Today’s news tips:
Singapore’s DBS Bank Launches Tokenized Structured Notes on Ethereum
Coinbase Adds AWE, DOLO, FLOCK, LAYER, and SPX to Listing Roadmap
BNB Treasury Company WINT Will Be Delisted Due to Failure to Meet Nasdaq Listing Standards
Regulation & Macro
The Federal Reserve released minutes from its July meeting, which noted that many participants discussed recent and future developments related to payment stablecoins and their potential impact on the financial system. These participants noted that the use of payment stablecoins could increase with the recent passage of the GENIUS Act (United States Stablecoin Guidance and National Innovation Act). They stated that payment stablecoins could help improve the efficiency of the payment system and observed that such stablecoins could increase demand for the assets that back them, including U.S. Treasury securities. Furthermore, participants expressed concern that stablecoins could have broader implications for the banking and financial systems, as well as for the implementation of monetary policy, worthy of close attention, including monitoring the various assets used to back stablecoins. The minutes indicate that officials closely monitored the growth of stablecoins and the associated risks following the passage of the GENIUS Act.
According to statistics from the financial blog Zero Hedge, stablecoins were mentioned 8 times in the minutes of this Federal Reserve meeting.
Fed Governor Tim Cook says he won’t resign over bullying, Trump officials swiftly refute
Federal Reserve Board Governor Cook issued a statement saying: “I have learned from the media that Federal Housing Finance Agency Director Pulte posted on social media that he was making a criminal referral for a mortgage application four years ago, which was before I joined the Federal Reserve. I have no intention of being forced to resign because of some questions raised on Twitter and the bullying I have received. As a member of the Federal Reserve, I do take any questions about my personal financial history seriously, so I am gathering accurate information and providing facts to answer any legitimate questions.” Pulte also quickly responded, saying: “Ms. Cook, you or your lawyers can write whatever you want. You were exposed based on mortgage documents, not Twitter.”
Singapore’s DBS Bank Launches Tokenized Structured Notes on Ethereum
According to CoinDesk, DBS Bank, Singapore’s largest bank, announced the issuance of tokenized structured notes on the Ethereum blockchain. These notes are available to qualified and institutional investors on local exchanges ADDX, DigiFT, and HydraX. The first product is a participatory note tied to a cryptoasset, with cash settlement upon price appreciation and loss capping upon price depreciation. The note unit size has been reduced from the traditional $100,000 to $1,000, improving liquidity and trading convenience. Trading volume for these products exceeded $1 billion in the first half of 2025, with a nearly 60% quarter-over-quarter increase in the second quarter. DBS plans to expand into equity and credit notes in the future.
New York lawmakers propose a 0.2% tax on crypto transactions, with no exemption for stablecoins
New York State Assemblyman Phil Steck has proposed a 0.2% tax on all cryptocurrency transactions within the state, raising an estimated $158 million annually to support schools in combating substance abuse. Steck clarified that stablecoins would not be exempt, and high-frequency trading would also be subject to the tax.
Project News
MANTRA proposes to abolish ERC20 OM and adjust the token inflation rate to 8%
According to MANTRA official news, MANTRA Chain is proposing to deprecate the ERC20 version of the OM token and plan to fully migrate it to MANTRA Chain as the sole native foundation. This proposal aims to promote ecosystem development by consolidating liquidity, adjusting the token inflation rate to 8%, setting a supply cap of 2.5 billion OM, and enhancing network security.
Since the launch of the MANTRA Chain mainnet, approximately 250 million OM tokens (approximately 28% of the total supply) have been migrated. If the proposal is passed, the ERC20 OM token will be officially deactivated on January 15, 2026, and any ERC20 OM tokens that have not been migrated will be considered abandoned. Voting will begin at 7:50 PM Beijing time on August 20, 2025, and end at 7:50 PM on August 22, 2025.
According to the latest news released by Kaito founder Yu Hu, Kaito achieved an annualized revenue of approximately US$40 million in the first half of the year, of which more than 80% can be verified on-chain, making it the highest-earning AI application in the crypto field.
Kaito has outlined its future growth plan, with the focus over the next 12 months including strengthening on-chain and social integration, optimizing leaderboards and Kaito Earn to improve matching efficiency and return on investment, and promoting the construction of a multi-platform distribution network.
Kaito also announced the launch of Kaito Venture, which aims to invest in and accelerate crypto applications that can leverage its distribution advantages, further enhancing the ecosystem’s value cycle. Yu Hu stated that Kaito is at a critical juncture in innovation and will drive industry development based on its vision of “information financialization” through core features such as sovereign data ownership, market-driven signals, and an open information marketplace.
