Today's News Highlights:

A trading platform denies the submission of a Bitcoin-XRP dual ETF application.

The SEC and Ripple end their legal dispute: both parties waive their right to appeal, and the ruling related to XRP remains unchanged.

Vitalik expressed support for the "Ethereum Asset Reserve Company", but warned against over-leveraging.

The pSTAKE Foundation has launched a $50 million AI-Web3 Innovation Fund, now open for applications.

A certain whale/institution has accumulated over 170,000 ETH in the past 4 days, approximately worth 670 million USD.

The Ethereum spot ETF had a total net inflow of 222 million USD yesterday, continuing a net inflow for 3 days.

Fundamental Global plans to issue up to $5 billion in securities to acquire more Ethereum.

Animoca Brands has jointly established Anchorpoint with Standard Chartered Bank and others, applying for a stablecoin issuance license in Hong Kong.

Macroeconomics

A trading platform denies submitting a dual ETF application for Bitcoin-XRP.

According to a representative from a certain platform who clarified to the media, the company has not yet submitted any ETF applications related to cryptocurrency assets. Previously, some media reported that the company had submitted two ETF applications, including a dual ETF for gold and cryptocurrency assets as well as a dual ETF for Bitcoin and XRP, but its financial report did not explicitly confirm this news. The company stated that the relevant plans are still in the preliminary stages, and applications will be made after legal revisions are completed by the Japanese financial regulatory authority. The Financial Services Agency of Japan had previously proposed to include specific cryptocurrency assets under the "Financial Instruments and Exchange Act," but a specific timeline has not yet been determined. Future applications will be submitted by the company's subsidiary, with an initial target of individual investors, aimed at promoting the popularization of alternative investments.

The SEC and Ripple have ended their legal dispute: both parties have waived their appeals, and the ruling related to XRP remains unchanged.

According to reports, the U.S. Securities and Exchange Commission and Ripple Labs' attorneys jointly agreed to withdraw the appeal request in the Second Circuit Court of Appeals. The joint motion to dismiss submitted on Thursday shows that both parties will bear their own costs. Previously, Ripple Labs' CEO announced in June that the company intended to withdraw the cross-appeal, stating it wants to "turn the page and focus on building the value internet." Now both parties have abandoned the appeal, and Judge Analisa Torres' mixed ruling from 2023 will become the final decision. The ruling determined that the hundreds of millions of dollars worth of XRP sold by Ripple Labs to institutional investors constituted illegal securities sales, but on the issue of "dark pool" sales to retail investors, she sided with Ripple Labs.

Trump signs executive order to halt the unfair treatment of the cryptocurrency industry being cut off from banking services.

According to reports, on Thursday, U.S. President Trump signed an executive order aimed at preventing federal regulators from targeting financial institutions that do business with the cryptocurrency industry. The White House briefing stated that the digital asset industry has become an unfair target of "de-banking," practices that undermine public trust in banks and regulators, affect livelihoods, freeze wages, and impose a heavy economic burden on law-abiding Americans. The order removes "reputational risk" as a justification for regulatory tightening, although it does not specifically refer to cryptocurrencies, which have been previously cited as a focus for such actions. Previously, cryptocurrency companies and individuals complained that banks unfairly closed their accounts, and Trump pledged to end "Operation Choke Point 2.0." After Trump's signing of the order, he received support from Republican lawmakers. The Chairman of the House Financial Services Committee stated that this is an important step, and senators praised the order for bringing transparency and accountability to the industry.

A trading platform has partnered with the Spanish bank BBVA to allow customers to store assets outside the exchange.

According to the Financial Times in the UK, a trading platform is collaborating with the Spanish Foreign Bank to allow clients to custody their assets at the bank instead of within the exchange. This is a new initiative taken by the platform to appease investors following a record fine of $4.3 billion imposed by U.S. authorities in 2023. Spain's third-largest bank has recently started providing services to the platform as one of the few independent custodians. This move aims to alleviate investor concerns about the safety of exchanges, particularly after the FTX bankruptcy incident in 2022. The bank's brand recognition is higher than that of the platform's existing partners, which may enhance user trust. According to the cooperation arrangement, traders' funds will be stored in the bank in the form of U.S. Treasury bonds, while the platform will accept these assets as trading margins.

