Today's news tips:
1. Next week's macroeconomic outlook: The Fed's September rate cut expectations face the ultimate judgment
2. Bo Hines, executive director of the White House Cryptography Council, is stepping down
3. Blockchain plans to release new Bitcoin mining chips next week
4. GameBuild (GAME) is now available on Binance Alpha, with an airdrop threshold of 237 points.
5. Binance Alpha will list World3 (WAI) on August 12th
6. Arkham: Vitalik Buterin’s on-chain assets now have a market value exceeding $1 billion
7. Arthur Hayes buys ETH, LDO, ETHFI, and PENDLE
8. Abraxas Capital shorted ETH, BTC, SOL, HYPE, and SUI, with a current loss of over $190 million
Macro
Next week's macro outlook: Fed's September rate cut expectations face ultimate judgment
While there was limited economic data this week, some data clearly indicated slowing demand. While US labor productivity remained strong, slowing economic activity and rising service sector prices suggest the market is experiencing signs of mild stagflation. Looking ahead to next week, the US will release three key data points: CPI, PPI, and terror data. These three releases may further reinforce market expectations of a September rate cut by the Federal Reserve. The following are key points for market attention in the new week:
Tuesday at 20:30, US July CPI data;
At 22:00 on Tuesday, Barkin, a 2027 FOMC voting member and president of the Richmond Fed, will deliver a speech;
At 01:00 on Thursday, Goolsbee, a 2025 FOMC voting member and president of the Chicago Fed, will deliver a speech on monetary policy;
At 01:30 on Thursday, Atlanta Fed President and 2027 FOMC voting member Bostic will deliver a speech on the outlook for the U.S. economy.
At 20:30 on Thursday, the number of initial jobless claims in the United States for the week ending August 9 and the July PPI data will be released;
At 02:00 on Friday, Barkin, a 2027 FOMC voting member and president of the Richmond Fed, will participate in a webinar;
At 22:00 on Friday, the preliminary value of the US one-year inflation rate forecast for August, the preliminary value of the University of Michigan Consumer Confidence Index for August, and the monthly rate of commercial inventories in June will be released.
If next Friday's retail sales data reveals deeper-than-expected economic distress, market expectations for a September rate cut and another before the end of the year are unlikely to change, but any CPI-induced dollar gains are likely to be limited and short-lived. More importantly, Trump remains willing to impose tariffs on more countries. Therefore, if the situation spirals out of control, further selling of US assets could occur in the near future.
Trump: My greatest wish is to bring peace and stability to the world
According to Jinshi, Trump said: As the President of the United States, my greatest wish is to bring peace and stability to the world.
Bo Hines, executive director of the White House Cryptography Council, is stepping down
Journalist Eleanor Terrett tweeted that Bo Hines, executive director of the White House Cryptography Council, is leaving his position to return to the private sector. Hines, who worked as a partner at a growth equity firm before joining the Trump administration, will continue as a special government employee, assisting David Sacks on artificial intelligence-related matters. Patrick Witt, Hines' deputy, is expected to take over as executive director.
Bo Hines confirmed this via Twitter, saying: "After returning to the private sector, I look forward to continuing to support the thriving cryptocurrency ecosystem in the United States."
Chairman of El Salvador’s CNAD: New (Investment Banking Law) allows licensed banks to conduct digital asset business
Juan Carlos Reyes, president of the Salvadoran Digital Asset Commission (CNAD), the government’s cryptocurrency regulator, said investment banks are now allowed to hold Bitcoin and other digital assets on their balance sheets and offer cryptocurrency services to “sophisticated” investors, the equivalent of accredited investors in the United States.
“The new (investment banking law) allows private investment banks to serve ‘sophisticated investors’ in both fiat and foreign currencies and to hold a Digital Asset Service Provider (PSAD) license to engage in digital asset business such as Bitcoin. Banks holding a PSAD license can choose to operate entirely as Bitcoin banks.”
Supporters of the new law say it encourages foreign investment in El Salvador and positions it as an emerging financial hub.
Earlier news reported that El Salvador plans to establish the world's first Bitcoin bank.
Hubei Shiyan issues warning against virtual currency pyramid scheme risks
According to the China Consumer News, reporters learned from the Shiyan Municipal Market Supervision Bureau in Hubei Province that the bureau has recently received numerous complaints and reports regarding virtual currency projects such as "Uke Chuang," "Shiyi Hui," and "Ronghui Capital." Initial investigations revealed that these projects advertised returns on investments in cryptocurrencies. Their model involved using offshore platforms for online cryptocurrency speculation and recruiting members through a multi-asset model. In addition to profiting from following individual investors, members were also required to share their profits and invite new investors to participate, profiting through "recruiting members." This behavior is suspected of using pyramid schemes to conduct illegal financial activities, posing significant risks.
In order to protect the property safety of consumers, in accordance with the provisions of the (Regulations on Prohibition of Pyramid Schemes) (Notice on Further Preventing and Dealing with the Risks of Speculation in Virtual Currency Transactions), the Shiyan Municipal Market Supervision Bureau hereby issues a risk warning to beware of virtual currency pyramid scheme traps.