The company plans to use its strategic reserve of 6 million KAITO tokens to incentivize creators and ecosystem development, while exploring long-term behavioral reward mechanisms to promote network growth.
Coinbase Adds AWE, DOLO, FLOCK, LAYER, and SPX to Listing Roadmap
Coinbase Assets announced today that it has added AWE Network (AWE), Dolomite (DOLO), Flock (FLOCK), Solayer (LAYER), and SPX6900 (SPX) to its asset listing roadmap. The official contract addresses for each asset on the Base, Ethereum, and Solana networks have also been released. The platform stated that the launch of trading for these assets is subject to market support and technical requirements, and the specific launch date will be announced separately.
BNB Treasury Company WINT Will Be Delisted Due to Failure to Meet Nasdaq Listing Standards
According to an announcement on the SEC’s official website, Nasdaq has decided to suspend trading of Windtree Therapeutics (WINT) common stock, effective August 21, 2025, and initiate delisting procedures due to its failure to comply with Nasdaq Listing Rule 5550(a)(2). The company’s shares will be transferred to the OTC market, trading under the symbol WINT. Windtree Therapeutics has applied for listing on the OTCID market, but approval is not guaranteed. The company’s business and operations remain unaffected, and it will continue to submit regular reports to the SEC.
According to an announcement from the Wormhole Foundation, LayerZero has proposed acquiring Stargate (STG) for approximately $110 million in ZRO tokens. Wormhole believes this offer undervalues the Stargate protocol’s assets and growth. Stargate’s bridged volume reached $4 billion in July, a tenfold year-over-year increase, with a TVL of $345 million and projected annual revenue of $2 million. Wormhole plans to submit a higher bid and has requested a five-day suspension of the current snapshot voting process to allow for the completion of the bidding process and protect the interests of STG holders.
Judge unfreezes $57.6 million in USDC assets related to Libra
According to Decrypt, a Manhattan federal judge has unfrozen $57.6 million in USDC assets linked to the Libra (LIBRA) meme coin scandal. The assets were previously frozen after investors accused Hayden Davis (CEO of Kelsier Labs) and Ben Chow (founder of Meteora) of misleading them. The judge stated that the defendants cooperated in the lawsuit, the plaintiffs failed to prove irreparable harm, and the case remains in its early stages. Libra, which was promoted by Argentinian President Javier Milei, saw its market value plummet 97% after its IPO.
Kanye West Launches Meme Coin YZY on Solana
According to Aggr News, Kanye West has launched a meme coin called “YZY” on the Solana blockchain.
It is reported that Kanye West (now known as Ye), born in Atlanta, USA in 1977, is one of the most influential hip-hop musicians in the world, as well as a songwriter, producer and entrepreneur.
According to the YZY Money website, YZY Money has launched a new token, YZY, minted on the Solana blockchain. YZY supports crypto payments through Ye Pay, can be purchased with credit cards or USDC, and can be traded through the Jupiter App. YZY uses a random selection mechanism for 25 contract addresses to prevent front-running, and the official liquidity pool is now live. Team shares are locked on-chain using the Jupiter Lock protocol and unlocked in batches, with lock-up periods of 3, 6, and 12 months, followed by a 24-month linear release. YZY, Ye Pay, and YZY Card are independent projects, and YZY does not constitute an investment contract or security.
Of the total supply of YZY tokens, 20% is allocated to the public, 10% is used for liquidity, and Yeezy Investments LLC receives a 50% share, which is locked in three tiers: 30% is unlocked after three months, 20% is unlocked after six months, and 20% is unlocked after twelve months, all using a 24-month linear release mechanism.
Hyperliquid Launches $YZY Trading with Up to 3x Leverage
YZY Money official documents contain a “class action waiver” clause
According to YZY Money’s official documentation, the terms include a “class action waiver.” “To the extent permitted by law, you agree not to initiate, join, or participate in any class action lawsuit with respect to any claim, dispute, or controversy you may have against any Indemnified Party. You agree that a court may award injunctive relief to prevent such action or remove you from such action. You agree to pay any attorneys’ fees and litigation costs incurred by any Indemnified Party in pursuing such relief.”
