Today's news tips:
Trump announces dismissal of Fed Governor Cook
Bitlayer announces BTR token economics: 40% for ecosystem incentives, 7.75% for node incentives
WLFI starts the token unlocking function, and 20% can be claimed starting from September 1st
B Strategy to Establish BNB Funding Company with Support from YZi Labs, Aiming to Raise $1 Billion
Deribit: About $15 billion in Bitcoin and Ethereum options will expire this Friday
Policy & Regulation
Trump announces dismissal of Fed Governor Cook
US President Trump announced the immediate removal of Federal Reserve Board Governor Lisa D. Cook, pursuant to Article II of the US Constitution and the Federal Reserve Act of 1913, as amended. The removal stemmed from allegations of false information in mortgage agreements. According to a criminal referral report filed by the Federal Housing Finance Agency on August 15, Cook's declarations of primary residence in Michigan and Georgia, respectively, in separate documents, were considered fraudulent and potentially criminal. This incident raises questions about Cook's integrity and competence as a financial regulator.
US President Trump announced on social media that he would take tough measures against countries that implement digital taxes, digital services legislation, or digital market regulations. He accused these policies of being designed to harm or discriminate against US tech companies while giving special treatment to large Chinese tech companies. Trump warned that if these discriminatory policies are not lifted, he would impose additional tariffs on exports from the relevant countries and restrict the export of US technology and chips. He stressed that US tech companies are no longer the world's "piggy bank" or "doormat," and called on all countries to respect the US and its tech companies or face consequences.
Project News
Bitlayer announces BTR token economics: 40% for ecosystem incentives, 7.75% for node incentives
According to Bitlayer's official announcement, the initial public offering (TGE) of the BTR token is about to begin. BTR is the governance token of the Bitlayer ecosystem, with a fixed total supply of 1 billion and an initial circulation of 261.6 million (26.16% of the total supply). The token will be minted on the Bitlayer network and distributed via the Ethereum mainnet and the BNB Smart Chain, enabling cross-chain compatibility. BTR token uses include staking and node voting, on-chain governance, and a fee distribution mechanism. The token distribution plan is as follows: 40% for ecosystem incentives, 20.25% for investors and advisors, 12% for the core team, 11% for public distribution, 7.75% for node incentives, 6% for the treasury, and 3% for liquidity. Previously, Binance Alpha and Binance Futures announced that Bitlayer (BTR) will be listed on August 27th.
Stader (SD) will be listed on the Bithumb Korean Won trading market
According to Bithumb's announcement, Stader (SD) will officially launch on the Korean won trading market on August 26, 2025. The supported network is Ethereum, and deposits on other networks are not currently supported.
According to Orderly Community Proposal #2, the project plans to allocate up to 60% of net transaction fees to regular buybacks of ORDER tokens, split into two parts: 50% to stakers in the form of esORDER rewards (with linear vesting over three months), and 50% to a community governance wallet, with governance subsequently deciding how to use the tokens (e.g., burn, liquidity bootstrapping, or incentives). Furthermore, the existing USDC-based staking rewards system will be replaced, allowing stakers to claim their existing USDC funds and retain their equity. The VALOR mechanism will also be adjusted to be linked to esORDER rewards, ensuring stakers' equity is preserved during the transition.
Users holding at least 200 Binance Alpha Points can claim an airdrop of 1,600 TOWN tokens.
Binance Alpha will be the first exchange to list Alttown (TOWN), with trading set to begin on August 26, 2025, at 3:00 PM (UTC). During the promotional period, users holding at least 200 Binance Alpha Points can claim an airdrop of 1,600 TOWN tokens. This airdrop requires 15 Alpha Points.
According to an announcement from the Hong Kong Stock Exchange, Ruihe Digital Intelligence, a Hong Kong-listed company, issued a voluntary announcement to expand its revenue sources by developing cryptocurrency business. The announcement disclosed that the company plans to conduct cryptocurrency business through the services provided by Bitmain. The specific form is cloud mining services and Bitcoin mining rewards distributed according to agreed periods. It is reported that Bitcoin mining will be an independent business segment of Ruihe Digital Intelligence.
