Crypto Morning Brief: Trump announces firing of Fed governor Cook, SBI forms strategic partnership with Chainlink
TechFlow Selected TechFlow Selected
Crypto Morning Brief: Trump announces firing of Fed governor Cook, SBI forms strategic partnership with Chainlink
OKX DEX will charge a service fee for the exchange of certain trading pairs.
Navigating Web3 tides with focused insightsAuthor: TechFlow
Yesterday's Market Developments
Trump Announces Firing of Fed Governor Cook
According to Jinshi Data, U.S. President Trump signed a document removing Federal Reserve Governor Cook from office with immediate effect. In the document, Trump stated: "Pursuant to the authority vested in me by Article II of the United States Constitution and the amended Federal Reserve Act of 1913, I hereby remove you from your position on the Board of Governors of the Federal Reserve System effective immediately. Given your dishonest conduct in financial matters, which may involve criminal wrongdoing, I cannot have confidence in your integrity. At a minimum, these actions demonstrate serious negligence in financial transactions, raising questions about your competence and credibility as a financial regulator."
Grayscale Submits S-1 Filing for Avalanche ETF to the SEC
Grayscale has submitted an S-1 filing for an Avalanche ETF to the U.S. Securities and Exchange Commission (SEC).
OKX DEX to Charge Service Fees on Certain Spot Trading Pairs
According to an official announcement, OKX DEX will begin charging service fees on certain spot trading pairs via its aggregator starting August 25, 2025, at 10:00 (UTC+8).
SBI and Chainlink Form Strategic Partnership to Advance Institutional Digital Asset Applications
According to Financefeeds, SBI Group announced a strategic partnership with Chainlink aimed at promoting institutional adoption of blockchain solutions in global markets, starting with Japan.
The collaboration will focus on multiple use cases including tokenized real-world assets, tokenized funds, and compliant stablecoins. The two parties will leverage Chainlink’s cross-chain interoperability protocol to develop cross-chain tokenized assets such as real estate and bonds. Additionally, the partnership includes integrating Chainlink SmartData for fund tokenization and utilizing Chainlink’s Proof-of-Reserves system for transparent verification of stablecoin reserves.
Story Co-founder: All Funds Raised Will Be Used to Repurchase IP
Story co-founder and CEO S.Y. Lee (@storysylee) announced that 100% of the $82 million raised through PIPE financing via CASK will be used to purchase IP tokens, committing to enter "Saylor mode." The buyback program will be executed in the open market and continue until November 16, 2025.
Prior news reported that Story partnered with Nasdaq-listed Heritage Distilling (NASDAQ: CASK) to launch a $360 million strategic reserve for $IP.
Arthur Hayes: HYPE Has Potential for 126x Upside
Arthur Hayes stated during his WebX Summit speech that Hyperliquid's token (HYPE) has the potential for a 126x growth. The project plans to expand its stablecoin strategy, projecting annualized fees to reach $258 billion by 2028.
It forecasts stablecoin supply to reach $10 trillion by 2028, with Hyperliquid capturing 26.4% market share, daily average trading volume (ADV) reaching $2.636 quadrillion—significantly up from the current $11.9 billion. With a net trading fee rate of 0.03%, annualized revenue is projected to reach $25.8 billion.
Currently, HYPE’s fully diluted valuation (FDV) stands at $41.05 billion. At a 5% discount rate, HYPE’s revenue terminal value is estimated at $5.161 billion.
Bloomberg: GALAXY, JUMP, and MULTICOIN Seeking to Raise $1 Billion to Buy SOL
According to Bloomberg, GALAXY, Jump Crypto, and Multicoin Capital are seeking to raise $1 billion to purchase SOL.
U.S.-listed Sharps Technology Announces Over $400 Million Private Placement, Plans to Establish SOL Strategic Reserve
According to PRNewswire, Nasdaq-listed Sharps Technology (STSS) announced an ongoing private placement exceeding $400 million, planning to establish a digital asset reserve strategy primarily holding SOL. Notable institutional investors in this private placement include ParaFi, Pantera, FalconX, and Phoenix Capital.
Alice Zhang, the company’s newly appointed Chief Investment Officer, stated that the Solana ecosystem is gaining institutional support, making it an ideal time to build a digital asset reserve strategy. The private placement is expected to close on August 28.
