SEC releases crypto rule revision agenda; Nasdaq scrutinizes crypto treasury firms

Headlines

▌US SEC Releases Agenda for Revision of Cryptocurrency Rules and Relaxation of Wall Street Rules

According to market news, the U.S. Securities and Exchange Commission (SEC) has released an agenda for revision of cryptocurrency rules and relaxation of Wall Street rules. The new regulatory agenda, announced this week, proposes new rules for the issuance and trading of cryptocurrencies, including exemptions and safe harbors, and considers allowing crypto assets to be listed on national securities exchanges and alternative trading systems. The SEC also plans to simplify disclosure requirements to reduce the compliance burden on Wall Street.

▌Sources: Nasdaq to Strengthen Scrutiny of Companies Holding Cryptocurrencies

According to sources familiar with the matter, Nasdaq is strengthening its scrutiny of companies listed on its exchange that attempt to raise funds to purchase and hoard cryptocurrencies to inflate their stock prices. The exchange’s move could slow a cryptocurrency boom that is pushing a growing number of exotic tokens into the mainstream. Nasdaq, where the vast majority of cryptocurrency stocks trade, currently requires some companies to obtain shareholder approval before issuing new shares to buy stock.

Market

As of press time, according to CoinGecko data:

BTC price is $111,031, up or down -0.7% in the past 24 hours;

ETH price is $4,327.89, up or down -3.0% in the past 24 hours;

BNB price is $847.34, up or down -0.9% in the past 24 hours;

-3.2%;

DOGE price is $0.2135, with a 24-hour increase or decrease of -3.3%;

XRP price is $2.81, with a 24-hour increase or decrease of -1.4%;

TRX price is $0.3354, with a 24-hour increase or decrease of - According to Bitcoin Magazine on social media, U.S. SEC Chairman Paul Atkins stated that providing a clear regulatory framework for the custody and trading of Bitcoin and crypto assets is a "key priority" for the SEC. This statement shows that US regulators are accelerating the development of crypto market rules to enhance investor protection and market transparency. US Media: US Department of Justice Launches Criminal Investigation into Federal Reserve Governor Tim Cook US officials familiar with the matter revealed that the US Department of Justice has launched a criminal investigation into Federal Reserve Governor Tim Cook and issued a subpoena to determine whether she submitted false information on her mortgage application. The initial investigation focuses on Cook's property in Ann Arbor, Michigan. Officials said investigators are using a grand jury to advance the probe. The investigation follows two criminal complaints filed with the Justice Department by Federal Housing Finance Agency Director Pulte. Cook's attorney, Abbe Lowell, did not respond to requests for comment, and the Justice Department declined to comment. The scrutiny of Cook is the latest in the Justice Department's investigation into alleged mortgage fraud by Trump opponents. Previously, the Justice Department has filed similar allegations and launched investigations into New York Attorney General Letitia James and California Democratic Senator Adam Schiff. Federal Reserve Board nominee Milan: The President Has the Right to Express His Opinion on Monetary Policy. Federal Reserve Board nominee Milan stated that the President has the right to express his opinion on monetary policy. However, he also stated that he does not recommend handing control of the Federal Reserve to the President. Blockchain Applications: Stuttgart Stock Exchange Launches Pan-European Tokenized Asset Platform. Stuttgart Stock Exchange Group, Europe's sixth-largest exchange operator, has launched Seturion, a blockchain-based settlement platform. Seturion can handle cross-border tokenized asset transactions across Europe, supporting both public and private blockchains, and can be settled using central bank currency or on-chain cash. It is aimed at banks, brokers, and other institutions. The platform has completed testing in collaboration with the European Central Bank, and BX Digital, the Swiss-compliant DLT trading platform under the Stuttgart Stock Exchange, has already been launched. Currently, many European institutions are accelerating their tokenization efforts, and related developments are also occurring in the United States, such as BlackRock's launch of a tokenized money market fund. Tokenization has become a global trend. U.S. Commodity Futures Trading Commission Commissioner Resigns and Issues Warning on Prediction Markets According to DecryptMedia, U.S. Commodity Futures Trading Commission (CFTC) Commissioner Kristin Johnson has resigned and issued a warning about prediction markets, stating that while prediction markets are attracting unprecedented amounts of retail capital, "regulatory safeguards are too few." Her farewell speech coincided with the CFTC's approval of Polymarket's return to the U.S. market through its $112 million acquisition of QCX. Johnson criticized companies that, after obtaining regulatory approval, quickly pivoted to prediction market contracts by "renting or purchasing" licenses.

▌American Bitcoin Expands Bitcoin Mining to 24EH/s, a 2.4-fold Increase

According to market news, American Bitcoin, a Bitcoin mining company backed by the Trump family, has expanded its Bitcoin mining operations from 10EH/s to 24EH/s, a 2.4-fold increase.

