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The founder of the Liebit mining pool, Jiang Zhuoer, stated that his previous bearish judgment on the market was incorrect. He currently has a 90% confidence that the bear market has ended and believes that this round of ETH will become the main driving force of the bull market, potentially outperforming BTC.In terms of operations, Jiang Zhuoer mentioned that the ETH sold previously at $1738 to $1931 has been bought back at $2100 with a stop-loss, and he sold 50% of the spot when ETH rose to $2525 to test the peak, with a stop-loss set at $2550. For funds that are still in a state of missing out, Jiang Zhuoer plans to buy in fully if BTC falls to the range of $67,000 to $72,000; otherwise, he will buy at the current price by the end of October at the latest. He believes that compared to predicting the market, execution and risk control are more important in trading, which means "hold on if you're right, cut losses if you're wrong."

According to on-chain analyst Ai Yi's monitoring, the entity associated with bit (0x6c8...d84f6) has taken profits for the first time in four months, reducing its position by 38,000 ETH and realizing a profit of 9.407 million USD.Currently, four addresses still hold a long position of 82,000 ETH, with unrealized profits exceeding 20 million USD.

According to the Associated Press, drug enforcement agencies from Cambodia and the United States announced on Friday that they have dismantled a cryptocurrency money laundering network utilized by the Sinaloa drug cartel from Mexico.The operation was conducted in collaboration between Cambodian drug enforcement police and the U.S. Drug Enforcement Administration, seizing approximately $7 million in cryptocurrency related to the Sinaloa drug cartel, arresting multiple individuals, and confiscating assets, drug production laboratories, and storage facilities.

Uniswap founder Hayden posted on the X platform that the tokenized stock trading volume on Robinhood has reached $1 billion for the first time, and $1 trillion in trading volume is on the way.

According to market news, Strive's SATA fundraising amount is expected to be sufficient to purchase more than 160 bitcoins.

The "whale" has set "10 big goals" and will continue to update its trading trajectory and insights on the X platform tonight. It stated that at the position of 72500, it had considered re-entering a long position and had placed a limit order between 70500 and 71500, but it did not get filled. "I wanted to re-enter the long position that I had previously closed. At that time, I placed a long order in advance between 70500 and 71500, while also placing a short order near 76000. My expectation was that if it first retraced to 70500–71500, I would re-enter the long position; if it did not retrace and quickly surged to around 76000, I would make a correction after a round of upward movement. In the end, the long orders below did not get filled, and after the short order at 76000 was filled, the price continued to rise to above 79000.So looking back, the real mistake in this segment was not the medium to long-term direction, but underestimating the strength of this upward trend and trying to bet on a correction too early."Despite the recent loss on a short position, this whale still stated, "Currently, there is still a profit of around 70 million."

According to The Defiant, Kieran Warwick, co-founder of the Web3 game project Illuvium, stated that the studio has significantly reduced costs over the past six months, and the team recently agreed to further salary cuts. According to him, the adjusted funds can support operations for more than 12 months. He did not disclose the extent of the salary cuts, the number of remaining employees, or the cash reserves.Warwick mentioned that the existing team is almost entirely focused on the MMO game Overworld, with most members having worked together for over three years. In addition to the MMO, there are plans to launch the Celebrations series of Illuvium Beyond, Beyond Chaos, Primal Tactica developed by independent studios, and Loadout, which will allocate tokens for staking contracts, within the year. Primal Tactica will participate in Steam Next Fest in October, and Illuvium will receive most of the revenue.Data from DefiLlama shows that Illuvium's protocol fees and revenue over the past 30 days are approximately $9,781, with a treasury of about $2.78 million. ILV is priced at approximately $3.35, with a market capitalization of about $27.74 million.

Tom Lee posted on platform X that Fundstrat Direct's "Best 10 Trading Days Rule" shows that all of Bitcoin's gains come from the best-performing 10 trading days: these 10 trading days saw a cumulative increase of 162%, while excluding them resulted in a decline of 14%. This week is one of those best trading days, making it more suitable to hold Bitcoin.

BitMine Chairman Tom Lee published a post listing 17 large-cap stocks (with a market capitalization of over $2 billion) that have a high correlation with cryptocurrencies, for stock investors seeking crypto exposure.Among them, BMNR has the highest correlation with ETH at 80%, followed by COIN (74%); MSTR has the highest correlation with BTC at 78%, followed by COIN (74%).Tom Lee stated that he expects ETH to outperform BTC in this cycle, driven by tokenization and AI applications, believing that this logic is far more important than the factors that have historically driven ETH's outperformance in cycles.

