Headline
▌Bitcoin OG sells 300 BTC to buy ETH again, with an unrealized gain of $84 million in 3 days.
According to Lookonchain monitoring, a Bitcoin OG recently deposited another 300 BTC (approximately $34.78 million) on the Hyperliquid platform for sale and purchase of ETH. In the past 3 days, this user has realized an unrealized profit of $84 million: holding a long position of 135,265 ETH (worth about $581 million) with an average entry price of $4,295, with a floating profit of $49 million. The spot purchase of 100,979 ETH (worth about $435 million) had an average purchase price of $4,309, with a floating profit of $35 million.
▌ETH has broken through $4,700.
Market shows that ETH has broken through $4,700, currently quoted at $4,752.61, with a 24-hour increase of 12.36%. Market fluctuations are significant, please manage risk accordingly.
Market
As of publication, according to CoinGecko data:
BTC price is $116,345, with a 24-hour change of +2.2%;
ETH price is $4,776.06, with a 24-hour change of +9.5%;
BNB price is $840.38, with a 24-hour change of +3.5%;
SOL price is $197.62, with a 24-hour change of +7.4%;
DOGE price is $0.2534, with a 24-hour change of +5.9%;
XRP price is $3.02, with a 24-hour change of +3.8%.
TRX price is $0.3659, with a 24-hour change of +2.0%.
Policy
▌A 60-year-old cryptocurrency fugitive was arrested in Seoul for throwing a cigarette.
According to Protos, a 60-year-old cryptocurrency fugitive was arrested in Seoul on August 22, 2025, for allegedly committing a $13 million cryptocurrency fraud. The man was stopped by police for throwing away a cigarette and attempted to bribe his way out of further questioning. Police intercepted him in the Gwanak District of Seoul as he pleaded with officers to let him go while trying to hail a taxi. The man refused to hand over his ID and attempted to flee, ultimately being arrested. Investigations revealed he is suspected of carrying out a cryptocurrency fraud case involving 17.7 billion won (approximately $12.6 million) between 2018 and 2019, affecting about 1,300 victims. Currently, he faces 10 charges including assault and fraud, and has been on the run since 2020, now detained by the Southern District Prosecutor's Office in Seoul.
▌Epstein's ex-girlfriend denies the existence of a 'client list', as the US Department of Justice hands over thousands of pages of documents.
On August 22, local time, the US Department of Justice released audio recordings and hundreds of pages of transcripts of interviews with Ghislaine Maxwell, the former girlfriend of deceased American businessman Jeffrey Epstein. Maxwell denied the existence of a so-called 'Epstein client list' during the interview. Fox News reported that US Deputy Attorney General Todd Blanche questioned Maxwell for several hours at a federal prison in Tallahassee, Florida, and the interview agreement granted her limited immunity, but she could still be prosecuted if she lied during the process.
▌Canada announces the cancellation of multiple retaliatory tariffs on US goods.
On August 22, local time, Canadian Prime Minister Carney announced at a press conference in the capital Ottawa that Canada has decided to cancel multiple retaliatory tariffs on US goods, but tariffs on US automobiles, steel, and aluminum will be temporarily maintained. He emphasized that these measures are a response to the US's reduction of tariffs on Canadian goods.
Blockchain applications
▌Ondo Finance announces the launch of tokenized stocks on September 3.
Ondo Finance posted on X platform that it will launch tokenized stocks on September 3. Previously, Ondo Finance announced it will launch the on-chain US stock platform Ondo Global Markets this summer, initially bringing over 100 US stocks on-chain and expanding to thousands by the end of the year.
▌Jump Crypto proposes DFBA mechanism to address the challenges of traditional CLOBs on the blockchain.
According to a publication by market maker Jump Crypto's research team, a new trading mechanism called Dual Flow Batch Auction (DFBA) has been proposed to address the challenges of traditional Continuous Limit Order Books (CLOBs) on the blockchain. It is noted that CLOBs rely on continuous matching and time priority mechanisms, leading to delayed arbitrage, MEV (Miner Extractable Value) issues, and adverse trading liquidity, increasing market trading costs. DFBA conducts two independent auctions every 100 milliseconds, dividing orders into Maker and Taker groups, and completes transactions at a single fair clearing price. This mechanism eliminates time priority, avoids competition among liquidity providers, and shifts the competitive focus from speed to price and scale. Compared to traditional designs, DFBA can provide tighter quotes, deeper liquidity, while protecting natural traders from the effects of delayed arbitrage and MEV reordering. Jumpcrypto believes this design inherits the advantages of previous trading models, such as continuous liquidity and auction fairness, while avoiding drawbacks like high slippage and fragmented liquidity, providing a fairer and more efficient trading environment for market participants.
Cryptocurrency
▌BNB has broken through $890.
