Headlines
▌Federal Reserve Governor Bowman: Supports Federal Reserve staff holding a small amount of cryptocurrency.
Federal Reserve Governor Bowman stated that staff should be allowed to hold a small amount of cryptocurrency 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 'minimum' holdings of cryptocurrencies and other digital assets would help staff have a practical understanding of these products. 'Nothing can replace hands-on experience and understanding the processes of holding and transferring crypto assets,' she stated in a prepared speech at a cryptocurrency conference in Wyoming. Bowman did not disclose specific information about the number or type of holdings she is considering, but her remarks again indicate that the Trump administration's regulatory stance towards the cryptocurrency sector is becoming more friendly.
▌Cryptocurrency lending platform Figure applies for Nasdaq listing.
Cryptocurrency lending platform Figure Technology has submitted 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 stock code 'FIGR', with Goldman Sachs, Bank of America, and Jefferies Financial Group serving as underwriters. The IPO aims to raise $500 million to $1 billion.
Market News
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 Federal Reserve's view on artificial intelligence and cryptocurrency is 'about to change.'
Federal Reserve Governor Bowman stated that banks and regulators must embrace the benefits of new technologies such as artificial intelligence and cryptocurrency, or their role in the economy may be weakened. 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 we do not act in this way, we may face the risk of declining relevance of the banking system to consumers, businesses, and the overall economy.' Bowman called on 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 related to reputational risk, hinting at the possibility of new rules.
▌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 its country's 'heart and soul.'
Blockchain Applications
▌Franklin Templeton CEO: Crypto investments should focus on infrastructure rather than Bitcoin.
Jenny Johnson, CEO of Franklin Templeton, which manages $1.6 trillion in assets, stated at the SALT conference in Jackson Hole, Wyoming, that Bitcoin is a 'fear currency' and, in her view, it distracts attention from the true potential of blockchain. She believes that 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 blockchain in the future, but regulatory risk remains the biggest obstacle to this transformation. She emphasized that for active investment managers, the transparency provided by validators could bring about a 'game-changing' effect.
▌Coinbase DEX has supported all assets on the Base chain, and the next step will support Solana.
Coinbase's DEX feature has supported all assets on the Base chain, and support for the Solana ecosystem is also planned to be launched 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 from its recently completed initial public offering in the form of stablecoins. Bullish stated that the vast majority of stablecoins were minted on the Solana network, with investment bank Jefferies coordinating the minting, conversion, and delivery process for stablecoins as the settlement and delivery agent for the IPO, working closely with numerous issuers and platforms in the U.S., Europe, and Asia. The proceeds from the IPO were settled largely in USDC, with some settled in EURC, and held exclusively by Coinbase.
▌Polkadot launched an institutional division to connect Wall Street with Web3.
According to CoinDesk, the Polkadot network officially launched Polkadot Capital Group, a new institutional division aimed at connecting traditional finance with blockchain technology. The team led by David Sedacca will provide data-driven education and ecosystem resources for asset management firms, banks, and exchanges. The division's business covers physical asset tokenization, staking, DeFi, and trading infrastructure, dedicated to helping institutional investors understand and participate in the Polkadot network.
▌Tether appointed former White House Crypto Council Executive Director Bo Hines as a strategic advisor.
According to market news: Tether, the issuer of USDT, 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 the Wyoming blockchain seminar, the next Federal Reserve chair candidate, the current state of Bitcoin, and views on stablecoins in an interview with CNBC's 'Squawk Box'. He stated that the institution still maintains the target price for Bitcoin to reach $180,000 to $200,000 by the end of 2025.
▌Bernstein: Cryptocurrency bull market may continue until 2027.
According to The Block, Bernstein analysts released a new research report indicating that the current cryptocurrency bull market cycle, supported by U.S. policies and increased institutional investor participation, may continue until 2027. Analysts estimate that the price of Bitcoin will reach the range of $150,000 to $200,000 in the next year. The report raised target prices for several cryptocurrency-related listed companies: it raised Robinhood's target price to $160, optimistic about the institutional user base brought by its acquisition of Bit时代; it set Coinbase's Bitcoin stock target price at $510, anticipating that its derivatives business expansion will drive growth; it maintains Circle's target price at $230, expecting its USDC stablecoin supply to reach $173 billion by 2027.
