Summary of important events (08.12-08.18)

1. Top 2 Hot Events of Last Week 

 

Minutes of the Federal Reserve Meeting: Some officials growing cautious about further interest rate hikes.

 

On August 17, the minutes of the Federal Reserve’s July meeting mentioned that some officials believed that the risks of both excessive and insufficient rate hikes have become more balanced. As a result, the committee’s decision must find a balance between not overly tightening policy and not raising rates too little to avoid the cost of inadequate tightening. Officials remained concerned that inflation may not decline as expected. 

 

SpaceX’s past sale of $373 million worth of Bitcoin.

 

On August 18, Musk’s SpaceX was reported to have sold $373 million BTC. Bitcoin briefly dropped to 24,220 USDT, down more than 7% on the day; meanwhile, Ethereum dropped to a five-month low of 1550 USDT.

 

2. Cryptocurrencies & Exchanges

 

On August 14, Coinbase announced its official launch in Canada after integrating a popular payment method into the exchange. 

 

On August 14, the cryptocurrency exchange Txbit will officially cease its operations.

 

On August 15, dYdX launched its public testnet 2 for dYdX Chain.

 

On August 16, Binance shut down its fiat-to-crypto payment platform Binance Connect.

 

On August 16, Coinbase was granted permission to provide cryptocurrency futures trading services for qualified US customers.

 

3. Regulatory Updates

 

On August 13, Brazil's Congress moves towards imposing higher cryptocurrency taxes.

 

On August 14, Taiwan’s Financial Supervisory Commission’s draft guidelines stated that operators cannot issue stablecoins and must not advertise or solicit business before compliance.

 

On August 15, Singapore's Central Bank releases stablecoin regulatory framework.

 

On August 17, Federal Reserve takes enforcement action against FTX-linked Farmington State Bank over stablecoin dealings.

 

On August 17, the United Kingdom to implement travel rules for cryptocurrency transfers starting September 1st.

 

4. Market Updates

 

On August 14, Fuqiang Securities submitted a license application to the Hong Kong Securities and Futures Commission for engaging in virtual asset-related activities.

 

On August 15, Ark Invest and 21Shares submitted three Bitcoin futures ETF applications to the US SEC.

 

On August 15, the Hong Kong government allocated HK$50 million for Cyberport to promote Web3 development.

 

On August 15, Jacobi Asset Management (Jacobi) listed Europe's first spot bitcoin ETF on Euronext Amsterdam.

 

On August 16, Uzbekistan pioneers crypto integration with 'UzNEX crypto card,' bridging traditional banking and digital finance in a visionary move.

 

On August 16, Singapore arrest 10 foreigners, seized $1 billion assets in money laundering probe.

 

On August 17, Valkyrie submitted an Ethereum futures ETF application.

 

On August 17, BlockFi enables fund withdrawal feature for eligible customers.

 

On August 18, the U.S. Securities and Exchange Commission (SEC) is set to greenlight Ethereum futures exchange-traded funds (ETFs) in the coming months.

 

On August 18, Tether will discontinue its Bitcoin Omni Layer version, citing a lack of interest from users. 

 

5. Statements from Individuals/Organizations

 

On August 14, Justin Sun: Owns more than 100,000 BTC.

 

On August 15, Hong Kong Chief Executive John Lee Ka-chiu: Web 3.0 is a new direction for the development of the Internet. 

 

On August 15, US Federal Deposit Insurance Corporation (FDIC): Crypto-asset-related activities can pose novel and complex risks to the U.S. banking system that are difficult to fully assess.

 

On August 15, Delphi Digital co-founder Kevin Kelly: Evidence is piling up that we're in the early stages of a new cycle.

 

On August 17, US CFTC Chairman Rostin Behnam: A clear regulatory framework in the burgeoning cryptocurrency market is necessary.

 

On August 17, Ripple Labs: The US SEC does not meet the standards required for advancing intermediate appeals.

 

On August 17, Ethereum Foundation engineer Parithosh Jayathi: Developer network Dencun-devnet-8 is online.

 

On August 18, Coinbase Chief Legal Officer: Supports plaintiffs’ appeal process in Tornado Cash sanctions case.

 

On August 18, CZ: Binance employees barred from futures trading, prioritizing integrity and long-term focus.