Blockchain Press Releases
IDA, a Hong Kong-based Fiat-referenced Stablecoin Issuer, Raised USD6 Million Seed Round Led by CMCC Global and Hashed
HONG KONG, Sept. 2, 2024 /PRNewswire/ — IDA, a premier Hong Kong-based digital asset company, has raised USD6 million in a seed funding round led by prominent blockchain investors CMCC Global, under its Titan Fund, and Hashed. This capital injection will enable IDA to advance the development and launch of its first fiat-referenced stablecoin, HKDA, which is designed to be regulated in Hong Kong.
Additional participants in this round also include Hack VC, Anagram, GSR, Protagonist, Brinc, Chorus One, Kenetic, SNZ, and Yolo Investments as well as notable angel investors, such as Raj Gokal, Co-founder of Solana. Aside from providing funding, leading blockchain foundations of Solana, Polygon, Aptos, and Mantra are also IDA’s strategic blockchain partners to foster HKDA’s interoperability, accessibility, resilience, and liquidity.
“With the current total stablecoins market cap around USD170 billion, we expect stablecoins to grow over USD3 trillion in the next 5 years. This exponential growth will underscore the increasing significance of stablecoins in the broader digital currency landscapes. Thus, IDA’s mission is to facilitate more effective and efficient cross-border trades through the blockchain for everyone,” said Lawrence Chu, Co-founder and CEO of IDA.
Sean Lee, Co-founder and CSO of IDA added, “the first goal of IDA is to enable mass adoption and empower businesses to seamlessly integrate between Web2 and Web3. To achieve this, IDA has begun active engagements with the Hong Kong Monetary Authority (HKMA) and the Financial Services and the Treasury Bureau (FSTB), as well as domestic partners in the ecosystem, to issue regulated stablecoins in Hong Kong. HKDA, our first fiat-referenced stablecoin built on public blockchains, will shortly be heading onto testnet. We intend for our mainnet launch before the end of this year and achieve regulatory clarity in early 2025.”
CMCC Global, one of Asia’s first VC funds focused purely on blockchain and cryptocurrency, is thrilled to lead this funding round and partner with IDA to push the boundaries in Web3 space. “As a Hong Kong-based company, we are excited to support innovative Web3 companies like IDA that are leveraging blockchain finance and stablecoins to create solutions addressing real-world challenges,” said Martin Baumann, Co-founder and Managing Partner of CMCC Global.
Hashed, a global early-stage venture fund focused on backing founders who are pioneering the future of blockchain and cryptocurrency, also shares the same vision as IDA. “We anticipate wider mainstream adoption of stablecoins in real-world trades and settlements. With Hong Kong’s position as Asia’s financial hub and its recent push for a stablecoin legislative framework, we expect IDA to spearhead the coming changes. Their unique blend of expertise in traditional finance and blockchain technology positions them perfectly to bridge conventional and digital financial systems, potentially reshaping finance across Asia and beyond,” said Ryan Kim, Founding Partner at Hashed.
Starting initially in Hong Kong, IDA will leverage the forefront of fintech and Web3 to reach other countries whose currency is also pegged to the USD. Over time, IDA aims to share their innovations and grow their business to other nations along the Belt and Road and Global South initiatives. More exciting partnerships will be announced to unlock a more inclusive and connected global marketplace.
Note: The current total stablecoins market cap is based on the data provided by defillama.com at 18:00 HKT on 2024-08-26.
About IDA Finance Hong Kong Limited (IDA)
IDA is the premier digital asset technology company to spearhead the widespread adoption of blockchain finance and to empower businesses to seamlessly integrate between Web2 and Web3.
HKDA, a fiat-referenced stablecoin built on public blockchain protocols, will be the first product launched by IDA. HKDA is designed to drive enhanced digital connectivity for seamless commerce and payments between Hong Kong and global markets, 24/7/365. To maintain the highest level of security and stability, all circulating HKDA will always be fully backed by at least 100% reserve assets in regulated Hong Kong based authorized institutions.
To maximize the network effect of HKDA for domestic and cross-border usage, IDA is partnering with key industry players to facilitate the minting, redemption and widespread acceptance of HKDA as a payment and settlement digital currency. In subsequent phases, IDA will also launch key products denominated in other US Dollar (USD) pegged currencies with ecosystem partners across regulated financial institutions and Web3 platforms.
