Headline
▌Circle to Launch ARC, a Layer 1 Blockchain Focused on Stablecoins
According to Circle's official blog, Circle announced the launch of Arc, an open Layer-1 blockchain designed specifically for stablecoin financial scenarios. Arc uses USDC as its native gas, supports low and predictable USD-denominated fees, and has a built-in institutional-grade foreign exchange engine, enabling 24/7 automatic settlement between stablecoins. Arc uses the high-performance Malachite consensus mechanism, supporting sub-second instant finality and optional privacy protection. The chain is compatible with the EVM and is aimed at applications such as cross-border payments, stablecoin derivatives, on-chain credit, and capital market settlement. It is expected to enter public beta this fall and launch the mainnet in 2026. Remittance giant Western Union Co. is considering launching its own dollar stablecoin as a growing number of cryptocurrency projects compete with its core business of cross-border money transfers. "We are exploring opportunities to issue stablecoins, particularly in markets outside the United States," Chief Executive Officer Devin McGranahan said in an interview on Monday. He added that such a stablecoin could be "almost like a dollar savings account" for customers in other countries where regulators allow such activities.
Market
As of press time, according to Coingecko data:
BTC price is $120,111, up or down 1.2% in 24 hours;
ETH price is $4,602.86, up or down 8.9% in 24 hours;
BNB price is $834.77, up or down 3.7% in 24 hours;
Policy
▌Trump: Powell should cut interest rates immediately! Considering a major lawsuit against him
US President Trump posted on social media: "Mr. Too Late" Powell must cut interest rates now. He always does it too late, and the damage he causes is immeasurable. Fortunately, the economy is in very good shape, and we have defeated Powell and his complacent committee. However, I am considering allowing a major lawsuit against Powell for the abysmal and incompetent job he did managing the construction of the Federal Reserve building. $3 billion was spent on a job that should have cost $50 million to repair. Isn't that great! Guangzhou: Strengthening investment attraction for key digital service institutions like blockchain and artificial intelligence. The Guangzhou Municipal People's Government recently issued the "Implementation Plan for Implementing the Opinions on Financial Support for Guangzhou Nansha to Deepen Global Guangdong-Hong Kong-Macao Comprehensive Cooperation." It mentions supporting the development of digital industries. Efforts will be made to strengthen investment attraction for key digital service institutions like blockchain and artificial intelligence, and cultivate high-quality local digital service institutions. Digital industry enterprises will be encouraged to strengthen cooperation with Nansha financial institutions to expand the integration of financial scenarios. Support will be provided for the establishment of data computing centers, R&D and certification centers, evaluation centers, and regulatory platforms in Nansha to integrate key digital technologies like blockchain and artificial intelligence with financial scenarios. Data exchanges will be encouraged to improve comprehensive data circulation and trading services, collaborate with financial institutions and credit reporting agencies to innovate data finance products, strengthen cooperation with licensed digital asset trading platforms in Hong Kong, study the establishment of a mutually recognized cross-border digital asset rules system between the two places, pilot and promote the implementation of projects, and innovate digital asset trading services.
▌Vietnam will pilot a digital asset exchange in an international financial center
The Vietnamese government announced that it will pilot a digital asset exchange in an international financial center. Three legal measures have laid the foundation for the digital asset field, including the National Assembly's adoption of a resolution to develop financial centers, the Ministry of Finance's submission of a pilot bill for a digital asset exchange, and the new law clarifying the definition of asset categories. The Ministry of Finance is currently refining the relevant pilot policies and is expected to submit them to the government in August, covering issuance, trading, management and other aspects. Service agencies can independently choose listed assets, giving priority to highly liquid varieties. Officials emphasize that blockchain is the core infrastructure and will strengthen network security and risk management. The central bank is studying the model of the national digital currency (CBDC).
Blockchain Applications
▌Block Plans to Provide Bitcoin Banking Services to Small Businesses
According to Cointelegraph, Twitter co-founder Jack Dorsey's payment platform Block plans to provide a full range of Bitcoin banking services to small businesses.
▌Perplexity Offers $34.5 Billion to Acquire Chrome Browser
According to the Wall Street Journal, artificial intelligence company Perplexity has offered Google $34.5 billion to acquire its Chrome browser. Perplexity is currently valued at approximately $18 billion, and the company said several large venture capital funds have agreed to fully support the transaction. Paradigm co-founder Matt Huang appointed as the first CEO of Stripe's blockchain project, Tempo. Payments giant Stripe has appointed Matt Huang, co-founder and managing partner of crypto venture capital firm Paradigm, as the first CEO of Tempo, a new project accelerating its entry into the blockchain space, according to multiple sources familiar with the matter. Huang is also a member of Stripe's board of directors and will continue to serve as managing partner of Paradigm. As previously reported, Stripe and Paradigm collaborated on the development of Tempo, a Layer 1 blockchain.
