Headline
▌Japan Post Bank plans to launch digital currency in 2026
According to the Nikkei Shimbun, Japan Post Bank, one of Japan's largest financial institutions, plans to launch a digital currency in 2026 and may allow users to use the digital currency to trade blockchain-based financial products such as security tokens and NFTs.
▌U.S. M2 money supply reaches $22.12 trillion, a record high
According to a chart released by Cointelegraph, the U.S. M2 money supply has reached $22.12 trillion, a record high.
Market
As of press time, according to Coingecko data:
BTC price is $108,338, up or down -0.4% in the past 24 hours;
ETH price is $4,396.55, up or down +0.5% in the past 24 hours;
BNB price is $859.11, up or down -0.6% in the past 24 hours;
-0.4%; the price of DOGE is $0.2142, with a 24-hour increase or decrease of -0.8%; the price of XRP is $2.78, with a 24-hour increase or decrease of -1.2%. The price of TRX is $0.3411, with a 24-hour increase or decrease of +0.6%.
Policy
▌The Trump administration plans to cut another $4.9 billion in foreign aid
According to a chart released by ZeroHedge, a well-known financial news and analysis website, the Trump administration plans to cut another $4.9 billion in foreign aid.
▌Trump wants to send troops to Chicago, but mayor refuses to cooperate
The mayor of Chicago, the third-largest city in the United States, signed an executive order on August 30th, expressing "refusal to cooperate" with the Trump administration's plan to deploy a large number of federal law enforcement officers and National Guard troops to the city. Chicago Mayor Brandon Johnson, a Democrat, said the executive order indicates that the Chicago Police Department will not cooperate with federal National Guard and other law enforcement personnel in the city, including patrols, traffic stops, and checkpoints. He also instructed the city's police to wear official uniforms and no face coverings to distinguish them from federal forces and avoid public misidentification.
Blockchain Applications
▌APE Token to Expand to the Solana Chain and Integrate DeFi
According to Golden Finance, ApeCoin officially announced the launch of the R.A.I.D (Rapid ApeCoin Integration Deployment) strategy, aiming to transform ApeCoin from a governance token into a "cultural token" and promote the development of its ecosystem. APE plans to initially expand to the Solana chain and integrate DeFi. Bitwise: Gold and Bitcoin Should Play Different Hedging Roles. André Dragosch, Head of European Research at Bitwise Asset Management, stated that investors don't need to choose between gold and Bitcoin; rather, they each play different hedging roles within their portfolios. He noted that gold is more suitable as a hedge against falling stock markets, while Bitcoin demonstrates greater resilience during periods of bond market pressure. Data supports this view: Since 2025, gold has risen by over 30% amidst heightened stock market volatility, while Bitcoin has maintained a 16.46% gain despite pressure in the bond market. Dragosch suggests that, given the different risk-hedging properties of the two assets, a wise investment strategy is to hold both rather than abandoning either entirely.
▌Michael Saylor Releases Bitcoin Tracker Information Again
Michael Saylor has released Bitcoin Tracker information again on Platform X. Based on previous experience, Strategy firms typically disclose Bitcoin holdings data the day after he releases his Bitcoin Tracker information.
