Headlines
▌a16z and OpenAI co-founders have established a $100 million PAC for the AI industry to promote pro-AI policies.
Leading AI companies and tech giants, including Andreessen Horowitz (a16z) and OpenAI co-founder Greg Brockman, have announced the establishment of the 'Leading the Future' political action committee (PAC) with plans to invest $100 million to support state and federal candidates aligned with pro-AI agendas in the next two years. This fund will focus on intervening in primaries and elections in AI development hotspots such as California, New York, Illinois, and Ohio this year, and will expand to federal levels before the midterm elections in 2026. The move aims to ensure U.S. leadership in AI and to counter policies that may hinder innovation. The fund's operations draw on the crypto industry's Fairshake PAC and collaborate with political strategist Josh Vlasto to promote related actions.
▌Financial Times: U.S. banks are lobbying to prevent stablecoins from paying interest to customers.
According to the Financial Times, due to concerns over deposit flight, U.S. banks are lobbying to prevent stablecoins from paying 'yields' or interest to customers.
Market
As of press time, according to CoinGecko data:
BTC price is $110,200, 24-hour change -2.9%;
ETH price is $4,385.79, 24-hour change -8.2%;
BNB price is $840.68, 24-hour change -4.0%;
SOL price is $186.98, 24-hour change -9.1%;
DOGE price is $0.2099, 24-hour change -9.6%;
XRP price is $2.86, 24-hour change -5.5%.
TRX price is $0.3426, 24-hour change -5.3%.
Policy
▌The Philippines proposed to establish a strategic reserve of 10,000 Bitcoins with a lock-up period of 20 years.
According to @cryptounfolded, market news reports that the Philippines proposed to establish a strategic reserve of 10,000 Bitcoins with a lock-up period of 20 years.
▌Trump: We will no longer invest any funds in Ukraine.
U.S. President Trump: (Regarding the Ukraine conflict) We will no longer invest any funds in Ukraine.
Blockchain applications
▌Hassett: Intel will receive funding from the chip act, and the government will hold shares.
U.S. National Economic Council Director Hassett: Intel (INTC.O) will receive funding from the chip act, and the government will hold shares. (Discussing the U.S. government's holding of Intel shares and other industry investments) This is a special case, but there may be more transactions in this industry and others in the future. The funding from the chip act is being spent as planned, and the government may obtain more equity from companies in the future.
▌The acting chair of the U.S. CFTC may join MoonPay after the formal chair confirmation.
Crypto journalist Eleanor Terrett tweeted that 'there are rumors that after the confirmation of the permanent chair candidate, acting CFTC chair Caroline D. Pham will join the cryptocurrency payment platform MoonPay. MoonPay declined to comment. A spokesperson for the CFTC did not deny the rumor and told me: 'As she mentioned in May, acting chair Pham will return to the private sector after the new chair is confirmed. In the meantime, she remains committed to faithfully executing the president's agenda and delivering on his promise to win victories in the crypto sector.'
▌Elon Musk's XAI has filed a lawsuit against Apple and OpenAI in a Texas court.
Court documents show that Elon Musk's XAI has sued Apple and OpenAI in a Texas court, accusing them of violating antitrust laws.
▌Iren purchased 4,200 Nvidia Blackwell architecture GPUs for $193 million with financing support.
Cryptocurrency concept stock Iren purchased 4,200 Nvidia Blackwell architecture GPUs for $193 million with financing support, increasing its AI cloud platform computing power to 8,500 GPUs.
▌Japan's SBI Group has partnered with Chainlink to accelerate global adoption of digital assets by institutions.
According to @ImCryptOpus, market news states that Japan's SBI Group has partnered with Chainlink to accelerate the global adoption of digital assets by institutions.
Cryptocurrency
▌CoinShares: Last week, the total outflow of funds from digital asset investment products reached $1.43 billion.
CoinShares' latest report shows that last week, digital asset investment products experienced a significant outflow of funds totaling $1.43 billion, the highest level since March. Last week, due to increasingly polarized investor sentiment on U.S. monetary policy, trading volume of exchange-traded products (ETPs) reached $38 billion, about 50% higher than the average for this year. Earlier this week, pessimistic sentiment surrounding the Federal Reserve's stance led to an outflow of $2 billion. However, following Jerome Powell's speech at the Jackson Hole symposium, market sentiment shifted, widely interpreted as more dovish than expected, resulting in an inflow of $594 million. Ethereum saw a significant rebound midweek, limiting outflows to $440 million, while Bitcoin's outflows totaled $1 billion. Data so far this month shows that Ethereum's inflow has reached $2.5 billion, while Bitcoin has seen a net outflow of $1 billion, marking a significant change in investor sentiment towards both assets. Year-to-date, Ethereum's inflows account for 26% of its total assets under management, while Bitcoin's is only 11%.
▌Trump's cryptocurrency advisor: 'There will not be another Bitcoin bear market in the coming years.'
