The U.S. Department of Commerce has announced that it will publish real gross domestic product (GDP) data on a blockchain, starting with data from July 2025. According to a revised estimate released by the Bureau of Economic Analysis, GDP grew at an annualized rate of 3.3% in July 2025. This marks the first time a federal agency has published economic statistics on a blockchain in this manner and the latest initiative by the Department of Commerce to leverage innovative technologies to protect federal data and promote public access. The Department of Commerce has published official hashes of its 2025 quarterly GDP data (and, in some cases, total GDP data) on nine blockchains: Bitcoin, Ethereum, Solana, TRON, Stellar, Avalanche, ArbitrumOne, Polygon PoS, and Optimism. This data is also being further disseminated through coordination with Python and Chainlink oracles. The U.S. Commodity Futures Trading Commission (CFTC) Division of Market Regulation today issued guidance on the Foreign Platform of Exchange (FBOT) registration framework, which applies to non-U.S. entities legally organized and operating outside the United States that wish to provide direct trading platform access to individuals located in the United States. The CFTC's FBOT registration framework applies to all markets, regardless of asset class, including traditional and digital asset markets. Acting Chairwoman Caroline D. Pham said: "The FBOT guidance issued today provides regulatory clarity for trading activities that left the United States due to the 'enforcement-style regulation' of the past few years to legally return to the United States. By reaffirming the CFTC's long-standing approach to providing American traders with a variety of options and access to the world's deepest and most liquid markets, as well as a rich variety of products and asset classes, American companies that have been forced to set up operations in foreign countries to conduct crypto-asset trading now have an opportunity to return to the U.S. market."
Market
As of press time, according to Coingecko data:
BTC price is $112,449, with a 24-hour increase or decrease of +1.1%;
ETH price is $4,501.22, with a 24-hour increase or decrease of -0.1%；
BNB price is $874.46, 24-hour increase or decrease+2.1%；
SOL price is $214.48, 24-hour increase or decrease+5.5%；
DOGE price is $0.2244, 24-hour increase or decrease+2.2%；
XRP price is $2.97, 24-hour increase or decrease+ TRX price is $0.3447, with a 24-hour change of -0.3%. ▌The Bank of Korea proposes to provide central bank support for stablecoins. At a joint event that brought together industry and academia and focused on the issue of stablecoins, the head of the Bank of Korea's Digital Currency Research Laboratory expressed his views on stablecoins and proposed that stablecoins need to be supported by the central bank. Yun Sung-guan, an official at the Bank of Korea, stated, "Stablecoins are not a new type of currency, but rather the tokenization of existing currencies on a distributed ledger." He further added, "To achieve stable operation, they ultimately require the support and guarantee of the central bank." US President Trump is considering holding a national Republican convention before the midterm elections. US President Trump stated that the Republican Party is expected to "win a landslide" in the midterm elections. Blockchain Applications Tether announced today that it will launch USDT on RGB. According to an official announcement, Tether announced today that it plans to launch USDT on the RGB protocol, a next-generation protocol for issuing digital assets based on the Bitcoin network. The RGB protocol recently launched on mainnet with version 0.11.1. Designed to enable Bitcoin to transcend its single purpose as a store of value, RGB paves the way for stablecoins to exist natively on the Bitcoin network by supporting private, scalable, and user-controlled asset issuance. For Tether, this means USDT can be traded directly on the world's most secure and decentralized network—the Bitcoin network—providing high-speed, private, and lightweight payment services to billions of users worldwide. Coinbase has officially announced that it has become the crypto infrastructure partner for the on-chain implementation of US economic data. Coinbase stated that on-chain data will provide greater transparency and accessibility.
▌Bitcoin-first protocol Portal to Bitcoin completes $50 million in new financing
Bitcoin-first protocol Portal to Bitcoin has secured $50 million in new financing led by Paloma Investments, bringing the project's total financing to $92 million. The funds will be used to support the expansion of the company's adapter BitScaler. BitScaler can scale native Bitcoin without the use of wrapped tokens, custodial bridges, or "messaging or other insecure alternatives." Portal plans to use the new funds to expand its grant program and attract institutional and community liquidity providers. The company is also currently conducting pilot integrations with wallets and custody platforms to demonstrate non-custodial token swaps.
Cryptocurrency
▌JPMorgan Chase: Bitcoin price expected to rise to $126,000 by the end of the year
JPMorgan analysts said that Bitcoin's current price is "too low" compared to gold because its volatility has fallen to a historical low; Bitcoin's volatility has dropped from nearly 60% at the beginning of the year to about 30% now, a record low. Analysts said that Bitcoin's fair value is about $126,000, and this target is expected to be achieved before the end of the year. Bitplanet announces $40 million Bitcoin treasury plan. Paul Lee, co-founder and managing partner of Lobo Ventures, announced at the 2025 Asia Bitcoin Conference that Bitplanet plans to establish a treasury company dedicated to holding Bitcoin and will invest $40 million in Bitcoin acquisitions. Susquehanna Bitcoin ETF Holdings Just Increased to $2.34 Billion, according to market news released by The Bitcoin Historian. Susquehanna, a well-known US financial services company with $720 billion in assets under management, has just increased its Bitcoin ETF holdings to $2.34 billion.
