The U.S. Senate Banking Committee will hold a hearing Thursday morning local time for Stephen Milan, Trump's nominee for the Federal Reserve Board. In his pre-submitted testimony, Milan stated, "In my view, the central bank's most important mission is to prevent depression and hyperinflation. The independence of monetary policy is a key element to its success." Milan stated, "If confirmed, I intend to faithfully carry out my duties in accordance with the mandate granted by Congress. My opinions and decisions will be based on macroeconomic analysis and judgment about what is best for long-term management. The Federal Open Market Committee is an independent body with a significant mandate, and I intend to maintain that independence and serve the American people to the best of my ability." However, Milan also raised questions about the Fed's oversight of activities outside of its dual mandate, including its balance sheet. "The Federal Reserve oversees the world's most important financial institutions," he stated. "It sets different prices for borrowers and lenders (including other central banks). The ultimate composition of the Fed's balance sheet is an open question." (Jinshi)

According to Cointelegraph, the 2025 Global Cryptocurrency Adoption Index released by Chainalysis shows that India, the United States and Pakistan rank in the top three, followed by Vietnam and Brazil.

Federal Reserve Chairman Kashkari: There is good reason to believe that the economy will cool moderately, and there is room for a moderate reduction in interest rates. (Jinshi)

The Federal Reserve Beige Book: Economic activity in most Federal Reserve districts showed little or no change since the last report, with four districts reporting moderate growth. Ten districts said price increases were moderate or modest. (Jinshi)

U.S. President Donald Trump hinted on Wednesday that trade deals the United States has struck with economies such as the European Union, Japan and South Korea would be scrapped if the U.S. court system ultimately rules that its global tariff policy is illegal. Trump said his tariff policy gave him leverage to reach agreements with major trading partners – agreements that allow the United States to raise import tariffs on partner countries' products without facing retaliation. He said the agreements gave the United States "a chance to become incredibly wealthy again." "If we hadn't won that lawsuit, our country would have suffered tremendously," Trump told reporters. "All of these agreements were made, but I think we would have had to scrap them." (Jinshi)

According to Lookonchain monitoring, a newly created wallet received 692 BTC worth US$77.34 million from Galaxy Digital one hour ago.

OKX market data shows that SOL has fallen below 210 USDT, currently trading at 209.99 USDT, a 24-hour drop of 4.64%. (This newsletter was generated with AI assistance)

Market News: US President Trump hinted that tariffs may replace income tax in the future, which may change tax policy, and said that tariffs are "vital" to the success of the United States. (Jinshi)

Aria, an asset-on-chain platform based on the Story Protocol, announced the completion of a $15 million seed and strategic funding round, led by Polychain Capital and Neoclassic Capital, at a valuation of $50 million. Aria, which specializes in tokenizing music IP, has launched its first APL token, allowing holders to earn music copyright income through staking. (The Block)

Coinbase has announced support for AWE (AWE) on the Base network. Please do not send this asset over other networks, as this may result in loss of funds. Trading will begin on or after 9:00 AM PT on September 4, 2025, subject to liquidity conditions. Trading of the AWE-USD pair will launch in phases and may be restricted in some regions.

The credit circulatory system, like the human circulatory system, carries nutrients to all parts of the body. If the income generated by credit and debt is sufficient to repay the debt, then the system is functioning well and is healthy.

Golden Finance has launched the "Golden Web3.0 Daily" to provide you with the latest and fastest MEME, DeFi, DAO, NFT and metaverse industry news.

The pricing power of Bitcoin has completely shifted from retail investors to institutions, and now this trend is repeating itself in Ethereum.

作为全球增长最快的经济体之一，印度正逐步实现其数字支付的愿景。

The market will evaluate the effectiveness of this "blood transfusion" based on whether it can be converted into upward momentum.

Recommended reading for this evening: 1. Understanding Jack Ma's Web3 strategy; 2. Joint statement from the US SEC and CFTC: Registered exchanges are not prohibited from trading certain spot crypto assets; 3. Bitcoin's future challenges: Growing BTC demand vs. insufficient network activity;

Stablecoin, US dollar, Arthur Hayes blog post: When stablecoins become fiscal weapons, how to redistribute US dollar power. Golden Finance, the US dollar's control over the global reserve currency under "American peace".

Since the global financial crisis created by Wall Street in 2008, criticism and controversy surrounding the traditional financial system have never stopped in all walks of life.

Hong Kong-listed Yunfeng Financial Group, which has ties with Alibaba founder Jack Ma, has made a decisive move towards Web3 after purchasing 10,000 ETH, which has a value of approximately $44 million.

The SEC and CFTC have launched a joint initiative to let registered U.S. exchanges offer spot crypto trading. They will provide guidance and review applications to ensure platforms comply with existing regulations.