Today's news highlights:
1. After Powell's speech, the probability of a 25 basis point rate cut by the Federal Reserve in September increased to 91.1%
2. Grayscale, Bitwise, and several asset management companies submitted amended S-1 filings for XRP spot ETFs
3. VanEck submits the first spot Solana ETF application based on JitoSOL
4. ETH reached a high of $4,887.5 this morning, setting a new all-time high
5. WLFI will launch on the Ethereum mainnet on September 1, with early investors unlocking 20%
6. Wormhole plans to acquire Stargate for at least $120 million USDC
7. Binance Alpha will launch Multiple Network (MTP) on August 25
8. SharpLink approves a $1.5 billion stock repurchase plan to strengthen its Ethereum holding strategy
Macroeconomic
A Philippine legislator proposed establishing a national strategic Bitcoin reserve: planning to purchase 2,000 BTC each year for 5 years
According to NLNico quoting Philippine legislator Miguel Luis R. Villafuerte's submitted (HB 421) bill, the Philippines plans to purchase 2,000 Bitcoin annually through the central bank (BSP) for 5 years, totaling 10,000 Bitcoin. These Bitcoin will be stored for 20 years to enhance national security and stabilize the debt structure. The bill aims to ensure financial stability by establishing a strategic Bitcoin reserve to diversify asset allocation and address the increasingly important role of global cryptocurrency in the financial system.
Haycen has been authorized to issue stablecoins in Bermuda and plans to launch a pound-pegged token
Haycen, focused on trade financing, has obtained a stablecoin issuance license from the Bermuda Monetary Authority (BMA). The company plans to launch a 1:1 collateralized stablecoin in multiple currencies, including a pound-pegged token. Haycen's target market includes B2B enterprises, regulated entities, and non-bank lenders in the cross-border trade finance sector, which has long been considered underserved.
Haycen's stablecoin products will focus on reducing capital costs and enhancing corporate control over cash flow, with all tokens fully collateralized. Additionally, Haycen has partnered with Northern Trust and received support from the UK National Security Strategic Investment Fund (NSSIF).
After Powell's speech, the probability of a 25 basis point rate cut by the Federal Reserve in September rose to 91.1%
According to Jinshi Data, the CME 'Fed Watch' shows that after Powell's speech, the probability of a 25 basis point rate cut by the Federal Reserve in September rose to 91.1%, while the probability of maintaining the current rate is 8.9%. Looking ahead to October, the probability of the Fed maintaining rates is 4.3%, with a cumulative probability of a 25 basis point cut at 48.9% and a cumulative 50 basis point cut at 46.8%.
Previous news indicated that after Powell's speech, the market expected a 90% probability of a rate cut in September.
Grayscale, Bitwise, and several asset management companies submitted amended S-1 filings for XRP spot ETFs
Asset management companies Grayscale, Bitwise, Canary, CoinShares, Franklin, 21Shares, and WisdomTree submitted amended S-1 filings for XRP spot ETFs. The updated documents changed the structure of some funds, allowing for the creation of XRP or cash and the redemption of cash or physical assets, rather than just simple cash creation and redemption.
Bloomberg ETF analyst James Seyffart stated: '[These documents] are almost certainly in response to feedback from the U.S. SEC. This is a good sign, but also basically expected.'
The Japanese Financial Services Agency plans to reform cryptocurrency taxes, proposing a unified tax rate of 20%
According to BeInCrypto quoting Japanese local news outlet Nikkei, the Financial Services Agency (FSA) of Japan plans to include cryptocurrency tax reform in its 2026 tax revision plan. The proposal is expected to combine tax changes with stricter regulations and may introduce ETFs linked to cryptocurrencies.
The reform proposal includes two key parts. First, it revises tax laws to categorize cryptocurrency the same as stocks. Second, it includes a legal amendment reclassifying cryptocurrency as financial products, allowing the FSA to apply insider trading rules, disclosure standards, and investor protections under the Financial Instruments and Exchange Act. Currently, Japan taxes cryptocurrency gains as 'miscellaneous income' with a progressive tax rate, which may exceed 50% when local taxes are included, while stocks and bonds are taxed at a unified rate of 20%.
Viewpoint
Bitwise analyst: Bitcoin may rise to $1.3 million by 2035
In a report from Bitwise analysts, it is predicted that Bitcoin could become the best-performing institutional asset over the next decade, with its price climbing to $1.3 million by 2035. Bitwise's new price prediction implies a compound annual growth rate of 28.3%, with returns exceeding most traditional assets, but the company warns that even if volatility trends are lower than in past cycles, volatility will remain a defining characteristic of the market.
Analysts led by Matt Hougan wrote that three forces will drive adoption and price increases. The first catalyst is Bitcoin's continued rise as an institutional-grade asset. The second catalyst is the growing demand for exposure to hard assets in an inflationary environment, and the third catalyst is its fixed new supply.
