The startup's $500 million valuation shows Silicon Valley will throw money at AI-powered anything—even a high tech mattress. source: https://decrypt.co/336128/silicon-valley-throws-100m-at-ai-powered-mattress-with-a-subscription

Hong Kong-based firm Ming Shing said it is entering an agreement with Winning Mission Group to purchase 4,250 BTC at an average price of $113,638. source: https://www.theblock.co/post/367735/ming-shing-bitcoin-agreement?utm_source=rss&utm_medium=rss

According to Cointelegraph, experts at the Wyoming Blockchain Symposium emphasized the urgency for the United States to establish a comprehensive regulatory framework for cryptocurrencies. Despite the European Union's progress with the Markets in Crypto Assets (MiCA) regulation, panelists believe the U.S. can still catch up. Sylvia Favretto, general counsel at Mysten Labs, highlighted the narrow window of opportunity, urging immediate action to avoid falling behind other regions. Stuart Alderoty, Ripple's chief legal officer, stressed the importance of seizing this opportunity to shape the market structure favorably. He warned that failure to do so could result in the U.S. losing its competitive edge to regions like the EU, Asia-Pacific, or the Middle East. The panel, moderated by CNBC host Talia Kaplan, included key figures such as Miles Jennings from a16Z, Summer Mersinger of the Blockchain Association, and Sylvia Favretto. Summer Mersinger, CEO of the Blockchain Association, cautioned that achieving regulatory clarity could be a lengthy process as U.S. lawmakers work towards a cohesive crypto policy ahead of the 2026 midterm elections. The 2024 elections saw Republicans gaining control of the Executive Branch and Congress, providing the Trump administration with the opportunity to advance pro-crypto policies. However, the Republican majority in Congress is slim, with only a seven-seat lead in the House and an eight-seat majority in the Senate. Joe Doll, general counsel at NFT marketplace Magic Eden, noted that the Trump administration has a limited timeframe to implement significant crypto regulations. He warned that midterm elections often shift the balance of power, potentially leading to legislative gridlock that could stall regulatory efforts. Marta Belcher, president of the Blockchain Association, echoed these concerns, pointing out the challenges of passing regulatory policies as representatives focus on re-election campaigns. The urgency for clear crypto regulations remains a critical issue as the U.S. navigates its position in the global crypto landscape.

According to the announcement from Binance, the platform is set to launch two exclusive promotions aimed at enhancing user engagement with Binance Convert. These promotions will offer eligible participants a chance to win a share of 16,500 USDC in token vouchers. The promotion period is scheduled from 2025-08-21 00:00 (UTC) to 2025-09-17 23:59 (UTC). Promotion A focuses on accumulating Ethereum (ETH) through Binance Convert. Eligible users who confirm their participation via the designated landing page and accumulate ETH during the promotion period will be ranked weekly. The top 300 users each week will share a reward pool of 3,000 USDC in token vouchers, with a cap of 10 USDC per user. Additionally, a bonus task is available for the first 300 winners from weeks 1 to 4 who trade ETH token pairs for at least 14 different days via Convert Recurring. These participants will share an additional reward pool of 3,000 USDC, also capped at 10 USDC per user. Promotion B targets new users of Binance Convert Recurring. The first 300 new eligible users who confirm their participation and convert at least 25 USDC equivalent of any tokens within the first seven days after their initial deposit will qualify for an equal share of a 1,500 USDC reward pool, capped at 5 USDC per user. To participate in either promotion, users must complete account verification and confirm their participation on the promotion page during the specified period. Rewards will be distributed within two weeks after the promotion ends, and users can redeem their token vouchers via the Rewards Hub. The validity of these vouchers is set at 60 days from the distribution date. Binance reserves the right to amend the terms and conditions of these promotions at its discretion.

According to PANews, Hong Kong Mingcheng Group has announced the signing of a Bitcoin purchase agreement. The company plans to invest $483 million to acquire 4,250 Bitcoins. This strategic move highlights the growing interest and investment in cryptocurrency by major corporations.

On Aug 21, 2025, 01:20 AM(UTC). According to Binance Market Data, Bitcoin has dropped below 114,000 USDT and is now trading at 113,954.203125 USDT, with a narrowed narrowed 0.64% increase in 24 hours.

On Aug 21, 2025, 01:20 AM(UTC). According to Binance Market Data, Ethereum has dropped below 4,300 USDT and is now trading at 4,299.189941 USDT, with a narrowed narrowed 4.71% increase in 24 hours.

