Headlines
▌Circle will launch a Layer 1 blockchain ARC focused on stablecoins
According to Circle's official blog, Circle announced the launch of Arc, an open Layer-1 blockchain designed for stablecoin financial scenarios. Arc uses USDC as its native gas, supporting low and predictable dollar-denominated transaction fees, and includes an institutional-grade foreign exchange engine for automatic 24/7 settlement between stablecoins. Arc adopts the Malachite high-performance consensus mechanism, supporting sub-second finality and optional privacy protection. The chain is compatible with EVM, targeting applications such as cross-border payments, stablecoin derivatives, on-chain credit, and capital market settlement, with public testing expected this fall and mainnet launch in 2026.
▌Remittance giant Western Union is considering launching a dollar stablecoin
Remittance giant Western Union Co. is considering launching its own dollar stablecoin, as more and more cryptocurrency projects compete with its core cross-border money transfer business. CEO Devin McGranahan said in an interview on Monday, "We are exploring opportunities to issue stablecoins, particularly in markets outside the US." He added that for customers in other countries where regulators allow such activities, this stablecoin could be "almost like a dollar savings account."
Market
As of press time, according to CoinGecko data:
BTC price is $120,111, 24-hour change +1.2%;
ETH price is $4,602.86, 24-hour change +8.9%;
BNB price is $834.77, 24-hour change +3.7%;
SOL price is $192.31, 24-hour change +9.9%;
DOGE price is $0.236, 24-hour change +6.1%;
XRP price is $3.27, 24-hour change +4.4%.
TRX price is $0.3522, 24-hour change +1.9%.
Policy
▌Trump: Powell should cut rates immediately! Considering filing a major lawsuit against him
President Trump stated on social media: "Mr. Powell, it's too late now. He must lower the interest rates. He always does it too late, causing incalculable harm. Fortunately, the economy is doing very well, and we have overcome Powell and the complacent committee. However, I am considering allowing a major lawsuit against Powell because the work he has done in managing the Fed building construction is terrible and extremely incompetent. $3 billion for a job that should have cost $50 million to fix. Not good!"
▌Guangzhou: Strengthen investment attraction for key digital service agencies such as blockchain and artificial intelligence
The Guangzhou Municipal Government recently issued (a plan for implementing financial support for the deepening of comprehensive cooperation between Guangdong-Hong Kong-Macao in Nansha, Guangzhou). It mentions supporting the development of the digital industry. Strengthening investment attraction for key digital service institutions such as blockchain and artificial intelligence, and cultivating local high-quality digital service institutions. Encouraging digital industry enterprises to strengthen cooperation with Nansha financial institutions to expand the integration of financial scenarios. Supporting the construction of data computing power centers, R&D certification centers, testing centers, and regulatory platforms for the integration of key digital technologies like blockchain and artificial intelligence with financial scenarios in Nansha. Promoting data exchanges to improve comprehensive services for data circulation and trading, innovating data financial products in cooperation with financial institutions and credit agencies, enhancing cooperation and connectivity with licensed digital asset trading platforms in Hong Kong, studying the construction of a cross-border regulatory system for mutual recognition of digital assets between the two places, and piloting project implementation, innovating digital asset trading services.
▌Vietnam will pilot a digital asset exchange at the international financial center
The Vietnamese government announced plans to pilot a digital asset exchange at the international financial center. Three legal measures have laid the foundation for the digital asset field, including the National Assembly passing a resolution on developing financial centers, the Ministry of Finance submitting a pilot proposal for digital asset exchanges, and new laws clarifying asset category definitions. The Ministry of Finance is refining relevant pilot policies, expected to be submitted to the government in August, covering issuance, trading, management, and more. Service agencies can independently choose listed assets, prioritizing those with high liquidity. Officials emphasized that blockchain is the core infrastructure and will strengthen cybersecurity and risk management. The central bank is studying the model for a national digital currency (CBDC).
Blockchain applications
▌Block plans to provide Bitcoin banking services for small businesses
According to Cointelegraph, Twitter co-founder Jack Dorsey's payment platform Block plans to offer a full suite of Bitcoin banking services for small businesses.
▌Perplexity proposes $34.5 billion acquisition of Chrome browser
According to the Wall Street Journal, artificial intelligence company Perplexity has made a $34.5 billion acquisition proposal to Google for its Chrome browser. Perplexity is currently valued at approximately $18 billion and claims that several large venture capital funds have agreed to fully support the deal.
