Hodlnaut to proceed to liquidation

Japanese Crypto Exchange Zaif Adds KLAY/JPY and KLAY/BTC Trading PairsJapanese cryptocurrency exchange Zaif added the KLAY token to its list of supported cryptocurrencies on August 16. Following in the footsteps of BITPoint Japan, which introduced KLAY trading in August 2022, Zaif has become the second trading platform in Japan to facilitate the trading of the KLAY token.Zaif’s inclusion of KLAY presents traders with the opportunity to engage with the token using the Japanese yen and Bitcoin (BTC). With this addition, the total number of tokens hosted on Zaif’s platform has now reached 21, bolstering its diverse selection.Photo by Nicholas Cappello on UnsplashKLAY’s path to Green ListKLAY presently requires an additional listing on a Japanese cryptocurrency trading platform to fulfill the requirements for being included in the “Green List” of the Japan Virtual and Crypto Assets Exchange Association (JVCEA). Cryptocurrencies that have achieved green-listed status are exempt from undergoing individualized approval procedures across various exchanges. As stipulated by the JVCEA’s criteria for the Green List, a virtual asset must be featured on a minimum of three member exchanges and exhibit a trading track record of no less than six months on one of these select platforms.As of August 8, the number of green-listed virtual assets is 25, including prominent cryptocurrencies such as BTC, Ether (ETH), and Bitcoin Cash (BCH).Zaif’s upcoming listing of MBXAlong with this development, Zaif is reportedly engaged in discussions with MARBLEX, a blockchain subsidiary belonging to South Korean gaming giant Netmarble. The aim of these talks is to list MBX, the native token of MARBLEX, on the Japanese exchange in October.KLAY is the native token of the Klaytn blockchain, which was created by GroundX, a blockchain-focused arm of Kakao. Kakao is a South Korean tech giant recognized for its widely used messaging app, KakaoTalk. The company has also been expanding its presence in Japan through its subsidiary, Kakao Piccoma, which operates an online comics platform called Piccoma.

Bitcoin’s long-standing four-year market cycle tied to halving events may be losing influence, according to a new outlook from crypto exchange Bybit and research firm Block Scholes that examines market conditions through 2026. The report suggests that Bitcoin price action may be increasingly influenced by macroeconomic policy, institutional participation, and market structure rather than by new supply reductions. It says historical cycles have tended to track changes in global liquidity, often measured by global M2, and that this relationship has become more visible, while Bitcoin continues to respond to shifts in expectations for Federal Reserve rate cuts.Photo by Pawel Czerwinski on UnsplashETFs reshaping demand dynamicsThe analysis points to structural changes in demand, citing the launch of spot Bitcoin ETFs and the growth of corporate digital asset treasuries (DATs). The report says ETF flows and corporate balance-sheet allocations are playing a larger role in price formation than retail trading. That shift is disrupting the traditional capital rotation from Bitcoin into Ethereum and then into smaller altcoins and memecoins. As a result, the report suggests broad altcoin rallies may be harder to ignite, with gains depending on whether assets can be incorporated into institutional products such as ETFs. On the macro front, the report says markets are pricing in further Federal Reserve easing, with looser financial conditions potentially supporting a closer relationship between Bitcoin and major stock indexes despite recent underperformance versus U.S. equities. Based on options pricing, the report estimates a 10.3% implied probability that Bitcoin reaches $150,000 by the end of 2026. At present, Bitcoin is trading slightly above $91,000. Index criteria and Japan policy in viewThe analysis also highlights policy risks, including potential volatility tied to concerns over the possible exclusion of Strategy from major stock indexes, which could affect companies holding digital assets on their balance sheets. That risk has since eased after MSCI paused a proposal that would have excluded firms with digital asset reserves, though Benchmark analyst Mark Palmer cautioned that the issue could resurface in future rule reviews. The Bybit-Block Scholes report also cites potential policy tightening by the Bank of Japan later this year as another source of cross-asset risk, following its December rate hike of 25 basis points to a 30-year high of 0.75%. RWA and stablecoinsOne area of focus in the report for 2026 is real-world asset (RWA) tokenization, which it describes as building on the stablecoin adoption that gathered pace last year. That view is echoed in a separate outlook from Moody’s, cited by Cointelegraph, which says fiat-backed stablecoins and tokenized bank deposits are functioning as “digital cash” for settlement, liquidity management, and collateral movement. Moody’s estimates stablecoins processed about $9 trillion in on-chain settlement volume in 2025 and projects banks, asset managers, and infrastructure providers could invest more than $300 billion in digital finance by 2030. As an example, Moody’s cited JPMorgan’s U.S. dollar–denominated deposit token, JPM Coin, as a way digital-cash layers can operate on top of existing banking systems. The bank’s Kinexys unit plans to work with Digital Asset to bring JPM Coin to Digital Asset’s Canton Network in a phased rollout during 2026. This follows JPMorgan’s expansion of the project onto Coinbase’s Ethereum layer-2 network Base for institutional clients. 

