Author: Shenchao TechFlow
Market dynamics yesterday.
Trump announces the dismissal of Federal Reserve Board member Cook.
According to Jin10 data, U.S. President Trump signed documents to remove Federal Reserve Board member Cook from office, effective immediately. Trump stated in the documents: 'By virtue of the powers granted to me under Article II of the U.S. Constitution and the revised 1913 Federal Reserve Act, I hereby remove Cook from the Board of Governors of the Federal Reserve System. Given Cook's dishonesty in financial matters, which may involve criminal acts, I cannot have confidence in your integrity. At the very least, these actions expose significant neglect in your financial dealings, raising doubts about your capacity and credibility as a financial regulator.'
Grayscale has submitted an Avalanche ETF S-1 application to the U.S. SEC.
Grayscale has submitted an Avalanche ETF S-1 application to the U.S. Securities and Exchange Commission (SEC).
OKX DEX will charge service fees for certain currency pairs' exchanges.
According to the official announcement, OKX DEX will start charging service fees for certain currency pairs' exchanges in the aggregator from August 25, 2025, at 10:00 (UTC+8).
SBI and Chainlink have reached a strategic cooperation to advance institutional digital asset applications.
According to Financefeeds, SBI Group announced a strategic partnership with Chainlink aimed at promoting institutional applications of blockchain solutions in the global market, starting with the Japanese market.
This collaboration will focus on multiple application scenarios including tokenized physical assets, tokenized funds, and compliant stablecoins. Both parties will leverage Chainlink's cross-chain interoperability protocol to develop cross-chain tokenized assets, including real estate and bonds. Additionally, the collaboration includes the integration of Chainlink SmartData for fund tokenization and the use of Chainlink reserve proof system for transparent verification of stablecoin reserves.
Story co-founder: All funds raised will be used for IP buybacks.
Story co-founder and CEO S.Y. Lee (@storysylee) announced that the $82 million funds raised through PIPE financing for CASK will be 100% used to purchase IP tokens, committing to enter the 'Saylor Mode', with the buyback plan to be executed in the public market, continuing until November 16, 2025.
Earlier news reported that Story, in collaboration with NASDAQ-listed company Heritage Distilling (NASDAQ: CASK), has launched a $360 million $IP strategic reserve.
Arthur Hayes: HYPE has the potential for a 126-fold increase in the future.
Arthur Hayes stated during the WebX Summit that the Hyperliquid token (HYPE) has the potential for a 126-fold increase. The project plans to increase annual transaction fees to $258 billion by 2028 through a stablecoin expansion strategy.
It is predicted that by 2028, the supply of stablecoins will reach $10 trillion, with Hyperliquid capturing 26.4% of the market share, and the average daily trading volume (ADV) reaching $2.636 trillion, a significant increase compared to the current $11.9 billion. With a net trading fee rate of 0.03%, annual revenue is expected to reach $25.8 billion.
The current fully diluted valuation (FDV) of the HYPE token is $41.05 billion, with a projected terminal value of HYPE revenue estimated at $5.161 billion under a 5% discount rate.
Bloomberg: GALAXY, JUMP, and MULTICOIN seek to raise $1 billion to purchase SOL.
According to Bloomberg, GALAXY, Jump Crypto, and Multicoin Capital are seeking to raise $1 billion for the purchase of SOL.
U.S. publicly listed company Sharps Technology announced it is conducting a private placement of over $400 million to establish a SOL strategic reserve.
According to PRNewswire, NASDAQ-listed company Sharps Technology (STSS) announced it is conducting a private placement of over $400 million, planning to establish a digital asset reserve strategy with SOL as the main holding. The private placement investors include well-known institutions such as ParaFi, Pantera, FalconX, Phoenix Capital, among others.
The newly appointed Chief Investment Officer Alice Zhang stated that the Solana ecosystem is gaining institutional support, and now is the right time to establish digital asset reserve strategies. The private placement is expected to complete delivery on August 28.
B Strategy plans to raise $1 billion to establish a U.S. publicly listed BNB treasury company, with support from YZi Labs.
According to The Block, investment company B Strategy, focused on digital assets, announced plans to launch a NASDAQ-listed BNB treasury company, aiming to raise $1 billion. The yet-to-be-named BNB treasury company will be supported strategically by YZi Labs. A representative stated that in addition to providing financial support, YZi Labs will also provide ecosystem support by connecting ecological partners.
B Strategy stated that it will leverage its extensive layout in the Asia-Pacific region to acquire liquidity, market intelligence, and distribution channels, revealing that several well-known Asian family offices have joined as anchor investors.
YZi Labs representatives revealed to the media that the company expects to complete its NASDAQ listing and $1 billion fundraising plan within weeks.
DeFi Dev Corp announced it is conducting a $125 million equity financing for the expansion of SOL reserves.
According to Globe Newswire, U.S. publicly listed company DeFi Development Corp. (Nasdaq: DFDV) announced it is undertaking a $125 million equity financing agreement, with an issue price of $12.50 per share. The company will issue approximately 4.2 million shares of common stock and about 5.7 million pre-funded warrants, and the transaction is expected to complete on August 28.
The company will receive cash and locked SOL as consideration, and the funds will be used to purchase spot SOL and discounted locked SOL to expand its SOL reserve scale.
Hong Kong listed company Marco Digital issued an announcement on subscribing to WLFI fund equity: indirectly investing about HKD 3.925 million in ALT5.
Hong Kong listed company Marco Digital Technology (MOG Holding) issued a voluntary announcement on subscribing to the WLFI fund equity, disclosing that it recently invested $500,000 (approximately HKD 3.925 million) indirectly in NASDAQ-listed ALT5 Sigma Corporation by subscribing to a fund's member rights, which is co-participated by multiple global institutional investors and cryptocurrency venture capital firms, with World Liberty Financial as the lead investor.
Market dynamics.
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