According to Caijing Story Collection, Feng Dian, the former general manager of Kuaishou's e-commerce service provider operations center, exploited his position to collude with suppliers to embezzle company subsidies totaling 140 million yuan, setting a new record for corruption at a major company. Feng Dian's group obtained subsidies through fraudulent applications and then laundered the funds using offshore virtual currency trading platforms before transferring them back to RMB. Ultimately, Feng Dian and seven others were sentenced for embezzlement and ordered to surrender over 90 bitcoins.
According to Emilio (Aave's VP of Engineering), the Aave v4 codebase has been officially introduced to all DAO service providers, marking a significant milestone in the protocol's development. Aave founder Stani.eth also stated that Aave v4 will be launched soon. Related reading: Aave V4 Explained: How Can Lending Leaders Rebuild Their Moats?
Market News: CFTC Acting Chair Caroline Pham will join MoonPay after the new chair is confirmed
According to Forbes reporter Eleanor Terrett, rumors are circulating that Acting Chair of the U.S. Commodity Futures Trading Commission (CFTC) Caroline D. Pham will join the crypto payments company MoonPay once the new chair is confirmed. MoonPay declined to comment on the rumors, while a CFTC spokesperson did not deny the news, stating only that Pham had stated in May that she would return to the private sector after the new chair was confirmed, but remained committed to implementing the President's cryptocurrency agenda.
According to a recent report, the 2025 crypto wealth list reveals the wealthiest individuals in the industry, including Bitcoin supporters, exchange founders, and those involved in stablecoins. The wealth of these billionaires is primarily driven by token prices, exchange valuations, and market sentiment. Here are the top ten on the list and their assets: Changpeng Zhao: Founder of Binance, owns 90% of Binance shares, with an estimated net worth of $65.2 billion. Giancarlo Devasini: Former CFO of Tether and Bitfinex, holds significant amounts of BTC and Tether, with an estimated net worth of $22.4 billion. Brian Armstrong: CEO of Coinbase, holds ETH, BTC, and LTC, with an estimated net worth of $17.2 billion. Chris Larsen: Co-founder of Ripple, with an estimated net worth of $10.1 billion thanks to XRP and Ripple shares. Michael Saylor: Founder of Strategy (formerly MicroStrategy), holds significant BTC, with an estimated net worth of $9.8 billion. Jean-Louis van der Velde: Head of Bitfinex, holds significant BTC, with an estimated net worth of $9.5 billion. Paolo Ardoino: Executive at Tether and Bitfinex, with an estimated net worth of $9.5 billion. Justin Sun: Founder of TRON, holder of TRX and other crypto assets, with an estimated net worth of $8.5 billion. Stuart Hoegner: Legal advisor to Tether and Bitfinex, with an estimated net worth of $6.2 billion. Michael Novogratz: Founder of Galaxy Digital Holdings, with an estimated net worth of $6 billion. Notably, the list excludes Satoshi Nakamoto, the anonymous founder of Bitcoin, whose approximately 1.1 million BTC are currently valued at over $110 billion. The above data is based on a Forbes and Bloomberg snapshot from the summer of 2025.
Eclipse adjusts strategic direction and replaces CEO, laying off 65% of staff
According to Eclipse Labs, following its Token Generation Event (TGE), the team announced a strategic shift, shifting its focus to developing breakthrough applications based on its Layer 2 infrastructure. Simultaneously, Sydney will take over as CEO, with former CEO Litquidity voluntarily resigning. Furthermore, to align with the new strategy, Eclipse has laid off 65% of its staff to enhance operational flexibility.
WLFI starts the token unlocking function, and 20% can be claimed starting from September 1st
According to WLFI, the $WLFI unlock feature is now live, allowing users to initiate the token unlock process through the Lockbox. The first unlock will begin at 8:00 PM (GMT+8) on September 1st, allowing users to claim 20% of the initial allocation. The entire process requires signing and confirming the Token Unlock Agreement. Once the tokens are entered into the unlock contract, it is normal for the wallet balance to display as zero.
According to official Stargate news, the LayerZero Foundation has officially completed its full acquisition of Stargate (STG), including the protocol, tokens, and treasury. Following the acquisition, STG tokens will be convertible into LayerZero's native token, ZRO, at a fixed exchange rate (1 STG = 0.08634 ZRO), and the exchange window will remain open. Furthermore, the StargateDAO will be dissolved, and the STG staking function will cease. However, previously locked STG will be automatically unlocked and can be redeemed for ZRO at any time. Furthermore, all veSTG holders locked before August 10th will share 50% of the protocol's Stargate revenue over the next six months, with the remaining 50% going toward ZRO buybacks. Earlier news reported that the Stargate DAO had approved LayerZero's acquisition of Stargate (STG).
