Headline
▌Bitcoin OG sells another 300 BTC to buy ETH, realizing a floating profit of $84 million in three days
According to Lookonchain monitoring, a Bitcoin OG recently deposited 300 BTC (approximately $34.78 million) into the Hyperliquid platform for selling and purchasing ETH. In the past three days, this user has realized an unrealized profit of $84 million: holding a long position of 135,265 ETH (worth approximately $581 million) with an average entry price of $4,295, floating profit of $49 million. Spot purchases of 100,979 ETH (worth approximately $435 million) at an average purchase price of $4,309, floating profit of $35 million.
▌ETH has broken $4,700
Market shows that ETH has broken $4,700, currently reported at $4,752.61, with a 24-hour increase of 12.36%. The market is highly volatile, please ensure proper risk control.
Market
As of the time of writing, according to CoinGecko data:
The price of BTC is $116,345, with a 24-hour change of +2.2%;
The price of ETH is $4,776.06, with a 24-hour change of +9.5%;
The price of BNB is $840.38, with a 24-hour change of +3.5%;
The price of SOL is $197.62, with a 24-hour change of +7.4%;
The price of DOGE is $0.2534, with a 24-hour change of +5.9%;
The price of XRP is $3.02, with a 24-hour change of +3.8%.
The price of TRX 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 $13 million in cryptocurrency fraud. The man was stopped by police for throwing a cigarette and attempted to bribe his way out of further questioning. The police intercepted this man in the Gwanak District of Seoul as he pleaded with officers to let him leave while trying to hail a taxi. The man refused to show his ID and attempted to escape but was ultimately arrested. Investigations revealed that he was involved in a cryptocurrency fraud case involving 17.7 billion won (approximately $12.6 million) between 2018 and 2019, with approximately 1,300 victims. Currently, the man faces 10 charges, including assault and fraud, and has been on the run since 2020. He is now detained by the Southern District Prosecutor’s Office in Seoul.
▌Epstein's former girlfriend denies the existence of a "client list"; U.S. Department of Justice hands over thousands of pages of documents
On August 22 local time, the U.S. Department of Justice released recordings of interviews and hundreds of pages of transcripts involving Ghislaine Maxwell, the former girlfriend of deceased U.S. businessman Jeffrey Epstein. Maxwell denied the existence of an alleged "Epstein client list" during the interviews. Fox News reported that U.S. Deputy Attorney General Todd Branch questioned Maxwell for several hours in a federal prison in Tallahassee, Florida, with an interview agreement granting her limited immunity, but she could still be prosecuted if she lied during the process.
▌Canada announces the cancellation of multiple retaliatory tariffs on U.S. 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 U.S. goods, but tariffs on U.S. automobiles, steel, and aluminum will be temporarily maintained. He emphasized that these measures correspond to the U.S. reduction of tariffs on Canadian goods.
Blockchain applications
▌Ondo Finance announces that it will launch tokenized stocks on September 3
Ondo Finance announced on platform X that it will launch tokenized stocks on September 3. Earlier news indicated that Ondo Finance plans to launch the on-chain U.S. stock platform Ondo Global Markets this summer, initially putting over 100 U.S. stocks on-chain and expanding to thousands by the end of the year.
▌Jump Crypto proposes DFBA mechanism to address challenges of traditional CLOBs on the blockchain
According to market maker Jump Crypto's research team, a new trading mechanism called Dual Flow Batch Auction (DFBA) is proposed to address the challenges of traditional continuous limit order books (CLOBs) on the blockchain. It is reported 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 two groups: Maker and Taker, and completing transactions at a single fair settlement price. This mechanism eliminates time priority, avoids competition among liquidity providers, and shifts the competitive focus from speed to price and size. Compared to traditional designs, DFBA can provide tighter spreads, deeper liquidity, while protecting natural traders from delayed arbitrage and MEV reordering. Jump Crypto believes this design inherits the advantages of previous trading models, such as continuous liquidity and auction fairness, while avoiding high slippage and liquidity fragmentation, providing market participants with a fairer and more efficient trading environment.
Cryptocurrency
▌BNB has broken $890
Market shows that BNB has broken $890, currently reported at $890.1, with a 24-hour increase of 6.04%. The market is highly volatile, please ensure proper risk control.
▌SAND has broken $0.3
Market shows that SAND has broken $0.3, currently reported at $0.31, with a 24-hour increase of 10.71%. The market is highly volatile, please ensure proper risk control.
