• HashKey Exchange is set to offer crypto trading services to retail clients in Hong Kong.
• ARK Invest and 21Shares applied for futures ETFs involving bitcoin and ether.
• Prime Trust lost $8 million of client and treasury funds in a TerraUSD investment.
HashKey Exchange to Offer Crypto Trading Services
Asian crypto exchange HashKey Exchange is set to start offering crypto trading services to retail clients in Hong Kong on August 28. Investors will be allowed to invest up to 30% of their net worth into crypto when using the platform, however only Bitcoin (BTC) and Ether (ETH) will be available at launch.
ARK Invest & 21Shares Apply for Futures ETFs
Cathie Wood’s ARK Invest and 21Shares jointly applied for futures exchange-traded fund (ETF) products involving Bitcoin and Ether with the US Securities and Exchange Commission (SEC). The two ETFs proposed are the ARK 21Shares Active Ethereum Futures ETF (ARKZ) and the ARK 21Shares Active Bitcoin Ethereum Strategy ETF (ARKY), which will not directly invest in digital assets or spot products but instead focus on cash-settled futures contracts traded on commodity exchanges registered with the US Commodity Futures Trading Commission (CFTC).
Prime Trust Lost Funds in TerraUSD Investment
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. The loss was attributed to an investment made by prior management using both customer funds as well as funds from the company’s corporate treasury.
Spain Establishes Spanish Agency for Supervision of Artificial Intelligence
The Spanish Council of Ministers approved a Royal Decree that establishes the Spanish Agency for the Supervision of Artificial Intelligence (AESIA). This agency will ensure that AI development is conducted “inclusively, sustainably, and citizen-centered” as part of Spain’s National Artificial Intelligence Strategy. It will be formed by the Ministry of Finance and Civil Service and the Ministry of Economic Affairs and Digital Transformation.
Friend Tech Tokenizes Twitter Accounts Into “Keys”
Twitter-linked app Friend.tech tokenizes accounts into “keys” that are backed with cryptocurrency tokens such as Bitcoin Cash (BCH), allowing users to earn rewards when they engage with content on social media platforms like Twitter or Reddit .