Headlines
▌Federal Reserve Governor Bowman: Supports staff holding a small amount of cryptocurrency
Federal Reserve Governor Bowman stated that Federal Reserve staff should be allowed to hold a small amount of crypto products, believing that experience will help them better regulate these financial markets. Bowman stated that relaxing restrictions on employee investments could also help recruit and retain professional bank examiners, and that holding a 'minimal' amount of cryptocurrencies and other digital assets will help employees gain practical understanding of these products. 'Nothing can replace the hands-on experience of understanding the holding and transfer processes of crypto assets,' she stated in a prepared speech at a cryptocurrency conference in Wyoming. Bowman did not disclose specific details about the number or type of holdings she is considering, but her remarks again indicate a friendlier attitude from Trump-era regulators towards the cryptocurrency space.
▌Cryptocurrency lending platform Figure applies to list on NASDAQ
Cryptocurrency lending platform Figure Technology has submitted a Form S-1 registration statement to the U.S. Securities and Exchange Commission (SEC) for its initial public offering (IPO) of Class A common stock. Figure Technology plans to list on NASDAQ under the ticker symbol 'FIGR,' with Goldman Sachs, Bank of America, and Jefferies Financial Group serving as underwriters. The IPO aims to raise between $500 million and $1 billion.
Market
As of the time of writing, according to CoinGecko data:
BTC price is $112,908, 24-hour change -3.0%;
ETH price is $4,107.91, 24-hour change -5.2%;
BNB price is $830.93, 24-hour change -2.6%;
SOL price is $177.91, 24-hour change -3.5%;
DOGE price is $0.211, 24-hour change -5.7%;
XRP price is $2.87, 24-hour change -6.4%.
TRX price is $0.3492, 24-hour change -0.5%.
Policy
▌Federal Reserve Governor Bowman: The Fed's view on AI and cryptocurrency is 'about to change'
Federal Reserve Governor Bowman stated that banks and regulators must embrace the benefits of new technologies like AI and cryptocurrency, or their role in the economy may be diminished. In her speech, she said, 'Change is coming.' She indicated that ideally, regulators would allow new uses to 'surge in a way that benefits the banking system.' 'If that is not our approach, we may face the risk of a declining correlation between the banking system and consumers, businesses, and the overall economy.' Bowman called for the industry to help regulators better understand blockchain and digital assets, as well as the potential of new technologies to address issues like fraud. She also stated that she would seek to reduce regulatory scrutiny associated with reputational risk, hinting at the possibility of new rules being developed.
▌U.S. President Trump: Ukraine will not become a NATO member
U.S. President Trump: Ukraine will not become a NATO member; when Russia occupied Crimea in 2014, Ukraine lost the 'heart and soul' of the nation.
Blockchain Applications
▌Franklin Templeton CEO: Crypto investment should focus on infrastructure rather than Bitcoin
Jenny Johnson, CEO of Franklin Templeton with $1.6 trillion in assets under management, stated at the SALT conference in Jackson Hole, Wyoming, that Bitcoin is a 'fear currency,' which she believes distracts people from the true potential of blockchain. She thinks the most worthwhile investment direction in the crypto space is blockchain infrastructure, including blockchain networks, consumer applications, and node validators. Johnson expects that mutual funds and ETFs will gradually operate on the blockchain in the future, but regulatory risk remains the biggest obstacle to this transformation. She emphasized that for active managers, the transparency provided by validators could be a 'game changer.'
▌Coinbase DEX has supported all assets on the Base chain, with the next step being support for Solana
Coinbase's DEX feature now supports all assets on the Base chain, with support for the Solana ecosystem also in the works and will go live soon.
▌Bullish: Received $1.15 billion in IPO proceeds in the form of stablecoins
The digital asset exchange Bullish, listed on the New York Stock Exchange, officially announced that it has raised $1.15 billion in proceeds from its recently completed coin initial public offering, paid in the form of stablecoins. Bullish stated that the vast majority of stablecoins were minted on the Solana network, with investment bank Jefferies serving as the settlement and delivery agent for the IPO, coordinating the minting, conversion, and delivery processes of stablecoins, and closely collaborating with numerous issuers and platforms in the U.S., Europe, and Asia. The majority of the IPO proceeds were settled in USDC, with some settled in EURC, exclusively held by Coinbase.
▌Polkadot launches an institutional department connecting Wall Street with Web3
According to CoinDesk, the Polkadot network has officially launched Polkadot Capital Group, a new institutional department aimed at connecting traditional finance with blockchain technology. Led by David Sedacca, the team will provide data-driven education and ecosystem resources for asset management companies, banks, and exchanges. The department's business covers physical asset tokenization, staking, DeFi, and trading infrastructure, aiming to help institutional investors understand and participate in the Polkadot network.
▌Tether appoints former White House Crypto Council Executive Director Bo Hines as a strategic advisor
According to market news: Tether, the issuer of USDT, has appointed former White House Crypto Council Executive Director Bo Hines as a strategic advisor for digital assets and U.S. strategy.
Cryptocurrency
▌SkyBridge Capital founder: Maintains the target price for Bitcoin to reach $180,000 to $200,000 by the end of 2025
Anthony Scaramucci, founder and managing partner of SkyBridge Capital, discussed at a CNBC 'Squawk Box' interview about the Wyoming blockchain symposium, the next Federal Reserve chair candidate, the current state of Bitcoin, and views on stablecoins. He stated that the institution still maintains a target price for Bitcoin to reach $180,000 to $200,000 by the end of 2025.