▌Virgin Voyages Now Accepts Bitcoin Payments
According to market news released by The Bitcoin Historian, luxury cruise company Virgin Voyages now accepts Bitcoin (BITCOIN) payments, demonstrating strong demand for Bitcoin among high-net-worth individuals. According to data from Token Terminal, the supply of stablecoins on the Ethereum network has exceeded $160 billion, reaching a new all-time high. This represents more than double the stablecoin supply in January 2024. Bitcoin OG sold 4,000 BTC and bought 96,859 ETH in 12 hours. According to Lookonchain monitoring, a BTC whale who has been actively swapping ETH has sold 4,000 BTC ($435 million) and bought 96,859 ETH ($433 million) in the past 12 hours. He purchased a total of 837,429 ETH ($3.85 billion). Canary Capital CEO: XRP's recognition on Wall Street is second only to Bitcoin, and demand could surge after the ETF launch. Steven McClurg, CEO of digital asset management firm Canary Capital, recently discussed XRP's market position in the cryptocurrency sector. He stated that XRP's recognition among Wall Street professionals is second only to Bitcoin, and that market demand could surge if an XRP ETF is approved by the U.S. Securities and Exchange Commission. Canary Capital reportedly submitted a registration application for a spot XRP exchange-traded fund (ETF) last October, but has yet to receive regulatory approval. California Governor Plans to Launch Trump Corruption Coin to Criticize Trump's Controversial Behavior in Crypto California Governor Gavin Newsom recently revealed plans to launch a cryptocurrency called "Trump Corruption Coin" in direct response to Donald Trump's controversial behavior in the crypto space, particularly meme coins. Gavin Newsom stated on the "Pivot" podcast that the meme coin, named after an alleged scandal involving Trump, is part of his larger "Campaign for Democracy" initiative, raising funds for redistricting and voter outreach. "We're about to launch a meme coin," Newsom said in the interview. "Trump, let's see which is more popular, your coin or ours." When asked if it would be called "Gavin Coin," he replied, "No, it's called Trump Corruption Coin." He added, "We're just trying to raise awareness and make people aware of the absurdity of this." Newsom called Trump "one of the biggest liars of our time" and said, "None of this is normal." Ethereum gas fees briefly hit 0.397 Gwei, according to Etherscan data.
Important Economic Developments
▌The possible composition of the Federal Reserve Board in September: Trump could hold a 4-3 majority, or a tie.
In addition to Cook, who is currently in legal battle with Trump, the full seven-member Federal Reserve Board includes Powell and two Biden administration appointees (Jefferson and Barr), who, like Cook, align with Powell. In addition, there are two governors appointed by Trump during his first term (Waller and Bowman), both of whom voted for the rate cut in July. Trump has nominated his advisor Stephen Milan to fill the vacancy left by Kugler's resignation. The Senate Banking Committee will hold a confirmation hearing for Milan next Thursday. If approved quickly, he could join the Fed in time for the September meeting, meaning Trump will have at least three supporters on the board. Furthermore, if the court rules that Trump can fire Cook, he will quickly nominate her successor, securing a 4-3 majority on the Board of Governors. This ruling is unlikely to be completed before the September meeting, but Cook's absence could leave the Board tied between Trump's three appointees, Biden's two appointees, and Powell. The probability of a September Fed rate cut is 87.4%. According to CME's "Fed Watch," the probability of the Fed keeping interest rates unchanged in September is 12.6%, and the probability of a 25 basis point rate cut is 87.4%. The probability of the Fed keeping interest rates unchanged in October is 5.6%, the probability of a cumulative 25 basis point rate cut is 45.8%, and the probability of a cumulative 50 basis point rate cut is 48.6%. What is a rug pull in cryptocurrency? How can you identify one? A "rug pull" occurs when a team or developer withdraws support for a project, leaving investors with worthless tokens. Crypto scams are common in decentralized finance (DeFi), where there are no regulations governing project operations. An individual or a group of developers creates 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 sell off their holdings and disappear, leaving investors stunned and empty-handed. The project's abrupt demise causes its token price to plummet, and investors lose most of their money. However, understanding what constitutes a "rug pull" in blockchain can help you identify red flags early on. If you know the signs of a cryptocurrency "rug scam," you can identify potential scams 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 liquidity lockup; 3. Sell order restrictions; 4. Limited number of token holders and wild price fluctuations; 5. Suspiciously high returns; 6. No external audits. Imagine a crowded market with vendors selling a variety of goods. A "rug scam" is like an impressive stall that attracts buyers with the promise of valuable items. The vendor takes advance reservations for these items at inflated prices. Just as the market is bustling, the vendor suddenly disappears, leaving behind an empty stall and worthless reservation receipts. In the context of cryptocurrency, vendors can commit this type of fraud in a variety of ways. One method involves fraudulent developers introducing hidden vulnerabilities in smart contracts to control native tokens or steal cryptocurrency from investors. Secondly, developers can use a technique called dumping. Third, scammers may implement a "blanket" operation by limiting sell orders.
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