News linked to both this project and an event.
Arthur Hayes stated that amid high government debt, Federal Reserve interest rate hikes could have a stimulative effect: rising interest on bank reserves and US Treasury yields will increase income for banks and asset holders, driving consumption and the allocation of financial assets. Although the Fed ended related asset purchases in mid-August, the expansion of bank balance sheets has still driven growth in total assets across the Federal Reserve and the banking system, thereby increasing the money supply.
Odaily reports: Arthur Hayes posted on the X platform that raising interest rates when government debt levels are high has a stimulative effect: bank reserve earnings increase, and the returns for holders of short-term Treasury bonds also increase, which overall will drive more consumption, especially consumption of financial assets.He stated that although the Federal Reserve stopped RMP purchases in mid-August, when accounting for bank balance sheet expansion, the combined assets of the Federal Reserve and banks are still growing and creating money. As the quantity of money increases, even if its price rises, financial assets will continue to appreciate.
Odaily News: According to Gate Ventures' latest weekly report, last week's escalation of geopolitical conflicts in the Middle East combined with U.S. core inflation exceeding expectations significantly heightened global market volatility. Brent crude and WTI crude surged 8.33% and 9.36% respectively, returning above $100 per barrel; U.S. August core CPI rose 0.29% month-over-month, higher than expected, pushing the 10-year Treasury yield to 4.97%, with market-implied probability of a September rate hike rising to approximately 86%; spot gold fell 1.82% to $4,349.42 per ounce. U.S. stock indices — the S&P 500, Nasdaq, and Dow Jones — declined 0.80%, 0.66%, and 1.57% respectively; the crypto market weakened in tandem, with BTC and ETH dropping 4.4% and 1.5% respectively. Spot BTC ETFs saw net outflows of $462.7 million, while ETH ETFs recorded net inflows of $197.1 million. The fear index dropped from 71 to 57, indicating a cooling of market sentiment.On the industry front, India launched a $107 million tokenized corporate bond pilot program, further advancing institutional-grade RWA tokenization; Gemini obtained a Major Payment Institution (MPI) license from the Monetary Authority of Singapore, further expanding its regulatory footprint in the Asia-Pacific region; and the Philippine central bank plans to suspend new payment system operator registrations for 12 months, tightening oversight of VASP-related payment activities.On the funding side, a total of 9 financing deals were completed last week, with disclosed total funding reaching $158.4 million, down 88% quarter-over-quarter. Overall, energy prices and inflation expectations remain the core variables driving short-term market trends, while interest in tokenized assets and institutional-grade crypto infrastructure development remains undiminished.
Odaily News: The UK House of Lords passed an amendment by a vote of 194 to 138, requiring the Treasury to formulate, publish, and consult on a national digital asset strategy within 12 months after the Financial Services and Markets Act takes effect.The strategy must cover crypto assets, qualifying stablecoins, central bank digital currencies, tokenized securities, and other digital financial assets, and review the availability of banking, payment, and settlement services, as well as the risks to competition and innovation posed by the withdrawal of related services.The bill still needs to undergo a third reading in the House of Lords on September 15, and will then be submitted to the House of Commons for consideration. The UK Financial Conduct Authority (FCA) completed the formulation of rules and guidance for the new crypto asset regulatory regime on June 30. The authorization application channel is planned to open on September 30, 2026, and the regime will take effect on October 25, 2027. (Bitcoin.com News)
According to an official announcement from DeFi Development Corp., Nasdaq-listed company DFDV announced that its total SOL treasury holdings have increased to approximately 2.389 million SOL (up by roughly 55,000 SOL from August 27, representing a month-over-month growth of approximately 2%). The company also announced a $300 million at-the-market (ATM) offering plan for CHAD (Variable Rate Series C Perpetual Preferred Stock), with proceeds primarily intended for continued SOL acquisitions. The company stated that the CHAD issuance price will not fall below the $10 par value per share, with R.F. Lafferty & Co. appointed as the exclusive sales agent. Year-to-date, SOL has outperformed the Nasdaq 100 index by 39%, while DFDV’s returns have been double that of SOL. CEO Joseph Onorati stated that the launch of the CHAD ATM will further advance the company’s “fundraising — coin accumulation — yield generation — compounding” capital flywheel strategy.
