Good morning, Asia. This is what news is doing in the markets:
Welcome to Asia Morning Briefing, a daily summary of the main stories during the US hours and an overview of the movements and market analysis. To obtain a detailed description of the US markets, see Cryptokook from Coindesk America.
Treasury of digital assets (Dats) The companies, companies that put Bitcoin in the balance sheet, were the city’s conversation during BTC Asia in Hong Kong.
But Bitcoin’s corporate adoption can be a double -edged sword, says Alessio Quaglini, CEO and co -founder of Crypto custody hex trust. While Treasury participations put crypto to the balance sheets of public companies, warn that the strategies used could turn adoption into a source of instability.
“It is excellent for adoption. It’s great because you basically have indirect access to Bitcoin to billions of people who invest in exchanges of local values and Nasdaq,” Quaglini told Coindesk during a recent interview on the sidelines of BTC Asia in Hong Kong.
But he drew an acute line between healthy diversification and financial engineering.
“If this listing company exists with the sole purpose of having cryptography, well, then, it is a coverage fund that is publicly marketed. It is a type of financial engineering exercise,” he continued.
Quaglini, like many others in the industry, is concerned about excessive levels of leverage. A recent Galaxy report illustrates the risk, which shows the volumes of loans at its highest point since 2022 along with a $ 1 billion liquidation wave, while Korean regulators have already intervened to freeze new loan products as they care about leverage voltage markets.
“If these companies implement leverage and issue debts to buy Bitcoin with strong triggers, then it is a big problem,” said Quaglini. In public markets, debt agreements are transparent, which means that merchants can anticipate forced sale. “It can be in the situation of the prisoner dilemma … it can have this type of spiral effect that provides more volatility to the industry.”
Even so, Quaglini sees today’s treasure players as a first step.
“The next step is that it has real companies that have a lot of operating cash flow, and are sitting in large amounts of cash, such as Apple, Google, etc.,” he said. If these companies begin to assign BTC reservations, the change would be “extremely positive.”
In the end, the real test of DATS’s viability is not whether small businesses become Bitcoin representatives, but if the largest companies in the world are willing to place their cash lots in the chain.
Market movement
BTC: Bitcoin is in the green that changes his hands above $ 109k. The world’s largest digital asset is stabilized after August saw a rare rotation of BTC Spot ETCs in ETH funds, which has weighed the relative demand of BTC in recent weeks. The broader macro is still supported, but the price action is still consolidated below the maximums of mid -August
ETH: Ether is quoted at $ 4,298. Market participants are decreasing in obtaining profits after record levels at the end of last month and playing resistance near the high $ 4,000. The August ETF flow trend favored the ETH, but short -term consolidation dominates after the race
Gold: The gold remains about a maximum of four months in assembly bets for a feeding feed cut in September and a softer American dollar, which generally admit bulls
Nikkei 225: The markets of Asia and the Pacific increased mostly as investors weighs the uncertainty of the tariff and the summit of the Shanghai cooperation organization, with Nikkei 225 of Japan 0.31% after an American court ruled most of the illegal Trump world tariffs.
In another part of Crypto:
- Gavin Newsom wants to launch a meme coin just for Troll Trump (Decrypt)
- South Korea’s FSC nominated chief faces a violent reaction after calling Crypto Valueless (the block)
- The family participation of Trump of World Liberty Crypto grows to $ 6 billion (Decrypt)
