Today's news tips:
1. Next week's macroeconomic outlook: The power struggle between Trump and the Federal Reserve intensifies, and expectations of a 25 basis point rate cut are rekindled.
2. WLFI tokens are transferred to Solana via Chainlink. The 10 WLFI tokens transferred may be a small test.
3. Binance Alpha will launch Quack AI (Q) on September 2nd
4.WLFI: reserves the right to reject any proposed or approved proposal
5. zkLend Releases kSTRK Redemption and Withdrawal Announcement: The 21-Day Unstaking Process Has Been Completed
6. Ethereum Community Foundation launches BETH, the ETH proof-of-destruction token
7. Binance: Users holding at least 220 Alpha Points can claim the airdrop at 20:00 today
8. Web3 startups raised $9.6 billion in Q2, the second-highest amount raised in a quarter, with infrastructure projects attracting the majority of funding.
Regulation & Policy
The cryptocurrency market experienced a significant sell-off this week, following a strong performance the previous week. This wasn't entirely surprising, given declining volatility and the release of key data next week. Some relatively weak highs have been formed. Bitcoin is at risk of a double top and hasn't offered much to counter its effects, while Ethereum has retreated further after reaching a new high last Saturday. Ethereum's outlook is better than that of its "big brother," Bitcoin, but its performance will still depend on Bitcoin's performance. The following are key market observations heading into the new week:
At 9:00 PM on Wednesday, 2025 FOMC voting member and St. Louis Fed President Moussallem will deliver a speech on the U.S. economy and monetary policy.
At 22:00 on Wednesday, the US July JOLTs job vacancies and the US July factory orders monthly rate will be released;
At 1:30 a.m. on Thursday, Kashkari, a 2026 FOMC voting member and president of the Minneapolis Fed, will participate in a fireside chat.
At 02:00 on Thursday, the Federal Reserve will release the Beige Book on economic conditions;
At 20:30 on Thursday, the number of initial jobless claims in the United States for the week ending August 30 and the U.S. trade account for July will be released;
At 23:30 on Thursday, FOMC permanent voting member and New York Fed President Williams will deliver a speech at the New York Economic Club;
At 07:00 on Friday, Goolsbee, a 2025 FOMC voting member and president of the Chicago Fed, will deliver a speech;
At 20:30 on Friday, the U.S. unemployment rate in August, seasonally adjusted non-farm payrolls in August, and the average hourly wage annual and monthly rates will be released.
The continued weakness in the labor market will not only reinforce market expectations for a September rate cut, but will also rekindle expectations for a third 25 basis point rate cut this year. In his speech at the Jackson Hole conference, Powell emphasized that in the short term, inflation risks are tilted to the upside, while employment risks are tilted to the downside.
Wuhan police cracked a virtual currency dating scam and investment case, arresting 30 suspects
According to a news report from the People's Daily client forwarded by the Global Times official account, the Dongxihu Branch of the Wuhan Public Security Bureau in Hubei Province smashed a gang that committed telecommunications fraud. The suspects forged a "high-quality blind date girl" script to make friends and induced netizens to go to a fake platform to commit virtual currency investment fraud. A total of 30 criminal suspects were arrested. Currently, 27 people involved in the case have been criminally detained and 3 have been administratively detained. The police are further handling the case in accordance with the law.
According to Decrypt, Dutch and US law enforcement have shut down VerifTools, an online fake ID marketplace that sold forged documents for as little as $9 in cryptocurrency. The operation resulted in the seizure of 23 servers. The FBI determined that the marketplace generated approximately $6.4 million in revenue. Dutch authorities estimate that Veriftools' annual turnover is approximately €1.3 million (approximately $1.5 million), making it one of the world's largest providers of fake IDs.
The marketplace worked by requiring users to upload a passport photo and enter false data, which the website operators then used to generate fake IDs. FBI agents were able to order fake New Mexico driver’s licenses and pay for the forged IDs using cryptocurrency, though the specific cryptocurrency used has yet to be determined.
