Master HELI Trading Psychology: Beat Emotions

Highlights of this episode According to incomplete statistics from PANews, there were 18 investment and financing events in the global blockchain sector last week (December 1-7), with a total funding scale exceeding US$344 million. An overview is as follows: In the DeFi sector, seven investment and financing events were announced, including decentralized exchange Ostium completing a $20 million Series A funding round led by Jump Trading and others. Two investment and financing events were announced in the Web3+AI sector, with the decentralized AI network DeepNode raising a total of $5 million in two rounds of financing. The infrastructure & tools sector announced three investment and financing events, including Antithesis, a testing tool used on the Ethereum network, which completed a $105 million Series A funding round led by Jane Street. Three investment and financing events were announced in the centralized finance sector, including stablecoin application Fin completing a $17 million financing round led by Pantera Capital; In the area of other Web3 applications, three investment and financing events were announced, including prediction market Opinion, which revealed that it has completed a new round of financing of tens of millions of US dollars. In addition, two publicly traded companies have completed financing rounds for their crypto treasury strategies: Lion Group signed a $10 million private placement agreement, allocating $8 million to purchase BTC. DeFi Decentralized exchange Ostium completes $20 million Series A funding round, led by Jump Trading and others. Ostium, a decentralized exchange founded by Harvard graduates, has raised $20 million in Series A funding, valuing the company at approximately $250 million post-money. The round was led by General Catalyst and Jump Trading, with participation from Coinbase Ventures, Wintermute, and GSR. Ostium had previously raised approximately $8 million in total. The platform focuses on perpetual contract trading for real-world assets such as commodities and stocks, aiming to provide overseas investors outside the US with transparent and efficient exposure to the US market. The co-founder and CEO stated that their goal is not to directly compete with crypto-native perpetual contract protocols like Hyperliquid, but rather to challenge traditional online brokers like Robinhood and eToro. The Ostium team currently has 15 employees, and this funding will be used to expand into the non-crypto user market. Their product logic targets the pain points of system opacity and technological lag faced by overseas investors accessing the US market through traditional brokers. DeFi protocol Zoo Finance has completed an $8 million strategic funding round, aiming to unlock liquidity from locked tokens. Zoo Finance, a DeFi protocol focused on unlocking liquidity from locked tokens, announced the completion of an $8 million strategic funding round. Zoo Finance's core product is its pioneering LVT (Liquidity Locked Token) & LNT (Liquidity Node Token) protocol. This protocol transforms locked vested tokens into tradable digital assets by splitting them into VT (Valuable Valuable Token) and YT (Yield Token). This innovation enables on-chain over-the-counter trading of SAFT tokens and node holders, creating new opportunities for future yield trading of tokens. This strategic funding round was led by Bitrise Capital, with participation from Signum Capital, Certik Ventures, TOP, CGV Funds, and Cryptomeria. This brings Zoo Finance's total funding to $10 million. Previous investors include CMS Holdings, Big Brain Holdings, DefinitionX, Pragma Ventures, HG Ventures, YBB Capital, 0xVentures, and Aquarius Financials. On-chain revenue protocol Axis raises $5 million, led by Galaxy Ventures. On-chain revenue protocol Axis has completed a $5 million private funding round, led by Galaxy Ventures, with participation from OKX Ventures, FalconX, GSR, Maven 11, CMS Holdings, and Marc Zeller, founder of the Aave Chan Initiative. The round was oversubscribed four times. The project aims to bring market-neutral strategies on-chain, and its closed beta phase has already deployed $100 million in capital, achieving a strategy Sharpe ratio of 4.9. Axis offers uncorrelated returns across different assets such as the US dollar, Bitcoin, and gold through a multi-asset yield hub. Its first US dollar-pegged asset, USDx, generates returns using an arbitrage engine, with plans to expand to Bitcoin and gold assets later. The protocol will be deployed on Plasma, a dedicated stablecoin chain supported by Bitfinex, to reduce operating costs and will integrate infrastructure such as Chainlink proof-of-reserve and Veda custody. The team stated that it plans to launch its first Origin Vault this year, aiming to raise up to $1 billion in deposits before a public token sale and full protocol launch in early 2026. On-chain yield platform Altura completes $4 million funding round On-chain yield platform Altura has raised $4 million in funding, led by Ascension, with participation from European private equity firms Moonfare and InnoFinCon. The platform aims to provide transparent, risk-controlled, and stable on-chain returns for both individual users and institutions through professional quantitative strategies. Altura employs a single-chain vault structure and