CZ: Cryptocurrency Trading Should Avoid Selling Low
On August 29th, the founder of Binance, CZ, shared a post which said, "In cryptocurrency, things to avoid are selling at the bottom."
When this post was made, the cryptocurrency market continued to decline. Bitcoin dropped to $109,000, Ethereum fell to $4,320, and a total of $179 million in liquidations occurred across the entire network in the past 4 hours. This included $133 million in long liquidations and $45.899 million in short liquidations.
At the BITCOIN ASIA 2025 conference, CZ stated that "Bitcoin will become the global reserve currency."
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In the past 4 hours, there has been a total of $179 million in liquidations across the network, with the majority coming from long positions.
On August 29th, according to Coinglass data, within the past 4 hours, a combined total of $179 million has been liquidated across the entire network. Specifically, there were $133 million in long liquidations and $458.989 million in short liquidations.
During the past 24 hours, a total of 143,438 people worldwide have been liquidated, with a total liquidation amount of $546 million. The largest single liquidation took place on OKX - BTC-USDT-SWAP, amounting to $4.3838 million.
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Tom Lee Reiterates Ethereum as One of the Biggest Macro Trades of the Next Decade, Bitcoin Still the Ultimate Store of Value
On August 29th, Tom Lee, the chairman of BitMine, reiterated that Ethereum is one of the largest macro trades of the next decade. This is based on the following considerations:
- Wall Street is rebuilding on the blockchain (a key moment similar to 1971).
- Stablecoins serve as the starting point for asset tokenization on the blockchain.
- Proxy AI has generated demand for the token economy.
This will bring about profound changes to the U.S. financial industry and provide significant tailwinds for Ethereum. Meanwhile, Bitcoin still remains the optimal store of value.
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Binance Earn, One-Click Buy, Instant Swap, and Leveraged Trading will be launched for Mitosis (MITO)
On August 29th, Binance Savings, the one-click purchase of crypto, swapping, and leveraged tokens will list Mitosis (MITO). The MITO Capital Protection Yield product will be launched on the Binance Capital Protection Yield platform for purchase starting at 23:30 on August 29, 2025.
Binance Cross Margin and Isolated Margin will add MITO as a borrowable asset at 23:30 on August 29, 2025, along with MITO/USDT and MITO/USDC Cross Margin and Isolated Margin trading pairs.
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Cryptocurrency Exchange OrangeX Completes $20M Series B Funding Round, Led by Kryptos
On August 29th, the cryptocurrency exchange platform OrangeX announced the successful conclusion of a $20 million Series B fundraising round. This round of fundraising was spearheaded by Kryptos, with continuous backing from SCI Ventures and other major investors.
Previously, OrangeX completed a $10 million Series A fundraising round in September 2023. This was also led by Kryptos and received support from NGC Capital, Phase Capital, and SCI Ventures.
The new funds will be employed to enhance the core infrastructure and expedite global market expansion. The Series B fundraising was completed in the first half of 2025, which reflects investors' robust confidence in OrangeX's strategic direction and long-term vision.
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Publicly listed company PDN has partnered with financial enterprise OOKC Group to advance the implementation of the "Compliance-Driven Web3.0 Digital Investment Bank Platform."
August 29th. August 29th. The Nasdaq-listed company Professional Diversity Network (PDN, stock code: IPDN) declared that it has reached a non-binding Memorandum of Understanding (MOU) with OOKC Group, a fintech enterprise based in Dubai. The two parties will jointly promote the world's first "Compliance-Driven Web3.0 Digital Investment Banking Platform." This platform mainly focuses on fields such as "Real-World Asset Tokenization (RWA), Web3 Project Financing, Decentralized Capital Formation, and Cross-Border Regulatory Innovation," aiming to achieve compliant, secure, and transparent global digital asset financing and circulation.
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