▌Lead Bank Raises $70 Million at a $1.47 Billion Valuation

Lead Bank, a 97-year-old Missouri bank, is restructuring to serve fintech and cryptocurrency companies. The company has raised $70 million in funding, with a valuation of $1.47 billion, nearly double last year's, in an effort to expand its balance sheet and customer base. The bank said that two of Silicon Valley's most prominent investors, Andreessen Horowitz and Khosla Ventures, participated in the round, along with other existing investors including Ribbit Capital, Coatue, and Zeev Ventures. Newcomers Iconiq Capital and Greycroft also participated in the round. Sources familiar with the matter: DeepSeek aims to release new AI agent by year-end According to people familiar with the matter, DeepSeek is developing an AI model with more advanced AI agent capabilities to compete with rivals such as OpenAI in the new frontier of AI technology. The company is building an AI model designed to perform multi-step operations with minimal user instructions, the people said. The system is also designed to learn and improve based on previous actions, the people added. The DeepSeek founder is pushing his team to launch the new software in the last quarter of this year, the people said.

▌New York Fed Survey: Artificial intelligence has little impact on employment

The New York Fed survey shows that the popularity of artificial intelligence among the companies surveyed is increasing, but its impact on employment has been minimal so far. In the past year, 40% of service companies and 26% of manufacturing companies have used AI, up from 25% and 16% previously. Most companies reported that they chose to retrain employees rather than lay off employees. Looking ahead, nearly half of service companies and one-third of manufacturers plan to adopt AI soon. However, the New York Fed warned that future consolidation may lead to more layoffs and reduced hiring, especially in high-paying positions.

▌Crypto oracle company RedStone acquires DeFi credit specialist Credora

According to market news released by unfolded., crypto oracle company RedStone has acquired decentralized finance (DeFi) credit specialist Credora.

Cryptocurrency

▌State Street Bank discloses $1.8 billion worth of Bitcoin exposure

According to market news released by The Bitcoin Historian, State Street, which manages $4.3 trillion in assets, has just disclosed that it holds $1.8 billion worth of Bitcoin (BITCOIN) exposure through MicroStrategy (MSTR). Bloomberg: Strategy May Become the First Bitcoin-Centric Company in the S&P 500. With approximately $70 billion in Bitcoin holdings and $14 billion in quarterly unrealized profits, Strategy Inc. (formerly MicroStrategy) meets the S&P 500's liquidity and market capitalization criteria. If included, approximately 500,000 shares would be purchased by passive funds, representing a market capitalization of approximately $16 billion. The S&P 500 committee will still need to consider volatility and sector balance. Strategy has already been included in the Nasdaq 100, and inclusion in the S&P 500 could bring greater institutional recognition. According to market news released by The Bitcoin Historian, the number of Bitcoins held by publicly traded companies worldwide has officially exceeded 1 million. BlackRock deposited 33,884 ETH with Coinbase Prime, worth $148.6 million. According to the on-chain analysis platform Lookonchain, BlackRock deposited 33,884 ETH with Coinbase Prime, worth approximately $148.6 million.

▌Ripple's RLUSD scale now exceeds $700 million

According to a chart released by CoinBureau, Ripple's RLUSD scale has now exceeded $700 million. According to tracking data from RWA.com, RLUSD's market capitalization is currently close to $800 million, an increase of 18% in the past 30 days.

▌WLFI blacklists Justin Sun's address

World Liberty blacklisted Justin Sun's address, locking up 540 million unlocked tokens and 2.4 billion locked tokens, and stated that they believe a certain exchange has been using user tokens for dumping, thereby suppressing prices.

▌Justin Sun responds to the blacklisted address: the address involved was only for small-scale testing, and was not involved in any buying and selling

Justin Sun responded on the social platform to the incident that "World Liberty blacklisted Justin Sun's address, locking 540 million unlocked tokens and 2.4 billion locked tokens" and said, "Our address was just a general test of a few exchange recharges with a very low amount, and then an address was dispersed. It did not involve any buying and selling and could not have any impact on the market."

▌Analyst: REX-Osprey plans to launch Dogecoin ETF next week

According to analysts, REX Shares and Osprey Funds plan to launch the first ETF (code DOJE) that directly tracks the performance of Dogecoin next week and has submitted a prospectus to the U.S. SEC. This ETF will follow the example of the Solana collateralized ETF launched in June of this year, utilizing a legal workaround under the Investment Company Act of 1940 to circumvent asset restrictions by investing through a Cayman Islands subsidiary. The prospectus also mentions plans to launch ETFs related to XRP, BONK, and other assets. The SEC has become more open to the crypto industry this year, with over 90 crypto ETFs currently awaiting review. Grayscale and others are also vying for a Dogecoin ETF. Tether and Circle have minted $12 billion in stablecoins in the past month, according to Lookonchain monitoring.

▌Mega Matrix Submits $2 Billion Registration Statement to Accelerate Stablecoin Governance Token Reserve Strategy

Mega Matrix Inc. announced the submission of a $2 billion general shelf registration statement on Form F-3 to accelerate its stablecoin governance token treasury reserve ("DAT") strategy.

