Headlines
▌MetaMask plans to announce details of its own USD-pegged stablecoin mUSD this week and is expected to officially launch by the end of this month
Insiders reveal that the well-known Ethereum ecosystem wallet MetaMask plans to announce details of its USD-pegged stablecoin mUSD as early as this week and is expected to officially launch by the end of this month. mUSD will be issued with the assistance of payment stablecoin provider Bridge, acquired by fintech giant Stripe this year, and the stablecoin issuance protocol M^0, while inviting alternative asset management company Blackstone to provide custody and fund management services. MetaMask has over 30 million monthly active users, and the issuance of the stablecoin aims to share the returns of high liquidity assets such as short-term US Treasury bonds.
▌BTC has broken through $123,500, hitting a historical high
Market shows that BTC has broken through $123,500, hitting a historical high. Temporarily reached $123,536.47, with a 24-hour increase of 3.01%.
Market
As of the time of publication, according to CoinGecko data:
BTC price is $123,255, with a 24-hour change of +2.6%;
ETH price is $4,750.40, with a 24-hour change of +3.3%;
BNB price is $847.90, with a 24-hour change of +1.5%;
SOL price is $201.65, with a 24-hour change of +5.1%;
DOGE price is $0.2458, with a 24-hour change of +4.1%;
XRP price is $3.28, with a 24-hour change of +0.5%.
TRX price is $0.3617, with a 24-hour change of +2.8%.
Policy
▌Trump reiterated that interest rates should be cut to 1%
US President Trump: The Federal Reserve should lower interest rates. Our rates should be cut to 1%.
▌Trump: Will seek long-term takeover of the Washington D.C. police force
On August 13 local time, US President Trump stated during a speech at the Kennedy Center that he would seek long-term federal control over the Washington D.C. police force. According to the D.C. Home Rule Act, Trump's control over the city's law enforcement can only last for 30 days unless Congress extends it. According to ABC News, when asked whether he would work with Congress to extend the emergency authorization allowing temporary federal control over local law enforcement, Trump stated that Congress needs to pass a bill addressing crime issues, which should include an extension of the 30-day federal police control over Washington D.C.
▌Trump: If the 'Trump-Putin meeting' goes smoothly, a trilateral meeting between the US, Russia, and Ukraine will be held
According to CCTV news, on August 13 local time, US President Trump stated that if the meeting with Russian President Putin on the 15th goes smoothly, a second meeting will be held soon. Trump mentioned that Ukrainian President Zelensky will participate in the second meeting. Trump also stated that Russia will face consequences if the conflict does not stop. On that day, Trump held a video conference with European leaders and Zelensky. Insiders said Trump discussed the potential locations for meetings with Zelensky and Putin after the 'Trump-Putin meeting'.
Blockchain Applications
▌Google clarifies it will not restrict non-custodial crypto wallets
Google previously seemed to plan to ban unregistered non-custodial crypto wallets in multiple countries, including the US and the UK, starting in October, as announced in its Google Play (cryptocurrency exchange and software wallet policy) statement, leading to market criticism. However, the company later clarified on the X platform that non-custodial wallets are not within its restrictions and will update the help center to clarify. Google’s new policy will take effect on October 29, primarily targeting custodial exchanges and software wallets that need to comply with regulations.
▌The largest pension fund in the US increases holdings in Coinbase, Palantir, Nvidia, and Robinhood stocks
The largest public pension fund in the US, the California Public Employees' Retirement System (CalPERS), adjusted its portfolio in the second quarter of 2025, increasing its holdings in Coinbase, Palantir, Nvidia, and Robinhood stocks. Among them, Coinbase's shares increased to 332,791 shares, Palantir and Nvidia increased by about 10%, and Robinhood increased to 1,261,185 shares. This move reflects its strategic layout in emerging fields such as cryptocurrency, artificial intelligence, and digital brokerage.
▌Coinbase obtains New York State license to conduct virtual currency business
Coinbase has obtained a license from the New York State Department of Financial Services to conduct virtual currency business activities. New York residents can now send and receive USDC on the Base network through the Coinbase website and the Coinbase iOS and Android apps.
▌Block plans to issue $1.5 billion in senior bonds
Payment service provider Block announced plans to issue $1.5 billion in senior bonds through a private placement, with the funds to be used for corporate operations, including debt repayment, potential acquisitions, and strategic transactions.
▌Bullish raised $1.1 billion in its IPO
According to a statement from Bullish's official website, the company has priced its expanded initial public offering (IPO) at $37 per share, issuing 30 million shares of common stock. The stock is expected to begin trading on the New York Stock Exchange on August 13. JPMorgan and Jefferies are serving as co-lead underwriters for this offering. Note: Bullish Group's IPO has reportedly received more than 20 times oversubscription.
Cryptocurrency
▌BTC held by the top five Bitcoin reserve entities, totaling 772,359 BTC
According to a post by @BTCTN, the top five Bitcoin reserve entities by Bitcoin holdings hold a total of 772,359 BTC. The top 100 entities hold a total of 951,323 BTC.
▌The value of Bitcoin held by Strategy has risen to $77.2 billion, a historic high
The value of Bitcoin held by Strategy has risen to $77.2 billion, a historic high.
