Headline
▌Senator Warren again criticizes the Trump family for profiting from cryptocurrency and failing to fulfill the promise to reduce inflation
U.S. Democratic Senator Elizabeth Warren posted a video on platform X again criticizing Trump, accusing him of failing to fulfill his promise to reduce inflation, while at the same time the family's cryptocurrency business has increased his wealth by billions of dollars. She stated: "What is shocking to everyone is that Trump is actually a big liar; he did not lower grocery prices but instead played a 'red light-green light' game on tariffs, effectively increasing your shopping costs. Reports have indicated that the Trump family's holdings in the World Free Financial Company tokens surged in value significantly after the token was listed for trading, bringing them about $5 billion in paper wealth growth. Trump profited handsomely during his presidency, while you all have to pay higher costs. This is an act of betrayal, and we will never let him succeed."
▌This week's NFT transaction volume decreased by 22.65% to $104.5 million, marking one of the largest weekly declines in recent months.
According to CryptoSlam data, the NFT market transaction volume fell by 22.65% to $104.5 million in the past week, marking one of the largest weekly declines in recent months. The number of NFT buyers increased by 14.89% to 622,535, and the number of NFT sellers increased by 16.25% to 447,821. However, the number of NFT transactions decreased by 3.07% to 1,699,318. The transaction volume on the Ethereum network was $37.7 million, down 29.88% from the previous week. The transaction volume on the Polygon network was $15.7 million, down 17.43%. The transaction volume on the Mythos Chain network was $10.1 million, down 1.73%. The transaction volume on the BNB Chain network was $9.5 million, down 23.59%. The transaction volume on the Bitcoin network was $7.8 million, down 32.40%. The transaction volume on the Solana network was $5.1 million, down 6.81%.
Market conditions
As of press time, according to CoinGecko data:
BTC price is $110,494, with a 24-hour change of -0.2%;
ETH price is $4,289.84, with a 24-hour change of -0.3%;
BNB price is $861.34, with a 24-hour change of +1.0%;
SOL price is $202.46, with a 24-hour change of -0.6%;
DOGE price is $0.2167, with a 24-hour change of -0.2%;
XRP price is $2.82, with a 24-hour change of +0.2%;
TRX price is $0.3235, with a 24-hour change of -2.2%;
WLFI price is $0.2248, with a 24-hour change of +22.96%.
Policy
▌The Senate market structure bill proposal calls for the establishment of a joint committee of the SEC and CFTC to end the competition in the cryptocurrency sector.
A U.S. Senator has released the latest draft of an important cryptocurrency market structure bill, calling for the establishment of a digital asset joint advisory committee by the SEC and CFTC, bringing together regulatory agencies that sometimes treat crypto assets differently. Although this advisory committee only provides non-binding recommendations, each committee must issue a public statement explaining its decision on whether to take action whenever it submits findings or recommendations.
▌Trump became an FBI informant in the Epstein case.
U.S. House Speaker Johnson stated to CNN that Trump became an FBI informant in the Epstein case after rumors of Epstein's crimes first emerged. Johnson told reporters: "Trump did not say that Epstein's actions were a scam; it was a terrible, indescribable evil. He believes that too. When he first heard this rumor, he kicked him out of Mar-a-Lago. He was an FBI informant trying to expose the crimes." (Zhitong Finance)
▌The President of Belarus calls for strengthening cryptocurrency regulation to protect investors and the economy.
According to local media reports, Belarusian President Alexander Lukashenko urged the government to implement stricter regulations on the cryptocurrency industry. Reports indicate that Lukashenko warned that lax regulation is harming investor safety and the national economic interests. National audits found that about half of citizens' investments were transferred to foreign cryptocurrency platforms without returns, which the president condemned at a high-level government meeting. The inspection conducted by the National Regulatory Commission also found violations in the registration process of domestic financial platforms.
Blockchain applications
▌The first credit asset-backed securities utilizing blockchain technology by a national consumer finance company has been issued.
Ma Shang Consumer Finance launched the first financial blockchain management platform of national consumer finance companies at the '2025 Smart Expo · Digital Industry Ecological Conference.' Based on this platform, Ma Shang successfully issued the 'An Yi Hua 2025 Third Phase Personal Consumption Loan Asset-Backed Securities.' According to relevant personnel from Ma Shang, this is the first credit asset-backed securities using blockchain technology by a national consumer finance company. Future issuance of financial bonds, asset-backed securities, and other financial products will routinely use this platform's technology, continuously expanding the application boundaries of blockchain in the consumer finance sector. (Jin Shi)
▌Cryptocurrency compliance platform Kea completed a €6 million seed funding round.
The cryptocurrency compliance platform Kea announced the completion of a €6 million seed funding round with a post-money valuation of €40 million, led by a Swiss private investor whose specific name has not been disclosed. The company primarily provides compliance management services for cryptocurrencies, stablecoins, foreign exchange, SEPA, SWIFT, and IBAN accounts. The new funds will be used to apply for EMI licenses in the UK, UAE, and EU, while also developing stablecoin infrastructure on demand.
Cryptocurrency
▌RMRK founder: WLFI is the 'American contemporary mafia', has received a reply that tokens cannot be unlocked.
