Crypto Morning Report: Trump has signed an executive order allowing 401(k) accounts to invest in digital assets and other alternative assets; Pump.fun establishes Glass Full Foundation
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Crypto Morning Report: Trump has signed an executive order allowing 401(k) accounts to invest in digital assets and other alternative assets; Pump.fun establishes Glass Full Foundation
Ant Group's self-developed public blockchain Jovay is expected to launch on the mainnet in September this year, with no token issuance involved.
Navigating Web3 tides with focused insightsAuthor: TechFlow
Market Developments Yesterday
U.S. Initial Jobless Claims for the Week Ending August 2: 226,000, vs. Expected 221,000
According to Jinshi Data, initial jobless claims in the U.S. for the week ending August 2 reached 226,000, higher than the expected 221,000. The previous figure was revised from 218,000 to 219,000.
Trump: Reciprocal Tariffs Will Take Effect at Midnight Tonight, Billions of Dollars Will Start Flowing into the U.S.
On August 7, according to Jinshi Data, U.S. President Trump posted on social media: "Reciprocal tariffs will take effect at midnight tonight. Billions of dollars will start flowing into the United States, primarily from countries that have taken advantage of us for years. The only thing standing in the way of American greatness is a radical left-wing court that wants to see our country fail."
Trump Has Signed an Executive Order Allowing 401(k) Accounts to Invest in Digital Assets and Other Alternative Investments
According to Wall Street Insights, the White House announced that President Trump has signed an executive order allowing 401(k) accounts access to alternative assets such as private equity, real estate, and digital assets, aiming to enhance returns and diversify risk.
The executive order directs the U.S. Securities and Exchange Commission (SEC) to revise relevant regulations to facilitate alternative asset investments within participant-directed defined contribution retirement savings plans. Previously, these retirement plans typically invested in relatively safe stocks and bonds.
Analysts believe this move will inject substantial capital into the private equity industry, opening up approximately $12.5 trillion in retirement account funds to the sector, and is also a key component of Trump’s push to advance the cryptocurrency industry.
Trump Announces Early Morning Nomination of Stephen Miran as Federal Reserve Governor
On August 8, according to Jinshi Data, U.S. President Trump stated: "I am very proud to announce that I have selected Stephen Miran, Chairman of the Council of Economic Advisers, to fill the recently vacated seat on the Federal Reserve Board, with a term expiring January 31, 2026. Meanwhile, we will continue searching for long-term replacements for other Federal Reserve positions. Stephen Miran holds a Ph.D. in Economics from Harvard University and performed exceptionally well during my first administration. He has been by my side since the beginning of my second term, and his expertise in economics is unparalleled—he will do an outstanding job. Congratulations, Stephen Miran."
Vitalik Supports Ethereum Reserve Companies but Warns Against Excessive Leverage Risks
According to Cointelegraph, in an interview with the Bankless podcast, Ethereum co-founder Vitalik Buterin expressed support for the development of Ethereum reserve companies, believing it could help expand ETH's investor base. However, he warned that excessive leverage could pose risks.
Vitalik emphasized the need to avoid reserve companies evolving into highly leveraged games, which could trigger forced liquidations during price declines, leading to a chain reaction of token price collapses and reputational damage.
Pump.fun Announces Establishment of Glass Full Foundation to Inject Liquidity into Ecosystem Tokens
According to an official announcement, Pump.fun announced early this morning the establishment of the Glass Full Foundation, aimed at accelerating the growth of the most dynamic and promising communities within the Pump.fun ecosystem. The foundation will inject significant liquidity into ecosystem tokens and has already provided initial support to multiple projects, with continued funding deployment planned.
Chainlink to Use Protocol Revenue to Build Strategic Reserve of LINK Tokens
According to an official announcement, the Chainlink Foundation today unveiled the Chainlink Reserve Program, designed to build a strategic reserve of LINK tokens using both on-chain and off-chain revenue streams. The reserve has already accumulated over $1 million worth of LINK tokens in its initial phase and will use the Payment Abstraction mechanism to automatically convert enterprise service revenues and on-chain fees into LINK tokens. The foundation stated that no withdrawals from the reserve are planned over the coming years.
