• HashKey Exchange is set to offer crypto trading services to retail clients in Hong Kong.
• ARK Invest and 21Shares have applied for futures ETFs with the US Securities and Exchange Commission.
• Prime Trust lost $8 million of client & treasury funds in a TerraUSD investment.
HashKey to Offer Crypto Trading Services
Asian crypto exchange HashKey is set to start offering crypto trading services to retail clients in Hong Kong on August 28. Investors will only be allowed to invest up to 30% of their net worth into crypto when using the platform, which will begin its retail trading services just for bitcoin (BTC) and ether (ETH).
ARK Invest & 21Shares Apply for Futures ETFs
Cathie Wood’s ARK Invest and 21Shares have jointly filed an application with the US Securities and Exchange Commission (SEC) for futures exchange-traded fund (ETF) products involving bitcoin and ether. The ETFs will not directly invest in digital assets or spot products but will focus on cash-settled futures contracts traded on commodity exchanges registered with the US Commodity Futures Trading Commission (CFTC).
Prime Trust Lost Client & Treasury Funds
Crypto custodian Prime Trust lost $8 million of client funds and treasury funds in an investment in the terraUSD algorithmic stablecoin, according to a court filing by CEO Jor Law. Law said that under prior management, both customer funds and funds in the Company’s corporate treasury were invested in TerraUSD resulting in a loss of approximately $6,000,000 in client funds and $2,000,000 in treasury funds.
Spain Establishes New AI Agency
Spain’s Council of Ministers approved a Royal Decree that establishes the Spanish Agency for the Supervision of Artificial Intelligence (AESIA), which will regulate artificial intelligence (AI). The agency is part of the National Artificial Intelligence Strategy and will be formed by the Ministry of Finance and Civil Service and the Ministry of Economic Affairs and Digital Transformation.
Friendtech Tokenizes Twitter Accounts
Twitter-linked app Friend.tech has launched its tokenization solution which allows users to turn their accounts into “keys” called FTFX tokens via a smart contract process on Ethereum’s blockchain network. This allows users to monetize their accounts while also enabling them access new features such as “private memberships” based on followings created from their account data.