Leading AI companies and tech giants, including Andreessen Horowitz (a16z) and OpenAI co-founder Greg Brockman, have announced the formation of the "Leading the Future" political action committee (PAC), which plans to invest $100 million to support state and federal candidates aligned with a pro-AI agenda over the next two years. This year, the fund will focus on primaries and general elections in AI-focused states like California, New York, Illinois, and Ohio, and will expand to the federal level before the 2026 midterm elections. This initiative aims to ensure US leadership in AI and combat policies that could hinder innovation. The fund's operations mirror those of the crypto industry's Fairshake PAC and is being promoted in partnership with political strategist Josh Vlasto.
▌Financial Times: US banks are lobbying to prevent stablecoins from paying interest to customers
According to the Financial Times, US banks are lobbying to prevent stablecoins from paying "yields" or interest to customers due to concerns about deposit flight.
Market
As of press time, according to Coingecko data:
BTC price is $110,200, up or down -2.9% in the past 24 hours;
ETH price is $4,385.79, up or down -8.2% in the past 24 hours;
BNB price is $840.68, up or down -4.0% in the past 24 hours;
-9.1%; the price of DOGE is $0.2099, with a 24-hour increase or decrease of -9.6%; the price of XRP is $2.86, with a 24-hour increase or decrease of -5.5%. The price of TRX is $0.3426, with a 24-hour increase or decrease of -5.3%.
Policy
▌The Philippines proposed to establish a strategic reserve of 10,000 bitcoins, with a lock-up period of 20 years
According to market news released by @cryptounfolded: The Philippines proposed to establish a strategic reserve of 10,000 bitcoins, with a lock-up period of 20 years.
▌Trump: No longer investing any money in Ukraine
US President Trump: (Talking about the Ukrainian conflict) We will no longer invest any money in Ukraine. Hassett: Intel to Receive CHIP Act Funding, Government to Hold Stake. White House National Economic Council Director Hassett: Intel (INTC.O) will receive CHIP Act funding, and the government will hold a stake. (Discussing the US government's Intel stake and other industry investments) This is a unique case, but more transactions in this and other sectors are likely in the future. CHIP Act funds are being spent as planned, and the government may take further equity stakes in companies in the future.
▌The Acting Chair of the U.S. Commodity Futures Trading Commission (CFTC) may join MoonPay after the official chairman is confirmed
Crypto journalist Eleanor Terrett wrote, "There are rumors that after the permanent chairman is confirmed, Acting Chair of the U.S. Commodity Futures Trading Commission (CFTC) Caroline D. Pham will join the cryptocurrency payment platform MoonPay. MoonPay declined to comment. A CFTC spokesperson did not deny the rumor. He told me: 'As she said in May, Acting Chair Pham will return to the private sector after the new chairman is confirmed. In the meantime, she remains committed to faithfully implementing the president's agenda and delivering on his promise to win in the crypto space.'"
▌Musk's XAI sued Apple and OpenAI in a Texas court
▌Trump’s cryptocurrency adviser: “There won’t be another Bitcoin bear market in the next few years.”
According to @Cointelegraph, Trump’s cryptocurrency adviser David Bailey said, “There won’t be another Bitcoin bear market in the next few years.”
