Today's news tips:
1. Harvard Endowment Fund invested approximately $116 million in BlackRock Bitcoin ETF, exceeding its investment in Google's parent company Alphabet
2.ETH fell back after breaking through $4,200, with a daily increase of 3.94%.
3. Coinbase announced the launch of DEX trading in the app, unlocking millions of on-chain assets on the Base network
4. Binance Alpha will list Xeleb Protocol (XCX) on August 11th
5. BlackRock: No plans to submit XRP or SOL ETFs at this time
6. Dogwifhat's original pink beanie sold for approximately $800,000
7. Arthur Hayes: Had to buy back all the ETH and vowed never to take profits again
8. Ethereum spot ETF saw a net inflow of $461 million yesterday, marking the fourth consecutive day of net inflow
Macro
El Salvador Plans to Establish World's First Bitcoin Bank
According to information released by the El Salvador Bitcoin Office (@bitcoinofficesv) on the X platform, El Salvador will launch "Bitcoin Banks", marking that it may become the first country in the world to establish such an institution.
According to the Wall Street Journal, people familiar with the matter said that the US government is preparing to take Fannie Mae and Freddie Mac public later this year. The offering is expected to raise about $30 billion and is expected to launch later this year. Some people familiar with the matter said that some government officials are discussing plans that could value the two companies at a total of about $500 billion or more, and the offering would involve selling 5% to 15% of their shares. However, whether the two mortgage giants will conduct their initial public offerings (IPOs) as one company or two separate entities is still under discussion. Fannie Mae and Freddie Mac, which primarily package and sell mortgages, have been under government supervision since the 2008 financial crisis and rely on government-backed guarantees to protect investors from losses.
The three major U.S. stock indexes closed higher, with Apple rising more than 4%.
According to Cailian Press, all three major US stock indices closed higher. The Dow Jones Industrial Average rose 0.47%, bringing its weekly gain to 1.35%. The Nasdaq Composite rose 0.98%, bringing its weekly gain to 3.87%. The S&P 500 rose 0.78%, bringing its weekly gain to 2.43%. Circle rose 3.99%, while Coinbase fell 0.08%. Popular tech stocks generally rose, with Apple rising over 4%, bringing its weekly gain to 13%, its best weekly performance since July 2020. Google and Tesla rose over 2%, and Nvidia rose over 1%.
Ukraine to hold preliminary review of cryptocurrency market regulation bill at the end of August
Danylo Hetmantsev, chairman of the Ukrainian parliament's fiscal, tax, and customs policy committee, stated that the Ukrainian parliament plans to conduct a preliminary reading of a bill on cryptocurrency regulation by the end of August. Once approved, the bill will establish a legal framework for digital assets that aligns with European standards. "Preparation of a draft law on the taxation of virtual asset transactions is currently in the final stages," he said. "The bill is expected to be submitted to the Verkhovna Rada for a first reading by the end of August 2025."
A key provision of the bill allows individuals to legalize previously acquired digital assets. Under the provision, holders seeking to legalize their assets will be subject to a 5% personal income tax and a 5% military tax.
Viewpoint
Vitalik Buterin noted in a post that Visa was originally founded on the principle of decentralization, with its original intentions highly similar to modern DAOs (decentralized autonomous organizations), but is now viewed by many as a "value-extracting" or "oppressive" institution. He believes this transformation provides important insights for the governance and development of Web3 and crypto networks. The discussion also touched on the "Chaordic Organization" concept proposed by Visa founder Dee Hock, emphasizing that Visa was a pioneering example of decentralized governance and ownership, worthy of reflection and learning for the crypto industry.
BlackRock: No plans to submit XRP or SOL ETF at this time
BlackRock has stated that it currently has no plans to file an XRP or SOL ETF. Companies including ProShares, 21Shares, Canary, and Bitwise have already submitted applications for potential XRP ETFs to the U.S. Securities and Exchange Commission (SEC) for review. Some sources indicate that if BlackRock had wanted to list an XRP ETF, it would have already submitted the application.
Nate Geraci, president of The ETF Store, tweeted that Ethereum holding companies and spot ETFs have purchased $19 billion worth of Ethereum so far this year, with ETFs investing $7 billion and companies investing $12 billion.
Arthur Hayes: I had to buy back all the ETH and vowed never to stop taking profits again
Arthur Hayes tweeted: "I had to buy it all back. Tom Lee (Chairman of Bitmine, the largest ETH treasury company) will you forgive me? I swear I will never take profits again."
Earlier reports indicated that Arthur Hayes sold approximately $13.35 million worth of ETH, ENA, and PEPE. He also predicted that Bitcoin would test $100,000 and Ethereum $3,000. Today , ETH broke through $4,200 before retreating, posting a 3.94% intraday gain.
Project News
PeckShield: CrediX's official X account has been deactivated.
Money market protocol CrediX’s official account (@CrediX_fi) has been deactivated, according to a PeckShield warning.
