis of presenting the trend of tokens, GMGN packages the on-chain data into trading signals. The "information gap" that is difficult for novices to obtain, such as "rat warehouses, large coin holders, KOL positions, and smart money movements", has now become a product within the reach of users, and it also drives the meme gameplay to be faster and more radical.

《Arthur Hayes: Cryptocurrency may get rid of the downturn in September, and 2025 will be a brilliant crypto bull market》

In this cycle, Bitcoin and Ethereum now have structural buying in U.S.-listed exchange-traded funds (ETFs). Although Bitcoin and Ethereum have pulled back since April, they have escaped the altcoin market's fiasco. The altcoin season will only come back after Bitcoin and Ethereum break through $70,000 and $4,000, respectively. Solana will also exceed $250, but considering the relative market capitalization, Solana's rise will have far less impact on the wealth effect of the entire crypto market than Bitcoin and Ethereum. By the end of the year, the rebound of Bitcoin and Ethereum driven by US dollar liquidity will lay a solid foundation for the return of the sexy altcoin party.

《Ethereum's resurgence: a review of EVM public chains with expected coin issuance in the second half of the year》

As a pioneer in the blockchain industry, Ethereum has experienced many fluctuations and challenges in recent years. However, as projects are launched one after another, the EVM public chain ecosystem is regaining new vitality. This article will review some EVM public chains that are expected to issue coins in the second half of the year.

"Why are there always voices of pessimism about Ethereum in the market? "

At the end of July, the Ethereum spot ETF was officially approved and listed. It seems that due to the favorable landing, the actual effect of the listing of the ETF on Ethereum is not satisfactory, and the price of the currency has fallen instead of rising. Last Monday, with the circuit breakers of stock markets in many countries, the crypto market ushered in a tragic plunge. Ethereum once fell below $2,100, wiping out all gains this year. Two days ago, the Ethereum network gas fee dropped to 1 gwei. During this cycle, with the rise and prosperity of the Solana ecosystem, there have been many voices in the market that "sing the pessimism" about Ethereum.

The New York Times: Tether Co-founder and His Broken Crypto Dream

In 2017, Tether co-founder Pierce moved to Puerto Rico, where he had invested in a series of experimental cryptocurrency companies. With the help of a think tank, he made an astonishing promise to revitalize the local economy. Pierce is known for his involvement in the creation of USDT, one of the world's most popular digital currencies. He led a wave of industry immigrants to Puerto Rico, many of whom began buying land and hyping a project they called Puertopia, wanting to transform the U.S. territory into a center for cryptocurrency investors and technology startups.

《32nd Week On-Chain Data: The Bottom May Have Appeared, Waiting for the Fed's Loosening Cycle to Come》

The overall market sentiment is currently neutral. After the sharp correction last week, market sentiment has eased, and purchasing power has rebounded slightly overall. This week, it is expected that if market purchasing power and positive sentiment have not rebounded significantly, and taking into account potential off-site factors (jump wallets or other wallets), the market may have a limited rebound and be more inclined to range fluctuations.

《Dialogue with Raydium: The biggest beneficiary of the pump.fun effect》

This article delves into the development and challenges of Raydium in the Solana ecosystem, and reviews the significant growth in Raydium's trading volume driven by meme coins. In addition, the article reviews Raydium's early history and its relationship with FTX and Serum, and explores the impact of Pump.fun on the on-chain ecosystem.

《What's special about Sui's technology?》

This article delves into Sui's core technologies such as object-oriented data model, Sui Move programming language, network structure, and dynamic NFT standards, and introduces its zkLogin that simplifies user experience and DeepBook that provides reliable trading infrastructure. Although Sui still faces many challenges in the face of mature EVM ecosystems and other competitors, its unique innovations may help it win a place in the highly competitive crypto market.

《A strong rebound of 140% in a single week, Sui wants to be the next "Solana"? 》

Sui has been very popular on social media recently. Many people compare Sui to the "Solana killer" and make many analyses of Sui's network performance and the K-line trend of the SUI token. A bullish sentiment on SUI seems to be spreading. But can this statement really stand up? How is Sui's ecological development?

《Beyond GPU leasing, how Prime Intellect makes decentralized AI training possible》

With Nvidia's market value exceeding $3 trillion in the middle of the year, GPU computing power leasing has become the hottest track in the field of encrypted AI in 2024. However, most projects only stay at the stage of aggregating computing resources and fail to solve the core problem of decentralized AI training-model training across distributed GPU clusters. The cutting-edge project Prime Intellect is trying to break this bottleneck. Crypto researcher Teng Yan wrote an article discussing Prime Intellect's innovative solutions and how it is expected to lead the future of decentralized AI training.

《Multicoin Capital: Why do we invest in the decentralized AI talent market CrunchDAO? 》

On August 15, CrunchDAO core contributor Crunch Lab completed a $3.5 million seed round led by Multicoin Capital, bringing its total financing to $5.3 million. CrunchDAO is a platform for artificial intelligence researchers to participate in distributed machine learning competitions. In addition to other rewards, CrunchDAO members can also earn CRNCH tokens by participating in competitions to gain governance rights over the platform. Multicoin Capital investment partner Shayon Sengupta expressed his insights on this investment and is optimistic about CrunchDAO's potential to achieve collective intelligence with a decentralized AI talent market.

《With the explicit support of Unisat, what is special about Fractal, the Bitcoin expansion solution? 》

The expansion issue has always been the key direction of the BTC ecological development, but as the overall popularity of the sector declines, many BTC ecological creative projects, including various expansion solutions, have gradually faded out of people's sight. However, behind the impetuous market sentiment, "still working" is still an appropriate description of the status of many project teams. On August 13, Fractal, a native expansion solution based on the BTC core code supported by UniSat, opened its official water channel. Combined with the previous news that Unisat will launch Fractal Bitcoin in September, the editor couldn't help but have some interest in this project, so he went to the Fractal official website to take a look and roughly understand the special features of this project.

《Harris's approval rating surpasses Trump's by 8%, and the cryptocurrency circle may face a new wave of regulatory pressure》

According to the latest data from Polymarket, U.S. Vice President Harris's approval rating in the 2024 presidential election has surpassed former President Trump. Her approval rating has soared from 33% in the early days to a record high of 53% at the time of writing. Alex Thorn, head of research at Galaxy Research, pointed out that Harris will continue to suppress cryptocurrencies, and her choice of advisers indicates that she will continue Biden's hostility to cryptocurrencies, as Harris is working with two key officials in the Biden administration who oppose cryptocurrencies.

《38 unicorns have been born in 2024, which companies in the crypto field are on the list? 》

TechCrunch tracked the newly established unicorns this year based on data from Crunchbase, CB Insights and PitchBook. The list includes Elon Musk's xAI, which has been valued at a staggering $24 billion, as well as many other AI startups. Companies in the fields of cybersecurity, health technology and fintech also performed well.

"Bitdeer 2024 Q2 Financial Analysis: Total Revenue of US$99.2 Million, a Year-on-Year Increase of 5.8%"

Despite the significant growth in global network computing power and the halving of Bitcoin block rewards in April 2024, Bitdeer's 2024 Q2 financial performance remained strong, with total revenue of US$99.2 million, gross profit of US$24.4 million, and adjusted EBITDA of US$24.9 million, up 5.8%, 50.6%, and 33.2% year-on-year, respectively.