Binance: Users holding at least 200 Alpha Points can claim 625 ARIA airdrops
Binance Alpha will launch Alpha trading for AriaAI (ARIA) tonight at 8:00 PM. Users holding at least 200 Binance Alpha Points can claim 625 ARIA airdrops on a first-come, first-served basis. Claiming will cost 15 points. If the reward pool remains unallocated, the point threshold will automatically decrease by 15 points every hour. Users must confirm their claim within 24 hours.
Binance will suspend USDC withdrawals for AVAX-C tomorrow for wallet maintenance
Binance will perform wallet maintenance on Avalanche C-Chain (AVAX-C) withdrawals at 3:00 PM (UTC) on August 22, 2025. To support this maintenance, Binance will suspend USDC (USDC) withdrawals from Avalanche C-Chain (AVAX-C) at 3:00 PM (UTC) on August 22, 2025. The maintenance is expected to take two hours, and withdrawals will resume automatically after the maintenance is complete.
YZY is now available on Binance Alpha
The Binance APP page shows that YZY is now available on Binance Alpha.
DeepSeek releases V3.1 model, upgrading hybrid inference architecture and agent capabilities
DeepSeek announced the release of its V3.1 model, which utilizes a hybrid inference architecture and supports flexible switching between thinking and non-thinking modes, improving both thinking efficiency and agent task performance. The API has also been upgraded to support 128KB of context and the Anthropic API format, and a new strict mode has been added to Function Calling. The Base model has been expanded to train up to 840B tokens and has been open-sourced on Hugging Face and Moda. The company also announced that API pricing will be adjusted starting September 6th, with the removal of nighttime discounts.
Gemini co-founder Tyler Winklevoss announced that he and Cameron Winklevoss jointly donated 188.4547 bitcoins, worth approximately $21 million, to the Digital Freedom Fund PAC (Political Action Committee) to support US President Trump’s vision of making the United States a global cryptocurrency center.
The fund will focus on winning the midterm elections, promoting market structure legislation, opposing central bank digital currencies (CBDCs), and safeguarding the freedom and development of the crypto industry. Furthermore, the fund supports “Project Crypto,” an initiative aimed at further consolidating the US’s leadership in the crypto space through collaboration between the SEC and the CFTC. The Winklevoss brothers called for greater participation to jointly promote a golden age for the US crypto industry.
Viewpoints & Analysis
According to CryptoQuant analysis, Bitcoin is currently experiencing slowing demand and profit-taking. Since July, apparent demand for Bitcoin has fallen by two-thirds, from a peak of 174,000 to the current 59,000. Meanwhile, demand from US ETFs and institutional buyers has also declined significantly, with 30-day net ETF purchases falling to 11,000, the lowest since April. Market sentiment has shifted from “extremely bullish” to “cooling bullish,” and Bitcoin’s price has slowed after breaking through $120,000. Furthermore, since July, Bitcoin holders have realized $74 billion in net profits, including $2 billion in profits for whale investors on August 16th. CryptoQuant believes that Bitcoin’s downside risk is limited, with $110,000 likely acting as support. This price, realized by on-chain traders, could reduce market participants’ incentive to sell.
The release of YZY 5 hours after the Libra initiator’s funds were unfrozen sparked community doubts
Data shows that the $YZY token’s market capitalization reached $3 billion within two hours before retreating. On-chain transaction volume reached $512 million in just three hours. Scooter, a crypto influencer who previously broke the inside story about the LIBRA token, tweeted that the release of YZY five hours after Hayden Davis’ funds were unfrozen was likely no coincidence.
On-chain detective ZachXBT announced on the X platform that since 2021, he has publicly released over 150 investigations, with potentially over 250 cases under investigation. Over 95% of this work is pro bono. Based on a commission of $5,000-10,000 per case, this translates to a theoretical income of $750,000 to $1.5 million. Some successful cases have helped recover over $300 million. ZachXBT stated that he will no longer conduct pro bono investigations and hopes to receive fair compensation.
Financing News
Blockchain startup Legion completes $5 million seed round led by VanEck and Brevan Howard Digital
According to Fortune, blockchain startup Legion announced the completion of a $5 million seed round of financing led by VanEck and Brevan Howard Digital, with participation from institutions such as Kraken, Coinbase and Crypto.com.
Legion aims to create a compliant ICO platform, offering companies rigorous IPO-like standards while leveraging crypto technology to facilitate token sales. The founders stated that the platform will adhere to the latest EU regulations, requiring projects to publish detailed white papers and regularly update them, to avoid scams common in the ICO era. This funding round includes equity and token subscription rights, and the specific valuation was undisclosed.
