Odaily Planet Daily News: Galaxy's Head of Research posted on X, stating that on August 18, the U.S. Securities and Exchange Commission proposed the "Regulation Crypto Assets," abbreviated as Reg Crypto. The proposal aims to establish a legal pathway for certain tokens to be offered to the U.S. public and to set up a mechanism for terminating investment contracts. Its applicability is limited to crypto assets that are not themselves securities but were previously issued or sold as part of an investment contract; tokenized stocks, bonds, and arrangements bundling tokens with equity or other securities are not covered by the framework.

The proposal sets out four stages: offering, disclosure, build-out, and exit. A one-time startup exemption allows issuers to raise up to $5 million over a maximum of four years; a higher-threshold exemption modeled on Regulation A permits raising $20 million or $75 million within 12 months. Such offerings must pass SEC qualification review and involve ongoing disclosure, with non-accredited investors capped at 10% of the higher of their annual income or net worth. Issuers are also required to disclose token supply and unlock schedules, minting and burning mechanisms, governance and smart contract permissions, source code, as well as project construction commitments and progress.

Once an issuer completes or permanently ceases the relevant build-out obligations, makes no new construction commitments, and submits a transition report, the related investment contract will be deemed terminated, and the crypto asset will no longer be subject to securities laws under that investment contract. Issuers that did not use the above offering exemptions may also use this safe harbor. The SEC estimates that approximately 475 issuers per year would use the investment contract safe harbor, and about 130 issuers would use the two new exemptions. Offerings that qualify would not be considered restricted securities and could be resold immediately without contractual restrictions.

The proposal also excludes covered initial offerings and certain secondary transactions from state registration and qualification requirements, but it does not address exchanges, brokers, dealers, or custody, nor is it a standalone innovative exemption for tokenized securities and on-chain transactions. The comment period is 60 days after publication in the Federal Register. SEC Chairman Paul Atkins and Commissioners Hester Peirce and Mark Uyeda all issued statements of support. The article was written by Alex Thorn.

Odaily News: Coinbase CEO Brian Armstrong stated that the U.S. Digital Asset Market Structure Clarity Act (CLARITY Act) is expected to receive more than 60 votes of support in the U.S. Senate by September 15, and he is confident it will pass the first key procedural vote after Congress reconvenes.

Brian Armstrong previously stated that the CLARITY Act has entered its final advancement phase, and the Senate procedural vote requires 60 votes of support to move the bill forward. The bill aims to establish a U.S. digital asset regulatory framework, clarifying the division of responsibilities between the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) in overseeing crypto assets. Armstrong believes that regulatory clarity for the U.S. crypto industry is approaching—whether through the eventual passage of the CLARITY Act or through regulatory agencies advancing administrative rules, the market will see a more defined regulatory environment.

Previously, former U.S. President Donald Trump also called on Congress to push for the CLARITY Act's passage, arguing that the bill is crucial for establishing a digital asset regulatory framework and enhancing the competitiveness of the U.S. crypto industry. reuters.com However, the bill still faces disputes from some lawmakers over issues such as conflicts of interest and stablecoin regulation, and whether it can ultimately be enacted depends on further negotiations in the Senate. (CoinDesk)

Odaily News: Citadel founder and CEO Ken Griffin has sent an investor letter to investors regarding the AI fund Situational Awareness. Griffin stated that nearly 100 block trades have been completed, totaling over $4 billion, and risk exposure in the original portfolio has been reduced by more than 80%. (CNBC)

Odaily News: The cryptocurrency market experienced a sharp rally on August 19, triggering massive liquidations of short positions. According to Coinglass data, the total liquidation volume across the market that day reached $2.987 billion, with short-position liquidations accounting for as much as $2.739 billion, while long-position liquidations totaled approximately $248 million. Historical data shows that the total daily liquidation volume on August 19 ranks eighth in cryptocurrency market history, while short-position liquidations set an all-time record.

