According to The Wall Street Journal, the U.S. Securities and Exchange Commission (SEC) has intensified its scrutiny of companies behind so-called Special Purpose Vehicles (SPVs). According to informed sources, SEC examiners have been requesting registered investment advisors to provide evidence that their SPVs actually own or hold shares in the private companies they claim.Some insiders have indicated that, ahead of the highly anticipated initial public offerings of SpaceX and Anthropic's planned listing, such funds have ramped up their marketing efforts, while complaints from investors have also increased, prompting regulators to decide to strengthen their scrutiny. According to one of the insiders, the SEC's current reviews typically include document requests, and some reviews also involve on-site interviews. The review process can last anywhere from several weeks to a year.
Odaily News: According to GMGN data, the Robinhood ecosystem Meme coin MOO has surpassed a market cap of $15 million, now reporting $15.44 million, up over 500% in 24 hours.
It is reported that MOO is a stock-themed Meme coin on the RH chain, with trading pair MOO/MU, directly paired with the tokenized stock Micron on the Robinhood Chain.
Odaily reminds that Meme coin prices are highly volatile and susceptible to market sentiment and hot events. Please be aware of trading risks.
Odaily News: Trump said the US economy could grow at a rate of 14%, 15%, or even 20%, and argued that even such rapid growth should not be a reason to raise interest rates. He also demanded that the US have the "lowest interest rates in the world." Since World War II, the US GDP growth rate has reached 20% only once, and that occurred during the special rebound period after the pandemic.
Trump believes that even if the economy truly achieves such rapid growth, it should not be a reason for the Fed to raise rates. "The success of growth will not trigger inflation," he said during an event in the Oval Office announcing an agreement to lower prescription drug prices. Trump still views faster economic growth as a reason to support rate cuts. In response to a reporter's question about the Fed possibly raising rates, he said: "We should have the lowest interest rates in the world."
Protocol Watch founder Christine D. Kim stated that Bitcoin Core v32 has completed feature freeze on August 20, and developers are currently focusing on bug fixes and small optimizations, with the official version expected to be released in October this year.The main updates in v32 include increasing block validation speed by up to approximately 3 times through multi-CPU core parallel processing; introducing a global transaction queue and rate limiting to improve node stability during sudden surges in transaction volume; and adding a fee estimation mechanism based on Mempool status to reduce overestimation of fees. This update does not involve changes to the protocol rules at the Bitcoin network level.
Bitfinex published an analysis stating that despite tightening macro conditions, Bitcoin remains steady above $77,100. Last week, after Federal Reserve Chairman Warsh's hawkish speech in Jackson Hole, BTC fell from above $81,000, but the rise in August was primarily driven by spot buying rather than excessive leverage—open interest gradually increased, the basis remained relatively restrained, and last week, net inflows into U.S. spot Bitcoin ETFs approached $1 billion, while Ethereum investment products saw a net inflow of $815.7 million for 10 consecutive days.On the macro front, U.S. PCE inflation is at 3.7%, core inflation at 3.3%, annualized private demand growth in Q2 is 4.2%, and the deficit for the first 10 months of this fiscal year reached $1.8 trillion. Warsh confirmed that the 2% inflation target is a hard constraint, and the market has raised the probability of a rate hike in September to 57%. Bitfinex believes that the continued support from ETF and stablecoin liquidity is sustaining prices, but expectations of interest rate hikes limit the upside potential. If crypto inflows remain resilient, it will prove that underlying demand is still solid.
Odaily News: According to GMGN market data, the market cap of BONER, a Meme coin on the Robinhood Chain ecosystem, briefly surpassed $74 million and is now reported at approximately $67.67 million, with a daily increase of 464.2%.
Odaily reminds that Meme coin prices are highly volatile and susceptible to market sentiment and hot events. Please be aware of trading risks.
Odaily News: The U.S. Court of Appeals for the Ninth Circuit ruled 3-0 on Aug. 28 that sports event contracts offered by Kalshi are not swaps, and the Commodity Exchange Act does not preclude Nevada from applying gambling regulations to such contracts. The court also vacated an injunction that had allowed Kalshi to continue offering the contracts, and denied injunction requests from Crypto.com and Robinhood.
In April, the U.S. Court of Appeals for the Third Circuit ruled that Kalshi's contracts were likely swaps and protected by federal law from state regulation. The two federal appellate courts are now split, and New Jersey has until Sept. 3 to seek review by the U.S. Supreme Court.
