The chairman of the U.S. SEC stated that only a few crypto tokens are securities; Wyoming launched the first state-level stablecoin FRNT; Strategy lowered the threshold for additional issuance, and the new policy allows MSTR to issue new shares when its net assets are less than 2.5 times.
Today’s news tips:
Wyoming launches its first state-level stablecoin, Frontier (FRNT), now listed on seven blockchains
SkyBridge Capital plans to tokenize $300 million in assets on Avalanche
Pump.fun’s cumulative revenue has exceeded US$800 million, mainly from 1% transaction fees
The total market capitalization of the Shanghai and Shenzhen stock markets once again exceeded 100 trillion yuan ; Pop Mart’s market capitalization hit a record high
The cost price of ETH held by BitMine and SharpLink is $3,730 and $3,478 respectively
Regulation & Macro
UNDP Announces Stellar and FLock.io Join SDG Blockchain Accelerator
Bowman, the Federal Reserve’s vice chair for financial supervision, suggested on Tuesday that Fed staff should be allowed to hold small amounts of crypto products, arguing that experience will help them better carry out their regulatory work in these financial markets. Bowman said that relaxing restrictions on employee investments may also help recruit and retain professional bank examiners, and that “minimum” holdings of cryptocurrencies and other digital assets will help employees gain a practical understanding of these products. “Nothing can replace hands-on practice and understanding the process of holding and transferring crypto assets,” she said in prepared remarks at a cryptocurrency conference in Wyoming. Bowman did not disclose specific information such as the specific amount or type of holdings she was considering, but her remarks once again indicate that the Trump administration’s regulators are becoming more friendly toward the cryptocurrency field.
US SEC Chairman Says Only a Few Crypto Tokens Are Securities
U.S. SEC Chairman Paul Atkins said only a small number of crypto tokens should be considered securities.
Wyoming has officially launched the Frontier Stable Token (FRNT), becoming the first US state to issue its own stablecoin. FRNT, backed by US dollars and short-term Treasury bonds, is currently listed on seven blockchains, including Ethereum, Solana, Arbitrum, Avalanche, Polygon, Optimism, and Base. However, due to regulatory hurdles, the token is not yet available to the public.
According to the Wall Street Journal, Elon Musk has slowed down his plans to establish a third political party, the “America Party.” Sources familiar with the matter say Musk prefers to focus on running his companies and is cautious about forming a party, as he doesn’t want to divert Republican votes. Sources say Musk has been trying to maintain contact with Vice President Cyril Vance. Musk previously stated that the new party aims to restore voter “freedom,” but recently told allies that he will hold off on moving forward.
Project News
Tether appoints former White House Crypto Council Executive Director Bo Hines as strategic advisor
Tether has announced the appointment of Bo Hines as Strategic Advisor, responsible for digital assets and US market strategy. Hines, who previously served as Executive Director of the White House Cryptocurrency Council during the Trump administration, will assume the role immediately and assist Tether in advancing US market expansion and core strategies. With extensive experience in public policy, law, and the private sector, he has led innovative initiatives such as stablecoin regulatory frameworks and collaboration between the government and the blockchain industry.
Polkadot Launches Institutional Division, Polkadot Capital Group, Connecting Wall Street and Web3
SkyBridge Capital plans to tokenize $300 million in assets on Avalanche
SkyBridge Capital, the investment firm led by Anthony Scaramucci, announced plans to tokenize approximately $300 million in assets and deploy them on the Avalanche blockchain. This represents approximately 10% of SkyBridge’s assets under management, including funds focused on non-securities like Bitcoin and other portfolio funds. The tokenization will be accomplished through its partner, Tokeny.
Thumzup plans to acquire Dogehash in all-stock deal, expanding into Dogecoin and Litecoin mining
Thumzup, a social media company backed by the Trump family, announced that it will acquire Dogehash Technologies, an industrial-grade blockchain mining company specializing in Dogecoin and Litecoin mining, in an all-stock transaction.
Coinbase to List Useless Coin (USELESS)
The Puffer domain name issue has been resolved and full service will be restored soon
Binance Alpha to List AriaAI (ARIA) on August 21st
Binance announced that its Alpha platform will launch AriaAI (ARIA) on August 21st (Beijing time). Eligible users can claim the airdrop rewards using Alpha Points through the Alpha Events page after trading begins.
Robinhood Launches SUI Spot Trading
280 Bitcoin domain names auctioned off, Lloyds accepts cryptocurrency payments
Australian auction house Lloyds has announced the auction of over 280 Bitcoin-related domain names, including BitcoinWallets.com, BitcoinExchanges.com, and JapanBitcoin.com. Some of these domain names date back to 2010. Lloyds previously sold XBT.com for $3 million. This auction is subject to pre-qualification and accepts payment in cryptocurrencies such as Bitcoin and Ethereum. Lloyds did not disclose the specific valuation, describing the domain names as “the language of the Bitcoin digital economy.”
MSTR (MSTR) announced it is lowering the threshold for issuing additional shares to raise more funds for Bitcoin purchases. The company’s updated policy allows MSTR to issue new shares when its net asset value falls below 2.5 times its net asset value to repay debt interest and pay dividends.
Binance: Hold at least 200 Alpha Points to receive a 200 SAPIEN airdrop
Binance Alpha has become the first platform to list Sapien (SAPIEN) . Alpha trading and futures trading will be available gradually. Users holding at least 200 Binance Alpha Points can claim a 200 SAPIEN airdrop on a first-come, first-served basis until the airdrop pool is fully distributed or the event ends. Claiming the airdrop requires 15 points and users must confirm their claim within 24 hours on the Alpha event page. Otherwise, the airdrop will be forfeited.
