Golden Weekly is a weekly blockchain industry summary program launched by Golden Finance, covering key news, mining information, project dynamics, technological progress, and other industry trends over the week. This article is one of the news weeklies, bringing you a glimpse of the major events in the blockchain industry this week.
Headline
▌ETH's market share reached 12.8%, a new high for this year
Market data shows that ETH's market share reached 12.8%, a new high for this year.
▌Coinbase: DEX trading is now open to some U.S. users
Coinbase announces that DEX trading is now open to some U.S. users (excluding New York State). To ensure trading reliability, Coinbase will add support for new DEX assets in batches, gradually expanding the service scope in the coming weeks, ultimately supporting all Base ecosystem assets.
▌Trump: The situation in Ukraine could be resolved very soon
Trump: The situation in Ukraine could be resolved very soon.
▌Arthur Hayes spent 10.5 million USDC to repurchase ETH
According to monitoring by Lookonchain, Arthur Hayes sold 2,373 ETH for $3,507 each a week ago, worth $8.32 million. Four hours ago, he spent 10.5 million USDC to buy ETH. BitMEX co-founder Arthur Hayes previously stated on platform X that he had to buy it all back; will you forgive me? Tom Lee (the largest ETH treasury company Bitmine chairman). I swear I'll never take profits again.
▌Blue Ocean Interactive founder Wang Feng: Predicts Ethereum will break through $5,000, and the autumn of cryptocurrencies is expected to initiate
The founder of Blue Ocean Interactive, Wang Feng (@wangfeng_0128), stated that the market sentiment for Bitcoin and Ethereum should not be viewed in isolation. Bitcoin is currently trading sideways around $120,000, with little volatility and no major sell-off. This leaves room for Ethereum to maintain its upward trend after breaking through $4,000, predicting it will at least move towards $5,000. Similarly, Ethereum cannot be separated from the entire crypto market. The autumn of cryptocurrencies is expected to initiate, with DeFi, RWA, and star memes entering a phase of takeoff.
Policy
▌South Korea may launch regulated crypto investment products by the end of 2025
Compared to past cryptocurrency policies, South Korea is undergoing a significant shift, introducing spot ETFs and stablecoins at the core of its financial system. As the government formulates detailed plans, the country could see regulated crypto investment products launched as early as the end of 2025. This week, South Korea's top financial regulatory body, the Financial Services Commission (FSC), submitted a new proposal outlining its plans to introduce spot cryptocurrency exchange-traded funds. This roadmap has been submitted to the President's Policy Planning Committee, which includes a framework for legitimate, regulated crypto ETFs, a far cry from the country's previous cautious attitude. According to this roadmap, the FSC will prepare the necessary legal and technical foundations for these funds. This means establishing infrastructure, including custody, pricing, operations, and fund management, while formulating clear investor protection standards.
▌CleanSpark faces a risk of $185 million in tariffs due to imported Bitcoin mining machines
U.S. crypto mining company CleanSpark disclosed that some of the Bitcoin mining machines imported from April to June 2024 were identified as Chinese origin by U.S. Customs, potentially facing punitive tariffs of up to $185 million. CleanSpark denied the allegations, stating that its procurement contracts and supplier documents indicate the machines are not made in China and will strongly respond to the accusations. Reports indicate that the mining company IREN previously encountered similar disputes involving $100 million.
▌EU's new regulations give banks regulatory advantages in asset tokenization, which may accelerate tokenization development in Europe
The legislation passed by the EU last year created significant regulatory advantages for banks tokenizing traditional assets, allowing them to handle these assets more leniently than in most regions worldwide. This week, the European Banking Authority (EBA) released final technical standards, largely following the Basel Committee on Banking Supervision (BCBS) guidelines and primarily applicable to cryptocurrencies. However, EU legislation overturned the conservative approach to tokenizing traditional assets, clearly treating them on par with traditional assets without any additional conditions. EU banks can process tokenized securities on any type of blockchain without additional capital requirements; meanwhile, banks in other regions following the Basel Committee guidelines must impose a maximum 1250% risk weight for holding similar assets on unlicensed networks. This regulatory difference also extends to the stablecoin sector, giving Europe a unique advantage in institutional tokenization and digitalization of traditional financial instruments.
▌401(k) case lawyer: The goal for ordinary people is to have a safe and reliable retirement plan, while the cryptocurrency field is full of various dangers
On August 8, news broke that U.S. President Trump signed an executive order on Thursday allowing alternative assets such as private equity, cryptocurrencies, and real estate to enter workplace retirement plans. However, some investor rights advocates warn that while these new investments may offer enticing returns, they also pose significant risks to long-term retirement savers. Jerry Schlichter, founding partner of the law firm Schlichter Bogard, which specializes in high-fee lawsuits for 401(k) cases, stated: 'The goal for ordinary people is to have a safe and reliable retirement plan. New areas like cryptocurrency or private equity are filled with various dangers for investors.' Investment experts typically recommend allocating core long-term investment portfolios across diversified assets that can provide stable returns over the long term (at least several decades). Jerry Schlichter pointed out that given the long-term upward trend of the stock market, broad-based stock index funds are suitable 401(k) investment choices. The issues with cryptocurrencies are apparent. While certain cryptocurrencies have provided astonishing returns, these assets have existed for too short a time to prove their safety. 'Cryptocurrencies do not have a long-term performance history, and their short-term to mid-term performance is highly volatile,' Schlichter stated. 'If you do not understand this investment, you should not rely on it as a retirement asset.'
