1. The White House Economic Council Director stated that the Federal Reserve is very likely to cut interest rates by 25 basis points at its September meeting. Discussing Trump’s dismissal of Federal Reserve Board member Lisa Cook, he said this is an unprecedented attack on the Fed, which could lead to rising inflation and long-term interest rates. Federal Reserve Chairman Powell's remarks are based on facts and present strong arguments. U.S. Secretary of Commerce Rutnick stated that interest rates should be lowered.
2. Trump publicly stated that he has fired Federal Reserve Board member Lisa Cook, to which Cook responded, 'You have no authority to dismiss me; I will not resign.' This unprecedented move has heightened uncertainty regarding the Fed's independence and policy path ahead of the September meeting, leading to a weaker dollar, increased risk aversion, and threats to impose tariffs on countries implementing digital taxes or regulations to protect American tech companies.
3. Aave founder Stani.eth posted on X platform stating that Aave V 4 is about to be launched, and it is reported that the Aave v 4 codebase has been released to all DAO service providers.
4. According to on-chain analyst Yujin's monitoring, YGG conducted a $1 million YGG token buyback: they deposited 1 million USDT into Binance the day before yesterday, and then withdrew 5.873 million YGG from Binance last night, with an average purchase price of $0.17. The buyback funds are likely sourced from their first self-developed game, LOL Land, which has generated up to $1 million in revenue over the past 30 days.
5. Opinion: Tom Lee, chairman of the BitMine board, shared the views of his fund analyst Mark Newton, stating that ETH currently has a good risk-reward ratio and is expected to bottom out at $4,300 in the next few hours before rebounding to a new high, with a target price range of $5,100 to $5,400-$5,450.
6. Opinion: Liquid Capital (formerly LD Capital) founder Yi Lihua stated that during the process of Ethereum's price rising from $1,400 to $4,900, it has experienced multiple pullbacks before rising again. Currently, the pullback to around $4,100 and $4,300 may be the best buying point.
7. Trading platforms Robinhood and Strategy failed to be included in the S&P 500 index, causing their stock prices to drop.
8. Orderly proposes to allocate 60% of net transaction fees to ORDER buybacks and adjust the reward mechanism.
9. The Resolv Foundation has launched a buyback plan, with the initial allocation amounting to 75% of core protocol fees.
10. Trump Media Group, Cryptocom, and SPAC company Yorkville have announced a business combination agreement to jointly establish Trump Media Group CRO Strategy Inc., raising approximately $6.42 billion to create a CRO digital asset treasury company. This round of financing includes $1 billion worth of CRO, $200 million in cash, $220 million in enforced warrants, and a $5 billion equity credit facility. The new company will focus on large-scale purchases and staking of CRO, deploying validator nodes, earning staking rewards, and reinvesting to enhance capital efficiency and build a digital economy infrastructure centered around CRO.
11. Opinion: The essence of the conflict between Wall Street and crypto assets and the latest dynamics is a power defense battle due to cognitive lag. 75% of fund managers refuse crypto assets because of the failure of traditional valuation frameworks and to maintain the privileges of financial intermediaries. However, the crypto industry has reshaped the Washington landscape through $94 million in political donations, promoting the (GENIUS Act) and gaining Trump's support, exposing traditional finance's deep fears of power restructuring. The necessity for returns will dismantle the resistance front; the Federal Reserve's interest rate cuts exacerbate traditional revenue shrinkage, leading to a surge in institutional demand for staking rewards. If the SEC approves staking ETFs, the institutional market, which accounts for 89% of large Bitcoin transactions and has a $200 million underwriting fee incentive, will force waiting institutions (like JPMorgan) to enter the market, reshaping the competitive landscape.
12. The cost for traditional companies to enter the RWA market is approximately 3 million to 6 million RMB for a single issuance, with the brokerage channel fee (2 million to 3 million) being the highest, followed by legal compliance (100,000 to 200,000) and technology onboarding (500,000 to 800,000). Fundraising and QFLP channel fees are charged as a percentage of the raised amount (1% to 5%). Long-term costs include license application fees (e.g., over 1.5 million for Hong Kong License No. 1, tens of millions for VASP licenses), annual maintenance (audit/legal fees over 200,000/year), and technical operation and maintenance (100,000 to 200,000/year), constituting ongoing expenses, with small and medium-sized enterprises likely exceeding 15% of costs.
13. According to Finance Feeds, the World Federation of Exchanges (WFE) has called on global regulators to address the risks posed by unregulated brokers and crypto asset trading platforms regarding stock tokenization. The organization has written to the U.S. Securities and Exchange Commission's cryptocurrency working group, the Financial Technology Working Group of the International Organization of Securities Commissions, and the European Securities and Markets Authority, emphasizing concerns over investor protection and market integrity. The WFE noted that while such tokens mimic the performance of U.S. stocks, they often lack the shareholder rights and protections associated with traditional stocks, which may lead to regulatory arbitrage, legal uncertainty, and a lack of transparency, undermining public confidence in regulated markets. Key issues include liquidity fragmentation, retail investor rights being compromised, insufficient risk disclosure from platforms, as well as custody and legal recourse risks. The WFE urges regulators to take four measures: apply existing regulations equally to tokenized and traditional instruments, ensure consistent disclosure and settlement standards, enhance international regulatory coordination, and clarify ownership and custody legal frameworks.
