Odaily News: U.S. President Trump said in an interview with Fox News: "The deal with Iran is worthless, and I have given Iran many opportunities. Iran's various misdeeds just won't stop; they are crazy and stupid. Our strike on Iran today was very large-scale. If Iran makes another mistake, the country will be completely wiped out. If Iran retaliates, we will strike it with even greater force. Iran is trying to rebuild its radar because they can't see anything. We waited until they almost finished building it before we struck." (Jin Shi)
According to ChainCatcher, data from The Block shows that the cumulative market value of digital asset reserve companies (DATs) has increased by 10% since mid-August, currently reaching about $340 billion, but still far below the approximately $490 billion when Bitcoin hit its historical high of about $126,000 in October to November last year. These companies buy and hold cryptocurrencies, raising funds at a premium and using this as leverage to increase their token holdings, with investors betting on their ability to amplify the returns of the underlying assets.
According to data from Bloomberg and BlackRock senior ETF analyst Eric Balchunas, posted on the X platform on September 1, BlackRock's iShares Bitcoin Trust (IBIT) has achieved a cumulative return of 71% since its listing in January 2024, outperforming Vanguard's S&P 500 Index Fund (VOO), which had a total return of 66% during the same period. Balchunas described the upward trajectory of IBIT as a roller coaster ride, while the performance of VOO was much steadier in comparison.In 2024, the U.S. Securities and Exchange Commission approved 11 spot Bitcoin ETFs after a decade of rejections, and IBIT began trading that year. Currently, IBIT manages assets of $61.4 billion, making it the largest Bitcoin ETF; the second-largest, Fidelity's Wise Origin Bitcoin Fund, manages nearly $11 billion. BlackRock, which manages over $15 trillion in assets, shook the crypto market after submitting its application for a spot Bitcoin ETF in 2023, providing traditional investors with exposure to Bitcoin and showing higher daily trading activity than other similar ETFs.On the funding side, investors poured back into ETFs in August, with a total investment of over $2.8 billion from August 17 to 27, marking the highest level since Bitcoin reached an all-time high last October. Bitcoin briefly rose to $81,281 last Monday, then fell back on Friday, closing at $77,539, with a 24-hour decline of nearly 1%; Bitcoin has risen nearly 30% over the past month.
Odaily News: According to GMGN data, the market cap of ROBINCAT, a Meme coin on the Robinhood Chain ecosystem, briefly exceeded $6.8 million and is now reported at approximately $5.2 million, up over 130 times in a day.
Odaily reminds that Meme coin prices are highly volatile and susceptible to market sentiment and hot events. Please be aware of trading risks.
According to Bloomberg, the U.S. Department of Homeland Security signed a one-year, no-bid contract worth $95 million with cryptocurrency analytics firm TRM Labs in July to provide cryptocurrency tracking software and data analysis personnel, serving the White House's efforts to combat cryptocurrency fraud and cybercrime targeting American citizens.Competitor Chainalysis has filed a lawsuit against the Trump administration regarding the contract, claiming that the awarding process was "arbitrary, capricious, and unreasonable." The U.S. stated in a public explanation that TRM is "the only vendor capable of providing the complete technology, data, and operational support services required."
The global bond bear market continues to ferment, with Japan's 10-year government bond yield rising to 3% on Tuesday, the first time since 1996; the 30-year government bond yield also broke through the historical high of 4.18%. The U.S. 10-year government bond yield simultaneously rose to a multi-year high of 4.78%, and global long-term sovereign bond yields are at their highest level since the 2008 financial crisis.Against this backdrop, Bitcoin remains in a sideways consolidation, maintaining around $78,000, slightly retreating from an earlier high of nearly $79,000. There is a dense resistance area between the current spot price and $86,000, which limits Bitcoin's upward momentum. Market sentiment remains cautiously optimistic in the short term, with the $76,000 to $82,000 range seen as a key battleground in the coming weeks.This round of selling occurred after U.S. Treasury Secretary Yellen announced an increase in the maximum scale of government bond repurchase transactions to $4 billion starting in September, with some commentators likening it to a form of yield curve control. Arthur Hayes has long argued that the Federal Reserve will eventually activate the FIMA repurchase facility, a mechanism that would create new dollar liquidity, which is also why he recommends allocating Bitcoin, gold, and cryptocurrencies; Yellen hinted at the future use of this tool as early as August.
According to The Information, informed sources revealed that Elon Musk has made adjustments to the team responsible for data center construction at SpaceX in recent weeks, replacing several leaders and transferring executives from the rocket and satellite internet business to strengthen data center infrastructure development.Two informed sources stated that this data center reorganization was due to some civil engineering issues and ongoing reliability problems at the existing data center facilities of SpaceXAI located in Tennessee and Mississippi.During the early stages of artificial intelligence infrastructure development, SpaceXAI acted hastily to quickly establish these data centers, resulting in some facilities operating for months without backup cooling and power systems. Informed sources indicated that this increased the risk of system outages.
Odaily News: Musk stated that bringing large AI data centers online requires building large-scale power generation facilities, transformers, liquid cooling loops, and cooling systems, as well as extremely complex network infrastructure, especially computing clusters for AI model training.
Earlier, Musk said that amid increasingly tight power supply, Google and Anthropic are renting AI computing power from SpaceX, and claimed that SpaceX is currently ahead of other companies in the efficiency of deploying AI computing infrastructure.
On-chain data analysis platform Glassnode posted on X that Bitcoin and the stock market are decoupling, with the correlation between Bitcoin and the S&P 500 approaching a nearly two-year low.Glassnode stated that the close relationship with stocks that previously defined the recent downward trend is fading.