▌David Sacks: After Trump signs the executive order, over 90 million American workers will have access to alternative assets, including cryptocurrencies.
According to Cointelegraph, David Sacks, head of cryptocurrency and artificial intelligence, stated that after President Trump's executive order today, over 90 million American workers will have access to alternative assets, including cryptocurrencies.
Blockchain applications
▌Ant Group's self-developed public chain Jovay is expected to launch on the mainnet by the end of September, and will not issue tokens
Ant Group's Vice President and President of Ant Group's Blockchain Business, Bian Zhuoqun, revealed today that Ant Group's self-developed public chain, Jovay, is expected to officially launch at the end of September 2025. This public chain will be able to handle real transactions. On April 30 this year, Ant Group released its Layer 2 blockchain Jovay, explicitly stating that Jovay is a compliant, institutional-grade blockchain that will not issue tokens. Bian Zhuoqun stated that Ant Group aims to become a gateway connecting Web2 and Web3, providing more trusted assets for Web3 while introducing more compliant funds into Web2. She cited data forecasting that the global tokenization market size is expected to reach $16 trillion by 2030. Currently, Ant Group has expanded its RWA asset landscape in sectors such as renewable energy, computing power, and finance.
▌Hong Kong's first RWA industry white paper released: 'Everything can be RWA' is a false proposition
(RWA Industry Development Research Report · Industry Section 2025) released today in Hong Kong, systematically proposing the standards and framework for RWA asset screening. Previously, with the rapid development of real-world asset (RWA) tokenization trends, the market has been rife with the assertion that 'everything can be RWA.' The report points out that not all assets are suitable for RWA tokenization; 'everything can be RWA' is a false proposition, and assets that successfully achieve scalable implementation must meet three major thresholds: value stability, clarity of legal rights, and verifiability of off-chain data. (36Kr)
▌MetaMask increases support for Sei
The crypto wallet MetaMask has increased support for the Layer 1 blockchain Sei, bringing the total number of supported blockchains to over 10. The latest integration feature allows MetaMask users to directly access Sei-based applications, tokens, NFTs, and other assets from their wallets. Users can now use built-in fiat channels (such as credit cards and Apple Pay) to exchange, bridge, and purchase Sei tokens.
▌Vitalik: Ethereum will eventually achieve instant transfer of native assets across L2 via L1
Ethereum founder Vitalik Buterin stated that he is surprised to see numerous mainstream Layer 2s reach Stage 1 'limited training rounds'. The next goal is to achieve rapid withdrawals through a zero-knowledge proof system. He believes this is more important than reaching Stage 2 'no training rounds'. The rapid withdrawal time is crucial and will reduce the funding costs for liquidity providers. If the native withdrawal time can be shortened to under one hour in the short term and to 12 seconds in the medium term, it will further solidify Ethereum Layer 1 as the default platform for issuing assets and the economic center of the Ethereum ecosystem. To achieve this, we need to abandon the optimistic proof system, which essentially requires days to withdraw. Historically, zero-knowledge proof technology has been immature and costly, making optimistic proof a wise and safe choice. But this situation is rapidly changing, with the 2-of-3 ZK + OP + TEE proof system strategy achieving a balance between security, speed, and maturity. In the long run, we will ultimately achieve almost instant native asset transfers across L2 via L1.
▌Caocao Mobility explores RWA tokenization and stablecoin payments
Reporters learned that Caocao Mobility signed a strategic cooperation memorandum on virtual assets today with Hong Kong licensed financial institution Victory Securities. The two parties will carry out in-depth cooperation in three major areas: real-world asset (RWA) tokenization, stablecoin payment applications, and compliant digital currency issuance. This cooperation also marks the first systematic exploration of the integration of RWA and stablecoins and other cutting-edge digital financial tools in the domestic mobility industry. In this regard, Caocao Mobility's Executive Director and CEO Gong Xin stated that through blockchain technology and Web 3.0 innovative models, they will accelerate the asset tokenization process of the Robotaxi industry.
Cryptocurrency
▌Ethereum co-founder Jeffrey Wilcke recharged 9,840.36 ETH into Kraken, worth about $41.33 million
According to on-chain analyst Ai Yi's monitoring, Ethereum co-founder Jeffrey Wilcke has recharged 9,840.36 ETH into Kraken, worth about $41.33 million. In May this year, he recharged 105,737 ETH into Kraken and distributed it to eight new addresses; in the past hour, one of those addresses began transferring ETH back to the trading platform, possibly intending to sell at a high point. In May, the 105,737 ETH was valued at $262 million, and three months later, this portion of tokens has grown to $442 million.