More information can be found at www.idafi.xyz / LinkedIn / X
About CMCC Global & Titan Fund
CMCC Global is one of Asia’s first venture capital companies focused solely on blockchain and Web3 investments. CMCC Global has an enviable record of investing early in leading projects such as Ethereum (ETH) at USD7, Solana (SOL) at USD0.20 and Cosmos (ATOM) at USD0.10. CMCC Global has reached assets under management (AUM) of over USD500 million across its funds and is known as a high-conviction investor. Today the company has offices in Asia, North America and Europe and operates several funds with different strategies including the CMCC Global Digital Asset Fund, the Titan Fund and its two funds of quantitative trading hedge funds Crest and SYZCrest.
More information can be found at www.cmcc.vc
Titan Fund offers accredited investors exposure to attractive growth opportunities within the blockchain ecosystem through a traditional equity venture capital investment strategy focusing on seed to series A/B along the key investment verticals of Infrastructure, Fintech and Consumer Applications. The Titan Fund is CMCC Global’s latest fund strategy and complements its Digital Asset Funds, which have been investing directly into protocols and digital assets since 2016, and its Crest family of funds that invests into crypto and quant funds.
More information can be found at www.titan.fund
About Hashed
Founded by a team of serial entrepreneurs and engineers in 2017, Hashed is the preeminent blockchain firm in Asia with a portfolio that spans the globe. We started Hashed because we saw an opportunity for blockchain to not only reinvent the global financial system, but the very fabric of the internet itself. This is one of the most consequential moments in human history — an opportunity to overlay the power of digital networks onto human ones, and to usher in a future where technology empowers individuals, and not the other way around.
More information can be found at www.hashed.com
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Blockchain Press Releases
HTX Hot Listings Week 6 May 2025: Top Gainer Up 521% as Bitcoin Breaks $100K Again
SINGAPORE, May 15, 2025 /PRNewswire/ — As Bitcoin surged back above $100,000, the crypto market saw a notable resurgence in trading activity and investor enthusiasm over the past week. On HTX, several trending tokens—spanning Solana Memecoins, Ethereum Memes, AI, and Restaking sectors—recorded sharp gains and significant trading volume from May 6 to May 12. Below are the recently standout tokens based on 7-day performance:
Solana Meme Sector
MOODENG (+521%)
Inspired by the viral pygmy hippopotamus “Moo Deng” in Thailand, this token combined community-driven buzz and the surging popularity of Solana Meme coins to become the week’s most impressive gainer, skyrocketing over fivefold.
For details, please read: What is MOODENG?
GOAT (+164%)
As the First meme coin created by truth_terminal, GOAT is inspired by a notorious internet meme and becomes a symbol of the AI’s capacity for randomness, disruption, and memetic influence. Positioned at the intersection of AI and meme culture, GOAT quickly captured market attention with over $200 million in trading volume just days after its launch.
For details, please read: What is GOAT?
PNUT (+147%)
PNUT pays tribute to Peanut the Squirrel, which was taken away by NYSDEC and euthanised. It blends political satire with meme culture, gaining further attention after Elon Musk reposted related content on X, driving strong community engagement.
For details, please read: What is PNUT?
GRIFFAIN (+78%)
Griffain is a blockchain-based AI platform designed to operate within the Solana ecosystem. The project focuses on creating a robust and scalable DeFi solution that supports seamless token swaps, liquidity provision, and ecosystem growth. It aims to empower users with efficient tools for trading and managing digital assets while maintaining transparency and decentralization as core principles.
For details, please read: What is GRIFFAIN?
Ethereum Meme Sector
NEIRO (+104%)
NEIRO is the Shiba Inu who has gained popularity on social media, similar to Kabosu (DOGE). As a retro-style Ethereum meme token, NEIRO taps into nostalgia with classic meme aesthetics and narrative playbooks. Its rapid rise last week signals renewed interest in vintage meme formats.
For details, please read: What is NEIRO?
PEPE (+80%)
PEPE leverages the cultural significance of the meme, positioning itself in the meme coin market alongside Dogecoin and Shiba Inu. It has no intrinsic utility beyond speculative trading, with its rapid rise fueled by social media, exchange listings, and the overall meme coin trend. The token’s resurgence affirms its solid community foundation and lasting appeal.
For details, please read: What is PEPE?