▌Paradigm co-founder Matt Huang appointed as the first CEO of Stripe's blockchain project Tempo
According to multiple informed sources, payment giant Stripe has appointed Matt Huang, co-founder and managing partner of cryptocurrency venture capital firm Paradigm, as the first CEO of its new blockchain project Tempo, which aims to expedite its entry into the blockchain space. Huang is also a member of Stripe's board and will continue to serve as a managing partner at Paradigm. According to previous reports, Stripe is collaborating with Paradigm to develop the L1 blockchain Tempo.
▌Do Kwon to plead guilty in $40 billion cryptocurrency collapse case
According to Reuters, a US court judge stated at a hearing that Terraform Labs founder Do Kwon will plead guilty to two counts of conspiracy to commit fraud and cyber fraud, involving the collapse of cryptocurrencies worth over $40 billion.
Cryptocurrency
▌Pantera has invested over $300 million in DAT company
Pantera Capital has disclosed that it has invested over $300 million in the Digital Asset Treasury (DAT) company, with its portfolio covering eight tokens: Bitcoin, Ethereum, Solana, BNB, Toncoin, Hyperliquid, Sui, and Ethena, involving relevant companies in the US, UK, and Israel. Pantera believes that DAT may have higher return potential than direct holdings or ETFs. Recently, Pantera raised two special funds for DAT, with total fundraising exceeding $100 million.
▌BitMine discloses plans to issue up to $20 billion in common stock
According to BitMine's prospectus supplement, Bitcoin mining company BitMine Immersion Technologies plans to issue up to $20 billion in common stock. The company has previously raised approximately $4.499 billion through sales agreements. BitMine stated that it primarily engages in Bitcoin mining and has recently initiated a financial management strategy for Ethereum. The company plans to raise funds through the issuance of common stock, fixed-income instruments, and other means to purchase Bitcoin and Ethereum and expand its mining operations. The company operates data centers using immersion cooling technology and offers "mining as a service" (MaaS) to clients.
▌Circle releases Q2 financial report: USDC circulation surpasses 65 billion, a year-on-year increase of 90%
According to Businesswire, Circle released its Q2 financial report for fiscal year 2025. The report showed that as of the end of Q2, USDC circulation increased by 90% year-on-year to $61.3 billion, total revenue and reserve income increased by 53% year-on-year to $658 million. The net loss for the quarter was $482 million, mainly affected by two non-cash expenses related to the initial public offering (IPO).
▌Tron Inc. Q2 financial report: Shareholders' equity exceeds $111 million, will continue strategic investment in digital assets
Nasdaq-listed Tron Inc. released its financial performance report for the period ended June 30, 2025, disclosing that as of the second quarter of 2025, it achieved shareholders' equity exceeding $111 million through investments in cash, cash equivalents, restricted cash, and TRON tokens (TRX), a year-on-year increase of over 3,500% compared to less than $3.1 million in shareholders' equity in 2024. In addition, for the three months ended June 30, 2025, Tron Inc. reported a net profit of $1,467,855, compared to a loss of $520,971 in the same period last year, with no debt except for operational payables.
▌Grayscale launches DeepBook and Walrus trust funds
Grayscale launches DeepBook and Walrus trusts for investing in DEEP and WAL tokens.
▌Coinbase: Launching second stablecoin guidance fund Bootstrap Fund
Coinbase is about to launch the second stablecoin guidance fund, Bootstrap Fund, aimed at enhancing the liquidity of stablecoins in the DeFi capital market. The fund is managed by Coinbase Asset Management (CBAM).
▌Kazakhstan's Fonte Capital launches the first spot Bitcoin ETF in Central Asia
Kazakhstan's Fonte Capital will officially launch the first Bitcoin spot ETF in Central Asia—BETF—on August 13, 2025, at the Astana International Exchange (AIX). The fund is custodied by the US-regulated custodian BitGo, providing insurance coverage of up to $250 million. The trading price is denominated in US dollars.
▌USDC Treasury mints an additional 500 million USDC on the Solana chain
According to @whale_alert monitoring, USDC Treasury has minted an additional 500 million USDC on the Solana chain.
▌Coinbase adds WCT to asset listing roadmap
Coinbase announces that it will add WalletConnect Token (WCT) to the asset listing roadmap.
Important economic dynamics
▌US July CPI year-on-year increase of 2.7%, slightly below expectations
US July CPI increased by 0.2% month-on-month, estimated at 0.2%, previous value was 0.3%. US July CPI increased by 2.7% year-on-year, estimated at 2.8%, previous value was 2.7%.
