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Hines, the Executive Director of the White House Crypto Council, will step down and be succeeded by Patrick Witt, as he transitions to a private sector role while advising on AI policy alongside David Sacks.
VIPBitget VIP Weekly Research InsightsThe cryptocurrency market has recently seen increased volatility, driven by macroeconomic policies, global trade tensions, and expectations the Federal Reserve's monetary policy. Although some indicators came in weak, investor sentiment improved as market expectations for a September rate cut rose sharply. Meanwhile, the slowdown in tariff adjustments has helped ease major trade frictions in the short term, with no signs of systemic risk emerging for the time being. On the crypto side, BTC turnover has fallen as many short-term traders exit the market, leading to more stable price movements. The altcoin sector continues to underperform due to a lack of sustained narratives. Despite the surge in memecoins, high-quality projects remain scarce. Large volumes of capital are cycling in and out quickly, making it difficult to invest effectively. With short-term uncertainty still high, many investors are allocating part of their portfolios to stablecoin-based Earn products. Alongside leading DeFi protocols such as Aave and Compound, platforms like Bitget offer diversified, high-yield stablecoin opportunities, providing investors with more avenues to preserve and grow their assets.
Ethena’s USDe records $5.7B in cross-chain volume, ranking third among synthetic dollars by market cap.Climbing the Synthetic Dollar RankingsImplications for DeFi and the Stablecoin Market
- 08:11Shares of major U.S. banks fall in pre-market tradingJinse Finance reported that major U.S. bank stocks fell broadly in pre-market trading. Bank of America (BAC.N) dropped more than 3%, Citigroup (C.N) fell 1.7%, Goldman Sachs (GS.N) and Wells Fargo (WFC.N) both declined about 1.4%, and JPMorgan (JPM.N) dropped more than 1%.
- 07:53Typus Finance: Vulnerability fix completed, no liquidation risk during perpetual contract suspensionChainCatcher news, according to market sources, Typus Finance announced that the team has completed internal code fixes for the vulnerability disclosed the day before, and is currently awaiting review by independent security experts before redeployment. Typus emphasized that during the contract suspension period, all perpetual contract positions will not be liquidated, and users' collateral assets are safe and can be withdrawn once the security check is completed. The official statement also mentioned that fund tracking efforts are being coordinated with partners and law enforcement agencies, and the asset recovery plan is still being formulated internally. The team reiterated that they will continue to maintain transparency and promptly inform users after key developments.
- 07:46113,696,711 USDT transferred out from a certain exchangeAccording to Jinse Finance, Whale Alert has monitored that 113,696,711 USDT (approximately $113,818,935) were transferred from an exchange to an unknown wallet.