Headline
▌U.S. Commerce Secretary: The Department of Commerce will begin publishing statistics on the blockchain.
U.S. Commerce Secretary Lutnik: The Department of Commerce will begin publishing statistics on the blockchain. We are finalizing the details of using blockchain for GDP statistics.
▌The Federal Reserve first responds to Trump's firing of Governor Cook: will respect judicial rulings.
According to CCTV News, on the 26th local time, a Federal Reserve spokesperson issued a statement regarding President Trump's dismissal of Federal Reserve Governor Lisa Cook. The statement said that Congress passed the Federal Reserve Act, which stipulates that the term of governors is fixed for the long term, and the President can only remove them for 'just cause.' The long-term term and removal protection of governors is an important safeguard to ensure that monetary policy decisions are based on data, economic analysis, and the long-term interests of the American people. The Federal Reserve will continue to fulfill its legally mandated responsibilities. The statement mentioned that Cook has indicated through her lawyer that she will seek a judicial ruling. The Federal Reserve will continue to comply with any court ruling. Shortly thereafter, Trump responded that he would also comply with the court ruling.
Market
As of the time of writing, according to CoinGecko data:
The price of BTC is $111,861, with a 24-hour change of +1.5%;
The price of ETH is $4,603.05, with a 24-hour change of +4.9%;
The price of BNB is $864.64, with a 24-hour change of +3.0%;
The price of SOL is $195.90, with a 24-hour change of +4.8%;
The price of DOGE is $0.2185, with a 24-hour change of +4.1%;
The price of XRP is $3.01, with a 24-hour change of +5.3%.
The price of TRX is $0.352, with a 24-hour change of +2.7%.
Policy
▌The U.S. CFTC will soon be managed solely by acting chair Caroline Pham.
Democratic Commissioner Kristin Johnson of the U.S. Commodity Futures Trading Commission (CFTC) will resign on September 3, after which the number of CFTC commissioners will be reduced to just acting chair Caroline Pham. Trump's nominee Brian Quintenz is awaiting Senate confirmation, and his start date is uncertain. If Quintenz formally replaces Pham as chair, Pham plans to leave and return to the private sector. The CFTC is one of the main regulatory bodies for cryptocurrency in the U.S., and having only one member could pose legal challenges to regulatory policies and increase uncertainty in industry regulation.
▌U.S. cryptocurrency policy advancement may be affected by Senator Warner's resistance.
U.S. Senator Mark Warner (Democrat from Virginia) may become a major obstacle to the cryptocurrency industry's push for legal protection for software developers. Warner is concerned about hacking and money laundering issues in the decentralized finance (DeFi) sector and opposes the provisions in the Digital Asset Market Clarification Act that grant legal exemptions to developers. Although Warner previously supported stablecoin regulatory legislation and was rated as a pro-crypto Democrat by the industry, his position on the Senate Banking Committee could affect the advancement of market structure legislation. The cryptocurrency industry is closely monitoring Warner's stance in the latest legislative negotiations to advocate for establishing legal protection barriers for developers.
▌Global regulators urge the U.S. SEC to strengthen its oversight of tokenized stocks.
According to market news released by CryptOpus: Global regulators urge the U.S. Securities and Exchange Commission (SEC) to strengthen its oversight of tokenized stocks.
▌Trump threatens to impose high tariffs on countries implementing digital taxes.
U.S. President Trump posted on social media: 'I warn all countries implementing digital taxes, legislation, rules, or regulations that unless these discriminatory measures are removed, I, as President of the United States, will impose substantial additional tariffs on exports from these countries to the United States and impose export restrictions on our highly protected technology and chips. Please respect the United States and our outstanding technology companies, or face the consequences!'
▌The State Council: Strengthen the overall planning of intelligent computing power and support innovation in AI chips and software ecosystem cultivation.
The State Council issued opinions on deepening the implementation of the 'Artificial Intelligence +' action. The opinions propose strengthening the overall planning of intelligent computing power, supporting innovation in artificial intelligence chips and enabling software ecosystem cultivation, accelerating breakthroughs in ultra-large-scale intelligent computing cluster technologies and engineering implementation. Optimize the layout of national intelligent computing resources, improve the national integrated computing power network, fully leverage the role of the 'East Data West Computing' national hub, and enhance coordination of data, computing, electricity, and network resources. Strengthen the interconnection and supply-demand matching of intelligent computing power, innovate the operational model of intelligent computing power infrastructure, encourage the development of standardized, scalable cloud computing services, and promote the supply of intelligent computing power to be inclusive, easy to use, economically efficient, and green and safe.