Bitwise also stated that the 'historic four-year cycle' theory for Bitcoin is no longer relevant. Nevertheless, the institution still warns investors to expect significant pullbacks. The biggest risks include: regulatory changes, legislative changes in major markets, and challenges posed by relatively new assets with limited historical data. Additionally, quantum computing and other technological threats have raised concerns, but Bitwise considers them secondary issues.
Axie Infinity co-founder: The cryptocurrency most sensitive to Federal Reserve interest rates is ETH
After U.S. Federal Reserve Chairman Jerome Powell’s dovish remarks sparked speculation about a possible interest rate cut in September, the cryptocurrency market rose on Saturday, with market sentiment returning to 'greed'. Axie Infinity co-founder Jeffrey 'Jiho' Zirlin noted that ETH is the cryptocurrency most sensitive to interest rates, as the yield difference between depositing stablecoins in DeFi and depositing dollars in banks widens as rates drop. However, St. Louis Fed President Alberto M. Musalem stated that more time is needed to decide whether to support a rate cut, though some cryptocurrency market participants expect further increases if Powell hints at a rate cut.
Project dynamics
VanEck submits the first spot Solana ETF application based on JitoSOL
According to the Jito Foundation, VanEck has submitted an S-1 application to launch the first spot Solana ETF fully supported by liquid staking tokens (LST) JitoSOL—VanEck JitoSOL ETF.
In 2025, the SEC clearly stated that protocol staking and liquid staking do not involve securities trading under specific structures, paving the way for LST applications in ETFs to be compliant. The ETF will provide investors with liquidity, tax and regulatory clarity, and economic benefits by using staking rewards to offset costs. At the same time, JitoSOL strengthens the security of the Solana network through decentralized staking, indirectly contributing to network health for investors.
The application for VanEck JitoSOL ETF is an important step in connecting blockchain infrastructure with institutional investors and is currently under review.
WLFI will launch on the Ethereum mainnet on September 1, with early investors unlocking 20%
WLFI tweeted that its token will launch on the Ethereum mainnet on September 1, with early supporters (0.015 and 0.05 dollar rounds) unlocking 20%, the remaining 80% will be decided by community voting. Tokens for the founding team, advisors, and partners will not be unlocked. Trading and the first claim start at 20:00 on September 1 (UTC+8).
Ondo Finance: Launching the on-chain U.S. stock trading platform on September 3
Ondo Finance tweeted that it will launch the on-chain U.S. stock trading platform Ondo Global Markets on September 3.
Previous news stated that Ondo Finance will launch an on-chain U.S. stock trading platform, Ondo Global Markets, this summer.
Wormhole plans to acquire Stargate for at least $120 million USDC
The Wormhole Foundation tweeted that it has arranged financing and made an acquisition offer for Stargate, preparing to acquire Stargate with an initial offer of at least $120 million in USDC, exceeding LayerZero's $110 million bid. A full cash acquisition will provide $STG holders with maximum certainty and immediate liquidity, with no delays or exchange risks.
Previous news stated that Wormhole plans to acquire Stargate at a high price and requests to suspend the 'LayerZero acquisition of STG' vote.
Binance Alpha will launch Multiple Network (MTP) on August 25
According to the official announcement, Binance Alpha will launch Multiple Network (MTP) on August 25. Eligible users can go to the Alpha event page to claim airdrops using Binance Alpha points after the Alpha trading opens. Specific details will be announced separately.
Binance contracts will launch WLFIUSDT perpetual contract pre-trading on August 23 at 16:30
According to the official announcement, Binance's contract platform will launch WLFIUSDT perpetual contract pre-trading on August 23 at 16:30 (UTC+8), with a maximum leverage of 5 times.
Important data
Two major Bitcoin whales shifted to ETH within two days, with seven wallets still holding about $9.55 billion in BTC
According to Spot On Chain monitoring, two OG whales holding large amounts of Bitcoin made significant asset adjustments in the past two days, shifting their investment focus to Ethereum:
Sold 4,621.9 Bitcoin through 3 wallets, worth approximately $523.5 million;
Purchased and stored 82,398 Ethereum, worth approximately $353.65 million;
Opened long positions totaling 135,265 Ethereum on the Hyperliquid platform, worth approximately $583.7 million, with a liquidation price range of $3,487.4 to $3,612;
Currently still holding 84,645 Bitcoin, with a total value of approximately $9.55 billion, distributed across 7 wallets.
WLFI purchased 1,076 ETH at an average price of $4,670, totaling $5.025 million
According to Lookonchain monitoring, Trump's World Liberty (WLFI) just purchased 1,076 ETH at a price of $4,670 each, totaling $5.025 million.
ETH reached a high of $4,887.5 this morning, setting a new all-time high
OKX market shows that ETH broke through $4,800 this morning, reaching a high of $4,887.5, setting a new all-time high, currently reported at $4,830.8 each, with an intraday increase of 14.32%.
