August proved to be a challenging month for the cryptocurrency market. The overall market capitalization slipped to a six-month low of $1.96 trillion, primarily due to notable declines in Bitcoin (BTC), which fell from $68,000 to approximately $49,000. Recent analysis highlights that the next few weeks might present a critical period for investors, as significant capital movements and potential Federal Reserve interest rate decisions could impact the market. Historically, September tends to be tough for BTC, with Bitcoin often finishing the month in the red.
The forthcoming Federal Reserve interest rate decisions could further influence market volatility. A 25 basis point cut might enhance liquidity, while a more significant reduction could initially boost prices before potential corrections. Additionally, the anticipated $16 billion distribution from FTX to customers could reintroduce considerable capital into the market, possibly aiding in a late-year recovery for Bitcoin and other cryptocurrencies.
Now, let’s dive into our key achievements in August.
Hex Trust has announced the launch of its inaugural Staking Partner Program, featuring four institutional-grade partners: Chorus One, Kiln, Luganodes and Twinstake. This initiative allows clients to earn additional rewards on their digital assets while ensuring the security of their private keys in a regulated, insured custodial environment. The program simplifies the staking lifecycle with a unified platform for allocation, management, and reporting of staked assets, backed by rigorous vetting of partners who collectively manage over $15 billion in staked assets. This expansion enhances Hex Trust's commitment to delivering a seamless and secure staking experience.
Full announcement here.
Featured in: CoinDesk | The Asset | MPOST
Hex Trust has integrated with Talos, the premier provider of institutional trading technology for digital assets. Hex Trust will join the Talos Provider Network, offering its custody services to Talos clients. Through its bank-grade platform, Hex Safe, Hex Trust delivers institutional-grade custody, DeFi, brokerage, and financial solutions designed for security and scalability. “Partnering with Talos represents a significant step forward in delivering the same standards of security and compliance from traditional finance to the digital asset world,” said Giorgia Pellizzari, Head of Custody at Hex Trust. This integration enhances the client experience and allows institutions to manage workflows across the digital asset trading lifecycle through a single interface.
Learn more about our partnership here.
Hex Trust CEO Alessio Quaglini was featured on CNBC, discussing significant developments in the US cryptocurrency market. He focused on the recent introduction of Spot Ether ETFs, which represents a pivotal shift in how institutional investors can access Ethereum. Alessio also pointed out that former President Trump’s support for cryptocurrencies could reshape future US crypto policy and regulation, potentially fostering a more favorable environment for digital assets.
Additionally, he emphasized the increasing client demand for crypto assets, as highlighted by BlackRock's recent moves into the space. This demand indicates a growing institutional interest, which could drive further adoption and innovation in the cryptocurrency sector.
In an interview with Hubbis, Alessio Quaglini explored the evolution of regulated digital asset platforms. He discussed the importance of secure custody, trading, and effective regulation for institutional growth. Alessio emphasized Hex Trust’s secure custody and staking services, noted trends like asset tokenization, and identified Dubai as a key location for regulated businesses, while sharing strategic goals for service diversification and geographic expansion.
Read the full interview here.
Alessio Quaglini participated in a Ripple-led panel titled "Navigating Blockchain Technology for Business Success," held in Hong Kong. Moderated by Lisa Kienzle of Ripple and featuring Bradley Maclean from Merkle Prime, the panel delved into blockchain’s evolving role in payments and custody. Key topics included modernizing legacy systems, addressing security and regulatory challenges, and strategies for effective stakeholder engagement. The panel provided valuable insights into the future of blockchain technology, implementation best practices, and solutions to industry challenges.
Hex Trust participated in the Asia Blockchain Summit in Taipei, addressing the future of finance despite a challenging market downturn. Nvidia CEO Jensen Huang emphasized Taiwan's significant role in the AI and computing sectors, where local tech companies and startups actively engaged in workshops and discussions. The emerging Layer-1 blockchain TON is positioning itself as a competitor by leveraging its extensive Telegram user base and showcasing important projects at the event. Additionally, Web3 gaming was a major focus, with companies presenting innovations across eSports, MOBAs, card games, and FPSs.
As August concludes, Hex Trust is heading to TOKEN2049 in Singapore from September 16-19, where over 30,000 attendees, 10,000 companies, 500 speakers, and 600 exhibitors are expected. TOKEN2049 is the premier crypto event that unites the global Web3 industry, bringing together entrepreneurs, investors, developers, and media to define the future of the space. Our team, including CEO Alessio Quaglini, Head of Clients Calvin Shen, Head of Markets Edward Zhao, and other key members, will be on-site next week to engage in discussions and explore potential partnerships during the main conference and various side events. We look forward to connecting with investors, builders, and others involved in exciting projects.
For meetings or inquiries, please contact us directly or email partnerships@hextrust.com.
Hex Trust has reached 40,000 followers on LinkedIn, demonstrating strong community support and engagement. This milestone reflects the firm’s commitment to advancing innovation in crypto custody and digital asset solutions. As Hex Trust continues to expand its services, the team is dedicated to providing regular updates and insights on market developments, regulatory changes, and best practices in the digital asset space. Thank you to all followers for your support as Hex Trust drives the future of finance forward.
Hex Trust is ranked #2 among major Digital Asset Custodians in terms of followers. Your continued support enables us to grow and innovate in this dynamic industry.
In August, Hex Trust expanded blockchain and digital asset support, alongside enhancing the Hex Safe:
New Chain Support
New Asset Support
For a complete list of all supported blockchains and tokens on Hex Safe, you can refer to our knowledge base.
Product Enhancements
New Delegation Feature for Injective Clients
For further information and assistance, contact our support team at support@hextrust.com.
Our work continues and we look forward to bringing you more updates in September.
— The Hex Trust Team
