1. Popular CEX currencies
Top 10 CEX trading volume and 24-hour price changes:
- BTC: -1.38%
- ETH: -1.68%
- DOGE: -1.94%
- BNB: -3.63%
- SOL: -3.60%
- SC：5.10%
- BIO: 16.06%
- ATM: -0.63%
- DATA：-0.63%
- PIVX: -2.97%
24-hour price increase list (data source: OKX):
- RUNECOIN: 20.70%
- BIO: 17.36%
- SKL: 12.84%
- OKB: 11.64%
- ASP: 5.67%
- SC：4.58%
- NMR: 4.56%
- UMA: 4.25%
- ZKJ: 2.90%
- MAJOR：2.87%
2. Top 5 popular memes on the chain (data source: GMGN ):
- LILPEPE
- LBRETT
- PPEPE
- MEMES
3. 24-hour hot search currencies
Globally renowned rapper Kanye West launched a new token, YZY, on platform X, and subsequently released a video featuring him in person to announce the official launch of the YZY token. Within hours, the market capitalization surged to over $3.2 billion before falling back to around $970 million. The token price is currently trading at $0.82. Coinbase executive Conor Grogan also revealed that at least 94% of the new Kanye token is internally held. 87% of the token was previously controlled by a single multi-sig wallet but is now distributed across multiple addresses. Approximately 3% was purchased in large quantities by multiple wallets at the market opening, and 7% was used for liquidity pools. This is clearly inconsistent with the token economic model on the YZY token website, which states that "20% will be publicly issued, and 30% will be held by the issuer and locked up for three months." YZY may represent insider trading, and investors should be aware of the risks involved. Meme coins are highly volatile, so be aware of the risks.
Headlines
Workers' Daily: Abnormal transactions of virtual currencies may be suspected of crimes
The Beijing Second Intermediate People's Court recently heard a case involving the use of virtual currency transactions to conceal and hide criminal proceeds. The defendant, knowing that the proceeds were criminal proceeds, assisted in the transfer and was sentenced to three years and six months. In August 2024, Liu, knowing that the cash held by He was criminal proceeds, sold USDT (commonly known as U-coins) to He and received 200,000 yuan in cash. The whereabouts of the funds involved in the case have been unknown. An investigation revealed that the 200,000 yuan Liu transferred was the result of fraudulent activity.
The court's effective judgment held that Liu, knowing that the proceeds were criminal proceeds, still assisted in the transfer, and his actions constituted the crime of concealing and concealing the proceeds of crime. The court found Liu guilty of concealing and concealing the proceeds of crime and sentenced him to three years and six months in prison, a fine of 40,000 yuan, and the recovery of his illegal gains.
The judge stated that defendants in cases of concealing or hiding the proceeds of crime are typically profit-driven and harbor a sense of luck. Many defendants, succumbing to the lure of high, short-term profits, commit crimes. Despite increasing publicity efforts against telecom fraud, most defendants are aware that the property involved may be the proceeds of fraud. However, some continue to believe that their concealment or concealment will be difficult to detect, or that even if discovered, the consequences will be minimal, leading them to risk violating the law.
The judge warned people to be wary of any requests for "abnormal transactions" under the guise of virtual currency. Avoid engaging in the buying, selling, or transferring of virtual currency or funds of unknown origin simply for the sake of petty profits like "handling fees" or "price differences," or by relying on promises made by others. Assisting in the conversion, transfer, or cashing out of funds, knowing that they represent the proceeds of crime, could constitute a criminal offense, constituting the concealment or concealment of criminal proceeds and carrying severe penalties.
The dollar rose slightly after the minutes of the Federal Reserve's July meeting showed that policymakers were more concerned about high inflation than a slowing labor market. The minutes noted that "most participants viewed the risks to inflation as higher than those to a slowing labor market." The meeting preceded the release of July's non-farm payroll data, which fell short of expectations. Danske Bank analysts said in a report that this meant the Fed minutes were "somewhat outdated," leading to a relatively limited market reaction. Market focus now shifts to Fed Chairman Powell's speech at the Jackson Hole Symposium on Friday.
Kanye West Releases Meme Coin YZY
Kanye West releases Meme Coin YZY on Platform X.
The account X, which previously claimed that the MyStonks platform blocked $6.2 million in withdrawals, said in a post, "The information previously posted by this account about the MyStonks platform was false and has now been deleted."
The community speculated that the two parties had reached a settlement. However, the account also stated, "There will be surprises after the matter is completely over."
Related Reading: $6.2 Million Withdrawal Blocked? MyStonks Directly Responds: Due to Regulatory Enforcement, Not Platform Misappropriation
Industry News
Executives from Tether and Circle will meet this week with the CEOs of several top South Korean financial groups, including Shinhan Financial Group CEO Kim Ok-dong and Hana Financial Group CEO Ham Young-joo. The talks will focus on the potential distribution and use of US dollar stablecoins in South Korea, as well as the issuance of a South Korean won-backed stablecoin. The meeting comes as South Korea prepares to launch a legal framework for stablecoins in October, amidst disagreements between the ruling and opposition parties regarding stablecoin regulation.