generates returns through market-neutral strategies such as capturing cross-exchange price spreads, obtaining funding rates for hedging positions, and allocating interest-bearing assets, targeting an annualized return of 20%-30% in normal market conditions. LayerBank, an on-chain money market platform, has completed a $2.3 million Pre-Seed funding round. LayerBank has announced the completion of a $2.3 million Pre-Seed funding round. Investors in this round include Torab Torabi, CEO of Move Industries, Coin Bureau Chinese, DVchain, Taiko, Rootstock, and several angel investors and ecosystem contributors. The new funds will be used to advance the development and launch of its native token, ULAB, which is designed to form the basis of the platform's long-term value capture and incentive model. LayerBank plans to hold its Token Generation Event (TGE) on the Movement Network. LayerBank is a universal liquidity and on-chain money market, currently supporting over 150 markets across more than 17 chains, aiming to provide lending and yield strategies through a unified chain abstraction experience. Haiku raises $1 million in pre-seed funding to simplify DeFi execution processes. Decentralized trading infrastructure project Haiku has completed a $1 million Pre-Seed funding round led by Big Brain Holdings, with participation from Auros, Frostlight, Daedalus Syndicate, and Biconomy CEO Ahmed Al-Balaghi. Haiku proposes a "declarative trading" model that allows users to define target states and have the system automatically execute complex strategies. It supports 20 chains and 45+ protocols, aiming to drive DeFi from cumbersome operations to one-click execution. RWA platform OpenEden completes strategic financing round, with Ripple, FalconX, and others participating in the investment. OpenEden, a tokenization platform for RWA (Real-World Assets), announced the completion of a strategic financing round, with investors including Ripple, Lightspeed Faction, and Gate Ventures. This round of funding will be used to expand its RWA tokenization service platform and to advance the scaling of its regulated yield-generating stablecoin USDO and its tokenized US Treasury bond fund TBILL. OpenEden founder and CEO Jeremy Ng stated that this financing will help them provide compliant products that meet both traditional and decentralized finance standards. The RWA tokenization market is projected to double in size by 2025, and OpenEden's TBILL fund has become a top choice for institutional investors, with its assets under management growing more than tenfold in two years. This round of funding will also support US... AI DeepNode, a decentralized AI network, has raised a total of $5 million in two funding rounds. Decentralized AI network DeepNode has raised a total of $5 million in two funding rounds: a $2 million seed round valuing the company at $25 million, followed by a $3 million strategic round valuing it at $75 million. DeepNode's seed round saw participation from community members and support from key network validators, including WildSageLabs from RoundTable21, Rizzo from DNA, and infrastructure partner Gateway.FM. The strategic round was led by a consortium of Web3 and AI infrastructure investors, including Blockchain Founders Fund, Side Door Ventures, TBV, IOBC Capital, Fomo Ventures, and Nestoris. TrueNorth, a dedicated AI platform for the financial sector, has raised $3 million in Pre-Seed funding, led by CyberFund. TrueNorth, an AI platform focused on the financial sector, has raised $3 million in Pre-Seed funding. The round was led by CyberFund, with participation from Delphi Labs, SNZ, GSR, and Ocular. The funds will be used to develop a "financial intelligent inference layer," a type of artificial intelligence specifically designed for the financial sector that does not produce illusions when money is involved. TrueNorth is dedicated to building AI infrastructure specifically for the financial sector, aiming to address the illusions and delays encountered by general-purpose models in financial decision-making through domain-specific AI. Currently, the platform has over 40,000 users on its waiting list. Leveraging structured manuals, real-time data fusion, and proprietary models trained specifically for market logic, the platform transforms the expertise of elite traders into AI agents. Infrastructure & Tools Antithesis, a testing tool used on the Ethereum network, has raised $105 million in Series A funding, led by Jane Street. Antithesis, a startup focused on distributed system stress testing, has raised $105 million in Series A funding. The round was led by Jane Street, with participation from Amplify Venture Partners, Spark Capital, Tamarak Global, First In Ventures, Teamworthy Ventures, and Hyperion Capital, as well as individual investors including Patrick Collison, Dwarkesh Patel, and Sholto Douglas. The new funds will be used to expand the engineering team, increase automation, and develop global market channels. According to reports, the company employs deterministic simulation testing technology to provide production-level fault simulation services for blockchain and financial systems. The Antithesis platform can simulate real-world network environments on a large scale, accurately reproducing edge case failures and helping engineers locate system vulnerabilities that are difficult to reproduce through