▌Bernstein: The cryptocurrency bull market may extend until 2027
According to The Block, Bernstein analysts released a new research report indicating that the current cryptocurrency bull market cycle may extend until 2027, driven by U.S. policy support and increased participation from institutional investors. Analysts expect the price of Bitcoin to reach the $150,000 to $200,000 range in the next year. The report raised target prices for several cryptocurrency-related listed companies: raised Robinhood's target price to $160, optimistic about its acquisition of the crypto era bringing an institutional user base; set Coinbase's target price at $510, anticipating that its derivatives business expansion will drive growth; maintained Circle's target price at $230, expecting its USDC stablecoin supply to reach $173 billion by 2027.
▌SharpLink: As of August 17, total ETH holdings increased to 740,760
NASDAQ-listed Ethereum treasury company SharpLink Gaming disclosed that it increased its holdings by 143,593 ETH in the week ending August 17, 2025, with an average purchase price of $4,648. As of August 17, the total ETH holdings increased to 740,760. Additionally, since launching its Ethereum treasury strategy on June 2, 2025, the total staking rewards have risen to 1,388 ETH.
▌KindlyMD purchased 5,744 Bitcoin at an average price of $118,204.88
According to market news, KindlyMD, Inc. (NASDAQ: NAKA) announced that it has acquired 5,743.91 Bitcoin through its wholly-owned subsidiary Nakamoto Holdings, making this the first Bitcoin purchase post-merger, bringing the total holdings to 5,764.91 BTC. The company invested approximately $679 million at an average price of $118,204.88 per coin, funded by PIPE financing.
▌LM American Financing Corporation plans to raise $23 million to advance its Bitcoin reserve strategy
LM American Financing Corporation announced plans to raise $23 million in direct investment funds to accelerate the implementation of its Bitcoin reserve strategy. (Zhitong Finance)
▌Thumzup acquires Dogecoin mining company Dogehash Technologies
Donald Trump Jr. announced that Thumzup Media Corporation, a social media company investing in cryptocurrency reserves, has acquired DOGE mining company Dogehash Technologies, with the specific acquisition amount not disclosed. Dogehash will trade on the NASDAQ stock market under the new ticker symbol 'XDOG.' It is reported that the company currently has about 2,500 Scrypt ASIC miners in North America and also mines Scrypt algorithm assets such as Litecoin. Following the completion of the acquisition, it is expected to invest in more equipment later this year.
▌Coinbase will launch Useless Coin (USELESS)
Coinbase will add support for Useless Coin (USELESS) on the Solana network (SPL tokens). If liquidity conditions are met, trading will start on August 20, 2025, at 9 AM Pacific Time or later. Once the supply of this asset is sufficient, USELESS-USD trading pairs will be rolled out in phases. Some jurisdictions may restrict support for USELESS.
Important Economic Dynamics
▌Trump again criticizes Powell, calling for the Federal Reserve to cut interest rates
Trump stated on social media: 'Who can tell 'Mr. Too Late' Jerome Powell that he is seriously harming the real estate industry? Because of him, people can't get mortgages. There is no inflation, and all signs point to a significant rate cut. 'Mr. Too Late' is a disaster!'
▌The probability of the Federal Reserve cutting interest rates in September is 86.1%
According to CME's 'Fed Watch': The probability of the Federal Reserve keeping interest rates unchanged in September is 13.9%, and the probability of a 25 basis point rate cut is 86.1%. The probability of the Federal Reserve keeping rates unchanged in October is 6.5%, the cumulative probability of a 25 basis point rate cut is 47.5%, and the cumulative probability of a 50 basis point rate cut is 46%.
▌The Federal Reserve may accelerate interest rate cuts after Powell's term ends, with tariff costs possibly passed on to consumers.
Monex USA stated that the Federal Reserve may accelerate interest rate cuts after Powell's term ends. At the same time, U.S. companies are likely to pass tariff costs on to consumers. (Jinshi)
▌U.S. Treasury Secretary: Will use tariff revenue to pay off U.S. debt and reduce the deficit-to-GDP ratio
U.S. Treasury Secretary Bessent: Tariff revenue will rise sharply from this year's $300 billion and will be used to pay off U.S. debt and reduce the deficit-to-GDP ratio.
Golden Encyclopedia
▌What are tokenized commodities
Tokenized commodities represent fractional ownership of real-world assets using digital tokens on the blockchain, while retaining their tangible value. Tokenized commodities are digital versions of real-world items (such as gold, oil, or crops) recorded on the blockchain. Each token represents a part of or the whole commodity, making it easier to divide and trade. This simplifies the buying and selling of small portions of commodities for investors, providing more liquidity and opportunities to access markets that are typically difficult to trade. You don't have to purchase the entire commodity (which may be very expensive and impractical), but can instead divide it into smaller pieces called tokens. Each token represents a small part of the commodity. Blockchain technology can help tokenize various commodities, including energy resources, real estate, precious metals, and agricultural products. Commodity-backed cryptocurrencies are designed to be more stable than volatile cryptocurrencies. This stability is achieved by pegging their value to tangible commodities like real estate, gold, or oil. Tokenization of commodities clarifies ownership, enables fractional ownership, simplifies transactions, and facilitates market activity. While the prospects are bright, tokenized commodities also face challenges. The rules are not always clear, as existing regulations may not fully encompass these new frameworks. The technology behind tokenized commodities must undergo proper testing to handle the complexities of creating and trading these tokens.