Project News
zkLend Releases kSTRK Redemption and Withdrawal Announcement: 21-Day Unstaking Process Completed
zkLend, the Layer 2 native money market protocol based on Starknet, released a kSTRK redemption and withdrawal announcement, stating that the 21-day unstaking process has been completed and most kSTRK holders can now withdraw STRK from the zkLend staking portal:
1. For kSTRK that has not yet been claimed from the Recovery Portal, once claimed, users will need to unstake and wait 21 days before redeeming them for STRK. The Recovery Portal will remain open for the next 6 months.
2. For users who staked directly to a zkLend validator through Voyager or Endurfi, they must manually unstake or transfer their delegation to another validator, but the exit queue does not apply in this case.
WLFI reserves the right to reject any proposed or approved proposal
World Liberty Financial (WLF Protocol), the Trump family's crypto project, stated in a governance statement that it reserves the right to reject any proposed or approved proposal that, if implemented, would constitute or create an unreasonable risk of violating the law (including any contractual obligations) or create a security risk (as defined in the WLF Charter). These decisions are made at the company's sole discretion and are final.
The WLF Protocol or any related protocols may experience a material adverse event (meaning any event that prevents the WLF Protocol or any related protocols from functioning normally and as intended for an extended period of time), or a security risk (meaning any event that causes the WLF Protocol to cease functioning or compromises the safe use of the WLF Protocol by users). During a material adverse event or security risk, governance control of the WLF Protocol will be fully vested in the multisig until normal WLF Protocol governance operations can be restored.
Binance Alpha to Launch Quack AI (Q) on September 2nd
Binance Alpha will list Quack AI (Q) on September 2nd. Trading on Alpha will open at 3:00 PM (UTC+8) on September 2nd, 2025, and futures trading will open at 3:30 PM (UTC+8) on September 2nd, 2025. Eligible users can claim the airdrop using Binance Alpha Points on the Alpha event page after trading opens.
SharpLink Launches Official ETH Dashboard to Support Treasury Performance Tracking
SharpLink, a Nasdaq-listed Ethereum treasury company, announced the launch of its official ETH Dashboard on the X platform to support tracking the performance of the company's Ethereum treasury reserves. The dashboard, updated weekly on Tuesdays, will disclose information including: ETH holdings (currently 797,704), average purchase price per ETH (currently $3,558), ETH NAV (net asset value), ETH concentration (ETH per 1,000 fully diluted shares), staking rewards, base mNAV, and company market capitalization.
On-chain data indicates that the WLFI token was transferred to the Solana blockchain via the Chainlink CCIP approximately four hours ago. This transfer involved 10 WLFI tokens, likely a small test run. WLFI project developer Dario Laverde responded to the community, stating that the WLFI token will be launched on the Solana blockchain.
According to previous news , WLFI will be launched on the Ethereum mainnet on September 1, and early investors will unlock 20%.
The Ethereum Community Foundation launches BETH, a proof-of-destruction token
The Ethereum Community Foundation has launched BETH, a proof-of-burn token for ETH, aiming to transform the underlying mechanism of ETH destruction into an on-chain tokenized form. Each BETH token represents ETH that has been verified removed from circulation, establishing a transparent and auditable destruction record. When a user sends ETH to the contract, the ETH is immediately forwarded to the destruction address, ensuring its permanent removal from circulation. Upon successful forwarding, the contract mints an equal amount of BETH tokens and sends them back to the sender, maintaining a 1:1 correspondence between ETH destroyed and BETH minted. Consensys CEO Joseph Lubin stated that ETH destruction will become a highly profitable activity, spawning new industries that will be developed around tokens such as BETH, BBETH, and BBBeth.
Binance: Users holding at least 220 Alpha Points can claim the airdrop at 20:00 today
According to Binance's official announcement, users holding at least 220 Binance Alpha Points will be eligible to claim the Binance Alpha airdrop starting at 8:00 PM ET. Tokens will be available on a first-come, first-served basis until the airdrop pool is fully distributed or the airdrop ends. More details will be announced soon.
