276,310,577 USDC Transfer... Anonymous → Binance
According to Whale Alert, 276,310,577 USDC was transferred from an anonymous address to a Binance address. This amounts to $280 million.
Analysis: "US Base Rate Cut Will Directly Hit Circle's Earnings"
Dragonfly Capital investor Omar shared on X that the US base rate cut would directly impact Circle's (ticker CRCL) earnings. He stated, "A 100bp (1 percentage point) rate cut could reduce Circle's annual total revenue by $618 million (-23%) and total operating profit by $303 million (-30%). To offset this earnings decline, they would need to increase USDC circulation by an additional $28 billion, which is 44% of the current circulation of $64 billion. This explains why Circle is rushing to sell a large $1.5 billion stock and launch new transaction fee-based services to generate additional revenue."
Foreign Media: "Ethereum Investors Betting Overly Optimistically on US Rate Cut"
Cointelegraph reported, citing multiple analysts, that Ethereum (ETH) investors are betting too optimistically on the US rate cut. Swyftx analyst Pav Hundal said, "The current market movement is problematic due to expectations of Fed rate cuts. The market seems to have already priced in these expectations, which is when one should be most cautious." Charles Edwards, founder of Capriole Investments, noted, "If unexpected variables prevent the Fed from cutting rates, liquidity could shrink and cash flows could stop. However, the bull market will be maintained as long as institutional demand exceeds supply." The media added that while most experts forecast a September rate cut, some remain cautious about the Fed's stance.
Coinbase Loses $300,000 Due to Smart Contract Approval Mistake
The Block reported that Coinbase lost approximately $300,000 in token fees during interaction with a smart contract. This occurred when tokens were mistakenly approved for a contract not intended for token approval. An MEV bot exploited this approval to steal tokens from the Coinbase wallet. Coinbase stated, "This was a temporary issue due to internal wallet configuration errors and did not affect customer funds."
Coinbase Developers: "AI Agents Will Be Ethereum's Largest Users"
Cointelegraph reported that Coinbase developers predict AI agents will become Ethereum network's largest users. Coinbase developers Kevin Leffew and Lincoln Murr shared in an Ethereum Foundation contribution that they developed a protocol allowing AI agents to transfer stablecoins without human intervention by combining the rarely used HTTP 402 code and Ethereum Foundation's EIP-3009 improvement proposal.
Anonymous Whale Deposits $26.45 Million SOL to Exchanges
LookOnChain reported that an anonymous whale address (starting with CMJiHu) deposited 130,000 SOL ($26.45 million) to Binance, Bybit, OKX, and Gate.io three hours ago.
Ash Crypto: "ETH Will Sharply Decline"
Crypto influencer Ash Crypto, with 1.8 million followers, posted on X: "I really don't want to say this, but remember that ETH can sharply decline at any time as a correction is scheduled. Whales and market makers are currently liquidating short positions, but will soon liquidate long positions. I urge against using leverage in trading."
Analysis: "Crypto-Holding Companies Will Face High Asset Management Fees"
BitMEX Research diagnosed that publicly traded companies adopting cryptocurrency reserve strategies might harm shareholder returns due to continuously high fees paid to asset managers. They analyzed that Columbus Circle Capital (ticker BRR) charges 5% of issued shares and part of Bitcoin revenue for a $750 million transaction.
SpaceX's Bitcoin Holdings Exceed $1 Billion with Bitcoin's Price Rise
The Block reported that SpaceX, Elon Musk's space company, has Bitcoin holdings exceeding $1 billion. According to ARKM data, SpaceX currently holds 8,285 BTC, valued at $1.02 billion. Tesla, meanwhile, holds 11,509 BTC (approximately $1.42 billion).
While BTC Hits All-Time High... Korea's Holdings Are 1/16 of US
Maeil Economic News reported that Bitcoin holdings in Korea and the US differ by nearly 16 times. After surveying cryptocurrency exchanges, government and corporate holdings, and ETFs, they found the US holds 3,587,163 BTC, while Korea holds only 218,076 BTC, which is just 6.08% of the US holdings.
Lost Ethereum Now Worth 1.6 Trillion Won?... "Frustrating"
Decrypt reported that the lost Ethereum of LHV Bank (Estonia's largest bank) founder Rain Lohmus has exceeded $1 billion (approximately 1.6 trillion won) in value. He purchased these tokens during Ethereum's presale in 2014 but lost access to the wallet after misplacing the private key.
Top 3 Futures Exchanges BTC Perpetual Long/Short Ratio
Based on open interest, the recent 24-hour BTC perpetual long and short position ratios at the world's top 3 cryptocurrency futures exchanges are as follows:
Overall Exchanges: Long 48.96% / Short 51.04%
1. Binance: Long 48.45% / Short 51.55%
2. Bybit: Long 49.56% / Short 50.44%
3. Gate.io: Long 48.67% / Short 51.33%
Upbit Singapore Lists KAIA
Upbit Global announced through its official X that it will list KAIA on the Singapore SGD market.
Bithumb Service Inspection on 8/17
Bithumb announced that it will conduct a full service inspection for internal system upgrade from 1 PM to 7 PM on August 17th.
BTC Falls Below $123,000
According to Coinness market monitoring, BTC has fallen below $123,000. On the Binance USDT market, BTC is trading at $122,994.01.
BTC Falls Below $122,000
According to Coinness market monitoring, BTC has fallen below $122,000. On the Binance USDT market, BTC is trading at $121,910.77.