Kalshi said it will seek further review and believes that current Commodity Futures Trading Commission (CFTC) regulations do not prohibit sports event contracts. Robinhood said it plans to appeal; the CFTC noted that derivatives structured as swaps are swaps, and the law provides no exceptions other than for onions and movie box office revenue. (Bitcoin.com News)
According to sources cited by The Wall Street Journal, Donald Trump Jr. is set to lead 1789 Capital in a proposed additional investment of approximately $300 million into the prediction market platform Polymarket, as part of a $1 billion financing round led by 1789 Capital. If completed, Polymarket's valuation will reach approximately $21 billion.1789 Capital has previously invested about $200 million in Polymarket, and after this round, it will become one of its largest investors. The largest investor in Polymarket currently is the Intercontinental Exchange (ICE), which has disclosed holding shares in Polymarket valued at $1.6 billion, accounting for about 22% of the company's outstanding shares.
Cango Inc. (NYSE: CANG), a Bitcoin mining company, announced its unaudited financial results for the second quarter ending June 30, 2026, on August 31. The total revenue for the quarter was $50.8 million, of which Bitcoin mining revenue was $47.4 million, with a net loss of $81.6 million, primarily impacted by non-cash impairment and disposal losses of mining machines. The company holds 1,056 Bitcoins as digital asset reserves and has long-term debt of $31.2 million.The total operational hash rate reached 27.58 EH/s, including 19.84 EH/s self-operated and 7.74 EH/s leased. The company mined 656 Bitcoins during the quarter, with the average cash cost per Bitcoin decreasing by approximately 5% quarter-over-quarter to $73,313. The company has initiated a hedging strategy. CEO Paul Yu stated that the company focuses on the economic efficiency of mining units, has completed the transformation of the Georgia site (capable of supporting up to 3 megawatts), container units have been installed, GPU hardware has arrived in batches, and plans to launch bare-metal GPU hosting and managed services, expecting to generate revenue in the third quarter. CFO Simon Tang mentioned that the net loss mainly comes from non-cash items.
Dialectic Meccanico announced plans to launch the on-chain vault Starloop based on Makina on Base, expected to go live in September 2026, for eligible tokenized SpaceX exposure holders to put their positions to use.After users deposit tokenized SpaceX exposure, the vault will borrow USDC against it as collateral and deploy it to approved on-chain opportunities, with net earnings flowing back to depositors while retaining exposure to the underlying assets. Dialectic is the first operator of Makina and has operated public vaults such as DUSD and DETH.
Odaily News: Bitcoin News posted on X that Peach Bitcoin stated that Swiss regulators are seeking to re-examine the compliance framework for its KYC-free peer-to-peer Bitcoin trading platform, which has been permitted to operate since 2022. Peach Bitcoin will temporarily exit the custody process starting September 1, 2026, and adopt a non-custodial model during the appeal period.
In the temporary model, only users who have completed KYC, been authorized through manual whitelisting, or met transaction record requirements can create sell orders. Sellers who have not completed KYC can only participate in one ongoing transaction at a time. The buy function remains available to all users, with a maximum transaction limit of 500 Swiss francs per transaction and a maximum premium of 6%. The in-app dispute resolution system remains available, but Peach Bitcoin will no longer sign in custody and will continue to charge a 2% fee from released transactions.
Peach Bitcoin founder @proofofsteph stated that the company will not immediately abandon the KYC-free model and will communicate with regulators regarding its position; if the appeal ultimately fails, the company will comply with the regulatory decision.
Peach Bitcoin stated that Swiss regulators are seeking to re-examine the compliance framework of its KYC-exempt peer-to-peer Bitcoin trading platform, which has been authorized to operate since 2022. Peach Bitcoin will temporarily exit the custodial process starting from September 1, 2026, and will adopt a non-custodial model during the appeal period.In the temporary model, only users who have completed KYC, been manually whitelisted, or meet transaction record requirements can create sell orders. Sellers who have not completed KYC can only participate in one ongoing transaction at a time. The buying function remains open to all users, with a single transaction limit of 500 Swiss francs and a maximum premium of 6%. The in-app dispute resolution system will still be available, but Peach Bitcoin will no longer sign in custody and will continue to charge a 2% fee from released transactions.Peach Bitcoin founder @proofofsteph stated that the company will not immediately abandon the KYC-exempt model and will communicate with regulators regarding its position; if the final appeal fails, the company will comply with regulatory decisions.