Analysis & Opinions
Given the Trump administration's public support and actions for cryptocurrencies, some investors are beginning to question whether gold can still serve as the world's favorite hedge asset. André Dragosch, Head of European Research at Bitwise Asset Management, stated that gold works best as a hedge during stock market crashes, while Bitcoin is more resilient when the US bond market comes under pressure. Historical data and industry research support this view: gold typically rises during bear markets, while Bitcoin performs better during Treasury sell-offs. By 2025, gold prices had risen by over 30%, while Bitcoin had risen by approximately 16.46%, reflecting the distinct roles that the two play as investors weigh rising yields, stock market volatility, and Trump's support for cryptocurrencies.
Adam, a macro researcher at Greeks.live, published an English community briefing, stating: "Community members have different views on the market. On the one hand, they acknowledge the bearish sentiment of the current adjustment, while on the other hand, they remain cautiously optimistic about the long-term bull market. Most traders are paying attention to the opening price level of last month and discussing whether this adjustment represents a temporary correction or a more significant turning point. One trader insists that the bull market is not over yet and only expects adjustments and fluctuations. Although the current downward trend is puzzling when other assets are hitting record highs, the adjustment is attributed to market fatigue with BTC rather than fundamental issues. Some people regard it as potential manipulation or coincidental spot selling."
OKX Star: OKX never raises funds from users and is only a technical service provider for users’ Earn
OKX founder and CEO Star stated in a post on the X platform that the asset size of OKX Earn has exceeded tens of billions of US dollars. OKX never raises funds from users, but only serves as a technical service provider for users' Earn, helping users connect with staking on various chains, various DeFi protocols, and institutions with borrowing needs.
According to Yahoo Finance, Kevin O'Leary, the star investor on CNBC's reality show "Shark Tank," has recently disclosed his personal portfolio, revealing that Bitcoin and crypto-related assets account for over 10% of his holdings, while gold accounts for approximately 5%. Furthermore, the financial app Beanstox, backed by Kevin O'Leary, now allows users to directly invest in Bitcoin (IBIT) and gold (IAU) in addition to accessing ETFs.
Ethereum co-founder Joseph Lubin posted on the X platform that he fully agreed with Bitmine Chairman Tom Lee's views. Wall Street will stake ETH because they currently pay for infrastructure, and Ethereum will replace the many isolated stacks they operate. For example, JPMorgan Chase may operate multiple isolated stacks from all the banks it has acquired and absorbed over the years. They need to fully understand the rules of the Ethereum game because this game will be called... finance. Wall Street needs to become a traditional financial company operating on a decentralized track, which means staking, running validators, operating L2/L3, participating in DeFi, and writing smart contract software for protocols, processes, and financial instruments.
This will be a relatively easy transition for JPMorgan Chase, as they have been exploring and using Ethereum technology to build their private blockchain network since 2014-2015. Many other financial institutions also have extensive experience with Ethereum. The price of ETH could increase 100-fold or more in the future, and Ethereum/ETH will overturn the monetary foundation of Bitcoin/BTC.
According to the Financial Times, as Bitcoin prices soar, wealthy young entrepreneurs are sparking a global luxury tourism boom, with a growing number of private jet and ultra-luxury cruise operators beginning to accept cryptocurrency payments. According to McKinsey, people aged 30 to 40 will spend $28 billion on luxury travel in 2023, a figure projected to reach $54 billion by 2028.
Flexjet Chairman Kenn Ricci said "huge" demand from young, wealthy customers prompted Flexjet's FXAIR subsidiary to accept cryptocurrency payments. FXAIR offers flights from Farnborough Airport near London to New York City for around $80,000. Ricci said Flexjet has seen a "significant" increase in bookings in recent months from "young entrepreneurs in the bitcoin space who are flying further and want bigger aircraft. We save them time, which is the most precious luxury."
Luxury cruise company Virgin Voyages now offers $120,000 annual passes for purchase with cryptocurrency. Meanwhile, SeaDream Yacht Club, which operates two ultra-luxury yachts with a near-50:50 crew-to-passenger ratio, began accepting Bitcoin shortly after Trump began his second term. Boutique hotel groups including Kessler Collection Hotels in the US and Pavilions Hotels & Resorts in Hong Kong also accept tokens like Dogecoin, Litecoin, and Ethereum.
