News linked to this event type.
According to Chaoxiang Research, Goldman Sachs' research report dated August 24, 2026, indicates that cryptocurrency trading volume fell 30% in July and 21% in August, declining for 10 consecutive months, a duration that exceeded the median of the previous five cycles. Trading volume in this cycle has dropped 75% from its peak, while cryptocurrency market capitalization rebounded 21% over the past week. Goldman Sachs suggests a turning point in trading volume may emerge if market cap remains at current levels. On the regulatory front, 35% of institutional investors cite regulatory uncertainty as the biggest hurdle, while 32% identify regulatory clarity as the primary catalyst. The SEC recently proposed an innovation exemption framework. In 2026, over 10 additional digital asset companies received bank charters from the OCC, and more than 15 crypto firms have already been incorporated into the federal banking system. Crypto companies reduced expenses by an average of approximately 5% in 2026, lifting operating margins by roughly 5.8 percentage points. Goldman Sachs remains cautiously optimistic for the second half of the year, with sector valuations currently positioned at the 30th percentile over a five-year period. Key recommendations include COIN (target price $196), HOOD ($124), IBKR ($114, featured on Goldman Sachs' Conviction List US), and FIGR ($43). The investment logic diverges across the three sectors: traditional brokerages are poised for a September reversal, prediction markets are driven by the election cycle, and crypto equities benefit from a triple catalyst of market cap recovery, cost reductions, and regulatory reform.
According to Reuters, India plans to launch its first tokenized corporate bond in September, issued by state-owned power financing company REC, with a total value of less than 5 billion Indian rupees (approximately $57 million). The pilot will utilize blockchain or a distributed ledger to record the issuance, holding, trading, and settlement of the bonds, enabling near-instantaneous trade settlement. According to people familiar with the matter, the Indian central bank and the securities market regulator are jointly advancing the relevant framework; investors must hold both a wholesale central bank digital currency (CBDC) wallet provided by banks and the new electronic securities wallet “DEMAT 2.0” to participate. The bond will feature an initial three-month lock-up period, with the pilot open to a select group of investors. Exchanges are expected to establish a secondary market for the bonds by December.
According to an official Binance announcement, Binance Futures will list U-margined perpetual contracts for SKUUUSDT, SKDDUSDT, RAMUSDT, DJTUSDT, and MRNAUSDT in batches on August 25 between 17:00 and 17:20 (UTC+8), with underlying assets including the SK Hynix Leveraged ETF, DRAM-themed ETF, Trump Media & Technology Group (DJT), and Moderna (MRNA) — traditional financial assets. All the aforementioned contracts settle in USDT, support 24/7 trading, multi-asset mode, and leverage of up to 20x. Funding rates are settled every 8 hours, with upper and lower limits set at +2% and -2%, respectively.
According to Bitcoin.com, Bitwise Chief Investment Officer Matt Hougan stated that the bullish thesis for 2026 is more fundamentally grounded than the crypto market cycles of 2014, 2018, and 2022, primarily driven by five structural changes: the advancement of regulatory frameworks, the scaling of stablecoin adoption, the tokenization of real-world assets, protocol tokens generating genuine revenue supported by buyback and burn mechanisms, and the demand for currency debasement triggered by expanding sovereign debt. Hougan noted that the total stablecoin market capitalization surpassed $300 billion by mid-2026, with steady usage across trading, payments, cross-border remittances, and settlements; meanwhile, asset tokenization is progressively transitioning from experimental phases into regulated financial infrastructure. He also highlighted Hyperliquid as a prime example, noting that the protocol generated over $800 million in revenue last year, allocating roughly 99% of it toward buybacks and burns of the HYPE token. On Bitcoin, Hougan suggested that rising government borrowing levels could further cement its role as a hedge against currency debasement, though he emphasized that the associated valuation models represent scenario analyses rather than definitive price forecasts.
