Organized by: Nona
Fear and Greed Index: 50 (Greed)
Bitcoin Price: $113,447
BTC/ETH Spot ETF Fund Flow (8.20)
BTC Net Outflow: $311.57 M
ETH Net Outflow: $240.14 M
Regulation/Macro
Brazil holds its first public hearing on the strategic Bitcoin reserve proposal.
The Brazilian House of Representatives held its first public hearing on the proposal to establish a national 'strategic Bitcoin reserve.' The hearing was organized by the Economic Development Committee, focusing on the bill No. 4501/2024 proposed by Congressman Eros Biondini.
British police are investigating a case of impersonating law enforcement to steal Bitcoin, involving approximately $2.8 million.
The North Wales Police Cyber Crime Unit is investigating a case of impersonating law enforcement to steal Bitcoin. Previously, a scammer impersonated a senior police officer and stole Bitcoin worth £2.1 million (approximately $2.8 million) from the victim. Police added that the victim may have been identified in a data breach incident, making this case a 'highly targeted and complex fraud.'
New York State Assemblyman: There will be no modifications to the proposed cryptocurrency tax to accommodate the use of stablecoins in everyday payments.
New York State Assemblyman Phil Steck stated that his proposed 0.2% sales tax on cryptocurrency transactions will not be modified to accommodate the use of stablecoins in everyday payments. 'If you buy cryptocurrency to use it as currency, I don't think it should be exempt from sales tax. Frankly, I don't see how cryptocurrency can replace dollar bills in everyday transactions.'
Hong Kong Stock Exchange Group CEO: The Hong Kong Stock Exchange will study the 24-hour trading mechanism.
At the Hong Kong Stock Exchange's mid-year performance meeting in 2025, CEO Charles Li stated, 'The Hong Kong Stock Exchange has always adhered to the principle of strategic investment to maintain global competitiveness. The Exchange will not skimp on capital expenditures, and we will continue to increase our investments in optimizing data platforms, upgrading trading settlement systems, and so on.' Additionally, Charles Li addressed the hot topic of extending trading hours. 'Regarding the extension of trading hours, we note that Nasdaq plans to implement a 24-hour trading mechanism five days a week in the second half of 2026. The Hong Kong Stock Exchange will adhere to a prudent and gradual approach, fully drawing on the experiences of international peers while considering the actual situation of the local market for research. This process needs to wait until the trading system is upgraded, the risk management system is improved, and the regulatory framework is fully mature before it can be gradually refined.'
The Hong Kong Securities and Futures Commission and the Monetary Authority will jointly host the Hong Kong Fixed Income and Currency Forum on September 25.
The Hong Kong Securities and Futures Commission and the Monetary Authority will jointly host the Hong Kong Fixed Income and Currency Forum 2025 on September 25. As Asia's leading international bond issuance center and the world's fourth-largest foreign exchange market, Hong Kong is actively exploring ways to consolidate and enhance its position in the fixed income and currency markets. This forum aims to provide a platform for participants in the fixed income and currency markets, senior executives from key financial institutions, senior government officials, and regulators to exchange strategic insights and visions for the development of Hong Kong's fixed income and currency markets, share views on Hong Kong's policies in this area, and discuss the latest developments in the Asia-Pacific fixed income and currency markets.
Project/Company Updates
Hong Kong Stock Exchange: Committed to improving market efficiency, but extending trading hours requires caution.
At the Hong Kong Stock Exchange's mid-year performance meeting in 2025, some market participants suggested extending trading hours, and the response from CEO Charles Li was misunderstood by some as 'the Hong Kong Stock Exchange is studying a 24-hour trading mechanism.' On August 21, it was learned from the Hong Kong Stock Exchange that Charles Li stated that the Exchange has always been committed to providing more convenience for investors and is open to all relevant suggestions. However, extending trading hours has a significant overall impact on the market, presents many challenges, and requires great caution, as well as the need to consult all market participants. For example, if something goes wrong, there are still a few hours to fix the problem; if there is 24-hour non-stop trading, there is no room for error.