Previously, CrediX suffered a security incident, resulting in a loss of approximately US$4.5 million .
Dogwifhat's original pink beanie sells for around $800,000
Dogwifhat (WIF), the original pink beanie worn by the terrier Achi, was auctioned on the Ord City platform and ultimately sold to Finn, the founder of Bags, a Solana meme coin incubator. The hat had previously been sold as an NFT photo on Foundation for 1210.8 ETH (approximately $4.3 million). The Bags founder stated that he would participate in the auction using transaction fees from the platform's "BUY THE HAT" token and may link the hat to a token in the future. Dogwifhat (WIF) currently has a market capitalization of nearly $1 billion, down over 70% from its NFT auction high.
Solana's SPAC IPO plan, led by Joe McCann, is terminated
Solana, a digital asset treasury company led by Joe McCann, has halted its plan to go public through a SPAC. The company had originally planned to raise up to $1.5 billion through a merger with Gores Holdings X, with McCann serving as co-founder and CEO. Sources familiar with the matter said the reason for the cancellation was undisclosed, and the company may explore alternative IPO paths. Previously, an LP at McCann's hedge fund, Asymmetric, reported a nearly 80% year-to-date loss.
Last month, it was reported that the new Solana treasury company Accelerate plans to raise $1.5 billion in funding, with Joe McCann as CEO .
According to the Coinbase official blog, Coinbase has launched a decentralized exchange (DEX) feature within the app, allowing users in the United States (excluding New York State) to directly trade millions of on-chain assets on the Base network. Users can use their Coinbase balances or USDC to trade using an integrated self-custodial wallet. The platform automatically filters major DEXs (such as Aerodrome and Uniswap) for the best prices and blocks assets identified as malicious or fraudulent. Coinbase plans to support more networks, including Solana, and expand globally.
According to Bloomberg, World Liberty Financial, a company backed by the Trump family, plans to establish a publicly traded company to hold its WLFI token, joining the growing trend of digital asset finance companies. According to people familiar with the matter, the structure of the deal is still being finalized, with an expected fundraising target of approximately $1.5 billion. The company has approached major investors in the tech and cryptocurrency industries about the joint venture, and negotiations are reportedly progressing rapidly.
Bitcoin mining company TeraWulf's net loss widened to over $79 million in the first half of the year
According to The Block, Bitcoin mining company TeraWulf's latest financial report shows that its net loss widened to over $79 million in the first half of this year due to continued investment in high-performance computing and mining operations. Operating costs (minus depreciation) were approximately $22 million, a quarter-on-quarter increase from $13.9 million in the second quarter of 2024. Its stock price is currently down nearly 4% after opening up nearly 3%.
“TeraWulf will continue to execute on its strategy to develop scalable, sustainable digital infrastructure to support high-performance computing hosting and proprietary Bitcoin mining,” said Paul Prager, CEO of TeraWulf.
Linea releases its product roadmap for the next nine months
Linea has released its product roadmap for the next nine months, focusing on four key areas of progress:
- Performance: Scaling Ethereum by reaching 0.5 gGas/s (~5,000 TPS) and achieving proof-of-stake on Ethereum by Q2 2026.
- Ethereum compatibility: Ensure compatibility with Ethereum, follow the L1 fork, and actively contribute to the ETH economy through the destruction mechanism, with the main goal of achieving Type-1 zkEVM by Q1 2026.
- Trust Minimization: Reaching Phase 1 in Q4 2025, eliminating single points of failure and trust assumptions, and decentralizing block construction to a set of permissioned nodes in 2026.
- Capital Efficiency: Starting with the launch of Native Yield in Q4 2025, Linea will become the best place to stake ETH capital, providing strong risk-adjusted returns.
Binance Alpha to List Xeleb Protocol (XCX) on August 11th
According to the official announcement, Binance Alpha will list Xeleb Protocol (XCX) on August 11. Eligible users can claim the airdrop using Binance Alpha Points on the Alpha event page, which will be available once trading opens.
According to SlowMist, a community member was recently asked to clone a GitHub code repository locally during an interview with a Web3 team claiming to be from Ukraine, and the member wisely refused.
Analysis revealed that the repository contained a backdoor that, if cloned and executed, would load malicious code, install malicious dependencies, steal sensitive browser and wallet data (such as Chrome extension storage and possible mnemonic phrases), and exfiltrate it to the attacker's server. This is a scam using job offers as bait. Be vigilant and never run code from unverified sources.
Binance: Hold at least 200 Alpha Points to receive 510 BSU tokens airdrop
According to Binance's official announcement, trading for the Baby Shark Universe (BSU) Alpha token will begin at 5:00 PM (UTC+8) on August 9th. After trading begins, users with at least 200 Binance Alpha Points will be eligible to claim an airdrop of 510 BSU tokens on a first-come, first-served basis. The minimum number of points will automatically decrease by 15 every hour until the reward pool is fully distributed. Claiming the airdrop will cost 15 Binance Alpha Points. Users must confirm their claim on the Alpha event page within 24 hours; otherwise, their claim will be deemed forfeited.