According to Cointelegraph, crypto fund Pantera Capital plans to raise up to $1.25 billion to acquire a Nasdaq-listed company, renaming it "Solana Co." The company will focus on accumulating Solana ($SOL) and further developing the Solana ecosystem. This follows news yesterday that Sharps Technology announced a private placement of over $400 million to establish Solana's digital asset financial strategy.
Grayscale Files S-1 for AVALANCHE ETF
According to the filing documents on the official website of the U.S. SEC, Grayscale submitted the S-1 document for AVALANCHE ETF.
Canary Files S-1 for American-Made Crypto ETF
Bloomberg ETF analyst Eric Balchunas wrote on the X platform: "The newly filed application (S-1 filing) for the 'Canary American-Made Crypto ETF' - this spot product will only hold cryptocurrencies that were invented entirely in the United States, mined primarily in the United States, or have their operations located in the United States. As we have previously predicted, due to the success of this category, ETFs are ready to try all imaginable combinations."
Prediction Market Kalshi Hires Crypto KOL John Wang as Head of Crypto Business
According to Bloomberg, prediction market platform Kalshi recently hired crypto founder-turned-influencer (KOL) John Wang as head of its crypto business, deepening its presence in the digital asset sector. Prior to joining Kalshi, Wang provided consulting services to crypto startups and wrote about cryptocurrency and finance on the social media platform X. Wang stated that he dropped out of the University of Pennsylvania to found Armor Labs, which was later acquired by another company.
Online brokerage Webull will once again offer cryptocurrency trading services to US customers
Online brokerage Webull Corp. will once again allow U.S. customers to buy and sell cryptocurrencies on its trading platform, after abandoning the service during its 2023 IPO attempt, according to Bloomberg. Trading will be available to all U.S. customers on Monday, according to the company, which has offered the service to Brazilian investors since June. Clients will be offered access to over 50 digital assets, including Bitcoin, Ethereum, and Solana. The company said it expects to expand cryptocurrency trading to other markets in the coming months.
Anchorage Digital launches venture capital arm to support early-stage on-chain protocols
According to The Block, cryptocurrency custody unicorn Anchorage Digital has established a venture capital department to support early-stage protocol teams. The department, called Anchorage Digital Ventures, will provide financial and strategic support to founding teams building on-chain infrastructure. Anchorage said it is particularly interested in teams working on Bitcoin DeFi, real-world assets, decentralized identity, and other teams with the potential to become infrastructure. The company also emphasized that projects that solve the pain points of institutional adoption are its main focus. The program is now open for applications, and some founders will be invited to participate in an invitation-only demo day during Token2049 in Singapore in October. At that time, Anchorage will announce the recipients of the funding.
Gemini partners with Ripple to launch XRP credit card, offering cashback rewards for purchases
According to CoinDesk, crypto exchange Gemini has partnered with Ripple to launch an XRP credit card, offering users cryptocurrency rewards on various purchases. Similar to Gemini's other cash back cards, the card, issued by WebBank, allows cardholders to earn up to 4% cash back in XRP on gas, electric vehicle charging, and ridesharing purchases, 3% cash back on dining, 2% cash back on groceries, and 1% cash back on other transactions. Gemini stated that they are also partnering with select merchants to offer up to 10% cash back on eligible purchases. The exchange has also expanded the use of Ripple's RLUSD stablecoin as a base currency for spot trading pairs for US users.
According to Cointelegraph, billionaire heiress Taylor Thomson lost over $80 million in digital assets after following investment advice linked to a psychic. Thomson, a member of the family behind media and financial giant Thomson Reuters, invested millions of dollars in crypto assets with the help of her former close friend, Ashley Richardson. Both had previously sought advice from psychics and others, and Richardson later became deeply involved in managing Thomson's crypto portfolio. During the 2021 bull market, Richardson reportedly managed over $140 million in crypto assets for Thomson across multiple wallets. However, the crypto market downturn in mid-2022 severely impacted the portfolio, with consulting firm Guidepost Solutions estimating Thomson's losses at over $80 million. The firm accused Richardson of executing over 450,000 trades without proper authorization, exposing Thomson to high-risk strategies. Richardson denies the allegations, stating that she acted at Thomson's behest and that there was no formal contract between them. In 2023, Thomson sued Richardson and Persistence. She has now settled with Persistence, but the lawsuit against Richardson is still ongoing.