Gemini announced that it has received the MiCA license from the Malta Financial Services Authority (MFSA). This license allows Gemini to expand its cryptocurrency services to more than 30 European countries in the EU.
Fed's Bostic: Fed policy has been positioned to push inflation back to 2%
Fed's Bostic said that the Fed's policy has been positioned to push inflation back to 2%. The inflation rate is still well above the Fed's 2% target, and the unemployment rate has been consistent with full employment for some time.
Former St. Louis Fed President Bullard: I do think the Fed will cut rates in September
Former St. Louis Fed President Bullard: I do think the Fed will cut interest rates in September.
U.S. Justice Department officials urge Fed Chairman Powell to remove Governor Cook
U.S. Justice Department officials urged Federal Reserve Chairman Powell to remove Governor Cook and plan to investigate Fed Governor Cook over mortgage issues, necessitating further review of his criminal referral. Furthermore, White House trade advisor Peter Navarro said Powell's anti-Trump stance was disturbing.
Project News
Camp Network airdrop query is now online
According to official news, Camp Network's airdrop query function is now live. Users need to use the wallet address they previously interacted with to verify whether they have received the Camp Network Season 1 airdrop. In addition, users must pay 0.0025 ETH to register an account to confirm airdrop eligibility.
Kaito: Boundless token sale will be launched on August 25, with a minimum subscription of $100
Kaito announced on the X platform that the Boundless token sale will take place at 8:00 PM Beijing time on August 25th. The project is currently valued at $290 million (previously $333 million).
The fundraising target is $4 million, with a minimum purchase of $100 and a maximum of $100,000 per user. The maximum amount of tokens offered is 2.9% of the total supply. Furthermore, the tokens will be unlocked in a 50% TGE, with the remaining 50% unlocked six months later.
Mike Dudas, co-founder of The Block and investor of 6 MV, posted on X that the pump.fun team has begun distributing locked tokens to some investors, including 6 MV. All tokens will be locked through Coinbase Custody and unlocked according to the previously announced lock-up time.
Finity, the RWA infrastructure protocol, announced that its mainnet development and node staking plans will be accelerated, aiming to open up the key links of compliant asset on-chain through innovative RWA mapping and revenue mechanisms.
According to official introduction, Finity has cooperated with many Web 3 institutions, node service providers and asset parties, and has received preliminary contact from some exchanges and custodian institutions.
Perhaps because a US judge lifted the freeze on Libra's initiator's funds worth US$57.6 million, the price of LIBRA rose by more than 380% in 24 hours, and its market value was temporarily reported at US$11 million.
SOL Treasury Company DeFi Development Plans to Launch ".dfdv" Domain Name Plan
DeFi Development, a Nasdaq-listed Solana treasury company, announced that it has signed a letter of intent with AllDomains Labs Limited to establish a joint validator partnership. The two parties will collaborate on operating a high-performance Solana validator. Additionally, DeFi Development will launch the ".dfdv" domain name program, further expanding DFDV's digital identity.
Regulatory trends
According to stackfy.app, Brazil's Chamber of Deputies held a hearing to discuss Bill No. 4501/2024, which proposes allocating up to 5% (approximately $16.4 billion) of international reserves to Bitcoin, to be managed by the Central Bank and the Ministry of Finance. The Central Bank opposed the proposal, arguing that Bitcoin's high volatility could undermine the credibility of monetary policy. The bill remains pending further review.
New York Attorney General appeals US court ruling against Trump's civil fraud case
On August 21st, the New York State Court of Appeals overturned a civil fraud fine of approximately $500 million imposed on President Trump. Trump, in a post on his social media platform, "Real Social," expressed deep respect for the court's "courage to overturn this illegal and shameful ruling," and described it as "an unprecedented witch hunt from a business perspective." The New York State Attorney General's Office appealed the court's ruling the same day.
Acting Assistant Attorney General Matthew Galeotti of the U.S. Department of Justice's Criminal Division stated at the American Innovation Project event that "simply writing code without malicious intent is not a crime." He emphasized that the DOJ will continue to prosecute crimes involving fraud, money laundering, and sanctions evasion, but will not use criminal law to impose a new regulatory framework on the crypto industry. This statement came weeks after Tornado Cash founder Roman Storm was convicted of operating an unlicensed money transmitter business, sparking industry debate over whether the charges should be dropped. The DOJ's shift in stance is believed to be linked to the new Trump administration's shift in digital asset policy.