▌Canary TRUMP ETF has been registered in Delaware
According to market news, the Canary TRUMP COIN ETF has been registered in Delaware, USA.
▌ProCap BTC LLC holds 4,950 Bitcoins
According to @APompliano's post, ProCap BTC LLC holds 4,950 Bitcoins, which cost approximately $516 million to acquire. At current prices, the value of the Bitcoins held now slightly exceeds $600 million. We will continue to work for our shareholders while advancing the proposed business transaction.
▌Total cryptocurrency market capitalization surpasses $4.2 trillion
Data shows that the total cryptocurrency market capitalization has exceeded $4.2 trillion, currently at $4.221 trillion, with a 24-hour increase of 4.0% and a 24-hour trading volume of $213.0918 billion. Currently, BTC's market share is 57.5%, and ETH's market share is 13.5%.
▌If Ethereum hits a historical high, $1.66 billion in short positions will be liquidated
According to a post by @TheCryptoLark, if Ethereum (ETH) hits a historical high, $1.66 billion in short positions will be liquidated. Ethereum is currently just 3% away from hitting a historical high.
▌Sharplink Gaming's unrealized profit on LSETH is $323 million
According to the latest update from Cointelegraph: Sharplink Gaming's unrealized profit on LSETH is $323 million.
▌USDC Treasury has minted 917 million USDC in the past 6 hours
According to Whale Alert monitoring, in the past 6 hours, the USDC Treasury has minted a total of 1,425,757,773 USDC in 7 transactions, and has burned a total of 508,334,394 USDC in 4 transactions, resulting in a net minting of 917,423,379 USDC.
▌Coinbase will launch WalletConnect (WCT)
Coinbase will add support for WalletConnect tokens (WCT) on the Optimism network. If liquidity conditions are met, trading will begin on August 14, 2025, at 9 AM Pacific Time or later. WCT-USD trading pairs will be launched in phases. Support for WCT may be limited in some jurisdictions.
▌Coinbase will add Useless Coin (USELESS) to its listing roadmap
Coinbase will add Useless Coin (USELESS) on the Solana network (SPL tokens) to its listing roadmap.
▌The Sign Foundation announces the completion of the first $12 million SIGN token buyback
The Sign Foundation officially announced it has completed the first buyback of $SIGN tokens worth $12 million, of which $8 million was repurchased through the secondary market, having repurchased a total of 117 million $SIGN; an additional $4 million was executed through OTC.
Important economic dynamics
▌Federal Reserve's Goolsbee: The independence of the Fed is important
Federal Reserve's Goolsbee: The independence of the Fed is important because we do not want inflation to come back.
▌Federal Reserve's Goolsbee: If inflation is moving towards 2%, it is entirely possible to cut rates earlier
Federal Reserve's Goolsbee: The Fed's interest rate cut meetings will change in real time. If inflation is moving towards the 2% target, it is entirely possible to cut rates earlier; if the information is contradictory, then it will stop or raise rates.
▌Federal Reserve's Bostic: A rate cut in 2025 is still appropriate
Federal Reserve's Bostic: A rate cut in 2025 is still appropriate, and the single rate cut depends on whether the labor market remains robust.
▌The probability of the Federal Reserve cutting rates by 25 basis points in September is 94.3%
According to CME's 'Fed Watch': The probability of the Federal Reserve maintaining interest rates in September is 0%, the probability of cutting rates by 25 basis points is 94.3%, and the probability of cutting rates by 50 basis points is 5.7%. The probability of the Federal Reserve maintaining interest rates in October is 0%, the cumulative probability of cutting rates by 25 basis points is 31.8%, the cumulative probability of cutting rates by 50 basis points is 64.4%, and the cumulative probability of cutting rates by 75 basis points is 3.8%.
Golden Encyclopedia
▌How did MicroStrategy make its stock price soar over 1,000 times with BTC?
Corporate treasuries are the financial nerve center of corporations, responsible for ensuring liquidity, managing risk, and optimizing returns. They have traditionally been conservative, relying on fiat currencies, bonds, and other stable investments. However, MicroStrategy has adopted Bitcoin as its primary funding reserve, breaking this mold. The goal of fund managers is to achieve a delicate balance between risk and return. Their main objective is to protect the company’s assets from market downturns or liquidity crises while ensuring the best return on the remaining company funds they manage. They must also manage risks during periods of market volatility and stress conditions. This is where MicroStrategy's incorporation of Bitcoin into its treasury challenges traditional norms, adopting a high-risk, high-reward strategy. Thus, this bold strategy not only changed its balance sheet but also altered its stock performance, solidifying the company's position as a pioneer in cryptocurrency adoption.
MicroStrategy co-founder and executive chairman Michael Saylor views Bitcoin as an antidote to fiat inflation. He believes the purchasing power of the dollar is rapidly weakening, while Bitcoin has excellent value retention capabilities due to its limited supply. This strategy has transformed MicroStrategy into a hybrid of a software company and a cryptocurrency investment tool. MicroStrategy utilizes 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 regulations while ensuring it can handle volatile assets like Bitcoin. MicroStrategy's bold Bitcoin acquisition strategy, utilizing convertible notes and dollar-cost averaging, has transformed it from a struggling software company into a Bitcoin proxy, pushing its stock price up over 1,000 times and redefining its market image.