Odaily News: Dunamu, the operator of Korean cryptocurrency exchange Upbit, has responded to rumors of a US listing, stating that the company has indeed been in contact with the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). However, it has not yet confirmed plans for a US listing, nor has it converted its financial reporting standards to U.S. Generally Accepted Accounting Principles (US GAAP).Dunamu stated that it is currently working with Naver Financial to complete a share swap by December 31. The two companies are valued at 15 trillion KRW and 5 trillion KRW respectively, with a swap ratio of 1 share of Dunamu for approximately 2.54 shares of Naver Financial. Upon completion of the transaction, both parties plan to establish an IPO committee within one year and proceed with listing efforts.Market observers believe Nasdaq could be a potential listing venue, mainly because Naver is already listed on the Korean exchange. If the two companies are subsequently listed on a secondary exchange in Korea as subsidiaries, they may face regulatory restrictions on "parent-subsidiary dual listings." If Dunamu ultimately pursues a US listing, it may do so via American Depositary Receipts (ADRs). The Korean legal entity and Upbit business would remain intact, and services such as KRW deposits and withdrawals for users are not expected to be directly impacted. (Etoday)
According to Bitcoin News, which cited an opinion piece from The Wall Street Journal, legendary investor Stanley Druckenmiller criticized U.S. Treasury Secretary Scott Bessent's proposal to increase the size of a single long-term Treasury bond repurchase transaction from $2 billion to at least $4 billion, arguing that the measure could overstep its bounds in liquidity management and cross into intervention aimed at suppressing long-term yields. Druckenmiller pointed out that with inflation still running above target, the U.S. fiscal deficit accounting for roughly 6% of GDP, and federal debt exceeding $40 trillion, rising yields may accurately reflect the bond market's rational pricing of deteriorating U.S. fiscal conditions. He warned that if markets believe the Treasury is defending a specific yield level, traders could repeatedly test the limits of government intervention, forcing the repurchase volume to keep expanding. He also maintained that the Treasury's strategy of buying back long-term Treasuries while simultaneously issuing short-term T-bills effectively strips duration risk from the market, closely resembling a small-scale quantitative easing program executed directly by the Treasury. His advice is to allow the bond market to determine the government's financing costs, and to resolve fundamental fiscal imbalances through deficit reduction, entitlement reform, and enhanced debt management.
BitMEX 联合创始人、Maelstrom CIO Arthur Hayes 发文称，美国财政部长 Scott Bessent 为压低长期美债收益率，可能扩大国债回购、增加短期国库券发行，并动用财政部一般账户（TGA）资金释放流动性。Hayes 认为，此类“主动财政发行”操作与耶伦在 2023 年通过短债发行引导货币市场基金资金离开美联储逆回购工具的做法类似，曾带动风险资产及比特币上涨。 Hayes 指出，美国 10 年期国债收益率接近或高于 5% 将显著抬升居民按揭、企业融资等成本，或促使财政部进一步干预债市。他预计，若美元流动性持续扩张，比特币及加密市场有望受益，但期间仍可能出现剧烈回调。
EntropyIO announced the completion of a $14 million funding round, led by Ribbit Capital, along with $40 million in HYPE staking support. The first batch of markets has gone live on Hyperliquid.EntropyIO stated that it has launched the first liquid Anthropic trading market and plans to further expand into assets such as Pre-IPO startups, computing resources, public companies, and global indices to enable around-the-clock trading.Team members come from Citadel Securities, Optiver, Polymarket, and Millennium, and have developed a liquidity-weighted oracle that dynamically adjusts external oracle price weights based on executable market depth, aiming to improve price discovery and liquidity for new asset classes.
According to Reuters, the U.S. SEC is investigating AI hedge fund Situational Awareness's trading activities and high-leverage positions during the market turmoil in July, and has issued subpoenas to Wall Street banks including Goldman Sachs, JPMorgan, Citigroup, and Bank of America, requiring them to provide information related to the fund's trades and financing. Situational Awareness was founded by former OpenAI researcher Leopold Aschenbrenner, who previously worked at FTX Future Fund, with assets under management briefly exceeding $20 billion. In July, the fund suffered a monthly loss of approximately 67% due to declines in AI and chip stocks, and was subsequently forced to sell most of its public equity portfolio to Citadel.
Alibaba's video large model Wan3.0 officially launches, as Nvidia holds talks to invest in Perplexity, valued at over $30 billion. Xiaomi releases the Xuanjie O3 processor built on a 3nm process, and smart ring maker Oura plans to raise up to $3 billion through an IPO.
An article in the People's Daily by Zhong Cai points out that macroeconomic policies must step up efforts to improve effectiveness, continuing to implement a more proactive fiscal policy and a moderately loose monetary policy. The article emphasizes accelerating the pace of fiscal spending and bond fund utilization, while maintaining ample liquidity to lower financing costs.
JPMorgan Chase and Santander will lead financing of up to $15 billion for Argentina's liquefied natural gas project.
Sources said smart ring maker Oura plans to raise up to $3 billion through an initial public offering (IPO).
NVIDIA has announced a strategic investment in AI chip startup Lancium, and the two parties will deepen their collaboration in the field of high-performance computing.
Odaily News – Virtuals Protocol has released a comprehensive operational guide for launching AI Agent tokens on Solana, covering processes such as identity setup, immediate or scheduled listing, tokenomics, and advanced configuration. The guide introduces the Automated Capital Formation (ACF) mechanism, which has raised over $6.8 million in total to date. It also supports team pre-purchases, anti-sniper taxes, and the ability to directly link tokens to AI Agents powered by the Economy OS. Once listed, tokens will trade via the Meteora DBC pool, which charges a 1% fee, with 70% of that going to creators. After accumulating 42,000 VIRTUAL tokens, the token will automatically graduate and migrate liquidity, with LP tokens locked for 10 years.