▌Do Kwon will plead guilty in the $40 billion cryptocurrency collapse case
According to Reuters, a U.S. court judge said at a hearing that Terraform Labs founder Do Kwon will plead guilty to two counts of conspiracy to defraud and wire fraud in the case involving the collapse of cryptocurrencies worth more than $40 billion.
Cryptocurrency
▌Pantera has invested more than $300 million in DAT companies
Pantera Capital disclosed for the first time that it has invested more than $300 million in digital asset treasury (DAT) companies. Its investment portfolio covers eight tokens including Bitcoin, Ethereum, Solana, BNB, Toncoin, Hyperliquid, Sui and Ethena, involving related companies in the United States, Britain and Israel. Pantera believes that DATs may offer higher return potential than directly holding cryptocurrencies or ETFs. Recently, Pantera raised over $100 million in two DAT-focused funds. BitMine Discloses Plans to Issue Up to $20 Billion in Common Stock According to a supplement to BitMine's prospectus, Bitcoin mining company BitMine Immersion Technologies plans to issue up to $20 billion in additional common stock. The company has previously raised approximately $4.499 billion through a sales agreement. BitMine stated that its primary business is Bitcoin mining and that it recently launched an Ethereum financial management strategy. The company plans to raise funds through the issuance of common stock and fixed-income instruments to purchase Bitcoin and Ethereum and expand its mining operations. The company uses immersion cooling technology to operate its data centers and offers Mining as a Service (MaaS) services to customers. Circle Releases Q2 Financial Report: USDC Circulation Exceeds 65 Billion, a Year-on-Year Increase of 90% According to Businesswire, Circle released its second quarter financial report for fiscal year 2025. The report shows that as of the end of the second quarter, USDC circulation increased by 90% year-on-year to US$61.3 billion, and total revenue and reserve income increased by 53% year-on-year to US$658 million. The net loss for the quarter was US$482 million, mainly due to two non-cash expenses related to the initial public offering (IPO). Tron Inc. Q2 Financial Report: Shareholder Equity Exceeds $111 Million, Continues Strategic Investment in Digital Assets Nasdaq-listed Tron Inc. released its financial results for the period ending June 30, 2025, revealing that as of the second quarter of 2025, shareholders' equity exceeded $111 million through cash, cash equivalents, restricted cash, and investments in TRON tokens (TRX). This represents a year-over-year increase of over 3,500% from less than $3.1 million in the same period of 2024. Furthermore, Tron Inc. reported a net profit of $1,467,855 for the three months ended June 30, 2025, compared to a loss of $520,971 in the same period last year. The company is debt-free, save for operating accounts payable. Grayscale launches DeepBook and Walrus Trust Funds. Grayscale launches DeepBook and Walrus Trusts to invest in DEEP and WAL tokens. Coinbase: To Launch Second Stablecoin Bootstrap Fund. Coinbase is about to launch its second stablecoin bootstrap fund, the Bootstrap Fund, to increase stablecoin liquidity in the DeFi capital market. The fund is managed by Coinbase Asset Management (CBAM). Kazakhstan's Fonte Capital Launches Central Asia's First Spot Bitcoin ETF. Kazakhstan's Fonte Capital will officially launch Central Asia's first Bitcoin spot ETF, BETF, on the Astana International Exchange (AIX) on August 13, 2025. The fund is managed by BitGo, a US-regulated custodian, and offers up to $250 million in insurance coverage. Trading is denominated in US dollars. USDC Treasury Mints 500 Million USDC on the Solana Chain. According to @whale_alert, USDC Treasury has minted 500 million USDC on the Solana chain. Coinbase adds WCT to its asset listing roadmap. Coinbase announced the addition of WalletConnect Token (WCT) to its asset listing roadmap. Coinbase announced the addition of WalletConnect Token (WCT) to its asset listing roadmap. Important Economic News U.S. CPI rose 2.7% year-on-year in July, slightly lower than expected. The U.S. CPI rose 0.2% month-on-month in July, in line with expectations of 0.2% and the previous reading of 0.3%. The U.S. CPI rose 2.7% year-on-year in July, in line with expectations of 2.8% and the previous reading of 2.7%. The Trump administration is considering reforming the way it collects and releases employment data. According to the Wall Street Journal, following the abrupt dismissal of the Bureau of Labor Statistics' director this month following weak employment data, White House officials revealed that the Trump administration is considering changes to the way the federal government collects and releases employment data. According to people familiar with the matter, White House staff and Department of Labor officials have held a series of closed-door meetings in recent days to discuss options such as adopting new technologies to improve data collection efficiency. White House aides stated that improving the response rate to BLS questionnaires is one of the reform goals. Officials said Trump has explicitly requested that major data revisions be avoided in the future. White House Press Secretary Levitt said on Tuesday that the president is