▌Blink Charging to Support Bitcoin and Cryptocurrency Payments at Electric Vehicle Charging Stations

According to market news released by Bitcoin Archive, Blink Charging will support Bitcoin and cryptocurrency payments at electric vehicle charging stations. Important Economic Developments: Federal Reserve Board nominee Milan: Will exercise independent judgment if appointed to the Fed. Federal Reserve Board nominee Milan stated that the Fed's independence is crucial to maintaining economic stability. The President nominated me based on his recognition of my policy stance, but if appointed, I will exercise independent judgment. No one has asked me to commit to voting for a rate cut. Regarding current economic governance, Milan criticized the Bureau of Labor Statistics for being overly complacent amid signs of declining data quality. He noted that the inclusion of climate change on the Fed's monetary policy agenda reflects the worrying politicization of some supposedly apolitical functions. If confirmed, he stated that he would oppose any Fed action that exceeds its statutory mandate. Regarding future plans, he stated that it is currently impossible to foresee what his role at the Fed will hold. If nominated for a longer-term Fed term, he will resign from the White House Council of Economic Advisers.

▌Federal Reserve Bank Williams: It is appropriate to cut interest rates at the right time

New York Fed President Williams said he predicted that interest rate cuts would "be appropriate over time", but did not specify the timing or pace of such actions. "Looking ahead, if our dual mandate goals continue to make progress in line with my baseline forecast, I expect it will be appropriate to shift interest rates to a more neutral stance over time," Williams said Thursday in a speech prepared for an event at the Economic Club of New York. Williams said the Fed is facing a "delicate balance" in terms of employment and inflation risks. "On the one hand, we need to keep the labor market balanced to ensure that the impact of tariffs does not spill over into a more persistent rise in broad-based inflation. On the other hand, maintaining a stance of 'too tight policy for too long' could pose risks to our maximum employment mission," he said. He also said that so far, the impact of tariffs on inflation has not been as severe as initially feared, but added that "it is too early and the impact of tariffs will take time to fully manifest."

▌Federal Reserve official Hammack reiterated that there is no reason to cut interest rates this month

Cleveland Federal Reserve Bank President Hammack reiterated that she sees no reason to cut interest rates this month, with current data showing that inflation remains above the Fed's 2% target and continues to rise. Hammack said business leaders are feeling price pressure from suppliers. "Some of this pressure is related to tariffs and some is not," she said. Hammack also said that if there is a threat to the Fed's independence, then low inflation will also be threatened. Bank of America: The Fed's September meeting may see serious internal divisions. Bank of America expects serious internal divisions in the Federal Reserve's interest rate decision in September. Dovish members Waller, Bowman, Daly, and Milan, whose nomination to the board is expected to be confirmed, may push for further rate cuts, while hawkish members such as Hammack, Bostic, Musallim, and Schmid emphasize inflation risks. Even if the interest rate is cut by 25 basis points at the September meeting, there may still be dissenting votes in both directions within the committee. The European Central Bank is ready to deal with the next sovereign debt crisis in Europe. According to market news released by ZeroHedge, a well-known financial news and analysis website, the European Central Bank is ready to deal with the next sovereign debt crisis in Europe. According to CME's "Federal Reserve Watch," there's a 0.6% chance the Fed will keep interest rates unchanged in September and a 99.4% chance a 25 basis point cut. The probability of the Fed keeping interest rates unchanged in October is 0.3%, with a cumulative probability of a 25 basis point cut at 44.5% and a cumulative probability of a 50 basis point cut at 55.3%. Golden Encyclopedia: What is a rug pull in cryptocurrency? How can you identify it? A "rug pull" occurs when a team or developer withdraws support for a project, rendering the tokens in investors' hands worthless. Crypto scams are prevalent in decentralized finance (DeFi). Cryptocurrency scams are common in the absence of regulations governing project operations. Individuals or groups of developers create excitement around a crypto project to attract traders. As excitement builds, many invest by purchasing tokens or minting non-fungible tokens (NFTs). Then, the developers suddenly dump their holdings and disappear, shocking investors and leaving them empty-handed. The project's abrupt end causes its token price to plummet, and investors lose most of their funds. However, understanding blockchain scams can help you identify red flags early on. Knowing the signs of a cryptocurrency scam can help you spot a potential scam before it's too late. From examining the project team to analyzing token economics and community engagement, here are the key steps to spot red flags and make informed investment decisions: 1. Unknown or unconfirmed developers; 2. Lack of locked liquidity; 3. Sell order restrictions; 4. Limited number of token holders and volatile price fluctuations; 5. Suspiciously high returns; and 6. No external audits. Imagine a crowded market with stallholders selling a variety of goods. A "carpet scam" is like an impressive stall set up, promising valuable items to attract buyers. The stallholder pre-books these items at a high price. Just when the market is bustling, the stallholder suddenly disappears, leaving behind an empty stall and worthless reservation receipts. In the context of cryptocurrency, stallholders can commit this fraud in a variety of ways. One way is for fraudulent developers to introduce hidden vulnerabilities in smart contracts to control native tokens or steal cryptocurrencies from investors. Second, developers can use a technique called dumping. Third, scammers may implement a "carpet scam" by restricting sell orders.