The head of Galaxy Research posted on platform X stating that the U.S. Securities and Exchange Commission has proposed the Regulation Crypto Assets, abbreviated as Reg Crypto. This proposal aims to establish a legal pathway for the issuance of certain tokens to the U.S. public and to set up a mechanism for terminating investment contracts. The scope is limited to crypto assets that are not themselves securities but have been issued or sold as part of an investment contract; tokenized stocks, bonds, and arrangements that bundle tokens with equity or other securities are not included in the framework.The proposal sets four stages: financing, disclosure, construction, and exit. A one-time startup exemption allows issuers to raise up to $5 million over a maximum of four years; a higher exemption limit set by Regulation A allows for raising $20 million or $75 million within 12 months.Related financing must undergo qualification review by the U.S. Securities and Exchange Commission and continuous disclosure, with the investment cap for unaccredited investors being the greater of 10% of their annual income or net worth. Issuers must also disclose the token supply and release plan, minting and burning mechanisms, governance and smart contract permissions, source code, as well as project construction commitments and progress.When the issuer completes or permanently ceases relevant construction obligations, makes no new construction commitments, and submits a transition report, the related investment contracts will be deemed terminated, and the crypto assets will no longer be subject to securities laws under that investment contract. Issuers that do not use the above financing exemptions can also utilize this safe harbor. The U.S. Securities and Exchange Commission estimates that approximately 475 issuers will use the investment contract safe harbor each year, with about 130 issuers utilizing the two new exemptions. Qualified issuances may not be considered restricted securities and can be resold immediately without contractual restrictions.The proposal will also exclude initial offerings and certain secondary transactions within its scope from state registration and qualification requirements, but it does not involve exchanges, brokers, dealers, custodians, nor is it an independent innovation exemption for tokenized securities and on-chain transactions. The comment period is 60 days after publication in the Federal Register. U.S. Securities and Exchange Commission Chairman Paul Atkins and Commissioners Hester Peirce and Mark Uyeda have all issued supportive statements.

According to Decrypt, Michael Selig, the chairman of the Commodity Futures Trading Commission (CFTC), stated that if the Clarity Act continues to be stalled due to Democratic obstruction, the CFTC will use its existing authority to begin establishing a regulatory framework for the cryptocurrency market and has instructed staff to expedite the formal rule proposal.Selig has asked staff to explore incorporating the digital asset market structure into CFTC rules, which may include both existing CFTC-registered entities and currently unregistered cryptocurrency exchanges under its regulatory scope.Rules tailored for digital assets may allow for leveraged and margin trading. Bitcoin ETFs saw a net inflow of $606 million, marking a new single-day high since May 1; Ethereum ETFs had a net inflow of $219 million, reaching a new high since September 2025. In the past 24 hours, the amount of short liquidations in the cryptocurrency market exceeded $1.2 billion, approaching $5 billion over the past two days.

The preliminary value of the S&P Global Composite PMI for the United States in August is 56, expected to be 53.9, and the previous value was 54.5.

Circle CEO Jeremy Allaire stated that the new proposed accounting rules will provide a significant strategic boost to the adoption of digital dollars like USDC.He mentioned that, combined with the GENIUS Act, the FASB rules will enable USDC to be widely used by global enterprises and financial institutions, which is of great strategic importance.

BitMart announced that it is developing a potential restructuring plan as an alternative to a complete shutdown. This plan may include a phased restoration of some operations under an orderly arrangement and distribution to creditors, but further legal, financial, operational, and regulatory assessments are still needed.BitMart has appointed White & Case as its restructuring legal advisor to assist in evaluating feasible options and developing a framework for restructuring and phased restoration of operations. BitMart stated that it is currently working with advisors to formulate a roadmap and will strive to provide further updates by September 9, 2026.

