Headlines
▌MetaMask may announce details of its own stablecoin mUSD this week, expecting to officially launch by the end of this month
Sources revealed that the well-known Ethereum ecosystem crypto wallet MetaMask plans to announce details of its dollar-pegged stablecoin mUSD as early as this week, expecting to officially launch by the end of this month. mUSD will be issued with the assistance of Bridge, a payment stablecoin service provider acquired by fintech giant Stripe this year, and the stablecoin issuance protocol M^0, while inviting alternative asset management firm 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 benefits of high liquidity assets such as short-term U.S. Treasury bonds.
▌BTC breaks through $123,500, reaching a new all-time high
Market data shows that BTC has broken through $123,500, reaching a new all-time high. It briefly touched $123,536.47, with a 24-hour increase of 3.01%.
Market Data
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 reiterates that rates should be lowered to 1%
U.S. President Trump: The Federal Reserve should lower interest rates. Our rates should drop to 1%.
▌Trump: Seeks long-term takeover of the Washington D.C. police department
On August 13 local time, U.S. President Trump stated during a speech at the Kennedy Center that he would seek long-term federal control over the Washington D.C. police department. Under Section 740 of the D.C. Home Rule Act, unless Congress extends it, Trump's control over the city's law enforcement agency can only last for 30 days. According to ABC News, when asked if he would work with Congress to extend the emergency authorization allowing temporary control of local law enforcement, Trump stated that Congress needs to pass a bill addressing crime that should include an extension of the federal police's control over Washington D.C. for 30 days.
▌Trump: If the 'Trump-Putin' meeting goes well, a tripartite meeting of the U.S., Russia, and Ukraine will take place
According to CCTV news, on August 13 local time, U.S. President Trump stated that if the meeting with Russian President Putin on the 15th goes well, a second meeting will be held soon. Trump mentioned that the second meeting will include Ukrainian President Zelensky. He also stated that if the conflict does not stop, Russia will face consequences. On that day, Trump held a video conference with European leaders and Zelensky. Sources said that Trump discussed potential meeting locations with Zelensky and Putin after the 'Trump-Putin' meeting.
Blockchain Applications
▌Google clarifies that it will not restrict non-custodial crypto wallets
Google previously hinted at plans to ban unregistered non-custodial crypto wallets in multiple countries including the U.S. and the U.K. from October, sparking market criticism. However, the company later clarified on X platform that non-custodial wallets are not within the scope of restrictions and will update the help center to clarify. Google's new policy will take effect on October 29 and mainly targets custodial exchanges and software wallets that need to comply with regulations.
▌The largest U.S. pension fund increases holdings in Coinbase, Palantir, Nvidia, and Robinhood stocks
The largest public pension fund in the U.S. — California Public Employees' Retirement System (CalPERS) has adjusted its investment 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, Palantir and Nvidia increased their stakes 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 has received permission from the New York State to conduct virtual currency business
Coinbase has received a license from the New York State Department of Financial Services to engage in 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 applications.
▌Block plans to issue $1.5 billion in senior bonds
Payment service provider Block announced plans to issue a total of $1.5 billion in senior bonds through a private placement, with funds to be used for corporate operations, including debt repayment, potential acquisitions, and strategic transactions.
▌Bullish raises $1.1 billion in 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 August 13 on the New York Stock Exchange. JPMorgan and Jefferies are acting as co-managers for this offering. Note: Bullish's IPO reportedly received over 20 times oversubscription.
Cryptocurrency
▌The top five entities holding BTC reserves hold a total of 772,359 BTC
According to a post by @BTCTN, the top five entities ranked by Bitcoin (BTC) 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, reaching an all-time high
The value of Bitcoin held by Strategy has risen to $77.2 billion, reaching an all-time 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 a post by @APompliano, ProCap BTC LLC holds 4,950 Bitcoins, which were purchased for approximately $516 million. Based on the current price, the value of these Bitcoins is slightly over $600 million. We will continue to work hard for our shareholders while advancing the proposed business transaction.
