Aspen Digital
Ark Invest Dumps $75 Million of Coinbase Shares as COIN Price Falls
Daily Market Wrap
Crypto market cap: 1.05 trillion, up 7.55%
BTC price stands at USD 22,763, up 7.69%
ETH price stands at USD 1,613, up 12.88%
Top gainer: Lido DAO (LDO), up 36.68%
Top loser: TerraClassicUSD (USTC), down 6.50%
News of the Day

Cathie Wood’s Ark Invest dumps $75 million worth of Coinbase shares as COIN price falls.
Why it matters:
Ark Invest offloaded over $75 million of Coinbase shares as the exchange has come under SEC scrutiny for “securities” related infringements
ARK Invest first bought Coinbase for over $200 per share back in 2021; Tuesday’s closing price was $52.93
ARK’s Coinbase shares were a part of their ARKK tech-focused fund, which sold 1,133,495 COIN shares, or 0.6833% of the fund’s portfolio
Crypto Daily Spotlight

Harmony plans to mint 4.97B ONE tokens to reimburse hack victims.
Brief introduction: Harmony is a layer-1 blockchain that uses sharding and Effective Proof of Stake to achieve scalability, security and decentralisation. The network was launched in 2019 and features trustless cross-chain bridges and four shards, which process transactions in parallel.
Why it matters:
The team behind the Harmony blockchain project has proposed minting up to 4.97 billion of its native token, ONE, to compensate victims of the $100 million Horizon Bridge hack in June
The community’s responses already appears to be extremely negative, with most comments on Harmony’s community page and Twitter voicing concerns over the proposal; a similar method of recovery was employed by the Terra eco-system following its $40 billion meltdown in May
The Harmony team stated that the reimbursement would be in the form of ONE tokens and span over a three-year period due to the treasury’s limited ability to provide immediate reimbursement
Daily Sector Tracker

Daily News Roundup
Crypto Lender Celsius Files to Bring Back Former CFO to Assist in Bankruptcy Proceedings https://bit.ly/3Ja50xg
Kraken Exchange is Reportedly Under Federal Investigation for Allegedly Servicing Crypto Traders in Iran https://bit.ly/3OEKiH0
Hong Kong Titled the Most Crypto-Ready Economy, Study Shows https://bit.ly/3Ja5TpA
HK-Based Spending App Offers Crypto Rebate for Customers https://bit.ly/3BiGisH
Terraform’s Co-founder Do Kwon Faces Fraud Allegations in South Korea https://bit.ly/3OKqX73
About Aspen Digital
Aspen Digital is a leading technology and financial services company with a mission to accelerate the mass adoption of digital assets. The company provides a digital asset management solution for asset managers, institutions, and sophisticated investors. Aspen Digital was co-founded by digital assets innovators and asset management veterans at Everest Ventures Group (“EVG”) and TT Bond Partners (“TTB”) in 2021.
For more information, please visit https://www.aspendigital.co/
Sign Up on Aspen Digital
We have launched the beta version of our platform. If you would like to know more, please sign up here.