DEGEN (+161%)
Degen started as a meme token on the BASE chain for rewarding participants in the Farcaster Degen channel but gained quite some attention due to its performance in the secondary market.
For details, please read: What is DEGEN?
AI & Restaking Sectors
KAITO (+113%)
KAITO is the native token and the fundamental building block of the AI-powered InfoFi network. It helps shape the direction of the ecosystem by influencing how attention is allocated across the network.
For details, please read: What is KAITO?
ETHFI (+98%)
ETHFI is the token of Ether.fi, which is a non-custodial liquidity staking protocol that allows stakers to maintain control over their private keys, thereby ensuring the security and autonomy of their assets.
For details, please read: What is ETHFI?
*The above content is not an investment advice and does not constitute any offer or solicitation to offer or recommendation of any investment product.
About HTX
Founded in 2013, HTX has evolved from a virtual asset exchange into a comprehensive ecosystem of blockchain businesses that span digital asset trading, financial derivatives, research, investments, incubation, and other businesses.
As a world-leading gateway to Web3, HTX harbors global capabilities that enable it to provide users with safe and reliable services. Adhering to the growth strategy of “Global Expansion, Thriving Ecosystem, Wealth Effect, Security & Compliance,” HTX is dedicated to providing quality services and values to virtual asset enthusiasts worldwide.
To learn more about HTX, please visit HTX Square or https://www.htx.com/, and follow HTX on X, Telegram, and Discord.
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Blockchain Press Releases
Fintica AI and Mima Wallet Announce Strategic Partnership and Launch Joint Venture, Fintica Crypto Ltd
HONG KONG, May 15, 2025 /PRNewswire/ — Fintica AI Ltd, a pioneer in next-generation artificial intelligence technologies for capital markets, and Mima Wallet, a Hong Kong-based firm specializing in secure crypto wallet infrastructure with a strategic focus on Mainland China and the Greater China region, today announced a strategic partnership and the launch of their joint venture: Fintica Crypto Ltd.
This collaboration marks a pivotal milestone in both companies’ efforts to accelerate innovation across digital asset markets. Fintica Crypto Ltd will combine Fintica AI’s proprietary unsupervised AI platform with Mima Wallet’s cutting-edge security solutions to develop next-generation crypto trading products tailored to the evolving needs of the Greater China region.
The joint venture aims to serve as a launchpad for AI-driven trading and security solutions—bringing together Fintica AI’s advanced analytics and Mima Wallet’s quantum-resistant infrastructure to address growing demand for secure, intelligent, and accessible crypto investment tools.
Julien Gall, CEO of Mima Wallet, commented:
“We are excited to collaborate with Fintica AI and its world-class AI technology team. Fintica’s academic depth and R&D expertise in quantitative modeling, combined with Mima’s proven high-security infrastructure, creates a powerful foundation for delivering transformative innovation in digital asset protection and trading.”
He added: “At Mima Wallet, our mission is to maximize simplification and deliver an intuitive, user-friendly experience. With an ageing population and the next wave of crypto users expected to be 40 and above, accessibility is critical. Our AI-powered prompts will guide users through secure transactions, making crypto easy and intuitive for everyone.”
Thomas Zeeb, Chairman of Fintica AI Advisory board, stated:
“Our partnership with Mima Wallet is a strategic leap forward in realizing our vision to redefine financial markets through advanced AI. Together, we will explore the vast potential of Hong Kong and Greater China’s financial ecosystems and deliver impactful, AI-powered solutions for the crypto economy.”
About Fintica AI Ltd
Headquartered in Tel Aviv, Fintica AI delivers advanced AI-powered solutions for global capital markets. Its flagship platform, Spectrum MRI, provides predictive analytics and real-time risk management across equities, fixed income, commodities, and digital assets.
About Mima Wallet
Mima Wallet is a Hong Kong-based security infrastructure firm focused on the crypto market. Its core innovation, the “Double Face” neurometric and biometric authentication technology, is a certified quantum-resistant system that ensures privacy and universal device compatibility—enabling secure crypto access for all, regardless of device sophistication.
For more information:
Visit www.fintica-ai.com and www.mimawallet.com
Contact: [email protected] and [email protected]
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Blockchain Press Releases
HTX DeepThink: U.S. Inflation Falls, Liquidity Rises–How Long Can the Rally Last?