Robinhood Chain recorded a single-day DEX trading volume of $989 million on Friday, setting a historical high. The total value locked (TVL) on the chain reached $708 million, with a nearly 100% month-over-month increase; the supply of stablecoins was approximately $770 million, with a month-over-month increase of 47%.In July, the chain was dominated by the memecoin market after the launch of CASHCAT's spot trading, while in August it shifted towards utility and infrastructure tokens. PONS is one of the leading launchpads on the chain, with its market capitalization increasing from $20 million to over $200 million. Another leading launchpad, LONG (long.xyz), supports tokens paired with tokenized stocks (mainly memecoins), which is a core differentiating advantage of Robinhood Chain.The largest stock-paired memecoin is "AI" (Artificial Inu), paired with tokenized NVDA, with its market capitalization rising from $1.5 million on August 1 to a peak of $135 million on August 30, and its NVDA pool liquidity exceeding $3.3 million. Memecoins paired with tokenized stocks account for about a quarter of the stock-related trading volume on the chain. Other projects include the liquidity layer protocol Delta, the ve(3,3) emission project UP similar to Aerodrome, and the OHM-style bond project NetNet, all of which saw their valuations increase tenfold in August.
Odaily News: The BIP-110 community restarted the minority fork chain that stalled on August 8 this weekend, and the chain has mined over 800 blocks. Blockchain developer Luke Dashjr switched the proof-of-work algorithm from SHA-256d to Blake2b and reduced the block size to 300 KB.
The BIP-110 minority chain forked at Bitcoin block height 961632 and then stalled; at height 961640, Silent Wave mined a block under the new Blake2b consensus rules. The project expects to release new software on September 1.
The fork chain's asset has not been listed on any centralized exchange, and CoinGecko and CoinMarketCap do not display its token code. BIP-110 developer Chris Guida said the chain does not use centralized KYC exchanges, advocating for obtaining and using Bitcoin through transactions of goods and services. (Bitcoin.com News)
Bitcoin holding company Strategy (formerly MicroStrategy) has written to MSCI opposing its proposal to exclude "non-operating companies" from the global investable market index, stating that the proposal is "misleading and flawed." Strategy founder Michael Saylor and CEO Phong Le expressed in the letter that MSCI's proposal discriminates against digital asset companies and questioned its fairness and reliability as an index provider.Earlier this month, MSCI announced that it is consulting on the definition of "non-operating companies" and plans to exclude such companies from its global investable market index. Strategy pointed out that this is the second time MSCI has proposed a similar plan, as a previous proposal for 2025 was withdrawn. Strategy emphasized that it is an operating company, employing approximately 1,500 people globally, and reports its Bitcoin business as an operating segment, with Bitcoin gains and losses reported as operating expenses.Strategy is currently the largest corporate holder of Bitcoin, holding 845,050 Bitcoins, valued at approximately $6.58 billion at current prices. MSTR closed up 4% on Monday, but has fallen 15% year-to-date.
According to SoSoValue data, the XRP spot ETF saw a net inflow of $26.2 million on August 28, continuing a streak of nine consecutive days of net inflows since mid-August, with a total net inflow of approximately $1.6 billion. In just the last nine days, these funds attracted over $725 million in capital.Bloomberg Intelligence analyst James Seyffart stated on X that, given the weak performance of XRP prices, the ETF fund flows are "surprisingly resilient," with funds flowing almost exclusively in one direction, totaling a net inflow of about $1.8 billion according to his statistics. According to the Q2 13F filings, Goldman Sachs leads the XRP spot ETF holders with an exposure of approximately $87.4 million, followed by Jane Street and Millennium Management; by category, investment advisors are the largest holders and allocators.XRP is currently trading at approximately $1.39, down 2.7% in the last 24 hours, with a weekly decline of about 7.6%. The first XRP ETFs in the U.S. are set to launch in November 2025. In contrast, Bitcoin spot funds recently ended a streak of nine consecutive days of net inflows.
Odaily News: CME FedWatch tool data shows that as of 11:40 a.m. ET on Aug. 31, the probability that the Federal Open Market Committee (FOMC) will raise the federal funds rate target range by 25 basis points to 3.75%-4.00% at its September meeting is 66%.
