Gu Ailing's joining Benchmark is a hoax; Apollo will continue to acquire MORPHO.

Headline

▌Benchmark Partner Clarifies: "Gu Ailing Joins" is Fake News, Just a Joke

Benchmark partner Bill Gurley issued a clarification on the X platform regarding "Gu Ailing joining," stating: "Sorry, I was just joking, this is fake news."

▌Asset Management Company Apollo to Purchase Up to 90 Million MORPHO Tokens in 4 Years

According to @bwenews, Apollo, an asset management company with $900 billion in assets under management, has reached an agreement to purchase up to 90 million MORPHO tokens within 4 years and will cooperate on on-chain lending business.

As of press time, according to CoinGecko data: BTC price is $66,267.10, a 24-hour change of -1.0%; ETH price is $1,944.58, a 24-hour change of +0.5%; BNB price is $613.33, a 24-hour change of +1.3%; SOL price is $78.20, a 24-hour change of -1.1%; DOGE price is $0.09312, a 24-hour change of +2.8%; XRP price is $1.36, a 24-hour change of +0.1%. The price of TRX is $0.2796, up 0.8% in the last 24 hours; the price of WLFI is $0.1072, up 4.5% in the last 24 hours; and the price of HYPE is $30.75, up 4.9% in the last 24 hours.

Policy

▌Trump advisor Epshteyn and others face class-action lawsuit from investors for promoting the Meme coin "Let's Go Brandon"

Trump advisor Epshteyn and others are facing a class-action lawsuit from investors for promoting the Meme coin "Let's Go Brandon." The lawsuit, filed in the U.S. District Court for the District of Columbia, accuses individuals of knowingly making false claims about the coin's decentralization, while in reality, the operators had control over smart contracts, governance, and transactions, including the power to freeze accounts.

Policy

▌Trump advisor Epshteyn and others face class-action lawsuit from investors for promoting the Meme coin "Let's Go Brandon."

▌US Treasury Secretary Bessent: Prospects for passing the CLARITY Act will be completely dashed if Democrats control the House after the midterm elections

US Treasury Secretary Scott Bessent stated that pushing through the CLARITY Act could help improve market sentiment amid the current persistent market downturn. In an interview with CNBC on Friday, Bessent said that the stalled progress of the CLARITY Act due to concerns from crypto industry executives has negatively impacted the industry.

Blockchain Applications

▌Tether Strategically Invests in Hyperliquid Frontend Dreamcash, Launching Perpetual Contracts for TSLA, Gold, etc.

Stablecoin giant Tether announced a strategic investment in Hyperliquid's mobile interface Dreamcash, and the two companies jointly launched the RWA perpetual contract market using USDT0 as collateral. The first batch of 10 perpetual contracts covers commodities such as the S&P 500 index, gold, and silver, as well as US stocks such as Tesla, Nvidia, Google, Amazon, and Meta. Selini Capital serves as the liquidity provider. These markets are built on Hyperliquid's HIP-3 standard, support custom collateral types, and allow third-party front-ends to autonomously deploy markets after staking 500,000 HYPE tokens. Dreamcash stated that Tether will support its $200,000 weekly incentive program, rewarding contributors to USDT trading volume. Dreamcash is a non-custodial mobile application developed by Supreme Liquid Labs, designed specifically for Hyperliquid trading.

Cryptocurrency

▌F2Pool Co-founder: There are fundamental differences in economics between space Bitcoin mining and space AI data centers

F2Pool co-founder Wang Chun (@satofishi) stated in an article on the X platform that there are fundamental differences in economics between space Bitcoin mining and space AI data centers. For space AI data centers, the potential for scalability is almost limitless.

Golden Encyclopedia

▌What are long and short positions?

Long and short positions represent opposing strategies used by investors and traders to anticipate price movements of an asset under consideration. In the cryptocurrency space, going long and short still apply to concepts from traditional financial markets. To profit from a rise in cryptocurrency prices, going long means buying it and expecting its value to increase over time. In contrast, going short in the cryptocurrency market means selling a cryptocurrency that you don't actually own in anticipation of a price drop, then buying it back at a cheaper cost to close the position and profit from the price decline.

Cryptocurrency traders and investors utilize these strategies to navigate the high volatility and speculative nature of digital assets and capitalize on opportunities in both bullish and bearish market conditions. In cryptocurrency trading, a long position begins by buying an asset in the hope that its price will rise, while a short position begins by disposing of an asset (often borrowed) in the hope that its price will fall. Closing a position means buying the asset at a lower price to gain profit, while exiting a long position means selling the asset at a higher price to lock in profits. Entry and exit points are crucial for the successful implementation of these strategies. Cryptocurrency long positions have the potential to generate substantial profits through price appreciation, but they also come with significant risks of market volatility and potential losses. Despite these risks, cryptocurrency long positions have the potential to generate significant returns. The opportunity to profit from price increases is the primary benefit. Short cryptocurrency positions can be rewarding by betting on price declines, but they also carry significant risks due to market volatility, unlimited potential losses, and unpredictable price increases. Shorting cryptocurrencies requires precise timing, meticulous risk management, and continuous market monitoring to successfully navigate inherent volatility and maximize potential gains while limiting losses.