Notably, among the top 10 and even top 30 historical liquidation events in the cryptocurrency market, the August 19 market movement stands out as particularly unique. Previous large-scale liquidation events were mostly triggered by market downturns, primarily involving the concentrated liquidation of leveraged long positions. In contrast, the "8·19" event was rare in that it was driven by a market rally, with short-position liquidations dominating.

Analysts point out that large-scale short liquidations tend to amplify upward market movements, creating a "short squeeze" effect. As a large number of accumulated leveraged short positions were forced to close, buying pressure in the market increased, further accelerating the rapid rise in cryptocurrency asset prices.

Odaily News - U.S. Commodity Futures Trading Commission (CFTC) Chairman Michael Selig stated that if the Clarity Act continues to be stalled by Democratic obstruction, the CFTC will leverage its existing authority to begin establishing a regulatory framework for crypto assets and has directed staff to expedite formal rule proposals.

Selig has instructed staff to study incorporating digital asset market structure into CFTC rules, with both existing CFTC registrants and currently unregistered crypto exchanges potentially falling under regulatory scope. Rules tailored to digital assets may permit leverage and margin trading.

On Thursday, Bitcoin ETFs saw net inflows of $606 million, marking the highest single-day figure since May 1; Ethereum ETFs recorded net inflows of $219 million, the highest since September 2025. Over the past 24 hours, short liquidations in the crypto market exceeded $1.2 billion, approaching $5 billion over the past two days. (Decrypt)

According to Odaily, on-chain analyst Ember detected that a whale opened long positions worth $80 million in BTC and ETH on July 6, when the market dropped following MicroStrategy's announcement of a token sale, and has held them ever since. The BTC long position was opened at $62,353, while the ETH long position was opened at $1,762. With the market rebound over the past two days, the long positions established by this whale one and a half months ago have generated $21.1 million in unrealized profit.

Odaily News, according to MSX.COM data, as Bitcoin briefly broke above $79,400, shares of Bitcoin treasury company Strategy (MSTR) rose to a two-month high today, briefly surpassing $120 during intraday trading before giving back some gains.

Meanwhile, the price of Strategy's preferred stock product STRC also broke above $96 for the first time since June. Earlier, concerns over its dividend payment capability and ability to maintain the $100 price target over the long term had caused STRC to fall below $70.

Strategy has recently continued to manage its balance sheet through capital operations, including using proceeds from MSTR stock issuances to support preferred stock buybacks, dividend payments, and U.S. dollar reserve building. The company previously disclosed that as of mid-August, its Bitcoin holdings stood at approximately 840,447 BTC, while its dollar reserves reached around $4.8 billion.

Market participants believe that with Bitcoin's price recovery and improving investor risk appetite, Strategy-related securities have recently gained an opportunity for repricing. However, the future performance of MSTR and STRC remains highly dependent on Bitcoin price movements and the continued execution of the company's Bitcoin treasury strategy.

Odaily报道 根据 MSX.COM 数据，美股走势分化，纳指日内转跌。截至目前，道琼斯指数涨 0.75%，标普 500 指数涨 0.30%，纳斯达克综合指数跌 0.01%。区块链概念股大涨，嘉楠科技涨超 26%，MARA Holdings 涨近 10%。

Odaily News: In a podcast interview, Tom Lee stated that if he could hold only one company over the next 10 years, he would choose Robinhood Markets over prediction market platform Kalshi. He believes Robinhood possesses a competitive moat built on user experience (UI) and customer relationships, an advantage that is sometimes underestimated by investors. He noted that Robinhood has established genuine user connections, which will serve as a critical foundation for the company's long-term growth.

When discussing the regulatory risks facing prediction markets, Tom Lee expressed that this sector involves local regulators and judicial rulings, and significant uncertainty remains ahead. Currently, multiple U.S. states, including New York and Nevada, have taken legal action against prediction market-related businesses, while the U.S. Ninth Circuit Court of Appeals is also expected to issue a related ruling later this year.