Viewpoint
S&P Global: July US CPI data will be a key economic indicator in the new week
According to Jinshi, S&P Global stated that July's US CPI data will be a key economic indicator for the upcoming week. Markets are eagerly awaiting the report amid expectations that tariffs will drive inflation higher. While recent tariff developments (including the higher tariffs imposed on August 7th and the newly threatened 100% tariff on chips) appear to indicate rising inflation, overall US consumer price inflation remained below 3.0% in the second quarter. Notably, S&P Global's US Purchasing Managers' Index (PMI), a leading indicator of CPI trends, has already hinted at a potential rise in inflation in the second half of 2025. Therefore, the upcoming CPI data will confirm whether price increases began to accelerate in July. This is crucial for the Federal Reserve's monetary policy, which is currently adopting a wait-and-see approach given the potential volatility in prices.
Analyst: ETH price target is now $20,000, or may reach a new high within 1-2 weeks
According to Cointelegraph, market sentiment has rallied again after ETH broke through $4,000 for the first time since the end of 2024. Analyst Merlijn stated that ETH's price has opened an upward trend, with the current highest target price potentially set at $20,000. Furthermore, BitBull noted that driven by a massive short squeeze and institutional buying, ETH prices may be more likely to reach new all-time highs. If the weekly closing price is above the $4,100 range, a new all-time high could occur within one to two weeks.
Project News
Blockchain to release new Bitcoin mining chip next week
Amrita Ahuja, CFO of Block, the crypto fintech company founded by Twitter co-founder Jack Dorsey, told CNBC that the company will launch a new Bitcoin mining chip next week, aiming to optimize the decentralized Bitcoin mining ecosystem. This comes months after Block reportedly announced the completion of development of a 3-nanometer Bitcoin mining chip. Furthermore, Jack Dorsey also posted "Next Week" on the X platform, along with an image of a mining tool, hinting at the upcoming August 14th launch of the new product.
Stability DAO: Funds affected by the CrediX attack, and a report is being prepared to recover funds.
In response to the Credix attack, which resulted in the deactivation of the X account and its subsequent "silence," DeFi protocol Stability DAO tweeted that approximately 20% to 30% of the MetaVault funds on its platform were affected. Stability DAO is working closely with Sonic Labs and other affected protocols to prepare a detailed report to track down the team and the exploiter, hoping to recover the funds. Furthermore, Stability DAO is developing a compensation and recovery plan to assist affected victims, with implementation expected to begin within two weeks at the earliest. MetaVault will reopen next week, with further details to be released at that time. Stability DAO previously collaborated with CrediX, integrating with the platform approximately a week ago and stating that it has provided additional revenue opportunities for the platform.
GameBuild (GAME) is now available on Binance Alpha, with an airdrop threshold of 237 points.
GameBuild (GAME) is now listed on Binance Alpha. Eligible Binance users can use their Binance Alpha Points to claim an airdrop of 10,200 GAME tokens within 24 hours of trading starting on the Alpha event page.
The Binance Alpha airdrop will be distributed in two phases:
Phase 1 (first 18 hours): Users with at least 237 Alpha Points can claim.
Phase 2 (Last 6 Hours): Users holding at least 200 Alpha Points can participate in the Phase 2 airdrop on a first-come, first-served basis. The minimum score will automatically decrease by 15 points every hour while the campaign continues.
Claiming the airdrop will cost 15 Binance Alpha Points. Users must confirm the claim within 24 hours on the Alpha event page; otherwise, the airdrop will be deemed forfeited.
Binance Alpha to List World3 (WAI) on August 12th
Binance Alpha will officially list World3 (WAI) on August 12th. Eligible users can redeem their airdrop using Binance Alpha Points after Alpha trading opens. Detailed details will be announced later.
Important data
Arthur Hayes spent 10.5 million USDC to buy ETH
According to Lookonchain, Arthur Hayes sold 2,373 ETH at $3,507 a week ago, worth $8.32 million. Four hours ago, he spent 10.5 million USDC to buy ETH.
Ethereum co-founder Jeffrey Wilcke deposited another 9,840.36 ETH into Kraken after three months
According to on-chain analyst Aiyi, Ethereum co-founder Jeffrey Wilcke has deposited another 9,840.36 ETH into Kraken, worth approximately $41.33 million, after a three-month hiatus. In May of this year, he deposited 105,737 ETH into Kraken and distributed it to eight new addresses. Within the past hour, one of these addresses has begun transferring ETH to an exchange again.
ShapeShift founder Erik Voorhees sold 6,581 ETH today
According to Lookonchain, Erik Voorhees, an early Bitcoin evangelist and founder of ShapeShift, sold 6,581 ETH today, valued at $27.38 million. Nine years ago, he acquired 14,945 ETH from ShapeShift (worth $1.156 million then, now $62.68 million), when ETH was worth just $7.74. His last ETH sale was on December 6, 2024, when he sold 7,807 ETH (worth $31.27 million) for $4,005. He currently holds 556.68 ETH (worth $2.33 million).