According to @Cointelegraph, Trump's cryptocurrency advisor David Bailey stated, 'There will not be another Bitcoin bear market in the coming years.'
▌A certain ancient whale staked 269,400 ETH in the past hour.
According to on-chain analyst Ai Yi's monitoring, a dormant Bitcoin ancient whale, which has been inactive for seven years and recently swapped for ETH, staked 269,485 ETH to the ETH2 beacon chain in the past hour, valued at $1.25 billion. This staking volume surpassed that of the Ethereum Foundation, the top 4 entity holding ETH (231,000 ETH), and directly reduced the difference between the exit and entry queues of the Ethereum PoS network to 260,000 ETH. In comparison, yesterday's difference was 727,000 ETH, accounting for 66.7% of today's entry queue increment.
▌Strategy purchased 3,081 Bitcoins for approximately $356.9 million last week.
Strategy purchased approximately 3,081 BTC for about $356.9 million last week, with each Bitcoin priced at approximately $115,829, achieving a 25.4% BTC yield so far this year. As of August 24, 2025, Strategy holds 632,457 BTC, acquired for about $46.5 billion, with each Bitcoin priced at approximately $73,527. Funding sources include: MSTR common stock ATM financing of $309.9 million, STRK ATM financing of $20.4 million, and STRF ATM financing.
▌Sequans announced a $200 million equity plan to accelerate its Bitcoin reserve strategy.
French semiconductor and IoT company Sequans Communications (NYSE: SQNS) announced the establishment of an 'At The Market' (ATM) equity issuance plan, allowing the company to issue American depositary shares at any time based on market conditions, with each share representing 10 shares of common stock, for a maximum total of $200 million. Sequans stated that this plan will serve as a tool for the first phase of its Bitcoin reserve strategy, with the funds expected to mainly be used to continue purchasing Bitcoin to support the company's long-term reserve strategy.
▌Bitwise: By 2035, the price of Bitcoin will reach $2.9 million.
Bitwise articulated its bullish view in its first (Bitcoin Long-Term Capital Market Hypothesis) stating that by 2035, the price of Bitcoin will reach $2.9 million.
▌Bitmine increased its holdings of ETH by over 190,000 in the past week, bringing its total to 1.71 million ETH.
U.S. publicly traded company Bitmine announced that its cryptocurrency and cash holdings exceed $8.82 billion. As of 5:30 PM Eastern Time on August 24, the company's cryptocurrency holdings include 1,713,899 ETH, 192 BTC, and $562 million in unallocated cash. Bitmine disclosed that over the past week its cryptocurrency and cash holdings increased by $2.2 billion, with more than 190,500 ETH (approximately $800 million) added, increasing from 1.52 million ETH to 1.71 million ETH.
▌Fundamental Global has increased its Ethereum holdings to 48,545.
Fundamental Global announced an increase in its Ethereum holdings to 48,545. Previously reported, as of 6:30 PM on August 10, Fundamental Global's ETH holdings stood at 47,331, with an average purchase price of $4,228.40.
▌The U.S. SEC has opened a public comment period for the Canary staking INJ ETF.
The U.S. Securities and Exchange Commission (SEC) is seeking public comments to decide whether to approve the ETF proposed by Canary for staking Injective (INJ). The SEC has requested relevant comments to be submitted within 21 days and will decide on the next steps within 90 days.
▌U.S. SEC delays the decision on the Canary spot PENGU ETF and Grayscale spot Cardano ETF applications.
U.S. SEC delays the decision on the Canary spot PENGU ETF and Grayscale spot Cardano ETF applications.
▌Grayscale has submitted Avalanche ETF S-1 application documents to the U.S. SEC.
Grayscale has submitted Avalanche ETF S-1 application documents to the U.S. Securities and Exchange Commission (SEC).
▌ETHZilla announced a $250 million stock buyback plan.
The board of ETHZilla Corporation (NASDAQ: ETHZ) has approved a stock buyback plan with a maximum amount of $250 million, which is effective immediately. Additionally, the company announced that it currently holds 102,237 ETH, with an average acquisition price of $3,948.72, currently valued at approximately $489 million. Aside from ETH, ETHZilla also holds about $215 million in cash equivalents.
▌U.S. SOL treasury company DFDV raises $125 million to increase SOL holdings.
The U.S. SOL treasury company DeFi Development Corp (DFDV) has announced that it has signed a final agreement to conduct a $125 million equity financing at a price of $12.50 per share. This issuance will combine cash and locked SOL, further strengthening DFDV's strategy to maximize the growth of its Solana holdings (SPS). The net funds raised will be used to increase spot SOL and discounted locked SOL to expand the treasury asset scale.
▌Sharps Technology completes over $400 million in private fundraising to establish a SOL treasury.