Blockchain applications
▌MetaMask launches social login feature to simplify the process for users to create and manage MetaMask wallets.
MetaMask announced the launch of a social login feature to streamline the process for users to create and manage MetaMask wallets. Users can create, back up, and restore wallets using their Google or Apple accounts. No single entity, even MetaMask, can access all the information needed to retrieve the user's key recovery phrase (SRP), thereby maintaining the self-custody feature of their wallet. Only the user's social credentials combined with their unique password can ultimately unlock the SRP on the local device.
▌Gemini surpassed Coinbase in downloads in the U.S. iOS app store.
According to market news released by Cointelegraph: Gemini surpassed Coinbase in downloads in the U.S. iOS app store after launching its XRP Mastercard. Gemini is currently ranked 16th, while Coinbase is ranked 20th.
▌Donald Trump Jr.'s venture capital fund has invested tens of millions of dollars in Polymarket.
According to AXIOS, the prediction market Polymarket has received an investment from Donald Trump Jr.'s venture capital fund. Donald Trump Jr. joined the venture capital firm 1789 Capital last year, investing tens of millions of dollars in Polymarket. Recently, Polymarket has been valued over $1 billion by Founders Fund. Donald Trump Jr. will also join Polymarket's advisory board.
▌CoinList announces the launch of CoinList Alpha.
CoinList announced the launch of a private portal for qualified investors, CoinList Alpha, which offers investment opportunities ranging from seed rounds to private placements for crypto treasury companies. The first transaction is for $STSS PIPE (Sharps Technology DAT). CoinList Alpha breaks the traditional limitation of only being open to venture capital and institutions, allowing more qualified investors to participate in investments at various stages of startups while helping companies reach a broader pool of angel investors.
▌YZi Labs announced an investment in USD.AI.
According to official news, YZi Labs announced a strategic investment in the AI infrastructure financial protocol USD.AI. USD.AI is a protocol that provides hardware-supported financing and currently has a total value locked (TVL) of over $62 million.
Cryptocurrency
▌Trump's media technology group plans to spend $6.42 billion to acquire CRO Digital.
Yorkville Acquisition Corp. (NASDAQ: YORK), Trump's Media and Technology Group (NASDAQ, NYSE Texas: DJT), and Crypto.com announced that they have reached a final agreement on a business merger aimed at establishing Trump Media Group CRO Strategy, Inc., a digital asset reserve company focused on acquiring the native token CRO of the Cronos ecosystem. Yorkville Acquisition Corp. is a special purpose acquisition company (SPAC) established by Yorkville Acquisition Sponsor LLC ('Yorkville'). After the merger is completed, Trump Media Group CRO Strategy will be jointly held by Yorkville, Trump Media, and Crypto.com as founding partners. The anticipated funding sources for this digital asset reserve company include: $1 billion worth of CRO (6,313,000,212 CRO, approximately 19% of the total market capitalization of CRO as calculated at the time of the announcement), $200 million in cash, $220 million in cash from warrants, and a $5 billion equity credit line provided by Yorkville affiliate YA II PN, Ltd., totaling $6.42 billion. This will make it the first and largest publicly listed CRO reserve company. To demonstrate their long-term commitment to the Trump Media Group CRO Strategy, Yorkville, Trump Media, and Crypto.com agreed to implement a one-year mandatory initial lock-up period for their founding equity after the merger is completed, with gradual release according to a three-year schedule.
▌Trump's media technology group will integrate the Crypto.com wallet and introduce the CRO token.
According to market news, Trump's media technology group will integrate the Crypto.com digital wallet and will integrate the CRO token into the Truth Social and Truth+ platforms.
▌BlackRock's Ethereum spot ETF purchased 65,900 Ethereum on August 25.
According to @Cointelegraph, BlackRock's Ethereum spot ETF purchased 65,900 Ethereum (ETH) on August 25, valued at $314.9 million.