Federal Reserve Governor Cook disputes allegations by FHFA's Pulte regarding past mortgage fraud. Crypto markets remain unaffected. source: https://coincu.com/356324-federal-reserve-cook-denies-allegations

According to Cointelegraph, U.S. Federal Reserve Governor Christopher Waller has reassured both his colleagues and the private banking sector that there is no reason to fear crypto payments, despite their operation outside the traditional banking framework. Speaking at the Wyoming Blockchain Symposium 2025, Waller emphasized that decentralized finance (DeFi) represents merely a new technological method for transferring assets and recording transactions. He urged policymakers and the banking industry to collaborate on developing crypto payment infrastructure, highlighting that the use of smart contracts, tokenization, and distributed ledgers in daily transactions should not be intimidating. Waller's remarks signal the Federal Reserve's gradual shift towards embracing cryptocurrency and its potential role in the U.S. payment system. In a significant move, the Fed recently withdrew its 2022 guidance that discouraged banks from engaging in crypto and stablecoin activities. Additionally, the Fed has concluded its risk-focused "novel activities supervision program" that monitored crypto-related activities. Fed Vice Chair for Supervision Michelle Bowman also suggested that staff should be permitted to hold small amounts of cryptocurrency to gain a better understanding of the technology. Waller, who is seen as a leading candidate to succeed Jerome Powell as Fed Chair, could soon have more influence in shaping the Fed's approach to cryptocurrency. Powell's term is set to end in May 2026, and his continuation depends on renomination by U.S. President Donald Trump and Senate confirmation. However, reports indicate that Trump has been pressuring Powell to step down. Waller likened DeFi transactions to everyday debit card purchases, explaining that using stablecoins to buy a memecoin is akin to using a debit card to purchase an apple at a grocery store. He described the process as straightforward: using a digital dollar from a checking account to pay, tapping a debit card on a reader, and receiving a transaction receipt. In the crypto world, this translates to buying a memecoin with a stablecoin, executing the transaction via a smart contract, and recording it on a distributed ledger. The recent enactment of the Guiding and Establishing National Innovation for US Stablecoins Act is seen by Waller as a crucial step towards stablecoin adoption. He believes this legislation could enable stablecoins to achieve their full potential, aiding in maintaining and expanding the dollar's international role, particularly in high-inflation countries or those with limited access to physical dollars. The stablecoin market, currently valued at $280 billion, is projected by the U.S. Treasury to reach $2 trillion by 2028, driven by a regulatory framework that could boost demand for U.S. Treasury bills. Tether (USDT) and Circle’s USDC (USDC) are the dominant players in the stablecoin sector, with market caps of $167 billion and $67.5 billion, respectively, according to CoinGecko data.

According to PANews, the Wormhole Foundation has raised concerns over LayerZero's proposal to acquire Stargate (STG) for approximately $110 million in ZRO tokens. The foundation believes this offer undervalues Stargate's assets and growth potential. In July, Stargate's bridging volume reached $4 billion, marking a tenfold increase from the previous year, with a total value locked (TVL) of $345 million and an annual revenue projection of $2 million. In response, Wormhole plans to submit a higher bid and has requested a five-day suspension of the current Snapshot voting process. This pause aims to refine the bidding procedure and ensure the interests of STG holders are protected.

Federal Reserve Governor Stephen Waller, a leading candidate for the next Federal Reserve Chair, called for embracing a "technology-driven revolution" in artificial intelligence and stablecoins. He also revealed that the Fed is researching a new round of technological innovations, including tokenization, smart contracts, and AI-powered payments.

Golden Finance has launched the 2792nd issue of "Golden Morning 8", a morning newspaper for the cryptocurrency and blockchain industry, to provide you with the latest and fastest digital currency and blockchain industry news.

Stablecoins, which once stood still, are now experiencing new life.

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.

In the field of digital finance, Web3 is seen as a new generation of disruptive Internet infrastructure.

If we measure success by speculation, we'll build castles of sand. If we measure success by infrastructure, we'll lay foundation stones.

Recommended reading tonight: 1. Google invests $132 million in crypto mining: Why did it choose TeraWulf? 2. Interest rate cut expectations, DAT speculation, and market indicators: When will the bull market top? 3. BTC will remain the world's best-performing asset over the next 10 years.

Is the crypto market a healthy correction or a sign of recession? What's the outlook for the crypto market? Golden Finance reports that the downward trend seems to be unstoppable.

OpenAI is planning a secondary share sale that could see employees cashing out around $6 billion, potentially valuing the company at $500 billion. The move comes as revenue surges from ChatGPT growth and the firm expands with new funding, acquisitions, and AI development.

Shein’s high-stakes push for a public listing has taken a new twist. The fast-fashion giant is reportedly considering shifting its corporate base back to China from Singapore in a bid to win Beijing’s approval for a Hong Kong initial public offering (IPO), according to Bloomberg.