Summary
gm, Around $2.75 billion in new institutional initiatives focused on digital asset treasuries, especially in Solana, have been announced by leading firms including Galaxy Digital, Multicoin Capital, Jump Crypto, and Pantera Capital. Ethereum has shown resilience despite recent market volatility, with Standard Chartered predicting a $7,500 price target by year-end while corporate entities like SharpLink and BitMine continued accumulating substantial ETH positions during the dip. Meanwhile, the Trump administration deepened its crypto engagement with Commerce Secretary Howard Lutnick announcing plans to publish GDP data on blockchain and Trump Media forming a strategic partnership with Crypto.com to establish a $6.4 billion Cronos treasury, signaling growing institutional and governmental adoption of blockchain technology across multiple fronts.

News Headlines
💲 Cap Labs attracts capital with EigenLayer-backed credit model

  • Cap Labs' stablecoin cUSD has quickly surged to $67.85 million in circulation with 2,735 holders, demonstrating strong demand for their yield-layered digital dollar model.
  • The stablecoin combines regulated reserve assets with EigenLayer-powered credit underwriting, with the yield-bearing version (stcUSD) currently providing a floating yield of around 12%.

🎮 Solana-based Jakpot Games launches pay-to-play arcade

  • Jakpot Games has launched a pay-to-play arcade on the Solana blockchain, allowing players to use JAKPOT tokens to compete for high scores in browser-based games like Rex Runner and Speed Racer.
  • The platform has recorded over 7,300 games played and 26.7 million JAKPOT tokens issued, with 85% of tokens allocated to top scorers while setting aside funds for marketing, development, and future tournaments.

🛢️ UAE Holds $700 Million in Bitcoin From Mining Operations

  • The United Arab Emirates holds approximately 6,300 Bitcoin (worth around $700 million), primarily acquired through mining activities via Citadel Mining, partly owned by the UAE government's International Holding Company.
  • This makes the UAE the sixth-largest sovereign holder of Bitcoin globally, with their holdings coming entirely from mining operations rather than criminal seizures like other countries.

📱 Gemini surpasses Coinbase on app store charts after XRP Mastercard launch

  • Gemini has overtaken Coinbase in the US Apple App Store's finance category, rising to 16th place from 117th following the launch of a limited edition XRP-rewards credit card in partnership with Ripple Labs and Mastercard.
  • Despite the rankings shift, Coinbase still maintains a significantly larger daily trading volume of $4.54 billion compared to Gemini's $382.49 million.

🔍 Crypto trader claims MEXC asked them to fly to Malaysia to unfreeze $3.1M

  • A crypto trader known as "White Whale" claims MEXC exchange requested they fly to Malaysia for in-person KYC verification to unfreeze $3.1 million in assets, despite having completed standard KYC procedures.
  • The trader declined citing safety concerns, especially given the rise in crypto kidnappings, and has launched a campaign including NFTs that tag MEXC urging the release of the funds.

Market Metrics

Fundraising & VC
1. Hemi Network (Undisclosed, $15M) - Bitcoin programmability layer
2. MAGNE.AI (Strategic, $10M) - AI-native Web3 smartphone
3. Splendor (Seed, $4.5M) - Layer 1 blockchain built for the blockchain-native AI economy

Regulatory
👨‍⚖️ CFTC Commissioner Kristin Johnson Announces Departure

  • Commissioner Kristin Johnson will leave the CFTC on September 3, leaving the agency with limited leadership that could hinder its regulatory efforts in the crypto market.
  • Her departure comes at a critical time for crypto regulation, with only acting Chair Caroline Pham remaining and Trump's nominee for CFTC chair, Brian Quintenz, still awaiting confirmation.

🔍 Regulatory Scrutiny Grows for World Liberty Token

  • Investment bank Compass Point issued a warning about the World Liberty Financial token (WLFI), cautioning that its tokenomics could lead to a misleadingly high valuation that may harm retail investors.
  • Analysts expressed concern that with over 20% of the token's supply held by Trump's family in non-tradable accounts, the token could follow the pattern of previous Trump-related tokens that saw substantial early losses.

🔄 Japan Considers Yen-Pegged Stablecoin Launch

  • Monex Group is exploring the launch of a yen-pegged stablecoin backed by Japanese government bonds and redeemable 1:1 with yen, amid Japan's Financial Services Agency plans to approve domestic fiat-pegged digital currencies.
  • This development signals a shift in Japan's approach to stablecoins as it adapts to global digital finance trends, potentially enhancing international remittances and corporate settlements.

📱 44 State AGs Demand AI Companies Protect Children from Chatbots

  • A coalition of 44 state attorneys general issued a letter to 13 AI companies, including Meta, OpenAI, and Apple, urging enhanced protections for children against inappropriate content generated by AI chatbots.
  • The letter highlights concerns over children being exposed to sexually suggestive material, demanding immediate action to safeguard minors from potential risks linked to AI interactions.

💼 Donald Trump Jr. Joins Prediction Market Platform After Investment

  • Donald Trump Jr. has joined Polymarket's advisory board following an investment from his venture capital firm, 1789 Capital, as the platform seeks to legally re-enter the US market.
  • The platform is working toward regaining its American user base after a 2022 CFTC action forced it to block US users for operating an unregistered swaps platform, having since acquired a CFTC-licensed derivatives exchange.

Technical Analysis
Bitcoin - Bitcoin is in a falling trend channel in the short term. This shows that investors over time have sold at lower prices to get out of the currency, and indicates negative development for the currency. The currency is approaching support at 110000 points, which may give a positive reaction. However, a break downwards through 110000 points will be a negative signal. The currency is assessed as technically slightly negative for the short term.

Ethereum - Ethereum shows strong development within a rising trend channel in the short term. This signals increasing optimism among investors and indicates continued rise. The currency is approaching resistance at 4800 points, which may give a negative reaction. However, a break upwards through 4800 points will be a positive signal. RSI diverges negatively against the price, which indicates danger of a reaction downwards. The currency is overall assessed as technically neutral for the short term.