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Crypto

Chinese AI chip stocks trade first on crypto exchanges as overseas funds seek access

Overseas investors are effectively investing early in Chinese AI semiconductor companies through perpetual futures on cryptocurrency exchanges, an analysis said. With direct access to mainland Chinese equities limited, investors are betting on pre-listing prices via crypto derivatives. Trading has surged ahead of ChangXin Memory Technologies\' planned STAR Market listing. The products allow round-the-clock trading without owning shares and are seen as a way to bypass China’s foreign investment restrictions and perform price discovery before IPO pricing.

Crypto

Forget bitcoin for now: Why ethereum is in focus this summer

Ethereum is being seen as entering a rebound phase after breaking a long period of weakness against bitcoin. Market attention is shifting as technical reversal signals emerge alongside renewed inflows into spot ethereum ETFs and growing dominance in tokenisation of real-world assets. Analysts point to ETH/BTC and ETH/USD chart breakouts and key support levels. Data also show a large tokenised traditional-capital base on Ethereum and weekly net inflows into ETFs.

Crypto

Wemix Dollar contract admin rights stolen, 5.23 million tokens abnormally minted

Administrator rights to the Wemix Dollar (WEMIX$) stablecoin contract in the WEMIX ecosystem were stolen, leading to the abnormal minting of about 5.23 million tokens. The Wemix team halted Wemix 3.0 internal and external bridges, related liquidity pool trading, and some services. Minted WEMIX$ was swapped into WEMIX and USDC.e and moved via bridges to Ethereum and BSC, with some assets reaching centralized exchanges.