Author | Wu Says Blockchain
Top 10 news this week
1. The number of initial jobless claims in the US for the week ending August 16 was 235,000, expected 225,000 link
The number of initial jobless claims in the US for the week ending August 16 was 235,000, expected 225,000, and the previous value was 224,000. Last week, initial jobless claims recorded the largest increase in nearly three months, indicating that layoffs may be increasing, further exacerbating signs of a weakening labor market. The Labor Department stated that for the week ending August 16, seasonally adjusted initial jobless claims increased by 11,000 to 235,000, the largest increase since the end of May.
2. US SEC once again delays approval of Truth Social and several crypto ETFs link
The US SEC has postponed its decision on the Truth Social Bitcoin and Ethereum ETFs to October 8 and has routinely delayed the approval of CoinShares Litecoin ETF, CoinShares XRP ETF, and 21Shares Core XRP ETF this week. The related XRP trust and 21Shares Core Ethereum ETF staking proposals have also been delayed. The SEC stated it needs more time to review the related rule changes and issues involved.
3. US SEC Chair: Only a "very small number" of crypto tokens can be recognized as securities link
Paul Atkins, chair of the US Securities and Exchange Commission (SEC), stated at the Wyoming Blockchain Summit that only a "very small number" of crypto tokens can be recognized as securities and emphasized that tokens themselves typically do not constitute securities. He pointed out that the SEC will promote the modernization of securities laws through the "Project Crypto" initiative, gradually bringing the US financial market on-chain. Atkins emphasized that regulation should embrace innovation and proposed the need to build a long-term framework that can "prevent regulatory interference."
4. US Department of Justice: Truly decentralized projects without third-party control will no longer be subject to 1960(b)(1)(c) charges link
Matt Galeotti, acting assistant attorney general of the US Department of Justice, stated at Jackson Hole that if software systems possess true decentralized characteristics, are fully automated and peer-to-peer, and have no third party controlling user assets, even in the presence of criminal intent, the Department of Justice will no longer bring charges against third parties under (1960 clause) section (b)(1)(c) in the future. This clause was previously used to charge Tornado Cash developer Roman Storm. Galeotti also stated that well-meaning innovators need not worry about losing their freedom.
5. Federal Reserve Board member Bowman: Regulators must adopt AI and cryptocurrency technologies to avoid marginalization link
Michelle Bowman, a member of the US Federal Reserve Board, stated at the Wyoming Blockchain Symposium that banks and regulators may face the risk of losing their position in the financial system if they do not actively adopt emerging technologies such as artificial intelligence and cryptocurrency. She called for the industry to assist regulators in gaining a more comprehensive understanding of blockchain and digital assets and to explore their potential applications in combating fraud and other issues. Bowman also stated that she will promote the reduction of regulatory scrutiny related to "reputational risk" and is committed to changing the culture and attitudes of regulatory agencies regarding technology adoption and product integration.
6. Australia orders an audit of Binance's local operations link
The Australian Transaction Reports and Analysis Centre (AUSTRAC) has ordered an audit of Binance Australia due to serious issues with its anti-money laundering (AML) and counter-terrorism financing (CTF) controls. AUSTRAC pointed out that Binance's recent independent review scope was insufficient, and there were issues such as high employee turnover, lack of local resources, and management oversight, questioning its compliance governance level. Binance Australia must nominate an external audit firm within 28 days for AUSTRAC's review and selection.
Binance Australia stated that it understands and respects AUSTRAC's decision to appoint an external auditor for an independent review of its anti-money laundering program, emphasizing that this is a regulatory review measure rather than an enforcement action. Currently, Binance has over 1,200 compliance personnel globally, accounting for nearly 22%, and compliance spending is expected to increase by 33% this year.
7. Affluent families in Asia increase cryptocurrency investments, with allocation ratios potentially reaching 5% of their portfolios link
Affluent families and family offices in Asia are increasing their investments in cryptocurrencies, driven by bullish sentiment towards digital assets, increased mainstream applications, and favorable regulation emerging in key markets, especially the US and Hong Kong. UBS stated that some overseas Chinese family offices plan to raise their cryptocurrency exposure to about 5% of their portfolios. Wealth management professionals noted that the mindset of Asian clients has shifted from "wanting only a small allocation" a few years ago to seeing it as "an essential part of the portfolio" and exploring various tools to optimize returns.
8. MetaMask announced the launch of its native stablecoin mUSD on Ethereum and Linea link
MetaMask announced the issuance of its native stablecoin MetaMask USD (mUSD), planned to launch later this year on Ethereum and Linea. mUSD will be issued by Stripe's Bridge platform and minted through M0's decentralized infrastructure, 1:1 backed by cash and high liquidity assets like short-term US Treasury bonds. This is the first stablecoin launched directly by a self-custody wallet, and MetaMask stated that mUSD will serve as the default dollar unit in its ecosystem for recharge, exchange, transfer, cross-chain, and payment, with plans to support the MetaMask card at Mastercard merchants by the end of the year.
9. Bernstein: The crypto bull market may last until 2027, with Bitcoin potentially rising to $200,000 link
Bernstein analysts' latest report indicates that the crypto bull market is expected to continue until 2027, benefiting from US policy support and accelerated institutional entry. Analysts expect Bitcoin to rise to $150,000 to $200,000 within the next year and believe that the next phase of the bull market will not be limited to Bitcoin but will also extend to Ethereum, Solana, and DeFi tokens, which will drive capital inflows into trading platforms and stablecoin issuers.
On Friday, BitMEX co-founder Arthur Hayes stated in an interview that he has repurchased ETH, reasoning that "the price chart indicates that prices will continue to rise." He expects Ethereum to reach $20,000 in this cycle and mentioned that he is currently heavily invested in ETH over SOL.
10. Windtree Therapeutics will be delisted from Nasdaq for not meeting minimum closing price maintenance standards link
The company Windtree Therapeutics, which employs a BNB micro-strategy, received a notification from Nasdaq on August 19, 2025, indicating that its common stock will be delisted from the Nasdaq Capital Market and transferred to the OTC market on August 21 due to not meeting the minimum closing price maintenance standards (Rule 5550(a)(2)). Previously, the company announced plans to raise up to $520 million through equity financing, of which 99% will be used to purchase BNB.
Key financing events
On-chain RWA exchange DigiFT completes strategic financing, accumulating $25 million link
On-chain stock trading platform StableStock completes seed round financing, with participation from YZi Labs and others link
AI risk control platform IVIX announces completion of $60 million Series B financing link
London digital asset trading company LO:TECH announces completion of $5 million seed round financing link
AI-native crypto platform Cointel announces completion of $7.4 million strategic financing link
Crypto startup Legion announces completion of $5 million seed round financing link
DeFi smart agent platform Almanak announces completion of $8.45 million financing link
Yield infrastructure protocol Hyperbeat announces completion of $5.2 million seed round financing link
More industry financing events can be found at crypto-fundraising.info.