RMRK founder Bruno Skvorc stated on the X platform: 'I have received a reply from the Trump family's crypto project WLFI, the tokens cannot be unlocked, simply put, they stole my money because they are part of the Trump family, so I am powerless. They are the American contemporary mafia; no one can complain, no one can argue, and no one can sue; that's just how it is...' Previously, Skvorc mentioned that his address was mistakenly marked as high risk by the WLFI team, and the tokens have been locked.
▌An Ethereum Foundation-associated wallet transferred 4,000 ETH to a new address after being dormant for 9 years.
According to Onchain Lens monitoring, a wallet associated with the Ethereum Foundation (0x0f0...213) transferred 4,000 ETH to a new wallet (00xACA...3B9) after being dormant for 9 years, worth about $17.19 million.
▌Bitcoin mining difficulty has been increased by 4.89% to 136.04 T, setting a new historical high.
According to CloverPool data, the Bitcoin mining difficulty adjustment occurred at block height 913,248, with an increase of 4.89% to 136.04 T, setting a new historical high.
▌A whale that previously lost $35.84 million on long ETH has increased its BTC and ETH short positions, with a total position value of $200 million.
According to on-chain analyst Yu Jin's monitoring, a whale (0xa52) that previously lost $35.84 million on long ETH has now increased its BTC short position and added ETH short positions. This whale currently holds a short position worth $200 million, with an unrealized profit of $1.5 million. Specific positions: 25x leverage shorting 1,351 BTC, worth $150 million, with an opening price of $111,292 and a liquidation price of $114,770; 15x leverage shorting 11,800 ETH, worth $50 million, with an opening price of $4,278 and a liquidation price of $4,798.
▌Vitalik: The ideas for Ethereum's scalability and others are expected to be implemented while achieving key milestones in the short-term expansion roadmap.
Ethereum co-founder Vitalik Buterin stated on the X platform that the Ethereum team has performed excellently this year, contributing in various aspects to ensure the long-term scalability, decentralization, and resilience of Ethereum. All these ideas are expected to be ready for implementation while achieving key milestones in the short-term expansion roadmap. According to a retweet from Vitalik Buterin, Ethereum developers have proposed a minimal zkVM called 'leanVM' suitable for streamlining Ethereum, optimized for XMSS aggregation and recursion. Compared to Cairo, leanVM minimizes commitment costs with a four-instruction ISA, multi-linear STARK, and logup* lookup.
▌A certain whale replenished 1,354 ETH when it dropped to $4,282, currently still losing $841,000.
According to @ai_9684xtpa's monitoring, the address 0x54d...e6029 bought ETH at $4,710 and is now stuck, trying to save itself. Ten hours ago, when ETH dropped, it bought 1,354 ETH at $4,282 (about $5.8 million); after this increase, its average ETH price dropped to $4,543, currently still losing $841,000.
Important economic dynamics
▌Analysts predict the Federal Reserve may cut interest rates in September.
The U.S. Department of Labor reported on the 5th that in August, the unemployment rate rose to 4.3%, the highest in nearly four years. The worsening employment data has strengthened market expectations for interest rate cuts by the Federal Reserve, with analysts expecting the Fed to begin a new round of rate cuts in September. Data from the Chicago Mercantile Exchange's FedWatch tool released on the evening of the 5th showed that the weakness in the labor market has increased expectations for the Fed to cut rates by at least 25 basis points at the September monetary policy meeting, while also not ruling out the possibility of a 50 basis point cut. (CCTV News)
Golden Encyclopedia
▌What is a rug pull in cryptocurrency? How to identify it?
A 'rug pull' occurs when a team or developers withdraw support for a project, rendering the tokens held by investors worthless. Cryptocurrency scams are common in decentralized finance (DeFi) due to the lack of regulations governing the project's operations. Individuals or a group of developers create excitement around a cryptocurrency project to attract traders. As the excitement builds, many invest by buying tokens or minting non-fungible tokens (NFTs). Then, the developers suddenly sell off their holdings and disappear, leaving investors shocked and empty-handed. The sudden end of the project leads to a sharp drop in the token price, resulting in substantial losses for investors. However, as long as you understand what a 'rug pull' is in blockchain, you can identify the warning signs early. If you know the signs of a cryptocurrency 'rug pull,' you can spot potential scams before it’s too late. From checking the project team to analyzing token economics and community engagement, here are key steps to identify warning signs and make informed investment decisions: 1. Unknown or unverified developers; 2. Lack of liquidity lock; 3. Sell order restrictions; 4. Limited number of token holders with extreme price fluctuations; 5. Suspiciously high yields; 6. No external audits.
Imagine a crowded market where vendors sell various goods. A 'rug pull' is like a vendor setting up an impressive stall, promising valuable items to attract buyers. The vendor pre-sells these items at a high price. Just when the market is bustling, the vendor suddenly disappears, leaving an empty stall and worthless receipts. In the context of cryptocurrency, vendors can implement this fraud in various ways. One method is for fraudulent developers to introduce hidden vulnerabilities into the smart contract to control native tokens or steal cryptocurrency from investors. Secondly, developers can use a technique called dumping. Thirdly, scammers might implement 'rug pulls' by restricting sell orders.