Regarding the regulatory framework for prediction markets, Tom Lee believes it might be more reasonable for the U.S. Commodity Futures Trading Commission (CFTC) to obtain regulatory authority. He stated that adjustments to prediction market regulations are part of the broader restructuring of the financial services regulatory system, but the final outcome of court rulings remains difficult to predict.

Tom Lee has long been bullish on the fintech and digital asset sectors, and he believes the financial services industry will undergo broader regulatory and business model transformations in the future.

Odaily News, according to Lookonchain monitoring, Circle and Tether have minted a total of $3 billion in stablecoins over the past two days, with liquidity flowing into the crypto market.

Odaily News: Arthur Hayes said on Laura Shin's podcast that ETH is one of the most unloved large-cap altcoins on the market—ranked second by market cap yet still hasn't surpassed its 2021 all-time high. He revealed that ETH is currently the largest position in the Maelstrom portfolio after Bitcoin, given its relatively manageable downside risk. Hayes believes ETH's gains this cycle have been limited, leaving substantial room for a catch-up rally. Once it breaks through the $3,000 threshold, reflexivity could drive prices sharply higher, potentially surpassing $5,000 sooner rather than later, with the year-end target within reach.

Odaily News According to an Axios analysis, oil prices are showing a diminishing reaction to Trump's social media posts regarding the Iran war. Oil analyst Ben Cahill stated that during the initial weeks of the war, there was an "information vacuum" and high uncertainty about U.S. policy and objectives. The market "overreacted" to the barrage of posts. "For months, the market has been ignoring social media posts because they simply don't reflect the actual situation," he said, adding that many of Trump's statements about the status of the Strait of Hormuz, policy, and war goals have "zero correlation" with actual shipping traffic through the strait.

Cahill noted: "In the early months, I think the White House was quite successful in controlling the narrative and keeping oil prices down. But that has now worn off." (Jin Shi)

According to Odaily, CryptoQuant analyst Darkfost stated that Bitcoin's recent Realized Profits have reached their highest level since 2026. Data shows that as of August 20, the market had accumulated approximately $1.65 billion in realized profits that day, indicating that a large number of investors are taking profits at current highs.

Darkfost noted that as realized profits continue to climb, the market requires sustained new demand to absorb selling pressure. At present, buyer demand remains stable and is able to absorb the supply pressure from investors exiting with profits. If capital inflows and market demand continue to hold up in the coming period, the current increase in profit-taking activity does not yet pose a significant risk; however, if demand weakens, the growing profit-taking sell-off could exert downward pressure on prices.

Odaily News: According to Lookonchain monitoring, BlackRock has purchased 11,098 BTC over the past two days, valued at $852 million; and 132,769 ETH, valued at $316 million.

Odaily News - The U.S. Internal Revenue Service (IRS) has issued a warning about an advanced email phishing campaign targeting cryptocurrency holders in the United States. Attackers are using forged official tax letters to trick users into scanning malicious QR codes, aiming to steal crypto wallet credentials and private keys.

According to reports, the attackers are impersonating the IRS by sending physical letters that create a sense of urgency under the guise of "tax compliance" or "account verification," and include QR codes within the correspondence. Once users scan these codes, they may be redirected to counterfeit websites, potentially exposing wallet login information, recovery phrases, or private keys, ultimately leading to the theft of digital assets.

The IRS reminds taxpayers that official agencies will never request users to provide crypto wallet private keys, recovery phrases, or perform similar "wallet verification" procedures through unofficial channels. Cryptocurrency holders should remain vigilant against any suspicious emails or letters that ask them to scan QR codes, connect wallets, or submit sensitive information.

As the number of crypto asset holders continues to grow, social engineering attacks targeting digital wallets are on the rise. Regulatory and security agencies are stepping up efforts to raise awareness and prevent such fraudulent activities. (CoinDesk)