Trump: Phase 2 of Russia Sanctions Ready, Hassett Among Fed Nominees
Trump announced that he will start the Section 301 process to remove “unfair penalties” against American companies. He also said that the Russia-Ukraine war will end, otherwise “there will be a heavy price”. He stated that Waller, Warsh and Hassett are among the candidates for Fed chair, and that Hassett is in favor of low interest rates.
US Treasury Secretary Bessent Criticizes Fed
Bessent said that the Fed needs to refocus on building confidence, that its forecasting models are flawed and that its toolkit is too complex. He emphasized that the Fed needs to reduce the distortions it creates in the economy and that unconventional policies should be more coordinated with the government.
The Fed’s Goolsbee: Employment Weak, Decision Not Yet Clear
Chicago Fed President Goolsbee said that job growth is below equilibrium level, it would be worrying if layoffs start. He stated that they hope the increase in service inflation will be temporary. Stating that the US is still close to full employment, Goolsbee pointed out that stagflationary pressures are increasing in the economy.
Metaplanet Buys 136 BTC More, Increasing Its Year-to-Date Return to 487
According to Simon Gerovich, Metaplanet bought 136 BTC, paying about $15.2 million. The average cost was $111,666, bringing the company’s total BTC holdings to 20,136. Thus, since the beginning of 2025, the return on BTC investment has been 487%.
Glassnode: Bitcoin’s Illiquid Supply Hits Record High
According to CoinDesk, Glassnode analysis shows that Bitcoin’s illiquid supply (BTC held by investors with little or no spending history) reached an all-time high of more than 14.3 million BTC at the end of August. About 72% of the 19.9 million BTC in circulation are in this category. The net increase in illiquid supply over the last 30 days was 20,000 BTC, confirming the strong accumulation trend of long-term investors.
Robinhood Reports Strong Second Quarter 2025 Results and Joins the S&P 500
Robinhood (HOOD) has met the profitability benchmark for four consecutive quarters, growing revenues by 56%. The prospect of joining the S&P 500 in June 2025 was confirmed and the company was officially included in the index.
Circle: USDC and CCTP V2 Coming to Hyperliquid
According to Circle’s blog post, the native version of USDC and CCTP V2 will be integrated into the Hyperliquid blockchain. This will allow users to make institutional-scale USDC deposits and withdrawals through HyperCore and HyperEVM applications. Developers will be able to provide secure stablecoin transfers between CCTP V2 and Hyperliquid and other chains. USDC will be the main stablecoin for financial transactions in the ecosystem.
South Korea: Won Stablecoin Issuance Plan with Bank and Fintech Partnership
South Korea’s National Planning Commission is working on a model that would allow banks and non-bank financial institutions to jointly issue won stablecoins, according to News1. The issuance will be licensed under the supervision of the Financial Stability Council. The bill is expected to be submitted to Parliament by the Financial Services Commission in October. This step aims to bring together traditional banking security and fintech innovation.
Tether CEO: Bitcoin Not Sold, Part of Reserves Invested in XXI
In a post on the X platform, Tether CEO Paolo Ardoino announced that the company is not selling Bitcoin, but is directing some of its reserves into the asset called XXI. Ardoino said Tether will continue to invest in safe assets such as Bitcoin, gold and land.
Smart Money Wallet Builds HYPE Position with 2.95 Million USDC
According to data from Aunt Ai, a “smart money” wallet started accumulating HYPE tokens two hours ago, depositing 2.95 million USDC. The wallet spent a total of $8.6 million, buying 175,645 HYPEs at an average cost of $48.96.
Chainlink CEO Nazarov Meets with SEC Chairman Atkins
According to CoinDesk, Chainlink CEO Sergey Nazarov met with US SEC Chairman Paul Atkins on the regulatory compliance of blockchain assets. Nazarov stated that the SEC is accelerating the integration of on-chain assets into existing securities regulations and that full compliance could be achieved by mid-2025. The Chainlink network is currently used by the US Department of Commerce for economic data dissemination.
Number of Artificial Intelligence Companies in China Exceeds 5,000
According to Xinhua, China’s artificial intelligence sector is growing rapidly. More than 5,000 AI firms are operating in the country, and 11 national innovation zones and 17 smart vehicle testing grounds have been established. These developments show that innovation capacity and market potential are growing rapidly.
Standard Chartered: Fed May Cut Rate by 50 bp in September
The bank predicts that the Fed may cut the policy rate by 50 bp instead of 25 bp after August non-farm payrolls data came in very weak and unemployment rose to 4.3%. The institution, which previously pointed to a 25 bp cut, states that the rapid slowdown in the labor market has opened up space for stronger easing.
Bitcoin Spot ETFs Net Inflows of $246 Million
According to SoSoValue data, there was a total inflow of $246 million into Bitcoin spot ETFs last week. BlackRock’s IBIT ETF had the largest inflows at $434 million, bringing total inflows to $58.74 billion. Grayscale’s Bitcoin Mini Trust ETF recorded inflows of $33.29 million.
Record Inflows in Ethereum Spot ETFs with $788 Million
SoSoValue data shows a net inflow of $788 million into Ethereum spot ETFs last week. However, there were net outflows of $312 million in BlackRock’s ETHA ETF and $288 million in Fidelity’s FETH ETF. The total asset value reached $27.64 billion, bringing Ethereum’s market capitalization to 5.28%.