▌An ancient whale pledged 269,400 ETH in the past hour
According to the on-chain analyst Ai Yi, a BTC ancient whale that had been dormant for seven years and had a high-profile ETH swap pledged 269,485 ETH to the ETH2 beacon chain in the past hour, worth US$1.25 billion. This staking surpasses the 231,000 ETH held by the Ethereum Foundation, the top four ETH holder. This staking action directly narrows the gap between exits and entrants on the Ethereum PoS network to 260,000 BTC. By comparison, yesterday's gap was 727,000 BTC, accounting for 66.7% of today's entrants. Strategy purchased 3,081 Bitcoins for $356.9 million last week. Strategy acquired 3,081 BTC for approximately $356.9 million last week, at a price of approximately $115,829 per Bitcoin, and has achieved a 25.4% return on BTC so far in 2025. As of August 24, 2025, Strategy holds 632,457 BTC, acquired for approximately $46.5 billion at a price of approximately $73,527 per Bitcoin. The purchases were funded through $309.9 million in MSTR common stock ATM financing, $20.4 million in STRK ATM financing, and $20.4 million in STRF ATM financing. Sequans Announces $200 Million Equity Plan to Accelerate Bitcoin Reserve Strategy Sequans Communications (NYSE: SQNS), a French semiconductor and IoT company, announced the establishment of an "At The Market" (ATM) equity offering program, which allows the company to issue American Depositary Shares (ADSs) representing 10 ordinary shares at any time based on market conditions, for a total of up to $200 million. Sequans stated that the program will serve as the first phase of its Bitcoin reserve strategy, and the funds raised are expected to be used primarily to continue purchasing Bitcoin to support the company's long-term reserve strategy. Bitwise: Bitcoin Price to Reach $2.9 Million by 2035 In its inaugural "Bitcoin Long-Term Capital Market Hypothesis," Bitwise outlined its bullish view: Bitcoin's price will reach $2.9 million by 2035. Bitmine added over 190,000 ETH in the past week, bringing its total holdings to 1.71 million ETH. U.S.-listed Bitmine announced that its cryptocurrency and cash holdings exceeded $8.82 billion. As of 5:30 p.m. ET on August 24, the company's cryptocurrency holdings included 1,713,899 ETH, 192 BTC, and $562 million in unencumbered cash. BitMine disclosed that its cryptocurrency and cash holdings increased by $2.2 billion over the past week, increasing by over 190,500 ETH (approximately $800 million), from 1.52 million ETH to 1.71 million ETH. Fundamental Global Increases Ethereum Holdings to 48,545 Fundamental Global announced that it has increased its Ethereum holdings to 48,545. As previously reported, as of 6:30 PM on August 10, Fundamental Global's ETH holdings reached 47,331, with an average purchase price of $4,228.40. The U.S. Securities and Exchange Commission (SEC) is seeking public comment on Canary's proposed collateralized Injective (INJ) exchange-traded fund (ETF). The SEC is requesting comments within 21 days and will decide on its next steps within 90 days. The U.S. SEC has postponed its decision on the Canary spot Pengu ETF and Grayscale spot Cardano ETF applications. Grayscale has filed its S-1 application for the Avalanche ETF with the U.S. Securities and Exchange Commission (SEC). ETHZilla Announces Authorization of $250 Million Share Repurchase Program. The Board of Directors of ETHZilla Corporation (NASDAQ: ETHZ) has authorized a share repurchase program of up to $250 million, effective immediately. The company also announced that it currently holds 102,237 ETH at an average purchase price of $3,948.72, currently valued at approximately $489 million. In addition to ETH, ETHZilla holds approximately $215 million in U.S. dollar cash equivalents. DeFi Development Corp (DFDV), a US-listed Solana treasury, has announced it has signed a definitive agreement to raise $125 million in equity funding at $12.50 per share. The offering will be a combination of cash and locked Solana, further strengthening DFDV's strategy of maximizing Solana unit sales per share (SPS). Net proceeds will be used to increase spot Solana holdings and lock up discounted Solana, thereby expanding the treasury's asset base. Sharps Technology Completes Over $400 Million in Private Funding to Establish a Solana Vault. Sharp Technology announced the completion of over $400 million in private equity financing, aiming to establish the world's largest Solana (SOL) digital asset vault. Investors include ParaFi, Pantera, Monarq, and others. They have signed a letter of intent with the Solana Foundation to purchase $50 million in SOL at a 15% discount to the 30-day average price. Former Bitmain executives will establish the BNB Treasury with support from YZi Labs. Digital asset investment firm B Strategy announced plans to list the BNB Treasury on Nasdaq, aiming to raise $1 billion. B Strategy's yet-to-be-named BNB Treasury will receive strategic backing from YZi Labs. A representative stated that in addition to financial support, YZi Labs will also provide ecosystem support by connecting the company with ecosystem partners. B Strategy stated that it will leverage its extensive presence in the Asia-Pacific region to access liquidity, market intelligence, and distribution channels, and revealed that several prominent Asian family offices have joined as anchor investors. A YZi Labs representative told the media that the company expects to complete its Nasdaq listing and $1 billion fundraising plan within weeks. Upon its establishment, B Strategy's new company will work with several existing institutions to provide leveraged BNB investment exposure to the market. CZ Clarifies: B Strategy is supported but not led by YZi Labs, and He Yi was not involved. CZ issued a statement clarifying that B Strategy announced the launch of a US-listed $1 billion BNB treasury company, which is supported but not led by YZi Labs. CZ emphasized that The Block's previous report that "B Strategy will receive strategic support from YZi Labs, led by CZ and He Yi," was an over-interpretation, and that He Yi was not involved.