According to Chaoxiang Research, JPMorgan’s September 6, 2026 research report highlights four reasons supporting a bullish stance on US equities despite heightened volatility in interest rates, exchange rates, and oil prices: strong growth (GDP and EPS forecasts continue to be raised), interest rates are not too high (rising yields reflect economic expansion rather than monetary tightening), the US favors a weak dollar policy, and hedge fund positioning remains neutral to light. August nonfarm payrolls added 162,000 jobs, far exceeding expectations; however, whether to hike rates in September hinges on the September 11 CPI data, with JPMorgan projecting core CPI to rise 0.21% month-over-month. The MSCI World Index has gained 12% year-to-date, while the 10-year US Treasury yield has climbed by only 60 basis points, and earnings growth is currently absorbing valuations.
According to Bloomberg, crypto entrepreneur David Bailey, who played a pivotal role in helping Trump pivot to Bitcoin, has seen the stock of his publicly traded company, Nakamoto Inc., plunge approximately 99% from its peak since the merger announcement in May 2025. Previously, Bailey raised roughly $760 million for the firm to build Bitcoin reserves, and his hedge fund also posted a robust 640% return. This latest downturn reflects the broader collapse of digital asset treasury companies, as the premium investors were previously willing to pay to hold Bitcoin through publicly traded entities has significantly faded. Bailey stated that he maintains irregular contact with the White House and is currently focused on proving that the company retains a viable business foundation despite the crash.
According to Chaoxiang Research, Goldman Sachs' August 31, 2026 research report notes that Q2 S&P 500 median company EPS growth was 14%, with the earnings recovery spreading from AI infrastructure to broader sectors. Excluding AI infrastructure companies, earnings growth for the rest of the index also reached a new high for this cycle. Year-to-date, the S&P 500 is up 12%, with the forward P/E ratio still at 20x. Valuations have not expanded; earnings growth has absorbed the equity gains. In August, the S&P 500 gained approximately 2.5%, entirely driven by the first two trading days of the month. The Federal Reserve held rates steady in July, and Warsh's hawkish debut at Jackson Hole pushed the probability of a September rate hike above 50%. Goldman Sachs forecasts the month-over-month increase in core CPI and PCE for August to be around 0.2%, making a rate hike unlikely. The Treasury has expanded its U.S. Treasury buyback program. With the Strait of Hormuz closed for six months, Goldman Sachs believes oil prices may have topped out, and European natural gas carries significant upside risk. Inflation has remained elevated for five consecutive years, but Goldman Sachs assesses that inflation expectations have not yet faced de-anchoring risks. September's ISM Manufacturing, Nonfarm Payrolls, CPI, and PCE data will provide further directional guidance.
US-listed Hyperliquid Strategies Inc. (PURR), the HYPE treasury company, has amended its ChEF Purchase Agreement with Chardan Capital Markets, increasing the total committed amount for newly issued common shares from $1 billion to $2.5 billion. The amended agreement introduces a new trading cap mechanism: once cumulative sales exceed $1 billion, if the offering price falls below $12.02 per share, additional issuances will be capped at 42,641,847 shares, representing 19.99% of the outstanding shares prior to the amendment. Any additional issuances exceeding this cap require shareholder approval in accordance with Nasdaq rules, aimed at mitigating the dilutive impact on existing shareholders caused by low-priced offerings.