B Strategy Plans to Raise $1 Billion to Establish Nasdaq-Listed BNB Treasury Company, Backed by YZi Labs
According to The Block, digital asset-focused investment firm B Strategy announced plans to launch a BNB treasury company listed on Nasdaq, targeting $1 billion in fundraising. The yet-to-be-named BNB treasury company will receive strategic backing from YZi Labs. A representative said that besides financial support, YZi Labs will also provide ecosystem support by connecting partners within its network.
B Strategy said it will leverage its extensive presence across the Asia-Pacific region to access liquidity, market intelligence, and distribution channels, revealing that several well-known Asian family offices have joined as anchor investors.
A YZi Labs representative told media that the Nasdaq listing and $1 billion fundraising plan are expected to be completed within weeks.
DeFi Dev Corp Announces $125 Million Equity Financing to Expand SOL Reserves
According to Globe Newswire, U.S.-listed DeFi Development Corp. (Nasdaq: DFDV) announced a $125 million equity financing agreement at $12.50 per share. The company will issue approximately 4.2 million shares of common stock and about 5.7 million pre-funded warrants. The transaction is expected to close on August 28.
The company will receive cash and locked SOL as consideration, with proceeds used to purchase spot SOL and discounted locked SOL to expand its SOL reserve holdings.
Hong Kong-listed Marco Digital Announces Subscription to WLFI Fund: Indirect Investment of ~HK$3.925 Million in ALT5
Hong Kong-listed Marco Digital Technology (MOG Holding) released a voluntary announcement regarding subscription to membership interests in the WLFI fund, disclosing that it recently indirectly invested $500,000 (~HK$3.925 million) in Nasdaq-listed ALT5 Sigma Corporation through the fund. The fund participated in ALT5’s recent issuance alongside multiple global institutional investors and crypto venture firms, led by World Liberty Financial.
Market Overview
Recommended Reading
Silicon Valley’s Shadow Network, Crypto Wealth, and the U.S. Vice President: Peter Thiel’s Power Web
This article focuses on Silicon Valley billionaire Peter Thiel’s power network, covering his strategic positioning in technology, cryptocurrency, and politics through contrarian thinking. It details Thiel’s journey from the PayPal Mafia to building a crypto empire, and how he expanded his influence through investments, talent cultivation, and political clout.
This is an exclusive interview with Bridgewater Associates founder Ray Dalio, covering investment strategies, asset allocation, and wealth succession. He shares insights on investing in low-interest environments, the importance of asset diversification, allocations to gold and Bitcoin, the role of stablecoins, and personal finance wisdom. Dalio emphasizes rebalancing strategies and diversified investing, offering practical financial advice.
Western Union’s Stablecoin Gamble: Can a 172-Year-Old Legacy Player Reinvent Itself?
This article discusses Western Union, a 172-year-old traditional payments giant, facing immense challenges in digital transformation. While its stablecoin initiative may improve financial management, it fails to address structural decline in core business. By strengthening its global agent network and bridging cash and digital economies, Western Union might find new growth drivers. However, this transition is risky and requires bold strategic moves.
DAO Governance Dilemma: $3.3 Billion in Assets vs Silent Voting Booths
This article explores the current state and challenges of DAO (Decentralized Autonomous Organization) governance, particularly low voter turnout, power centralization, and cumbersome governance processes. It points out that the core challenge lies in failed consensus transmission mechanisms and proposes solutions such as behavior-path reconstruction to enhance governance experience, exemplified by tools like Firefly.
11 Ways to Profit from Prediction Markets
This article dives deep into the underlying logic and profit opportunities in prediction markets, emphasizing that they are not mere gambling tools but complex systems based on data, behavioral patterns, and time arbitrage. It outlines 11 strategies—including arbitrage, liquidity provision, and exploiting market lags—demonstrating how structural operations and market insight can generate profits. It also touches on token trading and tax planning.
Join TechFlow official community to stay tuned
Telegram:https://t.me/TechFlowDaily
X (Twitter):https://x.com/TechFlowPost
X (Twitter) EN:https://x.com/BlockFlow_News
深潮TechFlow