Animoca Brands has co-founded Anchorpoint with Standard Chartered Bank and others to apply for a stablecoin issuance license in Hong Kong.

According to official news, Animoca Brands has jointly established a joint venture in Hong Kong with Standard Chartered Bank (Hong Kong) and Hong Kong Telecom, named Anchorpoint Financial Limited, which aims to build a business model focused on the issuance and promotion of licensed stablecoins. Anchorpoint has formally expressed its intention to the Hong Kong Monetary Authority, planning to apply for a stablecoin issuer license when the "Stablecoin Regulation" comes into effect on August 1, 2025.

Trump nominates pro-crypto Stephen Miran for a seat on the Federal Reserve Board.

According to reports, U.S. President Trump has nominated pro-cryptocurrency economist Stephen Miran to serve on the Federal Reserve Board. Miran is currently the Chairman of the Council of Economic Advisers and has proposed simplifying cryptocurrency regulations. The position was previously held by Adriana Kugler, who announced her resignation last week, and Miran will fill this vacancy with a term ending on January 31, 2026. Additionally, Miran has been a senior strategist at an investment firm and has also worked at the U.S. Department of the Treasury and Fidelity Investments. It is worth noting that Trump has publicly clashed with Federal Reserve Chairman Powell over interest rate issues in recent weeks, and Miran has also criticized Powell.

Opinion

Analysis: The short-term oversold condition of Bitcoin may indicate the possibility of a rebound. If it breaks below the support level of $112,000, it could drop to the $106,000 range.

The latest weekly report analysis released by a certain platform indicates that Bitcoin has recently entered an adjustment phase, market momentum has weakened, trading volume has shrunk, and the funding rate remains low, showing that the market structure is becoming looser. With the seasonal disturbances in August compounded by external uncertainties, short-term sentiment has significantly become cautious. From a technical perspective, the $112,000 support level previously played a role in the initial correction, but the rebound has been insufficient, and this support level may face another test; if it is breached, market attention may shift to the $106,000 range.

The report further points out that the repricing of U.S. economic growth expectations may become a key factor for the resurgence of Bitcoin volatility. Currently, certain sectors of the U.S. economy are facing substantial slowdowns, with the ISM manufacturing index remaining in a contraction zone, and non-manufacturing indicators showing limited expansion. Recent employment data has also faced significant downward revisions. Market expectations for the Federal Reserve's "possible rate cut in September" are gradually increasing, but no clear signals have yet been released, which may lead to the continuation of a consolidation trend.

In addition, the report mentions that some publicly listed companies holding large amounts of Bitcoin have seen a contraction in their net asset value, which may weaken their ability to raise funds through issuing new shares to increase their Bitcoin holdings. In the short term, oversold technical indicators may suggest a possibility of a rebound, but the report is cautious about the sustainability of the rebound, leaning more towards the belief that prices will continue to consolidate sideways. Investors need to patiently wait for clear bottom signals or a resurgence in market momentum.

Vitalik expressed support for the "Ethereum Asset Reserve Company" but warned against excessive leverage.

According to reports, Ethereum co-founder Vitalik Buterin expressed support for the "Ethereum Asset Reserve Company" in a podcast interview, while also issuing a risk warning. He pointed out that public companies buying and holding Ethereum can allow more investors to access the token, and these companies provide more options for people with different financial situations by investing in the Ethereum Asset Reserve Company rather than holding directly. However, Buterin reminded that the future of Ethereum should not come at the cost of excessive leverage. He is concerned that a price drop could trigger a forced liquidation chain reaction, leading to further price declines and damaging credibility. However, he also stated that he believes Ethereum investors have enough self-discipline to avoid such collapses.

Analysis: Bitcoin has entered a cooling period of the bull market, indicating a pause in its upward trend.

