Today's news tips:
1. After Powell's speech, the probability of the Federal Reserve cutting interest rates by 25 basis points in September rose to 91.1%
2. Grayscale, Bitwise, and other asset management companies submitted revised S-1 documents for XRP spot ETFs
3. VanEck submits the first application for a spot Solana ETF based on JitoSOL
4.ETH reached a record high of $4,887.5 this morning
5.WLFI will be launched on the Ethereum mainnet on September 1st, and early investors will unlock 20%
6. Wormhole plans to acquire Stargate for at least 120 million USDC
7. Binance Alpha will launch Multiple Network (MTP) on August 25th
8.SharpLink approves $1.5 billion share repurchase plan, strengthening Ethereum holding strategy
Macro
According to NLNico, citing HB 421 filed by Philippine Congressman Miguel Luis R. Villafuerte, the Philippines plans to purchase 2,000 Bitcoins annually for five years through the Bangko Sentral ng Pilipinas (BSP), totaling 10,000 Bitcoins. These Bitcoins will be stored for 20 years to enhance national security and stabilize the debt structure. The bill aims to ensure financial stability by establishing a strategic Bitcoin reserve and diversifying asset allocation, addressing the growing role of cryptocurrencies in the global financial system.
Haycen receives approval to issue stablecoin in Bermuda, plans to launch pound-pegged token
Haycen, a trade finance company, has received a stablecoin issuance license from the Bermuda Monetary Authority (BMA). The company plans to launch 1:1 collateralized stablecoins in multiple currencies, including a British pound pegged token. Haycen's target market is B2B businesses, regulated entities, and non-bank lenders in the cross-border trade finance sector, a sector long considered underserved.
Haycen's stablecoin product will focus on reducing capital costs and increasing control over cash flow for businesses, with all tokens fully collateralized. Furthermore, Haycen has partnered with Northern Trust and received support from the UK's National Security Strategic Investment Fund (NSSIF).
According to Jinshi Data, CME's "Fed Watch" data shows that after Powell's speech, the probability of the Fed cutting interest rates by 25 basis points in September has risen to 91.1%, and the probability of keeping interest rates unchanged is 8.9%. Looking ahead to October, the probability of the Fed keeping interest rates unchanged is 4.3%, the probability of cumulative rate cuts of 25 basis points is 48.9%, and the probability of cumulative rate cuts of 50 basis points is 46.8%.
According to previous news, after Powell's speech, the market expected the probability of a rate cut in September to rise to 90% .
Asset management firms Grayscale, Bitwise, Canary, CoinShares, Franklin, 21Shares, and WisdomTree have filed amended S-1 filings for XRP spot ETFs. The updated filings change the structure of some funds, allowing for the creation of XRP or cash and redemptions in cash or in-kind, rather than just simple cash creation and redemption.
“[The filings] are almost certainly in response to the SEC’s feedback,” said James Seyffart, an ETF analyst at Bloomberg. “That’s a good sign, but it’s also largely expected.”
According to BeInCrypto, citing local Japanese news outlet Nikkei, Japan’s Financial Services Agency (FSA) plans to include cryptocurrency tax reforms in its 2026 tax revision plan. The plan is expected to combine tax changes with stricter regulations and may introduce ETFs tied to cryptocurrencies.
The reform package contains two key components. First, it includes a revision of the tax code to move cryptocurrencies from comprehensive taxation to the same category as stocks. Second, it includes a legal amendment to reclassify cryptocurrencies as financial products, enabling the FSA to apply insider trading rules, disclosure standards, and investor protections under the Financial Instruments and Exchange Act. Currently, Japan taxes cryptocurrency gains as "miscellaneous income" at a progressive rate that can exceed 50% once local taxes are factored in. Stocks and bonds, on the other hand, are subject to a flat 20% tax.
Viewpoint
Bitwise Analyst: Bitcoin May Climb to $1.3 Million by 2035
Bitcoin could become the best-performing institutional asset over the next decade, with its price climbing to $1.3 million by 2035, according to a report from Bitwise analysts. Bitwise's new price forecast implies a compound annual growth rate of 28.3%, exceeding returns for most traditional assets, but the firm cautions that even if volatility trends lower than in past cycles, it will remain a defining characteristic of the market.
Analysts led by Matt Hougan wrote that three forces will drive adoption and price increases. The first catalyst is Bitcoin's continued rise as an institutional asset. The second is the growing demand for exposure to hard assets in an inflationary environment, and the third is the fixed nature of its new supply.
