HashKey to Start Offering Crypto Trading to Retail Clients in Hong Kong, ARK Invest & 21Shares Apply for Futures ETFs, Prime Trust Lost $8 million of Client & Treasury Funds in a TerraUSD Investment

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By BitcoinWiki News

Key Takeaways:

– Asian crypto exchange HashKey Exchange to offer crypto trading services to retail clients in Hong Kong on August 28
– Exchange will initially support trading only for bitcoin (BTC) and ether (ETH)
– Investors limited to investing up to 30% of their net worth into crypto on the platform
– Cathie Wood’s ARK Invest and 21Shares apply for futures exchange-traded fund (ETF) products involving bitcoin and ether
– ETFs will focus on cash-settled futures contracts, not direct investment in digital assets or spot products
– Crypto custodian Prime Trust loses $8 million in client and treasury funds in investment in terraUSD stablecoin
– Spain establishes the Spanish Agency for the Supervision of Artificial Intelligence (AESIA) to regulate AI development
– Twitter-linked app Friend.tech enables sending photos and attracts creators from OnlyFans platform
– Magnate Finance, a lending project on Layer 2 network Base, performs an exit scam causing $6.5 million in losses


1. HashKey Exchange to Offer Crypto Trading Services in Hong Kong: Asian crypto exchange HashKey Exchange will launch retail trading services for bitcoin and ether in Hong Kong on August 28. Users will be limited to investing up to 30% of their net worth in crypto on the platform.

2. ARK Invest and 21Shares Apply for Bitcoin and Ether Futures ETFs: Investment firms ARK Invest and 21Shares have jointly filed an application with the US SEC for two futures exchange-traded funds (ETFs) involving bitcoin and ether. These ETFs will focus on cash-settled futures contracts, rather than directly investing in digital assets.

3. Prime Trust Loses $8 Million in Crypto Investment: Crypto custodian Prime Trust reportedly lost $8 million in client funds and treasury funds through an investment in the terraUSD stablecoin. The loss was attributed to investments made under prior management.

4. Spain Establishes Agency for AI Supervision: Spain’s Council of Ministers has approved a royal decree to establish the Spanish Agency for the Supervision of Artificial Intelligence (AESIA). The agency will regulate AI development and aim for inclusivity, sustainability, and citizen-centered approach.

5. Friend.tech Introduces Photo Sending Feature: Tokenized account app Friend.tech, linked to Twitter, now supports photo sending. The update has attracted creators from the OnlyFans platform, known for subscription-based adult content.

6. Magnate Finance Exit Scams on Layer 2 Network: Lending project Magnate Finance has allegedly executed an exit scam on the Layer 2 network Base. The project manipulated the price oracle and disappeared with user funds, resulting in $6.5 million in losses.

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