Key Takeaways
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Macro Environment: Trump’s push to dismiss Federal Reserve Governor Cook sparked concerns over Fed independence, driving U.S. Treasury yields higher and gold up on safe-haven demand. Ahead of Nvidia’s earnings report, investors stayed cautious, with the three major U.S. equity indices edging higher in subdued trading.
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Crypto Market: Bitcoin tracked U.S. equities, rebounding 1.5%. Leading ETH reserve-holding companies continued to add to their positions, pushing the ETH/BTC ratio back to 0.041. Altcoin market cap share (excluding BTC and ETH) rose 0.2% week-over-week, with altcoins following the broader market’s mild rebound.
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Outlook for Today:
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Nvidia earnings report
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Hong Kong Blockchain Summit
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Main Asset Changes
| Index | Value | % Change |
| S&P 500 | 6,465.95 | +0.41% |
| NASDAQ | 21,544.27 | +0.44% |
| BTC | 11,764.60 | +1.50% |
| ETH | 4,601.03 | +5.12% |
Crypto Fear & Greed Index: 51 (vs. 48, 24 hours ago), indicating Neutral sentiment.
Project Highlights
Trending Tokens: CRO, HYPE, NMR
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NMR (+143%): JPMorgan committed a $500M investment into crowdsourced hedge fund Numerai.
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CRO (+31%): Trump Media & Technology Group announced a $6.42B acquisition of CRO Digital, planning to integrate the Crypto.com wallet and introduce the CRO token.
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HYPE (+12%): A whale-driven liquidation cascade on Hyperliquid’s XPL pair boosted exposure, trading volume, and fee revenue, lifting HYPE’s price. In July, Hyperliquid’s trading volume already surpassed Robinhood.
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LINK (+3%): Bitwise filed a Chainlink ETF application with the U.S. SEC.
Macro Economy
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Fed Governor Cook: “Trump has no authority to dismiss me; I will continue fulfilling my duties.”
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Federal Reserve’s first response to Trump’s attempt to dismiss Cook: “We will respect judicial rulings.”
Industry Highlights
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U.S. Commerce Secretary: The Department of Commerce will begin publishing statistics on blockchain.
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Global regulators urge U.S. SEC to strengthen oversight of tokenized equities.
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Japan’s Prime Minister: Bitcoin and cryptocurrencies are a “once-in-a-century opportunity.”
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ETHZilla hinted at further ETH accumulation to surpass Coinbase and Bit Digital.
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SharpLink added 56,533 ETH, bringing total holdings to 797,704 ETH.
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KindlyMD announced a $5B equity plan to advance its Bitcoin treasury strategy.
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Goldman Sachs now holds $470M worth of Bitcoin.
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BIT Mining launched the DOLAI USD stablecoin on Solana.
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MetaMask introduced social login features, supporting Google and Apple accounts for wallet creation and recovery.
This Week’s Outlook
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Aug 27: Nvidia earnings; Hong Kong Blockchain Summit
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Aug 28: U.S. Q2 GDP (annualized, revised); Bitcoin Asia opens in Hong Kong Convention & Exhibition Centre with Eric Trump attending
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Aug 29: U.S. July Core PCE
Note: There may be discrepancies between this original content in English and any translated versions. Please refer to the original English version for the most accurate information, in case any discrepancies arise.
