🚀 Macro & Regulation
• The Nasdaq and S&P 500 closed at all-time highs.
• Bitcoin's dominance has fallen from 65% to 59% over the past two months; institutional trading on Coinbase now accounts for 75% of BTC trading volume.
• The US M2 money supply hit a record high of $220 billion.
• US Treasury Secretary Besant: The Federal Reserve may cut interest rates by 50 basis points in September, with a total reduction expected to reach 150-175 basis points; traders have fully priced in a 25 basis point rate cut in September. Key focus: The Jackson Hole Symposium from August 21st to 23rd, where Powell may lay the groundwork for policy easing.
• The cryptocurrency exchange Bullish raised $1.1 billion in its initial public offering (IPO); its stock (BLSH.US) rose 83.78% on its first day. • Google searches for "altcoin" hit a five-year high.
• China Merchants Bank International tokenized the Hong Kong-Singapore Mutual Recognition Fund on Solana through DigiFT and OnChain.
• The DeFi Education Fund and a16z urged the U.S. Securities and Exchange Commission (SEC) to create a regulatory "safe harbor" for blockchain applications to protect protocols like Uniswap.
• Google Play bans wallet apps without a banking license; clarifies that non-custodial wallets are not affected.
🍀 Corporate Treasury Bonds
• GameSquare (NASDAQ: GAME) partners with the Animecoin Foundation, pledging to purchase $2.5 million worth of ANIME over 12 months and serving as designated agent.
• DeFi Development Q2: 1.3 million SOL held, daily revenue of approximately $63,000.
• Ethereum reserves and ETFs currently hold over 8% of the total ETH supply; institutions hold 17% of circulating BTC. • Norway's sovereign wealth fund increases BTC holdings to 7,161 BTC.
🔍 Projects & Protocols
• $OKB — OKX upgrades X Layer, permanently destroys 65.26 million OKB (from buybacks/reserve), capping total supply at 21 million; eliminates minting and manual burns; OKTChain will gradually phase out OKT → OKB swaps.
• $EDEN — Eden Network shuts down, distributing 2,000 ETH to EDEN holders.
• $YGG — Completes $518,000 in buybacks on July 31st; treasury valued at $38 million, including $7.7 million in stablecoins, treasury, and large-cap tokens.
• $SIGN — Sign Foundation executes $12 million in SIGN buyback program.
• $BB — BounceBit buys back 8.87 million BB in a week, generating $16 million in annual revenue. Buybacks will continue.
• $HYPE — Hyperliquid accounts for 35% of total on-chain revenue in July 2025.
• $STG — Stargate proposes an emergency halt to LayerZero's $1.38 billion acquisition, requiring a neutral representative before any sale.
• Kraken secures MiCA license, serving all 30 European Economic Area (EEA) countries.
• Ex-Revolut team launches perpetual DEX "Extended" on Starknet.
• Offchain Labs (Arbitrum) acquires smart account infrastructure provider ZeroDev.
• MetaMask expects to launch mUSD stablecoin this week in partnership with Bridge.
• ETH Fusaka fork (November 2025) to improve scalability.
• Gemini to launch Horizon cross-chain consensus smart wallet infrastructure.
• Solana meme coin launch platform "Bags" surpasses $1 billion in trading volume; 30-day trading volume exceeds $1 billion