The US CFTC announces the launch of a new round of 'Crypto Sprint Initiative'.
On August 22, according to an official announcement, Caroline D. Pham, acting chairman of the US Commodity Futures Trading Commission (CFTC), announced that the CFTC will launch a new round of the Crypto Sprint Initiative to implement the recommendations of the President's Digital Asset Market Working Group report. Pham stated that promoting instant trading of digital assets at the federal level is the government's top priority. The CFTC's spot crypto trading listing plan echoes the SEC's Project Crypto, responding to President Trump's call. She emphasized that public feedback will help the CFTC formulate relevant policies regarding leverage, margin, and retail trading. The CFTC is also inviting the industry to submit opinions on the recommendations in the report on 'Strengthening US Leadership in Digital Financial Technology'.
Anti-central bank digital currency provisions have been included in a must-pass defense bill in the US House of Representatives.
On August 22, according to The Block, an anti-central bank digital currency (CBDC) provision has been included in a defense appropriations legislation that is seen as 'must-pass'. This provision was added to the latest version of the House of Representatives' National Defense Authorization Act (NDAA). The newly established chapter in the bill is titled 'Anti-CBDC Surveillance National Act', consistent with a previously proposed bill by House Majority Whip Tom Emmer. Earlier this summer, the House passed Emmer's bill with a vote of 219 to 210, which aims to prohibit the Federal Reserve from directly issuing central bank digital currency to individuals.
The rise of the US stock market masks economic slowdown, with a future recession probability of 35%.
According to a report by Jinshi, Pin Hao pointed out that there is a discrepancy between the performance of the US stock market and the overall economy. Although the S&P 500 index has risen nearly 10% year-to-date, the process has been bumpy, with a roughly 20% pullback in April. The report shows that the annualized growth rate of real consumer spending in the first half of 2025 is 1%, and real GDP growth continues to slow. A Bloomberg survey indicates that the average probability of a US economic recession in the coming year is 35%.
US Department of Justice policy shift: Decentralized software developers will be exempt from specific criminal liabilities.
On August 22, according to Decrypt, a senior official from the US Department of Justice stated on Thursday at Jackson Hole, Wyoming, to a group of cryptocurrency industry lobbyists and leaders, that the US government will no longer charge decentralized software developers with specific criminal offenses. Just earlier this month, federal prosecutors successfully convicted Tornado Cash co-founder Roman Storm for such offenses. This charge stems from Section 1960(b)(1)(C) of the US Code, which states that any operator of an unlicensed money transfer business who engages with known criminal funds or funds intended for illegal activities is guilty of a crime. Just weeks ago, a Manhattan jury found Storm guilty of violating this law, which carries a maximum penalty of five years in federal prison. The jury was unable to reach a verdict on all other charges. At today's Jackson Hole policy summit, Matthew Galeotti, acting head of the Criminal Division of the DOJ, made it clear to attending cryptocurrency industry leaders and lobbyists that federal prosecutors will no longer apply Section 1960(b)(1)(C) charges to decentralized software developers.
A certain ancient giant whale has sold 3,100 BTC and bought 50,522 ETH, leveraging 5 times to go long on 135,000 ETH.
On August 22, according to monitoring by Yujin, a certain whale/institution holding 10,606 BTC for 7 years, profiting $1.12 billion, has now sold 3,100 BTC (worth $348 million) and bought 50,522 ETH spot (worth $213 million). Additionally, they spent $120 million in margin to go long on 135,000 ETH with overall 5x leverage and still hold 7,537 BTC (worth $846 million).
The identity of the first YZY buyer exposed, having profited over $100 million from TRUMP.
On August 22, according to on-chain analysis by Bubblemaps, the first buyer of YZY is Naseem—a trader who spent $1.1 million investing in TRUMP this year and ultimately profited over $100 million. YZY was deployed on-chain on August 17, with the first actual transaction occurring on August 21, when an address starting with AwY1V purchased YZY worth $250,000. Bubblemaps found strong associations between the AwY1V address and previous wallets related to Naseem, including addresses that had previously snatched up Libra and Trump. Based on this evidence, there is reason to believe that the AwY1V address is indeed Naseem's. So far, Naseem has cashed out $800,000 from the first purchase and still holds $600,000 worth of YZY, possibly using other addresses for transactions.
BitMine forwards Arthur Hayes' latest prediction: Ethereum will rise to $20,000 in this cycle.
On August 22, BitMine retweeted a video interview of BitMEX co-founder Arthur Hayes on the X platform, in which he stated that he has repurchased Ethereum (ETH) because 'the charts show that the price will continue to rise', expecting Ethereum to reach $20,000 in this cycle.
A storm before the calm? The world is closely watching Powell's speech at Jackson Hole.
The 2025 Jackson Hole Symposium is highly anticipated, with Federal Reserve Chairman Powell scheduled to speak on August 23, which may affect market expectations for a rate cut in September (currently at 83% probability). Dovish remarks could push the EUR/USD above 1.182, boosting risk assets; a hawkish stance may strengthen the dollar. Technical indicators show market hesitation, and traders should be wary of increased volatility. Powell's statements will set the tone for monetary policy in the second half of the year.
JPMorgan: Four reasons why Ethereum outperforms Bitcoin.
Ethereum has recently outperformed Bitcoin, with JPMorgan analysts attributing this to four key factors: 1) Market expectations for the approval of staking functions for spot Ethereum ETFs; 2) Corporate treasuries increasing their ETH holdings; 3) SEC clarifying and alleviating regulatory concerns regarding liquid staking tokens; 4) The physical redemption mechanism enhancing ETF efficiency and liquidity. Additionally, strong inflows into Ethereum ETFs in July and an increase in corporate ETH holdings indicate significant growth potential in the future.
Linea TGE countdown: A panoramic analysis of technology, ecology, and token economics.
Linea is Ethereum's second-layer network (L2), employing Type 2 zkEVM technology to enhance scalability, developed by ConsenSys and funded with $725 million. It optimizes the user experience by reducing gas fees, introducing native yield mechanisms, and aligning with Ethereum's design, planning to upgrade to Type 1 zkEVM in 2026. Its token distribution allocates 85% to the ecosystem, avoiding VC dominance, and currently, the ecosystem has attracted over 400 projects. Linea aims to strengthen Ethereum, not just expand it.