According to Caixin, Star Bridge Capital (SBCFX) experienced an abnormal liquidation incident in London gold trading. After the incident, the Hong Kong office of the platform was empty, and some investors faced huge losses. According to multiple investors, their automated trading in London gold (XAUUSD) derivatives through the Star Bridge Capital platform encountered extreme abnormal trading on the evening of August 19: the system automatically generated huge reverse short positions within just 1 to 3 seconds, followed by a rapid rise in international gold prices, leading to collective liquidations of accounts, with some accounts' funds reaching zero, and some even incurring negative debts.The so-called London gold liquidation refers to the risk of trading in the opposite direction of gold price movements, and due to leverage and other reasons, resulting in excessive losses, where the available margin in the investor's account is exhausted, falling below the maintenance margin ratio, leading to forced liquidation by the platform and total loss of principal.Affected investors estimate that this incident involves about 2,000 to 3,000 people, including a large number of mainland investors. Currently, some investors have reported to the Hong Kong police and requested the platform to refund 70% of the principal according to the previously promised "maximum loss of 30%" rule.Some investors claim that Star Bridge Capital offers leverage of up to 500 times, and some funds were deposited via USDT stablecoins, increasing the difficulty of tracking funds. Public information shows that Star Bridge Capital's business scope covers foreign exchange, commodities, indices, cryptocurrencies, etc., and it claims to be a licensed and compliant international trading platform.

Crypto KOL Ansem stated in a podcast that Robinhood is a potential dark horse in this market cycle, due to its public support for on-chain activities (including meme coins and RWA) and its rapid listing of tokens.Ansem believes that Robinhood's proactive stance may attract more retail liquidity and innovative projects, highlighting the traditional financial platform's quick adaptation to the crypto space.

The Central Cybersecurity and Informatization Commission issued the "Action Plan for Promoting High-Quality Development of Internet and Information Enterprises (2026-2030)."It mentions strengthening the construction of cyber rule of law. Actively carry out forward-looking research on legislation in the field of internet and information. Accelerate the legislative process in emerging areas such as artificial intelligence, anti-cyber violence, digital economy, online platforms, and blockchain.Promote the revision of the "Internet Information Service Management Measures," improve the legal system for internet information service management, "self-media" management, and algorithm governance. Advance the formulation of the Telecommunications Law, Cybercrime Prevention Law, and Cybersecurity Level Protection Regulations, and improve the supporting regulations for the "Regulations on the Protection of Minors Online" and "Regulations on the Management of Cyber Data Security."Standardize administrative inspections involving internet and information enterprises, minimizing interference with the normal production and operational activities of internet and information enterprises. Improve supervision and law enforcement measures that adapt to the new characteristics of internet development governance, and severely crack down on illegal and irregular activities online.

Citi stated that it remains optimistic about the stock market performance and advises investors to consider increasing equity asset allocation if the market experiences a pullback before the U.S. midterm elections. It currently maintains an "overweight" view on U.S. stocks, believing that corporate earnings expectations are improving and the market liquidity environment is becoming more accommodative. Despite recent concerns related to artificial intelligence, there are no significant risk signals in the overall market.Citi continues to be optimistic about the U.S. stock market and believes that sector rotation may limit the market's downside potential. Historical data shows that the market often experiences a strong year-end performance following a weak phase before the U.S. midterm elections, suggesting that there may be opportunities to buy on dips currently.

On August 21, the GATE ZONE fireside chat event took place in the Summer Bay area of Coinfest Asia, where Gate Head of Global Partnerships Jason Fung shared insights on the theme "Predicting the Biggest Market Opportunities." He discussed the competitive landscape of prediction markets, user-created markets, the Builder ecosystem, and future market opportunities. Jason Fung stated that as on-chain prediction markets continue to develop, industry competition will no longer focus solely on liquidity and trading volume. Instead, lowering the barriers to market creation, diversifying market types, and enabling more users to participate in market building will become important directions for the future development of prediction markets.Regarding the recent launch of the event contract Builder by Gate DexBuilder, Jason Fung mentioned that enabling users to create markets independently is an important step towards the openness of prediction markets. By lowering the barriers to creating and launching event markets, users can quickly build markets around popular events and explore more niche themes and potential demands, thereby driving the evolution of prediction markets from a product form dominated by a few platforms to a more open market ecosystem.Jason Fung believes that there are still many opportunities in prediction markets that have not been fully explored, and their application scope is expected to continue extending from popular fields such as politics, sports, crypto, AI, and entertainment. As more developers and entrepreneurs enter this space, the Builder ecosystem, market diversity, and user experience will become important driving forces for industry development, and on-chain event markets are expected to further expand from early user groups to a broader user market.

Cryptocurrency analyst Darkfost stated that the apparent demand for Bitcoin in 2026 reached a record of 25,000 coins, indicating that the actual spot buying volume exceeds the newly mined coins, with market buying power stronger than supply.Apparent demand is calculated by subtracting the daily change in supply that has not been used for over a year from the daily block subsidy, used to measure whether structural accumulation can effectively absorb new supply.