Headlines
▌The US CFTC plans to adopt Nasdaq's monitoring system to expand cryptocurrency supervision
The U.S. Commodity Futures Trading Commission (CFTC) announced in a statement that it will expand its cryptocurrency oversight by adopting Nasdaq's surveillance system to protect the market from fraud, abuse, and manipulation. If Congress passes legislation currently pending in both chambers, the CFTC's role in cryptocurrency regulation could expand significantly. CFTC Acting Chairwoman Caroline Pham stated that the new surveillance system will provide the agency with automated alerts and "cross-market analytics," including access to comprehensive order book data, to support real-time analysis and decision-making, preventing and detecting abuse in traditional and crypto asset markets. The CFTC is also preparing for the growth of the cryptocurrency market. Earlier this month, the CFTC launched its "Crypto Sprint" initiative, focusing on crypto futures trading and the recommendations of the President's Task Force on Digital Asset Markets.
Aave Labs launches Horizon, a stablecoin lending platform
According to an article published by The Block, Aave Labs launched the stablecoin lending platform Horizon. The Horizon platform supports stablecoin loans collateralized by tokenized U.S. Treasury bonds and institutional funds. Circle, VanEck, Chainlink and WisdomTree are all the first partners of Aave Labs to promote institutional-level decentralized finance (DeFi) business.
Market
As of press time, according to Coingecko data:
BTC price is $111,248, with a 24-hour change of -0.5% ;
The price of ETH is $4,505.58, with a 24-hour change of -2.0% ;
BNB price is $856.75, with a 24-hour change of -0.9% ;
The price of SOL is $203.59, with a 24-hour change of +3.8% ;
DOGE price is $0.2197, up +0.5% in 24 hours;
The price of XRP is $2.97, with a 24-hour change of -1.5% .
The TRX price is $0.3459, with a 24-hour change of -1.8% .
policy
Japan's 2026 tax reform proposal: Lowering cryptocurrency tax rates and expanding NISA account eligibility
Japan's Financial Services Agency (FSA) has proposed a series of tax reforms for 2026 aimed at comprehensively overhauling the current cryptocurrency tax framework. The core elements of these reforms include two key aspects: first, replacing the current integrated tax system (where cryptocurrency gains are taxed at a maximum rate of 55% when combined with salary income) with a separate, fixed-rate system of approximately 20%; and second, introducing a "three-year loss carryforward" mechanism similar to stock market rules (where losses can be offset against taxable income over the next three years). Furthermore, the Japanese government plans to expand the eligibility of the Nippon Individual Savings Account (NISA) to all age groups. By providing tax incentives, this initiative will indirectly foster a more attractive investment environment for cryptocurrencies.
Japanese opposition leaders discuss the urgency of establishing a strategic Bitcoin reserve
According to Bitcoin Magazine on social media, leaders of Japan's Democratic Party for the People and the Sansei Party discussed the urgency of establishing a strategic Bitcoin reserve.
▌The EU proposed to eliminate all tariffs on US industrial products to meet Trump's demands
According to market news released by Watcher.Guru: The European Union proposed to eliminate all tariffs on US industrial products to meet Trump's requirements.
Blockchain Applications
Circle partners with Finastra to promote the use of stablecoins for cross-border payments among banks
Financial software company Finastra has announced a partnership with stablecoin issuer Circle to enable banks to integrate the USDC stablecoin into their cross-border payment processes. This partnership will allow banks to choose USDC for settlement, eliminating the need to rely on the traditional counterparty banking system and providing a more flexible and innovative settlement solution.
Mastercard and Circle expand partnership to enable USDC and EURC settlement in EEMEA
According to market news released by Cointelegraph, Mastercard and Circle have expanded their cooperation to help realize USDC and EURC settlement in Central and Eastern Europe, the Middle East and Africa (EEMEA).
Google Cloud announces its L1 blockchain GCUL and opens a waiting list
According to its official website, Google Cloud has announced information about its Layer 1 blockchain, Google Cloud Universal Ledger (GCUL), and has opened a waitlist. Google Cloud claims GCUL offers a digital asset issuance, management, and settlement experience. Its atomic settlement functionality reduces risk and improves liquidity. The company is researching how to transfer value through secure transaction media backed by bankruptcy-protected, regulated assets, such as central bank deposits or money market funds.
Circle and Paxos are testing new cryptocurrency issuance verification technology
Stablecoin giants Circle and Paxos are testing new cryptocurrency issuance verification technology to help entities verify their digital asset holdings. In collaboration with Bluprynt, a fintech startup founded by Georgetown Law School professor Chris Brummer, Circle and Paxos are leveraging cryptography and blockchain technology to provide issuer verification when entities issue stablecoins, enabling the tracing of tokens back to their verified issuers.
Cryptocurrency
Metaplanet Japan announces additional share issuance, plans to purchase another $837 million in Bitcoin
According to market news released by The Bitcoin Historian: Japan's Metaplanet announced the issuance of new shares and plans to purchase another US$837 million worth of Bitcoin.