Important data
According to on-chain analyst Yu Jin, over 1.035 million ETH (worth $4.167 billion) has been hoarded by multiple unknown whales and institutions through exchanges and institutional platforms in the month since July 10th. The price of ETH also rose 45% during that month, from $2,600 to $4,000.
Most of the ETH hoarded by these addresses should belong to institutions or US-listed companies that hold ETH reserves (excluding SBET, whose address is known). The average price of these hoarded ETH is approximately US$3,546.
According to SoSoValue data, yesterday (August 8, Eastern Time), the total net inflow of Bitcoin spot ETFs was US$404 million.
The Bitcoin spot ETF with the largest single-day net inflow yesterday was Blackrock ETF IBIT, with a single-day net inflow of US$360 million. Currently, the total net inflow of IBIT in history has reached US$57.786 billion.
The second is Fidelity ETF FBTC, with a single-day net inflow of US$30.4889 million. The current historical total net inflow of FBTC has reached US$12.028 billion.
As of press time, the total net asset value of the Bitcoin spot ETF was US$150.697 billion, the ETF net asset ratio (market value as a percentage of the total market value of Bitcoin) reached 6.48%, and the historical cumulative net inflow has reached US$54.426 billion.
According to SoSoValue data, yesterday (August 8, Eastern Time), the total net inflow of Ethereum spot ETFs was US$461 million.
The Ethereum spot ETF with the largest single-day net inflow yesterday was Blackrock's ETF ETHA, with a single-day net inflow of US$255 million. Currently, ETHA's total historical net inflow has reached US$9.848 billion.
The second is Fidelity ETF FETH, with a single-day net inflow of US$132 million. The current historical total net inflow of FETH has reached US$2.375 billion.
As of press time, the total net asset value of the Ethereum spot ETF was US$23.384 billion, the ETF net asset ratio (market value as a percentage of Ethereum's total market value) reached 4.77%, and the historical cumulative net inflow has reached US$9.816 billion.
ETH fell back after breaking through $4,200, with a daily increase of 3.94%.
OKX market data shows that ETH briefly broke through $4,200, reaching a high of $4,214.96. It is currently trading at $4,169.25 per coin, with a daily increase of 3.94%.
According to on-chain analyst Ember, the whale with a 75% win rate in four ETH battles did not add to their positions after their positions were liquidated this afternoon, but instead closed all of them. This short position resulted in a loss of $20.73 million USD.
According to previous news , a whale was liquidated in the early morning and his short position of more than 10,000 ETH was forcibly closed, and the current loss is about 19 million US dollars.
An address that held ETH for 8 years sold 3280 ETH 2 hours ago, with a return rate of 288 times
According to on-chain analyst Ember, an address that held ETH for eight years sold 3,280 ETH ($13.38 million) two hours ago. This address turned $50,000 into $14.43 million (288x) over eight years.
In early 2017, he withdrew and accumulated 3,865 ETH from Kraken, valued at $50,000 at $13. He subsequently sold 565 ETH, holding most of the remaining ETH until he sold it eight years later for $4,079.
An ancient whale who had hoarded ETH for 9 years sold 4,723 ETH at an average price of $7.7
According to on-chain analyst Ember, an ancient whale who hoarded 14,945 ETH at $7.79 nine years ago sold ETH at $4,005 last December and sold ETH again today. Both sales were at prices above $4,000.
- Received and hoarded 14,945 ETH from ShapeShift 9 years ago (2016). At that time, the price of ETH was only $7.7, and these ETH were worth $115,000.
- In December of last year (2024), ETH sales began: 7,808 ETH were sold at $4,005 for 31.27 million USDT;
- Three hours ago, it continued to sell 4,723 pieces at a price of $4,141.
Institutional holdings
Harvard Management Company, which manages Harvard University's $53 billion endowment, held approximately 1.9 million shares of IBIT, valued at approximately $116.6 million, as of June 30, according to documents filed with the U.S. Securities and Exchange Commission (SEC). This made it the fund's fifth-largest investment during the period, behind Microsoft, Amazon, travel technology company Booking Holdings, and Meta, and slightly ahead of its investment in Google's parent company, Alphabet.
According to PR Newswire, Thumzup Media Corporation (NASDAQ: TZUP), a publicly traded social media marketing company, announced the launch of an offering of shares with a par value of $0.001 per share ("Preferred Shares"). The net proceeds from this proposed offering are intended to be used for the exploration of cryptocurrency and mining equipment, working capital, and general corporate purposes. The offering is subject to market conditions, and there can be no assurance as to whether or when the offering will be completed, or as to the actual size or terms of the offering. Dominari Securities LLC served as the exclusive placement agent for the offering.
