Cognition secures over $2 billion in additional financing, boosting its valuation to $48 billion.

CoinGecko, in the RWA report *Tokenized Stocks: Insights from SpaceX, Pre-IPO Price Discovery, and the Perpetual Contract Boom* co-produced with Chinese crypto media BlockBeats, noted that the synthetic pre-IPO market has emerged as an effective valuation indicator for traditional IPOs. On-chain perpetual contracts can deliver continuous price discovery and market sentiment anchors for high-profile private companies ahead of their official exchange listings. The report cites SpaceX and ChangXin Memory Technologies (CXMT) as examples: Ahead of SpaceX’s listing, perpetual contract prices across platforms fluctuated between $158 and $170 before gradually converging to around $157.40. When its first trade on Nasdaq hit $150.05, the gap stood at roughly 4.9%. The deviation between CXMT’s pre-IPO perpetual contract prices and its actual opening price was also approximately 4.6%. CoinGecko argues that even without real spot stocks to serve as immediate arbitrage anchors, traders will still form relatively concentrated quotes based on valuation, listing hype, and future liquidity. As such, on-chain pre-IPO perpetual contracts will become a key reference price before traditional order books open, while offering global investors a 24-hour channel to express bullish and bearish expectations.

According to Bloomberg, fintech startup Ramp is in early-stage negotiations with investors for a new funding round, with an expected valuation of roughly $60 billion. If the deal is finalized, Ramp’s valuation would rise approximately 36% from its previous $44 billion in just three months. Sources familiar with the matter revealed that Ramp plans to raise around $1 billion in new capital for this round; the negotiations are still ongoing and specific terms may change. Ramp declined to comment. Founded in 2019, the company mainly provides enterprises with services including expense management, payment processing, and AI fraud detection. In June this year, Ramp completed a $750 million funding round, bringing its total cumulative financing to approximately $3 billion to date.

According to EmberCN’s monitoring, a crypto whale that cleared its entire position of 50,600 ETH at an average price of $2,921 at the end of last year, locking in around $19.02 million in profits, has resumed buying BTC after an approximately 8-month hiatus. Over the past day, the whale has swapped $14.2 million in USDC for 179.8 BTC via THORChain, at an average purchase price of roughly $78,955. The whale is still actively buying, holding approximately $74.32 million in USDC.

According to GMGN data, VVV has hit a new all-time high of $26.12, and is currently trading at $24.77, with a market cap of $2.84 billion, a 31.2% 24-hour increase, and a 24-hour trading volume of $44.7 million. In related news, Venice’s official social media account announced that it has executed its latest discretionary VVV token burn, totaling around $391,000 worth of VVV, marking the largest such burn in its history.

According to BscScan data, since the launch of BNC4, the tokenized stock of US-listed stock BNC on the BSC chain roughly 22 to 23 hours ago, the total on-chain supply of BNC4 has reached approximately 984,523 units. Its current market capitalization stands at $5.83 million, with around 48,000 holding addresses and a 24-hour trading volume of $229 million. Per market data from BIT (bit.com), US-listed stock BNC closed up 50.43% yesterday, trading at $5.25. The price of on-chain BNC4 ($5.91) carries a 12.57% premium over its underlying US stock BNC.

According to official announcements, Velodrome has announced that to support the launch of Aero, the Velodrome and Aerodrome communities will merge. The Velodrome Discord channels will be reduced to only necessary ones, and all community activities will be moved to the existing Aero Discord server. Trading of the VELO token is scheduled to be suspended on Binance this week, while Aero’s public audit contest is expected to conclude on September 21.