#update
-Wednesday Market Briefs - 20/08
BTC continues its drop to $113K, altcoins are falling sharply, and the market sentiment index has descended to 44 - a state of “fear” .
President Trump continues to criticize and urge the Fed chairman to cut interest rates ahead of the Jackson Hole symposium .
Early tomorrow morning (1 AM), the Fed will release the minutes from its July FOMC meeting.
📝 Spot ETF Session on 19/08 .
BTC saw a negative flow of -$523.3M, with Fidelity selling -$246.9M along with 5 other parties. BlackRock held still.
ETH had a negative flow of -$422.2M, with Fidelity selling -$156.3M along with 6 other parties, marking the 3rd consecutive negative session.
SOL recorded no transactions.
SEC Chairman Atkins stated that very few tokens are considered securities .
US crypto industry leaders have formed the American Innovation Project (AIP) to lobby and educate policymakers about blockchain, AI, and digital assets .
The state of Wyoming has launched FRNT—the first US stablecoin issued by a public entity, deployed on 7 blockchains .
Bo Hines, a former White House Crypto Council Executive Director, has joined Tether as a Strategic Advisor for Digital Assets
SoFi has become the first US bank to use the Bitcoin and Lightning Network for international transfers, starting in Mexico later this year .
Bullish has completed its $1.15B IPO, becoming the first party in the US to settle an IPO entirely with stablecoins .
🏦 Institutional Holdings:
Sharplink accumulated 143,593 ETH over the past week, bringing its total holdings to 740,760 $ETH (~$3.2B).
Trump-backed company Thumzup will acquire DOGE mining company Dogehash in a $150M all-stock deal.
