Author: TechFlow
Market Dynamics Yesterday
US Initial Jobless Claims for the Week Ending August 2nd at 226,000, Expectation at 221,000
According to Jin10 data, US initial jobless claims for the week ending August 2nd were 226,000, with expectations of 221,000, and the previous value was revised from 218,000 to 219,000.
Trump: Reciprocal Tariffs to Take Effect at Midnight Tonight, Billions of Dollars Will Begin Flowing into the US
On August 7th, according to Jin10 data, US President Trump posted on social media: "Reciprocal tariffs will take effect at midnight tonight, and billions of dollars will begin flowing into the US, mainly from countries that have taken advantage of the US for years. The only thing that can stop America's greatness is a radical left-wing court that wants to see our country fail."
Trump Signs Executive Order Allowing 401(k) Accounts to Invest in Digital Assets and Other Alternative Assets
According to Wall Street News, the White House announced that President Trump has signed an executive order allowing 401(k) accounts to access alternative assets such as private equity, real estate, and digital assets to enhance returns and diversify risks.
The executive order instructs the US Securities and Exchange Commission (SEC) to modify relevant regulations to facilitate alternative asset investments for participant-directed fixed-contribution retirement savings plans. Previously, such retirement plans typically invested in relatively safe stocks and bonds.
Analysts believe this move will inject substantial capital into the private equity industry in need of funds, opening the door to approximately $12.5 trillion in retirement account funds, and is an important part of Trump's efforts to promote the cryptocurrency industry.
Trump Announces Nomination of Stephen Miran as Federal Reserve Board Member Early This Morning
On August 8th, according to Jin10 data, US President Trump stated: "I am very honored to announce that I have chosen the current Chairman of the Economic Advisory Committee, Stephen Miran, to fill the recently vacant seat on the Federal Reserve Board, with a term until January 31, 2026. Meanwhile, we will continue to seek a long-term replacement for the Federal Reserve position. Stephen Miran holds a Ph.D. in Economics from Harvard University and performed excellently in my first administration. He has been with me since the beginning of my second term, and his expertise in economics is unparalleled - he will do an excellent job. Congratulations to Stephen Miran."
Vitalik Supports Ethereum Reserve Company Development but Warns of Excessive Leverage Risks
According to Cointelegraph, in an interview on the Bankless podcast, Ethereum co-founder Vitalik Buterin expressed support for the development trend of Ethereum reserve companies, believing it helps expand the ETH investor base, but also warned of risks from excessive leverage.
Vitalik emphasized the need to avoid reserve companies evolving into over-leveraged games to prevent forced liquidation due to price drops, which could trigger a chain reaction of token price collapse and reputation damage.
Pump.fun Announces Establishment of Glass Full Foundation to Inject Liquidity into Ecosystem Tokens
According to the official announcement, Pump.fun announced this morning the establishment of the Glass Full Foundation, which aims to accelerate the development of the most vibrant and promising communities in the Pump.fun ecosystem and inject substantial liquidity into ecosystem tokens. It has already provided initial support for multiple projects and will continue to deploy funds.
Chainlink to Establish LINK Token Strategic Reserve Using Protocol Revenue
According to the official announcement, the Chainlink Foundation today announced the launch of the Chainlink Reserve Program, aimed at establishing a strategic reserve of LINK tokens through on-chain and off-chain revenues. The reserve has initially accumulated over $1 million worth of LINK tokens and will automatically convert enterprise service revenues and on-chain service fees into LINK tokens through a Payment Abstraction mechanism. The foundation stated that the reserve plan will not make withdrawals in the coming years.
Ripple Plans to Acquire Stablecoin Platform Rail for $200 Million
According to Investing, Ripple plans to acquire the stablecoin platform Rail for $200 million.
Ant Digital: Self-Developed Blockchain Jovay Expected to Launch on Mainnet in September, No Token Issuance
According to Jin10 data, Ant Group Vice President and Ant Digital Blockchain Business President Bian Zhuoqun revealed today that the company's self-developed blockchain is planned to officially launch in September 2025, capable of processing real transactions. On April 30th, Ant Digital released Layer 2 blockchain Jovay and clearly stated that Jovay is a compliant institutional-level blockchain without token issuance. Bian Zhuoqun stated that Ant Digital is committed to becoming a gateway connecting Web2 and Web3, providing more trusted assets for Web3 and introducing more compliant funds for Web2. She cited data predicting that the global tokenization market size could reach $16 trillion by 2030. Currently, Ant Digital is expanding its RWA asset portfolio in areas such as new energy, computing power, and finance.
Bit Digital Subsidiary WhiteFiber Completes IPO, Raising $159.4 Million
According to Bloomberg, Bit Digital's subsidiary WhiteFiber completed its initial public offering on August 7th. The company issued 9.4 million common shares at $17 per share (the upper limit of the market pricing range), raising a total of $159.4 million.
NASDAQ-Listed Fundamental Global Seeks to Raise Up to $5 Billion, Primarily for Ethereum Acquisition
NASDAQ-listed Fundamental Global Inc has submitted an S-3 registration statement to the US Securities and Exchange Commission, seeking to issue securities with a total amount of up to $5 billion in batches. The company plans to use the majority of the net proceeds from this common stock issuance to acquire Ethereum (ETH), with the remaining funds to be used for working capital needs, general corporate purposes, and operating expenses.
Market Dynamics
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