Crypto Morning Brief: U.S. debt surpasses $37 trillion for the first time; major token unlocks for APT, ARB, AVAX, and others this week
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Crypto Morning Brief: U.S. debt surpasses $37 trillion for the first time; major token unlocks for APT, ARB, AVAX, and others this week
World Liberty Financial, backed by the Trump family, plans to establish a $1.5 billion crypto asset company.
Navigating Web3 tides with focused insightsAuthor: TechFlow
Yesterday's Market Dynamics
The Kobeissi Letter: U.S. Total Debt Surpasses $37 Trillion for the First Time
According to The Kobeissi Letter, the total U.S. debt has officially exceeded $37 trillion for the first time in history. Since July 4, when Trump signed the "Beautiful Big Act" and raised the debt ceiling, the total U.S. debt has increased by $780 billion—equivalent to an average daily increase of $22 billion.
Last week alone, the U.S. government sold $724 billion in Treasury bonds through 10 operations, indicating that the U.S. debt crisis is now more severe than ever.
World Liberty Financial, Backed by the Trump Family, Plans to Establish a $1.5 Billion Crypto Asset Company
According to Bloomberg, World Liberty Financial is planning to form a public company to hold its WLFI token. Sources indicate the project aims to raise approximately $1.5 billion and is currently in talks with institutional investors in the tech and cryptocurrency sectors. The company will join the ranks of corporate digital asset treasury firms.
BlackRock Explicitly States No Plans to Launch XRP or SOL ETFs
According to The Block, BlackRock, the world's largest asset management firm, stated on August 9 that it currently has no plans to file for an XRP or SOL ETF. This announcement came after the conclusion of Ripple’s multi-year legal battle with the U.S. Securities and Exchange Commission (SEC).
Although market expectations had risen that the end of the Ripple case might prompt major institutions to apply for an XRP ETF, a BlackRock spokesperson confirmed to media outlets that the firm will continue focusing on its existing Bitcoin and Ethereum ETF businesses. Currently, several institutions including ProShares and 21Shares have already submitted XRP ETF applications to the SEC.
Hong Kong Monetary Authority Responds to Some Money Changers Still Illegally Exchanging Tether: MSO Licenses Not Covered Under "Authorized Providers"
According to Caixin, visits to multiple money changers operating cryptocurrency services in Hong Kong’s Admiralty and Tsim Sha Tsui areas revealed that some have suspended USDT and USDC conversions with fiat currencies, while others have even closed down. However, some changers, although no longer openly advertising stablecoin exchange rates, still allow private inquiries and transactions.
The Hong Kong Monetary Authority responded that the primary purpose of the "Stablecoin Regulation" is to protect holders of stablecoins by regulating the issuance and sale (referred to as "offer to provide" under the regulation) of fiat-backed stablecoins. Most Hong Kong money changers hold Money Service Operator (MSO) licenses issued by Hong Kong Customs, which are not included within the scope of "authorized providers." Over-the-counter virtual asset trading platforms are currently not considered "authorized providers" under the Stablecoin Regulation, meaning they cannot offer stablecoins to retail or professional investors regardless of whether the stablecoin is regulated. Whether individual OTC platforms engage in offering stablecoins depends on their specific business arrangements and circumstances, and cannot be generalized.
Ethereum Co-Founder: Asset Managers Could Push ETH Market Cap Past BTC Within a Year
Joe Lubin, co-founder of Ethereum and CEO of Consensys, said, “Asset management firms could push ETH’s market cap beyond BTC within a year.”
Bitwise Executive: U.S. Ivy League Universities Fully Betting on BTC, Potentially Driving More Capital Inflows
In response to Harvard University and Brown University disclosing their holdings in BTC ETFs, Juan Leon, Senior Investment Strategy Officer at Bitwise, posted on X that U.S. Ivy League institutions are fully betting on BTC. With endowments exceeding $60 billion combined, increased cryptocurrency allocations by these two universities could drive further capital inflows. Moreover, as leading U.S. academic institutions, their adoption of cryptocurrencies sends a clear signal, encouraging other university endowments to follow similar investment strategies.
AI Startup Periodic Labs Raises $200 Million, Led by a16z
According to Techinasia, Periodic Labs, founded by former OpenAI research VP Liam Fedus and former DeepMind research scientist Ekin Dogus Cubuk, has raised $200 million in funding, reaching a post-money valuation of $1 billion. The company focuses on using artificial intelligence for new materials research and discovery. Andreessen Horowitz led the round, with OpenAI also expected to participate.
Michael Saylor Posts Bitcoin Tracker Update Again, Likely to Accumulate Bitcoin Next Week
Michael Saylor, Executive Chairman of Strategy, once again shared Bitcoin Tracker information on X, writing: “You don't stop making money until you stop buying bitcoin.”
Based on previous patterns, Strategy typically discloses its Bitcoin accumulation the day after such messages are posted.
Major Token Unlocks for APT, ARB, AVAX, and Others This Week
According to Token Unlocks data, significant token unlocks for APT, ARB, AVAX, and others are scheduled for next week:
Aptos (APT): Approximately 11.31 million tokens will unlock at 8:00 AM Beijing time on August 12, representing 2.20% of current circulating supply, valued at around $52.1 million;
Arbitrum (ARB): Approximately 92.65 million tokens will unlock at 9:00 PM Beijing time on August 16, representing 2.04% of current circulating supply, valued at around $43.24 million;
Avalanche (AVAX): Approximately 1.67 million tokens will unlock at 8:00 AM Beijing time on August 15, representing 0.51% of current circulating supply, valued at around $39.2 million;
Sei (SEI): Approximately 55.56 million tokens will unlock at 8:00 PM Beijing time on August 15, representing 1.21% of current circulating supply, valued at around $17.9 million;
Solayer (LAYER): Approximately 27.02 million tokens will unlock at 10:00 PM Beijing time on August 11, representing 9.51% of current circulating supply, valued at around $17 million;
Starknet (STRK): Approximately 127 million tokens will unlock at 8:00 AM Beijing time on August 15, representing 5.98% of current circulating supply, valued at around $16.8 million;
io.net (IO): Approximately 13.29 million tokens will unlock at 8:00 PM Beijing time on August 11, representing 6.51% of current circulating supply, valued at around $8.3 million;
peaq (PEAQ): Approximately 84.84 million tokens will unlock at 8:00 AM Beijing time on August 12, representing 7.03% of current circulating supply, valued at around $5.6 million;
BounceBit (BB): Approximately 42.9 million tokens will unlock at 8:00 AM Beijing time on August 11, representing 6.36% of current circulating supply, valued at around $5.4 million.
Market Movements
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