The Federal Reserve has been raising interest rates since 2022 to combat rising inflation. Fed Chair Kevin Warsh said at the recent Jackson Hole symposium that the personal consumption expenditures (PCE) price index has risen 3.7% over the past 12 months and 4.1% over the past six months, both above the 2% target, and that the current priority should be to control prices.
Barclays expects the Fed to raise rates twice more this year, in September and December, for a cumulative 50 basis points, bringing the federal funds rate target range 50 basis points higher than current levels. (Forbes Digital Assets)
According to The Defiant, the meme coin BONER, built around Hims & Hers short positions on the Robinhood Chain, has absorbed over half of the tokenized HIMS stock. As of Monday 17:12 UTC, a total of 58,714 tokenized HIMS have been issued on-chain, of which 31,198 (53%) are locked in the BONER/HIMS liquidity pool, while another 1,424 are spread across eight other meme coin pools, leaving only 20,303 in the HIMS/stablecoin and HIMS/ETH pools for price discovery.Due to the NYSE being closed over the weekend and the lack of real-time stock prices for arbitrage, the weak liquidity pool experienced significant volatility driven by small orders: the token surged to $132.64 during the Sunday 22:00 time slot, while the stock's closing price last Friday was only $28.84. After the NYSE reopened on Monday, BBVI minted about 4,000 new tokens in less than an hour to inject a premium, and the price quickly fell back to around $29. In contrast, Ondo Finance issued approximately 10.4 million similar HIMS wrapped tokens, with a market cap of $30.8 million, which is 18 times the circulation of Robinhood Chain, closely tracking the underlying stock throughout.Robinhood Chain is an Ethereum Layer 2 built by Robinhood based on Arbitrum technology, launched on July 1, with a TVL of $727.4 million on Monday.
As the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) accelerate their rule-making efforts for the $2.5 trillion industry amid a legislative stalemate on cryptocurrency market structure during the summer recess, both agencies are advancing multiple crypto-related initiatives. These include re-evaluating the definitions of derivatives such as swaps and perpetual contracts, as well as rewriting the SEC's crypto custody rules.A bipartisan group composed of former CFTC Chairman Chris Giancarlo, former CFTC Commissioners Brian Quintenz and Sharon Brown-Hruska, former SEC Commissioner Steven Wallman, and former SEC Chief Economist Chester Spatt stated in a comment letter sponsored by Kalshi that similar risks should receive similar regulatory treatment, and overlapping rules should not impose additional compliance costs. Giancarlo noted that if federal regulation is calibrated based on actual risks rather than maximum burdens, liquidity will flow back to the U.S., and the longer we wait, the harder it will be to attract that liquidity back.Kalshi estimates that offshore perpetual contract trading volume will exceed $90 trillion by 2025, up from about $28 trillion two years ago. Additionally, the SEC last week submitted its plan to rewrite the custody rules for investment advisers and investment companies to the White House Office of Information and Regulatory Affairs for review, and its "Reg Crypto" proposal has officially entered the Federal Register, with a public comment period ending on October 20.
Bitcoin mining company BitMine Immersion Technologies stated in its latest staking disclosure that as of August 30, it has staked 5,067,309 ETH, valued at approximately $12.7 billion based on a price of $2,511. The company's disclosed staking balance remained unchanged from August 9 to 30, while it added 53,501 ETH in the latest week, bringing its total holdings to 5,901,112 ETH.BitMine indicated that its Ethereum vault accounts for about 4.9% of the total Ethereum supply of 120.7 million coins, and the company had previously set a target to acquire 5% of the total Ethereum supply. The company has set the annualized yield for its staking operations over the past seven days at 2.63%, stating that the annualized staking income corresponding to the current holdings is approximately $335 million; if the entire ETH balance is staked through its self-built network and staking partners at the same yield, the annualized staking rewards could reach $390 million.BitMine officially launched its self-built "Made in America Validator Network" (MAVAN) in April this year. In its April disclosure, the company mentioned that some staked ETH had already been deployed on MAVAN, but did not specify the exact amount. BitMine's staking holdings were 4,879,157 ETH at the beginning of July, surpassed 5 million on August 9, and have remained stable in the subsequent four weekly disclosures. The company's chairman, Tom Lee, has stated that BitMine's staked ETH amount exceeds that of any other entity.