▌21SHARES XRP ETF has been registered in Delaware
According to market news, 21SHARES XRP ETF has been registered in Delaware, USA.
▌A shorting Ethereum whale replenished $5.22 million in margin and currently has a floating loss of $14 million
According to Onchain Lens monitoring, as Ethereum broke the $4,700 mark again, a 20x shorting whale deposited $5.22 million USDC into Hyperliquid to avoid liquidation. Currently, their floating loss is $14 million, with a total loss of $26 million.
Important economic dynamics
▌Federal Reserve's Musalem: If employment market risks intensify, policy rates may need adjustment
Federal Reserve's Musalem stated that attention should be paid to the overall rate path, not just the rate decisions of a specific meeting. Inflation has exceeded the target level and there are ongoing risks. The next employment report may influence the decision on rate cuts, depending on the contents of the report. Employment market risks are rising but have not yet manifested, and the inflation effects of tariffs are expected to gradually dissipate. The rate path may include a pause in rate cuts.
▌Offshore RMB against the U.S. dollar rose by 109 points compared to Thursday's New York close
Offshore RMB (CNH) against the U.S. dollar is reported at 7.1719 yuan, up 109 points from Thursday's New York close, trading within a range of 7.1897-7.1666 yuan during the day.
▌Barclays: Expects the Federal Reserve to start cutting rates in September
Barclays: Expects the Federal Reserve to start cutting rates in September, previously expected in December.
▌The U.S. bank stock index is expected to set a historical closing record
As investors speculate on a possible rate cut by the Federal Reserve next month, the U.S. bank stock index may see its first record close since January 2022. The KBW Bank Index, which tracks the 24 largest U.S. banks, rose by 3%, poised to set a historical closing record. This will end a period of stagnation lasting over 900 trading days, the longest since the financial crisis when the index failed to refresh its highs for more than 3,500 trading days. As Powell cautiously opens the door for a rate cut in September, bank stocks also joined the broader market rebound on Friday. Overall, thanks to volatility in the stock, bond, and foreign exchange markets, major Wall Street banks reported solid performance in the second quarter. All banks that underwent the Federal Reserve's annual stress tests passed easily, allowing them to raise dividends to levels exceeding market expectations. The rise in bank stocks this year has also been driven by market expectations that a more lenient regulatory environment under the Trump administration will stimulate corporate merger and acquisition activity, thus boosting investment banking revenues.
▌U.S. stocks SBET and BMNR both rose over 15%
U.S. stocks related to Ethereum reserves generally rose, including: SharpLink Gaming (SBET.US) up 15.21%; Bitmine Immersion Technologies (BMNR.US) up 15.28%; GameSquare (GAME.US) up 5.75%; Bit Digital (BTBT.US) up 5.51%; Coinbase (COIN.US) up 6.88%.
▌Analysis: Powell indicates that the Federal Reserve's primary focus has shifted to supporting the labor market, and the interest rate decision will be determined by employment data
According to The Kobeissi Letter, analyzing Federal Reserve Chairman Powell's speech today: "Today's statement indicates that their primary task has shifted to supporting the labor market. Changes in risk balance may require policy adjustments, he explicitly refers to the labor market. Therefore, the employment report will determine future rate cuts."
Golden Encyclopedia
▌What are tokenized goods?
Tokenized goods represent partial ownership of real-world assets using digital tokens on the blockchain while retaining their tangible value. Tokenized goods are digital versions of real-world items (such as gold, oil, or crops) recorded on the blockchain. Each token represents a part or the entirety of the good, making it easier to divide and trade. This simplifies the buying and selling of small portions of goods for investors, provides more liquidity, and offers opportunities to enter markets that are typically hard to trade. You do not have to buy the entire good (which can be very expensive and impractical), instead, it is divided into smaller pieces called tokens. Each token represents a small portion of the good. Blockchain technology can help tokenize various goods, including energy resources, real estate, precious metals, and agricultural products. Commodity-backed cryptocurrencies are designed to be more stable digital assets than volatile cryptocurrencies. This stability is achieved by pegging their value to tangible goods such as real estate, gold, or oil. Tokenization of goods clarifies ownership, enables partial ownership, simplifies transactions, and facilitates market activity. While the prospects are bright, tokenized goods also face challenges. The rules are not always clear, as existing regulations may not fully cover these scenarios. The technology behind tokenized goods must be properly tested to handle the complexities of creating and trading these tokens.
