The U.S. Department of Commerce will publish data on the blockchain; the Federal Reserve responds to Cook's dismissal.

Headlines

▌U.S. Commerce Secretary: Department of Commerce to Begin Publishing Statistics on Blockchain

U.S. Commerce Secretary Lutnick: Department of Commerce to Begin Publishing Statistics on Blockchain. We are finalizing the specific details for using blockchain for GDP statistics.

▌Federal Reserve Responds for the First Time to Trump's Dismissal of Governor Cook: Will Respect Judicial Decision

According to CCTV News, a Federal Reserve spokesperson issued a statement on the 26th local time regarding President Trump's dismissal of Federal Reserve Governor Lisa Cook. The statement stated that Congress, through the Federal Reserve Act, stipulates that governors serve fixed terms and can only be removed by the President for "good cause." The long-term tenure of governors and their protection from removal are important safeguards, ensuring that monetary policy decisions are based on data, economic analysis, and the long-term interests of the American people. The Federal Reserve will continue to fulfill its legally mandated responsibilities. The statement said that Cook, through his lawyers, had indicated that he would seek a judicial ruling. The Federal Reserve would, as always, comply with any court ruling. Shortly thereafter, Trump responded that he would also comply with the court's ruling.

Market

As of press time, according to Coingecko data:

BTC price is $111,861, up or down 24 hours by 1.5%;

ETH price is $4,603.05, up or down 24 hours by 4.9%;

BNB price is $864.64, up or down 24 hours by 3.0%;

Policy

▌The U.S. CFTC will soon be headed by Acting Chair Caroline Pham alone.

Kristin Johnson, a Democratic commissioner on the U.S. Commodity Futures Trading Commission (CFTC), will step down on September 3rd, reducing the CFTC's five-commissioner roster to just Acting Chair Caroline Pham. Trump's nominee, Brian Quintenz, is still awaiting Senate confirmation, and his appointment date is undetermined. If Quintenz officially succeeds Pham as chair, Pham plans to resign and return to the private sector. The CFTC is one of the primary regulators of cryptocurrencies in the United States. The fact that only one member of the commission remains could expose its policies to legal challenges and increase uncertainty regarding industry regulation. US Crypto Policy Advancement May Be Affected by Senator Warner's Resistance US Senator Mark Warner (D-Virginia) may be a major obstacle to the crypto industry's efforts to promote legal protections for software developers. Concerned about hacking and money laundering in the decentralized finance (DeFi) sector, Warner opposes the legal immunity provisions for developers in the Digital Asset Market Clarity Act. Although Warner previously supported stablecoin regulation and is considered a pro-crypto Democratic senator, his stance on the Senate Banking Committee could impact the advancement of market structure legislation. The crypto industry is closely watching Warner's stance in the latest legislative negotiations to establish legal protections for developers. Global Regulators Urge the US SEC to Strengthen Regulation of Tokenized Stocks According to CryptOpus, global regulators are urging the US Securities and Exchange Commission (SEC) to strengthen its oversight of tokenized stocks.

▌Trump threatens to impose high tariffs on countries that implement digital taxes

US President Trump recently posted on social media: "I warn all countries that implement digital taxes, legislation, rules or regulations that unless these discriminatory measures are lifted, I, as President of the United States, will impose significant additional tariffs on these countries' exports to the United States and impose export restrictions on our highly protected technologies and chips. Please respect the United States and our outstanding technology companies, otherwise, please bear the consequences!"

▌State Council: Strengthen the coordination of intelligent computing power, support the breakthrough innovation of artificial intelligence chips and the cultivation of enabling software ecosystem

The State Council issued an opinion on the in-depth implementation of the "Artificial Intelligence +" action. The opinion proposes to strengthen the coordination of intelligent computing power, support the breakthrough innovation of artificial intelligence chips and the cultivation of enabling software ecosystem, and accelerate the technological breakthrough and project implementation of ultra-large-scale intelligent computing clusters. Optimize the layout of national intelligent computing resources, improve the nationwide integrated computing network, give full play to the role of the "Eastern Data and Western Computing" national hub, and strengthen the coordination of data, computing, electricity, and network resources. Strengthen the interconnection and matching of intelligent computing power and supply and demand, innovate the operation model of intelligent computing power infrastructure, encourage the development of standardized and scalable computing power cloud services, and promote the universal, easy-to-use, cost-effective, green, and secure supply of intelligent computing power.