traditional debugging methods. The company revealed that the Ethereum network used its services to simulate extreme scenarios before its "merge" upgrade, and its clients currently cover the financial, AI, and blockchain sectors, with revenue growing more than 12 times in the past two years. Digital Asset Holdings has raised $50 million in funding, with participation from BNY Mellon and Nasdaq. Digital Asset Holdings LLC, a financial blockchain company, has completed a new $50 million funding round, with investors including BNY Mellon, Nasdaq Inc., S&P Global, and iCapital. Earlier this year, the company completed a $135 million funding round led by DRW Venture Capital and Tradeweb Markets, with participation from Citadel Securities, IMC, Optiver, and others. Digital Asset Holdings is known for developing the public blockchain Canton Network, which supports asset tokenization and processes financial transactions, allowing users to determine the scope of information confidentiality. Several institutions, including Goldman Sachs and Tradeweb Markets, have used or participated in managing the Canton Network. Portal to Bitcoin, a native Bitcoin interoperability protocol, has raised $25 million in funding, led by JTSA Global. Portal to Bitcoin, a native Bitcoin interoperability protocol, announced the completion of a $25 million funding round led by JTSA Global, with participation from Coinbase Ventures, OKX Ventures, Arrington Capital, and others. Alongside the new funding, the company launched an atomic over-the-counter (OTC) trading platform, promising "instant, trustless cross-chain settlement for large transactions." The protocol focuses on providing institutions and large investors with a Bitcoin-pegged cross-chain OTC market. It utilizes Hash Time Locked Contracts (HTLCs) across multiple chains and Bitcoin Taproot contracts to enable the exchange of native Bitcoin with native assets on integrated blockchains in a non-custodial manner, emphasizing the reduction of trust assumptions in transactions. DAT (These types of transactions are not included in this week's financing report statistics) Lion Group has signed a $10 million private placement agreement, allocating $8 million to purchase BTC. Lion Group Holding Ltd. (NASDAQ: LGHL), a U.S.-listed company, announced the signing of an amendment to its securities purchase agreement to raise $9.984 million through convertible bond financing. The company plans to use $8 million of the net proceeds to purchase Bitcoin (BTC) as corporate reserves. UK-listed company Hamak Strategy has raised £2.5 million to support Bitcoin purchases and gold exploration. UK-listed Hamak Strategy has completed a £2.5 million funding round, with the funds to support its Bitcoin Treasury strategy and gold exploration in Africa. This follows news on July 30th that UK-listed Hamak Gold purchased its first batch of 20 Bitcoins. On October 15th, it was announced that Hamak Strategy had secured £35 million in funding to support its investments in gold and Bitcoin. Centralized Finance N3XT, founded by the former founder of Signature Bank, raised a total of $72 million in three rounds of funding. N3XT, a blockchain-based bank founded by a former Signature Bank executive, has completed three rounds of funding, raising a total of $72 million, with the most recent round completed in October. The company has received backing from several venture capital firms, including Paradigm, HACK VC, and Winklevoss Capital. N3XT was founded by Scott Shay, founder and former chairman of Signature Bank. Jeffrey Wallis, formerly head of digital asset and Web3 strategy at Signature Bank, serves as N3XT's CEO. Stablecoin app Fin raises $17 million, led by Pantera Capital. Fin, a stablecoin app founded by former Citadel employees, announced the completion of a $17 million funding round led by Pantera Capital, with participation from Sequoia and Samsung Next. The app aims to provide cross-border and large-value payment services using stablecoin technology, enabling fast global transfers without complex operations. Its design allows users to transfer funds to other Fin users, bank accounts, or cryptocurrency wallets, and claims that transaction fees will be significantly lower than traditional banking channels. Fin primarily targets large-value cross-border or domestic transfers, such as addressing payment efficiency issues in import and export trade. The app is not yet officially launched but plans to begin a pilot program between import and export companies next month. The company's profits will come from transaction fees and stablecoin reserve interest. French crypto savings platform Bitstack raises $15 million in Series A funding, led by 13books Capital. French crypto savings platform Bitstack announced the completion of a $15 million Series A funding round, led by 13books Capital, with participation from AG2R LA MONDIALE, Plug and Play Ventures, Serena, Stillmark, and Y Combinator. The company claims to have over 300,000 active users in France, with accumulated savings exceeding €300 million in Bitcoin, and revenue growing tenfold in two years. It has obtained a MiCA license from the French AMF and operates in multiple European countries. The company will accelerate the launch of its VISA debit card "Stackback" rewards and Euro accounts (including French IBANs), with card testing scheduled to begin on January 