▌Trump administration plans to reform the way employment data is collected
According to the Wall Street Journal, after the poor performance of employment data led to the abrupt dismissal of the Bureau of Labor Statistics director this month, White House officials revealed that the Trump administration is considering changing the way federal employment data is collected and released. According to informed sources, a series of closed-door meetings have been held in recent days between White House aides and Labor Department officials to explore new technologies to improve data collection efficiency. A White House assistant stated that improving the response rate of the Labor Statistics Bureau's survey questionnaire is one of the reform goals. Officials said Trump has made it clear that he wants to avoid major data revisions in the future. White House Press Secretary Levitt stated on Tuesday that the President is reviewing the "statistical methods and processes" behind the employment data. Reports suggest that if there are changes in the statistical methods for the non-farm payroll report released on the first Friday of each month, it could raise questions about Trump's manipulation of data for political purposes. The President, who typically questions data that does not align with his worldview, has been increasingly tightening control over traditionally independent operating agencies and purging career bureaucrats perceived as disloyal.
▌White House: Trump is considering suing Powell over the renovation of the Fed building
White House spokesman Levitt stated on Tuesday that President Trump is considering suing Fed Chair Powell over management issues related to the renovation of the Fed's Washington headquarters. Earlier, President Trump posted on social media mentioning this potential move, intensifying Trump's ongoing pressure on Powell to cut rates.
▌US Treasury Secretary: Trump is broadly searching for candidates for Fed Governor, including former Chair Yellen
On Tuesday local time, US Treasury Secretary Mnuchin expressed optimism that the Senate would confirm current Economic Advisory Council Chair Stephen Moore to fill the Fed's temporary vacancy before the September meeting. Mnuchin revealed that President Trump is widely searching for candidates to fill the permanent position at the Fed that will open in January next year and is very open-minded about it. He disclosed that the President has even considered nominating former Fed Chair Janet Yellen. "This is not an ideological issue, but about the economy—what is most beneficial for the American people and what is most beneficial for economic development," Mnuchin emphasized.
▌US Treasury Secretary: The Fed has fundamental issues, hopes to find someone to restructure the Fed
US Treasury Secretary Mnuchin: Actively seeking talents for the position of Fed Chair, Trump is very open-minded. The Fed has fundamental issues. We hope to find someone who can restructure the Fed. If the data is accurate, the Fed may cut rates in June.
▌Total US national debt exceeds $37 trillion for the first time
On August 12 local time, due to the US federal government continuing to accumulate debt at a record pace, the total US national debt exceeded $37 trillion for the first time. The latest data released by the US Treasury shows that by that afternoon, the total US national debt had reached $37,004,817,625,842. Maya MacGuineas, chair of the Committee for a Responsible Federal Budget, stated that the US fiscal situation is severely unbalanced, yet Congress continues to worsen the situation.
▌US Treasury Secretary: The Fed should consider a 50 basis point rate cut in September
US Treasury Secretary Mnuchin: The Fed should consider a 50 basis point rate cut in September.
Golden Encyclopedia
▌How did MicroStrategy's BTC strategy cause its stock price to soar over 1000 times?
Corporate treasury is the financial nerve center of the enterprise, responsible for ensuring liquidity, managing risks, and optimizing returns. Traditionally conservative, they rely on fiat currencies, bonds, and other stable investments. However, MicroStrategy has adopted Bitcoin as its primary reserve, breaking this model. Fund managers aim to achieve a delicate balance between risk and return. Their primary goal is to protect the company's assets from market downturns or liquidity crises while ensuring the best returns on the remaining funds they manage. They should also manage risks during market volatility and stressful conditions. This is where MicroStrategy's incorporation of Bitcoin into its treasury comes into focus, challenging traditional norms with a high-risk, high-reward strategy. Therefore, this bold strategy has not only transformed its balance sheet but also its stock performance, solidifying the company's position as a pioneer in cryptocurrency adoption.
MicroStrategy co-founder and executive chairman Michael Saylor sees Bitcoin as a remedy for legal inflation. He believes that the purchasing power of the dollar is rapidly weakening, while Bitcoin has excellent value retention due to its limited supply. This strategy transformed MicroStrategy into a hybrid of a software company and a cryptocurrency investment tool. MicroStrategy uses financing strategies such as stock issuance, debt financing, free cash flow, and Bitcoin-backed loans to drive its Bitcoin purchases. Its strategy needs to comply with mainstream financial service standards while ensuring it can handle volatile assets like Bitcoin. MicroStrategy's bold Bitcoin acquisition strategy, utilizing convertible notes and dollar-cost averaging, transformed it from a struggling software company into a Bitcoin proxy firm, driving its stock price up over 1,000 times and redefining its market image.