Blockchain Applications

▌MetaMask Launches Social Login, Supports Wallet Creation and Restoration Using Google or Apple Accounts

MetaMask announced the launch of social login to simplify the process of creating and managing MetaMask wallets. Users can create, back up, and restore wallets using their Google or Apple accounts. No single entity, not even MetaMask, can access all the information required to retrieve a user's key recovery phrase (SRP), thereby maintaining the self-custody nature of its wallets. Only when a user's social credentials are combined with their unique password can SRP be ultimately unlocked on the local device. Gemini surpasses Coinbase in US iOS App Store downloads after launching its XRP Mastercard. According to Cointelegraph, Gemini has surpassed Coinbase in US iOS App Store downloads following the launch of its XRP Mastercard. Gemini currently ranks 16th, while Coinbase is 20th. Donald Trump Jr.'s venture capital fund has invested tens of millions of dollars in Polymarket. According to AXIOS, the prediction market Polymarket has received investment from Donald Trump Jr.'s venture capital fund. 1789 Capital, the venture capital firm Donald Trump Jr. joined last year, has invested tens of millions of dollars in Polymarket. Recently, Polymarket was valued at over $1 billion by Founders Fund. Donald Trump Jr. will also join Polymarket's advisory board. CoinList announced the launch of CoinList Alpha, a private portal for accredited investors, offering investment opportunities from seed rounds to private placements in crypto treasury companies. The first transaction was the $STSS PIPE (Sharps Technology DAT). CoinList Alpha breaks the traditional barrier of being open only to venture capital and institutions, enabling more accredited investors to participate in startup investments at all stages while also providing access to a broader pool of angel investors. YZi Labs announced an investment in USD.AI. According to official news, YZi Labs announced a strategic investment in USD.AI, an AI infrastructure finance protocol. USD.AI is a protocol that provides hardware-backed financing and currently has over $62 million in total value locked (TVL). Trump Media & Technology Group Plans to Acquire CRO Digital for $6.42 Billion Yorkville Acquisition Corp. (Nasdaq: YORK), Trump Media & Technology Group (Nasdaq, NYSE Texas: DJT), and Crypto.com announced they have entered into a definitive agreement to form Trump Media Group CRO Strategy, Inc., a digital asset reserve company focused on acquiring CRO, the native token of the Cronos ecosystem. Yorkville Acquisition Corp. is a special purpose acquisition company (SPAC) sponsored by Yorkville Acquisition Sponsor LLC ("Yorkville"). Upon completion of the business combination, Trump Media Group CRO Strategy will be majority-owned by Yorkville, Trump Media, and Crypto.com as founding partners. The digital asset reserve company is expected to be funded by $1 billion in CRO (6,313,000,212 CRO, representing approximately 19% of the total CRO market capitalization at the time of this announcement), $200 million in cash, $220 million in cash from mandatory exercise warrants, and a $5 billion equity credit line provided by Yorkville affiliate YA II PN, Ltd., for a total of $6.42 billion. This will make it the first and largest publicly traded CRO reserve company. To demonstrate their long-term commitment to the Trump Media Group CRO strategy, Yorkville, Trump Media, and Crypto.com have agreed to a mandatory initial one-year lockup period for their founding shares upon completion of the business combination, followed by a three-year phased release schedule.

▌Trump Media & Technology Group to Integrate Crypto.com Wallet and Introduce CRO Token

According to market news, Trump Media & Technology Group will integrate Crypto.com digital wallet and will integrate CRO token on Truth Social and Truth+ platforms.

▌BlackRock Ethereum Spot ETF Purchased 65,900 Ethereum on August 25

According to @Cointelegraph, BlackRock Ethereum Spot ETF purchased 65,900 Ethereum (ETH) on August 25, worth $314.9 million.

▌Goldman Sachs currently holds $470 million in Bitcoin

According to market news released by @pete_rizzo_, Goldman Sachs, which manages $3 trillion in assets, purchased $194 million worth of Bitcoin (BITCOIN). The group's current Bitcoin holdings are worth $470 million.

▌Bitwise submits Chainlink ETF application to the U.S. SEC

Cryptocurrency asset management company Bitwise has submitted an application (Form S-1) for a Chainlink ETF to the U.S. Securities and Exchange Commission (SEC). SharpLink increased its holdings by 56,533 Ethereum (ETH), bringing its total holdings to 797,704. According to an official announcement, SharpLink acquired 56,533 ETH at a price of approximately $4,462. As of August 26, 2025, SharpLink held 797,704 ETH, valued at approximately $3.7 billion. KindlyMD announced a $5 billion equity offering to advance its Bitcoin Treasury strategy. KindlyMD announced the launch of a $5 billion "At-The-Market" (ATM) equity offering. The company stated that the proceeds will be used to advance its Bitcoin Treasury strategy, for working capital, acquisitions of businesses, assets, and technologies, capital expenditures, and other investments. CryptoQuant data shows that Binance's stablecoins saw a single-day inflow of $1.65 billion, while Ethereum withdrawals approached $1 billion. This is the second time this month that stablecoin net inflows have exceeded $1.5 billion, indicating that the spot market is welcoming a new round of capital inflows. Canary has submitted its S-1 application for a Trump ETF to the US SEC. According to market news, Canary has submitted its S-1 application for a Trump ETF to the US SEC. Monex is considering issuing a yen-pegged stablecoin in Japan. According to TV Tokyo, Monex Securities is considering issuing a yen-pegged stablecoin in Japan. Monex Chairman Matsumoto stated that the company is considering acquiring a European crypto company and expects to announce the news "within a few days." BIT Mining Launches USD Stablecoin DOLAI on Solana. Cryptocurrency infrastructure company BIT Mining Limited (NYSE: BTCM) today announced the launch of DOLAI, a USD-backed stablecoin designed to connect AI agents, merchants, consumers, and institutional financial institutions on the Solana chain, with plans to expand to broader multi-chain interoperability. DOLAI was launched in partnership with Brale Inc. ("Brale").