13, 2026, for 5,000 eligible users. other Predicting the market: Opinion revealed at the BBW event that it has completed a new round of financing worth tens of millions of US dollars. At an event co-hosted by Opinion, Aster, and WLFI at BBW, the Opinion team announced that it has recently secured tens of millions of dollars in funding. This funding will be used to advance the development of its prediction market ecosystem based on the BNB Chain, its user growth plans, and its infrastructure. Gondor, a prediction market DeFi layer, has raised $2.5 million in funding and will launch its beta version next week. Gondor, a prediction market DeFi layer, announced the completion of a $2.5 million funding round. It will launch a beta version next week, which will support lending using Polymarket holdings as collateral and trading with 2x leverage. Later, it will expand the leverage to 4-5x through cross-margining. DePIN: Web3 robotics company XMAQUINA has completed a new round of funding, led by Borderless. Web3 robotics company XMAQUINA announced the completion of its latest funding round, led by Borderless Capital, with participation from Waterdrip Capital, vVv, and Clairvoyant Labs, as well as strategic angel investors from Arkstream Capital, LD Capital, and KuCoin Ventures. All investors participated in the third wave of the Genesis Auction on the same terms as the general public. Other notable participants in previous auctions include Moonrock Capital, MH Ventures, Fundamental Labs, Generative Ventures, and Mulana Capital.

Original author: Ho Mo-cheung, Hong Kong 01 With a clearer global regulatory framework, increased institutional participation, and breakthroughs in underlying blockchain technology, the digital asset market is transitioning from an "early stage of experimentation" to a new phase of "institutionalized development." According to Frost & Sullivan data, from 2024 to 2029, the global onshore digital asset trading volume will achieve a CAGR of 48.9%, the tokenization services market will see an even higher CAGR of 94.8%, and the digital asset management services market will achieve a CAGR of 54.5%, indicating that the industry is entering a long-term, sustainable structural expansion cycle. In this round of structural upward cycle in the industry, compliance, licensing, and security have become the core elements that institutions and new funds are most concerned about. As a leading integrated digital asset company in Asia, HashKey, with its compliance-first strategic layout and business ecosystem covering the entire chain, is becoming a core bridge connecting traditional finance and the digital economy, standing at the starting point of the value enhancement cycle. Recently, with HashKey passing the Hong Kong Stock Exchange's listing hearing, its Hong Kong IPO will soon commence. This leading integrated digital asset group in Asia is showcasing the systemic value of its compliance moat, technological capabilities, and comprehensive ecosystem to the capital market. Industry insiders generally believe that HashKey's IPO will be a significant milestone in the institutionalization of digital assets in Hong Kong. Compliance as the foundation, and a synergistic ecosystem of business operations to create systemic advantages. In the digital asset field, compliance and security remain the primary principles determining a company's long-term development. As global regulatory frameworks rapidly improve, licenses and compliance capabilities have transformed from bonuses into core credentials for companies to expand their business scope and secure incremental institutional funding. Especially in high-barrier-to-entry sectors such as custody, RWA, and institutional asset management, regulatory approval is a direct ticket to the game and the only way to build competitive barriers. This is why HashKey has prioritized compliance since its inception, building a global compliance system covering core markets such as Hong Kong, Singapore, and Japan. As the first virtual asset trading platform (VATP) in Hong Kong simultaneously authorized to serve both retail and institutional investors, HashKey currently holds 13 cross-regional licenses, forming a regulatory moat that is difficult to replicate. Furthermore, the company's annual internal control audits have passed international certifications such as SOC 1 (Type 2), SOC 2 (Type 2), ISO27001, and ISO27701. Since its operation, it has maintained an industry record of "zero customer fund losses and zero on-chain penalties," laying an unshakeable foundation for its long-term credibility. Technology empowers growth from self-use to spillover effects, expanding the boundaries of growth. Based on this compliant platform, HashKey has built a full-chain business ecosystem of "transaction facilitation + on-chain services + asset management" and is rapidly expanding its market leadership. According to the prospectus, as of August 31, 2025, the transaction facilitation business accounted for 75% of the Hong Kong market share, with a cumulative spot trading volume of HK$1.3 trillion; the on-chain service staking scale exceeded HK$25 billion; the asset management scale exceeded HK$8 billion, and the return rate of its funds exceeded 10 times. All three segments rank first in Asia. More importantly, this integrated business is not simply a combination, but a self-reinforcing