Summary
gm, BitMine Immersion Technologies has emerged as the second-largest Ethereum holder after acquiring $1.7 billion worth of ETH, bringing its total holdings to over $6.6 billion, while Google increased its stake in Bitcoin miner TeraWulf to 14%, becoming its largest shareholder. Meanwhile, Wyoming made history by launching the first state-issued stablecoin (FRNT) across seven blockchains including Ethereum and Solana, which itself demonstrated impressive scalability by processing over 100,000 transactions per second during a stress test. These developments occurred against a backdrop of cautious market sentiment, with most cryptocurrencies experiencing a pullback as traders await Federal Reserve Chair Jerome Powell's upcoming speech at Jackson Hole, leading to significant liquidations in leveraged positions and prompting South Korea to temporarily suspend new crypto lending services due to concerns over market stability.

News Headlines
🔐 Hackers Using Fake Captchas to Spread Lumma Stealer Malware

  • Hackers are distributing Lumma Stealer malware through fake Captcha prompts, targeting sensitive information including crypto wallet data and passwords on infected devices.
  • The malware operates as Malware-as-a-Service with cybercriminals paying subscription fees, creating a sustainable illegal enterprise that rapidly collects browser credentials, 2FA tokens, and system information.

🏦 Circle Acquires Malachite to Power Its Upcoming Blockchain Arc

  • Circle, the USDC stablecoin issuer, has acquired Malachite, a consensus engine developed by Informal Systems, to support its new blockchain called Arc which will focus on stablecoin finances.
  • The acquisition includes onboarding several developers from Informal Systems to Circle, with Malachite's technology remaining open source under the Apache 2.0 license and continuing to be supported for other projects.

🏈 Borussia Dortmund Partners With Blockchain Game 'FIFA Rivals'

  • FIFA Rivals, a blockchain-based mobile game, has announced its first collaboration with Borussia Dortmund, introducing in-game player cards, team kits, and collectibles throughout the 2025/26 season.
  • Players can access exclusive digital player cards featuring current team members and participate in promotional giveaways to earn free player card packs by logging in daily.

🛠️ Yuga Labs CEO on Crypto Market: 'This Cycle is Different'

  • Yuga Labs CEO Greg Solano states this crypto cycle differs from previous ones as traditional consumer interest is currently subdued, while institutional movements like treasury companies and ETFs are driving on-chain activity in North America.
  • Despite a 93% year-over-year decline in crypto gaming funding and user engagement, Yuga Labs has significant financial backing for its "Otherside" game, with enough cash for 2-3 years of development.

🌟 The Heaven Memecoin Launchpad Buys Back Everything with Revenue

  • Heaven, a new Solana-based memecoin launchpad, is committing 100% of its protocol revenues to buybacks of its native LIGHT token, creating a 'God Flywheel' that has boosted the token's market cap by 225%.
  • Within just one week, Heaven has spent approximately $27 million on token buybacks, establishing a sustainable trading platform model while fostering investor confidence in the memecoin space.

Market Metrics

Fundraising & VC
1. Almanak (Undisclosed, $8.45M) - Web3 platform for building, optimizing, and deploying financial strategies
2. Block Earner (Series A, $8M) - Australian crypto exchange
3. Rice AI (Series A, Undisclosed) - Decentralized AI robotics platform

Regulatory
🤖 SEC Chair Atkins: "Very Few Tokens Are Securities"

  • SEC Chair Paul Atkins stated that only a small number of crypto tokens should be categorized as securities, marking a significant shift from former Chair Gary Gensler's position that most crypto assets qualified as securities.
  • This stance aligns with the agency's Project Crypto initiative, which aims to revise regulations and influence how companies are regulated concerning digital assets.

🏦 Fed's Vice Chair Suggests Allowing Staff to Hold Crypto

  • Federal Reserve Vice Chair for Supervision Michelle Bowman has proposed allowing Fed staff to invest in small amounts of cryptocurrencies to improve their understanding of the technology.
  • Bowman argued that current restrictions, which prohibit most Fed employees from owning crypto, may hinder recruitment and retention of staff with essential skills in this area.

💼 Tether Hires Former White House Crypto Council Director as Strategic Advisor

  • Tether has appointed Bo Hines, former executive director of the White House Crypto Council under President Trump, as its strategic advisor for U.S. strategy and digital assets.
  • Hines will focus on guiding Tether's entry into the American market and ensuring USDT compliance with the new GENIUS Act regulations, leveraging his legislative expertise and blockchain knowledge.

🏛️ Senate Banking Chair: Up to 18 Democrats May Support Crypto Market Structure Bill

  • Senator Tim Scott, chair of the Senate Banking Committee, expects between 12-18 Democratic votes for the Senate's version of the Digital Asset Market Structure Clarity Act, building on bipartisan support seen for the GENIUS Act.
  • Scott is actively reaching out to Democrats outside his committee and anticipates a vote by the end of September despite opposition from Senator Elizabeth Warren.

🏛️ Banking Lobby Pushes for GENIUS Act Changes to Restrict Interest-Bearing Stablecoins

  • The Banking Policy Institute is urging Congress to close potential loopholes in the GENIUS Act that might allow interest-bearing stablecoins, which they claim could risk traditional credit systems.
  • Banking lobbyists argue that shifts from bank deposits to stablecoins could raise lending costs and decrease business loans, while crypto proponents, including Coinbase's CEO, advocate for the benefits of interest-bearing stablecoins.

Technical Analysis
Bitcoin - Bitcoin has broken the floor of the rising trend channel in the short term, which indicates a weaker initial rising rate. The currency has met the objective at 116746 after a break of the inverse head and shoulders formation. The price has now fallen, but the formation indicates further rise. The currency is testing support at points 113500. This could give a positive reaction, but a downward breakthrough of points 113500 means a negative signal. The currency is overall assessed as technically positive for the short term.

Ethereum - Ethereum has broken the floor of the rising trend channel in the short term, which indicates a weaker initial rising rate. The currency has support at points 3870 and resistance at points 4770. The currency is assessed as technically slightly positive for the short term.