US Treasury Secretary Bessent: 50 basis point interest rate cut should be considered in September
US Treasury Secretary Bessant said that the Federal Reserve should cut interest rates by 50 basis points in September. He also stated that they hope Milan’s appointment to the Fed Board of Governors will be approved by the Senate before the September meeting. Bessent said that the Fed needs a fundamental restructuring and that if the right data comes in, the rate cut could be made earlier. He also said that rising tariff revenues could make it harder to reverse Trump’s trade policies. He noted that in cases that could go to the Supreme Court, increased fiscal revenues would make it harder for the court to rule against the Trump administration.
Barclays: Stephen Moore Could Be a Surprise Candidate for Fed Chair
Michael Gapen of Barclays Bank emphasized that Stephen Moore, whom Trump nominated to replace Kugler, could be a surprise candidate for Fed chair. If approved by the Senate, Moore could remain in office indefinitely after his term expires. Moore is known to have earned Trump’s trust and strongly supports the president’s policies.
U.S. National Debt Exceeds $37 Trillion
According to data from the U.S. Department of the Treasury, the country’s national debt exceeded $37 trillion for the first time on August 12. Borrowing continues to rise as the federal government adds debt at a record pace. Experts say the fiscal balance has been disrupted and Congress is making the situation worse.
Trump Administration Considering Jefferson for Fed Chair
According to a report by Politico, officials from the Trump administration are considering current Fed Vice Chair Jefferson for the position of Fed chair. If Jefferson is appointed, significant changes in monetary policy management are anticipated. This situation is being closely monitored by the markets.
SUI Network’s Robinhood IPO Announcement Error
SUI Network quickly deleted a blog post announcing that the SUI token would be listed on Robinhood. This led to speculation that the information was shared prematurely. No official confirmation has been made yet.
Circle Announces Arc Blockchain: USDC to Be Used as Native Gas
Circle introduced Arc, an open-source Layer-1 blockchain designed specifically for stablecoin finance. Arc will use USDC as its native gas, offering low and predictable USD-based transaction fees. A public beta launch is planned for fall 2025, with a mainnet launch scheduled for 2026.
Grayscale Cardano Trust ETF Registered in Delaware
The Grayscale Cardano Trust ETF was officially registered in Delaware on August 12, 2025. The asset, with registration number 10293424, was registered through CSC Delaware Trust Company. This step paves the way for the expansion of Cardano-based institutional investment products.
USDC Treasury Mints 500 Million USDC on Solana
According to Whale Alert, USDC Treasury minted a total of 500 million USDC in two transactions on the Solana network at 18:55 and 18:56 Beijing time. Each transaction amounted to 250 million USDC. This could lead to increased liquidity in the Solana ecosystem.
Eden Network Ceases Operations, Launches EDEN Token Buyback Program
Eden Network announced that it has ceased all operations and launched an EDEN token buyback program. The program will repurchase tokens worth 2,000 ETH and will conclude on September 30, 2025. US users will not be eligible to participate in the buyback program.
2,794 ETH Sold from Addresses Linked to the Ethereum Foundation
According to on-chain data, addresses associated with the Ethereum Foundation sold a total of 2,794.87 ETH in the past two hours. The total value of the sales was calculated to be approximately $12.78 million. The sale of 1,100 ETH in the last five minutes alone was converted into $5.06 million in cash.
Mu Digital Receives Support from Cointelegraph Accelerator
Mu Digital, an RWA protocol built on Monad, has joined the Cointelegraph Accelerator program. This support includes financial contributions, media visibility, and strategic advisory services. Mu Digital aims to bring institutional credit services to the blockchain in the Asia-Pacific region.
Aave Enters Top 40 Banks in the US by Deposit Size
According to data obtained on August 13, the deposit amount of the DeFi protocol Aave reached $67.92 billion. This figure surpassed three traditional banks in the US, moving Aave to 38th place. This situation demonstrates the growing influence of DeFi against traditional finance.
ALT5 Sigma Completes $1.5 Billion Private Capital Raise
ALT5 Sigma has completed a $1.5 billion registered direct offering and private placement led by World Liberty Financial. Following the transaction, Eric Trump and other prominent figures joined the company’s management team. Kraken has also joined the process as an asset manager.
Bitcoin Spot ETFs See Fifth Consecutive Net Inflow
According to SoSoValue data, there was a net inflow of $65.94 million into Bitcoin spot ETFs on August 12. BlackRock’s IBIT ETF saw an inflow of $111 million, while ARKB experienced an outflow of $23.86 million. The total value of BTC spot ETF assets reached $155.02 billion.
Ethereum Spot ETFs See 6th Consecutive Net Inflow
Ethereum spot ETFs saw a total net inflow of $524 million on August 12. The largest inflow, $319 million, was recorded by BlackRock’s ETHA ETF. ETHA’s total net inflow reached $10.8 billion.