network that grows stronger with continued operation. Its flywheel effect manifests in: on-chain services providing tokenization tools for projects and institutions; exchanges handling distribution and circulation needs; and asset management accumulating long-term capital and meeting incremental demand. These three elements serve as entry points and reinforce each other, forming a positive value loop that continuously expands HashKey's ecosystem stickiness and market competitiveness. From compliance systems to technology platforms, and then to multi-business collaboration, HashKey is no longer just a trading platform, but a core hub for building Asia's digital asset infrastructure. On its technological foundation, HashKey has built a high-performance platform specifically designed for institutional scenarios: capable of supporting up to 50,000 transactions per second, with dynamic scaling capabilities, sufficient to handle periodic traffic surges and ensure stable and smooth transactions even under extreme market conditions. At the underlying level, the company's self-developed HashKey Chain—an Ethereum Layer 2 network for financial institutions—has become the technological carrier for key scenarios such as RWA tokenization, stablecoins, and DeFi applications, and has been selected by numerous financial institutions, gradually becoming the infrastructure for on-chain and off-chain asset flows. More noteworthy is that HashKey's technological capabilities have begun to be exported to external financial and technology institutions, creating a cross-market growth spillover effect. For example, it has partnered with Coins.ph to export its underlying technology and liquidity capabilities to create a licensed cross-border remittance channel; it has partnered with securities firms such as Victory Securities to launch compliant integrated account solutions; and it has partnered with Standard Chartered Bank, ZA Bank, and others to provide 24/7 fiat currency deposit and withdrawal services. This "technology infrastructure spillover" model has essentially expanded HashKey's growth boundaries from a single platform business to a broader regional fintech market, bringing more flexible long-term growth potential than the trading business, and also enabling it to establish a clear leading position in the Asian digital asset infrastructure race. With the accelerated implementation of scenarios such as RWA, stablecoins, on-chain clearing and payments, companies that possess both compliance access and underlying technical capabilities will capture the next long-term dividends of the entire industry. HashKey's early deployment in this direction is essentially opening up growth potential far exceeding its current scale. Ecological effects are beginning to emerge, and growth is entering a period of acceleration. As its business ecosystem gradually takes shape, HashKey's growth has entered a period of accelerated development, and the ecosystem's amplifying effect is fully unfolding. Financial data has already shown a clear structural upward trend: Total revenue increased from HK$129 million in 2022 to HK$721 million in 2024, a 4.6-fold increase in two years; the Hong Kong station launched in 2023 became a new engine, with Hong Kong revenue increasing by 58% year-on-year to HK$89 million in the first half of 2025. In terms of revenue structure, transaction facilitation services have become the main driver of growth, contributing 71.8% in 2024. Meanwhile, high-margin on-chain services and asset management services continue to provide stable cash flow, forming a virtuous cycle. Increased revenue has driven rapid expansion of gross profit: gross profit increased from HK$125 million in 2022 to HK$533 million in 2024, representing a CAGR of 106%; adjusted net loss also narrowed further from HK$400 million in 2022 to HK$376 million in 2024. Overall, the company's multiple advantages in compliance, technological capabilities, and ecosystem layout have built a significant comprehensive competitive barrier, firmly securing its core position in the Asian digital asset market. In the context of the deep integration of traditional finance and the digital economy globally, companies that integrate compliance, technology, and infrastructure will reap the greatest cyclical benefits. HashKey's strategic layout aligns perfectly with this wave of industrial structural migration, and its technology spillover, ecosystem expansion, and first-mover advantage in compliance are demonstrating its true long-term value to the market. In the Asian market, HashKey's strategic position deserves a more imaginative reassessment, and its growth potential is far from being fully realized. In particular, against the backdrop of digital assets becoming institutionalized, this not only represents a new stage in the company's development but also symbolizes a new trajectory that Hong Kong is forging in the global financial landscape. Original article URL: HashKey's IPO is imminent: Anchoring the golden age of digital assets, building a benchmark for compliance ecosystem in Asia | Hong Kong 01 https://www.hk01.com/article/60300961?utm_source=01articlecopy&utm_medium=referral

PANews reported on December 8th that, according to DefiLlama data, Gate saw a net inflow of over $518 million in funds over the past 30 days, ranking first among centralized exchanges.