Tidal Financial Group Applies to SEC to Launch Two Bitcoin and Gold Hedge ETFs

According to TradingBeats monitoring, a ZEC whale previously sold 139,600 ZEC for a total of approximately $111 million. At today’s prices, this batch of ZEC is now worth around $223 million, meaning the whale missed out on over $110 million in potential gains in just four weeks. Earlier between August 26 and 27, a wallet cluster possibly linked to Sakolkorn Sakavee, co-founder and former chairman of Bitkub, continuously unshielded ZEC and transferred them to Hyperliquid. On August 26, the cluster unshielded 34,100 ZEC (valued at ~$26.1 million), then sold 24,100 ZEC and bought 238 BTC. As of August 27, the cluster had cumulatively unshielded 65,820 ZEC (~$51.6 million), accounting for ~0.4% of ZEC’s circulating supply and 1.37% of currently shielded ZEC. It had sold 53,900 ZEC (~$42.3 million) and purchased 536.7 BTC, with 8,370 ZEC remaining on order to sell on Hyperliquid. Today, the 139,600 ZEC previously sold by the related wallets has risen sharply in value since the sale, leading to missed potential gains of over $110 million.

According to market data from BIT (bit.com), U.S. pre-market crypto-related stocks are generally rising, with gains as follows: MSTR up 1.88%, CRCL up 1.01%, COIN up 1.07%, BMNR up 2.32%, SBET up 1.11%, HOOD up 1.80%, and PURR up 1.28%.

Fortune cited a new survey from recruitment platform Monster, stating that 65% of potential job changers in the U.S. are adjusting their job search priorities to cut commuting costs amid rising U.S. oil prices. Among them, 23% are prioritizing jobs closer to their homes, 17% are focusing more on salaries to offset higher commuting expenses, and another 20% are prioritizing fully remote positions. The survey shows commuting costs have become a key factor leading U.S. job seekers to turn down job offers. Among over 1,000 employed Americans surveyed, 49% said they have rejected job opportunities due to high commuting costs or excessively long commute times, while 75% noted that work-life balance has grown more important amid rising cost of living. For an additional 20-minute commute, 32% of respondents said they would need at least a 20% pay raise to accept it, 10% would require a 10% raise, 11% would accept a longer commute via more flexible work arrangements or hybrid work, and another 9% want employers to reimburse part of their fuel costs. Meanwhile, U.S. gasoline prices continue to climb. The current average price for regular gasoline in the U.S. is nearly $4.50 per gallon, mid-grade gasoline exceeds $5, and diesel prices top $6.50; Brent crude oil has risen to around $105 per barrel. The oil price hike is mainly driven by supply disruptions in the Middle East and shipping risks in the Strait of Hormuz. Fortune pointed out that as energy costs keep rising, U.S. companies may need to offer higher salaries, provide hybrid work options, or cover commuting costs to attract employees to accept longer commutes.

Bitfinex released a chart analysis noting that when the yield on the 10-year U.S. Treasury note reaches 5%, Bitcoin’s price behavior aligns more closely with gold than with traditional risk assets. Currently, the correlation between BTC and gold has climbed to 0.52, while the correlation between BTC and daily changes in U.S. Treasury yields has turned negative.

Ethena is expanding the basis trading strategy underpinning its USDe stablecoin, adding Binance’s bStocks tokenized U.S. equities as spot collateral assets and using Binance’s stock perpetual contracts to hedge related exposures. Ethena’s Risk Committee has previously approved the inclusion of tokenized stock basis trading in USDe’s allocation strategy. Previously, Ethena built USDe’s delta-neutral yield strategy primarily by holding crypto asset spot positions and using derivatives for hedging. Data shows that USDe’s current circulating supply stands at around $4.9 billion. Ethena noted that Binance’s stock perpetual contracts currently have an open interest of over $2.9 billion, with a monthly compound growth rate of 105% year-to-date, and an average annualized stock basis yield of 3.56% over the past six months. Ethena founder Guy Young stated that this is the most significant expansion to USDe’s funding mechanism since its launch. Ethena anticipates that as more traditional financial assets are tokenized on-chain, the stock perpetual contract market will likely see opportunities that far exceed those of the crypto perpetual contract market in the future.

According to HTX market data, Bitcoin has rebounded to surpass $85,000, with a 1.76% increase over the past 24 hours.