According to reports, a report shared by an on-chain analytics company on Thursday shows that after Bitcoin reached a historical high of over $123,000 last month, it currently shows signs of short-term consolidation or mild downward risk. Bitcoin has entered a cooling period of the bull market, with the bull market index dropping from 80 to 60; although market conditions remain positive, the upward momentum has weakened. The decline in the index reflects the profit-taking phenomenon that occurred after Bitcoin recently reached its historical high, as well as the seasonal slowdown of trading activity during the summer. If Bitcoin's price continues to weaken, this indicator could fall into negative territory, causing the bull market index to drop below 40—this would be the first official bearish signal for the market since April 2023.

Multiple on-chain indicators confirm a decline in upward momentum, stablecoin liquidity stagnation turns red, and new capital inflows are exhausted; at the same time, on-chain profit margin signals turn red, and traders are taking profits. The company stated that Bitcoin may need new bullish catalysts to continue its upward trend, with its research director believing that a rate cut in the Federal Reserve's September meeting could be an important factor, as the market has long anticipated this.

Project Updates

The platform Alpha will launch Baby Shark Universe on August 9, (BSU).

A certain platform announced that its Alpha platform will launch Baby Shark Universe (BSU) on August 9. Eligible users can claim airdrop rewards using platform Alpha Points on the Alpha Events page after the trading starts.

The platform Alpha will launch SatLayer (SLAY) on August 11.

The platform Alpha announced that it will be the first trading platform to launch SatLayer (SLAY) on August 11. Eligible users can receive airdrops using Alpha points on the Alpha activity page after trading opens.

Base announced the launch of a content revenue-sharing mechanism for creators in the Base app.

Base announced on the X platform that creators can earn revenue on the Base app when users interact with their content. Each time a post is bought or sold, creators receive fees that go directly into their wallets. Starting today, Base will begin supporting creators in this new global economy by collecting minted content. Additionally, Base specifically states that this series is not intended to yield investment returns and does not constitute financial advice, reminding users to conduct their own research. Base plans to hold the relevant tokens indefinitely, without trading or selling, firmly believing that creators should be compensated directly for their creativity, and using this to showcase ways to monetize content.

A certain exchange will launch IP tokens on multiple markets.

According to the official announcement, a certain cryptocurrency exchange will list IP tokens on multiple markets.

The pSTAKE Foundation has launched a $50 million AI-Web3 Innovation Fund, which is now open for applications.

According to the official blog, the pSTAKE Foundation announced that its $50 million AI-Web3 Innovation Fund is now officially open for applications. The project aims to accelerate research, development, and collaboration in the cutting-edge fields of generative artificial intelligence and decentralized networks. The fund focuses on five strategic areas: 1. Decentralized Generative Agents: Autonomous AI entities fully on-chain; 2. On-chain provenance: Transparent ownership of datasets, models, and agent outputs; 3. Market layer for AI assets: Valuation, exchange, and collateral protocols; 4. Programmable Creative Engines: AI channels for dynamic multimedia; 5. Secure, composable infrastructure: Secure and scalable building blocks for interoperable AI-Web3 systems.

The Ethereum Foundation will donate an additional $500,000 for Roman Storm's legal defense.

Hsiao-Wei Wang, the co-executive director of the Ethereum Foundation, stated in a post on X that the foundation will donate an additional $500,000 for the legal defense of Tornado Cash founder Roman Storm. Wang emphasized: "Privacy is the norm, and writing code is not a crime." Previously yesterday, news reported that Tornado Cash founder Roman Storm was convicted of unlicensed money transmission, but the jury did not reach a consensus on the charges of money laundering and sanctions.

Animoca Brands and ProvLabs have jointly launched the RWA trading platform NUVA.

According to reports, Animoca Brands has partnered with Provenance Blockchain developer ProvLabs to launch the RWA trading platform NUVA. The NUVA marketplace will leverage Provenance's existing RWA ecosystem, which currently holds assets valued at approximately $15.7 billion. The first two tokenized products to be launched are Figure Technologies' US interest-bearing stablecoin security YLDS and the fixed-rate home equity line of credit pool HELOC.

NUVA adopts a "vault" structure to simplify the participation process for investors, allowing holders of nuYLDS or nuHELOC tokens to receive returns from the corresponding underlying assets. ProvLabs CEO stated that this model can provide on-chain trading possibilities for traditional illiquid assets. Animoca co-founder pointed out that when