According to market news, Brother Ma Ji issued the Meme token TAIWAN on the Robinhood chain and used approximately 16,700 USDC to buy about 27.56 million TAIWAN in the evening, with a purchase market value of about 600,000 USD.Yu Jin stated that he does not recommend participating in this scheme, citing reasons including Brother Ma Ji's previous multiple issuances of Meme tokens; the Meme coin Bobaoppa issued for his dog in 2024 raised about 220,000 SOL (approximately 40 million USD) but only injected about 60,000 SOL into the pool, with the rest retained for personal use, and set a transaction tax of about 8.75%. This token has now basically gone to zero.
Odaily News: Eric Trump stated that he holds a significant amount of Bitcoin as a macro hedge against inflation and economic instability, and believes that Bitcoin is the best complement to physical assets.
Federal Reserve Governor Michael Barr stated that the Fed should be prepared to raise interest rates if inflation does not decline.He warned that the inflation rate has remained above target for more than 5 years, and there is a risk of entrenched price pressures. Barr indicated that if upcoming data shows inflation is cooling, policymakers can afford to be patient.In a speech at an event in Washington on Tuesday, Barr said, "If the data trends give me confidence that inflation is easing and moving toward the 2% target, then I think we can take a little more time to assess the policy stance. But if inflation does not appear to be cooling sufficiently, then I think we should take decisive action to raise interest rates."
Odaily News: Fed Governor Barr: Inflation is still too high. If confident in slowing inflation, I would favor holding rates steady. If inflation doesn't slow soon, it will be time to raise rates. Persistently high inflation poses risks. If data trends convince me that inflation is easing toward the 2% target, then assessing the policy stance may take time. (Jin Shi)
According to CoinDesk, AI company Anthropic has reached a $35 billion computing power procurement agreement with Lambda, an AI cloud service provider supported by NVIDIA, part of which will be provided through Bitcoin mining company Hut 8's Beacon Point facility located in Nueces County, Texas.Hut 8 previously disclosed that the facility has signed two long-term leases for 15 years, covering 704 MW of IT capacity, with a total contract value of $19.6 billion, but the identity of the tenants had not been disclosed earlier. The facility spans 525 acres and has a maximum power access capacity of 1 GW with ready grid connections.According to the currently disclosed transaction structure, NVIDIA holds the lease for the facility, Lambda will deploy NVIDIA chips, and Anthropic will procure the computing power generated from this. Hut 8 has not confirmed how much of the 704 MW capacity is related to Lambda and Anthropic, nor has it confirmed whether NVIDIA is the previously undisclosed tenant.As the demand for power and computing resources in AI data centers surges, Bitcoin mining companies with ready power and grid access capabilities are accelerating their transformation into AI infrastructure. Mining companies including Hut 8, TeraWulf, IREN, and Bitdeer have all entered the AI data center market by selling or leasing computing power and power infrastructure.Hut 8's revenue for the second quarter of this year was $74.93 million, a year-on-year increase of 81%; its two leases at Beacon Point have a total value of $19.6 billion, and the facility is expected to generate approximately $1.31 billion in operating profit annually once fully operational.
Odaily News: According to reports, US Treasury Secretary Bessent recently urged Japan to raise interest rates to curb the continued depreciation of the yen. Analysts believe this highlights the vulnerability of traditional monetary policy to government and external factors. In contrast, Bitcoin's monetary policy is predetermined by code, with new coin issuance following a fixed schedule, halving approximately every four years, offering higher predictability. Bitcoin will still struggle to escape the impact of traditional financial markets in the short term. If Japan raises interest rates and drives a rapid appreciation of the yen, long-accumulated low-interest yen carry trades may be unwound, triggering sell-offs in stocks, bonds, and crypto assets. In August 2024, the Bank of Japan's rate hike strengthened the yen and put pressure on risk assets, including Bitcoin. On the technical side, BTC's 50-day moving average is rising and approaching a crossover above the 200-day moving average, potentially forming a "golden cross." Analysts note that moving averages are lagging indicators, and the golden cross as a standalone indicator has historically been unstable in its predictive performance.
Analysis suggests that U.S. Treasury Secretary Yellen recently urged Japan to raise interest rates to curb the continued depreciation of the yen, highlighting how traditional monetary policy is susceptible to government and external factors. In contrast, Bitcoin's monetary policy is pre-set by code, with new coin issuance following a fixed rhythm and halving approximately every four years, providing greater predictability. However, Bitcoin still struggles to escape the impacts of traditional financial markets in the short term.If Japan's interest rate hike leads to a rapid appreciation of the yen, long-accumulated low-interest yen financing trades may be unwound, potentially triggering sell-offs in stocks, bonds, and crypto assets. In August 2024, the Bank of Japan's interest rate hike strengthened the yen and put pressure on risk assets, including Bitcoin. Technically, the BTC 50-day moving average is currently trending upward and is close to crossing above the 200-day moving average, which may form a "golden cross." However, analysts believe that moving averages have a lagging nature, and the historical predictive effectiveness of the golden cross as an independent indicator is not stable.
Odaily News: According to GMGN market data, the market cap of the AI token on Robinhood Chain has surpassed $200 million, with a 24-hour increase of over 100%.
It is reported that AI was issued via Long.xyz, the issuance platform on the Robinhood Chain ecosystem, and is directly paired with NVDA, the tokenized stock of Nvidia.
Odaily reminds users that Meme coin prices are highly volatile, and investors should be aware of the risks.
Odaily News: Kevin Ngo posted on X, saying "I GOT HACKED." Following the announcement, the Robinhood Chain ecosystem Meme coin FABLE experienced a sharp decline, dropping over 90% in 2 minutes. Its market cap is now reported at $1.54 million, with a low of $760,000, and a 24-hour trading volume of $11.7 million.