According to CriptoNoticias, data from El Salvador's National Digital Assets Commission (CNAD) shows that 233 new tokens were registered in the country's digital asset market in 2026, with 182 concentrated between July and August, accounting for 78.1% of the annual total. The registered assets encompass tokenized stocks of tech giants including Apple, Microsoft, Nvidia, Amazon, Alphabet, and Meta, alongside financial institutions such as JPMorgan Chase, Bank of America, Visa, and Mastercard. The list also features consumer brands like Walmart, Netflix, McDonald's, and Coca-Cola, as well as tokenized versions of indices and assets such as the S&P 500, NASDAQ 100, gold, and U.S. Treasury bonds. Major issuers include MIO 3 MARKETS 1 (101), Monetae Securities (70), and NexBridge Digital Financial Solutions (27). Additionally, 35 tokens originate from local Salvadoran enterprises, covering corporate bonds, commercial paper, real estate financing instruments, and venture capital agreements.
Odaily News, according to reports, U.S. Treasury Secretary Bessent recently urged Japan to raise interest rates to curb the continued depreciation of the yen. Analysts believe this highlights that traditional monetary policy is susceptible to government and external influences. In contrast, Bitcoin's monetary policy is preset by code, with new coin issuance following a fixed schedule and halving approximately every four years, offering greater predictability. In the short term, Bitcoin still finds it difficult to shake off shocks from traditional financial markets. If Japan's rate hike drives a rapid appreciation of the yen, low-interest yen financing trades accumulated over the long term could be unwound, potentially triggering sell-offs in stocks, bonds, and crypto assets. In August 2024, the Bank of Japan's rate hike strengthened the yen and put pressure on risk assets, including Bitcoin. On the technical front, BTC's 50-day moving average has been rising steadily and is close to crossing above the 200-day moving average, potentially forming a "golden cross." Analysts note that moving averages are lagging indicators, and the historical predictive performance of the golden cross as a standalone indicator has been unstable.
Odaily News - Bitfinex Securities, the tokenized investment platform under crypto exchange Bitfinex, has listed 5 tokenized notes, providing eligible investors with economic exposure to bitcoin treasury companies such as Strategy, Metaplanet, H100 Group, and Capital B. The platform has also listed Strategy's floating-rate perpetual preferred stock, STRC.The aforementioned notes are issued through the Luxembourg-based ORO (II) fund and managed by SICOS Securities. The underlying securities are held in custody by regulated financial institutions but do not grant investors direct ownership of shares in the corresponding companies. The products allow fractional investments starting from approximately $1 and support trading in USD, USDT, and Bitcoin, and are only available to eligible non-US investors.Bitfinex Securities stated that this marks the first time such products are available for secondary trading on a regulated tokenized securities exchange. Following the completion of a $50 million tokenized fundraising round for metals company Alkemya in August this year, the platform's total listed assets have surpassed $500 million. (Cointelegraph)
The company plans to raise $12.5 million through an initial offering of perpetual preferred securities. The proceeds will fund an AI treasury, a Bitcoin treasury, and a U.S. dollar reserve covering approximately 18 months of preferred stock dividends. The company stated that the final offering size, dividend rate, and timing remain to be determined.