Sharps Technology announced the completion of over $400 million PIPE private fundraising, planning to establish the world's largest Solana (SOL) digital asset treasury. Investors include ParaFi, Pantera, Monarq, etc., and they have signed a letter of intent with the Solana Foundation to purchase $50 million SOL at a 15% discount from the 30-day average price.
▌Former executives of Bitmain will establish a BNB treasury company with the support of YZi Labs.
Digital asset investment company B Strategy announced plans to launch a BNB treasury company listed on NASDAQ, aiming to raise $1 billion. The unnamed BNB treasury company will receive strategic support from YZi Labs. A representative stated that YZi Labs will not only provide financial support but also ecosystem support by connecting ecological partners. B Strategy indicated that it will leverage its extensive presence in the Asia-Pacific region to gain liquidity, market intelligence, and distribution channels and revealed that several well-known Asian family offices have joined as anchor investors. A representative of YZi Labs disclosed to the media that the company expects to complete the NASDAQ listing and $1 billion fundraising plan within weeks. After the establishment of B Strategy's new company, it will work with several existing institutions to provide leveraged exposure to BNB investments.
▌CZ clarifies: B Strategy is supported by YZi Labs but not led by them; He Yi was not involved.
CZ clarified that B Strategy announced the launch of a $1 billion BNB treasury company listed in the U.S., supported by YZi Labs, but not led by them. CZ emphasized that the previous report by The Block, mentioning 'B Strategy will receive strategic support from YZi Labs led by CZ and He Yi,' was an over-interpretation and that He Yi was not involved.
▌Boyaa Interactive spent approximately HKD 257 million to purchase a total of about 29 Bitcoins this month.
According to Zhitong Finance, Boyaa Interactive (00434.HK) announced that during the period from August 5 to August 25, 2025, the group conducted a series of transactions in the open market to purchase a total of about 290 Bitcoins for a total consideration of approximately HKD 257 million (equivalent to about $32.91 million), using the company's own funds to buy Bitcoin.
▌Heritage Distilling completed a $223.8 million private fundraising round and currently holds over 53.2 million IP tokens.
NASDAQ-listed Heritage Distilling Holding Company announced the successful completion of a $223.8 million private fundraising round, with participation from Story Foundation, a16z crypto, Amber Group, Arrington Capital, dao5, Hashed, Mirana Ventures, Neoclassic Capital, Open World, Polychain Capital, Selini Capital, Stix, Syncracy Capital, etc. The new funds will support its strategy of building a digital asset financial strategy based on IP tokens. Currently, the company holds over 53.2 million native Story tokens IP, valued at approximately $320 million based on the price of $6.0668 on August 22.
▌Galaxy, Jump, and Multicoin plan to spend $1 billion to acquire Sol.
Galaxy, Jump, and Multicoin plan to spend $1 billion to acquire Solana token SOL. (Bloomberg)
Important economic dynamics
▌Hassett: (Regarding the Federal Reserve) Considering an interest rate cut is appropriate.
U.S. National Economic Council Director Hassett: (Regarding the Federal Reserve) Considering an interest rate cut is appropriate. Federal Reserve Chairman Powell's remarks are insightful. It is expected that it will take a few months for the Fed's chair nominee to be decided before Trump makes a decision.
▌U.S. National Economic Council: Powell is unlikely to regain Trump's favor.
U.S. National Economic Council Chairman Hassett: Powell is unlikely to regain Trump's favor.
▌The probability of the Federal Reserve cutting interest rates in September is 82.8%.
According to CME's 'FedWatch': The probability of the Federal Reserve maintaining interest rates in September is 17.2%, while the probability of a 25 basis point cut is 82.8%. The probability of the Federal Reserve maintaining interest rates in October is 10%, with a cumulative probability of a 25 basis point cut at 55.5% and a cumulative probability of a 50 basis point cut at 34.5%.
Golden Encyclopedia
▌What is a Bitcoin flash crash?
A Bitcoin flash crash refers to a sudden and significant drop in the market price of BTC that lasts for a very short time, after which the price starts to return to normal. The emergence of unique market conditions leads to fluctuations in the market price of the leading cryptocurrency. Typically, the reason behind a flash crash is that a large group of sellers (referred to as whales) suddenly decide to sell Bitcoin, injecting a large supply into the market. This can overwhelm buyers and potentially lead to market losses of billions of dollars within minutes. In recent years, BTC flash crash events have occurred frequently, highlighting the volatility risks that still exist in cryptocurrencies, even for strong crypto assets like BTC. Despite the market size of cryptocurrencies reaching trillions of dollars, it is still maturing. It is crucial for new investors in this field to understand the reasons behind BTC price drops. Without this knowledge, witnessing such events can have devastating consequences and lead to making emotionally driven trading decisions instead of insightful and profitable investments. The traditional stock market has built-in circuit breakers that temporarily halt trading when the asset or index fluctuates beyond a certain range. The BTC market lacks these circuit breakers, making it difficult to control rapid market declines.