Binance CEO Richard Teng has warned of a new scam: fake customer service representatives tricking users into modifying their API settings over the phone in order to steal funds. Impersonating official representatives, scammers claim to be requesting API permissions adjustments under the guise of a "security update" in order to gain control of their accounts. Binance reminds users that they will not request passwords or credentials over the phone and recommends enabling two-factor authentication (2FA) and Passkey to strengthen API permission management and verify all communications through official channels. If you suspect you have been scammed, contact Binance customer service immediately to revoke your API key and freeze your account.
Bitwise has submitted its application for the Bitwise Chainlink ETF to the US SEC.
According to market news, Bitwise has submitted the S-1 application document for the Bitwise Chainlink ETF to the US SEC.
According to an official announcement, Binance Wealth will open the third (and final) subscription tranche of the Plasma USDT regular product on the Binance Chain at 7:00 PM (GMT+8) on August 26, 2025, with a total subscription quota of 500 million USDT. The maximum subscription limit per user for this final tranche has been reduced to 10,000 USDT. Binance may adjust this quota over time based on market demand and other factors. Existing users will not be affected. No new tranches will be opened after this, and the total subscription quota will not be increased.
Institutional holdings
According to PR Newswire, Bitmine, a publicly traded US company, announced that its cryptocurrency and cash holdings exceeded $8.82 billion. As of 5:30 PM ET on August 24, the company's cryptocurrency holdings included 1,713,899 ETH, 192 BTC, and $562 million in unspent cash. BitMine disclosed that its cryptocurrency and cash holdings increased by $2.2 billion over the past week, reaching $8.8 billion (an increase of over 190,500 ETH, from 1.52 million to 1.71 million ETH).
According to PR Newswire, Sharps Technology (NASDAQ: STSS/STSSW) announced plans to raise over $400 million in a private placement to support its digital asset treasury strategy. Its primary holding will be Solana (SOL), the native digital asset of the Solana blockchain. The PIPE transaction is expected to close on or about August 28, 2025, subject to customary closing conditions. Upon completion, the company plans to use the net proceeds from the offering primarily to acquire SOL in the public market, establish its SOL treasury operations unit, and for working capital and general corporate purposes. Sharps Technology has signed a non-binding Letter of Intent (LOI) with the Solana Foundation. Under the terms of the LOI, the Solana Foundation commits to sell $50 million worth of SOL at a 15% discount to its 30-day time-weighted average price, using only the proceeds from the public offering, subject to certain conditions.
B Strategy to Establish BNB Funding Company with Support from YZi Labs, Aiming to Raise $1 Billion
According to The Block, B Strategy, a digital asset investment firm, announced plans to establish a Nasdaq-listed BNB fund with the goal of raising $1 billion. The press release stated, "The plan aims to operate through a US-listed company that will not only hold BNB as a treasury, but also become the 'Berkshire Hathaway' of the BNB ecosystem." B Strategy's yet-to-be-named BNB fund will receive strategic support from YZi Labs. A YZi Labs representative stated that YZi Labs will provide financial support and ecosystem support to the project, helping it connect with partners. B Strategy stated that it will also leverage its extensive reach in the Asia-Pacific region to access liquidity, market intelligence, and distribution, adding that several prominent Asian family offices have already joined as cornerstone investors. In addition to operating the BNB treasury, the company will dedicate funds and resources to investing in core technology development, providing grants to projects, and supporting community initiatives. YZi Labs stated that the Nasdaq listing and $1 billion fundraising are expected to be completed within weeks.
Strategy spent $356.9 million last week to increase its holdings by 3,081 bitcoins
According to market news, Strategy bought 3,081 bitcoins between August 18 and August 24, with a total purchase price of US$356.9 million.