Binance Alpha will launch DecentralGPT (DGC) and open Alpha trading simultaneously at 8:00 PM Beijing Time on August 20, 2025. Eligible users holding at least 200 Alpha Points will be eligible to participate in a 500,000 DGC airdrop on a first-come, first-served basis. The point threshold will automatically decrease by 15 points every hour until the airdrop is fully distributed. Successful claiming requires 15 Alpha Points, and users must confirm their claim within 24 hours on the Alpha event page; otherwise, the claim will be forfeited.
Binance Alpha to List Sapien and Launch SAPIENUSDT Perpetual Contract
Binance announced that it will open Sapien (SAPIEN) trading on Binance Alpha at 5:00 PM (UTC) on August 20th, and will launch SAPIEN USDT perpetual contracts with up to 50x leverage at 5:30 PM. Binance is the first platform to list this project, and users can participate in the airdrop through Binance Alpha Points. Sapien is committed to building a decentralized AI training data network using an on-chain Proof of Quality mechanism.
According to HyperliquidFR, Hyperliquid generates $102.4 million in annual revenue per employee, making it the highest-per-employee company in the world. Data from DefiLlama and other sources indicates that the Hyperliquid team, comprised of 11 core members, generates an estimated $1.127 billion in annual revenue, surpassing companies like Tether, OnlyFans, Nvidia, and Apple.
SoFi and Lightspark partner to launch Bitcoin Lightning Network cross-border remittances this year
According to CoinDesk, SoFi Technologies announced a global remittance service, leveraging Bitcoin’s Layer 2 Lightning Network, in partnership with Lightspark. Users can initiate remittances in US dollars within the SoFi app, and recipients will receive funds in their local currency. The service, which integrates Lightspark’s Universal Money Address (UMA), supports real-time cross-border transfers, displaying exchange rates and fees. Expected to launch later this year, this product launch marks SoFi’s return to the crypto space, marking its renewed commitment to blockchain remittances after suspending this service in 2023. SoFi becomes the first US bank to integrate Bitcoin’s Lightning Network and UMA for cross-border payments.
1inch Launches Cross-Chain Swap Functionality Between Solana and EVM Chains
1inch has launched native cross-chain swap functionality between Solana and multiple EVM chains, including Ethereum and Polygon. This feature allows users to swap assets directly between chains without relying on a cross-chain bridge, reducing the complexity of fund transfers and improving security. This feature is available through 1inch’s dApp, wallet, and Fusion+ API, and includes built-in protection against malicious extraction of value (MEV).
Viewpoints & Analysis
According to data from The Block, hedge funds’ short positions surged after Ethereum’s price recently broke through $4,000. Short positions reached $2.3 billion on August 5 and have now risen to $4.19 billion, a record high. Meanwhile, asset managers hold $1.22 billion in long positions, with unreported positions totaling $77.5 million. The “other” category has a net short position of -$397.5 million. Analysts suggest that elevated short positions could trigger a short squeeze, driving price volatility.
Important data
As of the close of August 20, 2025, the total market value of stocks on the Shanghai Stock Exchange was 60,473.846 billion yuan, the total market value of stocks on the Shenzhen Stock Exchange was 39,962.047 billion yuan, and the total market value of stocks in the two markets was 100,435.893 billion yuan.
Pump.fun’s cumulative revenue has exceeded US$800 million, mainly from 1% transaction fees
According to The Block, Pump.fun, the Solana-based Memecoin issuance platform, has accumulated over $800 million in revenue, primarily from 1% transaction fees. The platform recently regained its lead in graduated tokens as top Memecoin deployers from LetsBonk.fun migrated to Pump.fun. Pump.fun consistently generates over $1 million in daily revenue, while LetsBonk.fun’s revenue has fallen below $30,000. Furthermore, Pump.fun raised $600 million in 12 minutes through its initial coin offering last month and is currently buying back tokens at above-market prices to stabilize the price. Solana was recently surpassed by the Base network, with Base launching 57,970 Memecoins in a single day, compared to Solana’s 32,760.
KindlyMD Acquires 5,744 Bitcoins to Expand Nakamoto Bitcoin Reserve
Nasdaq-listed company KindlyMD announced that it has acquired 5,743.91 bitcoins through its wholly-owned subsidiary Nakamoto Holdings, bringing its total holdings to 5,764.91 bitcoins.
SharpLink increased its holdings by 143,593 ETH, bringing its total holdings to 740,760 ETH
SharpLink announced it has increased its ETH holdings by 143,593 at an average price of approximately $4,648, bringing its total holdings to 740,760. As of August 17, 2025, the company has raised $537 million through ATMs and direct issuance. Staking rewards have accumulated to 1,388 ETH since June 2nd, increasing the ETH concentration by 94% to 3.87. Furthermore, the company has over $84 million in cash remaining to be deployed.
LM Funding America raises $23 million to expand its BTC reserves, currently holding 150 BTC
The cost price of ETH held by BitMine and SharpLink is $3,730 and $3,478 respectively
According to Ember statistics, BitMine (BMNR) began to increase its ETH holdings on July 9, and held 1,523,373 ETH as of August 17, with an average cost of US$3,730; SharpLink (SBET) began to increase its ETH holdings on June 13, and held 740,760 ETH as of August 17, with an average cost of US$3,478.