Market shows that BNB has broken through $890, currently quoted at $890.1, with a 24-hour increase of 6.04%. Market fluctuations are significant, please manage risk accordingly.
▌SAND has broken through $0.3.
Market shows that SAND has broken through $0.3, currently quoted at $0.31, with a 24-hour increase of 10.71%. Market fluctuations are significant, please manage risk accordingly.
▌21SHARES XRP ETF has been registered in Delaware.
According to market news, 21SHARES XRP ETF has been registered in Delaware, USA.
▌A certain short-selling Ethereum whale has added $5.22 million in margin, now showing an unrealized loss of $14 million.
According to Onchain Lens monitoring, with Ethereum breaking $4,700 again, a 20x short whale deposited $5.22 million USDC into Hyperliquid to avoid liquidation. Currently, their floating loss stands at $14 million, with an overall loss of $26 million.
Important economic dynamics
▌Federal Reserve's Musalem: If labor market risks escalate, policy rates may need adjustment.
Federal Reserve's Musalem indicates that the entire interest rate path should be considered, not just the rate decision of a single meeting. Inflation has exceeded target levels and there are persistent risks. The next employment report could influence the decision to cut rates, depending on its contents. Risks in the labor market are rising but have not yet materialized, and the inflation effect of tariffs is expected to gradually dissipate. The interest rate path may include a pause in rate cuts.
▌Offshore Renminbi against the US dollar increased by 109 points compared to Thursday's New York close.
Offshore Renminbi (CNH) against the US dollar is quoted at 7.1719 yuan, an increase of 109 points compared to Thursday's New York close, trading overall within the range of 7.1897-7.1666 yuan during the day.
▌Barclays: The Federal Reserve is expected to start cutting interest rates in September.
Barclays: The Federal Reserve is expected to start cutting interest rates in September, previously anticipated in December.
▌The US bank stock index is poised to set a historical closing record.
As investors speculate that the Federal Reserve may cut interest rates next month, the US bank stock index may see its first record close since January 2022. The KBW Bank Index, which tracks 24 of the largest US banks, rose by 3%, poised to set a historical closing record. This would end a period of stagnation of over 900 trading days, the longest since the financial crisis when the index failed to break the 3500-day mark. As Powell cautiously opens the door for a rate cut in September, bank stocks also joined a broader market rebound on Friday. Overall, thanks to volatility in the stock, bond, and forex markets, major Wall Street banks reported robust second-quarter performance. All banks that underwent the Federal Reserve's annual stress test easily passed, allowing them to raise dividends beyond market expectations. This year’s rise in bank stocks has also been driven by market expectations that a more lenient regulatory environment under the Trump administration will stimulate corporate merger activities, boosting investment banking revenues.
▌US stocks SBET and BMNR both rose over 15%.
US stock Ethereum reserve concept stocks all rose, among them: SharpLink Gaming (SBET.US) rose 15.21%; Bitmine Immersion Technologies (BMNR.US) rose 15.28%; GameSquare (GAME.US) rose 5.75%; Bit Digital (BTBT.US) rose 5.51%; Coinbase (COIN.US) rose 6.88%.
▌Analysis: Powell indicates that the Federal Reserve's primary focus has shifted to supporting the labor market, and interest rate decisions will be determined by employment data.
According to The Kobeissi Letter analyzing Federal Reserve Chairman Powell's speech today: 'Today's speech indicates that their primary focus has shifted to supporting the labor market. Changes in the risk balance may require policy adjustments, which he clearly refers to the labor market. Therefore, the employment report will determine future rate cuts.'
Golden Encyclopedia
▌What are tokenized commodities?
Tokenized commodities represent partial ownership of real-world assets using digital tokens on the blockchain, while retaining their tangible value. Tokenized commodities are digital versions of real-world items (such as gold, oil, or crops) recorded on the blockchain. Each token represents a portion or the whole of a commodity, making it easier to split and trade. This simplifies the buying and selling of small portions of a commodity for investors, provides more liquidity, and offers opportunities to enter markets that are usually hard to trade. You do not have to purchase the entire commodity (which can be very expensive and impractical), but rather divide it into smaller pieces called tokens. Each token represents a small portion of the commodity. Blockchain technology can help tokenize various commodities, including energy resources, real estate, precious metals, and agricultural products. Commodity-backed cryptocurrencies are digital assets designed to be more stable than volatile cryptocurrencies. This stability is achieved by pegging its value to tangible commodities like real estate, gold, or oil. Tokenization of commodities clarifies ownership, enables fractional ownership, simplifies transactions, and facilitates market activity. While the outlook is bright, tokenized commodities also face challenges. The rules are not always clear, as existing regulations may not fully cover them. The technology behind tokenized commodities must be properly tested to handle the complexities of creating and trading these tokens.