▌CIMG, a listed company, raised $55 million through a rights offering and will purchase 500 bitcoins
CIMG Inc., a digital health company listed on the Nasdaq, announced that it has signed a definitive securities purchase agreement to issue 220 million shares of common stock to nine non-U.S. investors to raise $55 million and will purchase 500 bitcoins. The average purchase price per bitcoin is expected to be $110,000, and the transaction will be settled in early September.
▌The U.S. SEC has postponed its decision on adding a staking feature to the Grayscale spot Ethereum ETF
According to market news, the U.S. SEC has postponed its decision on adding a staking feature to the Grayscale spot Ethereum ETF. Solana's total locked-in value (TVL) reached $8.6 billion, a 30.4% month-over-month increase. According to a chart published by unfolded, Solana's total locked-in value (TVL) reached $8.6 billion, a 30.4% month-over-month increase. Leading protocol Kamino saw a 33.9% month-over-month increase, while Raydium saw a 53.5% month-over-month increase. 21Shares applied for a Sei ETF and plans to explore staking functionality, while the SEC is still reviewing altcoin ETFs. 21Shares has filed an S-1 registration statement with the U.S. Securities and Exchange Commission (SEC), proposing to launch a Sei ETF. The prospectus states that it hopes to explore the possibility of staking a portion of SEI tokens for rewards. The SEC has not yet approved the ETF's staking feature. Previously, Grayscale, BlackRock, and 21Shares' proposed Ethereum spot ETF staking plans were also rejected. The SEC recently stated that some liquid staking activities do not involve securities, which may provide room for ETF staking. The SEI ETF will directly track the price of SEI, the native cryptocurrency of the SEI network. The SEC is also reviewing other altcoin ETF applications, including Litecoin, Solana, Dogecoin, and XRP. USDC Treasury minted a total of 1.892 billion USDC in the past seven hours. According to Whale Alert, the USDC Treasury minted a total of 1,892,131,597 USDC (in seven transactions) in the past seven hours. Approximately two hours ago, 1 billion USDC was transferred from the USDC Treasury to Coinbase.
▌Tether Treasury minted 1 billion USDT on Ethereum
According to Whale Alert monitoring, at 22:26 Beijing time yesterday, Tether Treasury minted 1 billion USDT on the Ethereum network.
▌Kalshi expands Solana prediction market, allowing deposits in USDC or SOL
Kalshi expands Solana prediction market, allowing deposits directly in USDC or SOL. AirNet Technology Completes $180 Million in Financing, Entirely in Digital Assets Nasdaq-listed AirNet Technology Inc. (ticker: ANTE) announced the completion of its previously announced private placement, raising approximately $180 million through the sale of 80,826,225 shares of common stock and accompanying warrants. Notably, the entire proceeds were paid in digital assets, including approximately 819.07 Bitcoin and 19,928.91 Ethereum (before deducting issuance fees). AirNet CEO Dan Shao stated that this financing marks a new chapter for the company, which has hired an experienced team of cryptocurrency professionals to develop a comprehensive development strategy.
Important Economic Developments
▌Federal Reserve Board Governor Waller: Supports a 25 basis point rate cut in September, with further rate cuts expected in the next 3 to 6 months
Federal Reserve Board Governor Waller expressed support for a 25 basis point rate cut at the Federal Reserve's September meeting and expected further rate cuts in the next 3 to 6 months. He did not believe a larger rate cut would be needed in September unless the August employment report showed a significant weakening of the economy and inflation remained well under control. Excluding the temporary impact of tariffs, the underlying inflation rate is close to 2%. The policy interest rate is "modestly constrained" and is expected to be 1.25 to 1.50 percentage points above the neutral rate.
▌U.S. Treasury Secretary: Tariffs Have Not Impacted Prices or Consumer Spending
U.S. Treasury Secretary Bensonte: Driven by President Trump's "Beautiful Bill," capital spending increased, leading to an upward revision of GDP. Data shows that tariffs have not affected prices or consumer spending.
▌Federal Reserve Board Governor Cook Sues US President Trump
Market News: Federal Reserve Board Governor Lisa Cook has sued US President Trump, protesting his removal from the Federal Reserve.
▌U.S. real GDP Annualized Quarterly Rate Revised to 3.3%
U.S. real GDP Annualized Quarterly Rate Revised to 3.3% in the second quarter, in line with expectations of 3.1% and the previous reading of 3.0%. According to CME's "Fed Watch," the probability of the Fed keeping interest rates unchanged in September is 13.8%, and the probability of a 25 basis point rate cut is 86.2%. The probability of the Fed keeping interest rates unchanged in October is 6.7%, the probability of a cumulative 25 basis point rate cut is 49.1%, and the probability of a cumulative 50 basis point rate cut is 44.2%. What is a Bitcoin flash crash? A Bitcoin flash crash is a sudden, sharp drop in the BTC market price that lasts only a short time, after which the price begins to recover. Unique market conditions cause market prices of leading cryptocurrencies to fluctuate. Typically, a flash crash is caused by a large group of sellers (known as whales) suddenly deciding to sell Bitcoin, flooding the market with supply. This overwhelms buyers and can wipe out 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 robust 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 charged 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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