Tom Lee predicts that Ethereum will reach $60,000 within 5 years, with room for more than 2 times growth before the end of the year
In an exclusive interview with Mario Nawfal, Tom Lee, chairman of the board of BitMine, said, "The financial system will be reconstructed based on blockchain, reminiscent of the moment when the US dollar broke away from the gold standard in 1971, and Ethereum will be one of the main beneficiaries. I am still very optimistic about Bitcoin, and Bitcoin has the potential to reach $200,000 or even higher. As for Ethereum, I think it has greater room for growth because it has more potential with the development of blockchain and artificial intelligence. That's why we call Ethereum the biggest macro trade in the next 10 to 15 years. I think from now to the end of the year, Bitcoin has 2 times the room to grow, and Ethereum has more than 2 times the room to grow. But in the long run, we have done some research and envisioned a five-year experiment, and the results predict that the final price of Ethereum will be around $60,000." In 2017, Tom Lee publicly predicted for the first time that Bitcoin would reach $25,000 within five years (that is, by 2022). He said that Bitcoin is eroding the demand for gold and regards it as digital gold with scarcity and value storage potential.
Cumberland transferred over 47,000 ETH to Coinbase, worth approximately $210 million.
According to Whale Alert, Cumberland transferred 22,289 ETH worth approximately $103 million to Coinbase Institutional in the early morning hours. Earlier, Cumberland had transferred 25,200 ETH worth approximately $116 million to Coinbase Institutional.
A suspected Bitmine-related wallet withdrew a total of 30,422 Ethereum from FalconX
According to Onchain Lens monitoring, in the past 17 hours, four newly created wallets suspected to be related to Bitmine withdrew a total of 30,422 Ethereum (worth approximately US$140 million) from the FalconX platform.
DDC Enterprise's Bitcoin holdings reached 1,008, placing it among the top 45 global corporate Bitcoin treasuries.
DDC Enterprise announced a significant milestone: its treasury holdings of Bitcoin (BTC) have reached 1,008 in just 96 days, following its initial purchase of 120 BTC on May 23rd. With this additional purchase, the company ranks 42nd on the list of publicly available Bitcoin treasuries worldwide.
▌The size of the Ethereum staking exit queue has reached $4.6 billion, a record high
According to market news released by CryptoSlate: The size of the Ethereum staking exit queue reached US$4.6 billion, a record high.
REX-Osprey Asset Management plans to apply for SEC approval for a BNB-collateralized ETF
According to market news released by The Block: REX-Osprey Asset Management plans to apply for approval from the US SEC for a BNB collateralized ETF, which will follow the advancement path of the Solana fund and is expected to go online in early November.
Tether and Circle minted a combined $1.25 billion in stablecoins today
According to Lookonchain statistics, Tether minted 1 billion new USDT, and Circle minted 250 million new USDC. Over the past month, Tether and Circle minted a combined $8.75 billion worth of stablecoins. An increase in the number of newly minted stablecoins on-chain typically reflects growing market demand for stablecoins and increased user engagement, often correlating with bullish sentiment in the crypto market and indicating an influx of capital into the ecosystem.
Important economic developments
▌The US Treasury Secretary called on the Federal Reserve to conduct an internal review and named Cook's mortgage fraud issue
U.S. Treasury Secretary Jeff Bessant on Wednesday again called on Federal Reserve Chairman Jerome Powell to conduct an internal review of the Fed and include the mortgage fraud allegations against Fed Governor Tim Cook in the review. "I encourage Chairman Powell to conduct an internal review before conducting an external review," Bessant said in an interview with Fox Business Channel. "This is something that needs to be resolved," he said, referring to the Cook incident. "We didn't hear her say 'I didn't do it,' she just kept saying that the president couldn't remove her," Bessant said. He said his view was that "if a Fed official is guilty of mortgage fraud," they should not serve on one of the nation's major financial regulatory bodies. "The Federal Reserve is an unaccountable institution whose relationship with the American people relies on a high level of trust, and events like this undermine that trust."
▌U.S. Treasury Secretary: There are 11 candidates for Federal Reserve Chairman
U.S. Treasury Secretary Benson said: "We have 11 strong candidates for the Federal Reserve Chair position. We will begin interviews after Labor Day and submit a final list to President Trump."
The probability of the Federal Reserve cutting interest rates in September is 88.7%.
According to CME's "Fed Watch," the probability of the Fed keeping interest rates unchanged in September is 11.3%, and the probability of a 25 basis point rate cut is 88.7%. The probability of the Fed keeping interest rates unchanged in October is 5.5%, the probability of a cumulative 25 basis point rate cut is 49%, and the probability of a cumulative 50 basis point rate cut is 45.5%.
Golden Encyclopedia
What is a Bitcoin flash crash?
A Bitcoin flash crash is a sudden, sharp, and brief drop in the BTC market price, after which the price begins to recover. Unique market conditions often cause market fluctuations in the leading cryptocurrency. Flash crashes are typically triggered by a large group of sellers (known as whales) who suddenly decide to sell Bitcoin, flooding the market with supply. This overwhelms buyers and can cost the market billions of dollars in a matter of minutes. The frequency of BTC flash crashes in recent years highlights the volatility risks inherent in cryptocurrencies, even for a strong asset like BTC. Despite its multi-trillion dollar market size, the cryptocurrency market is still maturing. Understanding BTC price crashes and their causes is crucial, especially for new investors in the space. Without this knowledge, witnessing such an event can be devastating and lead to emotionally motivated trading decisions rather than insightful and profitable investments. Traditional stock markets have built-in circuit breakers that temporarily halt trading when an asset or index fluctuates beyond a certain threshold. These circuit breakers are absent in the BTC market, making it difficult to manage rapid market declines.