▌Total market capitalization of cryptocurrencies surpasses $4.2 trillion
Data shows that the total market capitalization of cryptocurrencies has surpassed $4.2 trillion, currently at $4.221 trillion, with a 24-hour increase of 4.0% and a 24-hour trading volume of $213.918 billion. Currently, BTC's market share is 57.5%, and ETH's market share is 13.5%.
▌If Ethereum hits a new all-time high, short positions worth $1.66 billion will be liquidated
According to a post by @TheCryptoLark, if Ethereum (ETH) hits a new all-time high, short positions worth $1.66 billion will be liquidated. Ethereum is currently only 3% away from its record high.
▌Sharplink Gaming's unrealized profit from LSETH stands at $323 million
According to the latest update from Cointelegraph: Sharplink Gaming's unrealized profit from LSETH stands at $323 million.
▌USDC Treasury has minted 917 million USDC in the past 6 hours
According to Whale Alert monitoring, in the past 6 hours, USDC Treasury has minted a total of 1,425,757,773 USDC in 7 transactions and destroyed 508,334,394 USDC in 4 transactions, resulting in a net increase 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. Trading for the WCT-USD trading pair will be launched in phases. Support for WCT may be restricted in some jurisdictions.
▌Coinbase adds Useless Coin (USELESS) to the roadmap
Coinbase adds Useless Coin (USELESS) on the roadmap for Solana network (SPL tokens).
▌Sign Foundation announces completion of the first $12 million buyback of SIGN tokens
Sign Foundation officially announced the completion of the first $12 million buyback of $SIGN tokens, of which $8 million was repurchased through public markets, totaling 117 million $SIGN repurchased; another $4 million was executed through OTC.
Important Economic Dynamics
▌Federal Reserve's Goolsbee: The independence of the Federal Reserve is important
Federal Reserve's Goolsbee: The independence of the Federal Reserve is important because we do not want inflation to resurface.
▌Federal Reserve's Goolsbee: If inflation is moving towards 2%, it is entirely possible to cut rates early
Federal Reserve's Goolsbee: The Federal Reserve's rate cut meetings will change in real-time. If inflation is deemed to be moving towards the 2% target, it is entirely possible to cut rates early; if information is conflicting, then 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 timing of the cut depends on whether the labor market remains strong.
▌The probability of a 25 basis point rate cut by the Federal Reserve in September is 94.3%
According to CME's 'FedWatch': The probability of the Federal Reserve maintaining interest rates in September is 0%, with a 94.3% probability of a 25 basis point cut and a 5.7% probability of a 50 basis point cut. The probability of maintaining interest rates in October is 0%, with a cumulative probability of a 25 basis point cut at 31.8%, a cumulative probability of a 50 basis point cut at 64.4%, and a cumulative probability of a 75 basis point cut at 3.8%.
Golden Encyclopedia
▌How did MicroStrategy skyrocket its stock price over 1000 times with BTC?
Corporate treasury is the financial nerve center of companies, responsible for ensuring liquidity, managing risk, and optimizing returns. Traditionally conservative, they rely on fiat currencies, bonds, and other stable investments. However, MicroStrategy has adopted Bitcoin as its primary reserve currency, breaking this mold. Fund managers aim to strike a delicate balance between risk and return. Their main goal is to protect the company's assets from market downturns or liquidity crises while ensuring optimal returns on the remaining funds they manage. They should also manage risks during periods of market volatility and stress conditions. This is the focus of MicroStrategy's inclusion of Bitcoin in its treasury, challenging traditional norms and adopting a high-risk, high-reward strategy. Thus, 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 views Bitcoin as an antidote to fiat inflation. He believes that the purchasing power of the dollar is rapidly diminishing, while Bitcoin, due to its limited supply, has excellent value preservation capabilities. 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 norms 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 distressed software company into a Bitcoin proxy company, boosting its stock price over 1,000 times and redefining its market image.