Odaily News: Super League, a bitcoin treasury subsidiary established in the U.S. by Japan's Metaplanet, has raised funds through an ATM offering for the first time since the deal was announced. Metaplanet is raising capital across capital markets on two continents.
Odaily News: Business intelligence software company Strategy holds 840,447 BTC at an average purchase price of $75,385. After Bitcoin rose for five consecutive days, breaking above $78,000, the position has returned to profitability for the first time since July.Based on a Bitcoin price of $78,400, the position is valued at approximately $65.89 billion, representing paper gains of about $2.53 billion against the initial investment of $63.36 billion, a return of roughly 4%. Over the past six weeks, the position's value has fluctuated by approximately $15.5 billion.Since May, Strategy has sold 6,948 BTC, raising approximately $432.5 million. During the same period, the company raised $334 million through sales of MSTR stock, deploying the funds toward preferred stock dividends, STRC buybacks, and dollar reserves, the latter of which currently stand at $6.7 billion. (Decrypt)
Odaily News: The STAR Market listing application of CCSH Corporation, the parent company of Yangtze Memory Technologies Co. (YMTC), has been accepted by the Shanghai Stock Exchange. The company plans to raise RMB 33 billion (approximately USD 4.9 billion), with an expected market valuation of RMB 275 billion to RMB 330 billion post-listing. If completed successfully, this IPO is expected to become the third-largest in STAR Market history by fundraising scale, trailing only CXMT and SMIC.According to the prospectus, CCSH recorded revenue of RMB 47 billion in Q1 2026, nearly five times the figure from the same period last year; net profit reached RMB 33.38 billion, more than double the full-year level of 2025. During the same period, the average selling price of NAND flash memory rose to 2.73 times the 2025 average, while gross margin climbed from 35.3% to 76.8%. The company plans to allocate RMB 20.8 billion of the raised funds to expand production lines and RMB 12.2 billion to R&D for next-generation NAND flash and high-speed storage products. (Reuters)
According to Chaoxiang Research, Goldman Sachs's August 23 research report notes that Samsung Electronics announced a projected shareholder return pool for 2026 ranging from KRW 90 trillion to KRW 110 trillion (median approximately KRW 100 trillion), which is lower than the KRW 150 trillion market expectation previously reported by the media. Goldman Sachs maintains its Buy rating with a common stock price target of KRW 490,000, implying a 74% upside from the current share price. The company plans to distribute cash dividends of approximately KRW 30 trillion in the third quarter, with the remainder to be implemented following confirmation in the January 2027 financial results. Goldman Sachs calculates that Samsung's cumulative free cash flow (FCF) from 2024 to 2026 will be approximately KRW 270 trillion. Based on a 50% payout ratio, the 2026 return will be about KRW 106 trillion, falling at the upper end of the guidance range. Goldman Sachs projects that the return pools for 2027 and 2028 will increase to KRW 179 trillion and KRW 232 trillion, respectively, while raising its 2026, 2027, and 2028 EPS forecasts by 1%, 7%, and 11%. At its current share price, Samsung trades at an expected 2027 price-to-book (P/B) ratio of 1.7x and a 2028 P/B ratio of 1.2x, with corresponding ROE reaching 40% to 50%. Goldman Sachs considers the risk-reward ratio to be attractive.
According to Trend Research, Goldman Sachs' August 21, 2026 research report notes that the MSCI Asia Pacific ex Japan Index (MXAPJ) posted Q2 net profit growth of 135% year-over-year and 52% quarter-over-quarter, with 46% of companies beating expectations and a median surprise of 4.3%. The information technology sector led the gains, with earnings up 390% YoY. The current MXAPJ forward P/E ratio stands at 11x, two standard deviations below its 10-year average, placing it in a deeply discounted range. Goldman Sachs has set a 12-month target price of 1,080 points, implying a 21% upside from the current level of 891 points, with an expected total return including dividends of approximately 24%. Goldman Sachs believes earnings resilience will drive valuation repair, recommending overweight positions in capital goods, healthcare, energy, tech hardware and semiconductors, and insurance, while suggesting underweights in autos, software & services, internet, utilities, and metals & mining. Key trading recommendations include going long on portfolios that outperform earnings revisions (launched in July 2021, with a cumulative return of 334%) and going long on AI infrastructure hardware and semiconductors (launched in June 2023, with a cumulative return of 63%). MSCI will adjust its index benchmarks on August 31, triggering approximately $42 billion in two-way capital flows across Asian markets, which could amplify volatility toward the end of the month. Downside risks to monitor include rising long-end US Treasury yields, escalating geopolitical tensions, and the pace of China’s economic recovery.