According to Businesswire, Nasdaq-listed Heritage Distilling Holding Company announced the completion of a $223.8 million private placement. The offering, backed by the Story Foundation and other investors including a16z Crypto, Amber Group, Arrington Capital, dao5, Hashed, Mirana Ventures, Neoclassic Capital, Open World, Polychain Capital, Selini Capital, Stix, and Syncracy Capital, aims to support the launch of its IP token digital asset finance strategy. The transaction closed on August 15th. The company now holds over 53.2 million Story's native IP tokens, valued at approximately $320 million based on the price on August 22nd.
According to Zhitong Finance, Boyaa Interactive ( 00434.HK ) announced that between August 5 and August 25, 2025, the group conducted a series of transactions on the open market, purchasing a total of approximately 290 bitcoins for a total consideration of approximately HK$257 million (equivalent to approximately US$32.91 million). This time, the company used its own funds to purchase bitcoins.
Sequans Communications, headquartered in Paris, France, announced the launch of an "at the market" (ATM) equity offering program to support its long-term Bitcoin reserve strategy. The company has filed a prospectus with the U.S. Securities and Exchange Commission (SEC) for the issuance of up to $200 million in American Depositary Shares (ADSs), each representing 10 ordinary shares. Sequans CEO Georges Karam stated that the program aims to optimize the company's finances, increase its Bitcoin reserves per share, and create long-term value for shareholders. Funds from the program will be primarily used to continue accumulating Bitcoin, consistent with the company's established reserve strategy. The specific timing and size of the offering will be determined based on market conditions.
Analysis & Opinions
Arthur Hayes predicts that the price of HYPE tokens may increase 126 times in the next three years
According to Finance Feeds, BitMEX co-founder Arthur Hayes predicted at the WebX 2025 conference in Tokyo that the value of Hyperliquid's native token, HYPE, could increase 126-fold over the next three years. Hayes based his prediction on the growing use of stablecoins. He said Hyperliquid's annualized fee revenue would increase from $1.2 billion to $258 billion. Previously, Hayes predicted that the crypto bull market would continue until 2028, and that DeFi platforms like Ethena and Hyperliquid were poised to benefit from the influx of stablecoin liquidity.
BitMine Chairman Tom Lee forwarded the views of Mark Newton, an analyst at its fund, that ETH currently has a good risk-return ratio and is expected to bottom out at $4,300 in the next few hours and begin to rebound to a new high, with a target price of $5,100 to $5,400-5,450.
CryptoQuant analyst: Bitcoin's strong support range may be between $100,000 and $107,000
CryptoQuant analyst Axel Adler Jr. wrote that Bitcoin's recent strong support range lies between $100,000 and $107,000, representing the intersection of the actual price paid by short-term holders and the 200-day simple moving average. A break below this range could lead to deeper support at $92,000 to $93,000, reflecting the cost base for short-term investors holding the currency for three to six months, potentially serving as a second line of defense.
Important data
Deribit: About $15 billion in Bitcoin and Ethereum options will expire this Friday
According to Deribit, Bitcoin and Ethereum options with a total notional value of approximately $15 billion will expire this Friday. Bitcoin options have a notional value of $11.66 billion, a put/call ratio of 0.88, and a maximum price of $116,000. Ethereum options have a notional value of $3.08 billion, a put/call ratio of 0.74, and a maximum price of $3,800.
YGG has repurchased $1 million worth of YGG tokens
According to on-chain analyst Ember, YGG conducted a $1 million YGG token buyback: they deposited 1 million USDT into Binance early yesterday morning and then withdrew 5.873 million YGG from Binance last night at an average price of $0.17. The buyback funds were likely funded by revenue from their first self-developed game, League of Legends Land, which has generated $1 million in revenue over the past 30 days.
According to CoinShares' latest weekly data, digital asset investment products saw $1.43 billion in outflows last week, the largest outflow since March, with ETP trading volume surging to $38 billion. Bitcoin saw outflows of $1 billion, while Ethereum showed resilience, with only $440 million flowing out. This brought the month's total inflows to $2.5 billion, while Bitcoin saw a net outflow of $1 billion. Altcoin flows were mixed: XRP (+$25 million), Solana (+$12 million), and Cronos (+$4.4 million) saw gains, while Sui (-$12.9 million) and TON (-$1.5 million) saw declines.
Institutional investors held $33.6 billion in Bitcoin ETFs in the second quarter
Arkham: A whale bought $2.55 billion worth of ETH from Hyperunit and staked it all
Bitmine added 4,871 ETH, with a total holding of approximately 1.7188 million