Ripple Plans to Acquire Stablecoin Platform Rail for $200 Million
According to Investing.com, Ripple plans to acquire stablecoin platform Rail for $200 million.
Ant Digital Technologies: Self-developed Public Blockchain Jovay to Launch on Mainnet in September, No Token Issuance Involved
According to Jinshi Data, Bian Zhuoqun, Vice President of Ant Group and President of Blockchain Business at Ant Digital Technologies, revealed today that the company's self-developed public blockchain is scheduled to officially launch by the end of September 2025 and will be capable of processing real transactions. On April 30, Ant Digital Technologies publicly released Jovay, a Layer 2 blockchain, explicitly stating that Jovay is a compliant institutional-grade blockchain and will not issue any tokens. Bian Zhuoqun said Ant Digital Technologies aims to become a gateway connecting Web2 and Web3, bringing more trusted assets to Web3 while introducing more compliant capital into Web2. She cited forecasts predicting the global tokenized market could reach $16 trillion by 2030. Currently, Ant Digital Technologies has expanded its RWA asset footprint across sectors including new energy, computing power, and finance.
WhiteFiber, Subsidiary of Bit Digital, Completes IPO, Raises $159.4 Million
According to Bloomberg, WhiteFiber, a subsidiary of cryptocurrency asset management firm Bit Digital, completed its initial public offering on August 7. The company issued 9.4 million shares of common stock at $17 per share—reaching the upper end of the pricing range—raising a total of $159.4 million.
Nasdaq-listed Fundamental Global Seeks Up to $5 Billion in Funding, Primarily for Ethereum Purchases
Fundamental Global Inc., listed on Nasdaq, has filed an S-3 registration statement with the U.S. Securities and Exchange Commission to offer securities in multiple tranches with a total value of up to $5 billion. The company plans to use the majority of net proceeds from the sale of common stock to acquire Ethereum (ETH), with the remainder allocated to working capital needs, general corporate purposes, and operating expenses.
Market Overview
Suggested Reading
Another Chinese "Ban"? A 10-Year Evolution of Fake News in the Crypto Market
This article discusses how the crypto market has long been affected by fake news, ranging from early pranks to later organized crimes. These false reports not only disrupt markets but also cause significant losses for investors. The article reviews several typical cases of crypto-related misinformation over the past decade, analyzes their dissemination paths and impacts, and explores the mechanisms behind rumor generation and spread in the crypto space.
Who Killed the Cross-Chain King Cosmos?
This article tells the story of Cosmos, an ecosystem now facing a critical historical juncture. From being a star blockchain project to its current downturn, the reasons involve market volatility, governance failures, and structural challenges within multi-chain ecosystems. The article examines the transformation process of the Cosmos ecosystem, its current struggles, and potential future directions.
Lido Lays Off 15%, Marking the Second Half of the Ethereum Staking War
This article explores changes in the Ethereum staking landscape, particularly the challenges and opportunities decentralized staking platforms face amid institutionalization. As ETH shifts from retail hands to institutions, the survival space for decentralized staking platforms shrinks, while competition intensifies with traditional financial players entering the arena. The article analyzes regulatory easing, institutional decision-making logic, and the future trajectory of decentralized platforms.
DeFi Lego Game: Uncovering the Billion-Dollar Growth Flywheel of Ethena, Pendle, and Aave
This article provides an in-depth analysis of the core mechanisms of the decentralized stablecoin USDe, its yield volatility, and its growth through circular strategies involving Pendle and Aave within the DeFi ecosystem. It also explores the fixed-income conversion structure of PT-USDe, leveraged arbitrage strategies, risk management practices, and prospects for future expansion and ecosystem integration.
a16z Major Prediction: Will Vibe Coding Lead to Winner-Takes-All?
This article discusses market trends in AI application generation platforms, emphasizing the importance of vertical specialization and analyzing its profound impact on technology stacks, user behavior, business models, and ecosystems. The author argues that the future market will fragment into multiple categories, with each platform deeply optimized for specific domain needs, ultimately creating a win-win landscape.
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