▌Boya Interactive spent approximately HK$257 million this month to purchase a total of approximately 29 bitcoins
According to Zhitong Finance, Boyaa Interactive (00434.HK) announced that between August 5 and August 25, 2025, the group conducted a series of transactions on the open market to purchase a total of approximately 290 bitcoins at a total consideration of approximately HK$257 million (equivalent to approximately US$32.91 million). This time, the company used its own funds to purchase bitcoins.
▌Heritage Distilling completes $223.8 million in private round of financing, now holds over 53.2 million IP tokens
Nasdaq-listed Heritage Distilling Holding Company announced the successful completion of a $223.8 million private round of financing, with participation from Story Foundation, a16z crypto, Amber Group, Arrington Capital, dao5, Hashed, Mirana Ventures, Neoclassic Capital, Open World, Polychain Capital, Selini Capital, Stix, Syncracy Capital and others. The new funds will support its construction of a digital asset financial strategy based on IP tokens. As of now, the company has held more than 53.2 million Story native token IPs. Based on the price of $6.0668 on August 22, its holdings are worth approximately $320 million. Galaxy, Jump, and Multicoin plan to spend $1 billion to acquire Sol. Galaxy, Jump, and Multicoin plan to spend $1 billion to acquire Solana's token, Sol. (Bloomberg) Important Economic Developments Hassett: (Speaking of the Federal Reserve) It's appropriate to consider a rate cut. White House National Economic Council Director Hassett: (Speaking of the Federal Reserve) It's appropriate to consider a rate cut. Federal Reserve Chairman Powell's remarks were insightful. It's expected that it will take several months before Trump makes a decision on the Fed chairmanship.
▌National Economic Council: Powell is unlikely to regain Trump's favor
National Economic Council Chairman Hassett: Powell is unlikely to regain Trump's favor.
▌The probability of a Fed rate cut in September is 82.8%
According to CME's "Fed Watch": The probability of the Fed keeping interest rates unchanged in September is 17.2%, and the probability of a 25 basis point rate cut is 82.8%. The probability of the Fed keeping interest rates unchanged in October is 10%, the probability of a cumulative 25 basis point rate cut is 55.5%, and the probability of a cumulative 50 basis point rate cut is 34.5%.
Golden Encyclopedia
▌What is a Bitcoin flash crash? A Bitcoin flash crash is a sudden, sharp, and brief drop in the BTC market price, after which the price begins to recover. Unique market conditions often cause price fluctuations in the leading cryptocurrency. Flash crashes are typically caused by a large group of sellers (known as whales) who suddenly decide to sell Bitcoin, flooding the market with supply. This overwhelms buyers and can cost the market billions of dollars in a matter of minutes. The frequency of BTC flash crashes in recent years highlights the volatility risks inherent in cryptocurrencies, even for a strong asset like BTC. Despite its multi-trillion dollar market size, the cryptocurrency market is still maturing. Understanding BTC price crashes and their causes is crucial, especially for new investors in the space. Without this knowledge, witnessing such an event can be devastating and lead to emotionally motivated trading decisions rather than insightful and profitable investments. Traditional stock markets have built-in circuit breakers that temporarily halt trading when an asset or index fluctuates beyond a certain threshold. These circuit breakers are absent in the BTC market, making it difficult to manage rapid market declines.
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