Crypto Exchange HTX Reports $8 Million Hack Over WeekendCrypto exchange HTX confirmed on Monday that it fell victim to a hack over the weekend, resulting in losses amounting to 5,000 ETH ($8 million).HTX stakeholder Justin Sun, Founder of layer one blockchain TRON, disclosed the breach via an X post. In a series of subsequent X posts, Sun assured users and stakeholders that the exchange had promptly covered the losses, and current user deposits remained secure. He also emphasized that the platform was operating normally despite the security incident.Photo by GuerrillaBuzz on UnsplashHacker incentiveThe TRON Founder also extended an offer to the hacker responsible for the breach. He proposed a 5% reward for the return of the remaining funds, a figure notably lower than the 10% often offered to hackers in similar situations. Additionally, Sun dangled the possibility of a job at the exchange. That’s an unusual response to a cryptocurrency hack and one that had one commentator speculating upon the notion that the hacker belonged to the notorious North Korean Lazarus hacking group, pondering the prudence of such a move.Data from DeFi data aggregator DeFiLlama revealed that Seychelles-based HTX, formerly known as Huobi, witnessed nearly $10 million in outflows, with a remaining $2.73 million in customer deposits as of the latest data.Hacker’s identity may be knownThe hacker, who received a series of messages from an address identified as an HTX hot wallet by Nansen, was presented with a stark choice. The messages, written in both English and simplified Chinese, claimed to have uncovered the hacker’s true identity and urged the return of the stolen funds to the address 0x18709E89BD403F470088aBDAcEbE86CC60dda12e. In return, HTX offered a 5% “white hat bonus” valid until October 2, 2023. If the funds were not returned by that date, law enforcement would be involved, the message warned.The hack came shortly after Justin Sun shared a promotional video in which he depicted himself defeating a hooded figure symbolizing a hacker “shorting crypto” with a single punch while on a spaceship journey to what appeared to be Mars.Insolvency fearsOn Tuesday, Sun outlined that the exchange had established a “SAFU” (Safe Asset Fund for Users) fund for platform users. However, taking to X on Monday, Adam Cochran, Managing Partner at Cinneamhain Ventures, claimed that there was a likelihood that the HTX business is insolvent. Cochran maintains that available data suggests a shortfall in crypto holdings relative to HTX users' assets.Travis Kling, Founder and Chief Information Officer of Ikigai Asset Management, went one further on X, stating:”Not “probably”. Huobi is insolvent.”Kling, a long-time critic of Binance, went on to suggest that if Huobi were to collapse, that event would likely lead to Binance unraveling also.HTX originated in China and nowadays maintains offices in Singapore, Japan, South Korea, Hong Kong, and the UK. It has long been speculated that Justin Sun has a controlling stake in the HTX business. Sun has denied that assertion, instead suggesting that he is a member of HTX’s “Global Advisory Board.”