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Jinse Finance reported that Tangany, a Munich-based digital asset custody service provider, has announced the completion of a €10 million Series A financing round. The round was led by Baader Bank, Elevator Ventures (the venture capital arm of Raiffeisen Bank International), and Heliad Crypto Partners, the digital asset investment arm of Heliad AG, with participation from HTGF and Nauta Capital. The company is currently regulated by the German Federal Financial Supervisory Authority (BaFin) and provides custody services for crypto trading platforms such as certain exchanges. The new funds will support the optimization of European financial infrastructure.

On September 7, WLFI Growth Director Ryan Fang stated in an interview on Thursday evening, "We believe that some very large token holders may have manipulated the price, essentially to lock in profits. We do think that in a world where centralized exchanges hold large amounts of user funds, certain exchanges might attract user tokens and send those tokens to other exchanges for sale. Again, we are still exploring and discovering this. But the possibility of the above situation occurring is certain. Now, imagine that a large exchange holds a significant amount of user assets and sends a large amount of user assets to another exchange that may have better liquidity and a single token, while simultaneously opening very large short positions—this is possible. In fact, some community members have been notifying us about this since Thursday. They believe that the scenario I just mentioned may have occurred. That would be massive systemic manipulation. We will investigate this, and it is very likely that this has caused huge losses in the past few days. But again, there is currently no conclusive evidence about this information, but we believe that something did happen in the past few days."