▌CEA Industries: BNB Reserve Holdings Have Increased to Over 350,000

Nasdaq-listed CEA Industries announced that its BNB reserves have increased by over 150,000, bringing its total holdings to over 350,000 to date.

▌Arbitrum Multi-Sig Wallet Deposit 13.105 Million ARB to Coinbase Prime

According to on-chain analyst Ember, an Arbitrum multi-sig wallet deposited 13.105 million ARB ($6.91 million) to Coinbase Prime. This wallet received 250 million ARB from the Arbitrum DAO Treasury wallet 10 months ago and began transferring ARB to Coinbase Prime three months ago. A total of 38.434 million ARB (US$16.68 million) has been transferred out, with an average price of US$0.43. The Wisconsin Investment Commission (US$41 billion in assets under management) has just increased its holdings of Strategy $MSTR by US$2 million. It currently holds 132,202 shares, valued at over US$45.4 million. Important Economic Developments: Trump says he may visit China as soon as this year; the Ministry of Foreign Affairs responds. Foreign Ministry Spokesperson Guo Jiakun presided over a regular press conference. In response to Trump's statement that he might visit China as soon as possible this year, Guo Jiakun stated that China has consistently handled and advanced Sino-US relations in accordance with the principles of mutual respect, peaceful coexistence, cooperation, and win-win results, while firmly safeguarding its sovereignty, security, and development interests. "We hope the US will meet us halfway and promote the stable, healthy, and sustainable development of Sino-US relations." Guo Jiakun noted that state-to-state diplomacy plays an irreplaceable strategic guiding role in Sino-US relations, and the two heads of state maintain close exchanges and communication. (The Paper) Federal Reserve Chairman Barkin: If the economy runs moderately, interest rates are expected to adjust moderately. Federal Reserve Chairman Barkin said that given his expectation of minimal changes in economic activity for the rest of the year, interest rates will adjust moderately. "I see the economy running moderately. If the economy runs moderately, that means interest rates will also adjust moderately," he said. "I'm not sure if the economy will actually develop that moderately. We'll have to wait and see. So this is my prediction, but it's subject to change." Barkin declined to specify what action he would favor in September. "I know there are three and a half weeks until the next meeting, and I will make the best judgment I can on that day based on all the information."

▌Trump: A candidate has been nominated to replace Federal Reserve Governor Cook

U.S. President Trump said he already has a candidate to replace Federal Reserve Governor Lisa Cook, whom he is trying to remove. "I think we've narrowed it down to some very good candidates. In fact, I may have one candidate in mind. We're actually in contact with a lot of people who will be involved in this decision," Trump said at a cabinet meeting. ▌Cook remains a member of the Federal Reserve Board and can still participate in interest rate meetings before a ruling is made. "Cook has indicated through her private attorney that she will immediately challenge the action in court and seek a judicial ruling to confirm her right to continue serving as a Senate-confirmed member of the Federal Reserve Board," a Fed spokesman said. "The Federal Reserve will, as always, comply with the court's decisions." The Fed's statement indicates that from the central bank's perspective, Cook's status as a board member has not changed, and she can still participate in meetings unless the court makes a ruling before the next meeting. The Fed's next interest rate decision meeting is scheduled for September 16-17, and Trump has been pressuring the Fed to cut interest rates significantly.

▌Trump: (Speaking about the Fed's statement on Cook) I will abide by the court's decision.

U.S. President Trump: (Speaking about Federal Reserve Board Governor Cook) We are prepared for the legal battle. Cook appears to have violated regulations. We need someone with 100% integrity.

▌White House Economic Council Director: Trump's firing of Cook could lead to higher U.S. inflation and long-term interest rates.

▌White House Economic Council Director Lael Brainard said that Trump's firing of Federal Reserve Board Governor Tim Cook could lead to higher U.S. inflation and long-term interest rates. The latest drama between Trump and the Federal Reserve has reignited market concerns. Swissquote analyst Ipek Ozkardeskaya said Trump's dismissal of Federal Reserve Governor Lisa Cook has kept markets on edge and prevented a dollar rebound, as expectations are that Cook will be replaced by a staunch supporter of rate cuts. Cook has previously been outspoken about the impact of tariffs on inflation, saying they could push up prices and force policymakers to keep interest rates higher for longer, complicating the Fed's work. Cook's dismissal has reignited concerns about the Fed's independence, undermining market confidence in the United States. The steepening of the U.S. Treasury yield curve reflects the belief that short-term rate cuts will lead to higher long-term inflation. 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.