▌SharpLink: As of August 17, the total ETH holdings increased to 740,760 coins.
Nasdaq-listed Ethereum treasury company SharpLink Gaming disclosed that as of the week ending August 17, 2025, it had increased its holdings by 143,593 ETH, with an average purchase price of $4,648. As of August 17, the total ETH holdings increased to 740,760 coins. In addition, since launching its Ethereum treasury strategy on June 2, 2025, the total staking rewards have increased to 1,388 ETH.
▌KindlyMD purchased 5,744 Bitcoins at an average price of $118,204.88.
According to market news, KindlyMD, Inc. (Nasdaq: NAKA) announced the acquisition of 5,743.91 Bitcoins through its wholly-owned subsidiary Nakamoto Holdings. This is the first Bitcoin purchase after the 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, with funds sourced from PIPE financing.
▌LM American Finance Corporation plans to raise $23 million to promote its Bitcoin reserve strategy.
LM American Finance Corporation announced plans to raise $23 million in direct investment funds to accelerate the implementation of its Bitcoin reserve strategy. (Zhitong Finance)
▌Thumzup acquired the Dogecoin mining company Dogehash Technologies.
Donald Trump Jr. announced that Thumzup Media Corporation, a social media company that holds cryptocurrency reserves, has acquired the DOGE mining company Dogehash Technologies. The specific acquisition amount has not been disclosed, and Dogehash will trade on the Nasdaq stock market under the new stock code 'XDOG'. It is reported that the company currently has about 2,500 Scrypt ASIC miners in North America and is also mining Scrypt algorithm assets such as Litecoin. After the acquisition transaction is completed, it is expected to deploy 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 begin on August 20, 2025, at or after 9 AM Pacific Time. 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, demanding the Federal Reserve cut interest rates.
Trump stated on social media: 'Who can tell 'Mr. Too Late' Jerome Powell that he is severely harming the real estate industry? Because of him, people cannot get mortgages. There is no inflation; all signs indicate 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 'Fed Watch': The probability of the Federal Reserve maintaining interest rates in September is 13.9%, while the probability of a 25 basis point rate cut is 86.1%. The probability of the Federal Reserve maintaining interest rates in October is 6.5%, while 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 rate cuts after Powell's term ends; tariff costs may be passed on to consumers.
Monex USA stated that the Federal Reserve may accelerate rate cuts after Powell's term ends. At the same time, U.S. companies are likely to pass on tariff costs to consumers. (Jinshi)
▌U.S. Treasury Secretary: Will use customs revenue to repay U.S. debt and reduce deficit-to-GDP ratio.
U.S. Treasury Secretary Basant: Customs revenue will significantly increase from this year's $300 billion, which will be used to repay U.S. debt and reduce the deficit-to-GDP ratio.
Golden Encyclopedia
▌What is tokenized goods?
Tokenized goods represent partial ownership of real-world assets using digital tokens on the blockchain while retaining their tangible value. Tokenized goods are digital versions of real-world items (such as gold, oil, or crops) recorded on the blockchain. Each token represents a part or the whole of the good, making it easier to split and trade. This simplifies buying and selling small portions of goods for investors, providing more liquidity and offering access to markets that are usually difficult to trade. You don't have to buy the entire good (which can be very expensive and impractical), but rather break it down into small pieces called tokens. Each token represents a small part of the good. Blockchain technology can help tokenize various goods, 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 goods such as real estate, gold, or oil. The tokenization of goods clarifies ownership, enables partial ownership, simplifies transactions, and facilitates market activity. While the prospects are bright, tokenized goods also face challenges. The rules are not always clear, as existing regulations may not fully cover them. The technology behind tokenized goods must be adequately tested to handle the complexities of creating and trading these tokens.