▌DeFiance Capital founder: ETH's rise is different from BTC's isolated performance, top DeFi projects will welcome significant developments
DeFiance Capital founder and CIO @Arthur_0 stated on social media that Ethereum's rise is like a tide, which will drive many projects in the decentralized finance (DeFi) field, while Bitcoin's rise is more isolated. It is expected that soon, top DeFi projects will experience a series of significant developments.
▌The total market cap of cryptocurrencies returns above $4 trillion, with ETH's market cap surpassing $500 billion
According to the latest data from Coingecko, as the price of ETH briefly broke through $4,200, its market cap returned above $500 billion (currently reaching $502,571,832,019). The total market cap of cryptocurrencies also broke through $4 trillion again, currently reaching $4,006,443,176,701, with a 24-hour increase of 1.7%.
▌The president of The ETF Store: Year-to-date, ETFs and treasury companies have purchased Ethereum worth $19 billion
The president of The ETF Store, Nate Geraci, stated on platform X that year-to-date, ETFs (Exchange-Traded Funds) and treasury companies have purchased Ethereum worth $19 billion. ETFs bought $7 billion, while companies bought $12 billion. 'As banks, fintech companies, and corporations begin to adopt stablecoins, many of which will settle on open-source blockchains like Ethereum, Bitcoin's dominance has started to decline significantly.'
▌World Liberty Financial, supported by the Trump family, plans to establish a $1.5 billion cryptocurrency asset company
World Liberty Financial is planning to establish a public company to hold its WLFI token. Insiders reveal that the project aims to raise approximately $1.5 billion and is currently negotiating with institutional investors in the technology and cryptocurrency industries. The company will join the ranks of digital asset treasury companies.
Important economic dynamics
▌Federal Reserve Board member Bowman: Supports three rate cuts this year, ignoring temporarily high inflation is appropriate
Regarding inflation, Federal Reserve Board member Bowman stated that core personal consumption expenditures inflation seems to be moving towards a direction much closer to the 2% target than the data suggests. He believes that ignoring temporarily high inflation is an appropriate approach. The upward risk of inflation has decreased, and there is more confidence that tariffs will not lead to persistent inflation. Bowman stated that the sharp slowdown in job growth may be due to a significant weakening in labor demand. He noted that deregulation, tax cuts, and a business-friendly environment may offset the impact of tariff-related factors on economic activity and prices. Additionally, he supports three rate cuts this year. (Zhito Finance)
▌Federal Reserve monetary policy may become more dovish; gold futures briefly hit a historical high in early Asian trading
Spot gold prices are consolidating in Asia. U.S. President Trump stated on Thursday that he will nominate the chair of the White House Council of Economic Advisers, Milan, to fill a vacancy on the Federal Reserve Board. Analysts at ANZ Bank stated in a report: 'Milan is the architect of Trump's tariff policy, and the market believes this appointment means monetary policy will become more dovish.' Expectations for more Federal Reserve rate cuts may enhance the attractiveness of gold. Additionally, it has been reported that the U.S. imposes import tariffs on one kilogram gold bars, while one-kilogram gold bars are the most common trading specification in the global largest gold futures market, Comex, and the market claims this move will lead to difficulties in meeting U.S. gold demand. Spot gold is currently basically flat, and New York futures gold briefly touched a historical high of $3,534.10 per ounce during early trading, currently trading around $3,500 per ounce. (Golden Ten)
▌TD Securities: The market harbors doubts about U.S. tariff threats, focusing on economic data
TD Securities strategists stated in a report that due to doubts about some tariff threats from the U.S., the market is no longer focused on tariff announcements. The U.S. has announced a 50% tariff on India, a 39% tariff on Switzerland, a 35% tariff on certain imports from Canada, and tariffs on other trading partners. The market's focus is on the impact of tariffs on economic data and the Fed's expected rate cuts. Overall, the market is orderly, partly due to skepticism about some of Trump's more extreme threats.
▌Federal Reserve's Kashkari: Two rate cuts this year still seem appropriate
Federal Reserve's Kashkari: The economy is slowing down, and the Fed needs to respond to the economic slowdown. It may still be appropriate to start adjusting policy interest rates in the short term. Answers to inflation issues will take some time to know, while economic slowdown data is clear. Two rate cuts this year still seem appropriate, but if inflation rises due to tariffs, the Fed may pause rate cuts or even raise rates. Adjusting interest rate policy may be better than waiting. Unemployment rate data is very important, but the Fed knows that this data may be revised.
▌Federal Reserve officials hint at a recent rate cut, leading to a broader decline of the dollar
The dollar fell to a nine-day low against a basket of currencies after Minneapolis Federal Reserve President Kashkari hinted that the Fed may soon resume rate cuts. San Francisco Fed President Daly also hinted at a possible immediate rate cut on Monday. Last Friday's U.S. employment data was weaker than expected, boosting expectations for a rate cut in September. LSEG data shows that the U.S. money market currently estimates a 91% likelihood of a rate cut in September.