Arkham: Vitalik Buterin's on-chain assets now have a market value of over $1 billion
Arkham published a post on the X platform stating that the market value of Ethereum co-founder Vitalik Buterin's on-chain assets has now exceeded US$1 billion.
NFT transaction volume fell 11% month-on-month to $134.9 million in the past seven days, with both buyers and sellers falling by about 90%.
CryptoSlam data shows that NFT market transaction volume fell 11% to $134.9 million over the past week. Market participation also declined, with the number of NFT buyers plummeting 89.83% to 73,900 and the number of NFT sellers plummeting 91.14% to 42,878. The number of NFT transactions increased 1.60% to 1,781,919.
Ethereum network transaction volume reached $58.5 million, down 23.43% from the previous week. Polygon network transaction volume reached $17.8 million, up 56.90% from the previous week. Bitcoin network transaction volume reached $14.2 million, down 19.47% from the previous week. BNB Chain network transaction volume reached $13.6 million, up 33.54%.
This week's high-value transactions include:
CryptoPunks#1021sold for 720 ETH ($2,569,908)
CryptoPunks#9797sold for 140 ETH ($503,547 USD)
CryptoPunks#7414sold for 100 ETH ($341,596)
CryptoPunks#7211sold for 75 ETH ($292,320)
CryptoPunks#3291sold for 72 ETH ($281,019)
Since last night, five Ethena institutional investor addresses have transferred a total of 40.217 million ENA to the exchange, worth approximately $29.8 million.
According to on-chain analyst Ember, five Ethena institutional investor addresses have transferred a total of 40.217 million ENA (US$29.8 million) to exchanges since last night:
Strobe Ventures transferred 7 million ENA to Binance 12 hours ago and withdrew 5.087 million USDC 4 hours later at a selling price of $0.726.
Amber Group transferred 6.39 million ENA ($4.84 million) to Binance 4 hours ago;
0xAb4...18A address transferred 6.145 million ENA ($4.55 million) to Bybit 11 hours ago;
The address 0x6e6...922 transferred 15 million ENA ($11.05 million) to Bybit 1 hour ago;
The address 0x969...aF5 transferred 5.682 million ENA ($4.27 million) to Bybit 5 hours ago.
In the past 24 hours, about 69,400 ETH flowed into CEX platforms, and more than 90,000 ETH flowed into Binance.
According to the latest data from Coinglass, approximately 69,400 ETH flowed into CEX platforms in the past 24 hours, of which 92,800 ETH flowed into Binance, 9,886.8 ETH flowed into OKX, 17,300 ETH flowed out of Bitfinex, and 3,489.96 ETH flowed out of Coinbase Pro.
Data: USDe's market capitalization exceeded $10 billion in about 500 days
Messrai researcher Stablecoin Intern tweeted that Ethena's synthetic stablecoin USDe has exceeded a market capitalization of $10 billion in just 500 days.
Abraxas Capital shorted ETH, BTC, SOL, HYPE, and SUI, with a current loss of over $190 million
According to Lookonchain, two Abraxas Capital accounts shorted ETH, BTC, SOL, HYPE, and SUI, resulting in total unrealized losses exceeding $190 million. Abraxas Capital held a short position of 113,819 ETH (worth $483 million), resulting in losses exceeding $144 million.
Galaxy Digital transferred 224,000 SOL to CEX, worth approximately $41.12 million
According to Lookonchain monitoring, Galaxy Digital deposited 224,000 SOL (US$41.12 million) to Binance and Coinbase 2 hours ago.
Arthur Hayes bought ETH, LDO, ETHFI and PENDLE, totaling approximately $6.85 million
According to on-chain analyst Ember, BitMEX co-founder Arthur Hayes transferred 14.8 million USDC to exchanges and several institutional business platforms after saying yesterday that he would buy back ETH.
In the past two hours, $6.85 million in assets have been received: 1,250 ETH ($5.29 million), 424,000 LDO ($550,000), 420,000 ETHFI ($510,000), and 92,000 PENDLE ($500,000). Arthur Hayes previously predicted on August 2nd that BTC would fall back to $100,000 and ETH to $3,000, and sold ETH and ETH ecosystem tokens he had purchased in July. These included ENA, AAVE, LDO, ETHFI, and PEPE. ETH sold for $3,506.
Institutional holdings
Carlyle Group built a long position on crypto brokerage Robinhood in the second quarter
According to 13F reports filed with the U.S. Securities and Exchange Commission, global alternative asset management giant Carlyle Group established a long position in the popular crypto brokerage Robinhood in the second quarter, increasing its holdings in StandardAero and divesting from WeRide, Seacor Marine, Spruce Bio, and Instacart. It also reduced its holdings in Smart Share, Global, and Complete Solaria, leaving its major holdings in StandardAero, Soleno, Phathom Pharma, Pony AI, and Invitation Homes.
