Trump Media has officially announced plans to introduce a Truth-branded utility token and a digital wallet, according to a recent filing with the U.S. Securities and Exchange Commission (SEC).

Only central bank digital currencies (CBDCs) give governments direct access to and control over your financial activities by default.

Japan’s top negotiator, Ryosei Akazawa, said he was visiting Washington starting today to push for President Trump’s executive order cutting auto tariffs to 15% from 27. 5%. source: https://www.cryptopolitan.com/akazawa-plans-u-s-trip-tariff-cut/

According to PANews, U.S. Securities and Exchange Commission (SEC) Commissioner Hester Peirce emphasized the importance of protecting individuals' rights to privately trade cryptocurrencies. Her remarks come as the trial of Roman Storm, associated with Tornado Cash, nears its conclusion. Storm faces allegations that the mixing service was used for money laundering. Peirce argued for the protection of privacy technologies and self-custody rights, asserting that developers should not be held accountable for how their software is used by others. She criticized the inefficacy of requiring open-source protocols to comply with financial regulations. Furthermore, Peirce highlighted that regulatory bodies should not mandate companies to record transaction parties, referencing the decentralized finance broker rules proposed during U.S. President Donald Trump's administration, which were later repealed. If convicted, Storm could face up to 40 years in prison. His defense team and industry experts maintain that software developers should not be liable for the actions of users. In similar cases, the co-founder of Samourai Wallet has already pleaded guilty.

According to Foresight News, data from the blockchain explorer Basescan indicates that the Base network has not produced a block for over 10 minutes.

Solana Mobile has started shipping its new crypto smartphone, the Seeker, to over 50 countries after receiving 150,000 pre-orders. The phone features built-in Web3 tools like a secure seed vault and a decentralised app store, offering an alternative to Apple and Google platforms.

According to BlockBeats, Bitwise CIO Matt Hougan has expressed that Uniswap's current market valuation of $6 billion appears to be underestimated. He noted that if Uniswap were a company, it would rank as the 400th largest financial services firm globally, comparable in size to Norway's savings and insurance company, Storebrand.

The White House is reportedly preparing an executive order for bank regulators to look into claims of debanking made by crypto executives and conservatives, The Wall Street Journal reports. source: https://cointelegraph.com/news/trump-order-probe-crypto-political-debanking-report?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound

According to Cointelegraph, the stablecoin market has experienced significant growth following the implementation of the GENIUS stablecoin bill in July, which prohibits issuers from offering yields on stablecoins. Ethena USDe (USDe) and Sky’s USDS (USDS) have emerged as major beneficiaries, providing yields when staked in their respective protocols. Since July 18, USDe's circulating supply has increased by 70% to 9.49 billion, ranking third in market capitalization among stablecoins. Similarly, USDS's supply rose by 23% to nearly 4.81 billion, placing it fourth in market capitalization, as reported by DefiLlama. The surge in USDe supply has led to a 60% rally in the price of ENA, Ethena’s governance token, with its current price at $0.58, according to CoinGecko. Yield-bearing stablecoins have become unexpected winners in the post-GENIUS era, despite the act disallowing them in the U.S., as noted by Anthony Yim, co-founder of analytics firm Artemis. Julio Moreno, CryptoQuant's Head of Research, highlighted that investors are increasingly turning to yield-bearing stablecoins like USDe and USDS, which offer yields through staking within their protocols. This shift is attributed to the GENIUS act's ban on direct yield provision by issuers. The stablecoin market has grown from $205 billion at the beginning of the year to $268 billion currently, marking a 23.5% increase, according to DefiLlama. Moreno predicts that the total stablecoin supply could reach $300 billion by year-end if the growth trend persists. However, Temujin Louie, CEO of Wanchain, cautioned that tokenization efforts by traditional finance players might impede stablecoin growth, as they offer similar benefits without compromising safety and regulatory oversight. A report from July suggests that the demand for decentralized finance applications on the Ethereum network may rise following the GENIUS Act's restrictions on yield-bearing stablecoins. Yield-bearing stablecoins generate returns through staking, lending, or utilizing real-world assets like US Treasurys, providing passive income for tokenholders. These stablecoins offer a real rate of return, adjusted for inflation, with the current U.S. headline inflation rate at 2.7% for June. Staked USDe (sUSDe) offers an annual percentage yield (APY) of 10.86%, while staked USDS (sUSDS) provides an APY of 4.75%, resulting in real rates of return of 8.16% and 2.05%, respectively.

SEC Commissioner Hester Peirce said developers of open-source privacy software should not have to answer for the actions of others using their software. source: https://cointelegraph.com/news/hester-peirce-defends-crypto-privacy-tornado-cash-trial?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound

The rally places LTC among the top-performing large-cap altcoins this week, gaining over 12% in the past 7 days. source: https://coindoo.com/market/litecoin-price-10-up-today-heres-why-the-rally-might-just-be-starting/

SEC issues stablecoin guidance, signaling a significant regulatory shift for the crypto industry. source: https://coincu.com/352697-sec-stablecoin-guidance-regulatory-shift

After falling below a crucial support level, Bitcoin (BTC) is attempting to recover some of its lost ground. An analyst suggested that this week’s performance will be decisive for the cryptocurrency’s next trend. Related Reading: Pundit Says Ethereum Price Is Headed For $9,000 After This Broadening Wedge Retest Bitcoin Loses Bull Flag Formation Over the weekend, Bitcoin lost its post-breakout range for the first time in three weeks, falling to a local low of $112,296 on August 3. The flagship crypto had been trading between the $114,000-$120,000 range since the early July breakout, hitting its all-time high (ATH) of $122,838 amid the rally source: https://www.newsbtc.com/news/bitcoin/bitcoin-price-discovery-rally-over-this-week-may-hold-answer/

A drop in on-chain transaction speed doesn’t necessarily mean Bitcoin adoption is slowing. In fact, it might just mean we’re barking in the wrong direction.

The competition between Base and Robinhood will drive innovation in on-chain finance.

Verb Technology is rebranding as TON Strategy Co. and has raised $558 million to buy and stake Toncoin, making it their main treasury asset. This move is tied to Toncoin’s growing role in Telegram’s ecosystem, though the token’s value has dropped despite strong investor interest in the company.

The Trump brothers brought "two things": one is entry into the capital market through Trump family relationships; the other is the narrative brought by the Trump family.

Ethena Labs’ dollar-pegged stablecoin, USDe, has experience a meterioric rise in recent months, now standing as the third-largest after its market capitalization soared by 75% to approximately $9.3 billion in just three weeks.

The field of crypto assets has become a new track for future international financial games, playing an important role in promoting innovation and economic development, and enhancing international leadership. The high integration of the crypto asset ecosystem and the traditional financial system has become a major trend.

Time will tell if the GENIUS Act is truly a genius bill.