▌Goldman Sachs currently holds $470 million worth of Bitcoin.
According to market news released by @pete_rizzo_, Goldman Sachs, with an asset management scale of $3 trillion, purchased $194 million worth of Bitcoin (BITCOIN), and the value of Bitcoin held by the group has now reached $470 million.
▌Bitwise submitted a Chainlink ETF application to the U.S. SEC.
Cryptocurrency asset management company Bitwise submitted the Chainlink ETF application documents (S-1 form) to the U.S. Securities and Exchange Commission (SEC).
▌SharpLink increased its holdings by 56,533 Ethereum, bringing its total holdings to 797,704 ETH.
According to an official announcement, SharpLink acquired 56,533 ETH at approximately $4,462. As of August 26, 2025, SharpLink holds 797,704 ETH, valued at approximately $3.7 billion.
▌KindlyMD announces $5 billion equity plan to advance Bitcoin treasury strategy.
KindlyMD announced the launch of a $5 billion 'At-The-Market' (ATM) equity issuance plan. The company stated that the funds raised will be used to advance its Bitcoin treasury strategy, working capital, acquisitions of companies/assets/technologies, capital expenditures, and other investments.
▌Binance stablecoin saw an inflow of $1.65 billion in a single day, while Ethereum withdrawals approached $1 billion.
CryptoQuant data shows that Binance's stablecoin saw an inflow of $1.65 billion in a single day, while Ethereum withdrawals approached $1 billion. This is the second time this month that net inflows of stablecoins have exceeded $1.5 billion, indicating that the spot market is entering a new round of funding.
▌Canary has submitted an S-1 application for the TRUMP ETF to the U.S. SEC.
According to market news, Canary has submitted an S-1 application for the TRUMP ETF to the U.S. SEC.
▌Monex is considering issuing a stablecoin pegged to the yen in Japan.
According to Tokyo Television: Monex Securities is considering issuing a stablecoin pegged to the yen in Japan. Monex Chairman Matsumoto stated that the company is considering acquiring a European cryptocurrency company, with an announcement expected in 'a few days.'
▌BIT Mining launched a dollar stablecoin DOLAI on Solana.
Cryptocurrency infrastructure company BIT Mining Limited (NYSE: BTCM) today announced the launch of DOLAI, a dollar-backed stablecoin designed to connect AI agents, merchants, consumers, and institutional financial institutions on the Solana chain, with plans to expand to broader multi-chain interoperability. DOLAI is launched in collaboration with Brale Inc. ('Brale').
▌CEA Industries' BNB reserve holdings have increased to over 350,000.
NASDAQ-listed CEA Industries announced that its BNB reserves have increased by more than 150,000, bringing its total holdings to over 350,000.
▌Arbitrum multi-signature wallet deposited 13.105 million ARB into Coinbase Prime.
According to on-chain analyst Yu Jin's monitoring, an Arbitrum multi-signature wallet deposited 13.105 million ARB (approximately $6.91 million) into Coinbase Prime. This wallet received 250 million ARB from the Arbitrum DAO treasury wallet 10 months ago and has been gradually transferring ARB to Coinbase Prime over the past three months. A total of 38.434 million ARB (approximately $16.68 million) has been transferred out, with an average price of $0.43.
▌The Wisconsin Investment Board increased its holdings in MSTR stock by $2 million.
The Wisconsin Investment Board (managing $41 billion in assets) has just increased its holdings in Strategy $MSTR stock by $2 million. It currently holds 132,202 shares valued at over $45.4 million.
Important economic dynamics
▌Trump states he may visit China this year or as soon as possible, the Foreign Ministry responds.
Foreign Ministry spokesperson Guo Jikun hosted a regular press conference. Guo responded to Trump's statement about visiting China this year or as soon as possible, saying that China consistently handles and promotes Sino-U.S. relations based on mutual respect, peaceful coexistence, cooperation, and win-win principles, while firmly safeguarding its own sovereignty, security, and development interests. "We hope the U.S. side will move towards us to promote stable, healthy, and sustainable development of Sino-U.S. relations," Guo pointed out that high-level diplomatic exchanges play an irreplaceable strategic leading role in Sino-U.S. relations, and the leaders of both countries maintain close interaction and communication. (The Paper)
▌Fed's Barkin: If the economy runs moderately, interest rates are expected to be adjusted moderately.
