US Treasury Secretary Yellen is betting that the cryptocurrency industry will become a key buyer of US government bonds in the next few years, as the US government is currently seeking support for the demand for massive new bonds. Sources familiar with the matter said that Yellen has sought information from major stablecoin issuers such as Tether and Circle, and these discussions have affected the Treasury Department's plans to increase sales of short-term Treasury bills in the coming quarters. The US Treasury Department hopes that stablecoins will become a key source of demand for US government bonds, which is also the latest sign of the White House pushing cryptocurrencies into the core of the US financial system. Jay Barry, global head of interest rate strategy at JPMorgan Chase, one of the largest bond traders in the US market, said: "(Secretary Yellen and the Treasury Department) absolutely believe that stablecoins will become a true source of new demand for US bonds. This is absolutely the reason he (feels reassured about increasing the proportion of short-term debt issuance)." 

 due to the failure of Ethereum prices to break through the resistance level as scheduled, a new decline has appeared. Analysis believes that the bearish pressure in this round of the market seems to be mainly driven by large hedge funds. These hedge funds continue to short ETH in record numbers and attempt to lower the ETH price to stop losses. According to the data on the "CME Ether Futures Net Position" dashboard on The Block, the number of Ethereum shorts has risen to unprecedented levels. For hedge funds alone, the short positions in August almost doubled: on August 5, the total amount of Ethereum shorts driven by hedge funds was $2.3 billion, however, this number has quickly increased to $4.19 billion recently, indicating that hedge funds continue to expect Ethereum prices to fall.

the latest research report from Bank of America has deeply analyzed the potential revolutionary power of stablecoins in the financial system, pointing out that this digital asset, despite facing regulatory controversies, has already shown unique advantages in areas such as cross-border transactions and retail settlements. The research report clearly states that cross-border peer-to-peer (P2P) payments are the most disruptive application scenario for stablecoins - compared to traditional banking systems, their settlement efficiency and cost advantages are significant, and they may become an important channel for the flow of funds in emerging markets. It is worth noting that Shopify's move to allow merchants to accept USDC stablecoins has been seen as a landmark event in retail penetration, while the recent tokenization of UST bonds completing repurchase transactions on-chain further highlights institutional investors' recognition of stablecoin settlement functions. In terms of market demand, Bank of America estimates that the potential demand for stablecoins for US Treasury bonds in the next 12 months could reach $25 billion to $75 billion, but in the short term, it is not enough to reverse the supply-demand situation in the bond market.

as reported by Cointelegraph, the stock price of Strategy (MSTR) fell by 7.43% yesterday, closing at $336.57, the lowest level since April 17.

according to Coinglass data, in the past 24 hours, a total of 73,000 Ethereum has flowed into CEX, with the top three CEX in terms of inflow as follows:

the market shows SOL falling below $180, now trading at $179.98, with a 24-hour increase of 0.16%. The market is volatile, please manage risks.

Binance will launch the Plume (PLUME) airdrop activity at 13:30 on August 20, 2025, and super rebate members can share 380,000 PLUME. The event will take place from August 20, 2025 to August 27, 2025, and participation requirements include inviting friends to register and complete transactions. For more details, please check the event page.

7:00-12:00 Keywords: Besant, Powell, Intel

Federal Reserve Board Member Bauman: De-banking is an issue in the financial system.

according to official sources, decentralized trading aggregator 1inch has announced the launch of native cross-chain exchange functionality, supporting the exchange of assets between Solana and over a dozen Ethereum EVM networks. This new feature does not rely on cross-chain bridges and can be used in 1inch dApp, wallets, and Fusion+API.