Investment and Financing
Boyaa Interactive International Limited announced that it has entered into a placing agreement with the placing agent to place up to 63,510,000 new shares at a placing price of HK$6.95 per share. The placing shares represent 8.93% of the total issued shares, or approximately 8.20% of the total issued shares after enlargement.
The maximum total proceeds from the placing will be HK$441 million, with an estimated net proceeds of approximately HK$436 million, which will be used for business development in the Web 3 field, including Web 3 game research and development and promotion, infrastructure construction, project investment and strategic cooperation, as well as the Group's business working capital and general corporate purposes.
Boyaa Interactive also resumed trading. As of press time, Boyaa Interactive (HK:00434) was trading at HK$8, with an intraday increase of 5.68%.
In March this year, Boyaa Interactive (0434.HK) announced that its total bitcoin holdings had increased to 3,350, with an average holding price of US$58,627.
Programmable data chain Irys completes $10 million Series A financing, led by CoinFund
Programmable data chain Irys has completed a $10 million Series A financing round led by CoinFund, with participation from Hypersphere, Tykhe Ventures, Varrock Ventures, Breed VC, Echo Group, Amber Group and WAGMI Ventures. As of now, the company's total financing amount has reached $20 million.
London-based digital asset trading company LO:TECH has completed a $5 million seed round of financing led by 13 books Capital, with participation from Lightspeed Faction, Veris Ventures, CRIT Ventures USA, and angel investors Mark Ransford and Rodney Ngone. The new funds intend to be used to build a unified high-frequency infrastructure for on-chain capital markets.
Artificial intelligence startup EliseAI completes $250 million in Series E funding, led by A16z
Artificial intelligence startup EliseAI has completed a $250 million Series E funding round led by A16z, with participation from Bessemer Venture Partners, Sapphire Ventures, and Navitas Capital. The round doubled the company's valuation to over $2.2 billion. Founded in 2017 by Minna Song (CEO) and Tony Stoyanov (CTO), EliseAI is dedicated to building specialized AI systems for vertical applications such as operating call centers and managing patient appointments.
Stablecoin payment processor Loop Crypto announced the completion of a strategic round of financing, led by VanEck and Fabric Ventures. The specific amount has not been disclosed. The company only stated that the total amount of financing to date has reached US$6 million. The new funds are intended to support the construction of functions such as charging subscription fees using stablecoins.
Character Voice
BitMEX co-founder Arthur Hayes: Ethereum has been repurchased and will rise to $20,000 in this cycle
In a video interview, BitMEX co-founder Arthur Hayes said he had repurchased Ethereum (ETH) because "the chart shows that the price will continue to rise" and expected Ethereum to rise to $20,000 in this cycle.
OKX Star: The value of X Layer lies in long-term development rather than short-term OKB speculation
OKX CEO Star stated in a post on the X platform that the value of the X Layer lies in long-term development and ecosystem development, not short-term OKB speculation. He also reminded investors: Trading carries risks, investors should invest with caution and avoid blindly following hot spots.
Eric Trump, Trump's second son and executive vice president of the Trump Organization, stated at the Jackson Hole SALT conference that Bitcoin will "without a doubt" surpass $1 million. He called himself a "Bitcoin maximalist" and predicted the price would reach $175,000 by the end of the year. American Bitcoin, founded this year by Eric Trump and his brother, Donald Trump Jr., has merged with American Data Center and plans to list on the Nasdaq through a merger with Gryphon Digital Mining.
Regarding Letsbonk.fun's declining market share, Solayer core developer Chaofan Shou posted on X that the CPMM program upgrade, which took place at midnight on Sunday, was the primary cause of Letsbonk.fun's decline. Immediately after the upgrade, nearly all bots that automatically launched, pumped, and dumped the market were paralyzed. Even today, many of these bots remain operational. With only real users left to compete, the platform's revenue and trading volume have practically dropped to zero, despite the already limited number of real users.
Yi Lihua, founder of Liquid Capital, wrote on the X platform: "August has always been a slow trading season due to the US financial holiday, and cryptocurrencies have historically performed poorly. Coupled with the upcoming speech by Jay Powell and the decline in US stocks, ETH has performed very well, providing the best time and area for bottom fishing. The 25 basis point interest rate cut in September is getting closer. Unless there are major problems in the US stock market, there will be bullish trading opportunities in the future."
Macroeconomic focus: US stock market risks, crypto policy, Trump vs. the Federal Reserve, and stablecoins; industry focus: the next ETF, DeFi bill, cryptocurrency and stock projects, etc.
- 核心观点：市场整体下跌，Meme币炒作与监管风险并存。
- 关键要素：
- 主流币普跌，BTC/ETH跌幅超1%。
- Kanye代币YZY市值骤降，涉嫌内幕操纵。
- 中国法院严惩虚拟货币洗钱犯罪案例。
- 市场影响：短期波动加剧，投资者需谨慎操作。
- 时效性标注：短期影响。
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