TRM Labs establishes the Beacon Network to track and freeze illegal funds on the blockchain.
TRM Labs announced the establishment of the Beacon Network to track and freeze illegal funds on the blockchain. Under the Beacon Network framework, verified members can tag wallet addresses suspected of financial crimes, track the flow of funds on the blockchain, and share information with related services and law enforcement agencies.
MicroBit's Bitcoin and Ethereum spot ETF is officially listed.
The virtual asset investment management company MicroBit's Bitcoin and Ethereum ETFs were listed today, priced in both HKD and USD, with a management fee set at 0.5%. Additionally, MicroBit's Ethereum spot ETF will stake up to 30% of its investment portfolio in Ethereum to earn staking rewards.
The Ethereum Foundation has launched the second phase of the 'Trillion Dollar Security' plan, focusing on improving wallet experience.
The Ethereum Foundation announced the launch of the second phase of the 'Trillion Dollar Security' plan, focusing on improving wallet experience. This plan involves enhancing wallet security, addressing blind signing issues, and establishing a vulnerability database to prevent smart contract vulnerabilities.
Boya Interactive plans to raise up to HK$441 million through a share placement, with proceeds to be used for Web3 business development and more.
Boya Interactive announced it has entered into a placement agreement with placement agents, proposing to place up to 63,510,000 new shares at a placement price of HK$6.95 per share. The placement shares account for 8.93% of the total issued shares or approximately 8.20% of the total issued shares after expansion. The maximum total amount from the placement will be HK$441 million, with a net amount estimated at approximately HK$436 million, which will be used for business development in the Web3 field, including Web3 game research and promotion, infrastructure construction, project investment, and strategic cooperation, as well as for the group's operating capital and general corporate purposes.
Kanye West: The official token has been released.
The well-known American rapper Kanye West X account released a video in which Kanye West appeared and stated, 'The official token has been released.' Previously, the Kanye West X account announced the launch of token YZY. In February of this year, it was reported that Kanye West allegedly sold the publishing rights of the X account, which he later denied.
Goldman Sachs: The stablecoin market is entering a new expansion cycle with a potential size of several trillion dollars.
The stablecoin market is entering a new expansion cycle, with potential scale reaching several trillion dollars. Analysts point out that, in the long term, the payment sector will be the core driver for the expansion of stablecoins' total addressable market (TAM). Although current stablecoin applications are still dominated by cryptocurrency trading and offshore dollar demand, the penetration potential in payment scenarios has not been fully developed.
Hong Kong Ming Cheng Group plans to invest $483 million to purchase 4,250 Bitcoins.
Hong Kong Ming Cheng Group announced it has signed a Bitcoin purchase agreement and will invest $483 million to purchase 4,250 Bitcoins.
In-depth & Preview
Kanye meme's market value surpasses $3 billion, reported to be involved in insider trading.
The apparent 'fair issuance of tokens' on the project surface is, in reality, manipulated by capital and information asymmetry. Just like previous star token launches, it has become a race for retail investors. If we look at Kanye's past methods, we won't be surprised by these operations.
Disrupting the Price Conundrum: Where Does the Lasting Value of Blockchain Come From?
Speculation will find its outlet; the market exists for this purpose. As builders, investors, and policymakers, our responsibility is to ensure that there is real, legal, and scalable support behind speculation.
Viewpoint
Cryptocurrency market prices have been declining for days, with weak rebounds. What other catalysts are left in the market?
In contrast to the institutions leading the buying frenzy, the 'retail speculators' who were the main force in the last cycle have not yet fully entered the market. Taking Ethereum as an example, despite its price approaching an all-time high, there has not been a situation intense enough to cause congestion in this bull market, with on-chain activity remaining tepid, and trading volume and DeFi data not reaching new peaks.
Trump's 'Pension Magic Box': How will the $8.7 trillion 401(k) leverage the crypto world?
One of the biggest challenges for the cryptocurrency industry has always been 'outreach'—how to get the mainstream public, especially those with substantial wealth but conservative views, to accept and allocate crypto assets. This reform can be seen as a top-down 'national-level' market education.