Fed's Barkin stated that given he expects little change in economic activity for the remainder of the year, interest rates will undergo moderate adjustments. 'I see the economy running moderately. If the economy runs moderately, it means interest rates will also be adjusted moderately,' he said, 'I am not sure if the economy will really develop so moderately. We'll have to wait and see. So this is my prediction, but predictions can change.' Barkin declined to specify his preference for action in September. 'I know there are three and a half weeks until the next meeting, and I will make the best judgment I can based on all information on that day.'
▌Trump: There is already a candidate to replace Federal Reserve Governor Cook.
U.S. President Trump stated that he has someone in mind to succeed Federal Reserve Governor Lisa Cook, whom he is attempting to remove. Trump said at a cabinet meeting, "I think we have narrowed it down to some very good candidates. In fact, I probably already have one in mind. We are actually in touch with a lot of people who will be involved in this decision."
▌Cook remains a Federal Reserve Governor and can still participate in meetings until a ruling is made.
"Cook has indicated through her private lawyer that she will immediately challenge this action in court and seek a judicial ruling to confirm her right to continue serving as a Fed governor confirmed by the Senate," a Federal Reserve spokesperson said. "The Federal Reserve will continue to comply with court rulings as always." The Fed's statement indicates that from the central bank's perspective, Cook's status as a governor has not changed, and she can still participate in meetings unless a court ruling is made before the next meeting. The Federal Reserve's next interest rate decision meeting is scheduled for September 16-17, while Trump has been pressuring for significant interest rate cuts.
▌Trump: (Regarding the Federal Reserve's statement on Cook) I will comply with the court ruling.
U.S. President Trump: (Regarding Federal Reserve Governor Cook) We are ready for a legal battle. Cook seems to have violated regulations. We need 100% clean and honest people. (Regarding the Federal Reserve's statement on Cook) I will comply with the court ruling.
▌White House Economic Council Director: Trump's firing of Cook may lead to rising inflation and long-term interest rates in the U.S.
White House Economic Council Director Brainard stated that Trump's firing of Federal Reserve Governor Cook may lead to rising inflation and long-term interest rates in the U.S.
▌The latest dramatic events between Trump and the Federal Reserve have reignited market concerns.
Swissquote Bank analyst Ipek Ozkardeskaya stated that Trump's firing of Federal Reserve Governor Lisa Cook has left the market in a tense state, preventing the dollar from rebounding, as people expect Cook to be replaced by a stubborn rate cutter. Cook had previously spoken candidly about the impact of tariffs on inflation, indicating that tariffs could drive up prices and force policymakers to keep interest rates higher for a longer period, complicating the Federal Reserve's work. This dramatic event of firing Cook has reignited concerns about the Fed's independence, thereby undermining market confidence in the U.S. The steepening U.S. Treasury yield curve reflects that people believe short-term rate cuts will lead to long-term inflation rising.
Golden Encyclopedia
▌What is a Bitcoin flash crash?
A Bitcoin flash crash refers to a sudden and sharp decline in the market price of BTC that lasts for a very short duration, after which the price begins to recover. The emergence of unique market conditions causes fluctuations in the market price of leading cryptocurrencies. Typically, the reason behind a flash crash is a large number of sellers (referred to as whales) deciding to suddenly sell Bitcoin and inject a large supply into the market. This can overwhelm buyers and potentially lead to losses of billions of dollars in just a few minutes. In recent years, BTC flash crash events have occurred frequently, highlighting that despite BTC being a strong cryptocurrency asset, the volatility risk in cryptocurrencies still exists. Although the cryptocurrency market has a scale of trillions of dollars, it is still maturing. It is crucial for new investors in this field to understand the reasons behind BTC price crashes. Without this knowledge, witnessing such events can have devastating consequences and lead to making incorrect, emotional trading decisions instead of insightful and profitable investments. Traditional stock markets have built-in circuit breakers that temporarily halt trading when assets or indices fluctuate beyond a certain range. The BTC market lacks these circuit breakers, making it difficult to control rapid market declines.
