Compiled by: Nona
Fear and Greed Index: 63 (Greed)
Bitcoin Price: $120,035
BTC/ETH Spot ETF Fund Flow (last 8/12)
BTC Net Inflow: $65.95 M
ETH Net Inflow: $523.92 M
Regulation/Macro
The National Bank of Belarus drafts rules to support cryptocurrency payments.
The National Bank of Belarus has prepared a series of government decisions aimed at making it easier for individuals and businesses to use cryptocurrencies. Belarusian Prime Minister Roman Golovchenko stated after reporting to President Alexander Lukashenko that they have put forward specific proposals to incorporate cryptocurrencies and digital financial assets into financial policy. These proposals have received preliminary support from the president, and specific regulatory drafts are ready.
The global cryptocurrency market capitalization has surpassed $4.1 trillion, setting a new historical high.
CoinGecko data shows that the global cryptocurrency market capitalization has exceeded $4.1 trillion, currently reported at $4,124,984,759,211, setting a new historical high, with a 24-hour increase of 2.1%.
Trump again calls for Powell to cut interest rates immediately and considers advancing lawsuits against Powell.
U.S. President Trump posted on social media demanding Federal Reserve Chairman Powell to cut interest rates immediately and accusing him of 'always acting too late.' Trump stated he is considering allowing lawsuits against Powell to proceed. According to Politico, Trump's officials are considering appointing Federal Reserve Vice Chairman Jefferson as the Federal Reserve Chairman.
Project/Company Updates
Ethereum Fusaka mainnet is expected to launch on November 5.
During the 162nd meeting of the Ethereum Consensus Layer Core Developers Conference (ACDC), Ethereum developers tentatively set the launch date of the Ethereum Fusaka mainnet for November 5.
Bullish raised $1.1 billion through IPO, heavily oversubscribed by more than 20 times.
Digital asset trading platform Bullish raised $1.1 billion through an IPO at an issuance price of $37 per share. The IPO was oversubscribed by more than 20 times, reaching a market value of $5.4 billion. BlackRock and ARK Investment Management intend to collectively subscribe for $200 million in shares. Bullish is led by former NYSE president Tom Farley as CEO, primarily serving institutional clients, with the largest shareholder being Block.one CEO Brendan Blumer (holding 30.1%). The company will list on the NYSE under the ticker BLSH.
OKX will permanently destroy approximately 65.26 million OKB, fixing the total supply of OKB at 21 million.
OKX will destroy 65,256,712.097 OKB from historical buybacks and reserves in one go at 14:00 on August 15 Hong Kong time, and will automatically destroy all OKB transferred to the black hole address via smart contracts. After this operation, manual destruction of OKB will cease, and the total supply of OKB will be fixed at 21 million. Additionally, the X Layer has completed the PP upgrade and is fully integrated with the latest version of Polygon CDK (formerly zkEVM). The X Layer team will phase out technical maintenance and circulation support for OKTChain. OKT is no longer trading on the OKX exchange.
Eden Network has ceased operations, and the 2000 Ethereum held will be distributed to EDEN holders.
Eden Network announced that 'Archer DAO was established in 2020 to create new revenue streams for Ethereum miners by realizing MEV (Miner Extractable Value) profits. In July 2021, the Archer DAO community upgraded the project through a governance proposal and renamed it to Eden Network. Due to fierce competition in the MEV space and high operational costs, after careful consideration and consultation with community members, Eden Network announced its closure. Eden RPC, Eden Bundles, Mempool Stream, and other products will cease services immediately. Eden Network currently holds 2000 Ethereum, which will be distributed to EDEN holders at a fixed exchange rate of 0.00001506 ETH/EDEN, redeemable from today until September 30 at 23:59 (UTC), limited to non-U.S. residents. Users with unstaked tokens are advised to redeem and unstake in a timely manner, with remaining funds used for company liquidation.'
Kazakhstan fund management company Fonte Capital launched Central Asia's first spot Bitcoin ETF 'BETF'.
Kazakhstan fund management company Fonte Capital has launched Central Asia's first spot Bitcoin ETF 'BETF' on the Astana International Exchange (AIX). This ETF is custodied by BitGo, supports physical Bitcoin holdings, and provides investors with insurance coverage of up to $250 million. BETF is priced in USD and allows for physical settlement, aimed at reducing tracking errors and costs. The product is regulated by the Astana International Financial Centre (AIFC) and is open to Central Asian and international investors, who do not need to manage private keys or use cryptocurrency exchanges to participate.
Pantera Capital disclosed that it has invested over $300 million in digital asset trust companies.
Pantera Capital disclosed that it has invested over $300 million in Digital Asset Trust (DAT) companies. These companies hold significant amounts of crypto assets and enhance the per-share token holding through revenue strategies. BitMine Immersion, as a key holding of Pantera, has become the third-largest DAT company globally after launching its Ethereum treasury strategy, holding 1.15 million ETH with a market value of approximately $4.9 billion. Pantera noted that BitMine's first month saw an approximate 330% increase in per-share ETH, primarily from ultra-net issuance and staking rewards.
Circle and its shareholders plan to sell 10 million shares of stock, totaling approximately $1.63 billion.
The issuer of the stablecoin USDC, Circle Internet Group, and its shareholders plan to sell a total of 10 million shares. According to documents submitted to the U.S. Securities and Exchange Commission, Circle will sell 2 million shares, and shareholders, including co-founder and CEO Jeremy Allaire, will sell 8 million shares. Based on Tuesday's closing price of $163.21, the total amount of this stock issuance is approximately $1.63 billion. Documents show that this issuance is led by JPMorgan, Citigroup, and Goldman Sachs.
Terraform Labs founder Do Kwon will plead guilty to two counts of conspiracy fraud and wire fraud.
A U.S. court judge stated during a hearing that Terraform Labs founder Do Kwon will plead guilty to two counts of conspiracy fraud and wire fraud and agrees to forfeit $19.3 million and certain properties, related to a cryptocurrency collapse event worth over $40 billion.
BitMine plans to issue an additional $20 billion in common stock to purchase more Ethereum.
BitMine submitted a supplemental document to the SEC, planning to add an additional $20 billion common stock 'marketable' issuance authority on top of the previous $2 billion and $2.5 billion issuance limits, raising the total scale to $24.5 billion to support more Ethereum purchases. The document shows that the company had previously sold approximately $4.5 billion in stock as planned.
Depth & Outlook
Qubic 'peaceful takeover' of Monero 51% hash power: just to prove, not to attack.
This is a carefully designed proof that demonstrates that as long as sufficiently attractive economic incentives are provided, miners will voluntarily 'turn.' This is not just the story of Monero. It is a warning to all PoW networks.
Uniswap proposed to establish a DUNA entity, and the DAO compliance process has once again embarked on an exploratory phase.
Amid the cooling of DeFi, Uniswap plans to clear obstacles for its fee switch through a compliant 'big chess move.' Can DUNA leverage this to push DAO compliance into a new phase?
Perspective
Ethereum aims for a new high. Is it purely institutional buying power or ecological recovery?
After 3 years and 8 months, Ethereum returns to $4,400, aiming for a new high. Is it purely institutional buying power or ecological recovery?
Ethereum treasury companies: 'Disruptors' or 'Builders' of the on-chain ecosystem?
The rapid rise of enterprise Ethereum treasuries reflects the appeal of Ethereum as a reserve asset and on-chain revenue source. Its growing influence may increase liquidity and active network activity, but it also comes with risks related to leverage, financing, and capital management.
