Alibaba's Hong Kong-listed shares fell more than 10% after the company announced plans to place HK$80 billion worth of new shares in Hong Kong.

Avalon Labs today announced the addition of a market-neutral yield pool to its Super Earn wealth management product, focused on stock perpetual contract strategies. The yield pool generates returns by capturing funding rates and pricing discrepancies from major exchanges including Hyperliquid, Binance, and Bybit, targeting an annualized return of around 15% while minimizing directional market exposure, with performance varying according to market conditions. Backed by YZi Labs and Framework Ventures, Avalon Labs is a Bitcoin-focused on-chain finance platform, and the launch of this strategy further enhances its Super Earn product suite.

Against the backdrop of Trump's mentions and favorable crypto policies, HYPE has hit successive new highs, while tokens in the Hyperliquid ecosystem have also seen a broad rally. According to GMGN market data, Hyperliquid ecosystem meme coin PURR currently has a market cap of $87.93 million, up over 57% in 24 hours; KNTQ, the token of Hyperliquid ecosystem restaking protocol Kinetiq, carries a market cap of $55.05 million, up 19% in 24 hours. Additionally, meme coin speculation on Hyper EVM is gaining momentum: EGG surged to a $9 million market cap yesterday before pulling back, now standing at $4.93 million with a 24-hour gain of 187%; Chomolon Joff (JOFF) has a market cap of $11.41 million, up 233.4% in 24 hours. BlockBeats reminds users that prices of related tokens are highly volatile, so investors should exercise caution.

Following the August 19 crypto market rally, Upbit has significantly accelerated its token listing pace. According to statistics, since the 21st, Upbit has listed eight projects consecutively, including the KRW trading pairs of established DeFi protocol CRV and perpetual DEX LIT. For new tokens, Upbit also promptly launched privacy infrastructure project Interfold (FOLD); its token has performed exceptionally well since listing, surging over 300% in four days. However, despite frequent listings of high-quality tokens, Upbit’s trading activity has not seen a notable uptick. As of press time, its 24-hour trading volume reached $1.087 billion, a 59.1% decrease from the previous day.

According to an official announcement, Binance Alpha will launch TermMax (TMX) first on August 25. Eligible users can claim the airdrop using Alpha Points on the Alpha Events page once trading opens. Public information shows that TermMax is a DeFi fixed-rate lending and revolving strategy protocol.

Former Hack VC partner and platform head Hsin-Ju tweeted that she has rejected Hack VC’s settlement offer and will release evidence related to her tenure at the firm on August 26. Hsin-Ju previously alleged that during her time at Hack VC, she was ordered to continue working despite a medical emergency, and the firm threatened to blacklist her from the industry if she resigned early before completing an event. Following the incident, she accused the firm of mishandling her health insurance after her departure and continuing to pressure her during legal proceedings. She has since fired her attorney and stated she would rather forgo the settlement sum than keep the matter private. In response, Hack VC tweeted that it has taken note of Hsin-Ju’s posts and expressed deep concern for her well-being. The firm also noted that its understanding of the incident differs significantly from Hsin-Ju’s claims, but it does not wish to discuss details publicly out of respect for privacy.

According to an official announcement, Upbit will list the LIT/KRW trading pair, with trading expected to open at 13:00 local time on August 24.