Odaily News - PURR, a token related to the Hyperliquid ecosystem, rose approximately 15% after Hyperliquid Strategies published its "HYPE Treasury" and balance sheet updates.According to the disclosure, Hyperliquid Strategies has completed a $647 million equity financing round and increased its HYPE token reserve to 29.3 million tokens, valued at approximately $1.9 billion based on fiscal year-end prices—more than doubling from its previous size.The company stated that it subsequently invested an additional $773.4 million to acquire approximately 16.5 million HYPE tokens at an average purchase price of $46.77. The company said the continued expansion of its HYPE holdings is aimed at building a "fortress balance sheet" to strengthen long-term support for the Hyperliquid ecosystem.Market observers believe that sustained institutional allocation to HYPE assets has further reinforced expectations regarding the Hyperliquid ecosystem's value-capture capabilities, driving related ecosystem tokens like PURR higher. (The Block)
According to Odaily, the Iranian rial hit a record low this week, with the open market exchange rate falling to approximately 2.02 million rials per US dollar on August 24, compared to around 1.53 million rials in the first quarter. During the same period, the US government launched "Operation Economic Exodus," adding more than 60 entities to the Treasury Department's blacklist and, for the first time, designating digital assets as a sanctionable category.State-controlled farms linked to Iran's Islamic Revolutionary Guard Corps (IRGC) control approximately 65% of Iran's Bitcoin mining capacity. Iranian miners have accounted for roughly 3% to 7% of global Bitcoin hashrate since 2019, with the mined Bitcoin valued at an estimated $1.35 billion to $3.15 billion at various stages.Iran legalized Bitcoin mining in 2019, allowing licensed operators to use industrial electricity at approximately $0.004 per kilowatt-hour and sell the mined tokens to the Central Bank of Iran. Chainalysis estimates that IRGC-affiliated wallets received over $3 billion in Q4 2025; Elliptic states that the Central Bank of Iran holds at least $507 million in USDT.The US Treasury sanctioned Nobitex, Wallex, Bitpin, and Ramzinex in June. Nobitex had processed more than half of Iran's digital asset inflows; in April, the US Treasury seized nearly $500 million in Iran-linked crypto assets. (Bitcoin.com News)
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.
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.
Odaily News JPMorgan has warned that despite global major stock indices remaining in an uptrend, markets could face a pullback risk from late summer into early autumn. The bank noted that the internal structure of the U.S. stock market has been deteriorating recently, with capital rotating into defensive assets and investor confidence in artificial intelligence (AI)-related stocks weakening. JPMorgan strategist Jason Hunter pointed out that the current AI trading frenzy bears similarities to the tech stock bubble of 1999–2000, and that overheated positioning in the tech sector could heighten the risk of a correction.In addition, persistently rising U.S. Treasury yields, geopolitical tensions in the Middle East, and a slowdown in consumer spending were also cited by JPMorgan as potential sources of market pressure.JPMorgan believes that the current AI investment cycle still holds long-term growth potential, but in the near term, market valuations, crowded positioning, and investor expectations could expose tech stocks to greater volatility risk.
Odaily News: Bitcoin treasury company BSTR Holdings has announced an agreement with Cantor Equity Partners to terminate the business combination agreement signed on July 16, 2025. The termination is attributed to the continued valuation pressure on Bitcoin and listed Bitcoin treasury companies in the current market environment, which has led to a mismatch in the capital markets, limiting the amplifying effect of financing tools such as convertible bonds and perpetual preferred stock in Bitcoin treasury strategies. BSTR stated that it will continue to advance its institutional-grade Bitcoin asset management business once market conditions stabilize. (Businesswire)
According to TechFlow research, Morgan Stanley's August 20 report noted that the U.S. Treasury will increase the size of its liquidity-supporting repo operations for the 10-to-20-year and 20-to-30-year tenors from $2 billion per transaction to at least $4 billion, effective September 9. This marks the first adjustment to the repurchase volume outside of the quarterly refinancing window since the repo program launched in May 2024. The two tenors combined add $1.6 billion in notional amount, corresponding to approximately $19.3 million in DV01 (price change per one-basis-point move in rates), with a risk impact roughly double that of the November 2023 "supply surprise." Morgan Stanley stated that the Treasury's decision to expand repurchases ahead of schedule outside the quarterly refinancing window aims to signal close monitoring of long-end interest rate dynamics to the market, thereby buying time for the November refinancing window. The recent rise in the 10-year Treasury yield and curve steepening primarily reflect the market's repricing of energy prices and central bank policy trajectories, rather than concerns over deficits or supply. Morgan Stanley maintains its recommendation for a 7-year versus 30-year Treasury curve steepening trade, targeting a spread of 100 basis points (currently around 71 basis points). On the FX front, coordinated volatility in gold and the Swiss franc hit an annual peak on August 19; should the U.S. dollar policy narrative reassert itself, EUR/USD is likely to approach 1.2150.