Institutional holdings
Hyperscale Data to Sell Common Stock to Raise $125 Million to Purchase BTC and XRP
According to PRNewswire, Hyperscale Data, a diversified holding company listed on the New York Stock Exchange, announced the launch of an "At-The-Market (ATM)" stock issuance plan, intending to sell common stock to raise US$125 million. The relevant common stock will be issued by Wilson-Davis & Co., Inc. and will serve as the sales agent. Part of the proceeds will be used to purchase Bitcoin and expand its Michigan data facilities, another part will be used to purchase XRP, and the remaining proceeds will be used as working capital and general corporate purposes, which may include repaying, refinancing, redeeming or repurchasing future debt or capital stocks.
According to an announcement from the Hong Kong Stock Exchange, China Financial Leasing Group, a Hong Kong-listed company, released its interim results report for the period ending June 30, 2025, disclosing that the continued weakness of the US dollar triggered the strengthening of Bitcoin. The company has begun to pay attention to the cryptocurrency market and has begun investing in the cryptocurrency industry, especially related exchange-traded funds that hold physical cryptocurrencies rather than synthetic products. Its current major investments include: CSOP Hong Kong Dollar Money Market ETF, BlackRock iShares Bitcoin Trust ETF, Hua Xia Bitcoin ETF, and iShares Ethereum Trust ETF.
Important data
CryptoSlam data shows that NFT market transaction volume fell 8.53% to $129.6 million over the past week. The number of NFT buyers increased by 18.06% to 541,831, while the number of NFT sellers increased by 17.05% to 385,179. The number of NFT transactions increased by 11.96% to 1,814,788.
Ethereum network transaction volume was $54.5 million, down 8.24% from the previous week. Polygon network transaction volume was $18.9 million, up 16.12% from the previous week. BNB Chain network transaction volume was $13.4 million, down 34.77%. Mythos Chain network transaction volume was $10.2 million, up 4.71%. Bitcoin network transaction volume was $7.7 million, down 30.28%.
This week's high-value transactions include:
- CryptoPunks #4619 sold for 96 ETH ($446,764)
- CryptoPunks #2400 sold for 73.5 ETH ($324,076)
- CryptoPunks #5273 sold for 65 ETH ($283,399 USD)
- CryptoPunks #1721 sold for 60 ETH ($274,171)
- CryptoPunks #6373 sold for 55 ETH ($261,046)
The hacker who stole $81.5 million again transferred 4,320 ETH via Tornado Cash
According to on-chain analyst Ember, a year later, the hacker who stole $81.5 million from Orbit Chain in early 2024 again transferred 4,320 ETH ($18.81 million) via Tornado Cash. The hacker purchased most of the stolen assets at $2,301 and stored them in ETH. The price of ETH has now doubled since then. Therefore, while the hacker has already laundered 17,242 ETH ($66.35 million) via Tornado Cash, the remaining assets still remain worth $61.6 million. This represents a $46.5 million increase from the original $81.5 million stolen. The hacker's address currently holds 9,511 ETH ($41.6 million) and 20 million DAI.
Longling Capital bought 7,000 ETH, worth approximately $30.67 million
According to on-chain analyst Ember’s monitoring, Longling Capital bought 7,000 ETH: 20 million USDT was transferred to Binance in the past 5 days, and 7,000 ETH (US$30.67 million) was withdrawn from Binance 10 minutes ago.
According to a recent report from Outlier Ventures, Web3 startups raised $9.6 billion in venture capital in the second quarter of 2025, the second-largest quarterly funding ever, despite the number of funding rounds falling to a two-year low. This indicates that the market is maturing, with investors allocating more capital to fewer projects. Web3 funding is shifting from hype-driven activity to targeted, enduring investments, with investors favoring infrastructure and established teams over scale.
Series A funding saw a strong rebound, with the median funding amount climbing to $17.6 million, the highest level in over two years. The median seed funding amount also rose to $6.6 million. Infrastructure projects such as validator liquidity, rollups, and computing networks attracted the majority of funding, with median funding amounts ranging from $70 million to $112 million.