DigiFT, an on-chain RWA exchange, announced the completion of a new round of strategic financing in August 2025, led by SBI Holdings, Japan’s largest financial group, with participation from Mirana Ventures, Offchain Labs (Arbitrum), Yunqi Capital, and global fintech executives. This round brings DigiFT’s total funding to $25 million. The funds will be used to expand tokenized products, enhance secondary market liquidity for RWA, expand on-chain application scenarios, and build a compliant smart contract infrastructure.
Important data
According to Ember’s monitoring, a user who rolled over 125,000 ETH to $6.99 million withdrew 130,000 USDC from Hyperliquid 40 minutes ago, effectively withdrawing $125,000 in principal. He then used the remaining $640,000 in profits to open a long position of 3,694 ETH at 25x leverage, totaling approximately $15.75 million. The opening price was $4,272, and the liquidation price was $4,183.
Coinbase executive estimates: At least 94% of new Kanye tokens are held internally
Coinbase director Conor Grogan tweeted that at least 94% of the new Kanye tokens are held internally, of which 87% were once controlled by a single multi-signature wallet and are now dispersed across multiple addresses; about 3% were purchased in large amounts by multiple wallets at the opening, and 7% were used in liquidity pools.
According to SoSoValue data, Bitcoin spot ETFs saw a net outflow of $312 million yesterday (August 20th, EST). The Bitcoin spot ETF with the largest single-day net inflow yesterday was the Bitwise ETF (BITB), with a net inflow of $619,800, bringing BITB’s total net inflow to $2.229 billion. The Bitcoin spot ETF with the largest single-day net outflow yesterday was the Blackrock ETF (IBIT), with a net outflow of $220 million, bringing IBIT’s total net inflow to $58.385 billion.
As of press time, the total net asset value of the Bitcoin spot ETF was US$147.018 billion, the ETF net asset ratio (market value as a percentage of the total market value of Bitcoin) reached 6.46%, and the historical cumulative net inflow has reached US$54.018 billion.
Ethereum spot ETFs saw a total net outflow of $240 million yesterday, the third highest in history.
The Ethereum spot ETF with the largest daily net inflow yesterday was the Grayscale Ethereum Mini Trust ETF (ETH), with a net inflow of $9.0017 million, bringing ETH’s total historical net inflow to $1.312 billion. The second largest was the Fidelity ETF (FETH), with a net inflow of $8.642 million, bringing FETH’s total historical net inflow to $2.51 billion. The Ethereum spot ETF with the largest daily net outflow yesterday was the Blackrock ETF (ETHA), with a net outflow of $258 million, bringing ETHA’s total historical net inflow to $11.814 billion.
As of press time, the total net asset value of the Ethereum spot ETF was US$26.857 billion, the ETF net asset ratio (market value as a percentage of Ethereum’s total market value) reached 5.11%, and the historical cumulative net inflow has reached US$11.802 billion.
Solana network real TPS reached 2300 during the $YZY launch, setting a new all-time high
SolanaFloor tweeted that the Solana network’s TrueTPS reached 2,300 for the first time during the $YZY token launch, setting a new all-time high, which may indicate that the network has made significant improvements since the launch of the $TRUMP token.
The YZY team collected over $9 million in fees in a few hours
According to user X bizzy, the YZY team collected approximately $9.164 million in fees within a few hours through a 1% dynamic fee pool. The team used a 100-bin step rather than a 50-bin step pool design, resulting in traders paying a total of approximately 10% in fees, including a 4-5% hidden fee.
According to Ember’s monitoring, a whale/institution holding 10,606 BTC (approximately $1.21 billion) sold 670 BTC (approximately $76.38 million) in the past 20 hours. They also used $58.5 million in USDC via four wallets to buy 69,983 ETH in the $4,300-4,333 range, a position valued at approximately $301 million. The institution initially withdrew 14,837 BTC from Binance and HTX in 2018, partially having sold some of it.
69 institutional vaults hold over 4.1 million ETH, valued at approximately $17.6 billion, representing 3.39% of all circulating Ethereum. BitMine holds the largest ETH, valued at approximately $6.6 billion, with approximately 1.5 million ETH. SharpLink Gaming holds approximately 740,800 ETH, Ether Machine holds approximately 345,400 ETH, and the Ethereum Foundation holds 231,600 ETH. Public corporate ETH vaults hold a total of 2.6 million ETH, valued at approximately $10.9 billion. US spot Ethereum ETFs hold approximately 6.7 million ETH, representing 5.5% of the total supply.