'Rolling Warehouse Brother' has made a long bet through ETH rollovers, currently with an unrealized profit of $5.5 million
According to on-chain analyst Yu Jin's monitoring, as ETH breaks new highs, 'Rolling Warehouse Brother' has turned $740,000 into $6.16 million through ETH rollovers, with an unrealized profit of $5.5 million. After continually using unrealized profits to add positions, the ETH holdings rolled from 4,000 when opened yesterday morning to now 25,100, with a position value of $12 million. 'Rolling Warehouse Brother's' recent profit and loss fluctuations are as follows:
$125,000 rolled over to go long on ETH, achieving an unrealized profit of $43 million ➙ after a significant retracement of unrealized profit, closed with a profit of $6.865 million;
$6.99 million continues to go long on ETH ➙ lost to only $780,000 remaining;
After covering costs, continued to roll over with $740,000 to go long on ETH ➙ now again achieving $6.16 million. Its position currently has a liquidation price at $4,666.
The 'BTC ancient whale that switched to ETH after sleeping for seven years' has a total unrealized profit of $120 million from spot and contracts
According to @ai_9684xtpa, after Ethereum hit a new high, a certain 'ancient whale that switched to ETH after sleeping for seven years' also hit a new high in unrealized profit, attracting $120 million in four days. Among them:
Spot: 105,599 ETH unrealized profit of $50.03 million, cost $4,284;
Contract: A cumulative $650 million long position in ETH has unrealized profits of $69.99 million, with five addresses holding a total of 135,265 ETH.
A certain whale transferred 3,500 BTC to a new wallet after being silent for 3 years, currently realizing a profit of approximately $305 million
According to Lookonchain monitoring, a certain whale, after being silent for 3 years, transferred 3,500 BTC (approximately $409 million) to a new wallet 10 hours ago. Three years ago, this whale withdrew 3,500 BTC from Gemini (then worth $104 million at $29,620), currently realizing a profit of $305 million (+294%).
The Bitcoin spot ETF had a net outflow of $23.1492 million yesterday, marking six consecutive days of outflows
According to SoSoValue data, the total net outflow of Bitcoin spot ETFs yesterday (Eastern Time August 22) was $23.1492 million.
The Bitcoin spot ETF with the highest single-day net inflow yesterday was the ETF ARKB from Ark Invest and 21Shares, with a single-day net inflow of $65.7427 million, currently ARKB's total historical net inflow is $2.015 billion.
The second highest net inflow for Fidelity's ETF FBTC was $50.8842 million in a single day, with a total historical net inflow of $11.719 billion for FBTC.
The Bitcoin spot ETF with the highest single-day net outflow yesterday was Blackrock's ETF IBIT, with a single-day net outflow of $199 million, and the total historical net inflow for IBIT is $58.059 billion.
As of the time of writing, the net asset value of Bitcoin spot ETFs is $150.229 billion, with an ETF net asset ratio (market cap as a percentage of total Bitcoin market cap) of 6.45%, and cumulative net inflows have reached $53.8 billion.
Radiant Capital hacker sold 3,931 ETH, with the stolen $53 million now worth $104 million
According to on-chain analyst Yu Jin's monitoring, Radiant Capital's hacker bought 4,914 ETH for $4,167 three days ago and sold 3,931 ETH for $4,726 today, converting it into 18.57 million DAI. The swing situation is as follows:
After stealing $53 million, purchased 21,900 ETH for $2,420 each to store;
On 8/14, sold 9,631 ETH at a price of $4,562;
On 8/20, purchased 4,914 ETH at a price of $4,167;
Today, sold 3,931 ETH at a price of $4,726.
The $53 million in assets stolen last year is now worth $104 million: including 13,300 ETH ($62.63 million) + $42.03 million DAI.
Institutional holdings
SharpLink approves a $1.5 billion stock repurchase plan to strengthen its Ethereum holding strategy
According to official news, SharpLink Gaming, Inc. (NASDAQ: SBET) announced that its board has approved a stock repurchase plan of up to $1.5 billion to optimize capital allocation and support market performance. SharpLink is one of the largest corporate holders of Ethereum (ETH) globally, committed to promoting the widespread adoption of the Ethereum ecosystem.
The plan aims to address the situation where company stock prices are below their Ethereum holdings' net asset value (NAV), avoiding dilution of the per-share Ethereum asset value through stock repurchases. Repurchases will be conducted through open market purchases, privately negotiated transactions, or other legal means based on market conditions, stock prices, and trading volumes, and the plan can be suspended or terminated at any time.
Huaxing Capital signed a strategic cooperation memorandum with YZi Labs, investing approximately $100 million to allocate BNB assets
According to the announcement from Huaxing Capital Holdings Limited, the company signed a strategic cooperation memorandum with YZi Labs Management Ltd on August 22, 2025, planning deep cooperation around BNB and the BNB Chain ecosystem. According to the memorandum, Huaxing Capital will invest approximately $100 million to specifically allocate BNB assets, becoming the first Hong Kong-listed company to include BNB in digital asset allocation and promoting BNB's listing on licensed virtual asset exchanges in Hong Kong.
In addition, Huaxing Capital plans to establish a real-world asset (RWA) fund with a target size of several hundred million dollars to promote the development of BNB in stablecoin and RWA application scenarios.