Bitwise also stated that the theory of Bitcoin's "historical four-year cycle" is no longer relevant. Despite this, the firm warned investors to expect significant drawdowns. The biggest risks include regulatory changes, legislative shifts in major markets, and challenges posed by relatively new assets with limited historical data. Furthermore, quantum computing and other technological threats have garnered attention, but Bitwise considers them secondary concerns.
Cryptocurrency markets rallied on Saturday, with market sentiment returning to a "greed" tone, after dovish comments from Federal Reserve Chairman Jerome Powell sparked speculation about a possible September rate cut. Axie Infinity co-founder Jeffrey "Jiho" Zirlin noted that ETH is the most interest rate-sensitive cryptocurrency, as the yield differential between depositing stablecoins in DeFi and holding US dollars in banks widens as interest rates fall. However, while St. Louis Fed President Alberto Musallem indicated he needed more time to decide whether to support a rate cut, some cryptocurrency market participants anticipate further gains if Powell hints at a rate cut.
Project News
VanEck Submits Application for First Spot Solana ETF Based on JitoSOL
According to the Jito Foundation, VanEck has submitted an S-1 application to launch the first spot Solana ETF fully supported by the liquid staking token (LST) JitoSOL - VanEck JitoSOL ETF.
In 2025, the SEC clarified that protocol staking and liquid staking, under certain structures, do not involve securities transactions, paving a compliant path for the use of LST in an ETF. This ETF will provide investors with liquidity, tax and regulatory clarity, and the economic advantage of offsetting fees through staking income. Furthermore, JitoSOL strengthens the security of the Solana network through decentralized staking, indirectly contributing to the health of the network for investors.
The VanEck JitoSOL ETF application, currently under review, is an important step in connecting blockchain infrastructure with institutional investors.
WLFI will be launched on the Ethereum mainnet on September 1st, and early investors will unlock 20%
WLFI announced on Twitter that its token will launch on the Ethereum mainnet on September 1st. Early adopters (in the $0.015 and $0.05 rounds) will have 20% of their tokens unlocked, with the remaining 80% determined by community voting. Tokens for the founding team, advisors, and partners will not be unlocked. Trading and the first round of claims will begin at 8:00 PM (UTC+8) on September 1st.
Ondo Finance: Will launch an on-chain US stock trading platform on September 3
Ondo Finance tweeted that it will launch Ondo Global Markets, an on-chain US stock trading platform on the Ethereum network on September 3.
Earlier news reported that Ondo Finance will launch the on-chain US stock trading platform Ondo Global Markets this summer.
Wormhole to acquire Stargate for at least 120 million USDC
The Wormhole Foundation tweeted that it has arranged financing and has made an acquisition offer for Stargate, preparing to acquire Stargate with an initial offer price of at least $120 million in USDC, exceeding LayerZero's $110 million bid. The all-cash acquisition will provide $STG holders with maximum certainty and immediate liquidity, without delays or exchange risk.
Earlier news reported that Wormhole planned to acquire Stargate at a high price and requested a suspension of the vote on "LayerZero's acquisition of STG."
Binance Alpha to List Multiple Network (MTP) on August 25th
According to an official announcement, Binance Alpha will launch Multiple Network (MTP) on August 25th. Eligible users can redeem their Binance Alpha Points on the Alpha event page after trading opens. Detailed details will be announced separately.
According to the official announcement, Binance Futures will launch pre-market trading of WLFIUSDT perpetual contracts at 16:30 (GMT+8) on August 23, with a maximum leverage of 5x.
Important data
According to Spot On Chain monitoring, two OG whales holding large amounts of Bitcoin have made significant asset adjustments in the past two days, shifting their investment focus to Ethereum:
- 4,621.9 Bitcoins were sold through three wallets, valued at approximately $523.5 million;
- Purchased and stored 82,398 Ethereum, valued at approximately $353.65 million;
- A total of 135,265 ETH long positions were opened on the Hyperliquid platform, valued at approximately $583.7 million, with liquidation prices ranging from $3,487.4 to $3,612.
- There are currently 84,645 bitcoins still held, with a total value of approximately US$9.55 billion, distributed across 7 wallets.
WLFI purchased 1,076 ETH at an average price of $4,670, with a total investment of $5.025 million.
According to Lookonchain monitoring, Trump's World Liberty (WLFI) just purchased 1,076 ETH at a price of $4,670 per ETH, spending a total of $5.025 million.
ETH reached a record high of $4887.5 this morning
OKX market data shows that ETH broke through $4,800 this morning, reaching a high of $4,887.5, setting a historical high. It is currently trading at $4,830.8 per coin, with a daily increase of 14.32%.