reviewing the "statistical methods and processes" behind employment data. Reports indicate that any changes to the statistical methodology of the non-farm payroll report, released on the first Friday of each month, could raise concerns that Trump is manipulating the data for political purposes. The president, who routinely questions data that doesn't align with his worldview, has recently been strengthening his control over traditionally independent agencies and purging career bureaucrats deemed disloyal. White House: Trump Considers Suing Powell Over Federal Reserve Building Renovations White House spokesman Levitt said on Tuesday that US President Trump is considering suing Federal Reserve Chairman Powell over his management of renovations at the Fed's Washington headquarters. President Trump earlier mentioned this potential move in a social media post, intensifying his pressure on Powell to cut interest rates. US Treasury Secretary: Trump's Broad Search for Fed Board Members, Including Former Chair Janet Yellen In an interview with Fox Business Network on Tuesday, US Treasury Secretary Bensoner expressed optimism that the Senate will confirm Stephen Milan, current Chairman of the Council of Economic Advisers, to the temporary vacancy on the Federal Reserve Board before the Fed's September meeting. Bensoner revealed that US President Trump is conducting a broad search for candidates to fill the permanent vacancy on the Federal Reserve Board that will occur in January next year and is very open-minded. He revealed that the president even considered nominating former Federal Reserve Chair Janet Yellen. "This isn't an ideological issue; it's about economics—what's best for the American people and what's best for the economy," Bessant emphasized. U.S. Treasury Secretary: The Federal Reserve has fundamental problems, and we hope to find someone who can shake up the Fed. U.S. Treasury Secretary Bessant: We're looking for a wide range of candidates for the Fed Chair position, and Trump is very open. The Federal Reserve has fundamental problems. We hope to find someone who can shake up the Fed. If the data is accurate, the Fed may cut interest rates in June. U.S. National Debt Surpasses $37 Trillion for the First Time On August 12, local time, the U.S. national debt surpassed $37 trillion for the first time, as the federal government continued to accumulate debt at a record pace. The latest data released by the U.S. Treasury Department showed that as of that afternoon, the total U.S. national debt had reached $3,700,481,762,584. Maya McGuinias, chairwoman of the Committee for a Responsible Budget, stated that the U.S. fiscal situation is seriously out of balance, yet Congress has continued to exacerbate it. U.S. Treasury Secretary: The Federal Reserve should consider a 50 basis point rate cut in September. U.S. Treasury Secretary Bensonte: The Federal Reserve should consider a 50 basis point rate cut in September. How did MicroStrategy use BTC to drive its stock price over 1,000-fold? Corporate treasuries are the financial nerve center of a company, tasked with ensuring liquidity, managing risk, and optimizing returns. They are traditionally conservative, relying on fiat currencies, bonds, and other stable investments. However, MicroStrategy's adoption of Bitcoin as its primary treasury reserve breaks this mold. Fund managers aim to strike a delicate balance between risk and return. Their primary objective is to protect the company's assets from market downturns or liquidity crises, while also ensuring the best returns on the company's remaining funds. They should also manage risk for periods of market volatility and stressed conditions. This is the focus of MicroStrategy's inclusion of Bitcoin in its treasury, challenging traditional norms and adopting a high-risk, high-reward strategy. As a result, this bold strategy has transformed not only its balance sheet but also its stock performance, solidifying the company's position as a pioneer in cryptocurrency adoption. MicroStrategy co-founder and executive chairman Michael Saylor sees Bitcoin as an antidote to fiat inflation. He believes the purchasing power of the US dollar is rapidly eroding, while Bitcoin, due to its limited supply, offers an excellent store of value. This strategy transforms MicroStrategy into a hybrid between a software company and a cryptocurrency investment vehicle. MicroStrategy co-founder and executive chairman Michael Saylor sees Bitcoin as an antidote to fiat inflation. He believes the purchasing power of the US dollar is rapidly eroding, while Bitcoin, due to its limited supply, offers an excellent store of value. This strategy transformed MicroStrategy into a hybrid of a software company and a cryptocurrency investment vehicle. MicroStrategy utilized financing strategies such as equity issuance, debt financing, free cash flow, and Bitcoin-backed loans to fuel its Bitcoin purchases. Its strategy needed to comply with mainstream financial services regulations while ensuring it could handle volatile assets like Bitcoin. MicroStrategy's bold Bitcoin acquisition strategy, utilizing convertible notes and dollar-cost averaging, transformed it from a struggling software company into a Bitcoin proxy, driving its stock price up more than 1,000-fold and redefining its market image.
JinseFinance