SINGAPORE, May 15, 2025 /PRNewswire/ — Since the start of May, macro tailwinds have gained momentum—U.S. inflation cooled, trade tensions began to ease, and the Fed has injected fresh liquidity. Bitcoin has surged back above $100,000, with ETH and SOL also posting strong gains. Yet beneath the surface of this rally, volatility risks remain. In this edition of HTX DeepThink, Chloe (@ChloeTalk1) from HTX Research unpacks the macro catalysts, institutional activity, and market structure to assess whether this rally can truly last.
Expectations for Rate Cuts Strengthened, Fed Liquidity Improves
The U.S. Consumer Price Index (CPI) data released on May 13, 2025, showed further cooling of inflation, reinforcing market expectations for Fed rate cuts later this year. Headline CPI rose 2.3% year-over-year (vs. 2.4% expected, 2.6% previous), marking the lowest level since March 2021; core CPI was 2.8% (in line with expectations, 3.0% previous). However, it is important to note that the Fed’s preferred inflation gauge, core PCE, stood at 2.3% in March, still above the 2% target.
Market support also stemmed from a phase of expanding macro liquidity. The Fed’s total assets rose slightly from $6.70 trillion on April 30 to $6.73 trillion in early May. FED Net Liquidity (balance sheet + TGA – RRP) increased from $4.89 trillion to $4.94 trillion over the same period, injecting about $50 billion of net liquidity. Meanwhile, the U.S. Treasury General Account (TGA) balance rose to $583 billion, while the Reverse Repo Facility (RRP) balance dropped to a record low of $78 billion. This improvement in liquidity was mainly driven by the Fed slowing the pace of QT (reducing Treasury redemptions to $5 billion), the post-tax season Treasury cash inflows, and money market funds reallocating capital out of the RRP.
A significant risk remains, however: should a debt ceiling agreement be reached in July or August, substantial Treasury issuance to replenish the TGA, coupled with an almost depleted RRP buffer, could lead to a tightening of system liquidity once again, potentially exerting downward pressure on risk assets.
Institutional Inflows Power Crypto Rally
Boosted by the improving macro backdrop, crypto market flows rebounded significantly. Bitcoin (BTC) futures open interest (OI) remained at elevated levels, with CME data showing about 660,000 BTC, representing 3.4% of circulating supply, highlighting strong institutional positioning. BTC OI on crypto-native exchanges also rose by 12%, with positions largely concentrated around the $100,000 level. Ethereum (ETH) and Solana (SOL) derivatives markets also saw a strong recovery, with ETH OI rising 15% since the first week of May and SOL rebounding 18% from late April lows. On-chain data showed ETH short-term holder (STH) profit addresses rising to approximately 90% and SOL to 88%, approaching historically high thresholds (>90% usually signals local top risk), raising concerns over near-term profit-taking pressures.
Data from Deribit showed that the near-term implied volatility of Bitcoin options decreased from 65% prior to the CPI release to 58%, reflecting expectations of short-term price stability and encouraging some institutions to sell options to capture premium yields. The ETH options market displayed a longer-dated bullish structure, with strong demand for $4,000–$5,000 call options expiring in December, suggesting institutional investors are positioning early for the next potential rally.
Macro Tailwinds Drive Bullish Bias, But Volatility Risks Linger
In summary, the combination of macro liquidity expansion, cooling CPI strengthening rate-cut expectations, sustained institutional allocation, and a rebound in derivatives market risk appetite has driven the strong May rally in BTC, ETH, and SOL.
However, in the short term, the high percentage of short-term holders in profit and the concentration of leveraged positions imply that any breakout or breakdown of key technical levels could trigger concentrated profit-taking and liquidation cascades, leading to heightened volatility. The overall market structure remains defined by a medium-term structural bull trend combined with a short-term consolidation phase.
*The above content is not an investment advice and does not constitute any offer or solicitation to offer or recommendation of any investment product.
About HTX DeepThink:
HTX DeepThink is a flagship market insights column created by HTX, dedicated to exploring global macro trends, key economic indicators, and major developments across the crypto industry. In a world where volatility is the norm, HTX DeepThink aims to help readers “Find Order in Chaos.”
About HTX Research
HTX Research is the dedicated research arm of HTX Group, responsible for conducting in-depth analyses, producing comprehensive reports, and delivering expert evaluations across a broad spectrum of topics, including cryptocurrency, blockchain technology, and emerging market trends.
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