"Rolling Brother" made a profit of $5.5 million by rolling long on ETH
According to on-chain analyst Yu Jin, as ETH hit new highs, "Roller" has turned $740,000 into $6.16 million through long ETH positions, generating a $5.5 million profit. By continuously adding to his position with these gains, his ETH holdings have grown from 4,000 at the time of opening yesterday morning to 25,100, worth $120 million. The recent fluctuations in "Roller"'s profits and losses are as follows:
- A $125,000 USD long position on ETH resulted in a $43 million USD floating profit. After a significant loss of the profit, the position was closed at a profit of $6.865 million.
- $6.99 million continued to be long on ETH ➙ loss to only $780,000 left;
- After the release of the book, he continued to roll over his ETH long position with $740,000 in funds, and now has $6.16 million. His position is currently liquidated at $4,666.
According to @ai_9684xtpa, after Ethereum hit a new high, the floating profit of a "BTC whale who had been dormant for seven years and then publicly swapped ETH" also reached a new high, absorbing $120 million in four days. Among them:
- Spot: 105,599 ETH, floating profit of $50.03 million, cost of $4,284;
- Contracts: The cumulative ETH long positions of US$650 million have generated a profit of US$69.99 million, and five addresses hold a total of 135,265 ETH.
According to Lookonchain, a whale transferred 3,500 BTC (approximately $409 million) to a new wallet 10 hours ago after a three-year hiatus. Three years ago, the whale withdrew 3,500 BTC (then worth $104 million at a price of $29,620) from Gemini, making a profit of $305 million (+294%).
According to SoSoValue data, yesterday (August 22, Eastern Time), the total net outflow of Bitcoin spot ETFs was US$23.1492 million.
The Bitcoin spot ETF with the largest single-day net inflow yesterday was the Ark Invest and 21Shares ETF ARKB, with a single-day net inflow of US$65.7427 million. Currently, ARKB's total historical net inflow has reached US$2.015 billion.
The second is Fidelity ETF FBTC, with a single-day net inflow of US$50.8842 million. The current historical total net inflow of FBTC has reached US$11.719 billion.
The Bitcoin spot ETF with the largest single-day net outflow yesterday was Blackrock ETF IBIT, with a single-day net outflow of US$199 million. Currently, the total net inflow of IBIT in history has reached US$58.059 billion.
As of press time, the total net asset value of the Bitcoin spot ETF was US$150.229 billion, the ETF net asset ratio (market value as a percentage of the total market value of Bitcoin) reached 6.45%, and the historical cumulative net inflow has reached US$53.80 billion.
Radiant Capital hacker sells 3,931 ETH; $53 million stolen is now worth $104 million
According to on-chain analyst Ember, the Radiant Capital hacker bought 4,914 ETH at $4,167 three days ago and sold 3,931 ETH at $4,726 in the past two hours for 18.57 million DAI. The trend is as follows:
- Last year, $53 million was stolen and the funds were used to buy 21,900 ETH at $2,420.
- On August 14, 9,631 ETH were sold at $4,562.
- On August 20, 4,914 ETH was purchased at $4,167.
- Today, 3,931 ETH were sold at $4,726.
The $53 million in assets stolen last year are now worth $104 million: including 13,300 ETH ($62.63 million) + 42.03 million DAI.
Institutional holdings
SharpLink Approves $1.5 Billion Share Buyback Plan, Strengthens Ethereum Holdings Strategy
SharpLink Gaming, Inc. (NASDAQ: SBET) announced that its board of directors has approved a share repurchase program of up to $1.5 billion to optimize capital allocation and support market performance. SharpLink is one of the world's largest corporate holders of Ethereum (ETH) and is committed to driving widespread adoption of the Ethereum ecosystem.
The program aims to avoid diluting the value of each share of Ethereum by repurchasing shares in the event that the company's stock price falls below the net asset value (NAV) of its Ethereum holdings. Repurchases will be made through open market purchases, privately negotiated transactions, or other legally binding means, depending on factors such as market conditions, stock price, and trading volume. The program may be suspended or terminated at any time.
Hong Kong-listed China Renaissance Capital Holdings Limited announced that it signed a strategic cooperation memorandum with YZi Labs Management Ltd on August 22, 2025, to deepen its collaboration around the Binance Coin (BNB) and BNB Chain ecosystem. According to the memorandum, China Renaissance will invest approximately US$100 million in a dedicated allocation of BNB assets, becoming the first Hong Kong-listed company to include BNB in its digital asset portfolio and promoting its listing on a licensed Hong Kong virtual asset exchange.
In addition, Huaxing Capital also plans to establish a real-world asset (RWA) fund with a target size of hundreds of millions of US dollars to promote the development of BNB in stablecoin and RWA application scenarios.
