Trump Signs Executive Order Allowing 401(K) Investments in Cryptocurrency and Other Alternative Assets
On August 7, U.S. President Trump signed an executive order officially allowing U.S. 401(k) and other employer-sponsored retirement savings plans to invest in alternative assets such as private equity, real estate, and cryptocurrency. The order requires the Department of Labor and the Securities and Exchange Commission (SEC) to reassess relevant regulatory provisions to lower legal barriers and provide more options for retirement account investments.
This move has been hailed as "opening new avenues for diversifying retirement savings" and could attract asset management giants like Blackstone and KKR into the approximately $12 trillion retirement account market.
Ripple Invests $200 Million to Acquire Stablecoin Platform Rail, Enhancing Global Payment Strategy
U.S. crypto payment company Ripple announced it will acquire the Toronto-based stablecoin infrastructure platform Rail for $200 million, with the transaction expected to be completed in the fourth quarter of 2025, pending regulatory approval.
This acquisition will strengthen Ripple's position in the stablecoin payment sector, as Rail's virtual accounts and automated backend technology will enhance Ripple's service capabilities within the global payment network.
Philippine SEC Blocks 10 Unregistered Crypto Exchanges, Strengthening Virtual Asset Regulation
The Philippine Securities and Exchange Commission announced that at least ten unregistered cryptocurrency exchanges (including OKX, Bybit, KuCoin, Kraken, MEXC, Bitget, Phemex, CoinEx, BitMart, and Poloniex) are still providing services to Philippine users, violating new regulations that took effect on July 5, which require all virtual asset service providers to register with the SEC in advance and have anti-money laundering and customer due diligence systems in place. To strengthen enforcement, the Philippines has requested telecom operators to block access to these platforms.
Zhao Changpeng Seeks to Dismiss FTX's $1.76 Billion Claim
Binance co-founder Zhao Changpeng (CZ) recently filed a motion in the U.S. Bankruptcy Court for the District of Delaware, requesting the dismissal of a claim worth approximately $1.76 billion filed by the FTX liquidation trust. CZ argued that he currently resides in the United Arab Emirates (UAE) and is not a Delaware resident, thus U.S. courts do not have jurisdiction over him; at the same time, he emphasized that the incident involved entirely offshore transactions, which are outside the jurisdictional principles of U.S. bankruptcy law. Additionally, CZ's legal team pointed out that he was merely a "nominal counterparty" in the 2021 share buyback transaction and not the principal party, thus should not bear primary responsibility.
MEI Pharma Launches $100 Million Litecoin Treasury Strategy, Building Digital Asset Reserves
U.S. Nasdaq-listed biopharmaceutical company MEI Pharma announced the launch of a $100 million institutional-grade Litecoin treasury strategy, becoming the first publicly traded company to use Litecoin as a core reserve asset. The company purchased 929,548 Litecoins at an average price of $107.58 each (totaling approximately $110.4 million).
Crypto Exchange Bullish Plans IPO to Raise $629 Million
Crypto exchange platform Bullish, backed by PayPal co-founder Peter Thiel, recently submitted IPO documents to the U.S. SEC, planning to issue 20.3 million shares of common stock, with a pricing range of $28–31 per share. If priced at the highest end, the expected fundraising amount would reach $629.3 million, with an estimated company valuation of approximately $4.23 billion.
This marks Bullish's second attempt to go public in four years; it previously abandoned a SPAC listing plan in 2021 due to regulatory issues, which was then valued at around $9 billion.
Nasdaq-Listed Pharmaceutical Company Artelo Launches SOL Reserve Asset Strategy
Nasdaq-listed pharmaceutical company Artelo Biosciences has initiated a Solana reserve asset strategy. The company raised approximately $9.475 million through a private placement to incorporate SOL into its asset reserves, becoming the first publicly traded pharmaceutical company to use cryptocurrency as a core reserve asset. The transaction includes the issuance of 906,687 shares of common stock at $10.45 per share, along with two sets of warrants with exercise prices of $10.20 and $50.00, respectively, over three years. The funds raised will not only support the launch of the Solana reserve strategy but also aid the company's R&D and operations in the fields of oncology, pain, dermatology, and neuropathy.
Coinbase Imposes 0.1% Fee on Large USDC to USD Transactions
Coinbase announced that starting August 13, it will charge a 0.1% fee on the portion of net USDC exchanged for USD exceeding $5 million within a 30-day period. Previously, such transactions were fee-free. This move aims to alleviate the pressure on the platform caused by arbitrage activities between USDT and USDC, and is also a "experimental measure" in response to two consecutive quarters of revenue falling short of expectations.
FTX Confirms August 15 as Creditor Distribution Record Date, Asset Distribution to Start at End of September
FTX confirmed that August 15 will be the record date for the next round of creditor distributions, with asset distribution expected to begin at the end of September. Creditors must complete KYC and related procedures in advance to ensure smooth participation in this asset distribution.
Token Unlocks
Aptos will release 11.31 million APT tokens on August 11, accounting for approximately 2.2% of the current circulating supply.
EigenCloud will release 1.29 million EIGEN tokens on August 12, accounting for approximately 0.48% of the current circulating supply.
Avalanche will release 1.67 million AVAX tokens on August 15, accounting for approximately 0.51% of the current circulating supply.
Starknet will release 127 million STRK tokens on August 15, accounting for approximately 5.98% of the current circulating supply.
Onyxcoin will release 296.38 million XCN tokens on August 15, accounting for approximately 0.83% of the current circulating supply.
Moca Network will release 2.43 million MOCA tokens on August 15, accounting for approximately 0.06% of the current circulating supply.
Sei will release 55.56 million SEI tokens on August 16, accounting for approximately 1.21% of the current circulating supply.
Arbitrum will release 92.65 million ARB tokens on August 16, accounting for approximately 2.04% of the current circulating supply.
ZKsync will release 173.08 million ZK tokens on August 17, accounting for approximately 3.61% of the current circulating supply.
ApeCoin will release 15.6 million APE tokens on August 17, accounting for approximately 1.72% of the current circulating supply.
Related: White House: Trump Will Allow U.S. 401(k) Retirement Plans to Invest in Cryptocurrency
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